Name: Occidental Petroleum Corp. (NYSE:OXY) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Occidental Petroleum Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Current maturities of long-term debt	1,138)	1,202)	165)	186)	440)
Current operating lease liabilities	374)	446)	273)	186)	473)
Accounts payable	3,753)	3,646)	4,029)	3,899)	2,987)
Payroll and related expenses	694)	693)	—)	—)	—)
Income tax payable	471)	25)	—)	—)	—)
Accrued interest payable	446)	336)	—)	—)	—)
Taxes other than on income	442)	618)	—)	—)	—)
Carbon Engineering acquisition payable	393)	300)	—)	—)	—)
Current asset retirement obligations	388)	193)	—)	—)	—)
Dividends payable	354)	307)	—)	—)	—)
Other	1,068)	1,382)	3,290)	4,053)	4,323)
Accrued liabilities	4,256)	3,854)	3,290)	4,053)	4,323)
Current liabilities	9,521)	9,148)	7,757)	8,324)	8,223)
Long-term debt, net, excluding current maturities	24,978)	18,536)	19,670)	29,431)	35,745)
Deferred income taxes, net	5,394)	5,764)	5,512)	7,039)	7,113)
Asset retirement obligations	4,042)	3,882)	3,636)	3,687)	3,977)
Long term tax liabilities	2,204)	2,072)	—)	—)	—)
Environmental remediation liabilities	1,759)	889)	905)	944)	1,028)
Pension and postretirement obligations	1,022)	931)	1,055)	1,540)	1,763)
Non-current operating lease liabilities	614)	727)	657)	585)	641)
Other	1,431)	1,710)	3,332)	3,159)	3,001)
Other deferred credits and liabilities	7,030)	6,329)	5,949)	6,228)	6,433)
Deferred credits and other liabilities	16,466)	15,975)	15,097)	16,954)	17,523)
Noncurrent liabilities	41,444)	34,511)	34,767)	46,385)	53,268)
Total liabilities	50,965)	43,659)	42,524)	54,709)	61,491)
Preferred stock, at $1.00 per share par value	8,287)	8,287)	9,762)	9,762)	9,762)
Common stock, $0.20 per share par value	233)	222)	220)	217)	216)
Treasury stock	(15,597)	(15,582)	(13,772)	(10,673)	(10,665)
Additional paid-in capital	19,868)	17,422)	17,181)	16,749)	16,552)
Retained earnings	21,189)	19,626)	16,499)	4,480)	2,996)
Accumulated other comprehensive income (loss)	179)	275)	195)	(208)	(288)
Stockholders’ equity	34,159)	30,250)	30,085)	20,327)	18,573)
Noncontrolling interest	321)	99)	—)	—)	—)
Total equity	34,480)	30,349)	30,085)	20,327)	18,573)
Total liabilities and equity	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).

The capital structure of the organization has undergone a significant transformation between 2020 and 2024, characterized by an initial aggressive deleveraging phase followed by a strategic increase in liabilities and a consistent expansion of stockholders' equity.

Debt and Liability Trends: Total liabilities exhibited a sharp decline from US$ 61,491 million in 2020 to a low of US$ 42,524 million in 2022. This reduction was primarily driven by a substantial decrease in net long-term debt, which fell from US$ 35,745 million to US$ 19,670 million over the same period. However, a reversal in this trend occurred between 2023 and 2024, with total liabilities rising to US$ 50,965 million, largely due to an increase in net long-term debt to US$ 24,978 million by the end of 2024.
Equity Growth and Retention: Total equity has demonstrated a strong and consistent upward trajectory, growing from US$ 18,573 million in 2020 to US$ 34,480 million in 2024. The primary driver of this growth is the exponential increase in retained earnings, which rose from US$ 2,996 million in 2020 to US$ 21,189 million in 2024. This suggests a period of sustained profitability and a strategic decision to reinvest earnings into the company's capital base.
Shareholder Capital Adjustments: A trend of increasing treasury stock is observable, moving from US$ -10,665 million in 2020 to US$ -15,597 million in 2024, indicating an ongoing program of share repurchases. Additionally, additional paid-in capital saw a notable increase in 2024, reaching US$ 19,868 million, reflecting new capital injections or equity-based transactions.
Current Obligations and Liquidity Pressure: Current liabilities increased from US$ 8,223 million in 2020 to US$ 9,521 million in 2024. A significant shift is noted in the current maturities of long-term debt, which remained relatively low between 2020 and 2022 but spiked to US$ 1,202 million in 2023 and US$ 1,138 million in 2024, signaling a higher volume of debt coming due in the short term. Other increases in current obligations include a rise in income tax payable to US$ 471 million and carbon engineering acquisition payables to US$ 393 million by the end of 2024.
Long-term Environmental and Regulatory Obligations: Environmental remediation liabilities remained relatively stable until 2024, where a significant increase to US$ 1,759 million was recorded. Asset retirement obligations also showed a gradual increase, reaching US$ 4,042 million in 2024, reflecting the long-term cost commitments associated with decommissioning and site restoration.

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