Company: OXY-WT
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000797468-25-000076
Chunk: 26

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 26
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 depletion and amortization of assets1,917 1,693 Deferred income tax benefit(129)(91)Other noncash charges to income 267 138 Changes in operating assets and liabilities:Increase in trade receivables(85)(76)Increase in inventories(49)(110)(Increase) decrease in other current assets(52)6 Decrease in accounts payable and accrued liabilities(686)(454)Increase in current domestic and foreign income taxes20 195 Net cash provided by operating activities2,148 2,007 CASH FLOW FROM INVESTING ACTIVITIESCapital expenditures(1,908)(1,783)Change in capital accrual5 51 Purchases of assets, businesses and equity investments, net(52)(142)Proceeds from sales of assets and equity investments, net1,306 98 Equity investments and other, net(82)(34)Net cash used by investing activities(731)(1,810)CASH FLOW FROM FINANCING ACTIVITIESPayments of long-term debt, net(518)— Proceeds from issuance of common stock25 88 Cash dividends paid on common and preferred stock(380)(332)Contributions from noncontrolling interest63 57 Other financing, net(122)(141)Net cash used by financing activities(932)(328)Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents485 (131)Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of period2,157 1,464 Cash, cash equivalents, restricted cash and restricted cash equivalents — end of period$2,642 $1,333 The accompanying notes are an integral part of these Consolidated Condensed Financial Statements.

7

Notes to Consolidated Condensed Financial StatementsOccidental Petroleum Corporation and Subsidiaries

NOTE 1 - GENERALNATURE OF OPERATIONSOccidental conducts its operations through various subsidiaries and affiliates. Occidental has made its disclosures in accordance with United States generally accepted accounting principles as they apply to interim reporting, and has condensed or omitted, as permitted by the rules and regulations of the SEC, certain information and disclosures normally included in Consolidated Financial Statements and the notes thereto. These unaudited Consolidated Condensed Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and the notes thereto in the 2024 Form 10-K.In the opinion of Occidental’s management, the accompanying unaudited