Company: OXY-WT
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000797468-25-000076
Chunk: 69

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 69
---
 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.

24

CONSOLIDATED RESULTS OF OPERATIONS AND ITEMS AFFECTING COMPARABILITY

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

Three months endedmillionsMarch 31, 2025December 31, 2024March 31, 2024Net incomeOil and gas (a)$1,697 $1,172 $1,238 Chemical (a)185 270 254 Midstream and marketing (a)(77)(134)(33)Total1,805 1,308 1,459 Unallocated Corporate Items (a)Interest expense, net(318)(327)(284)Income tax (expense) benefit(387)49 (304)Corporate and other items, net(155)(1,150)(165)Income (loss) from continuing operations$945 $(120)$706 Discontinued operations, net of taxes — — 182 Net income (loss)$945 $(120)$888 Less: Net income attributable to noncontrolling interest(9)(7)— Less: Preferred stock dividends(170)(170)(170)Net income (loss) attributable to common stockholders$766 $(297)$718 Net income (loss) per share attributable to common stockholders - diluted$0.77 $(0.32)$0.75 

(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.

25

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 endedmillionsMarch 31, 2025December 31, 2024March 31, 2024Oil and gasLosses on sales of assets and other, net$— $(13)$— Asset impairments— (334)— Legal settlements— — (44)Total oil and gas— (347)(44)ChemicalLegal settlements(30)(10)(6)Total chemical(30)(10)(6)Midstream and marketingGains on sales of assets and other, net (a)—