Dow Chemical 2011 Annual Report Download - page 204

110
The following tables proved the earnings per share calculations for the years ended December 31, 2010 and 2009:
Net Income
In millions
Net income from continuing operations
Income from discontinued operations, net of income taxes
Net income attributable to noncontrolling interests
Net income attributable to The Dow Chemical Company
Preferred stock dividends
Net income available for common stockholders
2010
$ 2,321
—
(11)
$ 2,310
(340)
$ 1,970
2009
$ 566
110
(28)
$ 648
(312)
$ 336
Earnings Per Share Calculations - Basic
Dollars per share
Net income from continuing operations
Income from discontinued operations, net of income taxes
Net income attributable to noncontrolling interests
Net income attributable to The Dow Chemical Company
Preferred stock dividends
Net income available for common stockholders
2010
$ 2.06
—
(0.01)
$ 2.05
(0.30)
$ 1.75
2009
$ 0.54
0.10
(0.02)
$ 0.62
(0.30)
$ 0.32
Earnings Per Share Calculations - Diluted
Dollars per share
Net income from continuing operations
Income from discontinued operations, net of income taxes
Net income attributable to noncontrolling interests
Net income attributable to The Dow Chemical Company
Preferred stock dividends (1)
Net income available for common stockholders
2010
$ 2.03
—
(0.01)
$ 2.02
(0.30)
$ 1.72
2009
$ 0.54
0.10
(0.02)
$ 0.62
(0.30)
$ 0.32
Shares in millions
Weighted-average common shares - basic
Plus dilutive effect of stock options and awards
Weighted-average common shares - diluted
Stock options and deferred stock awards excluded from EPS calculations (2)
Conversion of preferred stock excluded from EPS calculations (3)
1,125.9
17.9
1,143.8
45.7
96.8
1,043.2
10.7
1,053.9
57.3
78.5
(1) Preferred stock dividends were not added back in the calculation of diluted earnings per share because the
effect of adding them back would have been antidilutive.
(2) These outstanding options to purchase shares of common stock and deferred stock awards were excluded
from the calculation of diluted earnings per share because the effect of including them would have been
antidilutive.
(3) Conversion of the Cumulative Convertible Perpetual Preferred Stock, Series A into shares of the Company’s
common stock was excluded from the calculation of diluted earnings per share because the effect of
including them would have been antidilutive.