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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Net Sales $ 13,230 $ 10,703
Cost of sales 10,197 7,951
Research and development expenses 416 361
Selling, general and administrative expenses 867 742
Amortization of intangibles 155 103
Restructuring credits (1) (2)
Equity in earnings of nonconsolidated affiliates 196 39
Sundry income (expense) - net (470) (1,241)
Interest income 25 20
Interest expense and amortization of debt discount 219 201
Income Before Income Taxes 1,128 165
Provision (Credit) for income taxes 213 (110)
Net Income 915 275
Net income attributable to noncontrolling interests 27 21
Net Income Attributable to The Dow Chemical Company 888 254
Preferred stock dividends [1] 0 85 [2]
Net Income Available for The Dow Chemical Company Common Stockholders $ 888 $ 169
Per Common Share Data:    
Earnings per common share - basic $ 0.74 $ 0.15
Earnings per common share - diluted 0.72 0.15
Dividends declared per share of common stock $ 0.46 $ 0.46
Weighted-average common shares outstanding - basic 1,202.5 1,102.9
Weighted-average common shares outstanding - diluted 1,222.1 1,117.3
Depreciation $ 578 $ 456
Capital Expenditures $ 754 $ 820
[1] On December 30, 2016, the Company converted its outstanding shares of Cumulative Convertible Perpetual Preferred Stock, Series A ("Preferred Stock") into shares of the Company's common stock.
[2] Preferred stock dividends were not added back in the calculation of diluted earnings per share for the three months ended March 31, 2016, because the effect of adding them back would have been antidilutive.