Chevron (CVX) 10-Q 3 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2018shares
Document and Entity Information [Abstract]
Entity Registrant Name	CHEVRON CORP
Entity Central Index Key	93,410
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	1,910,956,734

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Revenues and Other Income
Sales and other operating revenues	[1]	$ 35,968	$ 31,524
Income from equity affiliates		1,637	1,150
Other income		159	747
Total Revenues and Other Income		37,764	33,421
Costs and Other Deductions
Purchased crude oil and products		21,233	17,506
Operating expenses	[2]	4,701	4,586
Selling, general and administrative expenses	[2]	723	810
Exploration expenses		158	144
Depreciation, depletion and amortization		4,289	4,194
Taxes other than on income	[1]	1,344	2,871
Interest and debt expense		159	51
Other components of net periodic benefit costs	[2]	84	130
Total Costs and Other Deductions		32,691	30,292
Income Before Income Tax Expense		5,073	3,129
Income Tax Expense		1,414	430
Net Income		3,659	2,699
Less: Net income attributable to noncontrolling interests		21	17
Net Income Attributable to Chevron Corporation		$ 3,638	$ 2,682
Per Share of Common Stock:
Net Income Attributable to Chevron Corporation - Basic (in dollars per share)		$ 1.92	$ 1.43
Net Income Attributable to Chevron Corporation - Diluted (in dollars per share)		1.90	1.41
Dividends (in dollars per share)		$ 1.12	$ 1.08
Weighted Average Number of Shares Outstanding
Basic (in shares)		1,895,990	1,879,372
Diluted (in shares)		1,913,218	1,895,393
[1]	2017 includes excise, value-added and similar taxes of $1,677 million collected on behalf of third parties. Beginning in 2018, these taxes are netted in "Taxes other than on income" in accordance with ASU 2014-09. Refer to Note 17, "Revenue" beginning on page 24.
[2]	2017 adjusted to conform to ASU 2017-07. Refer to Note 5, "New Accounting Standards" on page 10.

CONSOLIDATED STATEMENT OF INCO3

CONSOLIDATED STATEMENT OF INCOME (Unaudited) (Parenthetical) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Income Statement [Abstract]
Includes excise, value-added and similar taxes	$ 1,677

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net Income	$ 3,659	$ 2,699
Currency translation adjustment	10	14
Unrealized holding (loss) gain on securities:
Net (loss) gain arising during period	(1)	(5)
Actuarial gain (loss):
Amortization to net income of net actuarial and settlement losses	157	171
Actuarial (loss) gain arising during period	(1)	(14)
Prior service cost:
Amortization to net income of net prior service costs	(4)	(5)
Defined benefit plans sponsored by equity affiliates	8	6
Income tax expense on defined benefit plans	(39)	(50)
Total	121	108
Other Comprehensive Gain, Net of Tax	130	117
Comprehensive Income	3,789	2,816
Comprehensive income attributable to noncontrolling interests	(21)	(17)
Comprehensive Income Attributable to Chevron Corporation	$ 3,768	$ 2,799

CONSOLIDATED BALANCE SHEET (Una

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents		$ 6,466	$ 4,813
Marketable securities		38	9
Accounts and notes receivable, net		15,771	15,353
Inventories
Crude oil and petroleum products		3,705	3,142
Chemicals		475	476
Materials, supplies and other		1,948	1,967
Total inventories		6,128	5,585
Prepaid expenses and other current assets		3,323	2,800
Total Current Assets		31,726	28,560
Long-term receivables, net		2,723	2,849
Investments and advances		33,470	32,497
Properties, plant and equipment, at cost		344,977	344,485
Less: Accumulated depreciation, depletion and amortization		169,131	166,773
Properties, plant and equipment, net		175,846	177,712
Deferred charges and other assets		6,946	7,017
Goodwill		4,531	4,531
Assets held for sale		1,200	640
Total Assets		256,442	253,806
LIABILITIES AND EQUITY
Short-term debt		8,601	5,192
Accounts payable		14,479	14,565
Accrued liabilities		4,587	5,267
Federal and other taxes on income		1,867	1,600
Other taxes payable		1,096	1,113
Total Current Liabilities		30,630	27,737
Long-term debt		31,054	33,477
Capital lease obligations		90	94
Deferred credits and other noncurrent obligations		20,674	21,106
Noncurrent deferred income taxes		15,082	14,652
Noncurrent employee benefit plans		7,346	7,421
Total Liabilities	[1]	104,876	104,487
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 March 31, 2018, and December 31, 2017)		1,832	1,832
Capital in excess of par value		16,963	16,848
Retained earnings		175,619	174,106
Accumulated other comprehensive loss		(3,459)	(3,589)
Deferred compensation and benefit plan trust		(240)	(240)
Treasury stock, at cost (531,719,846 and 537,974,695 shares at March 31, 2018, and December 31, 2017, respectively)		(40,359)	(40,833)
Total Chevron Corporation Stockholders’ Equity		150,356	148,124
Noncontrolling interests		1,210	1,195
Total Equity		151,566	149,319
Total Liabilities and Equity		$ 256,442	$ 253,806
[1]	Refer to Note 14, "Other Contingencies and Commitments" beginning on page 20.

CONSOLIDATED BALANCE SHEET (Un6

CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
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)	531,719,846	537,974,695

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Operating Activities
Net Income		$ 3,659	$ 2,699
Adjustments
Depreciation, depletion and amortization		4,289	4,194
Dry hole expense		45	7
Distributions less than income from equity affiliates	[1]	(998)	(658)
Net before-tax gains on asset retirements and sales		(12)	(764)
Net foreign currency effects		63	131
Deferred income tax provision		383	(563)
Net increase in operating working capital	[2]	(2,104)	(1,052)
Decrease in long-term receivables		128	20
Net increase in other deferred charges	[2]	(12)	(33)
Cash contributions to employee pension plans		(149)	(170)
Other		(249)	(34)
Net Cash Provided by Operating Activities	[1],[2]	5,043	3,777
Investing Activities
Capital expenditures		(2,997)	(3,315)
Proceeds and deposits related to asset sales and returns of investment	[1],[2]	111	1,846
Net (purchases) sales of marketable securities		(29)	2
Net repayment (borrowing) of loans by equity affiliates		26	(6)
Net Cash Used for Investing Activities	[1],[2]	(2,889)	(1,473)
Financing Activities
Net borrowings (repayments) of short-term obligations		3,214	(3,928)
Proceeds from issuance of long-term debt		73	3,994
Repayments of long-term debt and other financing obligations		(2,331)	(966)
Cash dividends — common stock		(2,124)	(2,029)
Distributions to noncontrolling interests		(11)	0
Net sales of treasury shares		566	245
Net Cash Used for Financing Activities		(613)	(2,684)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	[2]	33	39
Net Change in Cash, Cash Equivalents and Restricted Cash	[2]	1,574	(341)
Cash, Cash Equivalents and Restricted Cash at January 1	[2]	5,943	8,414
Cash, Cash Equivalents and Restricted Cash at March 31	[2]	$ 7,517	$ 8,073
[1]	2017 adjusted to conform to Accounting Standards Update 2016-15. Refer to Note 4, "Information Relating to the Consolidated Statement of Cash Flows" beginning on page 8.
[2]	2017 adjusted to conform to Accounting Standards Update 2016-18. Refer to Note 4, "Information Relating to the Consolidated Statement of Cash Flows" beginning on page 8.

Interim Financial Statements

Interim Financial Statements	3 Months Ended
	Mar. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Interim Financial Statements	Interim Financial Statements The accompanying consolidated financial statements of Chevron Corporation and its subsidiaries (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-month period ended March 31, 2018 , are not necessarily indicative of future financial results. The term “earnings” is defined as net income attributable to Chevron Corporation. Certain notes and other information have been condensed or omitted from the interim financial statements presented in this Quarterly Report on Form 10-Q. Therefore, these financial statements should be read in conjunction with the company’s 2017 Annual Report on Form 10-K.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Losses	3 Months Ended
	Mar. 31, 2018
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 three months ending March 31, 2018 , are reflected in the table below. Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) Three Months Ended March 31, 2018 Currency Translation Adjustment Unrealized Holding Gains (Losses) on Securities Derivatives Defined Benefit Plans Total (Millions of dollars) Balance at January 1 $ (105 ) $ (5 ) $ (2 ) $ (3,477 ) $ (3,589 ) Components of Other Comprehensive Income (Loss): Before Reclassifications 10 (1 ) — 5 14 Reclassifications (2) — — — 116 116 Net Other Comprehensive Income (Loss) 10 (1 ) — 121 130 Balance at March 31 $ (95 ) $ (6 ) $ (2 ) $ (3,356 ) $ (3,459 ) ________________________________ (1) All amounts are net of tax. (2) Refer to Note 10, Employee Benefits for reclassified components totaling $153 million that are included in employee benefit costs for the three months ending March 31, 2018 . Related income taxes for the same period, totaling $37 million , are reflected in "Income Tax Expense" on the Consolidated Statement of Income. All other reclassified amounts were insignificant.

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests 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. Activity for the equity attributable to noncontrolling interests for the first three months of 2018 and 2017 is as follows: 2018 2017 Chevron Corporation Stockholders’ Equity Non-controlling Interest Total Equity Chevron Corporation Stockholders’ Equity Non-controlling Interest Total Equity (Millions of dollars) Balance at January 1 $ 148,124 $ 1,195 $ 149,319 $ 145,556 $ 1,166 $ 146,722 Net income 3,638 21 3,659 2,682 17 2,699 Dividends (2,124 ) — (2,124 ) (2,030 ) — (2,030 ) Distributions to noncontrolling interests — (11 ) (11 ) — — — Treasury shares, net 474 — 474 231 — 231 Other changes, net* 244 5 249 153 15 168 Balance at March 31 $ 150,356 $ 1,210 $ 151,566 $ 146,592 $ 1,198 $ 147,790 __________________________________________ * Includes components of comprehensive income, which are disclosed separately in the Consolidated Statement of Comprehensive Income.

