EXHIBIT 11
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2006 AND 2005
(Amounts in millions, except per-share amounts)
Three Months | Nine Months | ||||||||||||
2006 | 2005 | 2006 | 2005 | ||||||||||
BASIC EARNINGS PER SHARE | |||||||||||||
Earnings applicable to common stock | $ | 1,168 | $ | 1,747 | $ | 3,254 | $ | 4,129 | |||||
Basic shares | |||||||||||||
Weighted average common shares outstanding | 867.1 | 802.2 | 857.9 | 798.5 | |||||||||
Treasury stock | (22.1 | ) | — | (11.8 | ) | — | |||||||
Vested, unissued restricted stock | 4.0 | 2.8 | 4.3 | 2.8 | |||||||||
Deferred share units | 3.8 | 3.5 | 3.8 | 3.5 | |||||||||
Basic shares | 852.8 | 808.5 | 854.2 | 804.8 | |||||||||
Basic earnings per share | |||||||||||||
Income from continuing operations | $ | 1.36 | $ | 2.05 | $ | 4.11 | $ | 4.89 | |||||
Discontinued operations, net | 0.01 | 0.11 | (0.30 | ) | 0.24 | ||||||||
Basic earnings per common share | $ | 1.37 | $ | 2.16 | $ | 3.81 | $ | 5.13 | |||||
DILUTED EARNINGS PER SHARE | |||||||||||||
Earnings applicable to common stock | $ | 1,168 | $ | 1,747 | $ | 3,254 | $ | 4,129 | |||||
Diluted shares | |||||||||||||
Basic shares | 852.8 | 808.5 | 854.2 | 804.8 | |||||||||
Dilutive effect of exercise of options outstanding | 4.8 | 11.0 | 6.6 | 9.8 | |||||||||
Deferred, restricted stock | 2.7 | 2.9 | 2.2 | 1.9 | |||||||||
Diluted shares | 860.3 | 822.4 | 863.0 | 816.5 | |||||||||
Diluted earnings per share | |||||||||||||
Income from continuing operations | $ | 1.35 | $ | 2.01 | $ | 4.07 | $ | 4.82 | |||||
Discontinued operations, net | 0.01 | 0.11 | (0.30 | ) | 0.24 | ||||||||
Diluted earnings per common share | $ | 1.36 | $ | 2.12 | $ | 3.77 | $ | 5.06 | |||||