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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOW FROM OPERATING ACTIVITIES      
Net income (loss) $ 13,304 $ 2,322 $ (14,831)
Adjustments to reconcile net income (loss) to net cash from operating activities:      
Discontinued operations, net 0 468 1,298
Depreciation, depletion and amortization of assets 6,926 8,447 8,097
Deferred income tax provision (benefit) (1,644) 46 (2,517)
Noncash charges (benefit) to income and other (8) 229 419
Asset impairments and other charges 0 304 11,002
(Gain) loss on sales of equity investments and other assets, net (308) (192) 1,666
Undistributed earnings from affiliates (219) (70) (61)
Dry hole expense 84 125 47
Changes in operating assets and liabilities:      
(Increase) decrease in receivables (97) (2,086) 2,062
(Increase) decrease in inventories (230) (86) (484)
(Increase) decrease in other current assets (335) (119) 350
Increase (decrease) in accounts payable and accrued liabilities (478) 865 (3,228)
Increase (decrease) in current domestic and foreign income taxes (185) 0 22
Operating cash flow from continuing operations 16,810 10,253 3,842
Operating cash flow from discontinued operations, net of taxes 0 181 113
Net cash provided by operating activities 16,810 10,434 3,955
CASH FLOW FROM INVESTING ACTIVITIES      
Capital expenditures (4,497) (2,870) (2,535)
Change in capital accrual 147 97 (519)
Purchase of businesses, assets and equity investments, net (990) (431) (114)
Proceeds from sale of assets and equity investments, net 584 1,624 2,281
Equity investments and other, net (116) 406 109
Investing cash flow from continuing operations (4,872) (1,174) (778)
Investing cash flow from discontinued operations 0 (79) (41)
Net cash used by investing activities (4,872) (1,253) (819)
CASH FLOW FROM FINANCING ACTIVITIES      
Proceeds from issuance of common stock 293 31 134
Purchases of treasury stock (3,099) (8) (12)
Cash dividends paid on common and preferred stock (1,184) (839) (1,845)
Payment of liabilities associated with the sale of future royalties 0 0 (386)
Financing portion of net cash paid for derivative instruments (111) (834) (362)
Other financing, net (130) (80) (57)
Financing cash flow from continuing operations (13,715) (8,564) (4,508)
Financing cash flow from discontinued operations 0 (8) (8)
Net cash used by financing activities (13,715) (8,572) (4,516)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents (1,777) 609 (1,380)
Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of year 2,803 2,194 3,574
Cash, cash equivalents, restricted cash and restricted cash equivalents — end of year 1,026 2,803 2,194
Occidental      
CASH FLOW FROM FINANCING ACTIVITIES      
Draws on receivables securitization facility 400 0 0
Payment of receivables securitization facility (400) 0 0
Proceeds from long-term debt, net 0 0 6,936
Payments of long-term debt, net $ (9,484) $ (6,834) $ (8,916)