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Operating Segments and Geographic Data
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Operating Segments and Geographic Data Operating Segments and Geographic Data
Although each subsidiary of Chevron is responsible for its own affairs, Chevron Corporation manages its investments in these subsidiaries and their affiliates. The investments are grouped into two business segments, Upstream and Downstream, representing the company’s “reportable segments” and “operating segments.” Upstream operations consist primarily of exploring for, developing and producing 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 and refined products; 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, 2020 and 2019, are presented in the following table:
Three Months Ended
September 30		Nine Months Ended
September 30
2020201920202019
Segment Earnings(Millions of dollars)(Millions of dollars)
Upstream
United States$116 $727 $(1,709)$2,371 
International119 1,977 (1,225)6,939 
Total Upstream235 2,704 (2,934)9,310 
Downstream
United States141 389 (397)1,071 
International151 439 782 738 
Total Downstream292 828 385 1,809 
Total Segment Earnings527 3,532 (2,549)11,119 
All Other
Interest expense(153)(187)(471)(591)
Interest income7 48 43 142 
Other(588)(813)(1,901)(1,136)
Net Income Attributable to Chevron Corporation$(207)$2,580 $(4,878)$9,534 
Segment Assets Segment assets do not include intercompany investments or intercompany receivables. “All Other” assets consist primarily of worldwide cash, cash equivalents, time deposits and marketable securities; real estate; information systems; technology companies; and assets of the corporate administrative functions. Segment assets at September 30, 2020, and December 31, 2019, are as follows: 
At September 30,
2020		At December 31,
2019
Segment Assets(Millions of dollars)
Upstream
United States $33,574 $35,926 
International 135,540 145,648 
Goodwill4,416 4,463 
Total Upstream173,530 186,037 
Downstream
United States 23,335 25,197 
International16,056 16,955 
Total Downstream39,391 42,152 
Total Segment Assets212,921 228,189 
All Other
United States 4,515 3,475 
International5,627 5,764 
Total All Other10,142 9,239 
Total Assets — United States61,424 64,598 
Total Assets — International157,223 168,367 
Goodwill4,416 4,463 
Total Assets$223,063 $237,428 
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, 2020 and 2019, 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 from the refining and marketing of petroleum products such as gasoline, jet fuel, gas oils, lubricants, residual fuel oils and other products derived from crude oil. This segment also generates revenues from the manufacture and sale of fuel and lubricant additives and the transportation and trading of refined products and crude oil. “All Other” activities include revenues from insurance operations, real estate activities and technology companies.
Three Months Ended
September 30		Nine Months Ended
September 30
2020201920202019
Sales and Other Operating Revenues(Millions of dollars)(Millions of dollars)
Upstream
United States$3,367 $5,602 $10,377 $17,411 
International5,911 8,607 19,478 26,953 
Subtotal9,278 14,209 29,855 44,364 
Intersegment Elimination — United States(1,916)(3,686)(6,148)(11,070)
Intersegment Elimination — International(1,661)(3,015)(5,223)(9,411)
Total Upstream5,701 7,508 18,484 23,883 
Downstream
United States8,147 14,224 24,568 41,467 
International10,649 14,230 29,341 43,438 
Subtotal18,796 28,454 53,909 84,905 
Intersegment Elimination — United States(307)(1,017)(1,899)(3,006)
Intersegment Elimination — International(230)(227)(1,001)(678)
Total Downstream18,259 27,210 51,009 81,221 
All Other
United States208 270 645 763 
International3 5 11 12 
Subtotal211 275 656 775 
Intersegment Elimination — United States(171)(209)(510)(576)
Intersegment Elimination — International(3)(5)(11)(12)
Total All Other37 61 135 187 
Sales and Other Operating Revenues
United States11,722 20,096 35,590 59,641 
International16,563 22,842 48,830 70,403 
Subtotal28,285 42,938 84,420 130,044 
Intersegment Elimination — United States(2,394)(4,912)(8,557)(14,652)
Intersegment Elimination — International(1,894)(3,247)(6,235)(10,101)
Total Sales and Other Operating Revenues$23,997 $34,779 $69,628 $105,291