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STOCKHOLDERS' EQUITY | 12 Months Ended
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Dec. 31, 2019
Stockholders' Equity Note [Abstract] |
STOCKHOLDERS' EQUITY |
NOTE 13 - STOCKHOLDERS’ EQUITY
The following is a summary of common stock issuances:
Shares in thousands |  | Common Stock |
Balance, December 31, 2016 |  | 892,215 |
Issued |  | 1,252 |
Options exercised and other, net |  | 2 |
Balance, December 31, 2017 |  | 893,469 |
Issued |  | 1,628 |
Options exercised and other, net |  | 19 |
Balance, December 31, 2018 |  | 895,116 |
Issued in the ordinary course |  | 3,188 |
Issued as part of the Acquisition (a) |  | 146,131 |
Balance, December 31, 2019 |  | 1,044,435 |
(a) | Included approximately 2 million shares of common stock issued to a benefits trust for former Anadarko employees treated as treasury stock at December 31, 2019.
TREASURY STOCK The total number of shares authorized for Occidental’s share repurchase program is 185 million shares of which 44.2 million may yet be purchased under the repurchase program. However, the program does not obligate Occidental to acquire any specific number of shares and may be discontinued at any time. In 2019, 2.7 million shares were purchased at an average price of $66.94 under the program and in 2018, 16.9 million shares were purchased at an average price of $74.92. No shares were purchased under the program in 2017. Additionally, Occidental purchased shares from the trustee of its defined contribution savings plan during each year. As of December 31, 2019, 2018 and 2017, treasury stock shares numbered 150.3 million, 145.7 million, and 128.4 million, respectiv ely. PREFERRED STOCK Occidental has authorized 50 million shares of preferred stock with a par value of $1.00 per share. On August 8, 2019, in connection with the Acquisition, Occidental issued 100,000 shares of series A preferred stock (the Preferred Stock), having a face value of $100,000 per share and a liquidation preference of $105,000 per share plus unpaid accrued dividends. In connection with the preferred stock issuance, Occidental also issued the Warrant. The holder of the Warrant and the Preferred Stock may redeem the Preferred Stock as payment for the exercise price of the Warrant in lieu of cash payment upon exercise. The Preferred Stock is redeemable at Occidental’s option after the 10th anniversary of issuance. Dividends on the Preferred Stock will accrue on the face value at a rate per annum of 8 percent, but will be paid only when, as, and if declared by Occidental’s Board of Directors. At any time, when such dividends have not been paid in full, the unpaid amounts will accrue dividends, compounded quarterly, at a rate per annum of 9 percent. Following the payment in full of any accrued but unpaid dividends, the dividend rate will remain at 9 percent per annum. In January 2020, Occidental paid $200 million in Preferred Stock dividends. At December 31, 2019, Occidental had 100,000 shares of preferred stock issued and outstanding, and none were outstanding in 2018 and 2017. EARNINGS PER SHARE The following table presents the calculation of basic and diluted earnings per share for the years ended December 31:
millions except per share amounts |  | 2019 |  |  | 2018 |  |  | 2017 |
Income (loss) from continuing operations |  | $ | (507 | ) |  | $ | 4,131 |  |  | $ | 1,311 |
Loss from discontinued operations |  | (15 | ) |  | — |  |  | — |
Net income (loss) |  | $ | (522 | ) |  | $ | 4,131 |  |  | $ | 1,311 |
Less: Net income attributable to noncontrolling interest |  | (145 | ) |  | — |  |  | — |
Less: Preferred stock dividends |  | (318 | ) |  | — |  |  | — |
Net income (loss) attributable to common stock |  | $ | (985 | ) |  | $ | 4,131 |  |  | $ | 1,311 |
Less: Net income allocated to participating securities |  | — |  |  | (17 | ) |  | (6 | )
Net income (loss), net of participating securities |  | $ | (985 | ) |  | $ | 4,114 |  |  | $ | 1,305 |
Weighted-average number of basic shares |  | 809.5 |  |  | 761.7 |  |  | 765.1 |
Basic earnings (loss) per common share |  | $ | (1.22 | ) |  | $ | 5.40 |  |  | $ | 1.71 |
Net income (loss), net of participating securities |  | $ | (985 | ) |  | $ | 4,114 |  |  | $ | 1,305 |
Weighted-average number of basic shares |  | 809.5 |  |  | 761.7 |  |  | 765.1 |
Dilutive securities |  | — |  |  | 1.6 |  |  | 0.8 |
Total diluted weighted-average common shares |  | 809.5 |  |  | 763.3 |  |  | 765.9 |
Diluted earnings (loss) per common share |  | $ | (1.22 | ) |  | $ | 5.39 |  |  | $ | 1.70 |
ACCUMULATED OTHER COMPREHENSIVE LOSS Accumulated other comprehensive loss consisted of the following after-tax amounts at December 31:
millions |  | 2019 |  |  | 2018 |
Foreign currency translation adjustments |  | $ | (7 | ) |  | $ | (7 | )
Unrealized gains (losses) on derivatives |  | (122 | ) |  | 5 |
Pension and postretirement adjustments (a) |  | (92 | ) |  | (170 | )
Total |  | $ | (221 | ) |  | $ | (172 | )
(a) See Note 15 - Retirement and Postretirement Benefit Plans for further information.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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