Earnings and Dividends per Share

3 Months Ended

Mar. 31, 2024

Earnings and Dividends Per Share [Abstract]

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,
		2024		2023
Net income attributable to Westlake Corporation		$	174	$	394
Less:
Net income attributable to participating securities		(1)		(2)
Net income attributable to common shareholders		$	173	$	392

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,
		2024		2023
Weighted average common shares—basic		128,359,983		127,548,287
Plus incremental shares from:
Assumed exercise of options and vesting of performance stock units		660,387		911,081
Weighted average common shares—diluted		129,020,370		128,459,368

Earnings per common share attributable to Westlake Corporation:
Basic		$	1.35	$	3.07
Diluted		$	1.34	$	3.05

Excluded from the computation of diluted earnings per share are options to purchase 260,722 and 307,411 shares of common stock for the three months ended March 31, 2024 and 2023. 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 declared per common share for the three months ended March 31, 2024 and 2023 were as follows:


	Three Months Ended March 31,
		2024		2023
Dividends per common share		$	0.5000	$	0.3570