Occidental Petroleum 2001 Annual Report Download - page 47

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---------- ----------
3,574 3,977
---------- ----------
CONTINGENT LIABILITIES AND COMMITMENTS
MINORITY INTEREST 2,224 2,265
---------- ----------
OCCIDENTAL OBLIGATED MANDATORILY REDEEMABLE
TRUST PREFERRED SECURITIES OF A SUBSIDIARY
TRUST HOLDING SOLELY SUBORDINATED NOTES OF
OCCIDENTAL
463 473
---------- ----------
STOCKHOLDERS' EQUITY
Nonredeemable preferred stock; $1.00 par value, authorized 50 million shares;
outstanding shares: 2001 and 2000 -- none -- --
Common stock, $.20 par value; authorized 500 million shares;
outstanding shares: 2001 -- 374,125,825 and 2000 -- 369,984,447 75 74
Additional paid-in capital 3,857 3,743
Retained earnings 1,788 1,007
Accumulated other comprehensive income (86) (50)
---------- ----------
5,634 4,774
---------- ----------
$ 17,850 $ 19,414
=================================================================================== ========== ==========
The accompanying notes are an integral part of these financial statements.
37
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY Occidental Petroleum Corporation
In millions and Subsidiaries
Non-
Redeemable Additional Retained Accumulated Other
Preferred Common Paid-in Earnings Comprehensive
Stock Stock Capital (Deficit) Income
========================================== ========== ========== ========== ========== =================
BALANCE, DECEMBER 31, 1998 $ 243 $ 69 $ 3,814 $ (734) $ (29)
Net income -- -- -- 448 --
Other comprehensive income, net of tax -- -- -- -- (22)
Dividends on common stock -- -- (358) -- --
Dividends on preferred stock -- -- (7) -- --
Issuance of common stock -- 1 88 -- --
Preferred stock conversions/redemptions (243) 3 240 -- --
Exercises of options and other, net -- -- 10 -- --
------------------------------------------ ---------- ---------- ---------- ---------- -----------------
BALANCE, DECEMBER 31, 1999 $ -- $ 73 $ 3,787 $ (286) $ (51)
Net income -- -- -- 1,570 --
Other comprehensive income, net of tax -- -- -- -- 1
Dividends on common stock -- -- (92) (277) --
Issuance of common stock -- 1 40 -- --
Exercises of options and other, net -- -- 8 -- --
------------------------------------------ ---------- ---------- ---------- ---------- -----------------
BALANCE, DECEMBER 31, 2000 $ -- $ 74 $ 3,743 $ 1,007 $ (50)
Net income -- -- -- 1,154 --
Other comprehensive income, net of tax -- -- -- -- (36)
Dividends on common stock -- -- -- (373) --
Issuance of common stock -- -- 19 -- --
Exercises of options and other, net -- 1 95 -- --
------------------------------------------ ---------- ---------- ---------- ---------- -----------------
BALANCE, DECEMBER 31, 2001 $ -- $ 75 $ 3,857 $ 1,788 $ (86)
========================================== ========== ========== ========== ========== =================
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
In millions
For the years ended December 31, 2001 2000 1999
================================================= ========== ========== ==========
Net income $ 1,154 $ 1,570 $ 448
Other comprehensive income items:
Foreign currency translation adjustments (12) 2 (23)
Derivative mark-to-market adjustments (20) -- --
Minimum pension liability adjustments (6) 2 --
Unrealized gains(losses) on securities 2 (3) 1
---------- ---------- ----------
Other comprehensive income, net of tax (36) 1 (22)
---------- ---------- ----------
Comprehensive income $ 1,118 $ 1,571 $ 426
================================================= ========== ========== ==========
The accompanying notes are an integral part of these financial statements.
38