Company: OXY-WT
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0000797468-25-000029
Chunk: 59

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 59
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 2023Asset Class:Government securities$42 $— $— $42 Corporate bonds (a)— 19 — 19 Equity securities (b)33 — — 33 Other— 47 — 47 Investments measured at fair value$75 $66 $— $141 Investments measured at net asset value (c)— — — 591 Total pension plan assets $75 $66 $— $732 (a)This category represents investment grade bonds of U.S. and non-U.S. issuers from diverse industries.(b)This category represents direct investments in mutual funds and common and preferred stocks from diverse U.S. and non-U.S. industries.(c)Certain investments measured at fair value using the NAV per share (or its equivalent) have not been categorized in the fair value hierarchy. Amounts presented in this table are intended to reconcile the fair value hierarchy to the pension plan assets.

 OXY 2024 FORM 10-K99

table of contentsFINANCIAL STATEMENTSFOOTNOTES

Occidental expects to contribute approximately $29 million to its defined benefit pension plans during 2025.Estimated future benefit payments, which reflect expected future service, as appropriate, are as follows for the years ended December 31:millionsPension BenefitsPostretirement Benefits2025$73 $54 202668 56 202770 60 202865 59 202962 58 2030 - 2034295 293 

NOTE 12 - ENVIRONMENTAL LIABILITIES AND EXPENDITURESOccidental and its subsidiaries and their respective operations are subject to numerous federal, state, local and international laws and regulations related to improving or maintaining environmental quality. The laws that require or address environmental remediation, including CERCLA and similar federal, state, local and international laws, may apply retroactively and regardless of fault, the legality of the original activities or the current ownership or control of sites. Occidental or certain of its subsidiaries participate in or actively monitor a range of remedial activities and government or private proceedings under these laws with respect to alleged past practices at Third-Party, Currently Operated, and Closed or Non-operated Sites, which categories may include NPL Sites. Remedial activities may include one or more of the following: investigation involving sampling, modeling, risk assessment or monitoring; cleanup measures including removal, treatment or disposal; or operation and maintenance