Chevron (CVX) 10-K 21 Feb 25 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2024	Feb. 07, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
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	1400 Smith Street
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002-7327
City Area Code	832
Local Phone Number	854-1000
Title of 12(b) Security	Common stock, par value $.75 per share
Trading Symbol	CVX
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 286.1
Entity Common Stock, Shares Outstanding		1,760,598,537
Documents Incorporated by Reference	Notice of the 2025 Annual Meeting and 2025 Proxy Statement, to be filed pursuant to Rule 14a-6(b) under the Securities Exchange Act of 1934, in connection with the company’s 2025 Annual Meeting of Stockholders (in Part III)
Entity Central Index Key	0000093410
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2024
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	San Francisco, California
Auditor Firm ID	238

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues and Other Income
Sales and other operating revenues	$ 193,414	$ 196,913	$ 235,717
Income (loss) from equity affiliates	4,596	5,131	8,585
Other income (loss)	4,782	(1,095)	1,950
Total Revenues and Other Income	202,792	200,949	246,252
Costs and Other Deductions
Purchased crude oil and products	119,206	119,196	145,416
Operating expenses	27,464	24,887	24,714
Selling, general and administrative expenses	4,834	4,141	4,312
Exploration expenses	995	914	974
Depreciation, depletion and amortization	17,282	17,326	16,319
Taxes other than on income	4,716	4,220	4,032
Interest and debt expense	594	469	516
Other components of net periodic benefit costs	195	212	295
Total Costs and Other Deductions	175,286	171,365	196,578
Income (Loss) Before Income Tax Expense	27,506	29,584	49,674
Income Tax Expense (Benefit)	9,757	8,173	14,066
Net Income (Loss)	17,749	21,411	35,608
Less: Net income (loss) attributable to noncontrolling interests	88	42	143
Net Income (Loss) Attributable to Chevron Corporation	$ 17,661	$ 21,369	$ 35,465
Net Income (Loss) Attributable to Chevron Corporation
Basic (in dollars per share)	$ 9.76	$ 11.41	$ 18.36
Diluted (in dollars per share)	$ 9.72	$ 11.36	$ 18.28

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 17,749	$ 21,411	$ 35,608
Currency translation adjustment
Unrealized net change arising during period	(67)	11	(41)
Unrealized holding gain (loss) on securities
Net gain (loss) arising during period	(8)	1	(1)
Derivatives
Net derivatives gain (loss) on hedge transactions	(50)	(11)	65
Reclassification to net income	25	33	(80)
Income tax benefit (cost) on derivatives transactions	6	(5)	3
Total	(19)	17	(12)
Actuarial gain (loss)
Amortization to net income of net actuarial loss and settlements	247	244	599
Actuarial gain (loss) arising during period	228	(550)	1,050
Prior service credits (cost)
Amortization to net income of net prior service costs and curtailments	(10)	(13)	(19)
Prior service (costs) credits arising during period	(48)	(29)	(96)
Defined benefit plans sponsored by equity affiliates - benefit (cost)	(19)	6	100
Income tax benefit (cost) on defined benefit plans	(104)	151	(489)
Total	294	(191)	1,145
Other Comprehensive Gain (Loss), Net of Tax	200	(162)	1,091
Comprehensive Income (Loss)	17,949	21,249	36,699
Comprehensive loss (income) attributable to noncontrolling interests	(88)	(42)	(143)
Comprehensive Income (Loss) Attributable to Chevron Corporation	$ 17,861	$ 21,207	$ 36,556

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Millions		Dec. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents		$ 6,781	$ 8,178
Time deposits		4	0
Marketable securities		0	45
Accounts and notes receivable (less allowance: 2024 - $259; 2023 - $301)		20,684	19,921
Inventories:
Crude oil and products		6,490	6,059
Chemicals		502	406
Materials, supplies and other		2,082	2,147
Total inventories		9,074	8,612
Prepaid expenses and other current assets		4,368	4,372
Total Current Assets		40,911	41,128
Long-term receivables, net (less allowances: 2024 - $352; 2023 - $340)		877	942
Investments and advances		47,438	46,812
Properties, plant and equipment, at cost		345,933	346,081
Less: Accumulated depreciation, depletion and amortization		198,134	192,462
Properties, plant and equipment, net		147,799	153,619
Deferred charges and other assets		14,854	13,734
Goodwill		4,578	4,722
Assets held for sale		481	675
Total Assets		256,938	261,632
Liabilities and Equity
Short-term debt		4,406	529
Accounts payable		22,079	20,423
Accrued liabilities		8,486	7,655
Federal and other taxes on income		1,872	1,863
Other taxes payable		1,715	1,788
Total Current Liabilities		38,558	32,258
Long-term debt	[1]	20,135	20,307
Deferred credits and other noncurrent obligations		22,094	24,226
Noncurrent deferred income taxes		19,137	18,830
Noncurrent employee benefit plans		3,857	4,082
Total Liabilities	[2]	103,781	99,703
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 December 31, 2024 and 2023)		1,832	1,832
Capital in excess of par value		21,671	21,365
Retained earnings		205,852	200,025
Accumulated other comprehensive losses		(2,760)	(2,960)
Deferred compensation and benefit plan trust		(240)	(240)
Treasury stock, at cost (2024 - 673,664,306 shares; 2023 - 577,028,776 shares)		(74,037)	(59,065)
Total Chevron Corporation Stockholders’ Equity		152,318	160,957
Noncontrolling interests (includes redeemable noncontrolling interest of $0 and $166 at December 31, 2024 and 2023)		839	972
Total Equity		153,157	161,929
Total Liabilities and Equity		$ 256,938	$ 261,632
[1] 1 Includes finance lease liabilities of $546 and $574 at December 31, 2024 and 2023, respectively. 2 Refer to Note 24 Other Contingencies and Commitments .

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for accounts and notes receivable, current	$ 259	$ 301
Allowance for long-term receivables, noncurrent	$ 352	$ 340
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, shares (in shares)	673,664,306	577,028,776
Redeemable mezzanine equity	$ 0	$ 166
Finance lease liabilities	$ 546	$ 574

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Operating Activities
Net Income (Loss)	$ 17,749	$ 21,411	$ 35,608
Adjustments
Depreciation, depletion and amortization	17,282	17,326	16,319
Dry hole expense	429	436	486
Distributions more (less) than income from equity affiliates	(366)	(885)	(4,730)
Net before-tax gains on asset retirements and sales	(1,685)	(138)	(550)
Net foreign currency effects	(629)	578	(412)
Deferred income tax provision	1,240	298	2,124
Net decrease (increase) in operating working capital	1,211	(3,185)	2,125
Decrease (increase) in long-term receivables	114	150	153
Net decrease (increase) in other deferred charges	(1,225)	(300)	(212)
Cash contributions to employee pension plans	(844)	(1,120)	(1,322)
Other	(1,784)	1,038	13
Net Cash Provided by Operating Activities	31,492	35,609	49,602
Investing Activities
Acquisition of businesses, net of cash received	0	55	(2,862)
Capital expenditures	(16,448)	(15,829)	(11,974)
Proceeds and deposits related to asset sales and returns of investment	7,704	669	2,635
Net maturities of (investments in) time deposits	(4)	0	0
Net sales (purchases) of marketable securities	45	175	117
Net repayment (borrowing) of loans by equity affiliates	(233)	(302)	(24)
Net Cash Used for Investing Activities	(8,936)	(15,232)	(12,108)
Financing Activities
Net borrowings (repayments) of short-term obligations	4,868	135	263
Proceeds from issuances of long-term debt	478	150	0
Repayments of long-term debt and other financing obligations	(1,778)	(4,340)	(8,742)
Cash dividends - common stock	(11,801)	(11,336)	(10,968)
Net contributions from (distributions to) noncontrolling interests	(195)	(40)	(114)
Net sales (purchases) of treasury shares	(15,044)	(14,678)	(5,417)
Net Cash Provided by (Used for) Financing Activities	(23,472)	(30,109)	(24,978)
Effect of Exchange Rate Changes on Cash, Cash Equivalents and Restricted Cash	(97)	(114)	(190)
Net Change in Cash, Cash Equivalents and Restricted Cash	(1,013)	(9,846)	12,326
Cash, Cash Equivalents and Restricted Cash at January 1	9,275	19,121	6,795
Cash, Cash Equivalents and Restricted Cash at December 31	$ 8,262	$ 9,275	$ 19,121

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($) $ in Millions		Total	Chevron Corp. Stockholders' Equity	Common Stock		Retained Earnings	Acc. Other Comprehensive Income (Loss)	Treasury Stock (at cost)	Noncontrolling Interests
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		63	63	63	[1]
Net income (loss)		35,608	35,465			35,465			143
Cash dividends		(11,086)	(10,968)			(10,968)			(118)
Stock dividends		(3)	(3)			(3)
Other comprehensive income		1,091	1,091				1,091
Purchases of treasury shares		(11,255)	(11,255)					(11,255)
Issuances of treasury shares		5,838	5,838	1,315	[1]			4,523
Other changes, net		46	(16)			(16)			62
Ending balance at Dec. 31, 2022		160,242	159,282	$ 20,252	[1]	190,024	(2,798)	$ (48,196)	960
Beginning balance, shares issued (in shares) at Dec. 31, 2021	[2]			2,442,676,580
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)				(69,912,961)				(69,912,961)
Issuances (in shares)				55,323,247				55,323,247
Ending balance, shares issued (in shares) at Dec. 31, 2022	[2]			2,442,676,580
Ending balance, treasury shares (in shares) at Dec. 31, 2022								(527,460,237)
Ending balance, shares outstanding (in shares) at Dec. 31, 2022				1,915,216,343
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		174	174	$ 174	[1]
PDC Energy, Inc. acquisition		6,520	6,520	2,550	[1]			$ 3,970
Net income (loss)		21,411	21,369			21,369			42
Cash dividends		(11,390)	(11,336)			(11,336)			(54)
Stock dividends		(9)	(9)			(9)
Other comprehensive income		(162)	(162)				(162)
Purchases of treasury shares		(15,085)	(15,085)					(15,085)
Issuances of treasury shares		263	263	17	[1]			246
Other changes, net		(35)	(59)	(36)	[1]	(23)			24
Ending balance at Dec. 31, 2023		$ 161,929	160,957	$ 22,957	[1]	200,025	(2,960)	$ (59,065)	972
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)				(92,849,905)				(92,849,905)
Issuances (in shares)				43,281,366				43,281,366
Ending balance, shares issued (in shares) at Dec. 31, 2023		2,442,676,580		2,442,676,580	[2]
Ending balance, treasury shares (in shares) at Dec. 31, 2023		(577,028,776)						(577,028,776)
Ending balance, shares outstanding (in shares) at Dec. 31, 2023				1,865,647,804
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury stock transactions		$ 255	255	$ 255	[1]
Net income (loss)		17,749	17,661			17,661			88
Cash dividends		(12,011)	(11,801)			(11,801)			(210)
Stock dividends		(22)	(22)			(22)
Other comprehensive income		200	200				200
Purchases of treasury shares	[3]	(15,374)	(15,374)					$ (15,374)
Issuances of treasury shares		453	453	51	[1]			402
Other changes, net		(22)	(11)			(11)			(11)
Ending balance at Dec. 31, 2024		$ 153,157	$ 152,318	$ 23,263	[1]	$ 205,852	$ (2,760)	$ (74,037)	$ 839
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Purchases (in shares)				(100,444,608)				(100,444,608)
Issuances (in shares)				3,809,078				3,809,078
Ending balance, shares issued (in shares) at Dec. 31, 2024		2,442,676,580		2,442,676,580	[2]
Ending balance, treasury shares (in shares) at Dec. 31, 2024		(673,664,306)						(673,664,306)
Ending balance, shares outstanding (in shares) at Dec. 31, 2024				1,769,012,274
[1] 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. 3 Beginning and ending total issued share balances include 14,168,000 shares associated with Chevron’s Benefit Plan Trust. 2 Includes excise tax on share repurchases.

Consolidated Statement of Equ_2

Consolidated Statement of Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 6.52	$ 6.04	$ 5.68
Common stock issued at par	$ 1,832	$ 1,832	$ 1,832	$ 1,832
Benefit plan trust	$ (240)	$ (240)	$ (240)	$ (240)
Number of Chevron treasury stocks held in benefit plan trust for funding obligations (in shares)	14,168,000	14,168,000	14,168,000	14,168,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies General The company’s Consolidated Financial Statements are prepared in accordance with accounting principles generally accepted in the United States of America. These require the use of estimates and assumptions that affect the assets, liabilities, revenues and expenses reported in the financial statements, as well as amounts included in the notes thereto, including discussion and disclosure of contingent liabilities. Although the company uses its best estimates and judgments, actual results could differ from these estimates as circumstances change and additional information becomes known. Prior years’ data have been reclassified in certain cases to conform to the 2024 presentation basis. Subsidiary and Affiliated Companies The Consolidated Financial Statements include the accounts of controlled subsidiary companies more than 50 percent-owned and any variable interest entities in which the company is the primary beneficiary. Undivided interests in oil and gas joint ventures and certain other assets are consolidated on a proportionate basis. Investments in and advances to affiliates in which the company has a substantial ownership interest of approximately 20 percent to 50 percent, or for which the company exercises significant influence but not control over policy decisions, are accounted for by the equity method. Investments in affiliates are assessed for possible impairment when events indicate that the fair value of the investment may be below the company’s carrying value. When such a condition is deemed to be other than temporary, the carrying value of the investment is written down to its fair value, and the amount of the write-down is included in net income. In making the determination as to whether a decline is other than temporary, the company considers such factors as the duration and extent of the decline, the investee’s financial performance, and the company’s ability and intention to retain its investment for a period that will be sufficient to allow for any anticipated recovery in the investment’s market value. The new cost basis of investments in these equity investees is not changed for subsequent recoveries in fair value. Differences between the company’s carrying value of an equity investment and its underlying equity in the net assets of the affiliate are assigned to the extent practicable to specific assets and liabilities based on the company’s analysis of the various factors giving rise to the difference. When appropriate, the company’s share of the affiliate’s reported earnings is adjusted quarterly to reflect the difference between these allocated values and the affiliate’s historical book values. Noncontrolling Interests Ownership interests in the company’s subsidiaries held by parties other than the parent are presented separately from the parent’s equity on the Consolidated Balance Sheet. The amount of consolidated net income attributable to the parent and the noncontrolling interests are both presented on the face of the Consolidated Statement of Income and Consolidated Statement of Equity. Included within noncontrolling interest is redeemable noncontrolling interest. 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 a liability are as follows. Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or liability. Level 3 inputs are inputs that are not observable in the market. Derivatives The majority of the company’s activity in derivative commodity instruments is intended to manage the financial risk posed by physical transactions. For some of this derivative activity, the company may elect to apply fair value or cash flow hedge accounting with changes in fair value recorded as components of accumulated other comprehensive income (loss). For other similar derivative instruments, generally because of the short-term nature of the contracts or their limited use, the company does not apply hedge accounting, and changes in the fair value of those contracts are reflected in current income. For the company’s commodity trading activity, gains and losses from derivative instruments are reported in current income. The company may enter into interest rate swaps from time to time as part of its overall strategy to manage the interest rate risk on its debt. Interest rate swaps related to a portion of the company’s fixed-rate debt, if any, may be accounted for as fair value hedges. Interest rate swaps related to floating-rate debt, if any, are recorded at fair value on the balance sheet with resulting gains and losses reflected in income. Where Chevron is a party to master netting arrangements, fair value receivable and payable amounts recognized for derivative instruments executed with the same counterparty are generally offset on the balance sheet. Inventories Crude oil, products and chemicals inventories are generally stated at cost, using a last-in, first-out method. In the aggregate, these costs are below market. “Materials, supplies and other” inventories are primarily stated at cost or net realizable value. Properties, Plant and Equipment The successful efforts method is used for crude oil and natural gas exploration and production activities. All costs for development wells, related plant and equipment, proved mineral interests in crude oil and natural gas properties, and related asset retirement obligation (ARO) assets are capitalized. Costs of exploratory wells are capitalized pending determination of whether the wells found proved reserves. Costs of wells that are assigned proved reserves remain capitalized. Costs also are capitalized for exploratory wells that have found crude oil and natural gas reserves even if the reserves cannot be classified as proved when the drilling is completed, provided the exploratory well has found a sufficient quantity of reserves to justify its completion as a producing well and the company is making sufficient progress assessing the reserves and the economic and operating viability of the project. All other exploratory wells and costs are expensed. Refer to Note 21 Accounting for Suspended Exploratory Wells for additional discussion of accounting for suspended exploratory well costs. Long-lived assets to be held and used, including proved crude oil and natural gas properties, are assessed for possible impairment by comparing their carrying values with their associated undiscounted, future net cash flows. Events that can trigger assessments for possible impairments include write-downs of proved reserves based on field performance, significant decreases in the market value of an asset (including changes to the commodity price forecast or carbon costs), significant change in the extent or manner of use of or a physical change in an asset, and a more likely than not expectation that a long-lived asset or asset group will be sold or otherwise disposed of significantly sooner than the end of its previously estimated useful life. Impaired assets are written down to their estimated fair values, generally their discounted, future net cash flows. For proved crude oil and natural gas properties, the company performs impairment reviews on a country, concession, PSC, development area or field basis, as appropriate. In downstream, impairment reviews are performed on the basis of a refinery, a plant, a marketing/lubricants area or distribution area, as appropriate. Impairment amounts are recorded as incremental “Depreciation, depletion and amortization” expense. Long-lived assets that are held for sale are evaluated for possible impairment by comparing the carrying value of the asset with its fair value less the cost to sell. If the net book value exceeds the fair value less cost to sell, the asset is considered impaired and adjusted to the lower value. Refer to Note 9 Fair Value Measurements relating to fair value measurements. The fair value of a liability for an ARO is recorded as an asset and a liability when there is a legal obligation associated with the retirement of a long-lived asset and the amount can be reasonably estimated. Refer also to Note 25 Asset Retirement Obligations relating to AROs. Depreciation and depletion of all capitalized costs of proved crude oil and natural gas producing properties, except mineral interests, are expensed using the unit-of-production method, generally by individual field, as the proved developed reserves are produced. Depletion expenses for capitalized costs of proved mineral interests are recognized using the unit-of-production method by individual field as the related proved reserves are produced. Impairments of capitalized costs of unproved mineral interests are expensed. The capitalized costs of all other plant and equipment are depreciated or amortized over their estimated useful lives. In general, the declining-balance method is used to depreciate plant and equipment in the United States; the straight-line method is generally used to depreciate international plant and equipment and to amortize finance lease right-of-use assets. Gains or losses are not recognized for normal retirements of properties, plant and equipment subject to composite group amortization or depreciation. Gains or losses from abnormal retirements are recorded as expenses, and from sales as “Other income.” Expenditures for maintenance (including those for planned major maintenance projects), repairs and minor renewals to maintain facilities in operating condition are generally expensed as incurred. Major replacements and renewals are capitalized. Leases Leases are classified as operating or finance leases. Both operating and finance leases recognize lease liabilities and associated right-of-use assets. The company has elected the short-term lease exception and therefore only recognizes right-of-use assets and lease liabilities for leases with a term greater than one year. The company has elected the practical expedient to not separate non-lease components from lease components for most asset classes except for certain asset classes that have significant non-lease (i.e., service) components. Where leases are used in joint ventures, the company recognizes 100 percent of the right-of-use assets and lease liabilities when the company is the sole signatory for the lease (in most cases, where the company is the operator of a joint venture). Lease costs reflect only the costs associated with the operator’s working interest share. The lease term includes the committed lease term identified in the contract, taking into account renewal and termination options that management is reasonably certain to exercise. The company uses its incremental borrowing rate as a proxy for the discount rate based on the term of the lease unless the implicit rate is available. Decommissioning Obligations from Previously Divested Assets Some assets are divested with their related liabilities, including decommissioning obligations, to a buyer that results in de-recognition of the liability from the balance sheet. In certain instances, such transferred obligations may return to the company and result in losses. To the extent the current owners of the company’s previously divested assets default on their decommissioning obligations, regulators may require that Chevron assume such obligations. The company would accrue losses associated with these obligations when management determines the loss to be both probable and reasonably estimable. This typically requires judgment to assess the likelihood of decommissioning obligations reverting to the company, the timing of decommissioning activity, regulatory requirements and the scope of decommissioning activities. For more information on decommissioning obligations related to previously divested assets, refer to Note 24 Other Contingencies and Commitments . Goodwill Goodwill resulting from a business combination is not subject to amortization. The company tests such goodwill at the reporting unit level for impairment annually at December 31, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. Environmental Expenditures Environmental expenditures that relate to ongoing operations or to conditions caused by past operations are expensed. Expenditures that create future benefits or contribute to future revenue generation are capitalized. Liabilities related to future remediation costs are recorded when environmental assessments or cleanups or both are probable and the costs can be reasonably estimated. For crude oil, natural gas and mineral-producing properties, a liability for an ARO is made in accordance with accounting standards for asset retirement and environmental obligations. Refer to Note 25 Asset Retirement Obligations for a discussion of the company’s AROs. For U.S. federal Superfund sites and analogous sites under state laws, the company records a liability for its designated share of the probable and estimable costs, and probable amounts for other potentially responsible parties when mandated by the regulatory agencies because the other parties are not able to pay their respective shares. The gross amount of environmental liabilities is based on the company’s best estimate of future costs using currently available technology and applying current regulations and the company’s own internal environmental policies. Future amounts are not discounted. Recoveries or reimbursements are recorded as assets when receipt is reasonably assured. Currency Translation The U.S. dollar is the functional currency for substantially all of the company’s consolidated operations and those of its equity affiliates. For those operations, all gains and losses from currency remeasurement are included in current period income. The cumulative translation effects for those few entities, both consolidated and affiliated, using functional currencies other than the U.S. dollar are included in “Currency translation adjustment” on the Consolidated Statement of Equity. Revenue Recognition The company accounts for each delivery order of crude oil, NGLs, natural gas, petroleum and chemical products as a separate performance obligation. Revenue is recognized when the performance obligation is satisfied, which typically occurs at the point in time when control of the product transfers to the customer. Payment is generally due within 30 days of delivery. The company accounts for delivery transportation as a fulfillment cost, not a separate performance obligation, and recognizes these costs as an operating expense in the period when revenue for the related commodity is recognized. Revenue is measured as the amount the company expects to receive in exchange for transferring commodities to the customer. The company’s commodity sales are typically based on prevailing market-based prices and may include discounts and allowances. Until market prices become known under terms of the company’s contracts, the transaction price included in revenue is based on the company’s estimate of the most likely outcome. Discounts and allowances are estimated using a combination of historical and recent data trends. When deliveries contain multiple products, an observable standalone selling price is generally used to measure revenue for each product. The company includes estimates in the transaction price only to the extent that a significant reversal of revenue is not probable in subsequent periods. Stock Options and Other Share-Based Compensation The company issues stock options and other share-based compensation to certain employees. For equity awards, such as stock options and certain restricted stock units, total compensation cost is based on the grant date fair value, and for liability awards, such as stock appreciation rights, total compensation cost is based on the settlement value. The company recognizes stock-based compensation expense for all awards over the service period required to earn the award, which is the shorter of the vesting period or the time period in which an employee becomes eligible to retain the award at retirement. For more information on stock options and other share-based compensation, refer to Note 22 Stock Options and Other Share-Based Compensation .

