Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Occidental Petroleum Corp., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income (loss)	4,696)	13,304)	2,322)	(14,831)	(522)
Discontinued operations, net	—)	—)	468)	1,298)	15)
Depreciation, depletion and amortization of assets	6,865)	6,926)	8,447)	8,097)	5,981)
Deferred income tax provision (benefit)	57)	(1,644)	46)	(2,517)	(1,027)
Other noncash (benefit) charges to income	(100)	(8)	229)	419)	940)
Asset impairments and related items	209)	—)	304)	11,002)	1,328)
(Gain) loss on sales of assets and other, net	(522)	(308)	(192)	1,666)	(622)
Undistributed (earnings) losses from equity investments	144)	(219)	(70)	(61)	(50)
Dry hole expenses	299)	84)	125)	47)	89)
(Increase) decrease in receivables	1,088)	(97)	(2,086)	2,062)	(44)
(Increase) decrease in inventories	(91)	(230)	(86)	(484)	77)
(Increase) decrease in other current assets	(13)	(335)	(119)	350)	186)
Increase (decrease) in accounts payable and accrued liabilities	(549)	(478)	865)	(3,228)	793)
Increase (decrease) in current domestic and foreign income taxes	225)	(185)	—)	22)	59)
Changes in operating assets and liabilities	660)	(1,325)	(1,426)	(1,278)	1,071)
Adjustments to reconcile net income (loss) to net cash from operating activities	7,612)	3,506)	7,931)	18,673)	7,725)
Net cash provided by operating activities	12,308)	16,810)	10,253)	3,842)	7,203)
Capital expenditures	(6,270)	(4,497)	(2,870)	(2,535)	(6,355)
Change in capital accrual	25)	147)	97)	(519)	(282)
Purchase of businesses, assets and equity investments, net	(713)	(990)	(431)	(114)	(28,088)
Proceeds from sale of assets and equity investments, net	448)	584)	1,624)	2,281)	6,143)
Equity investments and other, net	(470)	(116)	406)	109)	(291)
Net cash used by investing activities	(6,980)	(4,872)	(1,174)	(778)	(28,873)
Draws on receivables securitization facility	900)	400)	—)	—)	—)
Payment of receivables securitization facility	(900)	(400)	—)	—)	—)
Debt issuance costs	(46)	—)	—)	—)	—)
Proceeds from long-term debt, net, Occidental	—)	—)	—)	6,936)	21,557)
Payments of long-term debt, net, Occidental	(22)	(9,484)	(6,834)	(8,916)	(6,959)
Proceeds from long-term debt, net, WES	—)	—)	—)	—)	1,459)
Payments of long-term debt, net, WES	—)	—)	—)	—)	(1,000)
Redemption of preferred stock	(1,661)	—)	—)	—)	—)
Purchases of treasury stock	(1,798)	(3,099)	(8)	(12)	(237)
Cash dividends paid on common and preferred stock	(1,365)	(1,184)	(839)	(1,845)	(2,624)
Proceeds from issuance of common stock	135)	293)	31)	134)	10,028)
Contribution from noncontrolling interest	100)	—)	—)	—)	—)
Distributions to noncontrolling interest	—)	—)	—)	—)	(257)
Payment of liabilities associated with the sale of future royalties	—)	—)	—)	(386)	—)
Financing portion of net cash received (paid) for derivative instruments	—)	(111)	(834)	(362)	—)
Other financing, net	(233)	(130)	(80)	(57)	229)
Net cash provided (used) by financing activities	(4,890)	(13,715)	(8,564)	(4,508)	22,196)
Operating cash flow from discontinued operations, net of taxes	—)	—)	181)	113)	172)
Investing cash flow from discontinued operations	—)	—)	(79)	(41)	(154)
Financing cash flow from discontinued operations	—)	—)	(8)	(8)	(3)
Cash flow from discontinued operations	—)	—)	94)	64)	15)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents	438)	(1,777)	609)	(1,380)	541)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of year	1,026)	2,803)	2,194)	3,574)	3,033)
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of year	1,464)	1,026)	2,803)	2,194)	3,574)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Occidental Petroleum Corp. net cash provided by operating activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Net cash used by investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Occidental Petroleum Corp. net cash used by investing activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash provided (used) by financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Occidental Petroleum Corp. net cash provided (used) by financing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Occidental Petroleum Corp. (NYSE:OXY)

Cash Flow Statement