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EARNINGS AND DIVIDENDS PER SHARE | 3 Months Ended
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Mar. 31, 2017
Earnings Per Share [Abstract] |
EARNINGS AND DIVIDENDS PER SHARE | EARNINGS AND DIVIDENDS PER SHARE The following table sets forth the computation of basic and diluted earnings per share ("EPS"):
| First Quarter
(In millions, except per share amounts) | 2017 |  | 2016
Numerator |  |  |
Earnings attributable to Eastman: |  |  |
Earnings, net of tax | $ | 278 |  |  | $ | 251 |
Denominator |  |  |
Weighted average shares used for basic EPS | 146.2 |  |  | 147.8 |
Dilutive effect of stock options and other awards | 1.0 |  |  | 1.0 |
Weighted average shares used for diluted EPS | 147.2 |  |  | 148.8 |
(Calculated using whole dollars and shares) |  |  |
EPS |  |  |
Basic | $ | 1.90 |  |  | $ | 1.70 |
Diluted | $ | 1.89 |  |  | $ | 1.69 |
In first quarter 2017 and 2016, options to purchase 1,008,667 and 1,081,423 shares of common stock, respectively, were excluded from the shares treated as outstanding for computation of diluted earnings per share because the total market value of option exercises for these awards was less than the total cash proceeds that would be received for these exercises. First quarter 2017 and 2016 reflect the impact of share repurchases of 943,699 and 287,281, respectively. The Company declared cash dividends of $0.51 and $0.46 per share in first quarter 2017 and 2016, respectively.

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