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Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Net Sales $ 13,834 $ 11,952 $ 27,064 $ 22,655
Cost of sales 10,764 9,275 20,961 17,226
Research and development expenses 405 399 821 760
Selling, general and administrative expenses 855 787 1,722 1,529
Amortization of intangibles 157 122 312 225
Restructuring charges (credits) (12) 454 (13) 452
Equity in earnings of nonconsolidated affiliates 54 82 250 121
Sundry income (expense) - net 299 2,550 (171) 1,309
Interest income 22 18 47 38
Interest expense and amortization of debt discount 226 208 445 409
Income Before Income Taxes 1,814 3,357 2,942 3,522
Provision for income taxes 455 130 668 20
Net Income 1,359 3,227 2,274 3,502
Net income attributable to noncontrolling interests 38 19 65 40
Net Income Attributable to The Dow Chemical Company 1,321 3,208 2,209 3,462
Preferred stock dividends [1] 0 85 0 170
Net Income Available for The Dow Chemical Company Common Stockholders $ 1,321 $ 3,123 $ 2,209 $ 3,292
Per Common Share Data:        
Earnings per common share - basic $ 1.08 $ 2.79 $ 1.82 $ 2.96
Earnings per common share - diluted 1.07 2.61 1.79 2.83
Dividends declared per share of common stock $ 0.46 $ 0.46 $ 0.92 $ 0.92
Weighted-average common shares outstanding - basic 1,211.8 1,111.1 1,207.2 1,107.0
Weighted-average common shares outstanding - diluted 1,229.0 1,222.8 1,225.5 1,218.5
Depreciation $ 534 $ 511 $ 1,112 $ 967
Capital Expenditures $ 795 $ 997 $ 1,549 $ 1,817
[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. As a result of this conversion, no shares of Preferred Stock are issued or outstanding.