EXHIBIT 11
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
FOR THE THREE MONTHS ENDED MARCH 31, 2006 AND 2005
(Amounts in thousands, except per-share amounts)
Three Months Ended | |||||||
2006 | 2005 | ||||||
BASIC EARNINGS PER SHARE | |||||||
Earnings applicable to common stock | $ | 1,229,401 | $ | 845,991 | |||
Basic shares | |||||||
Weighted average common shares outstanding | 421,227 | 397,634 | |||||
Treasury stock | (629 | ) | — | ||||
Vested, unissued restricted stock | 1,803 | 1,100 | |||||
Deferred share units | 1,838 | 1,670 | |||||
Basic shares | 424,239 | 400,404 | |||||
Basic earnings per share | |||||||
Income from continuing operations | $ | 2.87 | $ | 2.12 | |||
Discontinued operations, net | 0.03 | (0.01 | ) | ||||
Basic earnings per common share | $ | 2.90 | $ | 2.11 | |||
DILUTED EARNINGS PER SHARE | |||||||
Earnings applicable to common stock | $ | 1,229,401 | $ | 845,991 | |||
Diluted shares | |||||||
Basic shares | 424,239 | 400,404 | |||||
Dilutive effect of exercise of options outstanding | 4,880 | 4,853 | |||||
Deferred, restricted stock | 1,344 | 1,029 | |||||
Diluted shares | 430,463 | 406,286 | |||||
Diluted earnings per share | |||||||
Income from continuing operations | $ | 2.83 | $ | 2.09 | |||
Discontinued operations, net | 0.03 | (0.01 | ) | ||||
Diluted earnings per common share | $ | 2.86 | $ | 2.08 |