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ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of purchase consideration The following table summarizes the cash and common stock components of the purchase price:
in millions of dollars and shares (except per-share price)Total
Cash portion of purchase price
$9,100 
Closing Adjustments
Net Working Capital and Other Purchase Price Adjustments 254 
Pre-closing dividends declared by Occidental13
Total Cash Purchase Price$9,367
Total shares of Occidental common stock issued
29.6 
Occidental common stock share price
$59.38 
Stock portion of purchase price
$1,755 
Total purchase price
$11,122
Schedule of preliminary purchase price
The following table sets forth the preliminary allocation of the acquisition consideration. Certain data necessary to complete the purchase price allocation is not yet available, including, but not limited to, final appraisals of PP&E. Occidental will finalize the purchase price allocation during the 12-month period following the acquisition date, during which time the value of the assets and liabilities may be revised as appropriate.

in millions
August 1, 2024
Fair value of assets acquired:
Cash and cash equivalents$589 
Trade receivables, net198 
Other current assets39 
Property, plant and equipment, oil and gas11,818 
Amount attributable to assets acquired$12,644
Fair value of liabilities acquired:
Current maturities of long-term debt$868 
Accounts payable207 
Accrued liabilities22 
Long-term debt378 
Asset retirement obligations47 
Amount attributable to liabilities acquired$1,522 
Fair value of net assets acquired:$11,122
Occidental allocated the preliminary purchase price to the fair value of Carbon Engineering’s assets as follows:

millions
2023
Fair value of assets acquired:
Cash and other current assets
$154 
Property, plant and equipment
11 
Intangible assets related to developed technology
845 
Goodwill
668 
Total fair value of assets acquired
$1,678 
Fair value of liabilities acquired:
Liabilities acquired
110 
Deferred tax liability
190 
Total liabilities assumed
$300 
Fair value of previously held interest
371 
 Total acquisition consideration
$1,007 
Schedule of pro forma financial information
The following summarizes the unaudited pro forma condensed financial information of Occidental as if the CrownRock Acquisition had occurred on January 1, 2023:
Years ended
millions, except per-share amounts20242023
Revenues$28,184 $30,777 
Net income attributable to common stockholders$2,713 $4,197 
Net income attributable to common stockholders per share—basic$2.90 $4.54 
Net income attributable to common stockholders per share—diluted$2.74 $4.21