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Industry Segments | 9 Months Ended
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Sep. 30, 2019
Segment Reporting [Abstract] |
Industry Segments | Industry Segments Occidental conducts its operations through four segments: (1) Oil and Gas; (2) Chemical; (3) Marketing and Other Midstream; and (4) WES Midstream. Income taxes, interest income, interest expense, environmental remediation expenses, Anadarko merger-related costs and unallocated corporate expenses are included under Corporate and Eliminations. 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:
millions |  | Oil and Gas |  | Chemical |  | Marketing and Other Midstream |  | WES Midstream (a) |  | Corporate and Eliminations |  | Total
Three months ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 3,821 |  |  | $ | 1,071 |  |  | $ | 780 |  |  | $ | 383 |  |  | $ | (368 | ) |  | $ | 5,687 |
Income (loss) from continuing operations before income taxes |  | $ | 221 |  |  | $ | 207 |  |  | $ | 266 |  |  | $ | 134 |  |  | $ | (1,449 | ) | (b) | $ | (621 | )
Income tax expense |  | — |  |  | — |  |  | — |  |  | — |  |  | (116 | ) |  | (116 | )
Income (loss) from continuing operations |  | $ | 221 |  |  | $ | 207 |  |  | $ | 266 |  |  | $ | 134 |  |  | $ | (1,565 | ) |  | $ | (737 | )
Three months ended September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 2,889 |  |  | $ | 1,185 |  |  | $ | 1,367 |  |  | $ | — |  |  | $ | (225 | ) |  | $ | 5,216 |
Income (loss) from continuing operations before income taxes |  | $ | 767 |  |  | $ | 321 |  |  | $ | 1,698 |  |  | $ | — |  |  | $ | (207 | ) |  | $ | 2,579 |
Income tax expense |  | — |  |  | — |  |  | — |  |  | — |  |  | (710 | ) |  | (710 | )
Income (loss) from continuing operations |  | $ | 767 |  |  | $ | 321 |  |  | $ | 1,698 |  |  | $ | — |  |  | $ | (917 | ) |  | $ | 1,869 |
Nine months ended September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 8,890 |  |  | $ | 3,128 |  |  | $ | 2,505 |  |  | $ | 383 |  |  | $ | (795 | ) |  | $ | 14,111 |
Income (loss) from continuing operations before income taxes |  | $ | 1,431 |  |  | $ | 680 |  |  | $ | 876 |  |  | $ | 134 |  |  | $ | (1,945 | ) | (b) | $ | 1,176 |
Income tax expense |  | — |  |  | — |  |  | — |  |  |  |  |  | (647 | ) |  | (647 | )
Income (loss) from continuing operations |  | $ | 1,431 |  |  | $ | 680 |  |  | $ | 876 |  |  | $ | 134 |  |  | $ | (2,592 | ) |  | $ | 529 |
Nine months ended September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 7,874 |  |  | $ | 3,515 |  |  | $ | 2,359 |  |  | $ | — |  |  | $ | (686 | ) |  | $ | 13,062 |
Income (loss) from continuing operations before income taxes |  | $ | 2,297 |  |  | $ | 936 |  |  | $ | 2,127 |  |  | $ | — |  |  | $ | (584 | ) |  | $ | 4,776 |
Income tax expense |  | — |  |  | — |  |  | — |  |  |  |  |  | (1,351 | ) |  | (1,351 | )
Income (loss) from continuing operations |  | $ | 2,297 |  |  | $ | 936 |  |  | $ | 2,127 |  |  | $ | — |  |  | $ | (1,935 | ) |  | $ | 3,425 |
(a) The WES Midstream segment results represent the period from August 8, 2019, the Merger date, through September 30, 2019. (b) The three months ended September 30, 2019 includes merger-related costs of $924 million and amortized debt financing fees of $65 million. The nine months ended September 30, 2019 includes merger-related costs of $974 million and amortized debt financing fees of $122 million.

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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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