Chevron (CVX) 10-Q3 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page	9 Months Ended
Cover Page	Sep. 30, 2022 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	1,933,638,546
Entity Central Index Key	0000093410
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues and Other Income
Sales and other operating revenues	$ 63,508	$ 42,552	$ 181,194	$ 109,745
Income (loss) from equity affiliates	2,410	1,647	6,962	4,000
Other income (loss)	726	511	1,623	591
Total Revenues and Other Income	66,644	44,710	189,779	114,336
Costs and Other Deductions
Purchased crude oil and products	38,090	23,834	110,742	62,031
Operating expenses	6,357	5,353	18,313	15,219
Selling, general and administrative expenses	1,028	657	2,858	2,743
Exploration expenses	116	158	521	357
Depreciation, depletion and amortization	4,201	4,304	11,555	13,112
Taxes other than on income	1,707	2,075	5,272	5,061
Interest and debt expense	128	174	393	557
Other components of net periodic benefit costs	208	100	259	602
Total Costs and Other Deductions	51,835	36,655	149,913	99,682
Income (Loss) Before Income Tax Expense	14,809	8,055	39,866	14,654
Income Tax Expense (Benefit)	3,571	1,940	10,636	4,047
Net Income (Loss)	11,238	6,115	29,230	10,607
Less: Net income (loss) attributable to noncontrolling interests	7	4	118	37
Net Income (Loss) Attributable to Chevron Corporation	$ 11,231	$ 6,111	$ 29,112	$ 10,570
Net Income (Loss) Attributable to Chevron Corporation
Basic (in dollars per share)	$ 5.81	$ 3.19	$ 15.02	$ 5.52
Diluted (in dollars per share)	$ 5.78	$ 3.19	$ 14.95	$ 5.51
Weighted Average Number of Shares Outstanding
Basic (in shares)	1,932,238	1,918,006	1,938,524	1,916,174
Diluted (in shares)	1,940,002	1,921,095	1,947,201	1,919,666

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 11,238	$ 6,115	$ 29,230	$ 10,607
Currency translation adjustment	(49)	(15)	(97)	(31)
Unrealized holding gain (loss) on securities
Net gain (loss) arising during period	(3)	(3)	(3)	(1)
Derivatives
Net derivatives gain (loss) on hedge transactions	49	(4)	80	(6)
Reclassification to net income	(29)	2	(31)	2
Income taxes on derivatives transactions	(4)	1	(11)	1
Total	16	(1)	38	(3)
Actuarial gain (loss)
Amortization to net income of net actuarial loss and settlements	296	189	533	866
Actuarial gain (loss) arising during period	159	(336)	442	681
Prior service credits (cost)
Amortization to net income of net prior service costs and curtailments	(5)	(5)	(14)	(13)
Prior service (costs) credits arising during period	0	0	0	3
Defined benefit plans sponsored by equity affiliates - benefit (cost)	7	7	25	47
Income (taxes) benefit on defined benefit plans	(103)	41	(208)	(355)
Total	354	(104)	778	1,229
Other Comprehensive Gain (Loss), Net of Tax	318	(123)	716	1,194
Comprehensive Income (Loss)	11,556	5,992	29,946	11,801
Comprehensive loss (income) attributable to noncontrolling interests	(7)	(4)	(118)	(37)
Comprehensive Income (Loss) Attributable to Chevron Corporation	$ 11,549	$ 5,988	$ 29,828	$ 11,764

CONSOLIDATED BALANCE SHEET (Una

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents		$ 15,164	$ 5,640
Marketable securities		267	35
Accounts and notes receivable (less allowance: 2022 - $390; 2021 - $303)		22,466	18,419
Inventories:
Crude oil and products		6,917	4,248
Chemicals		668	565
Materials, supplies and other		1,417	1,492
Total inventories		9,002	6,305
Prepaid expenses and other current assets		4,604	3,339
Total Current Assets		51,503	33,738
Long-term receivables (less allowance: 2022 - $494; 2021 - $442)		1,099	603
Investments and advances		45,154	40,696
Properties, plant and equipment, at cost		325,102	336,045
Less: Accumulated depreciation, depletion and amortization		180,958	189,084
Properties, plant and equipment, net		144,144	146,961
Deferred charges and other assets		12,748	12,384
Goodwill		4,663	4,385
Assets held for sale		424	768
Total Assets		259,735	239,535
Liabilities and Equity
Short-term debt		2,221	256
Accounts payable		21,699	16,454
Accrued liabilities		7,181	6,972
Federal and other taxes on income		4,020	1,700
Other taxes payable		1,762	1,409
Total Current Liabilities		36,883	26,791
Long-term debt		21,420	31,113
Deferred credits and other noncurrent obligations		20,005	20,778
Noncurrent deferred income taxes		16,616	14,665
Noncurrent employee benefit plans		5,184	6,248
Total Liabilities	[1]	100,108	99,595
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 September 30, 2022 and December 31, 2021)		1,832	1,832
Capital in excess of par value		18,587	17,282
Retained earnings		186,394	165,546
Accumulated other comprehensive losses		(3,173)	(3,889)
Deferred compensation and benefit plan trust		(240)	(240)
Treasury stock, at cost (509,038,034 and 512,870,523 shares at September 30, 2022 and December 31, 2021, respectively)		(44,720)	(41,464)
Total Chevron Corporation Stockholders’ Equity		158,680	139,067
Noncontrolling interests (includes redeemable noncontrolling interest of $142 and $135 at September 30, 2022 and December 31, 2021)		947	873
Total Equity		159,627	139,940
Total Liabilities and Equity		$ 259,735	$ 239,535

[1] * Refer to Note 12 Other Contingencies and Commitments .

CONSOLIDATED BALANCE SHEET (U_2

CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for accounts and notes receivable, current	$ 390	$ 303
Allowance for long-term receivables	$ 494	$ 442
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, par value (in dollars 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 (in dollars per share)	$ 0.75	$ 0.75
Common stock, shares issued (in shares)	2,442,676,580	2,442,676,580
Treasury stock (in shares)	509,038,034	512,870,523
Redeemable equity	$ 142	$ 135

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating Activities
Net Income (Loss)	$ 29,230	$ 10,607
Adjustments
Depreciation, depletion and amortization	11,555	13,112
Dry hole expense	255	55
Distributions more (less) than income from equity affiliates	(4,768)	(2,162)
Net before-tax losses (gains) on asset retirements and sales	(463)	(401)
Net foreign currency effects	(653)	(25)
Deferred income tax provision	1,710	472
Net decrease (increase) in operating working capital	1,172	(1,459)
Decrease (increase) in long-term receivables	121	(33)
Net decrease (increase) in other deferred charges	(101)	(167)
Cash contributions to employee pension plans	(1,087)	(1,403)
Other	133	1,133
Net Cash Provided by Operating Activities	37,104	19,729
Investing Activities
Acquisition of businesses, net of cash received	(2,862)	0
Capital expenditures	(8,139)	(5,450)
Proceeds and deposits related to asset sales and returns of investment	2,485	586
Net sales (purchases) of marketable securities	82	(1)
Net repayment (borrowing) of loans by equity affiliates	38	389
Net Cash Used for Investing Activities	(8,396)	(4,476)
Financing Activities
Net borrowings (repayments) of short-term obligations	278	(3,627)
Repayments of long-term debt and other financing obligations	(8,449)	(3,305)
Cash dividends - common stock	(8,255)	(7,612)
Net contributions from (distributions to) noncontrolling interests	(103)	(34)
Net sales (purchases) of treasury shares	(2,000)	(245)
Net Cash Provided by (Used for) Financing Activities	(18,529)	(14,823)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	(277)	(142)
Net Change in Cash, Cash Equivalents and Restricted Cash	9,902	288
Cash, Cash Equivalents and Restricted Cash at January 1	6,795	6,737
Cash, Cash Equivalents and Restricted Cash at September 30	$ 16,697	$ 7,025

