Dow Chemical 2014 Annual Report Download - page 53

Download and view the complete annual report

Please find page 53 of the 2014 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.

Page out of 186

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186

29
The Dow Chemical Company and Subsidiaries
PART II, Item 6. Selected Financial Data.
SELECTED FINANCIAL DATA
In millions, except as noted (Unaudited) 2014 2013 2012 2011 2010
Summary of Operations
Net sales $ 58,167 $ 57,080 $ 56,786 $ 59,985 $ 53,674
Net income $ 3,839 $ 4,816 $ 1,100 $ 2,784 $ 2,321
Per share of common stock (in dollars):
Net income per common share - basic $ 2.91 $ 3.72 $ 0.71 $ 2.06 $ 1.75
Net income per common share - diluted $ 2.87 $ 3.68 $ 0.70 $ 2.05 $ 1.72
Cash dividends declared per share of common stock $ 1.53 $ 1.28 $ 1.21 $ 0.90 $ 0.60
Book value per share of common stock $ 19.71 $ 22.59 $ 17.73 $ 19.28 $ 19.23
Year-end Financial Position
Total assets $ 68,796 $ 69,501 $ 69,605 $ 69,224 $ 69,588
Long-term debt $ 18,838 $ 16,820 $ 19,919 $ 18,310 $ 20,605
Financial Ratios
Research and development expenses as percent of net sales 2.8% 3.1% 3.0% 2.7% 3.1%
Income before income taxes as percent of net sales 9.1% 11.9% 2.9% 6.0% 5.2%
Return on stockholders’ equity 18.6% 19.4% 5.0% 13.1% 11.0%
Debt as a percent of total capitalization 45.6% 39.0% 48.8% 48.0% 51.3%