Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Reported Income

Occidental Petroleum Corp., adjusted current assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current assets	8,375)	8,886)	10,211)	8,819)	18,681)
Adjustments
Add: Allowance for doubtful accounts	29)	37)	35)	24)	19)
Add: LIFO reserve¹	108)	121)	99)	29)	40)
After Adjustment
Adjusted current assets	8,512)	9,044)	10,345)	8,872)	18,740)

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).

¹ LIFO reserve. See details »

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Occidental Petroleum Corp., adjusted total assets

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total assets	74,008)	72,609)	75,036)	80,064)	109,330)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Allowance for doubtful accounts	29)	37)	35)	24)	19)
Add: LIFO reserve²	108)	121)	99)	29)	40)
Less: Foreign deferred tax asset in long-term receivables and other assets, net³	26)	30)	37)	56)	56)
After Adjustment
Adjusted total assets	74,119)	72,737)	75,133)	80,061)	109,333)

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).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² LIFO reserve. See details »

³ Foreign deferred tax asset in long-term receivables and other assets, net. See details »

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Occidental Petroleum Corp., adjusted total liabilities

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total liabilities	43,659)	42,524)	54,709)	61,491)	75,098)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred income tax liability²	5,764)	5,512)	7,039)	7,113)	9,717)
After Adjustment
Adjusted total liabilities	37,895)	37,012)	47,670)	54,378)	65,381)

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).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred income tax liability. See details »

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Occidental Petroleum Corp., adjusted stockholders’ equity

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Stockholders’ equity	30,250)	30,085)	20,327)	18,573)	34,232)
Adjustments
Less: Deferred income tax asset (liability), net¹	(5,738)	(5,482)	(7,002)	(7,057)	(9,661)
Add: Allowance for doubtful accounts	29)	37)	35)	24)	19)
Add: LIFO reserve²	108)	121)	99)	29)	40)
Add: Non-controlling interest	99)	—)	—)	—)	—)
After Adjustment
Adjusted total equity	36,224)	35,725)	27,463)	25,683)	43,952)

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).

¹ Deferred income tax asset (liability), net. See details »

² LIFO reserve. See details »

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Occidental Petroleum Corp., adjusted capitalization table

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current maturities of long-term debt	1,202)	165)	186)	440)	51)
Long-term debt, net, excluding current maturities	18,536)	19,670)	29,431)	35,745)	38,537)
Total reported debt	19,738)	19,835)	29,617)	36,185)	38,588)
Stockholders’ equity	30,250)	30,085)	20,327)	18,573)	34,232)
Total reported capital	49,988)	49,920)	49,944)	54,758)	72,820)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Current operating lease liabilities²	446)	273)	186)	473)	569)
Add: Noncurrent operating lease liabilities³	727)	657)	585)	641)	854)
Adjusted total debt	20,911)	20,765)	30,388)	37,299)	40,011)
Adjustments to Equity
Less: Deferred income tax asset (liability), net⁴	(5,738)	(5,482)	(7,002)	(7,057)	(9,661)
Add: Allowance for doubtful accounts	29)	37)	35)	24)	19)
Add: LIFO reserve⁵	108)	121)	99)	29)	40)
Add: Non-controlling interest	99)	—)	—)	—)	—)
Adjusted total equity	36,224)	35,725)	27,463)	25,683)	43,952)
After Adjustment
Adjusted total capital	57,135)	56,490)	57,851)	62,982)	83,963)

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).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current operating lease liabilities. See details »

³ Noncurrent operating lease liabilities. See details »

⁴ Deferred income tax asset (liability), net. See details »

⁵ LIFO reserve. See details »

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Occidental Petroleum Corp., adjusted net income (loss) attributable to Occidental

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net income (loss) attributable to Occidental	4,696)	13,304)	2,322)	(14,831)	(667)
Adjustments
Add: Deferred income tax expense (benefit)¹	57)	(1,644)	46)	(2,517)	(1,027)
Add: Increase (decrease) in allowance for doubtful accounts	(8)	2)	11)	5)	(2)
Add: Increase (decrease) in LIFO reserve²	(13)	22)	70)	(11)	(7)
Less: Loss from discontinued operations, net of tax	—)	—)	(468)	(1,298)	(15)
Add: Other comprehensive income (loss), net of tax	80)	403)	80)	(67)	(49)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	—)	—)	—)	—)	145)
After Adjustment
Adjusted net income (loss)	4,812)	12,087)	2,997)	(16,123)	(1,592)

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).

¹ Deferred income tax expense (benefit). See details »

² Increase (decrease) in LIFO reserve. See details »

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Occidental Petroleum Corp. (NYSE:OXY)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Reported Income