STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2017

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, 2014	890,558
Issued	782
Options exercised and other, net	20
Balance, December 31, 2015	891,360
Issued	843
Options exercised and other, net	12
Balance, December 31, 2016	892,215
Issued	1,252
Options exercised and other, net	2
Balance, December 31, 2017	893,469

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. No shares were purchased under the program in 2017 and 2016. In 2015, Occidental purchased 7.4 million shares under the program at an average cost of $76.99 per share. Additionally, Occidental purchased shares from the trustee of its defined contribution savings plan during each year. As of December 31, 2017, 2016 and 2015, treasury stock shares numbered 128.4 million, 128.0 million and 127.7 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, 2017, 2016 and 2015, 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)	2017		2016		2015
Income (loss) from continuing operations	$	1,311	$	(1,002)	$	(8,146)
Income (loss) from continuing operations attributable to common stock	1,311		(1,002)		(8,146)
Income from discontinued operations	—		428		317
Net income (loss)	1,311		(574)		(7,829)
Less: Net income allocated to participating securities	(6)		—		—
Net income (loss), net of participating securities	$	1,305	$	(574)	$	(7,829)
Weighted average number of basic shares	765.1		763.8		765.6
Basic earnings (loss) per common share	$	1.71	$	(0.75)	$	(10.23)
Net income (loss), net of participating securities	$	1,305	$	(574)	$	(7,829)
Weighted average number of basic shares	765.1		763.8		765.6
Dilutive securities	0.8		—		—
Total diluted weighted average common shares	765.9		763.8		765.6
Diluted earnings (loss) per common share	$	1.70	$	(0.75)	$	(10.23)

ACCUMULATED OTHER COMPREHENSIVE LOSS

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

Balance at December 31, (in millions)	2017		2016
Foreign currency translation adjustments	$	(7)	$	(10)
Unrealized losses on derivatives	—		(13)
Pension and postretirement adjustments (a)	(251)		(243)
Total	$	(258)	$	(266)

(a) See Note 13 for further information.