Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 197

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 197
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, and through the date of this filing, Occidental was in compliance with all covenants in its financing agreements. As of December 31, 2024, Occidental had $1.0 billion in current maturities of long-term debt which are due in 2025, and $4.1 billion in long-term obligations due in 2026. As of December 31, 2024, Occidental had non-cancelable lease payments of $582 million due in 2025, and $425 million due in 2026. Occidental’s final payment for the Carbon Engineering acquisition of approximately $415 million is due in November 2025.

Occidental is party to various purchase agreements that are not accounted for as leases or otherwise accrued as liabilities as of December 31, 2024. These agreements consist primarily of obligations to secure terminal, pipeline and processing capacity, purchase services used in the normal course of business including transporting and disposing of 

 OXY 2024 FORM 10-K49

table of contentsMANAGEMENT’S DISCUSSION AND ANALYSIS

produced water, purchase goods used in the production of finished goods including certain chemical raw materials and power and agreements relating to equipment maintenance and service. Refer to the line item “Purchase Obligations” in the table below under Contractual Obligations for the amounts that will be paid for such outstanding off-balance sheet purchase obligations from 2025 and thereafter.

CONTRACTUAL OBLIGATIONS

The following table summarizes and cross-references Occidental’s contractual obligations and indicates on- and off-balance sheet obligations as of December 31, 2024. Commitments related to held for sale assets are excluded.

millions Payments Due by YearTotal20252026 and 20272028 and 20292030 and thereafterOn-Balance Sheet     Current portion of long-term debt (Note 6) (a)$1,003 $1,003 $— $— $— Long-term debt (Note 6) (a)23,388 — 5,653 2,761 14,974 Expected interest payments on debt13,179 1,451 2,459 2,050 7,219 Leases (Note 7) (b)2,021 582 706 331 402 Asset retirement obligations (Note 1)4,430 388 893 571 2,578