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Chevron Corporation (NYS: CVX)

Exchange rate used is that of the Year End reported date

As Reported Annual Balance Sheet

Report Date 12/31/2021 12/31/2020 12/31/2019
Currency USD USD USD
Audit Status Not Qualified Not Qualified Not Available
Consolidated Yes Yes Yes
Scale Millions Millions Millions
Cash & cash equivalents 5640 5596 5686

Time deposits - - -
Marketable securities 35 31 63
Accounts & notes receivable, gross 18722 11755 14071
Allowance for doubtful accounts 303 284 746
Accounts & notes receivable 18419 11471 13325
Crude oil & petroleum products 4248 3576 3722
Chemicals 565 457 492
Materials, supplies & other inventories 1492 1643 1634
Total inventories 6305 5676 5848
Prepaid expenses & other current assets 3339 3304 3407
Total current assets 33738 26078 28329
Long-term receivables, net 603 589 1511
Investments & advances 40696 39052 38688
Properties, plant & equipment, at cost 336045 345232 326722
Less: accumulated depreciation, depletion & amortization 189084 188614 176228
Properties, plant & equipment, net 146961 156618 150494
Deferred charges & other assets 12384 11950 10532
Goodwill 4385 4402 4463
Assets held for sale 768 1101 3411
Total assets 239535 239790 237428
Commercial paper - 5612 4654
Notes payable to banks & others with originating terms of one y 62 15 228
Current maturities of long-term debt 4946 2600 5054
Current maturities of long-term finance leases 48 186 18
Redeemable long term obligations 2959 2960 3078
Subtotal short-term debt 8015 11373 13032
Reclassified to long-term debt -7759 -9825 -9750
Short-term debt 256 1548 3282
Accounts payable 16454 10950 14103

Accrued liabilities 6972 7812 6589

Federal & other taxes on income 1700 921 1554
Other taxes payable 1409 952 1002
Total current liabilities 26791 22183 26530
Notes 24516 28400 16150

Floating rate notes 1800 2450 1900

Debentures 345 454 424
Amortizing bank loans - - -
Loan 218 218 -
Bank loans 239 1948 218
Medium-term notes 23 37 38
Total including debt due within one year 27141 33507 18730
Less: debt due within one year 4946 2600 5054
Fair market valuation adjustment of noble long-term debt 741 1690 -
Reclassified from short-term debt 7759 9825 9750
Less: unamortized debt discount - - -17
Unamortized discounts & debt issuance costs -31 -102 -
Capital lease obligations - - 282
Finance lease liabilities 449 447 -
Long-term debt 31113 42767 23691
Capital lease obligations - - -
Deferred credits & other noncurrent obligations 20778 20328 20445
Noncurrent deferred income taxes 14665 12569 13688
Noncurrent employee benefit plans 6248 9217 7866
Reserves for employee benefit plans - - -
Total liabilities 99595 107064 92220
Common stock 1832 1832 1832
Capital in excess of par value 17282 16829 17265
Retained earnings 165546 160377 174945
Currency translation adjustments -162 -107 -142
Unrealized net holding gain (loss) on securities -11 -10 -8
Derivatives - - -
Net derivatives gain (loss) on hedge transactions - - -
Defined benefit plans -3716 -5495 -4840
Accumulated other comprehensive income (loss) -3889 -5612 -4990
Deferred compensation & benefit plan trust -240 -240 -240
Treasury stock 41464 41498 44599
Total Chevron Corporation stockholders' equity 139067 131688 144213
Noncontrolling interests 873 1038 995
Total equity 139940 132726 145208

