Chevron (CVX) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page	6 Months Ended
	Jun. 30, 2022 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-00368
Entity Registrant Name	Chevron Corp
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-0890210
Entity Address, Address Line One	6001 Bollinger Canyon Road
Entity Address, City or Town	San Ramon,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94583-2324
City Area Code	925
Local Phone Number	842-1000
Title of 12(b) Security	Common stock, par value $.75 per share
Trading Symbol	CVX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	1,957,434,814
Entity Central Index Key	0000093410
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues and Other Income
Sales and other operating revenues	$ 65,372	$ 36,117	$ 117,686	$ 67,193
Income (loss) from equity affiliates	2,467	1,442	4,552	2,353
Other income (loss)	923	38	897	80
Total Revenues and Other Income	68,762	37,597	123,135	69,626
Costs and Other Deductions
Purchased crude oil and products	40,003	20,629	72,652	38,197
Operating expenses	6,318	4,899	11,956	9,866
Selling, general and administrative expenses	863	1,096	1,830	2,086
Exploration expenses	196	113	405	199
Depreciation, depletion and amortization	3,700	4,522	7,354	8,808
Taxes other than on income	1,563	1,566	3,565	2,986
Interest and debt expense	129	185	265	383
Other components of net periodic benefit costs	(13)	165	51	502
Total Costs and Other Deductions	52,759	33,175	98,078	63,027
Income (Loss) Before Income Tax Expense	16,003	4,422	25,057	6,599
Income Tax Expense (Benefit)	4,288	1,328	7,065	2,107
Net Income (Loss)	11,715	3,094	17,992	4,492
Less: Net income (loss) attributable to noncontrolling interests	93	12	111	33
Net Income (Loss) Attributable to Chevron Corporation	$ 11,622	$ 3,082	$ 17,881	$ 4,459
Net Income (Loss) Attributable to Chevron Corporation
Basic (in dollars per share)	$ 5.98	$ 1.61	$ 9.21	$ 2.33
Diluted (in dollars per share)	$ 5.95	$ 1.60	$ 9.17	$ 2.32
Weighted Average Number of Shares Outstanding
Basic (in shares)	1,947,703	1,917,536	1,941,719	1,915,243
Diluted (in shares)	1,957,109	1,921,958	1,950,860	1,918,940

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 11,715	$ 3,094	$ 17,992	$ 4,492
Currency translation adjustment	(37)	3	(48)	(16)
Unrealized holding gain (loss) on securities
Net gain (loss) arising during period	0	5	0	2
Derivatives
Net derivatives gain (loss) on hedge transactions	29	(2)	31	(2)
Reclassification to net income	(2)	0	(2)	0
Income taxes on derivatives transactions	(7)	0	(7)	0
Total	20	(2)	22	(2)
Actuarial gain (loss)
Amortization to net income of net actuarial loss and settlements	79	242	237	677
Actuarial gain (loss) arising during period	144	110	283	1,017
Prior service credits (cost)
Amortization to net income of net prior service costs and curtailments	(5)	(4)	(9)	(8)
Prior service (costs) credits arising during period	0	3	0	3
Defined benefit plans sponsored by equity affiliates - benefit (cost)	12	29	18	40
Income (taxes) benefit on defined benefit plans	(52)	(95)	(105)	(396)
Total	178	285	424	1,333
Other Comprehensive Gain (Loss), Net of Tax	161	291	398	1,317
Comprehensive Income (Loss)	11,876	3,385	18,390	5,809
Comprehensive loss (income) attributable to noncontrolling interests	(93)	(12)	(111)	(33)
Comprehensive Income (Loss) Attributable to Chevron Corporation	$ 11,783	$ 3,373	$ 18,279	$ 5,776

CONSOLIDATED BALANCE SHEET (Una

CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Millions		Jun. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents		$ 12,029	$ 5,640
Marketable securities		341	35
Accounts and notes receivable (less allowance: 2022 - $307; 2021 - $303)		26,860	18,419
Inventories:
Crude oil and products		5,671	4,248
Chemicals		616	565
Materials, supplies and other		1,428	1,492
Total inventories		7,715	6,305
Prepaid expenses and other current assets		4,243	3,339
Total Current Assets		51,188	33,738
Long-term receivables (less allowance: 2022 - $473; 2021 - $442)		649	603
Investments and advances		43,557	40,696
Properties, plant and equipment, at cost		322,541	336,045
Less: Accumulated depreciation, depletion and amortization		178,131	189,084
Properties, plant and equipment, net		144,410	146,961
Deferred charges and other assets		12,647	12,384
Goodwill		4,663	4,385
Assets held for sale		822	768
Total Assets		257,936	239,535
Liabilities and Equity
Short-term debt		3,230	256
Accounts payable		24,906	16,454
Accrued liabilities		6,710	6,972
Federal and other taxes on income		2,922	1,700
Other taxes payable		1,353	1,409
Total Current Liabilities		39,121	26,791
Long-term debt		23,005	31,113
Deferred credits and other noncurrent obligations		19,722	20,778
Noncurrent deferred income taxes		15,942	14,665
Noncurrent employee benefit plans		5,584	6,248
Total Liabilities	[1]	103,374	99,595
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 June 30, 2022 and December 31, 2021)		1,832	1,832
Capital in excess of par value		18,559	17,282
Retained earnings		177,909	165,546
Accumulated other comprehensive losses		(3,491)	(3,889)
Deferred compensation and benefit plan trust		(240)	(240)
Treasury stock, at cost (485,241,766 and 512,870,523 shares at June 30, 2022 and December 31, 2021, respectively)		(41,015)	(41,464)
Total Chevron Corporation Stockholders’ Equity		153,554	139,067
Noncontrolling interests (includes redeemable noncontrolling interest of $139 and $135 at June 30, 2022 and December 31, 2021)		1,008	873
Total Equity		154,562	139,940
Total Liabilities and Equity		$ 257,936	$ 239,535
[1] * Refer to Note 12 Other Contingencies and Commitments .

CONSOLIDATED BALANCE SHEET (U_2

CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for accounts and notes receivable, current	$ 307	$ 303
Allowance for long-term receivables	$ 473	$ 442
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)	485,241,766	512,870,523
Redeemable equity	$ 139	$ 135

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating Activities
Net Income (Loss)	$ 17,992	$ 4,492
Adjustments
Depreciation, depletion and amortization	7,354	8,808
Dry hole expense	234	19
Distributions more (less) than income from equity affiliates	(3,166)	(1,417)
Net before-tax losses (gains) on asset retirements and sales	(466)	(87)
Net foreign currency effects	(225)	159
Deferred income tax provision	1,341	(186)
Net decrease (increase) in operating working capital	(405)	(1,032)
Decrease (increase) in long-term receivables	52	22
Net decrease (increase) in other deferred charges	(119)	(116)
Cash contributions to employee pension plans	(775)	(581)
Other	20	1,069
Net Cash Provided by Operating Activities	21,837	11,150
Investing Activities
Acquisition of businesses, net of cash received	(2,862)	0
Capital expenditures	(5,144)	(3,543)
Proceeds and deposits related to asset sales and returns of investment	2,349	369
Net sales (purchases) of marketable securities	(1)	0
Net repayment (borrowing) of loans by equity affiliates	29	39
Net Cash Used for Investing Activities	(5,629)	(3,135)
Financing Activities
Net borrowings (repayments) of short-term obligations	36	1,948
Repayments of long-term debt and other financing obligations	(5,689)	(3,252)
Cash dividends - common stock	(5,512)	(5,041)
Net contributions from (distributions to) noncontrolling interests	(36)	(26)
Net sales (purchases) of treasury shares	1,697	373
Net Cash Provided by (Used for) Financing Activities	(9,504)	(5,998)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	(143)	(66)
Net Change in Cash, Cash Equivalents and Restricted Cash	6,561	1,951
Cash, Cash Equivalents and Restricted Cash at January 1	6,795	6,737
Cash, Cash Equivalents and Restricted Cash at June 30	$ 13,356	$ 8,688

