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OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2008 AND 2007
(Amounts in millions, except per-share amounts)
Periods Ended June 30 | |||||||||||||||
Three Months | Six Months | ||||||||||||||
| 2008 | 2007 | 2008 | 2007 | |||||||||||
BASIC EARNINGS PER SHARE | |||||||||||||||
Earnings applicable to common stock | $ | 2,297 | $ | 1,412 | $ | 4,143 | $ | 2,624 | |||||||
Basic shares | |||||||||||||||
Weighted average common shares outstanding | 879.3 | 872.1 | 878.7 | 871.6 | |||||||||||
Treasury stock | (58.9 | ) | (38.9 | ) | (57.2 | ) | (36.6 | ) | |||||||
Vested, unissued shares | 0.9 | 4.5 | 1.0 | 4.3 | |||||||||||
Basic shares | 821.3 | 837.7 | 822.5 | 839.3 | |||||||||||
Basic earnings per share | |||||||||||||||
Income from continuing operations | $ | 2.80 | $ | 1.36 | $ | 5.01 | $ | 2.76 | |||||||
Discontinued operations, net | — | 0.32 | 0.03 | 0.37 | |||||||||||
Basic earnings per common share | $ | 2.80 | $ | 1.68 | $ | 5.04 | $ | 3.13 | |||||||
DILUTED EARNINGS PER SHARE | |||||||||||||||
Earnings applicable to common stock | $ | 2,297 | $ | 1,412 | $ | 4,143 | $ | 2,624 | |||||||
Diluted shares | |||||||||||||||
Basic shares | 821.3 | 837.7 | 822.5 | 839.3 | |||||||||||
Dilutive effect of stock options and unvested restricted shares | 4.2 | 4.1 | 4.4 | 3.9 | |||||||||||
Diluted shares | 825.5 | 841.8 | 826.9 | 843.2 | |||||||||||
Diluted earnings per share | |||||||||||||||
Income from continuing operations | $ | 2.78 | $ | 1.36 | $ | 4.98 | $ | 2.74 | |||||||
Discontinued operations, net | — | 0.32 | 0.03 | 0.37 | |||||||||||
Diluted earnings per common share | $ | 2.78 | $ | 1.68 | $ | 5.01 | $ | 3.11 | |||||||