XML 45 R33.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Operating Segments and Geographic Data (Tables)
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment Earnings Earnings by major operating area for the three-month period ended March 31, 2024 and 2023, are presented in the following table:
Three Months Ended
March 31
20242023
Segment Earnings(Millions of dollars)
Upstream
United States$2,075 $1,781 
International3,164 3,380 
Total Upstream5,239 5,161 
Downstream
United States453 977 
International330 823 
Total Downstream783 1,800 
Total Segment Earnings6,022 6,961 
All Other
Interest expense(109)(106)
Interest income85 152 
Other(497)(433)
Net Income Attributable to Chevron Corporation$5,501 $6,574 
Segment Assets Segment assets at March 31, 2024, and December 31, 2023, are as follows: 
At March 31,
2024		At December 31,
2023
Segment Assets(Millions of dollars)
Upstream
United States $58,870 $58,750 
International 130,896 131,685 
Goodwill4,370 4,370 
Total Upstream194,136 194,805 
Downstream
United States 34,297 33,066 
International22,411 21,070 
Goodwill352 352 
Total Downstream57,060 54,488 
Total Segment Assets251,196 249,293 
All Other
United States 7,559 10,292 
International2,896 2,047 
Total All Other10,455 12,339 
Total Assets — United States100,726 102,108 
Total Assets — International156,203 154,802 
Goodwill4,722 4,722 
Total Assets$261,651 $261,632 
Segment Sales and Other Operating Revenues
Segment Sales and Other Operating Revenues Segment sales and other operating revenues, including internal transfers, for the three-month period ended March 31, 2024 and 2023, 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
March 31
20242023
Sales and Other Operating Revenues(Millions of dollars)
Upstream
United States$11,167 $9,623 
International10,783 11,196 
Subtotal21,950 20,819 
Intersegment Elimination — United States(7,589)(5,902)
Intersegment Elimination — International(2,925)(2,606)
Total Upstream11,436 12,311 
Downstream
United States20,240 19,390 
International18,091 19,105 
Subtotal38,331 38,495 
Intersegment Elimination — United States(2,707)(1,565)
Intersegment Elimination — International(507)(429)
Total Downstream35,117 36,501 
All Other
United States120 108 
International1 1 
Subtotal121 109 
Intersegment Elimination — United States(93)(79)
Intersegment Elimination — International(1)— 
Total All Other27 30 
Sales and Other Operating Revenues
United States31,527 29,121 
International28,875 30,302 
Subtotal60,402 59,423 
Intersegment Elimination — United States(10,389)(7,546)
Intersegment Elimination — International(3,433)(3,035)
Total Sales and Other Operating Revenues$46,580 $48,842