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Earnings Per Share | 9 Months Ended
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Sep. 30, 2016
Earnings Per Share |
Earnings Per Share | 12. Earnings Per Share Occidental’s instruments containing rights to nonforfeitable dividends granted in stock-based awards are considered participating securities prior to vesting and, therefore, net income allocated to these participating securities has been deducted from earnings in computing basic and diluted EPS under the two-class method. Basic EPS was computed by dividing net income attributable to common stock, net of income allocated to participating securities, by the weighted-average number of common shares outstanding during each period, net of treasury shares and including vested but unissued shares and share units. The computation of diluted EPS reflects the additional dilutive effect of stock options and unvested stock awards. The following table presents the calculation of basic and diluted EPS for the three and nine months ended September 30, 2016 and 2015 (in millions, except per-share amounts):
|  | Three months ended September 30 |  | Nine months ended September 30 |
|  | 2016 |  | 2015 |  | 2016 |  | 2015 |
Basic EPS |  |  |  |  |  |  |  |  |  |  |  |  |
Loss from continuing operations |  | $ | (238) |  | $ | (2,606) |  | $ | (734) |  | $ | (2,641) |
Discontinued operations, net |  |  | (3) |  |  | (3) |  |  | 432 |  |  | (10) |
Net loss |  |  | (241) |  |  | (2,609) |  |  | (302) |  |  | (2,651) |
Less: Net income allocated to participating securities |  |  | — |  |  | — |  |  | — |  |  | — |
Net loss, net of participating securities |  |  | (241) |  |  | (2,609) |  |  | (302) |  |  | (2,651) |
Weighted average number of basic shares |  |  | 764.0 |  |  | 763.3 |  |  | 763.7 |  |  | 766.4 |
Basic EPS |  | $ | (0.32) |  | $ | (3.42) |  | $ | (0.40) |  | $ | (3.46) |
Diluted EPS |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss, net of participating securities |  | $ | (241) |  | $ | (2,609) |  | $ | (302) |  | $ | (2,651) |
Weighted average number of basic shares |  |  | 764.0 |  |  | 763.3 |  |  | 763.7 |  |  | 766.4 |
Dilutive effect of potentially dilutive securities |  |  | — |  |  | — |  |  | — |  |  | — |
Total diluted weighted average common shares |  |  | 764.0 |  |  | 763.3 |  |  | 763.7 |  |  | 766.4 |
Diluted EPS |  | $ | (0.32) |  | $ | (3.42) |  | $ | (0.40) |  | $ | (3.46) |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1278-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=65016374&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
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