EX-99 5 ex993-20070125.htm EXHIBIT 99.3 Exhibit 99.3

EXHIBIT 99.3

Investor Relations Supplemental Schedules

Investor Relations Supplemental Schedules
Summary

($ millions)

   

4Q 2006

  

4Q 2005

Reported Net Income

  

$

928

  

$

1,152

EPS - Diluted

  

$

1.09

  

$

1.40

Core Net Income

  

$

835

  

$

1,116

EPS - Diluted

  

$

0.98

  

$

1.36

Total Worldwide Production (mboe/day)

    

616

    

546

Total Worldwide Crude Oil Realizations ($/BBL)

  

$

51.18

  

$

51.87

Domestic Natural Gas Realizations ($/MCF)

  

$

5.64

  

$

9.81

Wtd. Average Basic Shares O/S (mm)

    

846.4

    

810.9

Wtd. Average Diluted Shares O/S (mm)

    

852.6

    

823.3

   

YTD 2006

  

YTD 2005

Reported Net Income

  

$

4,182

  

$

5,281

EPS - Diluted

  

$

4.86

  

$

6.45

Core Net Income

  

$

4,349

  

$

3,732

EPS - Diluted

  

$

5.05

  

$

4.56

Total Worldwide Production (mboe/day)

    

601

    

526

Total Worldwide Crude Oil Realizations ($/BBL)

  

$

56.57

  

$

49.18

Domestic Natural Gas Realizations ($/MCF)

  

$

6.51

  

$

7.11

Wtd. Average Basic Shares O/S (mm)

    

852.6

    

806.6

Wtd. Average Diluted Shares O/S (mm)

    

860.4

    

818.2

Shares Outstanding (mm)

    

839.9

    

804.2

Cash Flow from Operations

  

$

6,300

  

$

5,300

1

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
2006 Fourth Quarter
Net Income (Loss)
($ millions)

 

   

Reported
Income

  

Significant Items Affecting Income

  

Core
Earnings

  

Oil & Gas

  

$

1,499

  

$

—

      

$

1,499

  

Chemical

    

156

              

156

  

Corporate

                        

Interest expense, net

    

(51

)

  

31

  

Debt purchases

    

(20

)

Other

    

111

    

(90

)

Sale of Lyondell shares

    

(87

)

           

(108

)

Litigation settlements

        

Taxes

    

(794

)

  

40

  

Deferred tax reversal -
compensation programs

    

(713

)

           

41

  

Tax effect of adjustments

        

Income from continuing operations

    

921

    

(86

)

      

835

  

Discontinued operations, net of tax

    

7

    

(7

)

Discontinued operations, net

    

—

  

Net Income

  

$

928

  

$

(93

)

    

$

835

  

Basic Earnings Per Common Share

                        

Income from continuing operations

  

$

1.09

                  

Discontinued operations, net

    

0.01

                  

Net Income

  

$

1.10

            

$

0.99

  

Diluted Earnings Per Common Share

                        

Income from continuing operations

  

$

1.08

                  

Discontinued operations, net

    

0.01

                  

Net Income

  

$

1.09

            

$

0.98

  

2

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
2005 Fourth Quarter
Net Income (Loss)
($ millions)

   

Reported
Income

  

Significant Items Affecting Income

  

Core
Earnings

  

Oil & Gas

  

$

1,796

  

$

9

  

Hurricane insurance charge

  

$

1,805

  

Chemical

    

165

    

6

  

Hurricane insurance charge

    

171

  

Corporate

                        

Interest expense, net

    

(23

)

  

1

  

Debt purchase expense

    

(22

)

Other

    

(89

)

            

(89

)

Taxes

    

(743

)

  

(6

)

Tax effect of adjustments

    

(749

)

                         
 

Income from continuing operations

    

1,106

    

10

        

1,116

  

Discontinued operations, net of tax

    

46

    

(46

)

Discontinued operations, net

    

—

  

Net Income

  

$

1,152

  

$

(36

)

    