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY (Unaudited) - USD ($) $ in Millions		Total	Chevron Corp. Stockholders’ Equity	Common Stock		Retained Earnings	Accumulated Other Comp. Income (Loss)	Treasury Stock (at cost)	Non-Controlling Interests
Beginning balance at Dec. 31, 2020		$ 132,726	$ 131,688	$ 18,421	[1]	$ 160,377	$ (5,612)	$ (41,498)	$ 1,038
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		95	95	95	[1]
NBLX acquisition		46	367	138	[1]	(148)		377	(321)
Net income (loss)		10,607	10,570			10,570			37
Cash dividends ($1.34 per share)		(7,663)	(7,612)			(7,612)			(51)
Stock dividends		(2)	(2)			(2)
Other comprehensive income		1,194	1,194				1,194
Purchases of treasury shares		(633)	(633)					(633)
Issuances of treasury shares		336	336					336
Other changes, net		16	(141)			(141)			157
Ending balance at Sep. 30, 2021		136,722	135,862	$ 18,654	[1]	163,044	(4,418)	$ (41,418)	860
Beginning balance, shares issued (in shares) at Dec. 31, 2020	[2]			2,442,676,580
Beginning balance, treasury shares (in shares) at Dec. 31, 2020								(517,490,263)
Beginning balance, shares outstanding (in shares) at Dec. 31, 2020				1,925,186,317
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)				(6,395,387)				(6,395,387)
Issuances (in shares)				8,894,989				8,894,989
Ending balance, shares issued (in shares) at Sep. 30, 2021	[2]			2,442,676,580
Ending balance, treasury shares (in shares) at Sep. 30, 2021								(514,990,661)
Ending balance, shares outstanding (in shares) at Sep. 30, 2021				1,927,685,919
Beginning balance at Jun. 30, 2021		133,911	133,182	$ 18,636	[1]	159,640	(4,295)	$ (40,799)	729
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		18	18	18	[1]
Net income (loss)		6,115	6,111			6,111			4
Cash dividends ($1.34 per share)		(2,596)	(2,571)			(2,571)			(25)
Stock dividends		(1)	(1)			(1)
Other comprehensive income		(123)	(123)				(123)
Purchases of treasury shares		(625)	(625)					(625)
Issuances of treasury shares		6	6					6
Other changes, net		17	(135)			(135)			152
Ending balance at Sep. 30, 2021		136,722	135,862	$ 18,654	[1]	163,044	(4,418)	$ (41,418)	860
Beginning balance, shares issued (in shares) at Jun. 30, 2021	[2]			2,442,676,580
Beginning balance, treasury shares (in shares) at Jun. 30, 2021								(508,764,636)
Beginning balance, shares outstanding (in shares) at Jun. 30, 2021				1,933,911,944
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)				(6,321,791)				(6,321,791)
Issuances (in shares)				95,766				95,766
Ending balance, shares issued (in shares) at Sep. 30, 2021	[2]			2,442,676,580
Ending balance, treasury shares (in shares) at Sep. 30, 2021								(514,990,661)
Ending balance, shares outstanding (in shares) at Sep. 30, 2021				1,927,685,919
Beginning balance at Dec. 31, 2021		139,940	139,067	$ 18,874	[1]	165,546	(3,889)	$ (41,464)	873
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		49	49	49	[1]
Net income (loss)		29,230	29,112			29,112			118
Cash dividends ($1.34 per share)		(8,362)	(8,255)			(8,255)			(107)
Stock dividends		(3)	(3)			(3)
Other comprehensive income		716	716				716
Purchases of treasury shares		(7,505)	(7,505)					(7,505)
Issuances of treasury shares		5,505	5,505	1,256	[1]			4,249
Other changes, net		57	(6)			(6)			63
Ending balance at Sep. 30, 2022		$ 159,627	158,680	$ 20,179	[1]	186,394	(3,173)	$ (44,720)	947
Beginning balance, shares issued (in shares) at Dec. 31, 2021		2,442,676,580		2,442,676,580	[2]
Beginning balance, treasury shares (in shares) at Dec. 31, 2021								(512,870,523)
Beginning balance, shares outstanding (in shares) at Dec. 31, 2021				1,929,806,057
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)				(48,390,222)				(48,390,222)
Issuances (in shares)				52,222,711				52,222,711
Ending balance, shares issued (in shares) at Sep. 30, 2022		2,442,676,580		2,442,676,580	[2]
Ending balance, treasury shares (in shares) at Sep. 30, 2022								(509,038,034)
Ending balance, shares outstanding (in shares) at Sep. 30, 2022				1,933,638,546
Beginning balance at Jun. 30, 2022		$ 154,562	153,554	$ 20,151	[1]	177,909	(3,491)	$ (41,015)	1,008
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		19	19	19	[1]
Net income (loss)		11,238	11,231			11,231			7
Cash dividends ($1.34 per share)		(2,814)	(2,743)			(2,743)			(71)
Stock dividends		(2)	(2)			(2)
Other comprehensive income		318	318				318
Purchases of treasury shares		(3,750)	(3,750)					(3,750)
Issuances of treasury shares		54	54	9	[1]			45
Other changes, net		2	(1)			(1)			3
Ending balance at Sep. 30, 2022		$ 159,627	$ 158,680	$ 20,179	[1]	$ 186,394	$ (3,173)	$ (44,720)	$ 947
Beginning balance, shares issued (in shares) at Jun. 30, 2022	[2]			2,442,676,580
Beginning balance, treasury shares (in shares) at Jun. 30, 2022								(485,241,766)
Beginning balance, shares outstanding (in shares) at Jun. 30, 2022				1,957,434,814
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)				(24,324,584)				(24,324,584)
Issuances (in shares)				528,316				528,316
Ending balance, shares issued (in shares) at Sep. 30, 2022		2,442,676,580		2,442,676,580	[2]
Ending balance, treasury shares (in shares) at Sep. 30, 2022								(509,038,034)
Ending balance, shares outstanding (in shares) at Sep. 30, 2022				1,933,638,546

[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 for all periods.

CONSOLIDATED STATEMENT OF EQU_2

CONSOLIDATED STATEMENT OF EQUITY (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends paid (in dollars per share)	$ 1.42	$ 1.34	$ 4.26	$ 3.97
Common stock	$ 1,832	$ 1,832	$ 1,832	$ 1,832	$ 1,832	$ 1,832	$ 1,832	$ 1,832
Benefit Plan Trust	$ (240)	$ (240)	$ (240)	$ (240)	$ (240)	$ (240)	$ (240)	$ (240)
Number of Chevron share issued held in benefit plan trust for funding obligations (in shares)	14,168,000	14,168,000	14,168,000	14,168,000	14,168,000	14,168,000	14,168,000	14,168,000

General

General	9 Months Ended
General	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Basis of Presentation The accompanying consolidated financial statements of Chevron Corporation and its subsidiaries (together, Chevron or the company) have not been audited by an independent registered public accounting firm. In the opinion of the company’s management, the interim data includes all adjustments necessary for a fair statement of the results for the interim periods. These adjustments were of a normal recurring nature. The results for the three- and nine-month periods ended September 30, 2022, are not necessarily indicative of future financial results. The term “earnings” is defined as net income attributable to Chevron.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Losses	9 Months Ended
Changes in Accumulated Other Comprehensive Losses	Sep. 30, 2022
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 nine months ended September 30, 2022 and 2021 are reflected in the table below. Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) (Millions of dollars) Currency Translation Adjustment Unrealized Holding Gains (Losses) on Securities Derivatives Defined Benefit Plans Total Balance at December 31, 2020 $ (107) $ (10) $ — $ (5,495) $ (5,612) Components of Other Comprehensive Income (Loss): Before Reclassifications (31) (1) (5) 563 526 Reclassifications (2) (3) — — 2 666 668 Net Other Comprehensive Income (Loss) (31) (1) (3) 1,229 1,194 Balance at September 30, 2021 $ (138) $ (11) $ (3) $ (4,266) $ (4,418) Balance at December 31, 2021 $ (162) $ (11) $ — $ (3,716) $ (3,889) Components of Other Comprehensive Income (Loss): Before Reclassifications (97) (3) 69 384 353 Reclassifications (2) (3) — — (31) 394 363 Net Other Comprehensive Income (Loss) (97) (3) 38 778 716 Balance at September 30, 2022 $ (259) $ (14) $ 38 $ (2,938) $ (3,173) (1) All amounts are net of tax. (2) Refer to Note 14 Financial and Derivative Instruments for reclassified components of cash flow hedging. (3) Refer to Note 8 Employee Benefits for reclassified components, including amortization of actuarial gains or losses, amortization of prior service costs and settlement losses, totaling $519 million that are included in employee benefit costs for the nine months ended September 30, 2022. Related income taxes for the same period, totaling $125 million, 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	9 Months Ended
	Sep. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Information Relating to the Consolidated Statement of Cash Flows	Information Relating to the Consolidated Statement of Cash Flows Nine Months Ended 2022 2021 (Millions of dollars) Distributions more (less) than income from equity affiliates includes the following: Distributions from equity affiliates $ 2,194 $ 1,838 (Income) loss from equity affiliates (6,962) (4,000) Distributions more (less) than income from equity affiliates $ (4,768) $ (2,162) Net decrease (increase) in operating working capital was composed of the following: Decrease (increase) in accounts and notes receivable $ (4,428) $ (5,692) Decrease (increase) in inventories (2,170) (353) Decrease (increase) in prepaid expenses and other current assets (479) (94) Increase (decrease) in accounts payable and accrued liabilities 5,282 3,842 Increase (decrease) in income and other taxes payable 2,967 838 Net decrease (increase) in operating working capital $ 1,172 $ (1,459) Net cash provided by operating activities includes the following cash payments: Interest on debt (net of capitalized interest) $ 320 $ 427 Income taxes 6,750 2,943 Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts: Proceeds and deposits related to asset sales $ 1,406 $ 563 Returns of investment from equity affiliates 1,079 23 Proceeds and deposits related to asset sales and returns of investment $ 2,485 $ 586 Net sales (purchases) of marketable securities consisted of the following gross amounts: Marketable securities purchased $ (9) $ (3) Marketable securities sold 91 2 Net sales (purchases) of marketable securities $ 82 $ (1) Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts: Borrowing of loans by equity affiliates $ (27) $ — Repayment of loans by equity affiliates 65 389 Net repayment (borrowing) of loans by equity affiliates $ 38 $ 389 Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts: Proceeds from issuances of short-term obligations $ — $ 4,449 Repayments of short-term obligations — (6,225) Net borrowings (repayments) of short-term obligations with three months or less maturity 278 (1,851) Net borrowings (repayments) of short-term obligations $ 278 $ (3,627) Net sales (purchases) of treasury shares consists of the following gross and net amounts: Shares issued for share-based compensation plans $ 5,505 $ 388 Shares purchased under share repurchase and deferred compensation plans (7,505) (633) Net sales (purchases) of treasury shares $ (2,000) $ (245) Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts: Distributions to noncontrolling interests $ (107) $ (51) Contributions from noncontrolling interests 4 17 Net contributions from (distributions to) noncontrolling interests $ (103) $ (34) The Consolidated Statement of Cash Flows excludes changes to the Consolidated Balance Sheet that did not affect cash. The “Other” line in the Operating Activities section includes changes in postretirement benefits obligations and other long-term liabilities. The company paid dividends of $1.42 per share of common stock in third quarter 2022. This compares to dividends of $1.34 per share paid in the year-ago corresponding period. The components of “Capital expenditures” are presented in the following table: Nine Months Ended 2022 2021 (Millions of dollars) Additions to properties, plant and equipment $ 6,901 $ 5,087 Additions to investments 932 309 Current-year dry hole expenditures 137 55 Payments for other assets and liabilities, net 169 (1) Capital expenditures $ 8,139 $ 5,450 The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet: At September 30 At December 31 2022 2021 2021 2020 (Millions of dollars) Cash and cash equivalents $ 15,164 $ 5,998 $ 5,640 $ 5,596 Restricted cash included in “Prepaid expenses and other current assets” 742 246 333 365 Restricted cash included in “Deferred charges and other assets” 791 781 822 776 Total cash, cash equivalents and restricted cash $ 16,697 $ 7,025 $ 6,795 $ 6,737 Additional information related to restricted cash is included in Note 13 Fair Value Measurements

Summarized Financial Data - Ten

Summarized Financial Data - Tengizchevroil LLP	9 Months Ended
Summarized Financial Data - Tengizchevroil LLP	Sep. 30, 2022
Summarized Financial Data of Affiliate [Abstract]
Summarized Financial Data - Tengizchevroil LLP	Summarized Financial Data — Tengizchevroil LLP Chevron has a 50 percent equity ownership interest in Tengizchevroil LLP (TCO). Summarized financial information for 100 percent of TCO is presented in the following table: Nine Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 18,682 $ 10,845 Costs and other deductions 9,003 5,568 Net income attributable to TCO $ 6,779 $ 3,692 Chevron has a 50 percent equity ownership interest in Chevron Phillips Chemical Company LLC (CPChem). Summarized financial information for 100 percent of CPChem is presented in the following table: Nine Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 11,446 $ 10,414 Costs and other deductions 10,195 7,972 Net income attributable to CPChem $ 1,565 $ 2,797

