Dow Chemical 2012 Annual Report Download - page 128

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102
The following tables provide the earnings per share calculations for the year ended December 31, 2010:
Net Income
In millions 2010
Net income $ 2,321
Net income attributable to noncontrolling interests (11)
Net income attributable to The Dow Chemical Company $ 2,310
Preferred stock dividends (340)
Net income available for common stockholders $ 1,970
Earnings Per Share Calculations - Basic
Dollars per share 2010
Net income $ 2.06
Net income attributable to noncontrolling interests (0.01)
Net income attributable to The Dow Chemical Company $ 2.05
Preferred stock dividends (0.30)
Net income available for common stockholders $ 1.75
Earnings Per Share Calculations - Diluted
Dollars per share 2010
Net income $ 2.03
Net income attributable to noncontrolling interests (0.01)
Net income attributable to The Dow Chemical Company $ 2.02
Preferred stock dividends (1) (0.30)
Net income available for common stockholders $ 1.72
Shares in millions
Weighted-average common shares - basic 1,125.9
Plus dilutive effect of stock options and awards 17.9
Weighted-average common shares - diluted 1,143.8
Stock options and deferred stock awards excluded from EPS calculations (2) 45.7
Conversion of preferred stock excluded from EPS calculations (3) 96.8
(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.