XML 43 R33.htm IDEA: XBRL DOCUMENT
v3.19.2

Leases (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2019
Leases [Abstract] |
Schedule of Lease Related Assets and Liabilities | The following table presents Occidental's lease balances and their location on the consolidated condensed balance sheet at June 30, 2019 (in millions):
|  | Balance sheet location |  | 2019
Assets: |  |  |  |
Operating |  | Operating lease assets, net |  | $ | 681 |
Finance |  | Property, plant, and equipment, net |  | 19 |
Total lease assets |  |  |  | $ | 700 |
Liabilities: |  |  |  |
Current |  |  |  |
Operating |  | Current lease liabilities |  | $ | 242 |
Finance |  | Current lease liabilities |  | 10 |
Non-current |  |  |  |
Operating |  | Deferred credits and other liabilities - Lease liabilities |  | 437 |
Finance |  | Deferred credits and other liabilities - Lease liabilities |  | 8 |
Total lease liabilities |  |  |  | $ | 697 |
Schedule of Operating Lease Maturities | At June 30, 2019, Occidental's leases matured on the following schedule (in millions):
|  | Operating |  | Finance |  |
|  | Leases (a) |  | Leases (b) |  | Total
Remainder of 2019 |  | $ | 122 |  |  | $ | 6 |  |  | $ | 128 |
2020 |  | 190 |  |  | 12 |  |  | 202 |
2021 |  | 116 |  |  | 1 |  |  | 117 |
2022 |  | 81 |  |  | — |  |  | 81 |
2023 |  | 61 |  |  | — |  |  | 61 |
Thereafter |  | 170 |  |  | — |  |  | 170 |
Total lease payments |  | 740 |  |  | 19 |  |  | 759 |
Less: Interest |  | (61 | ) |  | (1 | ) |  | (62 | )
Present value of lease liabilities |  | $ | 679 |  |  | $ | 18 |  |  | $ | 697 |
(a) | The weighted average remaining lease term is 5.5 years and the weighted average discount rate is 3.03%.
(b) The weighted average remaining lease term is 1.8 years and the weighted average discount rate is 2.93%.
Schedule of Finance Lease Maturities | At June 30, 2019, Occidental's leases matured on the following schedule (in millions):
|  | Operating |  | Finance |  |
|  | Leases (a) |  | Leases (b) |  | Total
Remainder of 2019 |  | $ | 122 |  |  | $ | 6 |  |  | $ | 128 |
2020 |  | 190 |  |  | 12 |  |  | 202 |
2021 |  | 116 |  |  | 1 |  |  | 117 |
2022 |  | 81 |  |  | — |  |  | 81 |
2023 |  | 61 |  |  | — |  |  | 61 |
Thereafter |  | 170 |  |  | — |  |  | 170 |
Total lease payments |  | 740 |  |  | 19 |  |  | 759 |
Less: Interest |  | (61 | ) |  | (1 | ) |  | (62 | )
Present value of lease liabilities |  | $ | 679 |  |  | $ | 18 |  |  | $ | 697 |
(a) | The weighted average remaining lease term is 5.5 years and the weighted average discount rate is 3.03%.
(b) The weighted average remaining lease term is 1.8 years and the weighted average discount rate is 2.93%.
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 and six months ended June 30, 2019 (in millions):
Lease cost classification(a,b) |  | Three months ended June 30, 2019 |  | Six months ended June 30, 2019
Property, plant and equipment, net |  | $ | 91 |  |  | $ | 182 |
Cost of sales |  | 61 |  |  | 138 |
Selling, general and administrative expenses |  | 19 |  |  | 35 |
Total |  | $ | 171 |  |  | $ | 355 |
(a) | Includes short-term lease costs of $70 million and variable lease costs of $29 million for the three months ended June 30, 2019. Includes short-term lease costs of $156 million and variable lease costs of $60 million for the six months ended June 30, 2019.
(b) | Amounts reflected are gross before joint interest recoveries.
Cash paid on operating leases(a) |  | Six months ended June 30, 2019
Cash flow from operating activities |  | $ | 95 |
Cash flow from investing activities |  | $ | 44 |
(a) Amounts reflected are gross before joint interest recoveries.

X
- Definition Assets And Liabilities, Lessee [Table Text Block] + References No definition available. + Details
Name: | oxy_AssetsAndLiabilitiesLesseeTableTextBlock
Namespace Prefix: | oxy_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance 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
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
Name: | us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration