Earnings and Dividends per Share (Notes)

6 Months Ended

Jun. 30, 2021

Earnings and Dividends Per Share [Abstract]

Earnings per Share

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 each period. Diluted earnings per share include the effects of certain stock options and performance stock units.

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Net income attributable to Westlake Chemical Corporation	$	522	$	15	$	764	$	160
Less:
Net income attributable to participating securities	(2)		(1)		(4)		(1)
Net income attributable to common shareholders	$	520	$	14	$	760	$	159

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 June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Weighted average common shares—basic	128,142,997		127,680,478		128,049,852		127,958,921
Plus incremental shares from:
Assumed exercise of options and vesting of performance stock units	734,863		143,151		631,924		174,379
Weighted average common shares—diluted	128,877,860		127,823,629		128,681,776		128,133,300
Earnings per common share attributable to Westlake Chemical Corporation:
Basic	$	4.06	$	0.11	$	5.94	$	1.24
Diluted	$	4.04	$	0.11	$	5.91	$	1.24

Excluded from the computation of diluted earnings per share are options to purchase 427,473 and 1,303,372 shares of common stock for the three months ended June 30, 2021 and 2020, respectively; and 501,192 and 1,201,505 shares of common stock for the six months ended June 30, 2021 and 2020, 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 and six months ended June 30, 2021 and 2020 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Dividends per common share	$	0.2700	$	0.2625	$	0.5400	$	0.5250