Occidental Petroleum (OXY) 10-K24 Feb 222021 FY Annual reportFinancial data

Company Profile

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2021	Jan. 31, 2022	Jun. 30, 2021
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Entity File Number	1-9210
Entity Registrant Name	Occidental Petroleum Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-4035997
Entity Address, Address Line One	5 Greenway Plaza, Suite 110
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77046
City Area Code	(713)
Local Phone Number	215-7000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 29.2
Entity Common Stock, Shares Outstanding		934,063,989
Documents Incorporated by Reference	Portions of the registrant’s definitive Proxy Statement, relating to its 2022 Annual Meeting of Stockholders, are incorporated by reference into Part III of this Form 10-K.
Entity Central Index Key	0000797468
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock, $0.20 par value
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.20 par value
Trading Symbol	OXY
Security Exchange Name	NYSE
Warrants to Purchase Common Stock, $0.20 par value
Entity Information [Line Items]
Title of 12(b) Security	Warrants to Purchase Common Stock, $0.20 par value
Trading Symbol	OXY WS
Security Exchange Name	NYSE

Audit Information

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Houston, TX
Auditor Firm ID	185

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents		$ 2,764	$ 2,008
Restricted cash and restricted cash equivalents		24	170
Trade receivables, net of reserves of $35 in 2021 and $24 in 2020		4,208	2,115
Inventories		1,846	1,898
Assets held for sale		72	1,433
Other current assets		1,297	1,195
Total current assets		10,211	8,819
INVESTMENTS IN UNCONSOLIDATED ENTITIES		2,938	3,250
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT		118,157	118,964
Accumulated depreciation, depletion and amortization		(58,227)	(53,075)
Total property, plant and equipment, net		59,930	65,889
OPERATING LEASE ASSETS		726	1,062
LONG-TERM RECEIVABLES AND OTHER ASSETS, NET		1,231	1,044
TOTAL ASSETS		75,036	80,064
CURRENT LIABILITIES
Current maturities of long-term debt	[1]	186	440
Current operating lease liabilities		186	473
Accounts payable		3,899	2,987
Accrued liabilities		4,046	3,570
Liabilities of assets held for sale		7	753
Total current liabilities		8,324	8,223
Long-term debt, net	[2]	29,431	35,745
DEFERRED CREDITS AND OTHER LIABILITIES
Deferred income taxes, net		7,039	7,113
Asset retirement obligations		3,687	3,977
Pension and postretirement obligations		1,540	1,763
Environmental remediation liabilities		944	1,028
Operating lease liabilities		585	641
Other		3,159	3,001
Total deferred credits and other liabilities		16,954	17,523
EQUITY
Preferred stock, at $1.00 per share par value (100,000 shares as of December 31, 2021 and 2020)		9,762	9,762
Common stock, $0.20 per share par value, authorized shares: 1.5 billion, issued shares: 2021 — 1,083,423,094 and 2020 — 1,080,564,947		217	216
Treasury stock: 2021 — 149,348,394 shares and 2020 — 149,051,634 shares		(10,673)	(10,665)
Additional paid-in capital		16,749	16,552
Retained earnings		4,480	2,996
Accumulated other comprehensive loss		(208)	(288)
Total stockholders’ equity		20,327	18,573
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		75,036	80,064
Operating segments \| Oil and gas
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT		101,251	102,454
TOTAL ASSETS		56,132	62,931
Operating segments \| Chemical
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT		7,571	7,356
Operating segments \| Midstream and marketing
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT		8,371	8,232
Corporate
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT		$ 964	$ 922

[1]	Included $85 million and $42 million of current finance lease liabilities as of December 31, 2021, and 2020, respectively.
[2]	Included $504 million and $316 million of finance lease liabilities as of December 31, 2021, and 2020, respectively.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Trade receivables, reserves	$ 35	$ 24
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares outstanding (in shares)	100,000	100,000
Common stock, per share par value (in dollars per share)	$ 0.20	$ 0.20
Common stock, authorized shares (in shares)	1,500,000,000	1,500,000,000
Common stock, issued shares (in shares)	1,083,423,094	1,080,564,947
Treasury stock, shares (in shares)	149,348,394	149,051,634
Current finance lease liabilities	$ 85	$ 42
Non-current finance lease liabilities	$ 504	$ 316

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
REVENUES AND OTHER INCOME
Net sales	$ 25,956	$ 17,809	$ 20,911
Interest, dividends and other income	166	118	217
Gains (losses) on sale of assets, net	192	(1,666)	622
Total	26,314	16,261	21,750
COSTS AND OTHER DEDUCTIONS
Oil and gas operating expense	3,160	3,065	3,282
Transportation and gathering expense	1,419	1,600	635
Chemical and midstream cost of sales	2,772	2,408	2,791
Purchased commodities	2,308	1,395	1,679
Selling, general and administrative	863	864	893
Other operating and non-operating expense	1,065	884	1,421
Depreciation, depletion and amortization	8,447	8,097	6,140
Asset impairments and other charges	304	11,083	1,361
Taxes other than on income	1,005	622	840
Anadarko Acquisition-related costs	153	339	1,647
Exploration expense	252	132	247
Interest and debt expense, net	1,614	1,424	1,066
Total	23,362	31,913	22,002
Income (loss) before income taxes and other items	2,952	(15,652)	(252)
OTHER ITEMS
Gains (losses) on interest rate swaps and warrants, net	122	(423)	233
Income from equity investments	631	370	373
Total	753	(53)	606
Income (loss) from continuing operations before income taxes	3,705	(15,705)	354
Income tax benefit (expense)	(915)	2,172	(861)
Income (loss) from continuing operations	2,790	(13,533)	(507)
Loss from discontinued operations, net of tax	(468)	(1,298)	(15)
NET INCOME (LOSS)	2,322	(14,831)	(522)
Less: Net income attributable to noncontrolling interest	0	0	(145)
Less: Preferred stock dividends	(800)	(844)	(318)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 1,522	$ (15,675)	$ (985)
PER COMMON SHARE, BASIC
Income (loss) from continuing operations—basic (in dollars per share)	$ 2.12	$ (15.65)	$ (1.20)
Loss from discontinued operations—basic (in dollars per share)	(0.50)	(1.41)	(0.02)
Net income (loss) attributable to common stockholders—basic (in dollars per share)	1.62	(17.06)	(1.22)
PER COMMON SHARE, DILUTED
Income (loss) from continuing operations—diluted (in dollars per share)	2.06	(15.65)	(1.20)
Loss from discontinued operations—diluted (in dollars per share)	(0.48)	(1.41)	(0.02)
Net income (loss) attributable to common stockholders—diluted (in dollars per share)	$ 1.58	$ (17.06)	$ (1.22)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 2,322	$ (14,831)	$ (522)
Other comprehensive income (loss) items:
Gains (losses) on derivatives	[1]	14	4	(127)
Pension and postretirement gains (losses)	[2]	67	(71)	78
Other		(1)	0	0
Other comprehensive income (loss), net of tax		80	(67)	(49)
Comprehensive income (loss)		2,402	(14,898)	(571)
Less: Comprehensive income attributable to noncontrolling interests		0	0	(145)
Comprehensive income (loss) attributable to preferred and common stockholders		$ 2,402	$ (14,898)	$ (716)

[1]	Net of tax benefit (expense) of $(4), $(1) and $36 in 2021, 2020 and 2019, respectively.
[2]	Net of tax benefit (expense) of $(18), $24 and $(25) in 2021, 2020 and 2019, respectively. See Note 11 - Retirement and Postretirement Benefit Plans in the Notes to Consolidated Financial Statements in Part II Item 8 of this Form 10-K for additional information.

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Unrealized losses on derivatives, tax benefit (expense)	$ (4)	$ (1)	$ 36
Pension and postretirement gains (losses), tax benefit (expense)	$ (18)	$ 24	$ (25)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-controlling Interests
Beginning balance at Dec. 31, 2018	$ 21,330	$ 0	$ 179	$ (10,473)	$ 8,046	$ 23,750	$ (172)	$ 0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(522)					(667)		145
Other comprehensive income (loss), net of tax	(49)						(49)
Dividends on common stock	(2,585)					(2,585)
Dividends on preferred stock	(318)					(318)
Issuance of common stock and other, net	6,939		30		6,909
Issuance of preferred stock	9,762	9,762
Purchases of treasury stock	(180)			(180)
Fair value of noncontrolling interest acquired	4,895							4,895
Noncontrolling interest distributions, net	(131)							(131)
Change in control WES	(4,909)							(4,909)
Ending balance at Dec. 31, 2019	34,232	9,762	209	(10,653)	14,955	20,180	(221)	0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(14,831)					(14,831)
Other comprehensive income (loss), net of tax	(67)						(67)
Dividends on common stock	(746)					(746)
Dividends on preferred stock	(400)		6		438	(844)
Issuance of common stock and other, net	290		1		289
Shareholder warrants exercised	4				767	(763)
Berkshire Warrants	103				103
Purchases of treasury stock	(12)			(12)
Ending balance at Dec. 31, 2020	18,573	9,762	216	(10,665)	16,552	2,996	(288)	0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	2,322					2,322
Other comprehensive income (loss), net of tax	80						80
Dividends on common stock	(38)					(38)
Dividends on preferred stock	(800)					(800)
Issuance of common stock and other, net	191		1		190
Shareholder warrants exercised	7				7
Purchases of treasury stock	(8)			(8)
Ending balance at Dec. 31, 2021	$ 20,327	$ 9,762	$ 217	$ (10,673)	$ 16,749	$ 4,480	$ (208)	$ 0

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Dividends on common stock (in dollars per share)	$ 0.04	$ 0.82	$ 3.14
Dividends on preferred stock (in dollars per share)	$ 8,000	$ 8,444	$ 3,489

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CASH FLOW FROM OPERATING ACTIVITIES
Net income (loss)	$ 2,322	$ (14,831)	$ (522)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Discontinued operations, net	468	1,298	15
Depreciation, depletion and amortization of assets	8,447	8,097	6,140
Deferred income tax provision (benefit)	46	(2,517)	(1,027)
Other noncash charges to income	229	419	958
Asset impairments and other charges	304	11,002	1,328
(Gain) loss on sales of equity investments and other assets, net	(192)	1,666	(622)
Undistributed earnings from affiliates	(70)	(61)	(50)
Dry hole expense	125	47	89
Changes in operating assets and liabilities:
(Increase) decrease in receivables	(2,086)	2,062	401
(Increase) decrease in inventories	(86)	(484)	78
(Increase) decrease in other current assets	(119)	350	170
Increase (decrease) in accounts payable and accrued liabilities	865	(3,228)	358
Increase in current domestic and foreign income taxes	0	22	20
Operating cash flow from continuing operations	10,253	3,842	7,336
Operating cash flow from discontinued operations, net of taxes	181	113	39
Net cash provided by operating activities	10,434	3,955	7,375
CASH FLOW FROM INVESTING ACTIVITIES
Capital expenditures	(2,870)	(2,535)	(6,367)
Change in capital accrual	97	(519)	(249)
Purchase of businesses and assets, net	(431)	(114)	(28,088)
Proceeds from sale of assets and equity investments, net	1,624	2,281	6,143
Equity investments and other, net	406	109	(291)
Investing cash flow from continuing operations	(1,174)	(778)	(28,852)
Investing cash flow from discontinued operations	(79)	(41)	(175)
Net cash used by investing activities	(1,253)	(819)	(29,027)
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from issuance of common and preferred stock	31	134	10,028
Purchases of treasury stock	(8)	(12)	(237)
Cash dividends paid on common and preferred stock	(839)	(1,845)	(2,624)
Distributions to noncontrolling interest	0	0	(257)
Payment of liabilities associated with the sale of future royalties	0	(386)	(28)
Financing portion of net cash received (paid) for derivative instruments	(834)	(362)	120
Other financing, net	(80)	(57)	137
Financing cash flow from continuing operations	(8,564)	(4,508)	22,196
Financing cash flow from discontinued operations	(8)	(8)	(3)
Net cash provided (used) by financing activities	(8,572)	(4,516)	22,193
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents	609	(1,380)	541
Cash, cash equivalents, restricted cash and restricted cash equivalents — beginning of year	2,194	3,574	3,033
Cash, cash equivalents, restricted cash and restricted cash equivalents — end of year	2,803	2,194	3,574
Occidental
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from long-term debt, net	0	6,936	21,557
Payments of long-term debt, net - Occidental	(6,834)	(8,916)	(6,959)
WES
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from long-term debt, net	$ 0	$ 0	$ 459

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NATURE OF OPERATIONS Occidental conducts its operations through various subsidiaries and affiliates. Occidental’s principal businesses consist of three reporting segments: oil and gas, chemical and midstream and marketing. The oil and gas segment explores for, develops and produces oil (which includes condensate), NGL and natural gas. OxyChem primarily manufactures and markets basic chemicals and vinyls. The midstream and marketing segment purchases, markets, gathers, processes, transports and stores oil (which includes condensate), NGL, natural gas, CO 2 and power. It also optimizes its transportation and storage capacity, and invests in entities that conduct similar activities, such as WES. The midstream and marketing segment also includes OLCV. OLCV seeks to leverage Occidental’s legacy of carbon management expertise to develop CCUS projects, including the commercialization of DAC technology, and invests in other low-carbon technologies intended to reduce GHG emissions from our operations and strategically partner with other industries to help reduce their emissions. PRINCIPLES OF CONSOLIDATION The consolidated financial statements have been prepared in conformity with GAAP and include the accounts of Occidental, its subsidiaries, its undivided interests in oil and gas exploration and production ventures and, previously, variable interest entities, for which Occidental was the primary beneficiary. Occidental accounts for its share of oil and gas exploration and production ventures, in which it has a direct working interest, by reporting its proportionate share of assets, liabilities, revenues, costs and cash flows within the relevant lines on the balance sheets, statements of operations and statements of cash flows. Certain prior period amounts have been reclassified to conform to the current presentation. WES INVESTMENT WES is a publicly traded limited partnership with its common units traded on the NYSE under the ticker symbol “WES.” WES owns the entire non-economic general partner interest and a 98% limited partner interest in WES Operating. As a result of certain partnership agreement amendments and other related agreements executed in 2019, Occidental does not consolidate WES under the voting interest model since Occidental does not control the power to appoint or remove a successor general partner. As of December 31, 2021, Occidental’s equity method investment in WES was approximately $2.0 billion, which exceeds Occidental’s pro-rata interest in the net assets of WES by $362 million. This basis difference is primarily associated with WES' PP&E and equity investments and is subject to amortization over their estimated average lives. As of December 31, 2021, Occidental owned all of a 2.2% non-voting general partner interest and 49.7% of the limited partner units in WES. On a combined basis, with its 2% non-voting limited partner interest in WES Operating, Occidental's total effective economic interest in WES and its subsidiaries was 51.8%. See Note 4 - Investment and Related-Party Transactions . INVESTMENTS IN UNCONSOLIDATED ENTITIES Occidental’s percentage interest in the underlying net assets of affiliates for which it exercises significant influence without having a controlling interest (excluding oil and gas ventures in which Occidental holds an undivided interest) are accounted for under the equity method. Occidental reviews equity-method investments for impairment whenever events or changes in circumstances indicate that an other-than-temporary decline in value may have occurred. The amount of impairment, if any, is based on quoted market prices, when available, or other valuation techniques, including discounted cash flows. Occidental evaluates the facts and circumstances of any distributions in excess of its carrying amount in the investment to determine the appropriate accounting, including the source of the proceeds and any implicit or explicit commitments to fund the affiliate. If there is no implicit or explicit commitment the distribution is treated as a gain. If an implicit or explicit commitment exists to possibly fund the affiliate at a future date the distribution is recorded against the equity-method investment. See Note 4 - Investments and Related-Party Transactions for further discussion regarding investments in unconsolidated entities. DISCONTINUED OPERATIONS In connection with the Acquisition, Occidental entered into a purchase and sale agreement with Total to sell all of the assets, liabilities, businesses and operations of Anadarko's operations in Algeria, Ghana, Mozambique and South Africa. Total and Occidental completed the sale of the Mozambique assets in September 2019 for approximately $4.2 billion and the South Africa assets in January 2020 for approximately $100 million. In April 2020, subsequent to communications with Algerian government officials, Occidental determined that the sale of the Algeria operations to Total would not be consummated and the decision was made to continue to operate within Algeria. As a result, as of the second quarter of 2020, Occidental no longer classified the Algeria operations as a held for sale asset in discontinued operations and reclassified prior periods to reflect the Algeria operations as continuing operations. In May 2020, Occidental and Total mutually agreed to execute a waiver of the obligation to purchase and sell the Ghana assets, and in October 2021, Occidental closed on the sale of the Ghana assets with a third party for a purchase price of $750 million. Unless otherwise indicated, information presented in the Notes to Consolidated Financial Statements relates only to Occidental's continuing operations. Information related to discontinued operations is included in Note 5 - Acquisitions, Divestitures and Other Transactions and in some instances, where appropriate, is included as a separate disclosure within the individual Notes to Consolidated Financial Statements. RISKS AND UNCERTAINTIES The process of preparing consolidated financial statements in conformity with GAAP requires Occidental’s management to make informed estimates and judgments regarding certain types of financial statement balances and disclosures. Such estimates primarily relate to unsettled transactions and events as of the date of the consolidated financial statements and judgments on expected outcomes as well as the materiality of transactions and balances. Changes in facts and circumstances or discovery of new information relating to such transactions and events may result in revised estimates and judgments and actual results may differ from estimates upon settlement. Management believes that these estimates and judgments provide a reasonable basis for the fair presentation of Occidental’s financial statements. Occidental establishes a valuation allowance against net operating losses and other deferred tax assets to the extent it believes the future benefit from these assets will not be realized in the statutory carryforward periods. Realization of deferred tax assets is dependent upon Occidental generating sufficient future taxable income and reversal of temporary differences in jurisdictions where such assets originate. The accompanying consolidated financial statements include assets of approximately $7.7 billion as of December 31, 2021 and net sales of approximately $4.2 billion for the year ended December 31, 2021, relating to Occidental’s operations in countries outside North America. Occidental operates some of its oil and gas business in countries that have experienced situations including such things as political instability, nationalizations, corruption, armed conflict, terrorism, insurgency, civil unrest, security problems, labor unrest, OPEC production restrictions, equipment import restrictions and sanctions, all of which increase Occidental’s risk of loss, delayed or restricted production or may result in other adverse consequences. Occidental attempts to conduct its affairs so as to mitigate its exposure to such risks and would seek compensation in the event of nationalization. Because Occidental’s major products are commodities, significant changes in the prices of oil, NGL, natural gas and chemical products may have a significant impact on Occidental’s results of operations. Also, see Property, Plant and Equipment section below. RECEIVABLES AND OTHER CURRENT ASSETS Trade receivables, net, of $4.2 billion and $2.1 billion as of December 31, 2021, and 2020, respectively, represent rights to payment for which Occidental has satisfied its obligations under a contract with a customer and its right to payment is conditioned only on the passage of time. Other current assets includes amounts receivable from working interest partners in Occidental’s oil and gas operations, derivative assets and taxes receivable. INVENTORIES Materials and supplies are valued at weighted-average cost and are reviewed periodically for obsolescence. Oil, NGL and natural gas inventories are valued at the lower of cost or market. For the chemical segment, Occidental’s finished goods inventories are valued at the lower of cost or market. For most of its domestic inventories, other than materials and supplies, the chemical segment uses the last-in, first-out (LIFO) method as it better matches current costs and current revenue. For other countries, Occidental uses the first-in, first-out method (if the costs of goods are specifically identifiable) or the average-cost method (if the costs of goods are not specifically identifiable). PROPERTY, PLANT AND EQUIPMENT OIL AND GAS The carrying value of Occidental’s PP&E represents the cost incurred to acquire or develop the asset, including any AROs and capitalized interest, net of accumulated DD&A and any impairment charges. For assets acquired, PP&E cost is based on fair values at the acquisition date. AROs and interest costs incurred in connection with qualifying capital expenditures are capitalized and amortized over the lives of the related assets. Occidental uses the successful efforts method to account for its oil and gas properties. Under this method, Occidental capitalizes costs of acquiring properties, costs of drilling successful exploration wells and development costs. The costs of exploratory wells are initially capitalized pending a determination of whether proved reserves have been found. If proved reserves have been found, the costs of exploratory wells remain capitalized. For exploratory wells that find reserves that cannot be classified as proved when drilling is completed, costs continue to be capitalized as suspended exploratory drilling costs if there have been sufficient reserves found to justify completion as a producing well and sufficient progress is being made in assessing the reserves and the economic and operating viability of the project. At the end of each quarter, management reviews the status of all suspended exploratory drilling costs in light of ongoing exploration activities, in particular, whether Occidental is making sufficient progress in its ongoing exploration and appraisal efforts or, in the case of discoveries requiring government sanctioning, analyzing whether development negotiations are underway and proceeding as planned. If management determines that future appraisal drilling or development activities are unlikely to occur, associated suspended exploratory well costs are expensed. The following table summarizes the activity of capitalized exploratory well costs for continuing operations for the years ended December 31: millions 2021 2020 2019 Balance — beginning of year $ 211 $ 424 $ 112 Exploratory well costs acquired through the Acquisition — — 231 Additions to capitalized exploratory well costs pending the determination of proved reserves 163 122 383 Reclassifications to property, plant and equipment based on the determination of proved reserves (67) (309) (230) Capitalized exploratory well costs charged to expense (94) (26) (72) Balance — end of year $ 213 $ 211 $ 424 Occidental expenses annual lease rentals, the costs of injectants used in production and geological and geophysical costs as incurred. Occidental determines depreciation and depletion of oil and gas producing properties by the unit-of-production method. It amortizes leasehold costs over total proved reserves and capitalized development and successful exploration costs over proved developed reserves. As a result of Occidental's mid-year reserve review undertaken in the second quarter of 2021, DD&A rates for the second half of 2021 were lower compared to the first half of 2021 due to increased proved reserves primarily related to positive price revisions. Proved oil, NGL and natural gas reserves were estimated during this mid-year review using the unweighted arithmetic average of the first-day-of-the-month price for each month for the twelve months ended June 30, 2021, unless prices were defined by contractual arrangements. Proved oil and gas reserves are those quantities of oil and gas which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from a given date forward, from known reservoirs and under existing economic conditions, operating methods and government regulations prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation. Proved reserves includes PUD reserves. PUD reserves are supported by a management approved, detailed, field-level development plan where sufficient capital has been committed to develop those reserves. Only PUD reserves which are reasonably certain to be drilled within five years of booking and are supported by a final investment decision to drill them are included in the development plan. A portion of the PUD reserves associated with international operations are expected to be developed beyond the five years and are tied to approved long-term development projects. Occidental performs impairment tests with respect to its proved properties whenever events or circumstances indicate that the carrying value of property may not be recoverable. If there is an indication the carrying amount of the asset may not be recovered due to significant and prolonged declines in current and forward prices, significant changes in reserve estimates, changes in management’s plans, or other significant events, management will evaluate the property for impairment. Under the successful efforts method, if the sum of the undiscounted cash flows is less than the carrying value of the proved property, the carrying value is reduced to estimated fair value and reported as an impairment charge in the period. Individual proved properties are grouped for impairment purposes at the lowest level for which there are identifiable cash flows unless observable and comparable transactions are available. The fair value of impaired assets is typically determined based on the present value of expected future cash flows using discount rates believed to be consistent with those used by market participants. The impairment test incorporates a number of assumptions involving expectations of future cash flows which can change significantly over time. These assumptions include estimates of future production, product prices, contractual prices, estimates of risk-adjusted oil and gas proved and unproved reserves and estimates of future operating and development costs. It is reasonably possible that prolonged declines in commodity prices, reduced capital spending in response to lower prices or increases in operating costs could result in additional impairments. See Note 9 - Fair Value Measurements and below for further discussion of asset impairments. Net capitalized costs attributable to unproved properties were $14.8 billion as of December 31, 2021 and $18.6 billion as of December 31, 2020. The unproved amounts are not subject to DD&A until they are classified as proved properties. Individually insignificant unproved properties are combined and amortized on a group basis based on factors such as lease terms, success rates and other factors to provide for full amortization upon lease expiration or abandonment. Significant unproved properties, primarily as a result of the Acquisition, are assessed individually for impairment and when events or circumstances indicate that the carrying value of property may not be recovered a valuation allowance is provided if an impairment is indicated. Occidental periodically reviews significant unproved properties for impairments; numerous factors are considered, including but not limited to, availability of funds for future exploration and development activities, current exploration and development plans, favorable or unfavorable exploration activity on the property or the adjacent property, geologists’ evaluation of the property, the current and projected political and regulatory climate, contractual conditions and the remaining lease term for the properties. If an impairment is indicated, Occidental will first determine whether a comparable transaction for similar properties or implied acreage valuation derived from domestic onshore market participants is available and will adjust the carrying amount of the unproved property to its fair value using the market approach. In situations where the market approach is not observable and unproved reserves are available, undiscounted future net cash flows used in the impairment analysis are determined based on managements’ risk adjusted estimates of unproved reserves, future commodity prices and future costs to produce the reserves. If undiscounted future net cash flows are less than the carrying value of the property, the future net cash flows are discounted and compared to the carrying value for determining the amount of the impairment loss to record. Occidental utilizes the same assumptions and methodology discussed above for cash flows associated with proved properties. CHEMICAL Occidental’s chemical assets are depreciated using either the unit-of-production or the straight-line method, based upon the estimated useful lives of the facilities. The estimated useful lives of Occidental’s chemical assets, which range from three years to 50 years, are also used for impairment tests. The estimated useful lives for the chemical facilities are based on the assumption that Occidental will provide an appropriate level of annual expenditures to ensure productive capacity is sustained. Such expenditures consist of ongoing routine repairs and maintenance, as well as planned major maintenance activities (PMMA). Ongoing routine repairs and maintenance expenditures are expensed as incurred. PMMA costs are capitalized and amortized over the period until the next planned overhaul. Additionally, Occidental incurs capital expenditures that extend the remaining useful lives of existing assets, increase their capacity or operating efficiency beyond the original specification or add value through modification for a different use. These capital expenditures are not considered in the initial determination of the useful lives of these assets at the time they are placed into service. The resulting revision, if any, of the asset’s estimated useful life is measured and accounted for prospectively. Without these continued expenditures, the useful lives of these assets could decrease significantly. Other factors that could change the estimated useful lives of Occidental’s chemical assets include sustained higher or lower product prices, which are affected by domestic and international competition, demand, feedstock costs, energy prices, environmental regulations and technological changes. Occidental performs impairment tests on its chemical assets whenever events or changes in circumstances lead to a reduction in the estimated useful lives or estimated future cash flows that would indicate that the carrying amount may not be recoverable, or when management’s plans change with respect to those assets. Any impairment loss would be calculated as the excess of the asset’s net book value over its estimated fair value. MIDSTREAM AND MARKETING Occidental’s midstream and marketing PP&E is depreciated over the estimated useful lives of the assets, using either the unit-of-production or straight-line method. Occidental performs impairment tests on its midstream and marketing assets whenever events or changes in circumstances lead to a reduction in the estimated useful lives or estimated future cash flows that would indicate that the carrying amount may not be recoverable, or when management’s plans change with respect to those assets. Any impairment loss would be calculated as the excess of the asset’s net book value over its estimated fair value. IMPAIRMENTS AND OTHER CHARGES During 2021, Occidental’s oil and gas segment recognized pre-tax impairment and related charges of $282 million primarily related to undeveloped leases that either expired or were set to expire in the near-term, where Occidental had no plans to pursue exploration activities and, to a lesser extent, impairments of oil and gas materials and supplies inventories. During 2020, Occidental’s oil and gas segment recognized pre-tax impairment and related charges of $7.0 billion related to proved and unproved properties. An additional pre-tax impairment of $2.2 billion related to Ghana was included in discontinued operations. During 2020, Occidental’s midstream and marketing segment recognized pre-tax impairment and related charges of $1.2 billion related to goodwill associated with Occidental’s ownership in WES. Significant declines in the market value of WES’ publicly traded units resulted in management’s determination that, more likely than not, the fair value of the reporting unit was significantly less than its carrying value and the entire balance was fully impaired. The market value of WES’ publicly traded units is considered a Level 1 input. During 2019, Occidental’s oil and gas segment recognized pre-tax impairment and related charges of $285 million related to domestic undeveloped leases that were set to expire in the near-term, where Occidental had no plans to pursue exploration activities, and $39 million related to Occidental’s mutually agreed early termination of its Qatar Idd El Shargi South Dome (ISSD) contract. It is reasonably possible that prolonged declines in commodity prices, reduced capital spending in response to lower prices or increases in operating costs could result in additional impairments. FAIR VALUE MEASUREMENTS Occidental has categorized its assets and liabilities that are measured at fair value in a three-level fair value hierarchy, based on the inputs to the valuation techniques: Level 1 – using quoted prices in active markets for the assets or liabilities; Level 2 – using observable inputs other than quoted prices for the assets or liabilities; and Level 3 – using unobservable inputs. Transfers between levels, if any, are reported at the end of each reporting period. FAIR VALUES - RECURRING Occidental primarily applies the market approach for recurring fair value measurements, maximizes its use of observable inputs and minimizes its use of unobservable inputs. Occidental utilizes the mid-point between bid and ask prices for valuing the majority of its assets and liabilities measured and reported at fair value. In addition to using market data, Occidental makes assumptions in valuing its assets and liabilities, including assumptions about the risks inherent in the inputs to the valuation technique. For assets and liabilities carried at fair value, Occidental measures fair value using the following methods: ■ Occidental values exchange-cleared commodity derivatives using closing prices provided by the exchange as of the balance sheet date. These derivatives are classified as Level 1. ■ OTC bilateral financial commodity contracts, foreign exchange contracts, interest rate swaps, warrants, options and physical commodity forward purchase and sale contracts are generally classified as Level 2 and are generally valued using quotations provided by brokers or industry-standard models that consider various inputs, including quoted forward prices for commodities, time value, volatility factors, credit risk and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these inputs are observable in the marketplace throughout the full term of the instrument, and can be derived from observable data or are supported by observable prices at which transactions are executed in the marketplace. ■ Occidental values commodity derivatives based on a market approach that considers various assumptions, including quoted forward commodity prices and market yield curves. The assumptions used include inputs that are generally unobservable in the marketplace or are observable but have been adjusted based upon various assumptions and the fair value is designated as Level 3 within the valuation hierarchy. ■ Occidental values debt using market-observable information for debt instruments that are traded on secondary markets. For debt instruments that are not traded, the fair value is determined by interpolating the value based on debt with similar terms and credit risk. NON-FINANCIAL ASSETS Occidental uses market-observable prices for assets when comparable transactions can be identified that are similar to the asset being valued. When Occidental is required to measure fair value and there is not a market-observable price for the asset or for a similar asset then the cost or income approach is used depending on the quality of information available to support management’s assumptions. The cost approach is based on management’s best estimate of the current asset replacement cost. The income approach is based on management’s best assumptions regarding expectations of future net cash flows. The expected cash flows are discounted using a commensurate risk-adjusted discount rate. Such evaluations involve significant judgment, and the results are based on expected future events or conditions such as sales prices, estimates of future oil and gas production or throughput, development and operating costs and the timing thereof, economic and regulatory climates and other factors, most of which are often outside of management’s control. However, assumptions used reflect a market participant’s view of long-term prices, costs and other factors and are consistent with assumptions used in Occidental’s business plans and investment decisions. ACCRUED LIABILITIES - CURRENT Accrued liabilities - current included accrued payroll, commissions and related expenses of $677 million and $461 million as of December 31, 2021, and 2020, respectively. Dividends payable, also included in accrued liabilities - current, were $188 million and $189 million as of December 31, 2021, and 2020, respectively. Derivative financial instruments, also included in accrued liabilities - current, were $0.2 billion and $1.1 billion as of December 31, 2021, and 2020, respectively. ENVIRONMENTAL LIABILITIES AND EXPENDITURES Environmental expenditures that relate to current operations are expensed or capitalized as appropriate. Occidental records environmental liabilities and related charges and expenses for estimated remediation costs that relate to existing conditions from past operations when environmental remediation efforts are probable and the costs can be reasonably estimated. In determining the environmental remediation liability and the range of reasonably possible additional losses, Occidental refers to currently available information, including relevant past experience, remedial objectives, available technologies, applicable laws and regulations and cost-sharing arrangements. Occidental bases its environmental remediation liabilities on management’s estimate of the most likely cost to be incurred, using the most cost-effective technology reasonably expected to achieve the remedial objective. Occidental periodically reviews its environmental remediation liabilities and adjusts them as new information becomes available. Occidental generally records reimbursements or recoveries of environmental remediation costs in income when received, or when receipt of recovery is highly probable. Many factors could affect Occidental’s future remediation costs and result in adjustments to its environmental remediation liabilities and the range of reasonably possible additional losses. The most significant are: (1) cost estimates for remedial activities may vary from the initial estimate; (2) the length of time, type or amount of remediation necessary to achieve the remedial objective may change due to factors such as site conditions, the ability to identify and control contaminant sources or the discovery of additional contamination; (3) a regulatory agency may ultimately reject or modify Occidental’s proposed remedial plan; (4) improved or alternative remediation technologies may change remediation costs; (5) laws and regulations may change remediation requirements or affect cost sharing or allocation of liability; and (6) changes in allocation or cost-sharing arrangements may occur. Certain sites involve multiple parties with various cost-sharing arrangements, which fall into the following three categories: (1) environmental proceedings that result in a negotiated or prescribed allocation of remediation costs among Occidental and other alleged potentially responsible parties; (2) oil and gas ventures in which each participant pays its proportionate share of remediation costs reflecting its working interest; or (3) contractual arrangements, typically relating to purchases and sales of properties, in which the parties to the transaction agree to methods of allocating remediation costs. In these circumstances, Occidental evaluates the financial viability of other parties with whom it is alleged to be jointly liable, the degree of their commitment to participate and the consequences to Occidental of their failure to participate when estimating Occidental’s ultimate share of liability. Occidental records its environmental remediation liabilities at its expected net cost of remedial activities and, based on these factors, believes that it will not be required to assume a share of liability of such other potentially responsible parties in an amount materially above amounts reserved. In addition to the costs of investigations and cleanup measures, which often take in excess of 10 years at CERCLA NPL sites, Occidental’s environmental remediation liabilities include management’s estimates of the costs to operate and maintain remedial systems. If remedial systems are modified over time in response to significant changes in site-specific data, laws, regulations, technologies or engineering estimates, Occidental reviews and adjusts its environmental remediation liabilities accordingly. ASSET RETIREMENT OBLIGATIONS Occidental recognizes the fair value of AROs in the period in which a determination is made that a legal obligation exists to dismantle an asset and reclaim or remediate the property at the end of its useful life and the cost of the obligation can be reasonably estimated. The liability amounts are based on future retirement cost estimates and incorporate many assumptions such as time to abandonment, future inflation rates and the risk-adjusted discount rate. When the liability is initially recorded, Occidental capitalizes the cost by increasing the related PP&E balances. If the estimated future cost of the AROs changes, Occidental records an adjustment to both the AROs and PP&E. Over time, the liability is increased, expense is recognized for accretion and the capitalized cost is depreciated over the useful life of the asset. The majority of Occidental’s AROs relate to the plugging of wells and the related abandonment of oil and gas properties. At a certain number of its facilities, Occidental has identified conditional AROs that are related mainly to plant decommissioning. Occidental does not know or cannot estimate when it may settle these obligations. Therefore, Occidental cannot reasonably estimate the fair value of these liabilities. Occidental will recognize these conditional AROs in the periods in which sufficient information becomes available to reasonably estimate their fair values. The following table summarizes the activity of AROs for the years ended December 31: millions 2021 2020 Beginning balance $ 4,130 $ 4,659 Liabilities incurred – cap

REVENUE

REVENUE	12 Months Ended
REVENUE	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUE	NOTE 2 - REVENUE Revenue from customers is recognized when obligations under the terms of a contract are satisfied; this generally occurs with the delivery of oil, NGL, gas, chemicals or services such as transportation. Revenue from customers is measured as the amount of consideration Occidental expects to receive in exchange for the delivery of goods or services. Contracts may last from one month to one year or more and may have renewal terms that extend indefinitely at the option of either party. Price is typically based on market indexes. Volumes fluctuate due to production and, in certain cases, customer demand and transportation availability. Occidental records revenue net of certain taxes, such as sales taxes, that are assessed by governmental authorities on Occidental’s customers. Occidental does not incur significant costs to obtain contracts. Incidental items that are immaterial in the context of the contract are recognized as expenses. Sales of hydrocarbons and chemicals to customers are invoiced and settled on a monthly basis. Occidental is not usually subject to obligations for warranties, rebates, returns or refunds except in the case of customer incentive payments as discussed for the chemical segment below. Occidental does not typically receive payment in advance of satisfying its obligations under the terms of its sales contracts with customers; therefore, liabilities related to such payment are immaterial to Occidental. Occidental does not disclose consideration for remaining performance obligations with an original expected duration of one year or less or for variable consideration related to unsatisfied performance obligations. OIL AND GAS SEGMENT Revenue from oil and gas production is recognized when production is delivered and control passes to the customer. Revenues from the production of oil and gas properties in which Occidental has an interest with other producers are recognized on the basis of Occidental’s net revenue interest. CHEMICAL SEGMENT Revenue from chemical product sales is recognized when control passes to the customer. Certain incentive programs may provide for payments or credits to be made to customers based on the volume of product purchased over a defined period. Customer incentives are estimated and recorded as a reduction to revenue ratably over the contract period. Such estimates are evaluated and revised as warranted. Revenue from exchange contracts is excluded from revenue from customers. MIDSTREAM AND MARKETING SEGMENT Revenue from pipeline and gas processing is recognized upon the completion of the transportation or processing service. Revenue from power sales is recognized upon delivery. Net marketing revenue is recognized upon completion of contract terms that are a prerequisite to payment and upon title transfer for physical deliveries. Unless the normal purchases and sales exception has been elected, net marketing revenue is classified as a derivative, reported on a net basis, recorded at fair value. Changes in fair value are reflected in net sales and excluded from revenue from customers in the table below. DISAGGREGATION OF REVENUE FROM CONTRACTS WITH CUSTOMERS The following table reconciles revenue from customers to total net sales for the years ended December 31: millions 2021 2020 2019 Revenue from customers $ 25,959 $ 17,130 $ 19,192 All other revenues (a) (3) 679 1,719 Net sales $ 25,956 $ 17,809 $ 20,911 (a) Included net marketing derivatives, oil collars and calls and chemical exchange contracts. The table below presents Occidental's revenue from customers by segment, product and geographical area. The oil and gas segment typically sells its oil, NGL and gas at the lease or concession area. Chemical segment revenues are shown by geographic area based on the location of the sale. Excluding net marketing revenue, midstream and marketing segment revenues are shown by the location of sale. millions United States International Eliminations Total Year ended December 31, 2021 Oil and gas Oil $ 12,072 $ 2,844 $ — $ 14,916 NGL 2,203 325 — 2,528 Gas 1,524 291 — 1,815 Other 24 2 — 26 Segment total $ 15,823 $ 3,462 $ — $ 19,285 Chemical $ 4,995 $ 248 $ — $ 5,243 Midstream and marketing $ 1,969 $ 556 $ — $ 2,525 Eliminations $ — $ — $ (1,094) $ (1,094) Consolidated $ 22,787 $ 4,266 $ (1,094) $ 25,959 Year ended December 31, 2020 Oil and gas Oil $ 7,485 $ 2,403 $ — $ 9,888 NGL 838 217 — 1,055 Gas 660 326 — 986 Other 65 1 — 66 Segment total $ 9,048 $ 2,947 $ — $ 11,995 Chemical $ 3,524 $ 202 $ — $ 3,726 Midstream and marketing $ 1,595 $ 572 $ — $ 2,167 Eliminations $ — $ — $ (758) $ (758) Consolidated $ 14,167 $ 3,721 $ (758) $ 17,130 Year ended December 31, 2019 Oil and gas Oil $ 8,411 $ 3,939 $ — $ 12,350 NGL 658 283 — 941 Gas 424 339 — 763 Other (1) (5) — (6) Segment total $ 9,492 $ 4,556 $ — $ 14,048 Chemical $ 3,858 $ 222 $ — $ 4,080 Midstream and marketing (a) $ 1,977 $ 351 $ — $ 2,328 Eliminations $ — $ — $ (1,264) $ (1,264) Consolidated $ 15,327 $ 5,129 $ (1,264) $ 19,192 (a) The midstream and marketing segment included revenues from customers from WES from the date of the Acquisition to December 31, 2019. See Note 1 - Summary of Significant Accounting Policies for more information.

