XML 52 R41.htm IDEA: XBRL DOCUMENT v3.23.1
STOCKHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2022
Stockholders' Equity Note [Abstract]  
Schedule of Repurchase Agreements
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 
Fourth Quarter 202286,309 18,108 (8,323,234)899,858,944 
Total 202212,246,056 2,843,476 (49,305,288)899,858,944 
(a)    Approximately $280 million of cash was received as a result of the exercise of common stock warrants and options.
(b)    Consisted of issuances for the 2015 long-term incentive plan, the OPC savings plan, dividend reinvestment plan and Anadarko restricted stock awards.
(c)    Included purchases of 1,640,719 shares from the trustee of Occidental's defined contribution savings plan that are not part of publicly announced plans or programs.
(d)    As of December 31, 2022, Occidental had 104 million outstanding warrants with a strike of $22 per share and 83.9 million of warrants with a strike of $59.62 per share.
Calculation of Basic and Diluted EPS
The following table presents the calculation of basic and diluted EPS for the years ended December 31:

millions except per share amounts202220212020
Income (loss) from continuing operations$13,304 $2,790 $(13,533)
Loss from discontinued operations— (468)(1,298)
Net income (loss)$13,304 $2,322 $(14,831)
Less: Preferred stock dividends(800)(800)(844)
Net income (loss) attributable to common stock$12,504 $1,522 $(15,675)
Less: Net income allocated to participating securities(83)(10)— 
Net income (loss), net of participating securities$12,421 $1,512 $(15,675)
Weighted-average number of basic shares926.2 935.0 918.7 
Basic earnings (loss) per common share$13.41 $1.62 $(17.06)
Net income (loss) attributable to common stock$12,504 $1,522 $(15,675)
Less: Net income allocated to participating securities(77)(10)— 
Net income (loss), net of participating securities$12,427 $1,512 $(15,675)
Weighted-average number of basic shares926.2 935.0 918.7 
Dilutive securities75.8 23.8 — 
Total diluted weighted-average common shares1,002.0 958.8 918.7 
Diluted earnings (loss) per common share $12.40 $1.58 $(17.06)
Components of accumulated other comprehensive income (loss)
Accumulated OCI (loss) consisted of the following after-tax amounts as of December 31:

millions20222021
Foreign currency translation adjustments$(5)$(8)
Derivatives(25)(104)
Pension and postretirement adjustments (a)
225 (96)
Total$195 $(208)