Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Occidental Petroleum Corp., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Net sales	6,414)	6,803)	6,760)	7,173)	6,817)	5,975)	7,172)	7,158)	6,702)	7,225)	8,219)	9,390)	10,676)	8,349)	7,913)	6,792)	5,958)	5,293)	4,160)	4,108)	2,928)	6,613)
Interest, dividends and other income	44)	59)	41)	60)	34)	36)	32)	50)	28)	29)	31)	37)	36)	49)	24)	18)	49)	75)	30)	21)	33)	34)
Gains (losses) on sales of assets and other, net	(2)	(19)	36)	(79)	28)	(1)	325)	192)	1)	4)	76)	74)	23)	135)	73)	5)	3)	111)	(842)	(846)	15)	7)
Revenues and other income	6,456)	6,843)	6,837)	7,154)	6,879)	6,010)	7,529)	7,400)	6,731)	7,258)	8,326)	9,501)	10,735)	8,533)	8,010)	6,815)	6,010)	5,479)	3,348)	3,283)	2,976)	6,654)
Oil and gas lease operating expense	(1,135)	(1,217)	(1,191)	(1,207)	(1,179)	(1,161)	(1,277)	(1,189)	(1,130)	(1,081)	(1,103)	(1,056)	(1,005)	(864)	(843)	(829)	(712)	(776)	(709)	(656)	(631)	(1,069)
Transportation and gathering expense	(409)	(413)	(443)	(407)	(405)	(353)	(359)	(363)	(375)	(384)	(386)	(378)	(364)	(347)	(366)	(360)	(364)	(329)	(325)	(343)	(367)	(565)
Chemical and midstream cost of sales	(847)	(801)	(752)	(806)	(821)	(742)	(898)	(682)	(791)	(745)	(785)	(835)	(835)	(818)	(771)	(731)	(676)	(594)	(601)	(618)	(577)	(612)
Purchased commodities	—)	—)	(79)	(83)	(89)	(86)	(501)	(520)	(490)	(498)	(660)	(785)	(1,031)	(811)	(675)	(588)	(487)	(558)	(455)	(333)	(214)	(393)
Selling, general and administrative expense	(284)	(267)	(276)	(268)	(259)	(259)	(307)	(258)	(277)	(241)	(258)	(247)	(244)	(196)	(280)	(240)	(177)	(166)	(209)	(166)	(225)	(264)
Other operating and non-operating expense	(497)	(392)	(493)	(334)	(344)	(410)	(438)	(328)	(10)	(308)	(362)	(319)	(291)	(299)	(303)	(256)	(248)	(258)	(342)	(231)	(114)	(197)
Taxes other than on income	(269)	(264)	(283)	(256)	(265)	(235)	(225)	(290)	(266)	(306)	(360)	(427)	(426)	(335)	(262)	(289)	(244)	(210)	(149)	(180)	(68)	(225)
Depreciation, depletion and amortization	(1,936)	(1,917)	(1,977)	(1,926)	(1,775)	(1,693)	(1,723)	(1,712)	(1,709)	(1,721)	(1,819)	(1,736)	(1,728)	(1,643)	(1,966)	(1,916)	(2,371)	(2,194)	(1,754)	(1,915)	(2,119)	(2,309)
Asset impairments and other charges	—)	—)	(1,260)	(21)	—)	—)	—)	—)	(209)	—)	—)	—)	—)	—)	(131)	(17)	(21)	(135)	(87)	(2,723)	(6,470)	(1,803)
Acquisition-related costs	(6)	(6)	(9)	(49)	(14)	(12)	(26)	—)	—)	—)	(7)	(4)	(13)	(65)	(31)	(29)	(52)	(41)	(37)	(5)	(149)	(148)
Exploration expense	(83)	(55)	(69)	(57)	(83)	(66)	(112)	(125)	(102)	(102)	(118)	(47)	(26)	(25)	(107)	(31)	(86)	(28)	(33)	(29)	(33)	(37)
Operating income (loss)	990)	1,511)	5)	1,740)	1,645)	993)	1,663)	1,933)	1,372)	1,872)	2,468)	3,667)	4,772)	3,130)	2,275)	1,529)	572)	190)	(1,353)	(3,916)	(7,991)	(968)
Interest and debt expense, net	(276)	(318)	(327)	(312)	(252)	(284)	(247)	(230)	(230)	(238)	(260)	(285)	(114)	(371)	(385)	(449)	(385)	(395)	(409)	(353)	(310)	(352)