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Losses	12 Months Ended
	Dec. 31, 2024
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 year ended December 31, 2024, are reflected in the table below. Currency Translation Adjustments Unrealized Holding Gains (Losses) on Securities Derivatives Defined Benefit Plans Total Balance at December 31, 2021 $ (162) $ (11) $ — $ (3,716) $ (3,889) Components of Other Comprehensive Income (Loss) 1 : Before Reclassifications (41) (1) 68 703 729 Reclassifications 2, 3 — — (80) 442 362 Net Other Comprehensive Income (Loss) (41) (1) (12) 1,145 1,091 Balance at December 31, 2022 $ (203) $ (12) $ (12) $ (2,571) $ (2,798) Components of Other Comprehensive Income (Loss) 1 : Before Reclassifications 11 1 (16) (397) (401) Reclassifications 2, 3 — — 33 206 239 Net Other Comprehensive Income (Loss) 11 1 17 (191) (162) Balance at December 31, 2023 $ (192) $ (11) $ 5 $ (2,762) $ (2,960) Components of Other Comprehensive Income (Loss) 1 : Before Reclassifications (67) (8) (44) 119 — Reclassifications 2, 3 — — 25 175 200 Net Other Comprehensive Income (Loss) (67) (8) (19) 294 200 Balance at December 31, 2024 $ (259) $ (19) $ (14) $ (2,468) $ (2,760) 1 All amounts are net of tax. 2 Refer to Note 23 Employee Benefit Plans , for reclassified components, including amortization of actuarial gains or losses, amortization of prior service costs and settlement losses, totaling $237 that are included in employee benefit costs for the year ended December 31, 2024. Related income taxes for the same period, totaling $62, are reflected in Income Tax Expense on the Consolidated Statement of Income. All other reclassified amounts were insignificant. 3 Refer to Note 10 Financial and Derivative Instruments for cash flow hedging.

Information Relating to the Con

Information Relating to the Consolidated Statement of Cash Flows	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Information Relating to the Consolidated Statement of Cash Flows	Information Relating to the Consolidated Statement of Cash Flows Year ended December 31 2024 2023 2022 Distributions more (less) than income from equity affiliates includes the following: Distributions from equity affiliates $ 4,230 $ 4,246 $ 3,855 (Income) loss from equity affiliates (4,596) (5,131) (8,585) Distributions more (less) than income from equity affiliates $ (366) $ (885) $ (4,730) Net decrease (increase) in operating working capital was composed of the following: Decrease (increase) in accounts and notes receivable $ (932) $ 1,187 $ (2,317) Decrease (increase) in inventories (574) (320) (930) Decrease (increase) in prepaid expenses and other current assets (16) (1,202) (226) Increase (decrease) in accounts payable and accrued liabilities 2,569 (49) 2,750 Increase (decrease) in income and other taxes payable 164 (2,801) 2,848 Net decrease (increase) in operating working capital $ 1,211 $ (3,185) $ 2,125 Net cash provided by operating activities includes the following cash payments: Interest on debt (net of capitalized interest) $ 587 $ 465 $ 525 Income taxes 8,458 10,416 9,148 Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts: Proceeds and deposits related to asset sales $ 7,509 $ 446 $ 1,435 Returns of investment from equity affiliates 195 223 1,200 Proceeds and deposits related to asset sales and returns of investment $ 7,704 $ 669 $ 2,635 Net maturities (investments) of time deposits consisted of the following gross amounts: Investments in time deposits $ (6) $ — $ — Maturities of time deposits 2 — — Net maturities of (investments in) time deposits $ (4) $ — $ — Net sales (purchases) of marketable securities consisted of the following gross amounts: Marketable securities purchased $ — $ (289) $ (7) Marketable securities sold 45 464 124 Net sales (purchases) of marketable securities $ 45 $ 175 $ 117 Net repayment (borrowing) of loans by equity affiliates: Borrowing of loans by equity affiliates $ (304) $ (368) $ (108) Repayment of loans by equity affiliates 71 66 84 Net repayment (borrowing) of loans by equity affiliates $ (233) $ (302) $ (24) Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts: Repayments of short-term obligations $ (840) $ — $ — Proceeds from issuances of short-term debt obligations 4,539 — — Net borrowings (repayments) of short-term obligations with three months or less maturity 1,169 135 263 Net borrowings (repayments) of short-term obligations $ 4,868 $ 135 $ 263 Net sales (purchases) of treasury shares consists of the following gross and net amounts: Shares issued for share-based compensation plans $ 330 $ 261 $ 5,838 Shares purchased under share repurchase and deferred compensation plans (15,229) (14,939) (11,255) Share repurchase excise tax payments (145) — — Net sales (purchases) of treasury shares $ (15,044) $ (14,678) $ (5,417) Net contributions from (distributions to) noncontrolling interests consisted of the following gross and net amounts: Distributions to noncontrolling interests $ (210) $ (54) $ (118) Contributions from noncontrolling interests 15 14 4 Net contributions from (distributions to) noncontrolling interests $ (195) $ (40) $ (114) The “Other” line in the Operating Activities section includes changes in asset retirement obligations, decommissioning obligations associated with previously divested assets, post-employment benefit obligations and other long-term liabilities. Refer also to Note 25 Asset Retirement Obligations for a discussion of the company’s AROs activity, including revisions that did not involve cash receipts or payments . The Consolidated Statement of Cash Flows excludes changes to the Consolidated Balance Sheet that did not affect cash. “Depreciation, depletion and amortization” and “Deferred income tax provision” collectively include approximately $400 in non-cash reductions to “Properties, plant and equipment” and “Investments and advances” in 2024 relating to impairments. “Operating expenses” and “Deferred income tax provision” include an approximately $715 severance charge related to non-cash increases to “Net decrease (increase) in operating working capital” and “Other” associated with employee severance. The cash outlay for severance payments is expected to take place through 2026. The components of “Capital expenditures” are presented in the following table: Year ended December 31 2024 2023 2022 Additions to properties, plant and equipment * $ 15,544 $ 14,788 $ 10,349 Additions to investments 573 690 1,147 Current-year dry hole expenditures 331 326 309 Payments for other assets and liabilities, net — 25 169 Capital expenditures $ 16,448 $ 15,829 $ 11,974 * Excludes non-cash movements of $395 in 2024, $1,559 in 2023 and $316 in 2022. The table below quantifies the beginning and ending balances of restricted cash and restricted cash equivalents in the Consolidated Balance Sheet: Year ended December 31 2024 2023 2022 Cash and cash equivalents $ 6,781 $ 8,178 $ 17,678 Restricted cash included in “Prepaid expenses and other current assets” 281 275 630 Restricted cash included in “Deferred charges and other assets” 1,200 822 813 Total cash, cash equivalents and restricted cash $ 8,262 $ 9,275 $ 19,121

New Accounting Standards

New Accounting Standards	12 Months Ended
	Dec. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	New Accounting Standards Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures The company has adopted the Financial Accounting Standards Board (FASB) Accounting Standard Update (ASU) 2023-07 which is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The standard requires companies to disclose significant segment expenses. The adoption of this ASU did not have an impact on the company’s consolidated financial position or results of operations. For additional information, refer to Note 14 Operating Segments and Geographic Data . Income Taxes (Topic 740) Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, which becomes effective for fiscal years beginning after December 15, 2024. The standard requires companies to disclose specific categories in the income tax rate reconciliation table and the amount of income taxes paid per major jurisdiction. The company does not expect the standard to have a material effect on its consolidated financial statements and continues to evaluate disclosure presentation alternatives. Income Statement (Topic 220) Reporting Comprehensive Income - Expense Disaggregation Disclosures In November 2024, the FASB issued ASU 2024-03, which becomes effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The standard requires companies to disclose disaggregated information about certain income statement expense line items. The company does not expect the standard to have a material effect on its consolidated financial statements and has begun evaluating disclosure presentation alternatives.

Lease Commitments

Lease Commitments	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Lease Commitments	Lease Commitments The company enters into leasing arrangements as a lessee; any lessor arrangements are not significant. Operating lease arrangements mainly involve land, bareboat charters, terminals, drill ships, drilling rigs, time chartered vessels, office buildings and warehouses, and exploration and production equipment. Finance leases primarily include facilities, vessels and office buildings. Details of the right-of-use assets and lease liabilities for operating and finance leases, including the balance sheet presentation, are as follows: At December 31, 2024 At December 31, 2023 Operating Finance Operating Finance Deferred charges and other assets $ 5,315 $ — $ 5,422 $ — Properties, plant and equipment, net — 570 — 583 Right-of-use assets* $ 5,315 $ 570 $ 5,422 $ 583 Accrued liabilities $ 1,519 $ — $ 1,538 $ — Short-term debt — 58 — 60 Current lease liabilities 1,519 58 1,538 60 Deferred credits and other noncurrent obligations 3,551 — 3,696 — Long-term debt — 546 — 574 Noncurrent lease liabilities 3,551 546 3,696 574 Total lease liabilities $ 5,070 $ 604 $ 5,234 $ 634 Weighted-average remaining lease term (in years) 6.3 13.2 6.7 12.6 Weighted-average discount rate 3.7 % 4.6 % 3.3 % 4.5 % * Includes non-cash additions of $2,205 and $40 in 2024, and $2,556 and $233 in 2023 for right-of-use assets obtained in exchange for new and modified lease liabilities for operating and finance leases, respectively. Total lease costs consist of both amounts recognized in the Consolidated Statement of Income during the period and amounts capitalized as part of the cost of another asset. Total lease costs incurred for operating and finance leases were as follows: Year-ended December 31 2024 2023 2022 Operating lease costs* $ 3,447 $ 2,984 $ 2,359 Finance lease costs 83 52 57 Total lease costs $ 3,530 $ 3,036 $ 2,416 * Includes variable and short-term lease costs. Cash paid for amounts included in the measurement of lease liabilities was as follows: Year-ended December 31 2024 2023 2022 Operating cash flows from operating leases $ 2,468 $ 2,271 $ 1,892 Investing cash flows from operating leases 979 713 467 Operating cash flows from finance leases 26 15 18 Financing cash flows from finance leases 67 42 44 At December 31, 2024, the estimated future undiscounted cash flows for operating and finance leases were as follows: At December 31, 2024 Operating Leases Finance Year 2025 $ 1,665 $ 83 2026 1,162 80 2027 833 73 2028 555 69 2029 275 64 Thereafter 1,276 445 Total $ 5,766 $ 814 Less: Amounts representing interest 696 210 Total lease liabilities $ 5,070 $ 604 Additionally, the company has $403 in future undiscounted cash flows for operating leases not yet commenced. These leases are primarily for drilling rigs, time chartered vessels, exploration and production equipment and storage tanks. For those leasing arrangements where the underlying asset is not yet constructed, the lessor is primarily involved in the design and construction of the asset.
Lease Commitments	Lease Commitments The company enters into leasing arrangements as a lessee; any lessor arrangements are not significant. Operating lease arrangements mainly involve land, bareboat charters, terminals, drill ships, drilling rigs, time chartered vessels, office buildings and warehouses, and exploration and production equipment. Finance leases primarily include facilities, vessels and office buildings. Details of the right-of-use assets and lease liabilities for operating and finance leases, including the balance sheet presentation, are as follows: At December 31, 2024 At December 31, 2023 Operating Finance Operating Finance Deferred charges and other assets $ 5,315 $ — $ 5,422 $ — Properties, plant and equipment, net — 570 — 583 Right-of-use assets* $ 5,315 $ 570 $ 5,422 $ 583 Accrued liabilities $ 1,519 $ — $ 1,538 $ — Short-term debt — 58 — 60 Current lease liabilities 1,519 58 1,538 60 Deferred credits and other noncurrent obligations 3,551 — 3,696 — Long-term debt — 546 — 574 Noncurrent lease liabilities 3,551 546 3,696 574 Total lease liabilities $ 5,070 $ 604 $ 5,234 $ 634 Weighted-average remaining lease term (in years) 6.3 13.2 6.7 12.6 Weighted-average discount rate 3.7 % 4.6 % 3.3 % 4.5 % * Includes non-cash additions of $2,205 and $40 in 2024, and $2,556 and $233 in 2023 for right-of-use assets obtained in exchange for new and modified lease liabilities for operating and finance leases, respectively. Total lease costs consist of both amounts recognized in the Consolidated Statement of Income during the period and amounts capitalized as part of the cost of another asset. Total lease costs incurred for operating and finance leases were as follows: Year-ended December 31 2024 2023 2022 Operating lease costs* $ 3,447 $ 2,984 $ 2,359 Finance lease costs 83 52 57 Total lease costs $ 3,530 $ 3,036 $ 2,416 * Includes variable and short-term lease costs. Cash paid for amounts included in the measurement of lease liabilities was as follows: Year-ended December 31 2024 2023 2022 Operating cash flows from operating leases $ 2,468 $ 2,271 $ 1,892 Investing cash flows from operating leases 979 713 467 Operating cash flows from finance leases 26 15 18 Financing cash flows from finance leases 67 42 44 At December 31, 2024, the estimated future undiscounted cash flows for operating and finance leases were as follows: At December 31, 2024 Operating Leases Finance Year 2025 $ 1,665 $ 83 2026 1,162 80 2027 833 73 2028 555 69 2029 275 64 Thereafter 1,276 445 Total $ 5,766 $ 814 Less: Amounts representing interest 696 210 Total lease liabilities $ 5,070 $ 604 Additionally, the company has $403 in future undiscounted cash flows for operating leases not yet commenced. These leases are primarily for drilling rigs, time chartered vessels, exploration and production equipment and storage tanks. For those leasing arrangements where the underlying asset is not yet constructed, the lessor is primarily involved in the design and construction of the asset.

