EXHIBIT 11
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2007 AND 2006
(Amounts in millions, except per-share amounts)
|
| Periods Ended September 30 |
| ||||||||||
|
| Three Months |
| Nine Months |
| ||||||||
|
| 2007 |
| 2006 |
| 2007 |
| 2006 |
| ||||
BASIC EARNINGS PER SHARE |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings applicable to common stock |
| $ | 1,324 |
| $ | 1,170 |
| $ | 3,948 |
| $ | 3,261 |
|
Basic shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common |
|
|
|
|
|
|
|
|
|
|
|
|
|
shares outstanding |
|
| 875.9 |
|
| 867.1 |
|
| 873.1 |
|
| 857.9 |
|
Treasury stock |
|
| (45.2 | ) |
| (22.1 | ) |
| (39.5 | ) |
| (11.7 | ) |
Vested, unissued shares |
|
| 2.4 |
|
| 7.8 |
|
| 3.4 |
|
| 8.0 |
|
Basic shares |
|
| 833.1 |
|
| 852.8 |
|
| 837.0 |
|
| 854.2 |
|
Basic earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
| $ | 1.58 |
| $ | 1.29 |
| $ | 4.34 |
| $ | 3.90 |
|
Discontinued operations, net |
|
| 0.01 |
|
| 0.08 |
|
| 0.38 |
|
| (0.08 | ) |
Basic earnings per common share |
| $ | 1.59 |
| $ | 1.37 |
| $ | 4.72 |
| $ | 3.82 |
|
DILUTED EARNINGS PER SHARE |
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings applicable to common stock |
| $ | 1,324 |
| $ | 1,170 |
| $ | 3,948 |
| $ | 3,261 |
|
Diluted shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic shares |
|
| 833.1 |
|
| 852.8 |
|
| 837.0 |
|
| 854.2 |
|
Dilutive effect of stock options and |
|
|
|
|
|
|
|
|
|
|
|
|
|
unvested restricted shares |
|
| 3.9 |
|
| 7.5 |
|
| 3.9 |
|
| 8.8 |
|
Diluted shares |
|
| 837.0 |
|
| 860.3 |
|
| 840.9 |
|
| 863.0 |
|
Diluted earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
| $ | 1.57 |
| $ | 1.28 |
| $ | 4.31 |
| $ | 3.86 |
|
Discontinued operations, net |
|
| 0.01 |
|
| 0.08 |
|
| 0.38 |
|
| (0.08 | ) |
Diluted earnings per common share |
| $ | 1.58 |
| $ | 1.36 |
| $ | 4.69 |
| $ | 3.78 |
|
