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ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, 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 273 
Pre-closing dividends declared by the Company13
Total Cash Purchase Price$9,386
Total shares of Occidental common stock issued29.6 
Occidental common stock share price$59.38 
Stock portion of purchase price
$1,755 
Total purchase price
$11,141
Schedule of preliminary purchase price
The following table sets forth the allocation of the acquisition consideration. The Company finalized the purchase price allocation during the 12-month period following the acquisition date. Measurement period adjustments recorded were immaterial and did not result in a material impact to the statements of operations.

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 gas11,837 
Amount attributable to assets acquired$12,663
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:$11,141
Schedule of pro forma financial information
The following summarizes the unaudited pro forma condensed financial information of the Company as if the CrownRock Acquisition had occurred on January 1, 2023 for the years ended December 31:
millions, except per-share amounts20242023
Revenues$23,478 $25,676 
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 
Schedule of discontinued operations, net of income taxes
The following table presents the amounts reported in discontinued operations, net of income taxes, for the years ended December 31:

millions202520242023
Revenues and other income
Net Sales$4,368 $4,706 $5,101 
Interest, dividends and other income— (21)(14)
Gains on sales of assets and others, net3 239 — 
Total revenues and other income4,371 4,924 5,087 
Costs and other deductions
Chemical cost of sales3,099 3,027 3,009 
Selling, general and administrative expense119 102 96 
Other operating and non-operating expense383 262 (81)
Depreciation, depletion and amortization342 420 416 
Asset impairments and other charges— 925 — 
Acquisition-related costs22 — — 
Other expense, net16 6 (12)
Total costs and other deductions3,981 4,742 3,428 
Income before income taxes and other items390 182 1,659 
Income from equity investments and other105 103 108 
Income before income taxes 495 285 1,767 
Income tax expense(233)(73)(403)
Income from discontinued operations, net of tax$262 $212 $1,364 

The following table presents a reconciliation of major classes of assets and liabilities classified as held for sale as of December 31:

millions20252024
Assets
Cash and cash equivalents$41 $7 
Trade receivables, net640 687 
Inventories383 339 
Other current assets 112 107 
Total current assets held for sale1,176 1,140 
Investments in unconsolidated entities 475 513 
Property, plant and equipment, net 4,442 3,515 
Operating lease assets 207 182 
Other long-term assets220 220 
Total non-current assets held for sale5,344 4,430 
Total assets held for sale$6,520 $5,570 
Liabilities
Current maturities of long-term debt$6 $— 
Accounts payable410 281 
Accrued liabilities362 382 
Total current liabilities held for sale778 663 
Long-term debt, net41 (1)
Asset retirement obligations126 119 
Other deferred credits and liabilities251 215 
Total non-current liabilities held for sale418 333 
Total liabilities held for sale$1,196 $996 
Schedule of environmental, litigation, tax and other reserves
The following table summarizes the activity of the environmental and litigation reserves related to the retained liabilities and indemnification obligations associated with the chemical business for the years ended December 31:

millions202520242023
Balance - beginning of year$1,711 $798 $828 
Charged to costs and expenses375 1,007 52 
Charged to other accounts53 11 26 
Payments(176)(105)(108)
Balance - end of year (a)
$1,963 $1,711 $798 
(a)     Of these amounts, $116 million, $117 million and $102 million in 2025, 2024 and 2023, respectively, were classified as current.