California Resources Corporation (CRC) financial statements (2021 and earlier)

Company profile

Business Address 27200 TOURNEY ROAD
SANTA CLARITA, CA 91355
State of Incorp. DE
Fiscal Year End December 31
SIC 1311 - Crude Petroleum and Natural Gas (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments28171720121214
Cash and cash equivalents28171720121214
Receivables177277299277232200308
Inventory, net of allowances, customer advances and progress billings61676956585871
Inventory61676956585871
Other current assets63130255130123227308
Total current assets:329491640483425497701
Noncurrent Assets
Finance lease, right-of-use asset1 
Operating lease, right-of-use asset38 
Property, plant and equipment 6,3526,4555,6965,8856,31211,685
Other noncurrent assets90115632844244111
Other undisclosed noncurrent assets2,616      
Total noncurrent assets:2,7456,4676,5185,7245,9296,55611,796
TOTAL ASSETS:3,0746,9587,1586,2076,3547,05312,497
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities473609607732626505906
Accounts payable212296390257219257588
Accrued liabilities261313217475407222318
Taxes payable     26 
Debt 28   100 
Other undisclosed current liabilities 72  100  
Total current liabilities:473709607732726605906
Noncurrent Liabilities
Long-term debt and lease obligation3538   6,0436,360
Long-term debt, excluding current maturities     6,0436,360
Finance lease, liability 1
Operating lease, liability3537
Liabilities, other than long-term debt8221,2099771,0051,0171,1733,017
Asset retirement obligations 489402403397343397
Deferred tax liabilities, net    2,055
Other liabilities822720575602620830565
Other undisclosed noncurrent liabilities5624,4965,0655,1905,168148(397)
Total noncurrent liabilities:1,4195,7436,0426,1956,1857,3648,980
Total liabilities:1,8926,4526,6496,9276,9117,9699,886
Temporary equity, carrying amount 802756    
Stockholders' equity
Stockholders' equity attributable to parent1,138(389)(361)(814)(557)(916)2,611
Common stock1    44
Additional paid in capital1,2685,0044,9874,8794,8614,7784,748
Accumulated other comprehensive loss(8)(23)(6)(23)(14)(15)(24)
Accumulated deficit(123)(5,370)(5,342)(5,670)(5,404)(5,683)(2,117)
Stockholders' equity attributable to noncontrolling interest449311494   
Total stockholders' equity:1,182(296)(247)(720)(557)(916)2,611
TOTAL LIABILITIES AND EQUITY:3,0746,9587,1586,2076,3547,05312,497

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues 2,6343,0642,0061,5472,4034,173
Revenue, net1,9361,621 2,617
Other operating income 423473160132109150
Cost of revenue (2,205)     
Gross profit: 4293,0642,0061,5472,4034,173
Operating expenses (319)(333)(281)(271)(354)(336)
Other operating expense, net (363)(399)(106)(79)(176)(207)
Other expenses    (79)(176)(207)
Other undisclosed operating income (loss) 682(1,563)(1,556)(1,503)  
Operating income (loss): 42976963(306)1,8733,630
Nonoperating income (expense) (131)(23)(97)30  
Investment income, nonoperating (59) (90)   
Other nonoperating income (expense) (72)(23)(7)30  
Interest and debt expense (383)(379)(343)(328)(326)(72)
Income (loss) from continuing operations before equity method investments, income taxes: (85)367(377)(604)1,5473,558
Other undisclosed income (loss) from continuing operations before income taxes 18562115805(7,023)(5,979)
Income (loss) from continuing operations before income taxes: 100429(262)201(5,476)(2,421)
Income tax expense (benefit) (1)  781,922987
Net income (loss): 99429(262)279(3,554)(1,434)
Net loss attributable to noncontrolling interest (127)(101)(4)   
Net income (loss) attributable to parent: (28)328(266)279(3,554)(1,434)
Undistributed earnings (loss) allocated to participating securities, basic  (7) 
Other undisclosed net loss available to common stockholders, basic    (6)  
Net income (loss) available to common stockholders, diluted: (28)321(266)273(3,554)(1,434)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss): 99429(262)279(3,554)(1,434)
Other comprehensive income (loss)     6(1)
Other undisclosed comprehensive loss  (530)    
Comprehensive income (loss): 99(101)(262)279(3,548)(1,435)
Comprehensive loss, net of tax, attributable to noncontrolling interest (127)(101)(4)   
Other undisclosed comprehensive income (loss), net of tax, attributable to parent (17)547(5)131
Comprehensive income (loss), net of tax, attributable to parent: (45)345(271)280(3,545)(1,434)

Statements sources

The financial statements are based on the company's filings with the 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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