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Dow Reports Third Quarter Results

Results in the third quarter of 2011 were impacted by one item:

  • Pretax $86 million gain related to cash collected on a previously impaired note receivable related to Equipolymers, a nonconsolidated affiliate. The gain is shown as "Equity in earnings of nonconsolidated affiliates" in the consolidated statements of income and reflected in Performance Plastics.

The following table summarizes the impact of certain items recorded in the nine-month periods ended September 30, 2012 and September 30, 2011:

Certain Items Impacting Results     Pretax Impact (1)     Net Income (2)     EPS - Diluted (3)
Nine Months Ended Nine Months Ended Nine Months Ended
In millions, except per share amounts (Unaudited)     Sep 30, 2012   Sep 30, 2011     Sep 30, 2012   Sep 30, 2011     Sep 30, 2012   Sep 30, 2011
Adjusted to exclude certain items (non-GAAP measures)   $ 1,860   $ 2,670 $ 1.57   $ 2.29
Certain items:
Restructuring charges $ (357 ) $ (287 ) (0.25 )
Acquisition-related integration expenses (31 ) (20 ) (0.02 )
Gain on collection of impaired note receivable 86 86 0.07
Loss on early extinguishment of debt     (24 )   (482 )     (15 )   (314 )     (0.01 )   (0.27 )
Total certain items     $ (381 )   $ (427 )     $ (302 )   $ (248 )     $ (0.26 )   $ (0.22 )
Reported (GAAP amounts)               $ 1,558     $ 2,422       $ 1.31     $ 2.07  

(1) Impact on "Income Before Income Taxes."(2) "Net Income Available for The Dow Chemical Company Common Stockholders."(3) "Earnings per common share - diluted."

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