Company: OXY-WT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051071
Chunk: 23

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 23
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 value:Unamortized premium, net950 1,037 Debt issuance costs(88)(105)Net book value of debt$21,677 $25,323 Long-term finance leases632 658 Current finance leases153 135 Total debt and finance leases$22,462 $26,116 Less: current finance leases(153)(135)Less: current maturities of long-term debt(1,463)(1,003)Long-term debt, net$20,846 $24,978 DEBT ACTIVITYIn the nine months ended September 30, 2025, Occidental used cash on hand, proceeds from asset sales and warrant exercises to repay all of the $1.0 billion senior notes due 2025, $1.2 billion of senior notes due 2026, and $1.4 billion of the two-year term loan due 2026. Occidental terminated its receivables securitization facility effective September 26, 2025. FAIR VALUE OF DEBTThe estimated fair value of Occidental’s debt as of September 30, 2025 and December 31, 2024, the majority of which was classified as Level 1, was $21.0 billion and $24.0 billion, respectively.

NOTE 5 - ACQUISITIONS AND DIVESTITURESCROWNROCK ACQUISITIONIn December 2023, Occidental entered into an agreement to purchase CrownRock for total consideration of $12.4 billion. The CrownRock Acquisition qualified as a business combination and was accounted for using the acquisition method of accounting. As of September 30, 2025, there were no material changes to the allocation presented in the 2024 Form 10-K and Occidental has finalized the purchase price allocation of the consideration.

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The following summarizes the unaudited pro forma condensed financial information of Occidental as if the CrownRock Acquisition had occurred on January 1, 2024:Three months ended September 30, 2024Nine months ended September 30, 2024millions, except per-share amountsRevenues$7,367 $21,424 Net income attributable to common stockholders$1,075 $3,049 Net income attributable to common stockholders per share—basic$1.14 $3.28 Net income attributable to common stockholders per share—diluted$