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Industry Segments (Tables)
 9 Months Ended
Sep. 30, 2014
Industry Segments  
Schedule of industry segments

 

 

 

 

Oil

 

 

 

 

Midstream

 

Corporate

 

 

 

 

 

and

 

 

 

 

and

 

and

 

 

 

 

 

Gas

 

Chemical

 

Marketing

 

Eliminations

 

Total

Three months ended September 30,

   2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

4,652

 

 

$

1,232

 

 

$

362

 

 

$

(250

)

 

$

5,996

 

Pre-tax operating profit (loss)

 

$

1,899

 

 

$

140

 

 

$

128

 

 

$

(136

)

(b)

$

2,031

 

Income taxes

 

—

 

 

—

 

 

—

 

 

(817

)

(c)

(817

)

Discontinued operations, net

 

—

 

 

—

 

 

—

 

 

(3

)

 

(3

)

Net income attributable to

   noncontrolling interest

 

—

 

 

—

 

 

(3

)

 

—

 

 

(3

)

Net income (loss) attributable to

   common stock

 

$

1,899

 

 

$

140

 

 

$

125

 

 

$

(956

)

 

$

1,208

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30,

   2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

5,018

 

 

$

1,200

 

 

$

442

 

 

$

(211

)

 

$

6,449

 

Pre-tax operating profit (loss)

 

$

2,363

 

 

$

181

 

 

$

212

 

 

$

(131

)

(b)

$

2,625

 

Income taxes

 

—

 

 

—

 

 

—

 

 

(1,037

)

(c)

(1,037

)

Discontinued operations, net

 

—

 

 

—

 

 

—

 

 

(5

)

 

(5

)

Net income (loss) attributable to

   common stock

 

$

2,363

 

 

$

181

 

 

$

212

 

 

$

(1,173

)

 

$

1,583

 

 

 

 

Oil

 

 

 

 

Midstream

 

Corporate

 

 

 

 

 

and

 

 

 

 

and

 

and

 

 

 

 

 

Gas

 

Chemical

 

Marketing

 

Eliminations

 

Total

Nine months ended September 30,

   2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

14,135

 

(a)

$

3,694

 

 

$

1,327

 

 

$

(797

)

 

$

18,359

 

Pre-tax operating profit (loss)

 

$

6,185

 

 

$

409

 

 

$

522

 

 

$

(372

)

(b)

$

6,744

 

Income taxes

 

—

 

 

—

 

 

—

 

 

(2,706

)

(c)

(2,706

)

Discontinued operations, net

 

—

 

 

—

 

 

—

 

 

(1

)

 

(1

)

Net income attributable to

   noncontrolling interest

 

—

 

 

—

 

 

(8

)

 

—

 

 

(8

)

Net income (loss) attributable to

   common stock

 

$

6,185

 

 

$

409

 

 

$

514

 

 

$

(3,079

)

 

$

4,029

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30,

   2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

14,179

 

 

$

3,562

 

 

$

1,164

 

 

$

(622

)

 

$

18,283

 

Pre-tax operating profit (loss)

 

$

6,383

 

 

$

615

 

(d)

$

475

 

 

$

(417

)

(b)

$

7,056

 

Income taxes

 

—

 

 

—

 

 

—

 

 

(2,782

)

(c)

(2,782

)

Discontinued operations, net

 

—

 

 

—

 

 

—

 

 

(14

)

 

(14

)

Net income (loss) attributable to

   common stock

 

$

6,383

 

 

$

615

 

 

$

475

 

 

$

(3,213

)

 

$

4,260

 

 

(a)      Includes second quarter pre-tax gain of $532 million for the Hugoton sale. In addition, in June 2014, management determined it would not pursue the exploration and development of certain of its non-producing domestic oil and gas acreage, and Occidental recorded a pre-tax impairment charge of $471 million.

 

(b)     Includes unallocated net interest expense, administration expense, environmental remediation and other pre-tax items. The nine month period ended September 30, 2013 includes a $55 million pre-tax charge for the estimated costs related to employment and post-employment benefits for Occidental’s former Executive Chairman and termination of certain other employees and consulting arrangements.

 

(c)      Includes all foreign and domestic income taxes from continuing operations.

 

(d)     Includes a $131 million pre-tax gain for the sale of an equity investment in Carbocloro, a Brazilian entity which owns a chemical facility.