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INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS | 12 Months Ended
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Dec. 31, 2018
Segment Reporting [Abstract] |
INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS |
NOTE 17 | INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS
Results of industry segments and geographic areas exclude income taxes, interest income, interest expense, environmental remediation expenses, unallocated corporate expenses and discontinued operations, but include gains and losses from dispositions of segment and geographic area assets and income from the segments' equity investments. Intersegment sales eliminate upon consolidation and are generally made at prices approximating those that the selling entity would be able to obtain in third-party transactions. Identifiable assets are those assets used in the operations of the segments. Corporate assets consist of cash and restricted cash, certain corporate receivables and PP&E.
Industry Segments |  |  |  |  |  |  |  |  |  |
(in millions) |  | Oil and Gas |  | Chemical |  | Midstream and Marketing |  | Corporate and Eliminations |  | Total
Year ended December 31, 2018 |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 10,441 |  | (a) | $ | 4,657 |  | (b) | $ | 3,656 |  | (c) | $ | (930 | ) |  | $ | 17,824 |
Pretax operating profit (loss) |  | $ | 2,442 |  | (d) | $ | 1,159 |  |  | $ | 2,802 |  | (e) | $ | (795 | ) | (f) | $ | 5,608 |
Income taxes |  | — |  |  | — |  |  | — |  |  | (1,477 | ) | (g) | (1,477 | )
Net income (loss) attributable to common stock |  | $ | 2,442 |  |  | $ | 1,159 |  |  | $ | 2,802 |  |  | $ | (2,272 | ) |  | $ | 4,131 |
Investments in unconsolidated entities |  | $ | — |  |  | $ | 733 |  |  | $ | 947 |  |  | $ | — |  |  | $ | 1,680 |
Property, plant and equipment additions, net (h) |  | $ | 4,443 |  |  | $ | 277 |  |  | $ | 221 |  |  | $ | 79 |  |  | $ | 5,020 |
Depreciation, depletion and amortization |  | $ | 3,254 |  |  | $ | 354 |  |  | $ | 331 |  |  | $ | 38 |  |  | $ | 3,977 |
Total assets |  | $ | 24,874 |  |  | $ | 4,359 |  |  | $ | 11,087 |  |  | $ | 3,534 |  |  | $ | 43,854 |
Year ended December 31, 2017 |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 7,870 |  | (a) | $ | 4,355 |  | (b) | $ | 1,157 |  | (c) | $ | (874 | ) |  | $ | 12,508 |
Pretax operating profit (loss) |  | $ | 1,111 |  | (d) | $ | 822 |  |  | $ | 85 |  | (e) | $ | (690 | ) | (f) | $ | 1,328 |
Income taxes |  | — |  |  | — |  |  | — |  |  | (17 | ) | (g) | (17 | )
Net income (loss) attributable to common stock |  | $ | 1,111 |  |  | $ | 822 |  |  | $ | 85 |  |  | $ | (707 | ) |  | $ | 1,311 |
Investments in unconsolidated entities |  | $ | — |  |  | $ | 771 |  |  | $ | 739 |  |  | $ | 5 |  |  | $ | 1,515 |
Property, plant and equipment additions, net (h) |  | $ | 2,968 |  |  | $ | 323 |  |  | $ | 296 |  |  | $ | 64 |  |  | $ | 3,651 |
Depreciation, depletion and amortization |  | $ | 3,269 |  |  | $ | 352 |  |  | $ | 340 |  |  | $ | 41 |  |  | $ | 4,002 |
Total assets |  | $ | 23,595 |  |  | $ | 4,364 |  |  | $ | 11,775 |  |  | $ | 2,292 |  |  | $ | 42,026 |
Year ended December 31, 2016 |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 6,377 |  | (a) | $ | 3,756 |  | (b) | $ | 684 |  | (c) | $ | (727 | ) |  | $ | 10,090 |
Pretax operating profit (loss) |  | $ | (636 | ) | (d) | $ | 571 |  | (i) | $ | (381 | ) | (e) | $ | (1,218 | ) | (f) | $ | (1,664 | )
Income taxes |  | — |  |  | — |  |  | — |  |  | 662 |  | (g) | 662 |
Discontinued operations, net |  | — |  |  | — |  |  | — |  |  | 428 |  | (j) | 428 |
Net income (loss) attributable to common stock |  | $ | (636 | ) |  | $ | 571 |  |  | $ | (381 | ) |  | $ | (128 | ) |  | $ | (574 | )
Investments in unconsolidated entities |  | $ | — |  |  | $ | 730 |  |  | $ | 666 |  |  | $ | 5 |  |  | $ | 1,401 |
Property, plant and equipment additions, net (h) |  | $ | 1,998 |  |  | $ | 353 |  |  | $ | 370 |  |  | $ | 59 |  |  | $ | 2,780 |
Depreciation, depletion and amortization |  | $ | 3,575 |  |  | $ | 340 |  |  | $ | 313 |  |  | $ | 40 |  |  | $ | 4,268 |
Total assets |  | $ | 24,130 |  |  | $ | 4,348 |  |  | $ | 11,059 |  |  | $ | 3,572 |  |  | $ | 43,109 |
(See footnotes on next page) |  |  |  |  |  |  |  |  |  |  |
Footnotes:
(a) | Oil sales represented approximately 90 percent of the oil and gas segment net sales for the years ended December 31, 2018, 2017 and 2016.
