Company: OXY-WT
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000797468-25-000076
Chunk: 27

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 27
---
 Consolidated Condensed Financial Statements in this report reflect all adjustments (consisting of normal recurring adjustments) that are necessary to fairly present Occidental’s results of operations and cash flows for the three months ended March 31, 2025 and 2024 and Occidental’s financial position as of March 31, 2025 and December 31, 2024. The income and cash flows for the periods ended March 31, 2025 and 2024 are not necessarily indicative of the income or cash flows to be expected for the full year.CASH EQUIVALENTS AND RESTRICTED CASH EQUIVALENTSOccidental considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents or restricted cash equivalents. The cash equivalents and restricted cash equivalents balances for the periods presented include investments in government money market funds in which the carrying value approximates fair value.The following table provides a reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents as reported in the Consolidated Condensed Statements of Cash Flows as of March 31, 2025 and 2024:millions20252024Cash and cash equivalents$2,612 $1,272 Restricted cash and restricted cash equivalents included in other current assets15 44 Restricted cash and restricted cash equivalents included in other long-term assets15 17 Cash, cash equivalents, restricted cash and restricted cash equivalents$2,642 $1,333 SUPPLEMENTAL CASH FLOW INFORMATIONThe following table represents U.S. federal, state and international income taxes paid and interest paid during the three months ended March 31, 2025 and 2024, respectively:millions20252024Income tax payments$490 $152 Interest paid (a)$474 $395 (a)    Net of capitalized interest of $54 million and $33 million for the three months ended March 31, 2025 and 2024, respectively.WES INVESTMENTWES is a publicly traded limited partnership with its limited partner units traded on the NYSE under the ticker symbol "WES." As of March 31, 2025, Occidental owned all of the 2.3% non-voting general partner interest, 43.5% of the WES limited partner units, and a 2% non-voting limited partner interest in WES Operating, a subsidiary of WES. As of March 31, 2025, Occidental's