XML 73 R43.htm IDEA: XBRL DOCUMENT
v3.20.4

INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Investments And Related Party Transactions Disclosure [Abstract] |
Schedule of significant equity investments | As of December 31, 2020, Occidental’s significant equity investments primarily consisted of the following:
millions |  | % Interest |  | Carrying amount
WES (a) |  | 53.5 | % |  | $ | 1,930 |
OxyChem Ingleside Facility |  | 50.0 | % |  | 635 |
Dolphin Energy Limited |  | 24.5 | % |  | 290 |
Other |  | various |  | 395 |
Total |  |  |  | $ | 3,250 |
(a) During most of 2019, WES was a consolidated variable interest entity. On December 31, 2019, Occidental unconsolidated WES. See Note 1 - Summary of Significant Accounting Policies for more information on the accounting treatment and resulting equity interest. In the first quarter of 2020, Occidental recorded an impairment of $1.2 billion in goodwill related to its ownership in WES and in the third quarter of 2020, recorded an other than temporary impairment of $2.7 billion related to the WES equity method investment. See Note 17 - Fair Value Measurements for more information on the impairments.
Summarized financial information of equity-method investments | The following table presents the summarized financial information of its equity-method investments combined for the years ended and as of December 31:
millions |  | 2020 |  | 2019 |  | 2018
Summarized Results of Operations (a) |  |  |  |  |  |
Revenues and other income |  | $ | 5,455 |  |  | $ | 26,520 |  |  | $ | 28,091 |
Costs and expenses |  | 5,455 |  |  | 24,084 |  |  | 25,029 |
Net income |  | $ | — |  |  | $ | 2,436 |  |  | $ | 3,062 |
Summarized Balance Sheet |  |  |  |  |  |
Current assets |  | $ | 1,419 |  |  | $ | 1,130 |  |  | $ | 5,587 |
Non-current assets |  | $ | 18,693 |  |  | $ | 21,158 |  |  | $ | 25,871 |
Current liabilities |  | $ | 1,549 |  |  | $ | 785 |  |  | $ | 4,879 |
Long-term debt |  | $ | 7,860 |  |  | $ | 8,673 |  |  | $ | 12,505 |
Other non-current liabilities |  | $ | 866 |  |  | $ | 859 |  |  | $ | 95 |
Stockholders’ equity |  | $ | 9,837 |  |  | $ | 11,971 |  |  | $ | 13,979 |
(a)The 2019 Summarized Results of Operations include results of Plains for the period beginning January 1, 2019 through the date Occidental’s interest was sold in September 2019. Plains accounted for $24.7 billion of equity-method investment revenues and other income in 2019.
Summary of related-party transactions | During 2020, 2019 and 2018, Occidental entered into the following related-party transactions and had the following amounts due from or to its related parties for the years ended December 31:
millions |  | 2020 |  | 2019 |  | 2018
Sales (a,c) |  | $ | 301 |  |  | $ | 691 |  |  | $ | 805 |
Purchases (b,c) |  | $ | 1,112 |  |  | $ | 463 |  |  | $ | 502 |
Services (d) |  | $ | 1,032 |  |  | $ | 28 |  |  | $ | 52 |
Advances and amounts due from related parties |  | $ | 54 |  |  | $ | 133 |  |  | $ | 63 |
Amounts due to related parties |  | $ | 273 |  |  | $ | 463 |  |  | $ | 46 |
(a)In 2020, sales of Occidental-produced NGL and marketing fees to WES accounted for 70% of these totals. In 2019 and 2018, sales of Occidental-produced oil and NGL to Plains Pipeline affiliates accounted for 87% and 89% of these totals, respectively. In September 2019, Occidental sold its equity investment in Plains. See Note 4 - Divestitures and Other Transactions for additional information. (b)In 2020, purchases of gas and NGL marketed on behalf of WES accounted for 59% of related-party purchases. In 2020, 2019 and 2018, purchases of ethylene from the Ingleside ethylene cracker accounted for 41%, 98% and 98% of related-party purchases, respectively. (c)Excluded sales to and purchases from WES in 2019 as it was a consolidated subsidiary from the date of the Acquisition through December 31, 2019. (d)In 2020, services primarily relates to fees charged by WES to gather, process and treat Occidental produced oil, NGL and natural gas.

X
- Definition Investments And Related Party Transactions Disclosure [Abstract] + References No definition available. + Details
Name: | oxy_InvestmentsAndRelatedPartyTransactionsDisclosureAbstract
Namespace Prefix: | oxy_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Ownership Interests in Equity Investments [Table Text Block] + References No definition available. + Details
Name: | oxy_ScheduleofOwnershipInterestsinEquityInvestmentsTableTextBlock
Namespace Prefix: | oxy_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
Name: | us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration