XML 92 R43.htm IDEA: XBRL DOCUMENT v3.25.0.1

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Net income before income taxes, for all periods presented, was generated from domestic operations. The following table summarizes components of our income tax provision:

			Year ended December 31,
			2024						2023						2022
			(in millions)
Federal			$	42					$	146					$	10
State and local			27						3						1
Current			69						149						11
Federal			$	51					$	(12)					$	141
State and local			20						47						85
Deferred tax provision			71						35						226
Total income tax provision			$	140					$	184					$	237

Schedule of Income Taxes Paid

Income taxes paid by jurisdiction are as follows:

			Year ended December 31,
			2024						2023
			(in millions)
Federal			$	73					$	120
State and local			32						1
Total taxes paid			$	105					$	121

Schedule of U.S. Federal Income Tax Statutory Rate

Our effective tax rate differs from the amount computed by applying the U.S. federal income tax statutory rate to income before income taxes as follows:

			Year ended December 31,
			2024									2023									2022
			Amount			Percent						Amount			Percent						Amount			Percent
U.S. federal statutory tax rate			$	108		21		%				$	157		21		%				$	160		21		%
State and local income taxes, net of federal income tax effect(a)			38			7						40			5						68			9
Tax credits
Marginal well credit			(12)			(2)						—			—						(8)			(1)
Other tax credit			—			—						(1)			—						(5)			(1)
Nontaxable or nondeductible items			9			2						6			1						4			1
Change in valuation allowances			—			—						(17)			(2)						17			2
Other adjustments			(3)			(1)						(1)			—						1			—
Effective tax rate			$	140		27		%				$	184		25		%				$	237		31		%

(a)State and local income taxes are predominately in California.

Schedule of Tax Effects of Temporary differences Resulting in Deferred Income Taxes

The tax effects of temporary differences resulting in deferred income tax assets and liabilities at December 31, 2024 and 2023 were as follows:

			2024												2023
			Deferred Tax Assets						Deferred Tax Liabilities						Deferred Tax Assets						Deferred Tax Liabilities
			(in millions)
Property, plant and equipment			$	—					$	(700)					$	19					$	(286)
Deferred compensation and benefits			66						—						40						—
Asset retirement obligations			342						—						157						—
Interest expense carryforward			158						—						161						—
All other			169						(75)						96						(55)
Total deferred taxes			$	735					$	(775)					$	473					$	(341)

X

- Definition

Schedule Of Income Taxes Paid

+ References

No definition available.

+ Details

Name:	crc_ScheduleOfIncomeTaxesPaidTableTextBlock
Namespace Prefix:	crc_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration