Occidental Petroleum 2014 Annual Report Download - page 73
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For the years ended December 31, (in millions)
2013
2012
Revenues
$ 3,373
$ 2,667
Costs and expenses
2,987
2,310
Net income
$ 386
$ 357
As of December 31, (in millions)
2013
Current assets
$ 1,813
Non-current assets
$ 4,412
Current liabilities
$ 1,308
Long-term debt
$ 2,506
Other non-current liabilities
$ 163
Stockholders’ equity
$ 2,248
AVAILABLE FOR SALE INVESTMENT IN CALIFORNIA RESOURCES STOCK
RELATED-PARTY TRANSACTIONS
For the years ended December 31, (in millions)
2013
2012
Sales (a)
$ 663
$ 419
Purchases
$ —
$ 8
Services
$ 30
$ 17
Advances and amounts due from
$ 67
$ 25
Amounts due to
$ 3
$ 129
(a) In 2014, 2013 and 2012, sales of Occidental-produced oil and NGLs to Plains Pipeline accounted for 46 percent, 72 percent and 80 percent of these totals, respectively. Additionally, Occidental
conducts marketing and trading activities with Plains Pipeline for oil and NGLs. These transactions are reported in Occidental's income statement on a net margin basis. The sales amounts above
include the net margins on such transactions, which were negligible.
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