Occidental Petroleum 2001 Annual Report Download - page 21

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SEGMENT OPERATIONS
In millions
For the years ended December 31, 2001 2000 1999
================================ ======== ======== ========
SALES
Oil and Gas $ 10,893 $ 9,779 $ 4,599
Chemical 3,092 3,795 3,221
-------- -------- --------
$ 13,985 $ 13,574 $ 7,820
================================ ======== ======== ========
EARNINGS(LOSS)
Oil and Gas $ 2,845 $ 2,417 $ 1,267
Chemical (394) 169 (37)
-------- -------- --------
2,451 2,586 1,230
Unallocated corporate items
Interest expense, net(a) (263) (380) (468)
Income taxes(c) (366) (861) (68)
Trust preferred distributions (56) (67) (62)
and other
Other (b) (580) 291 (64)
-------- -------- --------
Income before extraordinary
items and effect of changes in
accounting principles 1,186 1,569 568
Extraordinary gain(loss), net (8) 1 (107)
Cumulative effect of changes in
accounting principles, net (24) -- (13)
-------- -------- --------
Net Income $ 1,154 $ 1,570 $ 448
================================ ======== ======== ========
(a) The 2001 and 2000 amounts are net of $102 million and $106 million,
respectively, of interest income on notes receivable from Altura partners.
(b) The 2001 amount includes the after-tax loss of $272 million related to the
sale of the entity that owns pipelines in Texas that were leased to a
former subsidiary, a $109 million charge for environmental remediation
expenses and $104 million of preferred distributions to the Altura
partners. The 2000 amount includes the pre-tax gain on the sale of the
CanadianOxy investment of $493 million, partially offset by preferred
distributions to the Altura partners of $107 million. The preferred
distributions are essentially offset by the interest income discussed in
(a) above.
(c) The 2001 amount excludes the income tax benefit of $188 million attributed
to the sale of the entity that owns pipelines in Texas.
<
OIL AND GAS
In millions, except as indicated 2001 2000 1999
===================================== ======== ======== ========
SEGMENT SALES $ 10,893 $ 9,779 $ 4,599
SEGMENT EARNINGS $ 2,845 $ 2,417 $ 1,267
EARNINGS BEFORE SPECIAL ITEMS(a) $ 2,439 $ 2,404 $ 841
NET PRODUCTION PER DAY
UNITED STATES
Crude oil and liquids (MBBL)
California 76 70 52
Permian 137 101 13
U.S. Other -- 1 8
-------- -------- --------
Total 213 172 73
Natural Gas (MMCF)