|
Occidental Petroleum Announces 4th Quarter 2015 Results
-
2015 year-end cash balance of $4.4 billion
-
2016 capital program not to exceed $3.0 billion with production growth
of 2 to 4 percent from ongoing operations
Occidental
Petroleum Corporation (NYSE:OXY) announced operating cash flow
before working capital for the fourth quarter of 2015 was $944 million,
with total cash on the balance sheet at December 31, 2015 of $4.4
billion. Core results for the fourth quarter of 2015 were a loss of $129
million or $0.17 per diluted share. Reported results were a loss of
$6.78 per diluted share for the quarter, including $5.4 billion of
after-tax charges, mostly due to impairments.
In announcing the results, Chief Executive Officer Stephen I. Chazen
said, “In 2015, we continued exiting our non-core assets in order to
streamline the business. Our 2015 capital spending was down by 36
percent compared to a year ago, and total company production still grew
by 14 percent with Permian Resources growing 47 percent.
“We continue to focus on capital and operating efficiencies. Our Permian
drilling and completion costs declined by 33 percent. Total company
operating costs declined by nearly $2.00 per barrel to $11.57 and fell
further in the fourth quarter. We reduced SG&A by over $225 million or
16 percent during 2015.
“We ended the year with $4.4 billion in cash and expect to receive about
$900 million more from the Ecuador settlement and $300 million in
proceeds from asset sales in the coming months. While the 2016 price
environment remains challenging, we will commit capital to only our
highest return projects. The company’s cash flow priorities remain the
same, with the most important being the safety and maintenance of our
operations and funding dividends. Our 2016 capital program is expected
to be no more than $3.0 billion with production growth of 2 to 4 percent
from ongoing operations.”
QUARTERLY RESULTS
Oil and Gas
Total oil and gas after-tax results reflected a loss of $189 million for
the fourth quarter of 2015, compared to income of $17 million for the
third quarter of 2015 and $317 million for the fourth quarter of 2014.
The decrease in oil and gas results on a sequential and year-over-year
basis was due to the continued decline in commodity prices in the fourth
quarter of 2015, partially offset by higher volumes and lower operating
expenses.
The average WTI and Brent marker prices were $42.18 per barrel and
$44.71 per barrel, respectively, for the fourth quarter of 2015, a
decrease of about 10 percent on a sequential quarterly basis and over 40
percent on a year-over-year basis. Our average worldwide realized crude
oil prices were $38.68 per barrel for the fourth quarter of 2015, a
decrease of 19 percent compared with the third quarter of 2015 and 46
percent compared with the fourth quarter of 2014. Our average worldwide
NGL prices were $14.02 per barrel in the fourth quarter of 2015, a
decline of 4 percent from the preceding quarter and 49 percent from the
fourth quarter of last year. Our average domestic natural gas price was
$1.75 per MCF, a decline of 22 percent in the fourth quarter of 2015
compared with the third quarter of 2015 and a decrease of 51 percent
compared with the fourth quarter of 2014.
For the fourth quarter of 2015, total company average daily oil and gas
production volumes, excluding Williston, increased by 75,000 barrels of
oil equivalent (BOE) to 671,000 BOE from 596,000 BOE in the fourth
quarter of 2014. The sale of our Williston Basin assets closed on
November 20, 2015. Williston daily production averaged 9,000 BOE and
20,000 BOE for the fourth quarters of 2015 and 2014, respectively.
Compared to the fourth quarter of 2014, domestic average daily
production increased by 11,000 BOE to 312,000 BOE in the fourth quarter
of 2015 with the majority of the increase coming from oil production,
which grew by 19,000 barrels to 190,000 barrels per day, with all of the
increase attributable to Permian Resources. The increase in Permian
Resources oil production was partially offset by lower natural gas and
oil production in Piceance and South Texas. International average daily
production increased to 359,000 BOE in the fourth quarter of 2015 from
295,000 BOE in the fourth quarter of 2014. The increase in international
production is mainly due to the ramp up in production at Al Hosn, which
produced 60,000 BOE per day in the fourth quarter of 2015.
Total company average daily oil and gas production for the fourth
quarter was about flat compared to the third quarter of 2015. Fourth
quarter domestic average daily production declined by 3,000 BOE compared
to the third quarter of 2015 due to lower natural gas production from
Piceance and South Texas, where we have curtailed all development
activities due to the gas price environment. The increase in
international average daily production of 2,000 BOE compared to the
third quarter of 2015 reflected improved production rates at Al Hosn and
in Colombia, which increased by 10,000 BOE and 13,000 BOE, respectively,
partially offset by lower production in Iraq.
Total company average daily sales volumes were 721,000 BOE in the fourth
quarter of 2015 compared to 653,000 BOE for the third quarter of 2015
and 615,000 BOE in the fourth quarter of 2014. The improvement was
largely due to higher volumes in Iraq resulting from liftings that
slipped from prior periods and higher production at Al Hosn.
Chemical
Chemical pre-tax core earnings for the fourth quarter of 2015 were $116
million, compared to $174 million in the third quarter of 2015 and $160
million in the fourth quarter of 2014. Compared to the third quarter of
2015, the lower results reflected weaker demand across most product
lines and lower polyvinyl chloride (PVC) prices unfavorably impacting
margins, partially offset by higher caustic soda prices and lower energy
costs. On a year-over-year basis, the lower earnings reflected lower
caustic soda pricing and lower sales volume across most product lines,
partially offset by lower energy costs and improved margins in PVC
resulting primarily from lower ethylene costs.
Midstream and Marketing
Midstream pre-tax core results for the fourth quarter of 2015 were a
loss $45 million, compared to income of $31 million for the third
quarter of 2015 and $168 million for the fourth quarter of 2014. The
decrease in earnings compared to the third quarter of 2015 and fourth
quarter of 2014 reflected lower marketing margins due to narrowing WTI
and LLS differentials. Current quarter loss comparisons to both periods
also included lower pipeline revenues and on a sequential quarterly
basis, lower seasonal margins from our power generation operations.
About Occidental Petroleum
Occidental
Petroleum Corporation is an international oil and gas exploration
and production company with operations in the United States, Middle East
region and Latin America. Headquartered in Houston, Occidental is one of
the largest U.S. oil and gas companies, based on equity market
capitalization. Occidental’s midstream and marketing segment gathers,
processes, transports, stores, purchases and markets hydrocarbons and
other commodities in support of Occidental’s businesses. The company’s
wholly owned subsidiary OxyChem manufactures and markets chlor-alkali
products and vinyls.
Forward-Looking Statements
Portions of this press release contain forward-looking statements and
involve risks and uncertainties that could materially affect expected
results of operations, liquidity, cash flows and business prospects.
Actual results may differ from anticipated results, sometimes
materially, and reported results should not be considered an indication
of future performance. Factors that could cause results to differ
include, but are not limited to: global commodity pricing fluctuations;
supply and demand considerations for Occidental’s products;
higher-than-expected costs; the regulatory approval environment;
reorganization or restructuring of Occidental’s operations; not
successfully completing, or any material delay of, field developments,
expansion projects, capital expenditures, efficiency projects,
acquisitions or dispositions; uncertainties about the estimated
quantities of oil and natural gas reserves; lower-than-expected
production from development projects or acquisitions; exploration risks;
general economic slowdowns domestically or internationally; political
conditions and events; liability under environmental regulations
including remedial actions; litigation; disruption or interruption of
production or manufacturing or facility damage due to accidents,
chemical releases, labor unrest, weather, natural disasters, cyber
attacks or insurgent activity; failure of risk management; changes in
law or regulations; or changes in tax rates. Words such as “estimate,”
“project,” “predict,” “will,” “would,” “should,” “could,” “may,”
“might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,”
“goal,” “target,” “objective,” “likely” or similar expressions that
convey the prospective nature of events or outcomes generally indicate
forward-looking statements. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. Unless legally required, Occidental does not undertake any
obligation to update any forward-looking statements, as a result of new
information, future events or otherwise. Material risks that may affect
Occidental’s results of operations and financial position appear in Part
I, Item 1A “Risk Factors” of the 2014 Form 10-K. Occidental posts or
provides links to important information on its website at www.oxy.com.
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Occidental Petroleum Corporation
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Quarter 4 2015 Earnings Release Schedules Index
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Schedule #
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Schedule Description
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1
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Summary Highlights
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|
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2
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Segment income before tax allocations
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● Core income
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● Non-core adjustments
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● Reported income
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3
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Segment income after tax allocations
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|
|
|
|
|
● Core income
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|
|
|
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|
● Non-core adjustments
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|
|
● Reported income
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4
|
|
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Detail of non-core adjustments
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● Before tax allocations
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● After tax allocations
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5
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GAAP Consolidated Income Statement
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6
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Condensed Balance Sheets
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● 2014
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● 2015
|
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|
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7
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Condensed Statement of Cash Flows - including GAAP reconciliations
|
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|
|
|
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Details of Depreciation, Depletion and Amortization and Capital
Expenditures
|
|
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|
|
|
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8
|
|
|
|
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Daily production
|
|
|
|
|
|
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● MBOE/D
|
|
|
|
|
|
|
● By Commodity
|
|
|
|
|
|
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9
|
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Sales
|
|
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|
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● MBOE/D volumes
|
|
|
|
|
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● Realized prices and related marker prices
|
|
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|
|
|
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|
|
10
|
|
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Oil and Gas $/BOE Costs
|
|
|
|
|
|
|
|
|
11
|
|
|
|
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Segment Core Income Pre-tax Variance Roll-forwards
|
|
|
|
|
|
