California Resources Corporation (CRC) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments305281717201212
Cash and cash equivalents305281717201212
Receivables245177277299277232200
Inventory, net of allowances, customer advances and progress billings60616769565858
Inventory60616769565858
Disposal group, including discontinued operation22      
Other current assets12163130255130123227
Total current assets:753329491640483425497
Noncurrent Assets
Finance lease, right-of-use asset 1 
Operating lease, right-of-use asset 38 
Property, plant and equipment  6,3526,4555,6965,8856,312
Deferred income tax assets396  
Other noncurrent assets9890115632844244
Other undisclosed noncurrent assets2,5992,616     
Total noncurrent assets:3,0932,7456,4676,5185,7245,9296,556
TOTAL ASSETS:3,8463,0746,9587,1586,2076,3547,053
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities563473609607732626505
Accounts payable266212296390257219257
Accrued liabilities297261313217475407222
Taxes payable      26
Debt  28   100
Derivative instruments and hedges, liabilities270      
Disposal group, including discontinued operation21      
Other undisclosed current liabilities  72  100 
Total current liabilities:854473709607732726605
Noncurrent Liabilities
Long-term debt and lease obligation5893538   6,043
Long-term debt, excluding current maturities589     6,043
Finance lease, liability  1
Operating lease, liability 3537
Liabilities, other than long-term debt7158221,2099771,0051,0171,173
Asset retirement obligations438 489402403397343
Other liabilities145822720575602620830
Derivative instruments and hedges, liabilities132      
Other undisclosed noncurrent liabilities 5624,4965,0655,1905,168148
Total noncurrent liabilities:1,3041,4195,7436,0426,1956,1857,364
Total liabilities:2,1581,8926,4526,6496,9276,9117,969
Temporary equity, carrying amount  802756   
Stockholders' equity
Stockholders' equity attributable to parent1,6881,138(389)(361)(814)(557)(916)
Common stock11    4
Treasury stock, value(148)      
Additional paid in capital1,2881,2685,0044,9874,8794,8614,778
Accumulated other comprehensive income (loss)72(8)(23)(6)(23)(14)(15)
Retained earnings (accumulated deficit)475(123)(5,370)(5,342)(5,670)(5,404)(5,683)
Stockholders' equity attributable to noncontrolling interest 449311494  
Total stockholders' equity:1,6881,182(296)(247)(720)(557)(916)
TOTAL LIABILITIES AND EQUITY:3,8463,0746,9587,1586,2076,3547,053

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues1,889 2,6343,0642,0061,5472,403
Revenue, net1,9361,621 
Other operating income  423473160132109
Cost of revenue  (2,205)    
Gross profit:1,889 4293,0642,0061,5472,403
Operating expenses(161) (319)(333)(281)(271)(354)
Other operating expense, net(29) (363)(399)(106)(79)(176)
Other expenses(8)    (79)(176)
Other undisclosed operating income (loss)(1,406) 682(1,563)(1,556)(1,503) 
Operating income (loss):293 42976963(306)1,873
Nonoperating income (expense)(2) (131)(23)(97)30 
Investment income, nonoperating  (59) (90)  
Other nonoperating income (expense)(2) (72)(23)(7)30 
Interest and debt expense(2) (383)(379)(343)(328)(326)
Income (loss) from continuing operations before equity method investments, income taxes:289 (85)367(377)(604)1,547
Other undisclosed income (loss) from continuing operations before income taxes(60) 18562115805(7,023)
Income (loss) from continuing operations before income taxes:229 100429(262)201(5,476)
Income tax expense (benefit)396 (1)  781,922
Net income (loss):625 99429(262)279(3,554)
Net loss attributable to noncontrolling interest(13) (127)(101)(4)  
Net income (loss) attributable to parent:612 (28)328(266)279(3,554)
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:612 (28)321(266)273(3,554)

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):625 99429(262)279(3,554)
Other comprehensive income      6
Other undisclosed comprehensive loss   (530)   
Comprehensive income (loss):625 99(101)(262)279(3,548)
Comprehensive loss, net of tax, attributable to noncontrolling interest(13) (127)(101)(4)  
Other undisclosed comprehensive income (loss), net of tax, attributable to parent80 (17)547(5)13
Comprehensive income (loss), net of tax, attributable to parent:692 (45)345(271)280(3,545)

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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