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EARNINGS AND DIVIDENDS PER SHARE
 3 Months Ended
Mar. 31, 2019
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)
2019
 
2018
Numerator
 
 
 
Earnings attributable to Eastman, net of tax
$
209

 
$
290

 
 
 
 
Denominator
 
 
 
Weighted average shares used for basic EPS
139.0

 
142.8

Dilutive effect of stock options and other awards
1.1

 
2.0

Weighted average shares used for diluted EPS
140.1

 
144.8

 
 
 
 
(Calculated using whole dollars and shares)
 
 
 
EPS
 
 
 
Basic
$
1.50

 
$
2.03

Diluted
$
1.49

 
$
2.00



Shares underlying stock options excluded from the first quarter 2019 and 2018 calculations of diluted EPS were 2,261,873 and 407,573, respectively, because the market value of exercises of these options were less than the cash proceeds that would be received from these exercises. First quarter 2019 and 2018 reflect the impact of share repurchases of 1,582,076 and 994,235, respectively.

The Company declared cash dividends of $0.62 and $0.56 per share in first quarter 2019 and 2018, respectively.