CONSOLIDATED STATEMENT OF EQUIT

CONSOLIDATED STATEMENT OF EQUITY (Unaudited) - USD ($) $ in Millions		Total	Chevron Corp. Stockholders’ Equity	Common Stock		Retained Earnings	Accumulated Other Comp. Income (Loss)	Treasury Stock (at cost)	Non-Controlling Interests
Beginning balance at Dec. 31, 2020		$ 132,726	$ 131,688	$ 18,421	[1]	$ 160,377	$ (5,612)	$ (41,498)	$ 1,038
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		77	77	77	[1]
NBLX acquisition		46	367	138	[1]	(148)		377	(321)
Net income (loss)		4,492	4,459			4,459			33
Cash dividends ($1.34 per share)		(5,067)	(5,041)			(5,041)			(26)
Stock dividends		(1)	(1)			(1)
Other comprehensive income		1,317	1,317				1,317
Purchases of treasury shares		(8)	(8)					(8)
Issuances of treasury shares		330	330					330
Other changes, net		(1)	(6)			(6)			5
Ending balance at Jun. 30, 2021		133,911	133,182	$ 18,636	[1]	159,640	(4,295)	$ (40,799)	729
Beginning balance, shares issued (in shares) at Dec. 31, 2020	[2]			2,442,676,580
Beginning balance, treasury shares (in shares) at Dec. 31, 2020								(517,490,263)
Beginning balance, shares outstanding (in shares) at Dec. 31, 2020				1,925,186,317
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)				(73,596)				(73,596)
Issuances (in shares)				8,799,223				8,799,223
Ending balance, shares issued (in shares) at Jun. 30, 2021	[2]			2,442,676,580
Ending balance, treasury shares (in shares) at Jun. 30, 2021								(508,764,636)
Ending balance, shares outstanding (in shares) at Jun. 30, 2021				1,933,911,944
Beginning balance at Mar. 31, 2021		132,933	131,888	$ 18,458	[1]	159,285	(4,586)	$ (41,269)	1,045
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		40	40	40	[1]
NBLX acquisition		46	367	138	[1]	(148)		377	(321)
Net income (loss)		3,094	3,082			3,082			12
Cash dividends ($1.34 per share)		(2,587)	(2,573)			(2,573)			(14)
Stock dividends		0	0			0
Other comprehensive income		291	291				291
Purchases of treasury shares		(2)	(2)					(2)
Issuances of treasury shares		95	95					95
Other changes, net		1	(6)			(6)			7
Ending balance at Jun. 30, 2021		133,911	133,182	$ 18,636	[1]	159,640	(4,295)	$ (40,799)	729
Beginning balance, shares issued (in shares) at Mar. 31, 2021	[2]			2,442,676,580
Beginning balance, treasury shares (in shares) at Mar. 31, 2021								(514,624,401)
Beginning balance, shares outstanding (in shares) at Mar. 31, 2021				1,928,052,179
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)				(6,593)				(6,593)
Issuances (in shares)				5,866,358				5,866,358
Ending balance, shares issued (in shares) at Jun. 30, 2021	[2]			2,442,676,580
Ending balance, treasury shares (in shares) at Jun. 30, 2021								(508,764,636)
Ending balance, shares outstanding (in shares) at Jun. 30, 2021				1,933,911,944
Beginning balance at Dec. 31, 2021		139,940	139,067	$ 18,874	[1]	165,546	(3,889)	$ (41,464)	873
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		29	29	29	[1]
Net income (loss)		17,992	17,881			17,881			111
Cash dividends ($1.34 per share)		(5,548)	(5,512)			(5,512)			(36)
Stock dividends		(1)	(1)			(1)
Other comprehensive income		398	398				398
Purchases of treasury shares		(3,755)	(3,755)					(3,755)
Issuances of treasury shares		5,452	5,452	1,248	[1]			4,204
Other changes, net		55	(5)			(5)			60
Ending balance at Jun. 30, 2022		$ 154,562	153,554	$ 20,151	[1]	177,909	(3,491)	$ (41,015)	1,008
Beginning balance, shares issued (in shares) at Dec. 31, 2021		2,442,676,580		2,442,676,580	[2]
Beginning balance, treasury shares (in shares) at Dec. 31, 2021								(512,870,523)
Beginning balance, shares outstanding (in shares) at Dec. 31, 2021				1,929,806,057
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)				(24,065,638)				(24,065,638)
Issuances (in shares)				51,694,395				51,694,395
Ending balance, shares issued (in shares) at Jun. 30, 2022		2,442,676,580		2,442,676,580	[2]
Ending balance, treasury shares (in shares) at Jun. 30, 2022								(485,241,766)
Ending balance, shares outstanding (in shares) at Jun. 30, 2022				1,957,434,814
Beginning balance at Mar. 31, 2022		$ 147,100	146,219	$ 19,970	[1]	169,059	(3,652)	$ (39,158)	881
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		13	13	13	[1]
Net income (loss)		11,715	11,622			11,622			93
Cash dividends ($1.34 per share)		(2,797)	(2,766)			(2,766)			(31)
Stock dividends		(1)	(1)			(1)
Other comprehensive income		161	161				161
Purchases of treasury shares		(2,500)	(2,500)					(2,500)
Issuances of treasury shares		811	811	168	[1]			643
Other changes, net		60	(5)			(5)			65
Ending balance at Jun. 30, 2022		$ 154,562	$ 153,554	$ 20,151	[1]	$ 177,909	$ (3,491)	$ (41,015)	$ 1,008
Beginning balance, shares issued (in shares) at Mar. 31, 2022	[2]			2,442,676,580
Beginning balance, treasury shares (in shares) at Mar. 31, 2022								(477,863,124)
Beginning balance, shares outstanding (in shares) at Mar. 31, 2022				1,964,813,456
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)				(15,168,627)				(15,168,627)
Issuances (in shares)				7,789,985				7,789,985
Ending balance, shares issued (in shares) at Jun. 30, 2022		2,442,676,580		2,442,676,580	[2]
Ending balance, treasury shares (in shares) at Jun. 30, 2022								(485,241,766)
Ending balance, shares outstanding (in shares) at Jun. 30, 2022				1,957,434,814
[1]Beginning and ending balances for all periods include capital in excess of par, common stock issued at par for $1,832, and $(240) associated with Chevron’s Benefit Plan Trust. Changes reflect capital in excess of par.[2]Beginning and ending total issued share balances include 14,168,000 shares associated with Chevron’s Benefit Plan Trust for all periods.

CONSOLIDATED STATEMENT OF EQU_2

CONSOLIDATED STATEMENT OF EQUITY (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends paid (in dollars per share)	$ 1.42	$ 1.34	$ 2.84	$ 2.63
Common stock	$ 1,832	$ 1,832	$ 1,832	$ 1,832	$ 1,832	$ 1,832	$ 1,832	$ 1,832
Benefit Plan Trust	$ (240)	$ (240)	$ (240)	$ (240)	$ (240)	$ (240)	$ (240)	$ (240)
Number of Chevron share issued held in benefit plan trust for funding obligations (in shares)	14,168,000	14,168,000	14,168,000	14,168,000	14,168,000	14,168,000	14,168,000	14,168,000

General

General	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Basis of Presentation The accompanying consolidated financial statements of Chevron Corporation and its subsidiaries (together, Chevron or 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- and six-month periods ended June 30, 2022, are not necessarily indicative of future financial results. The term “earnings” is defined as net income attributable to Chevron.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Losses	6 Months Ended
	Jun. 30, 2022
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 six months ended June 30, 2022 and 2021 are reflected in the table below. Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) (Millions of dollars) Currency Translation Adjustment Unrealized Holding Gains (Losses) on Securities Derivatives Defined Benefit Plans Total Balance at December 31, 2020 $ (107) $ (10) $ — $ (5,495) $ (5,612) Components of Other Comprehensive Income (Loss): Before Reclassifications (16) 2 (2) 820 804 Reclassifications (2) (3) — — — 513 513 Net Other Comprehensive Income (Loss) (16) 2 (2) 1,333 1,317 Balance at June 30, 2021 $ (123) $ (8) $ (2) $ (4,162) $ (4,295) Balance at December 31, 2021 $ (162) $ (11) $ — $ (3,716) $ (3,889) Components of Other Comprehensive Income (Loss): Before Reclassifications (48) — 24 231 207 Reclassifications (2) (3) — — (2) 193 191 Net Other Comprehensive Income (Loss) (48) — 22 424 398 Balance at June 30, 2022 $ (210) $ (11) $ 22 $ (3,292) $ (3,491) (1) All amounts are net of tax. (2) Refer to Note 14 Financial and Derivative Instruments for reclassified components of cash flow hedging. (3) Refer to Note 8 Employee Benefits for reclassified components, including amortization of actuarial gains or losses, amortization of prior service costs and settlement losses, totaling $227 million that are included in employee benefit costs for the six months ended June 30, 2022. Related income taxes for the same period, totaling $34 million, are reflected in “Income Tax Expense” on the Consolidated Statement of Income. All other reclassified amounts were insignificant.

Information Relating to the Con

Information Relating to the Consolidated Statement of Cash Flows	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Information Relating to the Consolidated Statement of Cash Flows	Information Relating to the Consolidated Statement of Cash Flows Six Months Ended 2022 2021 (Millions of dollars) Distributions more (less) than income from equity affiliates includes the following: Distributions from equity affiliates $ 1,386 $ 936 (Income) loss from equity affiliates (4,552) (2,353) Distributions more (less) than income from equity affiliates $ (3,166) $ (1,417) Net decrease (increase) in operating working capital was composed of the following: Decrease (increase) in accounts and notes receivable $ (8,625) $ (4,725) Decrease (increase) in inventories (789) (471) Decrease (increase) in prepaid expenses and other current assets (479) (1) Increase (decrease) in accounts payable and accrued liabilities 8,219 3,751 Increase (decrease) in income and other taxes payable 1,269 414 Net decrease (increase) in operating working capital $ (405) $ (1,032) Net cash provided by operating activities includes the following cash payments: Interest on debt (net of capitalized interest) $ 262 $ 355 Income taxes 4,414 1,939 Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts: Proceeds and deposits related to asset sales $ 1,263 $ 352 Returns of investment from equity affiliates 1,086 17 Proceeds and deposits related to asset sales and returns of investment $ 2,349 $ 369 Net sales (purchases) of marketable securities consisted of the following gross amounts: Marketable securities purchased $ (7) $ (3) Marketable securities sold 6 3 Net sales (purchases) of marketable securities $ (1) $ — Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts: Borrowing of loans by equity affiliates $ (20) $ — Repayment of loans by equity affiliates 49 39 Net repayment (borrowing) of loans by equity affiliates $ 29 $ 39 Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts: Proceeds from issuances of short-term obligations $ — $ 4,449 Repayments of short-term obligations — (3,910) Net borrowings (repayments) of short-term obligations with three months or less maturity 36 1,409 Net borrowings (repayments) of short-term obligations $ 36 $ 1,948 Net sales (purchases) of treasury shares consists of the following gross and net amounts: Shares issued for share-based compensation plans $ 5,452 $ 381 Shares purchased under share repurchase and deferred compensation plans (3,755) (8) Net sales (purchases) of treasury shares $ 1,697 $ 373 Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts: Distributions to noncontrolling interests $ (36) $ (26) Contributions from noncontrolling interests — — Net contributions from (distributions to) noncontrolling interests $ (36) $ (26) The Consolidated Statement of Cash Flows excludes changes to the Consolidated Balance Sheet that did not affect cash. The “Other” line in the Operating Activities section includes changes in postretirement benefits obligations and other long-term liabilities. The company paid dividends of $1.42 per share of common stock in second quarter 2022. This compares to dividends of $1.34 per share paid in the year-ago corresponding period. The components of “Capital expenditures” are presented in the following table: Six Months Ended 2022 2021 (Millions of dollars) Additions to properties, plant and equipment $ 4,028 $ 3,354 Additions to investments 831 168 Current-year dry hole expenditures 116 19 Payments for other assets and liabilities, net 169 2 Capital expenditures $ 5,144 $ 3,543 The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet: At June 30 At December 31 2022 2021 2021 2020 (Millions of dollars) Cash and cash equivalents $ 12,029 $ 7,527 $ 5,640 $ 5,596 Restricted cash included in “Prepaid expenses and other current assets” 524 378 333 365 Restricted cash included in “Deferred charges and other assets” 803 783 822 776 Total cash, cash equivalents and restricted cash $ 13,356 $ 8,688 $ 6,795 $ 6,737 Additional information related to restricted cash is included in Note 13 Fair Value Measurements

Summarized Financial Data - Ten

Summarized Financial Data - Tengizchevroil LLP	6 Months Ended
	Jun. 30, 2022
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: Six Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 12,649 $ 7,368 Costs and other deductions 6,046 3,935 Net income attributable to TCO $ 4,612 $ 2,403 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 following table: Six Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 7,818 $ 6,452 Costs and other deductions 6,746 5,178 Net income attributable to CPChem $ 1,308 $ 1,544