Information Relating to the Con

Information Relating to the Consolidated Statement of Cash Flows	3 Months Ended
	Mar. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Information Relating to the Consolidated Statement of Cash Flows	Information Relating to the Consolidated Statement of Cash Flows The “Net increase in operating working capital” was composed of the following operating changes: Three Months Ended 2018 2017 (Millions of dollars) (Increase) decrease in accounts and notes receivable $ (335 ) $ 317 Increase in inventories (543 ) (550 ) (Increase) decrease in prepaid expenses and other current assets 1 (608 ) 26 Decrease in accounts payable and accrued liabilities 1 (807 ) (1,090 ) Increase in income and other taxes payable 189 245 Net increase in operating working capital 1 $ (2,104 ) $ (1,052 ) ____________________ 1 2017 adjusted to conform to Accounting Standards Update 2016-18. “Net Cash Provided by Operating Activities” included the following cash payments for interest on debt and for income taxes: Three Months Ended 2018 2017 (Millions of dollars) Interest on debt (net of capitalized interest) $ 105 $ — Income taxes 843 494 "Other" includes changes in postretirement benefits obligations and other long-term liabilities. The “Net (purchases) sales of marketable securities” consisted of the following gross amounts: Three Months Ended 2018 2017 (Millions of dollars) Marketable securities purchased $ (29 ) $ — Marketable securities sold — 2 Net (purchases) sales of marketable securities $ (29 ) $ 2 The “Net repayment (borrowing) of loans by equity affiliates” consisted of the following gross amounts: Three Months Ended 2018 2017 (Millions of dollars) Borrowing of loans by equity affiliates $ — $ (70 ) Repayment of loans by equity affiliates 26 64 Net repayment (borrowing) of loans by equity affiliates $ 26 $ (6 ) The “Net borrowings (repayments) of short-term obligations" consisted of the following gross and net amounts: Three Months Ended 2018 2017 (Millions of dollars) Repayments of short-term obligations $ (1,377 ) $ (2,952 ) Proceeds from issuances of short-term obligations 658 3,415 Net borrowings of short-term obligations with three months or less maturity 3,933 (4,391 ) Net borrowings (repayments) of short-term obligations $ 3,214 $ (3,928 ) The “ Net sales of treasury shares ” represents the value of shares sold for share-based compensation plans, net of purchases. Purchases totaled $1 million for the first three months in 2018 and $1 million for the first three months in 2017 . No purchases were made under the company's share repurchase program in the first three months of 2018 or 2017 . The major components of “Capital expenditures” and the reconciliation of this amount to the capital and exploratory expenditures, including equity affiliates, are as follows: Three Months Ended 2018 2017 (Millions of dollars) Additions to properties, plant and equipment $ 2,937 $ 3,305 Additions to investments 15 3 Current year dry hole expenditures 45 7 Capital expenditures 2,997 3,315 Expensed exploration expenditures 113 137 Assets acquired through capital lease obligations — 1 Capital and exploratory expenditures, excluding equity affiliates 3,110 3,453 Company’s share of expenditures by equity affiliates 1,295 939 Capital and exploratory expenditures, including equity affiliates $ 4,405 $ 4,392 On January 1, 2018, Chevron adopted Accounting Standards Updates (ASU) 2016-15 and 2016-18, which require retrospective adjustment of prior periods in the Statement of Cash Flows. In addition to other requirements, ASU 2016-15 specifies new standards for the classification of distributions from equity affiliates. In adopting these new standards, Chevron utilized the cumulative earnings approach to evaluate returns on and returns of investment from equity affiliates. For the first three months of 2017 , a total of $6 million was reclassified from “Distributions less than income from equity affiliates” to “Proceeds and deposits related to asset sales and returns of investment.” Adoption of ASU 2016-18 requires the inclusion of restricted cash and associated changes in restricted cash in the Consolidated Statement of Cash Flows. The impact of ASU 2016-18 is captured across several line items in the Statement of Cash Flows, including “Net decrease (increase) in operating working capital,” “Decrease (increase) in other deferred charges,” and “Proceeds and deposits related to asset sales and returns of investment” with associated net changes captured in both “Net Cash Provided by Operating Activities” and “Net Cash Used for Investing Activities.” The line item “Net sales (purchases) of other short-term investments” was removed in conjunction with the adoption of ASU 2016-18. The table on the next page quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet: At March 31 At December 31 2018 2017 2017 2016 (Millions of dollars) (Millions of dollars) Cash and Cash Equivalents $ 6,466 $ 6,983 $ 4,813 $ 6,988 Restricted cash included in "Prepaid expenses and other current assets" 316 306 405 488 Restricted cash included in "Deferred charges and other assets" 735 784 725 938 Total Cash, Cash Equivalents and Restricted Cash $ 7,517 $ 8,073 $ 5,943 $ 8,414 Additional information related to "Restricted Cash" is included on page 22 in Note 15 under the heading "Restricted Cash."

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Standards	New Accounting Standards Revenue Recognition (Topic 606): Revenue from Contracts with Customers On January 1, 2018, Chevron adopted ASU 2014-09 and its related amendments using the modified retrospective transition method, which did not require the restatement of prior periods. The impact of the adoption of the standard did not have a material effect on the company’s consolidated financial statements. For additional information on the company’s revenue, refer to Note 17 beginning on page 24 . Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments Effective January 1, 2018, Chevron adopted ASU 2016-15 on a retrospective basis. The standard provides clarification on how certain cash receipts and cash payments are presented and classified on the statement of cash flows. The adoption of this ASU did not have a material impact on the company's Consolidated Statement of Cash Flows. For additional information, refer to Note 4 beginning on page 8 . Statement of Cash Flows (Topic 230): Restricted Cash Effective January 1, 2018, Chevron adopted ASU 2016-18 on a retrospective basis. The standard requires an entity to explain the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents on the statement of cash flows and to provide a reconciliation to the balance sheet when the cash, cash equivalents, restricted cash and restricted cash equivalents are not separately presented or are presented in more than one line item on the balance sheet. The company’s restricted cash balances are now included in the beginning and ending balances on the Consolidated Statement of Cash Flows. For additional information, refer to Note 4 beginning on page 8 . Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20) On January 1, 2018, the company adopted ASU 2017-05 which provides clarification regarding the guidance on accounting for the derecognition of nonfinancial assets. The adoption of the standard had no impact on the company’s consolidated financial statements. Compensation - Retirement Benefits (Topic 715 ): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost Effective January 1, 2018, Chevron adopted ASU 2017-07 on a retrospective basis. The standard requires the disaggregation of the service cost component from the other components of net periodic benefit cost and allows only the service cost component of net benefit cost to be eligible for capitalization. The effects of retrospective adoption on the Consolidated Statement of Income for the period ended March 31, 2017 were to move $ 70 million from "Operating expenses" and $ 60 million from "Selling, general and administrative expenses" to "Other components of net periodic benefits cost." Leases (Topic 842) In February 2016, the FASB issued ASU 2016-02 which becomes effective for the company January 1, 2019. The standard requires that lessees present right-of-use assets and lease liabilities on the balance sheet. The company is evaluating the effect of the standard on its consolidated financial statements. Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued ASU 2018-02, which becomes effective for the company January 1, 2019. The standard permits companies to reclassify the tax effects stranded in accumulated other comprehensive income as a result of tax reform to retained earnings and also requires additional new disclosures. The company is evaluating the effect of the standard on its consolidated financial statements. Financial Instruments - Credit Losses (Topic 326) In June 2016, the FASB issued ASU 2016-13, which becomes effective for the company beginning January 1, 2020. The standard requires companies to use forward-looking information to calculate credit loss estimates. The company is evaluating the effect of the standard on its consolidated financial statements.

Operating Segments and Geograph

Operating Segments and Geographic Data	3 Months Ended
	Mar. 31, 2018
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-month periods ended March 31, 2018 and 2017 , are presented in the following table: Three Months Ended Segment Earnings 2018 2017 (Millions of dollars) Upstream United States $ 648 $ 80 International 2,704 1,437 Total Upstream 3,352 1,517 Downstream United States 442 469 International 286 457 Total Downstream 728 926 Total Segment Earnings 4,080 2,443 All Other Interest expense (149 ) (43 ) Interest income 19 15 Other (312 ) 267 Net Income Attributable to Chevron Corporation $ 3,638 $ 2,682 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 March 31, 2018 , and December 31, 2017 , are as follows: Segment Assets At March 31 At December 31 (Millions of dollars) Upstream United States $ 41,791 $ 40,770 International 159,071 159,612 Goodwill 4,531 4,531 Total Upstream 205,393 204,913 Downstream United States 23,862 23,202 International 17,200 17,434 Total Downstream 41,062 40,636 Total Segment Assets 246,455 245,549 All Other United States 5,682 4,938 International 4,305 3,319 Total All Other 9,987 8,257 Total Assets — United States 71,335 68,910 Total Assets — International 180,576 180,365 Goodwill 4,531 4,531 Total Assets $ 256,442 $ 253,806 Segment Sales and Other Operating Revenues Segment sales and other operating revenues, including internal transfers, for the three-month periods ended March 31, 2018 and 2017 , 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 Sales and Other Operating Revenues 2018 2017 (Millions of dollars) Upstream United States $ 4,577 $ 3,240 International 8,656 6,581 Subtotal 13,233 9,821 Intersegment Elimination — United States (2,757 ) (2,241 ) Intersegment Elimination — International (3,215 ) (2,720 ) Total Upstream 7,261 4,860 Downstream * United States 13,042 12,432 International 15,935 14,513 Subtotal 28,977 26,945 Intersegment Elimination — United States (3 ) (3 ) Intersegment Elimination — International (328 ) (330 ) Total Downstream 28,646 26,612 All Other United States 227 235 International 3 5 Subtotal 230 240 Intersegment Elimination — United States (166 ) (183 ) Intersegment Elimination — International (3 ) (5 ) Total All Other 61 52 Sales and Other Operating Revenues United States 17,846 15,907 International 24,594 21,099 Subtotal 42,440 37,006 Intersegment Elimination — United States (2,926 ) (2,427 ) Intersegment Elimination — International (3,546 ) (3,055 ) Total Sales and Other Operating Revenues $ 35,968 $ 31,524 _____________________________ * 2017 includes excise, value-added and similar taxes of $1,677 million collected on behalf of third parties. Beginning in 2018, these taxes are netted in "Taxes other than on income" in accordance with ASU 2014-09. Refer to Note 17, "Revenue" beginning on page 24.

Summarized Financial Data - Che

Summarized Financial Data - Chevron U.S.A. Inc.	3 Months Ended
	Mar. 31, 2018
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 Chevron Phillips Chemical Company LLC joint venture, which is accounted for using the equity method. The summarized financial information for CUSA and its consolidated subsidiaries is as follows: Three Months Ended 2018 2017 (Millions of dollars) Sales and other operating revenues * $ 28,058 $ 24,408 Costs and other deductions * 27,596 24,099 Net income attributable to CUSA 697 421 _____________________________ * 2017 includes excise, value-added and similar taxes collected on behalf of third parties of $1,207 million. Beginning in 2018, these taxes are netted in "Taxes other than on income" in accordance with ASU 2014-09. At March 31 At December 31 (Millions of dollars) Current assets $ 13,406 $ 12,163 Other assets 55,482 54,994 Current liabilities 17,606 17,379 Other liabilities 12,623 12,541 Total CUSA net equity $ 38,659 $ 37,237 Memo: Total debt $ 3,050 $ 3,056

Summarized Financial Data - Ten

Summarized Financial Data - Tengizchevroil LLP	3 Months Ended
	Mar. 31, 2018
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: Three Months Ended 2018 2017 (Millions of dollars) Sales and other operating revenues $ 4,325 $ 3,395 Costs and other deductions 1,942 1,754 Net income attributable to TCO 1,679 1,158 Summarized Financial Data — Chevron Phillips Chemical Company LLC 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 table below : Three Months Ended 2018 2017 (Millions of dollars) Sales and other operating revenues $ 2,577 $ 2,445 Costs and other deductions 2,151 2,019 Net income attributable to CPChem 585 503

Summarized Financial Data - C16

Summarized Financial Data - Chevron Phillips Chemical Company LLC	3 Months Ended
	Mar. 31, 2018
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: Three Months Ended 2018 2017 (Millions of dollars) Sales and other operating revenues $ 4,325 $ 3,395 Costs and other deductions 1,942 1,754 Net income attributable to TCO 1,679 1,158 Summarized Financial Data — Chevron Phillips Chemical Company LLC 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 table below : Three Months Ended 2018 2017 (Millions of dollars) Sales and other operating revenues $ 2,577 $ 2,445 Costs and other deductions 2,151 2,019 Net income attributable to CPChem 585 503

Employee Benefits

Employee Benefits	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Employee Benefits	Employee Benefits Chevron 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. The increase to the pre-Medicare company contribution for retiree medical coverage is limited to no more than 4 percent each year. Certain life insurance benefits are paid by the company. The components of net periodic benefit costs for 2018 and 2017 are as follows: Three Months Ended 2018 2017 (Millions of dollars) Pension Benefits United States Service cost $ 120 $ 122 Interest cost 92 91 Expected return on plan assets (159 ) (149 ) Amortization of prior service credits 1 (1 ) Amortization of actuarial losses 76 85 Settlement losses 66 78 Total United States 196 226 International Service cost 40 37 Interest cost 46 53 Expected return on plan assets (66 ) (58 ) Amortization of prior service costs 2 3 Amortization of actuarial losses 11 9 Settlement losses — — Total International 33 44 Net Periodic Pension Benefit Costs $ 229 $ 270 Other Benefits* Service cost $ 13 $ 8 Interest cost 21 23 Amortization of prior service costs (7 ) (7 ) Amortization of actuarial losses 4 (1 ) Net Periodic Other Benefit Costs $ 31 $ 23 ___________________________________ * 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 March 31, 2018 , a total of $149 million was contributed to employee pension plans (including $91 million to the U.S. plans). Total contributions for the full year are currently estimated to be $950 million ( $700 million for the U.S. plans and $250 million for the international plans). Actual 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 three months of 2018 , the company contributed $45 million to its OPEB plans. The company anticipates contributing approximately $129 million during the remainder of 2018 .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The 2018 increase in income tax expense between periods of $984 million , from $430 million in 2017 to $1.41 billion in 2018, is a result of the year-over-year increase in total income before income tax expense, which is primarily due to effects of higher crude oil prices and production. The company’s effective tax rate changed between periods from 14 percent in 2017 to 28 percent in 2018. The change in effective tax rate is primarily a consequence of the mix effect resulting from the absolute level of earnings or losses and whether they arose in higher or lower tax rate jurisdictions. U.S. tax reform resulted in the remeasurement of U.S. deferred tax assets and liabilities in 2017. The final impact will be determined as the actual 2017 U.S. tax return is prepared and completed later in 2018, and this may result in a change to the provisional amounts that were recognized in 2017. 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 March 31, 2018 . For these jurisdictions, the latest years for which income tax examinations had been finalized were as follows: United States — 2011 , Nigeria — 2000 , Australia — 2006 and Kazakhstan — 2007 . 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.

