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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
CASH FLOW FROM OPERATING ACTIVITIES      
Net income (loss) $ (522) $ 4,131 $ 1,311
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Discontinued operations, net 15 0 0
Depreciation, depletion and amortization of assets 5,981 3,977 4,002
Deferred income tax (benefit) provision (1,027) 371 (719)
Other noncash charges to income 940 34 219
Asset impairments and other charges 1,328 561 545
Gain on sales of equity investments and other assets, net (622) (974) (667)
Undistributed earnings from affiliates (50) (43) (68)
Dry hole expense 89 56 51
Increase in receivables      
Increase in receivables (44) (740) (158)
Decrease (increase) in inventories 77 (108) (349)
Decrease in other current assets 186 94 39
(Decrease) increase in accounts payable and accrued liabilities 793 195 (89)
Increase in current domestic and foreign income taxes 59 38 64
Other operating, net 0 77 680
Operating cash flow from continuing operations 7,203 7,669 4,861
Operating cash flow from discontinued operations, net of taxes 172 0 0
Net cash provided by operating activities 7,375 7,669 4,861
Capital expenditures      
Capital expenditures (6,355) (4,975) (3,599)
Change in capital accrual (282) 55 122
Purchase of businesses and assets, net (28,088) (928) (1,064)
Proceeds from sale of assets and equity investments, net 6,143 2,824 1,403
Equity investments and other, net (291) (182) 59
Investing cash flow from continuing operations (28,873) (3,206) (3,079)
Investing cash flow from discontinued operations (154) 0 0
Net cash used by investing activities (29,027) (3,206) (3,079)
Proceeds from long-term debt, net - Occidental      
Proceeds from long-term debt, net 21,557 978 0
Proceeds from issuance of common and preferred stock 10,028 33 28
Purchases of treasury stock (237) (1,248) (25)
Cash dividends paid (2,624) (2,374) (2,346)
Distributions to noncontrolling interest (257) 0 0
Other financing, net 229 9 0
Financing cash flow from continuing operations 22,196 (3,102) (2,343)
Financing cash flow from discontinued operations (3) 0 0
Net cash provided (used) by financing activities 22,193 (3,102) (2,343)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents 541 1,361 (561)
Cash and cash equivalents — beginning of year 3,033 1,672 2,233
Cash, cash equivalents, restricted cash and restricted cash equivalents — end of year 3,574 3,033 1,672
WES      
Proceeds from long-term debt, net - Occidental      
Proceeds from long-term debt, net 1,459 0 0
Payments of long-term debt, net (1,000) 0 0
Occidental      
Proceeds from long-term debt, net - Occidental      
Payments of long-term debt, net $ (6,959) $ (500) $ 0