EARNINGS PER SHARE CALCULATIONS

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE CALCULATIONS

EARNINGS PER SHARE CALCULATIONS

The following tables provide the earnings per share calculations for the three- and nine-month periods ended September 30, 2013 and 2012:

Net Income for Earnings Per Share Calculations - Basic	Three Months Ended						Nine Months Ended
In millions	Sep 30, 2013			Sep 30, 2012			Sep 30, 2013			Sep 30, 2012
Net income	$	685		$	591		$	3,788		$	1,851
Net income attributable to noncontrolling interests	(6		)	(9		)	(49		)	(38		)
Net income attributable to The Dow Chemical Company	$	679		$	582		$	3,739		$	1,813
Preferred stock dividends	(85		)	(85		)	(255		)	(255		)
Net income attributable to participating securities (1)	(5		)	(5		)	(30		)	(15		)
Net income attributable to common stockholders	$	589		$	492		$	3,454		$	1,543

Earnings Per Share Calculations - Basic	Three Months Ended						Nine Months Ended
Dollars per share	Sep 30, 2013			Sep 30, 2012			Sep 30, 2013			Sep 30, 2012
Net income	$	0.58		$	0.50		$	3.20		$	1.58
Net income attributable to noncontrolling interests	(0.01		)	(0.01		)	(0.04		)	(0.03		)
Net income attributable to The Dow Chemical Company	$	0.57		$	0.49		$	3.16		$	1.55
Preferred stock dividends	(0.07		)	(0.07		)	(0.22		)	(0.22		)
Net income attributable to participating securities (1)	—			—			(0.02		)	(0.01		)
Net income attributable to common stockholders	$	0.50		$	0.42		$	2.92		$	1.32

Net Income for Earnings Per Share Calculations - Diluted	Three Months Ended						Nine Months Ended
In millions	Sep 30, 2013			Sep 30, 2012			Sep 30, 2013			Sep 30, 2012
Net Income	$	685		$	591		$	3,788		$	1,851
Net Income attributable to noncontrolling interests	$	(6	)	$	(9	)	$	(49	)	$	(38	)
Net income attributable to The Dow Chemical Company	$	679		$	582		$	3,739		$	1,813
Preferred stock dividends (2)	(85		)	(85		)	—			(255		)
Net income attributable to participating securities (1)	(5		)	(5		)	(30		)	(15		)
Net income attributable to common stockholders	$	589		$	492		$	3,709		$	1,543

Earnings Per Share Calculations - Diluted	Three Months Ended						Nine Months Ended
Dollars per share	Sep 30, 2013			Sep 30, 2012			Sep 30, 2013			Sep 30, 2012
Net income	$	0.57		$	0.50		$	2.94		$	1.57
Net income attributable to noncontrolling interests	(0.01		)	(0.01		)	(0.04		)	(0.03		)
Net income attributable to The Dow Chemical Company	$	0.56		$	0.49		$	2.90		$	1.54
Preferred stock dividends (2)	(0.07		)	(0.07		)	—			(0.22		)
Net income attributable to participating securities (1)	—			—			(0.02		)	(0.01		)
Net income attributable to common stockholders	$	0.49		$	0.42		$	2.88		$	1.31

(1) Accounting Standards Codification Topic 260, "Earnings per Share," requires enterprises with participating securities to use the two-class method to calculate earnings per share and to report the most dilutive earnings per share amount. Deferred stock awards are considered participating securities due to Dow's practice of paying dividend equivalents on unvested shares.

(2) Preferred stock dividends were not added back in the calculation of diluted earnings per share for the three-month period ended September 30, 2013 and the three- and nine-month periods ended September 30, 2012 because the effect of adding them back would have been antidilutive.

Additional Share Count Information	Three Months Ended		Nine Months Ended
Shares in millions	Sep 30, 2013	Sep 30, 2012	Sep 30, 2013	Sep 30, 2012
Weighted-average common shares - basic	1,187.4	1,172.7	1,184.9	1,167.8
Plus dilutive effect of stock options and awards	6.8	6.8	6.1	7.1
Plus dilutive effect of assumed conversion of preferred stock (1)	—	—	96.8	—
Weighted-average common shares - diluted	1,194.2	1,179.5	1,287.8	1,174.9
Stock options and deferred stock awards excluded from EPS calculations (2)	39.2	54.0	56.5	52.2

(1) Conversion of the Cumulative Convertible Perpetual Preferred Stock, Series A into shares of the Company’s common stock was excluded from the calculation of diluted earnings per share for the three-month period ended September 30, 2013 and the three- and nine-month periods ended September 30, 2012 because the effect of including them would have been antidilutive.

(2) These outstanding options to purchase shares of common stock and deferred stock awards were excluded from the calculation of diluted earnings per share because the effect of including them would have been antidilutive.