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● Quarter-over-Quarter
|
|
|
|
|
|
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● Year-over-Year
|
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|
|
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|
|
|
|
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|
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|
|
|
|
|
|
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|
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|
Occidental Petroleum Corporation
|
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Summary Highlights
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
2014
|
|
|
2015
|
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Quarterly
|
|
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Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
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YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
Net income (loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Core ($ millions)
|
|
|
|
$
|
1,095
|
|
|
$
|
1,082
|
|
|
$
|
1,046
|
|
|
$
|
560
|
|
|
$
|
3,783
|
|
|
|
$
|
31
|
|
|
$
|
165
|
|
|
$
|
24
|
|
|
$
|
(129
|
)
|
|
$
|
91
|
|
|
Core EPS - Diluted ($/share)
|
|
|
|
$
|
1.38
|
|
|
$
|
1.38
|
|
|
$
|
1.34
|
|
|
$
|
0.72
|
|
|
$
|
4.83
|
|
|
|
$
|
0.04
|
|
|
$
|
0.21
|
|
|
$
|
0.03
|
|
|
$
|
(0.17
|
)
|
|
$
|
0.12
|
|
|
Effective tax rate
|
|
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
39
|
%
|
|
|
41
|
%
|
|
|
|
75
|
%
|
|
|
65
|
%
|
|
|
90
|
%
|
|
|
29
|
%
|
|
|
86
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reported ($ millions)
|
|
|
|
$
|
1,390
|
|
|
$
|
1,431
|
|
|
$
|
1,208
|
|
|
$
|
(3,413
|
)
|
|
$
|
616
|
|
|
|
$
|
(218
|
)
|
|
$
|
176
|
|
|
$
|
(2,609
|
)
|
|
$
|
(5,178
|
)
|
|
$
|
(7,829
|
)
|
|
Reported EPS - Diluted ($/share)
|
|
|
|
$
|
1.75
|
|
|
$
|
1.82
|
|
|
$
|
1.55
|
|
|
$
|
(4.41
|
)
|
|
$
|
0.79
|
|
|
|
$
|
(0.28
|
)
|
|
$
|
0.23
|
|
|
$
|
(3.42
|
)
|
|
$
|
(6.78
|
)
|
|
$
|
(10.23
|
)
|
|
Effective tax rate
|
|
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
15
|
%
|
|
|
109
|
%
|
|
|
|
8
|
%
|
|
|
64
|
%
|
|
|
15
|
%
|
|
|
18
|
%
|
|
|
14
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Shares Outstanding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic (millions)
|
|
|
|
|
791.3
|
|
|
|
782.6
|
|
|
|
777.4
|
|
|
|
773.1
|
|
|
|
781.1
|
|
|
|
|
769.6
|
|
|
|
766.4
|
|
|
|
763.3
|
|
|
|
763.2
|
|
|
|
765.6
|
|
|
Diluted (millions)
|
|
|
|
|
791.7
|
|
|
|
782.9
|
|
|
|
777.7
|
|
|
|
773.4
|
|
|
|
781.1
|
|
|
|
|
769.6
|
|
|
|
766.6
|
|
|
|
763.3
|
|
|
|
763.2
|
|
|
|
765.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Production
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total US (MBOE/D)
|
|
|
|
|
283
|
|
|
|
286
|
|
|
|
294
|
|
|
|
301
|
|
|
|
292
|
|
|
|
|
307
|
|
|
|
314
|
|
|
|
315
|
|
|
|
312
|
|
|
|
312
|
|
|
US oil (MBBL/D)
|
|
|
|
|
155
|
|
|
|
159
|
|
|
|
162
|
|
|
|
171
|
|
|
|
162
|
|
|
|
|
180
|
|
|
|
188
|
|
|
|
188
|
|
|
|
190
|
|
|
|
187
|
|
|
Worldwide (MBOE/D)
|
|
|
|
|
554
|
|
|
|
558
|
|
|
|
574
|
|
|
|
596
|
|
|
|
571
|
|
|
|
|
626
|
|
|
|
639
|
|
|
|
672
|
|
|
|
671
|
|
|
|
652
|
|
|
Worldwide sales (MBOE/D)
|
|
|
|
|
543
|
|
|
|
557
|
|
|
|
569
|
|
|
|
615
|
|
|
|
572
|
|
|
|
|
618
|
|
|
|
638
|
|
|
|
653
|
|
|
|
721
|
|
|
|
658
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Realizations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide oil ($/BBL)
|
|
|
|
$
|
98.14
|
|
|
$
|
99.30
|
|
|
$
|
94.26
|
|
|
$
|
71.58
|
|
|
$
|
90.13
|
|
|
|
$
|
48.50
|
|
|
$
|
54.55
|
|
|
$
|
47.78
|
|
|
$
|
38.68
|
|
|
$
|
47.10
|
|
|
Worldwide NGL ($/BBL)
|
|
|
|
$
|
41.70
|
|
|
$
|
40.98
|
|
|
$
|
38.20
|
|
|
$
|
27.39
|
|
|
$
|
37.01
|
|
|
|
$
|
17.96
|
|
|
$
|
18.06
|
|
|
$
|
14.68
|
|
|
$
|
14.02
|
|
|
$
|
15.96
|
|
|
Domestic gas ($/MCF)
|
|
|
|
$
|
4.39
|
|
|
$
|
4.15
|
|
|
$
|
3.74
|
|
|
$
|
3.56
|
|
|
$
|
3.97
|
|
|
|
$
|
2.49
|
|
|
$
|
2.09
|
|
|
$
|
2.24
|
|
|
$
|
1.75
|
|
|
$
|
2.15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash Flows ($ millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating before working capital
|
|
|
|
$
|
2,294
|
|
|
$
|
2,070
|
|
|
$
|
2,341
|
|
|
$
|
1,374
|
|
|
$
|
8,079
|
|
|
|
$
|
1,121
|
|
|
$
|
1,517
|
|
|
$
|
1,202
|
|
|
$
|
944
|
|
|
$
|
4,784
|
|
|
Working capital changes
|
|
|
|
|
(252
|
)
|
|
|
204
|
|
|
|
(267
|
)
|
|
|
1,107
|
|
|
|
792
|
|
|
|
|
(555
|
)
|
|
|
(399
|
)
|
|
|
16
|
|
|
|
58
|
|
|
|
(880
|
)
|
|
Other, net
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
(307
|
)
|
|
|
(192
|
)
|
|
|
(151
|
)
|
|
|
(650
|
)
|
|
Operating - continuing operations
|
|
|
|
$
|
2,042
|
|
|
$
|
2,274
|
|
|
$
|
2,074
|
|
|
$
|
2,481
|
|
|
$
|
8,871
|
|
|
|
$
|
566
|
|
|
$
|
811
|
|
|
$
|
1,026
|
|
|
$
|
851
|
|
|
$
|
3,254
|
|
|
Capital expenditures
|
|
|
|
$
|
(1,732
|
)
|
|
$
|
(2,001
|
)
|
|
$
|
(2,003
|
)
|
|
$
|
(2,984
|
)
|
|
$
|
(8,720
|
)
|
|
|
$
|
(1,735
|
)
|
|
$
|
(1,488
|
)
|
|
$
|
(1,219
|
)
|
|
$
|
(1,170
|
)
|
|
$
|
(5,612
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
|
|
2015
|
|
|
|
Year-to-date
|
|
|
|
Mar
|
|
Jun
|
|
Sep
|
|
Dec
|
|
|
|
|
Mar
|
|
Jun
|
|
Sep
|
|
Dec
|
|
|
|
Net income (loss)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Core ($ millions)
|
|
|
|
$
|
1,095
|
|
|
$
|
2,177
|
|
|
$
|
3,223
|
|
|
$
|
3,783
|
|
|
|
|
|
$
|
31
|
|
|
$
|
196
|
|
|
$
|
220
|
|
|
$
|
91
|
|
|
|
|
Core EPS - Diluted ($/share)
|
|
|
|
$
|
1.38
|
|
|
$
|
2.76
|
|
|
$
|
4.10
|
|
|
$
|
4.83
|
|
|
|
|
|
$
|
0.04
|
|
|
$
|
0.25
|
|
|
$
|
0.29
|
|
|
$
|
0.12
|
|
|
|
|
Effective tax rate
|
|
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
|
|
|
75
|
%
|
|
|
67
|
%
|
|
|
74
|
%
|
|
|
86
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reported ($ millions)
|
|
|
|
$
|
1,390
|
|
|
$
|
2,821
|
|
|
$
|
4,029
|
|
|
$
|
616
|
|
|
|
|
|
$
|
(218
|
)
|
|
$
|
(42
|
)
|
|
$
|
(2,651
|
)
|
|
$
|
(7,829
|
)
|
|
|
|
Reported EPS - Diluted ($/share)
|
|
|
|
$
|
1.75
|
|
|
$
|
3.58
|
|
|
$
|
5.13
|
|
|
$
|
0.79
|
|
|
|
|
|
$
|
(0.28
|
)
|
|
$
|
(0.05
|
)
|
|
$
|
(3.46
|
)
|
|
$
|
(10.23
|
)
|
|
|
|
Effective tax rate
|
|
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
109
|
%
|
|
|
|
|
|
8
|
%
|
|
|
113
|
%
|
|
|
5
|
%
|
|
|
14
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Shares Outstanding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic (millions)
|
|
|
|
|
791.3
|
|
|
|
786.9
|
|
|
|
783.7
|
|
|
|
781.1
|
|
|
|
|
|
|
769.6
|
|
|
|
768.0
|
|
|
|
766.4
|
|
|
|
765.6
|
|
|
|
|
Diluted (millions)
|
|
|
|
|
791.7
|
|
|
|
787.2
|
|
|
|
784.1
|
|
|
|
781.1
|
|
|
|
|
|
|
769.6
|
|
|
|
768.0
|
|
|
|
766.4
|
|
|
|
765.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Production
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total US (MBOE/D)
|
|
|
|
|
283
|
|
|
|
284
|
|
|
|
288
|
|
|
|
292
|
|
|
|
|
|
|
307
|
|
|
|
311
|
|
|
|
313
|
|
|
|
312
|
|
|
|
|
US oil (MBBL/D)
|
|
|
|
|
155
|
|
|
|
156
|
|
|
|
159
|
|
|
|
162
|
|
|
|
|
|
|
180
|
|
|
|
184
|
|
|
|
186
|
|
|
|
187
|
|
|
|
|
Worldwide (MBOE/D)
|
|
|
|
|
554
|
|
|
|
555
|
|
|
|
562
|
|
|
|
571
|
|
|
|
|
|
|
626
|
|
|
|
633
|
|
|
|
647
|
|
|
|
652
|
|
|
|
|
Worldwide sales (MBOE/D)
|
|
|
|
|
543
|
|
|
|
551
|
|
|
|
557
|
|
|
|
572
|
|
|
|
|
|
|
618
|
|
|
|
628
|
|
|
|
647
|
|
|
|
658
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Realizations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide oil ($/BBL)
|
|
|
|
$
|
98.14
|
|
|
$
|
98.73
|
|
|
$
|
97.20
|
|
|
$
|
90.13
|
|
|
|
|
|
$
|
48.50
|
|
|
$
|
51.60
|
|
|
$
|
50.33
|
|
|
$
|
47.10
|
|
|
|
|
Worldwide NGL ($/BBL)
|
|
|
|
$
|
41.70
|
|
|
$
|
41.34
|
|
|
$
|
40.27
|
|
|
$
|
37.01
|
|
|
|
|
|
$
|
17.96
|
|
|
$
|
18.01
|
|
|
$
|
16.73
|
|
|
$
|
15.96
|
|
|
|
|
Domestic gas ($/MCF)
|
|
|
|
$
|
4.39
|
|
|
$
|
4.28
|
|
|
$
|
4.10
|
|
|
$
|
3.97
|
|
|
|
|
|
$
|
2.49
|
|
|
$
|
2.29
|
|
|
$
|
2.28
|
|
|
$
|
2.15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash Flows ($ millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating before working capital
|
|
|
|
$
|
2,294
|
|
|
$
|
4,364
|
|
|
$
|
6,705
|
|
|
$
|
8,079
|
|
|
|
|
|
$
|
1,121
|
|
|
$
|
2,638
|
|
|
$
|
3,840
|
|
|
$
|
4,784
|
|
|
|
|
Working capital changes
|
|
|
|
|
(252
|
)
|
|
|
(48
|
)
|
|
|
(315
|
)
|
|
|
792
|
|
|
|
|
|
|
(555
|
)
|
|
|
(954
|
)
|
|
|
(938
|
)
|
|
|
(880
|
)
|
|
|
|
Other, net
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
|
|
-
|
|
|
|
(307
|
)
|
|
|
(499
|
)
|
|
|
(650
|
)
|
|
|
|
Operating - continuing operations
|
|
|
|
$
|
2,042
|
|
|
$
|
4,316
|
|
|
$
|
6,390
|
|
|
$
|
8,871
|
|
|
|
|
|
$
|
566
|
|
|
$
|
1,377
|
|
|
$
|
2,403
|
|
|
$
|
3,254
|
|
|
|
|
Capital expenditures
|
|
|
|
$
|
(1,732
|
)
|
|
$
|
(3,733
|
)
|
|
$
|
(5,736
|
)
|
|
$
|
(8,720
|
)
|
|
|
|
|
$
|
(1,735
|
)
|
|
$
|
(3,223
|
)
|
|
$
|
(4,442
|
)
|
|
$
|
(5,612
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SIGNIFICANT TRANSACTIONS AND EVENTS
AFFECTING EARNINGS
|
|
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. These
events may recur, even across successive reporting periods.
Therefore, management uses a measure called "core results," 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 are not considered to
be an alternative to operating income reported in accordance with
generally accepted accounting principles.
|
|
|
|
|
|
Schedule 1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Occidental Petroleum Corporation
|
|
Segment Income Before
Tax Allocations
|
|
(Amounts in millions, except per share and effective tax rate
amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
2015
|
|
Core Results
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
|
|
$
|
646
|
|
|
$
|
642
|
|
|
$
|
486
|
|
|
$
|
80
|
|
|
$
|
1,854
|
|
|
|
$
|
(236
|
)
|
|
$
|
(67
|
)
|
|
$
|
(179
|
)
|
|
$
|
(222
|
)
|
|
$
|
(704
|
)
|
|
Foreign
|
|
|
|
|
1,092
|
|
|
|
1,096
|
|
|
|
1,103
|
|
|
|
710
|
|
|
|
4,001
|
|
|
|
|
295
|
|
|
|
395
|
|
|
|
342
|
|
|
|
125
|
|
|
|
1,157
|
|
|
Exploration
|
|
|
|
|
(19
|
)
|
|
|
(35
|
)
|
|
|
(18
|
)
|
|
|
(54
|
)
|
|
|
(126
|
)
|
|
|
|
(2
|
)
|
|
|
(4
|
)
|
|
|
(1
|
)
|
|
|
(9
|
)
|
|
|
(16
|
)
|
|
|
|
|
|
|
1,719
|
|
|
|
1,703
|
|
|
|
1,571
|
|
|
|
736
|
|
|
|
5,729
|
|
|
|
|
57
|
|
|
|
324
|
|
|
|
162
|
|
|
|
(106
|
)
|
|
|
437
|
|
|
Chemical
|
|
|
|
|
136
|
|
|
|
133
|
|
|
|
140
|
|
|
|
160
|
|
|
|
569
|
|
|
|
|
139
|
|
|
|
136
|
|
|
|
174
|
|
|
|
116
|
|
|
|
565
|
|
|
Midstream and marketing
|
|
|
|
|
96
|
|
|
|
130
|
|
|
|
155
|
|
|
|
168
|
|
|
|
549
|
|
|
|
|
(5
|
)
|
|
|
84
|
|
|
|
31
|
|
|
|
(45
|
)
|
|
|
65
|
|
|
Segment Earnings
|
|
|
|
|
1,951
|
|
|
|
1,966
|
|
|
|
1,866
|
|
|
|
1,064
|
|
|
|
6,847
|
|
|
|
|
191
|
|
|
|
544
|
|
|
|
367
|
|
|
|
(35
|
)
|
|
|
1,067
|
|
|
Corporate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
|
|
|
|
|
(20
|
)
|
|
|
(18
|
)
|
|
|
(15
|
)
|
|
|
(18
|
)
|
|
|
(71
|
)
|
|
|
|
(28
|
)
|
|
|
(7
|
)
|
|
|
(47
|
)
|
|
|
(59
|
)
|
|
|
(141
|
)
|
|
Other
|
|
|
|
|
(68
|
)
|
|
|
(107
|
)
|
|
|
(83
|
)
|
|
|
(123
|
)
|
|
|
(381
|
)
|
|
|
|
(39
|
)
|
|
|
(61
|
)
|
|
|
(74
|
)
|
|
|
(88
|
)
|
|
|
(262
|
)
|
|
Pre-tax income
|
|
|
|
|
1,863
|
|
|
|
1,841
|
|
|
|
1,768
|
|
|
|
923
|
|
|
|
6,395
|
|
|
|
|
124
|
|
|
|
476
|
|
|
|
246
|
|
|
|
(182
|
)
|
|
|
664
|
|
|
Taxes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal and state
|
|
|
|
|
(215
|
)
|
|
|
(228
|
)
|
|
|
(178
|
)
|
|
|
(82
|
)
|
|
|
(703
|
)
|
|
|
|
14
|
|
|
|
59
|
|
|
|
80
|
|
|
|
159
|
|
|
|
312
|
|
|
Foreign
|
|
|
|
|
(553
|
)
|
|
|
(531
|
)
|
|
|
(544
|
)
|
|
|
(281
|
)
|
|
|
(1,909
|
)
|
|
|
|
(107
|
)
|
|
|
(370
|
)
|
|
|
(302
|
)
|
|
|
(106
|
)
|
|
|
(885
|
)
|
|
Net Income
|
|
|
|
$
|
1,095
|
|
|
$
|
1,082
|
|
|
$
|
1,046
|
|
|
$
|
560
|
|
|
$
|
3,783
|
|
|
|
$
|
31
|
|
|
$
|
165
|
|
|
$
|
24
|
|
|
$
|
(129
|
)
|
|
$
|
91
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Core earnings per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
$
|
1.38
|
|
|
$
|
1.38
|
|
|
$
|
1.34
|
|
|
$
|
0.72
|
|
|
$
|
4.83
|
|
|
|
$
|
0.04
|
|
|
$
|
0.21
|
|
|
$
|
0.03
|
|
|
$
|
(0.17
|
)
|
|
$
|
0.12
|
|
|
Diluted
|
|
|
|
$
|
1.38
|
|
|
$
|
1.38
|
|
|
$
|
1.34
|
|
|
$
|
0.72
|
|
|
$
|
4.83
|
|
|
|
$
|
0.04
|
|
|
$
|
0.21
|
|
|
$
|
0.03
|
|
|
$
|
(0.17
|
)
|
|
$
|
0.12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax rate
|
|
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
39
|
%
|
|
|
41
|
%
|
|
|
|
75
|
%
|
|
|
65
|
%
|
|
|
90
|
%
|
|
|
29
|
%
|
|
|
86
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-core Adjustments
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
|
|
$
|
-
|
|
|
$
|
64
|
|
|
$
|
(3
|
)
|
|
$
|
(4,296
|
)
|
|
$
|
(4,235
|
)
|
|
|
$
|
(277
|
)
|
|
$
|
32
|
|
|
$
|
(1,852
|
)
|
|
$
|
(1,350
|
)
|
|
$
|
(3,447
|
)
|
|
Foreign
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(1,066
|
)
|
|
|
(1,066
|
)
|
|
|
|
(46
|
)
|
|
|
(1
|
)
|
|
|
(1,438
|
)
|
|
|
(3,419
|
)
|
|
|
(4,904
|
)
|
|
Exploration
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(146
|
)
|
|
|
(146
|
)
|
|
|
|
|
|
|
-
|
|
|
|
64
|
|
|
|
(3
|
)
|
|
|
