Industry Segments (Tables)

6 Months Ended

Jun. 30, 2018

Industry Segments

Schedule of industry segments

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, 2018
Net sales	$	2,531		$	1,176	$	603		$	(227)		$	4,083
Pre-tax operating profit (loss)	$	780		$	317	$	250		$	(197)	(a)	$	1,150
Income taxes		—			—		—			(302)	(b)		(302)
Net income (loss)	$	780		$	317	$	250		$	(499)		$	848
Three months ended  June 30, 2017
Net sales	$	1,848		$	1,156	$	270		$	(214)		$	3,060
Pre-tax operating profit (loss)	$	627	(c)	$	230	$	119	(d)	$	(184)	(a)	$	792
Income taxes		—			—		—			(285)	(b)		(285)
Net income (loss)	$	627		$	230	$	119		$	(469)		$	507

		Oil					Midstream			Corporate
		and					and			and
		Gas			Chemical		Marketing			Eliminations			Total
Six months ended June 30, 2018
Net sales	$	4,985		$	2,330	$	992		$	(461)		$	7,846
Pre-tax operating profit (loss)	$	1,530		$	615	$	429		$	(377)	(a)	$	2,197
Income taxes		—			—		—			(641)	(b)		(641)
Net income (loss)	$	1,530		$	615	$	429		$	(1,018)		$	1,556
Six months ended June 30, 2017
Net sales	$	3,742		$	2,224	$	481		$	(430)		$	6,017
Pre-tax operating profit (loss)	$	847	(c)	$	400	$	72	(d)	$	(332)	(a)	$	987
Income taxes		—			—		—			(363)	(b)		(363)
Net income (loss)	$	847		$	400	$	72		$	(695)		$	624

(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 gain on sale of domestic oil and gas assets, including South Texas, of $510 million.

(d) Includes a non-cash fair value gain of $94 million on the Plains equity investment.