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EARNINGS PER SHARE AND EQUITY (Tables) | 3 Months Ended
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Mar. 31, 2024
Stockholders' Equity Note [Abstract] |
Schedule of Calculation of Basic and Diluted EPS | The following table presents the calculation of basic and diluted EPS attributable to common stockholders:
| Three months ended March 31, |
millions except per-share amounts | 2024 | 2023 |  |  |
Income from continuing operations | $ | 706 |  | $ | 1,263 |  |  |  |
Discontinued operations, net of taxes (a) | 182 |  | — |  |  |  |
Net income | $ | 888 |  | $ | 1,263 |  |  |  |
Less: Preferred stock dividends and redemption premiums | (170) |  | (280) |  |  |  |
Net income attributable to common stock | $ | 718 |  | $ | 983 |  |  |  |
Less: Net income allocated to participating securities | (4) |  | (6) |  |  |  |
Net income, net of participating securities | $ | 714 |  | $ | 977 |  |  |  |
Weighted-average number of basic shares | 884.1 | 901.2 |  |  |
Basic income per common share | $ | 0.81 |  | $ | 1.08 |  |  |  |
Net income attributable to common stock | $ | 718 |  | $ | 983 |  |  |  |
Less: Net income allocated to participating securities | (4) |  | (6) |  |  |  |
Net income, net of participating securities | $ | 714 |  | $ | 977 |  |  |  |
Weighted-average number of basic shares | 884.1 |  | 901.2 |  |  |  |
Dilutive securities | 64.5 |  | 74.1 |  |  |  |
Dilutive effect of potentially dilutive securities | 948.6 |  | 975.3 |  |  |  |
Diluted income per common share | $ | 0.75 |  | $ | 1.00 |  |  |  |
(a) See Note 9 - Lawsuits, Claims, Commitments and Contingencies
Schedule of Repurchase Agreements | 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) |  | Common Stock Outstanding (c)
December 31, 2023 |  |  |  | 879,463,103 |
First Quarter 2024 | 3,277,628 |  | 3,978,999 |  |  | 886,719,730 |
(a) Approximately $72 million of cash was received as a result 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) As of March 31, 2024, Occidental has 96.2 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.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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