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Earnings per Share | 9 Months Ended
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Sep. 30, 2014
Earnings Per Share [Abstract] |
Earnings per Share | Earnings per Share The Company has unvested shares of restricted stock and restricted stock units outstanding that are considered participating securities and, therefore, computes basic and diluted earnings per share under the two-class method. Basic earnings per share for the periods are based upon the weighted average number of shares of common stock outstanding during the periods. Diluted earnings per share include the effect of certain stock options.
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2014 |  | 2013 |  | 2014 |  | 2013
Net income attributable to Westlake Chemical Corporation |  | $ | 167,757 |  |  | $ | 170,290 |  |  | $ | 495,232 |  |  | $ | 439,453 |
Less: |  |  |  |  |  |  |  |
Net income attributable to participating securities |  | (353 | ) |  | (587 | ) |  | (1,099 | ) |  | (1,691 | )
Net income attributable to common shareholders |  | $ | 167,404 |  |  | $ | 169,703 |  |  | $ | 494,133 |  |  | $ | 437,762 |
The following table reconciles the denominator for the basic and diluted earnings per share computations shown in the consolidated statements of operations:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2014 |  | 2013 |  | 2014 |  | 2013
Weighted average common shares—basic (1) |  | 133,299,458 |  |  | 133,257,494 |  |  | 133,199,304 |  |  | 133,256,054 |
Plus incremental shares from: |  |  |  |  |  |  |  |
Assumed exercise of options (1) |  | 546,601 |  |  | 553,614 |  |  | 543,841 |  |  | 550,704 |
Weighted average common shares—diluted (1) |  | 133,846,059 |  |  | 133,811,108 |  |  | 133,743,145 |  |  | 133,806,758 |
Earnings per common share attributable to Westlake Chemical Corporation : (1) |  |  |  |  |  |  |  |
Basic |  | $ | 1.26 |  |  | $ | 1.28 |  |  | $ | 3.71 |  |  | $ | 3.29 |
Diluted |  | $ | 1.25 |  |  | $ | 1.27 |  |  | $ | 3.69 |  |  | $ | 3.27 |
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(1) | Share amounts and per share data for the three and nine months ended September 30, 2013 have been restated to reflect the effect of a two-for-one stock split on March 18, 2014. See Note 1 for additional information.
There were no options excluded from the computation of diluted earnings per share for the three and nine months ended September 30, 2014. Excluded from the computation of diluted earnings per share for the three and nine months ended September 30, 2013 are options to purchase 137,324 and 115,518 shares of common stock, respectively. These options were outstanding during the periods reported but were excluded because the effect of including them would have been antidilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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