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INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2015
INVESTMENTS AND RELATED-PARTY TRANSACTIONS  
Summarized financial information of equity-method investments

 

 

 

 

 

 

 

 

 

 

 

 

For the years ended December 31, (in millions)

 

2015

 

2014

 

2013

 

 

 

 

 

 

 

 

 

Revenues

 

$
1,050

 

$
3,090

 

$
3,373

 

Costs and expenses

 
827

 
2,774

 
2,987

 

 

 

 

 

 

 

 

 

Net income

 

$
223

 

$
316

 

$
386

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, (in millions)

 

2015

 

2014

 

 

 

 

 

 

 

 

 

 

 

Current assets

 

$
896

 

$
1,127

 

 

 

Non-current assets

 

$
3,589

 

$
2,925

 

 

 

Current liabilities

 

$
536

 

$
771

 

 

 

Long-term debt

 

$
2,141

 

$
1,701

 

 

 

Other non-current liabilities

 

$
148

 

$
83

 

 

 

Stockholders’ equity

 

$
1,659

 

$
1,498

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Related-party transactions

 

 

For the years ended December 31, (in millions)

 

2015

 

2014

 

2013

 

 

 

 

 

 

 

 

 

Sales (a)

 

$
555

 

$
835

 

$
663

 

Purchases

 

$
26

 

$
6

 

$

—

 

Services

 

$
32

 

$
27

 

$
30

 

Advances and amounts due from

 

$
60

 

$
26

 

$
67

 

Amounts due to

 

$
5

 

$
15

 

$
3

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

In 2015, 2014 and 2013, sales of Occidental-produced oil and NGLs to Plains Pipeline accounted for 87 percent, 46 percent and 72 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.