Bunge 2004 Annual Report
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Common Share Market and Dividends
Five-Year Summary of Selected Financial Data
Management's Discussion and Analysis of Financial Condition and Results of Operations
Consolidated Statements of Income
Consolidated Balance Sheets
Consolidated Statements of Cash Flows
Consolidated Statements of Shareholders' Equity
Notes to the Consolidated Financial Statements
Management's Report on Internal Control Over Financial Reporting
Reports of Independent Registered Public Accounting Firm
Financial Performance
consolidated statements of shareholders' equity
(U.S. dollars in millions, except share data)


Common Shares
Additional
Paid-in
Capital
Receivable
from
Former
   Shareholder
  Retained
Earnings
  Accumulated
Other
   Comprehensive
Income (Loss)
(Note 23)
  Total
   Shareholders'
Equity
     Comprehensive
Income (Loss)
 
Shares    Amount
Balance, January 1, 2002 83,155,100      $ 1      $ 1,706      $ (76 )      $ 435        $ (690 )      $ 1,376  
Comprehensive income–2002:  
Net income           255         255           $ 255  
Other comprehensive income (loss):  
  Foreign exchange translation adjustment,  
    net of tax expense of $17               (403 )       (403 )
  Unrealized loss on commodity futures,  
    net of tax benefit of $8               13         13  
  Loss on treasury rate lock contracts,  
    net of tax of $0               (22 )       (22 )
  Unrealized gain on investments,  
    net of tax of $1               (1 )       (1 )
  Reclassification of realized net (gains) to  
    net income, net of tax expense of $8               (12 )       (12 )
  Minimum pension liability,  
    net of tax benefit of $5               (11 )       (11 )
Total comprehensive income (loss)               (436 )   (436 ) $ (181 )
Collection of former shareholder receivable       21             21  
Dividends paid           (37 )       (37 )  
Issuance of common shares:  
  —public offering 16,093,633     292               292  
  —employee stock plan 83,500     1               1  
Balance, December 31, 2002 99,332,233 $ 1 $ 1,999 $ (55 ) $ 653   $ (1,126 ) $ 1,472  
Comprehensive income—2003:  
Net income           411         411   $ 411  
Other comprehensive income (loss):  
  Foreign exchange translation  
    adjustment, net of tax expense of $8               489         489  
  Unrealized loss on commodity futures,  
    net of tax benefit of $6               (9 )       (9 )
  Unrealized gain on investments,  
    net of tax of $0               1         1  
  Reclassification of realized net (gains) to  
    net income, net of tax expense of $2               (1 )       (1 )
  Minimum pension liability,  
    net of tax benefit of $7               (10 )       (10 )
Total comprehensive income (loss)               470     470   $ 881  
Collection of former shareholder receivable       55             55  
Dividends paid           (42 )       (42 )  
Issuance of common shares:  
  —employee stock plan 576,085     11               11  
Balance, December 31, 2003 99,908,318 $ 1 $ 2,010 $   $ 1,022   $ (656 ) $ 2,377  
Comprehensive income—2004:  
Net income           469         469   $ 469  
Other comprehensive income (loss):  
  Foreign exchange translation adjustment,  
    net of tax expense of $3               217         217  
  Unrealized losses on commodity futures,  
    net of tax benefit of $3               (5 )       (5 )
  Reclassification of realized net losses to  
    net income, net of tax benefit of $10               19         19  
  Minimum pension liability,  
    net of tax benefit of $1               (2 )       (2 )
Total comprehensive income (loss)               229     229   $ 698  
Dividends paid           (51 )       (51 )  
Issuance of common shares:  
  —public offering 9,775,000     331               331  
  —employee stock plan 988,132     20               20  
Balance, December 31, 2004 110,671,450 $ 1 $ 2,361 $   $ 1,440   $ (427 ) $ 3,375  

The accompanying notes are an integral part of these consolidated financial statements.

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