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STOCKHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2023
Stockholders' Equity Note [Abstract]  
Schedule of repurchase agreements
The following table presents Occidental's common share activity, including exercises of options and warrants, other transactions in Occidental's common stock in 2023 and treasury stock purchased both under its $3.0 billion share repurchase program announced in February 2023 and from the trustee of Occidental's defined contribution savings plan:

PeriodExercise of Warrants and Options
(a)
Other
(b)
Treasury Stock Purchases
(c)
Common Stock Outstanding
(d)
December 31, 2022
899,858,944 
First Quarter 2023
268,371 3,935,166 (12,511,237)891,551,244 
Second Quarter 2023
205,631 158,473 (7,233,460)884,681,888 
Third Quarter 2023
2,468,799 19,248 (9,468,451)877,701,484 
Fourth Quarter 2023
1,901,994 46,192 (186,567)879,463,103 
Total 2023
4,844,795 4,159,079 (29,399,715)879,463,103 
(a)    Approximately $112 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 and the dividend reinvestment plan.
(c)    Included purchases of 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, 2023, Occidental had 99.5 million outstanding warrants with a strike price of $22 per share and 83.9 million of warrants with a strike price of $59.62 per share.
Schedule of obligated preferred stock redemptions
The following table presents preferred stock redemption activity for 2023:

shares of Preferred stock
Preferred stock, as of December 31, 2022100,000 
Less: Preferred redemptions(15,103)
Preferred stock, as of December 31, 202384,897 
Components of preferred stock dividends and redemptions The following presents the components of preferred stock dividends and redemptions:
millionsYear ended December 31, 2023
Preferred dividends$736 
Redemption premium151 
Redemption value in excess of carrying value36 
Preferred dividend and redemption premiums$923 
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 amounts202320222021
Income from continuing operations
$4,696 $13,304 $2,790 
Loss from discontinued operations— — (468)
Net income
$4,696 $13,304 $2,322 
Less: Preferred stock dividends(923)(800)(800)
Net income attributable to common stock
$3,773 $12,504 $1,522 
Less: Net income allocated to participating securities(23)(83)(10)
Net income, net of participating securities
$3,750 $12,421 $1,512 
Weighted-average number of basic shares889.2 926.2 935.0 
Basic earnings per common share
$4.22 $13.41 $1.62 
Net income attributable to common stock$3,773 $12,504 $1,522 
Less: Net income allocated to participating securities(21)(77)(10)
Net income, net of participating securities
$3,752 $12,427 $1,512 
Weighted-average number of basic shares889.2 926.2 935.0 
Dilutive securities71.7 75.8 23.8 
Total diluted weighted-average common shares960.9 1,002.0 958.8 
Diluted earnings per common share
$3.90 $12.40 $1.58 
Components of accumulated other comprehensive income (loss)
Accumulated OCI (loss) consisted of the following after-tax amounts as of December 31:

millions20232022
Foreign currency translation adjustments$(4)$(5)
Derivatives20 (25)
Pension and postretirement adjustments (a)
259 225 
Total$275 $195