Occidental Petroleum 2001 Annual Report Download - page 60

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455 539
LIFO reserve (11) (54)
-------- --------
TOTAL $ 444 $ 485
================================================================================ ======== ========
NOTE 6 LONG-TERM DEBT AND NON-RECOURSE DEBT
--------------------------------------------------------------------------------
Long-term debt consisted of the following (in millions):
Balance at December 31, 2001 2000
================================================================================ ======== ========
OCCIDENTAL PETROLEUM CORPORATION
6.75% senior notes due 2012 $ 500 $ --
7.65% senior notes due 2006 (a) 457 450
6.4% senior notes due 2013, subject to remarketing April 1, 2003 450 450
7.375% senior notes due 2008 (a) 394 395
8.45% senior notes due 2029 350 350
9.25% senior debentures due 2019, putable August 1, 2004 at par 300 300
5.875% senior notes due 2007 (a) 297 --
10.125% senior debentures due 2009 276 276
7.2% senior debentures due 2028 200 200
6.75% senior notes due 2002 163 163
6.5% senior notes due 2005 (a) 155 157
Medium-term notes due 2002 through 2008 (7.18% to 8.34% at December 31, 2001) 120 150
8.5% senior notes due 2001 -- 132
8.75% medium-term notes due 2023 100 100
10.125% senior notes due 2001 -- 89
11.125% senior notes due 2010 12 12
-------- --------
3,774 3,224
-------- --------
OXY USA INC.
4.8% unsecured notes due 2006 20 --
7.2% unsecured notes due 2020 7 7
5.7% to 7.8% unsecured notes due 2001 through 2007 -- 34
-------- --------
27 41
-------- --------
OTHER SUBSIDIARY DEBT
1.45% to 7.67% unsecured notes due 2003 through 2030 273 276
6% secured notes due 2001 through 2007 -- 17
-------- --------
273 293
-------- --------
4,074 3,558
Less:
Unamortized discount, net (9) (16)
Current maturities -- (257)
-------- --------
TOTAL LONG-TERM DEBT 4,065 3,285
-------- --------
Occidental Permian Ltd. non-recourse term loan due 2005 -- 1,900
-------- --------
TOTAL LONG-TERM DEBT AND NON-RECOURSE DEBT $ 4,065 $ 5,185
================================================================================ ======== ========
(a) 2001 amount includes a mark-to-market adjustment due to a fair-value hedge.
49
At December 31, 2001, $199 million of notes due in 2002 were classified as
non-current since it is management's intention to refinance this amount on a
long-term basis by issuing long-term debt. In addition, at December 31, 2001,
Occidental had available lines of committed bank credit of approximately $2.1
billion. Bank fees on these committed lines of credit ranged from 0.125 percent
to 0.175 percent.
At December 31, 2001, minimum principal payments on long-term debt
subsequent to December 31, 2002 aggregated $4,073 billion, of which $507 million
is due in 2003, $324 million in 2004, $158 million in 2005, $696 million in
2006, $302 million in 2007 and $2,086 billion thereafter. These amounts do not
include the mark-to-market adjustments, which netted to $1 million, related to