Statement Regarding
Computation of Ratios of Earnings to
Fixed Charges and Preferred Stock Dividends

	Year Ended December 31,

(US$ in millions except ratios)	2012			2011			2010			2009			2008
Earnings⁽¹⁾
Pretax income before noncontrolling interests and income (loss) from discontinued operations, net of tax⁽²⁾	$	372		$	1,020		$	3,049		$	8		$	714
plus: Fixed Charges		404			429			461			405			495
Amortization of capitalized interest		21			19			18			16			13
Distributed income of equity investees		1			6			4			5			4
less: Capitalized interest		(13	)		(16	)		(21	)		(26	)		(18	)
Preferred stock dividends		(34	)		(34	)		(67	)		(78	)		(78	)
Earnings:	$	751		$	1,424		$	3,444		$	330		$	1,130
Fixed Charges⁽¹⁾
Capitalized interest	$	13		$	16		$	21		$	26		$	18
Expensed interest		294			295			294			245			353
plus: Amortized premiums, discounts and capitalized debt expenditures		12			23			27			15			6
Estimate of interest within rental expense		51			61			52			41			40
Preferred stock dividends		34			34			67			78			78
Fixed charges:	$	404		$	429		$	461		$	405		$	495
Ratio of Earnings/Fixed Charges		1.86			3.32			7.47			0.81			2.28

⁽¹⁾: For the purpose of determining the Ratio of Earnings to Fixed Charges and Preferred Stock Dividends, earnings are defined as pretax income before noncontrolling interests and income (loss) from discontinued operations, net of tax in consolidated subsidiaries plus fixed charges and amortization of capitalized interest less capitalized interest and preferred stock dividend requirements. Fixed charges consist of interest expense (capitalized and expensed), amortization of deferred debt issuance costs, portion of rental expense that is representative of the interest factor and preferred stock dividend requirements of the registrant and consolidated subsidiaries.
⁽²⁾: Includes a pretax gain of $2,440 million related to the May 2010 sale of Bunge's Brazilian fertilizer nutrients assets.