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 investments30730528171720
Cash and cash equivalents30730528171720
Receivables359245177277299277
Inventory, net of allowances, customer advances and progress billings606061676956
Inventory606061676956
Disposal group, including discontinued operation522    
Other current assets13312163130255130
Total current assets:864753329491640483
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   1 
Operating lease, right-of-use asset   38 
Property, plant and equipment    6,3526,4555,696
Long-term investments and receivables13     
Long-term investments13     
Deferred income tax assets164396  
Other noncurrent assets14098901156328
Other undisclosed noncurrent assets2,7862,5992,616   
Total noncurrent assets:3,1033,0932,7456,4676,5185,724
TOTAL ASSETS:3,9673,8463,0746,9587,1586,207
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities643563473609607732
Accounts payable345266212296390257
Accrued liabilities298297261313217475
Debt    28  
Derivative instruments and hedges, liabilities246270    
Disposal group, including discontinued operation521    
Other undisclosed current liabilities    72  
Total current liabilities:894854473709607732
Noncurrent Liabilities
Long-term debt and lease obligation5925893538  
Long-term debt, excluding current maturities592589    
Finance lease, liability    1
Liabilities, other than long-term debt6177158221,2099771,005
Asset retirement obligations432438 489402403
Other liabilities185145822720575602
Operating lease, liability   3537
Derivative instruments and hedges, liabilities  132    
Other undisclosed noncurrent liabilities   5624,4965,0655,190
Total noncurrent liabilities:1,2091,3041,4195,7436,0426,195
Total liabilities:2,1032,1581,8926,4526,6496,927
Temporary equity, carrying amount    802756 
Equity
Equity, attributable to parent1,8641,6881,138(389)(361)(814)
Common stock111   
Treasury stock, value(461)(148)    
Additional paid in capital1,3051,2881,2685,0044,9874,879
Accumulated other comprehensive income (loss)8172(8)(23)(6)(23)
Retained earnings (accumulated deficit)938475(123)(5,370)(5,342)(5,670)
Equity, attributable to noncontrolling interest   449311494
Total equity:1,8641,6881,182(296)(247)(720)
TOTAL LIABILITIES AND EQUITY:3,9673,8463,0746,9587,1586,207

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
Revenues2,7071,889 2,6343,0642,006
Revenue, net1,936
Other operating income    423473160
Cost of revenue    (2,205)  
Gross profit:2,7071,889 4293,0642,006
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:812293 42976963
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:815289 (85)367(377)
Loss from equity method investments(1)     
Other undisclosed income (loss) from continuing operations before income taxes(53)(60) 18562115
Income (loss) from continuing operations before income taxes:761229 100429(262)
Income tax expense (benefit)(237)396 (1)  
Income (loss) from continuing operations:524625 99429(262)
Income (loss) before gain (loss) on sale of properties:62599429(262)
Net income (loss):524625 99429(262)
Net loss attributable to noncontrolling interest  (13) (127)(101)(4)
Net income (loss) attributable to parent:524612 (28)328(266)
Undistributed earnings (loss) allocated to participating securities, basic     (7) 
Net income (loss) available to common stockholders, diluted:524612 (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):524625 99429(262)
Other undisclosed comprehensive loss     (530) 
Comprehensive income (loss):524625 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 parent980 (17)547(5)
Comprehensive income (loss), net of tax, attributable to parent:533692 (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.

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