Chevron (CVX) 10-K25 Feb 212020 FY Annual reportFinancial data

Company Profile

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2020	Feb. 10, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-00368
Entity Registrant Name	Chevron Corp
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-0890210
Entity Address, Address Line One	6001 Bollinger Canyon Road
Entity Address, City or Town	San Ramon,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94583-2324
City Area Code	925
Local Phone Number	842-1000
Title of 12(b) Security	Common stock, par value $.75 per share
Trading Symbol	CVX
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 166.6
Entity Common Stock, Shares Outstanding		1,926,376,764
Documents Incorporated by Reference	Notice of the 2021 Annual Meeting and 2021 Proxy Statement, to be filed pursuant to Rule 14a-6(b) under the Securities Exchange Act of 1934, in connection with the company’s 2021 Annual Meeting of Stockholders (in Part III)
Entity Central Index Key	0000093410
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) $ in Millions	12 Months Ended
Consolidated Statement of Income - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues and Other Income
Sales and other operating revenues	$ 94,471	$ 139,865	$ 158,902
Income (loss) from equity affiliates	(472)	3,968	6,327
Other income	693	2,683	1,110
Total Revenues and Other Income	94,692	146,516	166,339
Costs and Other Deductions
Purchased crude oil and products	50,488	80,113	94,578
Operating expenses	20,323	21,385	20,544
Selling, general and administrative expenses	4,213	4,143	3,838
Exploration expenses	1,537	770	1,210
Depreciation, depletion and amortization	19,508	29,218	19,419
Taxes other than on income	4,499	4,136	4,867
Interest and debt expense	697	798	748
Other components of net periodic benefit costs	880	417	560
Total Costs and Other Deductions	102,145	140,980	145,764
Income (Loss) Before Income Tax Expense	(7,453)	5,536	20,575
Income Tax Expense (Benefit)	(1,892)	2,691	5,715
Net Income (Loss)	(5,561)	2,845	14,860
Less: Net income (loss) attributable to noncontrolling interests	(18)	(79)	36
Net Income (Loss) Attributable to Chevron Corporation	$ (5,543)	$ 2,924	$ 14,824
Net Income (Loss) Attributable to Chevron Corporation
– Basic (in dollars per share)	$ (2.96)	$ 1.55	$ 7.81
– Diluted (in dollars per share)	$ (2.96)	$ 1.54	$ 7.74

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ (5,561)	$ 2,845	$ 14,860
Currency translation adjustment
Unrealized net change arising during period	35	(18)	(19)
Unrealized holding gain (loss) on securities
Net gain (loss) arising during period	(2)	2	(5)
Derivatives
Net derivatives loss on hedge transactions	0	(1)	0
Income taxes on derivatives transactions	0	3	0
Total	0	2	0
Actuarial gain (loss)
Amortization to net income of net actuarial loss and settlements	1,107	519	792
Actuarial gain (loss) arising during period	(2,004)	(2,404)	85
Prior service credits (cost)
Amortization to net income of net prior service costs and curtailments	(23)	4	(13)
Prior service (costs) credits arising during period	0	(28)	(26)
Defined benefit plans sponsored by equity affiliates - benefit (cost)	(104)	(33)	23
Income tax benefit (cost) on defined benefit plans	369	510	(230)
Total	(655)	(1,432)	631
Other Comprehensive Gain (Loss), Net of Tax	(622)	(1,446)	607
Comprehensive Income	(6,183)	1,399	15,467
Comprehensive loss (income) attributable to noncontrolling interests	18	79	(36)
Comprehensive Income (Loss) Attributable to Chevron Corporation	$ (6,165)	$ 1,478	$ 15,431

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions		Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents		$ 5,596	$ 5,686
Marketable securities		31	63
Accounts and notes receivable (less allowance: 2020 - $284; 2019 - $746)		11,471	13,325
Inventories:
Crude oil and petroleum products		3,576	3,722
Chemicals		457	492
Materials, supplies and other		1,643	1,634
Total inventories		5,676	5,848
Prepaid expenses and other current assets		3,304	3,407
Total Current Assets		26,078	28,329
Long-term receivables, net		589	1,511
Investments and advances		39,052	38,688
Properties, plant and equipment, at cost		345,232	326,722
Less: Accumulated depreciation, depletion and amortization		188,614	176,228
Properties, plant and equipment, net		156,618	150,494
Deferred charges and other assets		11,950	10,532
Goodwill		4,402	4,463
Assets held for sale		1,101	3,411
Total Assets		239,790	237,428
Liabilities and Equity
Short-term debt		1,548	3,282
Accounts payable		10,950	14,103
Accrued liabilities		7,812	6,589
Federal and other taxes on income		921	1,554
Other taxes payable		952	1,002
Total Current Liabilities		22,183	26,530
Long-term debt	[1]	42,767	23,691
Deferred credits and other noncurrent obligations		20,328	20,445
Noncurrent deferred income taxes		12,569	13,688
Noncurrent employee benefit plans		9,217	7,866
Total Liabilities	[2]	107,064	92,220
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 December 31,2020 and 2019)		1,832	1,832
Capital in excess of par value		16,829	17,265
Retained earnings		160,377	174,945
Accumulated other comprehensive losses		(5,612)	(4,990)
Deferred compensation and benefit plan trust		(240)	(240)
Treasury stock, at cost (2020 - 517,490,263 shares; 2019 - 560,508,479 shares)		(41,498)	(44,599)
Total Chevron Corporation Stockholders’ Equity		131,688	144,213
Noncontrolling interests (2020 includes $120 redeemable noncontrolling interest)		1,038	995
Total Equity		132,726	145,208
Total Liabilities and Equity		$ 239,790	$ 237,428

[1]	Includes finance lease liabilities of $447 and $282 at December 31, 2020 and 2019, respectively.
[2]	Refer to Note 22, "Other Contingencies and Commitments" beginning on page 92.

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for accounts and notes receivable, current	$ 284	$ 746
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, par value (usd per share)	$ 1	$ 1
Preferred stock, shares issued (in shares)	0	0
Common stock, shares authorized (in shares)	6,000,000,000	6,000,000,000
Common stock, par value (usd per share)	$ 0.75	$ 0.75
Common stock, shares issued (in shares)	2,442,676,580	2,442,676,580
Treasury stock, shares (in shares)	517,490,263	560,508,479
Redeemable mezzanine equity	$ 120
Finance lease liabilities	$ 447	$ 282

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating Activities
Net Income (Loss)	$ (5,561)	$ 2,845	$ 14,860
Adjustments
Depreciation, depletion and amortization	19,508	29,218	19,419
Dry hole expense	1,036	172	687
Distributions more (less) than income from equity affiliates	2,015	(2,073)	(3,580)
Net before-tax gains on asset retirements and sales	(760)	(1,367)	(619)
Net foreign currency effects	619	272	123
Deferred income tax provision	(3,604)	(1,966)	1,050
Net decrease (increase) in operating working capital	(1,652)	1,494	(718)
Decrease (increase) in long-term receivables	296	502	418
Net decrease (increase) in other deferred charges	(248)	(69)	0
Cash contributions to employee pension plans	(1,213)	(1,362)	(1,035)
Other	141	(352)	13
Net Cash Provided by Operating Activities	10,577	27,314	30,618
Investing Activities
Cash acquired from Noble Energy, Inc.	373	0	0
Capital expenditures	(8,922)	(14,116)	(13,792)
Proceeds and deposits related to asset sales and returns of investment	2,968	2,951	2,392
Net maturities of (investments in) time deposits	0	950	(950)
Net sales (purchases) of marketable securities	35	2	(51)
Net repayment (borrowing) of loans by equity affiliates	(1,419)	(1,245)	111
Net Cash Used for Investing Activities	(6,965)	(11,458)	(12,290)
Financing Activities
Net borrowings (repayments) of short-term obligations	651	(2,821)	2,021
Proceeds from issuances of long-term debt	12,308	0	218
Repayments of long-term debt and other financing obligations	(5,489)	(5,025)	(6,741)
Cash dividends - common stock	(9,651)	(8,959)	(8,502)
Distributions to noncontrolling interests	(24)	(18)	(91)
Net sales (purchases) of treasury shares	(1,531)	(2,935)	(604)
Net Cash Provided by (Used for) Financing Activities	(3,736)	(19,758)	(13,699)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	(50)	332	(91)
Net Change in Cash, Cash Equivalents and Restricted Cash	(174)	(3,570)	4,538
Cash, Cash Equivalents and Restricted Cash at January 1	6,911	10,481	5,943
Cash, Cash Equivalents and Restricted Cash at December 31	$ 6,737	$ 6,911	$ 10,481

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($) $ in Millions		Total	Noble	Chevron Corp. Stockholders' Equity	Chevron Corp. Stockholders' EquityNoble	Common Stock	[1]	Common StockNoble	[1]	Retained Earnings	Acc. Other Comprehensive Income (Loss)	Treasury Stock (at cost)	Treasury Stock (at cost)Noble	Noncontrolling Interests	Noncontrolling InterestsNoble
Balance at January 1 at Dec. 31, 2017		$ 149,319		$ 148,124		$ 18,440				$ 174,106	$ (3,589)	$ (40,833)		$ 1,195
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		264		264		264
Net Income (Loss)		14,860		14,824						14,824				36
Cash dividends		(8,593)		(8,502)						(8,502)				(91)
Stock dividends		(3)		(3)						(3)
Other comprehensive income		607		607							607
Purchases of treasury shares		(1,751)		(1,751)								(1,751)
Issuances of treasury shares		991		991								991
Other changes, net		(52)		0						562	(562)			(52)
Balance at December 31 at Dec. 31, 2018		$ 155,642		154,554		18,704				180,987	(3,544)	(41,593)		1,088
Beginning balance, shares issued (in shares) at Dec. 31, 2017	[2]	2,442,676,580
Beginning balance, treasury shares (in shares) at Dec. 31, 2017		(537,974,695)
Beginning balance, shares outstanding (in shares) at Dec. 31, 2017		1,904,701,885
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)		(14,912,039)
Issuances (in shares)		13,047,844
Ending balance, shares issued (in shares) at Dec. 31, 2018	[2]	2,442,676,580
Ending balance, treasury shares (in shares) at Dec. 31, 2018		(539,838,890)
Ending balance, shares outstanding (in shares) at Dec. 31, 2018		1,902,837,690
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		$ 153		153		153
Net Income (Loss)		2,845		2,924						2,924				(79)
Cash dividends		(8,977)		(8,959)						(8,959)				(18)
Stock dividends		(3)		(3)						(3)
Other comprehensive income		(1,446)		(1,446)							(1,446)
Purchases of treasury shares		(4,039)		(4,039)								(4,039)
Issuances of treasury shares		1,033		1,033								1,033
Other changes, net		0		(4)						(4)				4
Balance at December 31 at Dec. 31, 2019		$ 145,208		144,213		18,857				174,945	(4,990)	(44,599)		995
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)		(33,955,300)
Issuances (in shares)		13,285,711
Ending balance, shares issued (in shares) at Dec. 31, 2019	[2]	2,442,676,580
Ending balance, treasury shares (in shares) at Dec. 31, 2019		(560,508,479)
Ending balance, shares outstanding (in shares) at Dec. 31, 2019		1,882,168,101
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		$ 84		84		84
Noble Acquisition	[3]		$ 4,888		$ 4,109			$ (520)					$ 4,629		$ 779
Net Income (Loss)		(5,561)		(5,543)						(5,543)				(18)
Cash dividends		(9,675)		(9,651)						(9,651)				(24)
Stock dividends		(5)		(5)						(5)
Other comprehensive income		(622)		(622)							(622)
Purchases of treasury shares		(1,757)		(1,757)								(1,757)
Issuances of treasury shares		229		229								229
Other changes, net		(63)		631						631				(694)
Balance at December 31 at Dec. 31, 2020		$ 132,726		$ 131,688		$ 18,421				$ 160,377	$ (5,612)	$ (41,498)		$ 1,038
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)		(17,577,457)
Issuances (in shares)		60,595,673
Ending balance, shares issued (in shares) at Dec. 31, 2020	[2]	2,442,676,580
Ending balance, treasury shares (in shares) at Dec. 31, 2020		(517,490,263)
Ending balance, shares outstanding (in shares) at Dec. 31, 2020		1,925,186,317

[1]	Beginning and ending balances for all periods include capital in excess of par, common stock issued at par for $1,832, and $(240) associated with Chevron's Benefit Plan Trust. Changes reflect capital in excess of par.
[2]	Beginning and ending total issued share balances include 14,168,000 shares associated with Chevron's Benefit Plan Trust.
[3]	Includes $120 redeemable noncontrolling interest.

Consolidated Statement of Equ_2

Consolidated Statement of Equity (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Common stock issued at par	$ 1,832	$ 1,832	$ 1,832
Benefit Plan Trust	$ (240)	$ (240)	$ (240)
Number of Chevron treasury stocks held in benefit plan trust for funding obligations (in shares)	14,168,000	14,168,000	14,168,000
Redeemable mezzanine equity	$ 120

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies General The company’s Consolidated Financial Statements are prepared in accordance with accounting principles generally accepted in the United States of America. These require the use of estimates and assumptions that affect the assets, liabilities, revenues and expenses reported in the financial statements, as well as amounts included in the notes thereto, including discussion and disclosure of contingent liabilities. Although the company uses its best estimates and judgments, actual results could differ from these estimates as circumstances change and additional information becomes known. Subsidiary and Affiliated Companies The Consolidated Financial Statements include the accounts of controlled subsidiary companies more than 50 percent-owned and any variable interest entities in which the company is the primary beneficiary. Undivided interests in oil and gas joint ventures and certain other assets are consolidated on a proportionate basis. Investments in and advances to affiliates in which the company has a substantial ownership interest of approximately 20 percent to 50 percent, or for which the company exercises significant influence but not control over policy decisions, are accounted for by the equity method. Investments in affiliates are assessed for possible impairment when events indicate that the fair value of the investment may be below the company’s carrying value. When such a condition is deemed to be other than temporary, the carrying value of the investment is written down to its fair value, and the amount of the write-down is included in net income. In making the determination as to whether a decline is other than temporary, the company considers such factors as the duration and extent of the decline, the investee’s financial performance, and the company’s ability and intention to retain its investment for a period that will be sufficient to allow for any anticipated recovery in the investment’s market value. The new cost basis of investments in these equity investees is not changed for subsequent recoveries in fair value. Differences between the company’s carrying value of an equity investment and its underlying equity in the net assets of the affiliate are assigned to the extent practicable to specific assets and liabilities based on the company’s analysis of the various factors giving rise to the difference. When appropriate, the company’s share of the affiliate’s reported earnings is adjusted quarterly to reflect the difference between these allocated values and the affiliate’s historical book values. Noncontrolling Interests Ownership interests in the company’s subsidiaries held by parties other than the parent are presented separately from the parent’s equity on the Consolidated Balance Sheet. The amount of consolidated net income attributable to the parent and the noncontrolling interests are both presented on the face of the Consolidated Statement of Income and Consolidated Statement of Equity. Included within noncontrolling interest is redeemable noncontrolling interest. Fair Value Measurements The three levels of the fair value hierarchy of inputs the company uses to measure the fair value of an asset or a liability are as follows. Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or liability. Level 3 inputs are inputs that are not observable in the market. Derivatives The majority of the company’s activity in derivative commodity instruments is intended to manage the financial risk posed by physical transactions. For some of this derivative activity, generally limited to large, discrete or infrequently occurring transactions, the company may elect to apply fair value or cash flow hedge accounting. For other similar derivative instruments, generally because of the short-term nature of the contracts or their limited use, the company does not apply hedge accounting, and changes in the fair value of those contracts are reflected in current income. For the company’s commodity trading activity, gains and losses from derivative instruments are reported in current income. The company may enter into interest rate swaps from time to time as part of its overall strategy to manage the interest rate risk on its debt. Interest rate swaps related to a portion of the company’s fixed-rate debt, if any, may be accounted for as fair value hedges. Interest rate swaps related to floating-rate debt, if any, are recorded at fair value on the balance sheet with resulting gains and losses reflected in income. Where Chevron is a party to master netting arrangements, fair value receivable and payable amounts recognized for derivative instruments executed with the same counterparty are generally offset on the balance sheet. Inventories Crude oil, petroleum products and chemicals inventories are generally stated at cost, using a last-in, first-out method. In the aggregate, these costs are below market. “Materials, supplies and other” inventories are primarily stated at cost or net realizable value. Properties, Plant and Equipment The successful efforts method is used for crude oil and natural gas exploration and production activities. All costs for development wells, related plant and equipment, proved mineral interests in crude oil and natural gas properties, and related asset retirement obligation (ARO) assets are capitalized. Costs of exploratory wells are capitalized pending determination of whether the wells found proved reserves. Costs of wells that are assigned proved reserves remain capitalized. Costs also are capitalized for exploratory wells that have found crude oil and natural gas reserves even if the reserves cannot be classified as proved when the drilling is completed, provided the exploratory well has found a sufficient quantity of reserves to justify its completion as a producing well and the company is making sufficient progress assessing the reserves and the economic and operating viability of the project. All other exploratory wells and costs are expensed. Refer to Note 19 , beginning on page 85, for additional discussion of accounting for suspended exploratory well costs. Long-lived assets to be held and used, including proved crude oil and natural gas properties, are assessed for possible impairment by comparing their carrying values with their associated undiscounted, future net cash flows. Events that can trigger assessments for possible impairments include write-downs of proved reserves based on field performance, significant decreases in the market value of an asset (including changes to the commodity price forecast), significant change in the extent or manner of use of or a physical change in an asset, and a more-likely-than-not expectation that a long-lived asset or asset group will be sold or otherwise disposed of significantly sooner than the end of its previously estimated useful life. Impaired assets are written down to their estimated fair values, generally their discounted, future net cash flows. For proved crude oil and natural gas properties, the company performs impairment reviews on a country, concession, PSC, development area or field basis, as appropriate. In Downstream, impairment reviews are performed on the basis of a refinery, a plant, a marketing/lubricants area or distribution area, as appropriate. Impairment amounts are recorded as incremental “Depreciation, depletion and amortization” expense. Long-lived assets that are held for sale are evaluated for possible impairment by comparing the carrying value of the asset with its fair value less the cost to sell. If the net book value exceeds the fair value less cost to sell, the asset is considered impaired and adjusted to the lower value. Refer to Note 7 , beginning on page 71, relating to fair value measurements. The fair value of a liability for an ARO is recorded as an asset and a liability when there is a legal obligation associated with the retirement of a long-lived asset and the amount can be reasonably estimated. Refer also to Note 23 , on page 94, relating to AROs. Depreciation and depletion of all capitalized costs of proved crude oil and natural gas producing properties, except mineral interests, are expensed using the unit-of-production method, generally by individual field, as the proved developed reserves are produced. Depletion expenses for capitalized costs of proved mineral interests are recognized using the unit-of-production method by individual field as the related proved reserves are produced. Impairments of capitalized costs of unproved mineral interests are expensed. The capitalized costs of all other plant and equipment are depreciated or amortized over their estimated useful lives. In general, the declining-balance method is used to depreciate plant and equipment in the United States; the straight-line method is generally used to depreciate international plant and equipment and to amortize finance lease right-of-use assets. Gains or losses are not recognized for normal retirements of properties, plant and equipment subject to composite group amortization or depreciation. Gains or losses from abnormal retirements are recorded as expenses, and from sales as “Other income.” Expenditures for maintenance (including those for planned major maintenance projects), repairs and minor renewals to maintain facilities in operating condition are generally expensed as incurred. Major replacements and renewals are capitalized. Leases Leases are classified as operating or finance leases. Both operating and finance leases recognize lease liabilities and associated right-of-use assets. The company has elected the short-term lease exception and therefore only recognizes right-of-use assets and lease liabilities for leases with a term greater than one year. The company has elected the practical expedient to not separate non-lease components from lease components for most asset classes except for certain asset classes that have significant non-lease (i.e., service) components. Where leases are used in joint ventures, the company recognizes 100 percent of the right-of-use assets and lease liabilities when the company is the sole signatory for the lease (in most cases, where the company is the operator of a joint venture). Lease costs reflect only the costs associated with the operator’s working interest share. The lease term includes the committed lease term identified in the contract, taking into account renewal and termination options that management is reasonably certain to exercise. The company uses its incremental borrowing rate as a proxy for the discount rate based on the term of the lease unless the implicit rate is available. Goodwill Goodwill resulting from a business combination is not subject to amortization. The company tests such goodwill at the reporting unit level for impairment annually at December 31, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. Environmental Expenditures Environmental expenditures that relate to ongoing operations or to conditions caused by past operations are expensed. Expenditures that create future benefits or contribute to future revenue generation are capitalized. Liabilities related to future remediation costs are recorded when environmental assessments or cleanups or both are probable and the costs can be reasonably estimated. For crude oil, natural gas and mineral-producing properties, a liability for an ARO is made in accordance with accounting standards for asset retirement and environmental obligations. Refer to Note 23 , on page 94, for a discussion of the company’s AROs. For federal Superfund sites and analogous sites under state laws, the company records a liability for its designated share of the probable and estimable costs, and probable amounts for other potentially responsible parties when mandated by the regulatory agencies because the other parties are not able to pay their respective shares. The gross amount of environmental liabilities is based on the company’s best estimate of future costs using currently available technology and applying current regulations and the company’s own internal environmental policies. Future amounts are not discounted. Recoveries or reimbursements are recorded as assets when receipt is reasonably assured. Currency Translation The U.S. dollar is the functional currency for substantially all of the company’s consolidated operations and those of its equity affiliates. For those operations, all gains and losses from currency remeasurement are included in current period income. The cumulative translation effects for those few entities, both consolidated and affiliated, using functional currencies other than the U.S. dollar are included in “Currency translation adjustment” on the Consolidated Statement of Equity. Revenue Recognition The company accounts for each delivery order of crude oil, natural gas, petroleum and chemical products as a separate performance obligation. Revenue is recognized when the performance obligation is satisfied, which typically occurs at the point in time when control of the product transfers to the customer. Payment is generally due within 30 days of delivery. The company accounts for delivery transportation as a fulfillment cost, not a separate performance obligation, and recognizes these costs as an operating expense in the period when revenue for the related commodity is recognized. Revenue is measured as the amount the company expects to receive in exchange for transferring commodities to the customer. The company’s commodity sales are typically based on prevailing market-based prices and may include discounts and allowances. Until market prices become known under terms of the company’s contracts, the transaction price included in revenue is based on the company’s estimate of the most likely outcome. Discounts and allowances are estimated using a combination of historical and recent data trends. When deliveries contain multiple products, an observable standalone selling price is generally used to measure revenue for each product. The company includes estimates in the transaction price only to the extent that a significant reversal of revenue is not probable in subsequent periods. Stock Options and Other Share-Based Compensation The company issues stock options and other share-based compensation to certain employees. For equity awards, such as stock options, total compensation cost is based on the grant date fair value, and for liability awards, such as stock appreciation rights, total compensation cost is based on the settlement value. The company recognizes stock-based compensation expense for all awards over the service period required to earn the award, which is the shorter of the vesting period or the time period in which an employee becomes eligible to retain the award at retirement. The company’s Long-Term Incentive Plan (LTIP) awards include stock options and stock appreciation rights, which have graded vesting provisions by which one-third of each award vests on each of the first, second and third anniversaries of the date of grant. In addition, performance shares granted under the company’s LTIP will vest at the end of the three

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Losses	12 Months Ended
Changes in Accumulated Other Comprehensive Losses	Dec. 31, 2020
Equity [Abstract]
Changes in Accumulated Other Comprehensive Losses	Changes in Accumulated Other Comprehensive Losses The change in Accumulated Other Comprehensive Losses (AOCL) presented on the Consolidated Balance Sheet and the impact of significant amounts reclassified from AOCL on information presented in the Consolidated Statement of Income for the year ended December 31, 2020, are reflected in the table below. Currency Translation Adjustments Unrealized Holding Gains (Losses) on Securities Derivatives Defined Benefit Plans Total Balance at December 31, 2017 $ (105) $ (5) $ (2) $ (3,477) $ (3,589) Components of Other Comprehensive Income (Loss) 1 : Before Reclassifications (19) (5) — 28 4 Reclassifications 2 — — — 603 603 Net Other Comprehensive Income (Loss) (19) (5) — 631 607 Stranded Tax Reclassification to Retained Earnings 3 — — — (562) (562) Balance at December 31, 2018 $ (124) $ (10) $ (2) $ (3,408) $ (3,544) Components of Other Comprehensive Income (Loss) 1 : Before Reclassifications (18) 2 (1) (1,838) (1,855) Reclassifications 2 — — 3 406 409 Net Other Comprehensive Income (Loss) (18) 2 2 (1,432) (1,446) Balance at December 31, 2019 $ (142) $ (8) $ — $ (4,840) $ (4,990) Components of Other Comprehensive Income (Loss) 1 : Before Reclassifications 35 (2) — (1,487) (1,454) Reclassifications 2 — — — 832 832 Net Other Comprehensive Income (Loss) 35 (2) — (655) (622) Balance at December 31, 2020 $ (107) $ (10) $ — $ (5,495) $ (5,612) 1 All amounts are net of tax. 2 Refer to Note 21 beginning on page 87, for reclassified components totaling $1,084 that are included in employee benefit costs for the year ended December 31, 2020. Related income taxes for the same period, totaling $252, are reflected in Income Tax Expense on the Consolidated Statement of Income. All other reclassified amounts were insignificant.

Information Relating to the Con

Information Relating to the Consolidated Statement of Cash Flows	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Information Relating to the Consolidated Statement of Cash Flows	Information Relating to the Consolidated Statement of Cash Flows Year ended December 31 2020 2019 2018 Distributions more (less) than income from equity affiliates includes the following: Distributions from equity affiliates $ 1,543 $ 1,895 $ 2,747 (Income) loss from equity affiliates 472 (3,968) (6,327) Distributions more (less) than income from equity affiliates $ 2,015 $ (2,073) $ (3,580) Net decrease (increase) in operating working capital was composed of the following: Decrease (increase) in accounts and notes receivable $ 2,423 $ 1,852 $ 437 Decrease (increase) in inventories 284 7 (424) Decrease (increase) in prepaid expenses and other current assets (87) (323) (149) Increase (decrease) in accounts payable and accrued liabilities (3,576) (109) (494) Increase (decrease) in income and other taxes payable (696) 67 (88) Net decrease (increase) in operating working capital $ (1,652) $ 1,494 $ (718) Net cash provided by operating activities includes the following cash payments: Interest on debt (net of capitalized interest) $ 720 $ 810 $ 736 Income taxes 2,987 4,817 4,748 Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts: Proceeds and deposits related to asset sales $ 2,891 $ 2,809 $ 2,000 Returns of investment from equity affiliates 77 142 392 Proceeds and deposits related to asset sales and returns of investment $ 2,968 $ 2,951 $ 2,392 Net maturities (investments) of time deposits consisted of the following gross amounts: Investments in time deposits $ — $ — $ (950) Maturities of time deposits — 950 — Net maturities of (investments in) time deposits $ — $ 950 $ (950) Net sales (purchases) of marketable securities consisted of the following gross amounts: Marketable securities purchased $ — $ (1) $ (51) Marketable securities sold 35 3 — Net sales (purchases) of marketable securities $ 35 $ 2 $ (51) Net repayment (borrowing) of loans by equity affiliates: Borrowing of loans by equity affiliates $ (3,925) $ (1,350) $ — Repayment of loans by equity affiliates 2,506 105 111 Net repayment (borrowing) of loans by equity affiliates $ (1,419) $ (1,245) $ 111 Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts: Proceeds from issuances of short-term obligations $ 10,846 $ 2,586 $ 2,486 Repayments of short-term obligations (9,771) (1,430) (4,136) Net borrowings (repayments) of short-term obligations with three months or less maturity (424) (3,977) 3,671 Net borrowings (repayments) of short-term obligations $ 651 $ (2,821) $ 2,021 Net sales (purchases) of treasury shares consists of the following gross and net amounts: Shares issued for share-based compensation plans $ 226 $ 1,104 $ 1,147 Shares purchased under share repurchase and deferred compensation plans (1,757) (4,039) (1,751) Net sales (purchases) of treasury shares $ (1,531) $ (2,935) $ (604) The “Other” line in the Operating Activities section includes changes in postretirement benefits obligations and other long-term liabilities. The Consolidated Statement of Cash Flows excludes changes to the Consolidated Balance Sheet that did not affect cash. "Distributions more (less) than income from equity affiliates," “Depreciation, depletion and amortization,” “Deferred income tax provision,” “Dry hole expense,” and "Net decrease (increase) in operating working capital" collectively include approximately $4.8 billion in non-cash reductions in 2020 relating to impairments and other non-cash charges. “Depreciation, depletion and amortization,” “Deferred income tax provision,” and “Dry hole expense” collectively include approximately $9.3 billion in non-cash reductions recorded in 2019 relating to impairments and other non-cash charges. Refer also to Note 23 , on page 94, for a discussion of revisions to the company’s AROs that also did not involve cash receipts or payments for the three years ending December 31, 2020. Refer also to Note 29 on page 96 for a discussion of the all-stock acquisition of Noble. The cash received as a result of the acquisition is reflected on the Consolidated Statement of Cash Flows as “Cash acquired from Noble Energy, Inc.” Other changes to the Consolidated Balance Sheet resulting from the acquisition that did not affect cash are not reflected on the Consolidated Statement of Cash Flows. The major components of “Capital expenditures” and the reconciliation of this amount to the reported capital and exploratory expenditures, including equity affiliates, are presented in the following table. Year ended December 31 2020 2019 2018 Additions to properties, plant and equipment * $ 8,492 $ 13,839 $ 13,384 Additions to investments 136 140 65 Current-year dry hole expenditures 327 124 344 Payments for other assets and liabilities, net (33) 13 (1) Capital expenditures 8,922 14,116 13,792 Expensed exploration expenditures 500 598 523 Assets acquired through finance leases and other obligations 53 181 75 Payments for other assets and liabilities, net 42 (13) — Capital and exploratory expenditures, excluding equity affiliates 9,517 14,882 14,390 Company’s share of expenditures by equity affiliates 3,982 6,112 5,716 Capital and exploratory expenditures, including equity affiliates $ 13,499 $ 20,994 $ 20,106 * Excludes non-cash movements of $816 in 2020, $(239) in 2019 and $25 in 2018. The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet: Year ended December 31 2020 2019 2018 Cash and cash equivalents $ 5,596 $ 5,686 $ 9,342 Restricted cash included in “Prepaid expenses and other current assets” 365 452 341 Restricted cash included in “Deferred charges and other assets” 776 773 798 Total cash, cash equivalents and restricted cash $ 6,737 $ 6,911 $ 10,481

New Accounting Standards

New Accounting Standards	12 Months Ended
New Accounting Standards	Dec. 31, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	New Accounting Standards Financial Instruments - Credit Losses (Topic 326) Effective January 1, 2020, Chevron adopted Accounting Standards Update (ASU) 2016-13 and its related amendments. For additional information on the company’s expected credit losses, refer to Note 28 on page 96.

Lease Commitments

Lease Commitments	12 Months Ended
Lease Commitments	Dec. 31, 2020
Leases [Abstract]
Lease Commitments	Lease Commitments The company enters into leasing arrangements as a lessee; any lessor arrangements are not significant. Operating lease arrangements mainly involve land, bareboat charters, terminals, drill ships, drilling rigs, time chartered vessels, office buildings and warehouses, and exploration and production equipment. Finance leases primarily include facilities, vessels, office buildings, and production equipment. Details of the right-of-use assets and lease liabilities for operating and finance leases, including the balance sheet presentation, are as follows: At December 31, 2020 At December 31, 2019 Operating Finance Operating Finance Deferred charges and other assets $ 3,949 $ — $ 4,074 $ — Properties, plant and equipment, net — 455 — 329 Right-of-use assets 1 $ 3,949 $ 455 $ 4,074 $ 329 Accrued Liabilities $ 1,291 $ — $ 1,277 $ — Short-term Debt — 186 — 18 Current lease liabilities 1,291 186 1,277 18 Deferred credits and other noncurrent obligations 2,615 — 2,608 — Long-term Debt — 447 — 282 Noncurrent lease liabilities 2,615 447 2,608 282 Total lease liabilities $ 3,906 $ 633 $ 3,885 $ 300 Weighted-average remaining lease term (in years) 7.2 10.4 5.2 16.0 Weighted-average discount rate 2.8 % 3.9 % 3.2 % 4.7 % 1 Includes non-cash additions of $1,353 and $164 in 2020, and $1,201 and $184 in 2019 for right-of-use assets obtained in exchange for new and modified lease liabilities for operating and finance leases, respectively. 2020 includes $566 in operating lease right-of-use assets and $566 lease liabilities associated with the Puma acquisition. 2020 also includes $124 in operating lease right-of-use assets and $148 lease liabilities, and $112 in finance lease right-of-use assets and $309 lease liabilities associated with the Noble acquisition. Total lease costs consist of both amounts recognized in the Consolidated Statement of Income during the period and amounts capitalized as part of the cost of another asset. Total lease costs incurred for operating and finance leases were as follows: Year-ended December 31 2020 2019 Operating lease costs 1, 2 $ 2,551 $ 2,621 Finance lease costs 45 66 Total lease costs $ 2,596 $ 2,687 1 Net rental expense of $816 for 2018. 2 Includes variable and short-term lease costs. Cash paid for amounts included in the measurement of lease liabilities was as follows: Year-ended December 31 2020 2019 Operating cash flows from operating leases $ 1,744 $ 1,574 Investing cash flows from operating leases 762 1,047 Operating cash flows from finance leases 14 13 Financing cash flows from finance leases 34 24 At December 31, 2020, the estimated future undiscounted cash flows for operating and finance leases were as follows: At December 31, 2020 Operating Leases Finance Year 2021 $ 1,376 $ 204 2022 779 60 2023 497 58 2024 338 56 2025 255 53 Thereafter 1,112 331 Total $ 4,357 $ 762 Less: Amounts representing interest 451 129 Total lease liabilities $ 3,906 $ 633 Additionally, the company has $907 in future undiscounted cash flows for operating leases not yet commenced. These leases are primarily for a drill ship and drilling rigs. For those leasing arrangements where the underlying asset is not yet constructed, the lessor is primarily involved in the design and construction of the asset.
Lease Commitments	Lease Commitments The company enters into leasing arrangements as a lessee; any lessor arrangements are not significant. Operating lease arrangements mainly involve land, bareboat charters, terminals, drill ships, drilling rigs, time chartered vessels, office buildings and warehouses, and exploration and production equipment. Finance leases primarily include facilities, vessels, office buildings, and production equipment. Details of the right-of-use assets and lease liabilities for operating and finance leases, including the balance sheet presentation, are as follows: At December 31, 2020 At December 31, 2019 Operating Finance Operating Finance Deferred charges and other assets $ 3,949 $ — $ 4,074 $ — Properties, plant and equipment, net — 455 — 329 Right-of-use assets 1 $ 3,949 $ 455 $ 4,074 $ 329 Accrued Liabilities $ 1,291 $ — $ 1,277 $ — Short-term Debt — 186 — 18 Current lease liabilities 1,291 186 1,277 18 Deferred credits and other noncurrent obligations 2,615 — 2,608 — Long-term Debt — 447 — 282 Noncurrent lease liabilities 2,615 447 2,608 282 Total lease liabilities $ 3,906 $ 633 $ 3,885 $ 300 Weighted-average remaining lease term (in years) 7.2 10.4 5.2 16.0 Weighted-average discount rate 2.8 % 3.9 % 3.2 % 4.7 % 1 Includes non-cash additions of $1,353 and $164 in 2020, and $1,201 and $184 in 2019 for right-of-use assets obtained in exchange for new and modified lease liabilities for operating and finance leases, respectively. 2020 includes $566 in operating lease right-of-use assets and $566 lease liabilities associated with the Puma acquisition. 2020 also includes $124 in operating lease right-of-use assets and $148 lease liabilities, and $112 in finance lease right-of-use assets and $309 lease liabilities associated with the Noble acquisition. Total lease costs consist of both amounts recognized in the Consolidated Statement of Income during the period and amounts capitalized as part of the cost of another asset. Total lease costs incurred for operating and finance leases were as follows: Year-ended December 31 2020 2019 Operating lease costs 1, 2 $ 2,551 $ 2,621 Finance lease costs 45 66 Total lease costs $ 2,596 $ 2,687 1 Net rental expense of $816 for 2018. 2 Includes variable and short-term lease costs. Cash paid for amounts included in the measurement of lease liabilities was as follows: Year-ended December 31 2020 2019 Operating cash flows from operating leases $ 1,744 $ 1,574 Investing cash flows from operating leases 762 1,047 Operating cash flows from finance leases 14 13 Financing cash flows from finance leases 34 24 At December 31, 2020, the estimated future undiscounted cash flows for operating and finance leases were as follows: At December 31, 2020 Operating Leases Finance Year 2021 $ 1,376 $ 204 2022 779 60 2023 497 58 2024 338 56 2025 255 53 Thereafter 1,112 331 Total $ 4,357 $ 762 Less: Amounts representing interest 451 129 Total lease liabilities $ 3,906 $ 633 Additionally, the company has $907 in future undiscounted cash flows for operating leases not yet commenced. These leases are primarily for a drill ship and drilling rigs. For those leasing arrangements where the underlying asset is not yet constructed, the lessor is primarily involved in the design and construction of the asset.