(5,362
|
)
|
|
|
(5,301
|
)
|
|
|
|
(323
|
)
|
|
|
31
|
|
|
|
(3,290
|
)
|
|
|
(4,915
|
)
|
|
|
(8,497
|
)
|
|
Chemical
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(149
|
)
|
|
|
(149
|
)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
98
|
|
|
|
(121
|
)
|
|
|
(23
|
)
|
|
Midstream and marketing
|
|
|
|
|
66
|
|
|
|
78
|
|
|
|
(50
|
)
|
|
|
1,921
|
|
|
|
2,015
|
|
|
|
|
(10
|
)
|
|
|
3
|
|
|
|
(7
|
)
|
|
|
(1,245
|
)
|
|
|
(1,259
|
)
|
|
Segment Earnings
|
|
|
|
|
66
|
|
|
|
142
|
|
|
|
(53
|
)
|
|
|
(3,590
|
)
|
|
|
(3,435
|
)
|
|
|
|
(333
|
)
|
|
|
34
|
|
|
|
(3,199
|
)
|
|
|
(6,281
|
)
|
|
|
(9,779
|
)
|
|
Corporate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
Other
|
|
|
|
|
-
|
|
|
|
(16
|
)
|
|
|
(21
|
)
|
|
|
(1,382
|
)
|
|
|
(1,419
|
)
|
|
|
|
(25
|
)
|
|
|
(6
|
)
|
|
|
(98
|
)
|
|
|
(232
|
)
|
|
|
(361
|
)
|
|
Pre-tax income
|
|
|
|
|
66
|
|
|
|
126
|
|
|
|
(74
|
)
|
|
|
(4,972
|
)
|
|
|
(4,854
|
)
|
|
|
|
(358
|
)
|
|
|
28
|
|
|
|
(3,297
|
)
|
|
|
(6,513
|
)
|
|
|
(10,140
|
)
|
|
Taxes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal and state
|
|
|
|
|
(26
|
)
|
|
|
(50
|
)
|
|
|
23
|
|
|
|
913
|
|
|
|
860
|
|
|
|
|
111
|
|
|
|
(12
|
)
|
|
|
667
|
|
|
|
992
|
|
|
|
1,758
|
|
|
Foreign
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
67
|
|
|
|
67
|
|
|
|
|
1
|
|
|
|
(1
|
)
|
|
|
-
|
|
|
|
145
|
|
|
|
145
|
|
|
Income From Continuing Operations
|
|
|
|
|
40
|
|
|
|
76
|
|
|
|
(51
|
)
|
|
|
(3,992
|
)
|
|
|
(3,927
|
)
|
|
|
|
(246
|
)
|
|
|
15
|
|
|
|
(2,630
|
)
|
|
|
(5,376
|
)
|
|
|
(8,237
|
)
|
|
Discontinued Operations
|
|
|
|
|
255
|
|
|
|
273
|
|
|
|
213
|
|
|
|
19
|
|
|
|
760
|
|
|
|
|
(3
|
)
|
|
|
(4
|
)
|
|
|
(3
|
)
|
|
|
327
|
|
|
|
317
|
|
|
Net Income (loss)
|
|
|
|
$
|
295
|
|
|
$
|
349
|
|
|
$
|
162
|
|
|
$
|
(3,973
|
)
|
|
$
|
(3,167
|
)
|
|
|
$
|
(249
|
)
|
|
$
|
11
|
|
|
$
|
(2,633
|
)
|
|
$
|
(5,049
|
)
|
|
$
|
(7,920
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reported Income
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
|
|
$
|
646
|
|
|
$
|
706
|
|
|
$
|
483
|
|
|
$
|
(4,216
|
)
|
|
$
|
(2,381
|
)
|
|
|
$
|
(513
|
)
|
|
$
|
(35
|
)
|
|
$
|
(2,031
|
)
|
|
$
|
(1,572
|
)
|
|
$
|
(4,151
|
)
|
|
Foreign
|
|
|
|
|
1,092
|
|
|
|
1,096
|
|
|
|
1,103
|
|
|
|
(356
|
)
|
|
|
2,935
|
|
|
|
|
249
|
|
|
|
394
|
|
|
|
(1,096
|
)
|
|
|
(3,294
|
)
|
|
|
(3,747
|
)
|
|
Exploration
|
|
|
|
|
(19
|
)
|
|
|
(35
|
)
|
|
|
(18
|
)
|
|
|
(54
|
)
|
|
|
(126
|
)
|
|
|
|
(2
|
)
|
|
|
(4
|
)
|
|
|
(1
|
)
|
|
|
(155
|
)
|
|
|
(162
|
)
|
|
|
|
|
|
|
1,719
|
|
|
|
1,767
|
|
|
|
1,568
|
|
|
|
(4,626
|
)
|
|
|
428
|
|
|
|
|
(266
|
)
|
|
|
355
|
|
|
|
(3,128
|
)
|
|
|
(5,021
|
)
|
|
|
(8,060
|
)
|
|
Chemical
|
|
|
|
|
136
|
|
|
|
133
|
|
|
|
140
|
|
|
|
11
|
|
|
|
420
|
|
|
|
|
139
|
|
|
|
136
|
|
|
|
272
|
|
|
|
(5
|
)
|
|
|
542
|
|
|
Midstream and marketing
|
|
|
|
|
162
|
|
|
|
208
|
|
|
|
105
|
|
|
|
2,089
|
|
|
|
2,564
|
|
|
|
|
(15
|
)
|
|
|
87
|
|
|
|
24
|
|
|
|
(1,290
|
)
|
|
|
(1,194
|
)
|
|
Segment Earnings
|
|
|
|
|
2,017
|
|
|
|
2,108
|
|
|
|
1,813
|
|
|
|
(2,526
|
)
|
|
|
3,412
|
|
|
|
|
(142
|
)
|
|
|
578
|
|
|
|
(2,832
|
)
|
|
|
(6,316
|
)
|
|
|
(8,712
|
)
|
|
Corporate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
|
|
|
|
|
(20
|
)
|
|
|
(18
|
)
|
|
|
(15
|
)
|
|
|
(18
|
)
|
|
|
(71
|
)
|
|
|
|
(28
|
)
|
|
|
(7
|
)
|
|
|
(47
|
)
|
|
|
(59
|
)
|
|
|
(141
|
)
|
|
Other
|
|
|
|
|
(68
|
)
|
|
|
(123
|
)
|
|
|
(104
|
)
|
|
|
(1,505
|
)
|
|
|
(1,800
|
)
|
|
|
|
(64
|
)
|
|
|
(67
|
)
|
|
|
(172
|
)
|
|
|
(320
|
)
|
|
|
(623
|
)
|
|
Pre-tax income
|
|
|
|
|
1,929
|
|
|
|
1,967
|
|
|
|
1,694
|
|
|
|
(4,049
|
)
|
|
|
1,541
|
|
|
|
|
(234
|
)
|
|
|
504
|
|
|
|
(3,051
|
)
|
|
|
(6,695
|
)
|
|
|
(9,476
|
)
|
|
Taxes
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal and state
|
|
|
|
|
(241
|
)
|
|
|
(278
|
)
|
|
|
(155
|
)
|
|
|
831
|
|
|
|
157
|
|
|
|
|
125
|
|
|
|
47
|
|
|
|
747
|
|
|
|
1,151
|
|
|
|
2,070
|
|
|
Foreign
|
|
|
|
|
(553
|
)
|
|
|
(531
|
)
|
|
|
(544
|
)
|
|
|
(214
|
)
|
|
|
(1,842
|
)
|
|
|
|
(106
|
)
|
|
|
(371
|
)
|
|
|
(302
|
)
|
|
|
39
|
|
|
|
(740
|
)
|
|
Income From Continuing Operations
|
|
|
|
|
1,135
|
|
|
|
1,158
|
|
|
|
995
|
|
|
|
(3,432
|
)
|
|
|
(144
|
)
|
|
|
|
(215
|
)
|
|
|
180
|
|
|
|
(2,606
|
)
|
|
|
(5,505
|
)
|
|
|
(8,146
|
)
|
|
Discontinued Operations
|
|
|
|
|
255
|
|
|
|
273
|
|
|
|
213
|
|
|
|
19
|
|
|
|
760
|
|
|
|
|
(3
|
)
|
|
|
(4
|
)
|
|
|
(3
|
)
|
|
|
327
|
|
|
|
317
|
|
|
Net Income (loss) (a)
|
|
|
|
$
|
1,390
|
|
|
$
|
1,431
|
|
|
$
|
1,208
|
|
|
$
|
(3,413
|
)
|
|
$
|
616
|
|
|
|
$
|
(218
|
)
|
|
$
|
176
|
|
|
$
|
(2,609
|
)
|
|
$
|
(5,178
|
)
|
|
$
|
(7,829
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reported earnings per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
$
|
1.75
|
|
|
$
|
1.83
|
|
|
$
|
1.55
|
|
|
$
|
(4.41
|
)
|
|
$
|
0.79
|
|
|
|
$
|
(0.28
|
)
|
|
$
|
0.23
|
|
|
$
|
(3.42
|
)
|
|
$
|
(6.78
|
)
|
|
$
|
(10.23
|
)
|
|
Diluted
|
|
|
|
$
|
1.75
|
|
|
$
|
1.82
|
|
|
$
|
1.55
|
|
|
$
|
(4.41
|
)
|
|
$
|
0.79
|
|
|
|
$
|
(0.28
|
)
|
|
$
|
0.23
|
|
|
$
|
(3.42
|
)
|
|
$
|
(6.78
|
)
|
|
$
|
(10.23
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective tax rate
|
|
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
41
|
%
|
|
|
15
|
%
|
|
|
109
|
%
|
|
|
|
8
|
%
|
|
|
64
|
%
|
|
|
15
|
%
|
|
|
18
|
%
|
|
|
14
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Represents amounts attributable to common stock after
deducting noncontrolling interest amounts in 2014.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 2
|
|
|
|
|
|
|
Occidental Petroleum Corporation
|
|
Segment Income After Tax
Allocations
|
|
(Amounts in millions, except per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
2015
|
|
Core Results
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
|
|
$
|
412
|
|
|
$
|
409
|
|
|
$
|
310
|
|
|
$
|
59
|
|
|
$
|
1,190
|
|
|
|
$
|
(89
|
)
|
|
$
|
(42
|
)
|
|
$
|
(113
|
)
|
|
$
|
(141
|
)
|
|
$
|
(385
|
)
|
|
Foreign
|
|
|
|
|
587
|
|
|
|
561
|
|
|
|
605
|
|
|
|
304
|
|
|
|
2,057
|
|
|
|
|
69
|
|
|
|
154
|
|
|
|
131
|
|
|
|
(40
|
)
|
|
|
314
|
|
|
Exploration
|
|
|
|
|
(5
|
)
|
|
|
(29
|
)
|
|
|
(15
|
)
|
|
|
(46
|
)
|
|
|
(95
|
)
|
|
|
|
(2
|
)
|
|
|
(4
|
)
|
|
|
(1
|
)
|
|
|
(8
|
)
|
|
|
(15
|
)
|
|
|
|
|
|
|
994
|
|
|
|
941
|
|
|
|
900
|
|
|
|
317
|
|
|
|
3,152
|
|
|
|
|
(22
|
)
|
|
|
108
|
|
|
|
17
|
|
|
|
(189
|
)
|
|
|
(86
|
)
|
|
Chemical
|
|
|
|
|
86
|
|
|
|
84
|
|
|
|
89
|
|
|
|
98
|
|
|
|
357
|
|
|
|
|
88
|
|
|
|
86
|
|
|
|
111
|
|
|
|
73
|
|
|
|
358
|
|
|
Midstream and marketing
|
|
|
|
|
71
|
|
|
|
103
|
|
|
|
118
|
|
|
|
125
|
|
|
|
417
|
|
|
|
|
4
|
|
|
|
66
|
|
|
|
41
|
|
|
|
2
|
|
|
|
113
|
|
|
Segment Earnings
|
|
|
|
|
1,151
|
|
|
|
1,128
|
|
|
|
1,107
|
|
|
|
540
|
|
|
|
3,926
|
|
|
|
|
70
|
|
|
|
260
|
|
|
|
169
|
|
|
|
(114
|
)
|
|
|
385
|
|
|
Corporate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
|
|
|
|
|
(20
|
)
|
|
|
(18
|
)
|
|
|
(15
|
)
|
|
|
(17
|
)
|
|
|
(70
|
)
|
|
|
|
(28
|
)
|
|
|
(7
|
)
|
|
|
(47
|
)
|
|
|
(59
|
)
|
|
|
(141
|
)
|
|
Other
|
|
|
|
|
(68
|
)
|
|
|
(107
|
)
|
|
|
(83
|
)
|
|
|
(124
|
)
|
|
|
(382
|
)
|
|
|
|
(39
|
)
|
|
|
(61
|
)
|
|
|
(74
|
)
|
|
|
(88
|
)
|
|
|
(262
|
)
|
|
Taxes
|
|
|
|
|
32
|
|
|
|
79
|
|
|
|
37
|
|
|
|
161
|
|
|
|
309
|
|
|
|
|
28
|
|
|
|
(27
|
)
|
|
|
(24
|
)
|
|
|
132
|
|
|
|
109
|
|
|
Net Income
|
|
|
|
$
|
1,095
|
|
|
$
|
1,082
|
|
|
$
|
1,046
|
|
|
$
|
560
|
|
|
$
|
3,783
|
|
|
|
$
|
31
|
|
|
$
|
165
|
|
|
$
|
24
|
|
|
$
|
(129
|
)
|
|
$
|
91
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Core earnings per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
$
|
1.38
|
|
|
$
|
1.38
|
|
|
$
|
1.34
|
|
|
$
|
0.72
|
|
|
$
|
4.83
|
|
|
|
$
|
0.04
|
|
|
$
|
0.21
|
|
|
$
|
0.03
|
|
|
$
|
(0.17
|
)
|
|
$
|
0.12
|
|
|
Diluted
|
|
|
|
$
|
1.38
|
|
|
$
|
1.38
|
|
|
$
|
1.34
|
|
|
$
|
0.72
|
|
|
$
|
4.83
|
|
|
|
$
|
0.04
|
|
|
$
|
0.21
|
|
|
$
|
0.03
|
|
|
$
|
(0.17
|
)
|
|
$
|
0.12
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-core Adjustments
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
|
|
$
|
-
|
|
|
$
|
41
|
|
|
$
|
(2
|
)
|
|
$
|
(2,751
|
)
|
|
$
|
(2,712
|
)
|
|
|
$
|
(177
|
)
|
|
$
|
20
|
|
|
$
|
(1,186
|
)
|
|
$
|
(864
|
)
|
|
$
|
(2,207
|
)
|
|
Foreign
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(1,055
|
)
|
|
|
(1,055
|
)
|
|
|
|
(46
|
)
|
|
|
(1
|
)
|
|
|
(1,438
|
)
|
|
|
(3,274
|
)
|
|
|
(4,759
|
)
|
|
Exploration
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(146
|
)
|
|
|
(146
|
)
|
|
|
|
|
|
|
-
|
|
|
|
41
|
|
|
|
(2
|
)
|
|
|
(3,806
|
)
|
|
|
(3,767
|
)
|
|
|
|
(223
|
)
|
|
|
19
|
|
|
|
(2,624
|
)
|
|
|
(4,284
|
)
|
|
|
(7,112
|
)
|
|
Chemical
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(94
|
)
|
|
|
(94
|
)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
63
|
|
|
|
(78
|
)
|
|
|
(15
|
)
|
|
Midstream and marketing
|
|
|
|
|
40
|
|
|
|
47
|
|
|
|
(30
|
)
|
|
|
1,225
|
|
|
|
1,282
|
|
|
|
|
(4
|
)
|
|
|
2
|
|
|
|
(4
|
)
|
|
|
(807
|
)
|
|
|
(813
|
)
|
|
Segment Earnings
|
|
|
|
|
40
|
|
|
|
88
|
|
|
|
(32
|
)
|
|
|
(2,675
|
)
|
|
|
(2,579
|
)
|
|
|
|
(227
|
)
|
|
|
21
|
|
|
|
(2,565
|
)
|
|
|
(5,169
|
)
|
|
|
(7,940
|
)
|
|
Corporate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
Other
|
|
|
|
|
-
|
|
|
|
(12
|
)
|
|
|
(19
|
)
|
|
|
(1,261
|
)
|
|
|
(1,292
|
)
|
|
|
|
(19
|
)
|
|
|
(6
|
)
|
|
|
(65
|
)
|
|
|
(225
|
)
|
|
|
(315
|
)
|
|
Taxes
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(56
|
)
|
|
|
(56
|
)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
18
|
|
|
|
18
|
|
|
Income From Continuing Operations
|
|
|
|
|
40
|
|
|
|
76
|
|
|
|
(51
|
)
|
|
|
(3,992
|
)
|
|
|
(3,927
|
)
|
|
|
|
(246
|
)
|
|
|
15
|
|
|
|
(2,630
|
)
|
|
|
(5,376
|
)
|
|
|
(8,237
|
)
|
|
Discontinued Operations
|
|
|
|
|
255
|
|
|
|
273
|
|
|
|
213
|
|
|
|
19
|
|
|
|
760
|
|
|
|
|
(3
|
)
|
|
|
(4
|
)
|
|
|
(3
|
)
|
|
|
327
|
|
|
|
317
|
|
|
Net Income (loss)
|
|
|
|
$
|
295
|
|
|
$
|
349
|
|
|
$
|
162
|
|
|
$
|
(3,973
|
)
|
|
$
|
(3,167
|
)
|
|
|
$
|
(249
|
)
|
|
$
|
11
|
|
|
$
|
(2,633
|
)
|
|
$
|
(5,049
|
)
|
|
$
|
(7,920
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reported Income
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
|
|
$
|
412
|
|
|
$
|
450
|
|
|
$
|
308
|
|
|
$
|
(2,692
|
)
|
|
$
|
(1,522
|
)
|
|
|
$
|
(266
|
)
|
|
$
|
(22
|
)
|
|
$
|
(1,299
|
)
|
|
$
|
(1,005
|
)
|
|
$
|
(2,592
|
)
|
|
Foreign
|
|
|
|
|
587
|
|
|
|
561
|
|
|
|
605
|
|
|
|
(751
|
)
|
|
|
1,002
|
|
|
|
|
23
|
|
|
|
153
|
|
|
|
(1,307
|
)
|
|
|
(3,314
|
)
|
|
|
(4,445
|
)
|
|
Exploration
|
|
|
|
|
(5
|
)
|
|
|
(29
|
)
|
|
|
(15
|
)
|
|
|
(46
|
)
|
|
|
(95
|
)
|
|
|
|
(2
|
)
|
|
|
(4
|
)
|
|
|
(1
|
)
|
|
|
(154
|
)
|
|
|
(161
|
)
|
|
|
|
|
|
|
994
|
|
|
|
982
|
|
|
|
898
|
|
|
|
(3,489
|
)
|
|
|
(615
|
)
|
|
|
|
(245
|
)
|
|
|
127
|
|
|
|
(2,607
|
)
|
|
|
(4,473
|
)
|
|
|
(7,198
|
)
|
|
Chemical
|
|
|
|
|
86
|
|
|
|
84
|
|
|
|
89
|
|
|
|
4
|
|
|
|
263
|
|
|
|
|
88
|
|
|
|
86
|
|
|
|
174
|
|
|
|
(5
|
)
|
|
|
343
|
|
|
Midstream and marketing
|
|
|
|
|
111
|
|
|
|
150
|
|
|
|
88
|
|
|
|
1,350
|
|
|
|
1,699
|
|
|
|
|
-
|
|
|
|
68
|
|
|
|
37
|
|
|
|
(805
|
)
|
|
|
(700
|
)
|
|
Segment Earnings
|
|
|
|
|
1,191
|
|
|
|
1,216
|
|
|
|
1,075
|
|
|
|
(2,135
|
)
|
|
|
1,347
|
|
|
|
|
(157
|
)
|
|
|
281
|
|
|
|
(2,396
|
)
|
|
|
(5,283
|
)
|
|
|
(7,555
|
)
|
|
Corporate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
|
|
|
|
|
(20
|
)
|
|
|
(18
|
)
|
|
|
(15
|
)
|
|
|
(17
|
)
|
|
|
(70
|
)
|
|
|
|
(28
|
)
|
|
|
(7
|
)
|
|
|
(47
|
)
|
|
|
(59
|
)
|
|
|
(141
|
)
|
|
Other
|
|
|
|
|
(68
|
)
|
|
|
(119
|
)
|
|
|
(102
|
)
|
|
|
(1,385
|
)
|
|
|
(1,674
|
)
|
|
|
|
(58
|
)
|
|
|
(67
|
)
|
|
|
(139
|
)
|
|
|
(313
|
)
|
|
|
(577
|
)
|
|
Taxes
|
|
|
|
|
32
|
|
|
|
79
|
|
|
|
37
|
|
|
|
105
|
|
|
|
253
|
|
|
|
|
28
|
|
|
|
(27
|
)
|
|
|
(24
|
)
|
|
|
150
|
|
|
|
127
|
|
|
Income From Continuing Operations
|
|
|
|
|
1,135
|
|
|
|
1,158
|
|
|
|
995
|
|
|
|
(3,432
|
)
|
|
|
(144
|
)
|
|
|
|
(215
|
)
|
|
|
180
|
|
|
|
(2,606
|
)
|
|
|
(5,505
|
)
|
|
|
(8,146
|
)
|
|
Discontinued Operations
|
|
|
|
|
255
|
|
|
|
273
|
|
|
|
213
|
|
|
|
19
|
|
|
|
760
|
|
|
|
|
(3
|
)
|
|
|
(4
|
)
|
|
|
(3
|
)
|
|
|
327
|
|
|
|
317
|
|
|
Net Income (loss) (a)
|
|
|
|
$
|
1,390
|
|
|
$
|
1,431
|
|
|
$
|
1,208
|
|
|
$
|
(3,413
|
)
|
|
$
|
616
|
|
|
|
$
|
(218
|
)
|
|
$
|
176
|
|
|
$
|
(2,609
|
)
|
|
$
|
(5,178
|
)
|
|
$
|
(7,829
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reported earnings per share
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
|
$
|
1.75
|
|
|
$
|
1.83
|
|
|
$
|
1.55
|
|
|
$
|
(4.41
|
)
|
|
$
|
0.79
|
|
|
|
$
|
(0.28
|
)
|
|
$
|
0.23
|
|
|
$
|
(3.42
|
)
|
|
$
|
(6.78
|
)
|
|
$
|
(10.23
|
)
|
|
Diluted
|
|
|
|
$
|
1.75
|
|
|
$
|
1.82
|
|
|
$
|
1.55
|
|
|
$
|
(4.41
|
)
|
|
$
|
0.79
|
|
|
|
$
|
(0.28
|
)
|
|
$
|
0.23
|
|
|
$
|
(3.42
|
)
|
|
$
|
(6.78
|
)
|
|
$
|
(10.23
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Represents amounts attributable to common stock after
deducting noncontrolling interest amounts in 2014.
