Name: Occidental Petroleum Corp. (NYSE:OXY) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

Download chart

Current Assets: Selected Items

Download chart

Occidental Petroleum Corp., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash and cash equivalents	2,132)	1,426)	984)	2,764)	2,008)
Trade receivables, net of reserves	3,526)	3,195)	4,281)	4,208)	2,115)
Joint interest receivables	720)	902)	—)	—)	—)
Inventories	2,095)	2,022)	2,059)	1,846)	1,898)
Other current assets	597)	830)	1,562)	1,393)	2,798)
Current assets	9,070)	8,375)	8,886)	10,211)	8,819)
Investments in unconsolidated entities	3,159)	3,224)	3,176)	2,938)	3,250)
Property, plant and equipment, net	69,378)	58,529)	58,384)	59,930)	65,889)
Operating lease assets	937)	1,130)	903)	726)	1,062)
Other long-term assets	2,901)	2,750)	1,260)	1,231)	1,044)
Long-term assets	76,375)	65,633)	63,723)	64,825)	71,245)
Total assets	85,445)	74,008)	72,609)	75,036)	80,064)

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).

Total assets experienced a period of contraction between 2020 and 2022, declining from US$ 80,064 million to US$ 72,609 million, before entering a recovery and expansion phase that resulted in a peak of US$ 85,445 million by the end of 2024. This trajectory indicates a significant restructuring of the balance sheet, with the most substantial growth occurring in the final year of the period analyzed.

Current Asset Volatility and Liquidity: Current assets remained relatively stable in aggregate, fluctuating between US$ 8,375 million and US$ 10,211 million. However, the composition of these assets shifted. Cash and cash equivalents exhibited significant volatility, dropping from a high of US$ 2,764 million in 2021 to a low of US$ 984 million in 2022, before recovering to US$ 2,132 million by 2024. Trade receivables peaked in 2021 and 2022 at approximately US$ 4.2 billion before normalizing to US$ 3,526 million in 2024. A consistent downward trend is observed in other current assets, which fell from US$ 2,798 million in 2020 to US$ 597 million in 2024.
Fixed Asset Dynamics and Capital Investment: Property, plant and equipment (PP&E), the primary driver of the total asset base, showed a steady decline from US$ 65,889 million in 2020 to US$ 58,384 million in 2022. This trend reversed sharply in 2024, with PP&E increasing to US$ 69,378 million. This substantial increase suggests a period of aggressive capital expenditure or the acquisition of significant long-term productive assets toward the end of the analyzed period.
Long-Term Strategic Assets: Investments in unconsolidated entities remained largely stagnant, fluctuating within a narrow range between US$ 2.9 billion and US$ 3.2 billion over the five years. In contrast, other long-term assets showed a marked growth pattern, increasing from US$ 1,044 million in 2020 to US$ 2,901 million in 2024, indicating a gradual accumulation of non-PP&E long-term holdings.
Overall Asset Composition: The asset structure is heavily weighted toward long-term assets, which constitute the vast majority of the total balance sheet. The ratio of long-term assets to total assets increased from 88.8% in 2020 to 89.2% in 2024, reinforcing a capital-intensive asset profile centered on fixed infrastructure and long-term investments.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?