Assets Held For Sale

Assets Held For Sale	3 Months Ended
	Mar. 31, 2018
Assets Held For Sale [Abstract]
Assets Held For Sale	Assets Held For Sale At March 31, 2018 , the company classified $1.20 billion of net properties, plant and equipment as “Assets held for sale” on the Consolidated Balance Sheet. These assets are primarily associated with upstream and downstream operations that are anticipated to be sold in the next 12 months. The revenues and earnings contributions of these assets in 2017 and the first three months of 2018 were not material.

Litigation

Litigation	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Litigation	Litigation MTBE Chevron and many other companies in the petroleum industry have used methyl tertiary butyl ether (MTBE) as a gasoline additive. Chevron is a party to eight pending lawsuits and claims, the majority of which involve numerous other petroleum marketers and refiners. Resolution of these lawsuits and claims may ultimately require the company to correct or ameliorate the alleged effects on the environment of prior release of MTBE by the company or other parties. Additional lawsuits and claims related to the use of MTBE, including personal-injury claims, may be filed in the future. The company’s ultimate exposure related to pending lawsuits and claims is not determinable. The company no longer uses MTBE in the manufacture of gasoline in the United States. Ecuador Background Chevron is a defendant in a civil lawsuit initiated in the Superior Court of Nueva Loja in Lago Agrio, Ecuador, in May 2003 by plaintiffs who claim to be representatives of certain residents of an area where an oil production consortium formerly had operations. The lawsuit alleges damage to the environment from the oil exploration and production operations and seeks unspecified damages to fund environmental remediation and restoration of the alleged environmental harm, plus a health monitoring program. Until 1992, Texaco Petroleum Company (Texpet), a subsidiary of Texaco Inc., was a minority member of this consortium with Petroecuador, the Ecuadorian state-owned oil company, as the majority partner; since 1990, the operations have been conducted solely by Petroecuador. At the conclusion of the consortium and following an independent third-party environmental audit of the concession area, Texpet entered into a formal agreement with the Republic of Ecuador and Petroecuador for Texpet to remediate specific sites assigned by the government in proportion to Texpet’s ownership share of the consortium. Pursuant to that agreement, Texpet conducted a three -year remediation program at a cost of $40 million . After certifying that the sites were properly remediated, the government granted Texpet and all related corporate entities a full release from any and all environmental liability arising from the consortium operations. Based on the history described above, Chevron believes that this lawsuit lacks legal or factual merit. As to matters of law, the company believes first, that the court lacks jurisdiction over Chevron; second, that the law under which plaintiffs bring the action, enacted in 1999, cannot be applied retroactively; third, that the claims are barred by the statute of limitations in Ecuador; and, fourth, that the lawsuit is also barred by the releases from liability previously given to Texpet by the Republic of Ecuador and Petroecuador and by the pertinent provincial and municipal governments. With regard to the facts, the company believes that the evidence confirms that Texpet’s remediation was properly conducted and that the remaining environmental damage reflects Petroecuador’s failure to timely fulfill its legal obligations and Petroecuador’s further conduct since assuming full control over the operations. Lago Agrio Judgment In 2008, a mining engineer appointed by the court to identify and determine the cause of environmental damage, and to specify steps needed to remediate it, issued a report recommending that the court assess $18.9 billion , which would, according to the engineer, provide financial compensation for purported damages, including wrongful death claims, and pay for, among other items, environmental remediation, health care systems and additional infrastructure for Petroecuador. The engineer’s report also asserted that an additional $8.4 billion could be assessed against Chevron for unjust enrichment. In 2009, following the disclosure by Chevron of evidence that the judge participated in meetings in which businesspeople and individuals holding themselves out as government officials discussed the case and its likely outcome, the judge presiding over the case was recused. In 2010, Chevron moved to strike the mining engineer’s report and to dismiss the case based on evidence obtained through discovery in the United States indicating that the report was prepared by consultants for the plaintiffs before being presented as the mining engineer’s independent and impartial work and showing further evidence of misconduct. In August 2010, the judge issued an order stating that he was not bound by the mining engineer’s report and requiring the parties to provide their positions on damages within 45 days . Chevron subsequently petitioned for recusal of the judge, claiming that he had disregarded evidence of fraud and misconduct and that he had failed to rule on a number of motions within the statutory time requirement. In September 2010, Chevron submitted its position on damages, asserting that no amount should be assessed against it. The plaintiffs’ submission, which relied in part on the mining engineer’s report, took the position that damages are between approximately $16 billion and $76 billion and that unjust enrichment should be assessed in an amount between approximately $5 billion and $38 billion . The next day, the judge issued an order closing the evidentiary phase of the case and notifying the parties that he had requested the case file so that he could prepare a judgment. Chevron petitioned to have that order declared a nullity in light of Chevron’s prior recusal petition, and because procedural and evidentiary matters remained unresolved. In October 2010, Chevron’s motion to recuse the judge was granted. A new judge took charge of the case and revoked the prior judge’s order closing the evidentiary phase of the case. On December 17, 2010, the judge issued an order closing the evidentiary phase of the case and notifying the parties that he had requested the case file so that he could prepare a judgment. On February 14, 2011, the provincial court in Lago Agrio rendered an adverse judgment in the case. The court rejected Chevron’s defenses to the extent the court addressed them in its opinion. The judgment assessed approximately $8.6 billion in damages and approximately $900 million as an award for the plaintiffs’ representatives. It also assessed an additional amount of approximately $8.6 billion in punitive damages unless the company issued a public apology within 15 days of the judgment, which Chevron did not do. On February 17, 2011, the plaintiffs appealed the judgment, seeking increased damages, and on March 11, 2011, Chevron appealed the judgment seeking to have the judgment nullified. On January 3, 2012, an appellate panel in the provincial court affirmed the February 14, 2011 decision and ordered that Chevron pay additional attorneys’ fees in the amount of “ 0.10% of the values that are derived from the decisional act of this judgment.” The plaintiffs filed a petition to clarify and amplify the appellate decision on January 6, 2012, and the court issued a ruling in response on January 13, 2012, purporting to clarify and amplify its January 3, 2012 ruling, which included clarification that the deadline for the company to issue a public apology to avoid the additional amount of approximately $8.6 billion in punitive damages was within 15 days of the clarification ruling, or February 3, 2012. Chevron did not issue an apology because doing so might be mischaracterized as an admission of liability and would be contrary to facts and evidence submitted at trial. On January 20, 2012, Chevron appealed (called a petition for cassation) the appellate panel’s decision to Ecuador’s National Court of Justice. As part of the appeal, Chevron requested the suspension of any requirement that Chevron post a bond to prevent enforcement under Ecuadorian law of the judgment during the cassation appeal. On February 17, 2012, the appellate panel of the provincial court admitted Chevron’s cassation appeal in a procedural step necessary for the National Court of Justice to hear the appeal. The provincial court appellate panel denied Chevron’s request for suspension of the requirement that Chevron post a bond and stated that it would not comply with the First and Second Interim Awards of the international arbitration tribunal discussed below. On March 29, 2012, the matter was transferred from the provincial court to the National Court of Justice, and on November 22, 2012, the National Court agreed to hear Chevron's cassation appeal. On August 3, 2012, the provincial court in Lago Agrio approved a court-appointed liquidator’s report on damages that calculated the total judgment in the case to be $19.1 billion . On November 13, 2013, the National Court ratified the judgment but nullified the $8.6 billion punitive damage assessment, resulting in a judgment of $9.5 billion . On December 23, 2013, Chevron appealed the decision to the Ecuador Constitutional Court, Ecuador's highest court. The reporting justice of the Constitutional Court heard oral arguments on the appeal on July 16, 2015. Lago Agrio Plaintiffs' Enforcement Actions Chevron has no assets in Ecuador and the Lago Agrio plaintiffs’ lawyers have stated in press releases and through other media that they will seek to enforce the Ecuadorian judgment in various countries and otherwise disrupt Chevron’s operations. On May 30, 2012, the Lago Agrio plaintiffs filed an action against Chevron Corporation, Chevron Canada Limited, and Chevron Canada Finance Limited in the Ontario Superior Court of Justice in Ontario, Canada, seeking to recognize and enforce the Ecuadorian judgment. On May 1, 2013, the Ontario Superior Court of Justice held that the Court has jurisdiction over Chevron and Chevron Canada Limited for purposes of the action, but stayed the action due to the absence of evidence that Chevron Corporation has assets in Ontario. The Lago Agrio plaintiffs appealed that decision and, on December 17, 2013, the Court of Appeals for Ontario affirmed the lower court’s decision on jurisdiction and set aside the stay, allowing the recognition and enforcement action to be heard in the Ontario Superior Court of Justice. Chevron appealed the decision to the Supreme Court of Canada and, on September 4, 2015, the Supreme Court dismissed the appeal and affirmed that the Ontario Superior Court of Justice has jurisdiction over Chevron and Chevron Canada Limited for purposes of the action. The recognition and enforcement proceeding and related preliminary motions are proceeding in the Ontario Superior Court of Justice. On January 20, 2017, the Ontario Superior Court of Justice granted Chevron Canada Limited’s and Chevron Corporation’s motions for summary judgment, concluding that the two companies are separate legal entities with separate rights and obligations. As a result, the Superior Court dismissed the recognition and enforcement claim against Chevron Canada Limited. Chevron Corporation still remains as a defendant in the action. On February 3, 2017, the Lago Agrio plaintiffs appealed the Superior Court's January 20, 2017 decision. On June 27, 2012, the Lago Agrio plaintiffs filed a complaint against Chevron Corporation in the Superior Court of Justice in Brasilia, Brazil, seeking to recognize and enforce the Ecuadorian judgment. Chevron has answered the complaint. In accordance with Brazilian procedure, the matter was referred to the public prosecutor for a nonbinding opinion of the issues raised in the complaint. On May 13, 2015, the public prosecutor issued its nonbinding opinion and recommended that the Superior Court of Justice reject the plaintiffs’ recognition and enforcement request, finding, among other things, that the Lago Agrio judgment was procured through fraud and corruption and cannot be recognized in Brazil because it violates Brazilian and international public order. On November 29, 2017, the Superior Court of Justice issued a decision dismissing the Lago Agrio plaintiffs’ recognition and enforcement proceeding based on jurisdictional grounds. On October 15, 2012, the provincial court in Lago Agrio issued an ex parte embargo order that purports to order the seizure of assets belonging to separate Chevron subsidiaries in Ecuador, Argentina and Colombia. On November 6, 2012, at the request of the Lago Agrio plaintiffs, a court in Argentina issued a Freeze Order against Chevron Argentina S.R.L. and another Chevron subsidiary, Ingeniero Norberto Priu, requiring shares of both companies to be "embargoed," requiring third parties to withhold 40 percent of any payments due to Chevron Argentina S.R.L. and ordering banks to withhold 40 percent of the funds in Chevron Argentina S.R.L. bank accounts. On December 14, 2012, the Argentinean court rejected a motion to revoke the Freeze Order but modified it by ordering that third parties are not required to withhold funds but must report their payments. The court also clarified that the Freeze Order relating to bank accounts excludes taxes. On January 30, 2013, an appellate court upheld the Freeze Order, but on June 4, 2013, the Supreme Court of Argentina revoked the Freeze Order in its entirety. On December 12, 2013, the Lago Agrio plaintiffs served Chevron with notice of their filing of an enforcement proceeding in the National Court, First Instance, of Argentina. Chevron filed its answer on February 27, 2014 to which the Lago Agrio plaintiffs responded on December 29, 2015. On April 19, 2016, the public prosecutor in Argentina issued a non-binding opinion recommending to the National Court, First Instance, of Argentina that it reject the Lago Agrio plaintiffs' request to recognize the Ecuadorian judgment in Argentina. On February 24, 2017, the public prosecutor in Argentina issued a supplemental opinion reaffirming its previous recommendations. On November 1, 2017, the National Court, First Instance, of Argentina issued a decision dismissing the Lago Agrio plaintiffs' recognition and enforcement proceeding based on jurisdictional grounds. On November 2, 2017, the Lago Agrio plaintiffs appealed this decision to the Federal Civil Court of Appeals. Chevron continues to believe the provincial court’s judgment is illegitimate and unenforceable in Ecuador, the United States and other countries. The company also believes the judgment is the product of fraud, and contrary to the legitimate scientific evidence. Chevron cannot predict the timing or ultimate outcome of the appeals process in Ecuador or any enforcement action. Chevron expects to continue a vigorous defense of any imposition of liability in the Ecuadorian courts and to contest and defend any and all enforcement actions. Company's Bilateral Investment Treaty Arbitration Claims Chevron and Texpet filed an arbitration claim in September 2009 against the Republic of Ecuador before an arbitral tribunal presiding in the Permanent Court of Arbitration in The Hague under the Rules of the United Nations Commission on International Trade Law. The claim alleges violations of the Republic of Ecuador’s obligations under the United States–Ecuador Bilateral Investment Treaty (BIT) and breaches of the settlement and release agreements between the Republic of Ecuador and Texpet (described above), which are investment agreements protected by the BIT. Through the arbitration, Chevron and Texpet are seeking relief against the Republic of Ecuador, including a declaration that any judgment against Chevron in the Lago Agrio litigation constitutes a violation of Ecuador’s obligations under the BIT. On January 25, 2012, the Tribunal issued its First Interim Measures Award requiring the Republic of Ecuador to take all measures at its disposal to suspend or cause to be suspended the enforcement or recognition within and without Ecuador of any judgment against Chevron in the Lago Agrio case pending further order of the Tribunal. On February 16, 2012, the Tribunal issued a Second Interim Award mandating that the Republic of Ecuador take all measures necessary (whether by its judicial, legislative or executive branches) to suspend or cause to be suspended the enforcement and recognition within and without Ecuador of the judgment against Chevron. On February 27, 2012, the Tribunal issued a Third Interim Award confirming its jurisdiction to hear Chevron's arbitration claims. On February 7, 2013, the Tribunal issued its Fourth Interim Award in which it declared that the Republic of Ecuador “has violated the First and Second Interim Awards under the [BIT], the UNCITRAL Rules and international law in regard to the finalization and enforcement subject to execution of the Lago Agrio Judgment within and outside Ecuador, including (but not limited to) Canada, Brazil and Argentina.” The Republic of Ecuador subsequently filed in the District Court of the Hague a request to set aside the Tribunal’s Interim Awards and the First Partial Award (described below), and on January 20, 2016, the District Court denied the Republic's request. On April 13, 2016, the Republic of Ecuador appealed the decision. On July 18, 2017, the Appeals Court of the Hague denied the Republic's appeal. On October 18, 2017, the Republic appealed the decision of the Appeals Court of the Hague to the Supreme Court of the Netherlands. The Tribunal has divided the merits phase of the proceeding into three phases. On September 17, 2013, the Tribunal issued its First Partial Award from Phase One, finding that the settlement agreements between the Republic of Ecuador and Texpet applied to Texpet and Chevron, released Texpet and Chevron from claims based on "collective" or "diffuse" rights arising from Texpet's operations in the former concession area and precluded third parties from asserting collective/diffuse rights environmental claims relating to Texpet's operations in the former concession area but did not preclude individual claims for personal harm. The Tribunal held a hearing on April 29-30, 2014, to address remaining issues relating to Phase One, and on March 12, 2015, it issued a nonbinding decision that the Lago Agrio plaintiffs' complaint, on its face, includes claims not barred by the settlement agreement between the Republic of Ecuador and Texpet. In the same decision, the Tribunal deferred to Phase Two remaining issues from Phase One, including whether the Republic of Ecuador breached the 1995 settlement agreement and the remedies that are available to Chevron and Texpet as a result of that breach. Phase Two issues were addressed at a hearing held in April and May 2015. The Tribunal has not set a date for Phase Three, the damages phase of the arbitration. Company's RICO Action Through a series of U.S. court proceedings initiated by Chevron to obtain discovery relating to the Lago Agrio litigation and the BIT arbitration, Chevron obtained evidence that it believes shows a pattern of fraud, collusion, corruption, and other misconduct on the part of several lawyers, consultants and others acting for the Lago Agrio plaintiffs. In February 2011, Chevron filed a civil lawsuit in the Federal District Court for the Southern District of New York against the Lago Agrio plaintiffs and several of their lawyers, consultants and supporters, alleging violations of the Racketeer Influenced and Corrupt Organizations Act and other state laws. Through the civil lawsuit, Chevron sought relief that included a declaration that any judgment against Chevron in the Lago Agrio litigation is the result of fraud and other unlawful conduct and is therefore unenforceable. The trial commenced on October 15, 2013 and concluded on November 22, 2013. On March 4, 2014, the Federal District Court entered a judgment in favor of Chevron, prohibiting the defendants from seeking to enforce the Lago Agrio judgment in the United States and further prohibiting them from profiting from their illegal acts. The defendants appealed the Federal District Court's decision, and, on April 20, 2015, a panel of the U.S. Court of Appeals for the Second Circuit heard oral arguments. On August 8, 2016, the Second Circuit issued a unanimous opinion affirming in full the judgment of the Federal District Court in favor of Chevron. On October 27, 2016, the Second Circuit denied the defendants' petitions for en banc rehearing of the opinion on their appeal. On March 27, 2017 , two of the defendants filed a petition for a Writ of Certiorari to the United States Supreme Court. On June 19, 2017, the United States Supreme Court denied the defendants' petition for a Writ of Certiorari. Management's Assessment The ultimate outcome of the foregoing matters, including any financial effect on Chevron, remains uncertain. Management does not believe an estimate of a reasonably possible loss (or a range of loss) can be made in this case. Due to the defects associated with the Ecuadorian judgment, the 2008 engineer’s report on alleged damages and the September 2010 plaintiffs’ submission on alleged damages, management does not believe these documents have any utility in calculating a reasonably possible loss (or a range of loss). Moreover, the highly uncertain legal environment surrounding the case provides no basis for management to estimate a reasonably possible loss (or a range of loss).