As Reported Annual Income Statement

Report Date 12/31/2021 12/31/2020 12/31/2019
Currency USD USD USD
Audit Status Not Qualified Not Qualified Not Available
Consolidated Yes Yes Yes
Scale Millions Millions Millions
Sales & other operating revenues 155606 94471 139865
Income (loss) from equity affiliates 5657 -472 3968
Other income 1202 693 2683
Total revenues & other income 162465 94692 146516
Purchased crude oil & products 89372 50488 80113
Operating expenses 20726 20323 21385
Selling, general & administrative expenses 4014 4213 4143
Exploration expenses 549 1537 770
Depreciation, depletion & amortization expenses 17925 19508 29218
Taxes other than on income 6840 4499 4136
Total financing interest & debt costs 775 735 817
Less: capitalized interest 63 38 19
Interest & debt expense 712 697 798
Other components of net periodic benefit costs 688 880 417
Total costs & other deductions 140826 102145 140980
Income (loss) before income taxes - U.S. 9674 -5700 -5483
Income (loss) before income taxes - international 11965 -1753 11019
Income (loss) before income tax expense 21639 -7453 5536
Current U.S. federal income tax expense (benefit) 174 -182 -73
Deferred U.S. federal income tax expense (benefit) 1004 -1315 -1074
Current state & local income tax expense (benefit) 222 65 153
Deferred state & local income tax expense (benefit) 202 -152 -172
Total U.S. income tax expense (benefit) 1602 -1584 -1166
Current international income tax expense (benefit) 4854 1833 4577
Deferred international income tax expense (benefit) -506 -2141 -720
Total international income tax expense (benefit) 4348 -308 -
Income tax expense (benefit) 5950 -1892 2691
Net income (loss) 15689 -5561 2845
Less: net income (loss) attributable to noncontrolling interests -64 18 79
Net income (loss) attributable to Chevron Corporation 15625 -5543 2924
Weighted average shares outstanding - basic 1916 1870 1882
Weighted average shares outstanding - diluted 1920 1870 1895
Year end shares outstanding 1929.806 1925.186 1882.168
Net income (loss) per share - basic 8.15 -2.96 1.55
Net income (loss) per share - diluted 8.14 -2.96 1.54
Dividends per common share 5.31 5.16 4.76
Total number of employees 42595 47736 48200
Number of common stockholders 109000 114000 118000
Foreign currency translation adjustments -55 35 -18

As Reported Annual Retained Earnings

Report Date 12/31/2021 12/31/2020 12/31/2019
Currency USD USD USD
Audit Status Not Qualified Not Qualified Not Available
Consolidated Yes Yes Yes
Scale Millions Millions Millions
Previous retained earnings 160377 174945 180987
NBLX Acquisition -148 - -
Cash dividends 10179 9651 8959
Stock dividends 3 5 3
Other changes, net -126 631 -4
Retained earnings 165546 160377 174945

