DOMESTIC AND FOREIGN INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

DOMESTIC AND FOREIGN INCOME TAXES

Schedule of domestic and foreign components of income (loss) from continuing operations before domestic and foreign income taxes

For the years ended December 31, (in millions)	Domestic		Foreign		Total
2017	$	(609)	$	1,937	$	1,328
2016	$	(2,698)	$	1,034	$	(1,664)
2015	$	(5,810)	$	(3,666)	$	(9,476)

Schedule of provisions (credits) for domestic and foreign income taxes on continuing operations

For the years ended December 31, (in millions)	United StatesFederal		State and Local		Foreign		Total
2017
Current	$	(81)	$	11	$	806	$	736
Deferred	(856)		23		114		(719)
	$	(937)	$	34	$	920	$	17
2016
Current	$	(784)	$	9	$	630	$	(145)
Deferred	(504)		(19)		6		(517)
	$	(1,288)	$	(10)	$	636	$	(662)
2015
Current	$	(810)	$	(31)	$	883	$	42
Deferred	(1,146)		(83)		(143)		(1,372)
	$	(1,956)	$	(114)	$	740	$	(1,330)

Schedule of reconciliation of the United States federal statutory income tax rate to Occidental's worldwide effective tax rate on income from continuing operations stated as a percentage of pre-tax income

For the years ended December 31,	2017	2016	2015
United States federal statutory tax rate	35%	35%	35%
Other than temporary loss on available for sale investment in California Resources stock	—	(2)	(1)
Enhanced oil recovery credit	(9)	5	—
Tax benefit due to write off of exploration blocks	—	14	—
Change in federal income tax rate	(44)	—	—
Tax expense due to reversal of indefinite reinvestment assertion	7	—	—
Operations outside the United States	12	(14)	(21)
State income taxes, net of federal benefit	2	—	1
Other	(2)	2	—
Worldwide effective tax rate	1%	40%	14%

Schedule of tax effects of temporary differences resulting in deferred income taxes

	2017				2016
Tax effects of temporary differences (in millions)	Deferred Tax Assets		Deferred Tax Liabilities		Deferred Tax Assets		Deferred Tax Liabilities
Property, plant and equipment differences	$	—	$	2,272	$	—	$	3,345
Equity investments, partnerships and foreign subsidiaries	—		134		—		58
Environmental reserves	191		—		314		—
Postretirement benefit accruals	145		—		342		—
Deferred compensation and benefits	151		—		222		—
Asset retirement obligations	228		—		406		—
Foreign tax credit carryforwards	2,750		—		2,046		—
Corporate alternative minimum tax credit carryforwards	—		—		226		—
General business credit carryforwards	407		—		186		—
Net operating loss carryforward	437		—		—		—
Federal benefit of state income taxes	10		—		8		—
All other	146		—		370		—
Subtotal	4,465		2,406		4,120		3,403
Valuation allowance	(2,640)		—		(1,849)		—
Total deferred taxes	$	1,825	$	2,406	$	2,271	$	3,403

Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits

For the years ended December 31, (in millions)	2017		2016		2015
Balance at January 1,	$	22	$	22	$	61
Reductions based on tax positions related to prior years and settlements	—		—		(39)
Balance at December 31,	$	22	$	22	$	22