Other Contingencies and Commitm

Other Contingencies and Commitments	3 Months Ended
	Mar. 31, 2018
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 11 on page 16 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 arrangements, the company would generally be required to perform should the affiliated company or third party fail to fulfill its obligations under the arrangements. In some cases, the guarantee arrangements may have recourse provisions that would enable the company to recover any payments made under the terms of the guarantees from assets provided as collateral. Indemnifications In the acquisition of Unocal, the company assumed certain indemnities relating to contingent environmental liabilities associated with assets that were sold in 1997. The acquirer of those assets shared in certain environmental remediation costs up to a maximum obligation of $200 million , which had been reached at December 31, 2009. Under the indemnification agreement, after reaching the $200 million obligation, Chevron is solely responsible until April 2022, when the indemnification expires. The environmental conditions or events that are subject to these indemnities must have arisen prior to the sale of the assets in 1997. Although the company has provided for known obligations under this indemnity that are probable and reasonably estimable, the amount of additional future costs may be material to results of operations in the period in which they are recognized. The company does not expect these costs will have a material effect on its consolidated financial position or liquidity. Off-Balance-Sheet Obligations 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 relate to suppliers’ financing arrangements. The agreements typically provide goods and services, such as pipeline and storage capacity, drilling rigs, 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, including MTBE, by the company or other parties. Such contingencies may exist for various sites, including, but not limited to, federal Superfund sites and analogous sites under state laws, refineries, crude oil fields, service stations, terminals, land development areas, and mining activities, whether operating, closed or divested. These 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. Although the company has provided for known environmental obligations that are probable and reasonably estimable, the amount of additional future costs may be material to results of operations in the period in which they are recognized. The company does not expect these costs will have a material effect on its consolidated financial position or liquidity. Also, the company does not believe its obligations to make such expenditures have had, or will have, any significant impact on the company’s competitive position relative to other U.S. or international petroleum or chemical companies. Other Contingencies Governmental entities in California and other jurisdictions have filed legal proceedings against fossil fuel producing companies, including Chevron, purporting to seek legal and equitable relief to address alleged impacts of climate change. Further such proceedings are likely to be filed by other parties. The unprecedented legal theories set forth in these proceedings entail the possibility of damages liability and injunctions against the production of all fossil fuels that, while we believe remote, could have a material adverse effect on the Company’s results of operations and financial condition. 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. 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, abandon, 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	3 Months Ended
	Mar. 31, 2018
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 on a recurring basis at March 31, 2018 , and December 31, 2017 , is as follows: Assets and Liabilities Measured at Fair Value on a Recurring Basis (Millions of dollars) At March 31, 2018 At December 31, 2017 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Marketable Securities $ 38 $ 38 $ — $ — $ 9 $ 9 $ — $ — Derivatives 7 — 7 — 22 — 22 — Total Assets at Fair Value $ 45 $ 38 $ 7 $ — $ 31 $ 9 $ 22 $ — Derivatives 95 64 31 — 124 78 46 — Total Liabilities at Fair Value $ 95 $ 64 $ 31 $ — $ 124 $ 78 $ 46 $ — 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 March 31, 2018 . Derivatives The company records its derivative instruments — other than any commodity derivative contracts that are designated as normal purchase and normal sale — on the Consolidated Balance Sheet at fair value, with the offsetting amount to the Consolidated Statement of Income. Derivatives classified as Level 1 include futures, swaps and options contracts traded in active markets such as the New York Mercantile Exchange. Derivatives classified as Level 2 include swaps, options and forward contracts principally with financial institutions and other oil and gas companies, 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 carried at fair value at March 31, 2018 , and December 31, 2017 , 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 $6.5 billion and $4.8 billion at March 31, 2018 , and December 31, 2017 , 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 March 31, 2018 . Restricted Cash had a carrying/fair value of $1.1 billion and $1.1 billion at March 31, 2018 , and December 31, 2017 , respectively. At March 31, 2018 , restricted cash is classified as Level 1 and includes restricted funds related to certain upstream abandonment activities, tax payments and refundable deposits related to pending asset sales, 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, of $21.1 billion and $23.5 billion at March 31, 2018 , and December 31, 2017 , respectively. The fair value of long-term debt at March 31, 2018 , and December 31, 2017 was $21.1 billion and $23.9 billion , respectively. Long-term debt primarily includes corporate issued bonds. The fair value of corporate bonds classified as Level 1 is $20.4 billion . The fair value of other long-term debt classified as Level 2 is $0.7 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 March 31, 2018 , and December 31, 2017 , were not material. The fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis at March 31, 2018 , is as follows: Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Millions of dollars) At March 31, 2018 Total Level 1 Level 2 Level 3 Before-Tax Loss Properties, plant and equipment, net (held and used) $ — $ — $ — $ — $ — Properties, plant and equipment, net (held for sale) 631 — 631 — 163 Investments and advances 1 — — 1 1 Total Assets at Fair Value $ 632 $ — $ 631 $ 1 $ 164 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 in first quarter 2018 . Investments and advances The company did not have any material impairments of investments and advances measured at fair value on a nonrecurring basis to report in first quarter 2018 .

