Occidental Petroleum 2001 Annual Report Download - page 24

Download and view the complete annual report

Please find page 24 of the 2001 Occidental Petroleum annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 116

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116

Consolidated Statements of Operations that may affect comparability between
years. These items are listed below to assist in understanding the results of
Occidental's operations on an ongoing basis. The special items included in the
2001, 2000 and 1999 results are detailed below. For further information, see
Note 15 to the Consolidated Financial Statements and the discussion above.
SPECIAL ITEMS
Benefit (Charge) In millions 2001 2000 1999
========================================= ======= ======= =======
OIL AND GAS
Gain on sale of interest in the
Indonesian Tangguh LNG project(a) $ 399 $ -- $ --
Gain on sale of additional interests in
Gulf of Mexico assets(a) 7 -- --
Gain on partial sale of Gulf of Mexico
assets(a) -- 39 --
Write-down of various assets, real
estate and investments -- (53) (9)
Loss on sale of office building(a) -- (14) --
Chevron litigation settlement(a) -- -- 488
Write-down of Peru producing
operations(a) -- -- (29)
Claims, settlements,
reorganization and other -- -- (35)
Gain on buyout of contingency
payment(a) -- 41 --
Gain on receipt of contingency
payment -- -- 11
----------------------------------------- ------- ------- -------
CHEMICAL
Write-down of Equistar investment $ (412) $ -- $ --
Credit from state tax rate adjustment 14 -- --
Write-down of chemical intermediate
businesses and various assets -- (135) (159)
Gain on sale of Durez business(a) -- 13 --
Loss on foreign investment
abandonment (a) -- (2) --
Write-downs by Equistar -- -- (28)
Severance, plant shutdown, idling and
plant write-down costs (37) -- --
Gain on sale of chemical plant by
Equistar -- -- 12
Claims and settlements -- -- (9)
----------------------------------------- ------- ------- -------
CORPORATE
Loss on sale of pipeline-owning
entity (a) $ (272) $ -- $ --
Environmental remediation (109) -- --
Settlement of state tax issue 70 -- --
Gain on sale of CanadianOxy
investment -- 493 --
Claims and settlements -- (17) --
Extraordinary (loss)gain on debt
redemption(a) (8) 1 (107)
Insurance dividend 6 11 18
Changes in accounting principles(a) (24) -- (13)
Tax effect of pre-tax adjustments 192 (133) 55
----------------------------------------- ------- ------- -------
(a) These amounts are shown after-tax.
19
CONSOLIDATED OPERATIONS - REVENUES
SELECTED REVENUE ITEMS