Earnings per common share from continuing operations - basic 2
$
1.66
$
0.97
$
3.57
$
6.45
$
2.91
Earnings per common share from continuing operations - diluted 2
$
1.65
$
0.95
$
3.52
$
6.15
$
2.87
Loss per common share from discontinued operations - basic
$
—
$
(0.05
)
$
—
$
—
$
—
Loss per common share from discontinued operations - diluted
$
—
$
(0.04
)
$
—
$
—
$
—
Cash dividends declared per share of common stock
$
1.52
$
1.76
$
1.84
$
1.72
$
1.53
Book value per share of common stock
$
41.80
$
43.30
$
21.70
$
23.06
$
19.71
Year-end Financial Position
Total assets
$
188,030
$
192,164
$
79,511
$
67,938
$
68,639
Long-term debt
$
37,662
$
30,056
$
20,456
$
16,215
$
18,741
Financial Ratios
Research and development expenses as percent of net sales 3
3.6
%
3.4
%
3.3
%
3.2
%
2.8
%
Income from continuing operations before income taxes as percent of net sales 2
6.4
%
1.9
%
9.2
%
20.4
%
9.1
%
Return on stockholders' equity 2
4.1
%
1.5
%
15.3
%
34.4
%
18.6
%
Debt as a percent of total capitalization
29.6
%
25.1
%
44.0
%
39.7
%
45.5
%
1.
The year ended December 31, 2017, reflects the results of Historical Dow for the entire year and the results of Historical DuPont for the period beginning on and after September 1, 2017. The years ended December 31, 2016, 2015 and 2014 solely reflect the results of Historical Dow.
2.
See Notes 1, 3, 6, 7, 8, 13, 15, 16 and 19 to the Consolidated Financial Statements for information on items materially impacting the results for the years ended December 31, 2018, 2017 and 2016, including the effects of the U.S. Tax Cuts and Jobs Act, enacted on December 22, 2017; Merger-related amortization of the fair value step-up of inventories; loss on early redemption of debt; gains on divestitures; integration and separation costs; charges related to restructuring programs; goodwill impairment and other asset related charges; a charge related to payment of plan obligations to certain participants of a Historical Dow U.S. non-qualified pension plan; and the impact of a change in accounting policy for asbestos-related defense and processing costs.
3.
The retrospective adoption of ASU 2017-07 in the first quarter of 2018 resulted in an update to this ratio for 2015. The adoption did not impact the ratio for the remaining periods.
filings.tools