$

1,116

  

Basic Earnings Per Common Share

                        

Income from continuing operations

  

$

1.36

                  

Discontinued operations, net of tax

    

0.06

                  

Net Income

  

$

1.42

            

$

1.38

  

Diluted Earnings Per Common Share

                        

Income from continuing operations

  

$

1.34

                  

Discontinued operations, net of tax

    

0.06

                  

Net Income

  

$

1.40

            

$

1.36

  

3

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
2006 Twelve Months
Net Income (Loss)
($ millions)

   

Reported
Income

  

Significant Items Affecting Income

  

Core
Earnings

  

Oil & Gas

  

$

7,239

  

$

—

      

$

7,239

  

Chemical

    

901

              

901

  

Corporate

                        

Interest expense, net

    

(131

)

  

31

  

Debt purchases

    

(100

)

Other

    

(108

)

  

(90

)

Sale of Lyondell shares

    

(306

)

           

(108

)

Litigation settlements

        

Taxes

    

(3,466

)

  

40

  

Deferred tax reversal -
compensation programs

    

(3,385

)

           

41

  

Tax effect of adjustments

        

Income from continuing operations

    

4,435

    

(86

)

      

4,349

  

Discontinued operations, net of tax

    

(253

)

  

253

  

Discontinued operations, net

    

—

  

Net Income

  

$

4,182

  

$

167

      

$

4,349

  

Basic Earnings Per Common Share

                        

Income from continuing operations

  

$

5.20

                  

Discontinued operations, net

    

(0.30

)

                

Net Income

  

$

4.90

            

$

5.10

  

Diluted Earnings Per Common Share

                        

Income from continuing operations

  

$

5.15

                  

Discontinued operations, net

    

(0.29

)

                

Net Income

  

$

4.86

            

$

5.05

  

4

Investor Relations Supplemental Schedules

 

OCCIDENTAL PETROLEUM
2005 Twelve Months
Net Income (Loss)
($ millions)

   

Reported
Income

  

Significant Items Affecting Income

  

Core
Earnings

  

Oil & Gas

  

$

5,968

  

$

26

  

Contract settlement

  

$

6,012

  
           

18

  

Hurricane insurance charge

        

Chemical

    

607

    

159

  

Write-off of plants

    

777

  
           

11

  

Hurricane insurance charge

        

Corporate

                        

Interest expense, net

    

(201

)

  

42

  

Debt purchase expense

    

(159

)

Other

    

593

    

(140

)

Sale of Lyondell shares

    

(246

)

           

(726

)

Sale of Premcor-Valero shares

        
           

10

  

Hurricane insurance charge

        
           

15

  

Equity investment impairment

        
           

2

  

Equity investment hurricane
insurance charge

        

Taxes

    

(1,927

)

  

(619

)

Settlement of federal tax issue

    

(2,652

)

           

(335

)

Tax reserves

        
           

10

  

State tax issue

        
           

219

  

Tax effect of adjustments

        

Income from continuing operations

    

5,040

    

(1,308

)

      

3,732

  

Discontinued operations, net of tax

    

238

    

(238

)

Discontinued operations, net

    

—

  

Change in accounting principles, net

    

3

    

(3

)

Change in accounting principles

    

—

  

Net Income

  

$

5,281

  

$

(1,549

)

    

$

3,732

  

Basic Earnings Per Common Share

                        

Income from continuing operations

  

$

6.25

                  

Discontinued operations, net of tax

    

0.30

                  

Net Income

  

$

6.55

            

$

4.63

  

Diluted Earnings Per Common Share

                        

Income from continuing operations

  

$

6.16

                  

Discontinued operations, net of tax

    

0.29

                  

Net Income

  

$

6.45

            

$

4.56

  

5

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
Items Affecting Comparability of Core Earnings Between Periods

The item(s) below are included in core earnings but are shown in this table because they affect the comparability of core earnings between periods.

