DOMESTIC AND FOREIGN INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2013

DOMESTIC AND FOREIGN INCOME TAXES

Domestic and foreign components of income from continuing operations before domestic and foreign income taxes

For the years ended December 31, (in millions)	Domestic		Foreign		Total
2013	$	4,930	$	4,747	$	9,677
2012	$	2,117	$	5,636	$	7,753
2011	$	4,806	$	6,035	$	10,841

Provisions (credits) for domestic and foreign income taxes on continuing operations

For the years ended December 31, (in millions)	United States Federal			State and Local		Foreign			Total
2013
Current	$	361		$	37	$	2,170		$	2,568
Deferred	1,145			59		(17		)	1,187
	$	1,506		$	96	$	2,153		$	3,755
2012
Current	$	(401	)	$	8	$	2,383		$	1,990
Deferred	1,046			41		41			1,128
	$	645		$	49	$	2,424		$	3,118
2011
Current	$	320		$	88	$	2,357		$	2,765
Deferred	1,340			47		49			1,436
	$	1,660		$	135	$	2,406		$	4,201

Reconciliation of the United States federal statutory income tax rate to Occidental's worldwide effective tax rate on income from continuing operations stated as a percentage of pre-tax income

For the years ended December 31,	2013		2012		2011
United States federal statutory tax rate	35	%	35	%	35	%
Operations outside the United States	4		5		4
State income taxes, net of federal benefit	1		1		1
Other	(1	)	(1	)	(1	)
Worldwide effective tax rate	39	%	40	%	39	%

Tax effects of temporary differences resulting in deferred income taxes

	2013					2012
Tax effects of temporary differences (in millions)	Deferred Tax Assets			Deferred Tax Liabilities		Deferred Tax Assets			Deferred Tax Liabilities
Property, plant and equipment differences	$	—		$	8,363	$	—		$	7,316
Equity investments, partnerships and foreign subsidiaries	—			225		—			351
Environmental reserves	121			—		126			—
Postretirement benefit accruals	376			—		413			—
Deferred compensation and benefits	222			—		278			—
Asset retirement obligations	407			—		367			—
Foreign tax credit carryforwards	1,091			—		1,277			—
Other tax credit carryforwards	—			—		195			—
Federal benefit of state income taxes	136			—		89			—
All other	344			82		334			161
Subtotal	2,697			8,670		3,079			7,828
Valuation allowance	(1,074		)	—		(1,040		)	—
Total deferred taxes	$	1,623		$	8,670	$	2,039		$	7,828

Reconciliation of the beginning and ending amount of unrecognized tax benefits

For the years ended December 31, (in millions)	2013			2012
Balance at January 1,	$	76		$	67
Additions based on tax positions related to the current year	—			16
Reductions based on tax positions related to prior years and settlements	(15		)	(7		)
Balance at December 31,	$	61		$	76