Company: OXY-WT
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000797468-25-000111
Chunk: 47

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 47
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 Corporate and eliminations(182)(164)(337)(329)Interest and debt expense, net(276)(252)(594)(536)Income from continuing operations before income taxes$738 $1,635 $2,070 $2,645 Income tax expense(270)(465)(657)(769)Income from continuing operations$468 $1,170 $1,413 $1,876 Discontinued operations, net of tax— — — 182 Net income$468 $1,170 $1,413 $2,058 Less: Net income attributable to noncontrolling interest(10)(8)(19)(8)Less: Preferred stock dividends (170)(170)(340)(340)Net income attributable to common stockholders$288 $992 $1,054 $1,710  The following tables include a summary of significant revenue and expense line items for each segment. Items within “Significant segment expenses” align with the significant segment-level information that is regularly provided to the CODM as required by the adoption of ASU 2023-07 in the fourth quarter of 2024. Intersegment expenses are included within the amounts shown.

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OIL AND GAS SEGMENT Three months ended June 30,Six months ended June 30,millions 2025202420252024Revenues and other income  Net sales$5,009 $5,469 $10,692 $10,384 Gains (losses) on sale of assets and other, net(2)7 (8)10 Total$5,007 $5,476 $10,684 $10,394 Significant segment expensesOil and gas lease operating expense1,135 1,179 2,352 2,340 Transportation and gathering expense403 400 810 748 Other operating and non-operating expense357 233 601 507 Taxes other than on income262 263 522 495 Depreciation, depletion and amortization1,718 1,573 3,420 3,070 Other segment expenses (a)187 183 337 337 Total$4,062 $3,831 $8,042 $7,497 Segment income before other items$945 $1,645 $2,642 $2,897 Losses from equity investments and other