Summarized Financial Data - Che

Summarized Financial Data - Chevron Phillips Chemical Company LLC	6 Months Ended
	Jun. 30, 2022
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: Six Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 12,649 $ 7,368 Costs and other deductions 6,046 3,935 Net income attributable to TCO $ 4,612 $ 2,403 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 following table: Six Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 7,818 $ 6,452 Costs and other deductions 6,746 5,178 Net income attributable to CPChem $ 1,308 $ 1,544

Summarized Financial Data - C_2

Summarized Financial Data - Chevron U.S.A. Inc.	6 Months Ended
	Jun. 30, 2022
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 CPChem joint venture, which is accounted for using the equity method. The summarized financial information for CUSA and its consolidated subsidiaries is as follows: Six Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 93,356 $ 51,752 Costs and other deductions 85,678 50,962 Net income (loss) attributable to CUSA $ 6,660 $ 1,290 At June 30, At December 31, (Millions of dollars) Current assets $ 31,982 $ 20,216 Other assets 48,171 47,355 Current liabilities 23,101 17,824 Other liabilities 19,084 18,438 Total CUSA net equity $ 37,968 $ 31,309 Memo: Total debt $ 11,715 $ 11,693

Operating Segments and Geograph

Operating Segments and Geographic Data	6 Months Ended
	Jun. 30, 2022
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, producing and transporting 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, refined products, and lubricants; manufacturing and marketing of renewable fuels; transporting of crude oil and refined products by pipeline, marine vessel, motor equipment and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. “All Other” activities of the company include worldwide cash management and debt financing activities, corporate administrative functions, insurance operations, real estate activities, and technology companies. The company’s segments are managed by “segment managers” who report to the “chief operating decision maker” (CODM). The segments represent components of the company that engage in activities (a) from which revenues are earned and expenses are incurred; (b) whose operating results are regularly reviewed by the CODM, which makes decisions about resources to be allocated to the segments and assesses their performance; and (c) for which discrete financial information is available. The company’s primary country of operation is the United States of America, its country of domicile. Other components of the company’s operations are reported as “International” (outside the United States). Segment Earnings The company evaluates the performance of its operating segments on an after-tax basis, without considering the effects of debt financing interest expense or investment interest income, both of which are managed by the company on a worldwide basis. Corporate administrative costs and assets are not allocated to the operating segments. However, operating segments are billed for the direct use of corporate services. Nonbillable costs remain at the corporate level in “All Other.” Earnings by major operating area for the three- and six-month periods ended June 30, 2022 and 2021, are presented in the following table: Three Months Ended Six Months Ended 2022 2021 2022 2021 Segment Earnings (Millions of dollars) (Millions of dollars) Upstream United States $ 3,367 $ 1,446 $ 6,605 $ 2,387 International 5,191 1,732 8,887 3,141 Total Upstream 8,558 3,178 15,492 5,528 Downstream United States 2,440 776 2,926 646 International 1,083 63 928 198 Total Downstream 3,523 839 3,854 844 Total Segment Earnings 12,081 4,017 19,346 6,372 All Other Interest expense (120) (173) (246) (357) Interest income 29 12 39 20 Other (368) (774) (1,258) (1,576) Net Income Attributable to Chevron Corporation $ 11,622 $ 3,082 $ 17,881 $ 4,459 Segment Assets Segment assets do not include intercompany investments or intercompany receivables. Segment assets at June 30, 2022, and December 31, 2021, are as follows: At June 30, At December 31, Segment Assets (Millions of dollars) Upstream United States $ 42,954 $ 41,870 International 137,550 138,157 Goodwill 4,370 4,385 Total Upstream 184,874 184,412 Downstream United States 33,094 26,376 International 23,829 18,848 Goodwill 293 — Total Downstream 57,216 45,224 Total Segment Assets 242,090 229,636 All Other United States 11,615 5,746 International 4,231 4,153 Total All Other 15,846 9,899 Total Assets — United States 87,663 73,992 Total Assets — International 165,610 161,158 Goodwill 4,663 4,385 Total Assets $ 257,936 $ 239,535 Segment Sales and Other Operating Revenues Segment sales and other operating revenues, including internal transfers, for the three- and six-month periods ended June 30, 2022 and 2021, are presented in the following table. Products are transferred between operating segments at internal product values that approximate market prices. Revenues for the upstream segment are derived primarily from the production and sale of crude oil and natural gas, as well as the sale of third-party production of natural gas. Revenues for the downstream segment are derived primarily from the refining and marketing of petroleum products such as gasoline, jet fuel, gas oils, lubricants, residual fuel oils, other products derived from crude oil, and manufacturing and marketing of renewable fuels. This segment also generates revenues from the manufacture and sale of fuel and lubricant additives and the transportation and trading of refined products and crude oil. “All Other” activities include revenues from insurance operations, real estate activities and technology companies. Three Months Ended Six Months Ended 2022 2021 2022 2021 Sales and Other Operating Revenues (Millions of dollars) (Millions of dollars) Upstream United States $ 14,232 $ 6,034 $ 25,548 $ 11,825 International 14,230 9,516 27,732 18,306 Subtotal 28,462 15,550 53,280 30,131 Intersegment Elimination — United States (8,475) (3,256) (15,394) (6,111) Intersegment Elimination — International (4,138) (2,761) (7,787) (5,136) Total Upstream 15,849 9,533 30,099 18,884 Downstream United States 25,867 13,911 45,638 24,765 International 25,443 13,605 45,050 25,187 Subtotal 51,310 27,516 90,688 49,952 Intersegment Elimination — United States (1,343) (500) (2,342) (966) Intersegment Elimination — International (482) (457) (813) (726) Total Downstream 49,485 26,559 87,533 48,260 All Other United States 141 210 224 234 International 1 — 1 — Subtotal 142 210 225 234 Intersegment Elimination — United States (103) (185) (170) (185) Intersegment Elimination — International (1) — (1) — Total All Other 38 25 54 49 Sales and Other Operating Revenues United States 40,240 20,155 71,410 36,824 International 39,674 23,121 72,783 43,493 Subtotal 79,914 43,276 144,193 80,317 Intersegment Elimination — United States (9,921) (3,941) (17,906) (7,262) Intersegment Elimination — International (4,621) (3,218) (8,601) (5,862) Total Sales and Other Operating Revenues $ 65,372 $ 36,117 $ 117,686 $ 67,193

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Employee Benefits	Employee BenefitsChevron 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. For the company’s main U.S. medical plan, the increase to the pre-Medicare company contribution for retiree medical coverage is limited to no more than four percent each year. Certain life insurance benefits are paid by the company. The components of net periodic benefit costs for 2022 and 2021 are as follows: Three Months Ended Six Months Ended 2022 2021 2022 2021 (Millions of dollars) (Millions of dollars) Pension Benefits United States Service cost $ 117 $ 108 $ 235 $ 225 Interest cost 69 64 135 119 Expected return on plan assets (162) (145) (323) (294) Amortization of prior service costs (credits) 1 — 1 1 Amortization of actuarial losses (gains) 60 73 125 177 Settlement losses 21 151 107 468 Total United States 106 251 280 696 International Service cost 21 37 43 71 Interest cost 35 36 71 69 Expected return on plan assets (44) (43) (92) (89) Amortization of prior service costs (credits) 1 2 3 4 Amortization of actuarial losses (gains) 4 14 8 24 Settlement losses (9) — (9) — Total International 8 46 24 79 Net Periodic Pension Benefit Costs $ 114 $ 297 $ 304 $ 775 Other Benefits* Service cost $ 10 $ 10 $ 21 $ 21 Interest cost 16 13 31 26 Amortization of prior service costs (credits) (7) (6) (13) (13) Amortization of actuarial losses (gains) 3 4 6 8 Net Periodic Other Benefit Costs $ 22 $ 21 $ 45 $ 42 * 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 June 30, 2022, a total of $775 million was contributed to employee pension plans (including $673 million to the U.S. plans). 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 six months of 2022, the company contributed $86 million to its OPEB plans.

Assets Held For Sale

Assets Held For Sale	6 Months Ended
	Jun. 30, 2022
Assets Held For Sale [Abstract]
Assets Held For Sale	Assets Held For SaleAt June 30, 2022, the company classified $822 million of net properties, plant and equipment as “Assets held for sale” on the Consolidated Balance Sheet. These assets are associated with upstream and corporate operations that are anticipated to be sold in the next 12 months. The revenues and earnings contributions of these assets in 2021 and the first six months of 2022 were not material.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe income tax expense increased between quarterly periods from $1.3 billion in 2021 to $4.3 billion in 2022. The company's income before income tax expense increased $11.6 billion from $4.4 billion in 2021 to $16.0 billion in 2022, primarily due to higher realizations and downstream margins. The company’s effective tax rate changed between quarterly periods from 30 percent in 2021 to 27 percent in 2022. The change in the effective tax rate is mainly due to the consequence of mix effects, resulting from the absolute level of earnings or losses and whether they arose in higher or lower tax rate jurisdictions. The income tax expense increased between the six-month periods from $2.1 billion in 2021 to $7.1 billion in 2022. This increase is a direct result of the company’s income before income tax expense increasing $18.5 billion, from $6.6 billion in 2021 to $25.1 billion in 2022. The increase in income is primarily due to higher realizations and downstream margins. The company’s effective tax rate changed between the six-month periods from 32 percent in 2021 to 28 percent in 2022. The change in effective tax rate is primarily a consequence of the mix effects, resulting from the absolute level of earnings or losses and whether they arose in higher or lower tax rate jurisdictions and lower favorable international tax items. 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 June 30, 2022. For these jurisdictions, the latest years for which income tax examinations had been finalized were as follows: United States — 2013, Nigeria — 2007, Australia — 2009, Kazakhstan — 2012 and Saudi Arabia — 2016. 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.