Summarized Financial Data - Che

Summarized Financial Data - Chevron U.S.A. Inc.	12 Months Ended
	Dec. 31, 2024
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 (NGLs) and those associated with the refining, marketing, supply and distribution of products derived from petroleum, excluding most of the regulated pipeline operations of Chevron. CUSA also holds the company’s investment in the Chevron Phillips Chemical Company LLC joint venture, which is accounted for using the equity method. The summarized financial information for CUSA and its consolidated subsidiaries is as follows: Year ended December 31 2024 2023 2022 Sales and other operating revenues $ 149,925 $ 152,347 $ 183,032 Total costs and other deductions 145,582 144,482 166,955 Net income (loss) attributable to CUSA 4,151 4,598 13,315 At December 31 2024 2023 Current assets $ 20,153 $ 19,489 Other assets 58,485 54,460 Current liabilities 25,825 20,624 Other liabilities 21,455 22,227 Total CUSA net equity $ 31,358 $ 31,098 Memo: Total debt $ 8,917 $ 9,740

Summarized Financial Data - Ten

Summarized Financial Data - Tengizchevroil LLP	12 Months Ended
	Dec. 31, 2024
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). Refer to Note 15 Investments and Advances for a discussion of TCO operations. Summarized financial information for 100 percent of TCO is presented in the table below: Year ended December 31 2024 2023 2022 Sales and other operating revenues $ 18,872 $ 19,758 $ 23,975 Costs and other deductions 10,616 10,193 11,956 Net income attributable to TCO 5,779 6,569 8,566 At December 31 2024 2023 Current assets $ 4,753 $ 3,919 Other assets 58,057 57,454 Current liabilities 3,203 2,372 Other liabilities 12,459 12,782 Total TCO net equity $ 47,148 $ 46,219

Restructuring and Reorganizatio

Restructuring and Reorganization Costs	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Reorganization Costs	Restructuring and Reorganization Costs In 2024, the company announced plans to achieve $2-3 billion in structural cost reductions by the end of 2026. As a result, the company recorded severance accruals during fourth quarter 2024 for employee reduction programs related to an enterprise-wide restructuring, which is expected to be substantially completed by the end of 2026. A charge of $980 was recorded in fourth quarter 2024, with $706 reported as “Operating expenses” and $274 reported as “Selling, general and administrative expenses” on the Consolidated Statement of Income. Approximately $240 is associated with employee reductions in U.S. Upstream, $197 in International Upstream, $247 in U.S. Downstream, $22 in International Downstream and $274 in All Other. Approximately $560 is classified as current and $430 is classified as long-term on the Consolidated Balance Sheet at December 31, 2024. The following table summarizes the accrued severance liability. Amounts Before Tax Balance at January 1, 2024 $ 6 Accruals/Adjustments 987 Payments (3) Balance at December 31, 2024 $ 990

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements 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 December 31, 2024. 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, if applicable. 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. Properties, Plant and Equipment In 2024, the company did not have any individually material impairments of long lived assets measured at fair value on a nonrecurring basis. In 2023, the company impaired a portion of its U.S. upstream assets, primarily in California, due to continuing regulatory challenges in the state that have resulted in lower anticipated future investment levels in its business plans. Investments and Advances The company did not have any material impairments of investments and advances measured at fair value on a nonrecurring basis to report in 2024 or 2023. The tables below show the fair value hierarchy for assets and liabilities measured at fair value on a recurring and nonrecurring basis at December 31, 2024 and 2023. Assets and Liabilities Measured at Fair Value on a Recurring Basis At December 31, 2024 At December 31, 2023 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Marketable securities $ — $ — $ — $ — $ 45 $ 45 $ — $ — Derivatives - not designated 137 127 10 — 152 24 128 — Derivatives - designated — — — — 7 7 — — Total assets at fair value $ 137 $ 127 $ 10 $ — $ 204 $ 76 $ 128 $ — Derivatives - not designated 136 47 89 — 262 160 102 — Derivatives - designated 17 17 — — — — — — Total liabilities at fair value $ 153 $ 64 $ 89 $ — $ 262 $ 160 $ 102 $ — Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis At December 31 At December 31 Before-Tax Loss Before-Tax Loss Total Level 1 Level 2 Level 3 Year 2024 Total Level 1 Level 2 Level 3 Year 2023 Properties, plant and equipment, net (held and used) $ 324 $ — $ — $ 324 $ 226 $ 484 $ — $ — $ 484 $ 2,175 Properties, plant and equipment, net (held for sale) 616 — 616 — 274 — — — — 5 Investments and advances 36 — 36 — 289 207 5 165 37 352 Total nonrecurring assets at fair value $ 976 $ — $ 652 $ 324 $ 789 $ 691 $ 5 $ 165 $ 521 $ 2,532 At year-end 2024, the company had assets measured at fair value Level 3 using unobservable inputs of $324. The carrying value of these assets were written down to fair value based on estimates derived from discounted cash flow models. Cash flows were determined using estimates of future production, an outlook of future price based on published prices and a discount rate believed to be consistent with those used by principal market participants. Assets and Liabilities Not Required to Be Measured at Fair Value The company holds cash equivalents in U.S. and non-U.S. portfolios. The instruments classified as cash equivalents are primarily bank time deposits with maturities of 90 days or less and money market funds. “Cash and cash equivalents” had carrying/fair values of $6,781 and $8,178 at December 31, 2024, and December 31, 2023, 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 December 31, 2024. “Cash and cash equivalents” do not include investments with a carrying/fair value of $1,481 and $1,097 at December 31, 2024, and December 31, 2023, respectively. At December 31, 2024, these investments are classified as Level 1 and include restricted funds mainly related to certain upstream decommissioning activities, a tax-deferred transaction and financing programs. Long-term debt, excluding finance lease liabilities, of $10,810 and $14,612 at December 31, 2024, and December 31, 2023, respectively, had estimated fair values of $9,791 and $13,709, respectively. Long-term debt primarily includes corporate issued bonds. At December 31, 2024, the fair value of corporate bonds is $9,243 and classified as Level 1 and the fair value of other long-term debt classified as Level 2 is $548.

Financial and Derivative Instru

Financial and Derivative Instruments	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial and Derivative Instruments	Financial and Derivative Instruments Derivative Commodity Instruments The company’s derivative commodity 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 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 commodity derivative activities. The company uses derivative commodity instruments traded on the New York Mercantile Exchange and on electronic platforms of the Inter-Continental Exchange and Chicago Mercantile Exchange. In addition, the company enters into swap contracts and option contracts principally with major financial institutions and other oil and gas companies in the “over-the-counter” markets, which are governed by International Swaps and Derivatives Association agreements and other master netting arrangements. Depending on the nature of the derivative transactions, bilateral collateral arrangements may also be required. Derivative instruments measured at fair value at December 31, 2024, 2023 and 2022, and their classification on the Consolidated Balance Sheet and Consolidated Statement of Income are as follows: Consolidated Balance Sheet: Fair Value of Derivatives At December 31 Type of Contract Balance Sheet Classification 2024 2023 Commodity Accounts and notes receivable $ 122 $ 151 Commodity Long-term receivables, net 15 8 Total assets at fair value $ 137 $ 159 Commodity Accounts payable $ 127 $ 216 Commodity Deferred credits and other noncurrent obligations 26 46 Total liabilities at fair value $ 153 $ 262 Consolidated Statement of Income: The Effect of Derivatives Gain/(Loss) Year ended December 31 Type of Contract Statement of Income Classification 2024 2023 2022 Commodity Sales and other operating revenues $ (57) $ (304) $ (651) Commodity Purchased crude oil and products 28 (154) (226) Commodity Other income (loss) 6 (47) 10 $ (23) $ (505) $ (867) The amount reclassified from AOCL to “Sales and other operating revenues” from designated hedges was a net loss of $25 in 2024, compared with a net loss of $33 in the prior year. At December 31, 2024, before-tax deferred losses in AOCL related to outstanding crude oil price hedging contracts were $17, all of which is expected to be reclassified into earnings during the next 12 months as the hedged crude oil sales are recognized in earnings. The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at December 31, 2024 and 2023. Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amounts At December 31, 2024 Derivative Assets - not designated $ 1,895 $ 1,758 $ 137 $ 3 $ 134 Derivative Assets - designated $ — $ — $ — $ — $ — Derivative Liabilities - not designated $ 1,894 $ 1,758 $ 136 $ 2 $ 134 Derivative Liabilities - designated $ 17 $ — $ 17 $ — $ 17 At December 31, 2023 Derivative Assets - not designated $ 2,394 $ 2,242 $ 152 $ 4 $ 148 Derivative Assets - designated $ 8 $ 1 $ 7 $ — $ 7 Derivative Liabilities - not designated $ 2,504 $ 2,242 $ 262 $ 15 $ 247 Derivative Liabilities - designated $ 1 $ 1 $ — $ — $ — 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.” Concentrations of Credit Risk The company’s financial instruments that are exposed to concentrations of credit risk consist primarily of its cash equivalents, marketable securities, derivative financial instruments and trade receivables. The company’s short-term investments are placed with a wide array of financial institutions with high credit ratings. Company investment policies limit the company’s exposure both to credit risk and to concentrations of credit risk. Similar policies on diversification and creditworthiness are applied to the company’s counterparties in derivative instruments. For a discussion of credit risk on trade receivables, see Note 28 Financial Instruments - Credit Losses

Assets Held for Sale

Assets Held for Sale	12 Months Ended
	Dec. 31, 2024
Assets Held For Sale [Abstract]
Assets Held for Sale	Assets Held for Sale At December 31, 2024, the company classifie d $481 of net properties, plant and equipment as “Assets held for sale” on the Consolidated Balance Sheet. These assets are associated with upstream and downstream operations that were sold in early 2025, or are anticipated to be sold in the next 12 months. The revenues and earnings contributions of these assets in 2024 were not material.

Equity

Equity	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Equity	Equity Retained earnings at December 31, 2024 and 2023, included $35,349 and $34,359, respectively, for the company’s share of undistributed earnings of equity affiliates.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share (EPS) is based upon “Net Income (Loss) Attributable to Chevron Corporation” (“earnings”) and includes the effects of deferrals of salary and other compensation awards that are invested in Chevron stock units by certain officers and employees of the company. Diluted EPS includes the effects of these items as well as the dilutive effects of outstanding stock options awarded under the company’s stock option programs (refer to Note 22 Stock Options and Other Share-Based Compensation Year ended December 31 2024 2023 2022 Basic EPS Calculation Earnings available to common stockholders - Basic * $ 17,661 $ 21,369 $ 35,465 Weighted-average number of common shares outstanding 1,810 1,873 1,931 Add: Deferred awards held as stock units — — — Total weighted-average number of common shares outstanding 1,810 1,873 1,931 Earnings per share of common stock - Basic $ 9.76 $ 11.41 $ 18.36 Diluted EPS Calculation Earnings available to common stockholders - Diluted * $ 17,661 $ 21,369 $ 35,465 Weighted-average number of common shares outstanding 1,810 1,873 1,931 Add: Deferred awards held as stock units — — — Add: Dilutive effect of employee stock-based awards 7 7 9 Total weighted-average number of common shares outstanding 1,817 1,880 1,940 Earnings per share of common stock - Diluted $ 9.72 $ 11.36 $ 18.28 * There was no effect of dividend equivalents paid on stock units or dilutive impact of employee stock-based awards on earnings.

Operating Segments and Geograph

Operating Segments and Geographic Data	12 Months Ended
	Dec. 31, 2024
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 LNG; transporting crude oil by major international oil export pipelines; processing, transporting, storage and marketing of natural gas; carbon capture and storage; 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 activities. The company’s segments are managed by “segment managers” who report to the “chief operating decision maker” (CODM), which is comprised of the company’s Executive Committee, as referenced in Item 10 Executive Officers . The segments represent components of the company that engage in activities from which revenues are earned and expenses are incurred. Each segment has discrete financial information available. The CODM regularly reviews the operating results of these segments to assess their performance and make decisions about resources to be allocated to the segments. The company's primary country of operation is the United States of America, its country of domicile, while other components of the company's operations are reported as “International” (outside the United States). Segment Sales and Other Operating Revenues 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, natural gas and NGLs, as well as the sale of third-party production of natural gas. Revenues for the downstream segment are derived from the refining and marketing of petroleum products such as gasoline, jet fuel, gas oils, lubricants, residual fuel oils and other products derived from crude oil. This segment also generates revenues from the manufacture and sale of fuel and lubricant additives, renewable fuels, 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. Segment Expenses Purchased crude oil and products, operating and selling, general and administrative (SG&A) expense, and depreciation, depletion and amortization are the company’s significant segment expenses. Operating and SG&A expenses include transportation, employee costs, service and fees, fuel and utilities, materials and supplies, SG&A expenses and other components of periodic benefit costs. Other costs and deductions primarily represent taxes other than on income, exploration expense and interest and debt expenses. 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 are not allocated to the operating segments. However, operating segments are billed for the direct use of corporate services. Non-billable costs remain at the corporate level in “All Other.” Segmented income statements for the years ended December 31, 2024, 2023 and 2022 are presented below: Upstream Downstream Segment Total All Other Total Year Ended December 31, 2024 U.S. Int'l. U.S. Int'l. Sales and other operating revenues before elimination $ 44,302 $ 43,466 $ 80,417 $ 77,430 $ 245,615 $ 617 $ 246,232 Intersegment revenue elimination (29,662) (11,258) (9,745) (1,668) (52,333) (485) (52,818) Sales and Other Operating Revenues 14,640 32,208 70,672 75,762 193,282 132 193,414 Income (loss) from equity affiliates (62) 3,642 1,010 10 4,600 (4) 4,596 Other income (loss) 1 346 3,460 358 96 4,260 522 4,782 Total Revenues and Other Income 14,924 39,310 72,040 75,868 202,142 650 202,792 Intersegment product transfers 2 25,305 4,190 (26,845) (2,833) (183) 183 — Less expenses: Purchased crude oil and products 13,326 9,445 33,514 62,921 119,206 — 119,206 Operating and SG&A expenses 7,708 6,412 9,425 6,034 29,579 2,914 32,493 Depreciation, depletion and amortization 7,562 7,935 1,091 360 16,948 334 17,282 Other costs and deductions 3 1,805 1,156 550 2,071 5,582 723 6,305 Total Costs and Other Deductions 30,401 24,948 44,580 71,386 171,315 3,971 175,286 Income Tax Expense (Benefit) 2,198 7,548 84 397 10,227 (470) 9,757 Less: Net income (loss) attributable to non-controlling interests 28 4 — 56 88 — 88 Net Income (Loss) Attributable to Chevron Corporation $ 7,602 $ 11,000 $ 531 $ 1,196 $ 20,329 $ (2,668) $ 17,661 Values have been adjusted for eliminations, unless otherwise specified. 1 Includes interest income of $296 in “All Other.” 2 Valuation of product transfers between operating segments. 3 Includes interest expense of $539 in “All Other.” Upstream Downstream Segment Total All Other Total Year ended December 31, 2023 U.S. Int'l. U.S. Int'l. Sales and other operating revenues before elimination $ 40,115 $ 43,805 $ 83,567 $ 78,058 $ 245,545 $ 597 $ 246,142 Intersegment revenue elimination (26,307) (11,871) (8,793) (1,794) (48,765) (464) (49,229) Sales and Other Operating Revenues 13,808 31,934 74,774 76,264 196,780 133 196,913 Income (loss) from equity affiliates (387) 4,272 736 519 5,140 (9) 5,131 Other income (loss) 1 (2,536) 776 444 39 (1,277) 182 (1,095) Total Revenues and Other Income 10,885 36,982 75,954 76,822 200,643 306 200,949 Intersegment product transfers 2 23,665 4,274 (23,887) (4,184) (132) 132 — Less expenses: Purchased crude oil and products 13,019 7,270 37,176 61,731 119,196 — 119,196 Operating and SG&A expenses 6,879 5,837 8,432 6,058 27,206 2,034 29,240 Depreciation, depletion and amortization 7,666 8,109 931 301 17,007 319 17,326 Other costs and deductions 3 1,676 1,010 515 1,782 4,983 620 5,603 Total Costs and Other Deductions 29,240 22,226 47,054 69,872 168,392 2,973 171,365 Income Tax Expense (Benefit) 1,141 5,733 1,109 519 8,502 (329) 8,173 Less: Net income (loss) attributable to non-controlling interests 21 7 — 14 42 — 42 Net Income (Loss) Attributable to Chevron Corporation $ 4,148 $ 13,290 $ 3,904 $ 2,233 $ 23,575 $ (2,206) $ 21,369 Values have been adjusted for eliminations, unless otherwise specified. 1 Includes interest income of $491 in “All Other.” 2 Valuation of product transfers between operating segments. 3 Includes interest expense of $432 in “All Other.” Upstream Downstream Segment Total All Other Total Year Ended December 31, 2022 U.S. Int'l. U.S. Int'l. Sales and other operating revenues before elimination $ 50,822 $ 56,156 $ 91,824 $ 87,741 $ 286,543 $ 518 $ 287,061 Intersegment revenue elimination (29,870) (13,815) (5,529) (1,728) (50,942) (402) (51,344) Sales and Other Operating Revenues 20,952 42,341 86,295 86,013 235,601 116 235,717 Income (loss) from equity affiliates (22) 6,648 1,003 962 8,591 (6) 8,585 Other income (loss) 1 103 1,272 527 (8) 1,894 56 1,950 Total Revenues and Other Income 21,033 50,261 87,825 86,967 246,086 166 246,252 Intersegment product transfers 2 29,801 7,078 (31,245) (5,706) (72) 72 — Less expenses: Purchased crude oil and products 21,008 12,717 40,483 71,208 145,416 — 145,416 Operating and SG&A expenses 6,799 6,810 7,829 5,094 26,532 2,789 29,321 Depreciation, depletion and amortization 5,012 9,830 913 311 16,066 253 16,319 Other costs and deductions 3 1,699 1,230 446 1,515 4,890 632 5,522 Total Costs and Other Deductions 34,518 30,587 49,671 78,128 192,904 3,674 196,578 Income Tax Expense (Benefit) 3,678 9,055 1,515 280 14,528 (462) 14,066 Less: Net income (loss) attributable to non-controlling interests 17 34 — 92 143 — 143 Net Income (Loss) Attributable to Chevron Corporation $ 12,621 $ 17,663 $ 5,394 $ 2,761 $ 38,439 $ (2,974) $ 35,465 Values have been adjusted for eliminations, unless otherwise specified. 1 Includes interest income of $261 in “All Other.” 2 Valuation of product transfers between operating segments. 3 Includes interest expense of $476 in “All Other.” Segment Assets Segment assets do not include intercompany investments or receivables. Assets at year-end 2024 and 2023 are as follows: At December 31 2024 2023 Upstream United States $ 60,914 $ 58,750 International 123,343 131,685 Goodwill 4,226 4,370 Total Upstream 188,483 194,805 Downstream United States 34,253 33,066 International 22,165 21,070 Goodwill 352 352 Total Downstream 56,770 54,488 Total Segment Assets 245,253 249,293 All Other United States 8,382 10,292 International 3,303 2,047 Total All Other 11,685 12,339 Total Assets – United States 103,549 102,108 Total Assets – International 148,811 154,802 Goodwill 4,578 4,722 Total Assets $ 256,938 $ 261,632 Other Segment Information Additional information for the segmentation of major equity affiliates is contained in Note 15 Investments and Advances . Information related to properties, plant and equipment by segment is contained in Note 18 Properties, Plant and Equipment . Information related to unusual items is contained in Note 27 Other Financial Information

