EX-99.3 4 a12-10496_1ex99d3.htm EX-99.3

EXHIBIT 99.3

 

Investor Relations Supplemental Schedules

 

 

Investor Relations Supplemental Schedules

Summary

($ Millions)

 

 

 

 

1Q 2012

 

1Q 2011

 

 

 

 

 

 

 

Core Results

 

$1,560

 

$1,593

 

EPS - Diluted

 

$1.92

 

$1.96

 

 

 

 

 

 

 

Reported Net Income

 

$1,559

 

$1,549

 

EPS - Diluted

 

$1.92

 

$1.90

 

 

 

 

 

 

 

Total Worldwide Sales Volumes (mboe/day)

 

745 

 

728 

 

Total Worldwide Production Volumes (mboe/day)

 

755 

 

730 

 

 

 

 

 

 

 

Total Worldwide Crude Oil Realizations ($/BBL)

 

$107.98

 

$92.14

 

Total Worldwide NGL Realizations ($/BBL)

 

$52.51

 

$52.64

 

Domestic Natural Gas Realizations ($/MCF)

 

$2.84

 

$4.21

 

 

 

 

 

 

 

Wtd. Average Basic Shares O/S (mm)

 

810.5

 

812.6

 

Wtd. Average Diluted Shares O/S (mm)

 

811.3

 

813.4

 

 

 

 

 

 

 

Shares Outstanding (mm)

 

811.1

 

812.9

 

 

 

 

 

 

 

Cash Flow from Operations

 

$

2,800

 

$

2,200

 

 

 

1



 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2012 First Quarter

Net Income (Loss)

($ millions)

 

 

 

 

Reported

 

 

 

 

 

Core

 

 

Income

 

Significant Items Affecting Income

 

Results

Oil & Gas

 

$

2,504

 

 

 

 

 

$

2,504

 

 

 

 

 

 

 

 

 

Chemical

 

184

 

 

 

 

 

184

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

131

 

 

 

 

 

131

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

Interest expense, net

 

(28)

 

 

 

 

 

(28)

 

 

 

 

 

 

 

 

 

Other

 

(92)

 

 

 

 

 

(92)

 

 

 

 

 

 

 

 

 

Taxes

 

(1,139)

 

 

 

 

 

(1,139)

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

1,560

 

-

 

 

 

1,560

Discontinued operations, net of tax

 

(1)

 

1  

 

Discontinued operations, net

 

-

Net Income

 

$

1,559

 

$

 1  

 

 

 

$

1,560

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.92

 

 

 

 

 

 

Discontinued operations, net

 

-

 

 

 

 

 

 

Net Income

 

$

1.92

 

 

 

 

 

$

1.92

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.92

 

 

 

 

 

 

Discontinued operations, net

 

-

 

 

 

 

 

 

Net Income

 

$

1.92

 

 

 

 

 

$

1.92

 

2



 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2011 First Quarter

Net Income (Loss)

($ millions)

 

 

 

 

Reported

 

 

 

 

 

Core

 

 

Income

 

Significant Items Affecting Income

 

Results

Oil & Gas

 

$

 2,468

 

$

 35

 

Libya exploration write-off

 

$

 2,510

 

 

 

 

(22)

 

Gain on sale of Colombia pipeline interest

 

 

 

 

 

 

29

 

Foreign Tax

 

 

 

 

 

 

 

 

 

 

 

Chemical

 

219

 

 

 

 

 

219

 

 

 

 

 

 

 

 

 

Midstream, marketing and other

 

114

 

 

 

 

 

114

 

 

 

 

 

 

 

 

 

Corporate

 

 

 

 

 

 

 

 

Interest expense, net

 

(214)

 

163

 

Premium on debt extinguishments

 

(51)

 

 

 

 

 

 

 

 

 

Other

 

(128)

 

 

 

 

 

(128)

 

 

 

 

 

 

 

 

 

Taxes

 

(1,054)

 

(50)

 

Tax effect of adjustments

 

(1,071)

 

 

 

 

33

 

State income tax charge

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

1,405

 

188

 

 

 

1,593

Discontinued operations, net of tax

 

144

 

(144)

 

Discontinued operations, net

 

-

Net Income

 

$

 1,549

 

$

 44

 

 

 

$

 1,593

 

 

 

 

 

 

 

 

 

Basic Earnings Per Common Share

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

 1.72

 

 

 

 

 

 

Discontinued operations, net

 

0.18

 

 

 

 

 

 

Net Income

 

$

 1.90

 

 

 

 

 

$

 1.96

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Common Share

 

 

 

 

 

 

Income from continuing operations

 

$

 1.72

 

