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Long-Term Debt (Tables) | 9 Months Ended
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Sep. 30, 2020
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | The following table summarizes Occidental's outstanding debt, including finance lease liabilities:
millions |  | September 30, 2020 |  | December 31, 2019
Total borrowings at face value |  | $ | 37,511 |  |  | $ | 37,401 |
Adjustments to book value: |  |  |  |
Unamortized premium, net |  | 765 |  |  | 914 |
Debt issuance costs |  | (144) |  |  | (125) |
Long-term finance leases |  | 292 |  |  | 347 |
Current finance leases |  | 33 |  |  | 51 |
Total debt and finance leases |  | 38,457 |  |  | 38,588 |
Less current maturities of long-term debt and financing leases |  | (2,558) |  |  | (51) |
Long-term debt, net |  | $ | 35,899 |  |  | $ | 38,537 |
The following table summarizes Occidental's debt issuances, repurchases, repayments and exchanges for the nine months ended September 30, 2020:
millions |  | Borrowings at face value
Total borrowings at face value as of December 31, 2019 |  | $ | 37,401 |
Issuance of July 2020 Notes: (a) |  |
8.000% senior notes due 2025 |  | 500 |
8.500% senior notes due 2027 |  | 500 |
8.875% senior notes due 2030 |  | 1,000 |
July tender and purchase: |  |
4.100% senior notes due February 2021 |  | (943) |
Variable rate bonds due February 2021 |  | (473) |
4.850% senior notes due March 2021 |  | (530) |
2.600% senior notes due August 2021 |  | (51) |
Issuance of August 2020 Notes: (b) |  |
5.875% senior notes due 2025 |  | 900 |
6.375% senior notes due 2028 |  | 600 |
6.625% senior notes due 2030 |  | 1,500 |
August and September tender and purchase: |  |
4.100% senior Notes due February 2021 |  | (139) |
Variable rate bonds due August 2021 |  | (122) |
2.600% senior Notes due August 2021 |  | (1,099) |
Variable rate bonds due August 2022 |  | (448) |
2.600% senior Notes due April 2022 |  | (171) |
2.700% senior Notes due August 2022 |  | (102) |
2.700% senior Notes due February 2023 |  | (52) |
August WES exchange: |  |
6.500% note payable to WES due 2038 |  | (260) |
September Term Loan Repayment: |  |
2-year variable rate Term Loan due 2021 |  | (500) |
Total borrowings at face value as of September 30, 2020 |  | $ | 37,511 |
(a) Interest on the July notes will be paid semi-annually in arrears on July 15 and January 15 of each year, commencing on January 15, 2021. (b) Interest on the August notes will be paid semi-annually on March 1 and September 1 of each year, commencing on March 1, 2021.

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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