Summarized Financial Data - Che

Summarized Financial Data - Chevron Phillips Chemical Company LLC	9 Months Ended
	Sep. 30, 2022
Summarized Financial Data of Subsidiary Two [Abstract]
Summarized Financial Data – Chevron Phillips Chemical Company LLC	Summarized Financial Data — Tengizchevroil LLP Chevron has a 50 percent equity ownership interest in Tengizchevroil LLP (TCO). Summarized financial information for 100 percent of TCO is presented in the following table: Nine Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 18,682 $ 10,845 Costs and other deductions 9,003 5,568 Net income attributable to TCO $ 6,779 $ 3,692 Chevron has a 50 percent equity ownership interest in Chevron Phillips Chemical Company LLC (CPChem). Summarized financial information for 100 percent of CPChem is presented in the following table: Nine Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 11,446 $ 10,414 Costs and other deductions 10,195 7,972 Net income attributable to CPChem $ 1,565 $ 2,797

Summarized Financial Data - C_2

Summarized Financial Data - Chevron U.S.A. Inc.	9 Months Ended
Summarized Financial Data - Chevron U.S.A. Inc.	Sep. 30, 2022
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 refining, marketing, and 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 CPChem joint venture, which is accounted for using the equity method. The summarized financial information for CUSA and its consolidated subsidiaries is as follows: Nine Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 142,407 $ 85,002 Costs and other deductions 129,704 81,553 Net income (loss) attributable to CUSA $ 10,601 $ 4,184 At September 30, At December 31, (Millions of dollars) Current assets $ 33,888 $ 20,216 Other assets 49,027 47,355 Current liabilities 22,211 17,824 Other liabilities 18,812 18,438 Total CUSA net equity $ 41,892 $ 31,309 Memo: Total debt $ 10,705 $ 11,693

Operating Segments and Geograph

Operating Segments and Geographic Data	9 Months Ended
Operating Segments and Geographic Data	Sep. 30, 2022
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; manufacturing and marketing of renewable fuels; 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 companies. 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 and assets are not allocated to the operating segments. However, operating segments are billed for the direct use of corporate services. Nonbillable costs remain at the corporate level in “All Other.” Earnings by major operating area for the three- and nine-month periods ended September 30, 2022 and 2021, are presented in the following table: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Segment Earnings (Millions of dollars) (Millions of dollars) Upstream United States $ 3,398 $ 1,962 $ 10,004 $ 4,349 International 5,909 3,173 14,794 6,314 Total Upstream 9,307 5,135 24,798 10,663 Downstream United States 1,288 1,083 4,214 1,729 International 1,242 227 2,169 425 Total Downstream 2,530 1,310 6,383 2,154 Total Segment Earnings 11,837 6,445 31,181 12,817 All Other Interest expense (117) (160) (363) (517) Interest income 77 8 116 28 Other (566) (182) (1,822) (1,758) Net Income Attributable to Chevron Corporation $ 11,231 $ 6,111 $ 29,112 $ 10,570 Segment Assets Segment assets do not include intercompany investments or intercompany receivables. Segment assets at September 30, 2022, and December 31, 2021, are as follows: At September 30, At December 31, Segment Assets (Millions of dollars) Upstream United States $ 43,446 $ 41,870 International 137,638 138,157 Goodwill 4,370 4,385 Total Upstream 185,454 184,412 Downstream United States 31,870 26,376 International 22,975 18,848 Goodwill 293 — Total Downstream 55,138 45,224 Total Segment Assets 240,592 229,636 All Other United States 14,932 5,746 International 4,211 4,153 Total All Other 19,143 9,899 Total Assets — United States 90,248 73,992 Total Assets — International 164,824 161,158 Goodwill 4,663 4,385 Total Assets $ 259,735 $ 239,535 Segment Sales and Other Operating Revenues Segment sales and other operating revenues, including internal transfers, for the three- and nine-month periods ended September 30, 2022 and 2021, are presented in the following table. 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 primarily from the refining and marketing of petroleum products such as gasoline, jet fuel, gas oils, lubricants, residual fuel oils, other products derived from crude oil, and manufacturing and marketing of renewable fuels. 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. Three Months Ended Nine Months Ended 2022 2021 2022 2021 Sales and Other Operating Revenues (Millions of dollars) (Millions of dollars) Upstream United States $ 13,183 $ 7,374 $ 38,731 $ 19,199 International 15,286 11,262 43,018 29,568 Subtotal 28,469 18,636 81,749 48,767 Intersegment Elimination — United States (7,138) (3,520) (22,532) (9,631) Intersegment Elimination — International (3,102) (3,141) (10,889) (8,277) Total Upstream 18,229 11,975 48,328 30,859 Downstream United States 24,063 15,984 69,701 40,749 International 22,666 15,496 67,716 40,683 Subtotal 46,729 31,480 137,417 81,432 Intersegment Elimination — United States (1,051) (558) (3,393) (1,524) Intersegment Elimination — International (431) (384) (1,244) (1,110) Total Downstream 45,247 30,538 132,780 78,798 All Other United States 137 87 361 321 International 1 1 2 1 Subtotal 138 88 363 322 Intersegment Elimination — United States (106) (48) (276) (233) Intersegment Elimination — International — (1) (1) (1) Total All Other 32 39 86 88 Sales and Other Operating Revenues United States 37,383 23,445 108,793 60,269 International 37,953 26,759 110,736 70,252 Subtotal 75,336 50,204 219,529 130,521 Intersegment Elimination — United States (8,295) (4,126) (26,201) (11,388) Intersegment Elimination — International (3,533) (3,526) (12,134) (9,388) Total Sales and Other Operating Revenues $ 63,508 $ 42,552 $ 181,194 $ 109,745

Employee Benefits

Employee Benefits	9 Months Ended
Employee Benefits	Sep. 30, 2022
Retirement Benefits [Abstract]
Employee Benefits	Employee BenefitsChevron 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 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 employee 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 the 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 four percent each year. Certain life insurance benefits are paid by the company. The components of net periodic benefit costs for 2022 and 2021 are as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (Millions of dollars) (Millions of dollars) Pension Benefits United States Service cost $ 116 $ 112 $ 351 $ 337 Interest cost 72 56 207 175 Expected return on plan assets (161) (145) (484) (439) Amortization of prior service costs (credits) — — 1 1 Amortization of actuarial losses (gains) 55 68 180 245 Settlement losses 233 108 340 576 Total United States 315 199 595 895 International Service cost 20 27 63 98 Interest cost 33 35 104 104 Expected return on plan assets (43) (42) (135) (131) Amortization of prior service costs (credits) 2 2 5 6 Amortization of actuarial losses (gains) 4 11 12 35 Settlement losses — (1) (9) (1) Total International 16 32 40 111 Net Periodic Pension Benefit Costs $ 331 $ 231 $ 635 $ 1,006 Other Benefits* Service cost $ 11 $ 11 $ 32 $ 32 Interest cost 14 15 45 41 Amortization of prior service costs (credits) (7) (7) (20) (20) Amortization of actuarial losses (gains) 4 3 10 11 Net Periodic Other Benefit Costs $ 22 $ 22 $ 67 $ 64 * Includes costs for U.S. and international OPEB plans. Obligations for plans outside the United States are not significant relative to the company’s total OPEB obligation. Through September 30, 2022, a total of $1.1 billion was contributed to employee pension plans (including $953 million to the U.S. plans). Contribution amounts are dependent upon plan investment returns, changes in pension obligations, regulatory requirements and other economic factors. Additional funding may ultimately be required if investment returns are insufficient to offset increases in plan obligations. During the first nine months of 2022, the company contributed $121 million to its OPEB plans.

Assets Held For Sale

Assets Held For Sale	9 Months Ended
Assets Held For Sale	Sep. 30, 2022
Assets Held For Sale [Abstract]
Assets Held For Sale	Assets Held For SaleAt September 30, 2022, the company classified $424 million 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 2021 and the first nine months of 2022 were not material.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe income tax expense increased between quarterly periods from $1.9 billion in 2021 to $3.6 billion in 2022. The company's income before income tax expense increased $6.8 billion from $8.1 billion in 2021 to $14.8 billion in 2022, primarily due to higher realizations and downstream margins. The company’s effective tax rate remained unchanged at 24 percent between quarterly periods in 2021 and 2022. The income tax expense increased between the nine-month periods from $4.0 billion in 2021 to $10.6 billion in 2022. This increase is a direct result of the company’s income before income tax expense increasing $25.2 billion, from $14.7 billion in 2021 to $39.9 billion in 2022. The increase in income is primarily due to higher realizations and downstream margins. The company’s effective tax rate changed between the nine-month periods from 28 percent in 2021 to 27 percent in 2022. The change in effective tax rate is primarily a consequence of the mix effects, resulting from the absolute level of earnings or losses and whether they arose in higher or lower tax rate jurisdictions, and higher favorable international tax items. 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 September 30, 2022. For these jurisdictions, the latest years for which income tax examinations had been finalized were as follows: United States — 2016, Nigeria — 2007, Australia — 2009, Kazakhstan — 2012 and Saudi Arabia — 2016. The company engages in ongoing discussions with tax authorities regarding the resolution of tax matters in the various jurisdictions. Both the outcomes for 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 regarding 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.