Summarized Financial Data - Che

Summarized Financial Data - Chevron U.S.A. Inc.	12 Months Ended
Summarized Financial Data - Chevron U.S.A. Inc.	Dec. 31, 2020
Summarized Financial Data of Subsidiary One [Abstract]
Summarized Financial Data - Chevron U.S.A. Inc.	Summarized Financial Data – Chevron U.S.A. Inc. Chevron U.S.A. Inc. (CUSA) is a major subsidiary of Chevron Corporation. CUSA and its subsidiaries manage and operate most of Chevron’s U.S. businesses. Assets include those related to the exploration and production of crude oil, natural gas and natural gas liquids and those associated with the refining, marketing, supply and distribution of products derived from petroleum, excluding most of the regulated pipeline operations of Chevron. CUSA also holds the company’s investment in the Chevron Phillips Chemical Company LLC joint venture, which is accounted for using the equity method. The summarized financial information for CUSA and its consolidated subsidiaries is as follows: Year ended December 31 2020 2019 2018 Sales and other operating revenues $ 67,950 $ 109,314 $ 125,076 Total costs and other deductions 72,575 116,365 121,351 Net income (loss) attributable to CUSA (2,676) (5,061) 4,334 At December 31 2020 2019 Current assets $ 10,555 $ 13,059 Other assets 48,054 50,796 Current liabilities 12,403 18,291 Other liabilities 14,102 12,565 Total CUSA net equity $ 32,104 $ 32,999 Memo: Total debt $ 7,133 $ 3,222 Summarized Financial Data – Chevron Phillips Chemical Company LLC Chevron has a 50 percent equity ownership interest in Chevron Phillips Chemical Company LLC (CPChem). Refer to Note 13 , on page 77, for a discussion of CPChem operations. Summarized financial information for 100 percent of CPChem is presented in the table below: Year ended December 31 2020 2019 2018 Sales and other operating revenues $ 8,407 $ 9,333 $ 11,310 Costs and other deductions 7,221 7,863 9,812 Net income attributable to CPChem 1,260 1,760 2,069 At December 31 2020 2019 Current assets $ 2,816 $ 2,554 Other assets 14,210 14,314 Current liabilities 1,394 1,247 Other liabilities 3,380 3,174 Total CPChem net equity $ 12,252 $ 12,447

Fair Value Measurements

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The tables on the next page show the fair value hierarchy for assets and liabilities measured at fair value on a recurring and nonrecurring basis at December 31, 2020 and December 31, 2019. Marketable Securities The company calculates fair value for its marketable securities based on quoted market prices for identical assets. The fair values reflect the cash that would have been received if the instruments were sold at December 31, 2020. Derivatives The company records its derivative instruments – other than any commodity derivative contracts that are designated as normal purchase and normal sale – on the Consolidated Balance Sheet at fair value, with the offsetting amount to the Consolidated Statement of Income. Derivatives classified as Level 1 include futures, swaps and options contracts traded in active markets such as the New York Mercantile Exchange. Derivatives classified as Level 2 include swaps, options and forward contracts principally with financial institutions and other oil and gas companies, the fair values of which are obtained from third-party broker quotes, industry pricing services and exchanges. The company obtains multiple sources of pricing information for the Level 2 instruments. Since this pricing information is generated from observable market data, it has historically been very consistent. The company does not materially adjust this information. Properties, Plant and Equipment The company reported impairments for certain upstream properties during 2020 primarily due to downward revisions to its oil and gas price outlook. The impact of these impairments is included in “Depreciation, depletion and amortization” on the Consolidated Statement of Income. The company reported impairments for certain upstream properties in 2019 primarily due to capital allocation decisions and a lower long-term commodity price outlook. Investments and Advances In 2020, the company fully impaired its investments in Petropiar and Petroboscan in Venezuela. The impact of these impairments is included in “Income (loss) from equity affiliates” on the Consolidated Statement of Income. The company reported impairments for certain upstream equity companies in 2019 primarily due to capital allocation decisions and lower long-term commodity price outlook. Assets and Liabilities Measured at Fair Value on a Recurring Basis At December 31, 2020 At December 31, 2019 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Marketable securities $ 31 $ 31 $ — $ — $ 63 $ 63 $ — $ — Derivatives 74 37 37 — 11 1 10 — Total assets at fair value $ 105 $ 68 $ 37 $ — $ 74 $ 64 $ 10 $ — Derivatives 173 58 115 — 74 26 48 — Total liabilities at fair value $ 173 $ 58 $ 115 $ — $ 74 $ 26 $ 48 $ — Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis At December 31 At December 31 Before-Tax Loss Before-Tax Loss Total Level 1 Level 2 Level 3 Year 2020 Total Level 1 Level 2 Level 3 Year 2019 Properties, plant and equipment, net (held and used) $ 2,443 $ — $ 20 $ 2,423 $ 2,599 $ 2,177 $ — $ — $ 2,177 $ 2,095 Properties, plant and equipment, net (held for sale) 1,418 — 1,418 — 193 1,412 — 1,412 — 8,702 Investments and advances 28 — — 28 2,555 52 — 30 22 594 Total nonrecurring assets at fair value $ 3,889 $ — $ 1,438 $ 2,451 $ 5,347 $ 3,641 $ — $ 1,442 $ 2,199 $ 11,391 At year-end 2020, the company had assets measured at fair value Level 3 using unobservable inputs of $2,451. The carrying value of these assets were written down to fair value based on estimates derived from internal discounted cash flow models. Cash flows were determined using estimates of future production, an outlook of future price based on published prices and a discount rate believed to be consistent with those used by principal market participants. The significant Level 3 inputs were attributed to two assets, one in an international location where volumes and price were primarily based on natural gas, and the second was in a U.S. location where volumes and price were primarily based on crude. Assets and Liabilities Not Required to Be Measured at Fair Value The company holds cash equivalents and time deposits in U.S. and non-U.S. portfolios. The instruments classified as cash equivalents are primarily bank time deposits with maturities of 90 days or less and money market funds. “Cash and cash equivalents” had carrying/fair values of $5,596 and $5,686 at December 31, 2020, and December 31, 2019, respectively. The fair values of cash, cash equivalents and bank time deposits are classified as Level 1 and reflect the cash that would have been received if the instruments were settled at December 31, 2020. “Cash and cash equivalents” do not include investments with a carrying/fair value of $1,141 and $1,225 at December 31, 2020, and December 31, 2019, respectively. At December 31, 2020, these investments are classified as Level 1 and include restricted funds related to certain upstream decommissioning activities, tax payments and a financing program, which are reported in “Deferred charges and other assets” on the Consolidated Balance Sheet. Long-term debt, excluding finance lease liabilities, of $30,805 and $13,659 at December 31, 2020, and December 31, 2019, respectively, had estimated fair values of $34,390 and $14,326, respectively. Long-term debt primarily includes corporate issued bonds. The fair value of corporate bonds is $32,123 and classified as Level 1. The fair value of other long-term debt is $2,267 and classified as Level 2.

Financial and Derivative Instru

Financial and Derivative Instruments	12 Months Ended
Financial and Derivative Instruments	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial and Derivative Instruments	Financial and Derivative Instruments Derivative Commodity Instruments The company’s derivative commodity instruments principally include crude oil, natural gas and refined product futures, swaps, options, and forward contracts. None of the company’s derivative instruments is designated as a hedging instrument, although certain of the company’s affiliates make such designation. The company’s derivatives are not material to the company’s financial position, results of operations or liquidity. The company believes it has no material market or credit risks to its operations, financial position or liquidity as a result of its commodity derivative activities. The company uses derivative commodity instruments traded on the New York Mercantile Exchange and on electronic platforms of the Inter-Continental Exchange and Chicago Mercantile Exchange. In addition, the company enters into swap contracts and option contracts principally with major financial institutions and other oil and gas companies in the “over-the-counter” markets, which are governed by International Swaps and Derivatives Association agreements and other master netting arrangements. Depending on the nature of the derivative transactions, bilateral collateral arrangements may also be required. Derivative instruments measured at fair value at December 31, 2020, December 31, 2019, and December 31, 2018, and their classification on the Consolidated Balance Sheet and Consolidated Statement of Income are below: Consolidated Balance Sheet: Fair Value of Derivatives Not Designated as Hedging Instruments At December 31 Type of Contract Balance Sheet Classification 2020 2019 Commodity Accounts and notes receivable, net $ 73 $ 11 Commodity Long-term receivables, net 1 — Total assets at fair value $ 74 $ 11 Commodity Accounts payable $ 172 $ 74 Commodity Deferred credits and other noncurrent obligations 1 — Total liabilities at fair value $ 173 $ 74 Consolidated Statement of Income: The Effect of Derivatives Not Designated as Hedging Instruments Gain/(Loss) Type of Derivative Statement of Year ended December 31 Contract Income Classification 2020 2019 2018 Commodity Sales and other operating revenues $ 69 $ (291) $ 135 Commodity Purchased crude oil and products (36) (17) (33) Commodity Other income 7 (2) 3 $ 40 $ (310) $ 105 The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at December 31, 2020 and December 31, 2019. Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amounts At December 31, 2020 Derivative Assets $ 818 $ 744 $ 74 $ — $ 74 Derivative Liabilities $ 917 $ 744 $ 173 $ — $ 173 At December 31, 2019 Derivative Assets $ 656 $ 645 $ 11 $ — $ 11 Derivative Liabilities $ 719 $ 645 $ 74 $ — $ 74 Derivative assets and liabilities are classified on the Consolidated Balance Sheet as accounts and notes receivable, long-term receivables, accounts payable, and deferred credits and other noncurrent obligations. Amounts not offset on the Consolidated Balance Sheet represent positions that do not meet all the conditions for “a right of offset.” Concentrations of Credit Risk The company’s financial instruments that are exposed to concentrations of credit risk consist primarily of its cash equivalents, time deposits, marketable securities, derivative financial instruments and trade receivables. The company’s short-term investments are placed with a wide array of financial institutions with high credit ratings. Company investment policies limit the company’s exposure both to credit risk and to concentrations of credit risk. Similar policies on diversification and creditworthiness are applied to the company’s counterparties in derivative instruments.

Assets Held for Sale

Assets Held for Sale	12 Months Ended
Assets Held for Sale	Dec. 31, 2020
Assets Held For Sale [Abstract]
Assets Held for Sale	Assets Held for Sale At December 31, 2020, the company classified $1,101 of net properties, plant and equipment as “Assets held for sale” on the Consolidated Balance Sheet. These assets are associated with upstream operations that are anticipated to be sold in the next 12 months. The revenues and earnings contributions of these assets in 2020 were not material.

Equity

Equity	12 Months Ended
Equity	Dec. 31, 2020
Equity [Abstract]
Equity	Equity Retained earnings at December 31, 2020 and 2019, included $26,532 and $25,319, respectively, for the company’s share of undistributed earnings of equity affiliates.

Earnings Per Share

Earnings Per Share	12 Months Ended
Earnings Per Share	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share (EPS) is based upon “Net Income (Loss) Attributable to Chevron Corporation” (“earnings”) and includes the effects of deferrals of salary and other compensation awards that are invested in Chevron stock units by certain officers and employees of the company. Diluted EPS includes the effects of these items as well as the dilutive effects of outstanding stock options awarded under the company’s stock option programs (refer to Note 20 Year ended December 31 2020 2019 2018 Basic EPS Calculation Earnings available to common stockholders - Basic 1 $ (5,543) $ 2,924 $ 14,824 Weighted-average number of common shares outstanding 2 1,870 1,882 1,897 Add: Deferred awards held as stock units — — 1 Total weighted-average number of common shares outstanding 1,870 1,882 1,898 Earnings per share of common stock - Basic $ (2.96) $ 1.55 $ 7.81 Diluted EPS Calculation Earnings available to common stockholders - Diluted 1 $ (5,543) $ 2,924 $ 14,824 Weighted-average number of common shares outstanding 2 1,870 1,882 1,897 Add: Deferred awards held as stock units — — 1 Add: Dilutive effect of employee stock-based awards — 13 16 Total weighted-average number of common shares outstanding 1,870 1,895 1,914 Earnings per share of common stock - Diluted $ (2.96) $ 1.54 $ 7.74 1 There was no effect of dividend equivalents paid on stock units or dilutive impact of employee stock-based awards on earnings. 2 Millions of shares; 1 million shares of employee-based awards were not included in the 2020 diluted EPS calculation as the result would be anti-dilutive.

Operating Segments and Geograph

Operating Segments and Geographic Data	12 Months Ended
Operating Segments and Geographic Data	Dec. 31, 2020
Segment Reporting [Abstract]
Operating Segments and Geographic Data	Operating Segments and Geographic Data Although each subsidiary of Chevron is responsible for its own affairs, Chevron Corporation manages its investments in these subsidiaries and their affiliates. The investments are grouped into two business segments, Upstream and Downstream, representing the company’s “reportable segments” and “operating segments.” Upstream operations consist primarily of exploring for, developing, producing and transporting crude oil and natural gas; liquefaction, transportation and regasification associated with liquefied natural gas (LNG); transporting crude oil by major international oil export pipelines; processing, transporting, storage and marketing of natural gas; and a gas-to-liquids plant. Downstream operations consist primarily of refining of crude oil into petroleum products; marketing of crude oil, refined products and lubricants; transporting of crude oil and refined products by pipeline, marine vessel, motor equipment and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. All Other activities of the company include worldwide cash management and debt financing activities, corporate administrative functions, insurance operations, real estate activities, and technology activities. The company’s segments are managed by “segment managers” who report to the “chief operating decision maker” (CODM). The segments represent components of the company that engage in activities (a) from which revenues are earned and expenses are incurred; (b) whose operating results are regularly reviewed by the CODM, which makes decisions about resources to be allocated to the segments and assesses their performance; and (c) for which discrete financial information is available. The company’s primary country of operation is the United States of America, its country of domicile. Other components of the company’s operations are reported as “International” (outside the United States). Segment Earnings The company evaluates the performance of its operating segments on an after-tax basis, without considering the effects of debt financing interest expense or investment interest income, both of which are managed by the company on a worldwide basis. Corporate administrative costs are not allocated to the operating segments. However, operating segments are billed for the direct use of corporate services. Non billable costs remain at the corporate level in “All Other.” Earnings by major operating area are presented in the following table: Year ended December 31 2020 2019 2018 Upstream United States $ (1,608) $ (5,094) $ 3,278 International (825) 7,670 10,038 Total Upstream (2,433) 2,576 13,316 Downstream United States (571) 1,559 2,103 International 618 922 1,695 Total Downstream 47 2,481 3,798 Total Segment Earnings (2,386) 5,057 17,114 All Other Interest expense (658) (761) (713) Interest income 52 181 137 Other (2,551) (1,553) (1,714) Net Income (Loss) Attributable to Chevron Corporation $ (5,543) $ 2,924 $ 14,824 Segment Assets Segment assets do not include intercompany investments or receivables. Assets at year-end 2020 and 2019 are as follows: At December 31 2020 2019 Upstream United States $ 42,431 $ 35,926 International 144,476 145,648 Goodwill 4,402 4,463 Total Upstream 191,309 186,037 Downstream United States 23,490 25,197 International 16,096 16,955 Total Downstream 39,586 42,152 Total Segment Assets 230,895 228,189 All Other United States 4,017 3,475 International 4,878 5,764 Total All Other 8,895 9,239 Total Assets – United States 69,938 64,598 Total Assets – International 165,450 168,367 Goodwill 4,402 4,463 Total Assets $ 239,790 $ 237,428 Segment Sales and Other Operating Revenues Operating segment sales and other operating revenues, including internal transfers, for the years 2020, 2019 and 2018, are presented in the table on the next page. Products are transferred between operating segments at internal product values that approximate market prices. Revenues for the upstream segment are derived primarily from the production and sale of crude oil and natural gas, as well as the sale of third-party production of natural gas. Revenues for the downstream segment are derived from the refining and marketing of petroleum products such as gasoline, jet fuel, gas oils, lubricants, residual fuel oils and other products derived from crude oil. This segment also generates revenues from the manufacture and sale of fuel and lubricant additives and the transportation and trading of refined products and crude oil. “All Other” activities include revenues from insurance operations, real estate activities and technology companies. Year ended December 31 1 2020 2019 2018 Upstream United States $ 14,577 $ 23,358 $ 22,891 International 26,804 35,628 37,822 Subtotal 41,381 58,986 60,713 Intersegment Elimination — United States (8,068) (14,944) (13,965) Intersegment Elimination — International (7,002) (12,335) (13,679) Total Upstream 26,311 31,707 33,069 Downstream United States 32,589 55,271 59,376 International 38,936 57,654 70,095 Subtotal 71,525 112,925 129,471 Intersegment Elimination — United States (2,150) (3,924) (2,742) Intersegment Elimination — International (1,292) (1,089) (1,132) Total Downstream 68,083 107,912 125,597 All Other United States 744 1,064 1,022 International 15 20 22 Subtotal 759 1,084 1,044 Intersegment Elimination — United States (667) (818) (786) Intersegment Elimination — International (15) (20) (22) Total All Other 77 246 236 Sales and Other Operating Revenues United States 47,910 79,693 83,289 International 65,755 93,302 107,939 Subtotal 113,665 172,995 191,228 Intersegment Elimination — United States (10,885) (19,686) (17,493) Intersegment Elimination — International (8,309) (13,444) (14,833) Total Sales and Other Operating Revenues $ 94,471 $ 139,865 $ 158,902 1 Other than the United States, no other country accounted for 10 percent or more of the company’s Sales and Other Operating Revenues. Segment Income Taxes Segment income tax expense for the years 2020, 2019 and 2018 is as follows: Year ended December 31 2020 2019 2018 Upstream United States $ (570) $ (1,550) $ 811 International (415) 3,492 4,687 Total Upstream (985) 1,942 5,498 Downstream United States (192) 392 534 International 253 170 328 Total Downstream 61 562 862 All Other (968) 187 (645) Total Income Tax Expense (Benefit) $ (1,892) $ 2,691 $ 5,715 Other Segment Information Additional information for the segmentation of major equity affiliates is contained in Note 13 , on page 77. Information related to properties, plant and equipment by segment is contained in Note 16 , on page 82.

Investments and Advances

Investments and Advances	12 Months Ended
Investments and Advances	Dec. 31, 2020
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Investments and Advances	Investments and Advances Equity in earnings, together with investments in and advances to companies accounted for using the equity method and other investments accounted for at or below cost, is shown in the following table. For certain equity affiliates, Chevron pays its share of some income taxes directly. For such affiliates, the equity in earnings does not include these taxes, which are reported on the Consolidated Statement of Income as “Income tax expense.” Investments and Advances Equity in Earnings At December 31 Year ended December 31 2020 2019 2020 2019 2018 Upstream Tengizchevroil $ 22,685 $ 20,214 $ 1,238 $ 3,067 $ 3,614 Petropiar — 1,396 (1,396) 80 317 Petroboscan — 1,139 (1,112) (11) 357 Caspian Pipeline Consortium 835 883 159 155 170 Angola LNG Limited 2,258 2,423 (166) (26) 172 Noble Midstream equity affiliates 895 — (9) — — Other 980 881 146 (478) 19 Total Upstream 27,653 26,936 (1,140) 2,787 4,649 Downstream Chevron Phillips Chemical Company LLC 6,181 6,241 630 880 1,034 GS Caltex Corporation 3,547 3,796 (185) 13 373 Other 1,389 1,443 223 288 273 Total Downstream 11,117 11,480 668 1,181 1,680 All Other Other (14) (14) — — (2) Total equity method $ 38,756 $ 38,402 $ (472) $ 3,968 $ 6,327 Other non-equity method investments 296 286 Total investments and advances $ 39,052 $ 38,688 Total United States $ 7,978 $ 7,203 $ 709 $ 641 $ 1,033 Total International $ 31,074 $ 31,485 $ (1,181) $ 3,327 $ 5,294 Descriptions of major affiliates and non-equity investments, including significant differences between the company’s carrying value of its investments and its underlying equity in the net assets of the affiliates, are as follows: Tengizchevroil Chevron has a 50 percent equity ownership interest in Tengizchevroil (TCO), which operates the Tengiz and Korolev crude oil fields in Kazakhstan. At December 31, 2020, the company’s carrying value of its investment in TCO was about $100 higher than the amount of underlying equity in TCO’s net assets. This difference results from Chevron acquiring a portion of its interest in TCO at a value greater than the underlying book value for that portion of TCO’s net assets. Included in the investment is a loan to TCO to fund the development of the Future Growth and Wellhead Pressure Management Project with a balance of $4,825. Petropiar Chevron has a 30 percent interest in Petropiar, a joint stock company which operates the heavy oil Huyapari Field and upgrading project in Venezuela’s Orinoco Belt. In 2020, the company fully impaired its investments in the Petropiar affiliate and, effective July 1, 2020, began accounting for this venture as a non-equity method investment. At December 31, 2020, the underlying equity in Petropiar’s net assets was approximately $1,500. Petroboscan Chevron has a 39.2 percent interest in Petroboscan, a joint stock company which operates the Boscan Field in Venezuela. In 2020, the company fully impaired its investments in the Petroboscan affiliate and, effective July 1, 2020, began accounting for this venture as a non-equity method investment. At December 31, 2020, the underlying equity in Petroboscan’s net assets was approximately $1,100. The company also has an outstanding long-term loan to Petroboscan of $560 at year-end 2020. Caspian Pipeline Consortium Chevron has a 15 percent interest in the Caspian Pipeline Consortium, which provides the critical export route for crude oil from both TCO and Karachaganak. Angola LNG Limited Chevron has a 36.4 percent interest in Angola LNG Limited, which processes and liquefies natural gas produced in Angola for delivery to international markets. Noble Midstream Equity Affiliates Noble Midstream, a fully consolidated subsidiary of Chevron, has equity investments in entities which operate midstream assets in the United States. At December 31, 2020, equity investments included Advantage Pipeline LLC (50 percent), Delaware Crossing LLC (50 percent), EPIC Crude Holdings (30 percent), EPIC Y-Grade (15 percent), EPIC Propane (15 percent), and Saddlehorn Pipeline Company, LLC (20 percent). Chevron Phillips Chemical Company LLC Chevron owns 50 percent of Chevron Phillips Chemical Company LLC. The other half is owned by Phillips 66. GS Caltex Corporation Chevron owns 50 percent of GS Caltex Corporation, a joint venture with GS Energy in South Korea. The joint venture imports, refines and markets petroleum products, petrochemicals and lubricants. Other Information “Sales and other operating revenues” on the Consolidated Statement of Income includes $6,038, $8,006 and $10,378 with affiliated companies for 2020, 2019 and 2018, respectively. “Purchased crude oil and products” includes $3,003, $5,694 and $6,598 with affiliated companies for 2020, 2019 and 2018, respectively. “Accounts and notes receivable” on the Consolidated Balance Sheet includes $807 and $810 due from affiliated companies at December 31, 2020 and 2019, respectively. “Accounts payable” includes $244 and $506 due to affiliated companies at December 31, 2020 and 2019, respectively. The following table provides summarized financial information on a 100 percent basis for all equity affiliates as well as Chevron’s total share, which includes Chevron’s net loans to affiliates of $5,153, $4,331 and $3,402 at December 31, 2020, 2019 and 2018, respectively. Affiliates Chevron Share Year ended December 31 2020 2019 2018 2020 2019 2018 Total revenues $ 49,093 $ 66,473 $ 84,469 $ 21,641 $ 32,628 $ 40,679 Income before income tax expense 5,682 13,197 16,693 2,550 5,954 6,755 Net income attributable to affiliates 4,704 9,809 13,321 2,034 4,366 6,384 At December 31 Current assets $ 17,087 $ 30,791 $ 32,657 $ 7,328 $ 12,998 $ 12,813 Noncurrent assets 97,468 97,177 87,614 43,247 41,531 36,369 Current liabilities 12,164 26,032 26,006 5,052 10,610 9,843 Noncurrent liabilities 25,586 21,593 20,000 5,884 5,068 4,446 Total affiliates’ net equity $ 76,805 $ 80,343 $ 74,265 $ 39,639 $ 38,851 $ 34,893

Litigation

Litigation	12 Months Ended
Litigation	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Litigation	Litigation MTBE Chevron and many other companies in the petroleum industry have used methyl tertiary butyl ether (MTBE) as a gasoline additive. Chevron is a party to six pending lawsuits and claims, the majority of which involve numerous other petroleum marketers and refiners. Resolution of these lawsuits and claims may ultimately require the company to correct or ameliorate the alleged effects on the environment of prior release of MTBE by the company or other parties. The company’s ultimate exposure related to pending lawsuits and claims is not determinable. The company no longer uses MTBE in the manufacture of gasoline in the United States. Ecuador Texaco Petroleum Company (Texpet), a subsidiary of Texaco Inc., was a minority member of an oil production consortium with Ecuadorian state-owned Petroecuador from 1967 until 1992. After termination of the consortium and a third-party environmental audit, Ecuador and the consortium parties entered into a settlement agreement specifying Texpet’s remediation obligations. Following Texpet’s completion of a three In February 2011, Chevron sued the Lago Agrio plaintiffs and several of their lawyers and supporters in the U.S. District Court for the Southern District of New York (SDNY) for violations of the Racketeer Influenced and Corrupt Organizations (RICO) Act and state law. The SDNY court ruled that the Ecuadorian judgment had been procured through fraud, bribery, and corruption, and prohibited the RICO defendants from seeking to enforce the Ecuadorian judgment in the United States or profiting from their illegal acts. The Court of Appeals for the Second Circuit affirmed, and the U.S. Supreme Court denied certiorari in June 2017, rendering final the U.S. judgment in favor of Chevron. The Lago Agrio plaintiffs sought to have the Ecuadorian judgment recognized and enforced in Canada, Brazil, and Argentina. All of those recognition and enforcement actions were dismissed and resolved in Chevron’s favor. Chevron and Texpet filed an arbitration claim against Ecuador in September 2009 before an arbitral tribunal administered by the Permanent Court of Arbitration in The Hague, under the United States-Ecuador Bilateral Investment Treaty. In August 2018, the Tribunal issued an award holding that the Ecuadorian judgment was based on environmental claims that Ecuador had settled and released, and that it was procured through fraud, bribery, and corruption. According to the Tribunal, the Ecuadorian judgment “violates international public policy” and “should not be recognized or enforced by the courts of other States.” The Tribunal ordered Ecuador to remove the status of enforceability from the Ecuadorian judgment and to compensate Chevron for any injuries resulting from the judgment. The third and final phase of the arbitration, to determine the amount of compensation Ecuador owes to Chevron, is ongoing. In September 2020, the District Court of The Hague denied Ecuador’s request to set aside the Tribunal’s award, stating that it now is “common ground” between Ecuador and Chevron that the Ecuadorian judgment is fraudulent. In December 2020, Ecuador appealed the District Court’s decision to The Hague Court of Appeals. In a separate proceeding, Ecuador also admitted that the Ecuadorian judgment is fraudulent in a public filing with the Office of the United States Trade Representative in July 2020. Management’s Assessment The ultimate outcome of the foregoing matters, including any financial effect on Chevron, remains uncertain. Chevron continues to believe that the Ecuadorian judgment is illegitimate and unenforceable and that it does not provide any basis upon which an estimate of a reasonably possible loss or range of loss can be made.

