XML 90 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Net Sales $ 58,167us-gaap_SalesRevenueNet [1] $ 57,080us-gaap_SalesRevenueNet [1] $ 56,786us-gaap_SalesRevenueNet [1]
Cost of sales 47,464us-gaap_CostOfRevenue 47,594us-gaap_CostOfRevenue 47,792us-gaap_CostOfRevenue
Research and development expenses 1,647us-gaap_ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost 1,747us-gaap_ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost 1,708us-gaap_ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
Selling, general and administrative expenses 3,106us-gaap_SellingGeneralAndAdministrativeExpense 3,024us-gaap_SellingGeneralAndAdministrativeExpense 2,861us-gaap_SellingGeneralAndAdministrativeExpense
Amortization of intangibles 436us-gaap_AmortizationOfIntangibleAssets [2] 461us-gaap_AmortizationOfIntangibleAssets [2] 478us-gaap_AmortizationOfIntangibleAssets [2]
Goodwill and other intangible asset impairment losses 50us-gaap_GoodwillImpairmentLoss [3] 0us-gaap_GoodwillImpairmentLoss 220us-gaap_GoodwillImpairmentLoss [3]
Restructuring charges (credits) (3)us-gaap_RestructuringCharges [4] (22)us-gaap_RestructuringCharges [4] 1,343us-gaap_RestructuringCharges [4]
Asbestos-related charge 78dow_AsbestosRelatedChargesCredit [5] 0dow_AsbestosRelatedChargesCredit 0dow_AsbestosRelatedChargesCredit
Equity in earnings of nonconsolidated affiliates 835us-gaap_IncomeLossFromEquityMethodInvestments 1,034us-gaap_IncomeLossFromEquityMethodInvestments 536us-gaap_IncomeLossFromEquityMethodInvestments
Sundry income (expense) - net (27)us-gaap_OtherOperatingIncomeExpenseNet 2,554us-gaap_OtherOperatingIncomeExpenseNet (27)us-gaap_OtherOperatingIncomeExpenseNet
Interest income 51us-gaap_InvestmentIncomeInterest 41us-gaap_InvestmentIncomeInterest 41us-gaap_InvestmentIncomeInterest
Interest expense and amortization of debt discount 983us-gaap_InterestExpenseDebt 1,101us-gaap_InterestExpenseDebt 1,269us-gaap_InterestExpenseDebt
Income Before Income Taxes 5,265dow_IncomeBeforeIncomeTaxes 6,804dow_IncomeBeforeIncomeTaxes 1,665dow_IncomeBeforeIncomeTaxes
Provision for income taxes 1,426us-gaap_IncomeTaxExpenseBenefit 1,988us-gaap_IncomeTaxExpenseBenefit 565us-gaap_IncomeTaxExpenseBenefit
Net Income 3,839us-gaap_ProfitLoss 4,816us-gaap_ProfitLoss 1,100us-gaap_ProfitLoss
Net income (loss) attributable to noncontrolling interests 67us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 29us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (82)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net Income Attributable to The Dow Chemical Company 3,772us-gaap_NetIncomeLoss 4,787us-gaap_NetIncomeLoss 1,182us-gaap_NetIncomeLoss
Preferred stock dividends 340us-gaap_DividendsPreferredStock [6] 340us-gaap_DividendsPreferredStock 340us-gaap_DividendsPreferredStock [6]
Net Income Available for The Dow Chemical Company Common Stockholders $ 3,432us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 4,447us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 842us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Per Common Share Data:      
Earnings per common share - basic (in dollars per share) $ 2.91us-gaap_EarningsPerShareBasic $ 3.72us-gaap_EarningsPerShareBasic $ 0.71us-gaap_EarningsPerShareBasic
Earnings per common share - diluted (in dollars per share) $ 2.87us-gaap_EarningsPerShareDiluted $ 3.68us-gaap_EarningsPerShareDiluted $ 0.70us-gaap_EarningsPerShareDiluted
Common stock dividends declared per share of common stock $ 1.53us-gaap_CommonStockDividendsPerShareDeclared $ 1.28us-gaap_CommonStockDividendsPerShareDeclared $ 1.21us-gaap_CommonStockDividendsPerShareDeclared
Weighted-average common shares outstanding - basic 1,170.9us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 1,186.2us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 1,169.7us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Weighted-average common shares outstanding - diluted 1,187.0us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 1,290.4us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 1,176.4us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding
[1] The Indian subcontinent, previously reported with Rest of World, is now aligned with Europe, Middle East, Africa and India; prior period sales and long-lived assets have been adjusted to reflect this realignment.
[2] Includes a $3 million asset impairment charge related to intangible assets in 2013.
[3] See Note 11 for information regarding intangible asset impairment losses and Note 9 for information regarding the goodwill impairment loss.
[4] See Note 3 for information regarding restructuring charges and credits.
[5] See Note 14 for information regarding the asbestos-related charge.
[6] Preferred stock dividends were not added back in the calculation of diluted earnings per share for the periods ended December 31, 2014 and December 31, 2012 because the effect of adding them back would have been antidilutive.