Litigation

Litigation	9 Months Ended
Litigation	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Litigation	Litigation 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-year remediation program, Ecuador certified the remediation as proper and released Texpet and its affiliates from environmental liability. In May 2003, plaintiffs alleging environmental harm from the consortium’s activities sued Chevron in the Superior Court in Lago Agrio, Ecuador. In February 2011, that court entered a judgment against Chevron for approximately $9.5 billion plus additional punitive damages. An appellate panel affirmed, and Ecuador’s National Court of Justice ratified the judgment but nullified the punitive damages, resulting in a judgment of approximately $9.5 billion. Ecuador’s highest Constitutional Court rejected Chevron’s final appeal in July 2018. 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 June 2022, The Hague Court of Appeals dismissed Ecuador’s appeal. In September 2022, Ecuador appealed to the Dutch Supreme Court. In a separate proceeding, Ecuador admitted that the Ecuadorian judgment is fraudulent in a public filing with the Office of the United States Trade Representative in July 2020. Management continues to believe that the Ecuadorian judgment is illegitimate and unenforceable and will vigorously defend against any further attempts to have it recognized or enforced. Climate Change Governmental and other entities in various jurisdictions across the United States have filed legal proceedings against fossil fuel producing companies, including Chevron entities, purporting to seek legal and equitable relief to address alleged impacts of climate change. Chevron entities are or were among the codefendants in 22 separate lawsuits brought by 17 U.S. cities and counties, three U.S. states, the District of Columbia and a trade group. One of the city lawsuits was dismissed on the merits, and one of the county lawsuits was voluntarily dismissed by the plaintiff. The lawsuits assert various causes of action, including public nuisance, private nuisance, failure to warn, design defect, product defect, trespass, negligence, impairment of public trust, and violations of consumer protection statutes, based upon the company’s production of oil and gas products and alleged misrepresentations or omissions relating to climate change risks associated with those products. The unprecedented legal theories set forth in these proceedings entail the possibility of damages liability (both compensatory and punitive), injunctive and other forms of equitable relief, including without limitation abatement and disgorgement of profits, civil penalties and liability for fees and costs of suits, that, while we believe remote, could have a material adverse effect on the company’s results of operations and financial condition. Further such proceedings are likely to be filed by other parties. 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. Louisiana Seven coastal parishes and the State of Louisiana have filed 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 .

Other Contingencies and Commitm

Other Contingencies and Commitments	9 Months Ended
Other Contingencies and Commitments	Sep. 30, 2022
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 10 Income Taxes for a discussion of the periods for which tax returns have been audited for the company’s major tax jurisdictions. 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 provision has been made for income taxes for all years under examination or subject to future examination. Guarantees The company and its subsidiaries have certain contingent liabilities with respect to guarantees, direct or indirect, of debt of affiliated companies or third parties. Under the terms of the guarantee Indemnifications The company often includes standard indemnification provisions in its arrangements with its partners, suppliers and vendors in the ordinary course of business, the terms of which range in duration and sometimes are not limited. The company may be obligated to indemnify such parties for losses or claims suffered or incurred in connection with its service or other claims made against such parties. 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. 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 by the company or other parties. Such contingencies may exist for various operating, closed and divested sites, including, but not limited to, U.S. 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. Other Contingencies 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, individually and in the aggregate, may be significant and take lengthy periods to resolve, and may result in gains or losses in future periods. The company and its affiliates also continue to review and analyze their operations and may close, retire, sell, exchange, acquire or restructure assets to achieve operational or strategic benefits and to improve competitiveness and profitability. These activities, individually or together, may result in significant gains or losses in future periods.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2022
Fair Value Disclosures [Abstract]
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 liability are described as follows: Level 1: Quoted prices (unadjusted) in active markets for identical assets and liabilities. For the company, Level 1 inputs include exchange-traded futures contracts for which the parties are willing to transact at the exchange-quoted price and marketable securities that are actively traded. Level 2: Inputs other than Level 1 that are observable, either directly or indirectly. For the company, Level 2 inputs include quoted prices for similar assets or liabilities, prices obtained through third-party broker quotes and prices that can be corroborated with other observable inputs for substantially the complete term of a contract. Level 3: Unobservable inputs. The company does not use Level 3 inputs for any of its recurring fair value measurements. Level 3 inputs may be required for the determination of fair value associated with certain nonrecurring measurements of nonfinancial assets and liabilities. The fair value hierarchy for assets and liabilities measured at fair value at September 30, 2022, and December 31, 2021, is as follows: Assets and Liabilities Measured at Fair Value on a Recurring Basis (Millions of dollars) At September 30, 2022 At December 31, 2021 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Marketable Securities $ 267 $ 267 $ — $ — $ 35 $ 35 $ — $ — Derivatives - not designated 243 100 143 — 313 285 28 — Derivatives - designated 49 49 — — — — — — Total Assets at Fair Value $ 559 $ 416 $ 143 $ — $ 348 $ 320 $ 28 $ — Derivatives - not designated 163 62 101 — 72 24 48 — Total Liabilities at Fair Value $ 163 $ 62 $ 101 $ — $ 72 $ 24 $ 48 $ — 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 September 30, 2022. Derivatives The company records most of its derivative instruments — other than any commodity derivative contracts that are accounted for as normal purchase and normal sale — on the Consolidated Balance Sheet at fair value, with the offsetting amount to the Consolidated Statement of Income. The company designates certain derivative instruments as cash flow hedges that, if applicable, are reflected in the table above. Derivatives classified as Level 1 include futures, swaps and options contracts valued using quoted prices from active markets such as the New York Mercantile Exchange. Derivatives classified as Level 2 include swaps, options and forward contracts, 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. Assets and liabilities carried at fair value at September 30, 2022, and December 31, 2021, are as follows: Cash and Cash Equivalents The company holds cash equivalents 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 $15.2 billion and $5.6 billion at September 30, 2022, and December 31, 2021, respectively. The fair values of cash and cash equivalents are classified as Level 1 and reflect the cash that would have been received if the instruments were settled at September 30, 2022. Restricted Cash had a carrying/fair value of $1.5 billion and $1.2 billion at September 30, 2022 and December 31, 2021, respectively. At September 30, 2022, restricted cash is classified as Level 1 and includes restricted funds related to certain upstream decommissioning activities, tax payments and a financing program, which are reported in “Prepaid expenses and other current assets” and “Deferred charges and other assets” on the Consolidated Balance Sheet. Long-Term Debt had a net carrying value, excluding amounts reclassified from short-term debt, purchase price fair value adjustments and finance lease obligations, of $16.4 billion and $22.2 billion at September 30, 2022, and December 31, 2021, respectively. The fair value of long-term debt for the company was $14.9 billion and $23.7 billion at September 30, 2022 and December 31, 2021, respectively. Long-term debt primarily includes corporate issued bonds, classified as Level 1 and are $14.5 billion for the period. The fair value of other long-term debt classified as Level 2 is $0.4 billion. The carrying values of other short-term financial assets and liabilities on the Consolidated Balance Sheet approximate their fair values. Fair value remeasurements of other financial instruments at September 30, 2022, and December 31, 2021, were not material. The fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis at September 30, 2022, is as follows: Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Millions of dollars) At September 30, 2022 Before-Tax Loss Total Level 1 Level 2 Level 3 Three Months Ended Nine Months Ended Properties, plant and equipment, net (held and used) $ 54 $ — $ — $ 54 $ 210 $ 210 Properties, plant and equipment, net (held for sale) — — — — 3 3 Investments and advances — — — — — — Total Assets at Fair Value $ 54 $ — $ — $ 54 $ 213 $ 213 Properties, plant and equipment The company did not have any individually material impairments of long-lived assets measured at fair value on a nonrecurring basis to report.

Financial and Derivative Instru

Financial and Derivative Instruments	9 Months Ended
Financial and Derivative Instruments	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial and Derivative Instruments	Financial and Derivative Instruments The company’s commodity derivative instruments principally include crude oil, natural gas, liquefied natural gas and refined product futures, swaps, options and forward contracts. The company applies cash flow hedge accounting to certain commodity transactions, where appropriate, to manage the market price risk associated with forecasted sales of crude oil. The company’s derivatives are not material to the company’s consolidated 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 commodities and other derivatives activities. The company uses commodity derivative 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. Derivative instruments measured at fair value at September 30, 2022, and December 31, 2021, and their classification on the Consolidated Balance Sheet and Consolidated Statement of Income are as follows: Consolidated Balance Sheet: Fair Value of Derivatives (Millions of dollars) Type of Balance Sheet Classification At September 30, At December 31, Commodity Accounts and notes receivable, net $ 282 $ 251 Commodity Long-term receivables, net 10 62 Total Assets at Fair Value $ 292 $ 313 Commodity Accounts payable $ 143 $ 71 Commodity Deferred credits and other noncurrent obligations 20 1 Total Liabilities at Fair Value $ 163 $ 72 Consolidated Statement of Income: The Effect of Derivatives (Millions of dollars) Type of Gain / (Loss) Gain / (Loss) Contract Statement of Income Classification 2022 2021 2022 2021 Commodity Sales and other operating revenues $ 55 $ 203 $ (892) $ (339) Commodity Purchased crude oil and products 24 (21) (210) (45) Commodity Other income (10) (8) (16) (43) $ 69 $ 174 $ (1,118) $ (427) In the nine months ended September 30, 2022, cash flow hedging contracts increased Sales and other operating revenues by $31 million compared with a decrease of $2 million in the same period of the prior year. At September 30, 2022, before-tax deferred gains in Accumulated Other Comprehensive Losses related to outstanding crude oil price hedging contracts were $49 million, of which all is expected to be reclassified into earnings during the next 12 months as the hedged crude oil sales are recognized in earnings. The following table represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at September 30, 2022, and December 31, 2021. Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities (Millions of dollars) Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amount At September 30, 2022 Derivative Assets - not designated $ 4,042 $ 3,799 $ 243 $ 6 $ 237 Derivative Assets - designated $ 50 $ 1 $ 49 $ — $ 49 Derivative Liabilities - not designated $ 3,962 $ 3,799 $ 163 $ 42 $ 121 Derivative Liabilities - designated $ 1 $ 1 $ — $ — $ — At December 31, 2021 Derivative Assets - not designated $ 1,684 $ 1,371 $ 313 $ — $ 313 Derivative Liabilities - not designated $ 1,443 $ 1,371 $ 72 $ — $ 72 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.”

