

NOTE 12	STOCKHOLDERS' EQUITY

The following is a summary of common stock issuances:



Shares in thousands		Common Stock
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
Issued		1,628
Options exercised and other, net		19
Balance, December 31, 2018		895,116

TREASURY STOCK

The total number of shares authorized for Occidental's share repurchase program is 185 million shares of which 46.9 million may yet be purchased under the repurchase program. However, the program does not obligate Occidental to acquire any specific number of shares and may be discontinued at any time. In 2018, 16.9 million shares were purchased at an average price of $74.92 under the program. No shares were purchased under the program in 2017 and 2016. Additionally, Occidental purchased shares from the trustee of its defined contribution savings plan during each year. As of December 31, 2018, 2017 and 2016, treasury stock shares numbered 145.7 million, 128.4 million and 128.0 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, 2018, 2017 and 2016, Occidental had no outstanding shares of preferred stock.

EARNINGS PER SHARE

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



(in millions, except per-share amounts)	2018			2017			2016

Income (loss) from continuing operations attributable to common stock	$	4,131		$	1,311		$	(1,002	)
Income from discontinued operations	—			—			428
Net income (loss)	4,131			1,311			(574		)
Less: Net income allocated to participating securities	(17		)	(6		)	—
Net income (loss), net of participating securities	$	4,114		$	1,305		$	(574	)
Weighted average number of basic shares	761.7			765.1			763.8
Basic earnings (loss) per common share	$	5.40		$	1.71		$	(0.75	)

Net income (loss), net of participating securities	$	4,114		$	1,305		$	(574	)
Weighted average number of basic shares	761.7			765.1			763.8
Dilutive securities	1.6			0.8			—
Total diluted weighted average common shares	763.3			765.9			763.8
Diluted earnings (loss) per common share	$	5.39		$	1.70		$	(0.75	)

ACCUMULATED OTHER COMPREHENSIVE LOSS

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



Balance at December 31, (in millions)	2018			2017
Foreign currency translation adjustments	$	(7	)	$	(7	)
Unrealized gains on derivatives	5			—
Pension and postretirement adjustments ^(a)	(170		)	(251		)
Total	$	(172	)	$	(258	)


(a)	See Note 14 for further information.