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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CASH FLOW FROM OPERATING ACTIVITIES      
Net income (loss) $ (14,831) $ (522) $ 4,131
Adjustments to reconcile net income (loss) to net cash from operating activities:      
Discontinued operations, net 1,298 15 0
Depreciation, depletion and amortization of assets 8,097 6,140 3,977
Deferred income tax (benefit) provision (2,517) (1,027) 371
Other noncash charges to income 419 958 34
Asset impairments and other charges 11,002 1,328 561
(Gain) loss on sales of equity investments and other assets, net 1,666 (622) (974)
Undistributed earnings from affiliates (61) (50) (43)
Dry hole expense 47 89 56
Changes in operating assets and liabilities:      
Decrease in receivables 2,062 401 955
(Increase) decrease in inventories (484) 78 (108)
Decrease in other current assets 350 170 94
Increase (decrease) in accounts payable and accrued liabilities (3,228) 358 (1,500)
Increase in current domestic and foreign income taxes 22 20 38
Other operating, net 0 0 77
Operating cash flow from continuing operations 3,842 7,336 7,669
Operating cash flow from discontinued operations, net of taxes 113 39 0
Net cash provided by operating activities 3,955 7,375 7,669
CASH FLOW FROM INVESTING ACTIVITIES      
Capital expenditures (2,535) (6,367) (4,975)
Change in capital accrual (519) (249) 55
Purchase of businesses and assets, net (114) (28,088) (928)
Proceeds from sale of assets and equity investments, net 2,281 6,143 2,824
Equity investments and other, net 109 (291) (182)
Investing cash flow from continuing operations (778) (28,852) (3,206)
Investing cash flow from discontinued operations (41) (175) 0
Net cash used by investing activities (819) (29,027) (3,206)
CASH FLOW FROM FINANCING ACTIVITIES      
Proceeds from issuance of common and preferred stock 134 10,028 33
Purchases of treasury stock (12) (237) (1,248)
Cash dividends paid on common and preferred stock (1,845) (2,624) (2,374)
Distributions to noncontrolling interest 0 (257) 0
Payment of liabilities associated with the sale of future royalties (386) (28) 0
Other financing, net (419) 257 9
Financing cash flow from continuing operations (4,508) 22,196 (3,102)
Financing cash flow from discontinued operations (8) (3) 0
Net cash provided (used) by financing activities (4,516) 22,193 (3,102)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents (1,380) 541 1,361
Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of year 3,574 3,033 1,672
Cash, cash equivalents, restricted cash and restricted cash equivalents — end of year 2,194 3,574 3,033
Occidental      
CASH FLOW FROM FINANCING ACTIVITIES      
Proceeds from long-term debt, net 6,936 21,557 978
Payments of long-term debt, net (8,916) (6,959) (500)
WES      
CASH FLOW FROM FINANCING ACTIVITIES      
Proceeds from long-term debt, net $ 0 $ 459 $ 0