Pre-tax
Income / (Expense)

Fourth Quarter

  

Twelve Months

  

 

2006

  

2005

  

2006

  

2005

  

Corporate

                

Environmental remediation

(23

)

(33

)

(47

)

(62

)

6

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
Worldwide Effective Tax Rate

 

 

QUARTERLY

  

YEAR TO-DATE

  

REPORTED INCOME

2006
QTR 4

  

2006
QTR 3

  

2005
QTR 4

  

2006
12 Months

  

2005
12 Months

  

Oil & Gas (a)

1,499

  

1,877

  

1,796

  

7,239

  

5,968

  

Chemicals

156

  

247

  

165

  

901

  

607

  

Corporate & other

60

  

(80

)

(112

)

(239

)

392

  

Pre-tax income

1,715

  

2,044

  

1,849

  

7,901

  

6,967

  

Income tax expense

                    

Federal and state

392

  

435

  

392

  

1,713

  

665

  

Foreign (a)

402

  

450

  

351

  

1,753

  

1,262

  

Total

794

  

885

  

743

  

3,466

  

1,927

  
                     

Income from continuing operations

921

  

1,159

  

1,106

  

4,435

  

5,040

  

Worldwide effective tax rate

46%

  

43%

  

40%

  

44%

  

28%

  

CORE INCOME

2006
QTR 4

  

2006
QTR 3

  

2005
QTR 4

  

2006
12 Months

  

2005
12 Months

  

Oil & Gas (a)

1,499

  

1,877

  

1,805

  

7,239

  

6,012

  

Chemicals

156

  

247

  

171

  

901

  

777

  

Corporate & other

(107

)

(80

)

(111

)

(406

)

(405

)

Pre-tax income

1,548

  

2,044

  

1,865

  

7,734

  

6,384

  

Income tax expense

                    

Federal and state

311

  

435

  

398

  

1,632

  

1,390

  

Foreign (a)

402

  

450

  

351

  

1,753

  

1,262

  

Total

713

  

885

  

749

  

3,385

  

2,652

  
                     

Core income

835

  

1,159

  

1,116

  

4,349

  

3,732

  

Worldwide effective tax rate

46%

  

43%

  

40%

  

44%

  

42%

  

(a) Revenues and income tax expense include taxes owed by Occidental but paid by governmental entities on its behalf. Oil and gas pre-tax income includes the following revenue amounts by periods.

 

2006
QTR 4

  

2006
QTR 3

  

2005
QTR 4

  

2006
12 Months

  

2005
12 Months

  
 

252

  

299

  

211

  

1,123

  

887

  

7

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
2006 Fourth Quarter Net Income (Loss)
Reported Income Comparison

   

Fourth
Quarter
2006

  

Third
Quarter
2006

  

B / (W)

  

Oil & Gas

  

$

1,499

  

$

1,877

  

$

(378

)

Chemical

    

156

    

247

    

(91

)

Corporate

                    

Interest expense, net

    

(51

)

  

(18

)

  

(33

)

Other

    

111

    

(62

)

  

173

  

Taxes

    

(794

)

  

(885

)

  

91

  

Income from continuing operations

    

921

    

1,159

    

(238

)

Discontinued operations, net

    

7

    

9

    

(2

)

Net Income

  

$

928

  

$

1,168

  

$

(240

)

Earnings Per Common Share

                    

Basic

  

$

1.10

  

$

1.37

  

$

(0.27

)

Diluted

  

$

1.09

  

$

1.36

  

$

(0.27

)

Worldwide Effective Tax Rate

    

46%

    

43%

    

-3%

  

 

OCCIDENTAL PETROLEUM
2006 Fourth Quarter Net Income (Loss)
Core Earnings Comparison

   

Fourth
Quarter
2006

  

Third
Quarter
2006

  

B / (W)

  

Oil & Gas

  

$

1,499

  

$

1,877

  

$

(378

)

Chemical

    

156

    

247

    

(91

)

Corporate

                    

Interest expense, net

    

(20

)

  

(18

)

  

(2

)

Other

    

(87

)

  

