1. Summary of Selected Financial Data
Dollar amounts in millions, except per-share amounts
For the twelve months ended
December 31,
2008 2007 2006 2005 2004
RESULTS OF OPERATIONS
Net sales $ 24,217 $ 18,784 $ 17,175 $ 14,153 $ 10,400
Income from continuing operations $ 6,839 $ 5,078 $ 4,202 $ 4,838 $ 2,197
Net income $ 6,857 $ 5,400 $ 4,191 $ 5,293 $ 2,574
Basic earnings per common share from
continuing operations $ 8.37 $ 6.08 $ 4.93 $ 6.00 $ 2.78
Basic earnings per common share $ 8.39 $ 6.47 $ 4.92 $ 6.56 $ 3.25
Diluted earnings per common share $ 8.35 $ 6.44 $ 4.87 $ 6.47 $ 3.21
Core results (a) $ 7,348 $ 4,405 $ 4,116 $ 3,530 $ 2,090
FINANCIAL POSITION
Total assets $ 41,537 $ 36,519 $ 32,431 $ 26,170 $ 21,440
Long-term debt, net $ 2,049 $ 1,741 $ 2,619 $ 2,873 $ 3,345
Stockholders' equity $ 27,300 $ 22,823 $ 19,252 $ 15,091 $ 10,597
CASH FLOW
Cash provided by operating activities $ 10,652 $ 6,798 $ 6,353 $ 5,337 $ 3,878
Capital expenditures $ (4,664) $ (3,360) $ (2,857) $ (2,200) $ (1,631)
Cash (used) provided by all other investing activities, net $ (4,793) $ 232 $ (1,526) $ (961) $ (797)
Cash used by financing activities $ (1,382) $ (3,045) $ (2,819) $ (1,187) $ (821)
Debt to capitalization 9% 7% 13% 17% 27%
Dividends per common share $ 1.21 $ 0.94 $ 0.80 $ 0.645 $ 0.55
Weighted average shares outstanding (millions)
Basic 817.6 834.9 852.6 806.6 791.2
Diluted 820.8 839.1 860.4 818.2 802.3
(a) Occidental's results of operations often include the effects of significant transactions and events affecting earnings that vary widely and
unpredictably in nature, timing and amount. Therefore, management uses a measure called quot;core resultsquot;, which excludes those items.
This non-GAAP measure is not meant to disassociate those items from management's performance, but rather is meant to provide useful
information to investors interested in comparing Occidental's earnings performance between periods. Reported earnings are considered
representative of management's performance over the long term. Core results is not considered to be an alternative to operating
income in accordance with generally accepted accounting principles.