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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Net Sales $ 12,036 $ 14,405 $ 37,316 $ 43,783
Cost of sales 9,349 11,776 29,030 35,853
Research and development expenses 382 409 1,194 1,219
Selling, general and administrative expenses 689 753 2,214 2,283
Amortization of intangibles 105 108 316 330
Restructuring charges 0 0 375 0
Equity in earnings of nonconsolidated affiliates 135 229 575 707
Sundry income (expense) - net 632 (23) 1,680 31
Interest income 18 10 46 32
Interest expense and amortization of debt discount 233 233 706 721
Income Before Income Taxes 2,063 1,342 5,782 4,147
Provision for income taxes 627 378 1,630 1,147
Net Income 1,436 964 4,152 3,000
Net income attributable to noncontrolling interests 61 27 79 47
Net Income Attributable to The Dow Chemical Company 1,375 937 4,073 2,953
Preferred stock dividends 85 85 [1] 255 255 [1]
Net Income Available for The Dow Chemical Company Common Stockholders $ 1,290 $ 852 $ 3,818 $ 2,698
Per Common Share Data:        
Earnings per common share - basic $ 1.12 $ 0.72 $ 3.33 $ 2.27
Earnings per common share - diluted 1.09 0.71 3.24 2.24
Dividends declared per share of common stock $ 0.42 $ 0.37 $ 1.26 $ 1.11
Weighted-average common shares outstanding - basic 1,141.3 1,167.2 1,138.4 1,178.9
Weighted-average common shares outstanding - diluted 1,250.6 1,184.1 1,248.9 1,195.7
Depreciation $ 494 $ 550 $ 1,463 $ 1,592
Capital Expenditures $ 916 $ 930 $ 2,817 $ 2,466
[1] Preferred stock dividends were not added back in the calculation of diluted earnings per share for the three- and nine-month periods ended September 30, 2014, because the effect of adding them back would have been antidilutive.