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Earnings Per Share
3 Months Ended
Mar. 31, 2017
Earnings Per Share  
Earnings Per Share

12. Earnings Per Share

 

Occidental’s instruments containing rights to nonforfeitable dividends granted in stock-based awards are considered participating securities prior to vesting and, therefore, net income allocated to these participating securities has been deducted from earnings in computing basic and diluted EPS under the two-class method.

 

Basic EPS was computed by dividing net income attributable to common stock, net of income allocated to participating securities, by the weighted-average number of common shares outstanding during each period, net of treasury shares and including vested but unissued shares and share units. The computation of diluted EPS reflects the additional dilutive effect of stock options and unvested stock awards.

 

The following table presents the calculation of basic and diluted EPS for the three months ended March 31, 2017, and 2016 (in millions, except per-share amounts):

 

 

 

Three months ended
March 31

 

 

 

2017

 

2016

 

Basic EPS

 

 

 

 

 

Income (loss) from continuing operations

 

$

117

 

$

(360

)

Discontinued operations, net

 

 

438

 

 

 

 

 

 

 

Net Income

 

117

 

78

 

 

 

 

 

 

 

Less: Net income allocated to participating securities

 

 

 

 

 

 

 

 

 

Net Income, net of participating securities

 

117

 

78

 

 

 

 

 

 

 

Weighted average number of basic shares

 

764.4

 

763.4

 

 

 

 

 

 

 

Basic EPS

 

$

0.15

 

$

0.10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS

 

 

 

 

 

Net income, net of participating securities

 

$

117

 

$

78

 

 

 

 

 

 

 

 

 

Weighted average number of basic shares

 

764.4

 

763.4

 

Dilutive effect of potentially dilutive securities

 

0.8

 

 

 

 

 

 

 

 

Total diluted weighted average common shares

 

765.2

 

763.4

 

 

 

 

 

 

 

Diluted EPS

 

$

0.15

 

$

0.10