Financial and Derivative Instru

Financial and Derivative Instruments	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial and Derivative Instruments	Financial and Derivative Instruments The company’s derivative instruments principally include crude oil, natural gas and refined product futures, swaps, options, and forward contracts. None of the company’s derivative instruments are designated as hedging instruments, although certain of the company’s affiliates make such a designation. 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 derivative commodity 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 March 31, 2018 , and December 31, 2017 , and their classification on the Consolidated Balance Sheet and Consolidated Statement of Income are as follows: Consolidated Balance Sheet: Fair Value of Derivatives Not Designated as Hedging Instruments (Millions of dollars) Type of Contract Balance Sheet Classification At March 31 At December 31 Commodity Accounts and notes receivable, net $ 7 $ 22 Commodity Long-term receivables, net — — Total Assets at Fair Value $ 7 $ 22 Commodity Accounts payable $ 90 $ 122 Commodity Deferred credits and other noncurrent obligations 5 2 Total Liabilities at Fair Value $ 95 $ 124 Consolidated Statement of Income: The Effect of Derivatives Not Designated as Hedging Instruments (Millions of dollars) (Loss) / Gain Type of Contract Statement of Income Classification 2018 2017 Commodity Sales and other operating revenues $ (12 ) $ 162 Commodity Purchased crude oil and products (9 ) 4 Commodity Other income — (2 ) $ (21 ) $ 164 The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at March 31, 2018 , and December 31, 2017 . Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities (Millions of dollars) Gross Amount Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amount At March 31, 2018 Derivative Assets $ 1,180 $ 1,173 $ 7 $ — $ 7 Derivative Liabilities $ 1,268 $ 1,173 $ 95 $ — $ 95 At December 31, 2017 Derivative Assets $ 1,169 $ 1,147 $ 22 $ — $ 22 Derivative Liabilities $ 1,271 $ 1,147 $ 124 $ — $ 124 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	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue	Revenue On January 1, 2018, Chevron adopted ASU 2014-09, Revenue from Contracts with Customers (ASC 606) , and its related amendments using the modified retrospective transition method, which did not require the restatement of prior periods. The adoption did not result in a material change in the company’s accounting or have a material effect on the company’s financial position, including the measurement of revenue, the timing of revenue recognition and the recognition of contract assets, liabilities and related costs. The most significant change is the presentation of excise, value-added and similar taxes collected on behalf of third parties, which are no longer presented within “Sales and other operating revenue” on the Consolidated Statement of Income starting in 2018. These taxes, which totaled $1.9 billion in the three months ended March 31, 2018, are now netted in “Taxes other than on income” in the Consolidated Statement of Income. This change to presentation had no impact on earnings. In the three months ended March 31, 2017, these taxes totaled $1.7 billion . Under the new standard, the company accounts for commodity delivery orders as separate performance obligations. Revenue is recognized when the performance obligation is satisfied, which continues to typically occur at the point in time when control of the product transfers to the customer. Payment is generally due within 30 days from delivery. The company has elected to account for delivery transportation as a fulfillment cost, not a separate performance obligation. These costs continue to be recognized as an operating expense in the period when revenue for the related commodity is recognized. Revenue is measured as the amount the company expects to receive in exchange for transferring commodities to the customer. The company’s commodity sales are typically based on prevailing market-based prices and may include discounts and allowances. Until market prices become known under terms of the company’s contracts, the transaction price included in revenue is based on the company’s estimate of the most likely outcome. Discounts and allowances are estimated using a combination of historical and recent data trends. When deliveries contain multiple products, an observable standalone selling price is generally used to measure revenue for each product. The company includes estimates in the transaction price only to the extent that a significant reversal of revenue is not probable in subsequent periods. The company applied the optional exemption to not report any unfulfilled performance obligations related to contracts that have terms of less than one year. The amount of future revenue for unfulfilled performance obligations under long-term contracts with fixed components was insignificant for the three months ended March 31, 2018. Revenue from contracts with customers is presented in “Sales and other operating revenue” along with some activity that is accounted for outside the scope of ASC 606, which is not material to this line, on the Consolidated Statement of Income. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another (including buy/sell arrangements) are combined and recorded on a net basis and reported in “purchased crude oil and products” on the Consolidated Statement of Income. Refer to Note 6 - Operating Segments and Geographical Data beginning on page 11 for additional information on the company’s segmentation of revenue. Receivables related to revenue from contracts with customers are included in “Accounts and notes receivable, net” on the Consolidated Balance Sheet, net of the allowance for doubtful accounts. The net balance of these receivables was $9.8 billion and $10.5 billion at January 1, 2018 and March 31, 2018, 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, Revenue from Contracts with Customers. Contract assets and related costs are reflected in “Prepaid expenses and other current assets” and contract liabilities are reflected in “Accrued liabilities” and “Deferred credits and other noncurrent obligations” on the Consolidated Balance Sheet. Amounts for these items are not material to the company’s financial position.

New Accounting Standards (Polic

New Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Standards	Revenue Recognition (Topic 606): Revenue from Contracts with Customers On January 1, 2018, Chevron adopted ASU 2014-09 and its related amendments using the modified retrospective transition method, which did not require the restatement of prior periods. The impact of the adoption of the standard did not have a material effect on the company’s consolidated financial statements. For additional information on the company’s revenue, refer to Note 17 beginning on page 24 . Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments Effective January 1, 2018, Chevron adopted ASU 2016-15 on a retrospective basis. The standard provides clarification on how certain cash receipts and cash payments are presented and classified on the statement of cash flows. The adoption of this ASU did not have a material impact on the company's Consolidated Statement of Cash Flows. For additional information, refer to Note 4 beginning on page 8 . Statement of Cash Flows (Topic 230): Restricted Cash Effective January 1, 2018, Chevron adopted ASU 2016-18 on a retrospective basis. The standard requires an entity to explain the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents on the statement of cash flows and to provide a reconciliation to the balance sheet when the cash, cash equivalents, restricted cash and restricted cash equivalents are not separately presented or are presented in more than one line item on the balance sheet. The company’s restricted cash balances are now included in the beginning and ending balances on the Consolidated Statement of Cash Flows. For additional information, refer to Note 4 beginning on page 8 . Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20) On January 1, 2018, the company adopted ASU 2017-05 which provides clarification regarding the guidance on accounting for the derecognition of nonfinancial assets. The adoption of the standard had no impact on the company’s consolidated financial statements. Compensation - Retirement Benefits (Topic 715 ): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost Effective January 1, 2018, Chevron adopted ASU 2017-07 on a retrospective basis. The standard requires the disaggregation of the service cost component from the other components of net periodic benefit cost and allows only the service cost component of net benefit cost to be eligible for capitalization. The effects of retrospective adoption on the Consolidated Statement of Income for the period ended March 31, 2017 were to move $ 70 million from "Operating expenses" and $ 60 million from "Selling, general and administrative expenses" to "Other components of net periodic benefits cost." Leases (Topic 842) In February 2016, the FASB issued ASU 2016-02 which becomes effective for the company January 1, 2019. The standard requires that lessees present right-of-use assets and lease liabilities on the balance sheet. The company is evaluating the effect of the standard on its consolidated financial statements. Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued ASU 2018-02, which becomes effective for the company January 1, 2019. The standard permits companies to reclassify the tax effects stranded in accumulated other comprehensive income as a result of tax reform to retained earnings and also requires additional new disclosures. The company is evaluating the effect of the standard on its consolidated financial statements. Financial Instruments - Credit Losses (Topic 326) In June 2016, the FASB issued ASU 2016-13, which becomes effective for the company beginning January 1, 2020. The standard requires companies to use forward-looking information to calculate credit loss estimates. The company is evaluating the effect of the standard on its consolidated financial statements.
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 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).
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. 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.
Revenue	On January 1, 2018, Chevron adopted ASU 2014-09, Revenue from Contracts with Customers (ASC 606) , and its related amendments using the modified retrospective transition method, which did not require the restatement of prior periods. The adoption did not result in a material change in the company’s accounting or have a material effect on the company’s financial position, including the measurement of revenue, the timing of revenue recognition and the recognition of contract assets, liabilities and related costs. The most significant change is the presentation of excise, value-added and similar taxes collected on behalf of third parties, which are no longer presented within “Sales and other operating revenue” on the Consolidated Statement of Income starting in 2018. These taxes, which totaled $1.9 billion in the three months ended March 31, 2018, are now netted in “Taxes other than on income” in the Consolidated Statement of Income. This change to presentation had no impact on earnings. In the three months ended March 31, 2017, these taxes totaled $1.7 billion . Under the new standard, the company accounts for commodity delivery orders as separate performance obligations. Revenue is recognized when the performance obligation is satisfied, which continues to typically occur at the point in time when control of the product transfers to the customer. Payment is generally due within 30 days from delivery. The company has elected to account for delivery transportation as a fulfillment cost, not a separate performance obligation. These costs continue to be recognized as an operating expense in the period when revenue for the related commodity is recognized. Revenue is measured as the amount the company expects to receive in exchange for transferring commodities to the customer. The company’s commodity sales are typically based on prevailing market-based prices and may include discounts and allowances. Until market prices become known under terms of the company’s contracts, the transaction price included in revenue is based on the company’s estimate of the most likely outcome. Discounts and allowances are estimated using a combination of historical and recent data trends. When deliveries contain multiple products, an observable standalone selling price is generally used to measure revenue for each product. The company includes estimates in the transaction price only to the extent that a significant reversal of revenue is not probable in subsequent periods. The company applied the optional exemption to not report any unfulfilled performance obligations related to contracts that have terms of less than one year. The amount of future revenue for unfulfilled performance obligations under long-term contracts with fixed components was insignificant for the three months ended March 31, 2018. Revenue from contracts with customers is presented in “Sales and other operating revenue” along with some activity that is accounted for outside the scope of ASC 606, which is not material to this line, on the Consolidated Statement of Income. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another (including buy/sell arrangements) are combined and recorded on a net basis and reported in “purchased crude oil and products” on the Consolidated Statement of Income. Refer to Note 6 - Operating Segments and Geographical Data beginning on page 11 for additional information on the company’s segmentation of revenue. Receivables related to revenue from contracts with customers are included in “Accounts and notes receivable, net” on the Consolidated Balance Sheet, net of the allowance for doubtful accounts. The net balance of these receivables was $9.8 billion and $10.5 billion at January 1, 2018 and March 31, 2018, 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, Revenue from Contracts with Customers. Contract assets and related costs are reflected in “Prepaid expenses and other current assets” and contract liabilities are reflected in “Accrued liabilities” and “Deferred credits and other noncurrent obligations” on the Consolidated Balance Sheet. Amounts for these items are not material to the company’s financial position.

Changes in Accumulated Other 26

Changes in Accumulated Other Comprehensive Losses (Tables)	3 Months Ended
	Mar. 31, 2018
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 three months ending March 31, 2018 , are reflected in the table below. Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) Three Months Ended March 31, 2018 Currency Translation Adjustment Unrealized Holding Gains (Losses) on Securities Derivatives Defined Benefit Plans Total (Millions of dollars) Balance at January 1 $ (105 ) $ (5 ) $ (2 ) $ (3,477 ) $ (3,589 ) Components of Other Comprehensive Income (Loss): Before Reclassifications 10 (1 ) — 5 14 Reclassifications (2) — — — 116 116 Net Other Comprehensive Income (Loss) 10 (1 ) — 121 130 Balance at March 31 $ (95 ) $ (6 ) $ (2 ) $ (3,356 ) $ (3,459 ) ________________________________ (1) All amounts are net of tax. (2) Refer to Note 10, Employee Benefits for reclassified components totaling $153 million that are included in employee benefit costs for the three months ending March 31, 2018 . Related income taxes for the same period, totaling $37 million , are reflected in "Income Tax Expense" on the Consolidated Statement of Income. All other reclassified amounts were insignificant.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interest [Abstract]
Activity for equity attributable to noncontrolling interests	Activity for the equity attributable to noncontrolling interests for the first three months of 2018 and 2017 is as follows: 2018 2017 Chevron Corporation Stockholders’ Equity Non-controlling Interest Total Equity Chevron Corporation Stockholders’ Equity Non-controlling Interest Total Equity (Millions of dollars) Balance at January 1 $ 148,124 $ 1,195 $ 149,319 $ 145,556 $ 1,166 $ 146,722 Net income 3,638 21 3,659 2,682 17 2,699 Dividends (2,124 ) — (2,124 ) (2,030 ) — (2,030 ) Distributions to noncontrolling interests — (11 ) (11 ) — — — Treasury shares, net 474 — 474 231 — 231 Other changes, net* 244 5 249 153 15 168 Balance at March 31 $ 150,356 $ 1,210 $ 151,566 $ 146,592 $ 1,198 $ 147,790 __________________________________________ * Includes components of comprehensive income, which are disclosed separately in the Consolidated Statement of Comprehensive Income.

