Occidental Petroleum 2014 Annual Report Download - page 74
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NOTE 15 FAIR VALUE MEASUREMENTS
FAIR VALUES – RECURRING
(in millions)
Commodity derivatives
Available for sale investment
Commodity derivatives
(in millions)
Fair Value Measurements at December 31, 2013 Using
Netting and
Collateral
Total
Fair Value
Description
Level 1
Level 2
Level 3
Commodity derivatives
$ 185
$ 195
$ —
$ (329) $ 51
Commodity derivatives
$ 199
$ 223
$ —
$ (364) $ 58
FAIR VALUES – NONRECURRING
(in millions)
Impaired proved oil and gas
assets - domestic
Impaired proved oil and gas
assets - international
Impaired Chemical property,
plant, and equipment
(a) Amount represents net book value at date of assessment.
FINANCIAL INSTRUMENTS FAIR VALUE
72