Revenue

Revenue	9 Months Ended
Revenue	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue “Sales and other operating revenue” on the Consolidated Statement of Income primarily arise from contracts with customers. Related receivables are included in “Accounts and notes receivable, net” on the Consolidated Balance Sheet, net of the current expected credit losses. The net balance of these receivables was $15.0 billion and $12.9 billion a t September 30, 2022, and December 31, 2021, 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

Financial Instruments - Credit

Financial Instruments - Credit Losses	9 Months Ended
Financial Instruments - Credit Losses	Sep. 30, 2022
Receivables [Abstract]
Financial Instruments - Credit Losses	Financial Instruments - Credit Losses Chevron’s expected credit loss allowance balance was $884 million as of September 30, 2022 and $745 million as of December 31, 2021, with a majority of the allowance relating to non-trade receivable balances. The majority of the company’s receivable balance is concentrated in trade receivables, with a balance of $19.9 billion as of September 30, 2022, which reflects the company’s diversified sources of revenues and is

Acquisition of Renewable Energy

Acquisition of Renewable Energy Group, Inc.	9 Months Ended
Acquisition of Renewable Energy Group, Inc.	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition of Renewable Energy Group, Inc.	Acquisition of Renewable Energy Group, Inc. On June 13, 2022, the company acquired Renewable Energy Group, Inc. (REG), an independent company focused on converting natural fats, oils and greases into advanced biofuels. REG utilizes a global integrated production, procurement, distribution and logistics network to operate 11 biorefineries in the U.S. and Europe. Ten biorefineries produce biodiesel and one produces renewable diesel. The acquisition combines REG’s growing renewable fuels production and leading feedstock capabilities with Chevron’s large manufacturing, distribution and commercial marketing position. Chevron acquired outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share. As part of the transaction, the company recognized long-term debt and finance leases with a fair value of $590 million. 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. Tangible and intangible assets were valued using a combination of replacement cost approach and discounted cash flows that incorporated internally generated price assumptions and production profiles together with appropriate operating and capital cost assumptions. Debt assumed in the acquisition was valued based on observable market prices for REG’s debt. As a result of measuring the assets acquired and the liabilities assumed at fair value, the company recognized $293 million of goodwill. The following table summarizes the values assigned to assets acquired and liabilities assumed: At June 13, 2022 (Millions of dollars) Current assets $ 1,584 Properties, plant and equipment 1,778 Deferred tax 92 Other assets 374 Total assets acquired 3,828 Current liabilities 301 Long-term debt and finance leases 590 Other liabilities 75 Total liabilities assumed 966 Net assets acquired $ 2,862 Goodwill 293 Purchase Price $ 3,155 Pro forma financial information is not disclosed as the acquisition was deemed not to have a material impact on the company’s results of operations.

General (Policies)

General (Policies)	9 Months Ended
General (Policies)	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of Chevron Corporation and its subsidiaries (together, Chevron or the company) have not been audited by an independent registered public accounting firm. In the opinion of the company’s management, the interim data includes all adjustments necessary for a fair statement of the results for the interim periods. These adjustments were of a normal recurring nature. The results for the three- and nine-month periods ended September 30, 2022, are not necessarily indicative of future financial results. The term “earnings” is defined as net income attributable to Chevron.
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; manufacturing and marketing of renewable fuels; 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 companies. 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).
Fair Value of Financial Instruments	The three levels of the fair value hierarchy of inputs the company uses to measure the fair value of an asset or liability are described as follows: Level 1: Quoted prices (unadjusted) in active markets for identical assets and liabilities. For the company, Level 1 inputs include exchange-traded futures contracts for which the parties are willing to transact at the exchange-quoted price and marketable securities that are actively traded. Level 2: Inputs other than Level 1 that are observable, either directly or indirectly. For the company, Level 2 inputs include quoted prices for similar assets or liabilities, prices obtained through third-party broker quotes and prices that can be corroborated with other observable inputs for substantially the complete term of a contract.
Revenue	“Sales and other operating revenue” on the Consolidated Statement of Income primarily arise from contracts with customers. Related receivables are included in “Accounts and notes receivable, net” on the Consolidated Balance Sheet, net of the current expected credit losses. The net balance of these receivables was $15.0 billion and $12.9 billion a t September 30, 2022, and December 31, 2021, 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

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Losses (Tables)	9 Months Ended
Changes in Accumulated Other Comprehensive Losses (Tables)	Sep. 30, 2022
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 nine months ended September 30, 2022 and 2021 are reflected in the table below. Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) (Millions of dollars) Currency Translation Adjustment Unrealized Holding Gains (Losses) on Securities Derivatives Defined Benefit Plans Total Balance at December 31, 2020 $ (107) $ (10) $ — $ (5,495) $ (5,612) Components of Other Comprehensive Income (Loss): Before Reclassifications (31) (1) (5) 563 526 Reclassifications (2) (3) — — 2 666 668 Net Other Comprehensive Income (Loss) (31) (1) (3) 1,229 1,194 Balance at September 30, 2021 $ (138) $ (11) $ (3) $ (4,266) $ (4,418) Balance at December 31, 2021 $ (162) $ (11) $ — $ (3,716) $ (3,889) Components of Other Comprehensive Income (Loss): Before Reclassifications (97) (3) 69 384 353 Reclassifications (2) (3) — — (31) 394 363 Net Other Comprehensive Income (Loss) (97) (3) 38 778 716 Balance at September 30, 2022 $ (259) $ (14) $ 38 $ (2,938) $ (3,173) (1) All amounts are net of tax. (2) Refer to Note 14 Financial and Derivative Instruments for reclassified components of cash flow hedging. (3) Refer to Note 8 Employee Benefits for reclassified components, including amortization of actuarial gains or losses, amortization of prior service costs and settlement losses, totaling $519 million that are included in employee benefit costs for the nine months ended September 30, 2022. Related income taxes for the same period, totaling $125 million, 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)	9 Months Ended
	Sep. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Information Relating to Consolidated Statement of Cash Flows	Nine Months Ended 2022 2021 (Millions of dollars) Distributions more (less) than income from equity affiliates includes the following: Distributions from equity affiliates $ 2,194 $ 1,838 (Income) loss from equity affiliates (6,962) (4,000) Distributions more (less) than income from equity affiliates $ (4,768) $ (2,162) Net decrease (increase) in operating working capital was composed of the following: Decrease (increase) in accounts and notes receivable $ (4,428) $ (5,692) Decrease (increase) in inventories (2,170) (353) Decrease (increase) in prepaid expenses and other current assets (479) (94) Increase (decrease) in accounts payable and accrued liabilities 5,282 3,842 Increase (decrease) in income and other taxes payable 2,967 838 Net decrease (increase) in operating working capital $ 1,172 $ (1,459) Net cash provided by operating activities includes the following cash payments: Interest on debt (net of capitalized interest) $ 320 $ 427 Income taxes 6,750 2,943 Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts: Proceeds and deposits related to asset sales $ 1,406 $ 563 Returns of investment from equity affiliates 1,079 23 Proceeds and deposits related to asset sales and returns of investment $ 2,485 $ 586 Net sales (purchases) of marketable securities consisted of the following gross amounts: Marketable securities purchased $ (9) $ (3) Marketable securities sold 91 2 Net sales (purchases) of marketable securities $ 82 $ (1) Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts: Borrowing of loans by equity affiliates $ (27) $ — Repayment of loans by equity affiliates 65 389 Net repayment (borrowing) of loans by equity affiliates $ 38 $ 389 Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts: Proceeds from issuances of short-term obligations $ — $ 4,449 Repayments of short-term obligations — (6,225) Net borrowings (repayments) of short-term obligations with three months or less maturity 278 (1,851) Net borrowings (repayments) of short-term obligations $ 278 $ (3,627) Net sales (purchases) of treasury shares consists of the following gross and net amounts: Shares issued for share-based compensation plans $ 5,505 $ 388 Shares purchased under share repurchase and deferred compensation plans (7,505) (633) Net sales (purchases) of treasury shares $ (2,000) $ (245) Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts: Distributions to noncontrolling interests $ (107) $ (51) Contributions from noncontrolling interests 4 17 Net contributions from (distributions to) noncontrolling interests $ (103) $ (34)
Capital Expenditures	The components of “Capital expenditures” are presented in the following table: Nine Months Ended 2022 2021 (Millions of dollars) Additions to properties, plant and equipment $ 6,901 $ 5,087 Additions to investments 932 309 Current-year dry hole expenditures 137 55 Payments for other assets and liabilities, net 169 (1) Capital expenditures $ 8,139 $ 5,450
Schedule of Cash and Cash Equivalents	The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet: At September 30 At December 31 2022 2021 2021 2020 (Millions of dollars) Cash and cash equivalents $ 15,164 $ 5,998 $ 5,640 $ 5,596 Restricted cash included in “Prepaid expenses and other current assets” 742 246 333 365 Restricted cash included in “Deferred charges and other assets” 791 781 822 776 Total cash, cash equivalents and restricted cash $ 16,697 $ 7,025 $ 6,795 $ 6,737
Restrictions on Cash and Cash Equivalents	The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet: At September 30 At December 31 2022 2021 2021 2020 (Millions of dollars) Cash and cash equivalents $ 15,164 $ 5,998 $ 5,640 $ 5,596 Restricted cash included in “Prepaid expenses and other current assets” 742 246 333 365 Restricted cash included in “Deferred charges and other assets” 791 781 822 776 Total cash, cash equivalents and restricted cash $ 16,697 $ 7,025 $ 6,795 $ 6,737

Summarized Financial Data - T_2

Summarized Financial Data - Tengizchevroil LLP (Tables)	9 Months Ended
Summarized Financial Data - Tengizchevroil LLP (Tables)	Sep. 30, 2022
Summarized Financial Data of Affiliate [Abstract]
Summarized Financial Data - Tengizchevroil LLP	Summarized financial information for 100 percent of TCO is presented in the following table: Nine Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 18,682 $ 10,845 Costs and other deductions 9,003 5,568 Net income attributable to TCO $ 6,779 $ 3,692 Nine Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 11,446 $ 10,414 Costs and other deductions 10,195 7,972 Net income attributable to CPChem $ 1,565 $ 2,797

Summarized Financial Data - C_3

Summarized Financial Data - Chevron Phillips Chemical Company LLC (Tables)	9 Months Ended
	Sep. 30, 2022
Summarized Financial Data of Subsidiary Two [Abstract]
Summarized Financial Data - Chevron Transport Corporation	Summarized financial information for 100 percent of TCO is presented in the following table: Nine Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 18,682 $ 10,845 Costs and other deductions 9,003 5,568 Net income attributable to TCO $ 6,779 $ 3,692 Nine Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 11,446 $ 10,414 Costs and other deductions 10,195 7,972 Net income attributable to CPChem $ 1,565 $ 2,797

Summarized Financial Data - C_4

Summarized Financial Data - Chevron U.S.A. Inc. (Tables)	9 Months Ended
Summarized Financial Data - Chevron U.S.A. Inc. (Tables)	Sep. 30, 2022
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: Nine Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 142,407 $ 85,002 Costs and other deductions 129,704 81,553 Net income (loss) attributable to CUSA $ 10,601 $ 4,184
Summarized Financial Data and its Subsidiary	At September 30, At December 31, (Millions of dollars) Current assets $ 33,888 $ 20,216 Other assets 49,027 47,355 Current liabilities 22,211 17,824 Other liabilities 18,812 18,438 Total CUSA net equity $ 41,892 $ 31,309 Memo: Total debt $ 10,705 $ 11,693