Information Relating to the C28

Information Relating to the Consolidated Statement of Cash Flows (Tables)	3 Months Ended
	Mar. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Net increase in operating working capital	The “Net increase in operating working capital” was composed of the following operating changes: Three Months Ended 2018 2017 (Millions of dollars) (Increase) decrease in accounts and notes receivable $ (335 ) $ 317 Increase in inventories (543 ) (550 ) (Increase) decrease in prepaid expenses and other current assets 1 (608 ) 26 Decrease in accounts payable and accrued liabilities 1 (807 ) (1,090 ) Increase in income and other taxes payable 189 245 Net increase in operating working capital 1 $ (2,104 ) $ (1,052 ) ____________________ 1 2017 adjusted to conform to Accounting Standards Update 2016-18.
Cash payment for interest on debt and for income taxes	“Net Cash Provided by Operating Activities” included the following cash payments for interest on debt and for income taxes: Three Months Ended 2018 2017 (Millions of dollars) Interest on debt (net of capitalized interest) $ 105 $ — Income taxes 843 494
Net sales of marketable securities	The “Net (purchases) sales of marketable securities” consisted of the following gross amounts: Three Months Ended 2018 2017 (Millions of dollars) Marketable securities purchased $ (29 ) $ — Marketable securities sold — 2 Net (purchases) sales of marketable securities $ (29 ) $ 2
Schedule of net borrowing of loans by equity affiliates	The “Net repayment (borrowing) of loans by equity affiliates” consisted of the following gross amounts: Three Months Ended 2018 2017 (Millions of dollars) Borrowing of loans by equity affiliates $ — $ (70 ) Repayment of loans by equity affiliates 26 64 Net repayment (borrowing) of loans by equity affiliates $ 26 $ (6 )
Schedule of short-term debt	The “Net borrowings (repayments) of short-term obligations" consisted of the following gross and net amounts: Three Months Ended 2018 2017 (Millions of dollars) Repayments of short-term obligations $ (1,377 ) $ (2,952 ) Proceeds from issuances of short-term obligations 658 3,415 Net borrowings of short-term obligations with three months or less maturity 3,933 (4,391 ) Net borrowings (repayments) of short-term obligations $ 3,214 $ (3,928 )
Capital expenditures	The major components of “Capital expenditures” and the reconciliation of this amount to the capital and exploratory expenditures, including equity affiliates, are as follows: Three Months Ended 2018 2017 (Millions of dollars) Additions to properties, plant and equipment $ 2,937 $ 3,305 Additions to investments 15 3 Current year dry hole expenditures 45 7 Capital expenditures 2,997 3,315 Expensed exploration expenditures 113 137 Assets acquired through capital lease obligations — 1 Capital and exploratory expenditures, excluding equity affiliates 3,110 3,453 Company’s share of expenditures by equity affiliates 1,295 939 Capital and exploratory expenditures, including equity affiliates $ 4,405 $ 4,392
Schedule of cash, cash equivalents and restricted cash	The table on the next page quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet: At March 31 At December 31 2018 2017 2017 2016 (Millions of dollars) (Millions of dollars) Cash and Cash Equivalents $ 6,466 $ 6,983 $ 4,813 $ 6,988 Restricted cash included in "Prepaid expenses and other current assets" 316 306 405 488 Restricted cash included in "Deferred charges and other assets" 735 784 725 938 Total Cash, Cash Equivalents and Restricted Cash $ 7,517 $ 8,073 $ 5,943 $ 8,414

Operating Segments and Geogra29

Operating Segments and Geographic Data (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Earnings	Earnings by major operating area for the three-month periods ended March 31, 2018 and 2017 , are presented in the following table: Three Months Ended Segment Earnings 2018 2017 (Millions of dollars) Upstream United States $ 648 $ 80 International 2,704 1,437 Total Upstream 3,352 1,517 Downstream United States 442 469 International 286 457 Total Downstream 728 926 Total Segment Earnings 4,080 2,443 All Other Interest expense (149 ) (43 ) Interest income 19 15 Other (312 ) 267 Net Income Attributable to Chevron Corporation $ 3,638 $ 2,682
Segment Assets	Segment assets at March 31, 2018 , and December 31, 2017 , are as follows: Segment Assets At March 31 At December 31 (Millions of dollars) Upstream United States $ 41,791 $ 40,770 International 159,071 159,612 Goodwill 4,531 4,531 Total Upstream 205,393 204,913 Downstream United States 23,862 23,202 International 17,200 17,434 Total Downstream 41,062 40,636 Total Segment Assets 246,455 245,549 All Other United States 5,682 4,938 International 4,305 3,319 Total All Other 9,987 8,257 Total Assets — United States 71,335 68,910 Total Assets — International 180,576 180,365 Goodwill 4,531 4,531 Total Assets $ 256,442 $ 253,806
Segment Sales and Other Operating Revenues	Three Months Ended Sales and Other Operating Revenues 2018 2017 (Millions of dollars) Upstream United States $ 4,577 $ 3,240 International 8,656 6,581 Subtotal 13,233 9,821 Intersegment Elimination — United States (2,757 ) (2,241 ) Intersegment Elimination — International (3,215 ) (2,720 ) Total Upstream 7,261 4,860 Downstream * United States 13,042 12,432 International 15,935 14,513 Subtotal 28,977 26,945 Intersegment Elimination — United States (3 ) (3 ) Intersegment Elimination — International (328 ) (330 ) Total Downstream 28,646 26,612 All Other United States 227 235 International 3 5 Subtotal 230 240 Intersegment Elimination — United States (166 ) (183 ) Intersegment Elimination — International (3 ) (5 ) Total All Other 61 52 Sales and Other Operating Revenues United States 17,846 15,907 International 24,594 21,099 Subtotal 42,440 37,006 Intersegment Elimination — United States (2,926 ) (2,427 ) Intersegment Elimination — International (3,546 ) (3,055 ) Total Sales and Other Operating Revenues $ 35,968 $ 31,524 _____________________________ * 2017 includes excise, value-added and similar taxes of $1,677 million collected on behalf of third parties. Beginning in 2018, these taxes are netted in "Taxes other than on income" in accordance with ASU 2014-09. Refer to Note 17, "Revenue" beginning on page 24.

Summarized Financial Data - C30

Summarized Financial Data - Chevron U.S.A. Inc. (Tables)	3 Months Ended
	Mar. 31, 2018
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: Three Months Ended 2018 2017 (Millions of dollars) Sales and other operating revenues * $ 28,058 $ 24,408 Costs and other deductions * 27,596 24,099 Net income attributable to CUSA 697 421 _____________________________ * 2017 includes excise, value-added and similar taxes collected on behalf of third parties of $1,207 million. Beginning in 2018, these taxes are netted in "Taxes other than on income" in accordance with ASU 2014-09.
Summarized Financial Data and its Subsidiary	At March 31 At December 31 (Millions of dollars) Current assets $ 13,406 $ 12,163 Other assets 55,482 54,994 Current liabilities 17,606 17,379 Other liabilities 12,623 12,541 Total CUSA net equity $ 38,659 $ 37,237 Memo: Total debt $ 3,050 $ 3,056

Summarized Financial Data - T31

Summarized Financial Data - Tengizchevroil LLP (Tables)	3 Months Ended
	Mar. 31, 2018
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: Three Months Ended 2018 2017 (Millions of dollars) Sales and other operating revenues $ 4,325 $ 3,395 Costs and other deductions 1,942 1,754 Net income attributable to TCO 1,679 1,158 Summarized financial information for 100 percent of CPChem is presented in the table below : Three Months Ended 2018 2017 (Millions of dollars) Sales and other operating revenues $ 2,577 $ 2,445 Costs and other deductions 2,151 2,019 Net income attributable to CPChem 585 503

Summarized Financial Data - C32

Summarized Financial Data - Chevron Phillips Chemical Company LLC (Tables)	3 Months Ended
	Mar. 31, 2018
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: Three Months Ended 2018 2017 (Millions of dollars) Sales and other operating revenues $ 4,325 $ 3,395 Costs and other deductions 1,942 1,754 Net income attributable to TCO 1,679 1,158 Summarized financial information for 100 percent of CPChem is presented in the table below : Three Months Ended 2018 2017 (Millions of dollars) Sales and other operating revenues $ 2,577 $ 2,445 Costs and other deductions 2,151 2,019 Net income attributable to CPChem 585 503

Employee Benefits (Tables)

Employee Benefits (Tables)	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The components of net periodic benefit costs for 2018 and 2017 are as follows: Three Months Ended 2018 2017 (Millions of dollars) Pension Benefits United States Service cost $ 120 $ 122 Interest cost 92 91 Expected return on plan assets (159 ) (149 ) Amortization of prior service credits 1 (1 ) Amortization of actuarial losses 76 85 Settlement losses 66 78 Total United States 196 226 International Service cost 40 37 Interest cost 46 53 Expected return on plan assets (66 ) (58 ) Amortization of prior service costs 2 3 Amortization of actuarial losses 11 9 Settlement losses — — Total International 33 44 Net Periodic Pension Benefit Costs $ 229 $ 270 Other Benefits* Service cost $ 13 $ 8 Interest cost 21 23 Amortization of prior service costs (7 ) (7 ) Amortization of actuarial losses 4 (1 ) Net Periodic Other Benefit Costs $ 31 $ 23 ___________________________________ * 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.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
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 on a recurring basis at March 31, 2018 , and December 31, 2017 , is as follows: Assets and Liabilities Measured at Fair Value on a Recurring Basis (Millions of dollars) At March 31, 2018 At December 31, 2017 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Marketable Securities $ 38 $ 38 $ — $ — $ 9 $ 9 $ — $ — Derivatives 7 — 7 — 22 — 22 — Total Assets at Fair Value $ 45 $ 38 $ 7 $ — $ 31 $ 9 $ 22 $ — Derivatives 95 64 31 — 124 78 46 — Total Liabilities at Fair Value $ 95 $ 64 $ 31 $ — $ 124 $ 78 $ 46 $ —
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 March 31, 2018 , is as follows: Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis (Millions of dollars) At March 31, 2018 Total Level 1 Level 2 Level 3 Before-Tax Loss Properties, plant and equipment, net (held and used) $ — $ — $ — $ — $ — Properties, plant and equipment, net (held for sale) 631 — 631 — 163 Investments and advances 1 — — 1 1 Total Assets at Fair Value $ 632 $ — $ 631 $ 1 $ 164

Financial and Derivative Inst35

Financial and Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 , and December 31, 2017 , and their classification on the Consolidated Balance Sheet and Consolidated Statement of Income are as follows: Consolidated Balance Sheet: Fair Value of Derivatives Not Designated as Hedging Instruments (Millions of dollars) Type of Contract Balance Sheet Classification At March 31 At December 31 Commodity Accounts and notes receivable, net $ 7 $ 22 Commodity Long-term receivables, net — — Total Assets at Fair Value $ 7 $ 22 Commodity Accounts payable $ 90 $ 122 Commodity Deferred credits and other noncurrent obligations 5 2 Total Liabilities at Fair Value $ 95 $ 124
Consolidated Statement of Income: The Effect of Derivatives Not Designated as Hedging Instruments	Consolidated Statement of Income: The Effect of Derivatives Not Designated as Hedging Instruments (Millions of dollars) (Loss) / Gain Type of Contract Statement of Income Classification 2018 2017 Commodity Sales and other operating revenues $ (12 ) $ 162 Commodity Purchased crude oil and products (9 ) 4 Commodity Other income — (2 ) $ (21 ) $ 164
Schedule of Offsetting Assets	The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at March 31, 2018 , and December 31, 2017 . Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities (Millions of dollars) Gross Amount Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amount At March 31, 2018 Derivative Assets $ 1,180 $ 1,173 $ 7 $ — $ 7 Derivative Liabilities $ 1,268 $ 1,173 $ 95 $ — $ 95 At December 31, 2017 Derivative Assets $ 1,169 $ 1,147 $ 22 $ — $ 22 Derivative Liabilities $ 1,271 $ 1,147 $ 124 $ — $ 124
Schedule of Offsetting Liabilities	The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at March 31, 2018 , and December 31, 2017 . Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities (Millions of dollars) Gross Amount Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amount At March 31, 2018 Derivative Assets $ 1,180 $ 1,173 $ 7 $ — $ 7 Derivative Liabilities $ 1,268 $ 1,173 $ 95 $ — $ 95 At December 31, 2017 Derivative Assets $ 1,169 $ 1,147 $ 22 $ — $ 22 Derivative Liabilities $ 1,271 $ 1,147 $ 124 $ — $ 124

