Occidental Petroleum 2014 Annual Report Download - page 87
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RESULTS OF OPERATIONS
United
Latin
Middle East/
in millions
States
America
North Africa
Total
Revenues (a)
Production costs (b)
Other operating expenses
Depreciation, depletion and amortization
Taxes other than on income
Exploration expenses
Asset impairments and related items
Income tax expense (c)
Revenues (a)
$ 7,028
$ 1,075 $ 6,949
$ 15,052
Production costs (b)
1,457
158 1,172
2,787
Other operating expenses
582
21 278
881
Depreciation, depletion and amortization
1,890
107 1,679
3,676
Taxes other than on income
529
21 —
550
Exploration expenses
68
6
66
140
2,502 762 3,754 7,018
Asset impairments and related items
607
—
—
607
1,895 762 3,754 6,411
Income tax expense (c)
591
256 1,805
2,652
$ 1,304 $ 506 $ 1,949 $ 3,759
Revenues (a)
$ 6,426
$ 1,085 $ 7,486
$ 14,997
Production costs (b)
1,710
165 1,061
2,936
Other operating expenses
498
43 224
765
Depreciation, depletion and amortization
1,544
117 1,404
3,065
Taxes other than on income
481
23 —
504
Exploration expenses
82
3
112
197
2,111 734 4,685 7,530
Asset impairments and related items
1,690
—
—
1,690
421 734 4,685 5,840
Income tax expense (c)
70
252 2,159
2,481
$ 351
$ 482
$ 2,526
$ 3,359
(a) Revenues are net of royalty payments.
(b) Production costs are the costs incurred in lifting the oil and gas to the surface and include gathering, primary processing, field storage and insurance on proved properties, but do not include DD&A,
royalties, income taxes, interest, general and administrative and other expenses.
(c) United States federal income taxes reflect certain expenses related to oil and gas activities allocated for United States income tax purposes only, including allocated interest and corporate overhead.
85