Taxes

Taxes	12 Months Ended
Taxes	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Taxes	Taxes Income Taxes Year ended December 31 2020 2019 2018 Income tax expense (benefit) U.S. federal Current $ (182) $ (73) $ (181) Deferred (1,315) (1,074) 738 State and local Current 65 153 183 Deferred (152) (172) (16) Total United States (1,584) (1,166) 724 International Current 1,833 4,577 4,662 Deferred (2,141) (720) 329 Total International (308) 3,857 4,991 Total income tax expense (benefit) $ (1,892) $ 2,691 $ 5,715 The reconciliation between the U.S. statutory federal income tax rate and the company’s effective income tax rate is detailed in the following table: 2020 2019 2018 Income (loss) before income taxes United States $ (5,700) $ (5,483) $ 4,730 International (1,753) 11,019 15,845 Total income (loss) before income taxes (7,453) 5,536 20,575 Theoretical tax (at U.S. statutory rate of 21% ) (1,565) 1,163 4,321 Effect of U.S. tax reform — 3 (26) Equity affiliate accounting effect 211 (687) (1,526) Effect of income taxes from international operations * (39) 2,196 3,132 State and local taxes on income, net of U.S. federal income tax benefit (65) (18) 162 Prior year tax adjustments, claims and settlements (236) 192 (51) Tax credits (33) (18) (163) Other U.S. * (165) (140) (134) Total income tax expense (benefit) $ (1,892) $ 2,691 $ 5,715 Effective income tax rate 25.4 % 48.6 % 27.8 % * Includes one-time tax costs (benefits) associated with changes in uncertain tax positions and valuation allowances. The 2020 decrease in income tax expense of $4,583 is a result of the year-over-year decrease in total income before income tax expense, which is primarily due to lower crude oil prices in 2020, partially offset by lower impairment and write off charges. The company’s effective tax rate changed from 49 percent in 2019 to 25 percent in 2020. The change in effective tax rate is a consequence of mix effect resulting from the absolute level of earnings or losses and whether they arose in higher or lower tax rate jurisdictions. The company records its deferred taxes on a tax-jurisdiction basis. The reported deferred tax balances are composed of the following: At December 31 2020 2019 Deferred tax liabilities Properties, plant and equipment $ 16,603 $ 17,251 Investments and other 5,617 5,372 Total deferred tax liabilities 22,220 22,623 Deferred tax assets Foreign tax credits (10,585) (9,840) Asset retirement obligations/environmental reserves (4,721) (4,329) Employee benefits (3,856) (3,454) Deferred credits (1,056) (1,083) Tax loss carryforwards (6,701) (5,262) Other accrued liabilities (228) (441) Inventory (633) (662) Operating leases (1,234) (1,211) Miscellaneous (3,685) (2,796) Total deferred tax assets (32,699) (29,078) Deferred tax assets valuation allowance 17,762 15,965 Total deferred taxes, net $ 7,283 $ 9,510 Deferred tax liabilities decreased by $403 from year-end 2019. The decrease to Properties, plant and equipment temporary differences was partially offset with an increase to Investments and other. The Properties, plant and equipment decrease was primarily due to upstream impairments. Deferred tax assets increased by $3,621 from year-end 2019. This increase was primarily related to increases in tax loss carryforwards for various locations, miscellaneous items related to foreign exchange and foreign tax credits acquired with the purchase of Noble. The overall valuation allowance relates to deferred tax assets for U.S. foreign tax credit carryforwards, tax loss carryforwards and temporary differences. The valuation allowance reduces the deferred tax assets to amounts that are, in management’s assessment, more likely than not to be realized. At the end of 2020, the company had gross tax loss carryforwards of approximately $19,763 and tax credit carryforwards of approximately $1,056, primarily related to various international tax jurisdictions. Whereas some of these tax loss carryforwards do not have an expiration date, others expire at various times from 2021 through 2034. U.S. foreign tax credit carryforwards of $10,585 will expire between 2021 and 2030. At December 31, 2020 and 2019, deferred taxes were classified on the Consolidated Balance Sheet as follows: At December 31 2020 2019 Deferred charges and other assets $ (5,286) $ (4,178) Noncurrent deferred income taxes 12,569 13,688 Total deferred income taxes, net $ 7,283 $ 9,510 Income taxes are not accrued for unremitted earnings of international operations that have been or are intended to be reinvested indefinitely. The indefinite reinvestment assertion continues to apply for the purpose of determining deferred tax liabilities for U.S. state and foreign withholding tax purposes. U.S. state and foreign withholding taxes are not accrued for unremitted earnings of international operations that have been or are intended to be reinvested indefinitely. Undistributed earnings of international consolidated subsidiaries and affiliates for which no deferred income tax provision has been made for possible future remittances totaled approximately $52,100 at December 31, 2020. This amount represents earnings reinvested as part of the company’s ongoing international business. It is not practicable to estimate the amount of state and foreign taxes that might be payable on the possible remittance of earnings that are intended to be reinvested indefinitely. The company does not anticipate incurring significant additional taxes on remittances of earnings that are not indefinitely reinvested. Uncertain Income Tax Positions The company recognizes a tax benefit in the financial statements for an uncertain tax position only if management’s assessment is that the position is “more likely than not” (i.e., a likelihood greater than 50 percent) to be allowed by the tax jurisdiction based solely on the technical merits of the position. The term “tax position” in the accounting standards for income taxes refers to a position in a previously filed tax return or a position expected to be taken in a future tax return that is reflected in measuring current or deferred income tax assets and liabilities for interim or annual periods. The following table indicates the changes to the company’s unrecognized tax benefits for the years ended December 31, 2020, 2019 and 2018. The term “unrecognized tax benefits” in the accounting standards for income taxes refers to the differences between a tax position taken or expected to be taken in a tax return and the benefit measured and recognized in the financial statements. Interest and penalties are not included. 2020 2019 2018 Balance at January 1 $ 4,987 $ 5,070 $ 4,828 Foreign currency effects 2 1 (6) Additions based on tax positions taken in current year 253 94 239 Additions for tax positions taken in prior years 437 313 153 Reductions for tax positions taken in prior years (216) (194) (131) Settlements with taxing authorities in current year (429) (78) (13) Reductions as a result of a lapse of the applicable statute of limitations (16) (219) — Balance at December 31 $ 5,018 $ 4,987 $ 5,070 Approximately 83 percent of the $5,018 of unrecognized tax benefits at December 31, 2020, would have an impact on the effective tax rate if subsequently recognized. Certain of these unrecognized tax benefits relate to tax carryforwards that may require a full valuation allowance at the time of any such recognition. Tax positions for Chevron and its subsidiaries and affiliates are subject to income tax audits by many tax jurisdictions throughout the world. For the company’s major tax jurisdictions, examinations of tax returns for certain prior tax years had not been completed as of December 31, 2020. For these jurisdictions, the latest years for which income tax examinations had been finalized were as follows: United States – 2013, Nigeria – 2007, Australia – 2009 and Kazakhstan – 2012. The company engages in ongoing discussions with tax authorities regarding the resolution of tax matters in the various jurisdictions. Both the outcome of these tax matters and the timing of resolution and/or closure of the tax audits are highly uncertain. However, it is reasonably possible that developments on tax matters in certain tax jurisdictions may result in significant increases or decreases in the company’s total unrecognized tax benefits within the next 12 months. Given the number of years that still remain subject to examination and the number of matters being examined in the various tax jurisdictions, the company is unable to estimate the range of possible adjustments to the balance of unrecognized tax benefits. On the Consolidated Statement of Income, the company reports interest and penalties related to liabilities for uncertain tax positions as “Income tax expense.” As of December 31, 2020, accrual benefit of $(95) for anticipated interest and penalty were included on the Consolidated Balance Sheet, compared with accrual charges of $30 as of year-end 2019. Income tax expense (benefit) associated with interest and penalties was $(124), $(3) and $8 in 2020, 2019 and 2018, respectively. Taxes Other Than on Income Year ended December 31 2020 2019 2018 United States Excise and similar taxes on products and merchandise $ 4,566 $ 4,990 $ 4,830 Consumer excise taxes collected on behalf of third parties (4,566) (4,990) (4,830) Import duties and other levies 7 2 15 Property and other miscellaneous taxes 2,248 1,785 1,577 Payroll taxes 235 254 246 Taxes on production 317 355 325 Total United States 2,807 2,396 2,163 International Excise and similar taxes on products and merchandise 2,367 2,801 3,031 Consumer excise taxes collected on behalf of third parties (2,367) (2,801) (3,031) Import duties and other levies 39 35 37 Property and other miscellaneous taxes 1,461 1,435 2,370 Payroll taxes 117 125 132 Taxes on production 75 145 165 Total International 1,692 1,740 2,704 Total taxes other than on income $ 4,499 $ 4,136 $ 4,867

Properties, Plant and Equipment

Properties, Plant and Equipment	12 Months Ended
Properties, Plant and Equipment	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Properties, Plant and Equipment	Properties, Plant and Equipment 1 At December 31 Year ended December 31 Gross Investment at Cost Net Investment Additions at Cost 2 Depreciation Expense 3 2020 2019 2018 2020 2019 2018 2020 2019 2018 2020 2019 2018 Upstream United States $ 96,555 $ 82,117 $ 88,155 $ 38,175 $ 31,082 $ 39,526 $ 13,067 $ 7,751 $ 6,434 $ 6,841 $ 15,222 $ 5,328 International 209,846 206,292 215,329 102,010 102,639 113,603 11,069 3,664 4,865 11,121 12,618 12,726 Total Upstream 306,401 288,409 303,484 140,185 133,721 153,129 24,136 11,415 11,299 17,962 27,840 18,054 Downstream United States 26,499 25,968 24,685 11,101 11,398 10,838 638 1,452 1,259 851 869 751 International 7,993 7,480 7,237 3,395 3,114 3,023 573 355 278 283 256 282 Total Downstream 34,492 33,448 31,922 14,496 14,512 13,861 1,211 1,807 1,537 1,134 1,125 1,033 All Other United States 4,195 4,719 4,667 1,916 2,236 2,186 194 324 224 403 243 320 International 144 146 171 21 25 31 5 9 6 9 10 12 Total All Other 4,339 4,865 4,838 1,937 2,261 2,217 199 333 230 412 253 332 Total United States 127,249 112,804 117,507 51,192 44,716 52,550 13,899 9,527 7,917 8,095 16,334 6,399 Total International 217,983 213,918 222,737 105,426 105,778 116,657 11,647 4,028 5,149 11,413 12,884 13,020 Total $ 345,232 $ 326,722 $ 340,244 $ 156,618 $ 150,494 $ 169,207 $ 25,546 $ 13,555 $ 13,066 $ 19,508 $ 29,218 $ 19,419 1 Other than the United States and Australia, no other country accounted for 10 percent or more of the company’s net properties, plant and equipment (PP&E) in 2020. Australia had PP&E of $48,060, $51,359 and $53,768 in 2020, 2019 and 2018, respectively. Gross Investment at Cost, Net Investment and Additions at Cost for 2020 each include $16,703 associated with the Noble acquisition. 2 Net of dry hole expense related to prior years’ expenditures of $709, $49 and $343 in 2020, 2019 and 2018, respectively. 3 Depreciation expense includes accretion expense of $560, $628 and $654 in 2020, 2019 and 2018, respectively, and impairments of $2,792, $10,797 and $735 in 2020, 2019 and 2018, respectively.

Short-Term Debt

Short-Term Debt	12 Months Ended
Short-Term Debt	Dec. 31, 2020
Debt Disclosure [Abstract]
Short-Term Debt	Short-Term Debt At December 31 2020 2019 Commercial paper 1 $ 5,612 $ 4,654 Notes payable to banks and others with originating terms of one year or less 15 228 Current maturities of long-term debt 2,600 5,054 Current maturities of long-term finance leases 186 18 Redeemable long-term obligations Long-term debt 2,960 3,078 Subtotal 11,373 13,032 Reclassified to long-term debt (9,825) (9,750) Total short-term debt $ 1,548 $ 3,282 1 Weighted-average interest rates at December 31, 2020 and 2019, were 0.15% and 1.69%, respectively. Redeemable long-term obligations consist primarily of tax-exempt variable-rate put bonds that are included as current liabilities because they become redeemable at the option of the bondholders during the year following the balance sheet date. The company may periodically enter into interest rate swaps on a portion of its short-term debt. At December 31, 2020, the company had no interest rate swaps on short-term debt. At December 31, 2020, the company had $9,825 in 364-day committed credit facilities with various major banks that enable the refinancing of short-term obligations on a long-term basis. The credit facilities allow the company to convert any amounts outstanding into a term loan for a period of up to one year. This supports commercial paper borrowing and can also be used for general corporate purposes. The company’s practice has been to continually replace expiring commitments with new commitments on substantially the same terms, maintaining levels management believes appropriate. Any borrowings under the facility would be unsecured indebtedness at interest rates based on the London Interbank Offered Rate or an average of base lending rates published by specified banks and on terms reflecting the company’s strong credit rating. No borrowings were outstanding under this facility at December 31, 2020.

Long-Term Debt

Long-Term Debt	12 Months Ended
Long-Term Debt	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Total long-term debt including finance lease liabilities at December 31, 2020, was $42,767. The company’s long-term debt outstanding at year-end 2020 and 2019 was as follows: At December 31 2020 2019 Weighted Average Interest Rate (%) 1 Range of Interest Rates (%) 2 Principal Principal Notes due 2021 2.100 $ 1,350 $ 1,350 Floating rate notes due 2021 0.913 0.751 - 1.171 650 650 Debentures due 2021 8.875 40 40 Notes due 2022 2.179 0.333 - 2.498 3,800 3,400 Floating rate notes due 2022 0.594 0.324 - 0.762 1,000 650 Notes due 2023 2.377 0.426 - 7.250 4,800 3,000 Floating rate notes due 2023 0.676 0.414 - 1.114 800 — Notes due 2024 3.291 2.895 - 3.900 1,650 1,000 Notes due 2025 1.724 0.687 - 3.326 4,000 750 Notes due 2026 2.954 2,250 2,250 Notes due 2027 2.379 1.018 - 8.000 2,000 — Notes due 2028 3.850 600 — Notes due 2029 3.250 500 — Notes due 2030 2.236 1,500 — Debentures due 2031 8.625 108 108 Debentures due 2032 8.414 8.000 - 8.625 222 222 Notes due 2040 2.978 500 — Notes due 2041 6.000 850 — Notes due 2043 5.250 1,000 — Notes due 2044 5.050 850 — Notes due 2047 4.950 500 — Notes due 2049 4.200 500 — Notes due 2050 2.763 2.343 - 3.078 1,750 — Debentures due 2097 7.250 84 — Bank loans due 2021 - 2023 1.530 1.240 - 2.004 1,948 — 3.400% loan 3 3.400 218 218 Medium-term notes, maturing from 2021 to 2038 6.131 0.000 - 8.875 37 38 Notes due 2020 — 5,054 Total including debt due within one year 33,507 18,730 Debt due within one year (2,600) (5,054) Fair market valuation adjustment of Noble long-term debt 1,690 — Reclassified from short-term debt 9,825 9,750 Unamortized discounts and debt issuance costs (102) (17) Finance lease liabilities 4 447 282 Total long-term debt $ 42,767 $ 23,691 1 Weighted-average interest rate at December 31, 2020 2 Range of interest rates at December 31, 2020. 3 Maturity date is conditional upon the occurrence of certain events. 2022 is the earliest period in which the loan may become payable 4 For details on finance lease liabilities, see Note 5 beginning on page 69 Chevron has an automatic shelf registration statement that expires in August 2023. This registration statement is for an unspecified amount of nonconvertible debt securities issued or guaranteed by Chevron Corporation or CUSA. Long-term debt excluding finance lease liabilities with a principal balance of $33,507 matures as follows: 2021 – $2,600; 2022 – $5,548; 2023 – $6,475; 2024 – $1,650; 2025 – $4,000; and after 2025 – $13,234. The company completed bond issuances of $8,000 and $4,000 in May and August 2020, respectively. Chevron also assumed total debt, including finance lease obligations, with a fair value of approximately $9,400, associated with the acquisition of Noble on October 5, 2020. Included in the debt assumed from Noble were senior notes, with an aggregate principal amount of $5,800, with interest rates ranging from 3.250 percent to 8.000 percent and maturity dates ranging from 2023 to 2049. On January 6, 2021, Chevron announced that the aggregate principal amount of $5,697 of prior Noble senior notes were exchanged for new See Note 7

Accounting for Suspended Explor

Accounting for Suspended Exploratory Wells	12 Months Ended
Accounting for Suspended Exploratory Wells	Dec. 31, 2020
Accounting for Suspended Exploratory Wells [Abstract]
Accounting for Suspended Exploratory Wells	Accounting for Suspended Exploratory Wells The company continues to capitalize exploratory well costs after the completion of drilling when the well has found a sufficient quantity of reserves to justify completion as a producing well, and the business unit is making sufficient progress assessing the reserves and the economic and operating viability of the project. If either condition is not met or if the company obtains information that raises substantial doubt about the economic or operational viability of the project, the exploratory well would be assumed to be impaired, and its costs, net of any salvage value, would be charged to expense. The following table indicates the changes to the company’s suspended exploratory well costs for the three years ended December 31, 2020: 2020 2019 2018 Beginning balance at January 1 $ 3,041 $ 3,563 $ 3,702 Additions to capitalized exploratory well costs pending the determination of proved reserves 28 244 207 Reclassifications to wells, facilities and equipment based on the determination of proved reserves (102) (500) (13) Capitalized exploratory well costs charged to expense (667) (125) (333) Other * 212 (141) — Ending balance at December 31 $ 2,512 $ 3,041 $ 3,563 * 2020 represents fair value of well costs acquired in the Noble acquisition. 2019 represents property sales. The following table provides an aging of capitalized well costs and the number of projects for which exploratory well costs have been capitalized for a period greater than one year since the completion of drilling. The aging of the former Noble wells is based on the date the drilling was completed, rather than Chevron’s October 2020 acquisition of Noble. At December 31 2020 2019 2018 Exploratory well costs capitalized for a period of one year or less $ 26 $ 214 $ 202 Exploratory well costs capitalized for a period greater than one year 2,486 2,827 3,361 Balance at December 31 $ 2,512 $ 3,041 $ 3,563 Number of projects with exploratory well costs that have been capitalized for a period greater than one year * 17 22 30 * Certain projects have multiple wells or fields or both. Of the $2,486 of exploratory well costs capitalized for more than one year at December 31, 2020, $1,197 is related to 7 projects that had drilling activities underway or firmly planned for the near future. The $1,289 balance is related to 10 projects in areas requiring a major capital expenditure before production could begin and for which additional drilling efforts were not underway or firmly planned for the near future. Additional drilling was not deemed necessary because the presence of hydrocarbons had already been established, and other activities were in process to enable a future decision on project development. The projects for the $1,289 referenced above had the following activities associated with assessing the reserves and the projects’ economic viability: (a) $826 (seven projects) – undergoing front-end engineering and design with final investment decision expected within four years; (b) $463 (three projects) – development alternatives under review. While progress was being made on all 17 projects, the decision on the recognition of proved reserves under SEC rules in some cases may not occur for several years because of the complexity, scale and negotiations associated with the projects. More than half of these decisions are expected to occur in the next five years. The $2,486 of suspended well costs capitalized for a period greater than one year as of December 31, 2020, represents 89 exploratory wells in 17 projects. The tables below contain the aging of these costs on a well and project basis: Aging based on drilling completion date of individual wells: Amount Number of wells 2000-2009 $ 342 17 2010-2014 1,457 54 2015-2019 687 18 Total $ 2,486 89 Aging based on drilling completion date of last suspended well in project: Amount Number of projects 2003-2012 $ 371 4 2013-2016 1,627 8 2017-2020 488 5 Total $ 2,486 17

Stock Options and Other Share-B

Stock Options and Other Share-Based Compensation	12 Months Ended
Stock Options and Other Share-Based Compensation	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock Options and Other Share-Based Compensation	Stock Options and Other Share-Based Compensation Compensation expense for stock options for 2020, 2019 and 2018 was $94 ($74 after tax), $81 ($64 after tax) and $105 ($83 after tax), respectively. In addition, compensation expense for stock appreciation rights, restricted stock, performance shares and restricted stock units was $96 ($76 after tax), $313 ($266 after tax) and $60 ($47 after tax) for 2020, 2019 and 2018, respectively. No significant stock-based compensation cost was capitalized at December 31, 2020, or December 31, 2019. Cash received in payment for option exercises under all share-based payment arrangements for 2020, 2019 and 2018 was $226, $1,090 and $1,159, respectively. Actual tax benefits realized for the tax deductions from option exercises were $8, $43 and $43 for 2020, 2019 and 2018, respectively. Cash paid to settle performance shares, restricted stock units and stock appreciation rights was $95, $119 and $157 for 2020, 2019 and 2018, respectively. Cash paid in 2020 included $11 million for Noble awards paid under change-in-control plan provisions. Awards under the Chevron Long-Term Incentive Plan (LTIP) may take the form of, but are not limited to, stock options, restricted stock, restricted stock units, stock appreciation rights, performance shares and nonstock grants. From April 2004 through May 2023, no more than 260 million shares may be issued under the LTIP. For awards issued on or after May 29, 2013, no more than 50 million of those shares may be in a form other than a stock option, stock appreciation right or award requiring full payment for shares by the award recipient. For the major types of awards issued before January 1, 2017, the contractual terms vary between three years for the performance shares and restricted stock units, and 10 years for the stock options and stock appreciation rights. For awards issued after January 1, 2017, contractual terms vary between three years for the performance shares and special restricted stock units, five years for standard restricted stock units and 10 years for the stock options and stock appreciation rights. Forfeitures for performance shares, restricted stock units, and stock appreciation rights are recognized as they occur. Forfeitures for stock options are estimated using historical forfeiture data dating back to 1990. Noble Share-Based Plans (Noble Plans) On the closing of the acquisition of Noble in October 2020, outstanding stock options granted under various Noble Plans were exchanged for fully vested Chevron options at a conversion rate of 0.1191 Chevron shares for each Noble share. These awards retained the same provision as the original Noble Plans. Awards issued may be exercised for up to 5 years after termination of employment, depending upon the termination type, or the original expiration date, whichever is earlier. Other awards issued under the Noble Plans included restricted stock, phantom stock units, and performance shares that retained the same provisions as the original Noble Plans. Upon termination of employment due to change-in-control, all unvested awards issued under the Noble Plans, including stock options, restricted stock, phantom stock units and performance shares become vested on the termination date. Fair Value and Assumptions The fair market values of stock options and stock appreciation rights granted in 2020, 2019 and 2018 were measured on the date of grant using the Black-Scholes option-pricing model, with the following weighted-average assumptions: Year ended December 31 2020 2019 2018 Expected term in years 1 6.6 6.6 6.5 Volatility 2 20.8 % 20.5 % 21.2 % Risk-free interest rate based on zero coupon U.S. treasury note 1.5 % 2.6 % 2.6 % Dividend yield 4.0 % 3.8 % 3.8 % Weighted-average fair value per option granted $ 13.00 $ 15.82 $ 18.18 1 Expected term is based on historical exercise and post-vesting cancellation data. 2 Volatility rate is based on historical stock prices over an appropriate period, generally equal to the expected term. A summary of option activity, including Noble, during 2020 is presented below: Shares (Thousands) Weighted-Average Averaged Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at January 1, 2020 86,641 $ 103.22 Granted 8,281 $ 150.98 Exercised (2,739) $ 78.92 Forfeited (2,033) $ 110.72 Outstanding at December 31, 2020 90,150 $ 108.17 4.11 $ 23 Exercisable at December 31, 2020 80,860 $ 107.65 3.59 $ 23 The total intrinsic value (i.e., the difference between the exercise price and the market price) of options exercised during 2020, 2019 and 2018 was $92, $516 and $506, respectively. During this period, the company continued its practice of issuing treasury shares upon exercise of these awards. As of December 31, 2020, there was $57 of total unrecognized before-tax compensation cost related to nonvested share-based compensation arrangements granted under the plan. That cost is expected to be recognized over a weighted-average period of 1.7 years. At January 1, 2020, the number of LTIP performance shares outstanding was equivalent to 4,386,784 shares. During 2020, 2,064,598 performance shares were granted, 676,282 shares vested with cash proceeds distributed to recipients and 1,340,303 shares were forfeited. At December 31, 2020, performance shares outstanding were 4,434,797. The fair value of the liability recorded for these instruments was $385, and was measured using the Monte Carlo simulation method. At January 1, 2020, the number of restricted stock units outstanding was equivalent to 2,512,345 shares. During 2020, 1,253,337 restricted stock units were granted, 165,007 units vested with cash proceeds distributed to recipients and 296,742 units were forfeited. At December 31, 2020, restricted stock units outstanding were 3,303,933. The fair value of the liability recorded for the vested portion of these instruments was $197, valued at the stock price as of December 31, 2020. In addition, outstanding stock appreciation rights that were granted under LTIP totaled approximately 4.1 million equivalent shares as of December 31, 2020. The fair value of the liability recorded for the vested portion of these instruments was $34.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The company has defined benefit pension plans for many employees. The company typically prefunds defined benefit plans as required by local regulations or in certain situations where prefunding provides economic advantages. In the United States, all qualified plans are subject to the Employee Retirement Income Security Act (ERISA) minimum funding standard. The company does not typically fund U.S. nonqualified pension plans that are not subject to funding requirements under laws and regulations because contributions to these pension plans may be less economic and investment returns may be less attractive than the company’s other investment alternatives. The company also sponsors other postretirement benefit (OPEB) plans that provide medical and dental benefits, as well as life insurance for some active and qualifying retired employees. The plans are unfunded, and the company and retirees share the costs. For the company’s main U.S. medical plan, the increase to the pre-Medicare company contribution for retiree medical coverage is limited to no more than 4 percent each year. Certain life insurance benefits are paid by the company. The company recognizes the overfunded or underfunded status of each of its defined benefit pension and OPEB plans as an asset or liability on the Consolidated Balance Sheet. The funded status of the company’s pension and OPEB plans for 2020 and 2019 follows: Pension Benefits 2020 2019 Other Benefits U.S. Int’l. U.S. Int’l. 2020 2019 Change in Benefit Obligation Benefit obligation at January 1 $ 14,465 $ 5,680 $ 11,726 $ 4,820 $ 2,520 $ 2,430 Service cost 497 130 406 139 38 36 Interest cost 353 175 397 199 71 96 Plan participants’ contributions — 3 — 4 59 72 Plan amendments — — — 29 — — Actuarial (gain) loss 1,782 550 2,922 673 191 125 Foreign currency exchange rate changes — 158 — 121 (1) 2 Benefits paid (2,045) (368) (1,035) (302) (214) (240) Divestitures/Acquisitions 22 — 49 — — (1) Curtailment 92 (21) — (3) (14) — Benefit obligation at December 31 15,166 6,307 14,465 5,680 2,650 2,520 Change in Plan Assets Fair value of plan assets at January 1 10,177 4,791 8,532 4,142 — — Actual return on plan assets 848 500 1,548 566 — — Foreign currency exchange rate changes — 174 — 115 — — Employer contributions 950 263 1,096 266 155 168 Plan participants’ contributions — 3 — 4 59 72 Benefits paid (2,045) (368) (1,035) (302) (214) (240) Divestitures/Acquisitions — — 36 — — — Fair value of plan assets at December 31 9,930 5,363 10,177 4,791 — — Funded status at December 31 $ (5,236) $ (944) $ (4,288) $ (889) $ (2,650) $ (2,520) Amounts recognized on the Consolidated Balance Sheet for the company’s pension and OPEB plans at December 31, 2020 and 2019, include: Pension Benefits 2020 2019 Other Benefits U.S. Int’l. U.S. Int’l. 2020 2019 Deferred charges and other assets $ 24 $ 547 $ 23 $ 413 $ — $ — Accrued liabilities (258) (76) (239) (71) (153) (174) Noncurrent employee benefit plans (5,002) (1,415) (4,072) (1,231) (2,497) (2,346) Net amount recognized at December 31 $ (5,236) $ (944) $ (4,288) $ (889) $ (2,650) $ (2,520) For the years ended December 31, 2020 and December 31, 2019, the increase in benefit obligations was primarily due to actuarial losses caused by lower discount rates used to value the obligations. Amounts recognized on a before-tax basis in “Accumulated other comprehensive loss” for the company’s pension and OPEB plans were $7,278 and $6,357 at the end of 2020 and 2019, respectively. These amounts consisted of: Pension Benefits 2020 2019 Other Benefits U.S. Int’l. U.S. Int’l. 2020 2019 Net actuarial loss $ 5,714 $ 1,401 $ 5,135 $ 1,269 $ 260 $ 74 Prior service (credit) costs 3 86 5 102 (186) (228) Total recognized at December 31 $ 5,717 $ 1,487 $ 5,140 $ 1,371 $ 74 $ (154) The accumulated benefit obligations for all U.S. and international pension plans were $13,608 and $5,758, respectively, at December 31, 2020, and $12,781 and $5,203, respectively, at December 31, 2019. Information for U.S. and international pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2020 and 2019, was: Pension Benefits 2020 2019 U.S. Int’l. U.S. Int’l. Projected benefit obligations $ 15,103 $ 2,084 $ 14,401 $ 1,554 Accumulated benefit obligations 13,545 1,622 12,718 1,268 Fair value of plan assets 9,842 600 10,091 278 The components of net periodic benefit cost and amounts recognized in the Consolidated Statement of Comprehensive Income for 2020, 2019 and 2018 are shown in the table below: Pension Benefits 2020 2019 2018 Other Benefits U.S. Int’l. U.S. Int’l. U.S. Int’l. 2020 2019 2018 Net Periodic Benefit Cost Service cost $ 497 $ 130 $ 406 $ 139 $ 480 $ 141 $ 38 $ 36 $ 42 Interest cost 353 175 397 199 370 206 71 96 94 Expected return on plan assets (650) (209) (565) (231) (636) (253) — — — Amortization of prior service costs (credits) 2 10 2 11 2 10 (28) (28) (28) Recognized actuarial losses 385 45 239 21 304 29 3 (3) 15 Settlement losses 620 37 259 3 411 33 — — — Curtailment losses (gains) 92 2 — 16 — 3 (27) — — Total net periodic benefit cost 1,299 190 738 158 931 169 57 101 123 Changes Recognized in Comprehensive Income Net actuarial (gain) loss during period 1,584 230 1,939 338 151 12 190 128 (248) Amortization of actuarial loss (1,005) (98) (498) (24) (715) (62) (4) 3 (15) Prior service (credits) costs during period — — — 29 — 23 — (1) 3 Amortization of prior service (costs) credits (2) (17) (2) (30) (2) (13) 42 28 28 Total changes recognized in other 577 115 1,439 313 (566) (40) 228 158 (232) Recognized in Net Periodic Benefit Cost and Other Comprehensive Income $ 1,876 $ 305 $ 2,177 $ 471 $ 365 $ 129 $ 285 $ 259 $ (109) Assumptions The following weighted-average assumptions were used to determine benefit obligations and net periodic benefit costs for years ended December 31: Pension Benefits 2020 2019 2018 Other Benefits U.S. Int’l. U.S. Int’l. U.S. Int’l. 2020 2019 2018 Assumptions used to determine benefit obligations: Discount rate 2.4 % 2.4 % 3.1 % 3.2 % 4.2 % 4.4 % 2.6 % 3.2 % 4.4 % Rate of compensation increase 4.5 % 4.0 % 4.5 % 4.0 % 4.5 % 4.0 % N/A N/A N/A Assumptions used to determine net periodic benefit cost: Discount rate for service cost 3.3 % 3.2 % 4.4 % 4.4 % 3.7 % 3.9 % 3.5 % 4.6 % 3.9 % Discount rate for interest cost 2.6 % 3.2 % 3.7 % 4.4 % 3.0 % 3.9 % 3.0 % 4.2 % 3.5 % Expected return on plan assets 6.5 % 4.5 % 6.8 % 5.6 % 6.8 % 5.5 % N/A N/A N/A Rate of compensation increase 4.5 % 4.0 % 4.5 % 4.0 % 4.5 % 4.0 % N/A N/A N/A Expected Return on Plan Assets The company’s estimated long-term rates of return on pension assets are driven primarily by actual historical asset-class returns, an assessment of expected future performance, advice from external actuarial firms and the incorporation of specific asset-class risk factors. Asset allocations are periodically updated using pension plan asset/liability studies, and the company’s estimated long-term rates of return are consistent with these studies. For 2020, the company used an expected long-term rate of return of 6.50 percent for U.S. pension plan assets, which account for 65 percent of the company’s pension plan assets. In both 2019 and 2018, the company used a long-term rate of return of 6.75 percent for these plans. The market-related value of assets of the main U.S. pension plan used in the determination of pension expense was based on the market values in the three months preceding the year-end measurement date. Management considers the three Discount Rate The discount rate assumptions used to determine the U.S. and international pension and OPEB plan obligations and expense reflect the rate at which benefits could be effectively settled, and are equal to the equivalent single rate resulting from yield curve analysis. This analysis considered the projected benefit payments specific to the company’s plans and the yields on high-quality bonds. The projected cash flows were discounted to the valuation date using the yield curve for the main U.S. pension and OPEB plans. The effective discount rates derived from this analysis at the end of 2020 were 2.4 for the main U.S. pension plan and 2.4 for the main U.S. OPEB plan. The discount rates for these plans at the end of 2019 were 3.1 and 3.1 percent, respectively, while in 2018 they were 4.2 and 4.3 percent for these plans, respectively. Other Benefit Assumptions For the measurement of accumulated postretirement benefit obligation at December 31, 2020, for the main U.S. OPEB plan, the assumed health care cost-trend rates start with 6.1 percent in 2021 and gradually decline to 4.5 percent for 2027 and beyond. For this measurement at December 31, 2019, the assumed health care cost-trend rates started with 6.8 percent in 2020 and gradually declined to 4.5 percent for 2025 and beyond. Plan Assets and Investment Strategy The fair value measurements of the company’s pension plans for 2020 and 2019 are as follows: U.S. Int’l. Total Level 1 Level 2 Level 3 NAV Total Level 1 Level 2 Level 3 NAV At December 31, 2019 Equities U.S. 1 $ 1,769 $ 1,769 $ — $ — $ — $ 471 $ 471 $ — $ — $ — International 1,958 1,958 — — — 422 421 — 1 — Collective Trusts/Mutual Funds 2 1,079 52 — — 1,027 184 6 — — 178 Fixed Income Government 523 — 523 — — 265 144 121 — — Corporate 1,444 — 1,444 — — 493 — 490 3 — Bank Loans 120 — 113 7 — — — — — — Mortgage/Asset Backed 1 — 1 — — 4 — 4 — — Collective Trusts/Mutual Funds 2 963 — — — 963 2,230 5 — — 2,225 Mixed Funds 3 — — — — — 84 7 77 — — Real Estate 4 1,089 — — — 1,089 277 — — 55 222 Alternative Investments 924 — — — 924 — — — — — Cash and Cash Equivalents 235 228 7 — — 338 334 2 — 2 Other 5 72 (5) 29 44 4 23 — 21 2 — Total at December 31, 2019 $ 10,177 $ 4,002 $ 2,117 $ 51 $ 4,007 $ 4,791 $ 1,388 $ 715 $ 61 $ 2,627 At December 31, 2020 Equities U.S. 1 $ 2,286 $ 2,286 $ — $ — $ — $ 443 $ 443 $ — $ — $ — International 2,211 2,210 — 1 — 373 373 — — — Collective Trusts/Mutual Funds 2 1,107 48 — — 1,059 192 7 — — 185 Fixed Income Government 231 — 231 — — 240 125 115 — — Corporate 778 — 778 — — 578 10 568 — — Bank Loans 129 — 127 2 — — — — — — Mortgage/Asset Backed 1 — 1 — — 4 — 4 — — Collective Trusts/Mutual Funds 2 1,901 13 — — 1,888 2,520 4 — — 2,516 Mixed Funds 3 — — — — — 127 38 89 — — Real Estate 4 1,018 — — — 1,018 448 — — 45 403 Alternative Investments — — — — — — — — — — Cash and Cash Equivalents 221 209 12 — — 417 408 3 — 6 Other 5 47 (19) 22 41 3 21 (2) 19 4 — Total at December 31, 2020 $ 9,930 $ 4,747 $ 1,171 $ 44 $ 3,968 $ 5,363 $ 1,406 $ 798 $ 49 $ 3,110 1 U.S. equities include investments in the company’s common stock in the amount of $4 at December 31, 2020, and $6 at December 31, 2019. 2 Collective Trusts/Mutual Funds for U.S. plans are entirely index funds; for International plans, they are mostly unit trust and index funds. 3 Mixed funds are composed of funds that invest in both equity and fixed-income instruments in order to diversify and lower risk. 4 The year-end valuations of the U.S. real estate assets are based on third-party appraisals that occur at least once a year for each property in the portfolio. 5 The “Other” asset class includes net payables for securities purchased but not yet settled (Level 1); dividends and interest- and tax-related receivables (Level 2); insurance contracts (Level 3); and investments in private-equity limited partnerships (NAV). The effects of fair value measurements using significant unobservable inputs on changes in Level 3 plan assets are outlined below: Equity Fixed Income International Corporate Bank Loans Real Estate Other Total Total at December 31, 2018 $ 1 $ 21 $ 5 $ 56 $ 46 $ 129 Actual Return on Plan Assets: Assets held at the reporting date (1) 1 — — (1) (1) Assets sold during the period — — — — — — Purchases, Sales and Settlements — (19) — (1) 1 (19) Transfers in and/or out of Level 3 1 — 2 — — 3 Total at December 31, 2019 $ 1 $ 3 $ 7 $ 55 $ 46 $ 112 Actual Return on Plan Assets: Assets held at the reporting date — — — — 1 1 Assets sold during the period — — — (10) — (10) Purchases, Sales and Settlements — (3) (5) — (2) (10) Transfers in and/or out of Level 3 — — — — — — Total at December 31, 2020 $ 1 $ — $ 2 $ 45 $ 45 $ 93 The primary investment objectives of the pension plans are to achieve the highest rate of total return within prudent levels of risk and liquidity, to diversify and mitigate potential downside risk associated with the investments, and to provide adequate liquidity for benefit payments and portfolio management. The company’s U.S. and U.K. pension plans comprise 91 percent of the total pension assets. Both the U.S. and U.K. plans have an Investment Committee that regularly meets during the year to review the asset holdings and their returns. To assess the plans’ investment performance, long-term asset allocation policy benchmarks have been established. For the primary U.S. pension plan, the company’s Investment Committee has established the following approved asset allocation ranges: Equities 40–65 percent, Fixed Income 20–40 percent, Real Estate 0–15 percent, Alternative Investments 0–5 percent and Cash 0–25 percent. For the U.K. pension plan, the U.K. Board of Trustees has established the following asset allocation guidelines: Equities 10–30 percent, Fixed Income 55–85 percent, Real Estate 5–15 percent, and Cash 0–5 percent. The other significant international pension plans also have established maximum and minimum asset allocation ranges that vary by plan. Actual asset allocation within approved ranges is based on a variety of factors, including market conditions and illiquidity constraints. To mitigate concentration and other risks, assets are invested across multiple asset classes with active investment managers and passive index funds. Cash Contributions and Benefit Payments In 2020, the company contributed $950 and $263 to its U.S. and international pension plans, respectively. In 2021, the company expects contributions to be approximately $1,050 to its U.S. plans and $200 to its international pension plans. Actual contribution amounts are dependent upon investment returns, changes in pension obligations, regulatory environments, tax law changes and other economic factors. Additional funding may ultimately be required if investment returns are insufficient to offset increases in plan obligations. The company anticipates paying OPEB benefits of approximately $153 in 2021; $155 was paid in 2020. The following benefit payments, which include estimated future service, are expected to be paid by the company in the next 10 years: Pension Benefits Other U.S. Int’l. Benefits 2021 $ 1,779 $ 658 $ 153 2022 919 220 162 2023 1,069 225 158 2024 1,097 243 154 2025 1,068 250 151 2026-2030 4,856 1,400 706 Employee Savings Investment Plan Eligible employees of Chevron and certain of its subsidiaries participate in the Chevron Employee Savings Investment Plan (ESIP). Compensation expense for the ESIP totaled $281, $284 and $270 in 2020, 2019 and 2018, respectively. Benefit Plan Trusts Prior to its acquisition by Chevron, Texaco established a benefit plan trust for funding obligations under some of its benefit plans. At year-end 2020, the trust contained 14.2 million shares of Chevron treasury stock. The trust will sell the shares or use the dividends from the shares to pay benefits only to the extent that the company does not pay such benefits. The company intends to continue to pay its obligations under the benefit plans. The trustee will vote the shares held in the trust as instructed by the trust’s beneficiaries. The shares held in the trust are not considered outstanding for earnings-per-share purposes until distributed or sold by the trust in payment of benefit obligations. Prior to its acquisition by Chevron, Unocal established various grantor trusts to fund obligations under some of its benefit plans, including the deferred compensation and supplemental retirement plans. At December 31, 2020 and 2019, trust assets of $36 and $35, respectively, were invested primarily in interest-earning accounts. Employee Incentive Plans The Chevron Incentive Plan is an annual cash bonus plan for eligible employees that links awards to corporate, business unit and individual performance in the prior year. Charges to expense for cash bonuses were $462, $826 and $1,048 in 2020, 2019 and 2018, respectively. Chevron also has the LTIP for officers and other regular salaried employees of the company and its subsidiaries who hold positions of significant responsibility. Awards under the LTIP consist of stock options and other share-based compensation that are described in Note 20