As Reported Annual Cash Flow

Report Date 12/31/2021 12/31/2020 12/31/2019
Currency USD USD USD
Audit Status Not Qualified Not Qualified Not Available
Consolidated Yes Yes Yes
Scale Millions Millions Millions
Net income (loss) 15689 -5561 2845
Depreciation, depletion & amortization 17925 19508 29218
Dry hole expense 118 1036 172
Distributions more (less) than income from equity affiliates -1998 2015 -2073
Net before-tax losses (gains) on asset retirements & sales -1021 -760 -1367
Net foreign currency effects -7 619 272
Deferred income tax provision 700 -3604 -1966
Accounts & notes receivable -7548 2423 1852
Inventories -530 284 7
Prepaid expenses & other current assets 19 -87 -323
Accounts payable & accrued liabilities 5475 -3576 -109
Income & other taxes payable 1223 -696 67
Operating working capital -1361 -1652 1494
Long-term receivables 21 296 502
Other deferred charges -320 -248 -69
Cash contributions to employee pension plans -1751 -1213 -1362
Other operating activities 1192 141 -352
Net cash flows from operating activities 29187 10577 27314
Cash acquired from Noble Energy, Inc. - 373 -
Capital expenditures -8056 -8922 -14116
Proceeds & deposits related to asset sales & returns of invest 1791 2968 2951
Net maturities of (investments in) time deposits - - 950
Proceeds & deposits related to asset sales - - -
Net sales (purchases) of marketable securities -1 35 2
Net repayment (borrowing) of loans by equity affiliates 401 -1419 -1245
Repayment of loans by equity affiliates - - -
Net sales (purchases) of other short-term investments - - -
Net cash flows from investing activities -5865 -6965 -11458
Net borrowings (repayments) of short-term obligations -5572 651 -2821
Proceeds from issuances of long-term debt - 12308 -
Repayments of long-term debt & other financing obligations -7364 -5489 -5025
Cash dividends - common stock -10179 -9651 -8959
Net contributions from (distributions to) noncontrolling interests -36 -24 -18
Net sales (purchases) of treasury shares 38 -1531 -2935
Net cash flows from financing activities -23113 -3736 -19758
Effect of exchange rate changes on cash, cash equivalents & r -151 -50 332
Net change in cash, cash equivalents & restricted cash 58 -174 -3570
Cash, cash equivalents & restricted cash at January 1 6737 6911 10481
Cash, cash equivalents & restricted cash at December 31 6795 6737 6911
Effect of exchange rate changes on cash & equivalents - - -
Net change in cash & cash equivalents - - -
Cash & cash equivalents at beginning of year - - -
Cash & cash equivalents at end of year - - -
Interest expense paid on debt (net of capitalized interest) - - -
Income taxes paid - - -
 Productivity Ratios
As Reported Annual Balance
Sheet
Report Date 12/31/2021 12/31/2020
Currency USD USD
Audit Status Not Qualified Not Qualified
Consolidated Yes Yes
12/31/2018 12/31/2017 Scale Millions Millions
USD USD Accounts & notes receivable 18419 11471
Not Available Not Qualified Total inventories 6305 5676
Yes Yes
Millions Millions
9342 4813
As Reported Annual Income
950 - Statement
53 9 Total revenues & other income 162465 94692
15919 15843
869 490
15050 15353
3383 3142 8.60 9.73
487 476
1834 1967
5704 5585
2922 2800
34021 28560
1942 2849
35546 32497
340244 344485 42.42 37.52
171037 166773
169207 177712
6766 7017
4518 4531
1863 640
253863 253806
7503 5379
28 - 25.767644726 16.682875264
4999 6720
18 15
3078 3078
15626 15192
-9900 -10000
5726 5192
13953 14565
As Reported Annual Balance
4927 5267 Sheet
 1628 1600 Report Date 12/31/2021 12/31/2020
937 1113 Currency USD USD
27171 27737 Total equity 139940 132726
20500 25500
As Reported Annual Income
2550 4200 Statement
424 424 Year end shares outstanding 1929.806 1925.186
- 72
- -
218 -
38 38
23730 30234
5000 6722
- -
9900 10000
-24 -35
- -
127 -
- -
28733 33477
- 94
19742 21106
15921 14652
6654 -
- 7421
98221 104487
1832 1832
17112 16848 70.73 73.00
180987 174106
-124 -105
-10 -5
-2 -
- -2
-3408 -3477
-3544 -3589
-240 -240
41593 40833
154554 148124
1088 1195
155642 149319

12/31/2018 12/31/2017
USD USD
Not Available Not Qualified
Yes Yes
Millions Millions
158902 134674
6327 4438
1110 2610
166339 141722 139860
 94578 75765
20544 19437
3838 4448
1210 864
19419 19349
4867 12331
921 902
173 595
748 307
560 -
145764 132501
4730 -441
15845 9662
20575 9221
-181 -382
738 -2561
183 -97
-16 66
724 -2974
4662 3634
329 -708
- -
5715 -48
14860 9269
-36 -74
14824 9195
1897 1882
1914 1898
1902.838 1904.702
7.81 4.88
7.74 4.85
4.48 -
48600 51900
124000 131000
-19 57

12/31/2018 12/31/2017
USD USD
Not Available Not Qualified
Yes Yes
Millions Millions
174106 173046
- -
8502 8132
3 3
562 -
180987 174106

12/31/2018 12/31/2017
 USD USD
Not Available Not Qualified
Yes Yes
Millions Millions
14860 9269
19419 19349
687 198
-3580 -2214
-619 -2195
123 131
1050 -3203
437 -915
-424 -267
-149 252
-494 875
-88 531
-718 476
418 -368
- -199
-1035 -980
13 251
30618 20515
- -
-13792 -13404
2392 -
-950 -
- 5247
-51 4
111 -
- -16
- -32
-12290 -8201
2021 -5142
218 3991
-6741 -6310
-8502 -8132
-91 -78
-604 1117
-13699 -14554
-91 -
4538 -
5943 -
10481 -
- 65
- -2175
- 6988
- 4813
- 265
- 3132
tios

Average (Years 2021-2017)

12/31/2019 12/31/2018 12/31/2017 2021- 2020 2020-19 2019-18
USD USD USD USD USD USD
Not Available Not Available Not Qualified Not Qualified Not Qualified Not Qualified
Yes Yes Yes Yes Yes Yes
Millions Millions Millions Millions Millions Millions
13325 15050 15353 14945 12398 14187.5
5848 5704 5585 5990.5 5762 5776

