Earnings and Dividends per Share

12 Months Ended

Dec. 31, 2021

Earnings and Dividends Per Share [Abstract]

Earnings and Dividends per ShareThe 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 include the effects of certain stock options and performance stock units.


	Year Ended December 31,
	2021		2020		2019
Net income attributable to Westlake Corporation	$	2,015	$	330	$	421
Less:
Net income attributable to participating securities	(10)		(1)		(2)
Net income attributable to common shareholders	$	2,005	$	329	$	419

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


	Year Ended December 31,
	2021		2020		2019
Weighted average common shares—basic	128,002,911		127,850,592		128,395,184
Plus incremental shares from:
Assumed exercise of options and vesting of performance stock units	695,071		238,466		362,109
Weighted average common shares—diluted	128,697,982		128,089,058		128,757,293

Earnings per common share attributable to Westlake Corporation:
Basic	$	15.66	$	2.57	$	3.26
Diluted	$	15.58	$	2.56	$	3.25

Excluded from the computation of diluted earnings per share for the years ended December 31, 2021, 2020 and 2019 are options to purchase 461,618, 1,151,776 and 562,773 shares of common stock, 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 years ended December 31, 2021, 2020 and 2019 were as follows:


	Year Ended December 31,
	2021		2020		2019
Dividends per common share	$	1.1350	$	1.0650	$	1.0250