Other Contingencies and Commitm

Other Contingencies and Commitments	12 Months Ended
Other Contingencies and Commitments	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Other Contingencies and Commitments	Other Contingencies and Commitments Income Taxes The company calculates its income tax expense and liabilities quarterly. These liabilities generally are subject to audit and are not finalized with the individual taxing authorities until several years after the end of the annual period for which income taxes have been calculated. Refer to Note 15 , beginning on page 79, for a discussion of the periods for which tax returns have been audited for the company’s major tax jurisdictions and a discussion for all tax jurisdictions of the differences between the amount of tax benefits recognized in the financial statements and the amount taken or expected to be taken in a tax return. Settlement of open tax years, as well as other tax issues in countries where the company conducts its businesses, are not expected to have a material effect on the consolidated financial position or liquidity of the company and, in the opinion of management, adequate provisions have been made for all years under examination or subject to future examination. Guarantees Indemnifications In the acquisition of Unocal, the company assumed certain indemnities relating to contingent environmental liabilities associated with assets that were sold in 1997. The acquirer of those assets shared in certain environmental remediation costs up to a maximum obligation of $200, which had been reached at December 31, 2009. Under the indemnification agreement, after reaching the $200 obligation, Chevron is solely responsible until April 2022, when the indemnification expires. The environmental conditions or events that are subject to these indemnities must have arisen prior to the sale of the assets in 1997. Long-Term Unconditional Purchase Obligations and Commitments, Including Throughput and Take-or-Pay Agreements The company and its subsidiaries have certain contingent liabilities with respect to long-term unconditional purchase obligations and commitments, including throughput and take-or-pay agreements, some of which may relate to suppliers’ financing arrangements. The agreements typically provide goods and services, such as pipeline and storage capacity, utilities, and petroleum products, to be used or sold in the ordinary course of the company’s business. The aggregate approximate amounts of required payments under these various commitments are: 2021 – $1,000; 2022 – $1,200; 2023 – $1,300; 2024 – $1,300; 2025 – $1,400; 2026 and after – $8,400. A portion of these commitments may Environmental The company is subject to loss contingencies pursuant to laws, regulations, private claims and legal proceedings related to environmental matters that are subject to legal settlements or that in the future may require the company to take action to correct or ameliorate the effects on the environment of prior release of chemicals or petroleum substances, including MTBE, by the company or other parties. Such contingencies may exist for various operating, closed and divested sites, including, but not limited to, federal Superfund sites and analogous sites under state laws, refineries, chemical plants, marketing facilities, crude oil fields, and mining sites. Although the company has provided for known environmental obligations that are probable and reasonably estimable, it is likely that the company will continue to incur additional liabilities. The amount of additional future costs are not fully determinable due to such factors as the unknown magnitude of possible contamination, the unknown timing and extent of the corrective actions that may be required, the determination of the company’s liability in proportion to other responsible parties, and the extent to which such costs are recoverable from third parties. These future costs may be material to results of operations in the period in which they are recognized, but the company does not expect these costs will have a material effect on its consolidated financial position or liquidity. Chevron’s environmental reserve as of December 31, 2020, was $1,139. Included in this balance was $247 related to remediation activities at approximately 145 sites for which the company had been identified as a potentially responsible party under the provisions of the federal Superfund law or analogous state laws which provide for joint and several liability for all responsible parties. Any future actions by regulatory agencies to require Chevron to assume other potentially responsible parties’ costs at designated hazardous waste sites are not expected to have a material effect on the company’s results of operations, consolidated financial position or liquidity. Of the remaining year-end 2020 environmental reserves balance of $892, $611 is related to the company’s U.S. downstream operations, $47 to its international downstream operations, $233 to upstream operations and $1 to other businesses. Liabilities at all sites were primarily associated with the company’s plans and activities to remediate soil or groundwater contamination or both. The company manages environmental liabilities under specific sets of regulatory requirements, which in the United States include the Resource Conservation and Recovery Act and various state and local regulations. No single remediation site at year-end 2020 had a recorded liability that was material to the company’s results of operations, consolidated financial position or liquidity. Refer to Note 23 Other Contingencies Governmental and other entities in California and other jurisdictions have filed legal proceedings against fossil fuel producing companies, including Chevron, purporting to seek legal and equitable relief to address alleged impacts of climate change. Further such proceedings are likely to be filed by other parties. The unprecedented legal theories set forth in these proceedings entail the possibility of damages liability and injunctions against the production of all fossil fuels that, while we believe remote, could have a material adverse effect on the company’s results of operations and financial condition. Management believes that these proceedings are legally and factually meritless and detract from constructive efforts to address the important policy issues presented by climate change, and will vigorously defend against such proceedings. Seven coastal parishes and the State of Louisiana have filed 43 separate lawsuits in Louisiana against numerous oil and gas companies seeking damages for coastal erosion in or near oil fields located within Louisiana’s coastal zone under Louisiana’s State and Local Coastal Resources Management Act (SLCRMA). Chevron entities are defendants in 39 of these cases. The lawsuits allege that the defendants’ historical operations were conducted without necessary permits or failed to comply with permits obtained and seek damages and other relief, including the costs of restoring coastal wetlands allegedly impacted by oil field operations. Plaintiffs’ SLCRMA theories are unprecedented; thus, there remains significant uncertainty about the scope of the claims and alleged damages and any potential effects on the company’s results of operations and financial condition. Management believes that the claims lack legal and factual merit and will continue to vigorously defend against such proceedings . Chevron receives claims from and submits claims to customers; trading partners; joint venture partners; U.S. federal, state and local regulatory bodies; governments; contractors; insurers; suppliers; and individuals. The amounts of these claims,

Asset Retirement Obligations

Asset Retirement Obligations	12 Months Ended
Asset Retirement Obligations	Dec. 31, 2020
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The company records the fair value of a liability for an asset retirement obligation (ARO) both as an asset and a liability when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. The legal obligation to perform the asset retirement activity is unconditional, even though uncertainty may exist about the timing and/or method of settlement that may be beyond the company’s control. This uncertainty about the timing and/or method of settlement is factored into the measurement of the liability when sufficient information exists to reasonably estimate fair value. Recognition of the ARO includes: (1) the present value of a liability and offsetting asset, (2) the subsequent accretion of that liability and depreciation of the asset, and (3) the periodic review of the ARO liability estimates and discount rates. AROs are primarily recorded for the company’s crude oil and natural gas producing assets. No significant AROs associated with any legal obligations to retire downstream long-lived assets have been recognized, as indeterminate settlement dates for the asset retirements prevent estimation of the fair value of the associated ARO. The company performs periodic reviews of its downstream long-lived assets for any changes in facts and circumstances that might require recognition of a retirement obligation. The following table indicates the changes to the company’s before-tax asset retirement obligations in 2020, 2019 and 2018: 2020 2019 2018 Balance at January 1 $ 12,832 $ 14,050 $ 14,214 Liabilities assumed in the Noble acquisition 630 — — Liabilities incurred 10 32 96 Liabilities settled (1,661) (1,694) (830) Accretion expense 560 628 654 Revisions in estimated cash flows 1,245 (184) (84) Balance at December 31 $ 13,616 $ 12,832 $ 14,050 In the table above, the amount associated with “Revisions in estimated cash flows” in 2020 reflects increased cost estimates to decommission wells, equipment and facilities. The long-term portion of the $13,616 balance at the end of 2020 was $11,877.

Revenue

Revenue	12 Months Ended
Revenue	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue from contracts with customers is presented in “Sales and other operating revenue” along with some activity that is accounted for outside the scope of Accounting Standard Codification (ASC) 606, which is not material to this line, on the Consolidated Statement of Income. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another (including buy/sell arrangements) are combined and recorded on a net basis and reported in “Purchased crude oil and products” on the Consolidated Statement of Income. Refer to Note 12 beginning on page 74 for additional information on the company’s segmentation of revenue. Receivables related to revenue from contracts with customers are included in “Accounts and notes receivable, net” on the Consolidated Balance Sheet, net of the allowance for doubtful accounts. The net balance of these receivables was $7,631 and $9,247 at December 31, 2020 and December 31, 2019, respectively. Other items included in “Accounts and notes receivable, net” represent amounts due from partners for their share of joint venture operating and project costs and amounts due from others, primarily related to derivatives, leases, buy/sell arrangements and product exchanges, which are accounted for outside the scope of ASC 606 . Contract assets and related costs are reflected in “Prepaid expenses and other current assets” and contract liabilities are reflected in “Accrued liabilities” and “Deferred credits and other noncurrent obligations” on the Consolidated Balance Sheet. Amounts for these items are not material to the company’s financial position.

Other Financial Information

Other Financial Information	12 Months Ended
Other Financial Information	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Financial Information	Other Financial Information Earnings in 2020 included after-tax gains of approximately $765 relating to the sale of certain properties. Of this amount, approximately $30 and $735 related to downstream and upstream, respectively. Earnings in 2019 included after-tax gains of approximately $1,500 relating to the sale of certain properties, of which approximately $50 and $1,450 related to downstream and upstream assets, respectively. Earnings in 2018 included after-tax gains of approximately $630 relating to the sale of certain properties, of which approximately $365 and $265 related to downstream and upstream assets, respectively. Earnings in 2020 included after-tax charges of approximately $4,800 for impairments and other asset write-offs related to upstream. Earnings in 2019 included after-tax charges of approximately $10,400 for impairments and other asset write-offs related to upstream. Earnings in 2018 included after-tax charges of approximately $2,000 for impairments and other asset write-offs related to upstream. Other financial information is as follows: Year ended December 31 2020 2019 2018 Total financing interest and debt costs $ 735 $ 817 $ 921 Less: Capitalized interest 38 19 173 Interest and debt expense $ 697 $ 798 $ 748 Research and development expenses $ 435 $ 500 $ 453 Excess of replacement cost over the carrying value of inventories (LIFO method) $ 2,749 $ 4,513 $ 5,134 LIFO profits (losses) on inventory drawdowns included in earnings $ (147) $ (9) $ 26 Foreign currency effects * $ (645) $ (304) $ 611 * Includes $(152), $(28) and $416 in 2020, 2019 and 2018, respectively, for the company’s share of equity affiliates’ foreign currency effects.

Summarized Financial Data _ Che

Summarized Financial Data – Chevron Phillips Chemical Company LLC	12 Months Ended
	Dec. 31, 2020
Summarized Financial Data of Subsidiary Two [Abstract]
Summarized Financial Data – Chevron Phillips Chemical Company LLC	Summarized Financial Data – Chevron U.S.A. Inc. Chevron U.S.A. Inc. (CUSA) is a major subsidiary of Chevron Corporation. CUSA and its subsidiaries manage and operate most of Chevron’s U.S. businesses. Assets include those related to the exploration and production of crude oil, natural gas and natural gas liquids and those associated with the refining, marketing, supply and distribution of products derived from petroleum, excluding most of the regulated pipeline operations of Chevron. CUSA also holds the company’s investment in the Chevron Phillips Chemical Company LLC joint venture, which is accounted for using the equity method. The summarized financial information for CUSA and its consolidated subsidiaries is as follows: Year ended December 31 2020 2019 2018 Sales and other operating revenues $ 67,950 $ 109,314 $ 125,076 Total costs and other deductions 72,575 116,365 121,351 Net income (loss) attributable to CUSA (2,676) (5,061) 4,334 At December 31 2020 2019 Current assets $ 10,555 $ 13,059 Other assets 48,054 50,796 Current liabilities 12,403 18,291 Other liabilities 14,102 12,565 Total CUSA net equity $ 32,104 $ 32,999 Memo: Total debt $ 7,133 $ 3,222 Summarized Financial Data – Chevron Phillips Chemical Company LLC Chevron has a 50 percent equity ownership interest in Chevron Phillips Chemical Company LLC (CPChem). Refer to Note 13 , on page 77, for a discussion of CPChem operations. Summarized financial information for 100 percent of CPChem is presented in the table below: Year ended December 31 2020 2019 2018 Sales and other operating revenues $ 8,407 $ 9,333 $ 11,310 Costs and other deductions 7,221 7,863 9,812 Net income attributable to CPChem 1,260 1,760 2,069 At December 31 2020 2019 Current assets $ 2,816 $ 2,554 Other assets 14,210 14,314 Current liabilities 1,394 1,247 Other liabilities 3,380 3,174 Total CPChem net equity $ 12,252 $ 12,447

Restructuring and Reorganizatio

Restructuring and Reorganization Costs	12 Months Ended
Restructuring and Reorganization Costs	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Reorganization Costs	Restructuring and Reorganization Costs In 2020, the company recorded severance accruals and adjustments for employee reduction programs related to enterprise-wide restructuring, which are expected to be substantially completed by the end of 2021. A before-tax charge of $859 ($670 after-tax) was recorded in 2020, with $690 reported as "Operating expenses" and $169 reported as “Selling, general and administrative expenses" on the Consolidated Statement of Income. Approximately $127 ($97 after-tax) is associated with terminations in U.S. Upstream, $288 ($228 after-tax) in International Upstream, $112 ($85 after-tax) in U.S. Downstream, $69 ($54 after-tax) in International Downstream and $263 ($206 after-tax) in All Other. During 2020, the company made payments of $396 associated with these liabilities. The following table summarizes the accrued severance liability, which is classified as current on the Consolidated Balance Sheet. Amounts Before Tax Balance at January 1, 2020 $ 7 Accruals/Adjustments 859 Payments (396) Balance at December 31, 2020 $ 470

Financial Instruments - Credit

Financial Instruments - Credit Losses	12 Months Ended
Financial Instruments - Credit Losses	Dec. 31, 2020
Receivables [Abstract]
Financial Instruments - Credit Losses	Financial Instruments - Credit Losses Chevron adopted Accounting Standards Update (ASU) 2016-13 Financial Instruments - Credit Losses, and its related amendments at the effective date of January 1, 2020. The standard replaces the “incurred loss model” and requires an estimate of expected credit losses, measured over the contractual life of a financial instrument, that considers forecast of future economic conditions in addition to information about past events and current conditions. The cumulative-effect adjustment to the opening retained earnings at January 1, 2020 was a reduction of $25, representing a decrease to the net accounts and notes receivable balances shown on the company’s consolidated balance sheet on page 61. Chevron’s expected credit loss allowance balance was $671 as of December 31, 2020 and $849 as of December 31, 2019, with a majority of the allowance relating to non-trade receivable balances. A reduction in the allowance for non-trade receivables of $550 was recorded in the second quarter as an agreement was reached with a government joint venture partner that resulted in the write-off of the associated receivable balances. Additionally, new allowances of $265 were recorded in the second and third quarters associated with other than trade receivables. The majority of the company’s receivable balance is concentrated in trade receivables, with a balance of $9.5 billion as of December 31, 2020, which reflects the company’s diversified sources of revenues and is dispersed across the company’s broad worldwide customer base. As a result, the company believes the concentration of credit risk is limited. The company routinely assesses the financial strength of its customers. When the financial strength of a customer is not considered sufficient, alternative risk mitigation measures may be deployed, including requiring pre-payments, letters of credit or other acceptable forms of collateral. Once credit is extended and a receivable balance exists, the company applies a quantitative calculation to current trade receivable balances that reflects credit risk predictive analysis, including probability of default and loss given default, which takes into consideration current and forward-looking market data as well as the company’s historical loss data. This statistical approach becomes the basis of the company’s expected credit loss allowance for current trade receivables with payment terms that are typically short-term in nature, with most due in less than 90 days. The company continues to monitor credit risk in response to the COVID-19 pandemic and the significant reduction in crude prices resulting from decreased demand associated with government-mandated travel restrictions. Chevron's non-trade receivable balance was $3.3 billion as of December 31, 2020, which includes receivables from certain governments in their capacity as joint venture partners. Joint venture partner balances that are paid as per contract terms or not yet due are subject to the statistical analysis described above while past due balances are subject to additional qualitative management quarterly review. This management review includes review of reasonable and supportable repayment forecasts. Non-trade receivables also include employee and tax receivables that are deemed immaterial and low risk. Equity affiliate loans are also considered non-trade and during the second quarter 2020 review, a $560 allowance was recognized within “Investments and advances” on the Consolidated Balance Sheet.

Acquisition of Noble Energy, In

Acquisition of Noble Energy, Inc.	12 Months Ended
Acquisition of Noble Energy, Inc.	Dec. 31, 2020
Business Combinations [Abstract]
Acquisition of Noble Energy, Inc.	Acquisition of Noble Energy, Inc. On October 5, 2020, the company acquired Noble Energy, Inc., an independent oil and gas exploration and production company. Noble’s principal upstream operations are in the United States, the Eastern Mediterranean and West Africa. Noble’s operations also include an integrated midstream business in the United States. The acquisition of Noble provides the company with low-cost proved reserves, attractive undeveloped resources and cash-generating assets. The aggregate purchase price of Noble was $4,109, with approximately 58 million shares of Chevron common stock issued as consideration in the transaction, representing approximately 3 percent of shares of Chevron common stock outstanding immediately after the acquisition. As part of the transaction, the company recognized long-term debt and finance leases with a fair value of $9,231. The acquisition was accounted for as a business combination under ASC 805, which requires assets acquired and liabilities assumed to be measured at their acquisition date fair values. Provisional fair value measurements were made for acquired assets and liabilities, and adjustments to those measurements may be made in subsequent periods, up to one year from the acquisition date, as information necessary to complete the analysis is obtained. Oil and gas properties were valued using a discounted cash flow approach that incorporated internally generated price assumptions and production profiles together with appropriate operating cost and development cost assumptions. Debt assumed in the acquisition was valued based on observable market prices for Noble’s debt. As a result of measuring the assets acquired and the liabilities assumed at fair value, there was no goodwill or bargain purchase recognized. The following table summarizes the values assigned to assets acquired and liabilities assumed: At October 5, 2020 Current assets $ 1,105 Investments and long-term receivables 1,282 Properties (includes $14,935 for oil and gas properties) 16,703 Other assets 607 Total assets acquired 19,697 Current liabilities 1,829 Long-term debt and finance leases 9,231 Deferred income taxes 2,355 Other liabilities 1,394 Total liabilities assumed 14,809 Noncontrolling interest and redeemable noncontrolling interest 779 Net assets acquired $ 4,109 The following unaudited pro forma summary presents the results of operations as if the acquisition of Noble had occurred January 1, 2019: Year ended December 31 2020 2019 Sales and other operating revenues $ 96,980 $ 144,303 Net income $ (9,890) $ 1,412 The pro forma summary uses estimates and assumptions based on information available at the time. Management believes the estimates and assumptions to be reasonable; however, actual results may differ significantly from this pro forma financial information. The pro forma information does not reflect any synergistic savings that might be achieved from combining the operations and is not intended to reflect the actual results that would have occurred had the companies actually been combined during the periods presented.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
Schedule II - Valuation and Qualifying Accounts	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II — Valuation and Qualifying Accounts Year ended December 31 Millions of Dollars 2020 2019 2018 Employee Termination Benefits Balance at January 1 $ 7 $ 19 $ 62 Additions (reductions) charged to expense 859 6 5 Payments (396) (18) (48) Balance at December 31 $ 470 $ 7 $ 19 Expected Credit Losses Beginning allowance balance for expected credit losses $ 849 $ 980 $ 606 Current period provision 573 (128) 379 Write-offs charged against the allowance, if any (751) (3) (5) Recoveries of amounts previously written-off, if any — — — Balance at December 31 $ 671 $ 849 $ 980 Deferred Income Tax Valuation Allowance 1 Balance at January 1 $ 15,965 $ 15,973 $ 16,574 Additions to deferred income tax expense 2 2,892 1,336 2,000 Reduction of deferred income tax expense (1,095) (1,344) (2,601) Balance at December 31 $ 17,762 $ 15,965 $ 15,973 1 See also Note 15 to the Consolidated Financial Statements, beginning on page 79. 2 Includes $974 of additions associated with the purchase of Noble.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2020
Accounting Policies [Abstract]
General	General The company’s Consolidated Financial Statements are prepared in accordance with accounting principles generally accepted in the United States of America. These require the use of estimates and assumptions that affect the assets, liabilities, revenues and expenses reported in the financial statements, as well as amounts included in the notes thereto, including discussion and disclosure of contingent liabilities. Although the company uses its best estimates and judgments, actual results could differ from these estimates as circumstances change and additional information becomes known.
Subsidiary and Affiliated Companies	Subsidiary and Affiliated Companies The Consolidated Financial Statements include the accounts of controlled subsidiary companies more than 50 percent-owned and any variable interest entities in which the company is the primary beneficiary. Undivided interests in oil and gas joint ventures and certain other assets are consolidated on a proportionate basis. Investments in and advances to affiliates in which the company has a substantial ownership interest of approximately 20 percent to 50 percent, or for which the company exercises significant influence but not control over policy decisions, are accounted for by the equity method. Investments in affiliates are assessed for possible impairment when events indicate that the fair value of the investment may be below the company’s carrying value. When such a condition is deemed to be other than temporary, the carrying value of the investment is written down to its fair value, and the amount of the write-down is included in net income. In making the determination as to whether a decline is other than temporary, the company considers such factors as the duration and extent of the decline, the investee’s financial performance, and the company’s ability and intention to retain its investment for a period that will be sufficient to allow for any anticipated recovery in the investment’s market value. The new cost basis of investments in these equity investees is not changed for subsequent recoveries in fair value.
Noncontrolling Interests	Noncontrolling Interests Ownership interests in the company’s subsidiaries held by parties other than the parent are presented separately from the parent’s equity on the Consolidated Balance Sheet. The amount of consolidated net income attributable to the parent and the noncontrolling interests are both presented on the face of the Consolidated Statement of Income and Consolidated Statement of Equity. Included within noncontrolling interest is redeemable noncontrolling interest.
Fair Value Measurements	Fair Value Measurements The three levels of the fair value hierarchy of inputs the company uses to measure the fair value of an asset or a liability are as follows. Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or liability. Level 3 inputs are inputs that are not observable in the market.
Derivatives	Derivatives
Inventories	Inventories
Properties, Plant and Equipment	Properties, Plant and Equipment The successful efforts method is used for crude oil and natural gas exploration and production activities. All costs for development wells, related plant and equipment, proved mineral interests in crude oil and natural gas properties, and related asset retirement obligation (ARO) assets are capitalized. Costs of exploratory wells are capitalized pending determination of whether the wells found proved reserves. Costs of wells that are assigned proved reserves remain capitalized. Costs also are capitalized for exploratory wells that have found crude oil and natural gas reserves even if the reserves cannot be classified as proved when the drilling is completed, provided the exploratory well has found a sufficient quantity of reserves to justify its completion as a producing well and the company is making sufficient progress assessing the reserves and the economic and operating viability of the project. All other exploratory wells and costs are expensed. Refer to Note 19 , beginning on page 85, for additional discussion of accounting for suspended exploratory well costs. Long-lived assets to be held and used, including proved crude oil and natural gas properties, are assessed for possible impairment by comparing their carrying values with their associated undiscounted, future net cash flows. Events that can trigger assessments for possible impairments include write-downs of proved reserves based on field performance, significant decreases in the market value of an asset (including changes to the commodity price forecast), significant change in the extent or manner of use of or a physical change in an asset, and a more-likely-than-not expectation that a long-lived asset or asset group will be sold or otherwise disposed of significantly sooner than the end of its previously estimated useful life. Impaired assets are written down to their estimated fair values, generally their discounted, future net cash flows. For proved crude oil and natural gas properties, the company performs impairment reviews on a country, concession, PSC, development area or field basis, as appropriate. In Downstream, impairment reviews are performed on the basis of a refinery, a plant, a marketing/lubricants area or distribution area, as appropriate. Impairment amounts are recorded as incremental “Depreciation, depletion and amortization” expense. Long-lived assets that are held for sale are evaluated for possible impairment by comparing the carrying value of the asset with its fair value less the cost to sell. If the net book value exceeds the fair value less cost to sell, the asset is considered impaired and adjusted to the lower value. Refer to Note 7 , beginning on page 71, relating to fair value measurements. The fair value of a liability for an ARO is recorded as an asset and a liability when there is a legal obligation associated with the retirement of a long-lived asset and the amount can be reasonably estimated. Refer also to Note 23 , on page 94, relating to AROs. Depreciation and depletion of all capitalized costs of proved crude oil and natural gas producing properties, except mineral interests, are expensed using the unit-of-production method, generally by individual field, as the proved developed reserves are produced. Depletion expenses for capitalized costs of proved mineral interests are recognized using the unit-of-production method by individual field as the related proved reserves are produced. Impairments of capitalized costs of unproved mineral interests are expensed. The capitalized costs of all other plant and equipment are depreciated or amortized over their estimated useful lives. In general, the declining-balance method is used to depreciate plant and equipment in the United States; the straight-line method is generally used to depreciate international plant and equipment and to amortize finance lease right-of-use assets. Gains or losses are not recognized for normal retirements of properties, plant and equipment subject to composite group amortization or depreciation. Gains or losses from abnormal retirements are recorded as expenses, and from sales as “Other income.” Expenditures for maintenance (including those for planned major maintenance projects), repairs and minor renewals to maintain facilities in operating condition are generally expensed as incurred. Major replacements and renewals are capitalized.
Leases	Leases Leases are classified as operating or finance leases. Both operating and finance leases recognize lease liabilities and associated right-of-use assets. The company has elected the short-term lease exception and therefore only recognizes right-of-use assets and lease liabilities for leases with a term greater than one year. The company has elected the practical expedient to not separate non-lease components from lease components for most asset classes except for certain asset classes that have significant non-lease (i.e., service) components. Where leases are used in joint ventures, the company recognizes 100 percent of the right-of-use assets and lease liabilities when the company is the sole signatory for the lease (in most cases, where the company is the operator of a joint venture). Lease costs reflect only the costs associated with the operator’s working interest share. The lease term includes the committed lease term identified in the contract, taking into account renewal and termination options that management is
Goodwill	Goodwill Goodwill resulting from a business combination is not subject to amortization. The company tests such goodwill at the reporting unit level for impairment annually at December 31, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount.
Environmental Expenditures	Environmental Expenditures Environmental expenditures that relate to ongoing operations or to conditions caused by past operations are expensed. Expenditures that create future benefits or contribute to future revenue generation are capitalized. Liabilities related to future remediation costs are recorded when environmental assessments or cleanups or both are probable and the costs can be reasonably estimated. For crude oil, natural gas and mineral-producing properties, a liability for an ARO is made in accordance with accounting standards for asset retirement and environmental obligations. Refer to Note 23 , on page 94, for a discussion of the company’s AROs.
Currency Translation	Currency Translation The U.S. dollar is the functional currency for substantially all of the company’s consolidated operations and those of its equity affiliates. For those operations, all gains and losses from currency remeasurement are included in current period income. The cumulative translation effects for those few entities, both consolidated and affiliated, using functional currencies other than the U.S. dollar are included in “Currency translation adjustment” on the Consolidated Statement of Equity.
Revenue Recognition	Revenue Recognition The company accounts for each delivery order of crude oil, natural gas, petroleum and chemical products as a separate performance obligation. Revenue is recognized when the performance obligation is satisfied, which typically occurs at the point in time when control of the product transfers to the customer. Payment is generally due within 30 days of delivery. The company accounts for delivery transportation as a fulfillment cost, not a separate performance obligation, and recognizes these costs as an operating expense in the period when revenue for the related commodity is recognized. Revenue is measured as the amount the company expects to receive in exchange for transferring commodities to the customer. The company’s commodity sales are typically based on prevailing market-based prices and may include discounts and allowances. Until market prices become known under terms of the company’s contracts, the transaction price included in revenue is based on the company’s estimate of the most likely outcome. Discounts and allowances are estimated using a combination of historical and recent data trends. When deliveries contain multiple products, an observable standalone selling price is generally used to measure revenue for each product. The company includes estimates in the transaction price only to the extent that a significant reversal of revenue is not probable in subsequent periods. Revenue from contracts with customers is presented in “Sales and other operating revenue” along with some activity that is accounted for outside the scope of Accounting Standard Codification (ASC) 606, which is not material to this line, on the Consolidated Statement of Income. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another (including buy/sell arrangements) are combined and recorded on a net basis and reported in “Purchased crude oil and products” on the Consolidated Statement of Income. Refer to Note 12 beginning on page 74 for additional information on the company’s segmentation of revenue. Receivables related to revenue from contracts with customers are included in “Accounts and notes receivable, net” on the Consolidated Balance Sheet, net of the allowance for doubtful accounts. The net balance of these receivables was $7,631 and $9,247 at December 31, 2020 and December 31, 2019, respectively. Other items included in “Accounts and notes receivable, net” represent amounts due from partners for their share of joint venture operating and project costs and amounts due from others, primarily related to derivatives, leases, buy/sell arrangements and product exchanges, which are accounted for outside the scope of ASC 606 . Contract assets and related costs are reflected in “Prepaid expenses and other current assets” and contract liabilities are reflected in “Accrued liabilities” and “Deferred credits and other noncurrent obligations” on the Consolidated Balance Sheet. Amounts for these items are not material to the company’s financial position.
Stock Options and Other Share-Based Compensation	Stock Options and Other Share-Based Compensation The company issues stock options and other share-based compensation to certain employees. For equity awards, such as stock options, total compensation cost is based on the grant date fair value, and for liability awards, such as stock appreciation rights, total compensation cost is based on the settlement value. The company recognizes stock-based compensation expense for all awards over the service period required to earn the award, which is the shorter of the vesting period or the time period in which an employee becomes eligible to retain the award at retirement. The company’s Long-Term Incentive Plan (LTIP) awards include stock options and stock appreciation rights, which have graded vesting provisions by which one-third of each award vests on each of the first, second and third anniversaries of the date of grant. In addition, performance shares granted under the company’s LTIP will vest at the end of the three
New Accounting Standards	Financial Instruments - Credit Losses (Topic 326) Effective January 1, 2020, Chevron adopted Accounting Standards Update (ASU) 2016-13 and its related amendments. For additional information on the company’s expected credit losses, refer to Note 28 on page 96.
Segment Reporting	Although each subsidiary of Chevron is responsible for its own affairs, Chevron Corporation manages its investments in these subsidiaries and their affiliates. The investments are grouped into two business segments, Upstream and Downstream, representing the company’s “reportable segments” and “operating segments.” Upstream operations consist primarily of exploring for, developing, producing and transporting crude oil and natural gas; liquefaction, transportation and regasification associated with liquefied natural gas (LNG); transporting crude oil by major international oil export pipelines; processing, transporting, storage and marketing of natural gas; and a gas-to-liquids plant. Downstream operations consist primarily of refining of crude oil into petroleum products; marketing of crude oil, refined products and lubricants; transporting of crude oil and refined products by pipeline, marine vessel, motor equipment and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. All Other activities of the company include worldwide cash management and debt financing activities, corporate administrative functions, insurance operations, real estate activities, and technology activities. The company’s segments are managed by “segment managers” who report to the “chief operating decision maker” (CODM). The segments represent components of the company that engage in activities (a) from which revenues are earned and expenses are incurred; (b) whose operating results are regularly reviewed by the CODM, which makes decisions about resources to be allocated to the segments and assesses their performance; and (c) for which discrete financial information is available. The company’s primary country of operation is the United States of America, its country of domicile. Other components of the company’s operations are reported as “International” (outside the United States). Segment Earnings
Uncertain Income Tax Positions	Uncertain Income Tax Positions The company recognizes a tax benefit in the financial statements for an uncertain tax position only if management’s assessment is that the position is “more likely than not” (i.e., a likelihood greater than 50 percent) to be allowed by the tax jurisdiction based solely on the technical merits of the position. The term “tax position” in the accounting standards for income taxes refers to a position in a previously filed tax return or a position expected to be taken in a future tax return that is reflected in measuring current or deferred income tax assets and liabilities for interim or annual periods.
Accounting for Suspended Exploratory Wells	Accounting for Suspended Exploratory Wells The company continues to capitalize exploratory well costs after the completion of drilling when the well has found a sufficient quantity of reserves to justify completion as a producing well, and the business unit is making sufficient progress assessing the reserves and the economic and operating viability of the project. If either condition is not met or if the company obtains information that raises substantial doubt about the economic or operational viability of the project, the exploratory well would be assumed to be impaired, and its costs, net of any salvage value, would be charged to expense.