Investments and Advances

Investments and Advances	12 Months Ended
	Dec. 31, 2024
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Investments and Advances	Investments and Advances Equity in earnings, together with investments in and advances to companies accounted for using the equity method and other investments accounted for at or below cost, is shown in the following table. For certain equity affiliates, Chevron pays its share of some income taxes directly. For such affiliates, the equity in earnings does not include these taxes, which are reported on the Consolidated Statement of Income as “Income tax expense.” Investments and Advances Equity in Earnings At December 31 Year ended December 31 2024 2023 2024 2023 2022 Upstream Tengizchevroil $ 27,368 $ 26,954 $ 3,033 $ 3,375 $ 4,386 Caspian Pipeline Consortium 719 797 180 158 128 Angola LNG Limited 1,665 1,762 405 513 1,857 Other 1,716 2,106 (38) (161) 255 Total Upstream 31,468 31,619 3,580 3,885 6,626 Downstream Chevron Phillips Chemical Company LLC 8,571 7,765 903 608 867 GS Caltex Corporation 4,144 4,309 58 437 874 Other 2,432 2,426 60 210 224 Total Downstream 15,147 14,500 1,021 1,255 1,965 All Other Other 3 (6) (5) (9) (6) Total equity method $ 46,618 $ 46,113 $ 4,596 $ 5,131 $ 8,585 Other non-equity method investments 820 699 Total investments and advances $ 47,438 $ 46,812 Total United States $ 11,960 $ 10,985 $ 944 $ 340 $ 975 Total International $ 35,478 $ 35,827 $ 3,652 $ 4,791 $ 7,610 Descriptions of major equity affiliates and non-equity investments, including significant differences between the company’s carrying value of its investments and its underlying equity in the net assets of the affiliates, are as follows: Tengizchevroil Chevron has a 50 percent equity ownership interest in TCO, which operates the Tengiz and Korolev crude oil fields in Kazakhstan. At December 31, 2024, the company’s carrying value of its investment in TCO was about $73 higher than the amount of underlying equity in TCO’s net assets. This difference results from Chevron acquiring a portion of its interest in TCO at a value greater than the underlying book value for that portion of TCO’s net assets. Included in the investment is a loan to TCO to fund the development of the Wellhead Pressure Management Project (WPMP) and Future Growth Project (FGP) with a principal balance of $4,500. Caspian Pipeline Consortium Chevron has a 15 percent interest in the Caspian Pipeline Consortium, which provides the critical export route for crude oil from both TCO and Karachaganak. Angola LNG Limited Chevron has a 36.4 percent interest in Angola LNG Limited, which processes and liquefies natural gas produced in Angola for delivery to international markets. Chevron Phillips Chemical Company LLC Chevron owns 50 percent of Chevron Phillips Chemical Company LLC. Included in the investment balance is a loan with a principal balance of $669 to fund a portion of the Golden Triangle Polymers Project in Orange, Texas, in which Chevron Phillips Chemical Company LLC owns 51 percent. GS Caltex Corporation Chevron owns 50 percent of GS Caltex Corporation, a joint venture with GS Energy in South Korea. The joint venture imports, produces and markets petroleum products, petrochemicals and lubricants. Other Information “Sales and other operating revenues” on the Consolidated Statement of Income i ncludes $13,850, $13,623 and $16,286 with affiliated companies for 2024, 2023 and 2022, respectively. “Purchased crude oil and products” includes $6,547, $7,404 and $10,171 with affiliated companies for 2024, 2023 and 2022, respectively. “Accounts and notes receivable” on the Consolidated Balance Sheet includes $1,258 and $1,480 due from affiliated companies at December 31, 2024 and 2023, respectively. “Accounts payable” includes $556 and $591 due to affiliated companies at December 31, 2024 and 2023, respectively. The following table provides summarized financial information on a 100 percent basis for all equity affiliates as well as Chevron’s total share, which includes Chevron’s net loans to affiliates of $4,731, $4,494 and $4,278 at December 31, 2024, 2023 and 2022, respectively. Affiliates Chevron Share Year ended December 31 2024 2023 2022 2024 2023 2022 Total revenues $ 46,081 $ 49,306 $ 100,184 $ 21,765 $ 23,217 $ 48,323 Income before income tax expense* 13,127 15,304 23,811 6,088 7,209 10,876 Net income attributable to affiliates 10,253 11,618 19,077 4,802 5,485 8,595 At December 31 Current assets $ 21,697 $ 22,772 $ 26,632 $ 9,323 $ 10,110 $ 11,671 Noncurrent assets 104,396 105,965 101,557 49,435 48,753 46,428 Current liabilities 12,906 14,085 16,319 5,084 6,698 7,708 Noncurrent liabilities 22,651 23,797 22,943 7,278 6,342 5,980 Total affiliates’ net equity $ 90,536 $ 90,855 $ 88,927 $ 46,396 $ 45,823 $ 44,411 * Chevron’s net income attributable to affiliates is recorded in the company’s before-tax consolidated earnings in accordance with U.S. Generally Accepted Accounting Principles. The total income tax expense recorded by the company’s equity affiliates in 2024 was $2,874, with Chevron’s share being $1,286.

Litigation

Litigation	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Litigation	Litigation Climate Change Governmental and other plaintiffs in various jurisdictions across the United States have brought 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 32 separate lawsuits filed by various U.S. cities and counties, four U.S. states, the District of Columbia, the Commonwealth of Puerto Rico, two Native American tribes, and a trade group in both federal and state courts. 3 The lawsuits have asserted various causes of action, including public nuisance, private nuisance, failure to warn, fraud, conspiracy to commit fraud, design defect, product defect, trespass, negligence, impairment of public trust, equitable relief for pollution, impairment and destruction of natural resources, unjust enrichment, violations of consumer and environmental protection statutes, violations of unfair competition statutes, violations of a federal antitrust statute, and violations of federal and state RICO statutes, based upon, among other things, the company’s production of oil and gas products and alleged misrepresentations or omissions relating to climate change risks associated with those products. Further such proceedings are likely to be brought by other parties. While defendants have sought to remove cases filed in state court to federal court, most of those cases have been remanded to state court and the U.S. Supreme Court has denied petitions for writ of certiorari on jurisdictional questions to date. The U.S. Supreme Court has also denied petitions for certiorari to review a decision from the Hawaii Supreme Court allowing claims brought by the City and County of Honolulu to proceed past the pleadings. The unprecedented legal theories set forth in these proceedings include claims for damages (both compensatory and punitive), injunctive and other forms of equitable relief, including without limitation abatement, contribution to abatement funds, disgorgement of profits and equitable relief for pollution, impairment and destruction of natural resources, civil penalties and liability for fees and costs of suits. Due to the unprecedented nature of the suits, the company is unable to estimate any range of possible liability, but given the uncertainty of litigation there can be no assurance that the cases will not have a material adverse effect on the company’s results of operations and financial condition. Management believes that these proceedings are legally and factually meritless and detract from constructive efforts to address the important policy issues presented by climate change and will vigorously defend against such proceedings. 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 37 of these cases. 4 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. Further such proceedings may be brought by other parties. The Supreme Court denied a petition for writ of certiorari on jurisdictional questions impacting certain of these cases, and those cases have been or will be remanded to Louisiana state court, one of which has been set for trial and is scheduled to begin in March 2025. Federal jurisdictional questions are still being decided for the remaining cases in the United States federal court system. Due to the unprecedented nature of the suits, the company is unable to estimate any range of possible liability, but given the uncertainty of litigation there can be no assurance that the cases will not have a material adverse effect 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.

Taxes

Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Taxes	Taxes Income Taxes Year ended December 31 2024 2023 2022 Income tax expense (benefit) U.S. federal Current $ 854 $ 895 $ 1,723 Deferred 748 666 2,240 State and local Current 275 211 482 Deferred 10 1 39 Total United States 1,887 1,773 4,484 International Current 7,388 6,745 9,738 Deferred 482 (345) (156) Total International 7,870 6,400 9,582 Total income tax expense (benefit) $ 9,757 $ 8,173 $ 14,066 The reconciliation between the U.S. statutory federal income tax rate and the company’s effective income tax rate is detailed in the following table: Year ended December 31 2024 2023 2022 Income (loss) before income taxes United States $ 8,056 $ 8,565 $ 21,005 International 19,450 21,019 28,669 Total income (loss) before income taxes 27,506 29,584 49,674 Theoretical tax (at U.S. statutory rate of 21%) 5,776 6,213 10,432 Equity affiliate accounting effect (845) (1,072) (1,678) Effect of income taxes from international operations 4,742 3,001 5,041 State and local taxes on income, net of U.S. federal income tax benefit 214 252 508 Prior year tax adjustments, claims and settlements 1 (30) (32) (90) Tax credits (28) (20) (6) Other U.S. 1, 2 (72) (169) (141) Total income tax expense (benefit) $ 9,757 $ 8,173 $ 14,066 Effective income tax rate 3 35.5 % 27.6 % 28.3 % 1 Includes one-time tax costs (benefits) associated with changes in uncertain tax positions. 2 Includes one-time tax costs (benefits) associated with changes in valuation allowances (2024 - $(12); 2023 - $(84); 2022 - $(36)). 3 The company’s effective tax rate is reflective of equity income reported on an after-tax basis as part of the “Total Income (Loss) Before Income Tax Expense,” in accordance with U.S. Generally Accepted Accounting Principles. Chevron’s share of its equity affiliates’ total income tax expense in 2024 was $1,286. The 2024 increase in income tax expense of $1,584 and the change in the company’s effective tax rate from 27.6 percent in 2023 to 35.5 percent in 2024 were primarily a result of the tax impacts from the asset sales in Canada. The company records its deferred taxes on a tax-jurisdiction basis. The reported deferred tax balances are composed of the following: At December 31 2024 2023 Deferred tax liabilities Properties, plant and equipment $ 20,648 $ 20,303 Investments and other 5,254 4,263 Total deferred tax liabilities 25,902 24,566 Deferred tax assets Foreign tax credits (15,261) (13,560) Asset retirement obligations/environmental reserves (4,220) (4,543) Employee benefits (2,050) (1,785) Deferred credits (292) (268) Tax loss carryforwards (3,034) (3,492) Other accrued liabilities (1,137) (1,416) Inventory (68) (126) Operating leases (1,352) (1,479) Miscellaneous (4,180) (3,652) Total deferred tax assets (31,594) (30,321) Deferred tax assets valuation allowance 21,313 20,416 Total deferred income taxes, net $ 15,621 $ 14,661 Deferred tax liabilities increased by $1,336 from year-end 2023, driven by deferred tax impacts resulting from the asset sales in Canada and foreign exchange impacts. Deferred tax assets increased by $1,273 from year-end 2023. This increase was primarily related to increases in foreign tax credits and foreign exchange impacts, partially offset by decreases in tax loss carryforwards and other accrued liabilities. The overall valuation allowance, which increased by $897 from year-end 2023, relates to deferred tax assets for U.S. foreign tax credit carryforwards, tax loss carryforwards and temporary differences. The valuation allowance reduces the deferred tax assets to amounts that are, in management’s assessment, more likely than not to be realized. At the end of 2024, the company had gross tax loss carryforwards of approximately $9,231 and tax credit carryforwards of approximately $288, primarily related to various international tax jurisdictions. Whereas some of these tax loss carryforwards do not have an expiration date, others expire at various times from 2025 through 2043. U.S. foreign tax credit carryforwards of $15,261 will expire between 2025 and 2034. At December 31, 2024 and 2023, deferred taxes were classified on the Consolidated Balance Sheet as follows: At December 31 2024 2023 Deferred charges and other assets $ (3,516) $ (4,169) Noncurrent deferred income taxes 19,137 18,830 Total deferred income taxes, net $ 15,621 $ 14,661 Income taxes, including U.S. state and foreign withholding taxes, are not accrued for unremitted earnings of international operations that have been or are intended to be reinvested indefinitely, or where no taxable temporary differences exist that are attributable to an investment in a foreign entity. The indefinite reinvestment assertion continues to apply for the purpose of determining deferred tax liabilities for U.S. state and foreign withholding tax purposes. It is not practicable to estimate the amount of state and foreign withholding taxes that might be payable on the possible remittance of earnings that are intended to be reinvested indefinitely. The company does not anticipate incurring significant additional taxes on remittances of earnings that are not indefinitely reinvested. Uncertain Income Tax Positions The company recognizes a tax benefit in the financial statements for an uncertain tax position only if management’s assessment is that the position is more likely than not (i.e., a likelihood greater than 50 percent) to be allowed by the tax jurisdiction based solely on the technical merits of the position. The term “tax position” in the accounting standards for income taxes refers to a position in a previously filed tax return or a position expected to be taken in a future tax return that is reflected in measuring current or deferred income tax assets and liabilities for interim or annual periods. The following table indicates the changes to the company’s unrecognized tax benefits for the years ended December 31, 2024, 2023 and 2022. The term “unrecognized tax benefits” in the accounting standards for income taxes refers to the differences between a tax position taken or expected to be taken in a tax return and the benefit measured and recognized in the financial statements. Interest and penalties are not included. 2024 2023 2022 Balance at January 1 $ 5,452 $ 5,323 $ 5,288 Foreign currency effects — (27) (2) Additions based on tax positions taken in current year 236 248 30 Additions for tax positions taken in prior years 101 265 234 Reductions based on tax positions taken in current year (54) (104) — Reductions for tax positions taken in prior years (883) (251) (117) Settlements with taxing authorities in current year — (2) (110) Balance at December 31 $ 4,852 $ 5,452 $ 5,323 Approximately 76 percent of the $4,852 of unrecognized tax benefits at December 31, 2024, would have an impact on the effective tax rate if subsequently recognized. Certain of these unrecognized tax benefits relate to tax carryforwards that may require a full valuation allowance at the time of any such recognition. The company and its subsidiaries are subject to income taxation and audits throughout the world. With certain exceptions, income tax examinations are completed through 2016 for the United States and 2007 for other major jurisdictions. The company engages in ongoing discussions with tax authorities regarding the resolution of tax matters in the various jurisdictions. Both the outcome of these tax matters and the timing of resolution and/or closure of the tax audits are highly uncertain. Of the amount of unrecognized tax benefits the company has identified as of December 31, 2024, it is reasonably possible that developments on tax matters in certain tax jurisdictions may result in decreases of approximately 68 percent 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. On the Consolidated Statement of Income, the company reports interest and penalties related to liabilities for uncertain tax positions as “Income Tax Expense (Benefit).” As of December 31, 2024, accrued expense of $268 for anticipated interest and penalties was included on the Consolidated Balance Sheet, compared with accrued expense of $229 as of year-end 2023. Income tax expense (benefit) associated with interest and penalties was $40, $124 and $152 in 2024, 2023 and 2022, respectively. Taxes Other Than on Income Year ended December 31 2024 2023 2022 United States Import duties and other levies $ 8 $ (9) $ 10 Property and other miscellaneous taxes 977 818 609 Payroll taxes 296 286 248 Taxes on production 842 801 989 Total United States 2,123 1,896 1,856 International Import duties and other levies 90 72 63 Property and other miscellaneous taxes 2,283 2,004 1,789 Payroll taxes 125 121 122 Taxes on production 95 127 202 Total International 2,593 2,324 2,176 Total taxes other than on income $ 4,716 $ 4,220 $ 4,032

Properties, Plant and Equipment

Properties, Plant and Equipment	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Properties, Plant and Equipment	Properties, Plant and Equipment 1 At December 31 Year ended December 31 Gross Investment at Cost Net Investment Additions at Cost 2 Depreciation Expense 3 2024 2023 2022 2024 2023 2022 2024 2023 2022 2024 2023 2022 Upstream United States $ 124,439 $ 117,955 $ 96,590 $ 52,428 $ 50,390 $ 37,031 $ 9,591 $ 20,408 $ 6,461 $ 7,562 $ 7,666 $ 5,012 International 176,401 183,996 188,556 76,642 84,561 88,549 4,426 4,130 2,599 7,935 8,109 9,830 Total Upstream 300,840 301,951 285,146 129,070 134,951 125,580 14,017 24,538 9,060 15,497 15,775 14,842 Downstream United States 32,336 31,192 29,802 13,667 13,521 12,827 1,217 1,623 2,742 1,091 931 913 International 8,331 8,401 8,281 2,946 3,122 3,226 245 237 246 360 301 311 Total Downstream 40,667 39,593 38,083 16,613 16,643 16,053 1,462 1,860 2,988 1,451 1,232 1,224 All Other United States 4,304 4,390 4,402 2,082 1,991 1,931 355 311 230 328 313 247 International 122 147 154 34 34 27 7 15 12 6 6 6 Total All Other 4,426 4,537 4,556 2,116 2,025 1,958 362 326 242 334 319 253 Total United States 161,079 153,537 130,794 68,177 65,902 51,789 11,163 22,342 9,433 8,981 8,910 6,172 Total International 184,854 192,544 196,991 79,622 87,717 91,802 4,678 4,382 2,857 8,301 8,416 10,147 Total $ 345,933 $ 346,081 $ 327,785 $ 147,799 $ 153,619 $ 143,591 $ 15,841 $ 26,724 $ 12,290 $ 17,282 $ 17,326 $ 16,319 1 Other than the United States and Australia, no other country accounted for 10 percent or more of the company’s net properties, plant and equipment (PP&E) in 2024. Australia had PP&E of $38,969, $41,409 and $44,012 in 2024, 2023 and 2022, respectively. Gross Investment at Cost and Additions at Cost for 2023 each include $10,487 associated with the PDC acquisition. 2 Net of dry hole expense related to prior years’ expenditures of $98, $110 and $177 in 2024, 2023 and 2022, respectively. 3 Depreciation expense includes accretion expense of $586, $593 and $560 in 2024, 2023 and 2022, respectively, and impairments and write-offs of $500 , $2,180 and $950 in 2024, 2023 and 2022, respectively.

