Occidental Petroleum 2014 Annual Report Download - page 62

Download and view the complete annual report

Please find page 62 of the 2014 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 148

  • 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

      


                    

            
                 
                 
                
                   



                  

NOTE 10 DOMESTIC AND FOREIGN INCOME TAXES

For the years ended December 31, (in millions)
Domestic
Foreign
Total

 
 
 
2013
$ 3,399
$ 4,747
$ 8,146
2012
$ 852
$ 5,636
$ 6,488

For the years ended December 31, (in millions)
United States
Federal
State
and Local
Foreign
Total

Current
 
 
 
 
Deferred




 
 
 
 
2013
Current
$ 113
$ 17
$ 2,170
$ 2,300
Deferred
883
48
(17)
914
$ 996
$ 65
$ 2,153
$ 3,214
2012
Current
$ (308)
$ 4
$ 2,383
$ 2,079
Deferred
519
20
41
580
$ 211
$ 24
$ 2,424
$ 2,659


For the years ended December 31,

2013
2012
United States federal statutory tax rate

35 %
35 %
Other than temporary loss on available for sale investment in California Resources stock

Operations outside the United States

5
6
State income taxes, net of federal benefit
1
1
Other

(1)
(1)
Worldwide effective tax rate

40 %
41 %
60