EARNINGS PER SHARE CALCULATIONS

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

EARNINGS PER SHARE CALCULATIONS

EARNINGS PER SHARE CALCULATIONS

The following tables provide the earnings per share calculations for the three- and six-month periods ended June 30, 2017 and 2016:

Net Income for Earnings Per Share Calculations - Basic	Three Months Ended						Six Months Ended
In millions	Jun 30, 2017			Jun 30, 2016			Jun 30, 2017			Jun 30, 2016
Net income attributable to The Dow Chemical Company	$	1,321		$	3,208		$	2,209		$	3,462
Preferred stock dividends (1)	—			(85		)	—			(170		)
Net income attributable to participating securities (2)	(6		)	(18		)	(10		)	(19		)
Net income attributable to common stockholders	$	1,315		$	3,105		$	2,199		$	3,273

Earnings Per Share Calculations - Basic	Three Months Ended						Six Months Ended
Dollars per share	Jun 30, 2017			Jun 30, 2016			Jun 30, 2017			Jun 30, 2016
Net income attributable to The Dow Chemical Company	$	1.09		$	2.88		$	1.83		$	3.13
Preferred stock dividends (1)	—			(0.07		)	—			(0.15		)
Net income attributable to participating securities (2)	(0.01		)	(0.02		)	(0.01		)	(0.02		)
Net income attributable to common stockholders	$	1.08		$	2.79		$	1.82		$	2.96

Net Income for Earnings Per Share Calculations - Diluted	Three Months Ended						Six Months Ended
In millions	Jun 30, 2017			Jun 30, 2016			Jun 30, 2017			Jun 30, 2016
Net income attributable to The Dow Chemical Company	$	1,321		$	3,208		$	2,209		$	3,462
Preferred stock dividends (1)	—			—			—			—
Net income attributable to participating securities (2)	(6		)	(18		)	(10		)	(19		)
Net income attributable to common stockholders	$	1,315		$	3,190		$	2,199		$	3,443

Earnings Per Share Calculations - Diluted	Three Months Ended						Six Months Ended
Dollars per share	Jun 30, 2017			Jun 30, 2016			Jun 30, 2017			Jun 30, 2016
Net income attributable to The Dow Chemical Company	$	1.08		$	2.62		$	1.80		$	2.84
Preferred stock dividends (1)	—			—			—			—
Net income attributable to participating securities (2)	(0.01		)	(0.01		)	(0.01		)	(0.01		)
Net income attributable to common stockholders	$	1.07		$	2.61		$	1.79		$	2.83

Share Count Information	Three Months Ended		Six Months Ended
Shares in millions	Jun 30, 2017	Jun 30, 2016	Jun 30, 2017	Jun 30, 2016
Weighted-average common shares - basic	1,211.8	1,111.1	1,207.2	1,107.0
Plus dilutive effect of stock options and awards	17.2	14.9	18.3	14.7
Plus dilutive effect of preferred stock (1)	N/A	96.8	N/A	96.8
Weighted-average common shares - diluted	1,229.0	1,222.8	1,225.5	1,218.5
Stock options and deferred stock awards excluded from EPS calculations (3)	2.2	3.0	1.7	3.7

(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.

(2) Deferred stock awards are considered participating securities due to Dow's practice of paying dividend equivalents on unvested shares.

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