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Industry Segments (Tables)
 6 Months Ended
Jun. 30, 2017
Industry Segments  
Schedule of industry segments

 

The following tables present Occidental’s industry segments (in millions):

 

 

 

Oil

 

 

 

Midstream

 

Corporate

 

 

 

 

 

and

 

 

 

and

 

and

 

 

 

 

 

Gas

 

Chemical

 

Marketing

 

Eliminations

 

Total

 

Three months ended June 30, 2017

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$
1,848

 

$
1,156

 

$
270

 

$
(214)

 

$
3,060

 

Pre-tax operating profit (loss)

 

$
627

(a)

$
230

 

$
119

(b)

$
(184)

  (c) 

$
792

 

Income taxes

 

—

 

—

 

—

 
(285)

  (d) 
(285)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$
627

 

$
230

 

$
119

 

$
(469)

 

$
507

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 30, 2016

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$
1,625

 

$
908

 

$
141

 

$
(143)

 

$
2,531

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax operating profit (loss)

 

$
(117)

 

$
88

 

$
(58)

 

$
(145)

  (c) 

$
(232)

 

Income taxes

 

—

 

—

 

—

 
96

  (d) 
96

 

Discontinued operations, net

 

—

 

—

 

—

 
(3)

 
(3)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$
(117)

 

$
88

 

$
(58)

 

$
(52)

 

$
(139)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Oil

 

 

 

Midstream

 

Corporate

 

 

 

 

 

and

 

 

 

and

 

and

 

 

 

 

 

Gas

 

Chemical

 

Marketing

 

Eliminations

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 2017

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$
3,742

 

$
2,224

 

$
481

 

$
(430)

 

$
6,017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax operating profit (loss)

 

$
847

(a)

$
400

 

$
72

(b)

$
(332)

  (c) 

$
987

 

Income taxes

 

—

 

—

 

—

 
(363)

  (d)  
(363)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$
847

 

$
400

 

$
72

 

$
(695)

 

$
624

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 2016

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$
2,900

 

$
1,798

 

$
274

 

$
(318)

 

$
4,654

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pre-tax operating profit (loss)

 

$
(602)

 

$
302

(e)

$
(153)

 

$
(342)

  (c) 

$
(795)

 

Income taxes

 

—

 

—

 

—

 
299

  (d) 
299

 

Discontinued operations, net

 

—

 

—

 

—

 
435

 
435

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$
(602)

 

$
302

 

$
(153)

 

$
392

 

$
(61)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Includes gain on sale of domestic oil and gas assets, including South Texas, of $510 million.

(b)

Includes a non-cash fair value gain of $88 million on the Plains equity investment.

(c)

Includes unallocated net interest expense, administration expense, environmental remediation and other pre-tax items.

(d)

Includes all foreign and domestic income taxes from continuing operations.

(e)

Includes gain on sale of $57 million and $31 million related to the Occidental Tower in Dallas, Texas and a non-core specialty chemicals business, respectively.