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Industry Segments (Tables) | 9 Months Ended
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Sep. 30, 2016
Industry Segments |
Industry segment and corporate disclosures | The following tables present Occidental’s industry segments (in millions):
|  | Oil |  |  |  | Midstream |  | Corporate |  |  |
|  | and |  |  |  | and |  | and |  |  |
|  | Gas |  | Chemical |  | Marketing |  | Eliminations |  | Total
Three months ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 1,660 |  | $ | 988 |  | $ | 202 |  | $ | (202) |  | $ | 2,648
Pre-tax operating profit (loss) |  | $ | (51) | (a) | $ | 117 |  | $ | (180) |  | $ | (154) | (b) | $ | (268)
Income taxes |  | — |  | — |  | — |  | 30 | (c) | 30
Discontinued operations, net |  | — |  | — |  | — |  | (3) |  | (3)
Net income (loss) |  | $ | (51) |  | $ | 117 |  | $ | (180) |  | $ | (127) |  | $ | (241)
Three months ended September 30, 2015 |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 2,054 |  | $ | 1,008 |  | $ | 231 |  | $ | (177) |  | $ | 3,116
Pre-tax operating profit (loss) |  | $ | (3,128) | (d) | $ | 272 | (e) | $ | 24 |  | $ | (219) | (b) | $ | (3,051)
Income taxes |  | — |  | — |  | — |  | 445 | (c) | 445
Discontinued operations, net |  | — |  | — |  | — |  | (3) |  | (3)
Net income (loss) |  | $ | (3,128) |  | $ | 272 |  | $ | 24 |  | $ | 223 |  | $ | (2,609)
|  | Oil |  |  |  | Midstream |  | Corporate |  |  |
|  | and |  |  |  | and |  | and |  |  |
|  | Gas |  | Chemical |  | Marketing |  | Eliminations |  | Total |
Nine months ended September 30, 2016 |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 4,560 |  | $ | 2,786 |  | $ | 476 |  | $ | (520) |  | $ | 7,302 |
Pre-tax operating profit (loss) |  | $ | (653) | (a) | $ | 419 | (e) | $ | (333) |  | $ | (496) | (b) | $ | (1,063) |
Income taxes |  | — |  | — |  | — |  | 329 | (c) | 329 |
Discontinued operations, net |  | — |  | — |  | — |  | 432 |  | 432 |
Net income (loss) |  | $ | (653) |  | $ | 419 |  | $ | (333) |  | $ | 265 |  | $ | (302) |
Nine months ended September 30, 2015 |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 6,405 |  | $ | 3,038 |  | $ | 722 |  | $ | (491) |  | $ | 9,674 |
Pre-tax operating profit (loss) |  | $ | (3,039) | (d) | $ | 547 | (e) | $ | 96 |  | $ | (385) | (b) | $ | (2,781) |
Income taxes |  | — |  | — |  | — |  | 140 | (c) | 140 |
Discontinued operations, net |  | — |  | — |  | — |  | (10) |  | (10) |
Net income (loss) |  | $ | (3,039) |  | $ | 547 |  | $ | 96 |  | $ | (255) |  | $ | (2,651) |
| (a) |  | The three and nine months ended September 30, 2016 include pre-tax impairment charges of $112 million related to Occidental’s Libya operations and $160 million related to terminated crude oil supply contracts partially offset by pre-tax gains of $59 million on the sale of South Texas Eagle Ford non-operated properties. The nine months ended September 30, 2016 also reflected a $121 million pre-tax gain on the sale of Occidental’s Piceance Basin operations in Colorado.
| (b) |  | Includes unallocated net interest expense, administration expense, environmental remediation and other pre-tax items.
| (c) |  | Includes all foreign and domestic income taxes from continuing operations.
| (d) |  | The three months ended September 30, 2015 includes pre-tax impairment charges of $3.1 billion. In September 2015, Occidental entered into a sales agreement to sell its Williston operations in North Dakota, and as such an impairment charge of $756 million was recorded to write down the net book value of the assets and liabilities held for sale to the sales price. Due to the significant decline in oil and gas futures prices, Occidental also recorded impairment charges on proved and unproved properties related to Occidental’s domestic gas operations of $924 million, Iraq operations of $760 million and Libya operations of $676 million. The nine months ended September 30, 2015 also reflected first quarter impairment charges of $195 million for Occidental’s South Texas Eagle Ford non-operated properties and $41 million to write-off the remaining investment in Yemen due to the collapse of the country’s government.
| (e) |  | The nine months ended September 30, 2016 and 2015 include gains on sale of the Occidental Tower and Indspec for $88 million and an idled chemical site for $98 million, respectively.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
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