Stock Analysis on Net
Stock Analysis on Net

Occidental Petroleum Corp. (NYSE:OXY)

$24.99

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Current maturities of long-term debt
Current operating lease liabilities
Accounts payable
Payroll and related expenses
Income tax payable
Accrued interest payable
Taxes other than on income
Carbon Engineering acquisition payable
Current asset retirement obligations
Dividends payable
Other
Accrued liabilities
Current liabilities
Long-term debt, net, excluding current maturities
Deferred income taxes, net
Asset retirement obligations
Long term tax liabilities
Environmental remediation liabilities
Pension and postretirement obligations
Non-current operating lease liabilities
Other
Other deferred credits and liabilities
Deferred credits and other liabilities
Noncurrent liabilities
Total liabilities
Preferred stock, at $1.00 per share par value
Common stock, $0.20 per share par value
Treasury stock
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income (loss)
Stockholders’ equity
Noncontrolling interest
Total equity
Total liabilities and equity

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).

Current Liabilities
Current maturities of long-term debt showed a fluctuating trend, decreasing from 440 million in 2020 to 165 million in 2022, followed by a sharp increase to 1202 million in 2023 and a slight decline to 1138 million in 2024. Current operating lease liabilities decreased significantly in 2021 but rose again in 2022 and 2023 before declining somewhat in 2024. Accounts payable increased from 2987 million in 2020 to a peak of 4029 million in 2022 before decreasing to 3646 million in 2023 and rising slightly to 3753 million in 2024.
New or previously unreported items such as payroll and related expenses, income tax payable, accrued interest payable, taxes other than on income, Carbon Engineering acquisition payable, current asset retirement obligations, and dividends payable all appear starting in 2023, indicating either a change in reporting or new liabilities emerging. These amounts add significant detail to the current liabilities in recent years.
Accrued liabilities decreased from 4323 million in 2020 to 3290 million in 2022, then increased markedly to 4256 million in 2024. Overall, total current liabilities remained somewhat stable from 2020 to 2022, decreased slightly in 2022, and then increased again in 2023 and 2024, reaching 9521 million.
Long-term Debt and Noncurrent Liabilities
Long-term debt excluding current maturities exhibited a consistent decline from 35745 million in 2020 to 18536 million in 2023, reflecting substantial debt reduction efforts, but then increased to 24978 million in 2024, suggesting a possible new borrowing or restructuring.
Deferred income taxes decreased gradually from 7113 million in 2020 to 5394 million in 2024. Asset retirement obligations remained relatively stable between 3600 and 4000 million throughout the period. Environmental remediation liabilities declined from 1028 million in 2020 to 889 million in 2023 but then nearly doubled to 1759 million in 2024. Pension and postretirement obligations decreased steadily from 1763 million in 2020 to 931 million in 2023, then increased moderately to 1022 million in 2024.
Non-current operating lease liabilities exhibited minor fluctuations but a slight downward trend overall, from 641 million in 2020 to 614 million in 2024. Other deferred credits and liabilities remained stable but showed a slight increase from 6433 million in 2020 to 7030 million in 2024. Long-term tax liabilities appeared starting 2023, increasing from 2072 million to 2204 million in 2024.
Noncurrent liabilities declined significantly from 53268 million in 2020 to 34511 million in 2023, then increased to 41444 million in 2024, mirroring the pattern seen in long-term debt.
Total Liabilities
Total liabilities decreased steadily from 61491 million in 2020 to 42524 million in 2022, before rising slightly to 43659 million in 2023 and more substantially to 50965 million in 2024. This reflects a reduction in liabilities over the initial years, followed by increases in the latter years of the period analyzed.
Stockholders’ Equity
Preferred stock remained constant at 9762 million through 2022, then decreased to 8287 million from 2023 onward. Common stock showed a gradual increase from 216 million in 2020 to 233 million in 2024, indicating share issuance or adjusted par value.
Treasury stock increased in magnitude (more negative) from -10665 million in 2020 to -15597 million in 2024, reflecting ongoing share repurchases or other treasury stock activities.
Additional paid-in capital increased steadily from 16552 million in 2020 to 19868 million in 2024, signifying growing capital contributions beyond par value.
Retained earnings increased markedly from 2996 million in 2020 to 21189 million in 2024, indicating strong profitability or accumulation of earnings over the period.
Accumulated other comprehensive income improved from a negative 288 million in 2020 to positive 179 million in 2024, suggesting favorable changes in comprehensive income components.
Stockholders’ equity rose from 18573 million in 2020 to 34159 million in 2024, demonstrating growth in the company’s net worth. Noncontrolling interest emerged in 2023 with modest values rising to 321 million in 2024, contributing marginally to total equity.
Total equity followed a similar upward trajectory, increasing from 18573 million in 2020 to 34480 million in 2024.
Total Liabilities and Equity
The combined total of liabilities and equity decreased from 80064 million in 2020 to 72609 million in 2022, then increased steadily to reach 85445 million in 2024. This indicates an initial contraction followed by an expansion in the size of the balance sheet at the end of the period.