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INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2016
INVESTMENTS AND RELATED-PARTY TRANSACTIONS  
Summarized financial information of equity-method investments

 

For the years ended December 31, (in millions)

 

2016

 

2015

 

2014

Revenues

 

$
1,238 

 

 

$
1,050 

 

 

$
3,090 

 

Costs and expenses

 
1,043 

 

 
827 

 

 
2,774 

 

Net income

 

$
195 

 

 

$
223 

 

 

$
316 

 

 

 

 

 

 

 

 

As of December 31, (in millions)

 

2016

 

2015

 

 

Current assets

 

$
914 

 

 

$
896 

 

 

 

Non-current assets

 

$
3,605 

 

 

$
3,589 

 

 

 

Current liabilities

 

$
577 

 

 

$
536 

 

 

 

Long-term debt

 

$
1,957 

 

 

$
2,141 

 

 

 

Other non-current liabilities

 

$
159 

 

 

$
149 

 

 

 

Stockholders’ equity

 

$
1,826 

 

 

$
1,659 

 

 

 

 

Related-party transactions

 

For the years ended December 31, (in millions)

 

2016

 

2015

 

2014

Sales (a)

 

$
602 

 

 

$
555 

 

 

$
835 

 

Purchases

 

$
7 

 

 

$
26 

 

 

$
6 

 

Services

 

$
17 

 

 

$
32 

 

 

$
27 

 

Advances and amounts due from

 

$
59 

 

 

$
60 

 

 

$
26 

 

Amounts due to

 

$

—

 

 

$
5 

 

 

$
15 

 

(a)

In 2016, 2015 and 2014, sales of Occidental-produced oil and NGLs to Plains Pipeline accounted for 89 percent, 87 percent and 46 percent of these totals, respectively. Sales to Plains Pipeline related to Occidental's oil and gas production are disclosed above. In addition to these sales, Occidental conducts marketing activities with Plains Pipeline for oil, NGLs and transportation.  Net margins associated with these marketing activities are negligible.