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EARNINGS AND DIVIDENDS PER SHARE

3 Months Ended

Mar. 31, 2021

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)			2021						2020
Numerator
Earnings attributable to Eastman, net of tax			$	274					$	258
Denominator
Weighted average shares used for basic EPS			136.1						136.0
Dilutive effect of stock options and other awards			1.5						0.5
Weighted average shares used for diluted EPS			137.6						136.5
(Calculated using whole dollars and shares)
EPS
Basic			$	2.01					$	1.90
Diluted			$	1.99					$	1.89

Shares underlying stock options excluded from first quarter 2021 and 2020 calculations of diluted EPS were 327,782 and 3,921,686, 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 quarter 2021 and 2020 reflect share repurchases of 354,795 and 510,301, respectively.

The Company declared cash dividends of $0.69 and $0.66 per share for first quarter 2021 and 2020, respectively.

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- References

No definition available.

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- Definition

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

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1278-109256

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

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