XML 34 R17.htm IDEA: XBRL DOCUMENT v3.20.2
EARNINGS AND DIVIDENDS PER SHARE
 9 Months Ended
Sep. 30, 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:
 Third QuarterFirst Nine Months
(In millions, except per share amounts)2020201920202019
Numerator
Earnings attributable to Eastman, net of tax $161 $266 $446 $733 
Denominator
Weighted average shares used for basic EPS135.3136.8135.5137.9
Dilutive effect of stock options and other awards 1.01.00.91.0
Weighted average shares used for diluted EPS136.3137.8136.4138.9
(Calculated using whole dollars and shares)
EPS
Basic$1.19 $1.95 $3.29 $5.31 
Diluted$1.18 $1.93 $3.27 $5.27 

Shares underlying stock options excluded from third quarter 2020 and 2019 calculations of diluted EPS were 2,247,621 and 2,620,529, respectively, because the grant date exercise 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. Third quarter 2019 reflects share repurchases of 1,032,623. There were no shares repurchased in third quarter 2020.

Shares underlying stock options excluded from first nine months 2020 and 2019 calculations of diluted EPS were 2,809,028 and 2,219,514, respectively, because the grant date exercise 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 nine months 2020 and 2019 reflects share repurchases of 1,134,052 and 4,282,409, respectively.

The Company declared cash dividends of $0.66 and $0.62 per share for third quarter 2020 and 2019, respectively, and $1.98 and $1.86 per share for first nine months 2020 and 2019, respectively.