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Losses (Tables)	12 Months Ended
Changes in Accumulated Other Comprehensive Losses (Tables)	Dec. 31, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The change in Accumulated Other Comprehensive Losses (AOCL) presented on the Consolidated Balance Sheet and the impact of significant amounts reclassified from AOCL on information presented in the Consolidated Statement of Income for the year ended December 31, 2020, are reflected in the table below. Currency Translation Adjustments Unrealized Holding Gains (Losses) on Securities Derivatives Defined Benefit Plans Total Balance at December 31, 2017 $ (105) $ (5) $ (2) $ (3,477) $ (3,589) Components of Other Comprehensive Income (Loss) 1 : Before Reclassifications (19) (5) — 28 4 Reclassifications 2 — — — 603 603 Net Other Comprehensive Income (Loss) (19) (5) — 631 607 Stranded Tax Reclassification to Retained Earnings 3 — — — (562) (562) Balance at December 31, 2018 $ (124) $ (10) $ (2) $ (3,408) $ (3,544) Components of Other Comprehensive Income (Loss) 1 : Before Reclassifications (18) 2 (1) (1,838) (1,855) Reclassifications 2 — — 3 406 409 Net Other Comprehensive Income (Loss) (18) 2 2 (1,432) (1,446) Balance at December 31, 2019 $ (142) $ (8) $ — $ (4,840) $ (4,990) Components of Other Comprehensive Income (Loss) 1 : Before Reclassifications 35 (2) — (1,487) (1,454) Reclassifications 2 — — — 832 832 Net Other Comprehensive Income (Loss) 35 (2) — (655) (622) Balance at December 31, 2020 $ (107) $ (10) $ — $ (5,495) $ (5,612) 1 All amounts are net of tax. 2 Refer to Note 21 beginning on page 87, for reclassified components totaling $1,084 that are included in employee benefit costs for the year ended December 31, 2020. Related income taxes for the same period, totaling $252, are reflected in Income Tax Expense on the Consolidated Statement of Income. All other reclassified amounts were insignificant.

Information Relating to the C_2

Information Relating to the Consolidated Statement of Cash Flows (Tables)	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of information relating to the consolidated statement of cash flows	Year ended December 31 2020 2019 2018 Distributions more (less) than income from equity affiliates includes the following: Distributions from equity affiliates $ 1,543 $ 1,895 $ 2,747 (Income) loss from equity affiliates 472 (3,968) (6,327) Distributions more (less) than income from equity affiliates $ 2,015 $ (2,073) $ (3,580) Net decrease (increase) in operating working capital was composed of the following: Decrease (increase) in accounts and notes receivable $ 2,423 $ 1,852 $ 437 Decrease (increase) in inventories 284 7 (424) Decrease (increase) in prepaid expenses and other current assets (87) (323) (149) Increase (decrease) in accounts payable and accrued liabilities (3,576) (109) (494) Increase (decrease) in income and other taxes payable (696) 67 (88) Net decrease (increase) in operating working capital $ (1,652) $ 1,494 $ (718) Net cash provided by operating activities includes the following cash payments: Interest on debt (net of capitalized interest) $ 720 $ 810 $ 736 Income taxes 2,987 4,817 4,748 Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts: Proceeds and deposits related to asset sales $ 2,891 $ 2,809 $ 2,000 Returns of investment from equity affiliates 77 142 392 Proceeds and deposits related to asset sales and returns of investment $ 2,968 $ 2,951 $ 2,392 Net maturities (investments) of time deposits consisted of the following gross amounts: Investments in time deposits $ — $ — $ (950) Maturities of time deposits — 950 — Net maturities of (investments in) time deposits $ — $ 950 $ (950) Net sales (purchases) of marketable securities consisted of the following gross amounts: Marketable securities purchased $ — $ (1) $ (51) Marketable securities sold 35 3 — Net sales (purchases) of marketable securities $ 35 $ 2 $ (51) Net repayment (borrowing) of loans by equity affiliates: Borrowing of loans by equity affiliates $ (3,925) $ (1,350) $ — Repayment of loans by equity affiliates 2,506 105 111 Net repayment (borrowing) of loans by equity affiliates $ (1,419) $ (1,245) $ 111 Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts: Proceeds from issuances of short-term obligations $ 10,846 $ 2,586 $ 2,486 Repayments of short-term obligations (9,771) (1,430) (4,136) Net borrowings (repayments) of short-term obligations with three months or less maturity (424) (3,977) 3,671 Net borrowings (repayments) of short-term obligations $ 651 $ (2,821) $ 2,021 Net sales (purchases) of treasury shares consists of the following gross and net amounts: Shares issued for share-based compensation plans $ 226 $ 1,104 $ 1,147 Shares purchased under share repurchase and deferred compensation plans (1,757) (4,039) (1,751) Net sales (purchases) of treasury shares $ (1,531) $ (2,935) $ (604) The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet: Year ended December 31 2020 2019 2018 Cash and cash equivalents $ 5,596 $ 5,686 $ 9,342 Restricted cash included in “Prepaid expenses and other current assets” 365 452 341 Restricted cash included in “Deferred charges and other assets” 776 773 798 Total cash, cash equivalents and restricted cash $ 6,737 $ 6,911 $ 10,481
Capital expenditures	The major components of “Capital expenditures” and the reconciliation of this amount to the reported capital and exploratory expenditures, including equity affiliates, are presented in the following table. Year ended December 31 2020 2019 2018 Additions to properties, plant and equipment * $ 8,492 $ 13,839 $ 13,384 Additions to investments 136 140 65 Current-year dry hole expenditures 327 124 344 Payments for other assets and liabilities, net (33) 13 (1) Capital expenditures 8,922 14,116 13,792 Expensed exploration expenditures 500 598 523 Assets acquired through finance leases and other obligations 53 181 75 Payments for other assets and liabilities, net 42 (13) — Capital and exploratory expenditures, excluding equity affiliates 9,517 14,882 14,390 Company’s share of expenditures by equity affiliates 3,982 6,112 5,716 Capital and exploratory expenditures, including equity affiliates $ 13,499 $ 20,994 $ 20,106 * Excludes non-cash movements of $816 in 2020, $(239) in 2019 and $25 in 2018.

Lease Commitments (Tables)

Lease Commitments (Tables)	12 Months Ended
Lease Commitments (Tables)	Dec. 31, 2020
Leases [Abstract]
Assets And Liabilities, Lessee	Details of the right-of-use assets and lease liabilities for operating and finance leases, including the balance sheet presentation, are as follows: At December 31, 2020 At December 31, 2019 Operating Finance Operating Finance Deferred charges and other assets $ 3,949 $ — $ 4,074 $ — Properties, plant and equipment, net — 455 — 329 Right-of-use assets 1 $ 3,949 $ 455 $ 4,074 $ 329 Accrued Liabilities $ 1,291 $ — $ 1,277 $ — Short-term Debt — 186 — 18 Current lease liabilities 1,291 186 1,277 18 Deferred credits and other noncurrent obligations 2,615 — 2,608 — Long-term Debt — 447 — 282 Noncurrent lease liabilities 2,615 447 2,608 282 Total lease liabilities $ 3,906 $ 633 $ 3,885 $ 300 Weighted-average remaining lease term (in years) 7.2 10.4 5.2 16.0 Weighted-average discount rate 2.8 % 3.9 % 3.2 % 4.7 %
Lease, Cost	Total lease costs consist of both amounts recognized in the Consolidated Statement of Income during the period and amounts capitalized as part of the cost of another asset. Total lease costs incurred for operating and finance leases were as follows: Year-ended December 31 2020 2019 Operating lease costs 1, 2 $ 2,551 $ 2,621 Finance lease costs 45 66 Total lease costs $ 2,596 $ 2,687 1 Net rental expense of $816 for 2018. 2 Includes variable and short-term lease costs. Cash paid for amounts included in the measurement of lease liabilities was as follows: Year-ended December 31 2020 2019 Operating cash flows from operating leases $ 1,744 $ 1,574 Investing cash flows from operating leases 762 1,047 Operating cash flows from finance leases 14 13 Financing cash flows from finance leases 34 24
Lessee, Operating Lease, Liability, Maturity	At December 31, 2020, the estimated future undiscounted cash flows for operating and finance leases were as follows: At December 31, 2020 Operating Leases Finance Year 2021 $ 1,376 $ 204 2022 779 60 2023 497 58 2024 338 56 2025 255 53 Thereafter 1,112 331 Total $ 4,357 $ 762 Less: Amounts representing interest 451 129 Total lease liabilities $ 3,906 $ 633
Finance Lease, Liability, Maturity	At December 31, 2020, the estimated future undiscounted cash flows for operating and finance leases were as follows: At December 31, 2020 Operating Leases Finance Year 2021 $ 1,376 $ 204 2022 779 60 2023 497 58 2024 338 56 2025 255 53 Thereafter 1,112 331 Total $ 4,357 $ 762 Less: Amounts representing interest 451 129 Total lease liabilities $ 3,906 $ 633

Summarized Financial Data - C_2

Summarized Financial Data - Chevron U.S.A. Inc. (Tables)	12 Months Ended
Summarized Financial Data - Chevron U.S.A. Inc. (Tables)	Dec. 31, 2020
Summarized Financial Data of Subsidiary One [Abstract]
Summarized Financial Data - Chevron U.S.A. Inc.	The summarized financial information for CUSA and its consolidated subsidiaries is as follows: Year ended December 31 2020 2019 2018 Sales and other operating revenues $ 67,950 $ 109,314 $ 125,076 Total costs and other deductions 72,575 116,365 121,351 Net income (loss) attributable to CUSA (2,676) (5,061) 4,334 Year ended December 31 2020 2019 2018 Sales and other operating revenues $ 8,407 $ 9,333 $ 11,310 Costs and other deductions 7,221 7,863 9,812 Net income attributable to CPChem 1,260 1,760 2,069
Summarized Financial Data and its Subsidiary	At December 31 2020 2019 Current assets $ 10,555 $ 13,059 Other assets 48,054 50,796 Current liabilities 12,403 18,291 Other liabilities 14,102 12,565 Total CUSA net equity $ 32,104 $ 32,999 Memo: Total debt $ 7,133 $ 3,222 At December 31 2020 2019 Current assets $ 2,816 $ 2,554 Other assets 14,210 14,314 Current liabilities 1,394 1,247 Other liabilities 3,380 3,174 Total CPChem net equity $ 12,252 $ 12,447

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
Fair Value Measurements (Tables)	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and Liabilities Measured at Fair Value on a Recurring Basis At December 31, 2020 At December 31, 2019 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Marketable securities $ 31 $ 31 $ — $ — $ 63 $ 63 $ — $ — Derivatives 74 37 37 — 11 1 10 — Total assets at fair value $ 105 $ 68 $ 37 $ — $ 74 $ 64 $ 10 $ — Derivatives 173 58 115 — 74 26 48 — Total liabilities at fair value $ 173 $ 58 $ 115 $ — $ 74 $ 26 $ 48 $ —
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis	Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis At December 31 At December 31 Before-Tax Loss Before-Tax Loss Total Level 1 Level 2 Level 3 Year 2020 Total Level 1 Level 2 Level 3 Year 2019 Properties, plant and equipment, net (held and used) $ 2,443 $ — $ 20 $ 2,423 $ 2,599 $ 2,177 $ — $ — $ 2,177 $ 2,095 Properties, plant and equipment, net (held for sale) 1,418 — 1,418 — 193 1,412 — 1,412 — 8,702 Investments and advances 28 — — 28 2,555 52 — 30 22 594 Total nonrecurring assets at fair value $ 3,889 $ — $ 1,438 $ 2,451 $ 5,347 $ 3,641 $ — $ 1,442 $ 2,199 $ 11,391

Financial and Derivative Inst_2

Financial and Derivative Instruments (Tables)	12 Months Ended
Financial and Derivative Instruments (Tables)	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments	Consolidated Balance Sheet: Fair Value of Derivatives Not Designated as Hedging Instruments At December 31 Type of Contract Balance Sheet Classification 2020 2019 Commodity Accounts and notes receivable, net $ 73 $ 11 Commodity Long-term receivables, net 1 — Total assets at fair value $ 74 $ 11 Commodity Accounts payable $ 172 $ 74 Commodity Deferred credits and other noncurrent obligations 1 — Total liabilities at fair value $ 173 $ 74
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments	Consolidated Statement of Income: The Effect of Derivatives Not Designated as Hedging Instruments Gain/(Loss) Type of Derivative Statement of Year ended December 31 Contract Income Classification 2020 2019 2018 Commodity Sales and other operating revenues $ 69 $ (291) $ 135 Commodity Purchased crude oil and products (36) (17) (33) Commodity Other income 7 (2) 3 $ 40 $ (310) $ 105
Consolidated Balance Sheet: The Effect of Netting Derivative Assets	The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at December 31, 2020 and December 31, 2019. Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amounts At December 31, 2020 Derivative Assets $ 818 $ 744 $ 74 $ — $ 74 Derivative Liabilities $ 917 $ 744 $ 173 $ — $ 173 At December 31, 2019 Derivative Assets $ 656 $ 645 $ 11 $ — $ 11 Derivative Liabilities $ 719 $ 645 $ 74 $ — $ 74
Consolidated Balance Sheet: The Effect of Netting Derivative Liabilities	The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at December 31, 2020 and December 31, 2019. Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amounts At December 31, 2020 Derivative Assets $ 818 $ 744 $ 74 $ — $ 74 Derivative Liabilities $ 917 $ 744 $ 173 $ — $ 173 At December 31, 2019 Derivative Assets $ 656 $ 645 $ 11 $ — $ 11 Derivative Liabilities $ 719 $ 645 $ 74 $ — $ 74

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
Earnings Per Share (Tables)	Dec. 31, 2020
Earnings Per Share [Abstract]
Computation of basic and diluted EPS	The table below sets forth the computation of basic and diluted EPS: Year ended December 31 2020 2019 2018 Basic EPS Calculation Earnings available to common stockholders - Basic 1 $ (5,543) $ 2,924 $ 14,824 Weighted-average number of common shares outstanding 2 1,870 1,882 1,897 Add: Deferred awards held as stock units — — 1 Total weighted-average number of common shares outstanding 1,870 1,882 1,898 Earnings per share of common stock - Basic $ (2.96) $ 1.55 $ 7.81 Diluted EPS Calculation Earnings available to common stockholders - Diluted 1 $ (5,543) $ 2,924 $ 14,824 Weighted-average number of common shares outstanding 2 1,870 1,882 1,897 Add: Deferred awards held as stock units — — 1 Add: Dilutive effect of employee stock-based awards — 13 16 Total weighted-average number of common shares outstanding 1,870 1,895 1,914 Earnings per share of common stock - Diluted $ (2.96) $ 1.54 $ 7.74 1 There was no effect of dividend equivalents paid on stock units or dilutive impact of employee stock-based awards on earnings. 2 Millions of shares; 1 million shares of employee-based awards were not included in the 2020 diluted EPS calculation as the result would be anti-dilutive.

Operating Segments and Geogra_2

Operating Segments and Geographic Data (Tables)	12 Months Ended
Operating Segments and Geographic Data (Tables)	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Earnings	Earnings by major operating area are presented in the following table: Year ended December 31 2020 2019 2018 Upstream United States $ (1,608) $ (5,094) $ 3,278 International (825) 7,670 10,038 Total Upstream (2,433) 2,576 13,316 Downstream United States (571) 1,559 2,103 International 618 922 1,695 Total Downstream 47 2,481 3,798 Total Segment Earnings (2,386) 5,057 17,114 All Other Interest expense (658) (761) (713) Interest income 52 181 137 Other (2,551) (1,553) (1,714) Net Income (Loss) Attributable to Chevron Corporation $ (5,543) $ 2,924 $ 14,824
Segment Assets	Assets at year-end 2020 and 2019 are as follows: At December 31 2020 2019 Upstream United States $ 42,431 $ 35,926 International 144,476 145,648 Goodwill 4,402 4,463 Total Upstream 191,309 186,037 Downstream United States 23,490 25,197 International 16,096 16,955 Total Downstream 39,586 42,152 Total Segment Assets 230,895 228,189 All Other United States 4,017 3,475 International 4,878 5,764 Total All Other 8,895 9,239 Total Assets – United States 69,938 64,598 Total Assets – International 165,450 168,367 Goodwill 4,402 4,463 Total Assets $ 239,790 $ 237,428
Segment Sales and Other Operating Revenues	Revenues for the upstream segment are derived primarily from the production and sale of crude oil and natural gas, as well as the sale of third-party production of natural gas. Revenues for the downstream segment are derived from the refining and marketing of petroleum products such as gasoline, jet fuel, gas oils, lubricants, residual fuel oils and other products derived from crude oil. This segment also generates revenues from the manufacture and sale of fuel and lubricant additives and the transportation and trading of refined products and crude oil. “All Other” activities include revenues from insurance operations, real estate activities and technology companies. Year ended December 31 1 2020 2019 2018 Upstream United States $ 14,577 $ 23,358 $ 22,891 International 26,804 35,628 37,822 Subtotal 41,381 58,986 60,713 Intersegment Elimination — United States (8,068) (14,944) (13,965) Intersegment Elimination — International (7,002) (12,335) (13,679) Total Upstream 26,311 31,707 33,069 Downstream United States 32,589 55,271 59,376 International 38,936 57,654 70,095 Subtotal 71,525 112,925 129,471 Intersegment Elimination — United States (2,150) (3,924) (2,742) Intersegment Elimination — International (1,292) (1,089) (1,132) Total Downstream 68,083 107,912 125,597 All Other United States 744 1,064 1,022 International 15 20 22 Subtotal 759 1,084 1,044 Intersegment Elimination — United States (667) (818) (786) Intersegment Elimination — International (15) (20) (22) Total All Other 77 246 236 Sales and Other Operating Revenues United States 47,910 79,693 83,289 International 65,755 93,302 107,939 Subtotal 113,665 172,995 191,228 Intersegment Elimination — United States (10,885) (19,686) (17,493) Intersegment Elimination — International (8,309) (13,444) (14,833) Total Sales and Other Operating Revenues $ 94,471 $ 139,865 $ 158,902 1 Other than the United States, no other country accounted for 10 percent or more of the company’s Sales and Other Operating Revenues.
Segment income tax expense	Segment income tax expense for the years 2020, 2019 and 2018 is as follows: Year ended December 31 2020 2019 2018 Upstream United States $ (570) $ (1,550) $ 811 International (415) 3,492 4,687 Total Upstream (985) 1,942 5,498 Downstream United States (192) 392 534 International 253 170 328 Total Downstream 61 562 862 All Other (968) 187 (645) Total Income Tax Expense (Benefit) $ (1,892) $ 2,691 $ 5,715

Investments and Advances (Table

Investments and Advances (Tables)	12 Months Ended
Investments and Advances (Tables)	Dec. 31, 2020
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Equity in earnings, together with investments in and advances to companies accounted for using the equity method and other investments accounted for at or below cost	Equity in earnings, together with investments in and advances to companies accounted for using the equity method and other investments accounted for at or below cost, is shown in the following table. For certain equity affiliates, Chevron pays its share of some income taxes directly. For such affiliates, the equity in earnings does not include these taxes, which are reported on the Consolidated Statement of Income as “Income tax expense.” Investments and Advances Equity in Earnings At December 31 Year ended December 31 2020 2019 2020 2019 2018 Upstream Tengizchevroil $ 22,685 $ 20,214 $ 1,238 $ 3,067 $ 3,614 Petropiar — 1,396 (1,396) 80 317 Petroboscan — 1,139 (1,112) (11) 357 Caspian Pipeline Consortium 835 883 159 155 170 Angola LNG Limited 2,258 2,423 (166) (26) 172 Noble Midstream equity affiliates 895 — (9) — — Other 980 881 146 (478) 19 Total Upstream 27,653 26,936 (1,140) 2,787 4,649 Downstream Chevron Phillips Chemical Company LLC 6,181 6,241 630 880 1,034 GS Caltex Corporation 3,547 3,796 (185) 13 373 Other 1,389 1,443 223 288 273 Total Downstream 11,117 11,480 668 1,181 1,680 All Other Other (14) (14) — — (2) Total equity method $ 38,756 $ 38,402 $ (472) $ 3,968 $ 6,327 Other non-equity method investments 296 286 Total investments and advances $ 39,052 $ 38,688 Total United States $ 7,978 $ 7,203 $ 709 $ 641 $ 1,033 Total International $ 31,074 $ 31,485 $ (1,181) $ 3,327 $ 5,294
Summarized financial information on a 100 percent basis for all equity affiliates as well as Chevron's total share, which includes Chevron loans to affiliates	The following table provides summarized financial information on a 100 percent basis for all equity affiliates as well as Chevron’s total share, which includes Chevron’s net loans to affiliates of $5,153, $4,331 and $3,402 at December 31, 2020, 2019 and 2018, respectively. Affiliates Chevron Share Year ended December 31 2020 2019 2018 2020 2019 2018 Total revenues $ 49,093 $ 66,473 $ 84,469 $ 21,641 $ 32,628 $ 40,679 Income before income tax expense 5,682 13,197 16,693 2,550 5,954 6,755 Net income attributable to affiliates 4,704 9,809 13,321 2,034 4,366 6,384 At December 31 Current assets $ 17,087 $ 30,791 $ 32,657 $ 7,328 $ 12,998 $ 12,813 Noncurrent assets 97,468 97,177 87,614 43,247 41,531 36,369 Current liabilities 12,164 26,032 26,006 5,052 10,610 9,843 Noncurrent liabilities 25,586 21,593 20,000 5,884 5,068 4,446 Total affiliates’ net equity $ 76,805 $ 80,343 $ 74,265 $ 39,639 $ 38,851 $ 34,893

Taxes (Tables)

Taxes (Tables)	12 Months Ended
Taxes (Tables)	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Taxes on income	Income Taxes Year ended December 31 2020 2019 2018 Income tax expense (benefit) U.S. federal Current $ (182) $ (73) $ (181) Deferred (1,315) (1,074) 738 State and local Current 65 153 183 Deferred (152) (172) (16) Total United States (1,584) (1,166) 724 International Current 1,833 4,577 4,662 Deferred (2,141) (720) 329 Total International (308) 3,857 4,991 Total income tax expense (benefit) $ (1,892) $ 2,691 $ 5,715
Reconciliation between the U.S. statutory federal income tax rate and the company's effective income tax rate	The reconciliation between the U.S. statutory federal income tax rate and the company’s effective income tax rate is detailed in the following table: 2020 2019 2018 Income (loss) before income taxes United States $ (5,700) $ (5,483) $ 4,730 International (1,753) 11,019 15,845 Total income (loss) before income taxes (7,453) 5,536 20,575 Theoretical tax (at U.S. statutory rate of 21% ) (1,565) 1,163 4,321 Effect of U.S. tax reform — 3 (26) Equity affiliate accounting effect 211 (687) (1,526) Effect of income taxes from international operations * (39) 2,196 3,132 State and local taxes on income, net of U.S. federal income tax benefit (65) (18) 162 Prior year tax adjustments, claims and settlements (236) 192 (51) Tax credits (33) (18) (163) Other U.S. * (165) (140) (134) Total income tax expense (benefit) $ (1,892) $ 2,691 $ 5,715 Effective income tax rate 25.4 % 48.6 % 27.8 % * Includes one-time tax costs (benefits) associated with changes in uncertain tax positions and valuation allowances.
Composition of deferred tax balances	The reported deferred tax balances are composed of the following: At December 31 2020 2019 Deferred tax liabilities Properties, plant and equipment $ 16,603 $ 17,251 Investments and other 5,617 5,372 Total deferred tax liabilities 22,220 22,623 Deferred tax assets Foreign tax credits (10,585) (9,840) Asset retirement obligations/environmental reserves (4,721) (4,329) Employee benefits (3,856) (3,454) Deferred credits (1,056) (1,083) Tax loss carryforwards (6,701) (5,262) Other accrued liabilities (228) (441) Inventory (633) (662) Operating leases (1,234) (1,211) Miscellaneous (3,685) (2,796) Total deferred tax assets (32,699) (29,078) Deferred tax assets valuation allowance 17,762 15,965 Total deferred taxes, net $ 7,283 $ 9,510
Classification of deferred taxes	At December 31, 2020 and 2019, deferred taxes were classified on the Consolidated Balance Sheet as follows: At December 31 2020 2019 Deferred charges and other assets $ (5,286) $ (4,178) Noncurrent deferred income taxes 12,569 13,688 Total deferred income taxes, net $ 7,283 $ 9,510
Changes to the Company's unrecognized tax benefits	The following table indicates the changes to the company’s unrecognized tax benefits for the years ended December 31, 2020, 2019 and 2018. The term “unrecognized tax benefits” in the accounting standards for income taxes refers to the differences between a tax position taken or expected to be taken in a tax return and the benefit measured and recognized in the financial statements. Interest and penalties are not included. 2020 2019 2018 Balance at January 1 $ 4,987 $ 5,070 $ 4,828 Foreign currency effects 2 1 (6) Additions based on tax positions taken in current year 253 94 239 Additions for tax positions taken in prior years 437 313 153 Reductions for tax positions taken in prior years (216) (194) (131) Settlements with taxing authorities in current year (429) (78) (13) Reductions as a result of a lapse of the applicable statute of limitations (16) (219) — Balance at December 31 $ 5,018 $ 4,987 $ 5,070
Taxes other than on income	Taxes Other Than on Income Year ended December 31 2020 2019 2018 United States Excise and similar taxes on products and merchandise $ 4,566 $ 4,990 $ 4,830 Consumer excise taxes collected on behalf of third parties (4,566) (4,990) (4,830) Import duties and other levies 7 2 15 Property and other miscellaneous taxes 2,248 1,785 1,577 Payroll taxes 235 254 246 Taxes on production 317 355 325 Total United States 2,807 2,396 2,163 International Excise and similar taxes on products and merchandise 2,367 2,801 3,031 Consumer excise taxes collected on behalf of third parties (2,367) (2,801) (3,031) Import duties and other levies 39 35 37 Property and other miscellaneous taxes 1,461 1,435 2,370 Payroll taxes 117 125 132 Taxes on production 75 145 165 Total International 1,692 1,740 2,704 Total taxes other than on income $ 4,499 $ 4,136 $ 4,867

Properties, Plant and Equipme_2

Properties, Plant and Equipment (Tables)	12 Months Ended
Properties, Plant and Equipment (Tables)	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Properties, Plant and Equipment	At December 31 Year ended December 31 Gross Investment at Cost Net Investment Additions at Cost 2 Depreciation Expense 3 2020 2019 2018 2020 2019 2018 2020 2019 2018 2020 2019 2018 Upstream United States $ 96,555 $ 82,117 $ 88,155 $ 38,175 $ 31,082 $ 39,526 $ 13,067 $ 7,751 $ 6,434 $ 6,841 $ 15,222 $ 5,328 International 209,846 206,292 215,329 102,010 102,639 113,603 11,069 3,664 4,865 11,121 12,618 12,726 Total Upstream 306,401 288,409 303,484 140,185 133,721 153,129 24,136 11,415 11,299 17,962 27,840 18,054 Downstream United States 26,499 25,968 24,685 11,101 11,398 10,838 638 1,452 1,259 851 869 751 International 7,993 7,480 7,237 3,395 3,114 3,023 573 355 278 283 256 282 Total Downstream 34,492 33,448 31,922 14,496 14,512 13,861 1,211 1,807 1,537 1,134 1,125 1,033 All Other United States 4,195 4,719 4,667 1,916 2,236 2,186 194 324 224 403 243 320 International 144 146 171 21 25 31 5 9 6 9 10 12 Total All Other 4,339 4,865 4,838 1,937 2,261 2,217 199 333 230 412 253 332 Total United States 127,249 112,804 117,507 51,192 44,716 52,550 13,899 9,527 7,917 8,095 16,334 6,399 Total International 217,983 213,918 222,737 105,426 105,778 116,657 11,647 4,028 5,149 11,413 12,884 13,020 Total $ 345,232 $ 326,722 $ 340,244 $ 156,618 $ 150,494 $ 169,207 $ 25,546 $ 13,555 $ 13,066 $ 19,508 $ 29,218 $ 19,419 1 Other than the United States and Australia, no other country accounted for 10 percent or more of the company’s net properties, plant and equipment (PP&E) in 2020. Australia had PP&E of $48,060, $51,359 and $53,768 in 2020, 2019 and 2018, respectively. Gross Investment at Cost, Net Investment and Additions at Cost for 2020 each include $16,703 associated with the Noble acquisition. 2 Net of dry hole expense related to prior years’ expenditures of $709, $49 and $343 in 2020, 2019 and 2018, respectively. 3 Depreciation expense includes accretion expense of $560, $628 and $654 in 2020, 2019 and 2018, respectively, and impairments of $2,792, $10,797 and $735 in 2020, 2019 and 2018, respectively.

