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ACQUISITIONS AND DIVESTITURES | 3 Months Ended
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Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
ACQUISITIONS AND DIVESTITURES |
NOTE 5 - ACQUISITIONS AND DIVESTITURES
CROWNROCK ACQUISITION In December 2023, Occidental entered into an agreement to purchase CrownRock, L.P. for total consideration of $12.4 billion. The CrownRock Acquisition qualified as a business combination and was accounted for using the acquisition method of accounting. For the three months ended March 31, 2025, there were no material changes to the allocation presented in the 2024 Form 10-K. As of March 31, 2025, Occidental has substantially completed the allocation of the consideration; however, Occidental continues to finalize customary purchase price adjustments, which are not expected to be material. The following summarizes the unaudited pro forma condensed financial information of Occidental as if the CrownRock Acquisition had occurred on January 1, 2024:
|  | Three months ended March 31, 2024
millions, except per-share amounts |
Revenues |  | $ | 6,587 |
Net income attributable to common stockholders |  | $ | 798 |
Net income attributable to common stockholders per share—basic |  | $ | 0.87 |
Net income attributable to common stockholders per share—diluted |  | $ | 0.81 |
DIVESTITURES During the first quarter of 2025, Occidental sold non-core proved and unproved royalty and mineral interests in the DJ Basin for approximately $900 million and certain non-core Permian Basin assets for approximately $400 million. The difference in the assets' net book value and adjusted purchase price was treated as a normal retirement, and as a result no gain or loss was recognized.

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- Definition Description of significant business acquisitions (or series of individually immaterial business combinations or asset acquisitions) planned, initiated, or completed during the period, including background, timing, and allocation of acquisition costs. Includes description of significant business or asset dispositions completed during the period, including background, timing and disclosures for discontinued operations, if applicable. Also includes description of other applicable transactions. This element may be used as a single block of text to encapsulate all disclosures (including data and tables) regarding business combinations, asset acquisitions, business or asset dispositions, including leverage buyout transactions and other transactions. + References No definition available. + Details
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