(62

)

  

(25

)

Taxes

    

(713

)

  

(885

)

  

172

  

Net Income

  

$

835

  

$

1,159

  

$

(324

)

Core Earnings Per Common Share

                    

Basic

  

$

0.99

  

$

1.36

  

$

(0.37

)

Diluted

  

$

0.98

  

$

1.35

  

$

(0.37

)

Worldwide Effective Tax Rate

    

46%

    

43%

    

-3%

  

8

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
Oil & Gas
Core Earnings Variance Analysis 4Q06 vs. 3Q06
($ millions)

[the following is a tabular representation of graphical materials]

2006 4th Quarter

  

$

1,499

    

2006 3rd Quarter

    

1,877

    
   

$

(378

)

  

Sales Price

  

$

(439

)

  

Sales Volume/Mix

    

118

    

Exploration Expense

    

(26

)

  

All Others *

    

(31

)

  

TOTAL VARIANCE

  

$

(378

)

  

*DD&A rate increase (16) and higher operating expenses

 

OCCIDENTAL PETROLEUM
Chemical
Core Earnings Variance Analysis 4Q06 vs. 3Q06
($ millions)

[the following is a tabular representation of graphical materials]

2006 4th Quarter

  

$

156

    

2006 3rd Quarter

    

247

    
   

$

(91

)

  

Sales Price

    

(48

)

  
           

Sales Volume/Mix

    

(50

)

  
           

Operations/Manufacturing

    

15

    
           

All Others

    

(8

)

  

TOTAL VARIANCE

  

$

(91

)

  

9

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
2006 Fourth Quarter Net Income (Loss)
Reported Income Comparison

   

Fourth
Quarter
2006

  

Fourth
Quarter
2005

  

B / (W)

  

Oil & Gas

  

$

1,499

  

$

1,796

  

$

(297

)

Chemical

    

156

    

165

    

(9

)

Corporate

                    

Interest expense, net

    

(51

)

  

(23

)

  

(28

)

Other

    

111

    

(89

)

  

200

  

Taxes

    

(794

)

  

(743

)

  

(51

)

Income from continuing operations

    

921

    

1,106

    

(185

)

Discontinued operations, net

    

7

    

46

    

(39

)

Net Income

  

$

928

  

$

1,152

  

$

(224

)

Earnings Per Common Share

                    

Basic

  

$

1.10

  

$

1.42

  

$

(0.32

)

Diluted

  

$

1.09

  

$

1.40

  

$

(0.31

)

Worldwide Effective Tax Rate

    

46%

    

40%

    

-6%

  

 

OCCIDENTAL PETROLEUM
2006 Fourth Quarter Net Income (Loss)
Core Earnings Comparison

   

Fourth
Quarter
2006

  

Fourth
Quarter
2005

  

B / (W)

  

Oil & Gas

  

$

1,499

  

$

1,805

  

$

(306

)

Chemical

    

156

    

171

    

(15

)

Corporate

                    

Interest expense, net

    

(20

)

  

(22

)

  

2

  

Other

    

(87

)

  

(89

)

  

2

  

Taxes

    

(713

)

  

(749

)

  

36

  

Net Income

  

$

835

  

$

1,116

  

$

(281

)

Core Earnings Per Common Share

                    

Basic

  

$

0.99

  

$

1.38

  

$

(0.39

)

Diluted

  

$

0.98

  

$

1.36

  

$

(0.38

)

Worldwide Effective Tax Rate

    

46%

    

40%

    

-6%

  

10

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
Oil & Gas
Core Earnings Variance Analysis 4Q06 vs. 4Q05
($ millions)

[the following is a tabular representation of graphical materials]

2006 4th Quarter

  

$

1,499

    

2005 4th Quarter

    

1,805

    
   

$

(306

)

  

Sales Price

  

$

(276

)

  

Sales Volume/Mix

    

88

    

Exploration Expense

    

18

    
           

All Others *

    

(136

)

  

TOTAL VARIANCE

  

