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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOW FROM OPERATING ACTIVITIES      
Net income (loss) $ 2,322 $ (14,831) $ (522)
Adjustments to reconcile net income (loss) to net cash from operating activities:      
Discontinued operations, net 468 1,298 15
Depreciation, depletion and amortization of assets 8,447 8,097 6,140
Deferred income tax provision (benefit) 46 (2,517) (1,027)
Other noncash charges to income 229 419 958
Asset impairments and other charges 304 11,002 1,328
(Gain) loss on sales of equity investments and other assets, net (192) 1,666 (622)
Undistributed earnings from affiliates (70) (61) (50)
Dry hole expense 125 47 89
Changes in operating assets and liabilities:      
(Increase) decrease in receivables (2,086) 2,062 401
(Increase) decrease in inventories (86) (484) 78
(Increase) decrease in other current assets (119) 350 170
Increase (decrease) in accounts payable and accrued liabilities 865 (3,228) 358
Increase in current domestic and foreign income taxes 0 22 20
Operating cash flow from continuing operations 10,253 3,842 7,336
Operating cash flow from discontinued operations, net of taxes 181 113 39
Net cash provided by operating activities 10,434 3,955 7,375
CASH FLOW FROM INVESTING ACTIVITIES      
Capital expenditures (2,870) (2,535) (6,367)
Change in capital accrual 97 (519) (249)
Purchase of businesses and assets, net (431) (114) (28,088)
Proceeds from sale of assets and equity investments, net 1,624 2,281 6,143
Equity investments and other, net 406 109 (291)
Investing cash flow from continuing operations (1,174) (778) (28,852)
Investing cash flow from discontinued operations (79) (41) (175)
Net cash used by investing activities (1,253) (819) (29,027)
CASH FLOW FROM FINANCING ACTIVITIES      
Proceeds from issuance of common and preferred stock 31 134 10,028
Purchases of treasury stock (8) (12) (237)
Cash dividends paid on common and preferred stock (839) (1,845) (2,624)
Distributions to noncontrolling interest 0 0 (257)
Payment of liabilities associated with the sale of future royalties 0 (386) (28)
Financing portion of net cash received (paid) for derivative instruments (834) (362) 120
Other financing, net (80) (57) 137
Financing cash flow from continuing operations (8,564) (4,508) 22,196
Financing cash flow from discontinued operations (8) (8) (3)
Net cash provided (used) by financing activities (8,572) (4,516) 22,193
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents 609 (1,380) 541
Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of year 2,194 3,574 3,033
Cash, cash equivalents, restricted cash and restricted cash equivalents — end of year 2,803 2,194 3,574
Occidental      
CASH FLOW FROM FINANCING ACTIVITIES      
Proceeds from long-term debt, net 0 6,936 21,557
Payments of long-term debt, net - Occidental (6,834) (8,916) (6,959)
WES      
CASH FLOW FROM FINANCING ACTIVITIES      
Proceeds from long-term debt, net $ 0 $ 0 $ 459