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EARNINGS AND DIVIDENDS PER SHARE

3 Months Ended

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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- Definition

Tabular disclosure of the effect of income (loss) on an entity's diluted earnings per share.

+ References

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-Publisher FASB
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