OCCIDENTAL PETROLEUM CORP DE

For the period ended Dec 31, 2023. Filed Feb 14, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 14, 2024

OXY$55.76-1.1%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

FINANCIAL STATEMENTS

Consolidated Statements of Operations	Occidental Petroleum Corporationand Subsidiaries

	Years Ended December 31,
millions except per-share amounts	2023	2022	2021
REVENUES AND OTHER INCOME
Net sales	$28,257	$36,634	$25,956
Interest, dividends and other income	139	153	166
Gains on sales of assets and other, net	522	308	192
Total	28,918	37,095	26,314
COSTS AND OTHER DEDUCTIONS
Oil and gas lease operating expense	4,677	4,028	3,160
Transportation and gathering expense	1,481	1,475	1,419
Chemical and midstream cost of sales	3,116	3,273	2,772
Purchased commodities	2,009	3,287	2,308
Selling, general and administrative	1,083	945	863
Other operating and non-operating expense	1,084	1,271	1,065
Taxes other than on income	1,087	1,548	1,005
Depreciation, depletion and amortization	6,865	6,926	8,447
Asset impairments and other charges	209	—	304
Acquisition-related costs	26	89	153
Exploration expense	441	216	252
Interest and debt expense, net	945	1,030	1,614
Total	23,023	24,088	23,362
Income before income taxes and other items	5,895	13,007	2,952
OTHER ITEMS
Gains on interest rate swaps, net	—	317	122
Income from equity investments and other	534	793	631
Total	534	1,110	753
Income from continuing operations before income taxes	6,429	14,117	3,705
Income tax expense	(1,733)	(813)	(915)
Income from continuing operations	4,696	13,304	2,790
Loss from discontinued operations, net of tax	—	—	(468)
NET INCOME	4,696	13,304	2,322
Less: Preferred stock dividends and redemption premiums	(923)	(800)	(800)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$3,773	$12,504	$1,522
PER COMMON SHARE
Income from continuing operations—basic	$4.22	$13.41	$2.12
Loss from discontinued operations—basic	—	—	(0.50)
Net income attributable to common stockholders—basic	$4.22	$13.41	$1.62
Income from continuing operations—diluted	$3.90	$12.40	$2.06
Loss from discontinued operations—diluted	—	—	(0.48)
Net income attributable to common stockholders—diluted	$3.90	$12.40	$1.58

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.