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Microsoft Excel LibreOffice Calc

Occidental Petroleum Corp. (NYSE:OXY)

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Analysis of Debt

Advanced level

Total Debt (Carrying Amount)

Occidental Petroleum Corp., balance sheet: debt

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Current maturities of long-term debt
Long-term debt, net, excluding current maturities
Total long-term debt, including current maturities (carrying amount)

Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-23).

Debt item Description The company
Total long-term debt, including current maturities (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Occidental Petroleum Corp.’s total debt increased from 2016 to 2017 and from 2017 to 2018.

Total Debt (Fair Value)

Microsoft Excel LibreOffice Calc
Dec 31, 2018
Selected Financial Data (US$ in millions)
Total long-term debt, including current maturities (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (filing date: 2019-02-21).

Weighted-average Interest Rate on Debt

Weighted-average interest rate on debt:

Interest Rate Debt Amount1 Interest Rate × Debt Amount Weighted-average Interest Rate2
Total

Based on: 10-K (filing date: 2019-02-21).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =

Interest Costs Incurred

Occidental Petroleum Corp., interest costs incurred

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Interest and debt expense, net
Capitalized interest
Interest costs incurred

Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-23).

Debt item Description The company
Interest and debt expense, net Amount of the cost of borrowed funds accounted for as interest expense for debt. Occidental Petroleum Corp.’s interest and debt expense, net increased from 2016 to 2017 and from 2017 to 2018.
Capitalized interest Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. Occidental Petroleum Corp.’s capitalized interest decreased from 2016 to 2017 and from 2017 to 2018.
Interest costs incurred Total interest costs incurred during the period and either capitalized or charged against earnings. Occidental Petroleum Corp.’s interest costs incurred increased from 2016 to 2017 and from 2017 to 2018.

Adjusted Interest Coverage Ratio

Microsoft Excel LibreOffice Calc
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Selected Financial Data (US$ in millions)
Net income (loss) attributable to common stock
Add: Net income attributable to noncontrolling interest
Less: Income from discontinued operations
Add: Income tax expense
Add: Interest and debt expense, net
Earnings before interest and tax (EBIT)
 
Interest costs incurred
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-26), 10-K (filing date: 2015-02-23).

2018 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest and debt expense, net
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest costs incurred
= ÷ =

Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Occidental Petroleum Corp.’s adjusted interest coverage ratio improved from 2016 to 2017 and from 2017 to 2018.