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LEASE COMMITMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of operating lease maturities
The following summarizes maturities of lease liabilities as of December 31, 2024:

millions
Operating Leases (a)
Finance Leases (b)
Total
2025$410 $172 $582 
2026264 161 425 
2027136 145 281 
202876 115 191 
202958 82 140 
Thereafter137 265 402 
Total lease payments1,081 940 2,021 
Less: Discount(93)(147)(240)
Total lease liabilities$988 $793 $1,781 
(a)The weighted-average remaining lease term is 4.0 years and the weighted-average discount rate is 4.77%.
(b)The weighted-average remaining lease term is 5.7 years and the weighted-average discount rate is 4.80%.
Schedule of finance lease maturities
The following summarizes maturities of lease liabilities as of December 31, 2024:

millions
Operating Leases (a)
Finance Leases (b)
Total
2025$410 $172 $582 
2026264 161 425 
2027136 145 281 
202876 115 191 
202958 82 140 
Thereafter137 265 402 
Total lease payments1,081 940 2,021 
Less: Discount(93)(147)(240)
Total lease liabilities$988 $793 $1,781 
(a)The weighted-average remaining lease term is 4.0 years and the weighted-average discount rate is 4.77%.
(b)The weighted-average remaining lease term is 5.7 years and the weighted-average discount rate is 4.80%.
Schedule of lease costs
The following tables present Occidental’s total lease cost and other information for operating and finance lease liabilities for the years ended December 31:

millions20242023
Lease Cost
Finance lease cost:
Amortization of right-of-use assets$152 $126 
Interest on lease liabilities36 27 
Operating lease cost518 398 
Short-term lease cost367 460 
Total lease cost$1,073 $1,011 
millions20242023
Cash payments related to leases
Operating cash flows from finance leases$34 $27 
Operating cash flows from operating leases$298 $198 
Investing cash flows from operating leases$209 $183 
Financing cash flows from finance leases$137 $105 
Changes in Right-of-Use assets
Right-of-use assets obtained in exchange for new finance lease liabilities $195 $226 
Right-of-use assets obtained in exchange for new operating lease liabilities $316 $630