Short-Term Debt (Tables)

Short-Term Debt (Tables)	12 Months Ended
Short-Term Debt (Tables)	Dec. 31, 2020
Debt Disclosure [Abstract]
Short-Term Debt	At December 31 2020 2019 Commercial paper 1 $ 5,612 $ 4,654 Notes payable to banks and others with originating terms of one year or less 15 228 Current maturities of long-term debt 2,600 5,054 Current maturities of long-term finance leases 186 18 Redeemable long-term obligations Long-term debt 2,960 3,078 Subtotal 11,373 13,032 Reclassified to long-term debt (9,825) (9,750) Total short-term debt $ 1,548 $ 3,282 1 Weighted-average interest rates at December 31, 2020 and 2019, were 0.15% and 1.69%, respectively.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
Long-Term Debt (Tables)	Dec. 31, 2020
Debt Disclosure [Abstract]
Long-term debt outstanding	The company’s long-term debt outstanding at year-end 2020 and 2019 was as follows: At December 31 2020 2019 Weighted Average Interest Rate (%) 1 Range of Interest Rates (%) 2 Principal Principal Notes due 2021 2.100 $ 1,350 $ 1,350 Floating rate notes due 2021 0.913 0.751 - 1.171 650 650 Debentures due 2021 8.875 40 40 Notes due 2022 2.179 0.333 - 2.498 3,800 3,400 Floating rate notes due 2022 0.594 0.324 - 0.762 1,000 650 Notes due 2023 2.377 0.426 - 7.250 4,800 3,000 Floating rate notes due 2023 0.676 0.414 - 1.114 800 — Notes due 2024 3.291 2.895 - 3.900 1,650 1,000 Notes due 2025 1.724 0.687 - 3.326 4,000 750 Notes due 2026 2.954 2,250 2,250 Notes due 2027 2.379 1.018 - 8.000 2,000 — Notes due 2028 3.850 600 — Notes due 2029 3.250 500 — Notes due 2030 2.236 1,500 — Debentures due 2031 8.625 108 108 Debentures due 2032 8.414 8.000 - 8.625 222 222 Notes due 2040 2.978 500 — Notes due 2041 6.000 850 — Notes due 2043 5.250 1,000 — Notes due 2044 5.050 850 — Notes due 2047 4.950 500 — Notes due 2049 4.200 500 — Notes due 2050 2.763 2.343 - 3.078 1,750 — Debentures due 2097 7.250 84 — Bank loans due 2021 - 2023 1.530 1.240 - 2.004 1,948 — 3.400% loan 3 3.400 218 218 Medium-term notes, maturing from 2021 to 2038 6.131 0.000 - 8.875 37 38 Notes due 2020 — 5,054 Total including debt due within one year 33,507 18,730 Debt due within one year (2,600) (5,054) Fair market valuation adjustment of Noble long-term debt 1,690 — Reclassified from short-term debt 9,825 9,750 Unamortized discounts and debt issuance costs (102) (17) Finance lease liabilities 4 447 282 Total long-term debt $ 42,767 $ 23,691 1 Weighted-average interest rate at December 31, 2020 2 Range of interest rates at December 31, 2020. 3 Maturity date is conditional upon the occurrence of certain events. 2022 is the earliest period in which the loan may become payable 4 For details on finance lease liabilities, see Note 5 beginning on page 69

Accounting for Suspended Expl_2

Accounting for Suspended Exploratory Wells (Tables)	12 Months Ended
Accounting for Suspended Exploratory Wells (Tables)	Dec. 31, 2020
Accounting for Suspended Exploratory Wells [Abstract]
Changes in company's suspended exploratory well costs	The following table indicates the changes to the company’s suspended exploratory well costs for the three years ended December 31, 2020: 2020 2019 2018 Beginning balance at January 1 $ 3,041 $ 3,563 $ 3,702 Additions to capitalized exploratory well costs pending the determination of proved reserves 28 244 207 Reclassifications to wells, facilities and equipment based on the determination of proved reserves (102) (500) (13) Capitalized exploratory well costs charged to expense (667) (125) (333) Other * 212 (141) — Ending balance at December 31 $ 2,512 $ 3,041 $ 3,563 * 2020 represents fair value of well costs acquired in the Noble acquisition. 2019 represents property sales.
Aging of capitalized well costs and number of project	The following table provides an aging of capitalized well costs and the number of projects for which exploratory well costs have been capitalized for a period greater than one year since the completion of drilling. The aging of the former Noble wells is based on the date the drilling was completed, rather than Chevron’s October 2020 acquisition of Noble. At December 31 2020 2019 2018 Exploratory well costs capitalized for a period of one year or less $ 26 $ 214 $ 202 Exploratory well costs capitalized for a period greater than one year 2,486 2,827 3,361 Balance at December 31 $ 2,512 $ 3,041 $ 3,563 Number of projects with exploratory well costs that have been capitalized for a period greater than one year * 17 22 30 * Certain projects have multiple wells or fields or both.
Aging of Costs on Well and Project Basis	The $2,486 of suspended well costs capitalized for a period greater than one year as of December 31, 2020, represents 89 exploratory wells in 17 projects. The tables below contain the aging of these costs on a well and project basis: Aging based on drilling completion date of individual wells: Amount Number of wells 2000-2009 $ 342 17 2010-2014 1,457 54 2015-2019 687 18 Total $ 2,486 89 Aging based on drilling completion date of last suspended well in project: Amount Number of projects 2003-2012 $ 371 4 2013-2016 1,627 8 2017-2020 488 5 Total $ 2,486 17

Stock Options and Other Share_2

Stock Options and Other Share-Based Compensation (Tables)	12 Months Ended
Stock Options and Other Share-Based Compensation (Tables)	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Fair market values of stock options and stock appreciation rights granted	The fair market values of stock options and stock appreciation rights granted in 2020, 2019 and 2018 were measured on the date of grant using the Black-Scholes option-pricing model, with the following weighted-average assumptions: Year ended December 31 2020 2019 2018 Expected term in years 1 6.6 6.6 6.5 Volatility 2 20.8 % 20.5 % 21.2 % Risk-free interest rate based on zero coupon U.S. treasury note 1.5 % 2.6 % 2.6 % Dividend yield 4.0 % 3.8 % 3.8 % Weighted-average fair value per option granted $ 13.00 $ 15.82 $ 18.18 1 Expected term is based on historical exercise and post-vesting cancellation data. 2 Volatility rate is based on historical stock prices over an appropriate period, generally equal to the expected term.
Summary of option activity	A summary of option activity, including Noble, during 2020 is presented below: Shares (Thousands) Weighted-Average Averaged Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at January 1, 2020 86,641 $ 103.22 Granted 8,281 $ 150.98 Exercised (2,739) $ 78.92 Forfeited (2,033) $ 110.72 Outstanding at December 31, 2020 90,150 $ 108.17 4.11 $ 23 Exercisable at December 31, 2020 80,860 $ 107.65 3.59 $ 23

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
Employee Benefit Plans (Tables)	Dec. 31, 2020
Retirement Benefits [Abstract]
Funded status of pension and other postretirement benefit plans	The funded status of the company’s pension and OPEB plans for 2020 and 2019 follows: Pension Benefits 2020 2019 Other Benefits U.S. Int’l. U.S. Int’l. 2020 2019 Change in Benefit Obligation Benefit obligation at January 1 $ 14,465 $ 5,680 $ 11,726 $ 4,820 $ 2,520 $ 2,430 Service cost 497 130 406 139 38 36 Interest cost 353 175 397 199 71 96 Plan participants’ contributions — 3 — 4 59 72 Plan amendments — — — 29 — — Actuarial (gain) loss 1,782 550 2,922 673 191 125 Foreign currency exchange rate changes — 158 — 121 (1) 2 Benefits paid (2,045) (368) (1,035) (302) (214) (240) Divestitures/Acquisitions 22 — 49 — — (1) Curtailment 92 (21) — (3) (14) — Benefit obligation at December 31 15,166 6,307 14,465 5,680 2,650 2,520 Change in Plan Assets Fair value of plan assets at January 1 10,177 4,791 8,532 4,142 — — Actual return on plan assets 848 500 1,548 566 — — Foreign currency exchange rate changes — 174 — 115 — — Employer contributions 950 263 1,096 266 155 168 Plan participants’ contributions — 3 — 4 59 72 Benefits paid (2,045) (368) (1,035) (302) (214) (240) Divestitures/Acquisitions — — 36 — — — Fair value of plan assets at December 31 9,930 5,363 10,177 4,791 — — Funded status at December 31 $ (5,236) $ (944) $ (4,288) $ (889) $ (2,650) $ (2,520)
Consolidated Balance Sheet for pension and other postretirement benefit plans	Amounts recognized on the Consolidated Balance Sheet for the company’s pension and OPEB plans at December 31, 2020 and 2019, include: Pension Benefits 2020 2019 Other Benefits U.S. Int’l. U.S. Int’l. 2020 2019 Deferred charges and other assets $ 24 $ 547 $ 23 $ 413 $ — $ — Accrued liabilities (258) (76) (239) (71) (153) (174) Noncurrent employee benefit plans (5,002) (1,415) (4,072) (1,231) (2,497) (2,346) Net amount recognized at December 31 $ (5,236) $ (944) $ (4,288) $ (889) $ (2,650) $ (2,520)
Before tax basis amount in accumulated other comprehensive loss	Amounts recognized on a before-tax basis in “Accumulated other comprehensive loss” for the company’s pension and OPEB plans were $7,278 and $6,357 at the end of 2020 and 2019, respectively. These amounts consisted of: Pension Benefits 2020 2019 Other Benefits U.S. Int’l. U.S. Int’l. 2020 2019 Net actuarial loss $ 5,714 $ 1,401 $ 5,135 $ 1,269 $ 260 $ 74 Prior service (credit) costs 3 86 5 102 (186) (228) Total recognized at December 31 $ 5,717 $ 1,487 $ 5,140 $ 1,371 $ 74 $ (154)
Pension plans with accumulated benefit obligation in excess of plan assets	Information for U.S. and international pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2020 and 2019, was: Pension Benefits 2020 2019 U.S. Int’l. U.S. Int’l. Projected benefit obligations $ 15,103 $ 2,084 $ 14,401 $ 1,554 Accumulated benefit obligations 13,545 1,622 12,718 1,268 Fair value of plan assets 9,842 600 10,091 278
Components of net periodic benefit cost and amounts recognized in other comprehensive income	The components of net periodic benefit cost and amounts recognized in the Consolidated Statement of Comprehensive Income for 2020, 2019 and 2018 are shown in the table below: Pension Benefits 2020 2019 2018 Other Benefits U.S. Int’l. U.S. Int’l. U.S. Int’l. 2020 2019 2018 Net Periodic Benefit Cost Service cost $ 497 $ 130 $ 406 $ 139 $ 480 $ 141 $ 38 $ 36 $ 42 Interest cost 353 175 397 199 370 206 71 96 94 Expected return on plan assets (650) (209) (565) (231) (636) (253) — — — Amortization of prior service costs (credits) 2 10 2 11 2 10 (28) (28) (28) Recognized actuarial losses 385 45 239 21 304 29 3 (3) 15 Settlement losses 620 37 259 3 411 33 — — — Curtailment losses (gains) 92 2 — 16 — 3 (27) — — Total net periodic benefit cost 1,299 190 738 158 931 169 57 101 123 Changes Recognized in Comprehensive Income Net actuarial (gain) loss during period 1,584 230 1,939 338 151 12 190 128 (248) Amortization of actuarial loss (1,005) (98) (498) (24) (715) (62) (4) 3 (15) Prior service (credits) costs during period — — — 29 — 23 — (1) 3 Amortization of prior service (costs) credits (2) (17) (2) (30) (2) (13) 42 28 28 Total changes recognized in other 577 115 1,439 313 (566) (40) 228 158 (232) Recognized in Net Periodic Benefit Cost and Other Comprehensive Income $ 1,876 $ 305 $ 2,177 $ 471 $ 365 $ 129 $ 285 $ 259 $ (109)
Weighted-average assumptions used to determine benefit obligations and net periodic benefit costs	The following weighted-average assumptions were used to determine benefit obligations and net periodic benefit costs for years ended December 31: Pension Benefits 2020 2019 2018 Other Benefits U.S. Int’l. U.S. Int’l. U.S. Int’l. 2020 2019 2018 Assumptions used to determine benefit obligations: Discount rate 2.4 % 2.4 % 3.1 % 3.2 % 4.2 % 4.4 % 2.6 % 3.2 % 4.4 % Rate of compensation increase 4.5 % 4.0 % 4.5 % 4.0 % 4.5 % 4.0 % N/A N/A N/A Assumptions used to determine net periodic benefit cost: Discount rate for service cost 3.3 % 3.2 % 4.4 % 4.4 % 3.7 % 3.9 % 3.5 % 4.6 % 3.9 % Discount rate for interest cost 2.6 % 3.2 % 3.7 % 4.4 % 3.0 % 3.9 % 3.0 % 4.2 % 3.5 % Expected return on plan assets 6.5 % 4.5 % 6.8 % 5.6 % 6.8 % 5.5 % N/A N/A N/A Rate of compensation increase 4.5 % 4.0 % 4.5 % 4.0 % 4.5 % 4.0 % N/A N/A N/A
Fair value measurements of the Company's pension plans	The fair value measurements of the company’s pension plans for 2020 and 2019 are as follows: U.S. Int’l. Total Level 1 Level 2 Level 3 NAV Total Level 1 Level 2 Level 3 NAV At December 31, 2019 Equities U.S. 1 $ 1,769 $ 1,769 $ — $ — $ — $ 471 $ 471 $ — $ — $ — International 1,958 1,958 — — — 422 421 — 1 — Collective Trusts/Mutual Funds 2 1,079 52 — — 1,027 184 6 — — 178 Fixed Income Government 523 — 523 — — 265 144 121 — — Corporate 1,444 — 1,444 — — 493 — 490 3 — Bank Loans 120 — 113 7 — — — — — — Mortgage/Asset Backed 1 — 1 — — 4 — 4 — — Collective Trusts/Mutual Funds 2 963 — — — 963 2,230 5 — — 2,225 Mixed Funds 3 — — — — — 84 7 77 — — Real Estate 4 1,089 — — — 1,089 277 — — 55 222 Alternative Investments 924 — — — 924 — — — — — Cash and Cash Equivalents 235 228 7 — — 338 334 2 — 2 Other 5 72 (5) 29 44 4 23 — 21 2 — Total at December 31, 2019 $ 10,177 $ 4,002 $ 2,117 $ 51 $ 4,007 $ 4,791 $ 1,388 $ 715 $ 61 $ 2,627 At December 31, 2020 Equities U.S. 1 $ 2,286 $ 2,286 $ — $ — $ — $ 443 $ 443 $ — $ — $ — International 2,211 2,210 — 1 — 373 373 — — — Collective Trusts/Mutual Funds 2 1,107 48 — — 1,059 192 7 — — 185 Fixed Income Government 231 — 231 — — 240 125 115 — — Corporate 778 — 778 — — 578 10 568 — — Bank Loans 129 — 127 2 — — — — — — Mortgage/Asset Backed 1 — 1 — — 4 — 4 — — Collective Trusts/Mutual Funds 2 1,901 13 — — 1,888 2,520 4 — — 2,516 Mixed Funds 3 — — — — — 127 38 89 — — Real Estate 4 1,018 — — — 1,018 448 — — 45 403 Alternative Investments — — — — — — — — — — Cash and Cash Equivalents 221 209 12 — — 417 408 3 — 6 Other 5 47 (19) 22 41 3 21 (2) 19 4 — Total at December 31, 2020 $ 9,930 $ 4,747 $ 1,171 $ 44 $ 3,968 $ 5,363 $ 1,406 $ 798 $ 49 $ 3,110 1 U.S. equities include investments in the company’s common stock in the amount of $4 at December 31, 2020, and $6 at December 31, 2019. 2 Collective Trusts/Mutual Funds for U.S. plans are entirely index funds; for International plans, they are mostly unit trust and index funds. 3 Mixed funds are composed of funds that invest in both equity and fixed-income instruments in order to diversify and lower risk. 4 The year-end valuations of the U.S. real estate assets are based on third-party appraisals that occur at least once a year for each property in the portfolio. 5 The “Other” asset class includes net payables for securities purchased but not yet settled (Level 1); dividends and interest- and tax-related receivables (Level 2); insurance contracts (Level 3); and investments in private-equity limited partnerships (NAV).
The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period	The effects of fair value measurements using significant unobservable inputs on changes in Level 3 plan assets are outlined below: Equity Fixed Income International Corporate Bank Loans Real Estate Other Total Total at December 31, 2018 $ 1 $ 21 $ 5 $ 56 $ 46 $ 129 Actual Return on Plan Assets: Assets held at the reporting date (1) 1 — — (1) (1) Assets sold during the period — — — — — — Purchases, Sales and Settlements — (19) — (1) 1 (19) Transfers in and/or out of Level 3 1 — 2 — — 3 Total at December 31, 2019 $ 1 $ 3 $ 7 $ 55 $ 46 $ 112 Actual Return on Plan Assets: Assets held at the reporting date — — — — 1 1 Assets sold during the period — — — (10) — (10) Purchases, Sales and Settlements — (3) (5) — (2) (10) Transfers in and/or out of Level 3 — — — — — — Total at December 31, 2020 $ 1 $ — $ 2 $ 45 $ 45 $ 93
Benefit payments, which include estimated future service that are expected to be paid by the company in the next 10 years	The following benefit payments, which include estimated future service, are expected to be paid by the company in the next 10 years: Pension Benefits Other U.S. Int’l. Benefits 2021 $ 1,779 $ 658 $ 153 2022 919 220 162 2023 1,069 225 158 2024 1,097 243 154 2025 1,068 250 151 2026-2030 4,856 1,400 706

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	12 Months Ended
Asset Retirement Obligations (Tables)	Dec. 31, 2020
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Changes to the Company's Before-tax Asset Retirement Obligation	The following table indicates the changes to the company’s before-tax asset retirement obligations in 2020, 2019 and 2018: 2020 2019 2018 Balance at January 1 $ 12,832 $ 14,050 $ 14,214 Liabilities assumed in the Noble acquisition 630 — — Liabilities incurred 10 32 96 Liabilities settled (1,661) (1,694) (830) Accretion expense 560 628 654 Revisions in estimated cash flows 1,245 (184) (84) Balance at December 31 $ 13,616 $ 12,832 $ 14,050

Other Financial Information (Ta

Other Financial Information (Tables)	12 Months Ended
Other Financial Information (Tables)	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Financial Information	Other financial information is as follows: Year ended December 31 2020 2019 2018 Total financing interest and debt costs $ 735 $ 817 $ 921 Less: Capitalized interest 38 19 173 Interest and debt expense $ 697 $ 798 $ 748 Research and development expenses $ 435 $ 500 $ 453 Excess of replacement cost over the carrying value of inventories (LIFO method) $ 2,749 $ 4,513 $ 5,134 LIFO profits (losses) on inventory drawdowns included in earnings $ (147) $ (9) $ 26 Foreign currency effects * $ (645) $ (304) $ 611 * Includes $(152), $(28) and $416 in 2020, 2019 and 2018, respectively, for the company’s share of equity affiliates’ foreign currency effects.

Summarized Financial Data _ C_2

Summarized Financial Data – Chevron Phillips Chemical Company LLC (Tables)	12 Months Ended
	Dec. 31, 2020
Summarized Financial Data of Subsidiary Two [Abstract]
Summarized Financial Data - Chevron Phillips Chemical Company LLC	The summarized financial information for CUSA and its consolidated subsidiaries is as follows: Year ended December 31 2020 2019 2018 Sales and other operating revenues $ 67,950 $ 109,314 $ 125,076 Total costs and other deductions 72,575 116,365 121,351 Net income (loss) attributable to CUSA (2,676) (5,061) 4,334 Year ended December 31 2020 2019 2018 Sales and other operating revenues $ 8,407 $ 9,333 $ 11,310 Costs and other deductions 7,221 7,863 9,812 Net income attributable to CPChem 1,260 1,760 2,069
Summarized Financial Data and its Subsidiary	At December 31 2020 2019 Current assets $ 10,555 $ 13,059 Other assets 48,054 50,796 Current liabilities 12,403 18,291 Other liabilities 14,102 12,565 Total CUSA net equity $ 32,104 $ 32,999 Memo: Total debt $ 7,133 $ 3,222 At December 31 2020 2019 Current assets $ 2,816 $ 2,554 Other assets 14,210 14,314 Current liabilities 1,394 1,247 Other liabilities 3,380 3,174 Total CPChem net equity $ 12,252 $ 12,447

Restructuring and Reorganizat_2

Restructuring and Reorganization Costs (Tables)	12 Months Ended
Restructuring and Reorganization Costs (Tables)	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following table summarizes the accrued severance liability, which is classified as current on the Consolidated Balance Sheet. Amounts Before Tax Balance at January 1, 2020 $ 7 Accruals/Adjustments 859 Payments (396) Balance at December 31, 2020 $ 470

Acquisition of Noble Energy, _2

Acquisition of Noble Energy, Inc. (Tables)	12 Months Ended
Acquisition of Noble Energy, Inc. (Tables)	Dec. 31, 2020
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes the values assigned to assets acquired and liabilities assumed: At October 5, 2020 Current assets $ 1,105 Investments and long-term receivables 1,282 Properties (includes $14,935 for oil and gas properties) 16,703 Other assets 607 Total assets acquired 19,697 Current liabilities 1,829 Long-term debt and finance leases 9,231 Deferred income taxes 2,355 Other liabilities 1,394 Total liabilities assumed 14,809 Noncontrolling interest and redeemable noncontrolling interest 779 Net assets acquired $ 4,109
Business Acquisition, Pro Forma Information	The following unaudited pro forma summary presents the results of operations as if the acquisition of Noble had occurred January 1, 2019: Year ended December 31 2020 2019 Sales and other operating revenues $ 96,980 $ 144,303 Net income $ (9,890) $ 1,412

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	12 Months Ended
Summary of Significant Accounting Policies (Details)	Dec. 31, 2020
Accounting Policies [Abstract]
Percent of the right-of-use assets recognized when the company is the sole signatory for the lease	100.00%
Percent of the lease liabilities recognized when the company is the sole signatory for the lease	100.00%
Revenue, performance obligation, description of timing	Payment is generally due within 30 days of delivery.
Performance Shares \| Chevron Long-Term Incentive Plan (LTIP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at January 1	$ 145,208	$ 155,642	$ 149,319
Components of Other Comprehensive Income (Loss):
Before Reclassifications	(1,454)	(1,855)	4
Reclassifications	832	409	603
Other Comprehensive Gain (Loss), Net of Tax	(622)	(1,446)	607
Stranded Tax Reclassification to Retained Earnings			(562)
Balance at December 31	132,726	145,208	155,642
Income tax expense (benefit)	(1,892)	2,691	5,715
Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at January 1	(142)	(124)	(105)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	35	(18)	(19)
Reclassifications	0	0	0
Other Comprehensive Gain (Loss), Net of Tax	35	(18)	(19)
Stranded Tax Reclassification to Retained Earnings			0
Balance at December 31	(107)	(142)	(124)
Unrealized Holding Gains (Losses) on Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at January 1	(8)	(10)	(5)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	(2)	2	(5)
Reclassifications	0	0	0
Other Comprehensive Gain (Loss), Net of Tax	(2)	2	(5)
Stranded Tax Reclassification to Retained Earnings			0
Balance at December 31	(10)	(8)	(10)
Derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at January 1	0	(2)	(2)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	0	(1)	0
Reclassifications	0	3	0
Other Comprehensive Gain (Loss), Net of Tax	0	2	0
Stranded Tax Reclassification to Retained Earnings			0
Balance at December 31	0	0	(2)
Defined Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at January 1	(4,840)	(3,408)	(3,477)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	(1,487)	(1,838)	28
Reclassifications	832	406	603
Other Comprehensive Gain (Loss), Net of Tax	(655)	(1,432)	631
Stranded Tax Reclassification to Retained Earnings			(562)
Balance at December 31	(5,495)	(4,840)	(3,408)
Defined Benefit Plans \| Reclassification out of Accumulated Other Comprehensive Income
Components of Other Comprehensive Income (Loss):
Reclassification, before tax amount	1,084
Income tax expense (benefit)	252
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at January 1	(4,990)	(3,544)	(3,589)
Components of Other Comprehensive Income (Loss):
Other Comprehensive Gain (Loss), Net of Tax	(622)	(1,446)	607
Balance at December 31	$ (5,612)	$ (4,990)	$ (3,544)

Information Relating to the C_3

Information Relating to the Consolidated Statement of Cash Flows - Summary of Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Distributions more (less) than income from equity affiliates includes the following:
Distributions from equity affiliates	$ 1,543	$ 1,895	$ 2,747
(Income) loss from equity affiliates	472	(3,968)	(6,327)
Distributions more (less) than income from equity affiliates	2,015	(2,073)	(3,580)
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable	2,423	1,852	437
Decrease (increase) in inventories	284	7	(424)
Decrease (increase) in prepaid expenses and other current assets	(87)	(323)	(149)
Increase (decrease) in accounts payable and accrued liabilities	(3,576)	(109)	(494)
Increase (decrease) in income and other taxes payable	(696)	67	(88)
Net decrease (increase) in operating working capital	(1,652)	1,494	(718)
Net cash provided by operating activities includes the following cash payments:
Interest on debt (net of capitalized interest)	720	810	736
Income taxes	2,987	4,817	4,748
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales	2,891	2,809	2,000
Returns of investment from equity affiliates	77	142	392
Proceeds and deposits related to asset sales and returns of investment	2,968	2,951	2,392
Net maturities (investments) of time deposits consisted of the following gross amounts:
Investments in time deposits	0	0	(950)
Maturities of time deposits	0	950	0
Net maturities of (investments in) time deposits	0	950	(950)
Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased	0	(1)	(51)
Marketable securities sold	35	3	0
Net sales (purchases) of marketable securities	35	2	(51)
Net repayment (borrowing) of loans by equity affiliates:
Borrowing of loans by equity affiliates	(3,925)	(1,350)	0
Repayment of loans by equity affiliates	2,506	105	111
Net repayment (borrowing) of loans by equity affiliates	(1,419)	(1,245)	111
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term obligations	10,846	2,586	2,486
Repayments of short-term obligations	(9,771)	(1,430)	(4,136)
Net borrowings (repayments) of short-term obligations with three months or less maturity	(424)	(3,977)	3,671
Net borrowings (repayments) of short-term obligations	651	(2,821)	2,021
Capital expenditures
Additions to properties, plant and equipment	8,492	13,839	13,384
Additions to investments	136	140	65
Current-year dry hole expenditures	327	124	344
Payments for other liabilities and assets, net	(33)	13	(1)
Capital expenditures	8,922	14,116	13,792
Expensed exploration expenditures	500	598	523
Assets acquired through finance leases and other obligations	53	181	75
Payments for other assets and liabilities, net	42	(13)	0
Capital and exploratory expenditures, excluding equity affiliates	9,517	14,882	14,390
Company’s share of expenditures by equity affiliates	3,982	6,112	5,716
Capital and exploratory expenditures, including equity affiliates	13,499	20,994	20,106
Net sales (purchases) of treasury shares consists of the following gross and net amounts:
Shares issued for share-based compensation plans	226	1,104	1,147
Shares purchased under share repurchase and deferred compensation plans	(1,757)	(4,039)	(1,751)
Net sales (purchases) of treasury shares	(1,531)	(2,935)	(604)
Non-cash additions to properties, plant and equipment	$ 816		$ 25
Non-cash additions to properties, plant and equipment		$ (239)

Information Relating to the C_4

Information Relating to the Consolidated Statement of Cash Flows - Narrative (Details) - USD ($) $ in Billions	Dec. 31, 2020	Dec. 31, 2019
Upstream \| Operating Segments
Segment Reporting Information [Line Items]
Non cash transaction in operating segments	$ 4.8	$ 9.3

Information Relating to the C_5

Information Relating to the Consolidated Statement of Cash Flows - Cash Balances (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 5,596	$ 5,686	$ 9,342
Restricted cash included in “Prepaid expenses and other current assets”	365	452	341
Restricted cash included in “Deferred charges and other assets”	776	773	798
Total cash, cash equivalents and restricted cash	$ 6,737	$ 6,911	$ 10,481	$ 5,943

Lease Commitments - Balance She

Lease Commitments - Balance Sheets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
Right-of-use asset	$ 3,949	$ 4,074
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Operating lease liability, current	$ 1,291	$ 1,277
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Noncurrent operating lease liabilities	$ 2,615	$ 2,608
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilities	us-gaap:OtherLiabilities
Total operating lease liabilities	$ 3,906	$ 3,885
Weighted-average remaining lease term (in years)	7 years 2 months 12 days	5 years 2 months 12 days
Weighted-average discount rate	2.80%	3.20%
Finance Leases
Right-of-use asset	$ 455	$ 329
Current lease liabilities	186	18
Noncurrent lease liabilities	447	282
Finance lease liability	$ 633	$ 300
Weighted-average remaining lease term (in years)	10 years 4 months 24 days	16 years
Weighted-average discount rate	3.90%	4.70%
Right-of-use asset obtained in exchange for operating lease liability	$ 1,353	$ 1,201
Right-of-use asset obtained in exchange for finance lease liability	164	$ 184
Puma
Operating Leases
Right-of-use asset	566
Total operating lease liabilities	566
Noble
Operating Leases
Right-of-use asset	124
Total operating lease liabilities	148
Finance Leases
Right-of-use asset	112
Finance lease liability	$ 309

Lease Commitments - Lease Cost

Lease Commitments - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease costs	$ 2,551	$ 2,621
Finance lease costs	45	66
Total lease costs	$ 2,596	$ 2,687
Net rental expense			$ 816

Lease Commitments - Cash Paid (

Lease Commitments - Cash Paid (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 1,744	$ 1,574
Investing cash flows from operating leases	762	1,047
Operating cash flows from finance leases	14	13
Financing cash flows from finance leases	$ 34	$ 24

Lease Commitments - ASC 842 (De

Lease Commitments - ASC 842 (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
2021	$ 1,376
2022	779
2023	497
2024	338
2025	255
Thereafter	1,112
Total	4,357
Less: Amounts representing interest	451
Total lease liabilities	3,906	$ 3,885
Finance Leases
2021	204
2022	60
2023	58
2024	56
2025	53
Thereafter	331
Total	762
Less: Amounts representing interest	129
Total lease liabilities	$ 633	$ 300

Lease Commitments - Narrative (

Lease Commitments - Narrative (Details) $ in Millions	12 Months Ended
Lease Commitments - Narrative (Details) $ in Millions	Dec. 31, 2020USD ($)
Leases [Abstract]
Future undiscounted cash flows for operating leases not yet commenced	$ 907

Summarized Financial Data - C_3

Summarized Financial Data - Chevron U.S.A. Inc. - Summary of Income Statement Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsidiary Statements Captions [Line Items]
Sales and other operating revenues	$ 94,471	$ 139,865	$ 158,902
Total costs and other deductions	102,145	140,980	145,764
Net Income (Loss) Attributable to Chevron Corporation	(5,543)	2,924	14,824
Chevron U.S.A. Inc.
Subsidiary Statements Captions [Line Items]
Sales and other operating revenues	67,950	109,314	125,076
Total costs and other deductions	72,575	116,365	121,351
Net Income (Loss) Attributable to Chevron Corporation	$ (2,676)	$ (5,061)	$ 4,334

Summarized Financial Data - C_4

Summarized Financial Data - Chevron U.S.A. Inc. - Summary of Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Subsidiary Statements Captions [Line Items]
Current assets	$ 26,078	$ 28,329
Current liabilities	22,183	26,530
Total CUSA net equity	132,726	145,208	$ 155,642	$ 149,319
Chevron U.S.A. Inc.
Subsidiary Statements Captions [Line Items]
Current assets	10,555	13,059
Other assets	48,054	50,796
Current liabilities	12,403	18,291
Other liabilities	14,102	12,565
Total CUSA net equity	32,104	32,999
Memo: Total debt	$ 7,133	$ 3,222

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives	$ 74	$ 11
Derivatives	173	74
Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	31	63
Derivatives	74	11
Total assets at fair value	105	74
Derivatives	173	74
Total liabilities at fair value	173	74
Recurring basis \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	31	63
Derivatives	37	1
Total assets at fair value	68	64
Derivatives	58	26
Total liabilities at fair value	58	26
Recurring basis \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Derivatives	37	10
Total assets at fair value	37	10
Derivatives	115	48
Total liabilities at fair value	115	48
Recurring basis \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Derivatives	0	0
Total assets at fair value	0	0
Derivatives	0	0
Total liabilities at fair value	$ 0	$ 0

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Assets and Liabilities Measured On a Non-Recurring Basis (Details) - Nonrecurring basis - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Properties, plant and equipment, net (held and used)	$ 2,443	$ 2,177
Properties, plant and equipment, net (held for sale)	1,418	1,412
Investments and advances	28	52
Total assets at fair value	3,889	3,641
Properties, plant and equipment, net (held and used), Before-Tax Loss	2,599	2,095
Properties, plant and equipment, net (held for sale), Before-Tax Loss	193	8,702
Investments and advances, Before-Tax Loss	2,555	594
Total nonrecurring assets at fair value, Before-Tax Loss	5,347	11,391
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Properties, plant and equipment, net (held and used)	0	0
Properties, plant and equipment, net (held for sale)	0	0
Investments and advances	0	0
Total assets at fair value	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Properties, plant and equipment, net (held and used)	20	0
Properties, plant and equipment, net (held for sale)	1,418	1,412
Investments and advances	0	30
Total assets at fair value	1,438	1,442
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Properties, plant and equipment, net (held and used)	2,423	2,177
Properties, plant and equipment, net (held for sale)	0	0
Investments and advances	28	22
Total assets at fair value	$ 2,451	$ 2,199

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 5,596	$ 5,686	$ 9,342
Carrying/fair value of investments not included in cash and cash equivalents	1,141	1,225
Carrying amount of long-term debt	25,676
Carrying Amount of Long-term Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amount of long-term debt	30,805	13,659
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amount of long-term debt	$ 34,390	14,326
Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maturity period of primarily bank time deposits, classified as cash equivalents, maximum	90 days
Nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets at fair value	$ 3,889	3,641
Level 3 \| Nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets at fair value	2,451	2,199
Level 1 \| Corporate Bond Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	32,123
Level 1 \| Nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets at fair value	0	0
Level 2 \| Other Long-term Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	2,267
Level 2 \| Nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets at fair value	$ 1,438	$ 1,442

Financial and Derivative Inst_3

Financial and Derivative Instruments - Fair Value of Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Total assets at fair value	$ 74	$ 11
Total liabilities at fair value	173	74
Commodity \| Accounts and notes receivable, net
Derivatives, Fair Value [Line Items]
Total assets at fair value	73	11
Commodity \| Long-term receivables, net
Derivatives, Fair Value [Line Items]
Total assets at fair value	1	0
Commodity \| Accounts payable
Derivatives, Fair Value [Line Items]
Total liabilities at fair value	172	74
Commodity \| Deferred credits and other noncurrent obligations
Derivatives, Fair Value [Line Items]
Total liabilities at fair value	$ 1	$ 0

Financial and Derivative Inst_4

Financial and Derivative Instruments - Effect of Derivatives Not Designated On Hedging Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments not designated as hedging instruments, gain (loss), net	$ 40	$ (310)	$ 105
Commodity \| Sales and other operating revenues
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments not designated as hedging instruments, gain (loss), net	69	(291)	135
Commodity \| Purchased crude oil and products
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments not designated as hedging instruments, gain (loss), net	(36)	(17)	(33)
Commodity \| Other income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments not designated as hedging instruments, gain (loss), net	$ 7	$ (2)	$ 3

Financial and Derivative Inst_5

Financial and Derivative Instruments - Effect of Netting Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Offsetting Assets [Abstract]
Derivative Asset, Gross Amount Recognized	$ 818	$ 656
Derivative Asset, Gross Amounts Offset	744	645
Derivative Asset, Net Amounts Presented	74	11
Derivative Asset, Gross Amounts Not Offset	0	0
Derivative Asset, Net Amount	74	11
Offsetting Liabilities [Abstract]
Derivative Liability, Gross Amount Recognized	917	719
Derivative Liability, Gross Amounts Offset	744	645
Derivative Liability, Net Amounts Presented	173	74
Derivative Liability, Gross Amounts Not Offset	0	0
Derivative Liability, Net Amount	$ 173	$ 74

Assets Held for Sale (Details)

Assets Held for Sale (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 1,101	$ 3,411
Disposal Group, Held-for-sale or Disposed of by Sales, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 1,101

Equity (Details)

Equity (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company's share of undistributed earnings for equity affiliates	$ 26,532	$ 25,319
Shares remaining available for issuance (in shares)	644,376
Shares available for issuance (in shares)	1,600,000
Chevron Long-Term Incentive Plan (LTIP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares remaining available for issuance (in shares)	67,000,000
Shares available for issuance (in shares)	260,000,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Basic EPS Calculation
Earnings available to common stockholders - Basic	$ (5,543)	$ 2,924	$ 14,824
Weighted-average number of common shares outstanding (in shares)	1,870	1,882	1,897
Add: Deferred awards held as stock units (in shares)	0	0	1
Total weighted-average number of common shares outstanding (in shares)	1,870	1,882	1,898
Earnings per share of common stock - Basic (in dollars per share)	$ (2.96)	$ 1.55	$ 7.81
Diluted EPS Calculation
Earnings available to common stockholders - Diluted	$ (5,543)	$ 2,924	$ 14,824
Weighted-average number of common shares outstanding (in shares)	1,870	1,882	1,897
Add: Deferred awards held as stock units (in shares)	0	0	1
Add: Dilutive effect of employee stock-based awards (in shares)	0	13	16
Total weighted-average number of common shares outstanding (in shares)	1,870	1,895	1,914
Earnings per share of common stock - Diluted (in dollars per share)	$ (2.96)	$ 1.54	$ 7.74
Antidilutive securities excluded from computation of earnings per share (in shares)	1

Operating Segments and Geogra_3

Operating Segments and Geographic Data - Narrative (Details)	12 Months Ended
	Dec. 31, 2020segment
Segment Reporting [Abstract]
Number of reportable segments (in segments)	2
Number of operating segments (in segments)	2

Operating Segments and Geogra_4

Operating Segments and Geographic Data - Segment Earnings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	$ (5,543)	$ 2,924	$ 14,824
Operating Segments
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	(2,386)	5,057	17,114
Operating Segments \| Upstream
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	(2,433)	2,576	13,316
Operating Segments \| Downstream
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	47	2,481	3,798
Segment Reconciling Items
Segment Reporting Information [Line Items]
Interest expense	(658)	(761)	(713)
Interest income	52	181	137
Other	(2,551)	(1,553)	(1,714)
United States \| Operating Segments \| Upstream
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	(1,608)	(5,094)	3,278
United States \| Operating Segments \| Downstream
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	(571)	1,559	2,103
International \| Operating Segments \| Upstream
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	(825)	7,670	10,038
International \| Operating Segments \| Downstream
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	$ 618	$ 922	$ 1,695