|
|
|
|
|
|
Schedule 3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Occidental Petroleum Corporation
|
|
Non-core Adjustments Detail
|
|
(Amounts in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
2015
|
|
Before Tax Allocations
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset sales gains (losses)
|
|
|
|
$
|
-
|
|
|
$
|
535
|
|
|
$
|
(3
|
)
|
|
$
|
(1
|
)
|
|
$
|
531
|
|
|
|
$
|
(13
|
)
|
|
$
|
18
|
|
|
$
|
-
|
|
|
$
|
5
|
|
|
$
|
10
|
|
|
Asset impairments and related items
|
|
|
|
|
-
|
|
|
|
(471
|
)
|
|
|
-
|
|
|
|
(4,295
|
)
|
|
|
(4,766
|
)
|
|
|
|
(264
|
)
|
|
|
14
|
|
|
|
(1,852
|
)
|
|
|
(1,355
|
)
|
|
|
(3,457
|
)
|
|
|
|
|
|
|
-
|
|
|
|
64
|
|
|
|
(3
|
)
|
|
|
(4,296
|
)
|
|
|
(4,235
|
)
|
|
|
|
(277
|
)
|
|
|
32
|
|
|
|
(1,852
|
)
|
|
|
(1,350
|
)
|
|
|
(3,447
|
)
|
|
Foreign
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset impairments and related items
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(1,066
|
)
|
|
|
(1,066
|
)
|
|
|
|
(46
|
)
|
|
|
(1
|
)
|
|
|
(1,438
|
)
|
|
|
(3,565
|
)
|
|
|
(5,050
|
)
|
|
Total Oil and Gas
|
|
|
|
|
-
|
|
|
|
64
|
|
|
|
(3
|
)
|
|
|
(5,362
|
)
|
|
|
(5,301
|
)
|
|
|
|
(323
|
)
|
|
|
31
|
|
|
|
(3,290
|
)
|
|
|
(4,915
|
)
|
|
|
(8,497
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemical
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset sale gain
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
98
|
|
|
|
-
|
|
|
|
98
|
|
|
Asset impairments
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(149
|
)
|
|
|
(149
|
)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(121
|
)
|
|
|
(121
|
)
|
|
Total Chemical
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(149
|
)
|
|
|
(149
|
)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
98
|
|
|
|
(121
|
)
|
|
|
(23
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Midstream and marketing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset sales gains
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,984
|
|
|
|
1,984
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
Asset impairments and related items
|
|
|
|
|
66
|
|
|
|
78
|
|
|
|
(50
|
)
|
|
|
(63
|
)
|
|
|
31
|
|
|
|
|
(10
|
)
|
|
|
3
|
|
|
|
(7
|
)
|
|
|
(1,245
|
)
|
|
|
(1,259
|
)
|
|
Total Midstream
|
|
|
|
|
66
|
|
|
|
78
|
|
|
|
(50
|
)
|
|
|
1,921
|
|
|
|
2,015
|
|
|
|
|
(10
|
)
|
|
|
3
|
|
|
|
(7
|
)
|
|
|
(1,245
|
)
|
|
|
(1,259
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset sales gains (losses)
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
(11
|
)
|
|
|
-
|
|
|
|
2
|
|
|
|
1
|
|
|
|
(8
|
)
|
|
Asset impairments
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(1,358
|
)
|
|
|
(1,358
|
)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(5
|
)
|
|
|
(230
|
)
|
|
|
(235
|
)
|
|
Severance, spin-off costs and other items
|
|
|
|
|
-
|
|
|
|
(16
|
)
|
|
|
(21
|
)
|
|
|
(24
|
)
|
|
|
(61
|
)
|
|
|
|
(14
|
)
|
|
|
(6
|
)
|
|
|
(95
|
)
|
|
|
(3
|
)
|
|
|
(118
|
)
|
|
Total Corporate
|
|
|
|
|
-
|
|
|
|
(16
|
)
|
|
|
(21
|
)
|
|
|
(1,382
|
)
|
|
|
(1,419
|
)
|
|
|
|
(25
|
)
|
|
|
(6
|
)
|
|
|
(98
|
)
|
|
|
(232
|
)
|
|
|
(361
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxes
|
|
|
|
|
(26
|
)
|
|
|
(50
|
)
|
|
|
23
|
|
|
|
980
|
|
|
|
927
|
|
|
|
|
112
|
|
|
|
(13
|
)
|
|
|
667
|
|
|
|
1,137
|
|
|
|
1,903
|
|
|
Income From Continuing Operations
|
|
|
|
|
40
|
|
|
|
76
|
|
|
|
(51
|
)
|
|
|
(3,992
|
)
|
|
|
(3,927
|
)
|
|
|
|
(246
|
)
|
|
|
15
|
|
|
|
(2,630
|
)
|
|
|
(5,376
|
)
|
|
|
(8,237
|
)
|
|
Discontinued Operations
|
|
|
|
|
255
|
|
|
|
273
|
|
|
|
213
|
|
|
|
19
|
|
|
|
760
|
|
|
|
|
(3
|
)
|
|
|
(4
|
)
|
|
|
(3
|
)
|
|
|
327
|
|
|
|
317
|
|
|
Totals
|
|
|
|
$
|
295
|
|
|
$
|
349
|
|
|
$
|
162
|
|
|
$
|
(3,973
|
)
|
|
$
|
(3,167
|
)
|
|
|
$
|
(249
|
)
|
|
$
|
11
|
|
|
$
|
(2,633
|
)
|
|
$
|
(5,049
|
)
|
|
$
|
(7,920
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
2015
|
|
After Tax Allocations
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Domestic
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset sales gains (losses)
|
|
|
|
$
|
-
|
|
|
$
|
341
|
|
|
$
|
(2
|
)
|
|
$
|
(1
|
)
|
|
$
|
338
|
|
|
|
$
|
(8
|
)
|
|
$
|
11
|
|
|
$
|
(1
|
)
|
|
$
|
3
|
|
|
$
|
5
|
|
|
Asset impairments and related items
|
|
|
|
|
-
|
|
|
|
(300
|
)
|
|
|
-
|
|
|
|
(2,750
|
)
|
|
|
(3,050
|
)
|
|
|
|
(169
|
)
|
|
|
9
|
|
|
|
(1,185
|
)
|
|
|
(867
|
)
|
|
|
(2,212
|
)
|
|
|
|
|
|
|
-
|
|
|
|
41
|
|
|
|
(2
|
)
|
|
|
(2,751
|
)
|
|
|
(2,712
|
)
|
|
|
|
(177
|
)
|
|
|
20
|
|
|
|
(1,186
|
)
|
|
|
(864
|
)
|
|
|
(2,207
|
)
|
|
Foreign
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset impairments and related items
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(1,055
|
)
|
|
|
(1,055
|
)
|
|
|
|
(46
|
)
|
|
|
(1
|
)
|
|
|
(1,438
|
)
|
|
|
(3,420
|
)
|
|
|
(4,905
|
)
|
|
Total Oil and Gas
|
|
|
|
|
-
|
|
|
|
41
|
|
|
|
(2
|
)
|
|
|
(3,806
|
)
|
|
|
(3,767
|
)
|
|
|
|
(223
|
)
|
|
|
19
|
|
|
|
(2,624
|
)
|
|
|
(4,284
|
)
|
|
|
(7,112
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemical
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset sale gain
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
63
|
|
|
|
-
|
|
|
|
63
|
|
|
Asset impairments
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(94
|
)
|
|
|
(94
|
)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(78
|
)
|
|
|
(78
|
)
|
|
Total Chemical
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(94
|
)
|
|
|
(94
|
)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
63
|
|
|
|
(78
|
)
|
|
|
(15
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Midstream and marketing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset sales gains
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,264
|
|
|
|
1,264
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
Asset impairments and related items
|
|
|
|
|
40
|
|
|
|
47
|
|
|
|
(30
|
)
|
|
|
(39
|
)
|
|
|
18
|
|
|
|
|
(4
|
)
|
|
|
2
|
|
|
|
(4
|
)
|
|
|
(807
|
)
|
|
|
(813
|
)
|
|
Total Midstream
|
|
|
|
|
40
|
|
|
|
47
|
|
|
|
(30
|
)
|
|
|
1,225
|
|
|
|
1,282
|
|
|
|
|
(4
|
)
|
|
|
2
|
|
|
|
(4
|
)
|
|
|
(807
|
)
|
|
|
(813
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset sales gains (losses)
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
(7
|
)
|
|
|
-
|
|
|
|
1
|
|
|
|
1
|
|
|
|
(5
|
)
|
|
Asset impairments
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(1,240
|
)
|
|
|
(1,240
|
)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(5
|
)
|
|
|
(229
|
)
|
|
|
(234
|
)
|
|
Severance, spin-off costs and other items
|
|
|
|
|
-
|
|
|
|
(12
|
)
|
|
|
(19
|
)
|
|
|
(21
|
)
|
|
|
(52
|
)
|
|
|
|
(12
|
)
|
|
|
(6
|
)
|
|
|
(61
|
)
|
|
|
3
|
|
|
|
(76
|
)
|
|
Total Corporate
|
|
|
|
|
-
|
|
|
|
(12
|
)
|
|
|
(19
|
)
|
|
|
(1,261
|
)
|
|
|
(1,292
|
)
|
|
|
|
(19
|
)
|
|
|
(6
|
)
|
|
|
(65
|
)
|
|
|
(225
|
)
|
|
|
(315
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxes
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(56
|
)
|
|
|
(56
|
)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
18
|
|
|
|
18
|
|
|
Income From Continuing Operations
|
|
|
|
|
40
|
|
|
|
76
|
|
|
|
(51
|
)
|
|
|
(3,992
|
)
|
|
|
(3,927
|
)
|
|
|
|
(246
|
)
|
|
|
15
|
|
|
|
(2,630
|
)
|
|
|
(5,376
|
)
|
|
|
(8,237
|
)
|
|
Discontinued Operations
|
|
|
|
|
255
|
|
|
|
273
|
|
|
|
213
|
|
|
|
19
|
|
|
|
760
|
|
|
|
|
(3
|
)
|
|
|
(4
|
)
|
|
|
(3
|
)
|
|
|
327
|
|
|
|
317
|
|
|
Totals
|
|
|
|
$
|
295
|
|
|
$
|
349
|
|
|
$
|
162
|
|
|
$
|
(3,973
|
)
|
|
$
|
(3,167
|
)
|
|
|
$
|
(249
|
)
|
|
$
|
11
|
|
|
$
|
(2,633
|
)
|
|
$
|
(5,049
|
)
|
|
$
|
(7,920
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Occidental Petroleum Corporation
|
|
Consolidated Condensed Statements of Operations
|
|
(Amounts in millions, except per-share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
2015
|
|
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
REVENUES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil and gas
|
|
|
|
$
|
3,602
|
|
|
$
|
3,703
|
|
|
$
|
3,586
|
|
|
$
|
2,996
|
|
|
$
|
13,887
|
|
|
|
$
|
2,009
|
|
|
$
|
2,342
|
|
|
$
|
2,054
|
|
|
$
|
1,899
|
|
|
$
|
8,304
|
|
|
Chemical
|
|
|
|
|
1,220
|
|
|
|
1,242
|
|
|
|
1,232
|
|
|
|
1,123
|
|
|
|
4,817
|
|
|
|
|
1,000
|
|
|
|
1,030
|
|
|
|
1,008
|
|
|
|
907
|
|
|
|
3,945
|
|
|
Midstream and marketing
|
|
|
|
|
340
|
|
|
|
440
|
|
|
|
261
|
|
|
|
332
|
|
|
|
1,373
|
|
|
|
|
197
|
|
|
|
294
|
|
|
|
231
|
|
|
|
169
|
|
|
|
891
|
|
|
Eliminations
|
|
|
|
|
(194
|
)
|
|
|
(252
|
)
|
|
|
(175
|
)
|
|
|
(144
|
)
|
|
|
(765
|
)
|
|
|
|
(117
|
)
|
|
|
(197
|
)
|
|
|
(177
|
)
|
|
|
(169
|
)
|
|
|
(660
|
)
|
|
|
|
|
|
|
4,968
|
|
|
|
5,133
|
|
|
|
4,904
|
|
|
|
4,307
|
|
|
|
19,312
|
|
|
|
|
3,089
|
|
|
|
3,469
|
|
|
|
3,116
|
|
|
|
2,806
|
|
|
|
12,480
|
|
|
Interest, dividends and other income
|
|
|
|
|
30
|
|
|
|
47
|
|
|
|
31
|
|
|
|
22
|
|
|
|
130
|
|
|
|
|
31
|
|
|
|
26
|
|
|
|
31
|
|
|
|
30
|
|
|
|
118
|
|
|
Gain (loss) on sale of assets and equity investments, net
|
|
|
|
|
-
|
|
|
|
525
|
|
|
|
(5
|
)
|
|
|
1,985
|
|
|
|
2,505
|
|
|
|
|
(24
|
)
|
|
|
19
|
|
|
|
99
|
|
|
|
7
|
|
|
|
101
|
|
|
|
|
|
|
|
4,998
|
|
|
|
5,705
|
|
|
|
4,930
|
|
|
|
6,314
|
|
|
|
21,947
|
|
|
|
|
3,096
|
|
|
|
3,514
|
|
|
|
3,246
|
|
|
|
2,843
|
|
|
|
12,699
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COSTS AND OTHER DEDUCTIONS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales
|
|
|
|
|
1,643
|
|
|
|
1,691
|
|
|
|
1,736
|
|
|
|
1,733
|
|
|
|
6,803
|
|
|
|
|
1,557
|
|
|
|
1,480
|
|
|
|
