Company: OXY-WT
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000797468-25-000076
Chunk: 5

Company: OCCIDENTAL PETROLEUM CORP /DE/
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 2
Chunk 5
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 1,459 Unallocated Corporate Items (a)Interest expense, net(318)(327)(284)Income tax (expense) benefit(387)49 (304)Corporate and other items, net(155)(1,150)(165)Income (loss) from continuing operations$945 $(120)$706 Discontinued operations, net of taxes — — 182 Net income (loss)$945 $(120)$888 Less: Net income attributable to noncontrolling interest(9)(7)— Less: Preferred stock dividends(170)(170)(170)Net income (loss) attributable to common stockholders$766 $(297)$718 Net income (loss) per share attributable to common stockholders - diluted$0.77 $(0.32)$0.75 

(a)    Refer to the Items Affecting Comparability table which sets forth items affecting Occidental's earnings that vary widely and unpredictably in nature, timing and amount.

25

ITEMS AFFECTING COMPARABILITY

The following table sets forth items affecting the comparability of Occidental's earnings that vary widely and unpredictably in nature, timing and amount:

Three months endedmillionsMarch 31, 2025December 31, 2024March 31, 2024Oil and gasLosses on sales of assets and other, net$— $(13)$— Asset impairments— (334)— Legal settlements— — (44)Total oil and gas— (347)(44)ChemicalLegal settlements(30)(10)(6)Total chemical(30)(10)(6)Midstream and marketingGains on sales of assets and other, net (a)— — 122 Derivative losses, net (b)(84)(88)(91)Total midstream and marketing(84)(88)31 CorporateAcquisition-related costs and others (c)(6)(9)(56)Gains on sales of assets and other, net— 48 — Passaic environmental reserve— (925)— Environmental receivable valuation allowance adjustment— (84)— Total corporate(6)(970)(56)State tax rate revaluation— 10 — Income tax impact on items affecting comparability26 316 7 Loss(94)(1,089)(68)Discontinued operations, net of taxes— — 182 Total$(94)$(1,089)$114 

(a)