Dow Chemical 2011 Annual Report Download - page 120

26
The Dow Chemical Company and Subsidiaries
PART II, Item 6. Selected Financial Data.
In millions, except as noted (Unaudited)
Summary of Operations (1)
Net sales (2)
Cost of sales (2)
Research and development expenses
Selling, general and administrative expenses
Amortization of intangibles
Special charges: restructuring, merger-related, asbestos-related, IPR&D,
impairment losses
Equity in earnings of nonconsolidated affiliates
Sundry income (expense) - net
Interest expense - net
Income (Loss) from continuing operations before income taxes
Provision (Credit) for income taxes
Net income (loss) from continuing operations
Income from discontinued operations, net of income taxes
Net income attributable to noncontrolling interests
Preferred stock dividends
Income (Loss) before cumulative effect of changes in accounting principles
Cumulative effect of changes in accounting principles
Net income (loss) available for The Dow Chemical Company common
stockholders
Per share of common stock (in dollars):
Net income (loss) from continuing operations per common share - basic
Discontinued operations per common share - basic
Earnings (Loss) per common share - basic
Net income (loss) from continuing operations per common share - diluted
Discontinued operations per common share - diluted
Earnings (Loss) per common share - diluted
Cash dividends declared per share of common stock
Cash dividends paid per share of common stock
Book value per share of common stock
Weighted-average common shares outstanding - basic
Weighted-average common shares outstanding - diluted
Convertible preferred shares outstanding (thousands)
Year-end Financial Position
Total assets
Working capital
Property - gross
Property - net
Long-term debt
Total debt
The Dow Chemical Company’s stockholders’ equity
Financial Ratios
Research and development expenses as percent of net sales (2)
Income (Loss) from continuing operations before income taxes as percent of
net sales (2)
Return on stockholders’ equity
Debt as a percent of total capitalization
General
Capital expenditures
Depreciation
Salaries and wages paid
Cost of employee benefits
Number of employees at year-end (thousands)
Number of Dow stockholders of record at year-end (thousands) (3)
2011
$ 59,985
51,029
1,646
2,788
496
31
1,223
(316)
1,301
3,601
817
2,784
—
42
340
2,402
—
$ 2,402
$ 2.06
—
2.06
$ 2.05
—
2.05
$ 0.90
0.80
19.28
1,149.0
1,158.2
4,000
$ 69,224
9,788
52,216
17,299
18,310
21,600
22,281
2.7%
6.0%
13.1%
48.0%
$ 2,687
2,177
5,247
1,707
51.7
79.4
2010
$ 53,674
45,780
1,660
2,609
509
115
1,112
125
1,436
2,802
481
2,321
—
11
340
1,970
—
$ 1,970
$ 1.75
—
1.75
$ 1.72
—
1.72
$ 0.60
0.60
19.23
1,125.9
1,143.8
4,000
$ 69,588
10,234
51,648
17,668
20,605
23,827
21,839
3.1%
5.2%
11.0%
51.3%
$ 2,130
2,289
5,711
1,653
49.5
84.1
2009
$ 44,875
39,148
1,492
2,487
399
869
630
891
1,532
469
(97)
566
110
28
312
336
—
$ 336
$ 0.22
0.10
0.32
$ 0.22
0.10
0.32
$ 0.60
0.87
18.42
1,043.2
1,053.9
4,000
$ 66,018
6,437
53,567
18,141
19,152
22,373
20,555
3.3%
1.0%
2.0%
51.4%
$ 1,683
2,291
5,152
1,389
52.2
89.9
2008
$ 57,361
51,913
1,310
1,966
92
1,117
787
89
562
1,277
651
626
28
75
—
579
—
$ 579
$ 0.59
0.03
0.62
$ 0.59
0.03
0.62
$ 1.68
1.68
14.62
930.4
939.0
—
$ 45,474
2,952
48,391
14,294
8,042
11,856
13,511
2.3%
2.2%
4.3%
45.7%
$ 2,276
2,016
4,681
981
46.1
94.6
2007
$ 53,375
46,302
1,305
1,861
72
635
1,122
324
454
4,192
1,230
2,962
23
98
—
2,887
—
$ 2,887
$ 3.00
0.03
3.03
$ 2.97
0.02
2.99
$ 1.64
1.59
20.62
953.1
965.6
—
$ 48,801
6,209
47,708
14,388
7,581
9,715
19,389
2.4%
7.9%
14.9%
31.8%
$ 2,075
1,959
4,404
1,130
45.9
98.7
(1) Adjusted to report sale of the Calcium Chloride business in 2009 as discontinued operations.
(2) Adjusted for reclassification of insurance operations in 2002.
(3) Stockholders of record as reported by the transfer agent. The Company estimates that there were an additional 537,633 stockholders whose shares were held in nominee names
at December 31, 2011.