Changes in Accumulated Other 36

Changes in Accumulated Other Comprehensive Losses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at January 1	$ 149,319	$ 146,722
Components of Other Comprehensive Income (Loss):
Other Comprehensive Gain, Net of Tax	130	117
Balance at March 31	151,566	147,790
Related income taxes	1,414	$ 430
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at January 1	(3,589)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	14
Reclassifications	116
Other Comprehensive Gain, Net of Tax	130
Balance at March 31	(3,459)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at January 1	(105)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	10
Reclassifications	0
Other Comprehensive Gain, Net of Tax	10
Balance at March 31	(95)
Unrealized Holding Gains (Losses) on Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at January 1	(5)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	(1)
Reclassifications	0
Other Comprehensive Gain, Net of Tax	(1)
Balance at March 31	(6)
Derivatives
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at January 1	(2)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	0
Reclassifications	0
Other Comprehensive Gain, Net of Tax	0
Balance at March 31	(2)
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at January 1	(3,477)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	5
Reclassifications	116
Other Comprehensive Gain, Net of Tax	121
Balance at March 31	(3,356)
Defined Benefit Plans | Reclassification out of Accumulated Other Comprehensive Income
Components of Other Comprehensive Income (Loss):
Employee Benefits for reclassified components	153
Related income taxes	$ 37

Noncontrolling Interests (Detai

Noncontrolling Interests (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Activity for equity attributable to noncontrolling interests
Balance at January 1	$ 149,319	$ 146,722
Net income	3,659	2,699
Dividends	(2,124)	(2,030)
Distributions to noncontrolling interests	(11)	0
Treasury shares, net	474	231
Other changes, net	249	168
Balance at March 31	151,566	147,790
Chevron Corporation Stockholders’ Equity
Activity for equity attributable to noncontrolling interests
Balance at January 1	148,124	145,556
Net income	3,638	2,682
Dividends	(2,124)	(2,030)
Distributions to noncontrolling interests	0	0
Treasury shares, net	474	231
Other changes, net	244	153
Balance at March 31	150,356	146,592
Non-controlling Interest
Activity for equity attributable to noncontrolling interests
Balance at January 1	1,195	1,166
Net income	21	17
Dividends	0	0
Distributions to noncontrolling interests	(11)	0
Treasury shares, net	0	0
Other changes, net	5	15
Balance at March 31	$ 1,210	$ 1,198

Information Relating to the C38

Information Relating to the Consolidated Statement of Cash Flows (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Net decrease (increase) in operating working capital
(Increase) decrease in accounts and notes receivable		$ (335)	$ 317
Increase in inventories		(543)	(550)
(Increase) decrease in prepaid expenses and other current assets		(608)	26
Decrease in accounts payable and accrued liabilities		(807)	(1,090)
Increase in income and other taxes payable		189	245
Net increase in operating working capital	[1]	(2,104)	(1,052)
Cash Payment for Interest on Debt and For Income Taxes
Interest on debt (net of capitalized interest)		105	0
Income taxes		843	494
Net sales of marketable securities
Marketable securities purchased		(29)	0
Marketable securities sold		0	2
Net (purchases) sales of marketable securities		(29)	2
Net borrowing of loans by equity affiliates
Borrowing of loans by equity affiliates		0	(70)
Repayment of loans by equity affiliates		26	64
Net repayment (borrowing) of loans by equity affiliates		26	(6)
Net (repayments) borrowings of short-term obligations
Repayments of short-term obligations		(1,377)	(2,952)
Proceeds from issuances of short-term obligations		658	3,415
Net borrowings of short-term obligations with three months or less maturity		3,933	(4,391)
Net borrowings (repayments) of short-term obligations		3,214	(3,928)
Capital expenditures
Additions to properties, plant and equipment		2,937	3,305
Additions to investments		15	3
Current year dry hole expenditures		45	7
Capital expenditures		2,997	3,315
Expensed exploration expenditures		113	137
Assets acquired through capital lease obligations		0	1
Capital and exploratory expenditures, excluding equity affiliates		3,110	3,453
Company’s share of expenditures by equity affiliates		1,295	939
Capital and exploratory expenditures, including equity affiliates		$ 4,405	$ 4,392
[1]	2017 adjusted to conform to Accounting Standards Update 2016-18. Refer to Note 4, "Information Relating to the Consolidated Statement of Cash Flows" beginning on page 8.

Information Relating to the C39

Information Relating to the Consolidated Statement of Cash Flows (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Net purchases of treasury shares	$ 1	$ 1
Stock repurchased during period (in shares)	0	0

Information Relating to the C40

Information Relating to the Consolidated Statement of Cash Flows (Details 1) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Item Effected [Line Items]
Distributions less than income from equity affiliates	[1]	$ (998)	$ (658)
Accounting Standards Update 2016-15
Item Effected [Line Items]
Distributions less than income from equity affiliates			$ (6)
[1]	2017 adjusted to conform to Accounting Standards Update 2016-15. Refer to Note 4, "Information Relating to the Consolidated Statement of Cash Flows" beginning on page 8.

Information Relating to the C41

Information Relating to the Consolidated Statement of Cash Flows (Details2) - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and Cash Equivalents		$ 6,466	$ 4,813	$ 6,983	$ 6,988
Total Cash, Cash Equivalents and Restricted Cash	[1]	7,517	5,943	8,073	8,414
Prepaid expenses and other current assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash		316	405	306	488
Deferred charges and other assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash		$ 735	$ 725	$ 784	$ 938
[1]	2017 adjusted to conform to Accounting Standards Update 2016-18. Refer to Note 4, "Information Relating to the Consolidated Statement of Cash Flows" beginning on page 8.

New Accounting Standards (Detai

New Accounting Standards (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating expenses	[1]	$ 4,701	$ 4,586
Selling, general and administrative expenses	[1]	723	$ 810
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating expenses		70
Selling, general and administrative expenses		$ 60
[1]	2017 adjusted to conform to ASU 2017-07. Refer to Note 5, "New Accounting Standards" on page 10.

Operating Segments and Geogra43

Operating Segments and Geographic Data (Details Textual)	3 Months Ended
	Mar. 31, 2018segment
Segment Reporting [Abstract]
Number of reportable segments	2
Number of operating segments	2

Operating Segments and Geogra44

Operating Segments and Geographic Data (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Segment Earnings	$ 3,638	$ 2,682
Operating Segments
Segment Reporting Information [Line Items]
Segment Earnings	4,080	2,443
Operating Segments | Upstream
Segment Reporting Information [Line Items]
Segment Earnings	3,352	1,517
Operating Segments | Upstream | United States
Segment Reporting Information [Line Items]
Segment Earnings	648	80
Operating Segments | Upstream | International
Segment Reporting Information [Line Items]
Segment Earnings	2,704	1,437
Operating Segments | Downstream
Segment Reporting Information [Line Items]
Segment Earnings	728	926
Operating Segments | Downstream | United States
Segment Reporting Information [Line Items]
Segment Earnings	442	469
Operating Segments | Downstream | International
Segment Reporting Information [Line Items]
Segment Earnings	286	457
All Other
Segment Reporting Information [Line Items]
Interest expense	(149)	(43)
Interest income	19	15
Other	$ (312)	$ 267

Operating Segments and Geogra45

Operating Segments and Geographic Data (Details 1) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Segment Assets
Segment Assets	$ 256,442	$ 253,806
Goodwill	4,531	4,531
United States
Segment Assets
Segment Assets	71,335	68,910
International
Segment Assets
Segment Assets	180,576	180,365
Operating Segments
Segment Assets
Segment Assets	246,455	245,549
Operating Segments | Upstream
Segment Assets
Segment Assets	205,393	204,913
Goodwill	4,531	4,531
Operating Segments | Upstream | United States
Segment Assets
Segment Assets	41,791	40,770
Operating Segments | Upstream | International
Segment Assets
Segment Assets	159,071	159,612
Operating Segments | Downstream
Segment Assets
Segment Assets	41,062	40,636
Operating Segments | Downstream | United States
Segment Assets
Segment Assets	23,862	23,202
Operating Segments | Downstream | International
Segment Assets
Segment Assets	17,200	17,434
All Other
Segment Assets
Segment Assets	9,987	8,257
All Other | United States
Segment Assets
Segment Assets	5,682	4,938
All Other | International
Segment Assets
Segment Assets	$ 4,305	$ 3,319

Operating Segments and Geogra46

Operating Segments and Geographic Data (Details 2) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Sales and Other Operating Revenues
Sales and Other Operating Revenues	[1]	$ 35,968	$ 31,524
Includes excise, value-added and similar taxes			1,677
Operating Segments
Sales and Other Operating Revenues
Sales and Other Operating Revenues		42,440	37,006
All Other
Sales and Other Operating Revenues
Sales and Other Operating Revenues		230	240
Total All Other
Sales and Other Operating Revenues
Sales and Other Operating Revenues		61	52
United States | Operating Segments
Sales and Other Operating Revenues
Sales and Other Operating Revenues		17,846	15,907
United States | Intersegment Eliminations
Sales and Other Operating Revenues
Sales and Other Operating Revenues		(166)	(183)
United States | All Other
Sales and Other Operating Revenues
Sales and Other Operating Revenues		227	235
United States | Intersegment Eliminations
Sales and Other Operating Revenues
Sales and Other Operating Revenues		(2,926)	(2,427)
International | Operating Segments
Sales and Other Operating Revenues
Sales and Other Operating Revenues		24,594	21,099
International | Intersegment Eliminations
Sales and Other Operating Revenues
Sales and Other Operating Revenues		(3)	(5)
International | All Other
Sales and Other Operating Revenues
Sales and Other Operating Revenues		3	5
International | Intersegment Eliminations
Sales and Other Operating Revenues
Sales and Other Operating Revenues		(3,546)	(3,055)
Upstream
Sales and Other Operating Revenues
Sales and Other Operating Revenues		7,261	4,860
Upstream | Operating Segments
Sales and Other Operating Revenues
Sales and Other Operating Revenues		13,233	9,821
Upstream | United States | Operating Segments
Sales and Other Operating Revenues
Sales and Other Operating Revenues		4,577	3,240
Upstream | United States | Intersegment Eliminations
Sales and Other Operating Revenues
Sales and Other Operating Revenues		(2,757)	(2,241)
Upstream | International | Operating Segments
Sales and Other Operating Revenues
Sales and Other Operating Revenues		8,656	6,581
Upstream | International | Intersegment Eliminations
Sales and Other Operating Revenues
Sales and Other Operating Revenues		(3,215)	(2,720)
Downstream
Sales and Other Operating Revenues
Sales and Other Operating Revenues		28,646	26,612
Downstream | Operating Segments
Sales and Other Operating Revenues
Sales and Other Operating Revenues		28,977	26,945
Downstream | United States | Operating Segments
Sales and Other Operating Revenues
Sales and Other Operating Revenues		13,042	12,432
Downstream | United States | Intersegment Eliminations
Sales and Other Operating Revenues
Sales and Other Operating Revenues		(3)	(3)
Downstream | International | Operating Segments
Sales and Other Operating Revenues
Sales and Other Operating Revenues		15,935	14,513
Downstream | International | Intersegment Eliminations
Sales and Other Operating Revenues
Sales and Other Operating Revenues		$ (328)	$ (330)
[1]	2017 includes excise, value-added and similar taxes of $1,677 million collected on behalf of third parties. Beginning in 2018, these taxes are netted in "Taxes other than on income" in accordance with ASU 2014-09. Refer to Note 17, "Revenue" beginning on page 24.

