Occidental Petroleum 2002 Annual Report Download - page 2

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Portions of the registrant's definitive Proxy Statement, filed in connection
with its April 25, 2003, Annual Meeting of Stockholders, are incorporated by
reference into Part III.
TABLE OF CONTENTS
PAGE
PART I
ITEMS 1 AND 2 Business and Properties...................................................................... 3
General...................................................................................... 3
Developments................................................................................. 3
Oil and Gas Operations....................................................................... 3
Chemical Operations.......................................................................... 4
Capital Expenditures......................................................................... 5
Employees.................................................................................... 5
Environmental Regulation..................................................................... 5
Available Information........................................................................ 5
ITEM 3 Legal Proceedings............................................................................ 5
ITEM 4 Submission of Matters to a Vote of Security Holders.......................................... 6
Executive Officers of the Registrant......................................................... 6
PART II
ITEM 5 Market for Registrant's Common Equity and Related Stockholder Matters........................ 7
ITEM 6 Selected Financial Data...................................................................... 8
ITEM 7 Management's Discussion and Analysis of Financial Condition and Results of
Operations (MD&A) (Incorporating Item 7A).................................................... 8
2002 Business Environment............................................................... 8
Strategic Overview and Review of Business Results - 2000 - 2002......................... 9
2003 Outlook............................................................................ 13
Income Summary.......................................................................... 14
Segment Operations...................................................................... 14
Significant Items Affecting Earnings.................................................... 15
Consolidated Operations................................................................. 16
Liquidity and Capital Resources......................................................... 17
Analysis of Financial Position.......................................................... 20
Acquisitions, Dispositions and Commitments.............................................. 21
Derivative Activities and Market Risk................................................... 22
Taxes................................................................................... 25
Lawsuits, Claims, Commitments, Contingencies and Related Matters........................ 26
Environmental Expenditures.............................................................. 26
Foreign Investments..................................................................... 28
Critical Accounting Policies............................................................ 28
Additional Accounting Changes........................................................... 31
Safe Harbor Statement Regarding Outlook and Other Forward-Looking Data.................. 33
Report of Management.................................................................... 33
ITEM 8 Financial Statements and Supplementary Data.................................................. 34
Report of Independent Auditors.......................................................... 34
Consolidated Statements of Operations................................................... 35
Consolidated Balance Sheets............................................................. 36
Consolidated Statements of Stockholders' Equity......................................... 38
Consolidated Statements of Comprehensive Income......................................... 38
Consolidated Statements of Cash Flows................................................... 39
Notes to Consolidated Financial Statements.............................................. 40
Quarterly Financial Data (Unaudited).................................................... 73
Supplemental Oil and Gas Information (Unaudited)........................................ 75
Financial Statement Schedule:
Schedule II - Valuation and Qualifying Accounts......................................... 82
ITEM 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure......... 83
PART III
ITEM 10 Directors and Executive Officers of the Registrant........................................... 83
ITEM 11 Executive Compensation....................................................................... 83