Earnings and Dividends per Share

Earnings per Share

The Company has unvested restricted stock units outstanding that are considered participating securities and, therefore, computes basic and diluted earnings per share under the two-class method. Basic earnings per share for the periods are based upon the weighted average number of shares of common stock outstanding during the periods. Diluted earnings per share includes the effect of certain stock options.



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Net income attributable to Westlake Chemical Corporation	$	308		$	211		$	873		$	502
Less:
Net income attributable to participating securities	(1		)	(1		)	(4		)	(3		)
Net income attributable to common shareholders	$	307		$	210		$	869		$	499

The following table reconciles the denominator for the basic and diluted earnings per share computations shown in the consolidated statements of operations:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Weighted average common shares—basic	129,427,328		129,069,186		129,512,097		129,033,597
Plus incremental shares from:
Assumed exercise of options	624,964		819,782		671,104		756,368
Weighted average common shares—diluted	130,052,292		129,888,968		130,183,201		129,789,965

Earnings per common share attributable to Westlake Chemical Corporation:
Basic	$	2.36	$	1.62	$	6.70	$	3.87
Diluted	$	2.35	$	1.61	$	6.67	$	3.85

Excluded from the computation of diluted earnings per share are options to purchase 172,194 and 335,276 shares of common stock for the three months ended September 30, 2018 and 2017, respectively, and 143,439 and 291,888 shares of common stock for the nine months ended September 30, 2018 and 2017, respectively. These options were outstanding during the periods reported but were excluded because the effect of including them would have been antidilutive.

Dividends per Share

Dividends per common share for the three months ended September 30, 2018 and 2017 and for the nine months ended September 30, 2018 and 2017 were as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Dividends per common share	$	0.2500	$	0.2100	$	0.6700	$	0.5912