Earnings and Dividends per Share (Notes)

3 Months Ended

Mar. 31, 2022

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 March 31,
	2022		2021
Net income attributable to Westlake Corporation	$	756	$	242
Less:
Net income attributable to participating securities	(4)		(1)
Net income attributable to common shareholders	$	752	$	241

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 March 31,
	2022		2021
Weighted average common shares—basic	128,071,355		127,955,532
Plus incremental shares from:
Assumed exercise of options and vesting of performance stock units	853,744		527,841
Weighted average common shares—diluted	128,925,099		128,483,373
Earnings per common share attributable to Westlake Corporation:
Basic	$	5.87	$	1.88
Diluted	$	5.83	$	1.87

Excluded from the computation of diluted earnings per share are options to purchase 102,025 and 575,727 shares of common stock for the three months ended March 31, 2022 and 2021, 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 March 31, 2022 and 2021 were as follows:

	Three Months Ended March 31,
	2022		2021
Dividends per common share	$	0.2975	$	0.2700