STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2013

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

NOTE 11 STOCKHOLDERS’ EQUITY

The following is a summary of common stock issuances:

Shares in thousands	Common Stock
Balance, December 31, 2010	885,275
Issued	1,302
Options exercised and other, net	232
Balance, December 31, 2011	886,809
Issued	1,746
Options exercised and other, net	246
Balance, December 31, 2012	888,801
Issued	826
Options exercised and other, net	292
Balance, December 31, 2013	889,919

TREASURY STOCK

In February 2014, Occidental increased the number of shares authorized for its share repurchase program by 30 million  from 95 million shares; however, the program does not obligate Occidental to acquire any specific number of shares and may be discontinued at any time.  In 2013 and 2012, respectively, Occidental purchased 10.3 million and 7.2 million shares under the program at an average cost of $94.42 and $77.98 per share.

Additionally, Occidental purchased shares from the trustee of its defined contribution savings plan during each year.

As of December 31, 2013, 2012 and 2011, treasury stock shares numbered 93.9 million, 83.3 million and 75.8 million, respectively.

NONREDEEMABLE PREFERRED STOCK

Occidental has authorized 50,000,000 shares of preferred stock with a par value of $1.00 per share.  At December 31, 2013, 2012 and 2011, Occidental had no outstanding shares of preferred stock.

EARNINGS PER SHARE

The following table presents the calculation of basic and diluted EPS for the years ended December 31:

In millions, except per-share amounts	2013			2012			2011
Basic EPS
Income from continuing operations	$	5,922		$	4,635		$	6,640
Discontinued operations, net	(19		)	(37		)	131
Net income	5,903			4,598			6,771
Less: Net income allocated to participating securities	(13		)	(8		)	(11		)
Net income, net of participating securities	$	5,890		$	4,590		$	6,760
Weighted average number of basic shares	804.1			809.3			812.1
Basic EPS	$	7.33		$	5.67		$	8.32
Diluted EPS
Net income, net of participating securities	$	5,890		$	4,590		$	6,760
Weighted average number of basic shares	804.1			809.3			812.1
Dilutive securities	0.5			0.7			0.8
Total diluted weighted average common shares	804.6			810.0			812.9
Diluted EPS	$	7.32		$	5.67		$	8.32

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive loss consisted of the following after-tax amounts:

Balance at December 31, (in millions)	2013			2012
Foreign currency translation adjustments	$	(5	)	$	(34	)
Unrealized losses on derivatives	(14		)	(7		)
Pension and post-retirement adjustments (a)	(284		)	(461		)
Total	$	(303	)	$	(502	)

(a)   See Note 13 for further information.