Common-Size Balance Sheet: Assets
Occidental Petroleum Corp., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2024-12-31), 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).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets exhibited variability over the observed periods. It increased from 2.51% in 2020 to a peak of 3.68% in 2021, before declining to 1.36% in 2022. Subsequently, it showed a recovery trend, rising to 1.93% in 2023 and reaching 2.5% by 2024.
- Trade receivables, net of reserves
- This item demonstrated an overall growth initially, moving from 2.64% in 2020 to 5.61% in 2021 and slightly increasing to 5.9% in 2022. After peaking, it decreased moderately to 4.32% in 2023 and further to 4.13% in 2024, indicating a reduction in outstanding trade amounts relative to total assets over the last two years.
- Joint interest receivables
- Data for joint interest receivables was absent prior to 2023. In 2023, it accounted for 1.22% of total assets, declining to 0.84% in 2024. This suggests the emergence and subsequent reduction of this asset category in the most recent periods.
- Inventories
- The proportion of inventories increased steadily from 2.37% in 2020 to 2.84% in 2022, followed by a slight decline to 2.73% in 2023 and 2.45% in 2024. These fluctuations imply a relatively stable inventory level with minor decreases in the later years.
- Other current assets
- Other current assets as a percentage of total assets showed a decreasing pattern, dropping from 3.49% in 2020 to 0.7% in 2024. The decline was consistent year-over-year, reflecting a reduction in miscellaneous short-term asset holdings.
- Current assets
- Aggregate current assets peaked at 13.61% of total assets in 2021, rising from 11.01% in 2020. Subsequently, there was a gradual decline to 12.24% in 2022, 11.32% in 2023, and 10.62% in 2024. This trend suggests a shrinking proportion of liquid and short-term assets in relation to the overall asset base.
- Investments in unconsolidated entities
- The percentage of investments in unconsolidated entities exhibited minor fluctuations, moving from 4.06% in 2020 down to 3.7% in 2024. The highest value was observed in 2022 at 4.37%. Overall, this indicates a relatively stable but slightly declining investment presence.
- Property, plant and equipment, net
- This category consistently represented the largest portion of total assets, ranging between approximately 79% to 82%. It experienced a decline from 82.3% in 2020 to 79.87% in 2021, stabilized around 80.41% in 2022, dipped to 79.08% in 2023, and then increased to 81.2% in 2024, indicating sustained emphasis on fixed asset investments.
- Operating lease assets
- The share of operating lease assets showed some variability, decreasing from 1.33% in 2020 to 0.97% in 2021, increasing to 1.53% in 2023 before falling again to 1.1% in 2024. This pattern reflects changing commitments or adjustments in leasing asset classifications.
- Other long-term assets
- There was a notable increase in other long-term assets, rising from 1.3% in 2020 to a peak of 3.72% in 2023, followed by a slight reduction to 3.4% in 2024. The steep rise suggests growing investment or accumulation in less conventional long-term asset categories during the recent years.
- Long-term assets
- The aggregate long-term assets represented a dominant portion of total assets, consistently above 86%. The percentage declined from 88.99% in 2020 to 86.39% in 2021, then gradually increased over the subsequent years, reaching 89.38% in 2024. This reaffirms the company's asset composition focus on long-term holdings.
- Total assets
- By definition, total assets were unchanged at 100% across all reporting periods, serving as the baseline for percentage comparisons among asset categories.