XML 135 R36.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

LEASE COMMITMENTS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Leases [Abstract] |
Schedule of operating lease maturities | At December 31, 2019, Occidental’s leases expire based on the following schedule:
millions | Operating Leases(a) |  |  | Finance Leases(b) |  |  | Total |
2020 | $ | 555 |  |  | $ | 53 |  |  | $ | 608 |
2021 | 408 |  |  | 45 |  |  | 453 |
2022 | 136 |  |  | 41 |  |  | 177 |
2023 | 99 |  |  | 37 |  |  | 136 |
2024 | 81 |  |  | 34 |  |  | 115 |
Thereafter | 254 |  |  | 275 |  |  | 529 |
Total lease payments | 1,533 |  |  | 485 |  |  | 2,018 |
Less: Interest | (110 | ) |  | (87 | ) |  | (197 | )
Total lease liabilities | $ | 1,423 |  |  | $ | 398 |  |  | $ | 1,821 |
(a) | The weighted-average remaining lease term is 4.6 years and the weighted-average discount rate is 2.53%.
(b) The weighted-average remaining lease term is 11.6 years and the weighted-average discount rate is 3.74%. The following table reconciles the undiscounted cash flows related to the operating and finance lease liabilities assumed in the Acquisition and recorded on the Consolidated Balance Sheet at the Acquisition date:
millions | Operating Leases |  |  | Finance Leases |  |  | Total |
2019 | $ | 90 |  |  | $ | 7 |  |  | $ | 97 |
2020 | 172 |  |  | 17 |  |  | 189 |
2021 | 64 |  |  | 16 |  |  | 80 |
2022 | 42 |  |  | 13 |  |  | 55 |
2023 | 28 |  |  | 8 |  |  | 36 |
Thereafter | 136 |  |  | 43 |  |  | 179 |
Total lease payments | $ | 532 |  |  | $ | 104 |  |  | $ | 636 |
Less: Interest | (44 | ) |  | (18 | ) |  | (62 | )
Total lease liabilities (a) | $ | 488 |  |  | $ | 86 |  |  | $ | 574 |
(a) Excluded operating and finance leases associated with the Africa Assets of $74 million and $201 million, respectively.
Schedule of finance lease maturities | At December 31, 2019, Occidental’s leases expire based on the following schedule:
millions | Operating Leases(a) |  |  | Finance Leases(b) |  |  | Total |
2020 | $ | 555 |  |  | $ | 53 |  |  | $ | 608 |
2021 | 408 |  |  | 45 |  |  | 453 |
2022 | 136 |  |  | 41 |  |  | 177 |
2023 | 99 |  |  | 37 |  |  | 136 |
2024 | 81 |  |  | 34 |  |  | 115 |
Thereafter | 254 |  |  | 275 |  |  | 529 |
Total lease payments | 1,533 |  |  | 485 |  |  | 2,018 |
Less: Interest | (110 | ) |  | (87 | ) |  | (197 | )
Total lease liabilities | $ | 1,423 |  |  | $ | 398 |  |  | $ | 1,821 |
(a) | The weighted-average remaining lease term is 4.6 years and the weighted-average discount rate is 2.53%.
(b) The weighted-average remaining lease term is 11.6 years and the weighted-average discount rate is 3.74%. The following table reconciles the undiscounted cash flows related to the operating and finance lease liabilities assumed in the Acquisition and recorded on the Consolidated Balance Sheet at the Acquisition date:
millions | Operating Leases |  |  | Finance Leases |  |  | Total |
2019 | $ | 90 |  |  | $ | 7 |  |  | $ | 97 |
2020 | 172 |  |  | 17 |  |  | 189 |
2021 | 64 |  |  | 16 |  |  | 80 |
2022 | 42 |  |  | 13 |  |  | 55 |
2023 | 28 |  |  | 8 |  |  | 36 |
Thereafter | 136 |  |  | 43 |  |  | 179 |
Total lease payments | $ | 532 |  |  | $ | 104 |  |  | $ | 636 |
Less: Interest | (44 | ) |  | (18 | ) |  | (62 | )
Total lease liabilities (a) | $ | 488 |  |  | $ | 86 |  |  | $ | 574 |
(a) Excluded operating and finance leases associated with the Africa Assets of $74 million and $201 million, respectively.
Schedule of lease related assets and liabilities | The following table presents lease balances and their location on the Consolidated Balance Sheet at December 31, 2019:
millions |  | Balance sheet location |  | 2019
Assets: |  |  |  |
Operating |  | Operating lease assets |  | $ | 1,385 |
Finance |  | Property, plant and equipment |  | 397 |
Total lease assets |  |  |  | $ | 1,782 |
Liabilities: |  |  |  |
Current |  |  |  |
Operating |  | Current operating lease liabilities |  | $ | 569 |
Finance |  | Current maturities of long-term debt |  | 51 |
Non-current |  |  |  |
Operating |  | Deferred credits and other liabilities - Operating lease liabilities |  | 854 |
Finance |  | Long-term debt, net |  | 347 |
Total lease liabilities |  |  |  | $ | 1,821 |
Schedule of future net minimum lease payments for noncancelable operating leases | 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:
millions |  | Operating Leases |
2019 |  | $ | 186 |
2020 |  | 147 |
2021 |  | 96 |
2022 |  | 68 |
2023 |  | 49 |
Thereafter |  | 158 |
Total minimum lease payments(a) |  | $ | 704 |
(a) | The amount represents the future undiscounted cash flows at December 31, 2018, excluding any amount associated with the Acquisition.
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 and finance lease liabilities:
millions | Year ended December 31, 2019 |
Lease cost classification(a)
Operating lease costs(b) |  |
Property, plant and equipment, net |  | $ | 449 |
Operating expense and cost of sales |  | 391 |
Selling, general and administrative expenses |  | 92 |
Finance lease cost |  |
Amortization of ROU assets |  | 19 |
Interest on lease liabilities |  | 2 |
Total lease cost |  | $ | 953 |
(a) | Amounts reflected are gross before joint-interest recoveries.
(b) | Included short-term lease cost of $404 million for the twelve months ended December 31, 2019, and variable lease cost of $162 million for the twelve months ended December 31, 2019.
millions | Year ended December 31, 2019 |
Operating cash flows |  | $ | 262 |
Investing cash flows |  | $ | 112 |
Financing cash flows (a) |  | $ | 19 |
(a) Excludes cash received of approximately $300 million associated with the failed sale-leaseback, see Note 4 - Acquisitions, Dispositions and Other.

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