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LONG-TERM DEBT (Tables) | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | As of June 30, 2023 and December 31, 2022, Occidental’s debt consisted of the following:
millions | June 30, 2023 | December 31, 2022 |  |  |  |
8.750% medium-term notes due 2023 | $ | — |  | $ | 22 |  |  |  |  |
2.900% senior notes due 2024 | 654 |  | 654 |  |  |  |  |
6.950% senior notes due 2024 | 291 |  | 291 |  |  |  |  |
3.450% senior notes due 2024 | 111 |  | 111 |  |  |  |  |
5.875% senior notes due 2025 | 606 |  | 606 |  |  |  |  |
3.500% senior notes due 2025 | 137 |  | 137 |  |  |  |  |
5.500% senior notes due 2025 | 465 |  | 465 |  |  |  |  |
5.550% senior notes due 2026 | 870 |  | 870 |  |  |  |  |
3.200% senior notes due 2026 | 182 |  | 182 |  |  |  |  |
3.400% senior notes due 2026 | 284 |  | 284 |  |  |  |  |
7.500% debentures due 2026 | 112 |  | 112 |  |  |  |  |
8.500% senior notes due 2027 | 489 |  | 489 |  |  |  |  |
3.000% senior notes due 2027 | 216 |  | 216 |  |  |  |  |
7.125% debentures due 2027 | 150 |  | 150 |  |  |  |  |
7.000% debentures due 2027 | 48 |  | 48 |  |  |  |  |
6.625% debentures due 2028 | 14 |  | 14 |  |  |  |  |
7.150% debentures due 2028 | 232 |  | 232 |  |  |  |  |
7.200% senior debentures due 2028 | 82 |  | 82 |  |  |  |  |
6.375% senior notes due 2028 | 578 |  | 578 |  |  |  |  |
7.200% debentures due 2029 | 135 |  | 135 |  |  |  |  |
7.950% debentures due 2029 | 116 |  | 116 |  |  |  |  |
8.450% senior notes due 2029 | 116 |  | 116 |  |  |  |  |
3.500% senior notes due 2029 | 286 |  | 286 |  |  |  |  |
Variable rate bonds due 2030 (5.920% and 5.320% as of June 30, 2023 and December 31, 2022, respectively) | 68 |  | 68 |  |  |  |  |
8.875% senior notes due 2030 | 1,000 |  | 1,000 |  |  |  |  |
6.625% senior notes due 2030 | 1,449 |  | 1,449 |  |  |  |  |
6.125% senior notes due 2031 | 1,143 |  | 1,143 |  |  |  |  |
7.500% senior notes due 2031 | 900 |  | 900 |  |  |  |  |
7.875% senior notes due 2031 | 500 |  | 500 |  |  |  |  |
6.450% senior notes due 2036 | 1,727 |  | 1,727 |  |  |  |  |
Zero Coupon senior notes due 2036 | 673 |  | 673 |  |  |  |  |
4.300% senior notes due 2039 | 247 |  | 247 |  |  |  |  |
7.950% senior notes due 2039 | 325 |  | 325 |  |  |  |  |
6.200% senior notes due 2040 | 737 |  | 737 |  |  |  |  |
4.500% senior notes due 2044 | 191 |  | 191 |  |  |  |  |
4.625% senior notes due 2045 | 296 |  | 296 |  |  |  |  |
6.600% senior notes due 2046 | 1,117 |  | 1,117 |  |  |  |  |
4.400% senior notes due 2046 | 424 |  | 424 |  |  |  |  |
4.100% senior notes due 2047 | 258 |  | 258 |  |  |  |  |
(continued on next page) |  |  |  |  |  |
millions (continued) | 2023 | 2022 |  |  |  |
4.200% senior notes due 2048 | 304 |  | 304 |  |  |  |  |
4.400% senior notes due 2049 | 280 |  | 280 |  |  |  |  |
7.730% debentures due 2096 | 58 |  | 58 |  |  |  |  |
7.500% debentures due 2096 | 60 |  | 60 |  |  |  |  |
7.250% debentures due 2096 | 5 |  | 5 |  |  |  |  |
Total borrowings at face value | $ | 17,936 |  | $ | 17,958 |  |  |  |  |
The following table summarizes Occidental's outstanding debt, including finance lease liabilities:
millions | June 30, 2023 | December 31, 2022
Total borrowings at face value | $ | 17,936 |  | $ | 17,958 |
Adjustments to book value: |  |
Unamortized premium, net | 1,213 |  | 1,261 |
Debt issuance costs | (67) |  | (73) |
Net book value of debt | $ | 19,082 |  | $ | 19,146 |
Long-term finance leases | 587 |  | 546 |
Current finance leases | 158 |  | 143 |
Total debt and finance leases | $ | 19,827 |  | $ | 19,835 |
Less: current maturities of financing leases | (158) |  | (143) |
Less: current maturities of long-term debt | — |  | (22) |
Long-term debt, net | $ | 19,669 |  | $ | 19,670 |

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