Noncontrolling Interests

12 Months Ended

Dec. 31, 2011

Note 3

Noncontrolling Interests

The company adopted the accounting standard for noncontrolling interests (ASC 810) in the consolidated financial statements effective January 1, 2009, and retroactive to the earliest period presented. Ownership interests in the company’s subsidiaries held by parties other than the parent are presented separately from the parent’s equity on the Consolidated Balance Sheet. The amount of consolidated net income attributable to the parent and the noncontrolling interests are both presented on the face of the Consolidated Statement of Income. The term “earnings” is defined as “Net Income Attributable to Chevron Corporation.”

Activity for the equity attributable to noncontrolling interests for 2011, 2010 and 2009 is as follows:


	2011			2010			2009

Balance at January 1	$	730		$	647		$	469
Net income		113			112			80
Distributions to noncontrolling interests		(71	)		(72	)		(71	)
Other changes, net		27			43			169

Balance at December 31	$	799		$	730		$	647

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

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