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EXHIBIT 11
OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 1995 AND 1994
(Amounts in thousands, except per-share amounts)
Three Six
Months Ended June 30 Months Ended June 30
---------------------- ----------------------
1995 1994 1995 1994
--------- --------- --------- ---------
EARNINGS PER COMMON AND COMMON
EQUIVALENT SHARE
---------------------------------------------------------
Earnings(loss) applicable to common stock $ 163,648 $ (38,770) $ 318,493 $ (95,722)
========= ========= ========= =========
Common shares outstanding at beginning of period 317,442 311,500 316,853 305,603
Issuance of common shares, weighted average 307 415 709 3,484
Conversions, weighted average options exercised
and other 214 -- 121 --
Repurchase of common shares -- (16) (52) (51)
Effect of assumed exercises
Dilutive effect of exercise of options outstanding
and other 267 -- 142 --
--------- --------- --------- ---------
Weighted average common stock and common stock
equivalents 318,230 311,899 317,773 309,036
========= ========= ========= =========
Earnings(loss) per common and common equivalent
share $ .5142 $ (.1243) $ 1.0023 $ (.3097)
========= ========= ========= =========
$ .51 $ (.12) $ 1.00 $ (.31)
====== ====== ====== ======
FULLY DILUTED EARNINGS PER SHARE
---------------------------------------------------------
Earnings(loss) applicable to common stock $ 163,648 $ (38,770) $ 318,493 $ (95,722)
Dividends applicable to dilutive preferred stock:
$3.875 preferred stock(a) 14,634 -- 29,269 --
$3.00 preferred stock(a) 8,541 -- 17,082 --
--------- --------- --------- ---------
$ 186,823 $ (38,770) $ 364,844 $ (95,722)
========= ========= ========= =========
Common shares outstanding at beginning of period 317,442 311,500 316,853 305,603
Issuance of common shares, weighted average 307 415 709 3,484
Conversions, weighted average options exercised
and other 214 -- 121 --
Repurchase of common shares -- (16) (52) (51)
Effect of assumed conversions and exercises
Dilutive effect of assumed conversion of preferred stock:
$3.875 preferred stock(a) 33,186 -- 33,186 --
$3.00 preferred stock(a) 28,118 -- 28,118 --
Dilutive effect of exercise of options outstanding
and other 267 19 241 10
--------- --------- --------- ---------
Total for computation of fully diluted earnings per share 379,534 311,918 379,176 309,046
========= ========= ========= =========
Fully diluted earnings(loss) per share $ .4922 $ (.1243) $ .9622 $ (.3097)
========= ========= ========= =========
$ .49 $ (.12) $ .96 $ (.31)
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(a) Convertible securities are not considered in the calculations if the effect of the conversion is anti-dilutive.