$

(306

)

  

*DD&A rate increase (60) and higher operating expenses

 

OCCIDENTAL PETROLEUM
Chemical
Core Earnings Variance Analysis 4Q06 vs. 4Q05
($ millions)

[the following is a tabular representation of graphical materials]

2006 4th Quarter

  

$

156

    

2005 4th Quarter

    

171

    
   

$

(15

)

  

Sales Price

  

$

(96

)

  

Sales Volume/Mix

    

(52

)

  
           

Operations/Manufacturing

    

148

  

*

           

All Others

    

(15

)

  

TOTAL VARIANCE

  

$

(15

)

  

* Lower feedstock and engery costs

11

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
SUMMARY OF OPERATING STATISTICS

   

Fourth Quarter

  

Twelve Months

  
   

2006

  

2005

  

2006

  

2005

  

NET PRODUCTION PER DAY:

                  

United States

                  

Crude Oil and Liquids (MBL)

                  

California

  

94

  

78

  

86

  

76

  

Permian

  

167

  

170

  

167

  

161

  

Horn Mountain

  

11

  

14

  

12

  

13

  

Hugoton and other

  

3

  

3

  

3

  

4

  

Total

  

275

  

265

  

268

  

253

  

Natural Gas (MMCF)

                  

California

  

261

  

247

  

256

  

242

  

Hugoton and other

  

142

  

139

  

138

  

133

  

Permian

  

190

  

180

  

194

  

170

  

Horn Mountain

  

6

  

6

  

7

  

8

  

Total

  

599

  

572

  

595

  

553

  

Latin America

                  

Crude Oil (MBL)

                  

Argentina

  

35

  

—

  

33

  

—

  

Colombia

  

44

  

36

  

38

  

36

  

Total

  

79

  

36

  

71

  

36

  

Natural Gas (MMCF)

                  

Argentina

  

17

  

—

  

17

  

—

  

Bolivia

  

18

  

—

  

17

  

—

  
   

35

  

—

  

34

  

—

  

Middle East / North Africa

                  

Crude Oil (MBL)

                  

Oman

  

19

  

13

  

18

  

17

  

Qatar

  

44

  

42

  

43

  

42

  

Yemen

  

26

  

24

  

29

  

28

  

Libya

  

24

  

24

  

23

  

8

  

Total

  

113

  

103

  

113

  

95

  

Natural Gas (MMCF)

                  

Oman

  

25

  

25

  

30

  

44

  

Other Eastern Hemisphere

                  

Crude Oil (MBL)

                  

Pakistan

  

4

  

5

  

4

  

5

  

Natural Gas (MMCF)

                  

Pakistan

  

76

  

77

  

76

  

77

  

Barrels of Oil Equivalent (MBOE)

                  

Subtotal consolidated subsidiaries

  

594

  

521

  

578

  

501

  

Other interests

                  

Colombia – minority interest

  

(6

)

(4

)

(5

)

(4

)

Russia – Occidental net interest

  

26

  

28

  

27

  

28

  

Yemen – Occidental net interest

  

2

  

1

  

1

  

1

  

Total worldwide production (MBOE)

  

616

  

546

  

601

  

526

  

12

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
SUMMARY OF OPERATING STATISTICS

   

Fourth Quarter

  

Twelve Months

   

2006

  

2005

  

2006

  

2005

OIL & GAS:

                

PRICES

                

United States

                

Crude Oil ($/BBL)

  

52.68

  

52.93

  

58.13

  

50.21

Natural gas ($/MCF)

  

5.64

  

9.81

  

6.51

  

7.11

Latin America

                

Crude Oil ($/BBL)

  

46.80

  

51.54

  

52.40

  

51.18

Natural Gas ($/MCF)

  

2.26

  

—

  

2.00

  

—

Middle East / North Africa

                

Crude Oil ($/BBL)

  

57.21

  

53.08

  

61.58

  

49.88

Natural Gas ($/MCF)

  

0.97

  

0.97

  

0.97

  

