Occidental Petroleum 2008 Annual Report Download - page 2

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TABLE OF CONTENTS
Page
Part I
Items 1 and 2Business and Properties 3
General 3
Oil and Gas Operations 3
Chemical Operations 4
Midstream, Marketing and Other Operations 5
Capital Expenditures 5
Employees 5
Environmental Regulation 5
Available Information 5
Item 1A Risk Factors 6
Item 1B Unresolved Staff Comments 7
Item 3 Legal Proceedings 7
Item 4 Submission of Matters to a Vote of Security Holders 7
Executive Officers 7
Part II
Item 5 Market for Registrant’s Common Equity, Related Stockholder Matters and Purchases of Equity Securities 8
Item 6 Selected Financial Data 10
Item 7 and 7A Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) 10
Strategy 10
Oil and Gas Segment 12
Chemical Segment 17
Midstream, Marketing and Other Segment 18
Corporate 19
Segment Results of Operations 19
Significant Items Affecting Earnings 21
Taxes 21
Consolidated Results of Operations 22
Consolidated Analysis of Financial Position 23
Liquidity and Capital Resources 24
Off-Balance-Sheet Arrangements 25
Lawsuits, Claims, Commitments, Contingencies and Related Matters 26
Environmental Liabilities and Expenditures 27
Foreign Investments 28
Critical Accounting Policies and Estimates 28
Significant Accounting Changes 31
Derivative Activities and Market Risk 32
Safe Harbor Discussion Regarding Outlook and Other Forward-Looking Data 33
Item 8 Financial Statements and Supplementary Data 34
Management's Annual Assessment of and Report on Internal Control Over Financial Reporting 34
Report of Independent Registered Public Accounting Firm on Consolidated Financial Statements 35
Report of Independent Registered Public Accounting Firm on Internal Control Over Financial Reporting 36
Consolidated Statements of Income 37
Consolidated Balance Sheets 38
Consolidated Statements of Stockholders’ Equity 40
Consolidated Statements of Comprehensive Income 40
Consolidated Statements of Cash Flows 41
Notes to Consolidated Financial Statements 42
Quarterly Financial Data (Unaudited) 73
Supplemental Oil and Gas Information (Unaudited) 75
Financial Statement Schedule:
Schedule II – Valuation and Qualifying Accounts 84
Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 85
Item 9A Controls and Procedures 85
Disclosure Controls and Procedures 85
Part III
Item 10 Directors, Executive Officers and Corporate Governance 85
Item 11 Executive Compensation 85
Item 12 Security Ownership of Certain Beneficial Owners and Management 85
Item 13 Certain Relationships and Related Transactions and Director Independence 85
Item 14 Principal Accountant Fees and Services 85
Part IV
Item 15 Exhibits and Financial Statement Schedules 86
Part I