EXHIBIT 99.2
Occidental Petroleum Corporation | |||||||||||||
Reconciliation to Generally Accepted Accounting Principles (GAAP) | |||||||||||||
For the Twelve Months Ended December 31, | |||||||||||||
($ Millions) | |||||||||||||
2012 | 2011 | ||||||||||||
Diluted | Diluted | ||||||||||||
EPS | EPS | ||||||||||||
Reported Income | $ | 4,598 | $ | 5.67 | $ | 6,771 | $ | 8.32 | |||||
Add: significant items affecting earnings | |||||||||||||
Asset impairments and related items | 1,731 | - | |||||||||||
Libya exploration write-off | - | 35 | |||||||||||
Gain on sale of Colombia pipeline interest | - | (22) | |||||||||||
Foreign tax | - | 29 | |||||||||||
Premium on debt extinguishments | - | 163 | |||||||||||
Litigation reserves | 20 | - | |||||||||||
Tax effect of pre-tax adjustments | (636) | (50) | |||||||||||
State income tax charge | - | 33 | |||||||||||
Discontinued operations, net * | 37 | (131) | |||||||||||
Core Results | $ | 5,750 | $ | 7.09 | $ | 6,828 | $ | 8.39 | |||||
* Amount shown after-tax | |||||||||||||
Average Diluted Common Shares Outstanding | 810.0 | 812.9 |