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Divestitures and Other Transactions | 3 Months Ended
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Mar. 31, 2021
Discontinued Operations and Disposal Groups and Equity Method And Joint Ventures [Abstract] |
Divestitures and Other Transactions |
NOTE 2 - DIVESTITURES AND OTHER TRANSACTIONS
DIVESTITURES In March 2021, Occidental completed the sale of certain non-operated assets in the DJ Basin for net cash proceeds of approximately $280 million. The difference in the asset’s net book value and adjusted purchase price was treated as a recovery of cost and normal retirement, which resulted in no gain or loss being recognized. ALGERIA OPERATIONS - RECLASSIFICATION In April 2020, Occidental decided to continue to operate within Algeria. As a result, beginning in the second quarter of 2020, the Algerian operations were no longer classified as held for sale or within discontinued operations. The following table presents the amounts previously reported in discontinued operations, net of income taxes, which were reclassified to continuing operations for the three months ended March 31, 2020.
millions |  | Three months ended March 31, 2020
Revenues and other income |  |
Net sales |  | $ | 203 |
Costs and other deductions |  |
Oil and gas lease operating expense |  | 23 |
Transportation expense |  | 7 |
Taxes other than on income |  | 43 |
Depreciation, depletion and amortization |  | 67 |
Other |  | 6 |
Total costs and other deductions |  | 146 |
Income before income taxes |  | 57 |
Income tax expense |  | (57) |
Net income of Algeria operations, after taxes |  | $ | — |

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