Industry Segments (Tables)

3 Months Ended

Mar. 31, 2020

The following table presents Occidental’s industry segments:


millions	Oil and Gas			Chemical		Midstream and Marketing			Corporate and Eliminations			Total
Three months ended March 31, 2020
Net sales	$	4,857		$	962	$	790		$	(199)		$	6,410
Income (loss) from continuing operations before income taxes	$	179	^(a)	$	186	$	(1,287)	^(b)	$	(1,173)	^(c)	$	(2,095)
Income tax benefit	—			—		—			82			82
Income (loss) from continuing operations	$	179		$	186	$	(1,287)		$	(1,091)		$	(2,013)

Three months ended March 31, 2019
Net sales	$	2,351		$	1,059	$	816		$	(222)		$	4,004
Income (loss) from continuing operations before income taxes	$	484		$	265	$	279		$	(172)		$	856
Income tax expense	—			—		—			(225)			(225)
Income (loss) from continuing operations	$	484		$	265	$	279		$	(397)		$	631

^(a)Includes $317 million related to domestic asset impairments and other charges, $952 million gain on the oil collars and calls and $264 million related to foreign asset impairments for the three months ended March 31, 2020.

^(b)Includes $1.4 billion impairment related to the write-off of goodwill and a loss from an equity investment related to WES's writeoff of its goodwill for the three months ended March 31, 2020.

^(c)Includes $148 million in expenses related to Anadarko acquisition-related costs, $669 million loss on interest rate swaps and $84 million in warrant gains for the three months ended March 31, 2020.