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INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2014
INVESTMENTS AND RELATED-PARTY TRANSACTIONS  
Summarized financial information of equity-method investments

 

For the years ended December 31, (in millions)

 

2014

 

2013

 

2012

 

Revenues

 

$
3,090 

 

$
3,373 

 

$
2,667 

 

Costs and expenses

 
2,774 

 
2,987 

 
2,310 

 

Net income

 

$
316 

 

$
386 

 

$
357 

 

 

 

 

 

 

 

 

 

As of December 31, (in millions)

 

2014

 

2013

 

 

 

Current assets

 

$
1,127 

 

$
1,813 

 

 

 

Non-current assets

 

$
2,925 

 

$
4,412 

 

 

 

Current liabilities

 

$
771 

 

$
1,308 

 

 

 

Long-term debt

 

$
1,701 

 

$
2,506 

 

 

 

Other non-current liabilities

 

$
83 

 

$
163 

 

 

 

Stockholders’ equity

 

$
1,498 

 

$
2,248 

 

 

 

 

Related-party transactions

 

For the years ended December 31, (in millions)

 

2014

 

2013

 

2012

 

Sales (a)

 

$
835 

 

$
663 

 

$
419 

 

Purchases

 

$
6 

 

$

 —

 

$
8 

 

Services

 

$
27 

 

$
30 

 

$
17 

 

Advances and amounts due from

 

$
26 

 

$
67 

 

$
25 

 

Amounts due to

 

$
15 

 

$
3 

 

$
129 

 

 

(a)

In 2014, 2013 and 2012, sales of Occidental-produced oil and NGLs to Plains Pipeline accounted for 46 percent, 72 percent and 80 percent of these totals, respectively.  Additionally, Occidental conducts marketing and trading activities with Plains Pipeline for oil and NGLs.  These transactions are reported in Occidental’s income statement on a net margin basis.  The sales amounts above include the net margins on such transactions, which were negligible.