Short-Term Debt

Short-Term Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Short-Term Debt	Short-Term Debt At December 31 2024 2023 Commercial paper $ 5,386 $ — Notes payable to banks and others with originating terms of one year or less 131 469 Current maturities of long-term debt * 4,012 1,667 Current maturities of long-term finance leases 58 60 Redeemable long-term obligations 3,069 2,876 Subtotal 12,656 5,072 Reclassified to long-term debt (8,250) (4,543) Total short-term debt $ 4,406 $ 529 * Inclusive of unamortized premiums of $0 at December 31, 2024 and $17 at December 31, 2023. Redeemable long-term obligations consist primarily of tax-exempt variable-rate put bonds that are included as current liabilities because they become redeemable at the option of the bondholders during the year following the balance sheet date. The company may periodically enter into interest rate swaps on a portion of its short-term debt. At December 31, 2024, the company had no interest rate swaps on short-term debt. At December 31, 2024, the company had $8,250 in 364-day committed credit facilities with various major banks that enable the refinancing of short-term obligations. The credit facilities allow the company the option to convert outstanding short-term obligations into a term loan for a period of up to one year from the facilities termination date. This supports commercial paper borrowing and can also be used for general corporate purposes. The company’s practice has been to replace expiring commitments with new commitments on substantially the same terms, maintaining levels management believes appropriate. Any borrowings under these facilities would be unsecured indebtedness at interest rates based on the Secured Overnight Financing Rate (SOFR), or an average of base lending rates published by specified banks and on terms reflecting the company’s strong credit rating. No borrowings were outstanding under these facilities at December 31, 2024.

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Total long-term debt including finance lease liabilities at December 31, 2024, was $20,135. The company’s long-term debt outstanding at year-end 2024 and 2023 was as follows: At December 31 2024 2023 Weighted Average Interest Rate (%) 1 Range of Interest Rates (%) 2 Principal Principal Notes due 2025 1.724 0.687 - 3.326 4,000 4,000 Notes due 2026 2.954 2,250 2,250 Notes due 2027 2.379 1.018 - 8.000 2,000 2,000 Notes due 2028 3.850 600 600 Notes due 2029 3.250 500 500 Notes due 2030 2.236 1,500 1,500 Debentures due 2031 8.625 102 102 Debentures due 2032 8.416 8.000 - 8.625 183 183 Notes due 2040 2.978 293 293 Notes due 2041 6.000 397 397 Notes due 2043 5.250 330 330 Notes due 2044 5.050 222 222 Notes due 2047 4.950 187 187 Notes due 2049 4.200 237 237 Notes due 2050 2.763 2.343 - 3.078 1,750 1,750 Debentures due 2097 7.250 60 60 Bank loans due 2025 to 2027 3.321 3.306 - 3.367 205 — Medium-term notes, maturing from 2033 to 2038 6.101 4.324 - 7.840 20 20 Notes due 2024 — 1,650 Total including debt due within one year 14,836 16,281 Debt due within one year (4,012) (1,650) Fair market value adjustment for debt acquired in the Noble acquisition 529 578 Reclassified from short-term debt 8,250 4,543 Unamortized discounts and debt issuance costs (14) (19) Finance lease liabilities 3 546 574 Total long-term debt $ 20,135 $ 20,307 1 Weighted-average interest rate at December 31, 2024. 2 Range of interest rates at December 31, 2024. 3 For details on finance lease liabilities, see Note 5 Lease Commitments . Chevron has an automatic shelf registration statement that expires in November 2027. This registration statement is for an unspecified amount of nonconvertible debt securities issued or guaranteed by Chevron Corporation or CUSA. Long-term debt excluding finance lease liabilities with a principal balance of $14,836 matures as follows: 2025 – $4,012; 2026 – $2,290; 2027 – $2,153; 2028 – $600; 2029 – $500; and after 2029 – $5,281. See Note 9 Fair Value Measurements

Accounting for Suspended Explor

Accounting for Suspended Exploratory Wells	12 Months Ended
	Dec. 31, 2024
Accounting for Suspended Exploratory Wells [Abstract]
Accounting for Suspended Exploratory Wells	Accounting for Suspended Exploratory Wells The company continues to capitalize exploratory well costs after the completion of drilling when the well has found a sufficient quantity of reserves to justify completion as a producing well, and the business unit is making sufficient progress assessing the reserves and the economic and operating viability of the project. If either condition is not met or if the company obtains information that raises substantial doubt about the economic or operational viability of the project, the exploratory well would be assumed to be impaired, and its costs, net of any salvage value, would be charged to expense. The following table indicates the changes to the company’s suspended exploratory well costs for the three years ended December 31, 2024: 2024 2023 2022 Beginning balance at January 1 $ 1,648 $ 1,627 $ 2,109 Additions to capitalized exploratory well costs pending the determination of proved reserves 14 88 72 Reclassifications to wells, facilities and equipment based on the determination of proved reserves — — (481) Capitalized exploratory well costs charged to expense — (67) (73) Ending balance at December 31 $ 1,662 $ 1,648 $ 1,627 The following table provides an aging of capitalized well costs and the number of projects for which exploratory well costs have been capitalized for a period greater than one year since the completion of drilling: At December 31 2024 2023 2022 Exploratory well costs capitalized for a period of one year or less $ 17 $ 78 $ 73 Exploratory well costs capitalized for a period greater than one year 1,645 1,570 1,554 Balance at December 31 $ 1,662 $ 1,648 $ 1,627 Number of projects with exploratory well costs that have been capitalized for a period greater than one year * 14 13 12 * Certain projects have multiple wells or fields or both. Of the $1,645 of exploratory well costs capitalized for more than one year at December 31, 2024, $847 is related to seven projects that had drilling activities underway or firmly planned for the near future. The $798 balance is related to seven projects in areas requiring a major capital expenditure before production could begin and for which additional drilling efforts were not underway or firmly planned for the near future. Additional drilling was not deemed necessary because the presence of hydrocarbons had already been established, and other activities were in process to enable a future decision on project development. The projects for the $798 referenced above had the following activities associated with assessing the reserves and the projects’ economic viability: (a) $383 (five projects) – undergoing front-end engineering and design with final investment decision expected within four years; (b) $415 (two projects) – development alternatives under review. While progress was being made on all 14 projects, the decision on the recognition of proved reserves under SEC rules in some cases may not occur for several years because of the complexity, scale and negotiations associated with the projects. Approximately half of these decisions are expected to occur in the next five years. The $1,645 of suspended well costs capitalized for a period greater than one year as of December 31, 2024, represents 75 exploratory wells in 14 projects. The tables below contain the aging of these costs on a well and project basis: Aging based on drilling completion date of individual wells: Amount Number of wells 2000-2009 $ 263 14 2010-2014 1,122 49 2015-2023 260 12 Total $ 1,645 75 Aging based on drilling completion date of last suspended well in project: Amount Number of projects 2008-2012 $ 292 2 2013-2016 1,082 6 2017-2024 271 6 Total $ 1,645 14

Stock Options and Other Share-B

Stock Options and Other Share-Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock Options and Other Share-Based Compensation	Stock Options and Other Share-Based Compensation Compensation expense for stock options for 2024, 2023 and 2022 was $90 ($68 after tax), $85 ($65 after tax) and $60 ($46 after tax), respectively. In addition, compensation expense for stock appreciation rights, restricted stock, performance shares and restricted stock units for 2024, 2023 and 2022 was $510 ($388 after tax), $(100) ($(76) after tax) and $1,013 ($770 after tax), respectively. No significant stock-based compensation cost was capitalized at December 31, 2024, or December 31, 2023. Cash received in payment for option exercises under all share-based payment arrangements for 2024, 2023 and 2022 was $356, $263 and $5,835, respectively. Actual tax benefits realized for the tax deductions from option exercises were $24, $20 and $216 for 2024, 2023 and 2022, respectively. Cash paid to settle performance shares, restricted stock units and stock appreciation rights was $395, $566 and $556 for 2024, 2023 and 2022, respectively. On May 25, 2022, stockholders approved the Chevron 2022 Long-Term Incentive Plan (2022 LTIP). Awards under the 2022 LTIP may take the form of, but are not limited to, stock options, restricted stock, restricted stock units, stock appreciation rights, performance shares and non-stock grants. From May 2022 through May 2032, no more than 104 million shares may be issued under the 2022 LTIP. For awards issued on or after May 25, 2022, no more than 48 million of those shares may be issued in the form of full value awards such as share-settled restricted stock, share-settled restricted stock units, share-settled performance shares and other share-settled awards that do not require full payment in cash or property for shares underlying such awards by the award recipient. Contractual terms of equity awards vary between three years for the performance shares and special restricted stock units with cliff vesting at the end of the contractual period, five years for standard restricted stock units with cliff vesting at the end of the contractual period and 10 years for the stock options and stock appreciation rights with graded vesting provisions by which one-third of each award vests around each of the first, second and third anniversaries of the date of grant. Commencing for grants issued in January 2023 and after, standard restricted stock units vest ratably on an annual basis over a three-year period. Forfeitures of performance shares, restricted stock units, and stock appreciation rights are recognized as they occur. Forfeitures of stock options are estimated using historical forfeiture data dating back to 1990. Fair Value and Assumptions The fair market values of stock options and stock appreciation rights granted in 2024, 2023 and 2022 were measured on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: Year ended December 31 2024 2023 2022 Expected term in years 1 6.5 6.4 6.9 Volatility 2 33.0 % 32.5 % 31.3 % Risk-free interest rate based on zero coupon U.S. treasury note 3.98 % 3.43 % 1.79 % Dividend yield 4.1 % 3.5 % 5.0 % Weighted-average fair value per option granted $ 38.00 $ 45.82 $ 23.56 1 Expected term is based on historical exercise and post-vesting cancellation data. 2 Volatility rate is based on historical stock prices over an appropriate period, generally equal to the expected term. A summary of option activity during 2024 is presented below: Shares (Thousands) Weighted-Average Averaged Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at January 1, 2024 24,375 $ 118.72 Granted 2,730 $ 152.35 Exercised (3,504) $ 101.60 Forfeited (433) $ 260.55 Outstanding at December 31, 2024 23,168 $ 122.62 5.06 $ 687 Exercisable at December 31, 2024 18,372 $ 114.15 4.15 $ 675 The total intrinsic value (i.e., the difference between the exercise price and the market price) of options exercised during 2024, 2023 and 2022 was $190, $167 and $2,369, respectively. During this period, the company continued its practice of issuing treasury shares upon exercise of these awards. As of December 31, 2024, there was $320 of total unrecognized before-tax compensation cost related to nonvested share-based compensation arrangements granted under the plan. That cost is expected to be recognized over a weighted-average period of 1.9 years. At January 1, 2024, the number of LTIP performance shares outstanding was equivalent to 4,419,310 shares. During 2024, 1,525,452 performance shares were granted, 1,966,923 shares vested with cash proceeds distributed to recipients and 118,400 shares were forfeited. At December 31, 2024, there were 3,859,439 performance shares outstanding, of which 2,815,575 are payable in cash and 1,043,864 are payable in shares. The fair value of the liability recorded for these instruments payable in cash was $307 and was measured largely using the Monte Carlo simulation method. At January 1, 2024, the number of restricted stock units outstanding was equivalent to 5,060,242 shares. During 2024, 1,813,119 restricted stock units were granted, 1,340,664 units vested with cash proceeds distributed to recipients and 132,899 units were forfeited. At December 31, 2024, there were 5,399,798 restricted stock units outstanding, of which 3,346,557 are payable in cash and 2,053,241 are payable in shares. The fair value of the liability recorded for the vested portion of these instruments payable in cash was $387, valued at the stock price as of December 31, 2024. In addition, outstanding stock appreciation rights that were granted under the LTIP totaled 535,122 equivalent shares as of December 31, 2024. The fair value of the liability recorded for the vested portion of these instruments was $23.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The company 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 (ERISA) 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 post-employment 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 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 4 percent each year. Certain life insurance benefits are paid by the company. The company recognizes the overfunded or underfunded status of each of its defined benefit pension and OPEB plans as an asset or liability on the Consolidated Balance Sheet. The funded status of the company’s pension and OPEB plans for 2024 and 2023 follows: Pension Benefits 2024 2023 Other Benefits U.S. Int’l. U.S. Int’l. 2024 2023 Change in Benefit Obligation Benefit obligation at January 1 $ 10,392 $ 3,605 $ 9,713 $ 3,354 $ 2,017 $ 1,938 Service cost 357 54 342 58 34 33 Interest cost 465 191 448 193 98 97 Plan participants’ contributions — 2 — 3 54 63 Plan amendments — 18 — 28 30 — Actuarial (gain) loss (382) (274) 603 17 (144) 103 Foreign currency exchange rate changes — (88) — 180 (6) 5 Benefits paid (692) (217) (714) (218) (202) (222) Actual expenses/taxes — (2) — — — — Divestitures/Acquisitions — — — (14) — — Curtailment — — — 2 (1) — Special termination costs — — — 2 — — Benefit obligation at December 31 10,140 3,289 10,392 3,605 1,880 2,017 Change in Plan Assets Fair value of plan assets at January 1 9,137 3,398 7,942 3,286 — — Actual return on plan assets 338 (133) 889 46 — — Foreign currency exchange rate changes — (77) — 181 — — Employer contributions 754 90 1,020 100 148 159 Plan participants’ contributions — 2 — 3 54 63 Benefits paid (692) (217) (714) (218) (202) (222) Actual expenses — (2) — — — — Fair value of plan assets at December 31 9,537 3,061 9,137 3,398 — — Funded status at December 31 $ (603) $ (228) $ (1,255) $ (207) $ (1,880) $ (2,017) Amounts recognized on the Consolidated Balance Sheet for the company’s pension and OPEB plans at December 31, 2024 and 2023, include: Pension Benefits 2024 2023 Other Benefits U.S. Int’l. U.S. Int’l. 2024 2023 Deferred charges and other assets $ 607 $ 655 $ 31 $ 703 $ — $ — Accrued liabilities (146) (71) (145) (73) (149) (154) Noncurrent employee benefit plans (1,064) (812) (1,141) (837) (1,731) (1,863) Net amount recognized at December 31 $ (603) $ (228) $ (1,255) $ (207) $ (1,880) $ (2,017) For the year ended December 31, 2024, the decrease in benefit obligations was primarily due to actuarial gains caused by higher discount rates used to value the obligations. For the year ended December 31, 2023, the increase in benefit obligations was primarily due to actuarial losses caused by lower discount rates used to value the obligations. Amounts recognized on a before-tax basis in “Accumulated other comprehensive loss” for the company’s pension and OPEB plans were $3,376 and $3,792 at the end of 2024 and 2023, respectively. These amounts consisted of: Pension Benefits 2024 2023 Other Benefits U.S. Int’l. U.S. Int’l. 2024 2023 Net actuarial (gain) loss $ 2,796 $ 849 $ 3,161 $ 823 $ (401) $ (266) Prior service (credits) costs 33 133 37 126 (34) (89) Total recognized at December 31 $ 2,829 $ 982 $ 3,198 $ 949 $ (435) $ (355) The accumulated benefit obligations for all U.S. and international pension plans were $9,053 and $3,066, respectively, at December 31, 2024, and $9,284 and $3,378, respectively, at December 31, 2023. Information for U.S. and international pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2024 and 2023, was: Pension Benefits 2024 2023 U.S. Int’l. U.S. Int’l. Projected benefit obligations $ 1,214 $ 884 $ 1,203 $ 913 Accumulated benefit obligations 1,145 744 1,108 773 Fair value of plan assets 7 1 — 4 The components of net periodic benefit cost and amounts recognized in the Consolidated Statement of Comprehensive Income for 2024, 2023 and 2022 are shown in the table below: Pension Benefits 2024 2023 2022 Other Benefits U.S. Int’l. U.S. Int’l. U.S. Int’l. 2024 2023 2022 Net Periodic Benefit Cost Service cost $ 357 $ 54 $ 342 $ 58 $ 432 $ 83 $ 34 $ 33 $ 43 Interest cost 465 191 448 193 318 137 98 97 60 Expected return on plan assets (597) (196) (557) (204) (624) (176) — — — Amortization of prior service costs (credits) 4 11 4 8 2 6 (25) (25) (27) Recognized actuarial (gains) losses 243 18 199 8 218 15 (15) (19) 13 Settlement losses (gains) — 1 56 — 363 (6) — — — Curtailment losses (gains) — — — 2 — (5) (1) — — Special termination benefits — — — 2 — — — — — Acquisition/Divestiture losses (gains) — — — (2) — — — — — Total net periodic benefit cost 472 79 492 65 709 54 91 86 89 Changes Recognized in Comprehensive Income Net actuarial (gain) loss during period (122) 45 270 172 (279) (257) (151) 108 (514) Amortization of actuarial (gain) loss (243) (19) (255) (8) (581) (5) 15 19 (13) Prior service (credits) costs during period — 18 — 28 40 38 30 1 18 Amortization of prior service (costs) credits (4) (11) (4) (8) (2) (6) 25 25 27 Total changes recognized in other (369) 33 11 184 (822) (230) (81) 153 (482) Recognized in Net Periodic Benefit Cost and Other Comprehensive Income $ 103 $ 112 $ 503 $ 249 $ (113) $ (176) $ 10 $ 239 $ (393) Assumptions The following weighted-average assumptions were used to determine benefit obligations and net periodic benefit costs for years ended December 31: Pension Benefits 2024 2023 2022 Other Benefits U.S. Int’l. U.S. Int’l. U.S. Int’l. 2024 2023 2022 Assumptions used to determine benefit obligations: Discount rate 5.7 % 6.0 % 5.0 % 5.5 % 5.2 % 5.8 % 5.7 % 5.1 % 5.3 % Rate of compensation increase 4.5 % 3.9 % 4.5 % 3.9 % 4.5 % 4.2 % N/A N/A N/A Assumptions used to determine net periodic benefit cost: Discount rate for service cost 5.0 % 5.5 % 5.2 % 5.8 % 3.6 % 2.8 % 5.2 % 5.4 % 3.1 % Discount rate for interest cost 4.8 % 5.5 % 5.0 % 5.8 % 2.8 % 2.8 % 5.1 % 5.2 % 2.4 % Expected return on plan assets 7.0 % 5.9 % 7.0 % 6.1 % 6.6 % 3.9 % N/A N/A N/A Rate of compensation increase 4.5 % 3.9 % 4.5 % 4.2 % 4.5 % 4.1 % N/A N/A N/A Expected Return on Plan Assets The company’s estimated long-term rates of return on pension assets are driven primarily by actual historical asset-class returns, an assessment of expected future performance, advice from external actuarial firms and the incorporation of specific asset-class risk factors. Asset allocations are periodically updated using pension plan asset/liability studies, and the company’s estimated long-term rates of return are consistent with these studies. For 2024, the company used an expected long-term rate of return of 7.0 percent for U.S. pension plan assets, which account for 73 percent of the company’s pension plan assets at the beginning of the year. The market-related value of assets of the main U.S. pension plan used in the determination of pension expense was based on the market values in the three months preceding the year-end measurement date. Management considers the three-month time period long enough to minimize the effects of distortions from day-to-day market volatility and still be contemporaneous to the end of the year. For other plans, market value of assets as of year-end is used in calculating the pension expense. Discount Rate The discount rate assumptions used to determine the U.S. and international pension and OPEB plan obligations and expense reflect the rate at which benefits could be effectively settled, and are equal to the equivalent single rate resulting from yield curve analysis. This analysis considered the projected benefit payments specific to the company’s plans and the yields on high-quality bonds. The projected cash flows were discounted to the valuation date using the yield curve for the main U.S. pension and OPEB plans. The effective discount rates derived from this analysis were 5.7 percent, 5.0 percent, and 5.2 percent for 2024, 2023, and 2022, respectively, for the main U.S. pension plan and 5.6 percent, 5.0 percent, and 5.2 percent for 2024, 2023, and 2022, respectively, for the main U.S. OPEB plans. Other Benefit Assumptions For the measurement of accumulated post-employment benefit obligation at December 31, 2024, for the main U.S. OPEB plan, the assumed health care cost-trend rates start with 8.4 percent in 2025 and gradually decline to 4.5 percent for 2034 and beyond. For this measurement at December 31, 2023, the assumed health care cost-trend rates started with 8.4 percent in 2024 and gradually declined to 4.5 percent for 2033 and beyond. Plan Assets and Investment Strategy The fair value measurements of the company’s pension plans for 2024 and 2023 are as follows: U.S. Int’l. Total Level 1 Level 2 Level 3 NAV Total Level 1 Level 2 Level 3 NAV At December 31, 2023 Equities U.S. 1 $ 1,691 $ 1,689 $ 1 $ 1 $ — $ 188 $ 188 $ — $ — $ — International 1,128 1,128 — — — 124 124 — — — Collective Trusts/Mutual Funds 2 1,269 4 — — 1,265 95 6 — — 89 Fixed Income Government 82 — 82 — — 172 101 71 — — Corporate 964 — 964 — — 431 4 427 — — Bank Loans 5 — 5 — — — — — — — Mortgage/Asset Backed 1 — 1 — — 5 — 5 — — Collective Trusts/Mutual Funds 2 2,293 — — — 2,293 1,819 — — — 1,819 Mixed Funds 3 — — — — — 85 8 77 — — Real Estate 4 1,087 — — — 1,087 147 — 24 — 123 Alternative Investments — — — — — 9 — 9 — — Cash and Cash Equivalents 548 12 — — 536 81 74 1 — 6 Other 5 69 (2) 14 56 1 242 — 11 81 150 Total at December 31, 2023 $ 9,137 $ 2,831 $ 1,067 $ 57 $ 5,182 $ 3,398 $ 505 $ 625 $ 81 $ 2,187 At December 31, 2024 Equities U.S. 1 $ 1,866 $ 1,866 $ — $ — $ — $ 180 $ 180 $ — $ — $ — International 1,208 1,197 — 11 — 107 97 — 10 — Collective Trusts/Mutual Funds 2 1,191 4 — — 1,187 98 6 13 — 79 Fixed Income Government 132 — 132 — — 167 99 68 — — Corporate 1,042 — 1,042 — — 403 2 401 — — Bank Loans 10 — 10 — — — — — — — Mortgage/Asset Backed 1 — 1 — — 4 — 4 — — Collective Trusts/Mutual Funds 2 2,342 — — — 2,342 1,594 2 10 — 1,582 Mixed Funds 3 — — — — — 76 — 76 — — Real Estate 4 1,383 — — — 1,383 105 — 16 — 89 Alternative Investments — — — — — 9 — 9 — — Cash and Cash Equivalents 289 13 — — 276 108 90 — — 18 Other 5 73 (3) 13 63 — 209 — 12 68 129 Total at December 31, 2024 $ 9,537 $ 3,077 $ 1,198 $ 74 $ 5,188 $ 3,060 $ 476 $ 609 $ 78 $ 1,897 1 There were no investments in the company’s common stock at December 31, 2024 or December 31, 2023. 2 Collective Trusts/Mutual Funds for U.S. plans are entirely index funds; for International plans, they are mostly unit trust and index funds. 3 Mixed funds are composed of funds that invest in both equity and fixed-income instruments in order to diversify and lower risk. 4 The year-end valuations of the U.S. real estate assets are based on third-party appraisals that occur at least once a year for each property in the portfolio. 5 The “Other” asset class includes net payables for securities purchased but not yet settled (Level 1); dividends and interest- and tax-related receivables (Level 2); insurance contracts (Level 3); and investments in private-equity limited partnerships (NAV). The effects of fair value measurements using significant unobservable inputs on changes in Level 3 plan assets are outlined below: Equity U.S. Int’l. Real Estate Other Total Total at December 31, 2022 $ — $ — $ 38 $ 139 $ 177 Actual Return on Plan Assets: Assets held at the reporting date 1 — 5 — 6 Assets sold during the period — — — (2) (2) Purchases, Sales and Settlements — — — — — Transfers in and/or out of Level 3 — — (43) — (43) Total at December 31, 2023 $ 1 $ — $ — $ 137 $ 138 Actual Return on Plan Assets: Assets held at the reporting date (1) 11 — — 10 Assets sold during the period — 2 — 9 11 Purchases, Sales and Settlements — 2 — (9) (7) Transfers in and/or out of Level 3 — 6 — (6) — Total at December 31, 2024 $ — $ 21 $ — $ 131 $ 152 The primary investment objectives of the pension plans are to achieve the highest rate of total return within prudent levels of risk and liquidity, to diversify and mitigate potential downside risk associated with the investments, and to provide adequate liquidity for benefit payments and portfolio management. The company’s U.S. and U.K. pension plans comprise 95 percent of the total pension assets. Both the U.S. and U.K. plans have an Investment Committee that regularly meets during the year to review the asset holdings and their returns. To assess the plans’ investment performance, long-term asset allocation policy benchmarks have been established. For the primary U.S. pension plan, the company’s Investment Committee has established the following approved asset allocation ranges: Equities 30–60 percent, Fixed Income 30–50 percent, Real Estate 5–25 percent, Alternative Investments 0–5 percent and Cash 0–15 percent. For the U.K. pension plan, the U.K. Board of Trustees has established the following asset allocation guidelines: Equities 5–15 percent, Fixed Income 63–93 percent, Real Estate 5–15 percent, and Cash 0–7 percent. The other significant international pension plans also have established maximum and minimum asset allocation ranges that vary by plan. Actual asset allocation within approved ranges is based on a variety of factors, including market conditions and liquidity constraints. To mitigate concentration and other risks, assets are invested across multiple asset classes with active investment managers and passive index funds. Cash Contributions and Benefit Payments In 2024, the company contributed $754 and $90 to its U.S. and international pension plans, respectively. In 2025, the company expects contributions to be approximately $750 to its U.S. plans and $100 to its international pension plans. Actual contribution amounts are dependent upon investment returns, changes in pension obligations, regulatory environments, tax law changes and other economic factors. Additional funding may ultimately be required if investment returns are insufficient to offset increases in plan obligations. The company anticipates paying OPEB benefits of approximately $150 in 2025; $148 was paid in 2024. The following benefit payments, which include estimated future service, are expected to be paid by the company in the next 10 years: Pension Benefits Other U.S. Int’l. Benefits 2025 $ 899 $ 205 $ 149 2026 901 213 147 2027 894 221 145 2028 879 226 144 2029 871 231 143 2030-2034 4,251 1,279 709 Employee Savings Investment Plan Eligible employees of Chevron and certain of its subsidiaries participate in the Chevron Employee Savings Investment Plan (ESIP). Compensation expense for the ESIP totaled $330, $320 and $283 in 2024, 2023 and 2022, respectively. Benefit Plan Trusts Prior to its acquisition by Chevron, Texaco established a benefit plan trust for funding obligations under some of its benefit plans. At year-end 2024, the trust contained 14.2 million shares of Chevron treasury stock. The trust will sell the shares or use the dividends from the shares to pay benefits only to the extent that the company does not pay such benefits. The company intends to continue to pay its obligations under the benefit plans. The trustee will vote the shares held in the trust as instructed by the trust’s beneficiaries. The shares held in the trust are not considered outstanding for earnings-per-share purposes until distributed or sold by the trust in payment of benefit obligations. Employee Incentive Plans The Chevron Incentive Plan is an annual cash bonus plan for eligible employees that links awards to corporate and individual performance in the prior year. Charges to expense for cash bonuses were $965, $809 and $1,169 in 2024, 2023 and 2022, respectively. Chevron also has the LTIP for officers and other regular salaried employees of the company and its subsidiaries who hold positions of significant responsibility. Awards under the LTIP consist of stock options and other share-based compensation that are described in Note 22 Stock Options and Other Share-Based Compensation

