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Segments (Tables) | 3 Months Ended
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Mar. 31, 2021
Segment Reporting [Abstract] |
Schedule of industry segments | The following table presents Occidental’s industry segments:
millions |  | Oil and gas (a) |  | Chemical |  | Midstream and marketing (b) |  | Corporate and eliminations (c) |  | Total
Three months ended March 31, 2021 |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 3,664 |  |  | $ | 1,088 |  |  | $ | 807 |  |  | $ | (266) |  |  | $ | 5,293 |
Income (loss) from continuing operations before income taxes |  | $ | (62) |  |  | $ | 251 |  |  | $ | 282 |  |  | $ | (156) |  |  | $ | 315 |
Income tax expense |  | — |  |  | — |  |  | — |  |  | (16) |  |  | (16) |
Income (loss) from continuing operations |  | $ | (62) |  |  | $ | 251 |  |  | $ | 282 |  |  | $ | (172) |  |  | $ | 299 |
Three months ended March 31, 2020 |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 5,060 |  |  | $ | 962 |  |  | $ | 790 |  |  | $ | (199) |  |  | $ | 6,613 |
Income (loss) from continuing operations before income taxes |  | $ | 236 |  |  | $ | 186 |  |  | $ | (1,287) |  |  | $ | (1,173) |  |  | $ | (2,038) |
Income tax benefit |  | — |  |  | — |  |  | — |  |  | 25 |  |  | 25 |
Income (loss) from continuing operations |  | $ | 236 |  |  | $ | 186 |  |  | $ | (1,287) |  |  | $ | (1,148) |  |  | $ | (2,013) |
(a) The 2021 amount included a $135 million impairment charge related to non-core domestic undeveloped leases that either expired in the first quarter of 2021 or were set to expire in the near-term, where Occidental had no plans to pursue exploration activities. The 2020 amount included $317 million related to domestic asset impairments and other charges, a $952 million gain on the oil collars and calls and a $264 million impairment charge related to international assets. (b) The 2021 amount included a $102 million gain from the sale of 11.5 million limited partner units in WES. The 2020 amount included a $1.4 billion impairment related to the write-off of goodwill and a loss from an equity investment related to WES' write-off of its goodwill. (c) The 2021 amount included a $399 million gain on interest rate swaps and $41 million in Anadarko acquisition-related costs. The 2020 amount included $148 million in expenses related to Anadarko acquisition-related costs, a $669 million loss on interest rate swaps and an $84 million gain on the Berkshire warrants.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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