Revenue

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue

NOTE 2 - 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, NGL, gas, chemicals or services, such as transportation. As of March 31, 2022, trade receivables, net, of $5.4 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 for the three months ended March 31, 2022 and 2021:

	Three months ended March 31,
millions	2022		2021
Revenue from customers	$	8,213	$	5,184
All other revenues (a)	136		109
Net sales	$	8,349	$	5,293

(a)    Includes net marketing derivatives, collars and calls and chemical exchange contracts in 2021 and the same in 2022 with the exception of the collars and calls which expired on or before December 31, 2021.

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		International		Eliminations		Total
Three months ended March 31, 2022
Oil and gas
Oil	$	4,048	$	751	$	—	$	4,799
NGL	698		62		—		760
Gas	455		58		—		513
Other	2		1		—		3
Segment total	$	5,203	$	872	$	—	$	6,075
Chemical	$	1,602	$	81	$	—	$	1,683
Midstream and marketing	$	648	$	99	$	—	$	747
Eliminations	$	—	$	—	$	(292)	$	(292)
Consolidated	$	7,453	$	1,052	$	(292)	$	8,213

            

millions	United States		International		Eliminations		Total
Three months ended March 31, 2021
Oil and gas
Oil	$	2,464	$	549	$	—	$	3,013
NGL	384		52		—		436
Gas	253		64		—		317
Other	(31)		—		—		(31)
Segment total	$	3,070	$	665	$	—	$	3,735
Chemical	$	1,037	$	50	$	—	$	1,087
Midstream and marketing	$	497	$	131	$	—	$	628
Eliminations	$	—	$	—	$	(266)	$	(266)
Consolidated	$	4,604	$	846	$	(266)	$	5,184