California Resources Corporation (CRC) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
1 WORLD TRADE CENTER LONG BEACH, CA 90831 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 1311 - Crude Petroleum and Natural Gas (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 3/31/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 307 | 305 | 28 | 17 | 17 | 20 | |||
| Cash and cash equivalents | 307 | 305 | 28 | 17 | 17 | 20 | |||
| Receivables | 359 | 245 | 177 | 277 | 299 | 277 | |||
| Inventory, net of allowances, customer advances and progress billings | 60 | 60 | 61 | 67 | 69 | 56 | |||
| Inventory | 60 | 60 | 61 | 67 | 69 | 56 | |||
| Disposal group, including discontinued operation | 5 | 22 | |||||||
| Other current assets | 133 | 121 | 63 | 130 | 255 | 130 | |||
| Total current assets: | 864 | 753 | 329 | 491 | 640 | 483 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 1 | ✕ | ✕ | ||||||
| Operating lease, right-of-use asset | 38 | ✕ | ✕ | ||||||
| Property, plant and equipment | 6,352 | 6,455 | 5,696 | ||||||
| Long-term investments and receivables | 13 | ||||||||
| Long-term investments | 13 | ||||||||
| Deferred income tax assets | 164 | 396 | ✕ | ✕ | |||||
| Other noncurrent assets | 140 | 98 | 90 | 115 | 63 | 28 | |||
| Other undisclosed noncurrent assets | 2,786 | 2,599 | 2,616 | ||||||
| Total noncurrent assets: | 3,103 | 3,093 | 2,745 | 6,467 | 6,518 | 5,724 | |||
| TOTAL ASSETS: | 3,967 | 3,846 | 3,074 | 6,958 | 7,158 | 6,207 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 643 | 563 | 473 | 609 | 607 | 732 | |||
| Accounts payable | 345 | 266 | 212 | 296 | 390 | 257 | |||
| Accrued liabilities | 298 | 297 | 261 | 313 | 217 | 475 | |||
| Debt | 28 | ||||||||
| Derivative instruments and hedges, liabilities | 246 | 270 | |||||||
| Disposal group, including discontinued operation | 5 | 21 | |||||||
| Other undisclosed current liabilities | 72 | ||||||||
| Total current liabilities: | 894 | 854 | 473 | 709 | 607 | 732 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 592 | 589 | 35 | 38 | |||||
| Long-term debt, excluding current maturities | 592 | 589 | |||||||
| Finance lease, liability | 1 | ✕ | ✕ | ||||||
| Liabilities, other than long-term debt | 617 | 715 | 822 | 1,209 | 977 | 1,005 | |||
| Asset retirement obligations | 432 | 438 | 489 | 402 | 403 | ||||
| Other liabilities | 185 | 145 | 822 | 720 | 575 | 602 | |||
| Operating lease, liability | 35 | 37 | ✕ | ✕ | |||||
| Derivative instruments and hedges, liabilities | 132 | ||||||||
| Other undisclosed noncurrent liabilities | 562 | 4,496 | 5,065 | 5,190 | |||||
| Total noncurrent liabilities: | 1,209 | 1,304 | 1,419 | 5,743 | 6,042 | 6,195 | |||
| Total liabilities: | 2,103 | 2,158 | 1,892 | 6,452 | 6,649 | 6,927 | |||
| Temporary equity, carrying amount | 802 | 756 | |||||||
| Equity | |||||||||
| Equity, attributable to parent | 1,864 | 1,688 | 1,138 | (389) | (361) | (814) | |||
| Common stock | 1 | 1 | 1 | ||||||
| Treasury stock, value | (461) | (148) | |||||||
| Additional paid in capital | 1,305 | 1,288 | 1,268 | 5,004 | 4,987 | 4,879 | |||
| Accumulated other comprehensive income (loss) | 81 | 72 | (8) | (23) | (6) | (23) | |||
| Retained earnings (accumulated deficit) | 938 | 475 | (123) | (5,370) | (5,342) | (5,670) | |||
| Equity, attributable to noncontrolling interest | 44 | 93 | 114 | 94 | |||||
| Total equity: | 1,864 | 1,688 | 1,182 | (296) | (247) | (720) | |||
| TOTAL LIABILITIES AND EQUITY: | 3,967 | 3,846 | 3,074 | 6,958 | 7,158 | 6,207 | |||
Income Statement (P&L) ($ in millions)
| 3/31/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,707 | 1,889 | 2,634 | 3,064 | 2,006 | |||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1,936 | |
| Other operating income | 423 | 473 | 160 | |||||
| Cost of revenue | (2,205) | |||||||
| Gross profit: | 2,707 | 1,889 | 429 | 3,064 | 2,006 | |||
| Operating expenses | (212) | (161) | (319) | (333) | (281) | |||
| Other operating expense, net | (48) | (29) | (363) | (399) | (106) | |||
| Other expenses | (8) | |||||||
| Other undisclosed operating income (loss) | (1,635) | (1,406) | 682 | (1,563) | (1,556) | |||
| Operating income: | 812 | 293 | 429 | 769 | 63 | |||
| Nonoperating income (expense) | 3 | (2) | (131) | (23) | (97) | |||
| Investment income, nonoperating | (59) | (90) | ||||||
| Other nonoperating income (expense) | 3 | (2) | (72) | (23) | (7) | |||
| Interest and debt expense | (2) | (383) | (379) | (343) | ||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 815 | 289 | (85) | 367 | (377) | |||
| Loss from equity method investments | (1) | |||||||
| Other undisclosed income (loss) from continuing operations before income taxes | (53) | (60) | 185 | 62 | 115 | |||
| Income (loss) from continuing operations before income taxes: | 761 | 229 | 100 | 429 | (262) | |||
| Income tax expense (benefit) | (237) | 396 | (1) | |||||
| Income (loss) from continuing operations: | 524 | 625 | 99 | 429 | (262) | |||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 625 | ✕ | 99 | 429 | (262) | ||
| Net income (loss): | 524 | 625 | 99 | 429 | (262) | |||
| Net loss attributable to noncontrolling interest | (13) | (127) | (101) | (4) | ||||
| Net income (loss) attributable to parent: | 524 | 612 | (28) | 328 | (266) | |||
| Undistributed earnings (loss) allocated to participating securities, basic | (7) | |||||||
| Net income (loss) available to common stockholders, diluted: | 524 | 612 | (28) | 321 | (266) | |||
Comprehensive Income ($ in millions)
| 3/31/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 524 | 625 | 99 | 429 | (262) | |||
| Other undisclosed comprehensive loss | (530) | |||||||
| Comprehensive income (loss): | 524 | 625 | 99 | (101) | (262) | |||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (13) | (127) | (101) | (4) | ||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 9 | 80 | (17) | 547 | (5) | |||
| Comprehensive income (loss), net of tax, attributable to parent: | 533 | 692 | (45) | 345 | (271) | |||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.