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EARNINGS AND DIVIDENDS PER SHARE | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Earnings 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:
| Second Quarter |  | First Six Months
(In millions, except per share amounts) | 2023 |  | 2022 |  | 2023 |  | 2022
Numerator |  |  |  |  |  |  |
Earnings attributable to Eastman, net of tax | $ | 272 |  |  | $ | 256 |  |  | $ | 406 |  |  | $ | 491 |
Denominator |  |  |  |  |  |  |
Weighted average shares used for basic EPS | 118.8 |  | 124.8 |  | 118.9 |  | 126.9
Dilutive effect of stock options and other awards | 0.8 |  | 1.6 |  | 0.7 |  | 1.7
Weighted average shares used for diluted EPS | 119.6 |  | 126.4 |  | 119.6 |  | 128.6
(Calculated using whole dollars and shares) |  |  |  |  |  |  |
EPS |  |  |  |  |  |  |
Basic | $ | 2.28 |  |  | $ | 2.05 |  |  | $ | 3.41 |  |  | $ | 3.87 |
Diluted | $ | 2.27 |  |  | $ | 2.03 |  |  | $ | 3.39 |  |  | $ | 3.82 |
Shares underlying stock options of 2,411,015 and 1,342,328 for second quarter 2023 and 2022, respectively, and 1,941,051 and 507,692 for first six months 2023 and 2022, respectively, were excluded from calculations of diluted EPS 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. The Company repurchased 621,711 shares in both second quarter and first six months 2023. The Company repurchased 6,118,034 and 6,666,069 shares in second quarter and first six months 2022, respectively. The Company declared cash dividends of $0.79 and $0.76 per share for second quarter 2023 and 2022, respectively. The Company declared cash dividends of $1.58 and $1.52 per share for first six months 2023 and 2022, respectively.

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