Other Contingencies and Commitm

Other Contingencies and Commitments	12 Months Ended
	Dec. 31, 2024
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 17 Taxes for a discussion of the periods for which tax returns have been audited for the company’s major tax jurisdictions and a discussion for all tax jurisdictions of the differences between the amount of tax benefits recognized in the financial statements and the amount taken or expected to be taken in a tax return. 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 provisions have been made for all years under examination or subject to future examination. Guarantees Indemnifications The company often includes standard indemnification provisions in its arrangements with its partners, suppliers and vendors in the ordinary course of business, the terms of which range in duration and sometimes are not limited. The company may be obligated to indemnify such parties for losses or claims suffered or incurred in connection with its service or other claims made against such parties. 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. The aggregate amounts of required payments under throughput and take-or-pay agreements are: 2025 – $1,039; 2026 – $1,129; 2027 – $1,304; 2028 – $1,326; 2029 – $1,236; after 2029 – $6,882. The aggregate amount of required payments for other unconditional purchase obligations are: 2025 – $436; 2026 – $653; 2027 – $477; 2028 – $380; 2029 – $186; after 2029 – $907. A portion of these commitments may ultimately be shared with project partners. Total payments under the agreements were $1,354 in 2024, $1,420 in 2023 and $1,866 in 2022. 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. Chevron’s environmental reserve Of the remaining year-end 2024 environmental reserves balance of $725, $440 is related to the company’s U.S. downstream operations, $49 to its international downstream operations, and $236 to its upstream operations. Liabilities at all sites were primarily associated with the company’s plans and activities to remediate soil or groundwater contamination or both. The company manages environmental liabilities under specific sets of regulatory requirements, which in the United States include the Resource Conservation and Recovery Act and various state and local regulations. No single remediation site at year-end 2024 had a recorded liability that was material to the company’s results of operations, consolidated financial position or liquidity. Refer to Note 25 Asset Retirement Obligations Decommissioning Obligations for Previously Divested Assets Some assets are divested along with their related liabilities, such as decommissioning obligations. In certain instances, such transferred obligations have returned and may continue to return to the company. For example, in fourth quarter 2023, the company recognized charges for decommissioning obligations from certain previously divested assets in the Gulf of America. To the extent the current owners of the company’s previously divested assets default on their decommissioning obligations, regulators may require that Chevron assume such obligations. The company could have additional significant obligations revert, primarily in the United States. The company is not currently aware of any such obligations that are reasonably possible to be material. The liability balance at the end of 2023 was $2,708, $235 was spent in 2024, and the balance at the end of 2024 was $2,478. Other Contingencies The company and its affiliates 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.

Asset Retirement Obligations

Asset Retirement Obligations	12 Months Ended
	Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	Asset Retirement Obligations The company records the fair value of a liability for an asset retirement obligation (ARO) both as an asset and a liability when there is a legal obligation associated with the retirement of a tangible long-lived asset and the liability can be reasonably estimated. The legal obligation to perform the asset retirement activity is unconditional, even though uncertainty may exist about the timing and/or method of settlement that may be beyond the company’s control. This uncertainty about the timing and/or method of settlement is factored into the measurement of the liability when sufficient information exists to reasonably estimate fair value. The ARO liability is initially recognized at its fair value with an increase to the related asset. Subsequent accretion of the liability and depreciation of the asset is recorded over time. The company evaluates its ARO estimates regularly or when there is significant new information about costs, timing, and duration of asset retirement activity. AROs are primarily recorded for the company’s crude oil and natural gas producing assets. No significant AROs associated with any legal obligations to retire downstream long-lived assets have been recognized, as indeterminate settlement dates for the asset retirements prevent estimation of the fair value of the associated ARO. The company performs periodic reviews of its downstream long-lived assets for any changes in facts and circumstances that might require recognition of a retirement obligation. The following table indicates the changes to the company’s before-tax asset retirement obligations in 2024, 2023 and 2022: 2024 2023 2022 Balance at January 1 $ 13,833 $ 12,701 $ 12,808 Liabilities assumed in the PDC acquisition — 220 — Liabilities incurred 83 183 9 Liabilities settled (2,083) (1,471) (1,102) Reduction due to asset sales (171) (94) (179) Accretion expense 588 593 560 Revisions in estimated cash flows 417 1,701 605 Balance at December 31 $ 12,667 $ 13,833 $ 12,701 In the table above, the amount associated with “Revisions in estimated cash flows” primarily reflects increased cost estimates and scope changes to decommission wells, equipment and facilities. The long-term portion of the $12,667 balance at the end of 2024 was $11,429.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue from contracts with customers is presented in “Sales and other operating revenues” along with some activity that is accounted for outside the scope of Accounting Standard Codification (ASC) 606, which is not material to this line, on the Consolidated Statement of Income. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another (including buy/sell arrangements) are combined and recorded on a net basis and reported in “Purchased crude oil and products” on the Consolidated Statement of Income. Refer to Note 14 Operating Segments and Geographic Data for additional information on the company’s segmentation of revenue. Receivables related to revenue from contracts with customers are included in “Accounts and notes receivable” on the Consolidated Balance Sheet, net of the allowance for doubtful accounts. The net balance of these receivables was $14,227 and $13,641 at December 31, 2024 and 2023, respectively. Other items included in “Accounts and notes receivable” 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 . Contract assets and related costs are reflected in “Prepaid expenses and other current assets” and contract liabilities are reflected in “Accrued liabilities” and “Deferred credits and other noncurrent obligations” on the Consolidated Balance Sheet. Amounts for these items are not material to the company’s financial position.

Other Financial Information

Other Financial Information	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Financial Information	Other Financial Information Earnings in 2024 included after -tax gains of approximately $246 relating to the sale of certain properties. Of this amount, approximately $231 and $15 related to upstream and downstream, respectively. Earn ings in 2023 included after-tax gains of approximately $143 relating to the sale of certain properties, of which approximately $110 and $33 related to upstream and downstream assets, respectively. Earnings in 2022 included after-tax gains of approximately $390 relating to the sale of certain properties, of which approximately $300 and $90 related to upstream and downstream assets, respectively. Earnings in 2024 included after-tax charges of approximat ely $715 for s everance ($208 in All Other, $188 in U.S. Downstream, $183 in U.S. Upstream, $119 in International Upstream, $17 in International Downstream) and $400 for impairments ($185 in International Downstream, $125 in International Upstream, $90 in U.S. Downstream) . Earnings in 2023 included after-tax charges of approximately $1,950 for decommissioning obligations from previously divested oil and gas production assets in the U.S. Upstream Gulf of America, $1,765 for U.S. Upstream impairments, mainly in California, and several tax items with a net benefit of $655 in International Upstream. Earnings in 2022 included after-tax charges of approximately $1,075 for impairments and other asset write-offs related to International Upstream, $600 for an early contract termination in U.S. Upstream, and $271 for pension settlement costs in All Other. Other financial information is as follows: Year ended December 31 2024 2023 2022 Total financing interest and debt costs $ 773 $ 617 $ 630 Less: Capitalized interest 179 148 114 Interest and debt expense $ 594 $ 469 $ 516 Research and development expenses $ 353 $ 320 $ 268 Excess of replacement cost over the carrying value of inventories (LIFO method) $ 5,997 $ 6,455 $ 9,061 LIFO profits (losses) on inventory drawdowns included in earnings $ (111) $ 14 $ 122 Foreign currency effects * $ 520 $ (224) $ 669 * Includes $45, $(11) and $253 in 2024, 2023 and 2022, respectively, for the company’s share of equity affiliates’ foreign currency effects. The company has $4,578 in goodwill on the Consolidated Balance Sheet, of which $ 4,226 is in the upstream segment primarily related to the 2005

Financial Instruments - Credit

Financial Instruments - Credit Losses	12 Months Ended
	Dec. 31, 2024
Receivables [Abstract]
Financial Instruments - Credit Losses	Financial Instruments - Credit Losses Chevron’s expected credit loss allowance balance was $611 and $641 at December 31, 2024, and December 31, 2023, respectively, 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 $18,338 at December 31, 2024, 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. Chevron’s non-trade receivable balance was $3,835 at December 31, 2024, which includes receivables from certain governments in their capacity as joint venture partners. Joint venture partner balances that are paid as per contract terms or not yet due are subject to the statistical analysis described above while past due balances are subject to additional qualitative management quarterly review. This management review includes review of reasonable and supportable repayment forecasts. Non-trade receivables also include employee and tax receivables that are deemed immaterial and low risk. Loans to equity affiliates and non-equity investees are also considered non-trade and associated allowances of zero and $219 at December 31, 2024, and December 31, 2023, respectively, are included within “Investments and advances” on the Consolidated Balance Sheet.

Acquisition of PDC Energy, Inc.

Acquisition of PDC Energy, Inc.	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisition of PDC Energy, Inc.	Acquisition of PDC Energy, Inc. On August 7, 2023, the company acquired PDC Energy, Inc. (PDC), an independent exploration and production company with operations in the Denver-Julesburg Basin in Colorado and the Delaware Basin in west Texas. The aggregate purchase price of PDC was $6,520, with approximately 41 million shares of Chevron common stock issued as consideration in the transaction. The shares represented approximately two percent of the shares of Chevron common stock outstanding immediately after the transaction closed on August 7, 2023. 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 value. Oil and gas properties were valued using a discounted cash flow approach that incorporated internally generated price assumptions and production profiles together with appropriate operating cost and development cost assumptions. Debt assumed in the acquisition was valued based on observable market prices for PDC’s debt. As a result of measuring the assets acquired and the liabilities assumed at fair value, there was no goodwill or bargain purchase recognized. The following table summarizes the fair values assigned to assets acquired and liabilities assumed: At August 7, 2023 Current assets $ 630 Properties, plant and equipment 10,487 Other assets 118 Total assets acquired 11,235 Current liabilities 1,376 Long-term debt 1,473 Deferred income tax 1,397 Other liabilities 469 Total liabilities assumed 4,715 Purchase Price $ 6,520 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. Agreement to Acquire Hess Corporation On October 23, 2023, Chevron Corporation announced it had entered into a definitive agreement with Hess Corporation (Hess) to acquire all of its outstanding shares in an all-stock transaction, valued at approximately $53,000, pursuant to which Hess stockholders will receive 1.0250 shares of Chevron common stock for each Hess share. The transaction was unanimously approved by the Boards of Directors of both companies. On May 28, 2024, a majority of Hess stockholders voted to approve the merger. Following the Federal Trade Commission’s (FTC) review of the transaction, on September 30, 2024, the FTC announced that a majority of the Commission voted to accept a consent agreement among the FTC, Chevron and Hess, resolving the concerns the FTC identified during its review of the transaction. Chevron and Hess have taken and will continue to take appropriate steps to maintain our ability to close the merger under the Hart-Scott-Rodino Act of 1976, as amended. The filing of an arbitration relating to the right of first refusal contained in the Stabroek Block operating agreement among Hess Guyana Exploration Limited, a wholly owned subsidiary of Hess, and affiliates of Exxon Mobil Corporation, and China National Offshore Oil Corporation has delayed completion of the transaction. An arbitration decision against Hess Guyana and in favor of Exxon Guyana and CNOOC Guyana would cause the transaction not to be completed. The arbitration merits hearing has been scheduled for May 2025, with a decision expected in approximately the following three months. Chevron and Hess are working to complete the merger as soon as practicable. However, neither Chevron nor Hess can predict the actual date on which the transaction will be completed, if at all, because it is subject to conditions beyond each company’s control. See Item 1A. Risk Factors for a discussion of risks related to the Hess acquisition.