Litigation

Litigation	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Litigation	Litigation Ecuador Texaco Petroleum Company (Texpet), a subsidiary of Texaco Inc., was a minority member of an oil production consortium with Ecuadorian state-owned Petroecuador from 1967 until 1992. After termination of the consortium and a third-party environmental audit, Ecuador and the consortium parties entered into a settlement agreement specifying Texpet’s remediation obligations. Following Texpet’s completion of a three-year remediation program, Ecuador certified the remediation as proper and released Texpet and its affiliates from environmental liability. In May 2003, plaintiffs alleging environmental harm from the consortium’s activities sued Chevron in the Superior Court in Lago Agrio, Ecuador. In February 2011, that court entered a judgment against Chevron for approximately $9.5 billion plus additional punitive damages. An appellate panel affirmed, and Ecuador’s National Court of Justice ratified the judgment but nullified the punitive damages, resulting in a judgment of approximately $9.5 billion. Ecuador’s highest Constitutional Court rejected Chevron’s final appeal in July 2018. In February 2011, Chevron sued the Lago Agrio plaintiffs and several of their lawyers and supporters in the U.S. District Court for the Southern District of New York (SDNY) for violations of the Racketeer Influenced and Corrupt Organizations (RICO) Act and state law. The SDNY court ruled that the Ecuadorian judgment had been procured through fraud, bribery, and corruption, and prohibited the RICO defendants from seeking to enforce the Ecuadorian judgment in the United States or profiting from their illegal acts. The Court of Appeals for the Second Circuit affirmed, and the U.S. Supreme Court denied certiorari in June 2017, rendering final the U.S. judgment in favor of Chevron. The Lago Agrio plaintiffs sought to have the Ecuadorian judgment recognized and enforced in Canada, Brazil, and Argentina. All of those recognition and enforcement actions were dismissed and resolved in Chevron’s favor. Chevron and Texpet filed an arbitration claim against Ecuador in September 2009 before an arbitral tribunal administered by the Permanent Court of Arbitration in The Hague, under the United States-Ecuador Bilateral Investment Treaty. In August 2018, the Tribunal issued an award holding that the Ecuadorian judgment was based on environmental claims that Ecuador had settled and released, and that it was procured through fraud, bribery, and corruption. According to the Tribunal, the Ecuadorian judgment “violates international public policy” and “should not be recognized or enforced by the courts of other States.” The Tribunal ordered Ecuador to remove the status of enforceability from the Ecuadorian judgment and to compensate Chevron for any injuries resulting from the judgment. The third and final phase of the arbitration, to determine the amount of compensation Ecuador owes to Chevron, is ongoing. In September 2020, the District Court of The Hague denied Ecuador’s request to set aside the Tribunal’s award, stating that it now is “common ground” between Ecuador and Chevron that the Ecuadorian judgment is fraudulent. In December 2020, Ecuador appealed the District Court’s decision to The Hague Court of Appeals. In June 2022, The Hague Court of Appeals dismissed Ecuador's appeal. In a separate proceeding, Ecuador admitted that the Ecuadorian judgment is fraudulent in a public filing with the Office of the United States Trade Representative in July 2020. Management continues to believe that the Ecuadorian judgment is illegitimate and unenforceable and will vigorously defend against any further attempts to have it recognized or enforced. Climate Change Governmental and other entities in various jurisdictions across the United States have filed legal proceedings against fossil fuel producing companies, including Chevron entities, purporting to seek legal and equitable relief to address alleged impacts of climate change. Chevron entities are or were among the codefendants in 21 separate lawsuits brought by 17 U.S. cities and counties, two U.S. states, the District of Columbia and a trade group. One of the city lawsuits was dismissed on the merits, and one of the county lawsuits was voluntarily dismissed by the plaintiff. The lawsuits assert various causes of action, including public nuisance, private nuisance, failure to warn, design defect, product defect, trespass, negligence, impairment of public trust, and violations of consumer protection statutes, based upon the company’s production of oil and gas products and alleged misrepresentations or omissions relating to climate change risks associated with those products. The unprecedented legal theories set forth in these proceedings entail the possibility of damages liability (both compensatory and punitive), injunctive and other forms of equitable relief, including without limitation abatement and disgorgement of profits, civil penalties and liability for fees and costs of suits, that, while we believe remote, could have a material adverse effect on the company’s results of operations and financial condition. Further such proceedings are likely to be filed by other parties. 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. Louisiana Seven coastal parishes and the State of Louisiana have filed lawsuits in Louisiana against numerous oil and gas companies seeking damages for coastal erosion in or near oil fields located within Louisiana’s coastal zone under Louisiana’s State and Local Coastal Resources Management Act (SLCRMA). Chevron entities are defendants in 39 of these cases. The lawsuits allege that the defendants’ historical operations were conducted without necessary permits or failed to comply with permits obtained and seek damages and other relief, including the costs of restoring coastal wetlands allegedly impacted by oil field operations. Plaintiffs’ SLCRMA theories are unprecedented; thus, there remains significant uncertainty about the scope of the claims and alleged damages and any potential effects on the company’s results of operations and financial condition. Management believes that the claims lack legal and factual merit and will continue to vigorously defend against such proceedings .

Other Contingencies and Commitm

Other Contingencies and Commitments	6 Months Ended
	Jun. 30, 2022
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 10 Income Taxes 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 was solely responsible until April 2022, when the indemnification expired. Long-Term Unconditional Purchase Obligations and Commitments, Including Throughput and Take-or-Pay Agreements 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 may relate to suppliers’ financing arrangements. The agreements typically provide goods and services, such as pipeline and storage capacity, 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 by the company or other parties. Such contingencies may exist for various operating, closed and divested sites, including, but not limited to, U.S. federal Superfund sites and analogous sites under state laws, refineries, chemical plants, marketing facilities, crude oil fields, and mining sites. Although the company has provided for known environmental obligations that are probable and reasonably estimable, it is likely that the company will continue to incur additional liabilities. The amount of additional 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. These future costs may be material to results of operations in the period in which they are recognized, but the company does not expect these costs will have a material effect on its consolidated financial position or liquidity. Other Contingencies 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, retire, 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	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022, and December 31, 2021, is as follows: Assets and Liabilities Measured at Fair Value on a Recurring Basis (Millions of dollars) At June 30, 2022 At December 31, 2021 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Marketable Securities $ 341 $ 341 $ — $ — $ 35 $ 35 $ — $ — Derivatives - not designated 111 68 43 — 313 285 28 — Derivatives - designated 29 29 — — — — — — Total Assets at Fair Value $ 481 $ 438 $ 43 $ — $ 348 $ 320 $ 28 $ — Derivatives - not designated 364 290 74 — 72 24 48 — Total Liabilities at Fair Value $ 364 $ 290 $ 74 $ — $ 72 $ 24 $ 48 $ — 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 June 30, 2022. Derivatives The company records most of its derivative instruments — other than any commodity derivative contracts that are accounted for as normal purchase and normal sale — on the Consolidated Balance Sheet at fair value, with the offsetting amount to the Consolidated Statement of Income. The company designates certain derivative instruments as cash flow hedges that, if applicable, are reflected in the table above. Derivatives classified as Level 1 include futures, swaps and options contracts valued using quoted prices from active markets such as the New York Mercantile Exchange. Derivatives classified as Level 2 include swaps, options and forward contracts, 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 and liabilities carried at fair value at June 30, 2022, and December 31, 2021, 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 $12.0 billion and $5.6 billion at June 30, 2022, and December 31, 2021, 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 June 30, 2022. Restricted Cash had a carrying/fair value of $1.3 billion and $1.2 billion at June 30, 2022 and December 31, 2021, respectively. At June 30, 2022, restricted cash is classified as Level 1 and includes restricted funds related to certain upstream decommissioning activities, tax payments and a financing program, 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 debt, purchase price fair value adjustments and finance lease obligations, of $17.4 billion and $22.2 billion at June 30, 2022, and December 31, 2021, respectively. The fair value of long-term debt for the company was $16.7 billion and $23.7 billion at June 30, 2022 and December 31, 2021, respectively. Long-term debt primarily includes corporate issued bonds, classified as Level 1 and are $16.2 billion for the period. The fair value of other long-term debt classified as Level 2 is $0.5 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 June 30, 2022, and December 31, 2021, were not material. Properties, plant and equipment The company did not have any impairments of long-lived assets measured at fair value on a nonrecurring basis to report.

Financial and Derivative Instru

Financial and Derivative Instruments	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial and Derivative Instruments	Financial and Derivative Instruments The company’s commodity derivative instruments principally include crude oil, natural gas, liquefied natural gas and refined product futures, swaps, options and forward contracts. The company applies cash flow hedge accounting to certain commodity transactions, where appropriate, to manage the market price risk associated with forecasted sales of crude oil. 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 commodity derivative 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 June 30, 2022, and December 31, 2021, and their classification on the Consolidated Balance Sheet and Consolidated Statement of Income are as follows: Consolidated Balance Sheet: Fair Value of Derivatives (Millions of dollars) Type of Balance Sheet Classification At June 30, At December 31, Commodity Accounts and notes receivable, net $ 114 $ 251 Commodity Long-term receivables, net 26 62 Total Assets at Fair Value $ 140 $ 313 Commodity Accounts payable $ 350 $ 71 Commodity Deferred credits and other noncurrent obligations 14 1 Total Liabilities at Fair Value $ 364 $ 72 Consolidated Statement of Income: The Effect of Derivatives (Millions of dollars) Type of Gain / (Loss) Gain / (Loss) Contract Statement of Income Classification 2022 2021 2022 2021 Commodity Sales and other operating revenues $ (74) $ (268) $ (947) $ (542) Commodity Purchased crude oil and products (129) (21) (234) (24) Commodity Other income (7) 4 (6) (35) $ (210) $ (285) $ (1,187) $ (601) In the six months ended June 30, 2022, cash flow hedging contracts increased Sales and other operating revenues by $2 million compared with no impact in the same period of the prior year. At June 30, 2022, before-tax deferred gains in Accumulated Other Comprehensive Losses related to outstanding crude oil price hedging contracts were $29 million, of which all is expected to be reclassified into earnings during the next 12 months as the hedged crude oil sales are recognized in earnings. The following table represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at June 30, 2022, and December 31, 2021. 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 June 30, 2022 Derivative Assets - not designated $ 3,946 $ 3,835 $ 111 $ — $ 111 Derivative Assets - designated $ 39 $ 10 $ 29 $ — $ 29 Derivative Liabilities - not designated $ 4,199 $ 3,835 $ 364 $ — $ 364 Derivative Liabilities - designated $ 10 $ 10 $ — $ — $ — At December 31, 2021 Derivative Assets - not designated $ 1,684 $ 1,371 $ 313 $ — $ 313 Derivative Liabilities - not designated $ 1,443 $ 1,371 $ 72 $ — $ 72 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	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue“Sales and other operating revenue” on the Consolidated Statement of Income primarily arise from contracts with customers. Related receivables are included in “Accounts and notes receivable, net” on the Consolidated Balance Sheet, net of the current expected credit losses. The net balance of these receivables was $18.7 billion and $12.9 billion at June 30, 2022, and December 31, 2021, 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.

