Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 1

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7A
Chunk 1
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 enters into in connection with its marketing activities at fair value. Fair values for these contracts are derived from Level 1 and Level 2 sources. The fair values in future maturity periods are insignificant. 

The following table shows the fair value of Occidental’s derivatives (excluding collateral), segregated by maturity periods and by methodology of fair value estimation:

Maturity Periods Source of Fair Value Assets (Liabilities)millions20252026 and 20272028 and 20292030 and thereafterTotalPrices actively quoted$3 $— $— $— $3 Prices provided by other external sources2 (1)1 — 2 Total$5 $(1)$1 $— $5 

QUANTITATIVE INFORMATION

Occidental uses value at risk to estimate the potential effects of changes in fair values of commodity contracts used in trading activities. This measure determines the maximum potential negative one day change in fair value with a 95% level of confidence. Additionally, Occidental uses complementary trading limits including position and tenor limits and maintains liquid positions as a result of which market risk typically can be neutralized or mitigated on short notice. As a result of these controls, Occidental believes that the market risk of its trading activities is not reasonably likely to have a material adverse effect on its performance.

58 OXY 2024 FORM 10-K

table of contentsQUANTITATIVE AND QUALITATIVE DISCLOSURES

INTEREST RATE RISK

GENERAL

As of December 31, 2024, Occidental had fixed rate debt with a fair value of $21.2 billion outstanding. A 25-basis point change in Treasury rates would change the fair value of the fixed rate debt approximately $325 million.

As of December 31, 2024, Occidental had variable rate debt with a notional value of $2.8 billion outstanding. A 25-basis point increase in SOFR interest rates would increase gross interest expense $7 million per year.

The table below provides information about Occidental’s long-term debt obligations. Debt amounts represent principal payments by maturity date.

millions except percentagesU.S. DollarFixed-Rate DebtU.S. DollarVariable-Rate DebtTotal (a)2025$1,003 $— $1,003 20261,449 2,700 4,149 20271,504 — 1,504 2028907 — 907 20291,854