Revenue Recognition

Revenue from customers is recognized when obligations under the terms of a contract with our customers are satisfied; this generally occurs with the delivery of oil, gas, natural gas liquids (NGL), chemicals or services such as transportation. Occidental does not typically receive payment in advance of satisfying its obligations under the terms of its sales contracts with customers; therefore, liabilities related to such payment are immaterial to Occidental. As of March 31, 2019, trade receivables, net, of $5.3 billion represent rights to payment for which Occidental has satisfied its obligations under a contract and its right to payment is conditioned only on the passage of time.

The following table shows a reconciliation of revenue from customers to total net sales (in millions):



For the three months ended March 31,	2019		2018

Revenue from customers	$	3,435	$	3,694
All other revenues ^(a)	569		69
Total net sales	$	4,004	$	3,763

(a) Includes net marketing margin and chemical exchange contracts.

The following table presents Occidental's revenue from customers by segment, product and geographical area. The oil and gas segment typically sells its oil, gas and NGL at the lease or concession area. Chemical revenues are shown by geographic area based on the location of the sale. Excluding net marketing revenue, Midstream revenues are shown by the location of sale (in millions):



For the three months ended March 31, 2019

Revenue by Product	United States			Middle East		Latin America		Other International		Eliminations			Total

Oil and Gas Segment
Oil	$	1,205		$	758	$	135	$	—	$	—		$	2,098
NGL	78			65		—		—		—			143
Gas	47			79		4		—		—			130
Other	(21		)	1		—		—		—			(20		)
Segment Total	$	1,309		$	903	$	139	$	—	$	—		$	2,351

Chemical Segment	$	993		$	—	$	43	$	19	$	—		$	1,055

Midstream Segment
Gas Processing	105			102		—		—		—			207
Power and Other	44			—		—		—		—			44
Segment Total	$	149		$	102	$	—	$	—	$	—		$	251

Eliminations	$	—		$	—	$	—	$	—	$	(222	)	$	(222	)

Consolidated	$	2,451		$	1,005	$	182	$	19	$	(222	)	$	3,435



For the three months ended March 31, 2018

Revenue by Product	United States		Middle East		Latin America		Other International		Eliminations			Total

Oil and Gas Segment
Oil	$	1,247	$	773	$	170	$	—	$	—		$	2,190
NGL	89		51		—		—		—			140
Gas	52		65		4		—		—			121
Other	3		—		—		—		—			3
Segment Total	$	1,391	$	889	$	174	$	—	$	—		$	2,454

Chemical Segment	$	1,049	$	—	$	52	$	21	$	—		$	1,122

Midstream Segment
Gas Processing	137		96		—		—		—			233
Pipelines	94		—		—		—		—			94
Power and Other	25		—		—		—		—			25
Segment Total	$	256	$	96	$	—	$	—	$	—		$	352

Eliminations	$	—	$	—	$	—	$	—	$	(234	)	$	(234	)

Consolidated	$	2,696	$	985	$	226	$	21	$	(234	)	$	3,694