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Industry Segments | 3 Months Ended
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Mar. 31, 2019
Segment Reporting [Abstract] |
Industry Segments | Industry Segments Occidental conducts its operations through three segments: (1) oil and gas; (2) chemical; and (3) midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, NGL and natural gas. The chemical segment mainly manufactures and markets basic chemicals and vinyls. The midstream and marketing segment purchases, markets, gathers, processes, transports and stores oil, condensate, NGL, natural gas, carbon dioxide (CO 2) and power. It also trades around its assets, including transportation and storage capacity. Additionally, the midstream and marketing segment invests in entities that conduct similar activities. Results of industry segments generally 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 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. The following tables present Occidental’s industry segments (in millions):
|  | Oil |  |  |  | Midstream |  | Corporate |  |
|  | and |  |  |  | and |  | and |  |
|  | Gas |  | Chemical |  | Marketing |  | Eliminations |  | Total
Three months ended March 31, 2019 |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 2,351 |  |  | $ | 1,059 |  |  | $ | 816 |  |  | $ | (222 | ) |  | $ | 4,004 |
Pre-tax operating profit (loss) |  | $ | 484 |  |  | $ | 265 |  |  | $ | 279 |  |  | $ | (172 | ) | (a) | $ | 856 |
Income taxes |  | — |  |  | — |  |  | — |  |  | (225 | ) | (b) | (225 | )
Net income (loss) |  | $ | 484 |  |  | $ | 265 |  |  | $ | 279 |  |  | $ | (397 | ) |  | $ | 631 |
Three months ended March 31, 2018 |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 2,454 |  |  | $ | 1,154 |  |  | $ | 389 |  |  | $ | (234 | ) |  | $ | 3,763 |
Pre-tax operating profit (loss) |  | $ | 750 |  |  | $ | 298 |  |  | $ | 179 |  |  | $ | (180 | ) | (a) | $ | 1,047 |
Income taxes |  | — |  |  | — |  |  | — |  |  | (339 | ) | (b) | (339 | )
Net income (loss) |  | $ | 750 |  |  | $ | 298 |  |  | $ | 179 |  |  | $ | (519 | ) |  | $ | 708 |
(a) Includes unallocated net interest expense, administration expense, environmental remediation and other items. (b) Includes all foreign and domestic income taxes.

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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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