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Earnings and Dividends per Share
 12 Months Ended
Dec. 31, 2020
Earnings and Dividends Per Share [Abstract]  
Earnings per Share Earnings and Dividends per Share
The Company has unvested 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 effects of certain stock options and performance stock units.
Year Ended December 31,
202020192018
Net income attributable to Westlake Chemical Corporation$330 $421 $996 
Less:
Net income attributable to participating securities(1)(2)(5)
Net income attributable to common shareholders$329 $419 $991 
The following table reconciles the denominator for the basic and diluted earnings per share computations shown in the consolidated statements of operations:
Year Ended December 31,
202020192018
Weighted average common shares—basic127,850,592 128,395,184 129,401,823 
Plus incremental shares from:
Assumed exercise of options and vesting of performance stock units238,466 362,109 583,930 
Weighted average common shares—diluted128,089,058 128,757,293 129,985,753 
Earnings per common share attributable to Westlake Chemical Corporation:
Basic$2.57 $3.26 $7.66 
Diluted$2.56 $3.25 $7.62 
Excluded from the computation of diluted earnings per share for the years ended December 31, 2020, 2019 and 2018 are options to purchase 1,151,776, 562,773 and 150,479 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.
Dividends per Share
Dividends per common share for the years ended December 31, 2020, 2019 and 2018 were as follows:
Year Ended December 31,
202020192018
Dividends per common share$1.0650 $1.0250 $0.9200