INVENTORIES

INVENTORIES	12 Months Ended
INVENTORIES	Dec. 31, 2021
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 3 - INVENTORIES Finished goods primarily represents oil, which is carried at the lower of weighted-average cost or net realizable value, and caustic soda and chlorine, which are valued under the LIFO method. Inventories consisted of the following as of December 31: millions 2021 2020 Raw materials $ 96 $ 70 Materials and supplies 783 848 Commodity inventory and finished goods 1,066 1,009 1,945 1,927 Revaluation to LIFO (99) (29) Total $ 1,846 $ 1,898

INVESTMENTS AND RELATED-PARTY T

INVESTMENTS AND RELATED-PARTY TRANSACTIONS	12 Months Ended
INVESTMENTS AND RELATED-PARTY TRANSACTIONS	Dec. 31, 2021
Investments And Related Party Transactions Disclosure [Abstract]
INVESTMENTS AND RELATED-PARTY TRANSACTIONS	NOTE 4 - INVESTMENTS AND RELATED-PARTY TRANSACTIONS EQUITY INVESTMENTS Occidental’s significant equity investments are presented in investments in unconsolidated entities and in other - deferred credits and other liabilities. As of December 31, 2021, and 2020, investments in unconsolidated entities were $2.9 billion and $3.3 billion, respectively. Occidental’s equity investments presented in investments in unconsolidated entities primarily consist of the following: millions % Interest Carrying amount WES (a) 51.8 % $ 1,963 OxyChem Ingleside Facility 50.0 % 599 OLCV - related various 164 Other various 212 Total Investments in unconsolidated entities (b) $ 2,938 (a) In December 2021, Occidental sold 2.5 million limited partner units of WES for proceeds of approximately $50 million. In March 2021, Occidental sold 11.5 million limited partner units for proceeds of approximately $200 million, resulting in a gain of $102 million. In the first quarter of 2020, Occidental recorded an impairment of $1.2 billion in goodwill related to its ownership in WES and in the third quarter of 2020, recorded an other than temporary impairment of $2.7 billion related to the WES equity method investment. See Note 9 - Fair Value Measurements for more information on the impairments. (b) Not presented in investments in unconsolidated entities is Occidental’s 24.5% ownership in DEL, which has a carrying value of $217 million. Refer to the discussion below regarding the presentation of Occidental’s equity investment in DEL. As of December 31, 2021 and 2020, Occidental’s significant equity investments consisted of investments in WES, OxyChem Ingleside Facility and DEL. In November 2021, Occidental received approximately $560 million in cash distributions as a result of a refinancing transaction at DEL. The cash distributions received from the refinancing transaction were comprised of $110 million in dividends and $450 million in excess distributions. As Occidental may be requested to provide financial support to DEL, the excess distributions were recorded against the $217 million carrying amount of the equity investment. The net of the carrying value of the investment in DEL and the excess distributions was $233 million and is presented in deferred credits and other liabilities - other. Occidental recorded the $110 million in dividends as a return on investment in cash flow from operations and the $450 million excess distribution as a return of investment in cash flow from investing. As part of the Acquisition, Occidental acquired equity investments in certain oil and gas properties and gathering and processing assets and assumed an associated notes payable which Occidental has the legal right of setoff and intends to net settle with its ownership interest in the equity investments. The notes payable can be net settled starting in 2022. The carrying value of the investment and note payable were $2.9 billion as of December 31, 2021, respectively. Accordingly, the equity investments and the related notes payable are presented net on the Consolidated Balance Sheets. Dividends received from equity investments were $652 million, $678 million and $422 million to Occidental in 2021, 2020 and 2019, respectively. As of December 31, 2021 and 2020, cumulative undistributed earnings of equity-method investees since they were acquired was $242 million and $166 million, respectively. As of December 31, 2021, Occidental’s investments in equity investees exceeded the underlying equity in net assets by approximately $667 million, of which, $347 million represented PP&E and equity investments with the remainder comprised of intangibles, both are subject to amortization over their estimated average lives. The following table presents the summarized financial information of its equity-method investments combined for the years ended and as of December 31: millions 2021 2020 2019 Summarized Results of Operations (a) Revenues and other income $ 6,252 $ 5,455 $ 26,520 Costs and expenses 4,569 5,455 24,084 Net income $ 1,683 $ — $ 2,436 Summarized Balance Sheet Current assets $ 3,387 $ 1,419 $ 1,130 Non-current assets $ 19,341 $ 18,693 $ 21,158 Current liabilities $ 1,976 $ 1,549 $ 785 Long-term debt $ 9,464 $ 7,860 $ 8,673 Other non-current liabilities $ 1,187 $ 866 $ 859 Stockholders’ equity $ 10,101 $ 9,837 $ 11,971 (a) The 2019 Summarized Results of Operations included results of Plains for the period beginning January 1, 2019 through the date Occidental ’ s interest was sold in September 2019. Plains accounted for $24.7 billion of equity-method investment revenues and other income in 2019. RELATED-PARTY TRANSACTIONS Occidental sells oil, NGL, natural gas, chemicals, power and steam to and purchases oil, NGL and chemicals from its equity method investees and other related parties. Occidental is charged service fees primarily related to gathering, processing, oil, NGL and natural gas treatment by certain of its equity investees and other related parties. During 2021, 2020 and 2019, Occidental entered into the following related-party transactions and had the following amounts due from or to its related parties for the years ended December 31: millions 2021 2020 2019 Sales (a,c) $ 261 $ 301 $ 691 Purchases (b,c) $ 773 $ 1,112 $ 463 Services (d) $ 942 $ 1,101 $ 28 Advances and amounts due from related parties (c) $ 57 $ 62 $ 133 Amounts due to related parties (c) $ 280 $ 296 $ 463 (a) In 2021 and 2020, sales of Occidental-produced oil and NGL to WES accounted for 58% and 70% of these totals, respectively. In 2019, sales of Occidental-produced oil and NGL to Plains Pipeline affiliates accounted for 87% of these totals. In September 2019, Occidental sold its equity investment in Plains. See Note 5 - Acquisitions, Divestitures and Other Transactions for additional information. (b) In 2021 and 2020, purchases of gas and NGL marketed on behalf of WES accounted for 27% and 59% of related party purchases, respectively, while purchases of ethylene from the OxyChem Ingleside Facility accounted for 70% and 41% in 2021 and 2020 respectively, and, in 2019, for 98% of related party purchases. (c) Excluded sales to and purchases from WES and amounts due to and from WES in 2019 as it was a consolidated subsidiary from the date of the Acquisition through December 31, 2019. (d) In 2021 and 2020, services primarily related to fees charged by WES to gather, process and treat Occidental produced oil, NGL and natural gas. Excluded charges to WES for shared corporate services.

ACQUISITIONS, DIVESTITURES AND

ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS	12 Months Ended
ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS	Dec. 31, 2021
Business Combinations, Asset Acquisitions, Dispositions and Other Disclosure [Abstract]
ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS	NOTE 5 - ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS 2021 In November 2021, Occidental entered into an agreement to sell certain non-strategic assets in the Permian Basin. The transaction closed in January 2022 for net cash proceeds of approximately $190 million. The assets and liabilities, of which $72 million is related to PP&E, net and $7 million is related to AROs, were presented as held for sale as of December 31, 2021. In November 2021, Occidental acquired additional working interests in certain assets in the Permian EOR business unit for a net purchase price of approximately $285 million. In October 2021, Occidental closed the sale of its Ghana assets. See below discussion on Discontinued Operations for additional information. This divestiture completed Occidental's large-scale asset divestiture program. In June 2021, Occidental entered into an agreement to sell certain non-strategic assets in the Permian Basin. The transaction closed in July 2021 for net cash proceeds of approximately $475 million. The difference in the assets' net book value and adjusted purchase price was treated as a recovery of cost and normal retirement, which resulted in no gain or loss being recognized. In March 2021, Occidental completed the sale of certain non-operated assets in the DJ Basin for net cash proceeds of approximately $280 million. The difference in the assets' net book value and adjusted purchase price was treated as a recovery of cost and normal retirement, which resulted in no gain or loss being recognized. In 2021, Occidental sold 14 million limited partner units of WES for proceeds of approximately $250 million, see Note 4 - Investments and Related -Party Transactions . 2020 In November 2020 and December 2020, Occidental divested of certain non-core, largely non-operated proved and unproved acreage in the Permian for a loss of approximately $820 million. The losses have been presented within gains (losses) on sale of assets, net in the Consolidated Statement of Operations. In October 2020, Occidental entered into an agreement to sell its onshore oil and gas Colombia assets. The transaction closed in December 2020, and Occidental recorded a loss on sale of approximately $353 million. The loss has been presented within gains (losses) on sale of assets, net in the Consolidated Statement of Operations. In August 2020, Occidental entered into an agreement to sell approximately 4.5 million mineral acres and 1 million fee surface acres located in Wyoming, Colorado and Utah for approximately $1.33 billion. The transaction closed in October 2020 for net cash proceeds of approximately $1.0 billion, after satisfying $329 million of liabilities associated with the sale of future royalties. Occidental recorded a loss on sale of $440 million. The loss has been presented within gains (losses) on sale of assets, net in the Consolidated Statement of Operations. 2019 In December 2019, Occidental disposed of real estate assets for $565 million. Occidental utilized net proceeds to pay down a portion of the Term Loans. Concurrent with the sale, Occidental entered a 13-year lease for part of the real estate assets. Based on the terms of the lease, Occidental treated this as a failed sale-leaseback, retained the related book value in PP&E and recognized a finance lease of approximately $300 million based on the discounted future minimum lease payments. In November 2019, Occidental and Ecopetrol closed on the joint venture to develop approximately 97,000 net acres of Occidental’s Midland Basin unproved properties in the Permian Basin. Ecopetrol paid $750 million in cash at closing and up to $750 million of carried capital in exchange for a 49% interest in the new venture. Occidental recognized a gain of $563 million on the sale. Following the close, Occidental owned a 51% interest and operates the joint venture. During the carry period, Ecopetrol will pay 75% of Occidental’s share of capital expenditures, up to $750 million. The joint venture allows Occidental to accelerate its development plans in the Midland Basin, where it currently has minimal activity. Occidental will retain production and cash flow from its existing operations in the Midland Basin. In September 2019, Occidental sold its remaining equity investment in Plains for net proceeds of $646 million, which resulted in a pre-tax gain of $114 million. The proceeds were used to pay down a portion of the Term Loans. In August 2019, the Acquisition was consummated. The Acquisition added to Occidental’s oil and gas portfolio, primarily in the Permian Basin, DJ Basin and Gulf of Mexico and Algeria and a general and limited partner interest in WES. Total consideration of the Acquisition was approximately $35.7 billion in cash and common stock. See Note 14 - Stockholders’ Equity for additional information. From the date of the Acquisition through December 31, 2019, revenues and the net loss attributable to common stockholders associated with the operations acquired through the Acquisition totaled $4.2 billion and $1.7 billion, respectively, which included a charge as a result of recording Occidental’s investment in WES at fair value as of December 31, 2019 upon the loss of control. The following table summarizes the Acquisition-related costs incurred for the years ended December 31: millions 2021 2020 2019 Employee severance and related employee cost $ 117 $ 314 $ 1,033 IT costs 36 9 15 Licensing fees for critical seismic data — — 401 Bank, legal, consulting and other — 16 198 Total $ 153 $ 339 $ 1,647 Employee severance and related employee cost primarily related to one-time severance costs and the accelerated vesting of certain Anadarko share-based awards for former Anadarko employees based on the terms of the Acquisition Agreement and existing change of control provisions within the former Anadarko employment agreements. In addition, this category included expenses for a voluntary separation program for eligible employees and retention awards for certain employees. The IT costs primarily related to Occidental’s efforts to integrate the Anadarko finance, supply chain, asset integrity, and well life cycle systems. The seismic licensing fees related to relicensing of critical seismic data related to the Gulf of Mexico, Permian Basin and DJ Basin that Anadarko had licensed from third-party vendors. The third-party vendors who own the seismic data required a transfer fee in order for Occidental to use the data. The following table summarizes the unaudited pro forma condensed financial information of Occidental for the year ended December 31, 2019 as if the Acquisition had occurred on January 1, 2018: millions except per-share amounts Revenues $ 28,723 Net loss attributable to common stockholders (a) $ (769) Net loss attributable to common stockholders per share—basic $ (0.95) Net loss attributable to common stockholders per share—diluted $ (0.95) (a) Excluding the pro-forma results of WES, net loss attributable to common stockholders would be $(1.1) billion for the year ended December 31, 2019. The unaudited pro forma information is presented for illustration purposes only and is not necessarily indicative of the operating results that would have occurred had the Acquisition been completed on January 1, 2018, nor is it necessarily indicative of future operating results of the combined entity. The unaudited pro forma information for 2019 is a result of combining the statements of operations of Occidental with the pre-Acquisition results from January 1, 2019 of Anadarko and included adjustments for revenues and direct expenses. The pro forma results exclude results from any assets classified as held for sale, any cost savings anticipated as a result of the Acquisition and the impact of any Acquisition-related costs. The pro forma results include adjustments to DD&A based on the purchase price allocated to PP&E and the estimated useful lives as well as adjustments to interest expense. The pro forma adjustments include estimates and assumptions based on currently available information. Management believes the estimates and assumptions are reasonable and the relative effects of the Acquisition are properly reflected. DISCONTINUED OPERATIONS In 2021, Occidental recorded a $437 million after-tax loss contingency in discontinued operations associated with its former operations in Ecuador, see Note 13 - Lawsuits, Claims, Commitments and Contingencies. In October 2021, Occidental closed the sale of its Ghana assets for $750 million and net proceeds of $555 million, after closing adjustments to reflect an April 1, 2021 effective date. In addition, Occidental settled certain tax claims related to historical operations in Ghana for $170 million. Prior to the sale, 2021 operations in Ghana resulted in an after-tax loss of $31 million. The following table presents the amounts reported in discontinued operations, net of income taxes, related to the Ghana assets for the years ended December 31, 2021 and 2020 and for the Ghana, Mozambique and South Africa assets subsequent to the Acquisition closing date through December 31, 2019: millions 2021 2020 2019 Revenues and other income Net sales $ 458 $ 419 $ 221 Costs and other deductions Oil and gas lease operating expense 71 117 45 Fair value adjustment on assets held for sale (a) 409 2,263 85 Other 24 48 45 Total costs and other deductions $ 504 $ 2,428 $ 175 Income (loss) before income taxes $ (46) $ (2,009) $ 46 Income tax benefit (expense) 15 711 (61) Discontinued operations, net of tax $ (31) $ (1,298) $ (15) (a) For 2021, included effective date to close date adjustments as well as settlements of certain tax claims. The following table presents amounts related to the Ghana assets reported as held for sale in the Consolidated Balance Sheet as of December 31, 2020: millions 2020 Current assets $ 37 Property, plant and equipment, net 1,364 Long-term receivables and other assets, net 32 Assets held for sale $ 1,433 Current liabilities $ 84 Long-term debt, net - finance leases 175 Deferred income taxes 328 Asset retirement obligations 166 Liabilities of assets held for sale $ 753 Net assets held for sale $ 680

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
LONG-TERM DEBT	Dec. 31, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT	NOTE 6 - LONG-TERM DEBT As of December 31, 2021 and 2020, Occidental’s debt consisted of the following: millions 2021 2020 4.850% senior notes due 2021 $ — $ 147 2.600% senior notes due 2021 — 224 Variable rate bonds due 2021 (1.193% as of December 31, 2020) — 27 2.700% senior notes due 2022 — 629 3.125% senior notes due 2022 — 276 2.600% senior notes due 2022 101 101 Variable rate bonds due 2022 (1.730% as of December 31, 2020) — 1,052 2.700% senior notes due 2023 442 927 8.750% medium-term notes due 2023 22 22 2.900% senior notes due 2024 949 3,000 6.950% senior notes due 2024 650 650 3.450% senior notes due 2024 127 248 8.000% senior notes due 2025 500 500 5.875% senior notes due 2025 900 900 3.500% senior notes due 2025 326 750 5.500% senior notes due 2025 750 750 5.550% senior notes due 2026 1,100 1,100 3.200% senior notes due 2026 797 1,000 3.400% senior notes due 2026 779 1,150 7.500% debentures due 2026 112 112 8.500% senior notes due 2027 500 500 3.000% senior notes due 2027 634 750 7.125% debentures due 2027 150 150 7.000% debentures due 2027 48 48 6.625% debentures due 2028 14 14 7.150% debentures due 2028 235 235 7.200% senior debentures due 2028 82 82 6.375% senior notes due 2028 600 600 7.200% debentures due 2029 135 135 7.950% debentures due 2029 116 116 8.450% senior debentures due 2029 116 116 3.500% senior notes due 2029 1,477 1,500 Variable rate bonds due 2030 (0.900% and 2.700% as of December 31, 2021 and 2020, respectively) 68 68 8.875% senior notes due 2030 1,000 1,000 6.625% senior notes due 2030 1,500 1,500 6.125% senior notes due 2031 1,250 1,250 7.500% senior notes due 2031 900 900 7.875% senior notes due 2031 500 500 6.450% senior notes due 2036 1,750 1,750 Zero Coupon senior notes due 2036 2,269 2,269 4.300% senior notes due 2039 693 750 7.950% senior notes due 2039 325 325 6.200% senior notes due 2040 750 750 4.500% senior notes due 2044 608 625 (continued on next page) millions (continued) 2021 2020 4.625% senior notes due 2045 634 750 6.600% senior notes due 2046 (a) 1,157 1,100 4.400% senior notes due 2046 976 1,200 4.100% senior notes due 2047 663 750 4.200% senior notes due 2048 961 1,000 4.400% senior notes due 2049 704 750 7.730% debentures due 2096 58 60 7.500% debentures due 2096 60 78 7.250% debentures due 2096 5 49 Total borrowings at face value $ 28,493 $ 35,235 Adjustments to book value: Unamortized premium, net 670 748 Debt issuance costs (135) (156) Net book value of debt $ 29,028 $ 35,827 Long-term finance leases 504 316 Current finance leases 85 42 Total debt and finance leases $ 29,617 $ 36,185 Less current maturities of financing leases (85) (42) Less current maturities of long-term debt (101) (398) Long-term debt, net $ 29,431 $ 35,745 (a) Occidental entered into an exchange agreement, dated as of October 20, 2021, among Occidental and certain holders of its subsidiary Anadarko’s 7.250% debentures due 2096, its subsidiary Anadarko Holding Company’s 7.500% debentures due 2096 and its subsidiary Anadarko’s 7.730% debentures due 2096 (such notes, the 2096 Notes), pursuant to which Occidental issued approximately $57.2 million of 6.600% senior notes due 2046 as additional securities under the Indenture, dated as of August 8, 2019, between Occidental and The Bank of New York Mellon Trust Company, N.A., as trustee (the 2019 Indenture), in exchange for the cancellation of approximately $64.8 million of the 2096 notes. The additional securities have identical terms and conditions as Occidental’s previously issued 6.600% senior notes due 2046 (the Initial Securities), other than the issue date and the date from which interest will accrue, are restricted securities with a related legend and initially have a different CUSIP number and ISIN number from the Initial Securities and for all purposes are treated as a single class with the outstanding Initial Securities under the 2019 Indenture. DEBT MATURITIES As of December 31, 2021, future principal payments on debt were approximately $28.5 billion, of which, $101 million is due in 2022, $465 million is due in 2023, $1.7 billion is due in 2024, $2.5 billion is due in 2025, and $23.7 billion is due in 2026 and thereafter. In January 2022, Occidental used cash on hand to repay $101 million in outstanding 2.600% senior notes due April 2022 at face value. Subsequent to the purchase and retirement of this note, Occidental’s face value of debt was $28.4 billion with no maturities in 2022. DEBT ACTIVITY - 2021 The following table summarizes Occidental’s debt activity for the year ended December 31, 2021: millions Borrowings at face value Total borrowings at face value as of December 31, 2020 $ 35,235 First quarter: 4.850% senior notes due 2021 $ (147) Variable rate bonds due 2021 (27) Third quarter: 2.700% senior notes due 2022 $ (278) 2.700% senior notes due 2023 (484) 3.450% senior notes due 2024 (81) 2.900% senior notes due 2024 (1,620) 3.500% senior notes due 2025 (229) 3.400% senior notes due 2026 (224) 3.200% senior notes due 2026 (110) 2.600% senior notes due 2021 (224) Floating interest rate notes due August 2022 (1,051) Fourth quarter: 4.400% senior notes due 2046 $ (224) 4.400% senior notes due 2049 (46) 7.730% debentures due 2096 (3) 7.500% debentures due 2096 (18) 7.250% debentures due 2096 (44) 6.600% senior notes due 2046 57 3.450% senior notes due 2024 (40) 2.900% senior notes due 2024 (431) 3.500% senior notes due 2025 (195) 3.400% senior notes due 2026 (148) 3.200% senior notes due 2026 (93) 3.000% senior notes due 2027 (116) 3.500% senior notes due 2029 (23) 4.100% senior notes due 2047 (87) 4.200% senior notes due 2048 (39) 4.300% senior notes due 2039 (57) 4.500% senior notes due 2044 (17) 4.625% senior notes due 2045 (116) 3.125% senior notes due 2022 (276) 2.700% senior notes due 2022 (351) Total borrowings at face value as of December 31, 2021 $ 28,493 DEBT ACTIVITY - 2020 The following table summarizes Occidental’s debt issuances, repurchases, repayments and exchanges for the year ended December 31, 2020: millions Borrowings at face value Total borrowings at face value as of December 31, 2019 $ 37,401 Issuance of July 2020 notes: 8.000% senior notes due 2025 500 8.500% senior notes due 2027 500 8.875% senior notes due 2030 1,000 July tender and purchase: 4.100% senior notes due February 2021 (943) Variable rate bonds due February 2021 (473) 4.850% senior notes due March 2021 (530) 2.600% senior notes due August 2021 (51) Issuance of August 2020 notes: 5.875% senior notes due 2025 900 6.375% senior notes due 2028 600 6.625% senior notes due 2030 1,500 August and September tender and purchase: 4.100% senior notes due February 2021 (139) Variable rate bonds due August 2021 (123) 2.600% senior notes due August 2021 (1,099) Variable rate bonds due August 2022 (448) 2.600% senior notes due April 2022 (171) 2.700% senior notes due August 2022 (102) 2.700% senior notes due February 2023 (52) August WES exchange: 6.500% note payable to WES due 2038 (260) September Term Loan repayment: 2-year variable rate term loan due 2021 (500) October Term Loan and note repayment: 2-year variable rate bonds due August 2021 (377) 0.00% senior notes due October 2036 (2) 2-year variable rate term loan due September 2021 (1,010) November Term Loan repayment: 2-year variable rate term loan due September 2021 (232) Issuance of December 2020 notes: 5.500% senior notes due 2025 750 6.125% senior notes due 2031 1,250 December tender and purchase: 2.600% senior notes due August 2021 (126) 3.125% senior notes due February 2022 (538) 2.600% senior notes due April 2022 (128) 2.700% senior notes due August 2022 (1,269) 2.700% senior notes due February 2023 (212) December Term Loan and note repayment: 2-year variable rate term loan due September 2021 (214) 4.100% senior notes due February 2021 (167) Total borrowings at face value as of December 31, 2020 $ 35,235 In the fourth quarter of 2021, Occidental used cash on hand to complete a $1.6 billion cash tender offer for outstanding senior notes with a face value of $1.5 billion and maturities ranging from 2024 through 2049. Also in December 2021, Occidental used cash on hand to retire $627 million of senior notes due 2022. In the third quarter of 2021, Occidental completed a cash tender for outstanding senior notes with a face value of $3.0 billion and maturities ranging from 2022 through 2026, paid $224 million of senior notes upon maturity and fully retired $1.1 billion of floating interest rate notes due August 2022. In the first quarter of 2021, Occidental repaid $174 million of debt upon maturity. No debt matured or was otherwise paid during the second quarter of 2021. In July, August, and December, 2020, Occidental issued $7.0 billion in senior unsecured notes, in aggregate, with maturities ranging from 2025 to 2031 and used the net proceeds to tender $3.5 billion of 2021, $2.7 billion of 2022 and $264 million of 2023 maturities. In addition, Occidental used proceeds from the sale of mineral and surface acres located in Wyoming, Colorado and Utah; the Colombian asset sale and proceeds from other divestitures and cash on hand to repay $2.5 billion of 2021 and $2 million of 2036 maturities. In August 2020, Occidental exchanged approximately 27.9 million WES common units to retire a $260 million note payable to WES, resulting in a net loss of $46 million, which included a $76 million gain on debt extinguished associated with an unamortized premium on the note payable to WES. This net loss on exchange has been presented in (losses) gains on sale of assets, net in the Consolidated Statement of Operations. REVOLVING CREDIT FACILITY In December 2021, Occidental entered into the Second Amended and Restated Credit Agreement on its existing $5.0 billion RCF in which the total commitment was decreased to $4.0 billion and the LIBOR benchmark was changed to SOFR. In addition, the interest rate margin and the facility fee rates were amended to be subject to adjustments based on Occidental’s performance on specified sustainability target thresholds with respect to absolute reductions in GHG emissions from its worldwide operated assets. The RCF maturity date was extended to June 30, 2025. Borrowings under the RCF bear interest at SOFR benchmark rates, plus a margin based on Occidental’s senior debt ratings. The facility has similar terms to other debt agreements and does not contain material adverse change clauses or debt ratings triggers that could restrict Occidental’s ability to borrow, or that would permit lenders to terminate their commitments or accelerate debt repayment. The facility provides for the termination of loan commitments and requires immediate repayment of any outstanding amounts if certain events of default occur. As of the date of this filing, Occidental has no drawn amounts under the RCF. In 2021, Occidental paid average annual facility fees of 0.302% on the total commitment amount. RECEIVABLES SECURITIZATION FACILITY In December 2021, Occidental amended and extended its existing receivables securitization facility to December 2024. As of December 31, 2021, the facility had $400 million of available borrowing capacity and no drawn amounts. The amended facility includes adjustments based on the same specified sustainability target thresholds as contained in the RCF. ZERO COUPONS The Zero Coupons have an aggregate principal amount due at the 2036 maturity of approximately $2.3 billion, reflecting an accretion rate of 5.24%. The Zero Coupons can be put to Occidental in October of each year, in whole or in part, for the then-accreted value of the outstanding Zero Coupons. The Zero Coupons can next be put to Occidental in October 2022, which, if put in whole, would be $1.1 billion at such date. Occidental has the ability and intent to refinance these obligations under the RCF or other committed facilities. FAIR VALUE OF DEBT Occidental estimates the fair value of fixed-rate debt based on the quoted market prices for those instruments or on quoted market yields for similarly rated debt instruments, taking into account such instruments’ maturities. The estimated fair values of Occidental’s debt as of December 31, 2021, and 2020, the majority of which were classified as Level 1, were approximately $31.1 billion and $33.8 billion, respectively. Occidental’s exposure to changes in interest rates relates primarily to its variable-rate, long-term debt obligations, and is not material. As of December 31, 2021, and 2020, variable-rate debt constituted approximately 0.2% and 3% of Occidental’s total debt, respectively. DEBT RATINGS As of the date of this filing, Occidental’s long-term debt was rated BB+ by Fitch Ratings, Ba2 by Moody’s Investors Service and BB+ by Standard and Poor’s. In January 2022, Standard and Poor’s upgraded Occidental’s credit rating to BB+. Any downgrade in credit ratings could impact Occidental's ability to access capital markets and increase its cost of capital. In addition, given that Occidental’s current debt ratings are non-investment grade, Occidental may be requested, and in some cases required, to provide collateral in the form of cash, letters of credit, surety bonds or other acceptable support as financial assurance of its performance and payment obligations under certain contractual arrangements such as pipeline transportation contracts, environmental remediation obligations, oil and gas purchase contracts and certain derivative instruments. As of the date of this filing, Occidental has provided required financial assurances through a combination of cash, letters of credit and surety bonds and has not issued any letters of credit under the RCF or other committed facilities. For additional information, see Risk Factors in Part I, Item IA of this Form 10-K.

LEASE COMMITMENTS

LEASE COMMITMENTS	12 Months Ended
LEASE COMMITMENTS	Dec. 31, 2021
Leases [Abstract]
LEASE COMMITMENTS	NOTE 7 - LEASE COMMITMENTS Occidental identifies leases through its accounts payable and contract monitoring processes. Lease assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Lease assets include the lease liability, upfront payments and costs incurred to execute the lease and are amortized on a straight-line basis over the lease term. Occidental assesses the likelihood of exercising renewal, termination and purchase options to determine the lease term. Occidental uses its incremental borrowing rate at commencement date to determine the present value of lease payments. The incremental borrowing rate is the rate of interest that Occidental would pay to borrow an amount equal to the lease payments over a similar term on a collateralized basis in a similar economic environment. Certain leases include variable lease payments based on the underlying asset’s operations that are not included in the lease asset and liability. Occidental has operating leases for oil and gas exploration and development equipment, including offshore and onshore drilling rigs of $32 million, compressors of $62 million, storage facilities of $52 million, office space of $386 million and other field equipment of $32 million. Operating lease terms generally range from one one Occidental’s finance leases include a gas treating and processing plant, oil and gas exploration and development equipment, compressors, real estate offices and field equipment of approximately $589 million. The following table presents lease balances and their classification on the Consolidated Balance Sheets as of December 31: millions Balance sheet classification 2021 2020 Assets: Operating Operating lease assets $ 726 $ 1,062 Finance Property, plant and equipment 581 365 Total lease assets $ 1,307 $ 1,427 Liabilities: Current Operating Current operating lease liabilities $ 186 $ 473 Finance Current maturities of long-term debt 85 42 Non-current Operating Deferred credits and other liabilities - Operating lease liabilities 585 641 Finance Long-term debt, net 504 316 Total lease liabilities $ 1,360 $ 1,472 As of December 31, 2021, Occidental will make the following lease payments: millions Operating Leases (a) Finance Leases (b) Total 2022 $ 183 $ 85 $ 268 2023 128 84 212 2024 99 82 181 2025 78 68 146 2026 94 57 151 Thereafter 302 300 602 Total lease payments 884 676 1,560 Less: Interest (113) (87) (200) Total lease liabilities $ 771 $ 589 $ 1,360 (a) The weighted-average remaining lease term is 7.3 years and the weighted-average discount rate is 3.40%. (b) The weighted-average remaining lease term is 9.2 years and the weighted-average discount rate is 2.91%. The following tables present Occidental’s total lease cost classifications and cash paid for operating and finance lease liabilities for the years ended December 31: millions Lease cost classification (a) 2021 2020 Operating lease costs (b) Property, plant and equipment, net $ 222 $ 197 Operating expense and cost of sales 487 557 Selling, general and administrative expenses 109 107 Finance lease cost Amortization of ROU assets 39 29 Interest on lease liabilities 13 14 Total lease cost $ 870 $ 904 (a) Amounts reflected are gross before joint-interest recoveries. Lease payments are reduced by joint-interest recoveries on the income statement through the joint-interest billing process. (b) Included short-term lease cost of $238 million and $207 million and variable lease cost of $120 million and $95 million for the years ended December 31, 2021 and 2020, respectively. millions 2021 2020 Operating cash flows $ 401 $ 506 Investing cash flows $ 73 $ 89 Financing cash flows $ 39 $ 29
LEASE COMMITMENTS	NOTE 7 - LEASE COMMITMENTS Occidental identifies leases through its accounts payable and contract monitoring processes. Lease assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Lease assets include the lease liability, upfront payments and costs incurred to execute the lease and are amortized on a straight-line basis over the lease term. Occidental assesses the likelihood of exercising renewal, termination and purchase options to determine the lease term. Occidental uses its incremental borrowing rate at commencement date to determine the present value of lease payments. The incremental borrowing rate is the rate of interest that Occidental would pay to borrow an amount equal to the lease payments over a similar term on a collateralized basis in a similar economic environment. Certain leases include variable lease payments based on the underlying asset’s operations that are not included in the lease asset and liability. Occidental has operating leases for oil and gas exploration and development equipment, including offshore and onshore drilling rigs of $32 million, compressors of $62 million, storage facilities of $52 million, office space of $386 million and other field equipment of $32 million. Operating lease terms generally range from one one Occidental’s finance leases include a gas treating and processing plant, oil and gas exploration and development equipment, compressors, real estate offices and field equipment of approximately $589 million. The following table presents lease balances and their classification on the Consolidated Balance Sheets as of December 31: millions Balance sheet classification 2021 2020 Assets: Operating Operating lease assets $ 726 $ 1,062 Finance Property, plant and equipment 581 365 Total lease assets $ 1,307 $ 1,427 Liabilities: Current Operating Current operating lease liabilities $ 186 $ 473 Finance Current maturities of long-term debt 85 42 Non-current Operating Deferred credits and other liabilities - Operating lease liabilities 585 641 Finance Long-term debt, net 504 316 Total lease liabilities $ 1,360 $ 1,472 As of December 31, 2021, Occidental will make the following lease payments: millions Operating Leases (a) Finance Leases (b) Total 2022 $ 183 $ 85 $ 268 2023 128 84 212 2024 99 82 181 2025 78 68 146 2026 94 57 151 Thereafter 302 300 602 Total lease payments 884 676 1,560 Less: Interest (113) (87) (200) Total lease liabilities $ 771 $ 589 $ 1,360 (a) The weighted-average remaining lease term is 7.3 years and the weighted-average discount rate is 3.40%. (b) The weighted-average remaining lease term is 9.2 years and the weighted-average discount rate is 2.91%. The following tables present Occidental’s total lease cost classifications and cash paid for operating and finance lease liabilities for the years ended December 31: millions Lease cost classification (a) 2021 2020 Operating lease costs (b) Property, plant and equipment, net $ 222 $ 197 Operating expense and cost of sales 487 557 Selling, general and administrative expenses 109 107 Finance lease cost Amortization of ROU assets 39 29 Interest on lease liabilities 13 14 Total lease cost $ 870 $ 904 (a) Amounts reflected are gross before joint-interest recoveries. Lease payments are reduced by joint-interest recoveries on the income statement through the joint-interest billing process. (b) Included short-term lease cost of $238 million and $207 million and variable lease cost of $120 million and $95 million for the years ended December 31, 2021 and 2020, respectively. millions 2021 2020 Operating cash flows $ 401 $ 506 Investing cash flows $ 73 $ 89 Financing cash flows $ 39 $ 29

