Company: OXY-WT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000797468-25-000111
Chunk: 76

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 76
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9)%$2,877 Chemical (a)398 (28)%550 Midstream and marketing (a)(28)(134)%83 Total3,001 (15)%3,510 Unallocated Corporate Items (a)Interest expense, net(594)11 %(536)Income tax expense(657)(15)%(769)Corporate and other items, net(337)2 %(329)Income from continuing operations$1,413 (25)%$1,876 Discontinued operations, net of taxes — (100)%182 Net income $1,413 (31)%$2,058 Less: Net income attributable to noncontrolling interest(19)138 %(8)Less: Preferred stock dividends(340)— %(340)Net income attributable to common stockholders$1,054 (38)%$1,710 Net income per share attributable to common stockholders - diluted$1.03 (42)%$1.78 

(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.

27

ITEMS AFFECTING COMPARABILITY

The following table sets forth items affecting the comparability of Occidental's earnings that vary widely and unpredictably in nature, timing and amount:

Three months endedSix months endedmillionsJune 30, 2025March 31, 2025June 30, 2025June 30, 2024Oil and gasLegal reserves and other$(65)$— $(65)$(54)Total oil and gas(65)— (65)(54)ChemicalLegal reserves and other— (30)(30)(6)Total chemical— (30)(30)(6)Midstream and marketingAsset impairments and other charges (a)(162)— (162)— Derivative gains (losses), net (a)95 (84)11 (86)Gains on sales of assets and other, net (a)— — — 157 TerraLithium fair value gain— — — 27 Total midstream and marketing(67)(84)(151)98 CorporateAcquisition-related costs and others (b)(6)(6)(12)(85)Total corporate(6)(6)(12)(85)Income tax impact on items affecting comparability30 26 56 (