Occidental Petroleum 2002 Annual Report Download - page 52

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OTHER ASSETS 308 324
---------- ----------
$ 16,548 $ 17,850
================================================================================ ========== ==========
The accompanying notes are an integral part of these financial statements.
36
CONSOLIDATED BALANCE SHEETS Occidental Petroleum Corporation
In millions, except share amounts and Subsidiaries
Liabilities and Equity at December 31, 2002 2001
================================================================================ ========== ==========
CURRENT LIABILITIES
Current maturities of long-term debt and capital lease liabilities $ 206 $ --
Notes payable -- 54
Accounts payable 785 715
Accrued liabilities 914 849
Dividends payable 193 94
Obligation under natural gas delivery commitment -- 137
Liabilities held for sale -- 18
Domestic and foreign income taxes 137 27
---------- ----------
TOTAL CURRENT LIABILITIES 2,235 1,894
---------- ----------
LONG-TERM DEBT, NET OF CURRENT MATURITIES AND UNAMORTIZED DISCOUNT 3,997 4,065
---------- ----------
DEFERRED CREDITS AND OTHER LIABILITIES
Deferred and other domestic and foreign income taxes 982 1,103
Obligation under natural gas delivery commitment -- 145
Other 2,228 2,322
---------- ----------
3,210 3,570
---------- ----------
CONTINGENT LIABILITIES AND COMMITMENTS
MINORITY INTEREST 333 2,224
---------- ----------
OCCIDENTAL OBLIGATED MANDATORILY REDEEMABLE
TRUST PREFERRED SECURITIES OF A SUBSIDIARY
TRUST HOLDING SOLELY SUBORDINATED NOTES OF
OCCIDENTAL 455 463
---------- ----------
STOCKHOLDERS' EQUITY
Nonredeemable preferred stock; $1.00 par value, authorized 50 million shares;
outstanding shares: 2002 and 2001--none -- --
Common stock, $.20 par value; authorized 500 million shares;
outstanding shares: 2002--377,860,191 and 2001--374,125,825 75 75
Additional paid-in capital 3,967 3,857
Retained earnings 2,303 1,788
Accumulated other comprehensive income (27) (86)
---------- ----------
6,318 5,634
---------- ----------
$ 16,548 $ 17,850
================================================================================ ========== ==========
The accompanying notes are an integral part of these financial statements.
37
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY Occidental Petroleum Corporation
In millions and Subsidiaries
Accumulated
Additional Retained Other
Common Paid-in Earnings Comprehensive
Stock Capital (Deficit) Income
===================================================== ============= ============= ============= =============
BALANCE, DECEMBER 31, 1999 $ 73 $ 3,787 $ (286) $ (51)
Net income -- -- 1,570 --
Other comprehensive income, net of tax -- -- -- 1