EX-11 10 a08-27414_1ex11.htm EX-11

EXHIBIT 11

 

OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES

 

COMPUTATION OF EARNINGS PER SHARE

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2008 AND 2007

(Amounts in millions, except per-share amounts)

 

 

 

Periods Ended September 30

 

 

 

Three Months

 

Nine Months

 

 

 

2008

 

2007

 

2008

 

2007

 

BASIC EARNINGS PER SHARE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings applicable to common stock

 

$

2,271

 

$

1,324

 

$

6,414

 

$

3,948

 

 

 

 

 

 

 

 

 

 

 

Basic shares

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

880.6

 

875.9

 

879.3

 

873.1

 

Treasury stock

 

(65.9

)

(45.2

)

(60.1

)

(39.5

)

Vested, unissued shares

 

0.6

 

2.4

 

0.9

 

3.4

 

Basic shares

 

815.3

 

833.1

 

820.1

 

837.0

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

2.79

 

$

1.58

 

$

7.79

 

$

4.34

 

Discontinued operations, net

 

—

 

0.01

 

0.03

 

0.38

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

2.79

 

$

1.59

 

$

7.82

 

$

4.72

 

 

 

 

 

 

 

 

 

 

 

DILUTED EARNINGS PER SHARE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings applicable to common stock

 

$

2,271

 

$

1,324

 

$

6,414

 

$

3,948

 

 

 

 

 

 

 

 

 

 

 

Diluted shares

 

 

 

 

 

 

 

 

 

Basic shares

 

815.3

 

833.1

 

820.1

 

837.0

 

Dilutive effect of stock options and unvested restricted shares

 

2.4

 

3.9

 

3.7

 

3.9

 

Diluted shares

 

817.7

 

837.0

 

823.8

 

840.9

 

Diluted earnings per share

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

2.78

 

$

1.57

 

$

7.76

 

$

4.31

 

Discontinued operations, net

 

—

 

0.01

 

0.03

 

0.38

 

Diluted earnings per common share

 

$

2.78

 

$

1.58

 

$

7.79

 

$

4.69