Average (Years 2021-2017)

146516 166339 141722 128578.5 120604 156427.5

11.03 10.13

33.10 36.02

25.054035568 29.161816269

VALUATION RATIOS

Average (Years 2021-2017)

12/31/2019 12/31/2018 12/31/2017 2021- 2020 2020-19 2019-18
USD USD USD USD USD USD
145208 155642 149319 136333 138967 150425

1882.168 1902.838 1904.702 1927.496 1903.677 1892.503

Forward Dividend 6.04

EPS 18.28
Share Price 162.41

8.88

3.72%

79.48 80.09
17)
2018-17
USD
Not Qualified
Yes Chevron AR
Millions
15201.5
5644.5

128578.5 120604 156427.5

17)
154030.5 128578.5 6899 799
257157 127503 157226.5

Productivity Ratios (Chevron)

2021- 2020 2020-19

Total revenues & other income(in mi 128578.5 120604
Notes & accounts receivable - net 14945.00 12398.00
Ratio(ReceviableTurnover) 8.60 9.73

2021- 2020 2020-19

Average Collection Period 42.42 37.52

2021- 2020 2020-19

Total revenues & other income 128578.5 120604
Total Inventories 5990.5 5762
Ratio(Inventory Turnover) 21.46 20.93

17)
2018-17
USD
152481

1903.770
 Column1

Mean 5936.4444444
Standard Error 2483.7982345
Median 3339 2
Mode #N/A 3
Standard Devia7451.3947035 4
Sample Varian 55523283.028 5
Kurtosis 0.1636349649 6
154030.5 Skewness 1.3151759358 7
Range 18687 8

Minimum 35 9
89 Maximum 18722 10
154119.5 Sum 53428 11
Count 9 12
13
14
15
uctivity Ratios (Chevron) 16

2019-18 2018-17
156427.5 154030.5
14187.50 15201.50
11.03 10.13

2019-18 2018-17
33.10 36.02

2019-18 2018-17
156427.5 154030.5
5776 5644.5
27.08 27.29

Valuation Ratos
 2021- 2020 2020-19 2019-18
Total equity 136333 138967 150425

Year end shares outstanding 1927.50 1903.68 1892.50

Ratio(BVPS) 70.73 73.00 79.48

Forward Dividend per share 6.04

EPS 18.28
Share Price 162.41

P/E Ratio(TTM) 8.88

Dividend Yield 3.72%
2021 2020 2019
P/E ratio in last 5 years 14.4 -28.5 77.7
1
2018-17
152480.5

1903.77
80.09

2018 2017
13.9 25.7
Total equity 139940 132726 145208 155642 149319

Year end shares outstanding 1929.806 1925.186 1882.168 1902.838 1904.702

Share price
162.41
 136333 138967 150425 152481

1927.496 1903.677 1892.503 1903.770

70.7306267 72.9992535 79.4846825 80.0939714

Forward Dividend
8.88 6.04
3.72%

175683000
As Reported Annual Balance
Sheet
Report Date 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017
Currency USD USD USD USD USD
Audit Status Not Not Not Not Not
Qualified Qualified Available Available Qualified
Consolidated Yes Yes Yes Yes Yes
Scale Millions Millions Millions Millions Millions
Cash & cash equivalents 5640 5596 5686 9342 4813
Time deposits - - - 950 -
Marketable securities 35 31 63 53 9
Accounts & notes receivable, gross 18722 11755 14071 15919 15843
Allowance for doubtful accounts 303 284 746 869 490
Accounts & notes receivable 18419 11471 13325 15050 15353
Total inventories 6305 5676 5848 5704 5585

As Reported Annual Income

Statement
Sales & other operating revenues 155606 94471 139865 158902 134674
Income (loss) from equity affiliates 5657 -472 3968 6327 4438
Other income 1202 693 2683 1110 2610
Total revenues & other income 162465 94692 146516 166339 141722
2021- 2020 2020-19 2019-18 2018-17

14945 12398 14187.5 15201.5

5990.5 5762 5776 5644.5

128578.5 120604 156427.5 154030.5

8.60344597 9.72769802 11.0257269 10.1325856

42.4248611 37.521724 33.1043934 36.0223949

21.4637342 20.9309268 27.0823234 27.2885995