Balance Sheet: Assets
Quarterly Data
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.
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Occidental Petroleum Corp., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and cash equivalents
- The cash balance exhibited significant volatility, peaking around mid-2021 followed by a decline into early 2023. A recovery trend is notable from early 2024 onward, with cash levels increasing steadily through 2Q 2025.
- Trade receivables, net of reserves
- Trade receivables generally trended upward from 2020 through mid-2022, reaching a peak before experiencing declines and fluctuating moderately thereafter through mid-2025.
- Joint interest receivables
- Data on joint interest receivables is missing until 2025, where modest amounts are recorded, showing a slight decrease from 1Q to 3Q 2025.
- Inventories
- Inventory levels rose steadily from 2020 into early 2021, then decreased through early 2022. This was followed by a rise into mid-2023 and subsequent fluctuations but an overall modest decline towards mid-2025.
- Other current assets
- Other current assets dropped sharply from the first quarter of 2020 through early 2021, showing stabilization and minor fluctuations thereafter, but a notable decrease occurred in 2024 and 2025.
- Current assets
- Current assets experienced a sharp fall in mid-2020, then a recovery and fluctuations without a clear upward trajectory through mid-2025, ultimately ending below early 2020 levels.
- Investments in unconsolidated entities
- These investments declined sharply in late 2020, then stabilized and fluctuated slightly with small downward trends toward mid-2025.
- Oil and gas assets
- Oil and gas assets were relatively stable over the entire period, with only moderate increases noted from 2022 onward, except for a marked increase starting 1Q 2024 continuing through 2Q 2025.
- Chemical assets
- Chemical assets showed steady, incremental growth over the entire period, reflecting continuous modest investment or accumulation in this segment.
- Midstream and marketing assets
- Midstream and marketing assets grew steadily through 2021, dipped in 2022, and resumed growth from late 2022 through mid-2025, showing an overall positive trend with minor interruptions.
- Corporate assets
- Corporate assets remained relatively stable, fluctuating mildly within a narrow range throughout the period, experiencing a slight increase beginning in 2021 with minor variations afterward.
- Property, plant, and equipment, gross
- Gross PP&E peaked at the end of 2020, declined during 2021, then trended upward steadily from 2022 through mid-2025, indicating ongoing capital expenditures.
- Accumulated depreciation, depletion, and amortization
- This account consistently increased in magnitude (negatively) over the entire period, reflecting ongoing asset wear and amortization, with some volatility toward late 2024 and 2025.
- Property, plant, and equipment, net
- Net PP&E declined steadily through 2023, reflecting depreciation outpacing gross additions, but experienced a sharp increase beginning in 1Q 2024, before slightly declining again by mid-2025.
- Operating lease assets
- Operating lease assets declined from 2020 through early 2021, followed by fluctuations and a modest recovery toward the end of 2023 and again in 2Q 2025, showing some variability but no clear overall trend.
- Other long-term assets
- Other long-term assets were relatively stable until a notable jump in 2023, subsequently maintaining higher levels with minor fluctuations into mid-2025.
- Long-term assets
- Long-term assets followed a downward trend from 2020 through 2021, remaining relatively flat through 2023, then rising significantly in 2024 before leveling off toward mid-2025.
- Total assets
- Total assets declined sharply from early 2020 through 2021, stabilized with minor fluctuations until 2023, and then increased markedly from 2024 onward, reaching its highest levels near 1H 2024 before slight declines into mid-2025.