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.

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

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Current maturities of long-term debt	1,202)	165)	186)	440)	51)
Current operating lease liabilities	446)	273)	186)	473)	569)
Accounts payable	3,646)	4,029)	3,899)	2,987)	7,017)
Accrued liabilities	3,854)	3,290)	4,053)	4,323)	7,312)
Current liabilities	9,148)	7,757)	8,324)	8,223)	14,949)
Long-term debt, net, excluding current maturities	18,536)	19,670)	29,431)	35,745)	38,537)
Deferred income taxes, net	5,764)	5,512)	7,039)	7,113)	9,717)
Asset retirement obligations	3,882)	3,636)	3,687)	3,977)	4,385)
Pension and postretirement obligations	931)	1,055)	1,540)	1,763)	1,807)
Environmental remediation liabilities	889)	905)	944)	1,028)	1,035)
Noncurrent operating lease liabilities	727)	657)	585)	641)	854)
Other	3,782)	3,332)	3,159)	3,001)	3,814)
Deferred credits and other liabilities	15,975)	15,097)	16,954)	17,523)	21,612)
Noncurrent liabilities	34,511)	34,767)	46,385)	53,268)	60,149)
Total liabilities	43,659)	42,524)	54,709)	61,491)	75,098)
Preferred stock, at $1.00 per share par value	8,287)	9,762)	9,762)	9,762)	9,762)
Common stock, $0.20 per share par value	222)	220)	217)	216)	209)
Treasury stock	(15,582)	(13,772)	(10,673)	(10,665)	(10,653)
Additional paid-in capital	17,422)	17,181)	16,749)	16,552)	14,955)
Retained earnings	19,626)	16,499)	4,480)	2,996)	20,180)
Accumulated other comprehensive income (loss)	275)	195)	(208)	(288)	(221)
Stockholders’ equity	30,250)	30,085)	20,327)	18,573)	34,232)
Non-controlling interest	99)	—)	—)	—)	—)
Total equity	30,349)	30,085)	20,327)	18,573)	34,232)
Total liabilities and stockholders’ equity	74,008)	72,609)	75,036)	80,064)	109,330)

Based on: 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), 10-K (reporting date: 2019-12-31).

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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	Occidental Petroleum Corp. current liabilities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Noncurrent liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Occidental Petroleum Corp. noncurrent liabilities decreased from 2021 to 2022 and from 2022 to 2023.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	Occidental Petroleum Corp. total liabilities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Stockholders’ equity	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	Occidental Petroleum Corp. stockholders’ equity increased from 2021 to 2022 and from 2022 to 2023.

Occidental Petroleum Corp. (NYSE:OXY)

Balance Sheet: Liabilities and Stockholders’ Equity