Operating Segments and Geogra_5

Operating Segments and Geographic Data - Segment Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total Assets	$ 239,790	$ 237,428
Goodwill	4,402	4,463
United States
Segment Reporting Information [Line Items]
Total Assets	69,938	64,598
International
Segment Reporting Information [Line Items]
Total Assets	165,450	168,367
Operating Segments
Segment Reporting Information [Line Items]
Total Assets	230,895	228,189
Operating Segments \| Upstream
Segment Reporting Information [Line Items]
Total Assets	191,309	186,037
Goodwill	4,402	4,463
Operating Segments \| Upstream \| United States
Segment Reporting Information [Line Items]
Total Assets	42,431	35,926
Operating Segments \| Upstream \| International
Segment Reporting Information [Line Items]
Total Assets	144,476	145,648
Operating Segments \| Downstream
Segment Reporting Information [Line Items]
Total Assets	39,586	42,152
Operating Segments \| Downstream \| United States
Segment Reporting Information [Line Items]
Total Assets	23,490	25,197
Operating Segments \| Downstream \| International
Segment Reporting Information [Line Items]
Total Assets	16,096	16,955
Segment Reconciling Items
Segment Reporting Information [Line Items]
Total Assets	8,895	9,239
Segment Reconciling Items \| United States
Segment Reporting Information [Line Items]
Total Assets	4,017	3,475
Segment Reconciling Items \| International
Segment Reporting Information [Line Items]
Total Assets	$ 4,878	$ 5,764

Operating Segments and Geogra_6

Operating Segments and Geographic Data - Segment Sales and Operating Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	$ 94,471	$ 139,865	$ 158,902
Oil and Gas
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	94,471	139,865	158,902
Oil and Gas \| Upstream
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	26,311	31,707	33,069
Oil and Gas \| Downstream
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	68,083	107,912	125,597
Oil and Gas \| Operating Segments
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	113,665	172,995	191,228
Oil and Gas \| Operating Segments \| United States
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	47,910	79,693	83,289
Oil and Gas \| Operating Segments \| International
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	65,755	93,302	107,939
Oil and Gas \| Operating Segments \| Upstream
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	41,381	58,986	60,713
Oil and Gas \| Operating Segments \| Upstream \| United States
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	14,577	23,358	22,891
Oil and Gas \| Operating Segments \| Upstream \| International
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	26,804	35,628	37,822
Oil and Gas \| Operating Segments \| Downstream
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	71,525	112,925	129,471
Oil and Gas \| Operating Segments \| Downstream \| United States
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	32,589	55,271	59,376
Oil and Gas \| Operating Segments \| Downstream \| International
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	38,936	57,654	70,095
Oil and Gas \| Intersegment \| United States
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	(667)	(818)	(786)
Oil and Gas \| Intersegment \| International
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	(15)	(20)	(22)
Oil and Gas \| Intersegment \| Upstream \| United States
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	(8,068)	(14,944)	(13,965)
Oil and Gas \| Intersegment \| Upstream \| International
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	(7,002)	(12,335)	(13,679)
Oil and Gas \| Intersegment \| Downstream \| United States
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	(2,150)	(3,924)	(2,742)
Oil and Gas \| Intersegment \| Downstream \| International
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	(1,292)	(1,089)	(1,132)
Oil and Gas \| Corporate And Eliminations [Member]
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	77	246	236
Oil and Gas \| Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	759	1,084	1,044
Oil and Gas \| Corporate, Non-Segment [Member] \| United States
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	744	1,064	1,022
Oil and Gas \| Corporate, Non-Segment [Member] \| International
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	15	20	22
Oil and Gas \| Intersegment Elimination \| United States
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	(10,885)	(19,686)	(17,493)
Oil and Gas \| Intersegment Elimination \| International
Segment Reporting Information [Line Items]
Total Sales and Other Operating Revenues	$ (8,309)	$ (13,444)	$ (14,833)

Operating Segments and Geogra_7

Operating Segments and Geographic Data - Segment Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total Income Tax Expense (Benefit)	$ (1,892)	$ 2,691	$ 5,715
Operating Segments \| Upstream
Segment Reporting Information [Line Items]
Total Income Tax Expense (Benefit)	(985)	1,942	5,498
Operating Segments \| Upstream \| United States
Segment Reporting Information [Line Items]
Total Income Tax Expense (Benefit)	(570)	(1,550)	811
Operating Segments \| Upstream \| International
Segment Reporting Information [Line Items]
Total Income Tax Expense (Benefit)	(415)	3,492	4,687
Operating Segments \| Downstream
Segment Reporting Information [Line Items]
Total Income Tax Expense (Benefit)	61	562	862
Operating Segments \| Downstream \| United States
Segment Reporting Information [Line Items]
Total Income Tax Expense (Benefit)	(192)	392	534
Operating Segments \| Downstream \| International
Segment Reporting Information [Line Items]
Total Income Tax Expense (Benefit)	253	170	328
Segment Reconciling Items
Segment Reporting Information [Line Items]
Total Income Tax Expense (Benefit)	$ (968)	$ 187	$ (645)

Investments and Advances - Summ

Investments and Advances - Summary of Investment and Advances and Equity in Earnings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Investments and Advances	$ 38,756	$ 38,402
Other non-equity method investments	296	286
Total investments and advances	39,052	38,688
Equity in Earnings	(472)	3,968	$ 6,327
United States \| Investments and Advances
Schedule of Equity Method Investments [Line Items]
Total investments and advances	7,978	7,203
United States \| Equity in Earnings
Schedule of Equity Method Investments [Line Items]
Equity in Earnings	709	641	1,033
International \| Investments and Advances
Schedule of Equity Method Investments [Line Items]
Total investments and advances	31,074	31,485
International \| Equity in Earnings
Schedule of Equity Method Investments [Line Items]
Equity in Earnings	(1,181)	3,327	5,294
All Other
Schedule of Equity Method Investments [Line Items]
Investments and Advances	(14)	(14)
Equity in Earnings	0	0	(2)
Upstream \| Operating Segments
Schedule of Equity Method Investments [Line Items]
Investments and Advances	27,653	26,936
Equity in Earnings	(1,140)	2,787	4,649
Upstream \| Operating Segments \| Tengizchevroil
Schedule of Equity Method Investments [Line Items]
Investments and Advances	22,685	20,214
Equity in Earnings	1,238	3,067	3,614
Upstream \| Operating Segments \| Petropiar
Schedule of Equity Method Investments [Line Items]
Investments and Advances	0	1,396
Equity in Earnings	(1,396)	80	317
Upstream \| Operating Segments \| Petroboscan
Schedule of Equity Method Investments [Line Items]
Investments and Advances	0	1,139
Equity in Earnings	(1,112)	(11)	357
Upstream \| Operating Segments \| Caspian Pipeline Consortium
Schedule of Equity Method Investments [Line Items]
Investments and Advances	835	883
Equity in Earnings	159	155	170
Upstream \| Operating Segments \| Angola LNG Limited
Schedule of Equity Method Investments [Line Items]
Investments and Advances	2,258	2,423
Equity in Earnings	(166)	(26)	172
Upstream \| Operating Segments \| Noble Midstream equity affiliates
Schedule of Equity Method Investments [Line Items]
Investments and Advances	895	0
Equity in Earnings	(9)	0	0
Upstream \| Operating Segments \| Other
Schedule of Equity Method Investments [Line Items]
Investments and Advances	980	881
Equity in Earnings	146	(478)	19
Downstream \| Operating Segments
Schedule of Equity Method Investments [Line Items]
Investments and Advances	11,117	11,480
Equity in Earnings	668	1,181	1,680
Downstream \| Operating Segments \| Chevron Phillips Chemical Company LLC
Schedule of Equity Method Investments [Line Items]
Investments and Advances	6,181	6,241
Equity in Earnings	630	880	1,034
Downstream \| Operating Segments \| GS Caltex Corporation
Schedule of Equity Method Investments [Line Items]
Investments and Advances	3,547	3,796
Equity in Earnings	(185)	13	373
Downstream \| Operating Segments \| Other
Schedule of Equity Method Investments [Line Items]
Investments and Advances	1,389	1,443
Equity in Earnings	$ 223	$ 288	$ 273

Investments and Advances - Narr

Investments and Advances - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Variable Interest Entity [Line Items]
Percentage of affiliate by summarized financial information	100.00%
Carrying amount of long-term debt	$ 25,676
Investments and advances	38,756	$ 38,402
Other revenues from transactions with related party	6,038	8,006	$ 10,378
Purchased crude oil and products	50,488	80,113	94,578
Accounts and notes receivable due from affiliated companies	807	810
Accounts payable due to affiliated companies	244	506
Chevron's loan to affiliates	5,153	4,331	3,402
Affiliated Entity \| Oil and Gas, Purchased
Variable Interest Entity [Line Items]
Purchased crude oil and products	$ 3,003	$ 5,694	$ 6,598
Tengizchevroil LLP
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	50.00%
Chevron investment carrying value over underlying equity in TCO's net assets	$ 100
Notes receivable from affiliate	$ 4,825
Petropiar
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	30.00%
Chevron investment carrying value less underlying equity in Petropiar net assets	$ 1,500
Petroboscan
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	39.20%
Chevron investment carrying value over underlying equity in Petroboscan's net assets	$ 1,100
Carrying amount of long-term debt	$ 560
Caspian Pipeline Consortium
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	15.00%
Angola LNG Limited
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	36.40%
Advantage Pipeline LLC
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	50.00%
Delaware Crossing LLC
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	50.00%
EPIC Crude Holdings
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	30.00%
EPIC Y-Grade
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	15.00%
EPIC Propane
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	15.00%
Saddlehorn Pipeline Company, LLC
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	20.00%
Chevron Phillips Chemical Company LLC
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	50.00%
GS Caltex Corporation
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	50.00%

Investments and Advances - Su_2

Investments and Advances - Summary of Financial Information of All Equity Affiliates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Investments [Line Items]
Total revenues	$ 94,692	$ 146,516	$ 166,339
Income before income tax expense	(7,453)	5,536	20,575
Net Income (Loss)	(5,561)	2,845	14,860
Current assets	26,078	28,329
Current liabilities	22,183	26,530
Total affiliates’ net equity	132,726	145,208	155,642	$ 149,319
Chevron \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Investments [Line Items]
Total revenues	21,641	32,628	40,679
Income before income tax expense	2,550	5,954	6,755
Net Income (Loss)	2,034	4,366	6,384
Current assets	7,328	12,998	12,813
Noncurrent assets	43,247	41,531	36,369
Current liabilities	5,052	10,610	9,843
Noncurrent liabilities	5,884	5,068	4,446
Total affiliates’ net equity	39,639	38,851	34,893
Affiliates \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Investments [Line Items]
Total revenues	49,093	66,473	84,469
Income before income tax expense	5,682	13,197	16,693
Net Income (Loss)	4,704	9,809	13,321
Current assets	17,087	30,791	32,657
Noncurrent assets	97,468	97,177	87,614
Current liabilities	12,164	26,032	26,006
Noncurrent liabilities	25,586	21,593	20,000
Total affiliates’ net equity	$ 76,805	$ 80,343	$ 74,265

Litigation (Details)

Litigation (Details) - Pending Litigation $ in Millions	Nov. 13, 2013USD ($)	Feb. 28, 2011USD ($)	Dec. 31, 1991	Dec. 31, 2020LegalMatter
MTBE
Loss Contingencies [Line Items]
Pending lawsuits and claims (in number of claims) \| LegalMatter				6
Ecuador Litigation
Loss Contingencies [Line Items]
Remediation program term (in years)			3 years
Damages awarded \| $	$ 9,500	$ 9,500

Taxes - Summary of Components o

Taxes - Summary of Components of Income Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
U.S. federal
Current	$ (182)	$ (73)	$ (181)
Deferred	(1,315)	(1,074)	738
State and local
Current	65	153	183
Deferred	(152)	(172)	(16)
Total United States	(1,584)	(1,166)	724
International
Current	1,833	4,577	4,662
Deferred	(2,141)	(720)	329
Total International	(308)	3,857	4,991
Total income tax expense (benefit)	$ (1,892)	$ 2,691	$ 5,715

Taxes - Effective Income Tax Re

Taxes - Effective Income Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income (loss) before income taxes
United States	$ (5,700)	$ (5,483)	$ 4,730
International	(1,753)	11,019	15,845
Income (Loss) Before Income Tax Expense	(7,453)	5,536	20,575
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Theoretical tax (at U.S. statutory rate of 21% )	(1,565)	1,163	4,321
Effect of U.S. tax reform	0	3	(26)
Equity affiliate accounting effect	211	(687)	(1,526)
Effect of income taxes from international operations*	(39)	2,196	3,132
State and local taxes on income, net of U.S. federal income tax benefit	(65)	(18)	162
Prior year tax adjustments, claims and settlements	(236)	192	(51)
Tax credits	(33)	(18)	(163)
Other U.S.*	(165)	(140)	(134)
Total income tax expense (benefit)	$ (1,892)	$ 2,691	$ 5,715
Effective income tax rate	25.40%	48.60%	27.80%

Taxes - Narrative (Details)

Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Decrease in income tax expense	$ 4,583
Effective tax rate	25.40%	48.60%	27.80%
Decrease in deferred tax liabilities	$ 403
Increase in deferred tax assets	3,621
Loss carry forward	19,763
Tax credit carryforward	1,056
Carry forward amount of foreign tax credit with expiration dates	10,585
Existing undistributed accumulated earnings of foreign subsidiary	$ 52,100
Percentage of impact of unrecognized tax benefits on effective tax rate if subsequently recognized	83.00%
Unrecognized tax benefits	$ 5,018	$ 4,987	$ 5,070	$ 4,828
Anticipated interest and penalty obligations	(95)
Accrued charges		30
Income tax benefit expense associated with interest and penalties	$ (124)	$ (3)	$ 8

Taxes - Summary of Deferred Tax

Taxes - Summary of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax liabilities
Properties, plant and equipment	$ 16,603	$ 17,251
Investments and other	5,617	5,372
Total deferred tax liabilities	22,220	22,623
Deferred tax assets
Foreign tax credits	(10,585)	(9,840)
Asset retirement obligations/environmental reserves	(4,721)	(4,329)
Employee benefits	(3,856)	(3,454)
Deferred credits	(1,056)	(1,083)
Tax loss carryforwards	(6,701)	(5,262)
Other accrued liabilities	(228)	(441)
Inventory	(633)	(662)
Operating leases	(1,234)	(1,211)
Miscellaneous	(3,685)	(2,796)
Total deferred tax assets	(32,699)	(29,078)
Deferred tax assets valuation allowance	17,762	15,965
Total deferred taxes, net	7,283	9,510
Classification of deferred taxes
Deferred charges and other assets	(5,286)	(4,178)
Noncurrent deferred income taxes	12,569	13,688
Total deferred income taxes, net	$ 7,283	$ 9,510

Taxes - Summary of Unrecognized

Taxes - Summary of Unrecognized Income Tax Benefits and Taxes Other Than on Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Changes to company's unrecognized tax benefits
Balance at January 1	$ 4,987	$ 5,070	$ 4,828
Foreign currency effects	2	1
Foreign currency effects			(6)
Additions based on tax positions taken in current year	253	94	239
Additions for tax positions taken in prior years	437	313	153
Reductions for tax positions taken in prior years	(216)	(194)	(131)
Settlements with taxing authorities in current year	(429)	(78)	(13)
Reductions as a result of a lapse of the applicable statute of limitations	(16)	(219)	0
Balance at December 31	5,018	4,987	5,070
Income Tax Authority [Line Items]
Import duties and other levies	4,499	4,136	4,867
Total taxes other than on income	4,499	4,136	4,867
United States
Income Tax Authority [Line Items]
Excise and similar taxes on products and merchandise	4,566	4,990	4,830
Consumer excise taxes collected on behalf of third parties	(4,566)	(4,990)	(4,830)
Import duties and other levies	7	2	15
Property and other miscellaneous taxes	2,248	1,785	1,577
Payroll taxes	235	254	246
Taxes on production	317	355	325
Total taxes other than on income	2,807	2,396	2,163
International
Income Tax Authority [Line Items]
Excise and similar taxes on products and merchandise	2,367	2,801	3,031
Consumer excise taxes collected on behalf of third parties	(2,367)	(2,801)	(3,031)
Import duties and other levies	39	35	37
Property and other miscellaneous taxes	1,461	1,435	2,370
Payroll taxes	117	125	132
Taxes on production	75	145	165
Total taxes other than on income	$ 1,692	$ 1,740	$ 2,704

Properties, Plant and Equipme_3

Properties, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Properties, Plant and Equipment
Gross Investment at Cost	$ 345,232	$ 326,722
Gross Investment at Cost			$ 340,244
Net Investment	156,618	150,494
Net Investment			169,207
Additions at Cost	25,546	13,555	13,066
Depreciation Expense	19,508	29,218	19,419
Dry hole expense related to prior years expenditures, net	709	49	343
Accretion expense	560	628	654
Impairment charges	2,792	10,797	735
Noble
Properties, Plant and Equipment
Gross Investment at Cost	16,703
Net Investment	16,703
Additions at Cost	16,703
United States
Properties, Plant and Equipment
Gross Investment at Cost	127,249	112,804
Gross Investment at Cost			117,507
Net Investment	51,192	44,716
Net Investment			52,550
Additions at Cost	13,899	9,527	7,917
Depreciation Expense	8,095	16,334	6,399
International
Properties, Plant and Equipment
Gross Investment at Cost	217,983	213,918
Gross Investment at Cost			222,737
Net Investment	105,426	105,778
Net Investment			116,657
Additions at Cost	11,647	4,028	5,149
Depreciation Expense	11,413	12,884	13,020
Australia
Properties, Plant and Equipment
Net Investment	48,060	51,359
Net Investment			53,768
Operating Segments \| Upstream
Properties, Plant and Equipment
Gross Investment at Cost	306,401	288,409
Gross Investment at Cost			303,484
Net Investment	140,185	133,721
Net Investment			153,129
Additions at Cost	24,136	11,415	11,299
Depreciation Expense	17,962	27,840	18,054
Operating Segments \| Upstream \| United States
Properties, Plant and Equipment
Gross Investment at Cost	96,555	82,117
Gross Investment at Cost			88,155
Net Investment	38,175	31,082
Net Investment			39,526
Additions at Cost	13,067	7,751	6,434
Depreciation Expense	6,841	15,222	5,328
Operating Segments \| Upstream \| International
Properties, Plant and Equipment
Gross Investment at Cost	209,846	206,292
Gross Investment at Cost			215,329
Net Investment	102,010	102,639
Net Investment			113,603
Additions at Cost	11,069	3,664	4,865
Depreciation Expense	11,121	12,618	12,726
Operating Segments \| Downstream
Properties, Plant and Equipment
Gross Investment at Cost	34,492	33,448
Gross Investment at Cost			31,922
Net Investment	14,496	14,512
Net Investment			13,861
Additions at Cost	1,211	1,807	1,537
Depreciation Expense	1,134	1,125	1,033
Operating Segments \| Downstream \| United States
Properties, Plant and Equipment
Gross Investment at Cost	26,499	25,968
Gross Investment at Cost			24,685
Net Investment	11,101	11,398
Net Investment			10,838
Additions at Cost	638	1,452	1,259
Depreciation Expense	851	869	751
Operating Segments \| Downstream \| International
Properties, Plant and Equipment
Gross Investment at Cost	7,993	7,480
Gross Investment at Cost			7,237
Net Investment	3,395	3,114
Net Investment			3,023
Additions at Cost	573	355	278
Depreciation Expense	283	256	282
Segment Reconciling Items
Properties, Plant and Equipment
Gross Investment at Cost	4,339	4,865
Gross Investment at Cost			4,838
Net Investment	1,937	2,261
Net Investment			2,217
Additions at Cost	199	333	230
Depreciation Expense	412	253	332
Segment Reconciling Items \| United States
Properties, Plant and Equipment
Gross Investment at Cost	4,195	4,719
Gross Investment at Cost			4,667
Net Investment	1,916	2,236
Net Investment			2,186
Additions at Cost	194	324	224
Depreciation Expense	403	243	320
Segment Reconciling Items \| International
Properties, Plant and Equipment
Gross Investment at Cost	144	146
Gross Investment at Cost			171
Net Investment	21	25
Net Investment			31
Additions at Cost	5	9	6
Depreciation Expense	$ 9	$ 10	$ 12

Short-Term Debt - Summary (Deta

Short-Term Debt - Summary (Details) - USD ($) $ in Millions	12 Months Ended
Short-Term Debt - Summary (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Short term borrowings
Commercial paper	$ 5,612	$ 4,654
Notes payable to banks and others with originating terms of one year or less	15	228
Current maturities of long-term debt	2,600	5,054
Current maturities of long-term finance leases	186	18
Redeemable long term obligations - Long-term debt	2,960	3,078
Subtotal	11,373	13,032
Reclassified to long-term debt	(9,825)	(9,750)
Total short-term debt	$ 1,548	$ 3,282
Weighted-average interest rate	0.15%	1.69%

Short-Term Debt - Narrative (De

Short-Term Debt - Narrative (Details) - USD ($)	12 Months Ended
Short-Term Debt - Narrative (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Committed credit facilities	$ 9,825,000,000
Debt instrument, term	364 days
Outstanding amount	$ 0
Reclassified to long-term debt	$ 9,825,000,000	$ 9,750,000,000

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	Jan. 06, 2021	Dec. 31, 2020	Dec. 31, 2019	Oct. 05, 2020	Aug. 31, 2020	May 31, 2020
Debt Instrument [Line Items]
Long-term debt instruments		$ 33,507,000,000	$ 18,730,000,000
Debt due within one year		(2,600,000,000)	(5,054,000,000)
Fair market valuation adjustment of Noble long-term debt		1,690,000,000	0
Reclassified from short-term debt		9,825,000,000	9,750,000,000
Unamortized discounts and debt issuance costs		(102,000,000)	(17,000,000)
Finance lease liabilities		447,000,000	282,000,000
Total long-term debt		42,767,000,000	23,691,000,000
Long-term Debt, Fiscal Year Maturity [Abstract]
2021		2,600,000,000
2022		5,548,000,000
2023		6,475,000,000
2024		1,650,000,000
2025		4,000,000,000
Thereafter		13,234,000,000
Noble
Debt Instrument [Line Items]
Long-term debt instruments				$ 5,800,000,000
Total long-term debt		$ 9,400,000,000
Noble \| Subsequent Event
Debt Instrument [Line Items]
Total long-term debt	$ 5,697,000,000
Long-term Debt, Fiscal Year Maturity [Abstract]
Extinguishment of debt	5,697,000,000
Notes
Long-term Debt, Fiscal Year Maturity [Abstract]
Debt issued					$ 4,000,000,000	$ 8,000,000,000
Notes \| Noble \| Subsequent Event
Debt Instrument [Line Items]
Long-term debt instruments	$ 103,000,000
Notes \| Minimum \| Noble
Debt Instrument [Line Items]
Interest rate				3.25%
Notes \| Maximum \| Noble
Debt Instrument [Line Items]
Interest rate				8.00%
Notes \| Notes due 2021
Debt Instrument [Line Items]
Interest rate		2.10%
Long-term debt instruments		$ 1,350,000,000	1,350,000,000
Notes \| Notes due 2022
Debt Instrument [Line Items]
Weighted Average Interest Rate		2.179%
Long-term debt instruments		$ 3,800,000,000	3,400,000,000
Notes \| Notes due 2022 \| Minimum
Debt Instrument [Line Items]
Interest rate		0.333%
Notes \| Notes due 2022 \| Maximum
Debt Instrument [Line Items]
Interest rate		2.498%
Notes \| Notes due 2023
Debt Instrument [Line Items]
Weighted Average Interest Rate		2.377%
Long-term debt instruments		$ 4,800,000,000	3,000,000,000
Notes \| Notes due 2023 \| Minimum
Debt Instrument [Line Items]
Interest rate		0.426%
Notes \| Notes due 2023 \| Maximum
Debt Instrument [Line Items]
Interest rate		7.25%
Notes \| Notes due 2024
Debt Instrument [Line Items]
Weighted Average Interest Rate		3.291%
Long-term debt instruments		$ 1,650,000,000	1,000,000,000
Notes \| Notes due 2024 \| Minimum
Debt Instrument [Line Items]
Interest rate		2.895%
Notes \| Notes due 2024 \| Maximum
Debt Instrument [Line Items]
Interest rate		3.90%
Notes \| Notes due 2025
Debt Instrument [Line Items]
Weighted Average Interest Rate		1.724%
Long-term debt instruments		$ 4,000,000,000	750,000,000
Notes \| Notes due 2025 \| Minimum
Debt Instrument [Line Items]
Interest rate		0.687%
Notes \| Notes due 2025 \| Maximum
Debt Instrument [Line Items]
Interest rate		3.326%
Notes \| Notes due 2026
Debt Instrument [Line Items]
Interest rate		2.954%
Long-term debt instruments		$ 2,250,000,000	2,250,000,000
Notes \| Notes due 2027
Debt Instrument [Line Items]
Weighted Average Interest Rate		2.379%
Long-term debt instruments		$ 2,000,000,000	0
Notes \| Notes due 2027 \| Minimum
Debt Instrument [Line Items]
Interest rate		1.018%
Notes \| Notes due 2027 \| Maximum
Debt Instrument [Line Items]
Interest rate		8.00%
Notes \| Notes due 2028
Debt Instrument [Line Items]
Interest rate		3.85%
Long-term debt instruments		$ 600,000,000	0
Notes \| Notes due 2029
Debt Instrument [Line Items]
Interest rate		3.25%
Long-term debt instruments		$ 500,000,000	0
Notes \| Notes due 2030
Debt Instrument [Line Items]
Interest rate		2.236%
Long-term debt instruments		$ 1,500,000,000	0
Notes \| Notes due 2040
Debt Instrument [Line Items]
Interest rate		2.978%
Long-term debt instruments		$ 500,000,000	0
Notes \| Notes due 2041
Debt Instrument [Line Items]
Interest rate		6.00%
Long-term debt instruments		$ 850,000,000	0
Notes \| Notes due 2043
Debt Instrument [Line Items]
Interest rate		5.25%
Long-term debt instruments		$ 1,000,000,000	0
Notes \| Notes due 2044
Debt Instrument [Line Items]
Interest rate		5.05%
Long-term debt instruments		$ 850,000,000	0
Notes \| Notes due 2047
Debt Instrument [Line Items]
Interest rate		4.95%
Long-term debt instruments		$ 500,000,000	0
Notes \| Notes due 2049
Debt Instrument [Line Items]
Interest rate		4.20%
Long-term debt instruments		$ 500,000,000	0
Notes \| Notes due 2050
Debt Instrument [Line Items]
Weighted Average Interest Rate		2.763%
Long-term debt instruments		$ 1,750,000,000	0
Notes \| Notes due 2050 \| Minimum
Debt Instrument [Line Items]
Interest rate		2.343%
Notes \| Notes due 2050 \| Maximum
Debt Instrument [Line Items]
Interest rate		3.078%
Notes \| Notes due 2020
Debt Instrument [Line Items]
Long-term debt instruments		$ 0	5,054,000,000
Floating Rate Notes \| Floating rate notes due 2021
Debt Instrument [Line Items]
Weighted Average Interest Rate		0.913%
Long-term debt instruments		$ 650,000,000	650,000,000
Floating Rate Notes \| Floating rate notes due 2021 \| Minimum
Debt Instrument [Line Items]
Interest rate		0.751%
Floating Rate Notes \| Floating rate notes due 2021 \| Maximum
Debt Instrument [Line Items]
Interest rate		1.171%
Floating Rate Notes \| Floating rate notes due 2022
Debt Instrument [Line Items]
Weighted Average Interest Rate		0.594%
Long-term debt instruments		$ 1,000,000,000	650,000,000
Floating Rate Notes \| Floating rate notes due 2022 \| Minimum
Debt Instrument [Line Items]
Interest rate		0.324%
Floating Rate Notes \| Floating rate notes due 2022 \| Maximum
Debt Instrument [Line Items]
Interest rate		0.762%
Floating Rate Notes \| Floating rate notes due 2023
Debt Instrument [Line Items]
Weighted Average Interest Rate		0.676%
Long-term debt instruments		$ 800,000,000	0
Floating Rate Notes \| Floating rate notes due 2023 \| Minimum
Debt Instrument [Line Items]
Interest rate		0.414%
Floating Rate Notes \| Floating rate notes due 2023 \| Maximum
Debt Instrument [Line Items]
Interest rate		1.114%
Debentures \| Debentures due 2021
Debt Instrument [Line Items]
Interest rate		8.875%
Long-term debt instruments		$ 40,000,000	40,000,000
Debentures \| Debentures due 2031
Debt Instrument [Line Items]
Interest rate		8.625%
Long-term debt instruments		$ 108,000,000	108,000,000
Debentures \| Debentures due 2032
Debt Instrument [Line Items]
Weighted Average Interest Rate		8.414%
Long-term debt instruments		$ 222,000,000	222,000,000
Debentures \| Debentures due 2032 \| Minimum
Debt Instrument [Line Items]
Interest rate		8.00%
Debentures \| Debentures due 2032 \| Maximum
Debt Instrument [Line Items]
Interest rate		8.625%
Debentures \| Debentures due 2097
Debt Instrument [Line Items]
Interest rate		7.25%
Long-term debt instruments		$ 84,000,000	0
Debentures \| 7.25% Notes
Debt Instrument [Line Items]
Interest rate		7.25%
Loans \| Bank loans due 2021 - 2023
Debt Instrument [Line Items]
Weighted Average Interest Rate		1.53%
Long-term debt instruments		$ 1,948,000,000	0
Loans \| Bank loans due 2021 - 2023 \| Minimum
Debt Instrument [Line Items]
Interest rate		1.24%
Loans \| Bank loans due 2021 - 2023 \| Maximum
Debt Instrument [Line Items]
Interest rate		2.004%
Loans \| 3.400% loan
Debt Instrument [Line Items]
Interest rate		3.40%
Long-term debt instruments		$ 218,000,000	218,000,000
Medium-term Notes \| Medium-term notes, maturing from 2021 to 2038
Debt Instrument [Line Items]
Weighted Average Interest Rate		6.131%
Long-term debt instruments		$ 37,000,000	$ 38,000,000
Medium-term Notes \| Medium-term notes, maturing from 2021 to 2038 \| Minimum
Debt Instrument [Line Items]
Interest rate		0.00%
Medium-term Notes \| Medium-term notes, maturing from 2021 to 2038 \| Maximum
Debt Instrument [Line Items]
Interest rate		8.875%

Accounting for Suspended Expl_3

Accounting for Suspended Exploratory Wells - Summary of Changes and Aging of Capitalized Well Costs (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020USD ($)Project	Dec. 31, 2019USD ($)Project	Dec. 31, 2018USD ($)Project
Changes in company's suspended exploratory well costs
Beginning balance at January 1	$ 3,041	$ 3,563	$ 3,702
Additions to capitalized exploratory well costs pending the determination of proved reserves	28	244	207
Reclassifications to wells, facilities and equipment based on the determination of proved reserves	(102)	(500)	(13)
Capitalized exploratory well costs charged to expense	(667)	(125)	(333)
Other reductions	212	(141)	0
Ending balance at December 31	2,512	3,041	3,563
Aging of capitalized well costs and number of project
Exploratory well costs capitalized for a period of one year or less				$ 26	$ 214	$ 202
Exploratory well costs capitalized for a period greater than one year				2,486	2,827	3,361
Balance at December 31	$ 3,041	$ 3,041	$ 3,563	$ 2,512	$ 3,041	$ 3,563
Number of projects with exploratory well costs that have been capitalized for a period greater than one year (in projects) \| Project				17	22	30

Accounting for Suspended Expl_4

Accounting for Suspended Exploratory Wells - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)ProjectWell	Dec. 31, 2019USD ($)Project	Dec. 31, 2018USD ($)Project
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year \| $	$ 2,486	$ 2,827	$ 3,361
Number of projects with exploratory well costs that have been capitalized for a period greater than one year (in projects) \| Project	17	22	30
Expected period for decision on the recognition of proved reserves	5 years
Capitalized exploratory well costs that have been capitalized for period greater than one year, number of wells \| Well	89
Drilling Activity
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year \| $	$ 1,197
Number of projects with exploratory well costs that have been capitalized for a period greater than one year (in projects) \| Project	7
No Drilling Activity
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year \| $	$ 1,289
Number of projects with exploratory well costs that have been capitalized for a period greater than one year (in projects) \| Project	10
Undergoing Front End Engineering and Design with Final Investment Decision Expected
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year \| $	$ 826
Number of projects with exploratory well costs that have been capitalized for a period greater than one year (in projects) \| Project	7
Undergoing front-end engineering and design with final investment decision expected in three years	4 years
Reviewing Development Alternatives
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year \| $	$ 463
Number of projects with exploratory well costs that have been capitalized for a period greater than one year (in projects) \| Project	3

Accounting for Suspended Expl_5

Accounting for Suspended Exploratory Wells - Aging of Costs on a Well and Project Basis (Details) $ in Millions	Dec. 31, 2020USD ($)ProjectWell	Dec. 31, 2019USD ($)Project	Dec. 31, 2018USD ($)Project
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	$ 2,486	$ 2,827	$ 3,361
Capitalized exploratory well costs that have been capitalized for period greater than one year, number of wells \| Well	89
Number of projects (in projects) \| Project	17	22	30
2000-2009
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	$ 342
Capitalized exploratory well costs that have been capitalized for period greater than one year, number of wells \| Well	17
2010-2014
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	$ 1,457
Capitalized exploratory well costs that have been capitalized for period greater than one year, number of wells \| Well	54
2015-2019
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	$ 687
Capitalized exploratory well costs that have been capitalized for period greater than one year, number of wells \| Well	18
2003-2012
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	$ 371
Number of projects (in projects) \| Project	4
2013-2016
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	$ 1,627
Number of projects (in projects) \| Project	8
2017-2020
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year	$ 488
Number of projects (in projects) \| Project	5

