Earnings Per Share

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic earnings per share (EPS) is based upon “Net Income (Loss) Attributable to Chevron Corporation” (“earnings”) and includes the effects of deferrals of salary and other compensation awards that are invested in Chevron stock units by certain officers and employees of the company. Diluted EPS includes the effects of these items as well as the dilutive effects of outstanding stock options awarded under the company’s stock option programs (refer to Note 23, “Stock Options and Other Share-Based Compensation,” beginning on page FS-55). The table on the following page sets forth the computation of basic and diluted EPS:

	Year ended December 31
	2016			2015		2014
Basic EPS Calculation
Earnings available to common stockholders - Basic1	$	(497	)	$	4,587	$	19,241
Weighted-average number of common shares outstanding2	1,872			1,867		1,883
Add: Deferred awards held as stock units	1			1		1
Total weighted-average number of common shares outstanding	1,873			1,868		1,884
Earnings per share of common stock - Basic	$	(0.27	)	$	2.46	$	10.21
Diluted EPS Calculation
Earnings available to common stockholders - Diluted1	$	(497	)	$	4,587	$	19,241
Weighted-average number of common shares outstanding2	1,872			1,867		1,883
Add: Deferred awards held as stock units	1			1		1
Add: Dilutive effect of employee stock-based awards	—			7		14
Total weighted-average number of common shares outstanding	1,873			1,875		1,898
Earnings per share of common stock - Diluted	$	(0.27	)	$	2.45	$	10.14
1 There was no effect of dividend equivalents paid on stock units or dilutive impact of employee stock-based awards on earnings.
2 Millions of shares; 10 million shares of employee-based awards were not included in the 2016 diluted EPS calculation as the result would be anti-dilutive.