Operating Segments and Geogra_2

Operating Segments and Geographic Data (Tables)	9 Months Ended
Operating Segments and Geographic Data (Tables)	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Earnings	Earnings by major operating area for the three- and nine-month periods ended September 30, 2022 and 2021, are presented in the following table: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Segment Earnings (Millions of dollars) (Millions of dollars) Upstream United States $ 3,398 $ 1,962 $ 10,004 $ 4,349 International 5,909 3,173 14,794 6,314 Total Upstream 9,307 5,135 24,798 10,663 Downstream United States 1,288 1,083 4,214 1,729 International 1,242 227 2,169 425 Total Downstream 2,530 1,310 6,383 2,154 Total Segment Earnings 11,837 6,445 31,181 12,817 All Other Interest expense (117) (160) (363) (517) Interest income 77 8 116 28 Other (566) (182) (1,822) (1,758) Net Income Attributable to Chevron Corporation $ 11,231 $ 6,111 $ 29,112 $ 10,570
Segment Assets	Segment assets at September 30, 2022, and December 31, 2021, are as follows: At September 30, At December 31, Segment Assets (Millions of dollars) Upstream United States $ 43,446 $ 41,870 International 137,638 138,157 Goodwill 4,370 4,385 Total Upstream 185,454 184,412 Downstream United States 31,870 26,376 International 22,975 18,848 Goodwill 293 — Total Downstream 55,138 45,224 Total Segment Assets 240,592 229,636 All Other United States 14,932 5,746 International 4,211 4,153 Total All Other 19,143 9,899 Total Assets — United States 90,248 73,992 Total Assets — International 164,824 161,158 Goodwill 4,663 4,385 Total Assets $ 259,735 $ 239,535
Segment Sales and Other Operating Revenues	Segment Sales and Other Operating Revenues Segment sales and other operating revenues, including internal transfers, for the three- and nine-month periods ended September 30, 2022 and 2021, are presented in the following table. 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 primarily from the refining and marketing of petroleum products such as gasoline, jet fuel, gas oils, lubricants, residual fuel oils, other products derived from crude oil, and manufacturing and marketing of renewable fuels. 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. Three Months Ended Nine Months Ended 2022 2021 2022 2021 Sales and Other Operating Revenues (Millions of dollars) (Millions of dollars) Upstream United States $ 13,183 $ 7,374 $ 38,731 $ 19,199 International 15,286 11,262 43,018 29,568 Subtotal 28,469 18,636 81,749 48,767 Intersegment Elimination — United States (7,138) (3,520) (22,532) (9,631) Intersegment Elimination — International (3,102) (3,141) (10,889) (8,277) Total Upstream 18,229 11,975 48,328 30,859 Downstream United States 24,063 15,984 69,701 40,749 International 22,666 15,496 67,716 40,683 Subtotal 46,729 31,480 137,417 81,432 Intersegment Elimination — United States (1,051) (558) (3,393) (1,524) Intersegment Elimination — International (431) (384) (1,244) (1,110) Total Downstream 45,247 30,538 132,780 78,798 All Other United States 137 87 361 321 International 1 1 2 1 Subtotal 138 88 363 322 Intersegment Elimination — United States (106) (48) (276) (233) Intersegment Elimination — International — (1) (1) (1) Total All Other 32 39 86 88 Sales and Other Operating Revenues United States 37,383 23,445 108,793 60,269 International 37,953 26,759 110,736 70,252 Subtotal 75,336 50,204 219,529 130,521 Intersegment Elimination — United States (8,295) (4,126) (26,201) (11,388) Intersegment Elimination — International (3,533) (3,526) (12,134) (9,388) Total Sales and Other Operating Revenues $ 63,508 $ 42,552 $ 181,194 $ 109,745

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
Employee Benefits (Tables)	Sep. 30, 2022
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The components of net periodic benefit costs for 2022 and 2021 are as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (Millions of dollars) (Millions of dollars) Pension Benefits United States Service cost $ 116 $ 112 $ 351 $ 337 Interest cost 72 56 207 175 Expected return on plan assets (161) (145) (484) (439) Amortization of prior service costs (credits) — — 1 1 Amortization of actuarial losses (gains) 55 68 180 245 Settlement losses 233 108 340 576 Total United States 315 199 595 895 International Service cost 20 27 63 98 Interest cost 33 35 104 104 Expected return on plan assets (43) (42) (135) (131) Amortization of prior service costs (credits) 2 2 5 6 Amortization of actuarial losses (gains) 4 11 12 35 Settlement losses — (1) (9) (1) Total International 16 32 40 111 Net Periodic Pension Benefit Costs $ 331 $ 231 $ 635 $ 1,006 Other Benefits* Service cost $ 11 $ 11 $ 32 $ 32 Interest cost 14 15 45 41 Amortization of prior service costs (credits) (7) (7) (20) (20) Amortization of actuarial losses (gains) 4 3 10 11 Net Periodic Other Benefit Costs $ 22 $ 22 $ 67 $ 64

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The fair value hierarchy for assets and liabilities measured at fair value at September 30, 2022, and December 31, 2021, is as follows: Assets and Liabilities Measured at Fair Value on a Recurring Basis (Millions of dollars) At September 30, 2022 At December 31, 2021 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Marketable Securities $ 267 $ 267 $ — $ — $ 35 $ 35 $ — $ — Derivatives - not designated 243 100 143 — 313 285 28 — Derivatives - designated 49 49 — — — — — — Total Assets at Fair Value $ 559 $ 416 $ 143 $ — $ 348 $ 320 $ 28 $ — Derivatives - not designated 163 62 101 — 72 24 48 — Total Liabilities at Fair Value $ 163 $ 62 $ 101 $ — $ 72 $ 24 $ 48 $ —
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis	The fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis at September 30, 2022, is as follows: Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Millions of dollars) At September 30, 2022 Before-Tax Loss Total Level 1 Level 2 Level 3 Three Months Ended Nine Months Ended Properties, plant and equipment, net (held and used) $ 54 $ — $ — $ 54 $ 210 $ 210 Properties, plant and equipment, net (held for sale) — — — — 3 3 Investments and advances — — — — — — Total Assets at Fair Value $ 54 $ — $ — $ 54 $ 213 $ 213

Financial and Derivative Inst_2

Financial and Derivative Instruments (Tables)	9 Months Ended
Financial and Derivative Instruments (Tables)	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Consolidated Balance Sheet: Fair Value of Derivatives Not Designated as Hedging Instruments	Derivative instruments measured at fair value at September 30, 2022, and December 31, 2021, and their classification on the Consolidated Balance Sheet and Consolidated Statement of Income are as follows: Consolidated Balance Sheet: Fair Value of Derivatives (Millions of dollars) Type of Balance Sheet Classification At September 30, At December 31, Commodity Accounts and notes receivable, net $ 282 $ 251 Commodity Long-term receivables, net 10 62 Total Assets at Fair Value $ 292 $ 313 Commodity Accounts payable $ 143 $ 71 Commodity Deferred credits and other noncurrent obligations 20 1 Total Liabilities at Fair Value $ 163 $ 72
Consolidated Statement of Income: The Effect of Derivatives Not Designated as Hedging Instruments	Consolidated Statement of Income: The Effect of Derivatives (Millions of dollars) Type of Gain / (Loss) Gain / (Loss) Contract Statement of Income Classification 2022 2021 2022 2021 Commodity Sales and other operating revenues $ 55 $ 203 $ (892) $ (339) Commodity Purchased crude oil and products 24 (21) (210) (45) Commodity Other income (10) (8) (16) (43) $ 69 $ 174 $ (1,118) $ (427)
Schedule of Offsetting Assets	The following table represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at September 30, 2022, and December 31, 2021. Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities (Millions of dollars) Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amount At September 30, 2022 Derivative Assets - not designated $ 4,042 $ 3,799 $ 243 $ 6 $ 237 Derivative Assets - designated $ 50 $ 1 $ 49 $ — $ 49 Derivative Liabilities - not designated $ 3,962 $ 3,799 $ 163 $ 42 $ 121 Derivative Liabilities - designated $ 1 $ 1 $ — $ — $ — At December 31, 2021 Derivative Assets - not designated $ 1,684 $ 1,371 $ 313 $ — $ 313 Derivative Liabilities - not designated $ 1,443 $ 1,371 $ 72 $ — $ 72
Schedule of Offsetting Liabilities	The following table represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at September 30, 2022, and December 31, 2021. Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities (Millions of dollars) Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amount At September 30, 2022 Derivative Assets - not designated $ 4,042 $ 3,799 $ 243 $ 6 $ 237 Derivative Assets - designated $ 50 $ 1 $ 49 $ — $ 49 Derivative Liabilities - not designated $ 3,962 $ 3,799 $ 163 $ 42 $ 121 Derivative Liabilities - designated $ 1 $ 1 $ — $ — $ — At December 31, 2021 Derivative Assets - not designated $ 1,684 $ 1,371 $ 313 $ — $ 313 Derivative Liabilities - not designated $ 1,443 $ 1,371 $ 72 $ — $ 72

Acquisition of Renewable Ener_2

Acquisition of Renewable Energy Group, Inc. (Tables)	9 Months Ended
Acquisition of Renewable Energy Group, Inc. (Tables)	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the values assigned to assets acquired and liabilities assumed: At June 13, 2022 (Millions of dollars) Current assets $ 1,584 Properties, plant and equipment 1,778 Deferred tax 92 Other assets 374 Total assets acquired 3,828 Current liabilities 301 Long-term debt and finance leases 590 Other liabilities 75 Total liabilities assumed 966 Net assets acquired $ 2,862 Goodwill 293 Purchase Price $ 3,155

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Losses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 154,562	$ 133,911	$ 139,940	$ 132,726
Components of Other Comprehensive Income (Loss):
Other Comprehensive Gain (Loss), Net of Tax	318	(123)	716	1,194
Ending balance	159,627	136,722	159,627	136,722
Related income taxes	3,571	1,940	10,636	4,047
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(3,491)	(4,295)	(3,889)	(5,612)
Components of Other Comprehensive Income (Loss):
Before Reclassifications			353	526
Reclassifications			363	668
Other Comprehensive Gain (Loss), Net of Tax	318	(123)	716	1,194
Ending balance	(3,173)	(4,418)	(3,173)	(4,418)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(162)	(107)
Components of Other Comprehensive Income (Loss):
Before Reclassifications			(97)	(31)
Reclassifications			0	0
Other Comprehensive Gain (Loss), Net of Tax			(97)	(31)
Ending balance	(259)	(138)	(259)	(138)
Unrealized Holding Gains (Losses) on Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(11)	(10)
Components of Other Comprehensive Income (Loss):
Before Reclassifications			(3)	(1)
Reclassifications			0	0
Other Comprehensive Gain (Loss), Net of Tax			(3)	(1)
Ending balance	(14)	(11)	(14)	(11)
Derivatives
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			0	0
Components of Other Comprehensive Income (Loss):
Before Reclassifications			69	(5)
Reclassifications			(31)	2
Other Comprehensive Gain (Loss), Net of Tax			38	(3)
Ending balance	38	(3)	38	(3)
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(3,716)	(5,495)
Components of Other Comprehensive Income (Loss):
Before Reclassifications			384	563
Reclassifications			394	666
Other Comprehensive Gain (Loss), Net of Tax			778	1,229
Ending balance	$ (2,938)	$ (4,266)	(2,938)	$ (4,266)
Defined Benefit Plans \| Reclassification out of Accumulated Other Comprehensive Income
Components of Other Comprehensive Income (Loss):
Employee Benefits for reclassified components			519
Related income taxes			$ 125

