| Schedule of Long-term Debt |
As of June 30, 2025 and December 31, 2024, Occidental’s debt consisted of the following:
| | | | | | | | | | | | | | millions | June 30, 2025 | December 31, 2024 | | | | | 5.500% senior notes due 2025 | $ | — | | $ | 465 | | | | | | 5.875% senior notes due 2025 | — | | 536 | | | | | | 5.550% senior notes due 2026 | — | | 870 | | | | | | 3.400% senior notes due 2026 | 284 | | 284 | | | | | | Two-year term loan due 2026 (6.036% and 6.249% as of June 30, 2025 and December 31, 2024, respectively) | 2,300 | | 2,700 | | | | | | 3.200% senior notes due 2026 | 182 | | 182 | | | | | | 7.500% debentures due 2026 | 112 | | 112 | | | | | | 8.500% senior notes due 2027 | 489 | | 489 | | | | | | 3.000% senior notes due 2027 | 216 | | 216 | | | | | | 7.125% debentures due 2027 | 150 | | 150 | | | | | | 7.000% debentures due 2027 | 48 | | 48 | | | | | | 5.000% senior notes due 2027 | 600 | | 600 | | | | | | 6.625% debentures due 2028 | 14 | | 14 | | | | | | 7.150% debentures due 2028 | 232 | | 232 | | | | | | 7.200% senior debentures due 2028 | 82 | | 82 | | | | | | 6.375% senior notes due 2028 | 578 | | 578 | | | | | | 7.200% debentures due 2029 | 135 | | 135 | | | | | | 7.950% debentures due 2029 | 116 | | 116 | | | | | | 8.450% senior notes due 2029 | 116 | | 116 | | | | | | 3.500% senior notes due 2029 | 286 | | 286 | | | | | | 5.200% senior notes due 2029 | 1,200 | | 1,200 | | | | | | Variable rate bonds due 2030 (3.950% and 5.710% as of June 30, 2025 and December 31, 2024, respectively) | 68 | | 68 | | | | | | 8.875% senior notes due 2030 | 1,000 | | 1,000 | | | | | | 6.625% senior notes due 2030 | 1,449 | | 1,449 | | | | | | 6.125% senior notes due 2031 | 1,143 | | 1,143 | | | | | | 7.500% senior notes due 2031 | 900 | | 900 | | | | | | 7.875% senior notes due 2031 | 500 | | 500 | | | | | | 5.375% senior notes due 2032 | 1,000 | | 1,000 | | | | | | 5.550% senior notes due 2034 | 1,200 | | 1,200 | | | | | | 6.450% senior notes due 2036 | 1,727 | | 1,727 | | | | | | | Zero Coupon senior notes due 2036 | 673 | | 673 | | | | | | 0.000% loan due 2039 (CAD denominated) | 17 | | 18 | | | | | | 4.300% senior notes due 2039 | 247 | | 247 | | | | | | 7.950% senior notes due 2039 | 325 | | 325 | | | | | | 6.200% senior notes due 2040 | 737 | | 737 | | | | | | 4.500% senior notes due 2044 | 191 | | 191 | | | | | | 4.625% senior notes due 2045 | 296 | | 296 | | | | | | 6.600% senior notes due 2046 | 1,117 | | 1,117 | | | | | | 4.400% senior notes due 2046 | 424 | | 424 | | | | | | | (continued on next page) | | | | | | |
| | | | | | | | | | | | | | millions (continued) | June 30, 2025 | December 31, 2024 | | | | | 4.100% senior notes due 2047 | 258 | | 258 | | | | | | 4.200% senior notes due 2048 | 304 | | 304 | | | | | | 4.400% senior notes due 2049 | 280 | | 280 | | | | | | 6.050% senior notes due 2054 | 1,000 | | 1,000 | | | | | | 7.730% debentures due 2096 | 58 | | 58 | | | | | | 7.500% debentures due 2096 | 60 | | 60 | | | | | | 7.250% debentures due 2096 | 5 | | 5 | | | | | | | Total borrowings at face value | $ | 22,119 | | $ | 24,391 | | | | | |
The following table summarizes Occidental's outstanding debt, including finance lease liabilities:
| | | | | | | | | | millions | June 30, 2025 | December 31, 2024 | | Total borrowings at face value | $ | 22,119 | | $ | 24,391 | | | Adjustments to book value: | | | | Unamortized premium, net | 972 | | 1,037 | | | Debt issuance costs | (95) | | (105) | | | Net book value of debt | $ | 22,996 | | $ | 25,323 | | | Long-term finance leases | 631 | | 658 | | | Current finance leases | 148 | | 135 | | | Total debt and finance leases | $ | 23,775 | | $ | 26,116 | | | Less: current finance leases | (148) | | (135) | | | Less: current maturities of long-term debt | (285) | | (1,003) | | | Long-term debt, net | $ | 23,342 | | $ | 24,978 | |
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