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37
The following table summarizes the impact of certain items recorded in 2012, 2011 and 2010:
Certain Items Impacting Results Pretax
Impact (1)
Impact on
Net Income (2)
Impact on
EPS (3)
In millions, except per share amounts 2012 2011 2010 2012 2011 2010 2012 2011 2010
Cost of sales:
Labor-related litigation matter $ — $ — $ (50) $ — $ — $ (33) $ — $ — $ (0.03)
Asset impairments and related costs — (77) (91) — (51) (72) — (0.05) (0.06)
Warranty accrual adjustment of exited
business — (60) — — (38) — — (0.03) —
Restructuring program implementation
costs (1)—— (1)—————
Selling, general and administrative
expenses:
Restructuring program implementation
costs (21) — — (13) — — (0.01) — —
Goodwill impairment loss (220) — — (220) — — (0.19) — —
Restructuring charges (4) (1,343) — (26) (951) — (14) (0.82) — (0.02)
Acquisition-related integration
expenses — (31) (143) — (20) (93) — (0.02) (0.08)
Asbestos-related credit ——54——34——0.03
Equity in earnings of nonconsolidated
affiliates:
Gain on collection of impaired note
receivable —86——86——0.07—
Dow Corning restructuring and asset
abandonment (89) — — (82) — — (0.07) — —
Sadara development and other costs (73) — — (70) — — (0.06) — —
Sundry income (expense) - net:
Gain (Loss) on divestiture of Styron — — 27 — — (56) — — (0.04)
Obligation related to past divestiture — — (47) — — (30) — — (0.03)
Gain (Loss) on sale of contract
manufacturing business 8 (42) — 8 44 — 0.01 0.04 —
Loss on early extinguishment of debt (123) (482) (46) (78) (314) (29) (0.06) (0.27) (0.02)
Provision for income taxes:
Tax valuation allowance — — — — (264) — — (0.23) —
Total $ (1,862) $ (606) $ (322) $ (1,407) $ (557) $ (293) $ (1.20) $ (0.49) $ (0.25)
(1) Impact on "Income Before Income Taxes."
(2) Impact on "Net Income Available for The Dow Chemical Company Common Stockholders."
(3) Impact on "Earnings per common share - diluted."
(4) "Restructuring charges" includes $304 million of asset impairments and severance costs related to Dow Kokam LLC which, at the time of the charge, was
owned 63.6 percent by Dow. The Dow Kokam restructuring impact on "Net Income Available for The Dow Chemical Company Common Stockholders"
is reduced by a $7 million "Credit for income taxes" and $108 million of "Net loss attributable to noncontrolling interests." The Company's share of the
Dow Kokam charge, after tax and noncontrolling interests, is $189 million.