Financial Instruments - Credit

Financial Instruments - Credit Losses	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Financial Instruments - Credit Losses	Financial Instruments - Credit Losses Chevron’s expected credit loss allowance balance was $780 million as of June 30, 2022 and $745 million as of December 31, 2021, with a majority of the allowance relating to non-trade receivable balances. The majority of the company’s receivable balance is concentrated in trade receivables, with a balance of $24.2 billion as of June 30, 2022, which reflects the company’s diversified sources of revenues and is dispersed across the company’s broad worldwide customer base. As a result, the company believes the concentration of credit risk is limited. The company routinely assesses the financial strength of its customers. When the financial strength of a customer is not considered sufficient, alternative risk mitigation measures may be deployed, including requiring prepayments, letters of credit or other acceptable forms of collateral. Once credit is extended and a receivable balance exists, the company applies a quantitative calculation to current trade receivable balances that reflects credit risk predictive analysis, including probability of default and loss given default, which takes into consideration current and forward-looking market data as well as the company’s historical loss data. This statistical approach becomes the basis of the company’s expected credit loss allowance for current trade receivables with payment terms that are typically short-term in nature, with most due in less than 90 days.

Acquisition of Renewable Energy

Acquisition of Renewable Energy Group, Inc.	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition of Renewable Energy Group, Inc.	Acquisition of Renewable Energy Group, Inc. On June 13, 2022, the company acquired Renewable Energy Group, Inc. (REG), an independent company focused on converting natural fats, oils and greases into advanced biofuels. REG utilizes a global integrated production, procurement, distribution and logistics network to operate 11 biorefineries in the U.S. and Europe. Ten biorefineries produce biodiesel and one produces renewable diesel. The acquisition combines REG’s growing renewable fuels production and leading feedstock capabilities with Chevron’s large manufacturing, distribution and commercial marketing position. Chevron acquired outstanding shares of REG in an all-cash transaction valued at $3.15 billion, or $61.50 per share. As part of the transaction, the company recognized long-term debt and finance leases with a fair value of $590 million. The acquisition was accounted for as a business combination under ASC 805, which requires assets acquired and liabilities assumed to be measured at their acquisition date fair values. Provisional fair value measurements were made for acquired assets and liabilities, and adjustments to those measurements may be made in subsequent periods, up to one year from the acquisition date, as information necessary to complete the analysis is obtained. Tangible and intangible assets were valued using a combination of replacement cost approach and discounted cash flows that incorporated internally generated price assumptions and production profiles together with appropriate operating and capital cost assumptions. Debt assumed in the acquisition was valued based on observable market prices for REG’s debt. As a result of measuring the assets acquired and the liabilities assumed at fair value, the company recognized $293 million of goodwill. The following table summarizes the values assigned to assets acquired and liabilities assumed: At June 13, 2022 (Millions of dollars) Current assets $ 1,584 Properties, plant and equipment 1,778 Deferred tax 92 Other assets 374 Total assets acquired 3,828 Current liabilities 301 Long-term debt and finance leases 590 Other liabilities 75 Total liabilities assumed 966 Net assets acquired $ 2,862 Goodwill 293 Purchase Price $ 3,155 Pro forma financial information is not disclosed as the acquisition was deemed not to have a material impact on the company's results of operations.

General (Policies)

General (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of Chevron Corporation and its subsidiaries (together, Chevron or 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- and six-month periods ended June 30, 2022, are not necessarily indicative of future financial results. The term “earnings” is defined as net income attributable to Chevron.
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, producing and transporting 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, refined products, and lubricants; manufacturing and marketing of renewable fuels; 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
Revenue	“Sales and other operating revenue” on the Consolidated Statement of Income primarily arise from contracts with customers. Related receivables are included in “Accounts and notes receivable, net” on the Consolidated Balance Sheet, net of the current expected credit losses. The net balance of these receivables was $18.7 billion and $12.9 billion at June 30, 2022, and December 31, 2021, 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.

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Losses (Tables)	6 Months Ended
	Jun. 30, 2022
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 six months ended June 30, 2022 and 2021 are reflected in the table below. Changes in Accumulated Other Comprehensive Income (Loss) by Component (1) (Millions of dollars) Currency Translation Adjustment Unrealized Holding Gains (Losses) on Securities Derivatives Defined Benefit Plans Total Balance at December 31, 2020 $ (107) $ (10) $ — $ (5,495) $ (5,612) Components of Other Comprehensive Income (Loss): Before Reclassifications (16) 2 (2) 820 804 Reclassifications (2) (3) — — — 513 513 Net Other Comprehensive Income (Loss) (16) 2 (2) 1,333 1,317 Balance at June 30, 2021 $ (123) $ (8) $ (2) $ (4,162) $ (4,295) Balance at December 31, 2021 $ (162) $ (11) $ — $ (3,716) $ (3,889) Components of Other Comprehensive Income (Loss): Before Reclassifications (48) — 24 231 207 Reclassifications (2) (3) — — (2) 193 191 Net Other Comprehensive Income (Loss) (48) — 22 424 398 Balance at June 30, 2022 $ (210) $ (11) $ 22 $ (3,292) $ (3,491) (1) All amounts are net of tax. (2) Refer to Note 14 Financial and Derivative Instruments for reclassified components of cash flow hedging. (3) Refer to Note 8 Employee Benefits for reclassified components, including amortization of actuarial gains or losses, amortization of prior service costs and settlement losses, totaling $227 million that are included in employee benefit costs for the six months ended June 30, 2022. Related income taxes for the same period, totaling $34 million, are reflected in “Income Tax Expense” on the Consolidated Statement of Income. All other reclassified amounts were insignificant.

Information Relating to the C_2

Information Relating to the Consolidated Statement of Cash Flows (Tables)	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Information Relating to Consolidated Statement of Cash Flows	Six Months Ended 2022 2021 (Millions of dollars) Distributions more (less) than income from equity affiliates includes the following: Distributions from equity affiliates $ 1,386 $ 936 (Income) loss from equity affiliates (4,552) (2,353) Distributions more (less) than income from equity affiliates $ (3,166) $ (1,417) Net decrease (increase) in operating working capital was composed of the following: Decrease (increase) in accounts and notes receivable $ (8,625) $ (4,725) Decrease (increase) in inventories (789) (471) Decrease (increase) in prepaid expenses and other current assets (479) (1) Increase (decrease) in accounts payable and accrued liabilities 8,219 3,751 Increase (decrease) in income and other taxes payable 1,269 414 Net decrease (increase) in operating working capital $ (405) $ (1,032) Net cash provided by operating activities includes the following cash payments: Interest on debt (net of capitalized interest) $ 262 $ 355 Income taxes 4,414 1,939 Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts: Proceeds and deposits related to asset sales $ 1,263 $ 352 Returns of investment from equity affiliates 1,086 17 Proceeds and deposits related to asset sales and returns of investment $ 2,349 $ 369 Net sales (purchases) of marketable securities consisted of the following gross amounts: Marketable securities purchased $ (7) $ (3) Marketable securities sold 6 3 Net sales (purchases) of marketable securities $ (1) $ — Net repayment (borrowing) of loans by equity affiliates consisted of the following gross amounts: Borrowing of loans by equity affiliates $ (20) $ — Repayment of loans by equity affiliates 49 39 Net repayment (borrowing) of loans by equity affiliates $ 29 $ 39 Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts: Proceeds from issuances of short-term obligations $ — $ 4,449 Repayments of short-term obligations — (3,910) Net borrowings (repayments) of short-term obligations with three months or less maturity 36 1,409 Net borrowings (repayments) of short-term obligations $ 36 $ 1,948 Net sales (purchases) of treasury shares consists of the following gross and net amounts: Shares issued for share-based compensation plans $ 5,452 $ 381 Shares purchased under share repurchase and deferred compensation plans (3,755) (8) Net sales (purchases) of treasury shares $ 1,697 $ 373 Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts: Distributions to noncontrolling interests $ (36) $ (26) Contributions from noncontrolling interests — — Net contributions from (distributions to) noncontrolling interests $ (36) $ (26)
Capital Expenditures	The components of “Capital expenditures” are presented in the following table: Six Months Ended 2022 2021 (Millions of dollars) Additions to properties, plant and equipment $ 4,028 $ 3,354 Additions to investments 831 168 Current-year dry hole expenditures 116 19 Payments for other assets and liabilities, net 169 2 Capital expenditures $ 5,144 $ 3,543
Schedule of Cash and Cash Equivalents	The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet: At June 30 At December 31 2022 2021 2021 2020 (Millions of dollars) Cash and cash equivalents $ 12,029 $ 7,527 $ 5,640 $ 5,596 Restricted cash included in “Prepaid expenses and other current assets” 524 378 333 365 Restricted cash included in “Deferred charges and other assets” 803 783 822 776 Total cash, cash equivalents and restricted cash $ 13,356 $ 8,688 $ 6,795 $ 6,737
Restrictions on Cash and Cash Equivalents	The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet: At June 30 At December 31 2022 2021 2021 2020 (Millions of dollars) Cash and cash equivalents $ 12,029 $ 7,527 $ 5,640 $ 5,596 Restricted cash included in “Prepaid expenses and other current assets” 524 378 333 365 Restricted cash included in “Deferred charges and other assets” 803 783 822 776 Total cash, cash equivalents and restricted cash $ 13,356 $ 8,688 $ 6,795 $ 6,737

Summarized Financial Data - T_2

Summarized Financial Data - Tengizchevroil LLP (Tables)	6 Months Ended
	Jun. 30, 2022
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: Six Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 12,649 $ 7,368 Costs and other deductions 6,046 3,935 Net income attributable to TCO $ 4,612 $ 2,403 Six Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 7,818 $ 6,452 Costs and other deductions 6,746 5,178 Net income attributable to CPChem $ 1,308 $ 1,544

Summarized Financial Data - C_3

Summarized Financial Data - Chevron Phillips Chemical Company LLC (Tables)	6 Months Ended
	Jun. 30, 2022
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: Six Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 12,649 $ 7,368 Costs and other deductions 6,046 3,935 Net income attributable to TCO $ 4,612 $ 2,403 Six Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 7,818 $ 6,452 Costs and other deductions 6,746 5,178 Net income attributable to CPChem $ 1,308 $ 1,544

