Dow Chemical 2014 Annual Report Download - page 23
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2014 Annual Report 21
In millions
2014
Net Sales $ 58,167 $ 57,080
Adjusted EBITDA $ 9,337 $ 8,362
Adjusted EBITDA Margin 16.1% 14.6%
In millions
2014
EBITDA $ 8,944 $ 10,545
- Certain items impacting EBITDA1(393) 2,183
Adjusted EBITDA $ 9,337 $ 8,362
In millions (Unaudited)
2014
EBITDA $ 8,944 $ 10,545
- Depreciation and amortization 2,747 2,681
+ Interest income 51 41
- Interest expense and amortization of debt discount 983 1,101
Income Before Income Taxes $ 5,265 $ 6,804
- Provision for income taxes 1,426 1,988
- Net income attributable to noncontrolling interests 67 29
- Preferred stock dividends 340 340
Net Income Available for The Dow Chemical Company Common Stockholders $ 3,432 $ 4,447
In millions
2014
Share count – diluted, excluding preferred stock conversion to common shares 1,187.0 1,193.6
Potential common shares from assumed conversion of preferred stock, included in reported GAAP EPS calculation N/A 96.8
Share count – diluted, including assumed preferred stock conversion to common shares N/A 1,290.4
Company Common Stockholders” is provided below.
The following table presents diluted share counts for the twelve-month periods ended December 31, 2014, and December 31, 2013,
including the effect of an assumed conversion of the Company’s Cumulative Convertible Perpetual Preferred Stock, Series A, into shares
of the Company’s common stock:
Adjusted EBITDA
Calculation
Adjusted EBITDA
Margins Calculation
Reconciliation of EBITDA to “Net Income
Available for The Dow Chemical Company
Common Stockholders”
1 See “Pretax Impact” columns on the “Certain Items Impacting Results” table on page 20 for additional detail on “Certain Items Impacting EBITDA.”