Occidental Petroleum 2002 Annual Report Download - page 28

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* CONTRACTUAL OBLIGATIONS
The table below summarizes and cross-references certain contractual
obligations that are reflected in the Consolidated Balance Sheets and/or
disclosed in the accompanying Notes.
In millions Payments Due by Year
------------------------------------------------------------------
2004 2006 2008
Contractual to to and
Obligations Total 2003 2005 2007 thereafter
======================== ========== ========== ========== ========== ==========
CONSOLIDATED
BALANCE SHEETS
Long-Term Debt
(Note 6) (a) $ 4,105 $ 206 $ 480 $ 1,346 $ 2,073
Capital Leases
(Note 7) 26 1 1 1 23
Trust Preferred
Securities
(Note 12) 455 -- -- -- 455
FOOTNOTE DISCLOSURES
Operating Leases
(Note 7) (b) 1,347 88 167 134 958
Fixed and
Determinable
Purchase Obligations
(Note 9) (c) 94 21 35 25 13
Receivable Sale
Program (Note 1) (d) 360 -- -- 360 --
---------- ---------- ---------- ---------- ----------
TOTAL $ 6,387 $ 316 $ 683 $ 1,866 $ 3,522
======================== ========== ========== ========== ========== ==========
(a) Includes principal payments only. Excludes unamortized discounts and
mark-to-market adjustments related to fair-value hedges.
(b) Offset by sublease rental income.
(c) Excludes capital commitments.
(d) The $360 million receivable sale amount is reflected in the 2006-2007 year
column since Occidental could finance the amount with its committed credit
line, which becomes due in 2006, if the program is terminated.
COMMITMENTS
At December 31, 2002, commitments for major capital expenditures during
2003 and thereafter were approximately $158 million.
19
ANALYSIS OF FINANCIAL POSITION
The changes in the following components of Occidental's balance sheet are
discussed below:
SELECTED BALANCE SHEET COMPONENTS
In millions 2002 2001
================================================ ======== ========
Trade receivables, net $ 608 $ 360
Receivables from joint ventures, partnerships
and other $ 321 $ 266
Inventories $ 491 $ 414
Income tax receivable $ 150 $ 35
Long-term receivables, net $ 275 $ 2,185