DERIVATIVES

DERIVATIVES	12 Months Ended
DERIVATIVES	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	NOTE 8 - DERIVATIVES OBJECTIVE AND STRATEGY Occidental uses a variety of derivative financial instruments and physical contracts to manage its exposure to commodity price fluctuations, interest rate risks and transportation commitments and to fix margins on the future sale of stored commodity volumes. Occidental also enters into derivative financial instruments for trading purposes. Occidental may elect normal purchases and normal sales exclusions when physically delivered commodities are purchased or sold to a customer. Occidental occasionally applies cash flow hedge accounting treatment to derivative financial instruments to lock in margins on the forecasted sales of its natural gas storage volumes, and at times for other strategies, such as to lock in rates on debt issuances. Derivatives are carried at fair value and on a net basis when a legal right of offset exists with the same counterparty. See Note 1 - Summary of Significant Accounting Policies for Occidental’s accounting policy on derivatives. DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS As of December 31, 2021, Occidental’s derivatives not designated as hedges consist of interest rate swaps and marketing derivatives. Occidental’s previously outstanding Brent-priced call options and natural gas two-way collar derivative instruments expired on or before December 31, 2021. Derivative instruments that are not designated as hedging instruments are required to be recorded on the balance sheet at fair value. Changes in fair value will impact Occidental’s earnings through mark-to-market adjustments until the physical commodity is delivered or the financial instrument is settled. The fair value does not reflect the realized or cash value of the instrument. COLLARS AND OIL CALL OPTIONS In September 2020, Occidental entered into natural gas two-way collar derivative instruments for 2021 to manage its near-term exposure to cash flow variability from natural gas price risk. A two-way collar is a combination of two options: a sold call and a purchased put. The sold call establishes the ceiling price that Occidental will receive for the contracted commodity volume for a defined period of time. The purchased put establishes the floor price that Occidental will receive for the contracted volumes. Net gains and losses associated with puts and calls are recognized currently in net sales. Occidental did not have any puts or calls outstanding as of December 31, 2021. In 2021, Occidental paid $152 million to settle its gas puts and calls. In 2019, Occidental entered into 2020 Brent-priced 3-way collars combined with 2021 call options on the same volume to manage its near-term exposure to cash flow variability from oil price risks in 2020. The 2021 call options were sold to enhance the upside retention in 2020. In 2020, collars settled with the receipt of cash of $960 million. In 2021, Occidental paid $146 million to settle oil calls. INTEREST RATE SWAPS Occidental's interest rate swap contracts lock in a fixed interest rate in exchange for a floating interest rate indexed to the three-month LIBOR throughout the reference period. Net gains and losses associated with interest rate swaps are recognized currently in gains (losses) on interest rate swaps and warrants, net. Occidental had the following outstanding interest rate swaps outstanding as of December 31, 2021: millions except percentages Mandatory Weighted-Average Notional Principal Amount Reference Period Termination Date Interest Rate $ 275 September 2016 - 2046 September 2022 6.709 % $ 450 September 2017 - 2047 September 2023 6.445 % Depending on market conditions, liability management actions or other factors, Occidental may enter into offsetting interest rate swap positions as well as amend or settle certain or all of the currently outstanding interest rate swaps. Derivative settlements and collateralization are classified as cash flows from operating activities unless the derivatives contain an other-than-insignificant financing element, in which case the settlements and collateralization are classified as cash flows from financing activities. Net cash payments related to settlements were $885 million for the year ended December 31, 2021, which included $815 million paid to settle interest rate swaps with notional principal amounts of $400 million and $350 million and weighted average interest rates of 6.348% and 6.662%, respectively. For the year ended December 31, 2021, $51 million of collateral was returned. As of December 31, 2021, $323 million of collateral related to interest rate swaps had been netted against derivative liabilities. MARKETING DERIVATIVES Occidental’s marketing derivative instruments not designated as hedges are short-duration physical and financial forward contracts. Marketing derivative instruments do not include the put and call options discussed above. A substantial majority of Occidental’s physically settled derivative contracts are index-based and carry no mark-to-market valuation in earnings. As of December 31, 2021, the weighted-average settlement price of these forward contracts was $74.85/Bbl and $4.61/Mcf for crude oil and natural gas, respectively. The weighted-average settlement price was $46.05/Bbl and $2.58/Mcf for crude oil and natural gas, respectively, as of December 31, 2020. Net gains and losses associated with marketing derivative instruments not designated as hedging instruments are recognized currently in net sales. The following table summarizes net short volumes associated with the outstanding marketing commodity derivatives not designated as hedging instruments as of December 31: 2021 2020 Oil commodity contracts Volume (MMbbl) (28) (31) Natural gas commodity contracts Volume (Bcf) (136) (117) THE BERKSHIRE WARRANTS Warrants for 80 million shares of Occidental stock, with an initial exercise price of $62.50, were issued in connection with the financing of the Acquisition (the Berkshire Warrants). The Berkshire Warrants are exercisable at the holder’s option, in whole or in part, until the first anniversary of the date on which no shares of preferred stock remain outstanding, at which time the Berkshire Warrants expire. The holders of the Berkshire Warrants could have required net cash settlement if certain shareholder and regulatory approvals to issue shares of Occidental’s common stock underlying the Berkshire Warrants were not obtained. Prior to these approvals, the fair value of the Berkshire Warrants was remeasured each reporting date with gains and losses being recorded on the income statement. At Occidental’s May 29, 2020, annual shareholders meeting, all remaining approvals were obtained and the Berkshire Warrants can no longer be cash settled. Upon these approvals, the fair value of the Berkshire Warrants was remeasured on May 29, 2020, using the Black-Scholes option model. The reclassification from liabilities to “Additional paid-in capital” was $103 million. The following inputs were used in the Black-Scholes option model: the expected life of the Berkshire Warrants, a volatility factor and the exercise price. The expected life is based on the estimated term of the Berkshire Warrants, the volatility factor is based on historical volatilities of Occidental common stock and the initial exercise price of $62.50. The Berkshire Warrants contain an anti-dilution provision that adjusts the exercise price and the number of shares of Occidental’s common stock issuable on exercise upon the occurrence of certain distributions to common shareholders. On June 26, 2020, Occidental’s Board of Directors declared a distribution to its common shareholders of warrants to purchase additional shares of common stock, See Note 14 - Stockholders’ Equity . This distribution to common shareholders resulted in an anti-dilution adjustment to the Berkshire Warrants, which lowered its exercise price to $59.624 and increased the number of shares of Occidental’s common stock issuable on exercise of the Berkshire Warrants by approximately 3.9 million shares. DERIVATIVES DESIGNATED AS HEDGING INSTRUMENTS Net gains and losses attributable to derivative instruments subject to cash flow hedge accounting reside in accumulated other comprehensive loss and are reclassified to earnings as the transactions to which the derivatives relate, primarily interest expense on debt issued to partially finance the Acquisition, are recognized in earnings. The value of cash flow hedges was insignificant as of December 31, 2021 and 2020. FAIR VALUE OF DERIVATIVES Occidental has categorized its assets and liabilities that are measured at fair value in a three-level fair value hierarchy, based on the inputs to the valuation techniques: Level 1 – using quoted prices in active markets for the assets or liabilities; Level 2 – using observable inputs other than quoted prices for the assets or liabilities; and Level 3 – using unobservable inputs. Transfers between levels, if any, are reported at the end of each reporting period. The following table presents the fair values of Occidental’s outstanding derivatives. Fair values are presented at gross amounts below, including when derivatives are subject to netting arrangements, and are presented on a net basis in the Consolidated Balance Sheets. millions Fair Value Measurements Using Total Fair Value Balance Sheet Classification Level 1 Level 2 Level 3 Netting (a) December 31, 2021 Marketing Derivatives Other current assets $ 1,516 $ 173 $ — $ (1,645) $ 44 Long-term receivables and other assets, net 4 1 — (4) 1 Accrued liabilities (1,608) (196) — 1,645 (159) Deferred credits and other liabilities - other (4) — — 4 — Interest Rate Swaps Accrued liabilities — (315) — — (315) Deferred credits and other liabilities - other — (436) — — (436) December 31, 2020 Collars and Calls Other current assets $ — $ 25 $ — $ — $ 25 Deferred credits and other liabilities - other — (42) — — (42) Marketing Derivatives — Other current assets 1,155 80 — (1,204) 31 Long-term receivables and other assets, net 7 2 — (7) 2 Accrued liabilities (1,252) (81) — 1,204 (129) Deferred credits and other liabilities - other (7) — — 7 — Interest Rate Swaps — Accrued liabilities — (936) — — (936) Deferred credits and other liabilities - other — (822) — — (822) (a) These amounts do not include collateral. As of December 31, 2021, and December 31, 2020, $323 million and $374 million of collateral related to interest rate swaps had been netted against derivative liabilities, respectively. Occidental netted $110 million and $85 million of collateral deposited with brokers against derivative liabilities related to marketing derivatives as of December 31, 2021 and December 31, 2020, respectively. GAINS AND LOSSES ON DERIVATIVES The following table presents gains and (losses) related to Occidental’s derivative instruments in the consolidated condensed statements of operations for the years ended December 31: millions Income Statement Classification 2021 2020 2019 Collars and Calls Net sales $ (344) $ 1,064 $ (107) Marketing Derivatives Net sales (a) 338 (393) 1,804 Interest Rate Swaps (Excluding WES) Gains (losses) on interest rate swaps and warrants, net 122 (428) 122 Other (b) Gains on interest rate swaps and warrants, net — 5 111 (a) Includes derivative and non-derivative marketing activity. (b) Primarily includes losses and gains on Berkshire Warrants prior to the May 29, 2020 reclassification to equity. CREDIT RISK The majority of Occidental’s counterparty credit risk is related to the physical delivery of energy commodities to its customers and their inability to meet their settlement commitments. Occidental manages credit risk by selecting counterparties that it believes to be financially strong, by entering into netting arrangements with counterparties and by requiring collateral or other credit risk mitigants, as appropriate. Occidental actively evaluates the creditworthiness of its counterparties, assigns appropriate credit limits and monitors credit exposures against those assigned limits. Occidental also enters into futures contracts through regulated exchanges with select clearinghouses and brokers, which are subject to minimal credit risk, if any. Certain of Occidental’s OTC derivative instruments contain credit-risk-contingent features, primarily tied to credit ratings for Occidental or its counterparties, which may affect the amount of collateral that each party would need to post. The aggregate fair value of derivative instruments with credit-risk-contingent features for which a net liability position existed as of December 31, 2021 was $107 million (net of $323 million collateral), which was primarily related to interest rate swaps. The aggregate fair value of derivative instruments with credit-risk-contingent features for which a net liability position existed as of December 31, 2020 was $104 million (net of $374 million of collateral), which was primarily related to interest rate swaps.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
FAIR VALUE MEASUREMENTS	Dec. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 9 - FAIR VALUE MEASUREMENTS FAIR VALUES – RECURRING In January 2012, Occidental entered into a long-term contract to purchase CO 2 . This contract contained a price adjustment clause that was not clearly and closely related to the host contract and Occidental accounted for it at fair value in the consolidated financial statements. In December 2021, the price adjustment clause related to the contract expired and no longer is recognized at fair value. FAIR VALUES – NONRECURRING 2021: For the year ended December 31, 2021, Occidental recorded pre-tax impairments of $276 million related to undeveloped leases that either expired or were set to expire in the near-term, where Occidental had no plans to pursue exploration activities. 2020: The table below summarizes the significant impairments and other charges incurred to measure assets to their fair value on a nonrecurring basis throughout the year ended December 31, 2020: millions Total Fair Value Asset impairments and other charges Goodwill $ 1,153 Oil and gas properties - proved $ 2,436 Oil and gas properties - unproved $ 4,591 Oil and gas properties - discontinued operations $ 2,191 WES equity investment $ 2,673 GOODWILL In the first quarter of 2020, Occidental impaired $1.2 billion in goodwill related to Occidental’s ownership in WES, which was previously included in long-term receivables and other assets, net. The market value of WES’ publicly traded units is considered a Level 1 input. OIL AND GAS PROPERTIES In the second quarter of 2020, as a result of the expected prolonged period of lower commodity prices brought on by the COVID-19 pandemic’s impact on oil demand, Occidental tested substantially all of its oil and gas assets for impairment. Occidental recognized total pre-tax impairments to its oil and gas proved and unproved properties of $8.6 billion, of which $6.4 billion was included in oil and gas segment results and $2.2 billion ($1.4 billion net of tax) related to Ghana was included in discontinued operations. In the second quarter of 2020, Occidental recorded proved property pre-tax impairments of $1.2 billion primarily related to certain assets for its domestic onshore and Gulf of Mexico assets and $0.9 billion to adjust the Algeria oil and gas proved properties to their fair value. The fair value of the proved properties was measured based on the income approach. Unproved property pre-tax impairments of $4.3 billion were primarily related to domestic onshore unproved acreage. The fair value of this acreage was measured based on a market approach using an implied acreage valuation derived from domestic onshore market participants excluding the fair value assigned to proved properties. Income approaches are considered Level 3 fair value estimates and include significant assumptions of future production and timing of production, commodity price assumptions and operating and capital cost estimates, discounted using a 10 percent weighted average cost of capital. Taxes were based on current statutory rates. Future production and timing of production is based on internal reserves estimates and internal economic models for a specific oil and gas asset. Internal reserve estimates consist of proved reserves and unproved reserves, the latter adjusted for uncertainty based on reserve category. Price assumptions were based on a combination of market information and published industry resources adjusted for historical differentials. Price assumptions ranged from approximately $40 per barrel of oil in 2020 increasing to approximately $70 per barrel of oil in 2034, with an unweighted arithmetic average price of $59.17 and $62.42 for WTI and Brent indexed assets for the 15 year period, respectively. Natural gas prices ranged from approximately $2.00 per Mcf in 2020 to approximately $3.60 per Mcf in 2034, with an unweighted arithmetic average price of $3.13 for NYMEX based assets for the 15 year period. Both oil and natural gas commodity prices were held flat after 2034 and were adjusted for location and quality differentials. Operating and capital cost estimates were based on current observable costs and were further escalated 1 percent in every period where commodity prices exceeded $50 per barrel and 2 percent in every period where commodity prices exceeded $60 per barrel. The weighted average cost of capital is calculated based on industry peers and best approximates the cost of capital an external market participant would expect to obtain. In the first quarter of 2020, Occidental's oil and gas segment recognized pre-tax impairment and related charges of $581 million primarily related to both proved and unproved oil and gas properties and a lower of cost or net realizable value adjustment for crude inventory. Occidental recorded proved property impairments of $293 million related to certain international assets and the Gulf of Mexico. Occidental recorded unproved property impairments, of approximately $241 million, primarily related to domestic onshore undeveloped leases and offshore Gulf of Mexico where Occidental no longer intends to pursue exploration, appraisal or development activities primarily due to the reduction in near-term capital plans. If there is an adverse downturn of the macroeconomic conditions and if such downturn is expected to or does persist for a prolonged period of time, Occidental’s oil and gas properties may be subject to further testing for impairment, which could result in additional non-cash asset impairments. Such impairments could be material to the financial statements. WES EQUITY INVESTMENT At the end of the third quarter of 2020, Occidental recorded an other-than-temporary impairment of $2.7 billion, as the fair value of Occidental’s investment in WES had remained significantly lower than its book value for the majority of the nine months ended September 30, 2020. Occidental concluded that the difference between the fair value and book value of WES was not temporary, primarily given both the magnitude and the duration that the fair value was below its book value. This other-than-temporary impairment was calculated based on the closing market price of WES as of September 30, 2020. The market value of WES’ publicly traded common units is considered a Level 1 input. FINANCIAL INSTRUMENTS FAIR VALUE The carrying amounts of cash, cash equivalents, restricted cash, restricted cash equivalents and other on-balance sheet financial instruments, other than fixed-rate debt, approximate fair value. See Note 6 - Long-Term Debt for the fair value of long-term debt.

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 10 - INCOME TAXES The following summarizes domestic and foreign components of income (loss) from continuing operations before domestic and foreign income taxes for the years ended December 31: millions 2021 2020 2019 Domestic $ 1,966 $ (15,322) $ (1,632) Foreign 1,739 (383) 1,986 Total $ 3,705 $ (15,705) $ 354 The following summarizes components of income tax expense (benefit) on continuing operations for the years ended December 31: millions 2021 2020 2019 Current Federal $ 173 $ (126) $ 33 State and Local 36 6 46 Foreign 660 465 1,809 Total current tax expense $ 869 $ 345 $ 1,888 Deferred Federal 191 (2,384) (130) State and Local (153) (103) 17 Foreign 8 (30) (914) Total deferred tax expense (benefit) $ 46 $ (2,517) $ (1,027) Total income tax expense (benefit) $ 915 $ (2,172) $ 861 The following reconciliation of the U.S federal statutory income tax rate to Occidental’s worldwide effective tax rate on income from continuing operations for the years ended December 31 is stated as a percentage of income (loss) from continuing operations before income taxes: 2021 2020 2019 U.S. federal statutory tax rate 21 % 21 % 21 % Enhanced oil recovery credit and other general business credits (3) — (2) Goodwill impairment — (3) — Capital loss (2) — — Tax impact from foreign operations 8 (4) 135 State income taxes, net of federal benefit (2) — 14 Uncertain tax positions — — 7 Transaction costs — — 10 Non-controlling interest — — (8) Executive compensation limitation 1 — 12 Stock warrants — — (5) WES loss of control — — 58 Other 2 — 1 Worldwide effective tax rate 25 % 14 % 243 % In 2021, Occidental’s worldwide effective tax rate was 25%, which was higher than the U.S. statutory rate of 21% due to higher tax rates in the foreign jurisdictions in which Occidental operates, partially offset by the tax impact of business credits, state tax revaluations and other domestic tax benefits. In 2020, Occidental’s worldwide effective tax rate was 14%, which was largely a result of the impairment of the WES goodwill and certain international assets for which Occidental received no tax benefit and higher-taxed international operations which generally caused Occidental’s tax rate to vary significantly from the U.S. corporate tax rate. The tax effects of temporary differences resulting in deferred income taxes as of December 31: millions 2021 2020 Deferred tax liabilities Property, plant and equipment differences $ (9,905) $ (10,744) Equity investments, partnerships and international subsidiaries (571) (658) Gross long-term deferred tax liabilities (10,476) (11,402) Deferred tax assets Environmental reserves 242 257 Postretirement benefit accruals 285 398 Deferred compensation and benefits 286 186 Asset retirement obligations 850 942 Foreign tax credit carryforwards 3,904 4,465 General business credit carryforwards 698 607 Net operating loss carryforward 1,628 1,797 Interest expense carryforward 28 668 All other 689 720 Gross long-term deferred tax assets 8,610 10,040 Valuation allowance (5,136) (5,695) Net long-term deferred tax assets $ 3,474 $ 4,345 Total deferred income tax liability, net $ (7,002) $ (7,057) Less: foreign deferred tax asset in long-term receivables and other assets, net (37) (56) Total deferred income tax liability, gross $ (7,039) $ (7,113) Total deferred tax assets, after valuation allowances, were $3.5 billion and $4.3 billion as of December 31, 2021, and 2020, respectively. Occidental expects to realize the recorded deferred tax assets, net of any allowances, through future operating income and reversal of temporary differences. The total deferred tax liabilities were $10.5 billion and $11.4 billion as of December 31, 2021 and 2020, respectively. The decrease in the net deferred tax liability in 2021 compared to 2020 was primarily driven by the impact of lower capital spending and domestic asset impairments for which Occidental does not receive an immediate tax benefit, partially offset by the utilization of net operating losses and other tax attributes. As of December 31, 2021, Occidental had foreign tax credit carryforwards of $3.9 billion, federal general business credits carryforwards of $659 million and state tax credit carryforwards of $39 million. Occidental has recorded a valuation allowance for $3.9 billion of the foreign tax credit carryforwards and $34 million of the state tax credit carryforwards. As of December 31, 2021, Occidental had tax-effected federal net operating loss carryforwards of $511 million, foreign net operating loss carryforwards of $833 million and state net operating loss carryforwards of $284 million. The carryforward balances have varying carryforward periods through 2041, excluding certain attributes for which there is an indefinite carryforward period. A valuation allowance was recorded for $244 million of the tax-effected state net operating loss carryforwards and $797 million of the tax-effected foreign net operating loss carryforwards. Occidental has an additional valuation allowance of $145 million against other foreign deferred tax assets. Occidental had no tax-effected federal interest expense carryforward and tax-effected state interest expense carryforward of $28 million as of December 31, 2021. Occidental recorded a valuation allowance for $9 million of the state interest expense carryforward. A deferred tax liability has not been recognized for temporary differences related to unremitted earnings of certain consolidated international subsidiaries aggregating approximately $916 million as of December 31, 2021, as it is Occidental’s intention to reinvest such earnings indefinitely. If the earnings of these international subsidiaries were not indefinitely reinvested, an additional deferred tax liability of approximately $219 million would be required. As a result of a legal entity reorganization, management will make an adjustment to the tax basis in a portion of its operating assets, thus reducing Occidental’s deferred tax liabilities. Accordingly, in the first quarter of 2022, Occidental will record a one-time non-cash tax benefit that is currently estimated not to exceed $2.6 billion, in connection with this reorganization. The timing of any reduction in Occidental’s future cash taxes as a result of this legal entity reorganization will be dependent on a number of factors, including prevailing commodity prices, capital activity level and production mix. Occidental will complete its review of its tax basis calculations, fair value assessments and other information and will finalize the adjustment to its deferred tax liabilities during the first quarter of 2022. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: millions 2021 2020 2019 Balance as of January 1 $ 2,045 $ 2,173 $ — Increase related to Anadarko Acquisition — — 2,143 Increases related to prior-year positions 75 14 30 Settlements (80) (42) — Reductions for tax positions of prior years (14) (100) — Balance as of December 31 $ 2,026 $ 2,045 $ 2,173 The December 31, 2021 balance of unrecognized tax benefits of $2.0 billion included potential benefits of $2.0 billion of which, if recognized, $1.6 billion would affect the effective tax rate on income. Also included were benefits of $60 million related to tax positions for which the ultimate deductibility is highly certain, but the timing of such deductibility is uncertain. Occidental records estimated potential interest and penalties related to liabilities for unrecognized tax benefits in the provisions for domestic and foreign income taxes. During 2021, Occidental recorded interest related to liabilities for unrecognized tax benefits of $58 million, for a cumulative accrued interest related to liabilities for unrecognized tax benefits of $321 million as of December 31, 2021. There were no penalties associated with liabilities for unrecognized tax benefits recorded for the years ended December 31, 2021 and 2020. Over the next 12 months, it is reasonably possible that there will not be a decrease in the total amount of unrecognized tax benefits resulting from settlements with taxing authorities or statute of limitations lapses. Occidental recognized $105 million and $110 million in federal and state income tax receivables as of December 31, 2021, and 2020, respectively, which was recorded in other current assets. In addition, Occidental recognized $33 million and $24 million associated with audits as of December 31, 2021 and 2020, respectively, both of which were recorded in long-term receivables and other assets, net. Occidental is subject to audit by various tax authorities in varying periods. See Note 13 - Lawsuits, Claims, Commitments and Contingencies for a discussion of these matters.

RETIREMENT AND POSTRETIREMENT B

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS	12 Months Ended
RETIREMENT AND POSTRETIREMENT BENEFIT PLANS	Dec. 31, 2021
Retirement Benefits [Abstract]
RETIREMENT AND POSTRETIREMENT BENEFIT PLANS	NOTE 11 - RETIREMENT AND POSTRETIREMENT BENEFIT PLANS Occidental has various defined contribution and defined benefit plans for its salaried, domestic union and nonunion hourly and certain foreign national employees. In addition, Occidental also provides medical and other benefits for certain active, retired and disabled employees and their eligible dependents. Effective as of June 30, 2020 the defined benefit pension plans and certain of the supplemental plans covering active Anadarko employees were frozen. This resulted in a decrease to the benefit obligation of approximately $278 million, including a curtailment gain of approximately $124 million and a corresponding offset to accumulated OCI of approximately $154 million. In 2021, Occidental settled a significant portion of retiree liability through an annuity purchase. This annuity purchase applied to participants in certain defined benefit plans. The impact of this settlement transaction was approximately $109 million and is reflected in the December 31, 2021 projected benefit obligation. DEFINED CONTRIBUTION PLANS All domestic employees and certain foreign national employees are eligible to participate in one or more of the defined contribution retirement or savings plans that provide for periodic contributions by Occidental based on plan-specific criteria, such as base pay, level and employee contributions. Certain salaried employees participate in a supplemental retirement plan that restores benefits lost due to governmental limitations on qualified retirement benefits. The accrued liabilities for the supplemental retirement plan were $249 million and $239 million as of December 31, 2021, and 2020, respectively. Occidental expensed $166 million in 2021, $192 million in 2020 and $192 million in 2019 under the provisions of these defined contribution and supplemental retirement plans. DEFINED BENEFIT PLANS Participation in defined benefit plans is limited. Approximately 400 domestic and 300 foreign national employees, mainly union, nonunion hourly and certain employees that joined Occidental from acquired operations with grandfathered benefits, are currently accruing benefits under these plans. Pension costs for Occidental’s defined benefit pension plans, determined by independent actuarial valuations, are generally funded by payments to trust funds, which are administered by independent trustees. POSTRETIREMENT AND OTHER BENEFIT PLANS Occidental provides medical and dental benefits and life insurance coverage for certain active, retired and disabled employees and their eligible dependents. Occidental generally funds the benefits as they are paid during the year. These benefit costs, including the postretirement costs for the years ended December 31, were $211 million in 2021, $235 million in 2020 and $220 million in 2019. OBLIGATIONS AND FUNDED STATUS The following tables show the amounts recognized in Occidental’s consolidated balance sheets related to its pension and postretirement benefit plans as of December 31: Pension Benefits Postretirement Benefits millions 2021 2020 2021 2020 Amounts recognized in the consolidated balance sheet: Long-term receivables and other assets, net $ 192 $ 167 $ — $ — Accrued liabilities (4) (9) (71) (74) Deferred credits and other liabilities — pension and postretirement obligations (391) (578) (1,149) (1,185) $ (203) $ (420) $ (1,220) $ (1,259) Accumulated other comprehensive loss included the following after-tax balances: Net (gain) loss $ (17) $ (3) $ 163 $ 226 Prior service credit — — (50) (60) $ (17) $ (3) $ 113 $ 166 The following tables show the funding status, obligations and plan asset fair values of Occidental related to its pension and postretirement benefit plans for the years ended December 31: Pension Benefits Postretirement Benefits millions 2021 2020 2021 2020 Changes in the benefit obligation: Benefit obligation — beginning of year $ 1,613 $ 2,508 $ 1,259 $ 1,175 Service cost — benefits earned during the period 8 37 42 39 Interest cost on projected benefit obligation 35 52 33 37 Actuarial (gain) loss (55) 251 (54) 73 Curtailment (gain) loss — (278) — 2 Special termination benefits — 23 — — Benefits paid (219) (948) (67) (73) Sale of Colombia assets — (24) — — Settlement due to annuity purchase (109) — — — Other — (8) 7 6 Benefit obligation — end of year $ 1,273 $ 1,613 $ 1,220 $ 1,259 Changes in plan assets: Fair value of plan assets — beginning of year $ 1,193 $ 1,841 $ — $ — Actual return on plan assets 44 161 — — Employer contributions 162 146 59 67 Benefits paid (219) (948) (67) (73) Payments due to annuity purchase (109) — — — Other (1) (7) 8 6 Fair value of plan assets — end of year $ 1,070 $ 1,193 $ — $ — Unfunded status: $ (203) $ (420) $ (1,220) $ (1,259) Changes in actuarial gains and losses in the projected benefit obligation are primarily driven by discount rate movement. The following table sets forth details of the obligations and assets of Occidental’s defined benefit pension plans for the years ended December 31: Accumulated Benefit Plan Assets in millions 2021 2020 2021 2020 Projected benefit obligation $ 963 $ 1,226 $ 310 $ 387 Accumulated benefit obligation $ 960 $ 1,221 $ 308 $ 379 Fair value of plan assets $ 656 $ 670 $ 414 $ 523 COMPONENTS OF NET PERIODIC BENEFIT COST The following table sets forth the components of net periodic benefit costs for the years ended December 31: Pension Benefits Postretirement Benefits millions 2021 2020 2019 2021 2020 2019 Net periodic benefit costs: Service cost — benefits earned during the period $ 8 $ 37 $ 47 $ 42 $ 39 $ 24 Interest cost on projected benefit obligation 35 52 40 33 37 36 Expected return on plan assets (59) (73) (52) — — — Recognized actuarial loss 2 5 9 15 11 8 Recognized prior service credit — — — (9) (8) (8) (Gain) loss due to curtailment — (124) (91) — 2 6 Gain due to settlement (19) (19) — — — — Special termination benefits — 22 49 — — — Other costs and adjustments — 1 (2) — — — Net periodic benefit cost $ (33) $ (99) $ — $ 81 $ 81 $ 66 The service cost component of net periodic benefit cost is included in selling, general and administrative, oil and gas operating expense, chemical and midstream costs and exploration expense on Occidental’s Consolidated Statements of Operations. All other components of net periodic benefit cost are included in other operating and non-operating expense. ADDITIONAL INFORMATION The following table sets forth the weighted-average assumptions used to determine Occidental’s benefit obligation and net periodic benefit cost for domestic plans for the years ended December 31: Pension Benefits Postretirement Benefits 2021 2020 2021 2020 Benefit Obligation Assumptions: Discount rate 2.67 % 2.19 % 2.94 % 3.05 % Rate of increase in compensation levels 3.98 % 5.07 % — — Net Periodic Benefit Cost Assumptions: Discount rate 2.19 % 3.04 % 3.05 % 3.26 % Rate of increase in compensation levels 5.07 % 5.34 % — — Assumed long-term rate of return on assets 4.92 % 6.02 % — — For domestic pension plans and postretirement benefit plans, Occidental based the discount rate on a AA-AAA Universe yield curve in 2021 and 2020. The assumed long-term rate of return on assets is estimated with regard to current market factors but within the context of historical returns for the asset mix that exists at year end. Assumed rates of compensation increases for active participants in certain plans and vary by age group. In 2020, Occidental adopted the Society of Actuaries Pri-2012 Private Retirement Plans Mortality Tables with MP-2020 Mortality Improvement Scale, which updated the mortality assumptions that private defined-benefit plans in the United States use in the actuarial valuations that determine a plan sponsor’s pension obligations. The new mortality assumption reflects additional data that the Social Security Administration has released since the previous mortality tables and improvement scales were released. The postretirement benefit obligation was determined by application of the terms of medical and dental benefits and life insurance coverage, including the effect of established maximums on covered costs, together with relevant actuarial assumptions and health care cost trend rates. Health care cost trend rates for Medicare advantaged prescription drug (MAPD) plans of 9.6% starting in 2021, then grading down to 4.5% in 2028 and beyond. Health care cost trend rates used for non-MAPD plans are 6.3% to 6.8% in 2021, then grading down to 4.5% in 2028 and beyond. The actuarial assumptions used could change in the near-term as a result of changes in expected future trends and other factors that, depending on the nature of the changes, could cause increases or decreases in the plan assets and liabilities. FAIR VALUE OF PENSION PLAN ASSETS Qualified defined benefit plan assets are monitored by Occidental’s Pension and Retirement Trust and Investment Committee in its role as a fiduciary. The Investment Committee selects and employs various external professional investment management firms to manage specific investments across the spectrum of asset classes. The Investment Committee employs a liability driven investment approach that uses a diversified blend of investments (equity securities, fixed-income securities, and alternative investments) along a glide path to optimize the long-term return of plan assets relative to plan liabilities, at a prudent level of risk. Equity investments are diversified across U.S. and non-U.S. stocks, as well as differing styles and market capitalizations. Investment performance is measured and monitored on an ongoing basis through quarterly investment portfolio and manager guideline compliance reviews, annual liability measurements and periodic studies. The fair values of Occidental’s pension plan assets by asset category were as follows: millions Level 1 Level 2 Level 3 Total December 31, 2021 Asset Class: Cash and cash equivalents $ 19 $ — $ — $ 19 Government securities 63 — — 63 Corporate bonds (a) — 36 — 36 Equity securities (b) 46 — — 46 Other — 76 — 76 Investments measured at fair value $ 128 $ 112 $ — $ 240 Investments measured at net asset value (c) — — — 836 Total pension plan assets (d) $ 128 $ 112 $ — $ 1,076 December 31, 2020 Asset Class: Cash and cash equivalents $ 38 $ — $ — $ 38 Government securities 65 — — 65 Corporate bonds (a) — 39 — 39 Equity securities (b) 138 — — 138 Other — 55 — 55 Investments measured at fair value $ 241 $ 94 $ — $ 335 Investments measured at net asset value (c) — — — 861 Total pension plan assets (d) $ 241 $ 94 $ — $ 1,196 (a) This category represents investment grade bonds of U.S. and non-U.S. issuers from diverse industries. (b) This category represents direct investments in mutual funds and common and preferred stocks from diverse U.S. and non-U.S. industries. (c) Certain investments measured at fair value using the NAV per share (or its equivalent) have not been categorized in the fair value hierarchy. Amounts presented in this table are intended to reconcile the fair value hierarchy to the pension plan assets. (d) Amounts exclude net payables of approximately $6 million as of December 31, 2021 and $3 million as of December 31, 2020. Occidental expects to contribute an immaterial amount in cash to its defined benefit pensions plans during 2022. Estimated future benefit payments, which reflect expected future service, as appropriate, are as follows for the years ended December 31: millions Pension Benefits Postretirement Benefits 2022 $ 130 $ 72 2023 73 70 2024 77 68 2025 71 66 2026 68 64 2027 - 2031 318 306

ENVIRONMENTAL LIABILITIES AND E

ENVIRONMENTAL LIABILITIES AND EXPENDITURES	12 Months Ended
ENVIRONMENTAL LIABILITIES AND EXPENDITURES	Dec. 31, 2021
Environmental Remediation Obligations [Abstract]
ENVIRONMENTAL LIABILITIES AND EXPENDITURES	NOTE 12 - ENVIRONMENTAL LIABILITIES AND EXPENDITURES Occidental’s operations are subject to stringent federal, state, local and international laws and regulations related to improving or maintaining environmental quality. The laws that require or address environmental remediation, including CERCLA and similar federal, state, local and international laws, may apply retroactively and regardless of fault, the legality of the original activities or the current ownership or control of sites. Occidental or certain of its subsidiaries participate in or actively monitor a range of remedial activities and government or private proceedings under these laws with respect to alleged past practices at operating, closed and third-party sites. Remedial activities may include one or more of the following: investigation involving sampling, modeling, risk assessment or monitoring; cleanup measures including removal, treatment or disposal; or operation and maintenance of remedial systems. The environmental proceedings seek funding or performance of remediation and, in some cases, compensation for alleged property damage, punitive damages, civil penalties, injunctive relief and government oversight costs. ENVIRONMENTAL REMEDIATION As of December 31, 2021, Occidental participated in or monitored remedial activities or proceedings at 165 sites. The following table presents Occidental’s current and non-current environmental remediation liabilities as of December 31, 2021 and 2020, the current portion of which is included in accrued liabilities ($155 million in 2021 and $123 million in 2020) and the remainder in deferred credits and other liabilities - environmental remediation liabilities ($0.9 billion in 2021 and $1.0 billion in 2020). Occidental’s environmental remediation sites are grouped into four categories: NPL sites listed or proposed for listing by the EPA on the CERCLA NPL and three categories of non-NPL sites — third-party sites, Occidental-operated sites and closed or non-operated Occidental sites. 2021 2020 millions, except number of sites Number of Sites Remediation Balance Number of Sites Remediation Balance NPL sites 30 $ 427 35 $ 447 Third-party sites 69 273 69 293 Occidental-operated sites 15 122 17 144 Closed or non-operated Occidental sites 51 277 49 267 Total 165 $ 1,099 170 $ 1,151 As of December 31, 2021, Occidental’s environmental liabilities exceeded $10 million each at 20 of the 165 sites described above, and 96 of the sites had liabilities from $0 to $1 million each. As of December 31, 2021, two sites — the Maxus-indemnified Diamond Alkali Superfund Site and a landfill in Western New York — accounted for 96% of its liabilities associated with NPL sites. 14 of the 30 NPL sites are indemnified by Maxus. Five of the 69 third-party sites — a Maxus-indemnified chrome site in New Jersey, a former copper mining and smelting operation in Tennessee, a former oil field and a landfill in California and an active refinery in Louisiana where Occidental reimburses the current owner for certain remediation activities — accounted for 75% of Occidental’s liabilities associated with these sites. Nine of the 69 third-party sites are indemnified by Maxus. Four sites — oil and gas operations in Colorado and chemical plants in Kansas, Louisiana and Texas — accounted for 69% of the liabilities associated with the Occidental-operated sites. Ten other sites — a landfill in Western New York, a former refinery in Oklahoma, former chemical plants in California, Delaware, Michigan, New York, Ohio, Tennessee and Washington, and a closed coal mine in Pennsylvania — accounted for 75% of the liabilities associated with closed or non-operated Occidental sites. Environmental remediation liabilities vary over time depending on factors such as acquisitions or divestitures, identification of additional sites and remedy selection and implementation. Occidental recorded environmental remediation expenses of $28 million, $36 million and $112 million for the years ended December 31, 2021, 2020, and 2019, respectively. Environmental remediation expenses primarily relate to changes to existing conditions from past operations. Based on current estimates, Occidental expects to expend funds corresponding to approximately 40% of the year-end remediation balance over the next three MAXUS ENVIRONMENTAL SITES When Occidental acquired DSCC in 1986, Maxus agreed to indemnify Occidental for a number of environmental sites, including the Diamond Alkali Superfund Site (Site) along a portion of the Passaic River. On June 17, 2016, Maxus and several affiliated companies filed for Chapter 11 bankruptcy in Federal District Court in the State of Delaware. Prior to filing for bankruptcy, Maxus defended and indemnified Occidental in connection with clean-up and other costs associated with the sites subject to the indemnity, including the Site. In March 2016, the EPA issued a ROD specifying remedial actions required for the lower 8.3 miles of the Lower Passaic River. The ROD does not address any potential remedial action for the upper nine miles of the Lower Passaic River or Newark Bay. During the third quarter of 2016, and following Maxus’s bankruptcy filing, Occidental and the EPA entered into an AOC to complete the design of the proposed clean-up plan outlined in the ROD with an estimated cost of $165 million. The EPA announced that it will pursue similar agreements with other potentially responsible parties. Occidental has accrued a reserve relating to its estimated allocable share of the costs to perform the design and remediation called for in the AOC and the ROD, as well as for certain other Maxus-indemnified sites. Occidental's accrued estimated environmental reserve does not consider any recoveries for indemnified costs. Occidental’s ultimate share of this liability may be higher or lower than the reserved amount and is subject to final design plans and the resolution of Occidental's allocable share with other potentially responsible parties. Occidental continues to evaluate the costs to be incurred to comply with the AOC and the ROD and to perform remediation at other Maxus-indemnified sites in light of the Maxus bankruptcy and the share of ultimate liability of other potentially responsible parties. In June 2018, Occidental filed a complaint under CERCLA in Federal District Court in the State of New Jersey against numerous potentially responsible parties for reimbursement of amounts incurred or to be incurred to comply with the AOC and the ROD, or to perform other remediation activities at the Site. In September 2021, the EPA issued a ROD with an estimated cost of $441 million for an interim remedy plan for the upper nine miles of the Lower Passaic River. At this time, Occidental’s role or responsibilities under this ROD, and those of other potentially responsible parties, have not been determined with the EPA. Discussions between Occidental and the EPA are ongoing about this ROD. In June 2017, the court overseeing the Maxus bankruptcy approved a Plan to liquidate Maxus and create a trust to pursue claims against current and former parents YPF and Repsol, as well as others to satisfy claims by Occidental and other creditors for past and future cleanup and other costs. In July 2017, the court-approved Plan became final and the trust became effective. The trust is pursuing claims against YPF, Repsol and others and is expected to distribute assets to Maxus' creditors in accordance with the trust agreement and Plan. In June 2018, the trust filed its complaint against YPF and Repsol in Delaware bankruptcy court asserting claims based upon, among other things, fraudulent transfer and alter ego. During 2019, the bankruptcy court denied Repsol's and YPF's motions to dismiss the complaint as well as their motions to move the case away from the bankruptcy court. Discovery remains ongoing.

