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Earnings and Dividends per Share (Notes)
 9 Months Ended
Sep. 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 September 30,Nine Months Ended September 30,
2022202120222021
Net income attributable to Westlake Corporation$401 $607 $2,015 $1,371 
Less:
Net income attributable to participating securities(2)(3)(10)(7)
Net income attributable to common shareholders$399 $604 $2,005 $1,364 
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,
2022202120222021
Weighted average common shares—basic127,943,400 128,060,193 128,118,160 128,053,337 
Plus incremental shares from:
Assumed exercise of options and vesting of performance stock units
803,612 705,621 885,590 656,760 
Weighted average common shares—diluted128,747,012 128,765,814 129,003,750 128,710,097 
Earnings per common share attributable to Westlake Corporation:
Basic$3.12 $4.71 $15.65 $10.65 
Diluted$3.10 $4.69 $15.54 $10.60 
Excluded from the computation of diluted earnings per share are options to purchase 587,530 and 426,918 shares of common stock for the three months ended September 30, 2022 and 2021, respectively; and 303,878 and 476,162 shares of common stock for the nine months ended September 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 nine months ended September 30, 2022 and 2021 were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Dividends per common share$0.3570 $0.2975 $0.9520 $0.8375