Information Relating to the C_3

Information Relating to the Consolidated Statement of Cash Flows - Summary of Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Distributions more (less) than income from equity affiliates includes the following:
Distributions from equity affiliates	$ 2,194	$ 1,838
(Income) loss from equity affiliates	(6,962)	(4,000)
Distributions more (less) than income from equity affiliates	(4,768)	(2,162)
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable	(4,428)	(5,692)
Decrease (increase) in inventories	(2,170)	(353)
Decrease (increase) in prepaid expenses and other current assets	(479)	(94)
Increase (decrease) in accounts payable and accrued liabilities	5,282	3,842
Increase (decrease) in income and other taxes payable	2,967	838
Net decrease (increase) in operating working capital	1,172	(1,459)
Net cash provided by operating activities includes the following cash payments:
Interest on debt (net of capitalized interest)	320	427
Income taxes	6,750	2,943
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales	1,406	563
Returns of investment from equity affiliates	1,079	23
Proceeds and deposits related to asset sales and returns of investment	2,485	586
Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased	(9)	(3)
Marketable securities sold	91	2
Net sales (purchases) of marketable securities	82	(1)
Net repayment (borrowing) of loans by equity affiliates:
Borrowing of loans by equity affiliates	(27)	0
Repayment of loans by equity affiliates	65	389
Net repayment (borrowing) of loans by equity affiliates	38	389
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term obligations	0	4,449
Repayments of short-term obligations	0	(6,225)
Net borrowings (repayments) of short-term obligations with three months or less maturity	278	(1,851)
Net borrowings (repayments) of short-term obligations	278	(3,627)
Net sales (purchases) of treasury shares consists of the following gross and net amounts:
Shares issued for share-based compensation plans	5,505	388
Shares purchased under share repurchase and deferred compensation plans	(7,505)	(633)
Net sales (purchases) of treasury shares	(2,000)	(245)
Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts:
Distributions to noncontrolling interests	(107)	(51)
Contributions from noncontrolling interests	4	17
Net contributions from (distributions to) noncontrolling interests	(103)	(34)
Capital expenditures
Additions to properties, plant and equipment	6,901	5,087
Additions to investments	932	309
Current-year dry hole expenditures	137	55
Payments for other assets and liabilities, net	169	(1)
Capital expenditures	$ 8,139	$ 5,450

Information Relating to the C_4

Information Relating to the Consolidated Statement of Cash Flows - Additional Information (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Dividends paid (in dollars per share)	$ 1.42	$ 1.34	$ 4.26	$ 3.97

Information Relating to the C_5

Information Relating to the Consolidated Statement of Cash Flows - Cash Balances (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 15,164	$ 5,640	$ 5,998	$ 5,596
Restricted cash included in “Prepaid expenses and other current assets”	742	333	246	365
Restricted cash included in “Deferred charges and other assets”	791	822	781	776
Total cash, cash equivalents and restricted cash	$ 16,697	$ 6,795	$ 7,025	$ 6,737

Summarized Financial Data - T_3

Summarized Financial Data - Tengizchevroil LLP (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Affiliate Statements Captions [Line Items]
Sales and other operating revenues	$ 63,508	$ 42,552	$ 181,194	$ 109,745
Net Income (Loss)	$ 11,238	$ 6,115	$ 29,230	10,607
Tengizchevroil LLP
Affiliate Statements Captions [Line Items]
Percentage of affiliate by summarized financial information	100%		100%
Sales and other operating revenues			$ 18,682	10,845
Costs and other deductions			9,003	5,568
Net Income (Loss)			$ 6,779	$ 3,692
Tengizchevroil LLP
Affiliate Statements Captions [Line Items]
Equity ownership, percentage	50%		50%

Summarized Financial Data - C_5

Summarized Financial Data - Chevron Phillips Chemical Company LLC (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Summarized Financial Data - Chevron Transport Corporation
Sales and other operating revenues	$ 63,508	$ 42,552	$ 181,194	$ 109,745
Costs and other deductions	51,835	36,655	149,913	99,682
Net income attributable to equity method investee	11,231	6,111	29,112	10,570
Oil and Gas
Summarized Financial Data - Chevron Transport Corporation
Sales and other operating revenues	$ 63,508	$ 42,552	$ 181,194	109,745
Chevron Phillips Chemical Company LLC
Affiliate Statements Captions [Line Items]
Percentage of affiliate by summarized financial information	100%		100%
Summarized Financial Data - Chevron Transport Corporation
Costs and other deductions			$ 10,195	7,972
Net income attributable to equity method investee			1,565	2,797
Chevron Phillips Chemical Company LLC \| Oil and Gas
Summarized Financial Data - Chevron Transport Corporation
Sales and other operating revenues			$ 11,446	$ 10,414
Chevron Phillips Chemical Company LLC
Affiliate Statements Captions [Line Items]
Equity method investment, ownership percentage	50%		50%

Summarized Financial Data - C_6

Summarized Financial Data - Chevron U.S.A. Inc. - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Subsidiary Statements Captions [Line Items]
Sales and other operating revenues	$ 63,508	$ 42,552	$ 181,194	$ 109,745
Costs and other deductions	51,835	36,655	149,913	99,682
Net income attributable to equity method investee	$ 11,231	$ 6,111	29,112	10,570
Chevron U.S.A. Inc.
Subsidiary Statements Captions [Line Items]
Sales and other operating revenues			142,407	85,002
Costs and other deductions			129,704	81,553
Net income attributable to equity method investee			$ 10,601	$ 4,184

Summarized Financial Data - C_7

Summarized Financial Data - Chevron U.S.A. Inc. - Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Subsidiary Statements Captions [Line Items]
Current assets	$ 51,503		$ 33,738
Current liabilities	36,883		26,791
Total CUSA net equity	159,627	$ 154,562	139,940	$ 136,722	$ 133,911	$ 132,726
Chevron U.S.A. Inc.
Subsidiary Statements Captions [Line Items]
Current assets	33,888		20,216
Other assets	49,027		47,355
Current liabilities	22,211		17,824
Other liabilities	18,812		18,438
Total CUSA net equity	41,892		31,309
Memo: Total debt	$ 10,705		$ 11,693

Operating Segments and Geogra_3

Operating Segments and Geographic Data - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	2
Number of operating segments	2

Operating Segments and Geogra_4

Operating Segments and Geographic Data - Earnings by Major Operating Area (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	$ 11,231	$ 6,111	$ 29,112	$ 10,570
Operating Segments
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	11,837	6,445	31,181	12,817
Operating Segments \| Upstream
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	9,307	5,135	24,798	10,663
Operating Segments \| Upstream \| United States
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	3,398	1,962	10,004	4,349
Operating Segments \| Upstream \| International
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	5,909	3,173	14,794	6,314
Operating Segments \| Downstream
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	2,530	1,310	6,383	2,154
Operating Segments \| Downstream \| United States
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	1,288	1,083	4,214	1,729
Operating Segments \| Downstream \| International
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	1,242	227	2,169	425
All Other
Segment Reporting Information [Line Items]
Interest expense	(117)	(160)	(363)	(517)
Interest income	77	8	116	28
Other	$ (566)	$ (182)	$ (1,822)	$ (1,758)

Operating Segments and Geogra_5

Operating Segments and Geographic Data - Segment Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Segment Assets
Assets	$ 259,735	$ 239,535
Goodwill	4,663	4,385
United States
Segment Assets
Assets	90,248	73,992
International
Segment Assets
Assets	164,824	161,158
Operating Segments
Segment Assets
Assets	240,592	229,636
Operating Segments \| Upstream
Segment Assets
Assets	185,454	184,412
Goodwill	4,370	4,385
Operating Segments \| Upstream \| United States
Segment Assets
Assets	43,446	41,870
Operating Segments \| Upstream \| International
Segment Assets
Assets	137,638	138,157
Operating Segments \| Downstream
Segment Assets
Assets	55,138	45,224
Goodwill	293	0
Operating Segments \| Downstream \| United States
Segment Assets
Assets	31,870	26,376
Operating Segments \| Downstream \| International
Segment Assets
Assets	22,975	18,848
All Other
Segment Assets
Assets	19,143	9,899
All Other \| United States
Segment Assets
Assets	14,932	5,746
All Other \| International
Segment Assets
Assets	$ 4,211	$ 4,153

