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INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Tables) | 12 Months Ended
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Dec. 31, 2017
INVESTMENTS AND RELATED-PARTY TRANSACTIONS |
Summarized financial information of equity-method investments |
For the years ended December 31, (in millions) |  | 2017 |  | 2016 |  | 2015 |
Revenues |  | $ | 1,252 |  | $ | 1,238 |  | $ | 1,050 |
Costs and expenses |  | 973 |  | 1,043 |  | 827 |
Net income |  | $ | 279 |  | $ | 195 |  | $ | 223 |
As of December 31, (in millions) |  | 2017 |  | 2016 |  |  |
Current assets |  | $ | 602 |  | $ | 914 |  |  |
Non-current assets |  | $ | 2,072 |  | $ | 3,605 |  |  |
Current liabilities |  | $ | 247 |  | $ | 577 |  |  |
Long-term debt |  | $ | 1,174 |  | $ | 1,957 |  |  |
Other non-current liabilities |  | $ | 66 |  | $ | 159 |  |  |
Stockholders’ equity |  | $ | 1,187 |  | $ | 1,826 |  |  |
Summary of related-party transactions |
For the years ended December 31, (in millions) |  | 2017 |  | 2016 |  | 2015 |
Sales (a) |  | $ | 636 |  | $ | 602 |  | $ | 555 |
Purchases (b) |  | $ | 387 |  | $ | 7 |  | $ | 26 |
Services |  | $ | 38 |  | $ | 17 |  | $ | 32 |
Advances and amounts due from |  | $ | 63 |  | $ | 59 |  | $ | 60 |
Amounts due to |  | $ | 45 |  | $ | — |  | $ | 5 |
| (a) |  | In 2017, 2016 and 2015, sales of Occidental-produced oil and NGLs to Plains Pipeline affiliates accounted for 86 percent, 89 percent and 87 percent of these totals, respectively. Sales to Plains Pipeline affiliates related to Occidental’s oil and gas production are disclosed above. In addition to these sales, Occidental conducts marketing activities with Plains Pipeline affiliates for oil, NGLs and transportation. Net margins associated with these marketing activities are negligible.
| (b) |  | In 2017, purchases of ethylene from the Ingleside ethylene cracker accounted for 98 percent of related-party purchases.

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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