Company: OXY-WT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051071
Chunk: 82

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 2
Chunk 82
---
, 2025. In April 2025, Occidental issued 41.9 million shares of common stock in return for proceeds of approximately $890 million. The proceeds from the warrant exercise were used to repay near-term debt maturities. See Note 4 - Long-Term Debt in the Notes to Consolidated Condensed Financial Statements in Part I, Item 1 of this Form 10-Q.

27

CONSOLIDATED RESULTS OF OPERATIONS AND ITEMS AFFECTING COMPARABILITY

The following table sets forth earnings of each operating segment and corporate items:

millionsThree months ended September 30, 2025% ChangeThree months ended June 30, 2025Net incomeOil and gas (a)$1,300 39 %$934 Chemical (a)197 (8)%213 Midstream and marketing (a)93 90 %49 Total1,590 33 %1,196 Unallocated Corporate Items (a)Interest expense, net(270)(2)%(276)Income tax expense(324)20 %(270)Corporate and other items, net(154)(15)%(182)Net income$842 80 %$468 Less: Net income attributable to noncontrolling interest(12)20 %(10)Less: Preferred stock dividends(169)(1)%(170)Net income attributable to common stockholders$661 130 %$288 Net income per share attributable to common stockholders - diluted$0.65 150 %$0.26 

(a)    Refer to the Items Affecting Comparability table which sets forth items affecting Occidental's earnings that vary widely and unpredictably in nature, timing and amount.

millionsNine months ended September 30, 2025% ChangeNine months ended September 30, 2024Net incomeOil and gas (a)$3,931 (3)%$4,042 Chemical (a)595 (30)%854 Midstream and marketing (a)65 (91)%714 Total4,591 (18)%5,610 Unallocated Corporate Items (a)Interest expense, net(864)2 %(848)Income tax expense(981)(20)%(1,223)Corporate and other items, net(491)(6)%(523)Income from continuing operations$2,255 (25)%$3,016 Discontinued operations, net of taxes —