Stock Options and Other Share_3

Stock Options and Other Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	Oct. 05, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense for stock options		$ 94	$ 81	$ 105
After tax compensation expense for stock options		74	64	83
Compensation expense for stock appreciation rights restricted stock performance units and restricted stock units		96	313	60
Compensation expense for stock appreciation rights, restricted stock, performance units and restricted stock units, after tax		76	266	47
Cash received in payment for option exercises		226	1,090	1,159
Tax benefits realized for the tax deductions from option exercises		8	43	43
Cash paid to settle performance units and stock appreciation rights		$ 95	119	157
Maximum number of share that may be issued under LTIP (in shares)		644,376
Total intrinsic value options exercised		$ 92	$ 516	$ 506
Total before-tax compensation cost related to nonvested share-based compensation arrangements		$ 57
Weighted-average period of recognition of unrecognized compensation cost related to nonvested share-based compensation arrangements		1 year 8 months 12 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)		3,303,933			2,512,345
Shares granted (in shares)		1,253,337
Shares vested (in shares)			165,007
Shares forfeited (in shares)			296,742
Shares vested, fair value		$ 197
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)		4,434,797			4,386,784
Shares granted (in shares)		2,064,598
Shares vested (in shares)		676,282
Shares forfeited (in shares)		1,340,303
Shares vested, fair value		$ 385
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)		4,100,000
Shares vested, fair value		$ 34
Noble, Change-in-Control Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash paid to settle performance units and stock appreciation rights		$ 11
Chevron Long-Term Incentive Plan (LTIP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of share that may be issued under LTIP (in shares)		67,000,000
For awards issued on or after May 29, 2013, the maximum number of shares that may be in a form other than a stock option, stock appreciation right or award requiring full payment for shares by the award recipient (in shares)		50,000,000
Chevron Long-Term Incentive Plan (LTIP) \| Maximum \| From April 2004 through May 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of share that may be issued under LTIP (in shares)		260,000,000
Chevron Long-Term Incentive Plan (LTIP) \| Performance Shares and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award contractual term (in years)		3 years
Chevron Long-Term Incentive Plan (LTIP) \| Stock Options and Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award contractual term (in years)		10 years
Chevron Long-Term Incentive Plan (LTIP), 2017 Issuance \| Performance Shares and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award contractual term (in years)		3 years
Chevron Long-Term Incentive Plan (LTIP), 2017 Issuance \| Stock Options and Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award contractual term (in years)		10 years
Chevron Long-Term Incentive Plan (LTIP), 2017 Issuance \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award contractual term (in years)		5 years
Noble Share-Based Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exchange ratio due to acquisition	11.91%
Exercisable period	5 years

Stock Options and Other Share_4

Stock Options and Other Share-Based Compensation - Summary of Valuation Assumptions and Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock Option
Expected term in years	6 years 7 months 6 days	6 years 7 months 6 days	6 years 6 months
Volatility	20.80%	20.50%	21.20%
Risk-free interest rate based on zero coupon U.S. treasury note	1.50%	2.60%	2.60%
Dividend yield	4.00%	3.80%	3.80%
Weighted-average fair value per option granted (in dollars per share)	$ 13	$ 15.82	$ 18.18
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)	86,641
Shares, Granted (in shares)	8,281
Shares, Exercised (in shares)	(2,739)
Shares, Forfeited (in shares)	(2,033)
Outstanding, ending balance (in shares)	90,150	86,641
Shares, Exercisable at December 31 (in shares)	80,860
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted-Average Exercise Price, Outstanding at January 1 (in dollars per share)	$ 103.22
Weighted-Average Exercise Price, Granted (in dollars per share)	150.98
Weighted-Average Exercise Price, Exercised (in dollars per share)	78.92
Weighted-Average Exercise Price, Forfeited (in dollars per share)	110.72
Weighted-Average Exercise Price, Outstanding at December 31 (in dollars per share)	108.17	$ 103.22
Weighted-Average Exercise Price, Exercisable at December 31 (in dollars per share)	$ 107.65
Average Remaining Contractual Term, Outstanding at December 31 (in years)	4 years 1 month 9 days
Average Remaining Contractual Term, Exercisable at December 31 (in years)	3 years 7 months 2 days
Aggregate Intrinsic Value, Outstanding at December 31	$ 23
Aggregate Intrinsic Value, Exercisable at December 31	$ 23

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Maximum annual increase percentage to company contribution for retiree medical coverage	4.00%
Funded Status:
Amounts recognized on a before-tax bases in "Accumulated other comprehensive loss" for the company's pension and other postretirement benefit plans	$ 7,278	$ 6,357
Other Benefit Assumptions:
Assumed health care cost-trend rates in the next fiscal year	6.10%	6.80%
Ultimate trend rate for health care cost	4.50%	4.50%
Primary Investment:
Company's US and UK pension plans as a percentage of total pension assets	91.00%
Benefit Plan Trusts:
Number of Chevron treasury stocks held in benefit plan trust for funding obligations	14,168,000	14,168,000	14,168,000	14,168,000
Various grantor trust assets invested primarily in interest earning accounts	$ 36	$ 35
Employee Incentive Plan
Charges to expense for cash bonuses	462	826	$ 1,048
Other Benefits
Funded Status:
Amounts recognized on a before-tax bases in "Accumulated other comprehensive loss" for the company's pension and other postretirement benefit plans	$ 74	$ (154)
Discount Rate:
Discount rate for pension plans	2.60%	3.20%	4.40%
Cash Contributions and Benefit Payments:
Contributions to employee pension plans	$ 155	$ 168
Estimated contributions to employee pension plans for the next fiscal year	153
ESIP
Employee Savings Investment Plan:
Compensation expense	$ 281	$ 284	$ 270
U.S.
Expected Return on Plan Assets:
Estimated long-term rate of return on US pension plan assets	6.50%	6.75%	6.75%
Cash Contributions and Benefit Payments:
Contributions to employee pension plans	$ 950
Estimated contributions to employee pension plans for the next fiscal year	1,050
U.S. \| Pension Benefits
Funded Status:
Amounts recognized on a before-tax bases in "Accumulated other comprehensive loss" for the company's pension and other postretirement benefit plans	5,717	$ 5,140
Accumulated benefit obligations pension plans	$ 13,608	$ 12,781
Expected Return on Plan Assets:
Estimated long-term rate of return on US pension plan assets	6.50%	6.80%	6.80%
Percentage of US pension plan assets relative to total pension plan assets	65.00%
Plan asset market valuation period, prior to year-end measurement date	3 months
Discount Rate:
Discount rate for pension plans	2.40%	3.10%	4.20%
Cash Contributions and Benefit Payments:
Contributions to employee pension plans	$ 950	$ 1,096
U.S. \| Pension Benefits \| Equities \| Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	40.00%
U.S. \| Pension Benefits \| Equities \| Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	65.00%
U.S. \| Pension Benefits \| Fixed Income and Cash \| Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	20.00%
U.S. \| Pension Benefits \| Fixed Income and Cash \| Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	40.00%
U.S. \| Pension Benefits \| Real Estate \| Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	0.00%
U.S. \| Pension Benefits \| Real Estate \| Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	15.00%
U.S. \| Pension Benefits \| Other \| Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	0.00%
U.S. \| Pension Benefits \| Other \| Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	5.00%
U.S. \| Pension Benefits \| Cash \| Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	0.00%
U.S. \| Pension Benefits \| Cash \| Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	25.00%
U.S. \| Other Benefits
Discount Rate:
Discount rate for pension plans	2.40%	3.10%	4.30%
Int’l.
Cash Contributions and Benefit Payments:
Contributions to employee pension plans	$ 263
Estimated contributions to employee pension plans for the next fiscal year	200
Int’l. \| Pension Benefits
Funded Status:
Amounts recognized on a before-tax bases in "Accumulated other comprehensive loss" for the company's pension and other postretirement benefit plans	1,487	$ 1,371
Accumulated benefit obligations pension plans	$ 5,758	$ 5,203
Expected Return on Plan Assets:
Estimated long-term rate of return on US pension plan assets	4.50%	5.60%	5.50%
Discount Rate:
Discount rate for pension plans	2.40%	3.20%	4.40%
Cash Contributions and Benefit Payments:
Contributions to employee pension plans	$ 263	$ 266
UNITED KINGDOM \| Pension Benefits \| Equities \| Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	10.00%
UNITED KINGDOM \| Pension Benefits \| Equities \| Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	30.00%
UNITED KINGDOM \| Pension Benefits \| Fixed Income and Cash \| Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	55.00%
UNITED KINGDOM \| Pension Benefits \| Fixed Income and Cash \| Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	85.00%
UNITED KINGDOM \| Pension Benefits \| Real Estate \| Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	5.00%
UNITED KINGDOM \| Pension Benefits \| Real Estate \| Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	15.00%
UNITED KINGDOM \| Pension Benefits \| Cash \| Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	0.00%
UNITED KINGDOM \| Pension Benefits \| Cash \| Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	5.00%

Employee Benefit Plans - Summar

Employee Benefit Plans - Summary of Change in Benefit Obligation and Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
U.S.
Change in Plan Assets
Fair value of plan assets at January 1	$ 10,177
Employer contributions	950
Fair value of plan assets at December 31	9,930	$ 10,177
Int’l.
Change in Plan Assets
Fair value of plan assets at January 1	4,791
Employer contributions	263
Fair value of plan assets at December 31	5,363	4,791
Pension Benefits \| U.S.
Change in Benefit Obligation
Benefit obligation at January 1	14,465	11,726
Service cost	497	406	$ 480
Interest cost	353	397	370
Plan participants’ contributions	0	0
Plan amendments	0	0
Actuarial (gain) loss	1,782	2,922
Foreign currency exchange rate changes	0	0
Benefits paid	(2,045)	(1,035)
Curtailment	92	0
Acquisitions	22	49
Benefit obligation at December 31	15,166	14,465	11,726
Change in Plan Assets
Fair value of plan assets at January 1	10,177	8,532
Actual return on plan assets	848	1,548
Foreign currency exchange rate changes	0	0
Employer contributions	950	1,096
Plan participants’ contributions	0	0
Benefits paid	(2,045)	(1,035)
Acquisitions	0	36
Fair value of plan assets at December 31	9,930	10,177	8,532
Funded status at December 31	(5,236)	(4,288)
Pension Benefits \| Int’l.
Change in Benefit Obligation
Benefit obligation at January 1	5,680	4,820
Service cost	130	139	141
Interest cost	175	199	206
Plan participants’ contributions	3	4
Plan amendments	0	29
Actuarial (gain) loss	550	673
Foreign currency exchange rate changes	158	121
Benefits paid	(368)	(302)
Curtailment	(21)	(3)
Acquisitions	0	0
Benefit obligation at December 31	6,307	5,680	4,820
Change in Plan Assets
Fair value of plan assets at January 1	4,791	4,142
Actual return on plan assets	500	566
Foreign currency exchange rate changes	174	115
Employer contributions	263	266
Plan participants’ contributions	3	4
Benefits paid	(368)	(302)
Acquisitions	0	0
Fair value of plan assets at December 31	5,363	4,791	4,142
Funded status at December 31	(944)	(889)
Other Benefits
Change in Benefit Obligation
Benefit obligation at January 1	2,520	2,430
Service cost	38	36	42
Interest cost	71	96	94
Plan participants’ contributions	59	72
Plan amendments	0	0
Actuarial (gain) loss	191	125
Foreign currency exchange rate changes	(1)	2
Benefits paid	(214)	(240)
Curtailment	(14)	0
Divestitures	0	(1)
Benefit obligation at December 31	2,650	2,520	2,430
Change in Plan Assets
Fair value of plan assets at January 1	0	0
Actual return on plan assets	0	0
Foreign currency exchange rate changes	0	0
Employer contributions	155	168
Plan participants’ contributions	59	72
Benefits paid	(214)	(240)
Divestitures	0	0
Fair value of plan assets at December 31	0	0	$ 0
Funded status at December 31	$ (2,650)	$ (2,520)

Employee Benefit Plans - Summ_2

Employee Benefit Plans - Summary of Balance Sheet Components (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Consolidated Balance Sheet for pension and other postretirement benefit plans
Noncurrent employee benefit plans	$ (9,217)	$ (7,866)
Pension Benefits \| U.S.
Consolidated Balance Sheet for pension and other postretirement benefit plans
Deferred charges and other assets	24	23
Accrued liabilities	(258)	(239)
Noncurrent employee benefit plans	(5,002)	(4,072)
Net amount recognized at December 31	(5,236)	(4,288)
Pension Benefits \| Int’l.
Consolidated Balance Sheet for pension and other postretirement benefit plans
Deferred charges and other assets	547	413
Accrued liabilities	(76)	(71)
Noncurrent employee benefit plans	(1,415)	(1,231)
Net amount recognized at December 31	(944)	(889)
Other Benefits
Consolidated Balance Sheet for pension and other postretirement benefit plans
Deferred charges and other assets	0	0
Accrued liabilities	(153)	(174)
Noncurrent employee benefit plans	(2,497)	(2,346)
Net amount recognized at December 31	$ (2,650)	$ (2,520)

Employee Benefit Plans - Amount

Employee Benefit Plans - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Before tax basis amount in accumulated other comprehensive loss.
Total recognized at December 31	$ 7,278	$ 6,357
Other Benefits
Before tax basis amount in accumulated other comprehensive loss.
Net actuarial loss	260	74
Prior service (credit) costs	(186)	(228)
Total recognized at December 31	74	(154)
U.S. \| Pension Benefits
Before tax basis amount in accumulated other comprehensive loss.
Net actuarial loss	5,714	5,135
Prior service (credit) costs	3	5
Total recognized at December 31	5,717	5,140
Int’l. \| Pension Benefits
Before tax basis amount in accumulated other comprehensive loss.
Net actuarial loss	1,401	1,269
Prior service (credit) costs	86	102
Total recognized at December 31	$ 1,487	$ 1,371

Employee Benefit Plans - Accumu

Employee Benefit Plans - Accumulated Benefit Obligation in Excess of Plan Assets (Details) - Pension Benefits - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
U.S.
Pension Plans With Accumulated Benefit Obligation in Excess of Plan Assets
Projected benefit obligations	$ 15,103	$ 14,401
Accumulated benefit obligations	13,545	12,718
Fair value of plan assets	9,842	10,091
Int’l.
Pension Plans With Accumulated Benefit Obligation in Excess of Plan Assets
Projected benefit obligations	2,084	1,554
Accumulated benefit obligations	1,622	1,268
Fair value of plan assets	$ 600	$ 278

Employee Benefit Plans - Net Pe

Employee Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Changes Recognized in Comprehensive Income
Net actuarial (gain) loss during period	$ 2,004	$ 2,404	$ (85)
Amortization of actuarial loss	(1,107)	(519)	(792)
Prior service (credits) costs during period	0	28	26
Amortization of prior service (costs) credits	23	(4)	13
Other Benefits
Net Periodic Benefit Cost
Service cost	38	36	42
Interest cost	71	96	94
Expected return on plan assets	0	0	0
Amortization of prior service costs (credits)	(28)	(28)	(28)
Recognized actuarial losses	3	(3)	15
Settlement losses	0	0	0
Curtailment losses (gains)	(27)	0	0
Total net periodic benefit cost	57	101	123
Changes Recognized in Comprehensive Income
Net actuarial (gain) loss during period	190	128	(248)
Amortization of actuarial loss	(4)	3	(15)
Prior service (credits) costs during period	0	(1)	3
Amortization of prior service (costs) credits	42	28	28
Total changes recognized in other comprehensive income	228	158	(232)
Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	285	259	(109)
U.S. \| Pension Benefits
Net Periodic Benefit Cost
Service cost	497	406	480
Interest cost	353	397	370
Expected return on plan assets	(650)	(565)	(636)
Amortization of prior service costs (credits)	2	2	2
Recognized actuarial losses	385	239	304
Settlement losses	620	259	411
Curtailment losses (gains)	92	0	0
Total net periodic benefit cost	1,299	738	931
Changes Recognized in Comprehensive Income
Net actuarial (gain) loss during period	1,584	1,939	151
Amortization of actuarial loss	(1,005)	(498)	(715)
Prior service (credits) costs during period	0	0	0
Amortization of prior service (costs) credits	(2)	(2)	(2)
Total changes recognized in other comprehensive income	577	1,439	(566)
Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	1,876	2,177	365
Int’l. \| Pension Benefits
Net Periodic Benefit Cost
Service cost	130	139	141
Interest cost	175	199	206
Expected return on plan assets	(209)	(231)	(253)
Amortization of prior service costs (credits)	10	11	10
Recognized actuarial losses	45	21	29
Settlement losses	37	3	33
Curtailment losses (gains)	2	16	3
Total net periodic benefit cost	190	158	169
Changes Recognized in Comprehensive Income
Net actuarial (gain) loss during period	230	338	12
Amortization of actuarial loss	(98)	(24)	(62)
Prior service (credits) costs during period	0	29	23
Amortization of prior service (costs) credits	(17)	(30)	(13)
Total changes recognized in other comprehensive income	115	313	(40)
Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	$ 305	$ 471	$ 129

Employee Benefit Plans - Assump

Employee Benefit Plans - Assumptions (Details)	12 Months Ended
Employee Benefit Plans - Assumptions (Details)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Benefits
Assumptions used to determine benefit obligations:
Discount rate	2.60%	3.20%	4.40%
Assumptions used to determine net periodic benefit cost:
Discount rate for service cost	3.50%	4.60%	3.90%
Discount rate for interest cost	3.00%	4.20%	3.50%
U.S.
Assumptions used to determine net periodic benefit cost:
Expected return on plan assets	6.50%	6.75%	6.75%
U.S. \| Pension Benefits
Assumptions used to determine benefit obligations:
Discount rate	2.40%	3.10%	4.20%
Rate of compensation increase	4.50%	4.50%	4.50%
Assumptions used to determine net periodic benefit cost:
Discount rate for service cost	3.30%	4.40%	3.70%
Discount rate for interest cost	2.60%	3.70%	3.00%
Expected return on plan assets	6.50%	6.80%	6.80%
Rate of compensation increase	4.50%	4.50%	4.50%
U.S. \| Other Benefits
Assumptions used to determine benefit obligations:
Discount rate	2.40%	3.10%	4.30%
Int’l. \| Pension Benefits
Assumptions used to determine benefit obligations:
Discount rate	2.40%	3.20%	4.40%
Rate of compensation increase	4.00%	4.00%	4.00%
Assumptions used to determine net periodic benefit cost:
Discount rate for service cost	3.20%	4.40%	3.90%
Discount rate for interest cost	3.20%	4.40%	3.90%
Expected return on plan assets	4.50%	5.60%	5.50%
Rate of compensation increase	4.00%	4.00%	4.00%

Employee Benefit Plans - Plan A

Employee Benefit Plans - Plan Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	$ 93	$ 112	$ 129
U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	9,930	10,177
U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	4,747	4,002
U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,171	2,117
U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	44	51
U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	3,968	4,007
Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	5,363	4,791
Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,406	1,388
Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	798	715
Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	49	61
Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	3,110	2,627
U.S. \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	2,286	1,769
U.S. \| U.S. \| Company's Own Stock [Member]
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	4	6
U.S. \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	2,286	1,769
U.S. \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
U.S. \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
U.S. \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
U.S. \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	443	471
U.S. \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	443	471
U.S. \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
U.S. \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
U.S. \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
International \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1	1	1
International \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	2,211	1,958
International \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	2,210	1,958
International \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
International \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1	0
International \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
International \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	373	422
International \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	373	421
International \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
International \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	1
International \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,107	1,079
Collective Trusts/Mutual Funds \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	48	52
Collective Trusts/Mutual Funds \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,059	1,027
Collective Trusts/Mutual Funds \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	192	184
Collective Trusts/Mutual Funds \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	7	6
Collective Trusts/Mutual Funds \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	185	178
Government \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	231	523
Government \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Government \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	231	523
Government \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Government \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Government \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	240	265
Government \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	125	144
Government \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	115	121
Government \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Government \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Corporate \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	3	21
Corporate \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	778	1,444
Corporate \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Corporate \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	778	1,444
Corporate \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Corporate \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Corporate \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	578	493
Corporate \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	10	0
Corporate \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	568	490
Corporate \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	3
Corporate \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	2	7	5
Bank Loans \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	129	120
Bank Loans \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	127	113
Bank Loans \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	2	7
Bank Loans \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mortgage/Asset Backed \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1	1
Mortgage/Asset Backed \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mortgage/Asset Backed \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1	1
Mortgage/Asset Backed \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mortgage/Asset Backed \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mortgage/Asset Backed \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	4	4
Mortgage/Asset Backed \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mortgage/Asset Backed \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	4	4
Mortgage/Asset Backed \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mortgage/Asset Backed \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,901	963
Collective Trusts/Mutual Funds \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	13	0
Collective Trusts/Mutual Funds \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,888	963
Collective Trusts/Mutual Funds \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	2,520	2,230
Collective Trusts/Mutual Funds \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	4	5
Collective Trusts/Mutual Funds \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	2,516	2,225
Mixed Funds \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mixed Funds \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mixed Funds \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mixed Funds \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mixed Funds \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mixed Funds \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	127	84
Mixed Funds \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	38	7
Mixed Funds \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	89	77
Mixed Funds \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mixed Funds \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Real Estate \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	45	55	56
Real Estate \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,018	1,089
Real Estate \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Real Estate \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Real Estate \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Real Estate \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,018	1,089
Real Estate \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	448	277
Real Estate \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Real Estate \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Real Estate \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	45	55
Real Estate \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	403	222
Alternative Investments \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	924
Alternative Investments \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	924
Alternative Investments \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Cash and Cash Equivalents \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	221	235
Cash and Cash Equivalents \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	209	228
Cash and Cash Equivalents \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	12	7
Cash and Cash Equivalents \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Cash and Cash Equivalents \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Cash and Cash Equivalents \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	417	338
Cash and Cash Equivalents \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	408	334
Cash and Cash Equivalents \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	3	2
Cash and Cash Equivalents \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Cash and Cash Equivalents \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	6	2
Other \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	45	46	$ 46
Other \| U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	47	72
Other \| U.S. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	(19)	(5)
Other \| U.S. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	22	29
Other \| U.S. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	41	44
Other \| U.S. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	3	4
Other \| Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	21	23
Other \| Int’l. \| Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	(2)	0
Other \| Int’l. \| Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	19	21
Other \| Int’l. \| Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	4	2
Other \| Int’l. \| NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	$ 0	$ 0

Employee Benefit Plans - Summ_3

Employee Benefit Plans - Summary of Change in Assets Measured at Level 3 (Details) - Level 3 - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period are outlined below
Fair value of plan assets at January 1	$ 112	$ 129
Actual Return on Plan Assets:
Assets held at the reporting date	1	(1)
Assets sold during the period	(10)	0
Purchases, Sales and Settlements	(10)	(19)
Transfers in and/or out of Level 3	0	3
Fair value of plan assets at December 31	93	112
International
The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period are outlined below
Fair value of plan assets at January 1	1	1
Actual Return on Plan Assets:
Assets held at the reporting date	0	(1)
Assets sold during the period	0	0
Purchases, Sales and Settlements	0	0
Transfers in and/or out of Level 3	0	1
Fair value of plan assets at December 31	1	1
Corporate
The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period are outlined below
Fair value of plan assets at January 1	3	21
Actual Return on Plan Assets:
Assets held at the reporting date	0	1
Assets sold during the period	0	0
Purchases, Sales and Settlements	(3)	(19)
Transfers in and/or out of Level 3	0	0
Fair value of plan assets at December 31	0	3
Bank Loans
The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period are outlined below
Fair value of plan assets at January 1	7	5
Actual Return on Plan Assets:
Assets held at the reporting date	0	0
Assets sold during the period	0	0
Purchases, Sales and Settlements	(5)	0
Transfers in and/or out of Level 3	0	2
Fair value of plan assets at December 31	2	7
Real Estate
The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period are outlined below
Fair value of plan assets at January 1	55	56
Actual Return on Plan Assets:
Assets held at the reporting date	0	0
Assets sold during the period	(10)	0
Purchases, Sales and Settlements	0	(1)
Transfers in and/or out of Level 3	0	0
Fair value of plan assets at December 31	45	55
Other
The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period are outlined below
Fair value of plan assets at January 1	46	46
Actual Return on Plan Assets:
Assets held at the reporting date	1	(1)
Assets sold during the period	0	0
Purchases, Sales and Settlements	(2)	1
Transfers in and/or out of Level 3	0	0
Fair value of plan assets at December 31	$ 45	$ 46

Employee Benefit Plans - Expect

Employee Benefit Plans - Expected Benefit Payments (Details) $ in Millions	Dec. 31, 2020USD ($)
Other Benefits
Benefit payments, which include estimated future service, are expected to be paid by the company in the next 10years
2021	$ 153
2022	162
2023	158
2024	154
2025	151
2026-2030	706
U.S. \| Pension Benefits
Benefit payments, which include estimated future service, are expected to be paid by the company in the next 10years
2021	1,779
2022	919
2023	1,069
2024	1,097
2025	1,068
2026-2030	4,856
Int’l. \| Pension Benefits
Benefit payments, which include estimated future service, are expected to be paid by the company in the next 10years
2021	658
2022	220
2023	225
2024	243
2025	250
2026-2030	$ 1,400

Other Contingencies and Commi_2

Other Contingencies and Commitments (Details)	12 Months Ended
Other Contingencies and Commitments (Details)	Dec. 31, 2020USD ($)guarantylegal_matterLocation	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2009USD ($)
Guarantees
Number of guarantees \| guaranty	2
Guarantee for payments under terminal use agreements	$ 391,000,000
Idemnifications
Indemnifications acquirer environmental liabilities, maximum obligation				$ 200,000,000
Long-Term Unconditional Purchase Obligations and Commitments, Including Throughput and Take-or-Pay Agreements
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in 2021	1,000,000,000
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in 2022	1,200,000,000
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in 2023	1,300,000,000
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in 2024	1,300,000,000
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in 2025	1,400,000,000
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in 2026 and after	8,400,000,000
Total payments under long term unconditional purchase obligations and commitments including throughput and Take-or-Pay agreements	500,000,000	$ 800,000,000	$ 1,400,000,000
Environmental
Environmental reserve balance	$ 1,139,000,000
Sites with potential remediation activities (in sites) \| Location	145
Investments in equity affiliates	$ 39,052,000,000	$ 38,688,000,000
Sites with Potential Remediation Activities
Environmental
Environmental reserve	247,000,000
Environmental Reserve Less Environmental Reserve for Sites with Potential Remediation Activities
Environmental
Environmental reserve	892,000,000
Other Businesses
Environmental
Environmental reserve	1,000,000
Upstream
Environmental
Environmental reserve	233,000,000
United States \| Downstream
Environmental
Environmental reserve	611,000,000
International \| Downstream
Environmental
Environmental reserve	$ 47,000,000
Louisiana \| All Companies Served With Claim
Environmental
Pending lawsuits and claims (in number of claims) \| legal_matter	43
Louisiana \| Chevron USA Inc
Environmental
Pending lawsuits and claims (in number of claims) \| legal_matter	39
Financing Arrangement
Guarantees
Guarantee for payments under terminal use agreements	$ 137,000,000
Term of guarantee for payments under terminal use agreement (in years)	1 year
Affiliates
Guarantees
Guarantee for payments under terminal use agreements	$ 254,000,000
Term of guarantee for payments under terminal use agreement (in years)	7 years

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Company Before Tax Obligation
Balance at January 1	$ 12,832	$ 14,050	$ 14,214
Liabilities assumed in the Noble acquisition	630	0	0
Liabilities incurred	10	32	96
Liabilities settled	(1,661)	(1,694)	(830)
Accretion expense	560	628	654
Revisions in estimated cash flows	1,245	(184)	(84)
Balance at December 31	13,616	$ 12,832	$ 14,050
Long-term portion of the company's before-tax asset retirement obligations	$ 11,877

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Receivables	$ 7,631	$ 9,247

Other Financial Information (De

Other Financial Information (Details) - USD ($)	12 Months Ended
Other Financial Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Gains on sale of nonstrategic properties	$ 765,000,000	$ 1,500,000,000	$ 630,000,000
Goodwill	4,402,000,000	4,463,000,000
Total financing interest and debt costs	735,000,000	817,000,000	921,000,000
Less: Capitalized interest	38,000,000	19,000,000	173,000,000
Interest and debt expense	697,000,000	798,000,000	748,000,000
Research and development expenses	435,000,000	500,000,000	453,000,000
Excess of replacement cost over the carrying value of inventories (LIFO method)	2,749,000,000	4,513,000,000	5,134,000,000
LIFO profits (losses) on inventory drawdowns included in earnings	(147,000,000)	(9,000,000)	26,000,000
Foreign currency effects	(645,000,000)	(304,000,000)	611,000,000
Company share of equity affiliates foreign currency effects	(152,000,000)	(28,000,000)	416,000,000
Downstream
Business Acquisition [Line Items]
Gains on sale of nonstrategic properties	30,000,000	50,000,000	365,000,000
Upstream
Business Acquisition [Line Items]
Gains on sale of nonstrategic properties	735,000,000	1,450,000,000	265,000,000
Gain (loss) for impairments and other assets write-offs	4,800,000,000	$ 10,400,000,000	$ 2,000,000,000
Unocal \| Upstream
Business Acquisition [Line Items]
Goodwill	4,402,000,000
Goodwill impairment loss	$ 0

Summarized Financial Data _ C_3

Summarized Financial Data – Chevron Phillips Chemical Company LLC - Summary of Income Statement Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsidiary Statements Captions [Line Items]
Percentage of affiliate by summarized financial information	100.00%
Summarized Financial Data - Chevron Transport Corporation
Total costs and other deductions	$ 102,145	$ 140,980	$ 145,764
Net Income (Loss) Attributable to Chevron Corporation	$ (5,543)	2,924	14,824
Chevron Phillips Chemical Company LLC
Subsidiary Statements Captions [Line Items]
Percentage of affiliate by summarized financial information	100.00%
Summarized Financial Data - Chevron Transport Corporation
Total costs and other deductions	$ 7,221	7,863	9,812
Net Income (Loss) Attributable to Chevron Corporation	1,260	1,760	2,069
Chevron Phillips Chemical Company LLC \| Oil and Gas
Summarized Financial Data - Chevron Transport Corporation
Sales and other operating revenues	$ 8,407	$ 9,333	$ 11,310
Chevron Phillips Chemical Company LLC
Subsidiary Statements Captions [Line Items]
Equity method investment, ownership percentage	50.00%

Summarized Financial Data _ C_4

Summarized Financial Data – Chevron Phillips Chemical Company LLC - Summary of Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Subsidiary Statements Captions [Line Items]
Current assets	$ 26,078	$ 28,329
Current liabilities	22,183	26,530
Total CTC net deficit	132,726	145,208	$ 155,642	$ 149,319
Chevron Phillips Chemical Company LLC
Subsidiary Statements Captions [Line Items]
Current assets	2,816	2,554
Other assets	14,210	14,314
Current liabilities	1,394	1,247
Other liabilities	3,380	3,174
Total CTC net deficit	$ 12,252	$ 12,447

Restructuring and Reorganizat_3

Restructuring and Reorganization Costs (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 859
Restructuring charges, after tax	670
Restructuring Reserve [Roll Forward]
Balance at January 1, 2020	7
Accruals/Adjustments	859
Payments	(396)
Balance at December 31, 2020	470
Operating Segments \| United States \| Upstream
Restructuring Cost and Reserve [Line Items]
Restructuring charges	127
Restructuring charges, after tax	97
Operating Segments \| United States \| Downstream
Restructuring Cost and Reserve [Line Items]
Restructuring charges	112
Restructuring charges, after tax	85
Operating Segments \| International \| Upstream
Restructuring Cost and Reserve [Line Items]
Restructuring charges	288
Restructuring charges, after tax	228
Operating Segments \| International \| Downstream
Restructuring Cost and Reserve [Line Items]
Restructuring charges	69
Restructuring charges, after tax	54
Segment Reconciling Items
Restructuring Cost and Reserve [Line Items]
Restructuring charges	263
Restructuring charges, after tax	206
Operating Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	690
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 169

Financial Instruments - Credi_2

Financial Instruments - Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Accounting Standards Update [Extensible List]		us-gaap:AccountingStandardsUpdate201613Member
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Equity	$ (132,726)	$ (132,726)		$ (145,208)	$ (155,642)	$ (149,319)
Related Party Transaction [Line Items]
Allowance for credit loss	671	671		849
Trade receivable	9,500	9,500
Non-Trade Accounts Receivable
Related Party Transaction [Line Items]
Non-trade receivable	3,300	3,300
Non-trade receivable	3,300	3,300
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Equity	(160,377)	(160,377)		$ (174,945)	$ (180,987)	$ (174,106)
Investments and Advances \| Equity Affiliate Loan
Related Party Transaction [Line Items]
Allowance for credit loss	560	560
Government Joint Venture Partners
Related Party Transaction [Line Items]
Allowance for credit loss	265	$ 265
Reduction in allowance for credit losses	$ 550
Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total Equity			$ 25

Acquisition of Noble Energy, _3

Acquisition of Noble Energy, Inc. (Details) - USD ($) shares in Millions, $ in Millions	Oct. 05, 2020	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Carrying amount of long-term debt		$ 25,676
Noble
Business Acquisition [Line Items]
Consideration transferred	$ 4,109
Number of shares (in shares)	58
Carrying amount of long-term debt	$ 9,231
Provisional measurement of assets acquired and liabilities assumed
Current assets	1,105
Investments and long-term receivables	1,282
Properties (includes $14,935 for oil and gas properties)	16,703
Other assets	607
Total assets acquired	19,697
Current liabilities	1,829
Long-term debt and finance leases	9,231
Deferred income taxes	2,355
Other liabilities	1,394
Total liabilities assumed	14,809
Noncontrolling interest and redeemable noncontrolling interest	779
Net assets acquired	4,109
Oil and gas property	$ 14,935
Unaudited pro forma summary
Sales and other operating revenues		96,980	$ 144,303
Net income		$ (9,890)	$ 1,412

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Employee Termination Benefits
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at January 1	$ 7	$ 19	$ 62
Additions (reductions) charged to expense	859	6	5
Payments/ reductions	(396)	(18)	(48)
Balance at December 31	470	7	19
Expected Credit Losses
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at January 1	849	980	606
Current period provision	573	(128)	379
Additions (reductions) charged to expense	(751)	(3)	(5)
Payments/ reductions	0	0	0
Balance at December 31	671	849	980
Deferred Income Tax Valuation Allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at January 1	15,965	15,973	16,574
Additions (reductions) charged to expense	2,892	1,336	2,000
Payments/ reductions	(1,095)	(1,344)	(2,601)
Balance at December 31	17,762	$ 15,965	$ 15,973
Deferred Income Tax Valuation Allowance \| Noble
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Additions (reductions) charged to expense	$ 974