Occidental Petroleum Corporation

Earnings Per Share

Reconciliation to Generally Accepted Accounting Principles (GAAP)

($

/share)

Three Months Ended September 30,

Nine Months Ended September 30,

Reconciliation - Diluted Earnings Per Share

2019

2018

2019

2018

Reported Diluted Earnings (Loss) Per Share (GAAP)

$

(1.08)

$

2.44

$

0.45

$

4.45

Less: After-TaxNon-Core Adjustments

Oil & Gas

Domestic

$

(0.19)

$

-

$

(0.21)

$

-

Foreign

(0.05)

(0.26)

(0.05)

(0.26)

Exploration

-

-

-

-

Chemical

-

-

-

-

Marketing and Other Midstream

0.10

0.93

0.12

0.92

Corporate

Interest

(0.06)

-

(0.12)

-

Other

(0.94)

-

(1.09)

-

Taxes

(0.03)

-

(0.03)

-

Discontinued Operations

(0.02)

-

(0.02)

-

Total After-TaxNon-Core Adjustments

$

(1.19)

$

0.67

$

(1.40)

$

0.66

Core Diluted Earnings Per Share (Non-GAAP)

$

0.11

$

1.77

$

1.85

$

3.79

Average Diluted Shares Outstanding (millions)

845.7

763.3

782.2

765.8

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 ended

9/30/2019

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

Operating cash flow from continuing operations (GAAP)

$

2,478

Less: Working capital and other, net

(2,148)

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

330

Add back one-time impacts from:

Taxes - Mozambique sale

880

Anadarko merger-related costs

924

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

$

2,134

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Disclaimer

OXY - Occidental Petroleum Corporation published this content on 04 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2019 21:39:13 UTC