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Leases (Tables) | 3 Months Ended
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Mar. 31, 2019
Leases [Abstract] |
Schedule of Lease Related Assets and Liabilities | The following table presents Occidental's lease balances and their location on the balance sheet at March 31, 2019 (in millions):
|  | Balance sheet location |  | 2019
Assets: |  |  |  |
Operating |  | Operating lease assets |  | $ | 684 |
Finance |  | Property, plant, and equipment, net |  | 23 |
Total leased assets |  |  |  | $ | 707 |
Liabilities: |  |  |  |
Current |  |  |  |
Operating |  | Current lease liabilities |  | $ | 229 |
Finance |  | Current lease liabilities |  | 11 |
Non-current |  |  |  |
Operating |  | Deferred credits and other liabilities - Lease liabilities |  | 453 |
Finance |  | Deferred credits and other liabilities - Lease liabilities |  | 12 |
Total lease liabilities |  |  |  | $ | 705 |
Schedule of Operating Lease Maturities | At March 31, 2019, Occidental's leases matured on the following schedule (in millions):
|  | Operating |  | Finance |  |
|  | Leases (a) |  | Leases (b) |  | Total
Remainder of 2019 |  | $ | 166 |  |  | $ | 9 |  |  | $ | 175 |
2020 |  | 167 |  |  | 12 |  |  | 179 |
2021 |  | 110 |  |  | 1 |  |  | 111 |
2022 |  | 78 |  |  | 1 |  |  | 79 |
2023 |  | 53 |  |  | 1 |  |  | 54 |
Thereafter |  | 170 |  |  | — |  |  | 170 |
Total lease payments |  | 744 |  |  | 24 |  |  | 768 |
Less: Interest |  | (62 | ) |  | (1 | ) |  | (63 | )
Present value of lease liabilities |  | $ | 682 |  |  | $ | 23 |  |  | $ | 705 |
(a) The weighted average remaining lease term is 5.7 years and the weighted average discount rate is 3.12%. (b) The weighted average remaining lease term is 2.5 years and the weighted average discount rate is 2.95%.
Schedule of Finance Lease Maturities | At March 31, 2019, Occidental's leases matured on the following schedule (in millions):
|  | Operating |  | Finance |  |
|  | Leases (a) |  | Leases (b) |  | Total
Remainder of 2019 |  | $ | 166 |  |  | $ | 9 |  |  | $ | 175 |
2020 |  | 167 |  |  | 12 |  |  | 179 |
2021 |  | 110 |  |  | 1 |  |  | 111 |
2022 |  | 78 |  |  | 1 |  |  | 79 |
2023 |  | 53 |  |  | 1 |  |  | 54 |
Thereafter |  | 170 |  |  | — |  |  | 170 |
Total lease payments |  | 744 |  |  | 24 |  |  | 768 |
Less: Interest |  | (62 | ) |  | (1 | ) |  | (63 | )
Present value of lease liabilities |  | $ | 682 |  |  | $ | 23 |  |  | $ | 705 |
(a) The weighted average remaining lease term is 5.7 years and the weighted average discount rate is 3.12%. (b) The weighted average remaining lease term is 2.5 years and the weighted average discount rate is 2.95%.
Schedule of Future Net Minimum Fixed Lease Payments | At December 31, 2018, future undiscounted net minimum fixed lease payments for non-cancellable operating leases, prepared in accordance with accounting standards prior to the adoption of ASC 842, were as follows (in millions):
|  | Amount
2019 |  | $ | 186 |
2020 |  | 147 |
2021 |  | 96 |
2022 |  | 68 |
2023 |  | 49 |
Thereafter |  | 158 |
Total minimum lease payments |  | $ | 704 |
Schedule of Lease Costs | The following tables present Occidental's total lease cost and classifications as well as cash paid for amounts included in the measurement of operating lease liabilities. Lease costs and amounts paid associated with finance leases were immaterial for the three months ended March 31, 2019 (in millions):
Lease cost classification(a,b) |  |
Property, plant and equipment, net |  | $ | 91 |
Cost of sales |  | 77 |
Selling, general and administrative expenses |  | 16 |
Total |  | $ | 184 |
Cash paid on operating leases(b) |  |
Cash flow from operating activities |  | $ | 48 |
Cash flow from investing activities |  | $ | 19 |
(a) Includes short-term lease costs of $86 million and variable lease costs of $31 million. (b) Amounts reflected are gross before joint interest recoveries.

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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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