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 investments | 305 | 28 | 17 | 17 | 20 | 12 | 12 | ||
| Cash and cash equivalents | 305 | 28 | 17 | 17 | 20 | 12 | 12 | ||
| Receivables | 245 | 177 | 277 | 299 | 277 | 232 | 200 | ||
| Inventory, net of allowances, customer advances and progress billings | 60 | 61 | 67 | 69 | 56 | 58 | 58 | ||
| Inventory | 60 | 61 | 67 | 69 | 56 | 58 | 58 | ||
| Disposal group, including discontinued operation | 22 | ||||||||
| Other current assets | 121 | 63 | 130 | 255 | 130 | 123 | 227 | ||
| Total current assets: | 753 | 329 | 491 | 640 | 483 | 425 | 497 | ||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset | 1 | ✕ | ✕ | ✕ | ✕ | ||||
| Operating lease, right-of-use asset | 38 | ✕ | ✕ | ✕ | ✕ | ||||
| Property, plant and equipment | 6,352 | 6,455 | 5,696 | 5,885 | 6,312 | ||||
| Deferred income tax assets | 396 | ✕ | ✕ | ✕ | ✕ | ||||
| Other noncurrent assets | 98 | 90 | 115 | 63 | 28 | 44 | 244 | ||
| Other undisclosed noncurrent assets | 2,599 | 2,616 | |||||||
| Total noncurrent assets: | 3,093 | 2,745 | 6,467 | 6,518 | 5,724 | 5,929 | 6,556 | ||
| TOTAL ASSETS: | 3,846 | 3,074 | 6,958 | 7,158 | 6,207 | 6,354 | 7,053 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 563 | 473 | 609 | 607 | 732 | 626 | 505 | ||
| Accounts payable | 266 | 212 | 296 | 390 | 257 | 219 | 257 | ||
| Accrued liabilities | 297 | 261 | 313 | 217 | 475 | 407 | 222 | ||
| Taxes payable | 26 | ||||||||
| Debt | 28 | 100 | |||||||
| Derivative instruments and hedges, liabilities | 270 | ||||||||
| Disposal group, including discontinued operation | 21 | ||||||||
| Other undisclosed current liabilities | 72 | 100 | |||||||
| Total current liabilities: | 854 | 473 | 709 | 607 | 732 | 726 | 605 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 589 | 35 | 38 | 6,043 | |||||
| Long-term debt, excluding current maturities | 589 | 6,043 | |||||||
| Finance lease, liability | 1 | ✕ | ✕ | ✕ | ✕ | ||||
| Operating lease, liability | 35 | 37 | ✕ | ✕ | ✕ | ✕ | |||
| Liabilities, other than long-term debt | 715 | 822 | 1,209 | 977 | 1,005 | 1,017 | 1,173 | ||
| Asset retirement obligations | 438 | 489 | 402 | 403 | 397 | 343 | |||
| Other liabilities | 145 | 822 | 720 | 575 | 602 | 620 | 830 | ||
| Derivative instruments and hedges, liabilities | 132 | ||||||||
| Other undisclosed noncurrent liabilities | 562 | 4,496 | 5,065 | 5,190 | 5,168 | 148 | |||
| Total noncurrent liabilities: | 1,304 | 1,419 | 5,743 | 6,042 | 6,195 | 6,185 | 7,364 | ||
| Total liabilities: | 2,158 | 1,892 | 6,452 | 6,649 | 6,927 | 6,911 | 7,969 | ||
| Temporary equity, carrying amount | 802 | 756 | |||||||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 1,688 | 1,138 | (389) | (361) | (814) | (557) | (916) | ||
| Common stock | 1 | 1 | 4 | ||||||
| Treasury stock, value | (148) | ||||||||
| Additional paid in capital | 1,288 | 1,268 | 5,004 | 4,987 | 4,879 | 4,861 | 4,778 | ||
| 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 | 44 | 93 | 114 | 94 | |||||
| Total stockholders' equity: | 1,688 | 1,182 | (296) | (247) | (720) | (557) | (916) | ||
| TOTAL LIABILITIES AND EQUITY: | 3,846 | 3,074 | 6,958 | 7,158 | 6,207 | 6,354 | 7,053 | ||
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 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,889 | 2,634 | 3,064 | 2,006 | 1,547 | 2,403 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 1,936 | 1,621 | ||
| Other operating income | 423 | 473 | 160 | 132 | 109 | |||
| Cost of revenue | (2,205) | |||||||
| Gross profit: | 1,889 | 429 | 3,064 | 2,006 | 1,547 | 2,403 | ||
| 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 | 429 | 769 | 63 | (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) | 185 | 62 | 115 | 805 | (7,023) | ||
| Income (loss) from continuing operations before income taxes: | 229 | 100 | 429 | (262) | 201 | (5,476) | ||
| Income tax expense (benefit) | 396 | (1) | 78 | 1,922 | ||||
| Net income (loss): | 625 | 99 | 429 | (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 | 99 | 429 | (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 parent | 80 | (17) | 547 | (5) | 1 | 3 | ||
| 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.