Occidental Petroleum Corporation

Earnings Per Share

Reconciliation to Generally Accepted Accounting Principles (GAAP)

($/share)

Three Months Ended December 31,

Reconciliation - Diluted Earnings Per Share Reported Diluted Earnings (Loss) Per Share (GAAP)

Less: After-Tax Non-Core Adjustments

Oil & Gas

Domestic Foreign Exploration

Chemical

Marketing and Other Midstream Corporate

Interest Other Taxes

Discontinued Operations

Net Income Attributable to Noncontrolling Interests Total After-Tax Non-Core Adjustments

Core Diluted Earnings Per Share (Non-GAAP)

Average Diluted Shares Outstanding (millions)

2020

$

  • (1.41) $

    2019

    (1.50)

    Year Ended December 31, 2020 2019

    $

    (17.06) $ (1.22)

    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 and Free Cash Flow

Reconciliation to Generally Accepted Accounting Principles (GAAP)

($/MM)

Adjusted Operating Cash Flow From Continuing Operations Before Working Capital (Non-GAAP)

Operating cash flow from continuing operations (GAAP)

Plus: Working capital and other, net

Operating cash flow from continuing operations before working capital (Non-GAAP)

Add back one-time impacts from:

Tax impact on divestitures

Anadarko merger-related costs

Adjusted operating cash flow from continuing operations before working capital (Non-GAAP)Free Cash Flow (Non-GAAP)

Operating cash flow from continuing operations (GAAP)

Plus: Working capital and other, net

Operating cash flow from continuing operations before working capital (Non-GAAP)

Less: Capital Expenditures (GAAP)

Free Cash Flow (Non-GAAP)

Three Months Ended December 31,2020

2019

$

1,367 38 1,405

$

1,863 453 2,316

- 37

(643) 673

$

1,442

$

2,346

Three Months Ended, 9/30/2020 12/31/2020

$

$

815

$

1,367

829

38

1,644

1,405

(246)

(614)

1,398

$

791

Year Ended December 31, 2020 2019

$

  • 3,842 $ 1,278

4,375 (1,669)

5,120 2,706

- 237

339 1,597

$

5,459

$

4,540

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OXY - Occidental Petroleum Corporation published this content on 22 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2021 21:15:09 UTC.