EX-11 4 ex11-20053q.htm EXHIBIT 11 Exhibit 11

EXHIBIT 11

OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2005 AND 2004
(Amounts in millions, except per-share amounts)

                           
   

Three Months Ended

  

Nine Months Ended

  
   

September 30

  

September 30

  
   

2005

  

2004

  

2005

  

2004

  

BASIC EARNINGS PER SHARE

                          
                           

Earnings applicable to common stock

  

$

1,747

  

$

758

  

$

4,129

  

$

1,826

  

Basic shares

                          

Weighted average common shares outstanding

    

401.1

    

393.6

    

399.3

    

391.5

  

Vested, unissued restricted stock

    

1.4

    

0.9

    

1.4

    

0.9

  

Deferred shares

    

1.8

    

1.8

    

1.7

    

1.7

  

Basic shares outstanding

    

404.3

    

396.3

    

402.4

    

394.1

  
                           

Basic earnings per share

                          

Income from continuing operations

  

$

4.31

  

$

1.91

  

$

10.25

  

$

4.65

  

Discontinued operations, net

    

—

    

—

    

—

    

(0.02

)

Cumulative effect of changes in

                          

accounting principles, net

    

0.01

    

—

    

0.01

    

—

  

Basic earnings per common share

  

$

4.32

  

$

1.91

  

$

10.26

  

$

4.63

  

DILUTED EARNINGS PER SHARE

                          

Earnings applicable to common stock

  

$

1,747

  

$

758

  

$

4,129

  

$

1,826

  

Diluted shares

                          

Basic shares outstanding

    

404.3

    

396.3

    

402.4

    

394.1

  

Dilutive effect of exercise of options outstanding

    

5.5

    

5.6

    

4.9

    

4.7

  

Deferred, restricted stock

    

1.4

    

1.3

    

1.0

    

1.0

  

Diluted shares

    

411.2

    

403.2

    

408.3

    

399.8

  
                           

Diluted earnings per share

                          

Income from continuing operations

  

$

4.24

  

$

1.88

  

$

10.10

  

$

4.58

  

Discontinued operations, net

    

—

    

—

    

—

    

(0.01

)

Cumulative effect of changes in

                          

accounting principles, net

    

0.01

    

—

    

0.01

    

—

  

Diluted earnings per common share

  

$

4.25

  

$

1.88

  

$

10.11

  

$

4.57