1,413
|
|
|
|
1,354
|
|
|
|
5,804
|
|
|
Depreciation, depletion and amortization
|
|
|
|
|
977
|
|
|
|
1,024
|
|
|
|
1,056
|
|
|
|
1,204
|
|
|
|
4,261
|
|
|
|
|
1,029
|
|
|
|
1,116
|
|
|
|
1,123
|
|
|
|
1,276
|
|
|
|
4,544
|
|
|
Selling, general and administrative and other operating expenses
|
|
|
|
|
317
|
|
|
|
429
|
|
|
|
355
|
|
|
|
402
|
|
|
|
1,503
|
|
|
|
|
311
|
|
|
|
347
|
|
|
|
292
|
|
|
|
320
|
|
|
|
1,270
|
|
|
Asset impairments and related items
|
|
|
|
|
-
|
|
|
|
471
|
|
|
|
-
|
|
|
|
6,908
|
|
|
|
7,379
|
|
|
|
|
324
|
|
|
|
-
|
|
|
|
3,397
|
|
|
|
6,518
|
|
|
|
10,239
|
|
|
Taxes other than on income
|
|
|
|
|
151
|
|
|
|
144
|
|
|
|
135
|
|
|
|
120
|
|
|
|
550
|
|
|
|
|
107
|
|
|
|
107
|
|
|
|
79
|
|
|
|
50
|
|
|
|
343
|
|
|
Exploration expense
|
|
|
|
|
24
|
|
|
|
39
|
|
|
|
28
|
|
|
|
59
|
|
|
|
150
|
|
|
|
|
8
|
|
|
|
10
|
|
|
|
5
|
|
|
|
13
|
|
|
|
36
|
|
|
Interest and debt expense, net
|
|
|
|
|
22
|
|
|
|
20
|
|
|
|
16
|
|
|
|
19
|
|
|
|
77
|
|
|
|
|
30
|
|
|
|
8
|
|
|
|
48
|
|
|
|
61
|
|
|
|
147
|
|
|
|
|
|
|
|
3,134
|
|
|
|
3,818
|
|
|
|
3,326
|
|
|
|
10,445
|
|
|
|
20,723
|
|
|
|
|
3,366
|
|
|
|
3,068
|
|
|
|
6,357
|
|
|
|
9,592
|
|
|
|
22,383
|
|
|
INCOME (LOSS) BEFORE INCOME TAXES AND OTHER ITEMS
|
|
|
|
|
1,864
|
|
|
|
1,887
|
|
|
|
1,604
|
|
|
|
(4,131
|
)
|
|
|
1,224
|
|
|
|
|
(270
|
)
|
|
|
446
|
|
|
|
(3,111
|
)
|
|
|
(6,749
|
)
|
|
|
(9,684
|
)
|
|
Benefit from (provision for) domestic and foreign income taxes
|
|
|
|
|
(794
|
)
|
|
|
(809
|
)
|
|
|
(699
|
)
|
|
|
617
|
|
|
|
(1,685
|
)
|
|
|
|
19
|
|
|
|
(324
|
)
|
|
|
445
|
|
|
|
1,190
|
|
|
|
1,330
|
|
|
Income from equity investments
|
|
|
|
|
67
|
|
|
|
83
|
|
|
|
93
|
|
|
|
88
|
|
|
|
331
|
|
|
|
|
36
|
|
|
|
58
|
|
|
|
60
|
|
|
|
54
|
|
|
|
208
|
|
|
INCOME (LOSS) FROM CONTINUING OPERATIONS
|
|
|
|
|
1,137
|
|
|
|
1,161
|
|
|
|
998
|
|
|
|
(3,426
|
)
|
|
|
(130
|
)
|
|
|
|
(215
|
)
|
|
|
180
|
|
|
|
(2,606
|
)
|
|
|
(5,505
|
)
|
|
|
(8,146
|
)
|
|
Discontinued operations, net
|
|
|
|
|
255
|
|
|
|
273
|
|
|
|
213
|
|
|
|
19
|
|
|
|
760
|
|
|
|
|
(3
|
)
|
|
|
(4
|
)
|
|
|
(3
|
)
|
|
|
327
|
|
|
|
317
|
|
|
NET INCOME (LOSS)
|
|
|
|
|
1,392
|
|
|
|
1,434
|
|
|
|
1,211
|
|
|
|
(3,407
|
)
|
|
|
630
|
|
|
|
|
(218
|
)
|
|
|
176
|
|
|
|
(2,609
|
)
|
|
|
(5,178
|
)
|
|
|
(7,829
|
)
|
|
Less: Net income (loss) attributable to noncontrolling interest
|
|
|
|
|
(2
|
)
|
|
|
(3
|
)
|
|
|
(3
|
)
|
|
|
(6
|
)
|
|
|
(14
|
)
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCK
|
|
|
|
$
|
1,390
|
|
|
$
|
1,431
|
|
|
$
|
1,208
|
|
|
$
|
(3,413
|
)
|
|
$
|
616
|
|
|
|
$
|
(218
|
)
|
|
$
|
176
|
|
|
$
|
(2,609
|
)
|
|
$
|
(5,178
|
)
|
|
$
|
(7,829
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS PER SHARE (attributable to common stock)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BASIC EARNINGS PER COMMON SHARE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from continuing operations
|
|
|
|
$
|
1.43
|
|
|
$
|
1.48
|
|
|
$
|
1.28
|
|
|
$
|
(4.44
|
)
|
|
$
|
(0.18
|
)
|
|
|
$
|
(0.28
|
)
|
|
$
|
0.23
|
|
|
$
|
(3.41
|
)
|
|
$
|
(7.21
|
)
|
|
$
|
(10.64
|
)
|
|
Discontinued operations, net
|
|
|
|
|
0.32
|
|
|
|
0.35
|
|
|
|
0.27
|
|
|
|
0.03
|
|
|
|
0.97
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
(0.01
|
)
|
|
|
0.43
|
|
|
|
0.41
|
|
|
BASIC EARNINGS PER COMMON SHARE
|
|
|
|
$
|
1.75
|
|
|
$
|
1.83
|
|
|
$
|
1.55
|
|
|
$
|
(4.41
|
)
|
|
$
|
0.79
|
|
|
|
$
|
(0.28
|
)
|
|
$
|
0.23
|
|
|
$
|
(3.42
|
)
|
|
$
|
(6.78
|
)
|
|
$
|
(10.23
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DILUTED EARNINGS PER COMMON SHARE
|
|
|
|
$
|
1.75
|
|
|
$
|
1.82
|
|
|
$
|
1.55
|
|
|
$
|
(4.41
|
)
|
|
$
|
0.79
|
|
|
|
$
|
(0.28
|
)
|
|
$
|
0.23
|
|
|
$
|
(3.42
|
)
|
|
$
|
(6.78
|
)
|
|
$
|
(10.23
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIVIDENDS PER COMMON SHARE
|
|
|
|
$
|
0.72
|
|
|
$
|
0.72
|
|
|
$
|
0.72
|
|
|
$
|
0.72
|
|
|
$
|
2.88
|
|
|
|
$
|
0.72
|
|
|
$
|
0.75
|
|
|
$
|
0.75
|
|
|
$
|
0.75
|
|
|
$
|
2.97
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AVERAGE COMMON SHARES OUTSTANDING
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BASIC
|
|
|
|
|
791.3
|
|
|
|
782.6
|
|
|
|
777.4
|
|
|
|
773.1
|
|
|
|
781.1
|
|
|
|
|
769.6
|
|
|
|
766.4
|
|
|
|
763.3
|
|
|
|
763.2
|
|
|
|
765.6
|
|
|
DILUTED
|
|
|
|
|
791.7
|
|
|
|
782.9
|
|
|
|
777.7
|
|
|
|
773.4
|
|
|
|
781.1
|
|
|
|
|
769.6
|
|
|
|
766.6
|
|
|
|
763.3
|
|
|
|
763.2
|
|
|
|
765.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Occidental Petroleum Corporation
|
|
Consolidated Condensed Balance Sheets
|
|
(Amounts in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
2015
|
|
|
|
|
|
MAR
|
|
JUN
|
|
SEP
|
|
DEC
|
|
|
MAR
|
|
JUN
|
|
SEP
|
|
DEC
|
|
CURRENT ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
|
$
|
2,332
|
|
|
$
|
2,391
|
|
|
$
|
2,897
|
|
|
$
|
3,789
|
|
|
|
$
|
2,153
|
|
|
$
|
2,756
|
|
|
$
|
2,547
|
|
|
$
|
3,201
|
|
|
Restricted cash
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
4,019
|
|
|
|
|
3,265
|
|
|
|
2,382
|
|
|
|
1,765
|
|
|
|
1,193
|
|
|
Trade receivables, net
|
|
|
|
|
5,233
|
|
|
|
5,826
|
|
|
|
4,960
|
|
|
|
4,206
|
|
|
|
|
3,068
|
|
|
|
3,973
|
|
|
|
3,507
|
|
|
|
2,970
|
|
|
Inventories
|
|
|
|
|
1,308
|
|
|
|
1,323
|
|
|
|
1,359
|
|
|
|
1,052
|
|
|
|
|
1,133
|
|
|
|
1,120
|
|
|
|
1,122
|
|
|
|
986
|
|
|
Assets held for sale
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
709
|
|
|
|
141
|
|
|
Other current assets
|
|
|
|
|
2,026
|
|
|
|
1,246
|
|
|
|
1,291
|
|
|
|
807
|
|
|
|
|
815
|
|
|
|
777
|
|
|
|
890
|
|
|
|
1,182
|
|
|
Total current assets
|
|
|
|
|
10,899
|
|
|
|
10,786
|
|
|
|
10,507
|
|
|
|
13,873
|
|
|
|
|
10,434
|
|
|
|
11,008
|
|
|
|
10,540
|
|
|
|
9,673
|
|
|
INVESTMENTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in unconsolidated entities
|
|
|
|
|
1,511
|
|
|
|
1,547
|
|
|
|
1,544
|
|
|
|
1,171
|
|
|
|
|
1,221
|
|
|
|
1,330
|
|
|
|
1,428
|
|
|
|
1,267
|
|
|
Available for sale investment
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
394
|
|
|
|
|
544
|
|
|
|
432
|
|
|
|
186
|
|
|
|
167
|
|
|
Total investments
|
|
|
|
|
1,511
|
|
|
|
1,547
|
|
|
|
1,544
|
|
|
|
1,565
|
|
|
|
|
1,765
|
|
|
|
1,762
|
|
|
|
1,614
|
|
|
|
1,434
|
|
|
PROPERTY, PLANT AND EQUIPMENT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment
|
|
|
|
|
89,790
|
|
|
|
92,135
|
|
|
|
94,771
|
|
|
|
74,515
|
|
|
|
|
75,979
|
|
|
|
77,375
|
|
|
|
73,447
|
|
|
|
71,058
|
|
|
Accumulated depreciation, depletion and amortization
|
|
|
|
|
(33,746
|
)
|
|
|
(35,001
|
)
|
|
|
(36,306
|
)
|
|
|
(34,785
|
)
|
|
|
|
(35,870
|
)
|
|
|
(36,897
|
)
|
|
|
(36,612
|
)
|
|
|
(39,419
|
)
|
|
|
|
|
|
|
56,044
|
|
|
|
57,134
|
|
|
|
58,465
|
|
|
|
39,730
|
|
|
|
|
40,109
|
|
|
|
40,478
|
|
|
|
36,835
|
|
|
|
31,639
|
|
|
LONG-TERM RECEIVABLES AND OTHER ASSETS, NET
|
|
|
|
|
821
|
|
|
|
826
|
|
|
|
994
|
|
|
|
1,091
|
|
|
|
|
1,081
|
|
|
|
1,121
|
|
|
|
1,100
|
|
|
|
962
|
|
|
TOTAL ASSETS
|
|
|
|
$
|
69,275
|
|
|
$
|
70,293
|
|
|
$
|
71,510
|
|
|
$
|
56,259
|
|
|
|
$
|
53,389
|
|
|
$
|
54,369
|
|
|
$
|
50,089
|
|
|
$
|
43,708
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current maturities of long-term debt
|
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
1,599
|
|
|
$
|
-
|
|
|
|
$
|
700
|
|
|
$
|
1,450
|
|
|
$
|
1,450
|
|
|
$
|
1,450
|
|
|
Accounts payable
|
|
|
|
|
5,423
|
|
|
|
6,097
|
|
|
|
5,511
|
|
|
|
5,229
|
|
|
|
|
3,867
|
|
|
|
4,145
|
|
|
|
3,727
|
|
|
|
3,070
|
|
|
Accrued liabilities
|
|
|
|
|
2,441
|
|
|
|
2,332
|
|
|
|
2,337
|
|
|
|
2,601
|
|
|
|
|
2,152
|
|
|
|
2,230
|
|
|
|
2,202
|
|
|
|
2,213
|
|
|
Domestic and foreign income taxes
|
|
|
|
|
326
|
|
|
|
440
|
|
|
|
74
|
|
|
|
414
|
|
|
|
|
196
|
|
|
|
-
|
|
|
|
25
|
|
|
|
-
|
|
|
Liabilities of assets held for sale
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
29
|
|
|
|
110
|
|
|
Total current liabilities
|
|
|
|
|
8,190
|
|
|
|
8,869
|
|
|
|
9,521
|
|
|
|
8,244
|
|
|
|
|
6,915
|
|
|
|
7,825
|
|
|
|
7,433
|
|
|
|
6,843
|
|
|
LONG-TERM DEBT, NET
|
|
|
|
|
6,877
|
|
|
|
6,835
|
|
|
|
6,837
|
|
|
|
6,838
|
|
|
|
|
6,139
|
|
|
|
6,880
|
|
|
|
6,882
|
|
|
|
6,883
|
|
|
DEFERRED CREDITS AND OTHER LIABILITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred domestic and foreign income taxes
|
|
|
|
|
7,398
|
|
|
|
7,313
|
|
|
|
7,634
|
|
|
|
3,015
|
|
|
|
|
2,947
|
|
|
|
3,153
|
|
|
|
2,579
|
|
|
|
1,593
|
|
|
Other
|
|
|
|
|
3,441
|
|
|
|
3,464
|
|
|
|
3,433
|
|
|
|
3,203
|
|
|
|
|
3,224
|
|
|
|
3,209
|
|
|
|
3,313
|
|
|
|
4,039
|
|
|
|
|
|
|
|
10,839
|
|
|
|
10,777
|
|
|
|
11,067
|
|
|
|
6,218
|
|
|
|
|
6,171
|
|
|
|
6,362
|
|
|
|
5,892
|
|
|
|
5,632
|
|
|
STOCKHOLDERS’ EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock, $.20 per share par value
|
|
|
|
|
178
|
|
|
|
178
|
|
|
|
178
|
|
|
|
178
|
|
|
|
|
178
|
|
|
|
178
|
|
|
|
178
|
|
|
|
178
|
|
|
Treasury stock
|
|
|
|
|
(7,079
|
)
|
|
|
(7,681
|
)
|
|
|
(8,146
|
)
|
|
|
(8,528
|
)
|
|
|
|
(8,734
|
)
|
|
|
(9,107
|
)
|
|
|
(9,113
|
)
|
|
|
(9,121
|
)
|
|
Additional paid-in capital
|
|
|
|
|
7,543
|
|
|
|
7,564
|
|
|
|
7,570
|
|
|
|
7,599
|
|
|
|
|
7,632
|
|
|
|
7,651
|
|
|
|
7,664
|
|
|
|
7,640
|
|
|
Retained earnings
|
|
|
|
|
42,652
|
|
|
|
43,519
|
|
|
|
44,166
|
|
|
|
36,067
|
|
|
|
|
35,294
|
|
|
|
34,896
|
|
|
|
31,712
|
|
|
|
25,960
|
|
|
Accumulated other comprehensive loss
|
|
|
|
|
(296
|
)
|
|
|
(291
|
)
|
|
|
(289
|
)
|
|
|
(357
|
)
|
|
|
|
(206
|
)
|
|
|
(316
|
)
|
|
|
(559
|
)
|
|
|
(307
|
)
|
|
Non-controlling interest
|
|
|
|
|
371
|
|
|
|
523
|
|
