OCCIDENTAL PETROLEUM CORP DE
For the period ended Dec 31, 2024. Filed Feb 18, 2025.
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FY2024 · Filed Feb 18, 2025
OXY$56.90+2.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| table of contents | FINANCIAL STATEMENTS |
| Consolidated Statements of Cash Flows | Occidental Petroleum Corporationand Subsidiaries |
|---|
| Years Ended December 31, | |||
|---|---|---|---|
| millions | 2024 | 2023 | 2022 |
| CASH FLOW FROM OPERATING ACTIVITIES | |||
| Net income | $3,078 | $4,696 | $13,304 |
| Adjustments to reconcile net income to net cash from operating activities: | |||
| Discontinued operations, net | (182) | — | — |
| Depreciation, depletion and amortization of assets | 7,371 | 6,865 | 6,926 |
| Deferred income tax provision (benefit) | (461) | 57 | (1,644) |
| Other noncash charges (benefit) to income | 543 | (100) | (8) |
| Asset impairments and related items | 1,281 | 209 | — |
| Losses (gains) on sales of assets and other, net | 60 | (522) | (308) |
| Undistributed losses (earnings) from equity investments | (79) | 144 | (219) |
| Dry hole expense | 106 | 299 | 84 |
| Changes in operating assets and liabilities: | |||
| (Increase) decrease in trade receivables | (133) | 1,088 | (97) |
| Increase in inventories | (46) | (91) | (230) |
| (Increase) decrease in joint interest receivables and other current assets | 303 | (13) | (335) |
| Decrease in accounts payable and accrued liabilities | (661) | (549) | (478) |
| Increase (decrease) in current domestic and foreign income taxes | 559 | 225 | (185) |
| Operating cash flow from continuing operations | 11,739 | 12,308 | 16,810 |
| Operating cash flow from discontinued operations | (300) | — | — |
| Net cash provided by operating activities | 11,439 | 12,308 | 16,810 |
| CASH FLOW FROM INVESTING ACTIVITIES | |||
| Capital expenditures | (7,018) | (6,270) | (4,497) |
| Change in capital accrual | 96 | 25 | 147 |
| Purchases of assets, businesses and equity investments, net | (9,129) | (713) | (990) |
| Proceeds from sale of assets and equity investments, net | 1,673 | 448 | 584 |
| Equity investments and other, net | (212) | (470) | (116) |
| Net cash used by investing activities | (14,590) | (6,980) | (4,872) |
| CASH FLOW FROM FINANCING ACTIVITIES | |||
| Draws on receivables securitization facility | — | 900 | 400 |
| Payment of receivables securitization facility | — | (900) | (400) |
| Proceeds from long-term debt, net | 9,612 | (46) | — |
| Payments of long-term debt, net | (4,514) | (22) | (9,484) |
| Redemption of preferred stock | — | (1,661) | — |
| Purchases of treasury stock | (27) | (1,798) | (3,099) |
| Cash dividends paid on common and preferred stock | (1,446) | (1,365) | (1,184) |
| Proceeds from issuance of common stock | 584 | 135 | 293 |
| Contributions from noncontrolling interest | 200 | 100 | — |
| Financing portion of net cash paid for derivative instruments | — | — | (111) |
| Deferred payments for purchases of assets and businesses | (318) | — | — |
| Other financing, net | (247) | (233) | (130) |
| Net cash provided (used) by financing activities | 3,844 | (4,890) | (13,715) |
| Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | 693 | 438 | (1,777) |
| Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of year | 1,464 | 1,026 | 2,803 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents — end of year | $2,157 | $1,464 | $1,026 |
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