Income (loss) before income taxes and other items	714)	1,193)	(322)	1,428)	1,393)	709)	1,416)	1,703)	1,142)	1,634)	2,208)	3,382)	4,658)	2,759)	1,890)	1,080)	187)	(205)	(1,762)	(4,269)	(8,301)	(1,320)
Gains (losses) on interest rate swaps, net	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(15)	70)	127)	135)	(28)	(26)	(223)	399)	150)	88)	(76)	(585)
Income (loss) from equity investments and other	24)	139)	153)	166)	242)	301)	143)	106)	185)	100)	207)	196)	201)	189)	168)	163)	179)	121)	187)	123)	193)	(133)
Other items	24)	139)	153)	166)	242)	301)	143)	106)	185)	100)	192)	266)	328)	324)	140)	137)	(44)	520)	337)	211)	117)	(718)
Income (loss) from continuing operations before income taxes	738)	1,332)	(169)	1,594)	1,635)	1,010)	1,559)	1,809)	1,327)	1,734)	2,400)	3,648)	4,986)	3,083)	2,030)	1,217)	143)	315)	(1,425)	(4,058)	(8,184)	(2,038)
Income tax (expense) benefit	(270)	(387)	49)	(454)	(465)	(304)	(361)	(434)	(467)	(471)	(473)	(902)	(1,231)	1,793)	(469)	(387)	(43)	(16)	276)	403)	1,468)	25)
Income (loss) from continuing operations	468)	945)	(120)	1,140)	1,170)	706)	1,198)	1,375)	860)	1,263)	1,927)	2,746)	3,755)	4,876)	1,561)	830)	100)	299)	(1,149)	(3,655)	(6,716)	(2,013)
Discontinued operations, net of taxes	—)	—)	—)	—)	—)	182)	—)	—)	—)	—)	—)	—)	—)	—)	(24)	(2)	3)	(445)	37)	80)	(1,415)	—)
Net income (loss)	468)	945)	(120)	1,140)	1,170)	888)	1,198)	1,375)	860)	1,263)	1,927)	2,746)	3,755)	4,876)	1,537)	828)	103)	(146)	(1,112)	(3,575)	(8,131)	(2,013)
Net income attributable to noncontrolling interest	(10)	(9)	(7)	(7)	(8)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net income (loss) attributable to Occidental	458)	936)	(127)	1,133)	1,162)	888)	1,198)	1,375)	860)	1,263)	1,927)	2,746)	3,755)	4,876)	1,537)	828)	103)	(146)	(1,112)	(3,575)	(8,131)	(2,013)
Preferred stock dividends	(170)	(170)	(170)	(169)	(170)	(170)	(169)	(219)	(255)	(280)	(200)	(200)	(200)	(200)	(200)	(200)	(200)	(200)	(200)	(203)	(222)	(219)
Net income (loss) attributable to common stockholders	288)	766)	(297)	964)	992)	718)	1,029)	1,156)	605)	983)	1,727)	2,546)	3,555)	4,676)	1,337)	628)	(97)	(346)	(1,312)	(3,778)	(8,353)	(2,232)

Net Sales and Revenues: Net sales demonstrate a notable recovery and growth following a significant decline in early 2020, reaching a peak in mid-2022 before experiencing some fluctuations. From March 2020 to June 2020, there was a sharp drop, followed by steady increases through 2021 and 2022. The trend stabilizes somewhat with moderate variability through 2023 into early 2025.
Interest, Dividends and Other Income: This income category remains relatively stable, with minor fluctuations around a consistent level, showing some moderate increases during certain quarters but no significant trend upward or downward.
