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EARNINGS AND DIVIDENDS PER SHARE

3 Months Ended

Mar. 31, 2020

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") which are calculated using the treasury stock method:

			First Quarter
(In millions, except per share amounts)			2020						2019
Numerator
Earnings attributable to Eastman, net of tax			$	258					$	209
Denominator
Weighted average shares used for basic EPS			136.0						139.0
Dilutive effect of stock options and other awards			0.5						1.1
Weighted average shares used for diluted EPS			136.5						140.1
(Calculated using whole dollars and shares)
EPS
Basic			$	1.90					$	1.50
Diluted			$	1.89					$	1.49

Shares underlying stock options excluded from first quarter 2020 and 2019 calculations of diluted EPS were 3,921,686 and 2,261,873, respectively, because the grant price of these options was greater than the average market price of the Company's common stock and the effect of including them in the calculation of diluted EPS would have been antidilutive. First quarter 2020 and 2019 reflects share repurchases of 510,301 and 1,582,076, respectively.

The Company declared cash dividends of $0.66 and $0.62 per share in first quarter 2020 and 2019, 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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