Occidental Petroleum 2015 Annual Report Download - page 81
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2014 Quarterly Financial Data
Three months ended
March 31
June 30
September 30
December 31
Segment net sales
Oil and gas
$ 3,602 $ 3,703
$ 3,586
$ 2,996
Chemical
1,220 1,242
1,232
1,123
Midstream, marketing and other
340 440
261
332
Eliminations
(194)
(252)
(175)
(144)
Net sales
$ 4,968 $ 5,133
$ 4,904
$ 4,307
Gross profit
$ 2,197 $ 2,274
$ 1,977
$ 1,254
Segment earnings
Oil and gas
$ 1,719 $ 1,767 (a) $ 1,568
$ (4,626) (a)
Chemical
136 133
140
11 (b)
Midstream, marketing and other (c)
162 208
105
2,089 (d)
2,017 2,108
1,813
(2,526)
Unallocated corporate items
Interest expense, net
(20)
(18)
(15)
(18)
Income taxes
(794)
(809)
(699)
617
Other
(68)
(123)
(104)
(1,505) (e)
Income from continuing operations (c)
1,135 1,158
995
(3,432)
Discontinued operations, net
255 273
213
19
Net income
$ 1,390 $ 1,431
$ 1,208
$ (3,413)
Basic earnings per common share
Income (loss) from continuing operations
$ 1.43 $ 1.48
$ 1.28
$ (4.44)
Discontinued operations, net
0.32 0.35
0.27
0.03
Basic earnings per common share
$ 1.75
$ 1.83
$ 1.55
$ (4.41)
Diluted earnings per common share
Income (loss) from continuing operations
$ 1.43 $ 1.47
$ 1.28
$ (4.44)
Discontinued operations, net
0.32 0.35
0.27
0.03
Diluted earnings per common share
$ 1.75 $ 1.82 $ 1.55 $ (4.41)
Dividends per common share
$ 0.72 $ 0.72
$ 0.72
$ 0.72
Market price per common share
High
$ 97.84 $ 105.64
$ 104.48
$ 97.14
Low
$ 85.90 $ 93.27
$ 95.70
$ 72.32
(a) Includes second quarter pre-tax charges of $471 million related to the impairment of domestic non-producing acreage. Includes second quarter pre-tax gain of $531 million from sale of Hugoton Field.
Includes fourth quarter pre-tax charges of $5.4 billion related to the impairment of oil and gas assets.
(b) Includes fourth quarter pre-tax charges of $149 million related to the impairment of chemical assets.
(c) Midstream, marketing and other segment earnings are net of non-controlling interest.
(d) Includes fourth quarter pre-tax gains of $633 million from the sale of BridgeTex Pipeline and $1,351 million for the sale of a portion of an investment in Plains Pipeline.
(e) Includes fourth quarter pre-tax charges of $805 million related to the impairment of Joslyn asset and an other than temporary loss of $553 million for available for sale investment in California
Resources stock.
Supplemental Oil and Gas Information