|
|
606
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
Total equity
|
|
|
|
|
43,369
|
|
|
|
43,812
|
|
|
|
44,085
|
|
|
|
34,959
|
|
|
|
|
34,164
|
|
|
|
33,302
|
|
|
|
29,882
|
|
|
|
24,350
|
|
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
|
|
$
|
69,275
|
|
|
$
|
70,293
|
|
|
$
|
71,510
|
|
|
$
|
56,259
|
|
|
|
$
|
53,389
|
|
|
$
|
54,369
|
|
|
$
|
50,089
|
|
|
$
|
43,708
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Occidental Petroleum Corporation
|
|
Condensed Statements of Cash Flows and Details of Depreciation,
Depletion and Amortization and Capital Expenditures
|
|
(Amounts in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
2015
|
|
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
OPERATING CASH FLOW
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
|
$ 1,392
|
|
$ 1,434
|
|
$ 1,211
|
|
$ (3,407)
|
|
$ 630
|
|
|
$ (218)
|
|
$ 176
|
|
$ (2,609)
|
|
$ (5,178)
|
|
$ (7,829)
|
|
Depreciation, depletion and amortization (see detail below)
|
|
|
|
977
|
|
1,024
|
|
1,056
|
|
1,204
|
|
4,261
|
|
|
1,029
|
|
1,116
|
|
1,123
|
|
1,276
|
|
4,544
|
|
Deferred income tax provision
|
|
|
|
125
|
|
(182)
|
|
277
|
|
(1,398)
|
|
(1,178)
|
|
|
(63)
|
|
202
|
|
(556)
|
|
(955)
|
|
(1,372)
|
|
Asset impairments and other non-cash charges
|
|
|
|
(200)
|
|
(206)
|
|
(203)
|
|
4,975
|
|
4,366
|
|
|
373
|
|
23
|
|
3,244
|
|
5,801
|
|
9,441
|
|
Operating cash flow before working capital
|
|
|
|
2,294
|
|
2,070
|
|
2,341
|
|
1,374
|
|
8,079
|
|
|
1,121
|
|
1,517
|
|
1,202
|
|
944
|
|
4,784
|
|
Working capital changes
|
|
|
|
(252)
|
|
204
|
|
(267)
|
|
1,107
|
|
792
|
|
|
(555)
|
|
(399)
|
|
16
|
|
58
|
|
(880)
|
|
Other, net (a)
|
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
-
|
|
(307)
|
|
(192)
|
|
(151)
|
|
(650)
|
|
Operating cash flow from continuing operations
|
|
|
|
2,042
|
|
2,274
|
|
2,074
|
|
2,481
|
|
8,871
|
|
|
566
|
|
811
|
|
1,026
|
|
851
|
|
3,254
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTING CASH FLOW
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures (see detail below)
|
|
|
|
(1,732)
|
|
(2,001)
|
|
(2,003)
|
|
(2,984)
|
|
(8,720)
|
|
|
(1,735)
|
|
(1,488)
|
|
(1,219)
|
|
(1,170)
|
|
(5,612)
|
|
Payment for purchases of assets and businesses
|
|
|
|
(4)
|
|
(303)
|
|
(45)
|
|
(1,335)
|
|
(1,687)
|
|
|
(6)
|
|
(37)
|
|
(9)
|
|
(57)
|
|
(109)
|
|
Sales of assets and equity investments, net
|
|
|
|
-
|
|
1,371
|
|
16
|
|
2,790
|
|
4,177
|
|
|
20
|
|
38
|
|
93
|
|
668
|
|
819
|
|
Changes in capital accrual
|
|
|
|
-
|
|
-
|
|
-
|
|
542
|
|
542
|
|
|
(458)
|
|
(127)
|
|
(67)
|
|
60
|
|
(592)
|
|
Other investing activities
|
|
|
|
(35)
|
|
(70)
|
|
(17)
|
|
(63)
|
|
(185)
|
|
|
(27)
|
|
(69)
|
|
(27)
|
|
194
|
|
71
|
|
Investing cash flow from continuing operations
|
|
|
|
(1,771)
|
|
(1,003)
|
|
(2,049)
|
|
(1,050)
|
|
(5,873)
|
|
|
(2,206)
|
|
(1,683)
|
|
(1,229)
|
|
(305)
|
|
(5,423)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCING CASH FLOW
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash dividends paid
|
|
|
|
(514)
|
|
(570)
|
|
(565)
|
|
(561)
|
|
(2,210)
|
|
|
(557)
|
|
(556)
|
|
(577)
|
|
(574)
|
|
(2,264)
|
|
Purchases of treasury stock
|
|
|
|
(946)
|
|
(630)
|
|
(507)
|
|
(417)
|
|
(2,500)
|
|
|
(207)
|
|
(329)
|
|
(50)
|
|
(8)
|
|
(594)
|
|
Special cash distribution from California Resources
|
|
|
|
-
|
|
-
|
|
-
|
|
6,100
|
|
6,100
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
Proceeds from short-term borrowings
|
|
|
|
-
|
|
-
|
|
1,599
|
|
(1,599)
|
|
-
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
Proceeds from long-term debt
|
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
-
|
|
1,478
|
|
-
|
|
1
|
|
1,479
|
|
Other financing activities
|
|
|
|
(48)
|
|
(42)
|
|
9
|
|
13
|
|
(68)
|
|
|
19
|
|
5
|
|
10
|
|
3
|
|
37
|
|
Financing cash flow from continuing operations
|
|
|
|
(1,508)
|
|
(1,242)
|
|
536
|
|
3,536
|
|
1,322
|
|
|
(745)
|
|
598
|
|
(617)
|
|
(578)
|
|
(1,342)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash Flow From Discontinued Operations
|
|
|
|
176
|
|
30
|
|
(55)
|
|
(56)
|
|
95
|
|
|
(5)
|
|
(6)
|
|
(6)
|
|
114
|
|
97
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (decrease) in cash
|
|
|
|
(1,061)
|
|
59
|
|
506
|
|
4,911
|
|
4,415
|
|
|
(2,390)
|
|
(280)
|
|
(826)
|
|
82
|
|
(3,414)
|
|
Cash, cash equivalents and restricted cash (b) - beg of period
|
|
|
|
3,393
|
|
2,332
|
|
2,391
|
|
2,897
|
|
3,393
|
|
|
7,808
|
|
5,418
|
|
5,138
|
|
4,312
|
|
7,808
|
|
Cash, cash equivalents and restricted cash (b) - end of period
|
|
|
|
$ 2,332
|
|
$ 2,391
|
|
$ 2,897
|
|
$ 7,808
|
|
$ 7,808
|
|
|
$ 5,418
|
|
$ 5,138
|
|
$ 4,312
|
|
$ 4,394
|
|
$ 4,394
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, Depletion and Amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
United States
|
|
|
|
$ 503
|
|
$ 519
|
|
$ 537
|
|
$ 555
|
|
$ 2,114
|
|
|
$ 502
|
|
$ 541
|
|
$ 556
|
|
$ 510
|
|
$ 2,109
|
|
Latin America
|
|
|
|
42
|
|
35
|
|
40
|
|
44
|
|
161
|
|
|
48
|
|
49
|
|
48
|
|
51
|
|
196
|
|
Middle East/North Africa
|
|
|
|
297
|
|
331
|
|
340
|
|
458
|
|
1,426
|
|
|
329
|
|
370
|
|
345
|
|
537
|
|
1,581
|
|
Chemical
|
|
|
|
89
|
|
93
|
|
91
|
|
94
|
|
367
|
|
|
92
|
|
92
|
|
94
|
|
93
|
|
371
|
|
Midstream and marketing
|
|
|
|
39
|
|
38
|
|
38
|
|
45
|
|
160
|
|
|
48
|
|
55
|
|
71
|
|
75
|
|
249
|
|
Corporate
|
|
|
|
7
|
|
8
|
|
10
|
|
8
|
|
33
|
|
|
10
|
|
9
|
|
9
|
|
10
|
|
38
|
|
|
|
|
|
$ 977
|
|
$ 1,024
|
|
$ 1,056
|
|
$ 1,204
|
|
$ 4,261
|
|
|
$ 1,029
|
|
$ 1,116
|
|
$ 1,123
|
|
$ 1,276
|
|
$ 4,544
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital Expenditures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Permian Resources
|
|
|
|
$ (328)
|
|
$ (401)
|
|
$ (472)
|
|
$ (715)
|
|
$ (1,916)
|
|
|
$ (729)
|
|
$ (555)
|
|
$ (521)
|
|
$ (426)
|
|
$ (2,231)
|
|
Permian EOR
|
|
|
|
(164)
|
|
(193)
|
|
(210)
|
|
(155)
|
|
(722)
|
|
|
(115)
|
|
(119)
|
|
(102)
|
|
(88)
|
|
(424)
|
|
Other domestic
|
|
|
|
(231)
|
|
(219)
|
|
(205)
|
|
(257)
|
|
(912)
|
|
|
(86)
|
|
(21)
|
|
-
|
|
(2)
|
|
(109)
|
|
Latin America
|
|
|
|
(67)
|
|
(74)
|
|
(69)
|
|
(100)
|
|
(310)
|
|
|
(47)
|
|
(45)
|
|
(24)
|
|
(34)
|
|
(150)
|
|
Middle East/North Africa
|
|
|
|
(454)
|
|
(554)
|
|
(527)
|
|
(614)
|
|
(2,149)
|
|
|
(476)
|
|
(449)
|
|
(242)
|
|
(245)
|
|
(1,412)
|
|
Exploration Drilling
|
|
|
|
(88)
|
|
(125)
|
|
(160)
|
|
(150)
|
|
(523)
|
|
|
(58)
|
|
(30)
|
|
(15)
|
|
(13)
|
|
(116)
|
|
Chemical
|
|
|
|
(41)
|
|
(71)
|
|
(61)
|
|
(141)
|
|
(314)
|
|
|
(40)
|
|
(57)
|
|
(58)
|
|
(99)
|
|
(254)
|
|
Midstream and marketing
|
|
|
|
(399)
|
|
(462)
|
|
(311)
|
|
(811)
|
|
(1,983)
|
|
|
(115)
|
|
(105)
|
|
(155)
|
|
(160)
|
|
(535)
|
|
Corporate
|
|
|
|
(23)
|
|
(30)
|
|
(21)
|
|
(27)
|
|
(101)
|
|
|
(9)
|
|
(9)
|
|
(10)
|
|
(13)
|
|
(41)
|
|
GAAP external reporting
|
|
|
|
(1,795)
|
|
(2,129)
|
|
(2,036)
|
|
(2,970)
|
|
(8,930)
|
|
|
(1,675)
|
|
(1,390)
|
|
(1,127)
|
|
(1,080)
|
|
(5,272)
|
|
Non-controlling interest contributions (c)
|
|
|
|
123
|
|
149
|
|
74
|
|
29
|
|
375
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
Cracker JV investment contributions
|
|
|
|
(60)
|
|
(21)
|
|
(41)
|
|
(43)
|
|
(165)
|
|
|
(60)
|
|
(98)
|
|
(92)
|
|
(90)
|
|
(340)
|
|
|
|
|
|
$ (1,732)
|
|
$ (2,001)
|
|
$ (2,003)
|
|
$ (2,984)
|
|
$ (8,720)
|
|
|
$ (1,735)
|
|
$ (1,488)
|
|
$ (1,219)
|
|
$ (1,170)
|
|
$ (5,612)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of non-GAAP disclosures to GAAP
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
Condensed Statements of Cash Flows
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CASH FLOW FROM OPERATING ACTIVITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
|
|
$ 2,042
|
|
$ 2,274
|
|
$ 2,074
|
|
$ 2,481
|
|
$ 8,871
|
|
|
$ 566
|
|
$ 811
|
|
$ 1,026
|
|
$ 851
|
|
$ 3,254
|
|
Discontinued operations
|
|
|
|
655
|
|
593
|
|
564
|
|
385
|
|
2,197
|
|
|
(5)
|
|
(6)
|
|
(6)
|
|
114
|
|
97
|
|
CASH FLOW FROM INVESTING ACTIVITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
|
|
(1,894)
|
|
(1,152)
|
|
(2,123)
|
|
(1,075)
|
|
(6,244)
|
|
|
(2,206)
|
|
(1,683)
|
|
(1,229)
|
|
(305)
|
|
(5,423)
|
|
Discontinued operations
|
|
|
|
(479)
|
|
(563)
|
|
(619)
|
|
(565)
|
|
(2,226)
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
CASH FLOW FROM FINANCING ACTIVITIES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
|
|
(1,385)
|
|
(1,093)
|
|
610
|
|
(458)
|
|
(2,326)
|
|
|
9
|
|
1,481
|
|
-
|
|
(6)
|
|
1,484
|
|
Discontinued operations
|
|
|
|
-
|
|
-
|
|
-
|
|
124
|
|
124
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
Increase (decrease) in cash and cash equivalents
|
|
|
|
(1,061)
|
|
59
|
|
506
|
|
892
|
|
396
|
|
|
(1,636)
|
|
603
|
|
(209)
|
|
654
|
|
(588)
|
|
Cash and cash equivalents - beginning of period
|
|
|
|
3,393
|
|
2,332
|
|
2,391
|
|
2,897
|
|
3,393
|
|
|
3,789
|
|
2,153
|
|
2,756
|
|
2,547
|
|
3,789
|
|
Cash and cash equivalents - end of period
|
|
|
|
$ 2,332
|
|
$ 2,391
|
|
$ 2,897
|
|
$ 3,789
|
|
$ 3,789
|
|
|
$ 2,153
|
|
$ 2,756
|
|
$ 2,547
|
|
$ 3,201
|
|
$ 3,201
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Other, net for 2015 represents the current cash benefit on the
2015 NOL carryback in excess of 2014 Federal tax due. 2015
includes $293 million receivable expected to be collected in 2016.
|
|
(b) Restricted cash must be used solely to pay dividends,
repurchase common stock, repay debt, or a combination of the
foregoing.
|
|
(c) Disclosed as financing cash flows in GAAP cash flow statements.
