Occidental Petroleum 2014 Annual Report Download - page 80
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2013 Quarterly Financial Data
Three months ended
March 31
June 30
September 30
December 31
Segment net sales
Oil and gas
$ 3,431 $ 3,707
$ 3,961
$ 3,909
Chemical
1,175 1,187
1,200
1,111
Midstream, marketing and other
381 196
357
240
Eliminations
(162)
(179)
(176)
(168)
Net sales
$ 4,825 $ 4,911
$ 5,342
$ 5,092
Gross profit
$ 2,099 $ 2,139
$ 2,532
$ 2,142
Segment earnings
Oil and gas
$ 1,542 $ 1,751
$ 1,973
$ 1,145 (a)
Chemical
159 275 (b) 181
128
Midstream, marketing and other
208 35
189
1,091 (c)
1,909 2,061
2,343
2,364
Unallocated corporate items
Interest expense, net
(34)
(33)
(32)
(25)
Income taxes
(708)
(773)
(891)
(842)
Other
(57)
(162)
(99)
(89)
Income from continuing operations
1,110 1,093
1,321
1,408
Discontinued operations, net
245 229
262
235
Net income
$ 1,355 $ 1,322
$ 1,583
$ 1,643
Basic earnings per common share
Income from continuing operations
$ 1.38 $ 1.36
$ 1.64
$ 1.75
Discontinued operations, net
0.30 0.28
0.32
0.29
Basic earnings per common share
$ 1.68 $ 1.64
$ 1.96
$ 2.04
Diluted earnings per common share
Income from continuing operations
$ 1.38 $ 1.36
$ 1.63
$ 1.75
Discontinued operations, net
0.30 0.28
0.33
0.29
Diluted earnings per common share
$ 1.68 $ 1.64 $ 1.96 $ 2.04
Dividends per common share
$ 0.64 $ 0.64
$ 0.64
$ 0.64
Market price per common share
High
$ 88.74 $ 95.57
$ 94.50
$ 99.42
Low
$ 77.21 $ 77.91
$ 84.91
$ 90.13
(a) Includes fourth quarter pre-tax charges of $607 million related to the impairment of domestic non-producing acreage.
(b) Includes second quarter pre-tax gain of $131 million from the sale of the Carbocloro investment.
(c) Includes fourth quarter pre-tax gain of $1,044 million from the sale of a portion of an investment in Plains Pipeline.
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