Occidental Petroleum : Reconciliation​​ to Generally Accepted Accounting Principles (GAAP)

Occidental Petroleum Corporation

Earnings Per Share

Reconciliation to Generally Accepted Accounting Principles (GAAP)

($/share)

			Three Months Ended June 30,		Six Months Ended Ended June 30,
	Reconciliation - Diluted Earnings Per Share		2020		2019		2020		2019
	Reported Diluted Earnings (Loss) Per Share (GAAP)	$	(9.12)	$	0.84	$	(11.68)	$	1.68
	Less: After-TaxNon-Core Adjustments
	Oil & Gas
	Domestic	$	(4.67)	$	-	$	(4.18)	$	-
	Foreign		(1.02)		-		(1.33)		-
	Exploration		-		-		-		-
	Chemical		-		-		-		-
	Marketing and Other Midstream		(0.01)		-		(1.60)		-
	Corporate
	Interest		-		(0.06)		-		(0.06)
	Other		(0.11)		(0.07)		(0.72)		(0.06)
	Taxes		-		-		-		-
	Discontinued Operations		(1.55)		-		(1.56)		-
	Total After-TaxNon-Core Adjustments	$	(7.36)	$	(0.13)	$	(9.39)	$	(0.12)
	Core Diluted Earnings Per Share (Non-GAAP)	$	(1.76)	$	0.97	$	(2.29)	$	1.80
Average Diluted Shares Outstanding (millions)		915.5		749.5		906.2		750.0

The difference between reported average diluted shares outstanding and core average diluted shares outstanding is immaterial and does not impact the calculation of core earnings per share. As such, core earnings per share is calculated as core income divided by reported average diluted shares outstanding.

Occidental Petroleum Corporation
Adjusted Operating Cash Flow before Working Capital
Reconciliation to Generally Accepted Accounting Principles (GAAP)
($/MM)
	Three months		Six months
		ended		ended
		6/30/2020		6/30/2020
Adjusted Operating Cash Flow From Continuing Operations Before Working Capital (Non-GAAP)
Operating cash flow from continuing operations (GAAP)	$	365	$	1,660
Less: Working capital and other, net		222		411
Operating cash flow from continuing operations before working capital (Non-GAAP)		587		2,071
Add back one-time impacts from:
Anadarko merger-related costs		124		272
Adjusted operating cash flow from continuing operations before working capital (Non-GAAP)	$	711	$	2,343