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The statement of financial position provides creditors, investors, and analysts with information on company's resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company's assets as well as an indication of cash flows that may come from receivables and inventories.
Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.
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Occidental Petroleum Corp., Consolidated Statement of Financial Position, Liabilities and Stockholders' Equity
USD $ in millions
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | ||
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Current maturities of long-term debt | |
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Accounts payable | |
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Accrued liabilities | |
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Domestic and foreign income taxes | |
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Liabilities of discontinued operations | |
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Current liabilities | |
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Long-term debt, net | |
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Deferred and other domestic and foreign income taxes | |
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Long-term liabilities of discontinued operations | |
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Other | |
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Deferred credits and other liabilities | |
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Long-term liabilities | |
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Total liabilities | |
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Common stock, $0.20 par value | |
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Treasury stock | |
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Additional paid-in capital | |
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Retained earnings | |
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Accumulated other comprehensive loss | |
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Equity attributable to common stock | |
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Noncontrolling interest | |
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Total stockholders' equity | |
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Total liabilities and stockholders' equity | |
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| Item | Description | The company |
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| Accounts payable | Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). | Occidental Petroleum Corp.'s accounts payable increased from 2009 to 2010 and from 2010 to 2011. |
| Current liabilities | Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. | Occidental Petroleum Corp.'s current liabilities increased from 2009 to 2010 and from 2010 to 2011. |
| Long-term liabilities | Total obligations incurred as part of normal operations that is expected to be repaid beyond the following twelve months or one business cycle. | Occidental Petroleum Corp.'s long-term liabilities increased from 2009 to 2010 and from 2010 to 2011. |
| Total liabilities | Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. | Occidental Petroleum Corp.'s total liabilities increased from 2009 to 2010 and from 2010 to 2011. |
| Equity attributable to common stock | Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). | Occidental Petroleum Corp.'s equity attributable to common stock increased from 2009 to 2010 and from 2010 to 2011. |
| Total stockholders' equity | Total of Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity including portions attributable to both the parent and noncontrolling interests (previously referred to as minority interest), if any. The entity including portions attributable to the parent and noncontrolling interests is sometimes referred to as the economic entity. | Occidental Petroleum Corp.'s total stockholders' equity increased from 2009 to 2010 and from 2010 to 2011. |
May 23, 2012