Agreement to Acquire Hess Corpo

Agreement to Acquire Hess Corporation	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Agreement to Acquire Hess Corporation	Acquisition of PDC Energy, Inc. On August 7, 2023, the company acquired PDC Energy, Inc. (PDC), an independent exploration and production company with operations in the Denver-Julesburg Basin in Colorado and the Delaware Basin in west Texas. The aggregate purchase price of PDC was $6,520, with approximately 41 million shares of Chevron common stock issued as consideration in the transaction. The shares represented approximately two percent of the shares of Chevron common stock outstanding immediately after the transaction closed on August 7, 2023. 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 value. Oil and gas properties were valued using a discounted cash flow approach that incorporated internally generated price assumptions and production profiles together with appropriate operating cost and development cost assumptions. Debt assumed in the acquisition was valued based on observable market prices for PDC’s debt. As a result of measuring the assets acquired and the liabilities assumed at fair value, there was no goodwill or bargain purchase recognized. The following table summarizes the fair values assigned to assets acquired and liabilities assumed: At August 7, 2023 Current assets $ 630 Properties, plant and equipment 10,487 Other assets 118 Total assets acquired 11,235 Current liabilities 1,376 Long-term debt 1,473 Deferred income tax 1,397 Other liabilities 469 Total liabilities assumed 4,715 Purchase Price $ 6,520 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. Agreement to Acquire Hess Corporation On October 23, 2023, Chevron Corporation announced it had entered into a definitive agreement with Hess Corporation (Hess) to acquire all of its outstanding shares in an all-stock transaction, valued at approximately $53,000, pursuant to which Hess stockholders will receive 1.0250 shares of Chevron common stock for each Hess share. The transaction was unanimously approved by the Boards of Directors of both companies. On May 28, 2024, a majority of Hess stockholders voted to approve the merger. Following the Federal Trade Commission’s (FTC) review of the transaction, on September 30, 2024, the FTC announced that a majority of the Commission voted to accept a consent agreement among the FTC, Chevron and Hess, resolving the concerns the FTC identified during its review of the transaction. Chevron and Hess have taken and will continue to take appropriate steps to maintain our ability to close the merger under the Hart-Scott-Rodino Act of 1976, as amended. The filing of an arbitration relating to the right of first refusal contained in the Stabroek Block operating agreement among Hess Guyana Exploration Limited, a wholly owned subsidiary of Hess, and affiliates of Exxon Mobil Corporation, and China National Offshore Oil Corporation has delayed completion of the transaction. An arbitration decision against Hess Guyana and in favor of Exxon Guyana and CNOOC Guyana would cause the transaction not to be completed. The arbitration merits hearing has been scheduled for May 2025, with a decision expected in approximately the following three months. Chevron and Hess are working to complete the merger as soon as practicable. However, neither Chevron nor Hess can predict the actual date on which the transaction will be completed, if at all, because it is subject to conditions beyond each company’s control. See Item 1A. Risk Factors for a discussion of risks related to the Hess acquisition.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II — Valuation and Qualifying Accounts Year ended December 31 Millions of Dollars 2024 2023 2022 Employee Termination Benefits Balance at January 1 $ 6 $ 11 $ 43 Additions (reductions) charged to expense 987 (2) 1 Payments (3) (3) (33) Balance at December 31 $ 990 $ 6 $ 11 Expected Credit Losses Beginning allowance balance for expected credit losses $ 641 $ 1,008 $ 745 Current period provision (30) (367) 263 Write-offs charged against the allowance, if any — — — Balance at December 31 $ 611 $ 641 $ 1,008 Deferred Income Tax Valuation Allowance * Balance at January 1 $ 20,416 $ 19,532 $ 17,651 Additions to deferred income tax expense 1,881 2,348 3,533 Reduction of deferred income tax expense (984) (1,464) (1,652) Balance at December 31 $ 21,313 $ 20,416 $ 19,532 * See also Note 17 Taxes .

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income (loss) attributable to CUSA	$ 17,661	$ 21,369	$ 35,465

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2024 shares	Dec. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Michael K. Wirth [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Michael K. Wirth, Chairman of the Board and Chief Executive Officer, entered into a pre-arranged stock trading plan on November 6, 2024. Mr. Wirth’s plan provides for the potential exercise of vested stock options and the associated sale of up to 320,700 shares of Chevron common stock between February 26, 2025, and February 28, 2026.
Name	Michael K. Wirth
Title	Chairman of the Board and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 6, 2024
Expiration Date	February 28, 2026
Arrangement Duration	367 days
Aggregate Available	320,700	320,700

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Chevron’s business and proprietary information, information technology (IT) and operational technology (OT) networks are essential to its success. The company’s cybersecurity program is designed to protect its information assets and operations from external and internal cyber threats by identifying and appropriately managing and mitigating risks while ensuring business resiliency. This program is integrated within the company’s Enterprise Risk Management (ERM) process, which is the company’s systematic approach to identifying, managing and assessing major risks and safeguards, including cybersecurity risks. Chevron uses a risk-based information security process aligned with the National Institute of Standards and Technology (NIST) Cybersecurity Framework to identify, prioritize and mitigate cyber risks. The company’s worldwide team of cybersecurity professionals undertakes a range of preemptive activities to protect its people, assets and reputation globally. The company also leverages internal and external resources to monitor cybersecurity threats to its systems and networks and to understand the broader threat environment. The company seeks to remove exploitable weaknesses in its systems or devices before they become a threat. Chevron security experts use automated threat intelligence feeds to increase vulnerability awareness, taking action to mitigate the highest risks. The company’s cybersecurity guardrails, which are high-level design requirements expected to be built into any new digital solutions being deployed, are also updated on an ongoing basis to align with changes in industry standards and the evolving threat environment.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Chevron’s business and proprietary information, information technology (IT) and operational technology (OT) networks are essential to its success. The company’s cybersecurity program is designed to protect its information assets and operations from external and internal cyber threats by identifying and appropriately managing and mitigating risks while ensuring business resiliency. This program is integrated within the company’s Enterprise Risk Management (ERM) process, which is the company’s systematic approach to identifying, managing and assessing major risks and safeguards, including cybersecurity risks. Chevron uses a risk-based information security process aligned with the National Institute of Standards and Technology (NIST) Cybersecurity Framework to identify, prioritize and mitigate cyber risks.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Chevron’s Chief Information Officer (CIO) oversees Chevron’s broader IT program, which includes the company’s cybersecurity program and its ability to remediate and recover from a cybersecurity incident to minimize business and operational impacts. Chevron’s CIO joined Chevron in 2024, bringing more than 20 years of experience leading global innovation initiatives in digital, data, full supply chains, vehicle commerce, energy, and IT operations for technology and automotive companies. Chevron’s Chief Information Security Officer (CISO) reports to the CIO and leads a global cybersecurity team. Chevron operates four Cyber Intelligence Centers around the world, some co-located with critical assets, with cyber professionals who monitor and respond to cyber threats 24 hours a day, 365 days a year, to limit the scope and impact of cyber incidents in its networks. The cybersecurity organization provides the IT leadership, which includes Chevron’s CIO, with regular cybersecurity operations reports detailing prevention, detection, mitigation and remediation efforts associated with cyber incidents, both on Chevron’s networks and third-party supplier networks. The leadership of the cybersecurity organization has authority to mobilize a cross-functional cyber incident response team, including outside cybersecurity experts, to drive mitigation and remediation actions. Status updates on incidents are provided to senior management and to the Board, as appropriate. The company’s dedicated cyber risk organization meets regularly with business units to raise cyber risk awareness and keep diverse cybersecurity skill sets connected across the enterprise. Chevron has invested in broad cybersecurity awareness and required training to educate those with access to Chevron’s networks on company policy and best practices. The company conducts regular phishing tests to train and assess its workforce’s ability to identify malicious emails. Chevron’s Corporate Audit Department has a dedicated team responsible for IT and information security (including cybersecurity) audits. Chevron also leverages external resources to reinforce its cybersecurity capabilities. On a regular basis, external consultants provide a maturity assessment of the company’s cybersecurity program. The company’s approach to managing risks, including cybersecurity risks, is embedded within the enterprise Operational Excellence (OE) Management System (OEMS). The OEMS provides a systematic process that enables the company to manage risk and implement safeguards and foster a culture of learning across different focus areas for Chevron’s business, including cybersecurity. The company’s Business Continuity Planning OE Process, a component of the OEMS, is designed to prepare Chevron to continue operations during an unplanned event or disruption, which aligns with its OE objective to prevent high-consequence security and cybersecurity incidents. Chevron works to identify critical business processes and dependent IT applications and document the processes for continuing operations without IT systems. Cross-functional teams also conduct regular multidisciplinary exercises to test and improve response plans. The Board provides oversight of Chevron’s cybersecurity program, receives reports from management on cybersecurity risks in connection with Chevron’s operations and projects, and also reviews cybersecurity risks as part of the company’s broader annual ERM process. In support of the Board’s oversight of the company’s policies and processes with respect to risk management and the company’s major financial risk exposures, including cybersecurity, the Audit Committee meets with Chevron’s CISO and CIO at least twice a year to review cybersecurity risks and implications, including the results of independent third-party assessments. The CISO and CIO present cybersecurity matters to the Board of Directors at least annually.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Chevron operates four Cyber Intelligence Centers around the world, some co-located with critical assets, with cyber professionals who monitor and respond to cyber threats 24 hours a day, 365 days a year, to limit the scope and impact of cyber incidents in its networks. The cybersecurity organization provides the IT leadership, which includes Chevron’s CIO, with regular cybersecurity operations reports detailing prevention, detection, mitigation and remediation efforts associated with cyber incidents, both on Chevron’s networks and third-party supplier networks. The leadership of the cybersecurity organization has authority to mobilize a cross-functional cyber incident response team, including outside cybersecurity experts, to drive mitigation and remediation actions. Status updates on incidents are provided to senior management and to the Board, as appropriate. The company’s dedicated cyber risk organization meets regularly with business units to raise cyber risk awareness and keep diverse cybersecurity skill sets connected across the enterprise. Chevron has invested in broad cybersecurity awareness and required training to educate those with access to Chevron’s networks on company policy and best practices. The company conducts regular phishing tests to train and assess its workforce’s ability to identify malicious emails. Chevron’s Corporate Audit Department has a dedicated team responsible for IT and information security (including cybersecurity) audits. Chevron also leverages external resources to reinforce its cybersecurity capabilities. On a regular basis, external consultants provide a maturity assessment of the company’s cybersecurity program.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The company’s approach to managing risks, including cybersecurity risks, is embedded within the enterprise Operational Excellence (OE) Management System (OEMS). The OEMS provides a systematic process that enables the company to manage risk and implement safeguards and foster a culture of learning across different focus areas for Chevron’s business, including cybersecurity. The company’s Business Continuity Planning OE Process, a component of the OEMS, is designed to prepare Chevron to continue operations during an unplanned event or disruption, which aligns with its OE objective to prevent high-consequence security and cybersecurity incidents. Chevron works to identify critical business processes and dependent IT applications and document the processes for continuing operations without IT systems. Cross-functional teams also conduct regular multidisciplinary exercises to test and improve response plans.
Cybersecurity Risk Role of Management [Text Block]	The Board provides oversight of Chevron’s cybersecurity program, receives reports from management on cybersecurity risks in connection with Chevron’s operations and projects, and also reviews cybersecurity risks as part of the company’s broader annual ERM process. In support of the Board’s oversight of the company’s policies and processes with respect to risk management and the company’s major financial risk exposures, including cybersecurity, the Audit Committee meets with Chevron’s CISO and CIO at least twice a year to review cybersecurity risks and implications, including the results of independent third-party assessments. The CISO and CIO present cybersecurity matters to the Board of Directors at least annually.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	The Board provides oversight of Chevron’s cybersecurity program, receives reports from management on cybersecurity risks in connection with Chevron’s operations and projects, and also reviews cybersecurity risks as part of the company’s broader annual ERM process.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Chevron’s CIO joined Chevron in 2024, bringing more than 20 years of experience leading global innovation initiatives in digital, data, full supply chains, vehicle commerce, energy, and IT operations for technology and automotive companies. Chevron’s Chief Information Security Officer (CISO) reports to the CIO and leads a global cybersecurity team.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	the Audit Committee meets with Chevron’s CISO and CIO at least twice a year to review cybersecurity risks and implications, including the results of independent third-party assessments.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
General	General
Subsidiary and Affiliated Companies	Subsidiary and Affiliated Companies The Consolidated Financial Statements include the accounts of controlled subsidiary companies more than 50 percent-owned and any variable interest entities in which the company is the primary beneficiary. Undivided interests in oil and gas joint ventures and certain other assets are consolidated on a proportionate basis. Investments in and advances to affiliates in which the company has a substantial ownership interest of approximately 20 percent to 50 percent, or for which the company exercises significant influence but not control over policy decisions, are accounted for by the equity method. Investments in affiliates are assessed for possible impairment when events indicate that the fair value of the investment may be below the company’s carrying value. When such a condition is deemed to be other than temporary, the carrying value of the investment is written down to its fair value, and the amount of the write-down is included in net income. In making the determination as to whether a decline is other than temporary, the company considers such factors as the duration and extent of the decline, the investee’s financial performance, and the company’s ability and intention to retain its investment for a period that will be sufficient to allow for any anticipated recovery in the investment’s market value. The new cost basis of investments in these equity investees is not changed for subsequent recoveries in fair value.
Noncontrolling Interests	Noncontrolling Interests Ownership interests in the company’s subsidiaries held by parties other than the parent are presented separately from the parent’s equity on the Consolidated Balance Sheet. The amount of consolidated net income attributable to the parent and the noncontrolling interests are both presented on the face of the Consolidated Statement of Income and Consolidated Statement of Equity. Included within noncontrolling interest is redeemable noncontrolling interest.
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 a liability are as follows. Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or liability. Level 3 inputs are inputs that are not observable in the market.
Derivatives	Derivatives
Inventories	Inventories
Properties, Plant and Equipment	Properties, Plant and Equipment The successful efforts method is used for crude oil and natural gas exploration and production activities. All costs for development wells, related plant and equipment, proved mineral interests in crude oil and natural gas properties, and related asset retirement obligation (ARO) assets are capitalized. Costs of exploratory wells are capitalized pending determination of whether the wells found proved reserves. Costs of wells that are assigned proved reserves remain capitalized. Costs also are capitalized for exploratory wells that have found crude oil and natural gas reserves even if the reserves cannot be classified as proved when the drilling is completed, provided the exploratory well has found a sufficient quantity of reserves to justify its completion as a producing well and the company is making sufficient progress assessing the reserves and the economic and operating viability of the project. All other exploratory wells and costs are expensed. Refer to Note 21 Accounting for Suspended Exploratory Wells for additional discussion of accounting for suspended exploratory well costs. Long-lived assets to be held and used, including proved crude oil and natural gas properties, are assessed for possible impairment by comparing their carrying values with their associated undiscounted, future net cash flows. Events that can trigger assessments for possible impairments include write-downs of proved reserves based on field performance, significant decreases in the market value of an asset (including changes to the commodity price forecast or carbon costs), significant change in the extent or manner of use of or a physical change in an asset, and a more likely than not expectation that a long-lived asset or asset group will be sold or otherwise disposed of significantly sooner than the end of its previously estimated useful life. Impaired assets are written down to their estimated fair values, generally their discounted, future net cash flows. For proved crude oil and natural gas properties, the company performs impairment reviews on a country, concession, PSC, development area or field basis, as appropriate. In downstream, impairment reviews are performed on the basis of a refinery, a plant, a marketing/lubricants area or distribution area, as appropriate. Impairment amounts are recorded as incremental “Depreciation, depletion and amortization” expense. Long-lived assets that are held for sale are evaluated for possible impairment by comparing the carrying value of the asset with its fair value less the cost to sell. If the net book value exceeds the fair value less cost to sell, the asset is considered impaired and adjusted to the lower value. Refer to Note 9 Fair Value Measurements relating to fair value measurements. The fair value of a liability for an ARO is recorded as an asset and a liability when there is a legal obligation associated with the retirement of a long-lived asset and the amount can be reasonably estimated. Refer also to Note 25 Asset Retirement Obligations relating to AROs. Depreciation and depletion of all capitalized costs of proved crude oil and natural gas producing properties, except mineral interests, are expensed using the unit-of-production method, generally by individual field, as the proved developed reserves are produced. Depletion expenses for capitalized costs of proved mineral interests are recognized using the unit-of-production method by individual field as the related proved reserves are produced. Impairments of capitalized costs of unproved mineral interests are expensed. The capitalized costs of all other plant and equipment are depreciated or amortized over their estimated useful lives. In general, the declining-balance method is used to depreciate plant and equipment in the United States; the straight-line method is generally used to depreciate international plant and equipment and to amortize finance lease right-of-use assets. Gains or losses are not recognized for normal retirements of properties, plant and equipment subject to composite group amortization or depreciation. Gains or losses from abnormal retirements are recorded as expenses, and from sales as “Other income.” Expenditures for maintenance (including those for planned major maintenance projects), repairs and minor renewals to maintain facilities in operating condition are generally expensed as incurred. Major replacements and renewals are capitalized.
Leases	Leases Leases are classified as operating or finance leases. Both operating and finance leases recognize lease liabilities and associated right-of-use assets. The company has elected the short-term lease exception and therefore only recognizes right-of-use assets and lease liabilities for leases with a term greater than one year. The company has elected the practical expedient to not separate non-lease components from lease components for most asset classes except for certain asset classes that have significant non-lease (i.e., service) components. Where leases are used in joint ventures, the company recognizes 100 percent of the right-of-use assets and lease liabilities when the company is the sole signatory for the lease (in most cases, where the company is the operator of a joint venture). Lease costs reflect only the costs associated with the operator’s working interest share. The lease term includes the committed lease term identified in the contract, taking into account renewal and termination options that management is reasonably certain to exercise. The company uses its incremental borrowing rate as a proxy for the discount rate based on the term of the lease unless the implicit rate is available.
Decommissioning Obligations from Previously Divested Assets	Decommissioning Obligations from Previously Divested Assets
Goodwill	Goodwill
Environmental Expenditures	Environmental Expenditures Environmental expenditures that relate to ongoing operations or to conditions caused by past operations are expensed. Expenditures that create future benefits or contribute to future revenue generation are capitalized. Liabilities related to future remediation costs are recorded when environmental assessments or cleanups or both are probable and the costs can be reasonably estimated. For crude oil, natural gas and mineral-producing properties, a liability for an ARO is made in accordance with accounting standards for asset retirement and environmental obligations. Refer to Note 25 Asset Retirement Obligations for a discussion of the company’s AROs.
Currency Translation	Currency Translation
Revenue Recognition	Revenue Recognition The company accounts for each delivery order of crude oil, NGLs, natural gas, petroleum and chemical products as a separate performance obligation. Revenue is recognized when the performance obligation is satisfied, which typically occurs at the point in time when control of the product transfers to the customer. Payment is generally due within 30 days of delivery. The company accounts for delivery transportation as a fulfillment cost, not a separate performance obligation, and recognizes these costs as an operating expense in the period when revenue for the related commodity is recognized. Revenue is measured as the amount the company expects to receive in exchange for transferring commodities to the customer. The company’s commodity sales are typically based on prevailing market-based prices and may include discounts and allowances. Until market prices become known under terms of the company’s contracts, the transaction price included in revenue is based on the company’s estimate of the most likely outcome. Discounts and allowances are estimated using a combination of historical and recent data trends. When deliveries contain multiple products, an observable standalone selling price is generally used to measure revenue for each product. The company includes estimates in the transaction price only to the extent that a significant reversal of revenue is not probable in subsequent periods. Revenue from contracts with customers is presented in “Sales and other operating revenues” along with some activity that is accounted for outside the scope of Accounting Standard Codification (ASC) 606, which is not material to this line, on the Consolidated Statement of Income. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another (including buy/sell arrangements) are combined and recorded on a net basis and reported in “Purchased crude oil and products” on the Consolidated Statement of Income. Refer to Note 14 Operating Segments and Geographic Data for additional information on the company’s segmentation of revenue. Receivables related to revenue from contracts with customers are included in “Accounts and notes receivable” on the Consolidated Balance Sheet, net of the allowance for doubtful accounts. The net balance of these receivables was $14,227 and $13,641 at December 31, 2024 and 2023, respectively. Other items included in “Accounts and notes receivable” 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 . Contract assets and related costs are reflected in “Prepaid expenses and other current assets” and contract liabilities are reflected in “Accrued liabilities” and “Deferred credits and other noncurrent obligations” on the Consolidated Balance Sheet. Amounts for these items are not material to the company’s financial position.
Stock Options and Other Share-Based Compensation	Stock Options and Other Share-Based Compensation The company issues stock options and other share-based compensation to certain employees. For equity awards, such as stock options and certain restricted stock units, total compensation cost is based on the grant date fair value, and for liability awards, such as stock appreciation rights, total compensation cost is based on the settlement value. The company recognizes stock-based compensation expense for all awards over the service period required to earn the award, which is the shorter of the vesting period or the time period in
New Accounting Standards	New Accounting Standards Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures The company has adopted the Financial Accounting Standards Board (FASB) Accounting Standard Update (ASU) 2023-07 which is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The standard requires companies to disclose significant segment expenses. The adoption of this ASU did not have an impact on the company’s consolidated financial position or results of operations. For additional information, refer to Note 14 Operating Segments and Geographic Data . Income Taxes (Topic 740) Improvements to Income Tax Disclosures In December 2023, the FASB issued ASU 2023-09, which becomes effective for fiscal years beginning after December 15, 2024. The standard requires companies to disclose specific categories in the income tax rate reconciliation table and the amount of income taxes paid per major jurisdiction. The company does not expect the standard to have a material effect on its consolidated financial statements and continues to evaluate disclosure presentation alternatives. Income Statement (Topic 220) Reporting Comprehensive Income - Expense Disaggregation Disclosures In November 2024, the FASB issued ASU 2024-03, which becomes effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The standard requires companies to disclose disaggregated information about certain income statement expense line items. The company does not expect the standard to have a material effect on its consolidated financial statements and has begun evaluating disclosure presentation alternatives.
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 LNG; transporting crude oil by major international oil export pipelines; processing, transporting, storage and marketing of natural gas; carbon capture and storage; 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 activities. The company’s segments are managed by “segment managers” who report to the “chief operating decision maker” (CODM), which is comprised of the company’s Executive Committee, as referenced in Item 10 Executive Officers
Uncertain Income Tax Positions	Uncertain Income Tax Positions
Accounting for Suspended Exploratory Wells	Accounting for Suspended Exploratory Wells The company continues to capitalize exploratory well costs after the completion of drilling when the well has found a sufficient quantity of reserves to justify completion as a producing well, and the business unit is making sufficient progress assessing the reserves and the economic and operating viability of the project. If either condition is not met or if the company obtains information that raises substantial doubt about the economic or operational viability of the project, the exploratory well would be assumed to be impaired, and its costs, net of any salvage value, would be charged to expense.