Summarized Financial Data - C_4

Summarized Financial Data - Chevron U.S.A. Inc. (Tables)	6 Months Ended
	Jun. 30, 2022
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: Six Months Ended 2022 2021 (Millions of dollars) Sales and other operating revenues $ 93,356 $ 51,752 Costs and other deductions 85,678 50,962 Net income (loss) attributable to CUSA $ 6,660 $ 1,290
Summarized Financial Data and its Subsidiary	At June 30, At December 31, (Millions of dollars) Current assets $ 31,982 $ 20,216 Other assets 48,171 47,355 Current liabilities 23,101 17,824 Other liabilities 19,084 18,438 Total CUSA net equity $ 37,968 $ 31,309 Memo: Total debt $ 11,715 $ 11,693

Operating Segments and Geogra_2

Operating Segments and Geographic Data (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Earnings	Earnings by major operating area for the three- and six-month periods ended June 30, 2022 and 2021, are presented in the following table: Three Months Ended Six Months Ended 2022 2021 2022 2021 Segment Earnings (Millions of dollars) (Millions of dollars) Upstream United States $ 3,367 $ 1,446 $ 6,605 $ 2,387 International 5,191 1,732 8,887 3,141 Total Upstream 8,558 3,178 15,492 5,528 Downstream United States 2,440 776 2,926 646 International 1,083 63 928 198 Total Downstream 3,523 839 3,854 844 Total Segment Earnings 12,081 4,017 19,346 6,372 All Other Interest expense (120) (173) (246) (357) Interest income 29 12 39 20 Other (368) (774) (1,258) (1,576) Net Income Attributable to Chevron Corporation $ 11,622 $ 3,082 $ 17,881 $ 4,459
Segment Assets	Segment assets at June 30, 2022, and December 31, 2021, are as follows: At June 30, At December 31, Segment Assets (Millions of dollars) Upstream United States $ 42,954 $ 41,870 International 137,550 138,157 Goodwill 4,370 4,385 Total Upstream 184,874 184,412 Downstream United States 33,094 26,376 International 23,829 18,848 Goodwill 293 — Total Downstream 57,216 45,224 Total Segment Assets 242,090 229,636 All Other United States 11,615 5,746 International 4,231 4,153 Total All Other 15,846 9,899 Total Assets — United States 87,663 73,992 Total Assets — International 165,610 161,158 Goodwill 4,663 4,385 Total Assets $ 257,936 $ 239,535
Segment Sales and Other Operating Revenues	Segment Sales and Other Operating Revenues Segment sales and other operating revenues, including internal transfers, for the three- and six-month periods ended June 30, 2022 and 2021, are presented in the following table. Products are transferred between operating segments at internal product values that approximate market prices. Revenues for the upstream segment are derived primarily from the production and sale of crude oil and natural gas, as well as the sale of third-party production of natural gas. Revenues for the downstream segment are derived primarily from the refining and marketing of petroleum products such as gasoline, jet fuel, gas oils, lubricants, residual fuel oils, other products derived from crude oil, and manufacturing and marketing of renewable fuels. This segment also generates revenues from the manufacture and sale of fuel and lubricant additives and the transportation and trading of refined products and crude oil. “All Other” activities include revenues from insurance operations, real estate activities and technology companies. Three Months Ended Six Months Ended 2022 2021 2022 2021 Sales and Other Operating Revenues (Millions of dollars) (Millions of dollars) Upstream United States $ 14,232 $ 6,034 $ 25,548 $ 11,825 International 14,230 9,516 27,732 18,306 Subtotal 28,462 15,550 53,280 30,131 Intersegment Elimination — United States (8,475) (3,256) (15,394) (6,111) Intersegment Elimination — International (4,138) (2,761) (7,787) (5,136) Total Upstream 15,849 9,533 30,099 18,884 Downstream United States 25,867 13,911 45,638 24,765 International 25,443 13,605 45,050 25,187 Subtotal 51,310 27,516 90,688 49,952 Intersegment Elimination — United States (1,343) (500) (2,342) (966) Intersegment Elimination — International (482) (457) (813) (726) Total Downstream 49,485 26,559 87,533 48,260 All Other United States 141 210 224 234 International 1 — 1 — Subtotal 142 210 225 234 Intersegment Elimination — United States (103) (185) (170) (185) Intersegment Elimination — International (1) — (1) — Total All Other 38 25 54 49 Sales and Other Operating Revenues United States 40,240 20,155 71,410 36,824 International 39,674 23,121 72,783 43,493 Subtotal 79,914 43,276 144,193 80,317 Intersegment Elimination — United States (9,921) (3,941) (17,906) (7,262) Intersegment Elimination — International (4,621) (3,218) (8,601) (5,862) Total Sales and Other Operating Revenues $ 65,372 $ 36,117 $ 117,686 $ 67,193

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The components of net periodic benefit costs for 2022 and 2021 are as follows: Three Months Ended Six Months Ended 2022 2021 2022 2021 (Millions of dollars) (Millions of dollars) Pension Benefits United States Service cost $ 117 $ 108 $ 235 $ 225 Interest cost 69 64 135 119 Expected return on plan assets (162) (145) (323) (294) Amortization of prior service costs (credits) 1 — 1 1 Amortization of actuarial losses (gains) 60 73 125 177 Settlement losses 21 151 107 468 Total United States 106 251 280 696 International Service cost 21 37 43 71 Interest cost 35 36 71 69 Expected return on plan assets (44) (43) (92) (89) Amortization of prior service costs (credits) 1 2 3 4 Amortization of actuarial losses (gains) 4 14 8 24 Settlement losses (9) — (9) — Total International 8 46 24 79 Net Periodic Pension Benefit Costs $ 114 $ 297 $ 304 $ 775 Other Benefits* Service cost $ 10 $ 10 $ 21 $ 21 Interest cost 16 13 31 26 Amortization of prior service costs (credits) (7) (6) (13) (13) Amortization of actuarial losses (gains) 3 4 6 8 Net Periodic Other Benefit Costs $ 22 $ 21 $ 45 $ 42

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022, and December 31, 2021, is as follows: Assets and Liabilities Measured at Fair Value on a Recurring Basis (Millions of dollars) At June 30, 2022 At December 31, 2021 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Marketable Securities $ 341 $ 341 $ — $ — $ 35 $ 35 $ — $ — Derivatives - not designated 111 68 43 — 313 285 28 — Derivatives - designated 29 29 — — — — — — Total Assets at Fair Value $ 481 $ 438 $ 43 $ — $ 348 $ 320 $ 28 $ — Derivatives - not designated 364 290 74 — 72 24 48 — Total Liabilities at Fair Value $ 364 $ 290 $ 74 $ — $ 72 $ 24 $ 48 $ —

Financial and Derivative Inst_2

Financial and Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022, and December 31, 2021, and their classification on the Consolidated Balance Sheet and Consolidated Statement of Income are as follows: Consolidated Balance Sheet: Fair Value of Derivatives (Millions of dollars) Type of Balance Sheet Classification At June 30, At December 31, Commodity Accounts and notes receivable, net $ 114 $ 251 Commodity Long-term receivables, net 26 62 Total Assets at Fair Value $ 140 $ 313 Commodity Accounts payable $ 350 $ 71 Commodity Deferred credits and other noncurrent obligations 14 1 Total Liabilities at Fair Value $ 364 $ 72
Consolidated Statement of Income: The Effect of Derivatives Not Designated as Hedging Instruments	Consolidated Statement of Income: The Effect of Derivatives (Millions of dollars) Type of Gain / (Loss) Gain / (Loss) Contract Statement of Income Classification 2022 2021 2022 2021 Commodity Sales and other operating revenues $ (74) $ (268) $ (947) $ (542) Commodity Purchased crude oil and products (129) (21) (234) (24) Commodity Other income (7) 4 (6) (35) $ (210) $ (285) $ (1,187) $ (601)
Schedule of Offsetting Assets	The following table represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at June 30, 2022, and December 31, 2021. 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 June 30, 2022 Derivative Assets - not designated $ 3,946 $ 3,835 $ 111 $ — $ 111 Derivative Assets - designated $ 39 $ 10 $ 29 $ — $ 29 Derivative Liabilities - not designated $ 4,199 $ 3,835 $ 364 $ — $ 364 Derivative Liabilities - designated $ 10 $ 10 $ — $ — $ — At December 31, 2021 Derivative Assets - not designated $ 1,684 $ 1,371 $ 313 $ — $ 313 Derivative Liabilities - not designated $ 1,443 $ 1,371 $ 72 $ — $ 72
Schedule of Offsetting Liabilities	The following table represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at June 30, 2022, and December 31, 2021. 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 June 30, 2022 Derivative Assets - not designated $ 3,946 $ 3,835 $ 111 $ — $ 111 Derivative Assets - designated $ 39 $ 10 $ 29 $ — $ 29 Derivative Liabilities - not designated $ 4,199 $ 3,835 $ 364 $ — $ 364 Derivative Liabilities - designated $ 10 $ 10 $ — $ — $ — At December 31, 2021 Derivative Assets - not designated $ 1,684 $ 1,371 $ 313 $ — $ 313 Derivative Liabilities - not designated $ 1,443 $ 1,371 $ 72 $ — $ 72

Acquisition of Renewable Ener_2

Acquisition of Renewable Energy Group, Inc. (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the values assigned to assets acquired and liabilities assumed: At June 13, 2022 (Millions of dollars) Current assets $ 1,584 Properties, plant and equipment 1,778 Deferred tax 92 Other assets 374 Total assets acquired 3,828 Current liabilities 301 Long-term debt and finance leases 590 Other liabilities 75 Total liabilities assumed 966 Net assets acquired $ 2,862 Goodwill 293 Purchase Price $ 3,155

