Name: Occidental Petroleum Corp. (NYSE:OXY) | Statement of Comprehensive Income
Creator: Stock Analysis on Net

Statement of Comprehensive Income

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

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Occidental Petroleum Corp., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net income (loss)	3,078)	4,696)	13,304)	2,322)	(14,831)
Gains (losses) on derivatives	(5)	44)	80)	14)	4)
Pension and postretirement gains (losses)	(89)	34)	321)	67)	(71)
Other	(2)	2)	2)	(1)	—)
Other comprehensive income (loss), net of tax	(96)	80)	403)	80)	(67)
Comprehensive income (loss)	2,982)	4,776)	13,707)	2,402)	(14,898)
Comprehensive income attributable to noncontrolling interest	(22)	—)	—)	—)	—)
Comprehensive income (loss) attributable to preferred and common stockholders	2,960)	4,776)	13,707)	2,402)	(14,898)

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).

Financial performance between 2020 and 2024 is characterized by significant volatility, featuring a severe initial contraction followed by a sharp recovery and a subsequent period of moderation.

Net Income Trends: A substantial net loss of 14,831 million USD was recorded in 2020. This was followed by a return to profitability in 2021, with net income reaching a peak of 13,304 million USD in 2022. Since that peak, a downward trend is observed, with net income decreasing to 4,696 million USD in 2023 and further declining to 3,078 million USD in 2024.
Other Comprehensive Income (OCI) Dynamics: Other comprehensive income, net of tax, exhibited fluctuating results, ranging from a low of -96 million USD in 2024 to a high of 403 million USD in 2022. The primary drivers of OCI were pension and postretirement gains and gains on derivatives. Both components reached their highest positive values in 2022, contributing 321 million USD and 80 million USD respectively, but both transitioned to negative values by 2024.
Comprehensive Income and Attribution: Total comprehensive income closely tracked the trajectory of net income, recovering from a loss of 14,898 million USD in 2020 to a peak of 13,707 million USD in 2022, before settling at 2,982 million USD by the end of 2024. While comprehensive income was entirely attributable to preferred and common stockholders from 2020 through 2023, the 2024 period introduced a comprehensive income attribution to noncontrolling interests amounting to 22 million USD.

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