California Resources Corp (CRC) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues [+]	2,707	1,889	2,634	3,064	2,006	1,547	2,403	4,173
Oil & gas sales							2,134	1,447
Revenue growth	43.3%		-14.0%	52.7%	29.7%	-35.6%	-42.4%	-2.6%
Cost of goods sold	1,954	1,720	2,205	2,295	1,933	800	983	1,150
Gross profit	753	169	429	769	73	747	1,420	3,023
Gross margin	27.8%	8.9%	16.3%	25.1%	3.6%	48.3%	59.1%	72.4%
Selling, general and administrative [+]	384	345	447	448	385	379	534	519
Sales and marketing	222	200	290	299	249	235	354	302
General and administrative [+]	162	145	157	149	136	144	180	217
General and administrative expenses								217
Operating taxes	162	145	157	149	136	144	180	217
Other selling, general and administrative	222	200	290	299	249	235	354	302
Equity in earnings	-1
Other operating expenses [+]	-702	-828	-918	-950	-929	102	172	253
Exploration expenses	4	7	29	34	22	23	36	139
EBITDA [+]	1,070	652	900	1,271	617	266	714	2,251
EBITDA growth	64.1%		-29.2%	106.0%	132.0%	-62.7%	-68.3%	-13.1%
EBITDA margin	39.5%	34.5%	34.2%	41.5%	30.8%	17.2%	29.7%	53.9%
Depreciation and amortization	198	213	471	502	544	559	1,004	1,198
EBIT [+]	872	439	429	769	73	-293	-290	1,053
EBIT growth	98.6%		-44.2%	953.4%	-124.9%	1.0%	-127.5%	-27.2%
EBIT margin	32.2%	23.2%	16.3%	25.1%	3.6%	-18.9%	-12.1%	25.2%
Non-recurring items [+]	61	146					4,852	3,402
Asset impairment	2	28					4,852	3,402
Loss (gain) on sale of assets	59	124
Interest expense	53	54	383	379	343	328	326	72
Interest expense	53	54	383	379	343	328	326	72
Other income (expense), net [+]	3	-10	54	39	8	822	-8
Gain (loss) on sale of assets				5	21	30
Gain (loss) on debt retirement		-2	126	57	4	805	20
Other non-ooperating expenses			-72	-23	-17	-13	-28
Other	3	-2	-72	-23	17	13	28
Pre-tax income	761	229	100	429	-262	201	-5,476	-2,421
Income taxes	237	-396	1	0	0	-78	-1,922	-987
Tax rate	31.1%		1.0%	0.0%	0.0%		35.1%	40.8%
Minority interest		13	127	101	4
Net income	524	612	-28	328	-266	279	-3,554	-1,434
Net margin	19.4%	32.4%	-1.1%	10.7%	-13.3%	18.0%	-147.9%	-34.4%

Basic EPS [+]	$6.94	$7.46	($0.57)	$6.92	($6.26)	$6.91	($92.79)	($37.54)
Growth	-7.0%		-108.3%	-210.6%	-190.6%	-107.4%	147.2%	-1749.3%
Diluted EPS [+]	$6.75	$7.37	($0.57)	$6.92	($6.26)	$6.91	($92.79)	($37.54)
Growth	-8.4%		-108.3%	-210.6%	-190.6%	-107.4%	147.2%	-1749.3%

Dividends per share [+]	$0.79	$0.17					$0.30
Growth	366.2%					-100.0%

Shares outstanding (basic) [+]	76	82	49	47	43	40	38	38
Growth	-7.9%		3.4%	11.5%	5.2%	5.5%	0.3%	-90.0%
Shares outstanding (diluted) [+]	78	83	49	47	43	40	38	38
Growth	-6.5%		3.4%	11.5%	5.2%	5.5%	0.3%	-90.0%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.