INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2018

INVESTMENTS AND RELATED-PARTY TRANSACTIONS

Summarized financial information of equity-method investments

The following table presents Occidental’s interest in the summarized financial information of its equity-method investments:

For the years ended December 31, (in millions)	2018		2017		2016
Revenues and other income	$	1,932	$	1,252	$	1,238
Costs and expenses	1,527		973		1,043
Net income	$	405	$	279	$	195
As of December 31, (in millions)	2018		2017
Current assets	$	547	$	602
Non-current assets	$	2,139	$	2,072
Current liabilities	$	237	$	247
Long-term debt	$	1,042	$	1,174
Other non-current liabilities	$	22	$	66
Stockholders’ equity	$	1,385	$	1,187

Summary of related-party transactions

During 2018, 2017 and 2016, Occidental entered into the following related-party transactions and had the following amounts due from or to its related parties:

For the years ended December 31, (in millions)	2018		2017		2016
Sales (a)	$	805	$	636	$	602
Purchases (b)	$	502	$	387	$	7
Services	$	52	$	38	$	17
Advances and amounts due from	$	63	$	63	$	59
Amounts due to	$	46	$	45	$	—

(a) In 2018, 2017 and 2016, sales of Occidental-produced oil and NGL to Plains Pipeline affiliates accounted for 89 percent, 86 percent and 89 percent of these totals, respectively. Sales to Plains Pipeline affiliates related to Occidental's oil and gas production are disclosed above. In addition to these sales, Occidental conducts marketing activities with Plains Pipeline affiliates for oil, NGL and transportation. Net margins associated with these marketing activities are negligible.

(b) In 2018, purchases of ethylene from the Ingleside ethylene cracker accounted for 98 percent of related-party purchases.