Industry Segments (Tables)

6 Months Ended

Jun. 30, 2016

Industry Segments

Industry segment and corporate disclosures

The following tables present Occidental’s industry segments (in millions):

	Oil					Midstream			Corporate
	and					and			and
	Gas			Chemical		Marketing			Eliminations				Total
Three months ended June 30, 2016
Net sales	$	1,625		$	908	$	141		$	(143	)		$	2,531
Pre-tax operating profit (loss)	$	(117	)	$	88	$	(58	)	$	(145	)	(a)	$	(232	)
Income taxes	—			—		—			96			(b)	96
Discontinued operations, net	—			—		—			(3		)		(3		)
Net income (loss)	$	(117	)	$	88	$	(58	)	$	(52	)		$	(139	)
Three months ended June 30, 2015
Net sales	$	2,342		$	1,030	$	294		$	(197	)		$	3,469
Pre-tax operating profit (loss)	$	355		$	136	$	87		$	(74	)	(a)	$	504
Income taxes	—			—		—			(324		)	(b)	(324		)
Discontinued operations, net	—			—		—			(4		)		(4		)
Net income (loss)	$	355		$	136	$	87		$	(402	)		$	176

	Oil						Midstream			Corporate
	and						and			and
	Gas				Chemical		Marketing			Eliminations				Total
Six months ended June 30, 2016
Net sales	$	2,900			$	1,798	$	274		$	(318	)		$	4,654
Pre-tax operating profit (loss)	$	(602	)		$	302	$	(153	)	$	(342	)	(a)	$	(795	)
Income taxes	—				—		—			299			(b)	299
Discontinued operations, net	—				—		—			435				435
Net income (loss)	$	(602	)		$	302	$	(153	)	$	392			$	(61	)
Six months ended June 30, 2015
Net sales	$	4,351			$	2,030	$	491		$	(314	)		$	6,558
Pre-tax operating profit (loss)	$	89		(c)	$	275	$	72		$	(166	)	(a,c)	$	270
Income taxes	—				—		—			(305		)	(b)	(305		)
Discontinued operations, net	—				—		—			(7		)		(7		)
Net income (loss)	$	89			$	275	$	72		$	(478	)		$	(42	)

(a)Includes unallocated net interest expense, administration expense, environmental remediation and other pre-tax items.

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

(c)Includes pre-tax charges of $310 million for the impairment of certain domestic and international oil and gas assets and other items and $14 million of corporate other items.