 

 

 

 

 

Discontinued operations, net

 

0.18

 

 

 

 

 

 

Net Income

 

$

 1.90

 

 

 

 

 

$

 1.96

 

3



 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

 

Worldwide Effective Tax Rate

 

 

 

 

QUARTERLY

 

 

2012

 

2011

 

 

2011

REPORTED INCOME

 

QTR 1

 

QTR 4

 

 

QTR 1

Oil & Gas

 

2,504

 

 

2,537

 

 

2,468

 

Chemicals

 

184

 

 

144

 

 

219

 

Midstream, marketing and other

 

131

 

 

70

 

 

114

 

Corporate & other

 

(120

)

 

(161

)

 

(342

)

Pre-tax income

 

2,699

 

 

2,590

 

 

2,459

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

 

 

 

 

 

 

 

Federal and state

 

446

 

 

435

 

 

365

 

Foreign

 

693

 

 

514

 

 

689

 

Total

 

1,139

 

 

949

 

 

1,054

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

1,560

 

 

1,641

 

 

1,405

 

 

 

 

 

 

 

 

 

 

 

Worldwide effective tax rate

 

42%

 

37%

 

43%

 

 

 

 

 

 

 

 

 

 

 

 

 

2012

 

2011

 

2011

CORE RESULTS

 

QTR 1

 

QTR 4

 

QTR 1

Oil & Gas

 

2,504

 

 

2,537

 

 

2,510

 

Chemicals

 

184

 

 

144

 

 

219

 

Midstream, marketing and other

 

131

 

 

70

 

 

114

 

Corporate & other

 

(120

)

 

(161

)

 

(179

)

Pre-tax income

 

2,699

 

 

2,590

 

 

2,664

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

 

 

 

 

 

 

 

Federal and state

 

446

 

 

435

 

 

395

 

Foreign

 

693

 

 

514

 

 

676

 

Total

 

1,139

 

 

949

 

 

1,071

 

 

 

 

 

 

 

 

 

 

 

Core results

 

1,560

 

 

1,641

 

 

1,593

 

 

 

 

 

 

 

 

 

 

 

Worldwide effective tax rate

 

42%

 

37%

 

40%

 

4



 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

 

2012 First Quarter Net Income (Loss)

 

Reported Income Comparison

 

 

 

First

 

Fourth

 

 

 

 

Quarter

 

Quarter

 

 

 

 

2012

 

2011

 

B / (W)

Oil & Gas

 

$

2,504

 

 

$

2,537

 

 

$

(33

)

Chemical

 

 

184

 

 

 

144

 

 

 

40

 

Midstream, marketing and other

 

 

131

 

 

 

70

 

 

 

61

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

(28

)

 

 

(25

)

 

 

(3

)

Other

 

 

(92

)

 

 

(136

)

 

 

44

 

Taxes

 

 

(1,139

)

 

 

(949

)

 

 

(190

)

Income from continuing operations

 

 

1,560

 

 

 

1,641

 

 

 

(81

)

Discontinued operations, net

 

 

(1

)

 

 

(7

)

 

 

6

 

Net Income

 

$

1,559

 

 

$

1,634

 

 

$

(75

)

 

 

 

 

 

 

 

 

 

 

 

 

Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.92

 

 

$

2.01

 

 

$

(0.09

)

Diluted

 

$

1.92

 

 

$

2.01

 

 

$

(0.09

)

 

 

 

 

 

 

 

 

 

 

Worldwide Effective Tax Rate

 

42%

 

37%

 

-5%

 

 

 

 

 

 

 

 

 

 

 

OCCIDENTAL PETROLEUM

 

2012 First Quarter Net Income (Loss)

 

Core Results Comparison

 

 

 

First

 

Fourth

 

 

 

 

Quarter

 

Quarter

 

 

 

 

2012

 

2011

 

B / (W)

Oil & Gas

 

$

2,504

 

 

$

2,537

 

 

$

(33

)

Chemical

 

 

184

 

 

 

144

 

 

 

40

 

Midstream, marketing and other

 

 

131

 

 

 

70

 

 

 

61

 

Corporate

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

(28

)

 

 

(25

)

 

 

(3

)

Other

 

 

(92

)

 

 

(136

)

 

 

44

 

Taxes

 

 

(1,139

)

 

 

(949

)

 

 

(190

)

Core Results

 

 

$1,560

 

 

$

1,641

 

 

$

(81

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Core Results Per Common Share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.92

 

 

$

2.02

 

 

$

(0.10

)

Diluted

 

$

1.92

 

 

$

2.02

 

 

$

(0.10

)

 

 

 

 

 

 

 