Operating Segments and Geogra_6

Operating Segments and Geographic Data - Segment Revenues (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 63,508	$ 42,552	$ 181,194	$ 109,745
Oil and Gas
Segment Reporting Information [Line Items]
Sales and other operating revenues	63,508	42,552	181,194	109,745
Oil and Gas \| Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	75,336	50,204	219,529	130,521
Oil and Gas \| All Other
Segment Reporting Information [Line Items]
Sales and other operating revenues	138	88	363	322
Oil and Gas \| Total All Other
Segment Reporting Information [Line Items]
Sales and other operating revenues	32	39	86	88
Oil and Gas \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	37,383	23,445	108,793	60,269
Oil and Gas \| United States \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(106)	(48)	(276)	(233)
Oil and Gas \| United States \| All Other
Segment Reporting Information [Line Items]
Sales and other operating revenues	137	87	361	321
Oil and Gas \| United States \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(8,295)	(4,126)	(26,201)	(11,388)
Oil and Gas \| International \| Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	37,953	26,759	110,736	70,252
Oil and Gas \| International \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	0	(1)	(1)	(1)
Oil and Gas \| International \| All Other
Segment Reporting Information [Line Items]
Sales and other operating revenues	1	1	2	1
Oil and Gas \| International \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(3,533)	(3,526)	(12,134)	(9,388)
Oil and Gas \| Upstream
Segment Reporting Information [Line Items]
Sales and other operating revenues	18,229	11,975	48,328	30,859
Oil and Gas \| Upstream \| Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	28,469	18,636	81,749	48,767
Oil and Gas \| Upstream \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	13,183	7,374	38,731	19,199
Oil and Gas \| Upstream \| United States \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(7,138)	(3,520)	(22,532)	(9,631)
Oil and Gas \| Upstream \| International \| Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	15,286	11,262	43,018	29,568
Oil and Gas \| Upstream \| International \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(3,102)	(3,141)	(10,889)	(8,277)
Oil and Gas \| Downstream
Segment Reporting Information [Line Items]
Sales and other operating revenues	45,247	30,538	132,780	78,798
Oil and Gas \| Downstream \| Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	46,729	31,480	137,417	81,432
Oil and Gas \| Downstream \| United States \| Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	24,063	15,984	69,701	40,749
Oil and Gas \| Downstream \| United States \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(1,051)	(558)	(3,393)	(1,524)
Oil and Gas \| Downstream \| International \| Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	22,666	15,496	67,716	40,683
Oil and Gas \| Downstream \| International \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ (431)	$ (384)	$ (1,244)	$ (1,110)

Employee Benefits - Additional

Employee Benefits - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Pre-Medicare company contribution for retiree medical coverage, maximum percent	4%
Contribution to other post retirement plans	$ 121
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, contributions by employer to employee pension plan	1,100
Pension Benefits \| United States
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, contributions by employer to employee pension plan	$ 953

Employee Benefits - Costs (Deta

Employee Benefits - Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Employee Benefits - Costs (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Pension Benefits
Net Periodic Benefit Cost
Net Periodic Other Benefit Costs	$ 331	$ 231	$ 635	$ 1,006
Pension Benefits \| United States
Net Periodic Benefit Cost
Service cost	116	112	351	337
Interest cost	72	56	207	175
Expected return on plan assets	(161)	(145)	(484)	(439)
Amortization of prior service costs (credits)	0	0	1	1
Amortization of actuarial losses (gains)	55	68	180	245
Settlement losses	233	108	340	576
Net Periodic Other Benefit Costs	315	199	595	895
Pension Benefits \| International
Net Periodic Benefit Cost
Service cost	20	27	63	98
Interest cost	33	35	104	104
Expected return on plan assets	(43)	(42)	(135)	(131)
Amortization of prior service costs (credits)	2	2	5	6
Amortization of actuarial losses (gains)	4	11	12	35
Settlement losses	0	(1)	(9)	(1)
Net Periodic Other Benefit Costs	16	32	40	111
Other Benefits
Net Periodic Benefit Cost
Service cost	11	11	32	32
Interest cost	14	15	45	41
Amortization of prior service costs (credits)	(7)	(7)	(20)	(20)
Amortization of actuarial losses (gains)	4	3	10	11
Net Periodic Other Benefit Costs	$ 22	$ 22	$ 67	$ 64

Assets Held For Sale (Details)

Assets Held For Sale (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 424	$ 768
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 424

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 3,571	$ 1,940	$ 10,636	$ 4,047
Increase (decrease) in income before income tax expense	6,800		25,200
Income (loss) before income tax expense	$ 14,809	$ 8,055	$ 39,866	$ 14,654
Effective tax rates	24%	24%	27%	28%

Litigation (Details)

Litigation (Details) $ in Millions	1 Months Ended	9 Months Ended
Litigation (Details) $ in Millions	Feb. 28, 2011 USD ($)	Sep. 30, 2022 lawsuit
Louisiana
Loss Contingencies [Line Items]
Pending lawsuits and claims (in number of claims)		39
Ecuador \| Pending Litigation
Loss Contingencies [Line Items]
Amount assessed in damages \| $	$ 9,500
Climate Change
Loss Contingencies [Line Items]
New claims (in number of claims)		22
Claims dismissed (in number of claims)		1

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities at Fair Value, Recurring (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Marketable securities	$ 267	$ 35
Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives	243	313
Derivatives - not designated	163	72
Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives	49
Derivatives - not designated	0
Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Marketable securities	267	35
Total Assets at Fair Value	559	348
Total Liabilities at Fair Value	163	72
Recurring Basis \| Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives	243	313
Derivatives - not designated	163	72
Recurring Basis \| Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives	49	0
Recurring Basis \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Marketable securities	267	35
Total Assets at Fair Value	416	320
Total Liabilities at Fair Value	62	24
Recurring Basis \| Level 1 \| Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives	100	285
Derivatives - not designated	62	24
Recurring Basis \| Level 1 \| Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives	49	0
Recurring Basis \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Marketable securities	0	0
Total Assets at Fair Value	143	28
Total Liabilities at Fair Value	101	48
Recurring Basis \| Level 2 \| Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives	143	28
Derivatives - not designated	101	48
Recurring Basis \| Level 2 \| Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives	0	0
Recurring Basis \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Marketable securities	0	0
Total Assets at Fair Value	0	0
Total Liabilities at Fair Value	0	0
Recurring Basis \| Level 3 \| Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives	0	0
Derivatives - not designated	0	0
Recurring Basis \| Level 3 \| Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 15,200	$ 5,600
Restricted cash	1,500	1,200
Level 1 \| Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt	14,500
Level 2 \| Other Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt	400
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net carrying value	16,400	22,200
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net carrying value	$ 14,900	$ 23,700
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maturity period of primarily bank time deposits, maximum, classified as cash equivalents and money market funds (in days)	90 days

Fair Value Measurements - Ass_2

Fair Value Measurements - Assets and Liabilities at Fair Value, Nonrecurring (Details) - Nonrecurring Basis $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Properties, plant and equipment, net (held and used)	$ 54	$ 54
Properties, plant and equipment, net (held for sale)	0	0
Investments and advances	0	0
Total Assets at Fair Value	54	54
Properties, plant and equipment, net (held and used), Before-Tax Loss	210	210
Properties, plant and equipment, net (held for sale), Before-Tax Loss	3	3
Total Assets at Fair Value, Before-Tax Loss	213	213
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)	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 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Properties, plant and equipment, net (held and used)	54	54
Properties, plant and equipment, net (held for sale)	0	0
Investments and advances	0	0
Total Assets at Fair Value	$ 54	$ 54

Financial and Derivative Inst_3

Financial and Derivative Instruments - Fair Value of Derivatives (Details) - Commodity - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Assets at Fair Value	$ 292	$ 313
Total Liabilities at Fair Value	163	72
Accounts and notes receivable, net
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Assets at Fair Value	282	251
Long-term receivables, net
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Assets at Fair Value	10	62
Accounts payable
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Liabilities at Fair Value	143	71
Deferred credits and other noncurrent obligations
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Liabilities at Fair Value	$ 20	$ 1

Financial and Derivative Inst_4

Financial and Derivative Instruments - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Deferred losses in accumulated other comprehensive losses due to Outstanding crude oil price hedging contracts	$ (49)
Cash Flow Hedging \| Sales and other operating revenues
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments, net, pretax	$ 31	$ (2)

Financial and Derivative Inst_5

Financial and Derivative Instruments - Effect of Derivatives (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Pre-tax deferred losses	$ (49)	$ 4	$ (80)	$ 6
Commodity
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Effect of derivatives, gain (loss), net	69	174	(1,118)	(427)
Commodity \| Sales and other operating revenues
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Effect of derivatives, gain (loss), net	55	203	(892)	(339)
Commodity \| Purchased crude oil and products
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Effect of derivatives, gain (loss), net	24	(21)	(210)	(45)
Commodity \| Other income
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Effect of derivatives, gain (loss), net	$ (10)	$ (8)	$ (16)	$ (43)

Financial and Derivative Inst_6

Financial and Derivative Instruments - Effect of Netting Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Not Designated
Offsetting Assets [Abstract]
Derivative Assets, Gross Amounts Recognized	$ 4,042	$ 1,684
Derivative Assets, Gross Amounts Offset	3,799	1,371
Derivative Assets, Net Amounts Presented	243	313
Derivative Assets, Gross Amounts Not Offset	6	0
Derivative Assets, Net Amounts Presented	237	313
Offsetting Liabilities [Abstract]
Derivative Liabilities, Gross Amounts Recognized	3,962	1,443
Derivative Liabilities, Gross Amounts Offset	3,799	1,371
Derivative Liabilities, Net Amounts Presented	163	72
Derivative Liabilities, Gross Amounts Not Offset	42	0
Derivative Liabilities, Net Amounts Presented	121	$ 72
Designated
Offsetting Assets [Abstract]
Derivative Assets, Gross Amounts Recognized	50
Derivative Assets, Gross Amounts Offset	1
Derivative Assets, Net Amounts Presented	49
Derivative Assets, Gross Amounts Not Offset	0
Derivative Assets, Net Amounts Presented	49
Offsetting Liabilities [Abstract]
Derivative Liabilities, Gross Amounts Recognized	1
Derivative Liabilities, Gross Amounts Offset	1
Derivative Liabilities, Net Amounts Presented	0
Derivative Liabilities, Gross Amounts Not Offset	0
Derivative Liabilities, Net Amounts Presented	$ 0

Revenue (Details)

Revenue (Details) - USD ($) $ in Billions	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Receivables	$ 15	$ 12.9

Financial Instruments - Credi_2

Financial Instruments - Credit Losses (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Allowance for credit loss	$ 884	$ 745
Trade receivable	19,900
Non-trade receivable	4,600
Investments and Advances
Related Party Transaction [Line Items]
Allowance for credit loss	$ 560	$ 560

Acquisition of Renewable Ener_3

Acquisition of Renewable Energy Group, Inc. - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 13, 2022	Sep. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 4,663	$ 4,385
Renewable Energy Group, Inc.
Business Acquisition [Line Items]
Payments to acquire business	$ 3,150
Share price (USD per share)	$ 61.50
Long-term debt and finance leases	$ 590
Goodwill	$ 293

Business Combinations and Asset

Business Combinations and Asset Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Sep. 30, 2022	Jun. 13, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 4,663		$ 4,385
Renewable Energy Group, Inc.
Business Acquisition [Line Items]
Current assets		$ 1,584
Properties, plant and equipment		1,778
Deferred tax		92
Other assets		374
Total assets acquired		3,828
Current liabilities		301
Long-term debt and finance leases		590
Other liabilities		75
Total liabilities assumed		966
Net assets acquired		2,862
Goodwill		293
Purchase Price		$ 3,155