LAWSUITS, CLAIMS, COMMITMENTS A

LAWSUITS, CLAIMS, COMMITMENTS AND CONTINGENCIES	12 Months Ended
LAWSUITS, CLAIMS, COMMITMENTS AND CONTINGENCIES	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
LAWSUITS, CLAIMS, COMMITMENTS AND CONTINGENCIES	NOTE 13 - LAWSUITS, CLAIMS, COMMITMENTS AND CONTINGENCIES LEGAL MATTERS Occidental or certain of its subsidiaries are involved, in the normal course of business, in lawsuits, claims and other legal proceedings that seek, among other things, compensation for alleged personal injury, breach of contract, property damage or other losses, punitive damages, civil penalties, or injunctive or declaratory relief. Occidental or certain of its subsidiaries also are involved in proceedings under CERCLA and similar federal, state, local and international environmental laws. These environmental proceedings seek funding or performance of remediation and, in some cases, compensation for alleged property damage, punitive damages, civil penalties and injunctive relief. Usually Occidental or such subsidiaries are among many companies in these environmental proceedings and have to date been successful in sharing response costs with other financially sound companies. Further, some lawsuits, claims and legal proceedings involve acquired or disposed assets with respect to which a third party or Occidental retains liability or indemnifies the other party for conditions that existed prior to the transaction. In accordance with applicable accounting guidance, Occidental accrues reserves for outstanding lawsuits, claims and proceedings when it is probable that a liability has been incurred and the liability can be reasonably estimated. Reserves for matters, other than for environmental remediation and the arbitration award disclosed below, that satisfy this criteria as of December 31, 2021 and 2020, were not material to Occidental’s Consolidated Balance Sheets. In 2016, Occidental received payments from the Republic of Ecuador of approximately $1.0 billion pursuant to a November 2015 arbitration award for Ecuador’s 2006 expropriation of Occidental’s Participation Contract for Block 15. The awarded amount represented a recovery of 60% of the value of Block 15. In 2017, Andes filed a demand for arbitration, claiming it is entitled to a 40% share of the judgment amount obtained by Occidental. Occidental contends that Andes is not entitled to any of the amounts paid under the 2015 arbitration award because Occidental’s recovery was limited to Occidental’s own 60% economic interest in the block. On March 26, 2021, the arbitration tribunal issued an award in favor of Andes and against OEPC in the amount of $391 million plus interest. In June 2021, OEPC filed a motion to vacate the award due to concerns regarding the validity of the award. In addition, OEPC has made a demand for significant additional claims not addressed by the arbitration tribunal that OEPC has against Andes relating to Andes' 40% share of costs, liabilities, losses and expenses due under the farmout agreement and joint operating agreement to which Andes and OEPC are parties. In December 2021, the U.S. District Court Southern District of New York confirmed the arbitration award, plus prejudgment interest, in the aggregate amount of $558 million. OEPC has appealed the judgement. In August 2019, Sanchez filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code. Sanchez is a party to agreements with Anadarko as a result of its 2017 purchase of Anadarko's Eagle Ford Shale assets. Sanchez attempted to reject some of the agreements related to the Bankruptcy Litigation. If Sanchez was permitted to reject certain of those agreements, then Anadarko may owe deficiency payments to various third parties. In December 2021, Occidental and certain of its affiliates entered into an agreement to resolve the Bankruptcy Litigation. Occidental recorded a contingency reserve as of September 30, 2021, associated with the settlement. If unfavorable outcomes of these matters were to occur, future results of operations or cash flows for any particular quarterly or annual period could be materially adversely affected. Occidental’s estimates are based on information known about the legal matters and its experience in contesting, litigating and settling similar matters. Occidental reassesses the probability and estimability of contingent losses as new information becomes available. TAX MATTERS During the course of its operations, Occidental is subject to audit by tax authorities for varying periods in various federal, state, local and international tax jurisdictions. Tax years through 2017 for U.S. federal income tax purposes have been audited by the IRS pursuant to its Compliance Assurance Program and subsequent taxable years are currently under review. Tax years through 2012 have been audited for state income tax purposes. Significant audit matters in international jurisdictions have been resolved through 2010. During the course of tax audits, disputes have arisen and other disputes may arise as to facts and matters of law. For Anadarko, its taxable years through 2014 and tax year 2016 for U.S. federal tax purposes have been audited by the IRS. Tax years through 2008 have been audited for state income tax purposes. There is one outstanding significant tax matter in an international jurisdiction related to a discontinued operation. As stated above, during the course of tax audits, disputes have arisen and other disputes may arise as to facts and matters of law. Other than the matter discussed below, Occidental believes that the resolution of these outstanding tax matters would not have a material adverse effect on its consolidated financial position or results of operations. Anadarko received an $881 million tentative refund in 2016 related to its $5.2 billion Tronox Adversary Proceeding settlement payment in 2015. In September 2018, Anadarko received a statutory notice of deficiency from the IRS disallowing the net operating loss carryback and rejecting Anadarko’s refund claim. As a result, Anadarko filed a petition with the U.S. Tax Court to dispute the disallowances in November 2018. The case was in the IRS appeals process until the second quarter of 2020, however it has since been returned to the U.S. Tax Court, where a trial date has been set for July 2022 and Occidental expects to continue pursuing resolution. In accordance with ASC 740’s guidance on the accounting for uncertain tax positions, Occidental has recorded no tax benefit on the tentative cash tax refund of $881 million. As a result, should Occidental not ultimately prevail on the issue, there would be no additional tax expense recorded relative to this position for financial statement purposes other than future interest. However, in that event, Occidental would be required to repay approximately $1 billion in federal taxes, $27 million in state taxes and accrued interest of $314 million. A liability for this amount plus interest is included in deferred credits and other liabilities-other. INDEMNITIES TO THIRD PARTIES Occidental, its subsidiaries, or both, have indemnified various parties against specified liabilities those parties might incur in the future in connection with purchases and other transactions that they have entered into with Occidental. These indemnities usually are contingent upon the other party incurring liabilities that reach specified thresholds. As of December 31, 2021, Occidental is not aware of circumstances that it believes would reasonably be expected to lead to indemnity claims that would result in payments materially in excess of reserves. PURCHASE OBLIGATIONS AND COMMITMENTS Occidental, its subsidiaries, or both, have entered into agreements providing for future payments, primarily to secure terminal and pipeline capacity, and also for drilling rigs and services, electrical power, steam and certain chemical raw

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
STOCKHOLDERS' EQUITY	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	NOTE 14 - STOCKHOLDERS’ EQUITY The following is a summary of common stock issuances: Shares in thousands Common Stock Balance, December 31, 2018 895,116 Issued 3,188 Issued as part of the Acquisition (a) 146,131 Balance, December 31, 2019 1,044,435 Issued 36,130 Balance, December 31, 2020 1,080,565 Issued 2,522 Options exercised and other, net 336 Balance, December 31, 2021 1,083,423 (a) Included approximately two million shares of common stock issued to a benefits trust for former Anadarko employees treated as treasury stock as of December 31, 2019. These shares were sold from the trust in the first quarter of 2020. TREASURY STOCK The total number of shares authorized for Occidental’s share repurchase program is 185 million shares of which 44.2 million may yet be purchased under the repurchase program. However, the program does not obligate Occidental to acquire any specific number of shares and may be discontinued at any time. In 2021 and 2020, no shares were purchased under the program. In 2019, 2.7 million shares were purchased at an average price of $66.94. Additionally, Occidental purchased shares from the trustee of its defined contribution savings plan in 2021 and 2020. As of December 31, 2021, 2020 and 2019, treasury stock shares numbered 149.3 million, 149.1 million and 150.3 million, respectively. PREFERRED STOCK In connection with the Acquisition, Occidental issued 100,000 shares of series A preferred stock, having a face value of $100,000 per share and a liquidation preference of $105,000 per share plus unpaid accrued dividends. In connection with the preferred stock issuance, Occidental also issued the Warrant. The holder of the Warrant and the preferred stock may redeem the preferred stock as payment for the exercise price of the Warrant in lieu of cash payment upon exercise. The preferred stock is redeemable at Occidental’s option after the 10th anniversary of issuance. Dividends on the preferred stock will accrue on the face value at a rate per annum of 8%, but will be paid only when, as and if declared by Occidental’s Board of Directors. At any time, when such dividends have not been paid in full, the unpaid amounts will accrue dividends, compounded quarterly, at a rate per annum of 9%. Following the payment in full of any accrued but unpaid dividends, the dividend rate will remain at 9% per annum. If preferred dividends are not paid in full, Occidental is prohibited from paying dividends on common stock. Occidental paid $200 million in preferred stock dividends in each quarter of 2021. As of December 31, 2021 and 2020, Occidental had 100,000 shares of preferred stock issued and outstanding, and none were outstanding in 2019. COMMON STOCK WARRANTS On June 26, 2020, the Board of Directors declared a distribution of warrants to holders of Occidental common stock, at a rate of 0.125 warrants per share of Occidental common stock (Common Stock Warrants). Occidental issued approximately 116 million Common Stock Warrants on August 3, 2020 to holders of record of outstanding shares of Occidental’s common stock as of the close of business on July 6, 2020, and pursuant to Occidental’s outstanding equity-based incentive awards in connection with anti-dilution adjustments resulting from such distribution. The Common Stock Warrants have an exercise price of $22.00 per share and will expire on August 3, 2027. The Common Stock Warrants are listed on the NYSE and trade under the symbol "OXY WS". The Common Stock Warrants were measured at fair value on the declaration date using the Black-Scholes option model and were classified as equity in "Additional paid-in capital". The following level 2 inputs were used in the Black-Scholes option model: the expected life of the Common Stock Warrants, a volatility factor and the exercise price. The expected life is based on the estimated term of the Common Stock Warrants, the volatility factor is based on historical volatilities of Occidental common stock and the exercise of $22.00 per share of Occidental common stock. As of the declaration date, the fair value of the Common Stock Warrants was determined to be $767 million. EARNINGS PER SHARE The following table presents the calculation of basic and diluted EPS for the years ended December 31: millions except per share amounts 2021 2020 2019 Income (loss) from continuing operations $ 2,790 $ (13,533) $ (507) Loss from discontinued operations (468) (1,298) (15) Net income (loss) $ 2,322 $ (14,831) $ (522) Less: Net income attributable to noncontrolling interest — — (145) Less: Preferred stock dividends (800) (844) (318) Net income (loss) attributable to common stock $ 1,522 $ (15,675) $ (985) Less: Net income allocated to participating securities (10) — — Net income (loss), net of participating securities $ 1,512 $ (15,675) $ (985) Weighted-average number of basic shares 935.0 918.7 809.5 Basic earnings (loss) per common share $ 1.62 $ (17.06) $ (1.22) Net income (loss), net of participating securities $ 1,512 $ (15,675) $ (985) Weighted-average number of basic shares 935.0 918.7 809.5 Dilutive securities 23.8 — — Total diluted weighted-average common shares 958.8 918.7 809.5 Diluted earnings (loss) per common share $ 1.58 $ (17.06) $ (1.22) As of December 31, 2021, warrants and options covering 87 million shares of Occidental common stock were excluded from the diluted shares as their effect would have been anti-dilutive. As of December 31, 2020, warrants and options covering 203 million shares of Occidental common stock were excluded from the diluted shares as their effect would have been anti-dilutive. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Accumulated OCI (loss) consisted of the following after-tax amounts as of December 31: millions 2021 2020 Foreign currency translation adjustments $ (8) $ (6) Losses on derivatives (104) (119) Pension and postretirement adjustments (a) (96) (163) Total $ (208) $ (288) (a) See Note 11 - Retirement and Postretirement Benefit Plans for further information.

STOCK-BASED INCENTIVE PLANS

STOCK-BASED INCENTIVE PLANS	12 Months Ended
STOCK-BASED INCENTIVE PLANS	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED INCENTIVE PLANS	NOTE 15 - STOCK-BASED INCENTIVE PLANS Occidental issues stock-based awards to employees in accordance with the terms of the Plan, as amended and restated. An aggregate of 133 million shares of Occidental common stock were authorized for issuance and approximately 16.0 million shares had been reserved for issuance for employee awards through December 31, 2021. As of December 31, 2021, approximately 68.7 million shares were available for grants of future awards. The plan requires each share covered by an award (other than options) to be counted as if three shares were issued in determining the number of shares that are available for future awards. Accordingly, the number of shares available for future awards may be less than 68.7 million depending on the type of award granted, and shares available for future awards may increase by the number of shares that are forfeited, canceled, or correspond to the portion of any stock-based awards settled in cash, including awards that were issued under a previous plan that remain outstanding. Current outstanding awards include RSUs, stock options, CROCEI awards and TSRI awards. During 2021, non-employee directors were granted awards for 88,802 shares of common stock. Compensation expense for these awards was measured using the closing quoted market price of Occidental’s common stock on the grant date and was fully recognized at that time. Occidental incurred expenses of $287 million, $202 million and $208 million related to stock-based incentive plans in the years ended December 31, 2021, 2020, and 2019, respectively. The income tax benefit associated with this expense was $60 million, $42 million and $43 million in the years ended December 31, 2021, 2020, and 2019, respectively. As of December 31, 2021, unrecognized compensation expense for all unvested stock-based incentive awards was $225 million. This expense is expected to be recognized over a weighted-average period of 1.7 years. Occidental accounts for forfeitures as they occur. RESTRICTED STOCK UNITS Certain employees are awarded the right to receive RSUs, some of which have performance criteria, and are in the form of, or equivalent in value to, actual shares of Occidental common stock. Depending on their terms, RSUs may be settled in stock or may be cash settled liabilities. These awards vest from one CASH-SETTLED RSU LIABILITY AWARDS The weighted-average, grant-date fair values of cash-settled RSUs granted in 2021, 2020 and 2019 were $25.83, $40.86 and $42.62 per share, respectively. Cash-settled RSUs resulted in payments of $4 million, $3 million and $4 million, during the years ended December 31, 2021, 2020 and 2019, respectively. STOCK-SETTLED RESTRICTED STOCK UNIT EQUITY AWARDS The weighted-average, grant-date fair values of the stock-settled RSUs granted in 2021, 2020, and 2019 were $25.45, $41.60 and $58.73, respectively. The fair value of RSUs settled in shares during the years ended December 31, 2021, 2020 and 2019 was $70 million, $62 million and $148 million, respectively. A summary of changes in Occidental’s unvested cash- and stock-settled RSUs during the year ended December 31, 2021, is presented below: Cash-Settled Stock-Settled thousands, except fair values RSUs Weighted-Average RSUs Weighted-Average Unvested as of January 1 5,457 $ 42.41 5,856 $ 50.21 Granted 190 $ 25.83 5,773 $ 25.45 Vested (a) (166) $ 56.36 (2,750) $ 53.27 Forfeitures (106) $ 40.08 (290) $ 35.07 Unvested as of December 31 5,375 $ 41.44 8,589 $ 33.10 (a) Presented at the target payouts. Stock-settled RSU weighted-average payout at vesting was 95% of the target, resulting in the issuance of approximately 2,605,000 shares of Occidental common stock. Cash-settled RSUs do not have performance criteria. TOTAL SHAREHOLDER RETURN INCENTIVE AWARDS Certain executives are awarded TSRIs that vest at the end of a three-year period following the grant date. Payout is based upon Occidental’s absolute total shareholder return and performance relative to its peers. TSRIs have payouts that range from 0% to 200% of the target award and settle in stock once certified. Dividend equivalents for TSRIs are accumulated and paid upon certification of the award. The fair value of TSRIs settled in shares during the years ended December 31, 2021, 2020 and 2019 was $4 million, $9 million and $4 million, respectively. The fair values of TSRIs are initially determined on the grant date using a Monte Carlo simulation model based on Occidental’s assumptions, noted in the following table, and the volatility from corresponding peer group companies. The expected life is based on the Term. The risk-free interest rate is the implied yield available on zero coupon Treasury notes at the time of grant with a remaining term equal to the Term. The dividend yield is the expected annual dividend yield over the Term, expressed as a percentage of the stock price on the grant date. Estimates of fair value may not accurately predict the value ultimately realized by the employees who receive the awards, and the ultimate value may not be indicative of the reasonableness of the original estimates of fair value made by Occidental. The grant-date assumptions used in the Monte Carlo simulation models for the estimated payout level of TSRIs were as follows: TSRIs 2021 2020 2019 Assumptions used: Risk-free interest rate 0.2% 1.4% 2.5% Volatility factor 75% 26% 22% Expected life (years) 2.88 3 3 Grant-date fair value of underlying Occidental common stock $ 25.39 $ 41.60 $ 67.19 A summary of changes in Occidental’s unvested TSRIs during the year ended December 31, 2021 is presented below: TSRIs thousands, except fair values Awards Weighted-Average Unvested as of January 1 1,534 $ 58.02 Granted 665 $ 25.39 Vested (a) (420) $ 69.87 Forfeitures (10) $ 25.39 Unvested as of December 31 1,769 $ 43.12 (a) Presented at the target payouts. The weighted-average payout at vesting was 34% of the target, resulting in the issuance of approximately 145,000 shares of Occidental common stock. STOCK OPTIONS Certain employees are granted options that vest over three years, expire on the tenth anniversary of the grant date, and settle in stock. Exercise prices of the options were equal to the quoted market value of Occidental’s stock on the grant date. These options had a grant date fair value of $12.72, as estimated by the Black Scholes model. The inputs to this model are presented below: Options 2021 Assumptions used: Risk-free interest rate 0.7% Volatility factor 55% Expected life (years) 6.00 Dividend yield 0.16% Grant-date fair value of underlying Occidental common stock $ 25.39 A summary of Occidental’s outstanding stock options as of December 31, 2021 and changes during the year ended December 31, 2021 is presented below: Vested Unvested thousands, except fair values Options Weighted Average Strike Price Options Weighted Average Strike Price January 1 1,326 $ 55.38 1,900 $ 40.03 Granted — $ — 440 $ 25.39 Vested 910 $ 40.03 (910) $ 40.03 December 31 2,236 $ 49.13 1,430 $ 35.52 No options were exercised during the years ended December 31, 2021, 2020 and 2019. As of December 31, 2021, the remaining life of fully vested options was 6.9 years. CASH RETURN ON CAPITAL EMPLOYED INCENTIVE AWARDS Certain executives are awarded CROCEI awards that vest at the end of a three-year period if performance targets based on CROCE are met. These awards are settled in stock upon certification of the performance target, with payouts that range from 0% to 200% of the target award. Dividend equivalents are accumulated and paid upon certification of the award. A summary of changes in Occidental’s unvested CROCEI during the year ended December 31, 2021 is presented below: CROCEI thousands, except fair values Awards Weighted-Average Unvested as of January 1 197 $ 41.60 Granted 221 $ 25.39 Unvested as of December 31 418 $ 33.03

INDUSTRY SEGMENTS AND GEOGRAPHI

INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS	12 Months Ended
INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS	Dec. 31, 2021
Segment Reporting [Abstract]
INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS	NOTE 16 - INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS Occidental conducts its operations through three segments: (1) oil and gas; (2) chemical; and (3) midstream and marketing. The factors used to identify these segments are based on the nature of the operations that are undertaken in each segment. Income taxes, interest income, interest expense, environmental remediation expenses, Anadarko Acquisition-related costs and unallocated corporate expenses are included under corporate and eliminations. Intersegment sales eliminate upon consolidation and are generally made at prices approximating those that the selling entity would be able to obtain in third-party transactions. Identifiable assets are those assets used in the operations of the segments. Corporate assets consist of cash and restricted cash, certain corporate receivables and PP&E. The chief operating decision maker analyzes each segment’s operating results to make decisions about resources to be allocated to the segment and to assess its performance as well as Occidental’s overall performance. Oil and gas Chemical Midstream and marketing Corporate Total Year ended December 31, 2021 Net sales $ 18,941 $ 5,246 $ 2,863 $ (1,094) $ 25,956 Income (loss) from continuing operations before income taxes $ 4,145 (a) $ 1,544 $ 257 (b) $ (2,241) (c) $ 3,705 Income tax expense — — — (915) (d) (915) Income (loss) from continuing operations $ 4,145 $ 1,544 $ 257 $ (3,156) $ 2,790 Investments in unconsolidated entities $ 154 $ 608 $ 2,176 $ — $ 2,938 Property, plant and equipment additions (e) $ 2,458 $ 316 $ 107 $ 50 $ 2,931 Depreciation, depletion and amortization $ 7,741 $ 343 $ 325 $ 38 $ 8,447 Total assets $ 56,132 $ 4,671 $ 11,132 $ 3,101 $ 75,036 Year ended December 31, 2020 Net sales $ 13,066 $ 3,733 $ 1,768 $ (758) $ 17,809 Income (loss) from continuing operations before income taxes $ (9,632) (a) $ 664 $ (4,175) (b) $ (2,562) (c) $ (15,705) Income tax benefit — — — 2,172 (d) 2,172 Income (loss) from continuing operations $ (9,632) $ 664 $ (4,175) $ (390) $ (13,533) Investments in unconsolidated entities $ 168 $ 645 $ 2,437 $ — $ 3,250 Property, plant and equipment additions (e) $ 2,279 $ 261 $ 50 $ 29 $ 2,619 Depreciation, depletion and amortization $ 7,414 $ 356 $ 312 $ 15 $ 8,097 Total assets $ 62,931 $ 4,326 $ 9,856 $ 2,951 $ 80,064 Year ended December 31, 2019 Net sales $ 13,941 $ 4,102 $ 4,132 $ (1,264) $ 20,911 Income (loss) from continuing operations before income taxes $ 2,520 (a) $ 799 $ 241 (b) $ (3,206) (c) $ 354 Income tax expense — — — (861) (d) (861) Income (loss) from continuing operations $ 2,520 $ 799 $ 241 $ (4,067) $ (507) Investments in unconsolidated entities $ 181 $ 689 $ 5,519 $ — $ 6,389 Property, plant and equipment additions (e) $ 5,571 $ 272 $ 475 $ 135 $ 6,453 Depreciation, depletion and amortization $ 5,153 $ 368 $ 563 $ 56 $ 6,140 Total assets $ 80,093 $ 4,361 $ 14,915 $ 7,821 $ 107,190 (a) The 2021 amount included $282 million of asset impairments and $280 million of net oil, gas and CO 2 derivative losses. The 2020 amount included $7.1 billion related to asset impairments and net asset sale losses of $1.6 billion, partially offset by a $1.1 billion gain on the oil and gas collars and calls. The 2019 amount included a net gain on sale of $475 million related to Occidental’s joint venture with Ecopetrol in the Midland Basin and sale of real estate assets, a $285 million impairment charge associated with domestic undeveloped leases that were set to expire in the near-term, where Occidental had no plans to pursue exploration activities and a $39 million charge related to Occidental’s mutually agreed early termination of its Qatar ISSD contract. (b) The 2021 amount included $252 million in derivative mark-to-market losses and $124 million of gains on sales, primarily from the sale of 11.5 million limit partner units in WES. The 2020 amount included $2.7 billion of other-than-temporary impairment of WES equity investment and $1.4 billion of impairments related to the write-off of goodwill and a $236 million loss from an equity investment related to WES' write-off of its goodwill. The 2019 amount included a $1 billion charge as a result of recording Occidental’s investment in WES at fair value as of December 31, 2019 upon the loss of control, a $114 million gain on the sale of an equity investment in Plains and a $30 million mark-to-market gain on an interest rate swap for WES. (c) The 2021 amount included $153 million of Anadarko acquisition-related costs, $122 million net derivative mark-to-market gains on interest rate swaps and $118 million of early debt extinguishment expenses. The 2020 amount included $339 million in expenses related to Anadarko Acquisition-related costs and a $428 million loss on interest rate swaps. The 2019 amount included corporate transactions related to the Acquisition including charges of $1.0 billion related to employee severance and related costs, $401 million related to crucial seismic data and $213 million for bank, legal and consulting fees. The tax effect of these pre-tax adjustments was a $0.2 billion benefit in 2021, a $1.9 billion benefit in 2020, and a $245 million benefit in 2019. (d) Included all foreign and domestic income taxes from continuing operations. (e) Included capital expenditures and capitalized interest, but excluded acquisition and disposition of assets. GEOGRAPHIC AREAS millions Property, plant and equipment, net For the years ended December 31, 2021 2020 2019 United States $ 53,197 $ 59,016 $ 72,808 International UAE 3,645 3,737 3,886 Oman 2,055 1,901 2,115 Algeria 496 664 1,761 Colombia — — 1,010 Qatar 468 510 563 Other International 69 61 87 Total International 6,733 6,873 9,422 Total $ 59,930 $ 65,889 $ 82,230

