Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 15

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 15
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1,184)Proceeds from issuance of common stock584 135 293 Contributions from noncontrolling interest200 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 activities3,844 (4,890)(13,715)Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents693 438 (1,777)Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of year1,464 1,026 2,803 Cash, cash equivalents, restricted cash and restricted cash equivalents — end of year$2,157 $1,464 $1,026 

The accompanying notes are an integral part of these Consolidated Financial Statements.

 OXY 2024 FORM 10-K69

table of contentsFINANCIAL STATEMENTSFOOTNOTES

Notes to Consolidated Financial StatementsOccidental Petroleum Corporationand Subsidiaries

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESNATURE OF OPERATIONSOccidental conducts its operations through various subsidiaries and affiliates. Occidental’s principal businesses consist of three reporting segments: oil and gas, chemical and midstream and marketing. The oil and gas segment explores for, develops and produces oil (which includes condensate), NGL and natural gas. OxyChem primarily manufactures and markets basic chemicals and vinyls. The midstream and marketing segment purchases, markets, gathers, processes, transports and stores oil (which includes condensate), NGL, natural gas, CO2 and power. It also optimizes its transportation and storage capacity, and invests in entities that conduct similar activities, such as WES. The midstream and marketing segment also includes OLCV. OLCV seeks to leverage Occidental’s legacy of carbon management experience to develop CCUS projects, including the commercialization of DAC technology, and invests in other low-carbon technologies intended to reduce GHG emissions from Occidental’s operations and strategically partner with other industries to help reduce their emissions.PRINCIPLES OF CONSOLIDATIONThe Consolidated Financial Statements have been prepared in conformity with GAAP and include the accounts of Occidental, its subsidiaries, its undivided interests in oil and gas exploration and production ventures and, variable interest entities, for which Occidental was