In light of the significant amount of accounting and reporting changes incorporated into the historical and current quarter pro forma financial statements, DowDuPont also provided its expected results for the third quarter of 2017:
• GAAP net sales of $15.4 billion; pro forma net sales of $18.3 billion, up 8% versus the year-ago period, with gains in both volume and price.
• GAAP diluted earnings per share of $0.32. Pro forma adjusted earnings per share of $0.55, an increase of 10% versus the same quarter last year. Pro forma adjusted earnings per share excludes $0.37 per share charge for significant items and $0.08 per share charge for DuPont amortization of intangible assets.
DowDuPont’s unaudited pro forma financial statements are based on the historical consolidated financial statements of Dow and DuPont, adjusted for activities that are directly attributable to the merger transaction and are expected to have continuing impact, such as: purchase accounting; accounting policy alignment; elimination of the effect of events that are directly attributable to the merger agreement (e.g., one-time transaction costs); elimination of the impact of transactions between Dow and DuPont; and removal of the effect of remedy divestitures implemented as a condition of approval for the merger of Dow and DuPont.
The pro forma net sales, pro forma diluted earnings per common share from continuing operations - diluted, and pro forma adjusted earnings per common share from continuing operations - diluted are presented as if the merger had been consummated on Jan. 1, 2016. Pro forma income statements and segment information are provided on a quarterly basis beginning Jan. 1, 2016, and ending June 30, 2017.