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
Schedule II - Valuation and Qualifying Accounts	Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II – Valuation and Qualifying Accounts Occidental Petroleum Corporation Additions millions Balance at Beginning of Period Charged to Charged to Deductions (a) Balance at 2021 Allowance for doubtful accounts $ 822 $ 56 $ (11) $ — $ 867 (b) Environmental, litigation, tax and other reserves $ 2,429 $ 900 $ 94 $ (259) $ 3,164 (c) 2020 Allowance for doubtful accounts $ 788 $ 37 $ (3) $ — $ 822 (b) Environmental, litigation, tax and other reserves $ 2,411 $ 115 $ 43 $ (140) $ 2,429 (c) 2019 Allowance for doubtful accounts $ 668 $ 126 $ (6) $ — $ 788 (b) Environmental, litigation, tax and other reserves $ 994 $ 182 $ 1,408 $ (173) $ 2,411 (c) (a) Primarily represents payments. (b) Of these amounts, $46 million, $42 million and $22 million in 2021, 2020, and 2019, respectively, were classified as current. (c) Of these amounts, $790 million, $149 million and $188 million in 2021, 2020, and 2019, respectively, were classified as current. Note: The amounts presented represent continuing operations.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2021
Accounting Policies [Abstract]
PRINCIPLES OF CONSOLIDATION	PRINCIPLES OF CONSOLIDATIONThe consolidated financial statements have been prepared in conformity with GAAP and include the accounts of Occidental, its subsidiaries, its undivided interests in oil and gas exploration and production ventures and, previously, variable interest entities, for which Occidental was the primary beneficiary. Occidental accounts for its share of oil and gas exploration and production ventures, in which it has a direct working interest, by reporting its proportionate share of assets, liabilities, revenues, costs and cash flows within the relevant lines on the balance sheets, statements of operations and statements of cash flows.
INVESTMENTS IN UNCONSOLIDATED ENTITIES	INVESTMENTS IN UNCONSOLIDATED ENTITIESOccidental’s percentage interest in the underlying net assets of affiliates for which it exercises significant influence without having a controlling interest (excluding oil and gas ventures in which Occidental holds an undivided interest) are accounted for under the equity method. Occidental reviews equity-method investments for impairment whenever events or changes in circumstances indicate that an other-than-temporary decline in value may have occurred. The amount of impairment, if any, is based on quoted market prices, when available, or other valuation techniques, including discounted cash flows. Occidental evaluates the facts and circumstances of any distributions in excess of its carrying amount in the investment to determine the appropriate accounting, including the source of the proceeds and any implicit or explicit commitments to fund the affiliate. If there is no implicit or explicit commitment the distribution is treated as a gain. If an implicit or explicit commitment exists to possibly fund the affiliate at a future date the distribution is recorded against the equity-method investment.
RISKS AND UNCERTAINTIES	RISKS AND UNCERTAINTIES The process of preparing consolidated financial statements in conformity with GAAP requires Occidental’s management to make informed estimates and judgments regarding certain types of financial statement balances and disclosures. Such estimates primarily relate to unsettled transactions and events as of the date of the consolidated financial statements and judgments on expected outcomes as well as the materiality of transactions and balances. Changes in facts and circumstances or discovery of new information relating to such transactions and events may result in revised estimates and judgments and actual results may differ from estimates upon settlement. Management believes that these estimates and judgments provide a reasonable basis for the fair presentation of Occidental’s financial statements. Occidental establishes a valuation allowance against net operating losses and other deferred tax assets to the extent it believes the future benefit from these assets will not be realized in the statutory carryforward periods. Realization of deferred tax assets is dependent upon Occidental generating sufficient future taxable income and reversal of temporary differences in jurisdictions where such assets originate. The accompanying consolidated financial statements include assets of approximately $7.7 billion as of December 31, 2021 and net sales of approximately $4.2 billion for the year ended December 31, 2021, relating to Occidental’s operations in countries outside North America. Occidental operates some of its oil and gas business in countries that have experienced situations including such things as political instability, nationalizations, corruption, armed conflict, terrorism, insurgency, civil unrest, security problems, labor unrest, OPEC production restrictions, equipment import restrictions and sanctions, all of which increase Occidental’s risk of loss, delayed or restricted production or may result in other adverse consequences. Occidental attempts to conduct its affairs so as to mitigate its exposure to such risks and would seek compensation in the event of nationalization.
INVENTORIES	INVENTORIES Materials and supplies are valued at weighted-average cost and are reviewed periodically for obsolescence. Oil, NGL and natural gas inventories are valued at the lower of cost or market. For the chemical segment, Occidental’s finished goods inventories are valued at the lower of cost or market. For most of its domestic inventories, other than materials and supplies, the chemical segment uses the last-in, first-out (LIFO) method as it better matches current costs and current revenue. For other countries, Occidental uses the first-in, first-out method (if the costs of goods are specifically identifiable) or the average-cost method (if the costs of goods are not specifically identifiable).
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT OIL AND GAS The carrying value of Occidental’s PP&E represents the cost incurred to acquire or develop the asset, including any AROs and capitalized interest, net of accumulated DD&A and any impairment charges. For assets acquired, PP&E cost is based on fair values at the acquisition date. AROs and interest costs incurred in connection with qualifying capital expenditures are capitalized and amortized over the lives of the related assets. Occidental uses the successful efforts method to account for its oil and gas properties. Under this method, Occidental capitalizes costs of acquiring properties, costs of drilling successful exploration wells and development costs. The costs of exploratory wells are initially capitalized pending a determination of whether proved reserves have been found. If proved reserves have been found, the costs of exploratory wells remain capitalized. For exploratory wells that find reserves that cannot be classified as proved when drilling is completed, costs continue to be capitalized as suspended exploratory drilling costs if there have been sufficient reserves found to justify completion as a producing well and sufficient progress is being made in assessing the reserves and the economic and operating viability of the project. At the end of each quarter, management reviews the status of all suspended exploratory drilling costs in light of ongoing exploration activities, in particular, whether Occidental is making sufficient progress in its ongoing exploration and appraisal efforts or, in the case of discoveries requiring government sanctioning, analyzing whether development negotiations are underway and proceeding as planned. If management determines that future appraisal drilling or development activities are unlikely to occur, associated suspended exploratory well costs are expensed. Occidental expenses annual lease rentals, the costs of injectants used in production and geological and geophysical costs as incurred. Occidental determines depreciation and depletion of oil and gas producing properties by the unit-of-production method. It amortizes leasehold costs over total proved reserves and capitalized development and successful exploration costs over proved developed reserves. As a result of Occidental's mid-year reserve review undertaken in the second quarter of 2021, DD&A rates for the second half of 2021 were lower compared to the first half of 2021 due to increased proved reserves primarily related to positive price revisions. Proved oil, NGL and natural gas reserves were estimated during this mid-year review using the unweighted arithmetic average of the first-day-of-the-month price for each month for the twelve months ended June 30, 2021, unless prices were defined by contractual arrangements. Proved oil and gas reserves are those quantities of oil and gas which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from a given date forward, from known reservoirs and under existing economic conditions, operating methods and government regulations prior to the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for the estimation. Proved reserves includes PUD reserves. PUD reserves are supported by a management approved, detailed, field-level development plan where sufficient capital has been committed to develop those reserves. Only PUD reserves which are reasonably certain to be drilled within five years of booking and are supported by a final investment decision to drill them are included in the development plan. A portion of the PUD reserves associated with international operations are expected to be developed beyond the five years and are tied to approved long-term development projects. Occidental performs impairment tests with respect to its proved properties whenever events or circumstances indicate that the carrying value of property may not be recoverable. If there is an indication the carrying amount of the asset may not be recovered due to significant and prolonged declines in current and forward prices, significant changes in reserve estimates, changes in management’s plans, or other significant events, management will evaluate the property for impairment. Under the successful efforts method, if the sum of the undiscounted cash flows is less than the carrying value of the proved property, the carrying value is reduced to estimated fair value and reported as an impairment charge in the period. Individual proved properties are grouped for impairment purposes at the lowest level for which there are identifiable cash flows unless observable and comparable transactions are available. The fair value of impaired assets is typically determined based on the present value of expected future cash flows using discount rates believed to be consistent with those used by market participants. The impairment test incorporates a number of assumptions involving expectations of future cash flows which can change significantly over time. These assumptions include estimates of future production, product prices, contractual prices, estimates of risk-adjusted oil and gas proved and unproved reserves and estimates of future operating and development costs. It is reasonably possible that prolonged declines in commodity prices, reduced capital spending in response to lower prices or increases in operating costs could result in additional impairments. See Note 9 - Fair Value Measurements and below for further discussion of asset impairments. Significant unproved properties, primarily as a result of the Acquisition, are assessed individually for impairment and when events or circumstances indicate that the carrying value of property may not be recovered a valuation allowance is provided if an impairment is indicated. Occidental periodically reviews significant unproved properties for impairments; numerous factors are considered, including but not limited to, availability of funds for future exploration and development activities, current exploration and development plans, favorable or unfavorable exploration activity on the property or the adjacent property, geologists’ evaluation of the property, the current and projected political and regulatory climate, contractual conditions and the remaining lease term for the properties. If an impairment is indicated, Occidental will first determine whether a comparable transaction for similar properties or implied acreage valuation derived from domestic onshore market participants is available and will adjust the carrying amount of the unproved property to its fair value using the market approach. In situations where the market approach is not observable and unproved reserves are available, undiscounted future net cash flows used in the impairment analysis are determined based on managements’ risk adjusted estimates of unproved reserves, future commodity prices and future costs to produce the reserves. If undiscounted future net cash flows are less than the carrying value of the property, the future net cash flows are discounted and compared to the carrying value for determining the amount of the impairment loss to record. Occidental utilizes the same assumptions and methodology discussed above for cash flows associated with proved properties. CHEMICAL Occidental’s chemical assets are depreciated using either the unit-of-production or the straight-line method, based upon the estimated useful lives of the facilities. The estimated useful lives of Occidental’s chemical assets, which range from three years to 50 years, are also used for impairment tests. The estimated useful lives for the chemical facilities are based on the assumption that Occidental will provide an appropriate level of annual expenditures to ensure productive capacity is sustained. Such expenditures consist of ongoing routine repairs and maintenance, as well as planned major maintenance activities (PMMA). Ongoing routine repairs and maintenance expenditures are expensed as incurred. PMMA costs are capitalized and amortized over the period until the next planned overhaul. Additionally, Occidental incurs capital expenditures that extend the remaining useful lives of existing assets, increase their capacity or operating efficiency beyond the original specification or add value through modification for a different use. These capital expenditures are not considered in the initial determination of the useful lives of these assets at the time they are placed into service. The resulting revision, if any, of the asset’s estimated useful life is measured and accounted for prospectively. Without these continued expenditures, the useful lives of these assets could decrease significantly. Other factors that could change the estimated useful lives of Occidental’s chemical assets include sustained higher or lower product prices, which are affected by domestic and international competition, demand, feedstock costs, energy prices, environmental regulations and technological changes. Occidental performs impairment tests on its chemical assets whenever events or changes in circumstances lead to a reduction in the estimated useful lives or estimated future cash flows that would indicate that the carrying amount may not be recoverable, or when management’s plans change with respect to those assets. Any impairment loss would be calculated as the excess of the asset’s net book value over its estimated fair value. MIDSTREAM AND MARKETING Occidental’s midstream and marketing PP&E is depreciated over the estimated useful lives of the assets, using either the unit-of-production or straight-line method. Occidental performs impairment tests on its midstream and marketing assets whenever events or changes in circumstances lead to a reduction in the estimated useful lives or estimated future cash flows that would indicate that the carrying amount may not be recoverable, or when management’s plans change with respect to those assets. Any impairment loss would be calculated as the excess of the asset’s net book value over its estimated fair value.
IMPAIRMENTS AND OTHER CHARGES	IMPAIRMENTS AND OTHER CHARGES During 2021, Occidental’s oil and gas segment recognized pre-tax impairment and related charges of $282 million primarily related to undeveloped leases that either expired or were set to expire in the near-term, where Occidental had no plans to pursue exploration activities and, to a lesser extent, impairments of oil and gas materials and supplies inventories. During 2020, Occidental’s oil and gas segment recognized pre-tax impairment and related charges of $7.0 billion related to proved and unproved properties. An additional pre-tax impairment of $2.2 billion related to Ghana was included in discontinued operations. During 2020, Occidental’s midstream and marketing segment recognized pre-tax impairment and related charges of $1.2 billion related to goodwill associated with Occidental’s ownership in WES. Significant declines in the market value of WES’ publicly traded units resulted in management’s determination that, more likely than not, the fair value of the reporting unit was significantly less than its carrying value and the entire balance was fully impaired. The market value of WES’ publicly traded units is considered a Level 1 input. During 2019, Occidental’s oil and gas segment recognized pre-tax impairment and related charges of $285 million related to domestic undeveloped leases that were set to expire in the near-term, where Occidental had no plans to pursue exploration activities, and $39 million related to Occidental’s mutually agreed early termination of its Qatar Idd El Shargi South Dome (ISSD) contract. It is reasonably possible that prolonged declines in commodity prices, reduced capital spending in response to lower prices or increases in operating costs could result in additional impairments.
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Occidental has categorized its assets and liabilities that are measured at fair value in a three-level fair value hierarchy, based on the inputs to the valuation techniques: Level 1 – using quoted prices in active markets for the assets or liabilities; Level 2 – using observable inputs other than quoted prices for the assets or liabilities; and Level 3 – using unobservable inputs. Transfers between levels, if any, are reported at the end of each reporting period. FAIR VALUES - RECURRING Occidental primarily applies the market approach for recurring fair value measurements, maximizes its use of observable inputs and minimizes its use of unobservable inputs. Occidental utilizes the mid-point between bid and ask prices for valuing the majority of its assets and liabilities measured and reported at fair value. In addition to using market data, Occidental makes assumptions in valuing its assets and liabilities, including assumptions about the risks inherent in the inputs to the valuation technique. For assets and liabilities carried at fair value, Occidental measures fair value using the following methods: ■ Occidental values exchange-cleared commodity derivatives using closing prices provided by the exchange as of the balance sheet date. These derivatives are classified as Level 1. ■ OTC bilateral financial commodity contracts, foreign exchange contracts, interest rate swaps, warrants, options and physical commodity forward purchase and sale contracts are generally classified as Level 2 and are generally valued using quotations provided by brokers or industry-standard models that consider various inputs, including quoted forward prices for commodities, time value, volatility factors, credit risk and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these inputs are observable in the marketplace throughout the full term of the instrument, and can be derived from observable data or are supported by observable prices at which transactions are executed in the marketplace. ■ Occidental values commodity derivatives based on a market approach that considers various assumptions, including quoted forward commodity prices and market yield curves. The assumptions used include inputs that are generally unobservable in the marketplace or are observable but have been adjusted based upon various assumptions and the fair value is designated as Level 3 within the valuation hierarchy. ■ Occidental values debt using market-observable information for debt instruments that are traded on secondary markets. For debt instruments that are not traded, the fair value is determined by interpolating the value based on debt with similar terms and credit risk. NON-FINANCIAL ASSETS Occidental uses market-observable prices for assets when comparable transactions can be identified that are similar to the asset being valued. When Occidental is required to measure fair value and there is not a market-observable price for the asset or for a similar asset then the cost or income approach is used depending on the quality of information available to support management’s assumptions. The cost approach is based on management’s best estimate of the current asset replacement cost. The income approach is based on management’s best assumptions regarding expectations of future net cash flows. The expected cash flows are discounted using a commensurate risk-adjusted discount rate. Such evaluations involve significant judgment, and the results are based on expected future events or conditions such as sales prices, estimates of future oil and gas production or throughput, development and operating costs and the timing thereof, economic and regulatory climates and other factors, most of which are often outside of management’s control. However, assumptions used reflect a market participant’s view of long-term prices, costs and other factors and are consistent with assumptions used in Occidental’s business plans and investment decisions.
ACCRUED LIABILITIES-CURRENT	ACCRUED LIABILITIES - CURRENT Accrued liabilities - current included accrued payroll, commissions and related expenses of $677 million and $461 million as of December 31, 2021, and 2020, respectively. Dividends payable, also included in accrued liabilities - current, were $188 million and $189 million as of December 31, 2021, and 2020, respectively. Derivative financial instruments, also included in accrued liabilities - current, were $0.2 billion and $1.1 billion as of December 31, 2021, and 2020, respectively.
ENVIRONMENTAL LIABILITIES AND EXPENDITURES	ENVIRONMENTAL LIABILITIES AND EXPENDITURES Environmental expenditures that relate to current operations are expensed or capitalized as appropriate. Occidental records environmental liabilities and related charges and expenses for estimated remediation costs that relate to existing conditions from past operations when environmental remediation efforts are probable and the costs can be reasonably estimated. In determining the environmental remediation liability and the range of reasonably possible additional losses, Occidental refers to currently available information, including relevant past experience, remedial objectives, available technologies, applicable laws and regulations and cost-sharing arrangements. Occidental bases its environmental remediation liabilities on management’s estimate of the most likely cost to be incurred, using the most cost-effective technology reasonably expected to achieve the remedial objective. Occidental periodically reviews its environmental remediation liabilities and adjusts them as new information becomes available. Occidental generally records reimbursements or recoveries of environmental remediation costs in income when received, or when receipt of recovery is highly probable. Many factors could affect Occidental’s future remediation costs and result in adjustments to its environmental remediation liabilities and the range of reasonably possible additional losses. The most significant are: (1) cost estimates for remedial activities may vary from the initial estimate; (2) the length of time, type or amount of remediation necessary to achieve the remedial objective may change due to factors such as site conditions, the ability to identify and control contaminant sources or the discovery of additional contamination; (3) a regulatory agency may ultimately reject or modify Occidental’s proposed remedial plan; (4) improved or alternative remediation technologies may change remediation costs; (5) laws and regulations may change remediation requirements or affect cost sharing or allocation of liability; and (6) changes in allocation or cost-sharing arrangements may occur. Certain sites involve multiple parties with various cost-sharing arrangements, which fall into the following three categories: (1) environmental proceedings that result in a negotiated or prescribed allocation of remediation costs among Occidental and other alleged potentially responsible parties; (2) oil and gas ventures in which each participant pays its proportionate share of remediation costs reflecting its working interest; or (3) contractual arrangements, typically relating to purchases and sales of properties, in which the parties to the transaction agree to methods of allocating remediation costs. In these circumstances, Occidental evaluates the financial viability of other parties with whom it is alleged to be jointly liable, the degree of their commitment to participate and the consequences to Occidental of their failure to participate when estimating Occidental’s ultimate share of liability. Occidental records its environmental remediation liabilities at its expected net cost of remedial activities and, based on these factors, believes that it will not be required to assume a share of liability of such other potentially responsible parties in an amount materially above amounts reserved. In addition to the costs of investigations and cleanup measures, which often take in excess of 10 years at CERCLA NPL sites, Occidental’s environmental remediation liabilities include management’s estimates of the costs to operate and maintain remedial systems. If remedial systems are modified over time in response to significant changes in site-specific data, laws, regulations, technologies or engineering estimates, Occidental reviews and adjusts its environmental remediation liabilities accordingly.
ASSET RETIREMENT OBLIGATIONS	ASSET RETIREMENT OBLIGATIONS Occidental recognizes the fair value of AROs in the period in which a determination is made that a legal obligation exists to dismantle an asset and reclaim or remediate the property at the end of its useful life and the cost of the obligation can be reasonably estimated. The liability amounts are based on future retirement cost estimates and incorporate many assumptions such as time to abandonment, future inflation rates and the risk-adjusted discount rate. When the liability is initially recorded, Occidental capitalizes the cost by increasing the related PP&E balances. If the estimated future cost of the AROs changes, Occidental records an adjustment to both the AROs and PP&E. Over time, the liability is increased, expense is recognized for accretion and the capitalized cost is depreciated over the useful life of the asset. The majority of Occidental’s AROs relate to the plugging of wells and the related abandonment of oil and gas properties. At a certain number of its facilities, Occidental has identified conditional AROs that are related mainly to plant decommissioning. Occidental does not know or cannot estimate when it may settle these obligations. Therefore, Occidental cannot reasonably estimate the fair value of these liabilities. Occidental will recognize these conditional AROs in the periods in which sufficient information becomes available to reasonably estimate their fair values.
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS Derivatives are carried at fair value and on a net basis when a legal right of offset exists with the same counterparty. Occidental applies hedge accounting when transactions meet specified criteria for cash flow hedge treatment and management elects and documents such treatment. Otherwise, any fair value gains or losses are recognized in earnings in the current period. For cash flow hedges, the gain or loss on the effective portion of the derivative is reported as a component of other comprehensive income (OCI) with an offsetting adjustment to the carrying value of the item being hedged. Realized gains or losses from cash flow hedges, and any ineffective portion, are recorded as a component of net sales in the consolidated statements of operations. Ineffectiveness is primarily created by a lack of correlation between the hedged item and the hedging instrument due to location, quality, grade or changes in the expected quantity of the hedged item. Gains and losses from derivative instruments are reported net in the consolidated statements of operations. There were no fair value hedges as of and during the years ended December 31, 2021, 2020 and 2019.
STOCK-BASED INCENTIVE PLANS	STOCK-BASED INCENTIVE PLANS Occidental has established a stockholder-approved 2015 Long-Term Incentive Plan, as amended and restated, for certain employees and directors (the Plan) that is more fully described in Note 15 - Stock-Based Incentive Plans . A summary of Occidental’s accounting policy for awards issued under the Plan is as follows. For cash- and stock-settled restricted stock units (RSU) and cash return on capital employed incentive (CROCEI) awards, compensation value is initially measured on the grant date using the quoted market price of Occidental’s common stock and the estimated payout on the grant date. The fair value of stock options is estimated using a Black Scholes model. For total shareholder return incentive (TSRI) awards, compensation value is initially measured on the grant date using the fair value derived from a Monte Carlo valuation model. Compensation expense for all awards is recognized on a straight-line basis over the requisite service periods, which is generally over the awards’ respective vesting or performance periods. The stock-settled awards are expensed using the initially measured compensation value. The liability resulting from cash settled awards and accrued dividends are remeasured at each reporting period. Dividends accrued on unvested awards are adjusted quarterly for any changes in the number of share equivalents expected to be paid based on the relevant performance and market criteria, if applicable. There are no outstanding awards under Occidental’s 2005 Long-Term Incentive Plan following the expiration of the non-qualified stock options granted in 2015 on February 11, 2022.
EARNINGS PER SHARE	EARNINGS PER SHARE Occidental’s instruments containing rights to nonforfeitable dividends granted in stock-based awards are considered participating securities prior to vesting and, therefore, have been deducted from earnings in computing basic and diluted earnings per share (EPS) under the two-class method. Basic EPS was computed by dividing net income attributable to common stock, net of income allocated to participating securities, by the weighted-average number of common shares outstanding during each period, including vested but unissued shares and share units. The computation of diluted EPS reflects the additional dilutive effect of stock options, warrants and unvested stock awards.
RETIREMENT AND POSTRETIREMENT BENEFIT PLANS	RETIREMENT AND POSTRETIREMENT BENEFIT PLANS Occidental recognizes the overfunded or underfunded amounts of its defined benefit pension and postretirement plans, which are more fully described in Note 11 - Retirement and Postretirement Benefit Plans , in its financial statements using a December 31 measurement date. Occidental’s defined benefit pension and postretirement benefit plan obligations are actuarially determined based on various assumptions and discount rates. The discount rate assumptions used are meant to reflect the interest rate at which the obligations could effectively be settled on the measurement date. Occidental estimates the rate of return on assets with regard to current market factors but within the context of historical returns. Occidental funds and expenses negotiated pension increases for domestic union employees over the terms of the applicable collective bargaining agreements. Pension and any postretirement plan assets are measured at fair value. Common stock, preferred stock, publicly registered mutual funds, U.S. government securities and corporate bonds are valued using quoted market prices in active markets when available. When quoted market prices are not available, these investments are valued using pricing models with observable inputs from both active and non-active markets. Common and collective trusts are valued at the fund units’ net asset value (NAV) provided by the issuer, which represents the quoted price in a non-active market. Short-term investment funds are valued at the fund units’ NAV provided by the issuer.
CASH EQUIVALENTS AND RESTRICTED CASH EQUIVALENTS	CASH EQUIVALENTS AND RESTRICTED CASH EQUIVALENTS Occidental considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents or restricted cash equivalents. The cash equivalents and restricted cash equivalents balance as of December 31, 2021, included investments in government money market funds in which the carrying value approximates fair value.
FOREIGN CURRENCY TRANSACTIONS	FOREIGN CURRENCY TRANSACTIONS The functional currency applicable to all of Occidental’s international oil and gas operations is the U.S. dollar since cash flows are denominated principally in U.S. dollars. In Occidental’s other operations, Occidental’s use of non-United States dollar functional currencies was not material for all years presented. The effect of exchange rates on transactions in foreign currencies is included in periodic income. Occidental reports the exchange rate differences arising from translating foreign-currency-denominated balance sheet accounts to the United States dollar as of the reporting date in OCI. Exchange-rate gains and losses for continuing operations were not material for all years presented.
INCOME TAXES	INCOME TAXESOccidental files various U.S. federal, state and foreign income tax returns. The impact of changes in tax regulations are reflected when enacted. In general, deferred federal, state and foreign income taxes are provided on temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax basis. Occidental routinely assesses the realizability of its deferred tax assets. If Occidental concludes that it is more likely than not that some of the deferred tax assets will not be realized, the tax asset is reduced by a valuation allowance. Occidental recognizes a tax benefit from an uncertain tax position when it is more likely than not that the position will be sustained upon examination, based on the technical merits of the position. The tax benefit recorded is equal to the largest amount that is greater than 50% likely to be realized through final settlement with a taxing authority. Interest and penalties related to unrecognized tax benefits are recognized in income tax expense (benefit).
LOSS CONTINGENCIES	LOSS CONTINGENCIES Occidental or certain of its subsidiaries are involved, in the normal course of business, in lawsuits, claims and other legal proceedings that seek, among other things, compensation for alleged personal injury, breach of contract, property
SIGNIFICANT ACCOUNTING AND DISCLOSURE CHANGES	SIGNIFICANT ACCOUNTING AND DISCLOSURE CHANGES There were no significant accounting or disclosure changes for the periods in the three years ended December 31, 2021.
REVENUE RECOGNITION	Revenue from customers is recognized when obligations under the terms of a contract are satisfied; this generally occurs with the delivery of oil, NGL, gas, chemicals or services such as transportation. Revenue from customers is measured as the amount of consideration Occidental expects to receive in exchange for the delivery of goods or services. Contracts may last from one month to one year or more and may have renewal terms that extend indefinitely at the option of either party. Price is typically based on market indexes. Volumes fluctuate due to production and, in certain cases, customer demand and transportation availability. Occidental records revenue net of certain taxes, such as sales taxes, that are assessed by governmental authorities on Occidental’s customers. Occidental does not incur significant costs to obtain contracts. Incidental items that are immaterial in the context of the contract are recognized as expenses. Sales of hydrocarbons and chemicals to customers are invoiced and settled on a monthly basis. Occidental is not usually subject to obligations for warranties, rebates, returns or refunds except in the case of customer incentive payments as discussed for the chemical segment below. Occidental does not typically receive payment in advance of satisfying its obligations under the terms of its sales contracts with customers; therefore, liabilities related to such payment are immaterial to Occidental. Occidental does not disclose consideration for remaining performance obligations with an original expected duration of one year or less or for variable consideration related to unsatisfied performance obligations. OIL AND GAS SEGMENT Revenue from oil and gas production is recognized when production is delivered and control passes to the customer. Revenues from the production of oil and gas properties in which Occidental has an interest with other producers are recognized on the basis of Occidental’s net revenue interest. CHEMICAL SEGMENT Revenue from chemical product sales is recognized when control passes to the customer. Certain incentive programs may provide for payments or credits to be made to customers based on the volume of product purchased over a defined period. Customer incentives are estimated and recorded as a reduction to revenue ratably over the contract period. Such estimates are evaluated and revised as warranted. Revenue from exchange contracts is excluded from revenue from customers. MIDSTREAM AND MARKETING SEGMENT Revenue from pipeline and gas processing is recognized upon the completion of the transportation or processing service. Revenue from power sales is recognized upon delivery. Net marketing revenue is recognized upon completion of contract terms that are a prerequisite to payment and upon title transfer for physical deliveries. Unless the normal purchases and sales exception has been elected, net marketing revenue is classified as a derivative, reported on a net basis, recorded at fair value. Changes in fair value are reflected in net sales and excluded from revenue from customers in the table below. DISAGGREGATION OF REVENUE FROM CONTRACTS WITH CUSTOMERS

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of the activity of capitalized exploratory well costs for continuing operations	The following table summarizes the activity of capitalized exploratory well costs for continuing operations for the years ended December 31: millions 2021 2020 2019 Balance — beginning of year $ 211 $ 424 $ 112 Exploratory well costs acquired through the Acquisition — — 231 Additions to capitalized exploratory well costs pending the determination of proved reserves 163 122 383 Reclassifications to property, plant and equipment based on the determination of proved reserves (67) (309) (230) Capitalized exploratory well costs charged to expense (94) (26) (72) Balance — end of year $ 213 $ 211 $ 424
Summary of the activity of the asset retirement obligation	The following table summarizes the activity of AROs for the years ended December 31: millions 2021 2020 Beginning balance $ 4,130 $ 4,659 Liabilities incurred – capitalized to PP&E 27 79 Liabilities settled and paid (174) (186) Accretion expense 205 147 Acquisitions, divestitures and other, net (53) (294) Revisions to previous estimates (109) (275) Ending balance (a) $ 4,026 $ 4,130 (a) The ending balance included $339 million and $153 million related to the current balance of AROs that are included in accrued liabilities on the Consolidated Balance Sheets as of December 31, 2021, and 2020, respectively.
Summary of cash equivalents and restricted cash equivalents	The following table provides a reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents as reported at the end of the period in the Consolidated Statements of Cash Flows for the year ended December 31, 2021, and 2020 to the line items within the Consolidated Balance Sheet as of December 31: millions 2021 2020 Cash and cash equivalents $ 2,764 $ 2,008 Restricted cash and restricted cash equivalents 24 170 Restricted cash and restricted cash equivalents included in long-term receivables and other assets, net 15 16 Cash, cash equivalents, restricted cash and restricted cash equivalents $ 2,803 $ 2,194
Schedule of supplemental cash flow information	The following table represents U.S. federal, domestic state and international income taxes paid, tax refunds received and interest paid related to continuing operations during the year ended December 31, 2021, 2020 and 2019, respectively. millions 2021 2020 2019 Income tax payments $ 763 $ 498 $ 1,944 Income tax refunds received $ 70 $ 223 $ 80 Production, property and other tax payments $ 790 $ 629 $ 724 Interest paid (a) $ 1,685 $ 1,521 $ 912 (a) Net of capitalized interest of $61 million, $84 million and $89 million, for the years 2021, 2020 and 2019, respectively.

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
REVENUE (Tables)	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of reconciliation of revenue from customers to total net sales	The following table reconciles revenue from customers to total net sales for the years ended December 31: millions 2021 2020 2019 Revenue from customers $ 25,959 $ 17,130 $ 19,192 All other revenues (a) (3) 679 1,719 Net sales $ 25,956 $ 17,809 $ 20,911 (a) Included net marketing derivatives, oil collars and calls and chemical exchange contracts.
Schedule of revenue from customers by segment, product, and geographical area	The table below presents Occidental's revenue from customers by segment, product and geographical area. The oil and gas segment typically sells its oil, NGL and gas at the lease or concession area. Chemical segment revenues are shown by geographic area based on the location of the sale. Excluding net marketing revenue, midstream and marketing segment revenues are shown by the location of sale. millions United States International Eliminations Total Year ended December 31, 2021 Oil and gas Oil $ 12,072 $ 2,844 $ — $ 14,916 NGL 2,203 325 — 2,528 Gas 1,524 291 — 1,815 Other 24 2 — 26 Segment total $ 15,823 $ 3,462 $ — $ 19,285 Chemical $ 4,995 $ 248 $ — $ 5,243 Midstream and marketing $ 1,969 $ 556 $ — $ 2,525 Eliminations $ — $ — $ (1,094) $ (1,094) Consolidated $ 22,787 $ 4,266 $ (1,094) $ 25,959 Year ended December 31, 2020 Oil and gas Oil $ 7,485 $ 2,403 $ — $ 9,888 NGL 838 217 — 1,055 Gas 660 326 — 986 Other 65 1 — 66 Segment total $ 9,048 $ 2,947 $ — $ 11,995 Chemical $ 3,524 $ 202 $ — $ 3,726 Midstream and marketing $ 1,595 $ 572 $ — $ 2,167 Eliminations $ — $ — $ (758) $ (758) Consolidated $ 14,167 $ 3,721 $ (758) $ 17,130 Year ended December 31, 2019 Oil and gas Oil $ 8,411 $ 3,939 $ — $ 12,350 NGL 658 283 — 941 Gas 424 339 — 763 Other (1) (5) — (6) Segment total $ 9,492 $ 4,556 $ — $ 14,048 Chemical $ 3,858 $ 222 $ — $ 4,080 Midstream and marketing (a) $ 1,977 $ 351 $ — $ 2,328 Eliminations $ — $ — $ (1,264) $ (1,264) Consolidated $ 15,327 $ 5,129 $ (1,264) $ 19,192 (a) The midstream and marketing segment included revenues from customers from WES from the date of the Acquisition to December 31, 2019. See Note 1 - Summary of Significant Accounting Policies for more information.

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
INVENTORIES (Tables)	Dec. 31, 2021
Inventory Disclosure [Abstract]
Schedule of inventories	Inventories consisted of the following as of December 31: millions 2021 2020 Raw materials $ 96 $ 70 Materials and supplies 783 848 Commodity inventory and finished goods 1,066 1,009 1,945 1,927 Revaluation to LIFO (99) (29) Total $ 1,846 $ 1,898

INVESTMENTS AND RELATED-PARTY_2

INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Tables)	12 Months Ended
INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Tables)	Dec. 31, 2021
Investments And Related Party Transactions Disclosure [Abstract]
Schedule of significant equity investments	Occidental’s significant equity investments are presented in investments in unconsolidated entities and in other - deferred credits and other liabilities. As of December 31, 2021, and 2020, investments in unconsolidated entities were $2.9 billion and $3.3 billion, respectively. Occidental’s equity investments presented in investments in unconsolidated entities primarily consist of the following: millions % Interest Carrying amount WES (a) 51.8 % $ 1,963 OxyChem Ingleside Facility 50.0 % 599 OLCV - related various 164 Other various 212 Total Investments in unconsolidated entities (b) $ 2,938 (a) In December 2021, Occidental sold 2.5 million limited partner units of WES for proceeds of approximately $50 million. In March 2021, Occidental sold 11.5 million limited partner units for proceeds of approximately $200 million, resulting in a gain of $102 million. In the first quarter of 2020, Occidental recorded an impairment of $1.2 billion in goodwill related to its ownership in WES and in the third quarter of 2020, recorded an other than temporary impairment of $2.7 billion related to the WES equity method investment. See Note 9 - Fair Value Measurements for more information on the impairments. (b) Not presented in investments in unconsolidated entities is Occidental’s 24.5% ownership in DEL, which has a carrying value of $217 million. Refer to the discussion below regarding the presentation of Occidental’s equity investment in DEL.
Summarized financial information of equity-method investments	The following table presents the summarized financial information of its equity-method investments combined for the years ended and as of December 31: millions 2021 2020 2019 Summarized Results of Operations (a) Revenues and other income $ 6,252 $ 5,455 $ 26,520 Costs and expenses 4,569 5,455 24,084 Net income $ 1,683 $ — $ 2,436 Summarized Balance Sheet Current assets $ 3,387 $ 1,419 $ 1,130 Non-current assets $ 19,341 $ 18,693 $ 21,158 Current liabilities $ 1,976 $ 1,549 $ 785 Long-term debt $ 9,464 $ 7,860 $ 8,673 Other non-current liabilities $ 1,187 $ 866 $ 859 Stockholders’ equity $ 10,101 $ 9,837 $ 11,971 (a) The 2019 Summarized Results of Operations included results of Plains for the period beginning January 1, 2019 through the date Occidental ’ s interest was sold in September 2019. Plains accounted for $24.7 billion of equity-method investment revenues and other income in 2019.
Summary of related-party transactions	During 2021, 2020 and 2019, Occidental entered into the following related-party transactions and had the following amounts due from or to its related parties for the years ended December 31: millions 2021 2020 2019 Sales (a,c) $ 261 $ 301 $ 691 Purchases (b,c) $ 773 $ 1,112 $ 463 Services (d) $ 942 $ 1,101 $ 28 Advances and amounts due from related parties (c) $ 57 $ 62 $ 133 Amounts due to related parties (c) $ 280 $ 296 $ 463 (a) In 2021 and 2020, sales of Occidental-produced oil and NGL to WES accounted for 58% and 70% of these totals, respectively. In 2019, sales of Occidental-produced oil and NGL to Plains Pipeline affiliates accounted for 87% of these totals. In September 2019, Occidental sold its equity investment in Plains. See Note 5 - Acquisitions, Divestitures and Other Transactions for additional information. (b) In 2021 and 2020, purchases of gas and NGL marketed on behalf of WES accounted for 27% and 59% of related party purchases, respectively, while purchases of ethylene from the OxyChem Ingleside Facility accounted for 70% and 41% in 2021 and 2020 respectively, and, in 2019, for 98% of related party purchases. (c) Excluded sales to and purchases from WES and amounts due to and from WES in 2019 as it was a consolidated subsidiary from the date of the Acquisition through December 31, 2019. (d) In 2021 and 2020, services primarily related to fees charged by WES to gather, process and treat Occidental produced oil, NGL and natural gas. Excluded charges to WES for shared corporate services.

ACQUISITIONS, DIVESTITURES AN_2

ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS (Tables)	12 Months Ended
ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS (Tables)	Dec. 31, 2021
Business Combinations, Asset Acquisitions, Dispositions and Other Disclosure [Abstract]
Schedule of acquisition-related costs	The following table summarizes the Acquisition-related costs incurred for the years ended December 31: millions 2021 2020 2019 Employee severance and related employee cost $ 117 $ 314 $ 1,033 IT costs 36 9 15 Licensing fees for critical seismic data — — 401 Bank, legal, consulting and other — 16 198 Total $ 153 $ 339 $ 1,647
Schedule of pro forma financial information	The following table summarizes the unaudited pro forma condensed financial information of Occidental for the year ended December 31, 2019 as if the Acquisition had occurred on January 1, 2018: millions except per-share amounts Revenues $ 28,723 Net loss attributable to common stockholders (a) $ (769) Net loss attributable to common stockholders per share—basic $ (0.95) Net loss attributable to common stockholders per share—diluted $ (0.95) (a) Excluding the pro-forma results of WES, net loss attributable to common stockholders would be $(1.1) billion for the year ended December 31, 2019.
Schedule of discontinued operations	The following table presents the amounts reported in discontinued operations, net of income taxes, related to the Ghana assets for the years ended December 31, 2021 and 2020 and for the Ghana, Mozambique and South Africa assets subsequent to the Acquisition closing date through December 31, 2019: millions 2021 2020 2019 Revenues and other income Net sales $ 458 $ 419 $ 221 Costs and other deductions Oil and gas lease operating expense 71 117 45 Fair value adjustment on assets held for sale (a) 409 2,263 85 Other 24 48 45 Total costs and other deductions $ 504 $ 2,428 $ 175 Income (loss) before income taxes $ (46) $ (2,009) $ 46 Income tax benefit (expense) 15 711 (61) Discontinued operations, net of tax $ (31) $ (1,298) $ (15) (a) For 2021, included effective date to close date adjustments as well as settlements of certain tax claims. The following table presents amounts related to the Ghana assets reported as held for sale in the Consolidated Balance Sheet as of December 31, 2020: millions 2020 Current assets $ 37 Property, plant and equipment, net 1,364 Long-term receivables and other assets, net 32 Assets held for sale $ 1,433 Current liabilities $ 84 Long-term debt, net - finance leases 175 Deferred income taxes 328 Asset retirement obligations 166 Liabilities of assets held for sale $ 753 Net assets held for sale $ 680

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
LONG-TERM DEBT (Tables)	Dec. 31, 2021
Debt Disclosure [Abstract]
Long-term debt	As of December 31, 2021 and 2020, Occidental’s debt consisted of the following: millions 2021 2020 4.850% senior notes due 2021 $ — $ 147 2.600% senior notes due 2021 — 224 Variable rate bonds due 2021 (1.193% as of December 31, 2020) — 27 2.700% senior notes due 2022 — 629 3.125% senior notes due 2022 — 276 2.600% senior notes due 2022 101 101 Variable rate bonds due 2022 (1.730% as of December 31, 2020) — 1,052 2.700% senior notes due 2023 442 927 8.750% medium-term notes due 2023 22 22 2.900% senior notes due 2024 949 3,000 6.950% senior notes due 2024 650 650 3.450% senior notes due 2024 127 248 8.000% senior notes due 2025 500 500 5.875% senior notes due 2025 900 900 3.500% senior notes due 2025 326 750 5.500% senior notes due 2025 750 750 5.550% senior notes due 2026 1,100 1,100 3.200% senior notes due 2026 797 1,000 3.400% senior notes due 2026 779 1,150 7.500% debentures due 2026 112 112 8.500% senior notes due 2027 500 500 3.000% senior notes due 2027 634 750 7.125% debentures due 2027 150 150 7.000% debentures due 2027 48 48 6.625% debentures due 2028 14 14 7.150% debentures due 2028 235 235 7.200% senior debentures due 2028 82 82 6.375% senior notes due 2028 600 600 7.200% debentures due 2029 135 135 7.950% debentures due 2029 116 116 8.450% senior debentures due 2029 116 116 3.500% senior notes due 2029 1,477 1,500 Variable rate bonds due 2030 (0.900% and 2.700% as of December 31, 2021 and 2020, respectively) 68 68 8.875% senior notes due 2030 1,000 1,000 6.625% senior notes due 2030 1,500 1,500 6.125% senior notes due 2031 1,250 1,250 7.500% senior notes due 2031 900 900 7.875% senior notes due 2031 500 500 6.450% senior notes due 2036 1,750 1,750 Zero Coupon senior notes due 2036 2,269 2,269 4.300% senior notes due 2039 693 750 7.950% senior notes due 2039 325 325 6.200% senior notes due 2040 750 750 4.500% senior notes due 2044 608 625 (continued on next page) millions (continued) 2021 2020 4.625% senior notes due 2045 634 750 6.600% senior notes due 2046 (a) 1,157 1,100 4.400% senior notes due 2046 976 1,200 4.100% senior notes due 2047 663 750 4.200% senior notes due 2048 961 1,000 4.400% senior notes due 2049 704 750 7.730% debentures due 2096 58 60 7.500% debentures due 2096 60 78 7.250% debentures due 2096 5 49 Total borrowings at face value $ 28,493 $ 35,235 Adjustments to book value: Unamortized premium, net 670 748 Debt issuance costs (135) (156) Net book value of debt $ 29,028 $ 35,827 Long-term finance leases 504 316 Current finance leases 85 42 Total debt and finance leases $ 29,617 $ 36,185 Less current maturities of financing leases (85) (42) Less current maturities of long-term debt (101) (398) Long-term debt, net $ 29,431 $ 35,745 (a) Occidental entered into an exchange agreement, dated as of October 20, 2021, among Occidental and certain holders of its subsidiary Anadarko’s 7.250% debentures due 2096, its subsidiary Anadarko Holding Company’s 7.500% debentures due 2096 and its subsidiary Anadarko’s 7.730% debentures due 2096 (such notes, the 2096 Notes), pursuant to which Occidental issued approximately $57.2 million of 6.600% senior notes due 2046 as additional securities under the Indenture, dated as of August 8, 2019, between Occidental and The Bank of New York Mellon Trust Company, N.A., as trustee (the 2019 Indenture), in exchange for the cancellation of approximately $64.8 million of the 2096 notes. The additional securities have identical terms and conditions as Occidental’s previously issued 6.600% senior notes due 2046 (the Initial Securities), other than the issue date and the date from which interest will accrue, are restricted securities with a related legend and initially have a different CUSIP number and ISIN number from the Initial Securities and for all purposes are treated as a single class with the outstanding Initial Securities under the 2019 Indenture. The following table summarizes Occidental’s debt activity for the year ended December 31, 2021: millions Borrowings at face value Total borrowings at face value as of December 31, 2020 $ 35,235 First quarter: 4.850% senior notes due 2021 $ (147) Variable rate bonds due 2021 (27) Third quarter: 2.700% senior notes due 2022 $ (278) 2.700% senior notes due 2023 (484) 3.450% senior notes due 2024 (81) 2.900% senior notes due 2024 (1,620) 3.500% senior notes due 2025 (229) 3.400% senior notes due 2026 (224) 3.200% senior notes due 2026 (110) 2.600% senior notes due 2021 (224) Floating interest rate notes due August 2022 (1,051) Fourth quarter: 4.400% senior notes due 2046 $ (224) 4.400% senior notes due 2049 (46) 7.730% debentures due 2096 (3) 7.500% debentures due 2096 (18) 7.250% debentures due 2096 (44) 6.600% senior notes due 2046 57 3.450% senior notes due 2024 (40) 2.900% senior notes due 2024 (431) 3.500% senior notes due 2025 (195) 3.400% senior notes due 2026 (148) 3.200% senior notes due 2026 (93) 3.000% senior notes due 2027 (116) 3.500% senior notes due 2029 (23) 4.100% senior notes due 2047 (87) 4.200% senior notes due 2048 (39) 4.300% senior notes due 2039 (57) 4.500% senior notes due 2044 (17) 4.625% senior notes due 2045 (116) 3.125% senior notes due 2022 (276) 2.700% senior notes due 2022 (351) Total borrowings at face value as of December 31, 2021 $ 28,493 DEBT ACTIVITY - 2020 The following table summarizes Occidental’s debt issuances, repurchases, repayments and exchanges for the year ended December 31, 2020: millions Borrowings at face value Total borrowings at face value as of December 31, 2019 $ 37,401 Issuance of July 2020 notes: 8.000% senior notes due 2025 500 8.500% senior notes due 2027 500 8.875% senior notes due 2030 1,000 July tender and purchase: 4.100% senior notes due February 2021 (943) Variable rate bonds due February 2021 (473) 4.850% senior notes due March 2021 (530) 2.600% senior notes due August 2021 (51) Issuance of August 2020 notes: 5.875% senior notes due 2025 900 6.375% senior notes due 2028 600 6.625% senior notes due 2030 1,500 August and September tender and purchase: 4.100% senior notes due February 2021 (139) Variable rate bonds due August 2021 (123) 2.600% senior notes due August 2021 (1,099) Variable rate bonds due August 2022 (448) 2.600% senior notes due April 2022 (171) 2.700% senior notes due August 2022 (102) 2.700% senior notes due February 2023 (52) August WES exchange: 6.500% note payable to WES due 2038 (260) September Term Loan repayment: 2-year variable rate term loan due 2021 (500) October Term Loan and note repayment: 2-year variable rate bonds due August 2021 (377) 0.00% senior notes due October 2036 (2) 2-year variable rate term loan due September 2021 (1,010) November Term Loan repayment: 2-year variable rate term loan due September 2021 (232) Issuance of December 2020 notes: 5.500% senior notes due 2025 750 6.125% senior notes due 2031 1,250 December tender and purchase: 2.600% senior notes due August 2021 (126) 3.125% senior notes due February 2022 (538) 2.600% senior notes due April 2022 (128) 2.700% senior notes due August 2022 (1,269) 2.700% senior notes due February 2023 (212) December Term Loan and note repayment: 2-year variable rate term loan due September 2021 (214) 4.100% senior notes due February 2021 (167) Total borrowings at face value as of December 31, 2020 $ 35,235

LEASE COMMITMENTS (Tables)

LEASE COMMITMENTS (Tables)	12 Months Ended
LEASE COMMITMENTS (Tables)	Dec. 31, 2021
Leases [Abstract]
Schedule of lease related assets and liabilities	The following table presents lease balances and their classification on the Consolidated Balance Sheets as of December 31: millions Balance sheet classification 2021 2020 Assets: Operating Operating lease assets $ 726 $ 1,062 Finance Property, plant and equipment 581 365 Total lease assets $ 1,307 $ 1,427 Liabilities: Current Operating Current operating lease liabilities $ 186 $ 473 Finance Current maturities of long-term debt 85 42 Non-current Operating Deferred credits and other liabilities - Operating lease liabilities 585 641 Finance Long-term debt, net 504 316 Total lease liabilities $ 1,360 $ 1,472
Schedule of operating lease maturities	As of December 31, 2021, Occidental will make the following lease payments: millions Operating Leases (a) Finance Leases (b) Total 2022 $ 183 $ 85 $ 268 2023 128 84 212 2024 99 82 181 2025 78 68 146 2026 94 57 151 Thereafter 302 300 602 Total lease payments 884 676 1,560 Less: Interest (113) (87) (200) Total lease liabilities $ 771 $ 589 $ 1,360 (a) The weighted-average remaining lease term is 7.3 years and the weighted-average discount rate is 3.40%. (b) The weighted-average remaining lease term is 9.2 years and the weighted-average discount rate is 2.91%.
Schedule of finance lease maturities	As of December 31, 2021, Occidental will make the following lease payments: millions Operating Leases (a) Finance Leases (b) Total 2022 $ 183 $ 85 $ 268 2023 128 84 212 2024 99 82 181 2025 78 68 146 2026 94 57 151 Thereafter 302 300 602 Total lease payments 884 676 1,560 Less: Interest (113) (87) (200) Total lease liabilities $ 771 $ 589 $ 1,360 (a) The weighted-average remaining lease term is 7.3 years and the weighted-average discount rate is 3.40%. (b) The weighted-average remaining lease term is 9.2 years and the weighted-average discount rate is 2.91%.
Schedule of lease costs	The following tables present Occidental’s total lease cost classifications and cash paid for operating and finance lease liabilities for the years ended December 31: millions Lease cost classification (a) 2021 2020 Operating lease costs (b) Property, plant and equipment, net $ 222 $ 197 Operating expense and cost of sales 487 557 Selling, general and administrative expenses 109 107 Finance lease cost Amortization of ROU assets 39 29 Interest on lease liabilities 13 14 Total lease cost $ 870 $ 904 (a) Amounts reflected are gross before joint-interest recoveries. Lease payments are reduced by joint-interest recoveries on the income statement through the joint-interest billing process. (b) Included short-term lease cost of $238 million and $207 million and variable lease cost of $120 million and $95 million for the years ended December 31, 2021 and 2020, respectively. millions 2021 2020 Operating cash flows $ 401 $ 506 Investing cash flows $ 73 $ 89 Financing cash flows $ 39 $ 29

