XML 28 R9.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
CASH FLOW FROM OPERATING ACTIVITIES      
Net income / (loss) $ (3,554) $ (1,434) [1] $ 869
Adjustments to reconcile net income / (loss) to net cash provided by operating activities:      
Depreciation, depletion and amortization 1,004 1,198 1,144
Asset impairments 4,852 3,402  
Deferred income tax expense / (benefit) (2,258) (1,152) 260
Other noncash tax provision 310    
Other noncash charges to income, net 187 113 29
Dry hole expenses 9 101 72
Changes in operating assets and liabilities. net:      
(Increase) decrease in receivables, net 47 146 (8)
(Increase) decrease in inventories   2 8
(Increase) decrease in other current assets 18 (133) 2
Increase (decrease) in accounts payable and accrued liabilities (212) 128 100
Net cash provided by operating activities 403 2,371 2,476
CASH FLOW FROM INVESTING ACTIVITIES      
Capital investments (401) (2,089) (1,669)
Changes in capital investment accruals (205) 69  
Acquisitions and other (151) (292) (44)
Net cash used by investing activities (757) (2,312) (1,713)
CASH FLOW FROM FINANCING ACTIVITIES      
Proceeds from revolving credit facility 2,035 515  
Repayments of revolving credit facility (1,656) (155)  
Issuance of senior notes   5,000  
Issuance of term loan   1,000  
Debt issuance costs   (70)  
Debt repurchase and amendment costs (23)    
Issuance of common stock 8    
Cash dividends paid (12)    
(Distributions to) contributions from Occidental, net   (335) (763)
Dividends to Occidental   (6,000)  
Net cash provided (used) by financing activities 352 (45) $ (763)
(Decrease) increase in cash and cash equivalents (2) 14  
Cash and cash equivalents - beginning of year 14    
Cash and cash equivalents - end of year $ 12 $ 14  
[1] Net income of $683 million related to operations from January 1, 2014 through the spin-off date of November 30, 2014 was included in Net Parent Company Investment. The net loss of $2,117 million for the month ended December 31, 2014 reflected our accumulated deficit as of that date as a stand-alone company.