|
|
|
|
|
|
Schedule 7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Occidental Petroleum Corporation
|
|
Oil & Gas Net Production Volumes Per Day by Geographical Locations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
2015
|
|
NET MBOE VOLUMES PER DAY:
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
United States
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Permian Resources
|
|
|
|
67
|
|
72
|
|
77
|
|
84
|
|
75
|
|
|
98
|
|
109
|
|
116
|
|
118
|
|
110
|
|
Permian EOR
|
|
|
|
145
|
|
144
|
|
148
|
|
150
|
|
147
|
|
|
145
|
|
145
|
|
144
|
|
143
|
|
145
|
|
Midcontinent & Other
|
|
|
|
71
|
|
70
|
|
69
|
|
67
|
|
70
|
|
|
64
|
|
60
|
|
55
|
|
51
|
|
57
|
|
Total
|
|
|
|
283
|
|
286
|
|
294
|
|
301
|
|
292
|
|
|
307
|
|
314
|
|
315
|
|
312
|
|
312
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Latin America
|
|
|
|
31
|
|
21
|
|
31
|
|
34
|
|
29
|
|
|
40
|
|
42
|
|
27
|
|
39
|
|
37
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Middle East / North Africa
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Al Hosn
|
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
9
|
|
18
|
|
50
|
|
60
|
|
35
|
|
Dolphin
|
|
|
|
34
|
|
38
|
|
38
|
|
40
|
|
38
|
|
|
39
|
|
42
|
|
41
|
|
43
|
|
41
|
|
Oman
|
|
|
|
73
|
|
76
|
|
75
|
|
80
|
|
76
|
|
|
89
|
|
87
|
|
93
|
|
88
|
|
89
|
|
Qatar
|
|
|
|
68
|
|
69
|
|
69
|
|
70
|
|
69
|
|
|
64
|
|
65
|
|
67
|
|
69
|
|
66
|
|
Other
|
|
|
|
65
|
|
68
|
|
67
|
|
71
|
|
67
|
|
|
78
|
|
71
|
|
79
|
|
60
|
|
72
|
|
Total
|
|
|
|
240
|
|
251
|
|
249
|
|
261
|
|
250
|
|
|
279
|
|
283
|
|
330
|
|
320
|
|
303
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ongoing operations
|
|
|
|
554
|
|
558
|
|
574
|
|
596
|
|
571
|
|
|
626
|
|
639
|
|
672
|
|
671
|
|
652
|
|
Sold assets - Hugoton
|
|
|
|
18
|
|
6
|
|
-
|
|
-
|
|
6
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
Sold assets - Williston
|
|
|
|
19
|
|
22
|
|
21
|
|
20
|
|
20
|
|
|
19
|
|
19
|
|
17
|
|
9
|
|
16
|
|
Barrels of Oil Equivalent (MBOE)
|
|
|
|
591
|
|
586
|
|
595
|
|
616
|
|
597
|
|
|
645
|
|
658
|
|
689
|
|
680
|
|
668
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET PRODUCTION VOLUMES PER DAY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BY COMMODITY:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil (MBBL)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Permian Resources
|
|
|
|
37
|
|
40
|
|
43
|
|
51
|
|
43
|
|
|
62
|
|
71
|
|
74
|
|
76
|
|
71
|
|
Permian EOR
|
|
|
|
110
|
|
110
|
|
111
|
|
112
|
|
111
|
|
|
111
|
|
110
|
|
108
|
|
109
|
|
110
|
|
Midcontinent & Other
|
|
|
|
8
|
|
9
|
|
8
|
|
8
|
|
8
|
|
|
7
|
|
7
|
|
6
|
|
5
|
|
6
|
|
Total
|
|
|
|
155
|
|
159
|
|
162
|
|
171
|
|
162
|
|
|
180
|
|
188
|
|
188
|
|
190
|
|
187
|
|
NGLs (MBBL)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Permian Resources
|
|
|
|
11
|
|
12
|
|
13
|
|
13
|
|
12
|
|
|
14
|
|
15
|
|
18
|
|
18
|
|
16
|
|
Permian EOR
|
|
|
|
28
|
|
29
|
|
30
|
|
31
|
|
30
|
|
|
28
|
|
29
|
|
30
|
|
28
|
|
29
|
|
Midcontinent & Other
|
|
|
|
13
|
|
11
|
|
12
|
|
11
|
|
12
|
|
|
11
|
|
10
|
|
10
|
|
10
|
|
10
|
|
Total
|
|
|
|
52
|
|
52
|
|
55
|
|
55
|
|
54
|
|
|
53
|
|
54
|
|
58
|
|
56
|
|
55
|
|
Natural Gas (MMCF)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Permian Resources
|
|
|
|
115
|
|
120
|
|
121
|
|
122
|
|
120
|
|
|
130
|
|
136
|
|
143
|
|
143
|
|
137
|
|
Permian EOR
|
|
|
|
38
|
|
34
|
|
42
|
|
39
|
|
38
|
|
|
37
|
|
38
|
|
37
|
|
35
|
|
37
|
|
Midcontinent & Other
|
|
|
|
300
|
|
300
|
|
293
|
|
290
|
|
296
|
|
|
275
|
|
258
|
|
235
|
|
217
|
|
246
|
|
Total
|
|
|
|
453
|
|
454
|
|
456
|
|
451
|
|
454
|
|
|
442
|
|
432
|
|
415
|
|
395
|
|
420
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Latin America
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil (MBBL)
|
|
|
|
29
|
|
19
|
|
29
|
|
32
|
|
27
|
|
|
38
|
|
40
|
|
25
|
|
38
|
|
35
|
|
Natural Gas (MMCF)
|
|
|
|
12
|
|
12
|
|
12
|
|
10
|
|
11
|
|
|
12
|
|
10
|
|
9
|
|
8
|
|
10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Middle East / North Africa
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil (MBBL)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Al Hosn
|
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
2
|
|
4
|
|
9
|
|
11
|
|
7
|
|
Dolphin
|
|
|
|
6
|
|
7
|
|
7
|
|
7
|
|
7
|
|
|
7
|
|
7
|
|
7
|
|
8
|
|
7
|
|
Oman
|
|
|
|
66
|
|
70
|
|
67
|
|
72
|
|
69
|
|
|
80
|
|
81
|
|
85
|
|
81
|
|
82
|
|
Qatar
|
|
|
|
68
|
|
69
|
|
69
|
|
70
|
|
69
|
|
|
64
|
|
65
|
|
67
|
|
69
|
|
66
|
|
Other
|
|
|
|
27
|
|
28
|
|
28
|
|
31
|
|
28
|
|
|
37
|
|
31
|
|
39
|
|
23
|
|
32
|
|
Total
|
|
|
|
167
|
|
174
|
|
171
|
|
180
|
|
173
|
|
|
190
|
|
188
|
|
207
|
|
192
|
|
194
|
|
NGLs (MBBL)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Al Hosn
|
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
2
|
|
4
|
|
14
|
|
18
|
|
10
|
|
Dolphin
|
|
|
|
6
|
|
7
|
|
7
|
|
8
|
|
7
|
|
|
7
|
|
8
|
|
8
|
|
8
|
|
8
|
|
Total
|
|
|
|
6
|
|
7
|
|
7
|
|
8
|
|
7
|
|
|
9
|
|
12
|
|
22
|
|
26
|
|
18
|
|
Natural Gas (MMCF)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Al Hosn
|
|
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
30
|
|
60
|
|
162
|
|
185
|
|
109
|
|
Dolphin
|
|
|
|
131
|
|
144
|
|
146
|
|
152
|
|
143
|
|
|
150
|
|
160
|
|
158
|
|
162
|
|
158
|
|
Oman
|
|
|
|
40
|
|
40
|
|
45
|
|
49
|
|
43
|
|
|
56
|
|
38
|
|
45
|
|
41
|
|
44
|
|
Other
|
|
|
|
231
|
|
236
|
|
235
|
|
240
|
|
236
|
|
|
245
|
|
240
|
|
242
|
|
222
|
|
237
|
|
Total
|
|
|
|
402
|
|
420
|
|
426
|
|
441
|
|
422
|
|
|
481
|
|
498
|
|
607
|
|
610
|
|
548
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Occidental Petroleum Corporation
|
|
Oil & Gas Sales Volumes Per Day and Realized Prices by
Geographical Locations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
2015
|
|
NET SALES MBOE VOLUMES PER DAY:
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States
|
|
|
|
|
283
|
|
|
|
286
|
|
|
|
294
|
|
|
|
301
|
|
|
|
292
|
|
|
|
307
|
|
|
|
314
|
|
|
|
315
|
|
|
|
312
|
|
|
|
312
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Latin America
|
|
|
|
|
34
|
|
|
|
26
|
|
|
|
31
|
|
|
|
34
|
|
|
|
31
|
|
|
|
38
|
|
|
|
37
|
|
|
|
36
|
|
|
|
37
|
|
|
|
37
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Middle East / North Africa
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Al Hosn
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
9
|
|
|
|
18
|
|
|
|
50
|
|
|
|
60
|
|
|
|
35
|
|
|
Dolphin
|
|
|
|
|
34
|
|
|
|
38
|
|
|
|
38
|
|
|
|
39
|
|
|
|
38
|
|
|
|
40
|
|
|
|
42
|
|
|
|
41
|
|
|
|
43
|
|
|
|
42
|
|
|
Oman
|
|
|
|
|
72
|
|
|
|
77
|
|
|
|
76
|
|
|
|
78
|
|
|
|
76
|
|
|
|
89
|
|
|
|
87
|
|
|
|
92
|
|
|
|
88
|
|
|
|
89
|
|
|
Qatar
|
|
|
|
|
71
|
|
|
|
66
|
|
|
|
71
|
|
|
|
68
|
|
|
|
69
|
|
|
|
67
|
|
|
|
65
|
|
|
|
62
|
|
|
|
74
|
|
|
|
67
|
|
|
Other
|
|
|
|
|
49
|
|
|
|
64
|
|
|
|
59
|
|
|
|
95
|
|
|
|
66
|
|
|
|
68
|
|
|
|
75
|
|
|
|
57
|
|
|
|
107
|
|
|
|
76
|
|
|
Total
|
|
|
|
|
226
|
|
|
|
245
|
|
|
|
244
|
|
|
|
280
|
|
|
|
249
|
|
|
|
273
|
|
|
|
287
|
|
|
|
302
|
|
|
|
372
|
|
|
|
309
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ongoing operations
|
|
|
|
|
543
|
|
|
|
557
|
|
|
|
569
|
|
|
|
615
|
|
|
|
572
|
|
|
|
618
|
|
|
|
638
|
|
|
|
653
|
|
|
|
721
|
|
|
|
658
|
|
|
Sold assets - Hugoton
|
|
|
|
|
18
|
|
|
|
6
|
|
|
|
-
|
|
|
|
-
|
|
|
|
6
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
Sold assets - Williston
|
|
|
|
|
19
|
|
|
|
22
|
|
|
|
21
|
|
|
|
20
|
|
|
|
20
|
|
|
|
19
|
|
|
|
19
|
|
|
|
17
|
|
|
|
9
|
|
|
|
16
|
|
|
Barrels of Oil Equivalent (MBOE)
|
|
|
|
|
580
|
|
|
|
585
|
|
|
|
590
|
|
|
|
635
|
|
|
|
598
|
|
|
|
637
|
|
|
|
657
|
|
|
|
670
|
|
|
|
730
|
|
|
|
674
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REALIZED PRICES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil ($/BBL)
|
|
|
|
$
|
92.56
|
|
|
$
|
93.70
|
|
|
$
|
87.43
|
|
|
$
|
66.46
|
|
|
$
|
84.73
|
|
|
$
|
43.66
|
|
|
$
|
52.64
|
|
|
$
|
44.48
|
|
|
$
|
39.19
|
|
|
$
|
45.04
|
|
|
NGLs ($/BBL)
|
|
|
|
$
|
42.06
|
|
|
$
|
42.17
|
|
|
$
|
39.32
|
|
|
$
|
27.67
|
|
|
$
|
37.79
|
|
|
$
|
17.32
|
|
|
$
|
17.32
|
|
|
$
|
13.72
|
|
|
$
|
13.27
|
|
|
$
|
15.35
|
|
|
Natural Gas ($/MCF)
|
|
|
|
$
|
4.39
|
|
|
$
|
4.15
|
|
|
$
|
3.74
|
|
|
$
|
3.56
|
|
|
$
|
3.97
|
|
|
$
|
2.49
|
|
|
$
|
2.09
|
|
|
$
|
2.24
|
|
|
$
|
1.75
|
|
|
$
|
2.15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Latin America
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil (MBBL)
|
|
|
|
$
|
98.53
|
|
|
$
|
101.30
|
|
|
$
|
92.16
|
|
|
$
|
63.93
|
|
|
$
|
88.00
|
|
|
$
|
47.70
|
|
|
$
|
55.19
|
|
|
$
|
42.46
|
|
|
$
|
32.75
|
|
|
$
|
44.49
|
|
|
Natural Gas (MMCF)
|
|
|
|
$
|
10.81
|
|
|
$
|
10.99
|
|
|
$
|
9.88
|
|
|
$
|
3.19
|
|
|
$
|
8.94
|
|
|
$
|
4.53
|
|
|
$
|
5.49
|
|
|
$
|
5.67
|
|
|
$
|
5.28
|
|
|
$
|
5.20
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Middle East / North Africa
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil ($/BBL)
|
|
|
|
$
|
104.65
|
|
|
$
|
105.15
|
|
|
$
|
102.19
|
|
|
$
|
77.80
|
|
|
$
|
96.34
|
|
|
$
|
53.98
|
|
|
$
|
56.48
|
|
|
$
|
52.53
|
|
|
$
|
39.14
|
|
|
$
|
49.65
|
|
|
NGLs ($/BBL)
|
|
|
|
$
|
38.43
|
|
|
$
|
32.00
|
|
|
$
|
29.70
|
|
|
$
|
25.37
|
|
|
$
|
30.98
|
|
|
$
|
21.57
|
|
|
$
|
21.38
|
|
|
$
|
17.12
|
|
|
$
|
15.62
|
|
|
$
|
17.88
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Worldwide
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil ($/BBL)
|
|
|
|
$
|
98.14
|
|
|
$
|
99.30
|
|
|
$
|
94.26
|
|
|
$
|
71.58
|
|
|
$
|
90.13
|
|
|
$
|
48.50
|
|
|
$
|
54.55
|
|
|
$
|
47.78
|
|
|
$
|
38.68
|
|
|
$
|
47.10
|
|
|
NGLs ($/BBL)
|
|
|
|
$
|
41.70
|
|
|
$
|
40.98
|
|
|
$
|
38.20
|
|
|
$
|
27.39
|
|
|
$
|
37.01
|
|
|
$
|
17.96
|
|
|
$
|
18.06
|
|
|
$
|
14.68
|
|
|
$
|
14.02
|
|
|
$
|
15.96
|
|
|
Natural Gas ($/MCF)
|
|
|
|
$
|
2.90
|
|
|
$
|
2.68
|
|
|
$
|
2.42
|
|
|
$
|
2.21
|
|
|
$
|
2.55
|
|
|
$
|
1.66
|
|
|
$
|
1.48
|
|
|
$
|
1.51
|
|
|
$
|
1.32
|
|
|
$
|
1.49
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Index Prices
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WTI Oil ($/BBL)
|
|
|
|
$
|
98.68
|
|
|
$
|
102.99
|
|
|
$
|
97.17
|
|
|
$
|
73.15
|
|
|
$
|
93.00
|
|
|
$
|
48.63
|
|
|
$
|
57.94
|
|
|
$
|
46.43
|
|
|
$
|
42.18
|
|
|
$
|
48.80
|
|
|
Brent Oil ($/BBL)
|
|
|
|
$
|
107.90
|
|
|
$
|
109.77
|
|
|
$
|
103.39
|
|
|
$
|
76.98
|
|
|
$
|
99.51
|
|
|
$
|
55.17
|
|
|
$
|
63.50
|
|
|
$
|
51.17
|
|
|
$
|
44.71
|
|
|
$
|
53.64
|
|
|
NYMEX Natural Gas ($/MCF)
|
|
|
|
$
|
4.66
|
|
|
$
|
4.55
|
|
|
$
|
4.17
|
|
|
$
|
3.99
|
|
|
$
|
4.34
|
|
|
$
|
3.07
|
|
|
$
|
2.73
|
|
|
$
|
2.78
|
|
|
$
|
2.44
|
|
|
$
|
2.75
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Percentage of Index Prices
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Worldwide oil as a percentage of WTI
|
|
|
|
|
99
|
%
|
|
|
96
|
%
|
|
|
97
|
%
|
|
|
98
|
%
|
|
|
97
|
%
|
|
|
100
|
%
|
|
|
94
|
%
|
|
|
103
|
%
|
|
|
92
|
%
|
|
|
97
|
%
|
|