Gains and Losses on Sales of Assets: There were significant losses during the middle of 2020 but subsequent quarters reflect intermittent gains, with some substantial positive spikes in late 2021 and 2023. The pattern suggests occasional successful asset sales contributing positively to income, with volatility over time.
Operating Expenses: Major operating expense categories including oil and gas lease operating, transportation and gathering, and chemical and midstream costs display steady or moderately increasing trends over the periods analyzed. Notably, oil and gas lease operating expenses showed a gradual increase post-2020 while transportation expenses also slightly increased but with less consistency. Chemical and midstream costs peaked during 2021 and fluctuated thereafter.
Purchased Commodities: Purchased commodities expense shows a substantial increase starting in late 2020 through mid-2022, reflecting increased procurement costs or volumes, followed by a decrease and some missing data towards later periods, indicating possible changes in cost management or reporting.
Selling, General and Administrative Expenses: SG&A expenses show moderate volatility without a clear directional trend, generally remaining within a certain range across all quarters. Some spikes occur in late 2022 and 2023, possibly indicating increased administrative activities or costs.
Other Operating and Non-operating Expenses: These expenses vary significantly between quarters, with occasional marked increases, such as in late 2022 and mid-2023, indicating episodic charges or operational challenges that do not follow a consistent pattern.
Taxes Other Than Income: Tax expenses show an increasing trend through 2021 and beyond, with notable peaks in certain quarters, suggesting rising tax liabilities correlating with improved operating performance.
Depreciation, Depletion, and Amortization: This expense category shows a general declining trend from early 2020 through the following years, stabilizing around a consistent range, indicating steady asset usage and amortization policies over time.
Asset Impairments and Other Charges: Significant impairments occurred especially in early-to-mid 2020, with considerable charges that diminished dramatically in later periods, pointing to restructuring or write-down events primarily concentrated during the 2020 downturn.
Exploration Expense: Exploration expenses have varied over time without a clear upward or downward trend, showing some peaks in mid to late 2021 and mid-2022, which could reflect shifting exploration activities or investment cycles.
Operating Income (Loss): Operating performance improved markedly following a severe loss in early 2020, transitioning into consistent positive operating income through 2021 and 2022, with some decline and variability in 2023 and 2024. The recovery points to effective cost control and revenue growth during the period.
Interest and Debt Expense, Net: Interest and debt expenses generally declined beginning in 2022 relative to prior periods, indicating potential debt reduction or refinancing activities leading to improved net expense management.
Pre-Tax Income and Other Items: Income before taxes and other items corresponds closely with the trends observed in operating income, showing positive momentum from 2021 onward, although with notable variability in certain quarters, reflecting underlying volatility in income-generating factors.
Income from Equity Investments and Other: This component remains relatively stable with minor fluctuations, generally contributing positively to income, indicating consistent returns from equity investments or related assets.
Income (Loss) from Continuing Operations Before Income Taxes: This metric shows a strong recovery from substantial losses in 2020 to sustained profitability in subsequent years, peaking around 2022 and maintaining positive results through early 2025, although some quarters reflect decreased profitability relative to peak levels.
Income Tax Expense (Benefit): Income tax expenses correspond to profitability trends, with significant benefits recorded in 2020 reflecting losses, transitioning to expenses from 2021 onward aligned with resumed earnings. There is variability indicating impacts from tax planning or regulatory changes.
Net Income: Net income follows the general pattern of loss in early 2020 followed by recovery and profitable quarters thereafter. The peak net incomes appear in 2022, with some decline in subsequent years. The net income attributable to common stockholders similarly follows this trajectory but with sharper negative swings in 2020 and smaller positive gains post-recovery.
Net Income Attributable to Noncontrolling Interests and Preferred Dividends: Noncontrolling interest impacts are minimal and relatively stable. Preferred stock dividends remain fairly consistent throughout the periods, reflecting stable dividend policy on preferred shares, despite some adjustments in amounts starting in 2023.

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Occidental Petroleum Corp. (NYSE:OXY)

Income Statement Quarterly Data

Income Statement
Quarterly Data