Dow Chemical 2009 Annual Report Download - page 109
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Table of Contents
The Dow Chemical Company and Subsidiaries
Consolidated Statements of Income
(In millions, except per share amounts) For the years ended December 31 2009 2008 2007
Net Sales $ 44,875 $ 57,361 $ 53,375
Cost of sales 39,148 51,913 46,302
Research and development expenses 1,492 1,310 1,305
Selling, general and administrative expenses 2,487 1,966 1,861
Amortization of intangibles 399 92 72
Goodwill impairment losses 7 239 -
Restructuring charges 689 839 578
Purchased in-process research and development charges 7 44 57
Acquisition and integration related expenses 166 49 -
Asbestos-related credit - 54 -
Equity in earnings of nonconsolidated affiliates 630 787 1,122
Sundry income - net 891 89 324
Interest income 39 86 130
Interest expense and amortization of debt discount 1,571 648 584
Income from Continuing Operations Before Income Taxes 469 1,277 4,192
Provision (Credit) for income taxes (97) 651 1,230
Net Income from Continuing Operations 566 626 2,962
Income from discontinued operations, net of income taxes 110 28 23
Net Income 676 654 2,985
Net income attributable to noncontrolling interests 28 75 98
Net Income Attributable to The Dow Chemical Company 648 579 2,887
Preferred stock dividends 312 - -
Net Income Available for The Dow Chemical Company Common Stockholders $ 336 $ 579 $ 2,887
Per Common Share Data:
Net income from continuing operations available for common stockholders $ 0.22 $ 0.59 $ 3.00
Discontinued operations attributable to common stockholders 0.10 0.03 0.03
Earnings per common share - basic $ 0.32 $ 0.62 $ 3.03
Net income from continuing operations available for common stockholders $ 0.22 $ 0.59 $ 2.97
Discontinued operations attributable to common stockholders 0.10 0.03 0.02
Earnings per common share - diluted $ 0.32 $ 0.62 $ 2.99
Common stock dividends declared per share of common stock $ 0.60 $ 1.68 $ 1.635
Weighted-average common shares outstanding - basic 1,043.2 930.4 953.1
Weighted-average common shares outstanding - diluted 1,053.9 939.0 965.6
See Notes to the Consolidated Financial Statements.
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