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 147,100	$ 132,933	$ 139,940	$ 132,726
Components of Other Comprehensive Income (Loss):
Other Comprehensive Gain (Loss), Net of Tax	161	291	398	1,317
Ending balance	154,562	133,911	154,562	133,911
Related income taxes	4,288	1,328	7,065	2,107
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(3,652)	(4,586)	(3,889)	(5,612)
Components of Other Comprehensive Income (Loss):
Before Reclassifications			207	804
Reclassifications			191	513
Other Comprehensive Gain (Loss), Net of Tax	161	291	398	1,317
Ending balance	(3,491)	(4,295)	(3,491)	(4,295)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(162)	(107)
Components of Other Comprehensive Income (Loss):
Before Reclassifications			(48)	(16)
Reclassifications			0	0
Other Comprehensive Gain (Loss), Net of Tax			(48)	(16)
Ending balance	(210)	(123)	(210)	(123)
Unrealized Holding Gains (Losses) on Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(11)	(10)
Components of Other Comprehensive Income (Loss):
Before Reclassifications			0	2
Reclassifications			0	0
Other Comprehensive Gain (Loss), Net of Tax			0	2
Ending balance	(11)	(8)	(11)	(8)
Derivatives
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			0	0
Components of Other Comprehensive Income (Loss):
Before Reclassifications			24	(2)
Reclassifications			(2)	0
Other Comprehensive Gain (Loss), Net of Tax			22	(2)
Ending balance	22	(2)	22	(2)
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(3,716)	(5,495)
Components of Other Comprehensive Income (Loss):
Before Reclassifications			231	820
Reclassifications			193	513
Other Comprehensive Gain (Loss), Net of Tax			424	1,333
Ending balance	$ (3,292)	$ (4,162)	(3,292)	$ (4,162)
Defined Benefit Plans | Reclassification out of Accumulated Other Comprehensive Income
Components of Other Comprehensive Income (Loss):
Employee Benefits for reclassified components			227
Related income taxes			$ 34

Information Relating to the C_3

Information Relating to the Consolidated Statement of Cash Flows - Summary of Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Distributions more (less) than income from equity affiliates includes the following:
Distributions from equity affiliates	$ 1,386	$ 936
(Income) loss from equity affiliates	(4,552)	(2,353)
Distributions more (less) than income from equity affiliates	(3,166)	(1,417)
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable	(8,625)	(4,725)
Decrease (increase) in inventories	(789)	(471)
Decrease (increase) in prepaid expenses and other current assets	(479)	(1)
Increase (decrease) in accounts payable and accrued liabilities	8,219	3,751
Increase (decrease) in income and other taxes payable	1,269	414
Net decrease (increase) in operating working capital	(405)	(1,032)
Net cash provided by operating activities includes the following cash payments:
Interest on debt (net of capitalized interest)	262	355
Income taxes	4,414	1,939
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales	1,263	352
Returns of investment from equity affiliates	1,086	17
Proceeds and deposits related to asset sales and returns of investment	2,349	369
Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased	(7)	(3)
Marketable securities sold	6	3
Net sales (purchases) of marketable securities	(1)	0
Net repayment (borrowing) of loans by equity affiliates:
Borrowing of loans by equity affiliates	(20)	0
Repayment of loans by equity affiliates	49	39
Net repayment (borrowing) of loans by equity affiliates	29	39
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Proceeds from issuances of short-term obligations	0	4,449
Repayments of short-term obligations	0	(3,910)
Net borrowings (repayments) of short-term obligations with three months or less maturity	36	1,409
Net borrowings (repayments) of short-term obligations	36	1,948
Net sales (purchases) of treasury shares consists of the following gross and net amounts:
Shares issued for share-based compensation plans	5,452	381
Shares purchased under share repurchase and deferred compensation plans	(3,755)	(8)
Net sales (purchases) of treasury shares	1,697	373
Net contributions from (distributions to) noncontrolling interests consisted of the following gross amounts:
Distributions to noncontrolling interests	(36)	(26)
Contributions from noncontrolling interests	0	0
Net contributions from (distributions to) noncontrolling interests	(36)	(26)
Capital expenditures
Additions to properties, plant and equipment	4,028	3,354
Additions to investments	831	168
Current-year dry hole expenditures	116	19
Payments for other assets and liabilities, net	169	2
Capital expenditures	$ 5,144	$ 3,543

Information Relating to the C_4

Information Relating to the Consolidated Statement of Cash Flows - Additional Information (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Dividends paid (in dollars per share)	$ 1.42	$ 1.34	$ 2.84	$ 2.63

Information Relating to the C_5

Information Relating to the Consolidated Statement of Cash Flows - Cash Balances (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 12,029	$ 5,640	$ 7,527	$ 5,596
Restricted cash included in “Prepaid expenses and other current assets”	524	333	378	365
Restricted cash included in “Deferred charges and other assets”	803	822	783	776
Total cash, cash equivalents and restricted cash	$ 13,356	$ 6,795	$ 8,688	$ 6,737

Summarized Financial Data - T_3

Summarized Financial Data - Tengizchevroil LLP (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Affiliate Statements Captions [Line Items]
Sales and other operating revenues	$ 65,372	$ 36,117	$ 117,686	$ 67,193
Net Income (Loss)	$ 11,715	$ 3,094	$ 17,992	4,492
Tengizchevroil LLP
Affiliate Statements Captions [Line Items]
Percentage of affiliate by summarized financial information	100%		100%
Sales and other operating revenues			$ 12,649	7,368
Costs and other deductions			6,046	3,935
Net Income (Loss)			$ 4,612	$ 2,403
Tengizchevroil LLP
Affiliate Statements Captions [Line Items]
Equity ownership, percentage	50%		50%

Summarized Financial Data - C_5

Summarized Financial Data - Chevron Phillips Chemical Company LLC (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Summarized Financial Data - Chevron Transport Corporation
Sales and other operating revenues	$ 65,372	$ 36,117	$ 117,686	$ 67,193
Costs and other deductions	52,759	33,175	98,078	63,027
Net income attributable to equity method investee	11,622	3,082	17,881	4,459
Oil and Gas
Summarized Financial Data - Chevron Transport Corporation
Sales and other operating revenues	$ 65,372	$ 36,117	$ 117,686	67,193
Chevron Phillips Chemical Company LLC
Affiliate Statements Captions [Line Items]
Percentage of affiliate by summarized financial information	100%		100%
Summarized Financial Data - Chevron Transport Corporation
Costs and other deductions			$ 6,746	5,178
Net income attributable to equity method investee			1,308	1,544
Chevron Phillips Chemical Company LLC | Oil and Gas
Summarized Financial Data - Chevron Transport Corporation
Sales and other operating revenues			$ 7,818	$ 6,452
Chevron Phillips Chemical Company LLC
Affiliate Statements Captions [Line Items]
Equity method investment, ownership percentage	50%		50%

Summarized Financial Data - C_6

Summarized Financial Data - Chevron U.S.A. Inc. - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Subsidiary Statements Captions [Line Items]
Sales and other operating revenues	$ 65,372	$ 36,117	$ 117,686	$ 67,193
Costs and other deductions	52,759	33,175	98,078	63,027
Net income attributable to equity method investee	$ 11,622	$ 3,082	17,881	4,459
Chevron U.S.A. Inc.
Subsidiary Statements Captions [Line Items]
Sales and other operating revenues			93,356	51,752
Costs and other deductions			85,678	50,962
Net income attributable to equity method investee			$ 6,660	$ 1,290

Summarized Financial Data - C_7

Summarized Financial Data - Chevron U.S.A. Inc. - Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Subsidiary Statements Captions [Line Items]
Current assets	$ 51,188		$ 33,738
Current liabilities	39,121		26,791
Total CUSA net equity	154,562	$ 147,100	139,940	$ 133,911	$ 132,933	$ 132,726
Chevron U.S.A. Inc.
Subsidiary Statements Captions [Line Items]
Current assets	31,982		20,216
Other assets	48,171		47,355
Current liabilities	23,101		17,824
Other liabilities	19,084		18,438
Total CUSA net equity	37,968		31,309
Memo: Total debt	$ 11,715		$ 11,693

Operating Segments and Geogra_3

Operating Segments and Geographic Data - Additional Information (Details)	6 Months Ended
	Jun. 30, 2022 segment
Segment Reporting [Abstract]
Number of reportable segments	2
Number of operating segments	2

Operating Segments and Geogra_4

Operating Segments and Geographic Data - Earnings by Major Operating Area (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	$ 11,622	$ 3,082	$ 17,881	$ 4,459
Operating Segments
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	12,081	4,017	19,346	6,372
Operating Segments | Upstream
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	8,558	3,178	15,492	5,528
Operating Segments | Upstream | United States
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	3,367	1,446	6,605	2,387
Operating Segments | Upstream | International
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	5,191	1,732	8,887	3,141
Operating Segments | Downstream
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	3,523	839	3,854	844
Operating Segments | Downstream | United States
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	2,440	776	2,926	646
Operating Segments | Downstream | International
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to Chevron Corporation	1,083	63	928	198
All Other
Segment Reporting Information [Line Items]
Interest expense	(120)	(173)	(246)	(357)
Interest income	29	12	39	20
Other	$ (368)	$ (774)	$ (1,258)	$ (1,576)

Operating Segments and Geogra_5

Operating Segments and Geographic Data - Segment Assets (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Segment Assets
Assets	$ 257,936	$ 239,535
Goodwill	4,663	4,385
United States
Segment Assets
Assets	87,663	73,992
International
Segment Assets
Assets	165,610	161,158
Operating Segments
Segment Assets
Assets	242,090	229,636
Operating Segments | Upstream
Segment Assets
Assets	184,874	184,412
Goodwill	4,370	4,385
Operating Segments | Upstream | United States
Segment Assets
Assets	42,954	41,870
Operating Segments | Upstream | International
Segment Assets
Assets	137,550	138,157
Operating Segments | Downstream
Segment Assets
Assets	57,216	45,224
Goodwill	293	0
Operating Segments | Downstream | United States
Segment Assets
Assets	33,094	26,376
Operating Segments | Downstream | International
Segment Assets
Assets	23,829	18,848
All Other
Segment Assets
Assets	15,846	9,899
All Other | United States
Segment Assets
Assets	11,615	5,746
All Other | International
Segment Assets
Assets	$ 4,231	$ 4,153

