OCCIDENTAL PETROLEUM CORPORATION FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$21.6B
Gross margin	— not reported
Operating income	— not reported
Net income	— not reported
Diluted EPS	$1.61
Cash & equivalents	$2.0B
Total assets	$84.2B
Long-term debt	$21.4B

Key takeaway

Realized oil prices tracked closely to benchmarks (100% of WTI, 95% of Brent) while WTI and Brent prices fell 14-15% year over year, pressuring revenue.

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Beneath the surface

Preferred dividends of $679 million were nearly as large as common dividends of $945 million, meaningfully reducing income available to common shareholders and explaining the gap between basic EPS ($1.65) and lower diluted EPS ($1.61).

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