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EARNINGS AND DIVIDENDS PER SHARE

3 Months Ended

Mar. 31, 2018

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)	2018				2017
Numerator
Earnings attributable to Eastman, net of tax	$	290			$	278
Denominator
Weighted average shares used for basic EPS	142.8				146.2
Dilutive effect of stock options and other awards	2.0				1.0
Weighted average shares used for diluted EPS	144.8				147.2
(Calculated using whole dollars and shares)
EPS
Basic	$	2.03			$	1.90
Diluted	$	2.00			$	1.89

Stock options excluded from the first quarter 2018 and 2017 calculations of diluted earnings per share were 407,573 and 1,008,667, respectively, because the market value of option exercises for these awards were less than the cash proceeds that would be received from these exercises. First quarter 2018 and 2017 reflect the impact of share repurchases of 994,235 and 943,699, respectively.

The Company declared cash dividends of $0.56 and $0.51 per share in first quarter 2018 and 2017, 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
-Name Accounting Standards Codification
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