Dow Chemical 2015 Annual Report Download - page 155
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145
The Dow Chemical Company and Subsidiaries
Selected Quarterly Financial Data
In millions, except per share amounts (Unaudited)
2015 1st 2nd 3rd 4th Year
Net sales $ 12,370 $ 12,910 $ 12,036 $ 11,462 $ 48,778
Cost of sales 9,535 10,146 9,349 8,806 37,836
Gross margin 2,835 2,764 2,687 2,656 10,942
Restructuring charges — 375 — 40 415
Net income 1,519 1,197 1,436 3,631 7,783
Net income available for common stockholders 1,393 1,135 1,290 3,527 7,345
Earnings per common share - basic (1) 1.22 0.99 1.12 3.17 6.45
Earnings per common share - diluted (1) (2) 1.18 0.97 1.09 2.94 6.15
Dividends declared per share of common stock 0.42 0.42 0.42 0.46 1.72
Market price range of common stock: (3)
High 50.22 53.77 53.20 57.10 57.10
Low 41.95 47.21 35.11 42.15 35.11
In millions, except per share amounts (Unaudited)
2014 1st 2nd 3rd 4th Year
Net sales $ 14,461 $ 14,917 $ 14,405 $ 14,384 $ 58,167
Cost of sales 11,733 12,344 11,776 11,611 47,464
Gross margin 2,728 2,573 2,629 2,773 10,703
Goodwill and other intangible assets
impairment losses — — — 50 50
Restructuring credits — — — (3) (3)
Asbestos-related charge — — — 78 78
Net income 1,066 970 964 839 3,839
Net income available for common stockholders 964 882 852 734 3,432
Earnings per common share - basic (1) 0.80 0.74 0.72 0.64 2.91
Earnings per common share - diluted (1) 0.79 0.73 0.71 0.63 2.87
Dividends declared per share of common stock 0.37 0.37 0.37 0.42 1.53
Market price range of common stock: (3)
High 50.96 53.35 54.97 53.80 54.97
Low 41.82 46.56 50.34 41.45 41.45
See Notes to the Consolidated Financial Statements.
(1) Due to quarterly changes in the share count and the allocation of income to participating securities, the sum of the four quarters does not
equal the earnings per share amount calculated for the year.
(2) For the quarters ended March 31, 2015, June 30, 2015, September 30, 2015, and December 31, 2015, and the year ended December 31,
2015, an assumed conversion of the Company's Cumulative Convertible Perpetual Preferred Stock, Series A into shares of the
Company's common stock was included in the calculation of earnings per common share - diluted. See Note 14 for additional
information.
(3) Composite price as reported by the New York Stock Exchange.