Earnings Per Share and Stockholders' Equity

3 Months Ended

Mar. 31, 2022

Stockholders' Equity Note [Abstract]

Earnings Per Share and Stockholders' Equity

NOTE 11 - EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY

The following table presents the calculation of basic and diluted EPS attributable to common stockholders:

	Three months ended March 31,
millions except per-share amounts	2022		2021
Net income from continuing operations	$	4,876	$	299
Loss from discontinued operations	—		(445)
Net income (loss)	$	4,876	$	(146)
Less: Preferred stock dividends	(200)		(200)
Net income (loss) attributable to common stock	$	4,676	$	(346)
Less: Net income allocated to participating securities	(34)		—
Net income (loss), net of participating securities	$	4,642	$	(346)
Weighted-average number of basic shares	936.7		933.1
Basic income (loss) per common share	$	4.96	$	(0.37)
Net income (loss), net of participating securities	4,642		(346)
Dilutive securities	997.7		947.9
Diluted income (loss) per common share	$	4.65	$	(0.36)

For the three months ended March 31, 2022, and 2021, warrants and options covering approximately 84 million and 87 million shares of Occidental common stock, respectively, were excluded from the diluted shares as their effect would have been anti-dilutive. In April 2022, Occidental paid $200 million cash in preferred stock dividends.