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
DERIVATIVES (Tables)	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of derivative instruments	Occidental had the following outstanding interest rate swaps outstanding as of December 31, 2021: millions except percentages Mandatory Weighted-Average Notional Principal Amount Reference Period Termination Date Interest Rate $ 275 September 2016 - 2046 September 2022 6.709 % $ 450 September 2017 - 2047 September 2023 6.445 %
Summary of net sales related to the outstanding commodity derivative instruments	The following table summarizes net short volumes associated with the outstanding marketing commodity derivatives not designated as hedging instruments as of December 31: 2021 2020 Oil commodity contracts Volume (MMbbl) (28) (31) Natural gas commodity contracts Volume (Bcf) (136) (117)
Gross and net fair values of outstanding derivatives	The following table presents the fair values of Occidental’s outstanding derivatives. Fair values are presented at gross amounts below, including when derivatives are subject to netting arrangements, and are presented on a net basis in the Consolidated Balance Sheets. millions Fair Value Measurements Using Total Fair Value Balance Sheet Classification Level 1 Level 2 Level 3 Netting (a) December 31, 2021 Marketing Derivatives Other current assets $ 1,516 $ 173 $ — $ (1,645) $ 44 Long-term receivables and other assets, net 4 1 — (4) 1 Accrued liabilities (1,608) (196) — 1,645 (159) Deferred credits and other liabilities - other (4) — — 4 — Interest Rate Swaps Accrued liabilities — (315) — — (315) Deferred credits and other liabilities - other — (436) — — (436) December 31, 2020 Collars and Calls Other current assets $ — $ 25 $ — $ — $ 25 Deferred credits and other liabilities - other — (42) — — (42) Marketing Derivatives — Other current assets 1,155 80 — (1,204) 31 Long-term receivables and other assets, net 7 2 — (7) 2 Accrued liabilities (1,252) (81) — 1,204 (129) Deferred credits and other liabilities - other (7) — — 7 — Interest Rate Swaps — Accrued liabilities — (936) — — (936) Deferred credits and other liabilities - other — (822) — — (822) (a) These amounts do not include collateral. As of December 31, 2021, and December 31, 2020, $323 million and $374 million of collateral related to interest rate swaps had been netted against derivative liabilities, respectively. Occidental netted $110 million and $85 million of collateral deposited with brokers against derivative liabilities related to marketing derivatives as of December 31, 2021 and December 31, 2020, respectively.
Schedule of gains and losses on derivatives	The following table presents gains and (losses) related to Occidental’s derivative instruments in the consolidated condensed statements of operations for the years ended December 31: millions Income Statement Classification 2021 2020 2019 Collars and Calls Net sales $ (344) $ 1,064 $ (107) Marketing Derivatives Net sales (a) 338 (393) 1,804 Interest Rate Swaps (Excluding WES) Gains (losses) on interest rate swaps and warrants, net 122 (428) 122 Other (b) Gains on interest rate swaps and warrants, net — 5 111 (a) Includes derivative and non-derivative marketing activity.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Significant impairment and other charges measured on nonrecurring basis	The table below summarizes the significant impairments and other charges incurred to measure assets to their fair value on a nonrecurring basis throughout the year ended December 31, 2020: millions Total Fair Value Asset impairments and other charges Goodwill $ 1,153 Oil and gas properties - proved $ 2,436 Oil and gas properties - unproved $ 4,591 Oil and gas properties - discontinued operations $ 2,191 WES equity investment $ 2,673

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of domestic and foreign components of income (loss) from continuing operations before domestic and foreign income taxes	The following summarizes domestic and foreign components of income (loss) from continuing operations before domestic and foreign income taxes for the years ended December 31: millions 2021 2020 2019 Domestic $ 1,966 $ (15,322) $ (1,632) Foreign 1,739 (383) 1,986 Total $ 3,705 $ (15,705) $ 354
Schedule of provisions (credits) for domestic and foreign income taxes on continuing operations	The following summarizes components of income tax expense (benefit) on continuing operations for the years ended December 31: millions 2021 2020 2019 Current Federal $ 173 $ (126) $ 33 State and Local 36 6 46 Foreign 660 465 1,809 Total current tax expense $ 869 $ 345 $ 1,888 Deferred Federal 191 (2,384) (130) State and Local (153) (103) 17 Foreign 8 (30) (914) Total deferred tax expense (benefit) $ 46 $ (2,517) $ (1,027) Total income tax expense (benefit) $ 915 $ (2,172) $ 861
Schedule of reconciliation of the United States federal statutory income tax rate to Occidental's worldwide effective tax rate on income from continuing operations stated as a percentage of pre-tax income	The following reconciliation of the U.S federal statutory income tax rate to Occidental’s worldwide effective tax rate on income from continuing operations for the years ended December 31 is stated as a percentage of income (loss) from continuing operations before income taxes: 2021 2020 2019 U.S. federal statutory tax rate 21 % 21 % 21 % Enhanced oil recovery credit and other general business credits (3) — (2) Goodwill impairment — (3) — Capital loss (2) — — Tax impact from foreign operations 8 (4) 135 State income taxes, net of federal benefit (2) — 14 Uncertain tax positions — — 7 Transaction costs — — 10 Non-controlling interest — — (8) Executive compensation limitation 1 — 12 Stock warrants — — (5) WES loss of control — — 58 Other 2 — 1 Worldwide effective tax rate 25 % 14 % 243 %
Schedule of tax effects of temporary differences resulting in deferred income taxes	The tax effects of temporary differences resulting in deferred income taxes as of December 31: millions 2021 2020 Deferred tax liabilities Property, plant and equipment differences $ (9,905) $ (10,744) Equity investments, partnerships and international subsidiaries (571) (658) Gross long-term deferred tax liabilities (10,476) (11,402) Deferred tax assets Environmental reserves 242 257 Postretirement benefit accruals 285 398 Deferred compensation and benefits 286 186 Asset retirement obligations 850 942 Foreign tax credit carryforwards 3,904 4,465 General business credit carryforwards 698 607 Net operating loss carryforward 1,628 1,797 Interest expense carryforward 28 668 All other 689 720 Gross long-term deferred tax assets 8,610 10,040 Valuation allowance (5,136) (5,695) Net long-term deferred tax assets $ 3,474 $ 4,345 Total deferred income tax liability, net $ (7,002) $ (7,057) Less: foreign deferred tax asset in long-term receivables and other assets, net (37) (56) Total deferred income tax liability, gross $ (7,039) $ (7,113)
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: millions 2021 2020 2019 Balance as of January 1 $ 2,045 $ 2,173 $ — Increase related to Anadarko Acquisition — — 2,143 Increases related to prior-year positions 75 14 30 Settlements (80) (42) — Reductions for tax positions of prior years (14) (100) — Balance as of December 31 $ 2,026 $ 2,045 $ 2,173

RETIREMENT AND POSTRETIREMENT_2

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS (Tables)	12 Months Ended
RETIREMENT AND POSTRETIREMENT BENEFIT PLANS (Tables)	Dec. 31, 2021
Retirement Benefits [Abstract]
Components of amounts recognized in the consolidated balance sheets	The following tables show the amounts recognized in Occidental’s consolidated balance sheets related to its pension and postretirement benefit plans as of December 31: Pension Benefits Postretirement Benefits millions 2021 2020 2021 2020 Amounts recognized in the consolidated balance sheet: Long-term receivables and other assets, net $ 192 $ 167 $ — $ — Accrued liabilities (4) (9) (71) (74) Deferred credits and other liabilities — pension and postretirement obligations (391) (578) (1,149) (1,185) $ (203) $ (420) $ (1,220) $ (1,259) Accumulated other comprehensive loss included the following after-tax balances: Net (gain) loss $ (17) $ (3) $ 163 $ 226 Prior service credit — — (50) (60) $ (17) $ (3) $ 113 $ 166
Funding status of Occidental's plans	The following tables show the funding status, obligations and plan asset fair values of Occidental related to its pension and postretirement benefit plans for the years ended December 31: Pension Benefits Postretirement Benefits millions 2021 2020 2021 2020 Changes in the benefit obligation: Benefit obligation — beginning of year $ 1,613 $ 2,508 $ 1,259 $ 1,175 Service cost — benefits earned during the period 8 37 42 39 Interest cost on projected benefit obligation 35 52 33 37 Actuarial (gain) loss (55) 251 (54) 73 Curtailment (gain) loss — (278) — 2 Special termination benefits — 23 — — Benefits paid (219) (948) (67) (73) Sale of Colombia assets — (24) — — Settlement due to annuity purchase (109) — — — Other — (8) 7 6 Benefit obligation — end of year $ 1,273 $ 1,613 $ 1,220 $ 1,259 Changes in plan assets: Fair value of plan assets — beginning of year $ 1,193 $ 1,841 $ — $ — Actual return on plan assets 44 161 — — Employer contributions 162 146 59 67 Benefits paid (219) (948) (67) (73) Payments due to annuity purchase (109) — — — Other (1) (7) 8 6 Fair value of plan assets — end of year $ 1,070 $ 1,193 $ — $ — Unfunded status: $ (203) $ (420) $ (1,220) $ (1,259)
Schedule of projected benefit obligation, accumulated benefit obligation and fair value of plan assets for defined benefit pension plans with an accumulated benefit obligation in excess of plan assets and plan assets in excess of the accumulated benefit obligation	The following table sets forth details of the obligations and assets of Occidental’s defined benefit pension plans for the years ended December 31: Accumulated Benefit Plan Assets in millions 2021 2020 2021 2020 Projected benefit obligation $ 963 $ 1,226 $ 310 $ 387 Accumulated benefit obligation $ 960 $ 1,221 $ 308 $ 379 Fair value of plan assets $ 656 $ 670 $ 414 $ 523
Components of the net periodic benefit costs	The following table sets forth the components of net periodic benefit costs for the years ended December 31: Pension Benefits Postretirement Benefits millions 2021 2020 2019 2021 2020 2019 Net periodic benefit costs: Service cost — benefits earned during the period $ 8 $ 37 $ 47 $ 42 $ 39 $ 24 Interest cost on projected benefit obligation 35 52 40 33 37 36 Expected return on plan assets (59) (73) (52) — — — Recognized actuarial loss 2 5 9 15 11 8 Recognized prior service credit — — — (9) (8) (8) (Gain) loss due to curtailment — (124) (91) — 2 6 Gain due to settlement (19) (19) — — — — Special termination benefits — 22 49 — — — Other costs and adjustments — 1 (2) — — — Net periodic benefit cost $ (33) $ (99) $ — $ 81 $ 81 $ 66
Weighted-average assumptions used to determine Occidental's benefit obligation and net periodic benefit cost for domestic plans	The following table sets forth the weighted-average assumptions used to determine Occidental’s benefit obligation and net periodic benefit cost for domestic plans for the years ended December 31: Pension Benefits Postretirement Benefits 2021 2020 2021 2020 Benefit Obligation Assumptions: Discount rate 2.67 % 2.19 % 2.94 % 3.05 % Rate of increase in compensation levels 3.98 % 5.07 % — — Net Periodic Benefit Cost Assumptions: Discount rate 2.19 % 3.04 % 3.05 % 3.26 % Rate of increase in compensation levels 5.07 % 5.34 % — — Assumed long-term rate of return on assets 4.92 % 6.02 % — —
Fair values of Occidental's pension plan assets by asset category	The fair values of Occidental’s pension plan assets by asset category were as follows: millions Level 1 Level 2 Level 3 Total December 31, 2021 Asset Class: Cash and cash equivalents $ 19 $ — $ — $ 19 Government securities 63 — — 63 Corporate bonds (a) — 36 — 36 Equity securities (b) 46 — — 46 Other — 76 — 76 Investments measured at fair value $ 128 $ 112 $ — $ 240 Investments measured at net asset value (c) — — — 836 Total pension plan assets (d) $ 128 $ 112 $ — $ 1,076 December 31, 2020 Asset Class: Cash and cash equivalents $ 38 $ — $ — $ 38 Government securities 65 — — 65 Corporate bonds (a) — 39 — 39 Equity securities (b) 138 — — 138 Other — 55 — 55 Investments measured at fair value $ 241 $ 94 $ — $ 335 Investments measured at net asset value (c) — — — 861 Total pension plan assets (d) $ 241 $ 94 $ — $ 1,196 (a) This category represents investment grade bonds of U.S. and non-U.S. issuers from diverse industries. (b) This category represents direct investments in mutual funds and common and preferred stocks from diverse U.S. and non-U.S. industries. (c) Certain investments measured at fair value using the NAV per share (or its equivalent) have not been categorized in the fair value hierarchy. Amounts presented in this table are intended to reconcile the fair value hierarchy to the pension plan assets. (d) Amounts exclude net payables of approximately $6 million as of December 31, 2021 and $3 million as of December 31, 2020.
Estimated future benefit payments, which reflect expected future service, as appropriate	Estimated future benefit payments, which reflect expected future service, as appropriate, are as follows for the years ended December 31: millions Pension Benefits Postretirement Benefits 2022 $ 130 $ 72 2023 73 70 2024 77 68 2025 71 66 2026 68 64 2027 - 2031 318 306

ENVIRONMENTAL LIABILITIES AND_2

ENVIRONMENTAL LIABILITIES AND EXPENDITURES (Tables)	12 Months Ended
ENVIRONMENTAL LIABILITIES AND EXPENDITURES (Tables)	Dec. 31, 2021
Environmental Remediation Obligations [Abstract]
Schedule of current and non-current environmental remediation reserves by categories of sites	2021 2020 millions, except number of sites Number of Sites Remediation Balance Number of Sites Remediation Balance NPL sites 30 $ 427 35 $ 447 Third-party sites 69 273 69 293 Occidental-operated sites 15 122 17 144 Closed or non-operated Occidental sites 51 277 49 267 Total 165 $ 1,099 170 $ 1,151

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
STOCKHOLDERS' EQUITY (Tables)	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Summary of common stock issuances	The following is a summary of common stock issuances: Shares in thousands Common Stock Balance, December 31, 2018 895,116 Issued 3,188 Issued as part of the Acquisition (a) 146,131 Balance, December 31, 2019 1,044,435 Issued 36,130 Balance, December 31, 2020 1,080,565 Issued 2,522 Options exercised and other, net 336 Balance, December 31, 2021 1,083,423
Calculation of basic and diluted EPS	The following table presents the calculation of basic and diluted EPS for the years ended December 31: millions except per share amounts 2021 2020 2019 Income (loss) from continuing operations $ 2,790 $ (13,533) $ (507) Loss from discontinued operations (468) (1,298) (15) Net income (loss) $ 2,322 $ (14,831) $ (522) Less: Net income attributable to noncontrolling interest — — (145) Less: Preferred stock dividends (800) (844) (318) Net income (loss) attributable to common stock $ 1,522 $ (15,675) $ (985) Less: Net income allocated to participating securities (10) — — Net income (loss), net of participating securities $ 1,512 $ (15,675) $ (985) Weighted-average number of basic shares 935.0 918.7 809.5 Basic earnings (loss) per common share $ 1.62 $ (17.06) $ (1.22) Net income (loss), net of participating securities $ 1,512 $ (15,675) $ (985) Weighted-average number of basic shares 935.0 918.7 809.5 Dilutive securities 23.8 — — Total diluted weighted-average common shares 958.8 918.7 809.5 Diluted earnings (loss) per common share $ 1.58 $ (17.06) $ (1.22)
Components of accumulated other comprehensive income (loss)	Accumulated OCI (loss) consisted of the following after-tax amounts as of December 31: millions 2021 2020 Foreign currency translation adjustments $ (8) $ (6) Losses on derivatives (104) (119) Pension and postretirement adjustments (a) (96) (163) Total $ (208) $ (288) (a) See Note 11 - Retirement and Postretirement Benefit Plans for further information.

STOCK-BASED INCENTIVE PLANS (Ta

STOCK-BASED INCENTIVE PLANS (Tables)	12 Months Ended
STOCK-BASED INCENTIVE PLANS (Tables)	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Summary of changes in Occidental's unvested cash- and stock- settled RSUs	A summary of changes in Occidental’s unvested cash- and stock-settled RSUs during the year ended December 31, 2021, is presented below: Cash-Settled Stock-Settled thousands, except fair values RSUs Weighted-Average RSUs Weighted-Average Unvested as of January 1 5,457 $ 42.41 5,856 $ 50.21 Granted 190 $ 25.83 5,773 $ 25.45 Vested (a) (166) $ 56.36 (2,750) $ 53.27 Forfeitures (106) $ 40.08 (290) $ 35.07 Unvested as of December 31 5,375 $ 41.44 8,589 $ 33.10 (a) Presented at the target payouts. Stock-settled RSU weighted-average payout at vesting was 95% of the target, resulting in the issuance of approximately 2,605,000 shares of Occidental common stock. Cash-settled RSUs do not have performance criteria.
Grant-date assumptions used in the Monte Carlo simulation models for the estimated payout level of TSRIs	The grant-date assumptions used in the Monte Carlo simulation models for the estimated payout level of TSRIs were as follows: TSRIs 2021 2020 2019 Assumptions used: Risk-free interest rate 0.2% 1.4% 2.5% Volatility factor 75% 26% 22% Expected life (years) 2.88 3 3 Grant-date fair value of underlying Occidental common stock $ 25.39 $ 41.60 $ 67.19
Summary of the changes of awards	A summary of changes in Occidental’s unvested TSRIs during the year ended December 31, 2021 is presented below: TSRIs thousands, except fair values Awards Weighted-Average Unvested as of January 1 1,534 $ 58.02 Granted 665 $ 25.39 Vested (a) (420) $ 69.87 Forfeitures (10) $ 25.39 Unvested as of December 31 1,769 $ 43.12 (a) Presented at the target payouts. The weighted-average payout at vesting was 34% of the target, resulting in the issuance of approximately 145,000 shares of Occidental common stock. CROCEI thousands, except fair values Awards Weighted-Average Unvested as of January 1 197 $ 41.60 Granted 221 $ 25.39 Unvested as of December 31 418 $ 33.03
Summary of stock options	The inputs to this model are presented below: Options 2021 Assumptions used: Risk-free interest rate 0.7% Volatility factor 55% Expected life (years) 6.00 Dividend yield 0.16% Grant-date fair value of underlying Occidental common stock $ 25.39 A summary of Occidental’s outstanding stock options as of December 31, 2021 and changes during the year ended December 31, 2021 is presented below: Vested Unvested thousands, except fair values Options Weighted Average Strike Price Options Weighted Average Strike Price January 1 1,326 $ 55.38 1,900 $ 40.03 Granted — $ — 440 $ 25.39 Vested 910 $ 40.03 (910) $ 40.03 December 31 2,236 $ 49.13 1,430 $ 35.52

INDUSTRY SEGMENTS AND GEOGRAP_2

INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS (Tables)	12 Months Ended
INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS (Tables)	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of industry segments	Oil and gas Chemical Midstream and marketing Corporate Total Year ended December 31, 2021 Net sales $ 18,941 $ 5,246 $ 2,863 $ (1,094) $ 25,956 Income (loss) from continuing operations before income taxes $ 4,145 (a) $ 1,544 $ 257 (b) $ (2,241) (c) $ 3,705 Income tax expense — — — (915) (d) (915) Income (loss) from continuing operations $ 4,145 $ 1,544 $ 257 $ (3,156) $ 2,790 Investments in unconsolidated entities $ 154 $ 608 $ 2,176 $ — $ 2,938 Property, plant and equipment additions (e) $ 2,458 $ 316 $ 107 $ 50 $ 2,931 Depreciation, depletion and amortization $ 7,741 $ 343 $ 325 $ 38 $ 8,447 Total assets $ 56,132 $ 4,671 $ 11,132 $ 3,101 $ 75,036 Year ended December 31, 2020 Net sales $ 13,066 $ 3,733 $ 1,768 $ (758) $ 17,809 Income (loss) from continuing operations before income taxes $ (9,632) (a) $ 664 $ (4,175) (b) $ (2,562) (c) $ (15,705) Income tax benefit — — — 2,172 (d) 2,172 Income (loss) from continuing operations $ (9,632) $ 664 $ (4,175) $ (390) $ (13,533) Investments in unconsolidated entities $ 168 $ 645 $ 2,437 $ — $ 3,250 Property, plant and equipment additions (e) $ 2,279 $ 261 $ 50 $ 29 $ 2,619 Depreciation, depletion and amortization $ 7,414 $ 356 $ 312 $ 15 $ 8,097 Total assets $ 62,931 $ 4,326 $ 9,856 $ 2,951 $ 80,064 Year ended December 31, 2019 Net sales $ 13,941 $ 4,102 $ 4,132 $ (1,264) $ 20,911 Income (loss) from continuing operations before income taxes $ 2,520 (a) $ 799 $ 241 (b) $ (3,206) (c) $ 354 Income tax expense — — — (861) (d) (861) Income (loss) from continuing operations $ 2,520 $ 799 $ 241 $ (4,067) $ (507) Investments in unconsolidated entities $ 181 $ 689 $ 5,519 $ — $ 6,389 Property, plant and equipment additions (e) $ 5,571 $ 272 $ 475 $ 135 $ 6,453 Depreciation, depletion and amortization $ 5,153 $ 368 $ 563 $ 56 $ 6,140 Total assets $ 80,093 $ 4,361 $ 14,915 $ 7,821 $ 107,190 (a) The 2021 amount included $282 million of asset impairments and $280 million of net oil, gas and CO 2 derivative losses. The 2020 amount included $7.1 billion related to asset impairments and net asset sale losses of $1.6 billion, partially offset by a $1.1 billion gain on the oil and gas collars and calls. The 2019 amount included a net gain on sale of $475 million related to Occidental’s joint venture with Ecopetrol in the Midland Basin and sale of real estate assets, a $285 million impairment charge associated with domestic undeveloped leases that were set to expire in the near-term, where Occidental had no plans to pursue exploration activities and a $39 million charge related to Occidental’s mutually agreed early termination of its Qatar ISSD contract. (b) The 2021 amount included $252 million in derivative mark-to-market losses and $124 million of gains on sales, primarily from the sale of 11.5 million limit partner units in WES. The 2020 amount included $2.7 billion of other-than-temporary impairment of WES equity investment and $1.4 billion of impairments related to the write-off of goodwill and a $236 million loss from an equity investment related to WES' write-off of its goodwill. The 2019 amount included a $1 billion charge as a result of recording Occidental’s investment in WES at fair value as of December 31, 2019 upon the loss of control, a $114 million gain on the sale of an equity investment in Plains and a $30 million mark-to-market gain on an interest rate swap for WES. (c) The 2021 amount included $153 million of Anadarko acquisition-related costs, $122 million net derivative mark-to-market gains on interest rate swaps and $118 million of early debt extinguishment expenses. The 2020 amount included $339 million in expenses related to Anadarko Acquisition-related costs and a $428 million loss on interest rate swaps. The 2019 amount included corporate transactions related to the Acquisition including charges of $1.0 billion related to employee severance and related costs, $401 million related to crucial seismic data and $213 million for bank, legal and consulting fees. The tax effect of these pre-tax adjustments was a $0.2 billion benefit in 2021, a $1.9 billion benefit in 2020, and a $245 million benefit in 2019. (d) Included all foreign and domestic income taxes from continuing operations. (e) Included capital expenditures and capitalized interest, but excluded acquisition and disposition of assets.
Net sales and property, plant and equipment, net by geographic areas	millions Property, plant and equipment, net For the years ended December 31, 2021 2020 2019 United States $ 53,197 $ 59,016 $ 72,808 International UAE 3,645 3,737 3,886 Oman 2,055 1,901 2,115 Algeria 496 664 1,761 Colombia — — 1,010 Qatar 468 510 563 Other International 69 61 87 Total International 6,733 6,873 9,422 Total $ 59,930 $ 65,889 $ 82,230

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - NARRATIVE (Details) $ in Millions	Aug. 08, 2019	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Oct. 31, 2021USD ($)	Jan. 31, 2020USD ($)	Sep. 30, 2019USD ($)
Summary of Significant Accounting Policies [Line Items]
Number of reportable segments \| segment				3
Equity method investment amounts				$ 2,938	$ 3,250
Assets				75,036	80,064	$ 107,190
Net sales				25,959	17,130	19,192
Trade receivables, net				4,208	2,115
Net capitalized costs attributable to unproved properties				14,800	18,600
Impairment and related charges		$ 8,600				285
Accrued liabilities for accrued payroll, commissions and related expenses				677	461
Dividends payable				188	189
Derivative financial instruments, included in accrued liabilities - current				$ 200	1,100
Minimum period of investigations and cleanup for Comprehensive Environmental Response, Compensation and Liability Act National Priorities List sites				10 years
Oil and gas
Summary of Significant Accounting Policies [Line Items]
Net sales				$ 19,285	11,995	14,048
Impairment and related charges		6,400	$ 581
Low end of range \| Chemical
Summary of Significant Accounting Policies [Line Items]
The estimated useful lives of Occidental's chemical assets				3 years
High end of range \| Chemical
Summary of Significant Accounting Policies [Line Items]
The estimated useful lives of Occidental's chemical assets				50 years
Outside North America
Summary of Significant Accounting Policies [Line Items]
Assets				$ 7,700
Net sales				4,200
Proved and unproved non-core Permian \| Oil and gas
Summary of Significant Accounting Policies [Line Items]
Impairment and related charges				282	7,000
Qatar ISSD
Summary of Significant Accounting Policies [Line Items]
Impairment and related charges						$ 39
Ghana Assets
Summary of Significant Accounting Policies [Line Items]
Impairment and related charges					2,200
Disposed of by sale \| Mozambique LNG Assets
Summary of Significant Accounting Policies [Line Items]
Sale consideration									$ 4,200
Disposed of by sale \| South Africa Assets
Summary of Significant Accounting Policies [Line Items]
Sale consideration								$ 100
Disposed of by sale \| Ghana Operations
Summary of Significant Accounting Policies [Line Items]
Sale consideration							$ 750
Discontinued Operations, Held-for-sale \| Ghana Operations
Summary of Significant Accounting Policies [Line Items]
Sale consideration							$ 750
Discontinued Operations, Held-for-sale \| Ghana Assets
Summary of Significant Accounting Policies [Line Items]
Impairment and related charges		$ 2,200
WES
Summary of Significant Accounting Policies [Line Items]
Equity method investment amounts				2,000
Impairment and related charges			$ 1,200
Goodwill derecognized					$ 1,200
WES Operating \| WES
Summary of Significant Accounting Policies [Line Items]
Limited partner interest	98.00%
WES
Summary of Significant Accounting Policies [Line Items]
Pro-rata interest in net assets				$ 362
Non-voting general partner interest				2.20%
Limited partner interest				49.70%
Non-voting limited partner interest				2.00%
Effective economic interest				51.80%

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Capitalized exploratory well costs for continuing operations
Balance — beginning of year	$ 211	$ 424	$ 112
Exploratory well costs acquired through the Acquisition	0	0	231
Additions to capitalized exploratory well costs pending the determination of proved reserves	163	122	383
Reclassifications to property, plant and equipment based on the determination of proved reserves	(67)	(309)	(230)
Capitalized exploratory well costs charged to expense	(94)	(26)	(72)
Balance — end of year	$ 213	$ 211	$ 424

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - ASSET RETIREMENT OBLIGATIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Asset retirement obligation
Beginning balance	$ 4,130	$ 4,659
Liabilities incurred – capitalized to PP&E	27	79
Liabilities settled and paid	(174)	(186)
Accretion expense	205	147
Acquisitions, divestitures and other, net	(53)	(294)
Revisions to previous estimates	(109)	(275)
Ending balance	4,026	4,130
Asset retirement obligations, current balance included in accrued liabilities	$ 339	$ 153

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Summary of Significant Accounting Policies [Line Items]
Interest paid	$ 1,685	$ 1,521	$ 912
Capitalized interest	61	84	89
Continuing operations
Summary of Significant Accounting Policies [Line Items]
Income tax payments	763	498	1,944
Income tax refunds received	70	223	80
Production, property and other tax payments	$ 790	$ 629	$ 724

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CASH EQUIVALENTS AND RESTRICTED CASH EQUIVALENTS (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 2,764	$ 2,008
Restricted cash and restricted cash equivalents	24	170
Restricted cash and restricted cash equivalents included in long-term receivables and other assets, net	15	16
Cash, cash equivalents, restricted cash and restricted cash equivalents	$ 2,803	$ 2,194	$ 3,574	$ 3,033

REVENUE - NARRATIVE (Details)

REVENUE - NARRATIVE (Details)	12 Months Ended
REVENUE - NARRATIVE (Details)	Dec. 31, 2021
Low end of range
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract term	1 month
High end of range
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract term	1 year

REVENUE - RECONCILIATION (Detai

REVENUE - RECONCILIATION (Details) - USD ($) $ in Millions	12 Months Ended
REVENUE - RECONCILIATION (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue from contracts with customers	$ 25,959	$ 17,130	$ 19,192
All other revenue	(3)	679	1,719
Net sales	$ 25,956	$ 17,809	$ 20,911

REVENUE - DISAGGREGATION OF REV

REVENUE - DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 25,959	$ 17,130	$ 19,192
United States
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	22,787	14,167	15,327
International
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4,266	3,721	5,129
Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	(1,094)	(758)	(1,264)
Oil and gas
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	19,285	11,995	14,048
Oil and gas \| Oil
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	14,916	9,888	12,350
Oil and gas \| NGL
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,528	1,055	941
Oil and gas \| Gas
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,815	986	763
Oil and gas \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	26	66	(6)
Oil and gas \| United States
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	15,823	9,048	9,492
Oil and gas \| United States \| Oil
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	12,072	7,485	8,411
Oil and gas \| United States \| NGL
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,203	838	658
Oil and gas \| United States \| Gas
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,524	660	424
Oil and gas \| United States \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	24	65	(1)
Oil and gas \| International
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3,462	2,947	4,556
Oil and gas \| International \| Oil
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,844	2,403	3,939
Oil and gas \| International \| NGL
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	325	217	283
Oil and gas \| International \| Gas
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	291	326	339
Oil and gas \| International \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2	1	(5)
Oil and gas \| Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Oil and gas \| Eliminations \| Oil
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Oil and gas \| Eliminations \| NGL
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Oil and gas \| Eliminations \| Gas
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Oil and gas \| Eliminations \| Other
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Chemical
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	5,243	3,726	4,080
Chemical \| United States
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4,995	3,524	3,858
Chemical \| International
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	248	202	222
Chemical \| Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	0
Midstream and marketing
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,525	2,167	2,328
Midstream and marketing \| United States
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,969	1,595	1,977
Midstream and marketing \| International
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	556	572	351
Midstream and marketing \| Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 0	$ 0	$ 0

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 96	$ 70
Materials and supplies	783	848
Commodity inventory and finished goods	1,066	1,009
Inventories	1,945	1,927
Revaluation to LIFO	(99)	(29)
Total	$ 1,846	$ 1,898

INVESTMENTS AND RELATED-PARTY_3

INVESTMENTS AND RELATED-PARTY TRANSACTIONS (Details) - USD ($) shares in Millions, $ in Millions		1 Months Ended				3 Months Ended		9 Months Ended	12 Months Ended
		Dec. 31, 2021	Nov. 30, 2021	Mar. 31, 2021	Sep. 30, 2019	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity Method Investments
Equity method investment amounts		$ 2,938							$ 2,938	$ 3,250
Dividends received as return on investment									652	678	$ 422
Cumulative undistributed earnings		242							242	166
Excess of investments in equity investees over the underlying equity in net assets		667							667
Excess of investments in equity investees over the underlying equity in net assets, which represents goodwill		347							347
Equity-method investments financial information summarized by Income Statement line item
Revenues and other income									26,314	16,261	21,750
Costs and expenses									23,362	31,913	22,002
Net income									2,952	(15,652)	(252)
Equity-method investments financial information summarized by Balance Sheet line item
Current assets		10,211							10,211	8,819
Current liabilities		8,324							8,324	8,223
Long-term debt	[1]	29,431							29,431	35,745
Other non-current liabilities		16,954							16,954	17,523
Stockholders’ equity		20,327							20,327	18,573
RELATED-PARTY TRANSACTIONS
Sales									261	301	691
Purchases									773	1,112	463
Services									942	1,101	28
Advances and amounts due from related parties (c)		57							57	62	133
Amounts due to related parties		$ 280							$ 280	296	463
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| WES
Equity Method Investments
Number of shares sold (in shares)		2.5		11.5					14
Net proceeds from sale of equity investment		$ 50		$ 200					$ 250
Gain on sale				$ 102
Goodwill impairment loss							$ 1,200
Other-than-temporary impairment loss						$ 2,700
Equity Method Investment, Nonconsolidated Investee
Equity Method Investments
Equity method investment amounts		2,938							2,938
Equity-method investments financial information summarized by Income Statement line item
Revenues and other income									6,252	5,455	26,520
Costs and expenses									4,569	5,455	24,084
Net income									1,683	0	2,436
Equity-method investments financial information summarized by Balance Sheet line item
Current assets		3,387							3,387	1,419	1,130
Non-current assets		19,341							19,341	18,693	21,158
Current liabilities		1,976							1,976	1,549	785
Long-term debt		9,464							9,464	7,860	8,673
Other non-current liabilities		1,187							1,187	866	859
Stockholders’ equity		10,101							10,101	9,837	11,971
Anadarko Petroleum Corporation
Equity Method Investments
Equity method investment amounts		2,900							2,900
WES
Equity Method Investments
Equity method investment amounts		2,000							$ 2,000
Goodwill impairment loss										$ 1,200
Other-than-temporary impairment loss								$ 2,700
RELATED-PARTY TRANSACTIONS
Sales to related party (as a percent)									58.00%	70.00%
Purchases from related party (as a percent)									27.00%	59.00%
WES \| Equity Method Investment, Nonconsolidated Investee
Equity Method Investments
Equity method investment amounts		$ 1,963							$ 1,963
Equity method investment ownership percentage		51.80%							51.80%
OxyChem Ingleside Facility \| Equity Method Investment, Nonconsolidated Investee
Equity Method Investments
Equity method investment amounts		$ 599							$ 599
Equity method investment ownership percentage		50.00%							50.00%
OLCV - Related \| Equity Method Investment, Nonconsolidated Investee
Equity Method Investments
Equity method investment amounts		$ 164							$ 164
Other \| Equity Method Investment, Nonconsolidated Investee
Equity Method Investments
Equity method investment amounts		212							212
Dolphin Energy Limited
Equity Method Investments
Equity method investment amounts		$ 217							$ 217
Equity method investment ownership percentage		24.50%							24.50%
Cash distributions			$ 560
Dividends received as return on investment			110
Excess distributions			$ 450
Carrying value of investment and excess distributions		$ 233							$ 233
Plains All American Pipeline, LP
Equity Method Investments
Net proceeds from sale of equity investment					$ 646
Equity-method investments financial information summarized by Balance Sheet line item
Investment gross revenue											$ 24,700
General Partner of Plains All American Pipeline, L.P
RELATED-PARTY TRANSACTIONS
Sales to related party (as a percent)											87.00%
Ingleside Ethylene LLC
RELATED-PARTY TRANSACTIONS
Purchases from related party (as a percent)									70.00%	41.00%	98.00%

[1]	Included $504 million and $316 million of finance lease liabilities as of December 31, 2021, and 2020, respectively.

