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Earnings and Dividends per Share
 12 Months Ended
Dec. 31, 2019
Earnings and Dividends Per Share [Abstract]  
Earnings per Share Earnings and Dividends per Share
The Company has unvested restricted stock units outstanding that are considered participating securities and, therefore, computes basic and diluted earnings per share under the two-class method. Basic earnings per share for the periods are based upon the weighted average number of shares of common stock outstanding during the periods. Diluted earnings per share include the effect of certain stock options and performance stock units.
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Net income attributable to Westlake Chemical Corporation
 
$
421

 
$
996

 
$
1,304

Less:
 
 
 
 
 
 
Net income attributable to participating securities
 
(2
)
 
(5
)
 
(7
)
Net income attributable to common shareholders
 
$
419

 
$
991

 
$
1,297


The following table reconciles the denominator for the basic and diluted earnings per share computations shown in the consolidated statements of operations:
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Weighted average common shares—basic
 
128,395,184

 
129,401,823

 
129,087,043

Plus incremental shares from:
 
 
 
 
 
 
Assumed exercise of options and vesting of performance stock units
 
362,109

 
583,930

 
452,970

Weighted average common shares—diluted
 
128,757,293

 
129,985,753

 
129,540,013

 
 
 
 
 
 
 
Earnings per common share attributable to Westlake Chemical Corporation:
 
 
 
 
 
 
Basic
 
$
3.26

 
$
7.66

 
$
10.05

Diluted
 
$
3.25

 
$
7.62

 
$
10.00


Excluded from the computation of diluted earnings per share for the years ended December 31, 2019 and 2018 are options to purchase 562,773 and 150,479 shares of common stock, respectively. There are no antidilutive options to purchase shares of common stock for the year ended December 31, 2017. These options were outstanding during the periods reported but were excluded because the effect of including them would have been antidilutive.
Dividends per Share
Dividends per common share for the years ended December 31, 2019, 2018 and 2017 were as follows:
 
 
Year Ended December 31,
 
 
2019
 
2018
 
2017
Dividends per common share
 
$
1.0250

 
$
0.9200

 
$
0.8012