Operating Segments and Geogra_6

Operating Segments and Geographic Data - Segment Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ 65,372	$ 36,117	$ 117,686	$ 67,193
Oil and Gas
Segment Reporting Information [Line Items]
Sales and other operating revenues	65,372	36,117	117,686	67,193
Oil and Gas | Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	79,914	43,276	144,193	80,317
Oil and Gas | All Other
Segment Reporting Information [Line Items]
Sales and other operating revenues	142	210	225	234
Oil and Gas | Total All Other
Segment Reporting Information [Line Items]
Sales and other operating revenues	38	25	54	49
Oil and Gas | United States | Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	40,240	20,155	71,410	36,824
Oil and Gas | United States | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(103)	(185)	(170)	(185)
Oil and Gas | United States | All Other
Segment Reporting Information [Line Items]
Sales and other operating revenues	141	210	224	234
Oil and Gas | United States | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(9,921)	(3,941)	(17,906)	(7,262)
Oil and Gas | International | Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	39,674	23,121	72,783	43,493
Oil and Gas | International | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(1)	0	(1)	0
Oil and Gas | International | All Other
Segment Reporting Information [Line Items]
Sales and other operating revenues	1	0	1	0
Oil and Gas | International | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(4,621)	(3,218)	(8,601)	(5,862)
Oil and Gas | Upstream
Segment Reporting Information [Line Items]
Sales and other operating revenues	15,849	9,533	30,099	18,884
Oil and Gas | Upstream | Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	28,462	15,550	53,280	30,131
Oil and Gas | Upstream | United States | Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	14,232	6,034	25,548	11,825
Oil and Gas | Upstream | United States | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(8,475)	(3,256)	(15,394)	(6,111)
Oil and Gas | Upstream | International | Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	14,230	9,516	27,732	18,306
Oil and Gas | Upstream | International | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(4,138)	(2,761)	(7,787)	(5,136)
Oil and Gas | Downstream
Segment Reporting Information [Line Items]
Sales and other operating revenues	49,485	26,559	87,533	48,260
Oil and Gas | Downstream | Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	51,310	27,516	90,688	49,952
Oil and Gas | Downstream | United States | Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	25,867	13,911	45,638	24,765
Oil and Gas | Downstream | United States | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	(1,343)	(500)	(2,342)	(966)
Oil and Gas | Downstream | International | Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues	25,443	13,605	45,050	25,187
Oil and Gas | Downstream | International | Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues	$ (482)	$ (457)	$ (813)	$ (726)

Employee Benefits - Additional

Employee Benefits - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Pre-Medicare company contribution for retiree medical coverage, maximum percent	4%
Contribution to other post retirement plans	$ 86
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, contributions by employer to employee pension plan	775
Pension Benefits | United States
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, contributions by employer to employee pension plan	$ 673

Employee Benefits - Costs (Deta

Employee Benefits - Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Pension Benefits
Net Periodic Benefit Cost
Net Periodic Other Benefit Costs	$ 114	$ 297	$ 304	$ 775
Pension Benefits | United States
Net Periodic Benefit Cost
Service cost	117	108	235	225
Interest cost	69	64	135	119
Expected return on plan assets	(162)	(145)	(323)	(294)
Amortization of prior service costs (credits)	1	0	1	1
Amortization of actuarial losses (gains)	60	73	125	177
Settlement losses	21	151	107	468
Net Periodic Other Benefit Costs	106	251	280	696
Pension Benefits | International
Net Periodic Benefit Cost
Service cost	21	37	43	71
Interest cost	35	36	71	69
Expected return on plan assets	(44)	(43)	(92)	(89)
Amortization of prior service costs (credits)	1	2	3	4
Amortization of actuarial losses (gains)	4	14	8	24
Settlement losses	(9)	0	(9)	0
Net Periodic Other Benefit Costs	8	46	24	79
Other Benefits
Net Periodic Benefit Cost
Service cost	10	10	21	21
Interest cost	16	13	31	26
Amortization of prior service costs (credits)	(7)	(6)	(13)	(13)
Amortization of actuarial losses (gains)	3	4	6	8
Net Periodic Other Benefit Costs	$ 22	$ 21	$ 45	$ 42

Assets Held For Sale (Details)

Assets Held For Sale (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 822	$ 768
Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale	$ 822

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 4,288	$ 1,328	$ 7,065	$ 2,107
Increase (decrease) in income before income tax expense	11,600		18,500
Income (loss) before income tax expense	$ 16,003	$ 4,422	$ 25,057	$ 6,599
Effective tax rates	27%	30%	28%	32%

Litigation (Details)

Litigation (Details) $ in Millions	1 Months Ended	6 Months Ended
	Feb. 28, 2011 USD ($)	Jun. 30, 2022 lawsuit
Louisiana
Loss Contingencies [Line Items]
Pending lawsuits and claims (in number of claims)		39
Ecuador | Pending Litigation
Loss Contingencies [Line Items]
Amount assessed in damages | $	$ 9,500
Climate Change
Loss Contingencies [Line Items]
New claims (in number of claims)		21
Claims dismissed (in number of claims)		1

Other Contingencies and Commi_2

Other Contingencies and Commitments (Details)	Jun. 30, 2022 lawsuit	Dec. 31, 2009 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Indemnifications acquirer environmental liabilities max obligation | $		$ 200,000,000
Louisiana
Reserve Quantities [Line Items]
Pending lawsuits and claims (in number of claims) | lawsuit	39

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities at Fair Value, Recurring (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Marketable securities	$ 341	$ 35
Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives - not designated	111	313
Derivatives - not designated	364	72
Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives - not designated	29
Derivatives - not designated	0
Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Marketable securities	341	35
Total Assets at Fair Value	481	348
Total Liabilities at Fair Value	364	72
Recurring Basis | Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives - not designated	111	313
Derivatives - not designated	364	72
Recurring Basis | Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives - not designated	29	0
Recurring Basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Marketable securities	341	35
Total Assets at Fair Value	438	320
Total Liabilities at Fair Value	290	24
Recurring Basis | Level 1 | Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives - not designated	68	285
Derivatives - not designated	290	24
Recurring Basis | Level 1 | Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives - not designated	29	0
Recurring Basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Marketable securities	0	0
Total Assets at Fair Value	43	28
Total Liabilities at Fair Value	74	48
Recurring Basis | Level 2 | Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives - not designated	43	28
Derivatives - not designated	74	48
Recurring Basis | Level 2 | Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives - not designated	0	0
Recurring Basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Marketable securities	0	0
Total Assets at Fair Value	0	0
Total Liabilities at Fair Value	0	0
Recurring Basis | Level 3 | Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives - not designated	0	0
Derivatives - not designated	0	0
Recurring Basis | Level 3 | Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Derivatives - not designated	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 12,000	$ 5,600
Restricted cash	1,300	1,200
Level 1 | Corporate Bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt	16,200
Level 2 | Other Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt	500
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net carrying value	17,400	22,200
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, net carrying value	$ 16,700	$ 23,700
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

Financial and Derivative Inst_3

Financial and Derivative Instruments - Fair Value of Derivatives (Details) - Commodity - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Assets at Fair Value	$ 140	$ 313
Total Liabilities at Fair Value	364	72
Accounts and notes receivable, net
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Assets at Fair Value	114	251
Long-term receivables, net
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Assets at Fair Value	26	62
Accounts payable
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Liabilities at Fair Value	350	71
Deferred credits and other noncurrent obligations
Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments
Total Liabilities at Fair Value	$ 14	$ 1

Financial and Derivative Inst_4

Financial and Derivative Instruments - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Deferred losses in accumulated other comprehensive losses due to Outstanding crude oil price hedging contracts	$ (29,000,000)
Cash Flow Hedging | Sales and other operating revenues
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivative instruments, net, pretax	$ 2,000,000	$ 0

Financial and Derivative Inst_5

Financial and Derivative Instruments - Effect of Derivatives (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Pre-tax deferred losses	$ (29)	$ 2	$ (31)	$ 2
Commodity
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Effect of derivatives, gain (loss), net	(210)	(285)	(1,187)	(601)
Commodity | Sales and other operating revenues
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Effect of derivatives, gain (loss), net	(74)	(268)	(947)	(542)
Commodity | Purchased crude oil and products
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Effect of derivatives, gain (loss), net	(129)	(21)	(234)	(24)
Commodity | Other income
Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments
Effect of derivatives, gain (loss), net	$ (7)	$ 4	$ (6)	$ (35)

Financial and Derivative Inst_6

Financial and Derivative Instruments - Effect of Netting Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Not Designated
Offsetting Assets [Abstract]
Derivative Assets, Gross Amount Recognized	$ 3,946	$ 1,684
Derivative Assets, Gross Amounts Offset	3,835	1,371
Derivative Assets, Net Amounts Presented	111	313
Derivative Assets, Gross Amounts Not Offset	0	0
Derivative Assets, Net Amounts Presented	111	313
Offsetting Liabilities [Abstract]
Derivative Liabilities, Gross Amount Recognized	4,199	1,443
Derivative Liabilities, Gross Amounts Offset	3,835	1,371
Derivative Liabilities, Net Amounts Presented	364	72
Derivative Liabilities, Gross Amounts Not Offset	0	0
Derivative Liabilities, Net Amounts Presented	364	$ 72
Designated
Offsetting Assets [Abstract]
Derivative Assets, Gross Amount Recognized	39
Derivative Assets, Gross Amounts Offset	10
Derivative Assets, Net Amounts Presented	29
Derivative Assets, Gross Amounts Not Offset	0
Derivative Assets, Net Amounts Presented	29
Offsetting Liabilities [Abstract]
Derivative Liabilities, Gross Amount Recognized	10
Derivative Liabilities, Gross Amounts Offset	10
Derivative Liabilities, Net Amounts Presented	0
Derivative Liabilities, Gross Amounts Not Offset	0
Derivative Liabilities, Net Amounts Presented	$ 0

Revenue (Details)

Revenue (Details) - USD ($) $ in Billions	Jun. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Receivables	$ 18.7	$ 12.9

Financial Instruments - Credi_2

Financial Instruments - Credit Losses (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Allowance for credit loss	$ 780	$ 745
Trade receivable	24,200
Non-trade receivable	4,100
Investments and Advances
Related Party Transaction [Line Items]
Allowance for credit loss	$ 560	$ 560

Acquisition of Renewable Ener_3

Acquisition of Renewable Energy Group, Inc. - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 13, 2022	Jun. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 4,663	$ 4,385
Renewable Energy Group, Inc.
Business Acquisition [Line Items]
Consideration transferred	$ 3,150
Share price (USD per share)	$ 61.50
Long-term debt and finance leases	$ 590
Goodwill	$ 293

Business Combinations and Asset

Business Combinations and Asset Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Jun. 30, 2022	Jun. 13, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 4,663		$ 4,385
Renewable Energy Group, Inc.
Business Acquisition [Line Items]
Current assets		$ 1,584
Properties, plant and equipment		1,778
Deferred tax		92
Other assets		374
Total assets acquired		3,828
Current liabilities		301
Long-term debt and finance leases		590
Other liabilities		75
Total liabilities assumed		966
Net assets acquired		2,862
Goodwill		293
Purchase Price		$ 3,155