EX-11 2 ex11-20071q.htm EXHIBIT 11 Exhibit 11

EXHIBIT 11

OCCIDENTAL PETROLEUM CORPORATION AND SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE

FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND 2006

(Amounts in millions, except per-share amounts)

Three months ended March 31

 

 

2007

 

 

2006

 

BASIC EARNINGS PER SHARE

 

 

 

 

 

 

 

Earnings applicable to common stock

 

$

1,212

 

$

1,231

 

Basic shares

 

 

 

 

 

 

 

Weighted average common
shares outstanding

 

 

871.1

 

 

842.5

 

Treasury stock

 

 

(34.3

)

 

(1.3

)

Vested, unissued restricted stock

 

 

3.3

 

 

3.6

 

Deferred share units

 

 

0.9

 

 

3.7

 

Basic shares

 

 

841.0

 

 

848.5

 

Basic earnings per share

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.44

 

$

1.36

 

Discontinued operations, net

 

 

 

 

0.09

 

Basic earnings per common share

 

$

1.44

 

$

1.45

 

DILUTED EARNINGS PER SHARE

 

 

 

 

 

 

 

Earnings applicable to common stock

 

$

1,212

 

$

1,231

 

Diluted shares

 

 

 

 

 

 

 

Basic shares

 

 

841.0

 

 

848.5

 

Dilutive effect of options outstanding

 

 

3.5

 

 

9.7

 

Deferred, restricted stock

 

 

2.0

 

 

2.7

 

Diluted shares

 

 

846.5

 

 

860.9

 

Diluted earnings per share

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.43

 

$

1.34

 

Discontinued operations, net

 

 

 

 

0.09

 

Diluted earnings per common share

 

$

1.43

 

$

1.43