Chevron corp
NYSE: CVX $120.52 -0.23%
Balance Sheet
At
ASSETS March 31 2019 (Millions of dollars) December 31 2018 (Millions of dollars)
ASSETS
Cash and cash equivalents 8,699 9,342
Time deposits 0 950
Marketable securities 56 53
Accounts and notes receivable, net 14,928 15,050
Inventories
Crude oil and petroleum products 4,481 3,383
Chemicals 488 487
Materials, supplies and other 1,754 1,834
Total inventories 6,723 5,704
Prepaid expenses and other current assets 3,265 2,922
Total Current Assets 33,671 34,021
Long-term receivables, net 2,019 1,942
Investments and advances 36,360 35,546
Properties, plant and equipment, at cost 336,701 340,244
Less: Accumulated depreciation, depletion and amortization 169,969 171,037
Properties, plant and equipment, net 166,732 169,207
Deferred charges and other assets 10,866 6,766
Goodwill 4,507 4,518
Assets held for sale 2,654 1,863
Total Assets 256,809 253,863
LIABILITIES AND EQUITY
Short-term debt 7,023 5,726
Accounts payable 14,230 13,953
Accrued liabilities 5,880 4,927
Federal and other taxes on income 1,971 1,628
Other taxes payable 847 937
Total Current Liabilities 29,951 27,171
Long-term debt 26,064 28,733
Deferred credits and other noncurrent obligations 22,197 19,742
Noncurrent deferred income taxes 16,099 15,921
Noncurrent employee benefit plans 6,380 6,654
Total Liabilities* 100,691 98,221
Preferred stock (authorized 100,000,000 shares, $1.00 par value, none issued) 0 0
Common stock (authorized 6,000,000,000 shares; $0.75 par value; 2,442,676,580 shares issued at March 31, 2019, and December 31, 2018) 1,832 1,832
Capital in excess of par value 17,146 17,112
Retained earnings 181,387 180,987
Accumulated other comprehensive loss -3,459 -3,544
Deferred compensation and benefit plan trust -240 -240
Treasury stock, at cost (537,950,519 and 539,838,890 shares at March 31, 2019, and December 31, 2018, respectively) -41,621 -41,593
Total Chevron Corporation Stockholders Equity 155,045 154,554
Noncontrolling interests 1,073 1,088
Total Equity 156,118 155,642
Total Liabilities and Equity 256,809 253,863
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* Refer to Note 13, "Other Contingencies and Commitments" beginning on page 21.
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Statements of Income
Three Months Ended March 31
2019 2018
(Millions of dollars, except per-share amounts)
Revenues and Other Income
Sales and other operating revenues 34,189 35,968
Income from equity affiliates 1,062 1,637
Other income (loss) -51 159
Total Revenues and Other Income 35,200 37,764
Costs and Other Deductions
Purchased crude oil and products 19,703 21,233
Operating expenses 4,886 4,701
Selling, general and administrative expenses 984 723
Exploration expenses 189 158
Depreciation, depletion and amortization 4,094 4,289
Taxes other than on income 1,061 1,344
Interest and debt expense 225 159
Other components of net periodic benefit costs 101 84
Total Costs and Other Deductions 31,243 32,691
Income Before Income Tax Expense 3,957 5,073
Income Tax Expense 1,315 1,414
Net Income 2,642 3,659
Less: Net income (loss) attributable to noncontrolling interests -7 21
Net Income Attributable to Chevron Corporation 2,649 3,638
Per Share of Common Stock:
Net Income Attributable to Chevron Corporation
Basic 1.40 1.92
Diluted 1.39 1.90
Weighted Average Number of Shares Outstanding (000s)
Basic 1,888,002 1,895,990
Diluted 1,900,748 1,913,218
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Cash Flows
Three Months Ended March 31
2019 2018
(Millions of dollars)
Operating Activities
Net Income (Loss) 2,642 3,659
Adjustments
Depreciation, depletion and amortization 4,094 4,289
Dry hole expense 86 45
Distributions less than income from equity affiliates -513 -998
Net before-tax loss (gain) on asset retirements and sales 80 -12
Net foreign currency effects 141 63
Deferred income tax provision 73 383
Net decrease (increase) in operating working capital -1,210 -2,104
Decrease (increase) in long-term receivables 66 128
Net decrease (increase) in other deferred charges -62 -12
Cash contributions to employee pension plans -326 -149
Other -14 -249
Net Cash Provided by Operating Activities 5,057 5,043
Investing Activities
Capital expenditures -2,953 -2,997
Proceeds and deposits related to asset sales and returns of investment 294 111
Net maturities of (investments in) time deposits 950 0
Net sales (purchases) of marketable securities 2 -29
Net repayment (borrowing) of loans by equity affiliates -321 26
Net Cash Used for Investing Activities -2,028 -2,889
Financing Activities
Net borrowings (repayments) of short-term obligations 936 3,214
Proceeds from issuance of long-term debt 0 73
Repayments of long-term debt and other financing obligations -2,506 -2,331
Cash dividends common stock -2,244 -2,124
Distributions to noncontrolling interests -6 -11
Net sales (purchases) of treasury shares -15 566
Net Cash Used for Financing Activities -3,835 -613
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash 20 33
Net Change in Cash, Cash Equivalents and Restricted Cash -786 1,574
Cash, Cash Equivalents and Restricted Cash at January 1 10,481 5,943
Cash, Cash Equivalents and Restricted Cash at March 31 9,695 7,517
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