OCCIDENTAL PETROLEUM CORP /DE/
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
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FY2025 · Filed Feb 18, 2026
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 | 2025 | 2024 | 2023 |
| CASH FLOW FROM OPERATING ACTIVITIES | |||
| Net income | $2,369 | $3,078 | $4,696 |
| Adjustments to reconcile net income to net cash from operating activities: | |||
| Discontinued operations, net | (262) | (212) | (1,364) |
| Depreciation, depletion and amortization of assets | 7,533 | 6,951 | 6,449 |
| Deferred income tax provision (benefit) | 127 | (265) | 54 |
| Other noncash charges to income | 420 | 454 | 133 |
| Asset impairments | 21 | 355 | 209 |
| Losses (gains) on sales of assets and other, net | (263) | 60 | (522) |
| Undistributed losses (earnings) from equity investments | 619 | (83) | 141 |
| Dry hole expense | 109 | 106 | 299 |
| Changes in operating assets and liabilities: | |||
| (Increase) decrease in trade receivables | 252 | (116) | 931 |
| (Increase) decrease in inventories | 12 | (27) | (84) |
| (Increase) decrease in joint interest receivables and other current assets | (62) | 286 | (350) |
| Decrease in accounts payable and accrued liabilities | (964) | (540) | (423) |
| Increase (decrease) in current domestic and foreign income taxes | (305) | 472 | 66 |
| Operating cash flow from continuing operations | 9,606 | 10,519 | 10,235 |
| Operating cash flow from discontinued operations | 926 | 920 | 2,073 |
| Net cash provided by operating activities | 10,532 | 11,439 | 12,308 |
| CASH FLOW FROM INVESTING ACTIVITIES | |||
| Capital expenditures | (6,427) | (6,263) | (5,696) |
| Change in capital accrual | 32 | 100 | (22) |
| Purchases of assets, businesses and equity investments, net | (280) | (9,117) | (713) |
| Proceeds from sale of assets and equity investments, net | 2,278 | 1,673 | 447 |
| Equity investments and other, net | (286) | (214) | (479) |
| Investing cash flow from continuing operations | (4,683) | (13,821) | (6,463) |
| Investing cash flow from discontinued operations | (1,116) | (769) | (517) |
| Net cash used by investing activities | (5,799) | (14,590) | (6,980) |
| CASH FLOW FROM FINANCING ACTIVITIES | |||
| Draws on receivables securitization facility | — | — | 283 |
| Payment of receivables securitization facility | — | — | (283) |
| Proceeds from long-term debt, net | — | 9,612 | (46) |
| Payments of long-term debt, net | (3,754) | (4,514) | (22) |
| Redemption of preferred stock | — | — | (1,661) |
| Purchases of treasury stock | — | (27) | (1,798) |
| Cash dividends paid on common and preferred stock | (1,594) | (1,446) | (1,365) |
| Proceeds from issuance of common stock | 966 | 584 | 135 |
| Contributions from noncontrolling interest | 200 | 200 | 100 |
| Deferred payments for purchases of assets and businesses | (417) | (318) | — |
| Other financing, net | (236) | (242) | (229) |
| Financing cash flow from continuing operations | (4,835) | 3,849 | (4,886) |
| Financing cash flow from discontinued operations | (9) | (5) | (4) |
| Net cash provided (used) by financing activities | (4,844) | 3,844 | (4,890) |
| Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | (111) | 693 | 438 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of year | 2,157 | 1,464 | 1,026 |
| Cash, cash equivalents, restricted cash and restricted cash equivalents — end of year | $2,046 | $2,157 | $1,464 |
| table of contents | FINANCIAL STATEMENTS |
| Consolidated Statements of Cash Flows | Occidental Petroleum Corporationand Subsidiaries |
|---|
| Years Ended December 31, | |||
|---|---|---|---|
| millions | 2025 | 2024 | 2023 |
| CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS BALANCES FROM: | |||
| Continuing operations - beginning of year | $2,150 | $1,451 | $1,006 |
| Discontinued operations - beginning of year (a) | 7 | 13 | 20 |
| Less: discontinued operations - end of year (a) | 41 | 7 | 13 |
| Continuing operations - end of year | 2,005 | 2,150 | 1,451 |
(a) Reported as assets held for sale on our consolidated balance sheets.
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