XML 49 R33.htm IDEA: XBRL DOCUMENT v3.10.0.1
SELECTED QUARTERLY FINANCIAL DATA
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
SELECTED QUARTERLY FINANCIAL DATA
SELECTED QUARTERLY FINANCIAL DATA
2018
 
 
 
 
 
In millions, except per share amounts (Unaudited)
1st
2nd
3rd
4th
Year
Net sales
$
14,899

$
15,793

$
14,976

$
14,610

$
60,278

Cost of sales
$
11,552

$
12,400

$
11,933

$
11,820

$
47,705

Gross margin
$
3,347

$
3,393

$
3,043

$
2,790

$
12,573

Restructuring, goodwill impairment and asset related charges - net 1
$
165

$
98

$
108

$
249

$
620

Integration and separation costs
$
202

$
231

$
278

$
333

$
1,044

Net income 2
$
1,377

$
1,310

$
1,036

$
910

$
4,633

Net income attributable to The Dow Chemical Company
$
1,342

$
1,279

$
1,000

$
878

$
4,499


1.
See Note 7 for additional information.
2.
Includes tax adjustments related to The Act, enacted on December 22, 2017. See Note 9 for additional information.
   
2017
 
 
 
 
 
In millions, except per share amounts (Unaudited)
1st
2nd
3rd
4th
Year
Net sales
$
13,230

$
13,834

$
13,633

$
14,811

$
55,508

Cost of sales 1
$
10,194

$
10,761

$
10,663

$
11,994

$
43,612

Gross margin 1
$
3,036

$
3,073

$
2,970

$
2,817

$
11,896

Restructuring, goodwill impairment and asset related charges - net 2
$
(1
)
$
(12
)
$
139

$
2,974

$
3,100

Integration and separation costs
$
109

$
136

$
283

$
258

$
786

Net income (loss) 3
$
915

$
1,359

$
805

$
(2,484
)
$
595

Net income (loss) attributable to The Dow Chemical Company
$
888

$
1,321

$
783

$
(2,526
)
$
466

Earnings per common share - basic 4
$
0.74

$
1.08

N/A

N/A

N/A

Earnings per common share - diluted 4
$
0.72

$
1.07

N/A

N/A

N/A

Dividends declared per share of common stock 4, 5
$
0.46

$
0.46

$
0.46

N/A

$
1.38

Market price range of common stock: 4, 6
 
 
 
 
 
High
$
65.00

$
65.26

N/A

N/A

N/A

Low
$
57.09

$
60.20

N/A

N/A

N/A

1.
Previously reported amounts have been updated to reflect the impact of adoption of ASU 2017-07.
2.
See Note 7 for additional information.
3.
See Notes 6, 8, 9, 16 and 19 for additional information on items materially impacting "Net income (loss)." The fourth quarter of 2017 included: tax adjustments related to The Act, enacted on December 22, 2017; a gain related to the DAS Divested Ag Business; and, a charge related to payment of plan obligations to certain participants of a U.S. non-qualified pension plan. The third quarter of 2017 included a gain related to the sale of the Company's EAA Business. The second quarter of 2017 included a gain related to the Nova patent infringement award. The first quarter of 2017 included a loss related to the Bayer CropScience arbitration matter.
4.
Effective with the Merger, all issued and outstanding shares of the Company's common stock are owned solely by its parent, DowDuPont Inc.
5.
Dow declared its last dividend on common stock in July 2017.
6.
Composite price as reported by the New York Stock Exchange.