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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Net Sales $ 12,910 $ 14,917 $ 25,280 $ 29,378
Cost of sales 10,146 12,344 19,681 24,077
Research and development expenses 429 419 812 810
Selling, general and administrative expenses 773 751 1,525 1,530
Amortization of intangibles 109 108 211 222
Restructuring charges 375 0 375 0
Equity in earnings of nonconsolidated affiliates 272 227 440 478
Sundry income (expense) - net 385 25 1,048 54
Interest income 11 9 28 22
Interest expense and amortization of debt discount 232 242 473 488
Income Before Income Taxes 1,514 1,314 3,719 2,805
Provision for income taxes 317 344 1,003 769
Net Income 1,197 970 2,716 2,036
Net income (loss) attributable to noncontrolling interests (23) 3 18 20
Net Income Attributable to The Dow Chemical Company 1,220 967 2,698 2,016
Preferred stock dividends 85 85 [1] 170 170 [1]
Net Income Available for The Dow Chemical Company Common Stockholders $ 1,135 $ 882 $ 2,528 $ 1,846
Per Common Share Data:        
Earnings per common share - basic $ 0.99 $ 0.74 $ 2.21 $ 1.54
Earnings per common share - diluted 0.97 0.73 2.15 1.52
Dividends declared per share of common stock $ 0.42 $ 0.37 $ 0.84 $ 0.74
Weighted-average common shares outstanding - basic 1,138.1 1,178.9 1,136.9 1,184.7
Weighted-average common shares outstanding - diluted 1,249.4 1,195.2 1,248.0 1,201.5
Depreciation $ 483 $ 525 $ 969 $ 1,042
Capital Expenditures $ 998 $ 864 $ 1,901 $ 1,536
[1] Preferred stock dividends were not added back in the calculation of diluted earnings per share for the three- and six-month periods ended June 30, 2014, because the effect of adding them back would have been antidilutive.