STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2015

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, 2012	888,801
Issued	826
Options exercised and other, net	292
Balance, December 31, 2013	889,919
Issued	584
Options exercised and other, net	55
Balance, December 31, 2014	890,558
Issued	782
Options exercised and other, net	20
Balance, December 31, 2015	891,360

TREASURY STOCK

On October 2, 2014, Occidental increased the total number of shares authorized for its share repurchase program by 60 million shares to 185 million shares total; however, the program does not obligate Occidental to acquire any specific number of shares and may be discontinued at any time.  In 2015 and 2014, respectively, Occidental purchased 7.4 million and 25.8 million shares under the program at an average cost of $76.99 and $93.40 per share, respectively. Additionally, Occidental purchased shares from the trustee of its defined contribution savings plan during each year. As of December 31, 2015, 2014 and 2013, treasury stock shares numbered 127.7 million, 120.0 million and 93.9 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, 2015, 2014 and 2013, 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)	2015		2014		2013
Income (loss) from continuing operations	$	(8,146)	$	(130)	$	4,932
Less: Income from continuing operations attributable to noncontrolling interest	—		(14)		—
Income (loss) from contributing operations attributable to common stock	(8,146)		(144)		4,932
Income from discontinued operations	317		760		971
Net income (loss)	(7,829)		616		5,903
Less: Net income allocated to participating securities	—		—		(13		)
Net income (loss), net of participating securities	$	(7,829)	$	616	$	5,890
Weighted average number of basic shares	765.6		781.1		804.1
Basic earnings (loss) per common share	$	(10.23)	$	0.79	$	7.33
Net income (loss), net of participating securities	$	(7,829)	$	616	$	5,890
Weighted average number of basic shares	765.6		781.1		804.1
Dilutive securities	—		—		0.5
Total diluted weighted average common shares	765.6		781.1		804.6
Diluted earnings (loss) per common share	$	(10.23)	$	0.79	$	7.32

ACCUMULATED OTHER COMPREHENSIVE LOSS

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

Balance at December 31, (in millions)	2015		2014
Foreign currency translation adjustments	$	(9)	$	(7	)
Unrealized losses on derivatives	(7)		(11		)
Pension and post-retirement adjustments (a)	(291)		(339		)
Total	$	(307)	$	(357	)

(a) See Note 13 for further information.