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Earnings Per Share and Stockholders' Equity
 9 Months Ended
Sep. 30, 2022
Stockholders' Equity Note [Abstract]  
Earnings Per Share and Stockholders' Equity
NOTE 10 - EARNINGS PER SHARE AND STOCKHOLDERS' EQUITY

The following table presents the effects of Occidental's share repurchases as part of the $3.0 billion stock repurchase plan announced in February 2022, along with other transactions in Occidental's stock:

PeriodExercise of Warrants and Options
(a)
Other
(b)
Treasury Stock Purchases
(c)
Common Stock Outstanding
(d)
December 31, 2021934,074,700 
First Quarter 20221,082,282 2,764,746 (730,746)937,190,982 
Second Quarter 20223,409,920 42,342 (11,679,732)928,963,512 
Third Quarter 20227,667,545 18,280 (28,571,576)908,077,761 
Total 202212,159,747 2,825,368 (40,982,054)908,077,761 
(a)    Approximately $280 million of cash was received as a result of the exercise of common stock warrants and options.
(b)    Consists of issuances from the 2015 long-term incentive plan, the OPC savings plan, dividend reinvestment plan and Anadarko restricted stock awards.
(c)    In addition to the 39.6 million shares that Occidental repurchased under its share repurchase plan during the nine months ended September 30, 2022, Occidental subsequently repurchased an additional 2.2 million shares under its share repurchase plan in the period from October 1, 2022, through November 7, 2022.
(d)    As of September 30, 2022, Occidental has 104.1 million outstanding warrants with a strike of $22 per share and 83.9 million of warrants with a strike of $59.62 per share.

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

Three months ended September 30, Nine months ended September 30,
millions except per-share amounts2022202120222021
Income from continuing operations $2,746 $830 $11,377 $1,229 
Loss from discontinued operations— (2)— (444)
Net income$2,746 $828 $11,377 $785 
Less: Preferred stock dividends(200)(200)(600)(600)
Net income attributable to common stock$2,546 $628 $10,777 $185 
Less: Net income allocated to participating securities(18)(5)(76)(1)
Net income, net of participating securities$2,528 $623 $10,701 $184 
Weighted-average number of basic shares922.0935.4933.0934.4
Basic income per common share$2.74 $0.67 $11.47 $0.20 
Net income attributable to common stock$2,546 $628 $10,777 $185 
Less: Net income allocated to participating securities(17)(5)(70)(1)
Net income, net of participating securities2,529 623 10,707 184 
Weighted-average number of basic shares922.0 935.4 933.0 934.4 
Dilutive securities80.5 22.3 72.9 19.8 
Dilutive effect of potentially dilutive securities1,002.5 957.7 1,005.9 954.2 
Diluted income per common share$2.52 $0.65 $10.64 $0.19 
For the three and nine months ended 2022, there were no Occidental common stock warrants nor options that were excluded from diluted shares. For the three and nine months ended 2021, warrants and options covering approximately 87 million shares of Occidental common stock were excluded from diluted shares as their effect would have been anti-dilutive.