OCCIDENTAL PETROLEUM CORP DE
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
OXY$56.90+2.0%Stored close · as of Nov 10, 2026
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Consolidated Condensed Statements of Operations — and
| Consolidated Condensed Statements of Operations | Occidental Petroleum Corporation and Subsidiaries |
|---|
| Three months ended March 31, | ||
|---|---|---|
| millions, except per-share amounts | 2024 | 2023 |
| REVENUES AND OTHER INCOME | ||
| Net sales | $5,975 | $7,225 |
| Interest, dividends and other income | 36 | 29 |
| Gains (losses) on sales of assets and other, net | (1) | 4 |
| Total | 6,010 | 7,258 |
| COSTS AND OTHER DEDUCTIONS | ||
| Oil and gas operating expense | 1,161 | 1,081 |
| Transportation and gathering expense | 353 | 384 |
| Chemical and midstream cost of sales | 742 | 745 |
| Purchased commodities | 86 | 498 |
| Selling, general and administrative expenses | 259 | 241 |
| Other operating and non-operating expense | 410 | 308 |
| Taxes other than on income | 235 | 306 |
| Depreciation, depletion and amortization | 1,693 | 1,721 |
| Acquisition-related costs | 12 | — |
| Exploration expense | 66 | 102 |
| Interest and debt expense, net | 284 | 238 |
| Total | 5,301 | 5,624 |
| Income before income taxes and other items | 709 | 1,634 |
| OTHER ITEMS | ||
| Income from equity investments and other | 301 | 100 |
| Total | 301 | 100 |
| Income before income taxes | 1,010 | 1,734 |
| Income tax expense | (304) | (471) |
| Income from continuing operations | 706 | 1,263 |
| Discontinued operations, net of taxes | 182 | — |
| NET INCOME | 888 | 1,263 |
| Less: Preferred stock dividends and redemption premiums | (170) | (280) |
| NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS | $718 | $983 |
| PER COMMON SHARE | ||
| Income from continuing operations—basic | $0.60 | $1.08 |
| Discontinued operations—basic | $0.21 | $— |
| Net income attributable to common stockholders—basic | $0.81 | $1.08 |
| Income from continuing operations—diluted | $0.56 | $1.00 |
| Discontinued operations—diluted | $0.19 | $— |
| Net income attributable to common stockholders—diluted | $0.75 | $1.00 |
| The accompanying notes are an integral part of these Consolidated Condensed Financial Statements. | ||
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