EXHIBIT 11
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
FOR THE THREE MONTHS ENDED MARCH 31, 2005 AND 2004
(Amounts in thousands, except per-share amounts)
Three Months Ended
March 31
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2005 2004
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BASIC EARNINGS PER SHARE
Earnings applicable to common stock $ 845,991 $ 487,027
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Basic shares
Weighted average common shares outstanding 397,634 389,386
Issued, unvested restricted stock -- (55)
Vested, unissued restricted stock 1,100 547
Deferred share units 1,670 1,610
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Basic shares 400,404 391,488
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Basic earnings per share
Income from continuing operations $ 2.12 $ 1.25
Discontinued operations, net (.01) (.01)
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Basic earnings per common share $ 2.11 $ 1.24
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DILUTED EARNINGS PER SHARE
Earnings applicable to common stock $ 845,991 $ 487,027
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Diluted shares
Basic shares 400,404 391,488
Dilutive effect of exercise of options outstanding 4,853 4,491
Issued, unvested restricted stock -- 55
Deferred, restricted stock 1,029 1,172
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Diluted shares 406,286 397,206
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Diluted earnings per share
Income before effect of changes in accounting principles $ 2.09 $ 1.24
Discontinued operations, net (.01) (.01)
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Diluted earnings per common share $ 2.08 $ 1.23
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