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ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combinations, Asset Acquisitions, Dispositions and Other Disclosure [Abstract] |
Schedule of acquisition-related costs | The following table summarizes the Acquisition-related costs incurred for the years ended December 31:
millions |  | 2021 | 2020 | 2019
Employee severance and related employee cost |  | $ | 117 |  | $ | 314 |  | $ | 1,033 |
IT costs |  | 36 |  | 9 |  | 15 |
Licensing fees for critical seismic data |  | — |  | — |  | 401 |
Bank, legal, consulting and other |  | — |  | 16 |  | 198 |
Total |  | $ | 153 |  | $ | 339 |  | $ | 1,647 |
Schedule of pro forma financial information | The following table summarizes the unaudited pro forma condensed financial information of Occidental for the year ended December 31, 2019 as if the Acquisition had occurred on January 1, 2018:
millions except per-share amounts |
Revenues | $ | 28,723 |
Net loss attributable to common stockholders (a) | $ | (769) |
Net loss attributable to common stockholders per share—basic | $ | (0.95) |
Net loss attributable to common stockholders per share—diluted | $ | (0.95) |
(a)Excluding the pro-forma results of WES, net loss attributable to common stockholders would be $(1.1) billion for the year ended December 31, 2019.
Schedule of discontinued operations | The following table presents the amounts reported in discontinued operations, net of income taxes, related to the Ghana assets for the years ended December 31, 2021 and 2020 and for the Ghana, Mozambique and South Africa assets subsequent to the Acquisition closing date through December 31, 2019:
millions | 2021 | 2020 | 2019
Revenues and other income |  |  |
Net sales | $ | 458 |  | $ | 419 |  | $ | 221 |
Costs and other deductions |  |  |
Oil and gas lease operating expense | 71 |  | 117 |  | 45 |
Fair value adjustment on assets held for sale (a) | 409 |  | 2,263 |  | 85 |
Other | 24 |  | 48 |  | 45 |
Total costs and other deductions | $ | 504 |  | $ | 2,428 |  | $ | 175 |
Income (loss) before income taxes | $ | (46) |  | $ | (2,009) |  | $ | 46 |
Income tax benefit (expense) | 15 |  | 711 |  | (61) |
Discontinued operations, net of tax | $ | (31) |  | $ | (1,298) |  | $ | (15) |
(a) For 2021, included effective date to close date adjustments as well as settlements of certain tax claims. 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:
millions | 2020
Current assets | $ | 37 |
Property, plant and equipment, net | 1,364 |
Long-term receivables and other assets, net | 32 |
Assets held for sale | $ | 1,433 |
Current liabilities | $ | 84 |
Long-term debt, net - finance leases | 175 |
Deferred income taxes | 328 |
Asset retirement obligations | 166 |
Liabilities of assets held for sale | $ | 753 |
Net assets held for sale | $ | 680 |

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