ACQUISITIONS, DIVESTITURES AN_3

ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS - NARRATIVE (Details) ft² in Thousands, shares in Millions, a in Millions, $ in Millions

1 Months Ended

2 Months Ended

5 Months Ended

9 Months Ended

12 Months Ended

Jan. 31, 2022USD ($)

Dec. 31, 2021USD ($)shares

Nov. 30, 2021USD ($)

Oct. 31, 2021USD ($)

Jul. 31, 2021USD ($)

Mar. 31, 2021USD ($)shares

Dec. 31, 2020USD ($)

Oct. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Nov. 30, 2019USD ($)ft²

Sep. 30, 2019USD ($)

Aug. 31, 2019USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Sep. 30, 2021USD ($)

Dec. 31, 2021USD ($)shares

Aug. 31, 2020USD ($)a

Asset Acquisition, Disposition and Other Transactions [Line Items]

Proceeds from real estate assets disposed

$ 565

Finance lease

$ 589

Permian EOR Business Unit

Asset Acquisition, Disposition and Other Transactions [Line Items]

Net purchase price

$ 285

Anadarko Petroleum Corporation

Asset Acquisition, Disposition and Other Transactions [Line Items]

Net purchase price

$ 35,700

Revenues from date of the acquisition

$ 4,200

Net loss attributable to common shareholders from date of merger

$ 1,700

Ecopetrol Joint Venture

Asset Acquisition, Disposition and Other Transactions [Line Items]

Area of development in joint venture | ft²

Ownership percentage in joint venture

51.00%

Plains All American Pipeline, LP

Asset Acquisition, Disposition and Other Transactions [Line Items]

Net proceeds from sale of equity investment

$ 646

Pre-tax gain on sale of equity investment

$ 114

Ecopetrol | Ecopetrol Joint Venture

Asset Acquisition, Disposition and Other Transactions [Line Items]

Amount due at closing

$ 750

Carried capital

$ 750

Minority interest in new venture

49.00%

Gain on sale

$ 563

Percentage share of capital expenditures

75.00%

Share of capital expenditures (up to)

$ 750

Failed Sale-Leaseback

Asset Acquisition, Disposition and Other Transactions [Line Items]

Lease term

13 years

Finance lease

$ 300

Disposed of by Sale | Oil and Gas Columbia Assets

Asset Acquisition, Disposition and Other Transactions [Line Items]

Gain (loss) on sale

$ (353)

Disposed of by Sale | Non-core Permian acreage

Asset Acquisition, Disposition and Other Transactions [Line Items]

Gain (loss) on sale

$ (820)

Disposed of by Sale | Wyoming, Colorado, and Utah Assets

Asset Acquisition, Disposition and Other Transactions [Line Items]

Proceeds received for divested assets

$ 1,000

Gain (loss) on sale

(440)

Area of land sold (in acres) | a

4.5

Area of fee surface acres (in acres) | a

Sale consideration

$ 1,330

Liabilities associated with sale

$ 329

Disposed of by Sale | Ghana Operations

Asset Acquisition, Disposition and Other Transactions [Line Items]

Proceeds received for divested assets

$ 555

Sale consideration

750

Settlement of certain tax claims related to historical operations in Ghana

170

Disposed of by Sale | Permian Basin

Asset Acquisition, Disposition and Other Transactions [Line Items]

Proceeds received for divested assets

$ 475

Disposed of by Sale | Permian Basin | Subsequent event

Asset Acquisition, Disposition and Other Transactions [Line Items]

Proceeds received for divested assets

$ 190

Disposed of by Sale | DJ Basin

Asset Acquisition, Disposition and Other Transactions [Line Items]

Proceeds received for divested assets

$ 280

Discontinued Operations, Held-for-Sale | Ghana Operations

Asset Acquisition, Disposition and Other Transactions [Line Items]

Sale consideration

$ 750

Discontinued Operations, Held-for-Sale | Permian Basin

Asset Acquisition, Disposition and Other Transactions [Line Items]

Disposals of property, plant and equipment, net

Asset retirement obligations

$ 7

Discontinued Operations | Ghana Operations

Asset Acquisition, Disposition and Other Transactions [Line Items]

After-tax loss contingency

$ (31)

$ (437)

Disposal Group, Disposed of by Sale, Not Discontinued Operations | WES

Asset Acquisition, Disposition and Other Transactions [Line Items]

Number of shares sold (in shares) | shares

2.5

11.5

Net proceeds from sale of equity investment

$ 50

$ 200

$ 250

ACQUISITIONS, DIVESTITURES AN_4

ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS - AQCUISITION-RELATED COSTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Total	$ 153	$ 339	$ 1,647
Anadarko Petroleum Corporation
Business Acquisition [Line Items]
Employee severance and related employee cost	117	314	1,033
IT costs	36	9	15
Licensing fees for critical seismic data	0	0	401
Bank, legal, consulting and other	0	16	198
Total	$ 153	$ 339	$ 1,647

ACQUISITIONS, DIVESTITURES AN_5

ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS - PRO FORMA INFORMATION (Details) - Anadarko Petroleum Corporation $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)$ / shares
Business Acquisition [Line Items]
Revenues	$ 28,723
Net loss attributable to common stockholders	$ (769)
Net loss attributable to common stockholders per share—basic (in dollars per share) \| $ / shares	$ (0.95)
Net loss attributable to common stockholders per share—diluted (in dollars per share) \| $ / shares	$ (0.95)
Net loss attributable to common stockholders excluding pro-forma results of WES	$ (1,100)

ACQUISITIONS, DIVESTITURES AN_6

ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS - SUMMARY OF REVENUES AND COSTS FROM DISCONTINUED OPERATIONS (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Costs and other deductions
Discontinued operations, net of tax		$ (468)	$ (1,298)	$ (15)
Ghana, Mozambique and South Africa Assets \| Disposed of by sale
Revenues and other income
Net sales	$ 221	458	419
Costs and other deductions
Oil and gas lease operating expense	45	71	117
Fair value adjustment on assets held for sale	85	409	2,263
Other	45	24	48
Total costs and other deductions	175	504	2,428
Income (loss) before income taxes	46	(46)	(2,009)
Income tax benefit (expense)	(61)	15	711
Discontinued operations, net of tax	$ (15)	$ (31)	$ (1,298)

ACQUISITIONS, DIVESTITURES AN_7

ACQUISITIONS, DIVESTITURES AND OTHER TRANSACTIONS - SUMMARY OF ASSETS HELD FOR SALE (Details) - Ghana, Mozambique and South Africa Assets - Discontinued Operations, Held-for-sale $ in Millions	Dec. 31, 2020USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Current assets	$ 37
Property, plant and equipment, net	1,364
Long-term receivables and other assets, net	32
Assets held for sale	1,433
Current liabilities	84
Long-term debt, net - finance leases	175
Deferred income taxes	328
Asset retirement obligations	166
Liabilities of assets held for sale	753
Net assets held for sale	$ 680

LONG-TERM DEBT - SCHEDULE (Deta

LONG-TERM DEBT - SCHEDULE (Details) - USD ($) $ in Millions		Oct. 20, 2021	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt, gross			$ 28,493	$ 35,235
Unamortized premium, net			670	748
Debt issuance costs			(135)	(156)
Net book value of debt			29,028	35,827
Long-term finance leases			504	316
Current finance leases			85	42
Total debt and finance leases			29,617	36,185
Less current maturities of financing leases			(85)	(42)
Less current maturities of long-term debt			(101)	(398)
Long-term debt, net	[1]		$ 29,431	$ 35,745
4.850% senior notes due 2021 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			4.85%	4.85%
Long-term debt, gross			$ 0	$ 147
2.600% senior notes due 2021 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			2.60%	2.60%
Long-term debt, gross			$ 0	$ 224
Variable rate bonds due 2021 \| Variable rate bonds
Debt Instrument [Line Items]
Debt instrument, variable rate				1.193%
Long-term debt, gross			$ 0	$ 27
2.700% senior notes due 2022 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			2.70%	2.70%
Long-term debt, gross			$ 0	$ 629
3.125% senior notes due 2022 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			3.125%	3.125%
Long-term debt, gross			$ 0	$ 276
2.600% senior notes due 2022 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			2.60%	2.60%
Long-term debt, gross			$ 101	$ 101
Variable rate bonds due 2022 \| Variable rate bonds
Debt Instrument [Line Items]
Debt instrument, variable rate				1.73%
Long-term debt, gross			$ 0	$ 1,052
2.700% senior notes due 2023 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			2.70%	2.70%
Long-term debt, gross			$ 442	$ 927
8.750% medium-term notes due 2023 \| Medium-term notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			8.75%	8.75%
Long-term debt, gross			$ 22	$ 22
2.900% senior notes due 2024 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			2.90%	2.90%
Long-term debt, gross			$ 949	$ 3,000
6.950% senior notes due 2024 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			6.95%	6.95%
Long-term debt, gross			$ 650	$ 650
3.450% senior notes due 2024 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			3.45%	3.45%
Long-term debt, gross			$ 127	$ 248
8.000% senior notes due 2025 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			8.00%	8.00%
Long-term debt, gross			$ 500	$ 500
5.875% senior notes due 2025 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			5.875%	5.875%
Long-term debt, gross			$ 900	$ 900
3.500% senior notes due 2025 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			3.50%	3.50%
Long-term debt, gross			$ 326	$ 750
5.500% senior notes due 2025 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			5.50%	5.50%
Long-term debt, gross			$ 750	$ 750
5.550% senior notes due 2026 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			5.55%	5.55%
Long-term debt, gross			$ 1,100	$ 1,100
3.200% senior notes due 2026 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			3.20%	3.20%
Long-term debt, gross			$ 797	$ 1,000
3.400% senior notes due 2026 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			3.40%	3.40%
Long-term debt, gross			$ 779	$ 1,150
7.500% debentures due 2026 \| Senior notes \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.50%
Repayments of long-term debt			$ 18
7.500% debentures due 2026 \| Debentures
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.50%	7.50%
Long-term debt, gross			$ 112	$ 112
8.500% senior notes due 2027 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			8.50%	8.50%
Long-term debt, gross			$ 500	$ 500
3.000% senior notes due 2027 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			3.00%	3.00%
Long-term debt, gross			$ 634	$ 750
7.125% debentures due 2027 \| Debentures
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.125%	7.125%
Long-term debt, gross			$ 150	$ 150
7.000% debentures due 2027 \| Debentures
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.00%	7.00%
Long-term debt, gross			$ 48	$ 48
6.625% debentures due 2028 \| Debentures
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			6.625%	6.625%
Long-term debt, gross			$ 14	$ 14
7.150% debentures due 2028 \| Debentures
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.15%	7.15%
Long-term debt, gross			$ 235	$ 235
7.200% senior debentures due 2028 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.20%	7.20%
Long-term debt, gross			$ 82	$ 82
6.375% senior notes due 2028 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			6.375%	6.375%
Long-term debt, gross			$ 600	$ 600
7.200% debentures due 2029 \| Debentures
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.20%	7.20%
Long-term debt, gross			$ 135	$ 135
7.950% debentures due 2029 \| Debentures
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.95%	7.95%
Long-term debt, gross			$ 116	$ 116
8.450% senior debentures due 2029 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			8.45%	8.45%
Long-term debt, gross			$ 116	$ 116
3.500% senior notes due 2029 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			3.50%	3.50%
Long-term debt, gross			$ 1,477	$ 1,500
Variable rate bonds due 2030 \| Variable rate bonds
Debt Instrument [Line Items]
Debt instrument, variable rate			0.90%	2.70%
Long-term debt, gross			$ 68	$ 68
8.875% senior notes due 2030 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			8.875%	8.875%
Long-term debt, gross			$ 1,000	$ 1,000
6.625% senior notes due 2030 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			6.625%	6.625%
Long-term debt, gross			$ 1,500	$ 1,500
6.125% senior notes due 2031 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			6.125%	6.125%
Long-term debt, gross			$ 1,250	$ 1,250
7.500% senior notes due 2031 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.50%	7.50%
Long-term debt, gross			$ 900	$ 900
7.875% senior notes due 2031 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.875%	7.875%
Long-term debt, gross			$ 500	$ 500
6.450% senior notes due 2036 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			6.45%	6.45%
Long-term debt, gross			$ 1,750	$ 1,750
Zero Coupon senior notes due 2036 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			5.24%
Long-term debt, gross			$ 2,269	$ 2,269
4.300% senior notes due 2039 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			4.30%	4.30%
Long-term debt, gross			$ 693	$ 750
7.950% senior notes due 2039 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.95%	7.95%
Long-term debt, gross			$ 325	$ 325
6.200% senior notes due 2040 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			6.20%	6.20%
Long-term debt, gross			$ 750	$ 750
4.500% senior notes due 2044 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			4.50%	4.50%
Long-term debt, gross			$ 608	$ 625
4.625% senior notes due 2045 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			4.625%	4.625%
Long-term debt, gross			$ 634	$ 750
6.600% senior notes due 2046 (a) \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			6.60%	6.60%
Long-term debt, gross			$ 1,157	$ 1,100
4.400% senior notes due 2046 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			4.40%	4.40%
Long-term debt, gross			$ 976	$ 1,200
4.100% senior notes due 2047 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			4.10%	4.10%
Long-term debt, gross			$ 663	$ 750
4.200% senior notes due 2048 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			4.20%	4.20%
Long-term debt, gross			$ 961	$ 1,000
4.400% senior notes due 2049 \| Senior notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			4.40%	4.40%
Long-term debt, gross			$ 704	$ 750
7.730% debentures due 2096 \| Senior notes \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.73%
Repayments of long-term debt			$ 3
7.730% debentures due 2096 \| Debentures
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.73%	7.73%
Long-term debt, gross			$ 58	$ 60
7.500% debentures due 2096 \| Debentures
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.50%	7.50%
Long-term debt, gross			$ 60	$ 78
7.250% debentures due 2096 \| Senior notes \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.25%
Repayments of long-term debt			$ 44
7.250% debentures due 2096 \| Debentures
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			7.25%	7.25%
Long-term debt, gross			$ 5	$ 49
6.600% senior notes due 2046 \| Senior notes \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		6.60%	6.60%
Proceeds from issuances		$ 57.2	$ 57
Debentures Due 2096 \| Senior notes \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Repayments of long-term debt		$ 64.8

[1]	Included $504 million and $316 million of finance lease liabilities as of December 31, 2021, and 2020, respectively.

LONG-TERM DEBT - NARRATIVE (Det

LONG-TERM DEBT - NARRATIVE (Details) - USD ($) shares in Millions	1 Months Ended		3 Months Ended				6 Months Ended	12 Months Ended
	Jan. 31, 2022	Aug. 31, 2020	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 30, 2021	Dec. 31, 2019
Principal payments on long-term debt
Aggregate future principal payments and carrying value			$ 28,493,000,000				$ 35,235,000,000	$ 28,493,000,000
Due next year			101,000,000					101,000,000
Due in two years			465,000,000					465,000,000
Due in three years			1,700,000,000					1,700,000,000
Due in four years			2,500,000,000					2,500,000,000
Due in five years and thereafter			23,700,000,000					23,700,000,000
Face value			$ 28,493,000,000				$ 35,235,000,000	$ 28,493,000,000		$ 37,401,000,000
Variable-rate debt as a percentage of total debt			0.20%				3.00%	0.20%
WES
Principal payments on long-term debt
Common units exchanged to retire note payable (in units)		27.9
Note payable retired		$ 260,000,000
Loss on exchange		46,000,000
Gain on debt extinguished		$ 76,000,000
Level 1 \| Fair Value
Principal payments on long-term debt
Estimated fair value of debt			$ 31,100,000,000				$ 33,800,000,000	$ 31,100,000,000
2-year variable rate term loan due 2021
Principal payments on long-term debt
Repayments of long-term debt							2,500,000,000
Senior notes
Principal payments on long-term debt
Face value							7,000,000,000
Senior notes \| Third quarter repayments
Principal payments on long-term debt
Cash tender				$ 3,000,000,000
Repayments of near-term maturities of debt				224,000,000
Repayments of floating interest rate notes				1,100,000,000
Senior notes \| First quarter repayments
Principal payments on long-term debt
Repayments of near-term maturities of debt						$ 174,000,000
Senior notes \| Second quarter repayments
Principal payments on long-term debt
Repayments of near-term maturities of debt					$ 0
Senior notes \| 2.600% senior notes due April 2022 \| Subsequent event
Principal payments on long-term debt
Repayments of long-term debt	$ 101,000,000
Debt instrument interest rate stated percentage	2.60%
Face value	$ 28,400,000,000
Senior notes \| Senior Notes Due from 2024 Through 2049 \| Fourth quarter issuances (repayments)
Principal payments on long-term debt
Repayments of long-term debt			1,600,000,000
Face value of debt tendered and repurchased			1,500,000,000					1,500,000,000
Senior notes \| 2.700% senior notes due 2022
Principal payments on long-term debt
Repayments of long-term debt							2,700,000,000
Senior notes \| 2.700% senior notes due 2022 \| Fourth quarter issuances (repayments)
Principal payments on long-term debt
Repayments of long-term debt			627,000,000
Senior notes \| 2.700% senior notes due 2022 \| Third quarter repayments
Principal payments on long-term debt
Repayments of long-term debt				$ 278,000,000
Debt instrument interest rate stated percentage				2.70%
Senior notes \| Senior Notes Due 2021
Principal payments on long-term debt
Repayments of long-term debt							3,500,000,000
Senior notes \| 2.700% senior notes due 2023
Principal payments on long-term debt
Repayments of long-term debt							264,000,000
Senior notes \| 2.700% senior notes due 2023 \| Third quarter repayments
Principal payments on long-term debt
Repayments of long-term debt				$ 484,000,000
Debt instrument interest rate stated percentage				2.70%
Senior notes \| 0.00% senior notes due October 2036
Principal payments on long-term debt
Repayments of long-term debt							2,000,000
Senior notes \| Zero Coupon senior notes due 2036
Principal payments on long-term debt
Aggregate future principal payments and carrying value			$ 2,269,000,000				$ 2,269,000,000	$ 2,269,000,000
Debt instrument interest rate stated percentage			5.24%					5.24%
Face value			$ 2,300,000,000					$ 2,300,000,000
Put in whole, amount			1,100,000,000					1,100,000,000
Line of credit \| Revolving credit racility
Principal payments on long-term debt
Revolving credit facility, maximum borrowing capacity			4,000,000,000					$ 4,000,000,000	$ 5,000,000,000
Average annual facility fees								0.302%
Line of credit \| Receivables securitization facility
Principal payments on long-term debt
Available borrowing capacity			$ 400,000,000					$ 400,000,000

LONG-TERM DEBT - DEBT ISSUANCE,

LONG-TERM DEBT - DEBT ISSUANCE, REPURCHASES, REPAYMENTS AND EXCHANGES (Details) - USD ($)	Oct. 20, 2021	Dec. 31, 2021	Sep. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2020
Long-term Debt Rollforward [Roll Forward]
Total borrowings at face value as of December 31, 2020				$ 35,235,000,000		$ 37,401,000,000
Total borrowings at face value as of December 31, 2021		$ 28,493,000,000			$ 35,235,000,000	35,235,000,000
Variable rate bonds due 2021 \| First quarter repayments
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments				(27,000,000)
Variable rate bonds due 2021 \| July tender and purchase
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						(473,000,000)
Variable rate bonds due 2021 \| August and September tender and purchase
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						(123,000,000)
Variable rate bonds due August 2022 \| August and September tender and purchase
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (448,000,000)
6.500% note payable to WES due 2038 \| August WES exchange \| WES
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					6.50%	6.50%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (260,000,000)
2-year variable rate term loan due 2021
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments					$ (2,500,000,000)
2-year variable rate term loan due 2021 \| September repayment
Debt Instrument [Line Items]
Debt instrument, term						2 years
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (500,000,000)
2-year variable rate bonds due August 2021 \| October repayment
Debt Instrument [Line Items]
Debt instrument, term						2 years
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (377,000,000)
2-year variable rate term loan due September 2021 \| October repayment
Debt Instrument [Line Items]
Debt instrument, term						2 years
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (1,010,000,000)
2-year variable rate term loan due September 2021 \| November repayment
Debt Instrument [Line Items]
Debt instrument, term						2 years
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (232,000,000)
2-year variable rate term loan due September 2021 \| December repayment
Debt Instrument [Line Items]
Debt instrument, term						2 years
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (214,000,000)
Senior notes
Long-term Debt Rollforward [Roll Forward]
Total borrowings at face value as of December 31, 2020				$ 7,000,000,000
Total borrowings at face value as of December 31, 2021					7,000,000,000	$ 7,000,000,000
Senior notes \| 4.850% senior notes due 2021 \| First quarter repayments
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage				4.85%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments				$ (147,000,000)
Senior notes \| 2.700% senior notes due 2022
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments					(2,700,000,000)
Senior notes \| 2.700% senior notes due 2022 \| Third quarter repayments
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			2.70%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments			$ (278,000,000)
Senior notes \| 2.700% senior notes due 2022 \| Fourth quarter issuances (repayments)
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (627,000,000)
Senior notes \| 2.700% senior notes due 2023
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments					$ (264,000,000)
Senior notes \| 2.700% senior notes due 2023 \| Third quarter repayments
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			2.70%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments			$ (484,000,000)
Senior notes \| 3.450% senior notes due 2024 \| Third quarter repayments
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			3.45%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments			$ (81,000,000)
Senior notes \| 3.450% senior notes due 2024 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		3.45%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (40,000,000)
Senior notes \| 2.900% senior notes due 2024 \| Third quarter repayments
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			2.90%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments			$ (1,620,000,000)
Senior notes \| 2.900% senior notes due 2024 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		2.90%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (431,000,000)
Senior notes \| 3.500% senior notes due 2025 \| Third quarter repayments
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			3.50%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments			$ (229,000,000)
Senior notes \| 3.500% senior notes due 2025 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		3.50%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (195,000,000)
Senior notes \| 3.400% senior notes due 2026 \| Third quarter repayments
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			3.40%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments			$ (224,000,000)
Senior notes \| 3.400% senior notes due 2026 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		3.40%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (148,000,000)
Senior notes \| 3.200% senior notes due 2026 \| Third quarter repayments
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			3.20%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments			$ (110,000,000)
Senior notes \| 3.200% senior notes due 2026 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		3.20%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (93,000,000)
Senior notes \| 2.600% senior notes due 2021 \| Third quarter repayments
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage			2.60%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments			$ (224,000,000)
Senior notes \| Floating interest rate notes due August 2022 \| Third quarter repayments
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments			$ (1,051,000,000)
Senior notes \| 4.400% senior notes due 2046 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		4.40%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (224,000,000)
Senior notes \| 4.400% senior notes due 2049 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		4.40%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (46,000,000)
Senior notes \| 7.730% debentures due 2096 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		7.73%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (3,000,000)
Senior notes \| 7.500% debentures due 2026 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		7.50%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (18,000,000)
Senior notes \| 7.250% debentures due 2096 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		7.25%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (44,000,000)
Senior notes \| 6.600% senior notes due 2046 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage	6.60%	6.60%
Long-term Debt Rollforward [Roll Forward]
Issuances	$ 57,200,000	$ 57,000,000
Senior notes \| 3.000% senior notes due 2027 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		3.00%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (116,000,000)
Senior notes \| 3.500% senior notes due 2029 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		3.50%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (23,000,000)
Senior notes \| 4.100% senior notes due 2047 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		4.10%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (87,000,000)
Senior notes \| 4.200% senior notes due 2048 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		4.20%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (39,000,000)
Senior notes \| 4.300% senior notes due 2039 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		4.30%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (57,000,000)
Senior notes \| 4.500% senior notes due 2044 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		4.50%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (17,000,000)
Senior notes \| 4.625% senior notes due 2045 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		4.625%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (116,000,000)
Senior notes \| 3.125% senior notes due 2022 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		3.125%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (276,000,000)
Senior notes \| 2.700% senior notes due 2022 \| Fourth quarter issuances (repayments)
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		2.70%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments		$ (351,000,000)
Senior notes \| 8.000% senior notes due 2025 \| Issuance of July 2020 notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					8.00%	8.00%
Long-term Debt Rollforward [Roll Forward]
Issuances						$ 500,000,000
Senior notes \| 8.500% senior notes due 2027 \| Issuance of July 2020 notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					8.50%	8.50%
Long-term Debt Rollforward [Roll Forward]
Issuances						$ 500,000,000
Senior notes \| 8.875% senior notes due 2030 \| Issuance of July 2020 notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					8.875%	8.875%
Long-term Debt Rollforward [Roll Forward]
Issuances						$ 1,000,000,000
Senior notes \| 4.100% senior notes due February 2021 \| July tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					4.10%	4.10%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (943,000,000)
Senior notes \| 4.100% senior notes due February 2021 \| August and September tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					4.10%	4.10%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (139,000,000)
Senior notes \| 4.100% senior notes due February 2021 \| December repayment
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					4.10%	4.10%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (167,000,000)
Senior notes \| 4.850% senior notes due March 2021 \| July tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					4.85%	4.85%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (530,000,000)
Senior notes \| 2.600% senior notes due August 2021 \| July tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					2.60%	2.60%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (51,000,000)
Senior notes \| 2.600% senior notes due August 2021 \| August and September tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					2.60%	2.60%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (1,099,000,000)
Senior notes \| 2.600% senior notes due August 2021 \| December tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					2.60%	2.60%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (126,000,000)
Senior notes \| 5.875% senior notes due 2025 \| Issuance of August 2020 notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					5.875%	5.875%
Long-term Debt Rollforward [Roll Forward]
Issuances						$ 900,000,000
Senior notes \| 6.375% senior notes due 2028 \| Issuance of August 2020 notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					6.375%	6.375%
Long-term Debt Rollforward [Roll Forward]
Issuances						$ 600,000,000
Senior notes \| 6.625% senior notes due 2030 \| Issuance of August 2020 notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					6.625%	6.625%
Long-term Debt Rollforward [Roll Forward]
Issuances						$ 1,500,000,000
Senior notes \| 2.600% senior notes due April 2022 \| August and September tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					2.60%	2.60%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (171,000,000)
Senior notes \| 2.600% senior notes due April 2022 \| December tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					2.60%	2.60%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (128,000,000)
Senior notes \| 2.700% senior notes due August 2022 \| August and September tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					2.70%	2.70%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (102,000,000)
Senior notes \| 2.700% senior notes due August 2022 \| December tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					2.70%	2.70%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (1,269,000,000)
Senior notes \| 2.700% senior notes due February 2023 \| August and September tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					2.70%	2.70%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (52,000,000)
Senior notes \| 2.700% senior notes due February 2023 \| December tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					2.70%	2.70%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (212,000,000)
Senior notes \| 0.00% senior notes due October 2036
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments					$ (2,000,000)
Senior notes \| 0.00% senior notes due October 2036 \| October repayment
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					0.00%	0.00%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (2,000,000)
Senior notes \| 5.500% senior notes due 2025
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		5.50%			5.50%	5.50%
Senior notes \| 5.500% senior notes due 2025 \| Issuance of December 2020 notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					5.50%	5.50%
Long-term Debt Rollforward [Roll Forward]
Issuances						$ 750,000,000
Senior notes \| 6.125% senior notes due 2031
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage		6.125%			6.125%	6.125%
Senior notes \| 6.125% senior notes due 2031 \| Issuance of December 2020 notes
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					6.125%	6.125%
Long-term Debt Rollforward [Roll Forward]
Issuances						$ 1,250,000,000
Senior notes \| 3.125% senior notes due February 2022 \| December tender and purchase
Debt Instrument [Line Items]
Debt instrument interest rate stated percentage					3.125%	3.125%
Long-term Debt Rollforward [Roll Forward]
Tender, purchase and repayments						$ (538,000,000)

LEASE COMMITMENTS - NARRATIVE (

LEASE COMMITMENTS - NARRATIVE (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Operating lease assets	$ 726	$ 1,062
Finance lease	589
Offshore And Onshore Drilling Rigs
Lessee, Lease, Description [Line Items]
Operating lease assets	32
Compressors
Lessee, Lease, Description [Line Items]
Operating lease assets	62
Storage Facilities
Lessee, Lease, Description [Line Items]
Operating lease assets	52
Office Space
Lessee, Lease, Description [Line Items]
Operating lease assets	386
Other Field Equipment
Lessee, Lease, Description [Line Items]
Operating lease assets	$ 32
Oil And Gas Exploration And Development Equipment \| Low end of range
Lessee, Lease, Description [Line Items]
Contract expiration term	1 year
Oil And Gas Exploration And Development Equipment \| High end of range
Lessee, Lease, Description [Line Items]
Contract expiration term	8 years
Pipelines, Rail Cars, Storage Facilities, Easements And Real Estate
Lessee, Lease, Description [Line Items]
Operating lease assets	$ 207
Real Estate Leases \| Low end of range
Lessee, Lease, Description [Line Items]
Contract expiration term	1 year
Real Estate Leases \| High end of range
Lessee, Lease, Description [Line Items]
Contract expiration term	10 years

LEASE COMMITMENTS - LEASE ASSET

LEASE COMMITMENTS - LEASE ASSETS AND LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Assets:
Operating lease assets	$ 726	$ 1,062
Finance lease assets	581	365
Total lease assets	1,307	1,427
Assets and Liabilities, Lessee [Abstract]
Current operating lease liabilities	186	473
Current finance lease liabilities	85	42
Non-current operating lease liabilities	585	641
Non-current finance lease liabilities	504	316
Total lease liabilities	$ 1,360	$ 1,472
Property, plant and equipment	Property, plant and equipment, net	Property, plant and equipment, net
Current maturities of long-term debt	Long-term Debt and Lease Obligation, Current	Long-term Debt and Lease Obligation, Current
Long-term debt, net	Long-term debt, net	Long-term debt, net

LEASE COMMITMENTS - SCHEDULE OF

LEASE COMMITMENTS - SCHEDULE OF OPERATING AND FINANCE LEASE MATURITIES (Details) $ in Millions	Dec. 31, 2021USD ($)
Operating Leases
2022	$ 183
2023	128
2024	99
2025	78
2026	94
Thereafter	302
Total lease payments	884
Less: Interest	(113)
Total lease liabilities	771
Finance Leases
2022	85
2023	84
2024	82
2025	68
2026	57
Thereafter	300
Total lease payments	676
Less: Interest	(87)
Total lease liabilities	589
Operating and Finance Lease Liabilities, Payments, Due [Abstract]
2022	268
2023	212
2024	181
2025	146
2026	151
Thereafter	602
Total lease payments	1,560
Less: Interest	(200)
Total lease liabilities	$ 1,360
Weighted average lease term, operating lease	7 years 3 months 18 days
Weighted average discount rate, operating lease	3.40%
Weighted average lease term, finance lease	9 years 2 months 12 days
Weighted average discount rate, finance lease	2.91%

LEASE COMMITMENTS - OTHER INFOR

LEASE COMMITMENTS - OTHER INFORMATION (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Amortization of ROU assets	$ 39	$ 29
Interest on lease liabilities	13	14
Total lease cost	870	904
Short-term lease cost	238	207
Variable lease cost	120	95
Operating cash flows	401	506
Investing cash flows	73	89
Financing cash flows	39	29
Property, plant and equipment, net
Lessee, Lease, Description [Line Items]
Operating lease costs	222	197
Operating expense and cost of sales
Lessee, Lease, Description [Line Items]
Operating lease costs	487	557
Selling, general and administrative expenses
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 109	$ 107

DERIVATIVES - NARRATIVE (Detail

DERIVATIVES - NARRATIVE (Details) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2021USD ($)$ / bbl	Dec. 31, 2021USD ($)$ / Mcfe	Dec. 31, 2020USD ($)	Dec. 31, 2020USD ($)$ / bbl	Dec. 31, 2020USD ($)$ / Mcfe	Dec. 31, 2019USD ($)	Jun. 26, 2020$ / sharesshares	May 29, 2020shares	Aug. 08, 2019$ / sharesshares
Derivative [Line Items]
Net cash payments	$ 834			$ 362			$ (120)
Net cash payments related to settlements	885
Not designated as hedging instruments
Derivative [Line Items]
Aggregate fair value of derivative instruments with credit-risk-related contingent features for which a net liability position existed, net of collateral	107	$ 107	$ 107	104	$ 104	$ 104
Amount of collateral posted related to derivative instruments with credit-risk-related contingent features	323	323	323	374	374	374
Gas Puts and Calls
Derivative [Line Items]
Net cash payments	152
Oil Collars and Calls
Derivative [Line Items]
Net cash payments				146
Net cash receipts related to settlements				960
Interest Rate Swaps
Derivative [Line Items]
Net cash payments	815
Collateral returned	51
Collateral returned netted against derivative liabilities	323	323	323	$ 374	$ 374	$ 374
Interest Rate Swap, 6.348%
Derivative [Line Items]
Notional amount	$ 400	$ 400	$ 400
Weighted average interest rate	6.348%	6.348%	6.348%
Interest Rate Swap, 6.662%
Derivative [Line Items]
Notional amount	$ 350	$ 350	$ 350
Weighted average interest rate	6.662%	6.662%	6.662%
Marketing Derivatives \| Not designated as hedging instruments
Derivative [Line Items]
Weighted average sales price (in dollars per share)		74.85	4.61		46.05	2.58
Berkshire Warrants \| Common Stock
Derivative [Line Items]
Warrants issued (in shares) \| shares								3.9
Exercise price of warrants (in dollars per share) \| $ / shares								$ 59.624
Berkshire Warrants \| Additional Paid-in Capital
Derivative [Line Items]
Warrants issued (in shares) \| shares									103
Berkshire Warrants \| Anadarko Petroleum Corporation \| Common Stock
Derivative [Line Items]
Warrants issued (in shares) \| shares										80
Exercise price of warrants (in dollars per share) \| $ / shares										$ 62.50

DERIVATIVES - INTEREST-RATE DER

DERIVATIVES - INTEREST-RATE DERIVATIVES (Details) $ in Millions	Dec. 31, 2021USD ($)
Interest Rate Swap, 6.709%
Derivative [Line Items]
Notional Principal Amount	$ 275
Weighted-Average Interest Rate	6.709%
Interest Rate Swap, 6.445%
Derivative [Line Items]
Notional Principal Amount	$ 450
Weighted-Average Interest Rate	6.445%

DERIVATIVES - MARKETING DERIVAT

DERIVATIVES - MARKETING DERIVATIVES (Details)	12 Months Ended
DERIVATIVES - MARKETING DERIVATIVES (Details)	Dec. 31, 2021$ / bbl	Dec. 31, 2021$ / Mcfe	Dec. 31, 2021MMBbls	Dec. 31, 2021Bcf	Dec. 31, 2020$ / bbl	Dec. 31, 2020$ / Mcfe	Dec. 31, 2020MMBbls	Dec. 31, 2020Bcf
Marketing derivatives \| Not designated as hedging instruments
Outstanding commodity derivatives contracts not designated as hedging instruments
Weighted average sales price (in dollars per share)	74.85	4.61			46.05	2.58
Oil commodity contracts \| Short position
Outstanding commodity derivatives contracts not designated as hedging instruments
Commodity contracts Volume (MMbbl or Bcf) \| MMBbls			(28)				(31)
Natural gas commodity contracts \| Short position
Outstanding commodity derivatives contracts not designated as hedging instruments
Commodity contracts Volume (MMbbl or Bcf) \| Bcf				(136)				(117)

DERIVATIVES - FAIR VALUE (Detai

DERIVATIVES - FAIR VALUE (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Oil Collars and Calls \| Other current assets
Gross and net fair values of outstanding derivatives (in millions)
Netting, asset		$ 0
Total fair value, asset		25
Oil Collars and Calls \| Other current assets \| Level 1
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross		0
Oil Collars and Calls \| Other current assets \| Level 2
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross		25
Oil Collars and Calls \| Other current assets \| Level 3
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross		0
Oil Collars and Calls \| Deferred credits and other liabilities - other
Gross and net fair values of outstanding derivatives (in millions)
Netting, liability		0
Total fair value, liability		(42)
Oil Collars and Calls \| Deferred credits and other liabilities - other \| Level 1
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross		0
Oil Collars and Calls \| Deferred credits and other liabilities - other \| Level 2
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross		(42)
Oil Collars and Calls \| Deferred credits and other liabilities - other \| Level 3
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross		0
Marketing Derivatives
Gross and net fair values of outstanding derivatives (in millions)
Collateral deposited with clearinghouses and brokers	$ 110	85
Marketing Derivatives \| Other current assets
Gross and net fair values of outstanding derivatives (in millions)
Netting, asset	(1,645)	(1,204)
Total fair value, asset	44	31
Marketing Derivatives \| Other current assets \| Level 1
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross	1,516	1,155
Marketing Derivatives \| Other current assets \| Level 2
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross	173	80
Marketing Derivatives \| Other current assets \| Level 3
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross	0	0
Marketing Derivatives \| Long-term receivables and other assets, net
Gross and net fair values of outstanding derivatives (in millions)
Netting, asset	(4)	(7)
Total fair value, asset	1	2
Marketing Derivatives \| Long-term receivables and other assets, net \| Level 1
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross	4	7
Marketing Derivatives \| Long-term receivables and other assets, net \| Level 2
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross	1	2
Marketing Derivatives \| Long-term receivables and other assets, net \| Level 3
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative asset, gross	0	0
Marketing Derivatives \| Accrued liabilities
Gross and net fair values of outstanding derivatives (in millions)
Netting, liability	1,645	1,204
Total fair value, liability	(159)	(129)
Marketing Derivatives \| Accrued liabilities \| Level 1
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	(1,608)	(1,252)
Marketing Derivatives \| Accrued liabilities \| Level 2
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	(196)	(81)
Marketing Derivatives \| Accrued liabilities \| Level 3
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	0	0
Marketing Derivatives \| Deferred credits and other liabilities - other
Gross and net fair values of outstanding derivatives (in millions)
Netting, liability	4	7
Total fair value, liability	0	0
Marketing Derivatives \| Deferred credits and other liabilities - other \| Level 1
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	(4)	(7)
Marketing Derivatives \| Deferred credits and other liabilities - other \| Level 2
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	0	0
Marketing Derivatives \| Deferred credits and other liabilities - other \| Level 3
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	0	0
Interest Rate Swaps
Gross and net fair values of outstanding derivatives (in millions)
Collateral paid netted against derivative liabilities	323	374
Interest Rate Swaps \| Accrued liabilities
Gross and net fair values of outstanding derivatives (in millions)
Netting, liability	0	0
Total fair value, liability	(315)	(936)
Interest Rate Swaps \| Accrued liabilities \| Level 1
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	0	0
Interest Rate Swaps \| Accrued liabilities \| Level 2
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	(315)	(936)
Interest Rate Swaps \| Accrued liabilities \| Level 3
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	0	0
Interest Rate Swaps \| Deferred credits and other liabilities - other
Gross and net fair values of outstanding derivatives (in millions)
Netting, liability	0	0
Total fair value, liability	(436)	(822)
Interest Rate Swaps \| Deferred credits and other liabilities - other \| Level 1
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	0	0
Interest Rate Swaps \| Deferred credits and other liabilities - other \| Level 2
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	(436)	(822)
Interest Rate Swaps \| Deferred credits and other liabilities - other \| Level 3
Gross and net fair values of outstanding derivatives (in millions)
Commodity contract derivative liability, gross	$ 0	$ 0

DERIVATIVES - GAINS AND LOSSES

DERIVATIVES - GAINS AND LOSSES ON DERIVATIVES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	$ 122	$ (423)	$ 233
Oil Collars and Calls \| Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	(344)	1,064	(107)
Marketing Derivatives \| Net sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	338	(393)	1,804
Interest Rate Swaps \| Gains (losses) on interest rate swaps and warrants, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	122	(428)	122
Other \| Gains (losses) on interest rate swaps and warrants, net \| WES
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments	$ 0	$ 5	$ 111

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) $ in Millions	3 Months Ended			9 Months Ended	12 Months Ended
FAIR VALUE MEASUREMENTS (Details) $ in Millions	Dec. 31, 2021USD ($)	Jun. 30, 2020USD ($)$ / MillionCubicFeet$ / Barrel	Mar. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Fair value of assets and liabilities
Impairment and related charges, net of tax	$ 276
Impairment and related charges		$ 8,600				$ 285
WES
Fair value of assets and liabilities
Impairment and related charges			$ 1,200
Other-than-temporary impairment loss				$ 2,700
Low end of range
Fair value of assets and liabilities
Operating and capital cost estimates, percentage		1.00%
Operating and capital cost estimates (in dollars per barrel) \| $ / Barrel		50
High end of range
Fair value of assets and liabilities
Operating and capital cost estimates, percentage		2.00%
Operating and capital cost estimates (in dollars per barrel) \| $ / Barrel		60
Oil
Fair value of assets and liabilities
Sales price (dollars per barrel) \| $ / Barrel		62.42
Unweighted arithmetic average price (in dollars per barrel) \| $ / Barrel		59.17
Unweighted arithmetic average price, period		15 years
Oil \| Low end of range
Fair value of assets and liabilities
Sales price (dollars per barrel) \| $ / Barrel		40
Oil \| High end of range
Fair value of assets and liabilities
Sales price (dollars per barrel) \| $ / Barrel		70
Natural Gas
Fair value of assets and liabilities
Unweighted arithmetic average price (in dollars per barrel) \| $ / MillionCubicFeet		3.13
Unweighted arithmetic average price, period		15 years
Natural Gas \| Low end of range
Fair value of assets and liabilities
Sales price (dollars per barrel) \| $ / MillionCubicFeet		2
Natural Gas \| High end of range
Fair value of assets and liabilities
Sales price (dollars per barrel) \| $ / MillionCubicFeet		3.60
Gulf of Mexico
Fair value of assets and liabilities
Impairment and related charges		$ 1,200	241
Algeria Oil and Gas Proved Properties
Fair value of assets and liabilities
Impairment and related charges		900
Oman, Bolivia and the Gulf of Mexico
Fair value of assets and liabilities
Impairment and related charges			293
Level 2 \| Domestic Onshore Unproved Acreage
Fair value of assets and liabilities
Impairment and related charges		4,300
Level 3 \| Measurement Input, Weighted Average Cost of Capital
Fair value of assets and liabilities
Discount rate	10.00%
Non recurring
Fair value of assets and liabilities
Goodwill impairment					$ 1,153
Oil and gas properties - proved					2,436
Oil and gas properties - unproved					4,591
Oil and gas properties - discontinued operations, net					2,191
WES equity investment					2,673
Ghana Assets
Fair value of assets and liabilities
Impairment and related charges					$ 2,200
Ghana Assets \| Discontinued Operations, Held-for-sale
Fair value of assets and liabilities
Impairment and related charges, net of tax		1,400
Impairment and related charges		2,200
Oil and gas
Fair value of assets and liabilities
Impairment and related charges		$ 6,400	$ 581

