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EARNINGS PER SHARE AND EQUITY
 6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
EARNINGS PER SHARE AND EQUITY
NOTE 10 - EARNINGS PER SHARE AND EQUITY

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

Three months ended June 30,Six months ended June 30,
millions except per-share amounts2024202320242023
Income from continuing operations $1,170 $860 $1,876 $2,123 
Discontinued operations, net of taxes (a)
— — 182 — 
Net income$1,170 $860 $2,058 $2,123 
Less: Income attributable to noncontrolling interest(8)— (8)— 
Less: Preferred stock dividends and redemption premiums(170)(255)(340)(535)
Net income attributable to common stock$992 $605 $1,710 $1,588 
Less: Net income allocated to participating securities(7)(4)(10)(10)
Net income, net of participating securities$985 $601 $1,700 $1,578 
Weighted-average number of basic shares893.8889.3889.2895.6
Basic income per common share$1.10 $0.68 $1.91 $1.76 
Net income attributable to common stock$992 $605 $1,710 $1,588 
Less: Net income allocated to participating securities(7)(4)(10)(10)
Net income, net of participating securities$985 $601 $1,700 $1,578 
Weighted-average number of basic shares893.8 889.3 889.2 895.6 
Dilutive securities65.1 69.5 64.9 71.8 
Dilutive effect of potentially dilutive securities958.9 958.8 954.1 967.4 
Diluted income per common share$1.03 $0.63 $1.78 $1.63 
For the three and six months ended June 30, 2024 and 2023, there were no Occidental common stock warrants nor options that were excluded from diluted shares.
The following table presents Occidental's common share activity, including exercises of warrants, and other transactions in Occidental's common stock in 2024:

Period
Exercise of Warrants (a)
Other (b)
Treasury Stock Purchases (c)
Common Stock Outstanding (d)
December 31, 2023879,463,103 
First Quarter 20243,277,628 3,978,999 — 886,719,730 
Second Quarter 202418,875,864 94,789 (130,424)905,559,959 
Total22,153,492 4,073,788 (130,424)905,559,959 
(a)    Approximately $487 million of cash was received in the first six months of 2024 from of the exercise of common stock warrants.
(b)    Consists of issuances from 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 June 30, 2024, Occidental has 77.3 million outstanding warrants with a strike of $22.00 per share and 83.9 million of warrants with a strike of $59.62 per share.