0.96

Other Eastern Hemisphere

                

Crude Oil ($/BBL)

  

50.15

  

51.36

  

56.70

  

46.84

Natural Gas ($/MCF)

  

2.96

  

2.50

  

2.94

  

2.44

Total Worldwide

                

Crude Oil ($/BBL)

  

51.18

  

51.87

  

56.57

  

49.18

Natural Gas ($/MCF)

  

4.86

  

8.37

  

5.50

  

5.98

   

Fourth Quarter

  

Twelve Months

   

2006

  

2005

  

2006

  

2005

Exploration Expense

                        

Domestic

  

$

33

  

$

32

  

$

108

  

$

163

Latin America

    

5

    

31

    

17

    

42

Middle East / North Africa

    

44

    

38

    

134

    

47

Other Eastern Hemisphere

    

18

    

17

    

36

    

62

TOTAL

  

$

100

  

$

118

  

$

295

  

$

314

13

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
SUMMARY OF OPERATING STATISTICS

   

Fourth Quarter

  

Twelve Months

Capital Expenditures ($MM)

  

2006

  

2005

  

2006

  

2005

Oil & Gas

                        

California

  

$

169

  

$

110

  

$

545

  

$

380

Permian

    

200

    

137

    

614

    

408

Other - U.S.

    

58

    

70

    

252

    

183

Latin America

    

123

    

32

    

346

    

98

Middle East / North Africa

    

306

    

292

    

929

    

982

Other Eastern Hemisphere

    

23

    

14

    

35

    

86

Chemicals

    

122

    

79

    

251

    

173

Corporate

    

12

    

7

    

33

    

14

TOTAL

  

$

1,013

  

$

741

  

$

3,005

  

$

2,324

Depreciation, Depletion &

  

Fourth Quarter

  

Twelve Months

Amortization of Assets ($MM)

  

2006

  

2005

  

2006

  

2005

Oil & Gas

                        

Domestic

  

$

271

  

$

199

  

$

926

  

$

707

Latin America

    

79

    

18

    

275

    

55

Middle East / North Africa

    

134

    

90

    

525

    

347

Other Eastern Hemisphere

    

9

    

12

    

35

    

42

Chemicals

    

65

    

64

    

260

    

251

Corporate

    

7

    

4

    

21

    

20

TOTAL

  

$

565

  

$

387

  

$

2,042

  

$

1,422

14

Investor Relations Supplemental Schedules

OCCIDENTAL PETROLEUM
CORPORATE
($ millions)

   

31-Dec-06

  

31-Dec-05

CAPITALIZATION

            

Long-Term Debt (including current maturities)

  

$

2,790

  

$

2,919

Subsidiary Preferred Stock

    

75

    

75

Others

    

25

    

25

Total Debt

  

$

2,890

  

$

3,019

EQUITY

  

$

19,184

  

$

15,032

Total Debt To Total Capitalization

    

13%

    

17%

15

Investor Relations Supplemental Schedules

See the investor relations supplemental schedules for the reconciliation of non-GAAP items. Statements in this presentation that contain words such as "will", "expect" or "estimate", or otherwise relate to the future, are forward-looking and involve risks and uncertainties that could materially affect expected results. Factors that could cause results to differ materially include, but are not limited to: exploration risks, such as drilling of unsuccessful wells; global commodity pricing fluctuations and supply/demand considerations for oil, gas and chemicals; higher-than-expected costs; political risk; and not successfully completing (or any material delay in) any expansion, capital expenditure, acquisition, or disposition. You should not place undue reliance on these forward-looking statements which speak only as of the date of this filing. Unless legally required, Occidental disclaims any obligation to update any forward-looking statements as a result of new information, future events or otherwise. U.S. investors are urged to consider carefully the disclosure in our Form 10-K, available through the following toll-free telephone number, 1-888-OXYPETE (1-888-699-7383) or on the Internet at http://www.oxy.com. You also can obtain a copy from the SEC by calling 1-800-SEC-0330.

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