Home » Dow Chemical Annual Reports » 2011 Annual Report - page 71

Dow Chemical 2011 Annual Report Download - page 71

Download and view the complete annual report

Please find page 71 of the 2011 Dow Chemical annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Net income available for common stockholders was $2,402 million ($2.05 per share) in 2011, compared with

$1,970 million ($1.72 per share) in 2010 and $336 million ($0.32 per share) in 2009.

The following table summarizes the impact of certain items recorded in 2011, 2010 and 2009:

Certain Items Impacting Results

In millions, except per share amounts

Cost of sales:

One-time increase in cost of sales

related to fair valuation of Rohm

and Haas inventories

Labor-related litigation matter

Asset impairments and related costs

Warranty accrual adjustment of

exited business

Goodwill impairment loss

Restructuring charges

Purchased in-process research and

development charge

Transaction, integration and other

acquisition costs

Asbestos-related credit

Equity in earnings of nonconsolidated

affiliates:

Dow Corning restructuring

Equipolymers impairment

Gain on collection of impaired note

receivable

Sundry income (expense) - net:

Net gain on sale of TRN (4)

Gain on sale of OPTIMAL

Gain (Loss) on divestiture of Styron

Obligation related to past divestiture

Gain (Loss) on sale of contract

manufacturing business

Loss on early extinguishment of debt

Tax valuation allowance

Total

Pretax

Impact (1)

2011

$ —

—

(77)

(60)

—

(31)

—

(42)

(482)

—

$ (606)

2010

$ —

(50)

(91)

—

(26)

—

(143)

—

(47)

—

(46)

—

$ (322)

2009

$(209)

—

(7)

(689)

(7)

(226)

—

(29)

(65)

—

457

339

—

(56)

—

$ (492)

Impact on

Net Income (2)

2011

$ —

—

(51)

(38)

—

(20)

—

(314)

(264)

$ (557)

2010

$ —

(33)

(72)

—

(14)

—

(93)

—

(56)

(30)

—

(29)

—

$ (293)

2009

$(132)

—

(7)

(466)

(5)

(170)

—

(27)

(65)

—

321

198

—

(36)

—

$ (389)

Impact on

EPS (3)

2011

$ —

—

(0.05)

(0.03)

—

(0.02)

—

0.07

—

0.04

(0.27)

(0.23)

$ (0.49)

2010

$ —

(0.03)

(0.06)

—

(0.02)

—

(0.08)

0.03

—

(0.04)

(0.03)

—

(0.02)

—

$ (0.25)

2009

$(0.13)

—

(0.01)

(0.45)

(0.01)

(0.16)

—

(0.03)

(0.06)

—

0.29

0.18

—

(0.03)

—

$ (0.41)

(1) Impact on “Income from Continuing Operations Before Income Taxes.”

(2) Impact on “Net Income from Continuing Operations.”

(3) Impact on “Net income from continuing operations available for common stockholders - Earnings per common share – diluted.”

(4) Consists of a $513 million gain in “Sundry income (expense) – net” and hedging losses of $56 million in “Cost of sales.”