INCOME TAXES - DOMESTIC AND FOR

INCOME TAXES - DOMESTIC AND FOREIGN COMPONENTS OF INCOME (LOSS) FROM CONTINUING OPERATIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Domestic	$ 1,966	$ (15,322)	$ (1,632)
Foreign	1,739	(383)	1,986
Income (loss) from continuing operations before income taxes	$ 3,705	$ (15,705)	$ 354

INCOME TAXES - COMPONENTS OF IN

INCOME TAXES - COMPONENTS OF INCOME TAX EXPENSE (BENEFIT) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current
Federal	$ 173	$ (126)	$ 33
State and Local	36	6	46
Foreign	660	465	1,809
Total current tax expense	869	345	1,888
Deferred
Federal	191	(2,384)	(130)
State and Local	(153)	(103)	17
Foreign	8	(30)	(914)
Total deferred tax expense (benefit)	46	(2,517)	(1,027)
Total income tax expense (benefit)	$ 915	$ (2,172)	$ 861

INCOME TAXES - EFFECTIVE TAX RA

INCOME TAXES - EFFECTIVE TAX RATE RECONCILIATION (Details)	12 Months Ended
INCOME TAXES - EFFECTIVE TAX RATE RECONCILIATION (Details)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S. federal statutory tax rate	21.00%	21.00%	21.00%
Enhanced oil recovery credit and other general business credits	(3.00%)	0.00%	(2.00%)
Goodwill impairment	0.00%	(3.00%)	0.00%
Capital loss	(2.00%)	0.00%	0.00%
Tax impact from foreign operations	8.00%	(4.00%)	135.00%
State income taxes, net of federal benefit	(2.00%)	0.00%	14.00%
Uncertain tax positions	0.00%	0.00%	7.00%
Transaction costs	0.00%	0.00%	10.00%
Non-controlling interest	0.00%	0.00%	(8.00%)
Executive compensation limitation	1.00%	0.00%	12.00%
Stock warrants	0.00%	0.00%	(5.00%)
WES loss of control	0.00%	0.00%	58.00%
Other	2.00%	0.00%	1.00%
Worldwide effective tax rate	25.00%	14.00%	243.00%

INCOME TAXES - NARRATIVE (Detai

INCOME TAXES - NARRATIVE (Details) - USD ($)	3 Months Ended	12 Months Ended
INCOME TAXES - NARRATIVE (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
Worldwide effective tax rate		25.00%	14.00%	243.00%
Total deferred tax assets, after valuation allowances		$ 3,474,000,000	$ 4,345,000,000
Total deferred tax liabilities		10,476,000,000	11,402,000,000
General business credit carryforwards		698,000,000	607,000,000
Foreign tax credit carryforwards		3,904,000,000	4,465,000,000
Interest expense carryforward		28,000,000	668,000,000
Deferred foreign tax liability due to reversal of indefinite re-investment assertion		916,000,000
Additional deferred tax liability amount required		219,000,000
Unrecognized tax benefits		2,026,000,000	2,045,000,000	$ 2,173,000,000	$ 0
Potential benefit		2,000,000,000
Potential benefit, if recognized, would affect the effective tax rate on income		1,600,000,000
Benefits related to tax positions which ultimate deductibility is highly certain		60,000,000
Interest related to liabilities for unrecognized tax benefits		58,000,000
Cumulative accrued interest related to liabilities for unrecognized tax benefits		321,000,000
Interest and penalties associated with liabilities for unrecognized tax benefits		0	0
Forecast
Income Tax Contingency [Line Items]
One-time non-cash tax benefit as a result of a legal entity reorganization	$ 2,600,000,000
Other current assets
Income Tax Contingency [Line Items]
Income tax receivables		105,000,000	110,000,000
Long-term receivables and other assets, net
Income Tax Contingency [Line Items]
Federal alternative minimum tax non-current receivables		33,000,000	$ 24,000,000
State
Income Tax Contingency [Line Items]
Tax credit carryforwards		39,000,000
Tax credit carryforward, valuation allowance		34,000,000
Operating loss carryforwards		284,000,000
Operating loss carryforward, valuation allowance		244,000,000
Interest expense carryforward		9,000,000
Foreign
Income Tax Contingency [Line Items]
Tax credit carryforward, valuation allowance		3,900,000,000
Operating loss carryforwards		833,000,000
Operating loss carryforward, valuation allowance		797,000,000
Valuation allowance on other deferred tax assets		145,000,000
Federal
Income Tax Contingency [Line Items]
General business credit carryforwards		659,000,000
Operating loss carryforwards		511,000,000
Interest expense carryforward		$ 28,000,000

INCOME TAXES - COMPONENTS OF DE

INCOME TAXES - COMPONENTS OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred tax liabilities
Property, plant and equipment differences	$ (9,905)	$ (10,744)
Equity investments, partnerships and international subsidiaries	(571)	(658)
Gross long-term deferred tax liabilities	(10,476)	(11,402)
Deferred tax assets
Environmental reserves	242	257
Postretirement benefit accruals	285	398
Deferred compensation and benefits	286	186
Asset retirement obligations	850	942
Foreign tax credit carryforwards	3,904	4,465
General business credit carryforwards	698	607
Net operating loss carryforward	1,628	1,797
Interest expense carryforward	28	668
All other	689	720
Gross long-term deferred tax assets	8,610	10,040
Valuation allowance	(5,136)	(5,695)
Net long-term deferred tax assets	3,474	4,345
Total deferred income tax liability, net	(7,002)	(7,057)
Net long-term deferred tax assets	(37)	(56)
Total deferred income tax liability, gross	$ (7,039)	$ (7,113)

INCOME TAXES - RECONCILIATION O

INCOME TAXES - RECONCILIATION OF UNRECOGNIZED TAX BENEFITS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance, at beginning of period	$ 2,045	$ 2,173	$ 0
Increase related to Anadarko Acquisition	0	0	2,143
Increases related to prior-year positions	75	14	30
Settlements	(80)	(42)	0
Reductions for tax positions of prior years	(14)	(100)	0
Balance, at end of period	$ 2,026	$ 2,045	$ 2,173

RETIREMENT AND POSTRETIREMENT_3

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - NARRATIVE (Details) $ in Millions	Jun. 30, 2020USD ($)	Dec. 31, 2021USD ($)employee	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Defined Benefit Plan Disclosure
Accrued liabilities for the supplemental retirement plan		$ 249	$ 239
Expenses under provisions of defined contribution and supplemental retirement plans		166	192	$ 192
Total benefit costs, including postretirement costs		$ 211	235	$ 220
United States
Defined Benefit Plan Disclosure
Number of employees accruing benefits under defined benefit plans \| employee		400
Foreign
Defined Benefit Plan Disclosure
Number of employees accruing benefits under defined benefit plans \| employee		300
Pension Benefits
Defined Benefit Plan Disclosure
Payment to settle retiree liability		$ 109
Decrease to benefit obligation	$ 278	0	8
Curtailment gain	124	$ 0	$ 278
Offset to accumulated other comprehensive income	$ 154

RETIREMENT AND POSTRETIREMENT_4

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - OBLIGATIONS AND FUNDED STATUS (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Amounts recognized in the consolidated balance sheet:
Deferred credits and other liabilities — pension and postretirement obligations		$ (1,540)	$ (1,763)
Pension Benefits
Amounts recognized in the consolidated balance sheet:
Long-term receivables and other assets, net		192	167
Accrued liabilities		(4)	(9)
Deferred credits and other liabilities — pension and postretirement obligations		(391)	(578)
Total amount recognized in consolidated balance sheet		(203)	(420)
Accumulated other comprehensive loss included the following after-tax balances:
Net loss		(17)	(3)
Prior service cost		0	0
AOCI after-tax balances		(17)	(3)
Changes in the benefit obligation:
Benefit obligation — beginning of year		1,613	2,508
Service cost — benefits earned during the period		8	37	$ 47
Interest cost on projected benefit obligation		35	52	40
Actuarial (gain) loss		(55)	251
Curtailment (gain) loss	$ (124)	0	(278)
Special termination benefits		0	23
Benefits paid		(219)	(948)
Sale of Colombia assets		0	(24)
Settlement due to annuity purchase		(109)	0
Other	$ (278)	0	(8)
Benefit obligation — end of year		1,273	1,613	2,508
Changes in plan assets:
Fair value of plan assets — beginning of year		1,193	1,841
Actual return on plan assets		44	161
Employer contributions		162	146
Benefits paid		(219)	(948)
Payments due to annuity purchase		(109)	0
Other		(1)	(7)
Fair value of plan assets — end of year		1,070	1,193	1,841
Unfunded status:		(203)	(420)
Accumulated Benefit Obligation in Excess of Plan Assets
Projected benefit obligation		963	1,226
Accumulated benefit obligation		960	1,221
Fair value of plan assets		656	670
Plan Assets in Excess of Accumulated Benefit Obligation
Projected benefit obligation		310	387
Accumulated benefit obligation		308	379
Fair value of plan assets		414	523
Postretirement Benefits
Amounts recognized in the consolidated balance sheet:
Long-term receivables and other assets, net		0	0
Accrued liabilities		(71)	(74)
Deferred credits and other liabilities — pension and postretirement obligations		(1,149)	(1,185)
Total amount recognized in consolidated balance sheet		(1,220)	(1,259)
Accumulated other comprehensive loss included the following after-tax balances:
Net loss		163	226
Prior service cost		(50)	(60)
AOCI after-tax balances		113	166
Changes in the benefit obligation:
Benefit obligation — beginning of year		1,259	1,175
Service cost — benefits earned during the period		42	39	24
Interest cost on projected benefit obligation		33	37	36
Actuarial (gain) loss		(54)	73
Curtailment (gain) loss		0	2
Special termination benefits		0	0
Benefits paid		(67)	(73)
Sale of Colombia assets		0	0
Settlement due to annuity purchase		0	0
Other		7	6
Benefit obligation — end of year		1,220	1,259	1,175
Changes in plan assets:
Fair value of plan assets — beginning of year		0	0
Actual return on plan assets		0	0
Employer contributions		59	67
Benefits paid		(67)	(73)
Payments due to annuity purchase		0	0
Other		8	6
Fair value of plan assets — end of year		0	0	$ 0
Unfunded status:		$ (1,220)	$ (1,259)

RETIREMENT AND POSTRETIREMENT_5

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - COMPONENTS OF NET PERIODIC BENEFIT COST (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Pension Benefits
Net periodic benefit costs:
Service cost — benefits earned during the period	$ 8	$ 37	$ 47
Interest cost on projected benefit obligation	35	52	40
Expected return on plan assets	(59)	(73)	(52)
Recognized actuarial loss	2	5	9
Recognized prior service credit	0	0	0
(Gain) loss due to curtailment	0	(124)	(91)
Gain due to settlement	(19)	(19)	0
Special termination benefits	0	22	49
Other costs and adjustments	0	1	(2)
Net periodic benefit cost	(33)	(99)	0
Postretirement Benefits
Net periodic benefit costs:
Service cost — benefits earned during the period	42	39	24
Interest cost on projected benefit obligation	33	37	36
Expected return on plan assets	0	0	0
Recognized actuarial loss	15	11	8
Recognized prior service credit	(9)	(8)	(8)
(Gain) loss due to curtailment	0	2	6
Gain due to settlement	0	0	0
Special termination benefits	0	0	0
Other costs and adjustments	0	0	0
Net periodic benefit cost	$ 81	$ 81	$ 66

RETIREMENT AND POSTRETIREMENT_6

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - ASSUMPTIONS (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Pension Benefits
Benefit Obligation Assumptions:
Discount rate	2.67%	2.19%
Rate of increase in compensation levels	3.98%	5.07%
Net Periodic Benefit Cost Assumptions:
Discount rate	2.19%	3.04%
Rate of increase in compensation levels	5.07%	5.34%
Assumed long-term rate of return on assets	4.92%	6.02%
Postretirement Benefits
Benefit Obligation Assumptions:
Discount rate	2.94%	3.05%
Rate of increase in compensation levels	0.00%	0.00%
Net Periodic Benefit Cost Assumptions:
Discount rate	3.05%	3.26%
Rate of increase in compensation levels	0.00%	0.00%
Assumed long-term rate of return on assets	0.00%	0.00%
Postretirement Benefits \| MAPD
Assumed healthcare cost trend rates
Projected annual rates of healthcare cost trend rates, next fiscal year (as a percent)	9.60%
Projected annual rates of healthcare cost trend rates, year nine and beyond (as a percent)	4.50%
Postretirement Benefits \| Non-MAPD
Assumed healthcare cost trend rates
Projected annual rates of healthcare cost trend rates, year nine and beyond (as a percent)	4.50%
Postretirement Benefits \| Non-MAPD \| Low end of range
Assumed healthcare cost trend rates
Health care cost trend rates for prior year (as a percent)	6.30%
Postretirement Benefits \| Non-MAPD \| High end of range
Assumed healthcare cost trend rates
Health care cost trend rates for prior year (as a percent)	6.80%

RETIREMENT AND POSTRETIREMENT_7

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - FAIR VALUE OF PENSION PLAN ASSETS (Details) - Pension Benefits - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure
Fair value of plan assets, net of net payables	$ 1,076	$ 1,196
Cash and cash equivalents
Defined Benefit Plan Disclosure
Fair value of plan assets	19	38
Government securities
Defined Benefit Plan Disclosure
Fair value of plan assets	63	65
Corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	36	39
Equity securities
Defined Benefit Plan Disclosure
Fair value of plan assets	46	138
Other
Defined Benefit Plan Disclosure
Fair value of plan assets	76	55
Net payables
Defined Benefit Plan Disclosure
Fair value of plan assets	6	3
Fair Value, Inputs, Level 1, 2 and 3
Defined Benefit Plan Disclosure
Fair value of plan assets	240	335
Level 1
Defined Benefit Plan Disclosure
Fair value of plan assets	128	241
Fair value of plan assets, net of net payables	128	241
Level 1 \| Cash and cash equivalents
Defined Benefit Plan Disclosure
Fair value of plan assets	19	38
Level 1 \| Government securities
Defined Benefit Plan Disclosure
Fair value of plan assets	63	65
Level 1 \| Corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Level 1 \| Equity securities
Defined Benefit Plan Disclosure
Fair value of plan assets	46	138
Level 1 \| Other
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Level 2
Defined Benefit Plan Disclosure
Fair value of plan assets	112	94
Fair value of plan assets, net of net payables	112	94
Level 2 \| Cash and cash equivalents
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Level 2 \| Government securities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Level 2 \| Corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	36	39
Level 2 \| Equity securities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Level 2 \| Other
Defined Benefit Plan Disclosure
Fair value of plan assets	76	55
Level 3
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Fair value of plan assets, net of net payables	0	0
Level 3 \| Cash and cash equivalents
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Level 3 \| Government securities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Level 3 \| Corporate bonds
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Level 3 \| Equity securities
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Level 3 \| Other
Defined Benefit Plan Disclosure
Fair value of plan assets	0	0
Investments measured at net asset value
Defined Benefit Plan Disclosure
Fair value of plan assets	$ 836	$ 861

RETIREMENT AND POSTRETIREMENT_8

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS - FUTURE BENEFIT PAYMENTS (Details) $ in Millions	Dec. 31, 2021USD ($)
Pension Benefits
Estimated future benefit payments
2022	$ 130
2023	73
2024	77
2025	71
2026	68
2027 - 2031	318
Postretirement Benefits
Estimated future benefit payments
2022	72
2023	70
2024	68
2025	66
2026	64
2027 - 2031	$ 306

ENVIRONMENTAL LIABILITIES AND_3

ENVIRONMENTAL LIABILITIES AND EXPENDITURES (Details)	1 Months Ended		3 Months Ended	12 Months Ended
ENVIRONMENTAL LIABILITIES AND EXPENDITURES (Details)	Sep. 30, 2021USD ($)	Mar. 31, 2016mi	Sep. 30, 2016USD ($)	Dec. 31, 2021USD ($)site	Dec. 31, 2020USD ($)site	Dec. 31, 2019USD ($)
Environmental remediation reserves
Number of sites				165	170
Environmental remediation reserves, current, included in accrued liabilities \| $				$ 155,000,000	$ 123,000,000
Environmental remediation reserves, noncurrent, included in deferred credits and other liabilities - other \| $				944,000,000	1,028,000,000
Remediation balance \| $				1,099,000,000	1,151,000,000
Environmental reserves, exceeding $ ten million, threshold value \| $				$ 10,000,000
Environmental reserves, exceeding $ ten million, number of sites				20
Environmental reserves, range between zero to $ one million site category, number of sites				96
Remediation Expenses \| $				$ 28,000,000	$ 36,000,000	$ 112,000,000
Percent of reserve to be funded over the next three to four years				40.00%
Minimum period of expending second half of environmental reserves				10 years
Environmental remediation additional loss range \| $				$ 1,300,000,000
Low end of range
Environmental remediation reserves
Environmental reserves, range between zero to $ one million site category \| $				$ 0
Period of expending 40 percent of environmental reserves				3 years
High end of range
Environmental remediation reserves
Environmental reserves, range between zero to $ one million site category \| $				$ 1,000,000
Period of expending 40 percent of environmental reserves				4 years
NPL sites
Environmental remediation reserves
Number of sites				30	35
Remediation balance \| $				$ 427,000,000	$ 447,000,000
Number of sites with significant environmental remediation reserves				4
Percentage of environmental reserves accounted for by associated sites				96.00%
Number of sites indemnified by third party				14
Third-party sites
Environmental remediation reserves
Number of sites				69	69
Remediation balance \| $				$ 273,000,000	$ 293,000,000
Number of sites with significant environmental remediation reserves				10
Percentage of environmental reserves accounted for by associated sites				75.00%
Number of sites indemnified by third party				69
Number of sites not indemnified by third party				69
Occidental-operated sites
Environmental remediation reserves
Number of sites				15	17
Remediation balance \| $				$ 122,000,000	$ 144,000,000
Number of sites with significant environmental remediation reserves				2
Percentage of environmental reserves accounted for by associated sites				69.00%
Closed or non-operated Occidental sites
Environmental remediation reserves
Number of sites				51	49
Remediation balance \| $				$ 277,000,000	$ 267,000,000
Number of sites with significant environmental remediation reserves				5
Percentage of environmental reserves accounted for by associated sites				75.00%
Maxus
Environmental remediation reserves
Number of sites indemnified by third party				9
Passaic River
Environmental remediation reserves
Stretch of Lower Passaic river requiring remedial actions \| mi		8.3
River stretch which may require remedial actions \| mi		9
Clean-up estimated cost \| $	$ 441,000,000		$ 165,000,000

LAWSUITS, CLAIMS, COMMITMENTS_2

LAWSUITS, CLAIMS, COMMITMENTS AND CONTINGENCIES - LEGAL MATTERS (Details) - USD ($) $ in Millions	Mar. 26, 2021	Dec. 31, 2021	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Federal
Long-term Purchase Commitment [Line Items]
Potential income tax expense		$ 1,000
State
Long-term Purchase Commitment [Line Items]
Potential income tax expense		27
Anadarko Petroleum Corporation
Long-term Purchase Commitment [Line Items]
Tax refund				$ 881
Accrued interest on potential income tax expense		314
Arbitration Demand Filed By Andes Petroleum Ecuador Ltd
Long-term Purchase Commitment [Line Items]
Proceeds from settlement				$ 1,000
Recovery of amount awarded in settlement amount (as a percent)				60.00%
Claim to a settlement amount (as a percent)			40.00%
Own economic interest (as a percent)			60.00%
Amount awarded to other party in litigation	$ 391	$ 558
Tronox Settlement
Long-term Purchase Commitment [Line Items]
Payments for settlement					$ 5,200

LAWSUITS, CLAIMS, COMMITMENTS_3

LAWSUITS, CLAIMS, COMMITMENTS AND CONTINGENCIES - PURCHASE OBLIGATIONS (Details) $ in Billions	Dec. 31, 2021USD ($)
Purchase obligations
Total purchase obligations	$ 12.5
Purchase obligations in year one	3
Purchase obligations in year two and three	4.3
Purchase obligations in year four and five	2.6
Purchase obligations in year six and thereafter	$ 2.6

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) $ / shares in Units, $ in Millions	Aug. 08, 2019$ / sharesshares	Dec. 31, 2021USD ($)shares	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)shares	Mar. 31, 2020shares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Aug. 03, 2020USD ($)$ / sharesshares	Jun. 26, 2020	Dec. 31, 2018USD ($)
Common stock issuances
Balance at the beginning of the year (in shares)					1,080,565,000	1,044,435,000	1,080,565,000	1,044,435,000	895,116,000
Issued (in shares)							2,522,000	36,130,000	3,188,000
Issued as part of the acquisition (in shares)									146,131,000
Options exercised and other, net (in shares)							336,000
Balance at the end of the year (in shares)		1,083,423,000					1,083,423,000	1,080,565,000	1,044,435,000
TREASURY STOCK
Share repurchase program, authorized shares (in shares)		185,000,000					185,000,000
Share repurchase program, shares yet to be repurchased (in shares)		44,200,000					44,200,000
Shares purchased under share repurchase program (in shares)							0	0	2,700,000
Share repurchase program, average cost per share of shares repurchased during period (in dollars per share) \| $ / shares									$ 66.94
Treasury stock, shares (in shares)		149,348,394					149,348,394	149,051,634	150,300,000
PREFERRED STOCK
Issued as part of the acquisition (in shares)									146,131,000
Preferred stock dividends paid \| $		$ 200	$ 200	$ 200	$ 200
Preferred stock issued (in shares)		100,000					100,000	100,000
Preferred stock, shares outstanding (in shares)		100,000					100,000	100,000	0
Basic earnings (loss) per common share
Income (loss) from continuing operations \| $							$ 2,790	$ (13,533)	$ (507)
Loss from discontinued operations \| $							(468)	(1,298)	(15)
NET INCOME (LOSS) \| $							2,322	(14,831)	(522)
Less: Net income attributable to noncontrolling interest \| $							0	0	(145)
Less: Preferred stock dividends \| $							(800)	(844)	(318)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS \| $							1,522	(15,675)	(985)
Less: Net income allocated to participating securities \| $							(10)	0	0
Net income (loss), net of participating securities \| $							$ 1,512	$ (15,675)	$ (985)
Weighted-average number of basic shares (in shares)							935,000,000	918,700,000	809,500,000
Basic earnings (loss) per common share (in dollars per share) \| $ / shares							$ 1.62	$ (17.06)	$ (1.22)
Diluted earnings (loss) per common share
Net income (loss), net of participating securities \| $							$ 1,512	$ (15,675)	$ (985)
Weighted-average number of basic shares (in shares)							935,000,000	918,700,000	809,500,000
Dilutive securities (in shares)							23,800,000	0	0
Total diluted weighted- average common shares (in shares)							958,800,000	918,700,000	809,500,000
Diluted earnings (loss) per common share (in dollars per share) \| $ / shares							$ 1.58	$ (17.06)	$ (1.22)
Antidilutive securities excluded from computation of earnings per share (in shares)							87,000,000	203,000,000
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Total accumulated other comprehensive income (loss) \| $		$ 20,327					$ 20,327	$ 18,573	$ 34,232			$ 21,330
Anadarko Petroleum Corporation \| Series A preferred stock
Common stock issuances
Issued as part of the acquisition (in shares)	100,000
PREFERRED STOCK
Issued as part of the acquisition (in shares)	100,000
Liquidation preference (in dollars per share) \| $ / shares	$ 105,000
Dividend rate	8.00%
Dividend rate for unpaid amounts	9.00%
Common stock
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Total accumulated other comprehensive income (loss) \| $		217					217	216	209			179
Common stock \| Anadarko Petroleum Corporation
Common stock issuances
Issued as part of the acquisition (in shares)						2,000,000,000,000
PREFERRED STOCK
Issued as part of the acquisition (in shares)						2,000,000,000,000
Warrant \| Common stock
COMMON STOCK WARRANTS
Warrant, rate conversion											0.125
Warrants issued (in shares)										116,000,000
Exercise price of warrants (in dollars per share) \| $ / shares										$ 22
Fair value of warrant, reclassification \| $										$ 767
Foreign currency translation adjustments
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Total accumulated other comprehensive income (loss) \| $		(8)					(8)	(6)
Losses on derivatives
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Total accumulated other comprehensive income (loss) \| $		(104)					(104)	(119)
Pension and postretirement adjustments
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Total accumulated other comprehensive income (loss) \| $		(96)					(96)	(163)
Accumulated other comprehensive income (loss)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Total accumulated other comprehensive income (loss) \| $		$ (208)					$ (208)	$ (288)	$ (221)			$ (172)

STOCK-BASED INCENTIVE PLANS (De

STOCK-BASED INCENTIVE PLANS (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-Based Payment Award
Aggregate number of shares authorized for issuance (in shares)	133,000,000
Number of shares awarded to date (in shares)	16,000,000
Number of shares counted for each share covered by an award in determining the number of shares that are available for future awards (in shares)	3
Certain stock-based incentive amounts
Compensation expense	$ 287	$ 202	$ 208
Income tax benefit recognized in the income statement	60	$ 42	$ 43
Unrecognized compensation expense	$ 225
Weighted-average period over which unrecognized compensation expense is expected to be recognized	1 year 8 months 12 days
Stock awards other than options and SARs, Weighted-Average Grant-Date Fair Value (in dollars per share)
Issued (in shares)	2,522,000	36,130,000	3,188,000
Stock options, grant date fair value (in dollars per share)	$ 12.72
Options, weighted average strike price
Options exercised (in shares)	0	0	0
Vested
Outstanding stock options
Stock options, number of shares outstanding, beginning balance (in shares)	1,326,000
Granted (in shares)	0
Vested (in shares)	(910,000)
Stock options, number of shares outstanding, ending balance (in shares)	2,236,000	1,326,000
Options, weighted average strike price
Stock options, weighted average strike price, beginning balance (in dollars per share)	$ 55.38
Stock options, granted, weighted average strike price (in dollars per share)	0
Stock options, vested, weighted average strike price (in dollars per share)	40.03
Stock options, weighted average strike price, ending balance (in dollars per share)	$ 49.13	$ 55.38
Unvested
Outstanding stock options
Stock options, number of shares outstanding, beginning balance (in shares)	1,900,000
Granted (in shares)	440,000
Vested (in shares)	(910,000)
Stock options, number of shares outstanding, ending balance (in shares)	1,430,000	1,900,000
Options, weighted average strike price
Stock options, weighted average strike price, beginning balance (in dollars per share)	$ 40,030
Stock options, granted, weighted average strike price (in dollars per share)	25.39
Stock options, vested, weighted average strike price (in dollars per share)	40.03
Stock options, weighted average strike price, ending balance (in dollars per share)	$ 35.52	$ 40,030
High end of range
Share-based Compensation Arrangement by Share-Based Payment Award
Maximum shares available for future issuance (in shares)	68,700,000
Common Stock \| Non-employee directors
Share-based Compensation Arrangement by Share-Based Payment Award
Restricted stock granted to non-employee directors (in shares)	88,802
RSUs \| Low end of range
Certain stock-based incentive amounts
Award vesting period	1 year
RSUs \| High end of range
Certain stock-based incentive amounts
Award vesting period	3 years
Cash-Settled RSUs
Certain stock-based incentive amounts
Cash paid	$ 4	$ 3	$ 4
Roll-forward of stock awards other than options and SARS.
Unvested, beginning of period (in shares)	5,457,000
Granted (in shares)	190,000
Vested (in shares)	(166,000)
Forfeitures (in shares)	(106,000)
Unvested, end of period (in shares)	5,375,000	5,457,000
Stock awards other than options and SARs, Weighted-Average Grant-Date Fair Value (in dollars per share)
Unvested, beginning of period, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 42.41
Granted, Weighted-Average Grant-Date Fair Value (in dollars per share)	25.83	$ 40.86	$ 42.62
Vested, Weighted-Average Grant-Date Fair Value (in dollars per share)	56.36
Forfeitures, Weighted-Average Grant-Date Fair Value (in dollars per share)	40.08
Unvested, end of period, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 41.44	$ 42.41
Vested (in shares)	166,000
Stock-Settled RSUs
Certain stock-based incentive amounts
Fair value of shares vested during the year	$ 70	$ 62	$ 148
Roll-forward of stock awards other than options and SARS.
Unvested, beginning of period (in shares)	5,856,000
Granted (in shares)	5,773,000
Vested (in shares)	(2,750,000)
Forfeitures (in shares)	(290,000)
Unvested, end of period (in shares)	8,589,000	5,856,000
Stock awards other than options and SARs, Weighted-Average Grant-Date Fair Value (in dollars per share)
Unvested, beginning of period, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 50.21
Granted, Weighted-Average Grant-Date Fair Value (in dollars per share)	25.45	$ 41.60	$ 58.73
Vested, Weighted-Average Grant-Date Fair Value (in dollars per share)	53.27
Forfeitures, Weighted-Average Grant-Date Fair Value (in dollars per share)	35.07
Unvested, end of period, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 33.10	$ 50.21
Payouts for share-based awards granted as a percentage of target	95.00%
Issued (in shares)	2,605,000
Vested (in shares)	2,750,000
TSRIs
Certain stock-based incentive amounts
Award vesting period	3 years
Fair value of shares vested during the year	$ 4	$ 9	$ 4
Grant-date assumptions used in the Monte Carlo simulation models
Risk-free interest rate (as a percent)	0.20%	1.40%	2.50%
Volatility factor (as a percent)	75.00%	26.00%	22.00%
Expected life (years)	2 years 10 months 17 days	3 years	3 years
Grant-date fair value of underlying Occidental common stock (in dollars per share)	$ 25.39	$ 41.60	$ 67.19
Roll-forward of stock awards other than options and SARS.
Unvested, beginning of period (in shares)	1,534,000
Granted (in shares)	665,000
Vested (in shares)	(420,000)
Forfeitures (in shares)	(10,000)
Unvested, end of period (in shares)	1,769,000	1,534,000
Stock awards other than options and SARs, Weighted-Average Grant-Date Fair Value (in dollars per share)
Unvested, beginning of period, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 58.02
Granted, Weighted-Average Grant-Date Fair Value (in dollars per share)	25.39
Vested, Weighted-Average Grant-Date Fair Value (in dollars per share)	69.87
Forfeitures, Weighted-Average Grant-Date Fair Value (in dollars per share)	25.39
Unvested, end of period, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 43.12	$ 58.02
Payouts for share-based awards granted as a percentage of target	34.00%
Issued (in shares)	145,000
Vested (in shares)	420,000
TSRIs \| Low end of range
Stock awards other than options and SARs, Weighted-Average Grant-Date Fair Value (in dollars per share)
Payouts for share-based awards granted as a percentage of target	0.00%
TSRIs \| High end of range
Stock awards other than options and SARs, Weighted-Average Grant-Date Fair Value (in dollars per share)
Payouts for share-based awards granted as a percentage of target	200.00%
Options
Certain stock-based incentive amounts
Award vesting period	3 years
Grant-date assumptions used in the Monte Carlo simulation models
Risk-free interest rate (as a percent)	0.70%
Volatility factor (as a percent)	55.00%
Expected life (years)	6 years
Dividend yield	0.16%
Grant-date fair value of underlying Occidental common stock (in dollars per share)	$ 25.39
Option and SAR transactions
Options, weighted average strike price
Remaining life of options	6 years 10 months 24 days
CROCEI awards
Certain stock-based incentive amounts
Award vesting period	3 years
Roll-forward of stock awards other than options and SARS.
Unvested, beginning of period (in shares)	197,000
Granted (in shares)	221,000
Unvested, end of period (in shares)	418,000	197,000
Stock awards other than options and SARs, Weighted-Average Grant-Date Fair Value (in dollars per share)
Unvested, beginning of period, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 41.60
Granted, Weighted-Average Grant-Date Fair Value (in dollars per share)	25.39
Unvested, end of period, Weighted-Average Grant-Date Fair Value (in dollars per share)	$ 33.03	$ 41.60
CROCEI awards \| Low end of range
Stock awards other than options and SARs, Weighted-Average Grant-Date Fair Value (in dollars per share)
Payouts for share-based awards granted as a percentage of target	0.00%
CROCEI awards \| High end of range
Stock awards other than options and SARs, Weighted-Average Grant-Date Fair Value (in dollars per share)
Payouts for share-based awards granted as a percentage of target	200.00%

INDUSTRY SEGMENTS AND GEOGRAP_3

INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS - RESULTS OF OPERATIONS (Details) shares in Millions, $ in Millions	1 Months Ended		3 Months Ended		12 Months Ended
	Dec. 31, 2021USD ($)shares	Mar. 31, 2021USD ($)shares	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2021USD ($)segmentshares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of operating segments \| segment					3
Segment Information
Net sales					$ 25,956	$ 17,809	$ 20,911
Income (loss) from continuing operations before income taxes					3,705	(15,705)	354
Income tax (expense) benefit					(915)	2,172	(861)
Income (loss) from continuing operations					2,790	(13,533)	(507)
Investments in unconsolidated entities	$ 2,938				2,938	3,250	6,389
Property, plant and equipment additions					2,931	2,619	6,453
Depreciation, depletion and amortization					8,447	8,097	6,140
Total assets	$ 75,036				75,036	80,064	107,190
Gains (losses) on interest rate swaps and warrants, net					122	(423)	233
Impairment and related charges			$ 8,600				285
Anadarko Acquisition-related costs					153	339	1,647
Employee severance and related costs							1,000
Crucial seismic data							401
Bank, legal and consulting fees							213
Pre-tax adjustment expense (benefit)					$ 200	(1,900)	(245)
WES \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Segment Information
Gain on sale		$ 102
Number of shares sold (in shares) \| shares	2.5	11.5			14
Goodwill derecognized				$ 1,200
Oil and gas
Segment Information
Impairment and related charges			$ 6,400	$ 581
Operating segments \| Oil and gas
Segment Information
Net sales					$ 18,941	13,066	13,941
Income (loss) from continuing operations before income taxes					4,145	(9,632)	2,520
Income tax (expense) benefit					0	0	0
Income (loss) from continuing operations					4,145	(9,632)	2,520
Investments in unconsolidated entities	$ 154				154	168	181
Property, plant and equipment additions					2,458	2,279	5,571
Depreciation, depletion and amortization					7,741	7,414	5,153
Total assets	56,132				56,132	62,931	80,093
Pre-tax impairment charges					282		285
Gains (losses) on interest rate swaps and warrants, net					(280)	1,100
Impairment and related charges						7,100
Pre-tax loss on sale of properties						1,600
Gain on sale related to joint venture							475
Pre-tax impairment and related charges on domestic undeveloped leases							39
Operating segments \| Chemical
Segment Information
Net sales					5,246	3,733	4,102
Income (loss) from continuing operations before income taxes					1,544	664	799
Income tax (expense) benefit					0	0	0
Income (loss) from continuing operations					1,544	664	799
Investments in unconsolidated entities	608				608	645	689
Property, plant and equipment additions					316	261	272
Depreciation, depletion and amortization					343	356	368
Total assets	4,671				4,671	4,326	4,361
Operating segments \| Midstream and marketing
Segment Information
Net sales					2,863	1,768	4,132
Income (loss) from continuing operations before income taxes					257	(4,175)	241
Income tax (expense) benefit					0	0	0
Income (loss) from continuing operations					257	(4,175)	241
Investments in unconsolidated entities	2,176				2,176	2,437	5,519
Property, plant and equipment additions					107	50	475
Depreciation, depletion and amortization					325	312	563
Total assets	11,132				11,132	9,856	14,915
Operating segments \| Midstream and marketing \| Plains All American Pipeline, LP \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Segment Information
Pre-tax gain on sale of equity investment							114
Operating segments \| Midstream and marketing \| WES \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Segment Information
Gains (losses) on interest rate swaps and warrants, net					(252)
Gain on sale					$ 124
Number of shares sold (in shares) \| shares					11.5
Impairment of equity method investment						2,700
Goodwill derecognized						1,400
Equity method investment, loss from goodwill impairment						236
Charge upon loss of control							1,000
Operating segments \| Midstream and marketing \| Interest Rate Swaps \| WES \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Segment Information
Mark to market gain on interest rate swap							30
Corporate and eliminations
Segment Information
Net sales					$ (1,094)	(758)	(1,264)
Income (loss) from continuing operations before income taxes					(2,241)	(2,562)	(3,206)
Income tax (expense) benefit					(915)	2,172	(861)
Income (loss) from continuing operations					(3,156)	(390)	(4,067)
Investments in unconsolidated entities	0				0	0	0
Property, plant and equipment additions					50	29	135
Depreciation, depletion and amortization					38	15	56
Total assets	$ 3,101				3,101	2,951	$ 7,821
Anadarko Acquisition-related costs					153	339
Mark to market gain (loss) on interest rate swaps					122	$ (428)
Early debt extinguishment expenses					$ 118

INDUSTRY SEGMENTS AND GEOGRAP_4

INDUSTRY SEGMENTS AND GEOGRAPHIC AREAS - CORPORATE AND GEOGRAPHIC AREAS (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Information
Property, plant and equipment, net	$ 59,930	$ 65,889	$ 82,230
United States
Segment Information
Property, plant and equipment, net	53,197	59,016	72,808
Total Foreign
Segment Information
Property, plant and equipment, net	6,733	6,873	9,422
UAE
Segment Information
Property, plant and equipment, net	3,645	3,737	3,886
Oman
Segment Information
Property, plant and equipment, net	2,055	1,901	2,115
Algeria
Segment Information
Property, plant and equipment, net	496	664	1,761
Colombia
Segment Information
Property, plant and equipment, net	0	0	1,010
Qatar
Segment Information
Property, plant and equipment, net	468	510	563
Other International
Segment Information
Property, plant and equipment, net	$ 69	$ 61	$ 87

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for doubtful accounts
Valuation and qualifying accounts
Balance at Beginning of Period	$ 822	$ 788	$ 668
Charged to Costs and Expenses	56	37	126
Charged to Other Accounts	(11)	(3)	(6)
Deductions	0	0	0
Balance at End of Period	867	822	788
Valuation allowance and reserves, current	46	42	22
Environmental, litigation, tax and other reserves
Valuation and qualifying accounts
Balance at Beginning of Period	2,429	2,411	994
Charged to Costs and Expenses	900	115	182
Charged to Other Accounts	94	43	1,408
Deductions	(259)	(140)	(173)
Balance at End of Period	3,164	2,429	2,411
Environmental litigation tax and other reserves, current	$ 790	$ 149	$ 188