Occidental Petroleum 2008 Annual Report Download - page 52

Download and view the complete annual report

Please find page 52 of the 2008 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 116

  • 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

Consolidated Balance Sheets
In millions
Occidental Petroleum Corporation
and Subsidiaries
Assets at December 31, 2008 2007
CURRENT ASSETS
Cash and cash equivalents $1,777 $1,964
Trade receivables, net of reserves of $45 in 2008 and $35 in 2007 3,117 4,973
Marketing and trading assets and other 1,012 416
Inventories 958 910
Prepaid expenses and other 308 332
Total current assets 7,172 8,595
INVESTMENTS IN UNCONSOLIDATED ENTITIES 1,263 783
PROPERTY, PLANT AND EQUIPMENT
Oil and gas segment 40,091 32,624
Chemical segment 5,090 5,049
Midstream, marketing and other segment 2,445 1,898
Corporate 1,102 345
48,728 39,916
Accumulated depreciation, depletion and amortization (16,462) (13,638)
32,266 26,278
LONG-TERM RECEIVABLES AND OTHER ASSETS, NET 836 863
TOTAL ASSETS $41,537 $36,519
The accompanying notes are an integral part of these consolidated financial statements.
38
Consolidated Balance Sheets Occidental Petroleum Corporation