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Earnings and Dividends per Share (Notes)
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
2022202120222021
Net income attributable to Westlake Corporation$858 $522 $1,614 $764 
Less:
Net income attributable to participating securities(5)(2)(9)(4)
Net income attributable to common shareholders$853 $520 $1,605 $760 
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,
2022202120222021
Weighted average common shares—basic128,341,132 128,142,997 128,206,988 128,049,852 
Plus incremental shares from:
Assumed exercise of options and vesting of performance stock units
999,964 734,863 927,258 631,924 
Weighted average common shares—diluted129,341,096 128,877,860 129,134,246 128,681,776 
Earnings per common share attributable to Westlake Corporation:
Basic$6.65 $4.06 $12.52 $5.94 
Diluted$6.60 $4.04 $12.43 $5.91 
Excluded from the computation of diluted earnings per share are options to purchase 217,729 and 427,473 shares of common stock for the three months ended June 30, 2022 and 2021, respectively; and 160,142 and 501,192 shares of common stock for the six months ended June 30, 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 and six months ended June 30, 2022 and 2021 were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Dividends per common share$0.2975 $0.2700 $0.5950 $0.5400