Summarized Financial Data - C47

Summarized Financial Data - Chevron U.S.A. Inc. (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Statement of Income - Chevron U.S.A. Inc.
Sales and other operating revenues	[1]	$ 35,968	$ 31,524
Costs and other deductions		32,691	30,292
Net income attributable to CUSA		3,638	2,682
Includes excise, value-added and similar taxes			1,677
Chevron U.S.A. Inc.
Statement of Income - Chevron U.S.A. Inc.
Sales and other operating revenues		28,058	24,408
Costs and other deductions		27,596	24,099
Net income attributable to CUSA		$ 697	421
Includes excise, value-added and similar taxes			$ 1,207
[1]	2017 includes excise, value-added and similar taxes of $1,677 million collected on behalf of third parties. Beginning in 2018, these taxes are netted in "Taxes other than on income" in accordance with ASU 2014-09. Refer to Note 17, "Revenue" beginning on page 24.

Summarized Financial Data - C48

Summarized Financial Data - Chevron U.S.A. Inc. (Details 1) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Balance Sheet - Chevron U.S.A. Inc.
Current assets	$ 31,726	$ 28,560
Current liabilities	30,630	27,737
Total CUSA net equity	151,566	149,319	$ 147,790	$ 146,722
Chevron U.S.A. Inc.
Balance Sheet - Chevron U.S.A. Inc.
Current assets	13,406	12,163
Other assets	55,482	54,994
Current liabilities	17,606	17,379
Other liabilities	12,623	12,541
Total CUSA net equity	38,659	37,237
Memo: Total debt	$ 3,050	$ 3,056

Summarized Financial Data - T49

Summarized Financial Data - Tengizchevroil LLP (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Tengizchevroil LLP
Affiliate Statements Captions [Line Items]
Percentage of affiliate by summarized financial information	100.00%
Sales and other operating revenues	$ 4,325	$ 3,395
Costs and other deductions	1,942	1,754
Net income attributable to TCO	$ 1,679	$ 1,158
Tengizchevroil LLP
Affiliate Statements Captions [Line Items]
Equity ownership, percentage	50.00%

Summarized Financial Data - C50

Summarized Financial Data - Chevron Phillips Chemical Company LLC (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Summarized Financial Data - Chevron Transport Corporation
Sales and other operating revenues	[1]	$ 35,968	$ 31,524
Costs and other deductions		32,691	30,292
Net income attributable to TCO		$ 3,638	2,682
Chevron Phillips Chemical Company LLC
Affiliate Statements Captions [Line Items]
Percentage of affiliate by summarized financial information		100.00%
Summarized Financial Data - Chevron Transport Corporation
Sales and other operating revenues		$ 2,577	2,445
Costs and other deductions		2,151	2,019
Net income attributable to TCO		$ 585	$ 503
Chevron Phillips Chemical Company LLC
Affiliate Statements Captions [Line Items]
Equity method investment, ownership percentage		50.00%
[1]	2017 includes excise, value-added and similar taxes of $1,677 million collected on behalf of third parties. Beginning in 2018, these taxes are netted in "Taxes other than on income" in accordance with ASU 2014-09. Refer to Note 17, "Revenue" beginning on page 24.

Employee Benefits (Details Text

Employee Benefits (Details Textual) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Defined Benefit Plan Disclosure [Line Items]
Pre-Medicare company contribution for retiree medical coverage, maximum percent	4.00%
Contribution to other post retirement plans	$ 45
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, contributions by employer to employee pension plan	149
Defined benefit plan, estimated future employer contributions in next fiscal year beginning after the date of the latest statement of financial position	950
Pension Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, contributions by employer to employee pension plan	91
Defined benefit plan, estimated future employer contributions in next fiscal year beginning after the date of the latest statement of financial position	700
Pension Benefits | International
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, estimated future employer contributions in next fiscal year beginning after the date of the latest statement of financial position	250
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, expected contributions during the remaining of fiscal year	$ 129

Employee Benefits (Details)

Employee Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pension Benefits
Net Periodic Benefit Cost
Net Periodic Other Benefit Costs	$ 229	$ 270
Pension Benefits | United States
Net Periodic Benefit Cost
Service cost	120	122
Interest cost	92	91
Expected return on plan assets	(159)	(149)
Amortization of prior service credits	1	(1)
Amortization of actuarial losses	76	85
Settlement losses	66	78
Net Periodic Other Benefit Costs	196	226
Pension Benefits | International
Net Periodic Benefit Cost
Service cost	40	37
Interest cost	46	53
Expected return on plan assets	(66)	(58)
Amortization of prior service credits	2	3
Amortization of actuarial losses	11	9
Settlement losses	0	0
Net Periodic Other Benefit Costs	33	44
Other Benefits
Net Periodic Benefit Cost
Service cost	13	8
Interest cost	21	23
Amortization of prior service credits	(7)	(7)
Amortization of actuarial losses	4	(1)
Net Periodic Other Benefit Costs	$ 31	$ 23

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Increase in income tax expense	$ 984
Income tax expense	$ 1,414	$ 430
Effective tax rates	28.00%	14.00%

Assets Held For Sale (Details)

Assets Held For Sale (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 1,200	$ 640
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 1,200

Litigation (Details)

Litigation (Details) $ in Millions	Mar. 27, 2017defendant	Nov. 13, 2013USD ($)	Aug. 03, 2012USD ($)	Feb. 14, 2011USD ($)	Sep. 30, 2010USD ($)	Aug. 31, 2010	Dec. 31, 1991USD ($)	Mar. 31, 2018LegalMatter	Nov. 06, 2012	Jan. 03, 2012	Dec. 31, 2008USD ($)
MTBE | Pending Litigation
Loss Contingencies [Line Items]
Pending lawsuits and claims (in number of claims) | LegalMatter								8
Ecuador | Pending Litigation
Loss Contingencies [Line Items]
Conducted remediation program							3 years
Remediation program							$ 40
Financial compensation for purported damages on mining engineer's report											$ 18,900
Assessment for purported unjust enrichment on mining engineer's report											$ 8,400
Court order requiring the parties to provide their positions on damages within (in days)						45 days
Amount assessed in damages		$ 9,500		$ 8,600
Amount assessed for plaintiffs representatives				900
Additional amount assessed in punitive damages				$ 8,600
Public apology date within judgment/clarification ruling (in days)				15 days
Proposed additional payment for plaintiff attorney fees as percentage of judgment										0.10%
Litigation settlement, amount awarded to			$ 19,100
Percentage of payments withheld by third parties due to freeze order									40.00%
Percentage of funds withheld by banks due to freeze order									40.00%
Ecuador | Pending Litigation | Minimum
Loss Contingencies [Line Items]
Approximate damages on plaintiffs' submission					$ 16,000
Approximate unjust enrichment on plaintiffs' submission					5,000
Ecuador | Pending Litigation | Maximum
Loss Contingencies [Line Items]
Approximate damages on plaintiffs' submission					76,000
Approximate unjust enrichment on plaintiffs' submission					$ 38,000
Ecuador | Declaratory Relief Claim
Loss Contingencies [Line Items]
Pending lawsuits and claims (in number of claims) | LegalMatter								1
Writ of Certiorari
Loss Contingencies [Line Items]
Number of defendants | defendant	2

Other Contingencies and Commi56

Other Contingencies and Commitments (Details)	Dec. 31, 2009USD ($)
Commitments and Contingencies Disclosure [Abstract]
Indemnifications acquirer environmental liabilities max obligation	$ 200,000,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivatives	$ 7	$ 22
Derivatives	95	$ 124
Recurring Basis
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable Securities	38		$ 9
Derivatives	7		22
Total Assets at Fair Value	45		31
Derivatives	95		124
Total Liabilities at Fair Value	95		124
Recurring Basis | Level 1
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable Securities	38		9
Derivatives	0		0
Total Assets at Fair Value	38		9
Derivatives	64		78
Total Liabilities at Fair Value	64		78
Recurring Basis | Level 2
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable Securities	0		0
Derivatives	7		22
Total Assets at Fair Value	7		22
Derivatives	31		46
Total Liabilities at Fair Value	31		46
Recurring Basis | Level 3
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable Securities	0		0
Derivatives	0		0
Total Assets at Fair Value	0		0
Derivatives	0		0
Total Liabilities at Fair Value	$ 0		$ 0

Fair Value Measurements (Deta58

Fair Value Measurements (Details Textual) - USD ($) $ in Billions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 6.5	$ 4.8
Restricted cash	1.1	1.1
Level 1 | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt	20.4
Level 2 | Other Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt	0.7
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net carrying value	21.1	23.5
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net carrying value	$ 21.1	$ 23.9
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 (Deta59

Fair Value Measurements (Details 1) - Nonrecurring Basis $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Properties, plant and equipment, net (held and used)	$ 0
Properties, plant and equipment, net (held for sale)	631
Investments and advances	1
Total Assets at Fair Value	632
Properties, plant and equipment, net (held and used), Before-Tax Loss	0
Properties, plant and equipment, net (held for sale), Before-Tax Loss	163
Investments and advances, Before Tax Loss	1
Total Assets at Fair Value, Before-Tax Loss	164
Level 1
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Properties, plant and equipment, net (held and used)	0
Properties, plant and equipment, net (held for sale)	0
Investments and advances	0
Total Assets at Fair Value	0
Level 2
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Properties, plant and equipment, net (held and used)	0
Properties, plant and equipment, net (held for sale)	631
Investments and advances	0
Total Assets at Fair Value	631
Level 3
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Properties, plant and equipment, net (held and used)	0
Properties, plant and equipment, net (held for sale)	0
Investments and advances	1
Total Assets at Fair Value	$ 1

Financial and Derivative Inst60

Financial and Derivative Instruments (Details) - Commodity - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Assets at Fair Value	$ 7	$ 22
Total Liabilities at Fair Value	95	124
Accounts and notes receivable, net
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Assets at Fair Value	7	22
Long-term receivables, net
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Assets at Fair Value	0	0
Accounts payable
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Liabilities at Fair Value	90	122
Deferred credits and other noncurrent obligations
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Liabilities at Fair Value	$ 5	$ 2

Financial and Derivative Inst61

Financial and Derivative Instruments (Details 1) - Commodity - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (21)	$ 164
Sales and other operating revenues
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(12)	162
Purchased crude oil and products
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	(9)	4
Other income
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 0	$ (2)

Financial and Derivative Inst62

Financial and Derivative Instruments (Details 2) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Offsetting Assets [Abstract]
Derivative Assets, Gross Amount Recognized	$ 1,180	$ 1,169
Derivative Assets, Gross Amounts Offset	1,173	1,147
Derivative Assets, Net Amounts Presented	7	22
Derivative Assets, Gross Amounts Not Offset	0	0
Derivative Assets, Net Amounts Presented	7	22
Offsetting Liabilities [Abstract]
Derivative Liabilities, Gross Amount Recognized	1,268	1,271
Derivative Liabilities, Gross Amounts Offset	1,173	1,147
Derivative Liabilities, Net Amounts Presented	95	124
Derivative Liabilities, Gross Amounts Not Offset	0	0
Derivative Liabilities, Net Amounts Presented	$ 95	$ 124

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018
Revenue from Contract with Customer [Abstract]
Receivables		$ 10,500		$ 9,800
Includes excise, value-added and similar taxes			$ 1,677
Performance obligation		30 days
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Taxes other than on income	[1]	$ 1,344	$ 2,871
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Taxes other than on income		$ 1,900
[1]	2017 includes excise, value-added and similar taxes of $1,677 million collected on behalf of third parties. Beginning in 2018, these taxes are netted in "Taxes other than on income" in accordance with ASU 2014-09. Refer to Note 17, "Revenue" beginning on page 24.