Revenue

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue

NOTE 4 - REVENUE

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, natural gas liquids (NGL), gas, chemicals or services, such as transportation. As of March 31, 2020, trade receivables, net, of $2.5 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:

	Three months ended March 31,
millions	2020		2019
Revenue from customers	$	5,047	$	3,435
All other revenues (a)	1,363		569
Net sales	$	6,410	$	4,004

^(a) Includes net marketing derivatives, oil collars and calls, and chemical exchange contracts.

DISAGGREGATION OF REVENUE FROM CONTRACTS WITH CUSTOMERS

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

millions	United States		Middle East		Latin America		Other International		Eliminations		Total
Three months ended March 31, 2020
Oil and Gas
Oil	$	2,755	$	447	$	149	$	—	$	—	$	3,351
NGL	213		55		—		—		—		268
Gas	183		80		5		—		—		268
Other	11		—		—		—		—		11
Segment total	$	3,162	$	582	$	154	$	—	$	—	$	3,898
Chemical	$	910	$	—	$	35	$	16	$	—	$	961
Midstream and Marketing
Gas processing	$	105	$	71	$	—	$	—	$	—	$	176
Marketing	246		—		—		(51)		—		195
Power and other	16		—		—		—		—		16
Segment total	$	367	$	71	$	—	$	(51)	$	—	$	387
Eliminations	$	—	$	—	$	—	$	—	$	(199)	$	(199)
Consolidated	$	4,439	$	653	$	189	$	(35)	$	(199)	$	5,047

millions	United States		Middle East		Latin America		Other International		Eliminations		Total
Three months ended March 31, 2019
Oil and Gas
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	$	993	$	—	$	43	$	19	$	—	$	1,055
Midstream and Marketing
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

TRANSACTION PRICE ALLOCATED TO REMAINING PERFORMANCE OBLIGATIONS

Revenue expected to be recognized from certain performance obligations that are unsatisfied as of March 31, 2020, is reflected in the table below. Occidental applies the optional exemptions in ASU 2014-09 Revenue from Contracts with Customers (Topic 606) and does not disclose consideration for remaining performance obligations with an original expected duration of one year or less or for variable consideration related to unsatisfied performance obligations. As a result, the following table represents a small portion of Occidental's expected future consolidated revenues, as future revenue from the sale of most products and services is dependent on future production or variable customer volume and variable commodity prices for that volume:

millions
Remainder of 2020	$	92
2021	111
2022	9
2023	9
2024	9
Thereafter	85
Total	$	315