Occidental Petroleum 2002 Annual Report Download - page 88

Download and view the complete annual report

Please find page 88 of the 2002 Occidental Petroleum annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 149

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149

66
INDUSTRY SEGMENTS
In millions
Oil and Gas Chemical Corporate Total
============================================================= =========== =========== =========== ===========
YEAR ENDED DECEMBER 31, 2002
Net sales $ 4,634 (a) $ 2,704 (b) $ -- $ 7,338
=========== =========== =========== ===========
Pretax operating profit(loss) (c) $ 2,181 $ (128) $ (468)(e) $ 1,585
Income taxes (474) 403 (351)(f) (422)
Discontinued operations, net -- -- (79) (79)
Cumulative effect of changes in accounting principles, net -- -- (95) (95)
----------- ----------- ----------- -----------
Net income(loss) (d) $ 1,707 (g) $ 275 (h) $ (993)(i) $ 989
=========== =========== =========== ===========
Unconsolidated equity investments $ 475 $ (11) $ 592 $ 1,056
=========== =========== =========== ===========
Property, plant and equipment additions, net (k) $ 1,038 $ 109 $ 89 $ 1,236
=========== =========== =========== ===========
Depreciation, depletion and amortization $ 819 $ 183 $ 10 $ 1,012
=========== =========== =========== ===========
Total assets $ 12,483 $ 3,069 $ 996 $ 16,548
============================================================= =========== =========== =========== ===========
YEAR ENDED DECEMBER 31, 2001
Net sales $ 5,134 (a) $ 2,968 (b) $ -- $ 8,102
=========== =========== =========== ===========
Pretax operating profit(loss) (c) $ 3,292 $ (442) $ (1,115)(e) $ 1,735
Income taxes (447) 43 (152)(f) (556)
Discontinued operations, net -- -- (1) (1)
Cumulative effect of changes in accounting principles, net -- -- (24) (24)
----------- ----------- ----------- -----------
Net income(loss) (d) $ 2,845 (g) $ (399)(h) $ (1,292)(i) $ 1,154
=========== =========== =========== ===========
Unconsolidated equity investments $ 75 $ 663 $ 255 $ 993
=========== =========== =========== ===========
Property, plant and equipment additions, net (k) $ 1,138 $ 112 $ 58 $ 1,308
=========== =========== =========== ===========
Depreciation, depletion and amortization $ 750 $ 184 $ 31 $ 965
=========== =========== =========== ===========
Total assets $ 13,316 $ 3,943 $ 591 $ 17,850
============================================================= =========== =========== =========== ===========
YEAR ENDED DECEMBER 31, 2000
Net sales $ 4,875 (a) $ 3,629 (b) $ -- $ 8,504
=========== =========== =========== ===========
Pretax operating profit(loss) (c) $ 3,012 $ 148 $ (169)(e) $ 2,991
Income taxes (595) (7) (832)(f) (1,434)
Discontinued operations, net -- -- 13 13
----------- ----------- ----------- -----------
Net income(loss) (d) $ 2,417 (g) $ 141 (h) $ (988)(i) $ 1,570
=========== =========== =========== ===========
Unconsolidated equity investments $ 67 $ 1,203 $ 57 $ 1,327
=========== =========== =========== ===========
Property, plant and equipment additions, net (k) $ 738 $ 148 $ 6 $ 892
=========== =========== =========== ===========
Depreciation, depletion and amortization $ 670 $ 183 $ 41 $ 894
=========== =========== =========== ===========
Total assets $ 13,384 $ 4,701 $ 1,329 (j) $ 19,414
============================================================= =========== =========== =========== ===========
Footnotes:
----------
(a) Oil sales represented approximately 77 percent, 60 percent and 75 percent
of net sales for the periods ended December 31, 2002, 2001 and 2000,
respectively.
(b) Total product sales for the chemical segment were as follows:
Basic Chemicals Commodity Vinyl Resins Performance Chemicals
====================== ====================== ======================
YEAR ENDED DECEMBER 31, 2002 32% 50% 18%
Year ended December 31, 2001 38% 48% 14%
Year ended December 31, 2000 33% 49% 18%