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DIVESTITURES AND OTHER TRANSACTIONS (Tables) | 12 Months Ended
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Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract] |
Summary of Revenues, Costs and Assets Held for Sale of Discontinued Operations | The following table presents the amounts reported in discontinued operations, net of income taxes, related to the Ghana assets for the year ended December 31, 2020 and for the Ghana, Mozambique and South Africa assets subsequent to the Acquisition closing date through December 31, 2019:
millions | 2020 | 2019
Revenues and other income |  |
Net sales | $ | 419 |  | $ | 221 |
Costs and other deductions |  |
Oil and gas lease operating expense | 117 |  | 45 |
Fair value adjustment on assets held for sale | 2,263 |  | 85 |
Other | 48 |  | 45 |
Total costs and other deductions | $ | 2,428 |  | $ | 175 |
Income (loss) before income taxes | $ | (2,009) |  | $ | 46 |
Income tax benefit (expense) | 711 |  | (61) |
Discontinued operations, net of tax | $ | (1,298) |  | $ | (15) |
The following table presents amounts related to the Ghana assets reported as held for sale in the Consolidated Balance Sheet as of December 31, 2020 and the amounts related to the Mozambique, South Africa and Ghana assets reported as held for sale in the Consolidated Balance Sheet as of December 31, 2019, respectively:
millions | 2020 | 2019
Current assets | $ | 37 |  | $ | 40 |
Property, plant and equipment, net | 1,364 |  | 3,720 |
Long-term receivables and other assets, net | 32 |  | 110 |
Assets held for sale | $ | 1,433 |  | $ | 3,870 |
Current liabilities | $ | 84 |  | $ | 264 |
Long-term debt, net - finance leases | 175 |  | 185 |
Deferred income taxes | 328 |  | 1,112 |
Asset retirement obligations | 166 |  | 155 |
Other | — |  | 2 |
Liabilities of assets held for sale | $ | 753 |  | $ | 1,718 |
Net assets held for sale | $ | 680 |  | $ | 2,152 |
ALGERIA OPERATIONS RECLASSIFICATION The following table presents the amounts previously reported in discontinued operations, net of income taxes, for the year ended December 31, 2019 which was reclassified to continuing operations as a result of Occidental's decision to operate in Algeria.
millions |  | Year ended December 31, 2019
Revenues and other income |  |
Net sales |  | $ | 518 |
Costs and other deductions |  |
Oil and gas lease operating expense |  | 36 |
Transportation expense |  | 14 |
Taxes other than on income |  | 133 |
Depreciation, depletion and amortization |  | 159 |
Other |  | 9 |
Total costs and other deductions |  | 351 |
Income before income taxes |  | 167 |
Income tax expense |  | (167) |
Net income of Algeria operations, after taxes |  | $ | — |
The following table presents the amounts previously reported in the Consolidated Balance Sheets as held for sale related to Algeria that were subsequently reclassified as of December 31, 2019:
millions |  | December 31, 2019
Current assets |  | $ | 249 |
Property, plant and equipment, net |  | 1,761 |
Long-term receivables and other assets, net |  | 146 |
Total Assets |  | $ | 2,156 |
Current liabilities |  | $ | 188 |
Non-current liabilities |  | 104 |
Total Liabilities |  | $ | 292 |

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