Worldwide oil as a percentage of Brent
|
|
|
|
|
91
|
%
|
|
|
90
|
%
|
|
|
91
|
%
|
|
|
93
|
%
|
|
|
91
|
%
|
|
|
88
|
%
|
|
|
86
|
%
|
|
|
93
|
%
|
|
|
87
|
%
|
|
|
88
|
%
|
|
Worldwide NGL as a percentage of WTI
|
|
|
|
|
42
|
%
|
|
|
40
|
%
|
|
|
39
|
%
|
|
|
37
|
%
|
|
|
40
|
%
|
|
|
37
|
%
|
|
|
31
|
%
|
|
|
32
|
%
|
|
|
33
|
%
|
|
|
33
|
%
|
|
Worldwide NGL as a percentage of Brent
|
|
|
|
|
39
|
%
|
|
|
37
|
%
|
|
|
37
|
%
|
|
|
36
|
%
|
|
|
37
|
%
|
|
|
33
|
%
|
|
|
28
|
%
|
|
|
29
|
%
|
|
|
31
|
%
|
|
|
30
|
%
|
|
Domestic gas as a percentage of NYMEX
|
|
|
|
|
94
|
%
|
|
|
91
|
%
|
|
|
90
|
%
|
|
|
89
|
%
|
|
|
91
|
%
|
|
|
81
|
%
|
|
|
77
|
%
|
|
|
81
|
%
|
|
|
72
|
%
|
|
|
78
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Occidental Petroleum Corporation
|
|
Oil and Gas Costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
2015
|
|
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash operating expenses ($/BOE)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States
|
|
|
|
$ 13.67
|
|
$ 14.63
|
|
$ 14.89
|
|
$ 14.94
|
|
$ 14.54
|
|
|
$ 14.46
|
|
$ 13.04
|
|
$ 13.10
|
|
$ 11.94
|
|
$ 13.13
|
|
Latin America
|
|
|
|
$ 15.28
|
|
$ 21.05
|
|
$ 15.84
|
|
$ 13.90
|
|
$ 16.25
|
|
|
$ 9.95
|
|
$ 11.99
|
|
$ 13.60
|
|
$ 12.39
|
|
$ 11.93
|
|
Middle East/North Africa
|
|
|
|
$ 11.55
|
|
$ 10.87
|
|
$ 11.30
|
|
$ 13.35
|
|
$ 11.83
|
|
|
$ 12.51
|
|
$ 11.03
|
|
$ 8.72
|
|
$ 8.01
|
|
$ 9.87
|
|
Total Oil and Gas
|
|
|
|
$ 12.94
|
|
$ 13.34
|
|
$ 13.45
|
|
$ 14.18
|
|
$ 13.50
|
|
|
$ 13.36
|
|
$ 12.10
|
|
$ 11.15
|
|
$ 9.95
|
|
$ 11.57
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taxes other than on income ($/BOE)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States
|
|
|
|
$ 4.96
|
|
$ 4.76
|
|
$ 4.36
|
|
$ 3.86
|
|
$ 4.48
|
|
|
$ 3.14
|
|
$ 3.30
|
|
$ 2.36
|
|
$ 1.46
|
|
$ 2.57
|
|
Total Oil and Gas
|
|
|
|
$ 2.83
|
|
$ 2.66
|
|
$ 2.42
|
|
$ 1.96
|
|
$ 2.45
|
|
|
$ 1.63
|
|
$ 1.85
|
|
$ 1.20
|
|
$ 0.67
|
|
$ 1.32
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DD&A expense ($/BOE)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States
|
|
|
|
$ 17.46
|
|
$ 18.13
|
|
$ 18.63
|
|
$ 18.81
|
|
$ 18.26
|
|
|
$ 17.12
|
|
$ 17.82
|
|
$ 18.24
|
|
$ 17.32
|
|
$ 17.63
|
|
Latin America
|
|
|
|
$ 13.65
|
|
$ 14.73
|
|
$ 13.73
|
|
$ 14.22
|
|
$ 14.14
|
|
|
$ 14.05
|
|
$ 14.66
|
|
$ 14.61
|
|
$ 14.87
|
|
$ 14.54
|
|
Middle East/North Africa
|
|
|
|
$ 14.59
|
|
$ 14.91
|
|
$ 15.13
|
|
$ 17.73
|
|
$ 15.68
|
|
|
$ 13.41
|
|
$ 14.20
|
|
$ 12.36
|
|
$ 15.68
|
|
$ 14.02
|
|
Total Oil and Gas
|
|
|
|
$ 16.12
|
|
$ 16.64
|
|
$ 16.90
|
|
$ 18.09
|
|
$ 16.97
|
|
|
$ 15.35
|
|
$ 16.06
|
|
$ 15.39
|
|
$ 16.36
|
|
$ 15.81
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
G&A and other operating expenses ($/BOE)
|
|
|
|
$ 3.62
|
|
$ 4.23
|
|
$ 4.12
|
|
$ 3.68
|
|
$ 3.91
|
|
|
$ 3.58
|
|
$ 3.57
|
|
$ 2.88
|
|
$ 2.69
|
|
$ 3.15
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exploration Expense ($ millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States
|
|
|
|
$ 10
|
|
$ 14
|
|
$ 11
|
|
$ 35
|
|
$ 70
|
|
|
$ 5
|
|
$ 6
|
|
$ 3
|
|
$ 5
|
|
$ 19
|
|
Latin America
|
|
|
|
-
|
|
-
|
|
-
|
|
4
|
|
4
|
|
|
-
|
|
-
|
|
-
|
|
2
|
|
2
|
|
Middle East/North Africa
|
|
|
|
14
|
|
25
|
|
17
|
|
20
|
|
76
|
|
|
3
|
|
4
|
|
2
|
|
6
|
|
15
|
|
|
|
|
|
$ 24
|
|
$ 39
|
|
$ 28
|
|
$ 59
|
|
$ 150
|
|
|
$ 8
|
|
$ 10
|
|
$ 5
|
|
$ 13
|
|
$ 36
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Occidental Petroleum Corporation
|
|
Segment Core Income Pre-tax Variance Roll-forwards
|
|
(Amounts in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
|
|
2015
|
|
|
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
|
Qtr 1
|
|
Qtr 2
|
|
Qtr 3
|
|
Qtr 4
|
|
YTD
|
|
Quarter-over-Quarter
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior quarter core income
|
|
|
|
$
|
1,752
|
|
|
$
|
1,719
|
|
|
$
|
1,703
|
|
|
$
|
1,571
|
|
|
|
|
|
$
|
736
|
|
|
$
|
57
|
|
|
$
|
324
|
|
|
$
|
162
|
|
|
|
|
Sales price
|
|
|
|
|
27
|
|
|
|
13
|
|
|
|
(182
|
)
|
|
|
(845
|
)
|
|
|
|
|
|
(934
|
)
|
|
|
217
|
|
|
|
(261
|
)
|
|
|
(347
|
)
|
|
|
|
Sales volume
|
|
|
|
|
(146
|
)
|
|
|
49
|
|
|
|
43
|
|
|
|
173
|
|
|
|
|
|
|
10
|
|
|
|
28
|
|
|
|
(14
|
)
|
|
|
39
|
|
|
|
|
Operating expenses
|
|
|
|
|
66
|
|
|
|
(34
|
)
|
|
|
(19
|
)
|
|
|
(100
|
)
|
|
|
|
|
|
101
|
|
|
|
30
|
|
|
|
45
|
|
|
|
13
|
|
|
|
|
DD&A rate
|
|
|
|
|
(30
|
)
|
|
|
(10
|
)
|
|
|
4
|
|
|
|
(14
|
)
|
|
|
|
|
|
123
|
|
|
|
(5
|
)
|
|
|
5
|
|
|
|
23
|
|
|
|
|
Exploration expense
|
|
|
|
|
1
|
|
|
|
(15
|
)
|
|
|
11
|
|
|
|
(37
|
)
|
|
|
|
|
|
52
|
|
|
|
(3
|
)
|
|
|
5
|
|
|
|
(8
|
)
|
|
|
|
All others
|
|
|
|
|
49
|
|
|
|
(19
|
)
|
|
|
11
|
|
|
|
(12
|
)
|
|
|
|
|
|
(31
|
)
|
|
|
-
|
|
|
|
58
|
|
|
|
12
|
|
|
|
|
Current quarter core income
|
|
|
|
$
|
1,719
|
|
|
$
|
1,703
|
|
|
$
|
1,571
|
|
|
$
|
736
|
|
|
|
|
|
$
|
57
|
|
|
$
|
324
|
|
|
$
|
162
|
|
|
$
|
(106
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemical
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior quarter core income
|
|
|
|
$
|
128
|
|
|
$
|
136
|
|
|
$
|
133
|
|
|
$
|
140
|
|
|
|
|
|
$
|
160
|
|
|
$
|
139
|
|
|
$
|
136
|
|
|
$
|
174
|
|
|
|
|
Sales price
|
|
|
|
|
11
|
|
|
|
24
|
|
|
|
9
|
|
|
|
(30
|
)
|
|
|
|
|
|
(92
|
)
|
|
|
2
|
|
|
|
(42
|
)
|
|
|
(37
|
)
|
|
|
|
Sales volume / mix
|
|
|
|
|
41
|
|
|
|
(2
|
)
|
|
|
(6
|
)
|
|
|
4
|
|
|
|
|
|
|
(26
|
)
|
|
|
16
|
|
|
|
(8
|
)
|
|
|
(22
|
)
|
|
|
|
Operations / manufacturing
|
|
|
|
|
(39
|
)
|
|
|
(17
|
)
|
|
|
(1
|
)
|
|
|
56
|
|
|
|
|
|
|
89
|
|
|
|
(20
|
)
|
|
|
80
|
|
|
|
10
|
|
|
|
|
All others
|
|
|
|
|
(5
|
)
|
|
|
(8
|
)
|
|
|
5
|
|
|
|
(10
|
)
|
|
|
|
|
|
8
|
|
|
|
(1
|
)
|
|
|
8
|
|
|
|
(9
|
)
|
|
|
|
Current quarter core income
|
|
|
|
$
|
136
|
|
|
$
|
133
|
|
|
$
|
140
|
|
|
$
|
160
|
|
|
|
|
|
$
|
139
|
|
|
$
|
136
|
|
|
$
|
174
|
|
|
$
|
116
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Midstream and Marketing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior quarter core income
|
|
|
|
$
|
106
|
|
|
$
|
96
|
|
|
$
|
130
|
|
|
$
|
155
|
|
|
|
|
|
$
|
168
|
|
|
$
|
(5
|
)
|
|
$
|
84
|
|
|
$
|
31
|
|
|
|
|
Marketing
|
|
|
|
|
(26
|
)
|
|
|
31
|
|
|
|
13
|
|
|
|
11
|
|
|
|
|
|
|
(73
|
)
|
|
|
59
|
|
|
|
(91
|
)
|
|
|
(57
|
)
|
|
|
|
Gas plants
|
|
|
|
|
53
|
|
|
|
(6
|
)
|
|
|
-
|
|
|
|
(26
|
)
|
|
|
|
|
|
(14
|
)
|
|
|
1
|
|
|
|
(2
|
)
|
|
|
16
|
|
|
|
|
Pipelines
|
|
|
|
|
(51
|
)
|
|
|
17
|
|
|
|
7
|
|
|
|
27
|
|
|
|
|
|
|
(83
|
)
|
|
|
29
|
|
|
|
23
|
|
|
|
(23
|
)
|
|
|
|
Power generation
|
|
|
|
|
17
|
|
|
|
(3
|
)
|
|
|
3
|
|
|
|
(9
|
)
|
|
|
|
|
|
(3
|
)
|
|
|
-
|
|
|
|
17
|
|
|
|
(12
|
)
|
|
|
|
All others
|
|
|
|
|
(3
|
)
|
|
|
(5
|
)
|
|
|
2
|
|
|
|
10
|
|
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
Current quarter core income
|
|
|
|
$
|
96
|
|
|
$
|
130
|
|
|
$
|
155
|
|
|
$
|
168
|
|
|
|
|
|
$
|
(5
|
)
|
|
$
|
84
|
|
|
$
|
31
|
|
|
$
|
(45
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year-over-Year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oil & Gas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior year core income
|
|
|
|
$
|
1,542
|
|
|
$
|
1,751
|
|
|
$
|
1,973
|
|
|
$
|
1,752
|
|
|
$
|
7,018
|
|
|
|
$
|
1,719
|
|
|
$
|
1,703
|
|
|
$
|
1,571
|
|
|
$
|
736
|
|
|
$
|
5,729
|
|
|
Sales price
|
|
|
|
|
136
|
|
|
|
124
|
|
|
|
(291
|
)
|
|
|
(1,024
|
)
|
|
|
(1,055
|
)
|
|
|
|
(1,923
|
)
|
|
|
(1,714
|
)
|
|
|
(1,768
|
)
|
|
|
(1,320
|
)
|
|
|
(6,725
|
)
|
|
Sales volume
|
|
|
|
|
61
|
|
|
|
(96
|
)
|
|
|
(50
|
)
|
|
|
104
|
|
|
|
19
|
|
|
|
|
210
|
|
|
|
247
|
|
|
|
163
|
|
|
|
216
|
|
|
|
836
|
|
|
Operating expenses
|
|
|
|
|
6
|
|
|
|
(40
|
)
|
|
|
(36
|
)
|
|
|
(86
|
)
|
|
|
(156
|
)
|
|
|
|
(51
|
)
|
|
|
6
|
|
|
|
83
|
|
|
|
116
|
|
|
|
154
|
|
|
DD&A rate
|
|
|
|
|
(34
|
)
|
|
|
(49
|
)
|
|
|
(41
|
)
|
|
|
4
|
|
|
|
(120
|
)
|
|
|
|
102
|
|
|
|
84
|
|
|
|
87
|
|
|
|
84
|
|
|
|
357
|
|
|
Exploration expense
|
|
|
|
|
6
|
|
|
|
19
|
|
|
|
(1
|
)
|
|
|
(35
|
)
|
|
|
(11
|
)
|
|
|
|
19
|
|
|
|
28
|
|
|
|
22
|
|
|
|
47
|
|
|
|
116
|
|
|
All others
|
|
|
|
|
2
|
|
|
|
(6
|
)
|
|
|
17
|
|
|
|
21
|
|
|
|
34
|
|
|
|
|
(19
|
)
|
|
|
(30
|
)
|
|
|
4
|
|
|
|
15
|
|
|
|
(30
|
)
|
|
Current quarter core income
|
|
|
|
$
|
1,719
|
|
|
$
|
1,703
|
|
|
$
|
1,571
|
|
|
$
|
736
|
|
|
$
|
5,729
|
|
|
|
$
|
57
|
|
|
$
|
324
|
|
|
$
|
162
|
|
|
$
|
(106
|
)
|
|
$
|
437
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chemical
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior year core income
|
|
|
|
$
|
159
|
|
|
$
|
144
|
|
|
$
|
181
|
|
|
$
|
128
|
|
|
$
|
612
|
|
|
|
$
|
136
|
|
|
$
|
133
|
|
|
$
|
140
|
|
|
$
|
160
|
|
|
$
|
569
|
|
|
Sales price
|
|
|
|
|
(31
|
)
|
|
|
(5
|
)
|
|
|
7
|
|
|
|
6
|
|
|
|
(23
|
)
|
|
|
|
(88
|
)
|
|
|
(115
|
)
|
|
|
(181
|
)
|
|
|
(177
|
)
|
|
|
(561
|
)
|
|
Sales volume / mix
|
|
|
|
|
43
|
|
|
|
29
|
|
|
|
9
|
|
|
|
21
|
|
|
|
102
|
|
|
|
|
(44
|
)
|
|
|
(29
|
)
|
|
|
1
|
|
|
|
(46
|
)
|
|
|
(118
|
)
|
|
Operations / manufacturing
|
|
|
|
|
(19
|
)
|
|
|
(36
|
)
|
|
|
(65
|
)
|
|
|
13
|
|
|
|
(107
|
)
|
|
|
|
145
|
|
|
|
146
|
|
|
|
213
|
|
|
|
174
|
|
|
|
678
|
|
|
All others
|
|
|
|
|
(16
|
)
|
|
|
1
|
|
|
|
8
|
|
|
|
(8
|
)
|
|
|
(15
|
)
|
|
|
|
(10
|
)
|
|
|
1
|
|
|
|
1
|
|
|
|
5
|
|
|
|
(3
|
)
|
|
Current quarter core income
|
|
|
|
$
|
136
|
|
|
$
|
133
|
|
|
$
|
140
|
|
|
$
|
160
|
|
|
$
|
569
|
|
|
|
$
|
139
|
|
|
$
|
136
|
|
|
$
|
174
|
|
|
$
|
116
|
|
|
$
|
565
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Midstream and Marketing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior year core income
|
|
|
|
$
|
183
|
|
|
$
|
123
|
|
|
$
|
125
|
|
|
$
|
106
|
|
|
$
|
537
|
|
|
|
$
|
96
|
|
|
$
|
130
|
|
|
$
|
155
|
|
|
$
|
168
|
|
|
$
|
549
|
|
|
Marketing
|
|
|
|
|
(99
|
)
|
|
|
(9
|
)
|
|
|
43
|
|
|
|
27
|
|
|
|
(38
|
)
|
|
|
|
(21
|
)
|
|
|
7
|
|
|
|
(98
|
)
|
|
|
(165
|
)
|
|
|
(277
|
)
|
|
Gas plants
|
|
|
|
|
-
|
|
|
|
9
|
|
|
|
7
|
|
|
|
22
|
|
|
|
38
|
|
|
|
|
(41
|
)
|
|
|
(33
|
)
|
|
|
(35
|
)
|
|
|
3
|
|
|
|
(106
|
)
|
|
Pipelines
|
|
|
|
|
6
|
|
|
|
6
|
|
|
|
(19
|
)
|
|
|
(7
|
)
|
|
|
(14
|
)
|
|
|
|
(26
|
)
|
|
|
(15
|
)
|
|
|
6
|
|
|
|
(45
|
)
|
|
|
(80
|
)
|
|
Power generation
|
|
|
|
|
8
|
|
|
|
5
|
|
|
|
3
|
|
|
|
7
|
|
|
|
23
|
|
|
|
|
(12
|
)
|
|
|
(11
|
)
|
|
|
4
|
|
|
|
-
|
|
|
|
(19
|
)
|
|
All others
|
|
|
|
|
(2
|
)
|
|
|
(4
|
)
|
|
|
(4
|
)
|
|
|
13
|
|
|
|
3
|
|
|
|
|
(1
|
)
|
|
|
6
|
|
|
|
(1
|
)
|
|
|
(6
|
)
|
|
|
(2
|
)
|
|
Current quarter core income
|
|
|
|
$
|
96
|
|
|
$
|
130
|
|
|
$
|
155
|
|
|
$
|
168
|
|
|
$
|
549
|
|
|
|
$
|
(5
|
)
|
|
$
|
84
|
|
|
$
|
31
|
|
|
$
|
(45
|
)
|
|
$
|
65
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule 11
|
|
|
View source version on businesswire.com: http://www.businesswire.com/news/home/20160204005649/en/ Copyright Business Wire 2016
Source: Business Wire
(February 4, 2016 - 7:00 AM EST)
News by QuoteMedia
www.quotemedia.com
|
