EARNINGS PER SHARE CALCULATIONS

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

EARNINGS PER SHARE CALCULATIONS

The following tables provide the earnings per share calculations for the years ended December 31, 2016, 2015 and 2014:

Net Income for Earnings Per Share Calculations - Basic In millions	2016			2015			2014
Net income attributable to The Dow Chemical Company	$	4,318		$	7,685		$	3,772
Preferred stock dividends	(340		)	(340		)	(340		)
Net income attributable to participating securities (1)	(22		)	(51		)	(27		)
Net income attributable to common stockholders	$	3,956		$	7,294		$	3,405

Earnings Per Share Calculations - Basic Dollars per share	2016			2015			2014
Net income attributable to The Dow Chemical Company	$	3.90		$	6.80		$	3.22
Preferred stock dividends	(0.31		)	(0.30		)	(0.29		)
Net income attributable to participating securities (1)	(0.02		)	(0.05		)	(0.02		)
Net income attributable to common stockholders	$	3.57		$	6.45		$	2.91

Net Income for Earnings Per Share Calculations - Diluted In millions	2016			2015			2014
Net income attributable to The Dow Chemical Company	$	4,318		$	7,685		$	3,772
Preferred stock dividends (2)	(340		)	—			(340		)
Net income attributable to participating securities (1)	(22		)	(51		)	(27		)
Net income attributable to common stockholders	$	3,956		$	7,634		$	3,405

Earnings Per Share Calculations - Diluted Dollars per share	2016			2015			2014
Net income attributable to The Dow Chemical Company	$	3.84		$	6.19		$	3.18
Preferred stock dividends (2)	(0.30		)	—			(0.29		)
Net income attributable to participating securities (1)	(0.02		)	(0.04		)	(0.02		)
Net income attributable to common stockholders	$	3.52		$	6.15		$	2.87

Share Count Information Shares in millions	2016	2015	2014
Weighted-average common shares - basic (3)	1,108.1	1,130.1	1,170.9
Plus dilutive effect of stock options and awards	15.1	14.5	16.1
Plus dilutive effect of preferred stock (4)	—	96.8	—
Weighted-average common shares - diluted	1,123.2	1,241.4	1,187.0
Stock options and deferred stock awards excluded from EPS calculations (5)	1.9	4.6	5.8

(1) 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 periods ended December 31, 2016 and December 31, 2014, because the effect of an assumed conversion of the Company's Cumulative Convertible Perpetual Preferred Stock, Series A ("Preferred Stock") would have been antidilutive.

(3) On December 30, 2016, the Company converted 4 million shares of Preferred Stock into 96.8 million shares of the Company's common stock. As a result of this conversion, 0.5 million shares of common stock are included in "Weighted-average common shares - basic" for the period ended December 31, 2016.

(4) The calculation of diluted earnings per share for the period ending December 31, 2016, excludes 96.3 million shares of common stock because the effect of an assumed conversion of Preferred Stock for the full period would have been antidilutive (excludes 96.8 million shares for the period ended December 31, 2014).

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