(b) | Net sales for the chemical segment comprised the following products:
|  | Basic Chemicals |  | Vinyls |  | Other Chemicals
Year ended December 31, 2018 |  | 59% |  | 41% |  | —
Year ended December 31, 2017 |  | 57% |  | 42% |  | 1%
Year ended December 31, 2016 |  | 57% |  | 40% |  | 3%
(c) | Net sales for the midstream and marketing segment comprised the following:
|  | Marketing |  | Gas Plants |  | Power |  | Other Midstream and Marketing
Year ended December 31, 2018 |  | 62% |  | 27% |  | 10% |  | 1%
Year ended December 31, 2017 |  | (11)% |  | 69% |  | 29% |  | 13%
Year ended December 31, 2016 |  | (52)% |  | 92% |  | 44% |  | 16%
(d) | The 2018 amount includes $416 million for the impairment of proved oil properties and inventory in Qatar ISND and ISSD due to the decline in crude oil prices.The 2017 amount includes pre-tax asset sale gains of $655 million primarily related to South Texas and non-core acreage in the Permian basin and $397 million for the impairment of non-core proved and unproved Permian acreage. The 2016 amount includes pre-tax asset sale gains of $121 million and $59 million related to Piceance and South Texas oil and gas properties, pre-tax charges of $61 million related to the sale of Libya and the exit from Iraq, and pre-tax gain of $24 million for other related items.
(e) | The 2018 amount includes pre-tax asset sale gains of $907 million on the sale of non-core domestic midstream assets. The 2017 amount includes pre-tax charges of $120 million related to asset impairments of idled facilities. The 2016 amount includes pre-tax charges of $160 million related to the termination of crude oil supply contracts.
(f) | There were no significant corporate transactions and events affecting 2018 and 2017 results. Significant corporate transactions and events affecting 2016 earnings, included charges of $541 million related to a reserve for doubtful accounts, $78 million loss on the distribution of the remaining CRC stock and gains related to the Ecuador settlement. The tax effect of these pre-tax adjustments, as well as those in footnotes (d), (e), (i), and (j) was $198 million, $392 million, and $424 million for the years ended December 31, 2018, 2017, and 2016, respectively.
(g) | Includes all foreign and domestic income taxes from continuing operations.
(h) | Includes capital expenditures and capitalized interest, but excludes acquisition and disposition of assets.
(i) | The 2016 amount includes gain on sale of $57 million and $31 million related to Occidental Tower in Dallas, Texas, and a non-core specialty chemicals business, respectively.
(j) | Includes discontinued operations from Ecuador.
GEOGRAPHIC AREAS
(in millions) |  | Net sales (a) |  | Property, plant and equipment, net
For the years ended December 31, |  | 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017 |  | 2016
United States |  | $ | 13,351 |  |  | $ | 8,959 |  |  | $ | 7,017 |  |  | $ | 23,594 |  |  | $ | 22,863 |  |  | $ | 24,004 |
International |  |  |  |  |  |  |  |  |  |  |  |
Qatar |  | 1,701 |  |  | 1,394 |  |  | 1,206 |  |  | 741 |  |  | 1,236 |  |  | 1,299 |
Oman |  | 1,667 |  |  | 1,397 |  |  | 1,101 |  |  | 2,048 |  |  | 1,962 |  |  | 1,858 |
United Arab Emirates |  | 1,021 |  |  | 808 |  |  | 664 |  |  | 4,051 |  |  | 4,241 |  |  | 4,373 |
Colombia |  | 715 |  |  | 555 |  |  | 463 |  |  | 927 |  |  | 807 |  |  | 741 |
Other International |  | 299 |  |  | 269 |  |  | 366 |  |  | 76 |  |  | 65 |  |  | 62 |
Total International |  | 5,403 |  |  | 4,423 |  |  | 3,800 |  |  | 7,843 |  |  | 8,311 |  |  | 8,333 |
Eliminations |  | (930 | ) |  | (874 | ) |  | (727 | ) |  | — |  |  | — |  |  | — |
Total |  | $ | 17,824 |  |  | $ | 12,508 |  |  | $ | 10,090 |  |  | $ | 31,437 |  |  | $ | 31,174 |  |  | $ | 32,337 |
(a) | Sales are shown by individual country based on the location of the entity making the sale.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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