| Computation of basic and diluted earnings per common share |
The following table sets forth the computation of basic and diluted earnings per common share. | | | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | (US$ in millions, except for share data) | | 2018 | | 2017 | | 2018 | | 2017 | Income (loss) from continuing operations | | $ | 367 |
| | $ | 92 |
| | $ | 333 |
| | $ | 227 |
| Net (income) loss attributable to noncontrolling interests | | (9 | ) | | — |
| | (13 | ) | | (7 | ) | Income (loss) from continuing operations attributable to Bunge | | 358 |
| | 92 |
| | 320 |
| | 220 |
| Convertible preference share dividends | | (8 | ) | | (8 | ) | | (25 | ) | | (25 | ) | Income (loss) from discontinued operations, net of tax | | 7 |
| | — |
| | 12 |
| | — |
| Net income (loss) available to Bunge common shareholders - Basic | | 357 |
| | 84 |
| | 307 |
| | 195 |
| Add back convertible preference share dividends | | 8 |
| | — |
| | — |
| | — |
| Net income (loss) available to Bunge common shareholders - Diluted | | $ | 365 |
| | $ | 84 |
| | $ | 307 |
| | $ | 195 |
| | | | | | | | | | Weighted-average number of common shares outstanding: | | |
| | |
| | |
| Basic | | 141,075,026 |
| | 140,601,605 |
| | 140,925,023 |
| | 140,276,421 |
| Effect of dilutive shares: | | |
| | |
| | |
| | |
| —stock options and awards (1) | | 653,334 |
| | 954,694 |
| | 798,388 |
| | 1,008,169 |
| —convertible preference shares (2) | | 8,176,814 |
| | — |
| | — |
| | — |
| Diluted | | 149,905,174 |
| | 141,556,299 |
| | 141,723,411 |
| | 141,284,590 |
| | | | | | | | | | Basic earnings per common share: | | | | | | | | | Net income (loss) from continuing operations | | $ | 2.48 |
| | $ | 0.59 |
| | $ | 2.09 |
| | $ | 1.39 |
| Net income (loss) from discontinued operations | | 0.05 |
| | — |
| | 0.09 |
| | (0.01 | ) | Net income (loss) attributable to Bunge common shareholders—basic | | $ | 2.53 |
| | $ | 0.59 |
| | $ | 2.18 |
| | $ | 1.38 |
| | | | | | | | | | Diluted earnings per common share: | | | | | | | | | Net income (loss) from continuing operations | | $ | 2.39 |
| | $ | 0.59 |
| | $ | 2.08 |
| | $ | 1.38 |
| Net income (loss) from discontinued operations | | 0.05 |
| | — |
| | 0.08 |
| | (0.01 | ) | Net income (loss) attributable to Bunge common shareholders—diluted | | $ | 2.44 |
| | $ | 0.59 |
| | $ | 2.16 |
| | $ | 1.37 |
|
| | (1) | Weighted-average common shares outstanding-diluted excludes approximately 5 million and 3 million outstanding stock options and contingently issuable restricted stock units, which were not dilutive and not included in the computation of earnings per share for the three months ended September 30, 2018 and 2017, respectively. |
Weighted-average common shares outstanding-diluted excludes approximately 4 million and 3 million outstanding stock options and contingently issuable restricted stock units, which were not dilutive and not included in the computation of earnings per share for the nine months ended September 30, 2018 and 2017, respectively. | | (2) | Weighted-average common shares outstanding-diluted excludes approximately 8 million weighted-average common shares that are issuable upon conversion of the convertible preference shares that were not dilutive and not included in the computation of earnings per share for the nine months ended September 30, 2018 and the three and nine months ended September 30, 2017. |
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