v3.22.2
EARNINGS PER COMMON SHARE (Tables)
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
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
June 30,		Six Months Ended
June 30,
(US$ in millions, except for share data)2022202120222021
Net income (loss)$225 $369 $921 $1,286 
Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests(19)(7)(27)(92)
Net income (loss) attributable to Bunge$206 $362 $894 $1,194 
Convertible preference share dividends (1)
— (9)— (17)
Net income (loss) available to Bunge common shareholders - Basic $206 $353 $894 $1,177 
Add back convertible preference share dividends — 9 — 17 
Net income (loss) available to Bunge common shareholders - Diluted$206 $362 $894 $1,194 
Weighted-average number of common shares outstanding:   
Basic151,799,677 141,536,775 147,183,925 140,942,885 
Effect of dilutive shares:    
—stock options and awards (2)
2,273,037 2,386,791 2,687,006 2,397,053 
—convertible preference shares (1)
— 8,756,388 3,966,347 8,756,388 
Diluted154,072,714 152,679,954 153,837,278 152,096,326 
Earnings per common share:
Net income (loss) attributable to Bunge common shareholders—basic$1.36 $2.50 $6.08 $8.35 
Net income (loss) attributable to Bunge common shareholders—diluted$1.34 $2.37 $5.81 $7.85 
(1)    Effective March 23, 2022 (the "Conversion Date"), in accordance with the terms of the certificate of designation governing the convertible preference shares, all of the Company's issued and outstanding convertible preference shares were automatically converted into 1.2846 common shares of the Company, par value $0.01 per share. As a result of this conversion, dividends on the convertible preference shares ceased to accrue on the Conversion Date. Accordingly, holders of the convertible preference shares were not entitled to receive the $1.21875 per share dividend declared by the Company in respect of the convertible preference shares on February 23, 2022 and payable to holders of record on May 15, 2022, and no convertible preference shares were issued or outstanding as of June 30, 2022. Refer to Note 19 - Equity for further information.
(2)    There were no anti-dilutive outstanding stock options and contingently issuable restricted stock units excluded from the weighted-average number of common shares outstanding for the three month periods ended June 30, 2022 or 2021.
The weighted-average common shares outstanding-diluted exclude approximately zero and 2 million stock options and contingently issuable restricted stock units, which were not dilutive and not included in the computation of earnings per share, for the six months ended June 30, 2022 and 2021, respectively.