 

 

 

Worldwide Effective Tax Rate

 

42%

 

37%

 

-5%

 

5



 

Investor Relations Supplemental Schedules

 

 

 

6



 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

2012 First Quarter Net Income (Loss)

Reported Income Comparison

 

 

 

First

 

First

 

 

 

 

 

Quarter

 

Quarter

 

 

 

 

 

2012

 

2011

 

B / (W)

 

Oil & Gas

 

$

2,504

 

$

2,468

 

$

36

 

Chemical

 

184

 

219

 

(35)

 

Midstream, marketing and other

 

131

 

114

 

17

 

Corporate

 

 

 

 

 

 

 

Interest expense, net

 

(28)

 

(214)

 

186

 

Other

 

(92)

 

(128)

 

36

 

Taxes

 

(1,139)

 

(1,054)

 

(85)

 

Income from continuing operations

 

1,560

 

1,405

 

155

 

Discontinued operations, net

 

(1)

 

144

 

(145)

 

Net Income

 

$

1,559

 

$

1,549

 

$

10

 

 

 

 

 

 

 

 

 

Earnings Per Common Share

 

 

 

 

 

 

 

Basic

 

$

1.92

 

$

1.90

 

$

0.02

 

Diluted

 

$

1.92

 

$

1.90

 

$

0.02

 

 

 

 

 

 

 

 

 

Worldwide Effective Tax Rate

 

42%

 

43%

 

1%

 

 

 

OCCIDENTAL PETROLEUM

2012 First Quarter Net Income (Loss)

Core Results Comparison

 

 

 

First

 

First

 

 

 

 

 

Quarter

 

Quarter

 

 

 

 

 

2012

 

2011

 

B / (W)

 

Oil & Gas

 

$

2,504

 

$

2,510

 

$

(6)

 

Chemical

 

184

 

219

 

(35)

 

Midstream, marketing and other

 

131

 

114

 

17

 

Corporate

 

 

 

 

 

 

 

Interest expense, net

 

(28)

 

(51)

 

23

 

Other

 

(92)

 

(128)

 

36

 

Taxes

 

(1,139)

 

(1,071)

 

(68)

 

Core Results

 

$

1,560

 

$

1,593

 

$

(33)

 

 

 

 

 

 

 

 

 

Core Results Per Common Share

 

 

 

 

 

 

 

Basic

 

$

1.92

 

$

1.96

 

$

(0.04)

 

Diluted

 

$

1.92

 

$

1.96

 

$

(0.04)

 

 

 

 

 

 

 

 

 

Worldwide Effective Tax Rate

 

42%

 

40%

 

-2%

 

 

7



 

Investor Relations Supplemental Schedules

 

 

 

8



 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

 

 

 

First Quarter

 

 

 

 

 

2012

 

2011

 

NET PRODUCTION PER DAY:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

 

 

 

 

 

 

Crude Oil (MBBL)

 

 

 

 

 

 

 

 

 

California

 

86

 

77

 

 

 

Permian

 

139

 

132

 

 

 

Midcontinent and other

 

19

 

13

 

 

 

Total

 

244

 

222

 

NGL (MBBL)

 

 

 

 

 

 

 

 

 

California

 

15

 

14

 

 

 

Permian

 

39

 

37

 

 

 

Midcontinent and other

 

18

 

8

 

 

 

Total

 

72

 

59

 

Natural Gas (MMCF)

 

 

 

 

 

 

 

 

 

California

 

267

 

242

 

 

 

Permian

 

155

 

165

 

 

 

Midcontinent and other

 

412

 

327

 

 

 

Total

 

834

 

734

 

 

 

 

 

 

 

 

 

Latin America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Crude Oil (MBBL)

 

Colombia

 

24

 

31

 

 

 

 

 

 

 

 

 

Natural Gas (MMCF)

 

Bolivia

 

14

 

16

 

 

 

 

 

 

 

 

 

Middle East / North Africa

 

 

 

 

 

 

 

Crude Oil (MBBL)

 

 

 

 

 

 

 

 

 

Bahrain

 

4

 

4

 

 

 

Dolphin

 

8

 

9

 

 

 

Oman

 

64

 

67

 

 

 

Qatar

 

72

 

75

 

 

 

Other

 

42

 

57

 

 

 

Total

 

190

 

212

 

NGL (MBBL)

 

 

 

 

 

 

 

 

 

Dolphin

 

9

 

10

 

 

 

Other

 

-

 

1

 

 

 

Total

 

9

 

11

 

Natural Gas (MMCF)

 

 

 

 

 

 

 

 

 

Bahrain

 

219

 

173

 

 

 

Dolphin

 

173

 

196

 

 

 

Oman

 

57

 

50

 

 

 

Total

 

449

 

419

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Barrels of Oil Equivalent (MBOE)

 

 

 

755

 

730

 

 

9


 


 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

 

 

 

First Quarter

 

 

 

 

2012

 

2011

NET SALES VOLUMES PER DAY:

 

 

 

 

 

 

United States

 

 

 

 

 

 

Crude Oil (MBBL)

 

 

 

244

 

222

NGL (MBBL)

 

 

 

72

 

59

Natural Gas (MMCF)

 

 

 

834

 

734

 

 

 

 

 

 

 

Latin America

 

 

 

 

 

 

Crude Oil (MBBL)

 

 

 

24

 

33

Natural Gas (MMCF)

 

 

 

14

 

16

 

 

 

 

 

 

 

Middle East / North Africa

 

 

 

 

 

 

Crude Oil (MBBL)

 

 

 

 

 

 

 

 

Bahrain

 

4

 

4

 

 

Dolphin

 

8

 

9

 

 

Oman

 

64

 

71

 

 

Qatar

 

70

 

76

 

 

Other

 

34

 

49

 

 

Total

 

180

 

209

 

 

 

 

 

 

 

NGL (MBBL)

 

Dolphin

 

9

 

10

 

 

 

 

 

 

 

Natural Gas (MMCF)

 

 

 

449

 

419

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Barrels of Oil Equivalent (MBOE)

 

 

 

745

 

728

 

10



 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

 

First Quarter

 

 

2012

 

2011

 

 

 

 

 

OIL & GAS:

 

 

 

 

PRICES

 

 

 

 

United States

 

 

 

 

Crude Oil ($/BBL)

 

103.52

 

88.04

NGL ($/BBL)

 

53.95

 

55.90

Natural gas ($/MCF)

 

2.84

 

4.21

 

 

 

 

 

Latin America

 

 

 

 

Crude Oil ($/BBL)

 

103.31

 

92.68

Natural Gas ($/MCF)

 

11.63

 

8.23

 

 

 

 

 

Middle East / North Africa

 

 

 

 

Crude Oil ($/BBL)

 

114.80

 

96.44

NGL ($/BBL)

 

40.77

 

33.93

 

 

 

 

 

Total Worldwide

 

 

 

 

Crude Oil ($/BBL)

 

107.98

 

92.14

NGL ($/BBL)

 

52.51

 

52.64

Natural Gas ($/MCF)

 

2.22

 

3.05

 

 

 

 

 

 

 

 

 

 

 

 

First Quarter

 

 

2012

 

2011

Exploration Expense

 

 

 

 

United States

 

$    61

 

$    40

Latin America

 

-    

 

-    

Middle East / North Africa

 

37

 

44

TOTAL REPORTED

 

$    98

 

$    84

Less - non-core impairments

 

-    

 

(35)

TOTAL CORE

 

$    98

 

$    49

 

11



 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

SUMMARY OF OPERATING STATISTICS

 

 

 

First Quarter

Capital Expenditures ($MM)

 

2012

 

2011

Oil & Gas

 

 

 

 

California

 

$   523

 

$   308

Permian

 

429

 

216

Midcontinent and other

 

424

 

180

Latin America

 

42

 

42

Middle East / North Africa

 

428

 

352

Exploration

 

171

 

65

Chemicals

 

42

 

22

Midstream, marketing and other

 

332

 

127

Corporate

 

21

 

13

TOTAL

 

$ 2,412

 

$ 1,325

 

 

 

 

 

 

 

 

 

 

Depreciation, Depletion &

 

First Quarter

Amortization of Assets ($MM)

 

2012

 

2011

Oil & Gas

 

 

 

 

Domestic

 

$   588

 

$   407

Latin America

 

25

 

28

Middle East / North Africa

 

335

 

322

Chemicals

 

85

 

82

Midstream, marketing and other

 

46

 

45

Corporate

 

6

 

6

TOTAL

 

$ 1,085

 

$   890

 

12



 

Investor Relations Supplemental Schedules

 

 

OCCIDENTAL PETROLEUM

CORPORATE

($ millions)

 

 

 

31-Mar-12

 

31-Dec-11

 

 

 

 

 

 

 

CAPITALIZATION

 

 

 

 

 

 

 

 

 

 

 

Long-Term Debt (including short-term borrowings)

 

$     5,873

 

$      5,871

 

 

 

 

 

 

 

EQUITY

 

$   38,747

 

$    37,620

 

 

 

 

 

 

 

Total Debt To Total Capitalization

 

13%

 

13%

 

 

13