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Losses (Tables)	12 Months Ended
	Dec. 31, 2024
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 year ended December 31, 2024, are reflected in the table below. Currency Translation Adjustments Unrealized Holding Gains (Losses) on Securities Derivatives Defined Benefit Plans Total Balance at December 31, 2021 $ (162) $ (11) $ — $ (3,716) $ (3,889) Components of Other Comprehensive Income (Loss) 1 : Before Reclassifications (41) (1) 68 703 729 Reclassifications 2, 3 — — (80) 442 362 Net Other Comprehensive Income (Loss) (41) (1) (12) 1,145 1,091 Balance at December 31, 2022 $ (203) $ (12) $ (12) $ (2,571) $ (2,798) Components of Other Comprehensive Income (Loss) 1 : Before Reclassifications 11 1 (16) (397) (401) Reclassifications 2, 3 — — 33 206 239 Net Other Comprehensive Income (Loss) 11 1 17 (191) (162) Balance at December 31, 2023 $ (192) $ (11) $ 5 $ (2,762) $ (2,960) Components of Other Comprehensive Income (Loss) 1 : Before Reclassifications (67) (8) (44) 119 — Reclassifications 2, 3 — — 25 175 200 Net Other Comprehensive Income (Loss) (67) (8) (19) 294 200 Balance at December 31, 2024 $ (259) $ (19) $ (14) $ (2,468) $ (2,760) 1 All amounts are net of tax. 2 Refer to Note 23 Employee Benefit Plans , for reclassified components, including amortization of actuarial gains or losses, amortization of prior service costs and settlement losses, totaling $237 that are included in employee benefit costs for the year ended December 31, 2024. Related income taxes for the same period, totaling $62, are reflected in Income Tax Expense on the Consolidated Statement of Income. All other reclassified amounts were insignificant. 3 Refer to Note 10 Financial and Derivative Instruments for cash flow hedging.

Information Relating to the C_2

Information Relating to the Consolidated Statement of Cash Flows (Tables)	12 Months Ended
	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Schedule of Information Relating to Consolidated Statement of Cash Flows	Year ended December 31 2024 2023 2022 Distributions more (less) than income from equity affiliates includes the following: Distributions from equity affiliates $ 4,230 $ 4,246 $ 3,855 (Income) loss from equity affiliates (4,596) (5,131) (8,585) Distributions more (less) than income from equity affiliates $ (366) $ (885) $ (4,730) Net decrease (increase) in operating working capital was composed of the following: Decrease (increase) in accounts and notes receivable $ (932) $ 1,187 $ (2,317) Decrease (increase) in inventories (574) (320) (930) Decrease (increase) in prepaid expenses and other current assets (16) (1,202) (226) Increase (decrease) in accounts payable and accrued liabilities 2,569 (49) 2,750 Increase (decrease) in income and other taxes payable 164 (2,801) 2,848 Net decrease (increase) in operating working capital $ 1,211 $ (3,185) $ 2,125 Net cash provided by operating activities includes the following cash payments: Interest on debt (net of capitalized interest) $ 587 $ 465 $ 525 Income taxes 8,458 10,416 9,148 Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts: Proceeds and deposits related to asset sales $ 7,509 $ 446 $ 1,435 Returns of investment from equity affiliates 195 223 1,200 Proceeds and deposits related to asset sales and returns of investment $ 7,704 $ 669 $ 2,635 Net maturities (investments) of time deposits consisted of the following gross amounts: Investments in time deposits $ (6) $ — $ — Maturities of time deposits 2 — — Net maturities of (investments in) time deposits $ (4) $ — $ — Net sales (purchases) of marketable securities consisted of the following gross amounts: Marketable securities purchased $ — $ (289) $ (7) Marketable securities sold 45 464 124 Net sales (purchases) of marketable securities $ 45 $ 175 $ 117 Net repayment (borrowing) of loans by equity affiliates: Borrowing of loans by equity affiliates $ (304) $ (368) $ (108) Repayment of loans by equity affiliates 71 66 84 Net repayment (borrowing) of loans by equity affiliates $ (233) $ (302) $ (24) Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts: Repayments of short-term obligations $ (840) $ — $ — Proceeds from issuances of short-term debt obligations 4,539 — — Net borrowings (repayments) of short-term obligations with three months or less maturity 1,169 135 263 Net borrowings (repayments) of short-term obligations $ 4,868 $ 135 $ 263 Net sales (purchases) of treasury shares consists of the following gross and net amounts: Shares issued for share-based compensation plans $ 330 $ 261 $ 5,838 Shares purchased under share repurchase and deferred compensation plans (15,229) (14,939) (11,255) Share repurchase excise tax payments (145) — — Net sales (purchases) of treasury shares $ (15,044) $ (14,678) $ (5,417) Net contributions from (distributions to) noncontrolling interests consisted of the following gross and net amounts: Distributions to noncontrolling interests $ (210) $ (54) $ (118) Contributions from noncontrolling interests 15 14 4 Net contributions from (distributions to) noncontrolling interests $ (195) $ (40) $ (114)
Schedule of Capital expenditures	The components of “Capital expenditures” are presented in the following table: Year ended December 31 2024 2023 2022 Additions to properties, plant and equipment * $ 15,544 $ 14,788 $ 10,349 Additions to investments 573 690 1,147 Current-year dry hole expenditures 331 326 309 Payments for other assets and liabilities, net — 25 169 Capital expenditures $ 16,448 $ 15,829 $ 11,974 * Excludes non-cash movements of $395 in 2024, $1,559 in 2023 and $316 in 2022.
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: Year ended December 31 2024 2023 2022 Cash and cash equivalents $ 6,781 $ 8,178 $ 17,678 Restricted cash included in “Prepaid expenses and other current assets” 281 275 630 Restricted cash included in “Deferred charges and other assets” 1,200 822 813 Total cash, cash equivalents and restricted cash $ 8,262 $ 9,275 $ 19,121
Schedule of 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: Year ended December 31 2024 2023 2022 Cash and cash equivalents $ 6,781 $ 8,178 $ 17,678 Restricted cash included in “Prepaid expenses and other current assets” 281 275 630 Restricted cash included in “Deferred charges and other assets” 1,200 822 813 Total cash, cash equivalents and restricted cash $ 8,262 $ 9,275 $ 19,121

Lease Commitments (Tables)

Lease Commitments (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Assets And Liabilities, Lessee	Details of the right-of-use assets and lease liabilities for operating and finance leases, including the balance sheet presentation, are as follows: At December 31, 2024 At December 31, 2023 Operating Finance Operating Finance Deferred charges and other assets $ 5,315 $ — $ 5,422 $ — Properties, plant and equipment, net — 570 — 583 Right-of-use assets* $ 5,315 $ 570 $ 5,422 $ 583 Accrued liabilities $ 1,519 $ — $ 1,538 $ — Short-term debt — 58 — 60 Current lease liabilities 1,519 58 1,538 60 Deferred credits and other noncurrent obligations 3,551 — 3,696 — Long-term debt — 546 — 574 Noncurrent lease liabilities 3,551 546 3,696 574 Total lease liabilities $ 5,070 $ 604 $ 5,234 $ 634 Weighted-average remaining lease term (in years) 6.3 13.2 6.7 12.6 Weighted-average discount rate 3.7 % 4.6 % 3.3 % 4.5 % *
Schedule of Lease, Cost	Total lease costs consist of both amounts recognized in the Consolidated Statement of Income during the period and amounts capitalized as part of the cost of another asset. Total lease costs incurred for operating and finance leases were as follows: Year-ended December 31 2024 2023 2022 Operating lease costs* $ 3,447 $ 2,984 $ 2,359 Finance lease costs 83 52 57 Total lease costs $ 3,530 $ 3,036 $ 2,416 * Includes variable and short-term lease costs. Cash paid for amounts included in the measurement of lease liabilities was as follows: Year-ended December 31 2024 2023 2022 Operating cash flows from operating leases $ 2,468 $ 2,271 $ 1,892 Investing cash flows from operating leases 979 713 467 Operating cash flows from finance leases 26 15 18 Financing cash flows from finance leases 67 42 44
Schedule of Lessee, Operating Lease, Liability, Maturity	At December 31, 2024, the estimated future undiscounted cash flows for operating and finance leases were as follows: At December 31, 2024 Operating Leases Finance Year 2025 $ 1,665 $ 83 2026 1,162 80 2027 833 73 2028 555 69 2029 275 64 Thereafter 1,276 445 Total $ 5,766 $ 814 Less: Amounts representing interest 696 210 Total lease liabilities $ 5,070 $ 604
Schedule of Finance Lease, Liability, Maturity	At December 31, 2024, the estimated future undiscounted cash flows for operating and finance leases were as follows: At December 31, 2024 Operating Leases Finance Year 2025 $ 1,665 $ 83 2026 1,162 80 2027 833 73 2028 555 69 2029 275 64 Thereafter 1,276 445 Total $ 5,766 $ 814 Less: Amounts representing interest 696 210 Total lease liabilities $ 5,070 $ 604

Summarized Financial Data - C_2

Summarized Financial Data - Chevron U.S.A. Inc. (Tables)	12 Months Ended
	Dec. 31, 2024
Summarized Financial Data of Subsidiary One [Abstract]
Schedule of Summarized Financial Data - Chevron U.S.A. Inc.	The summarized financial information for CUSA and its consolidated subsidiaries is as follows: Year ended December 31 2024 2023 2022 Sales and other operating revenues $ 149,925 $ 152,347 $ 183,032 Total costs and other deductions 145,582 144,482 166,955 Net income (loss) attributable to CUSA 4,151 4,598 13,315
Schedule of Summarized Financial Data Affiliate Net Equity One	At December 31 2024 2023 Current assets $ 20,153 $ 19,489 Other assets 58,485 54,460 Current liabilities 25,825 20,624 Other liabilities 21,455 22,227 Total CUSA net equity $ 31,358 $ 31,098 Memo: Total debt $ 8,917 $ 9,740

Summarized Financial Data - T_2

Summarized Financial Data - Tengizchevroil LLP (Tables)	12 Months Ended
	Dec. 31, 2024
Summarized Financial Data of Affiliate [Abstract]
Schedule of Summarized Financial Data - Tengizchevroil LLP	Summarized financial information for 100 percent of TCO is presented in the table below: Year ended December 31 2024 2023 2022 Sales and other operating revenues $ 18,872 $ 19,758 $ 23,975 Costs and other deductions 10,616 10,193 11,956 Net income attributable to TCO 5,779 6,569 8,566
Schedule of Summarized Financial Data and its Affiliate	At December 31 2024 2023 Current assets $ 4,753 $ 3,919 Other assets 58,057 57,454 Current liabilities 3,203 2,372 Other liabilities 12,459 12,782 Total TCO net equity $ 47,148 $ 46,219

Restructuring and Reorganizat_2

Restructuring and Reorganization Costs (Tables)	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following table summarizes the accrued severance liability. Amounts Before Tax Balance at January 1, 2024 $ 6 Accruals/Adjustments 987 Payments (3) Balance at December 31, 2024 $ 990

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and Liabilities Measured at Fair Value on a Recurring Basis At December 31, 2024 At December 31, 2023 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Marketable securities $ — $ — $ — $ — $ 45 $ 45 $ — $ — Derivatives - not designated 137 127 10 — 152 24 128 — Derivatives - designated — — — — 7 7 — — Total assets at fair value $ 137 $ 127 $ 10 $ — $ 204 $ 76 $ 128 $ — Derivatives - not designated 136 47 89 — 262 160 102 — Derivatives - designated 17 17 — — — — — — Total liabilities at fair value $ 153 $ 64 $ 89 $ — $ 262 $ 160 $ 102 $ —
Schedule of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis	Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis At December 31 At December 31 Before-Tax Loss Before-Tax Loss Total Level 1 Level 2 Level 3 Year 2024 Total Level 1 Level 2 Level 3 Year 2023 Properties, plant and equipment, net (held and used) $ 324 $ — $ — $ 324 $ 226 $ 484 $ — $ — $ 484 $ 2,175 Properties, plant and equipment, net (held for sale) 616 — 616 — 274 — — — — 5 Investments and advances 36 — 36 — 289 207 5 165 37 352 Total nonrecurring assets at fair value $ 976 $ — $ 652 $ 324 $ 789 $ 691 $ 5 $ 165 $ 521 $ 2,532

Financial and Derivative Inst_2

Financial and Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Consolidated Balance Sheet: Fair Value of Derivatives not Designated as Hedging Instruments	Consolidated Balance Sheet: Fair Value of Derivatives At December 31 Type of Contract Balance Sheet Classification 2024 2023 Commodity Accounts and notes receivable $ 122 $ 151 Commodity Long-term receivables, net 15 8 Total assets at fair value $ 137 $ 159 Commodity Accounts payable $ 127 $ 216 Commodity Deferred credits and other noncurrent obligations 26 46 Total liabilities at fair value $ 153 $ 262
Schedule of Consolidated Statement of Income: The Effect of Derivatives not Designated as Hedging Instruments	Consolidated Statement of Income: The Effect of Derivatives Gain/(Loss) Year ended December 31 Type of Contract Statement of Income Classification 2024 2023 2022 Commodity Sales and other operating revenues $ (57) $ (304) $ (651) Commodity Purchased crude oil and products 28 (154) (226) Commodity Other income (loss) 6 (47) 10 $ (23) $ (505) $ (867)
Schedule Consolidated Balance Sheet: The Effect of Netting Derivative Assets	The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at December 31, 2024 and 2023. Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amounts At December 31, 2024 Derivative Assets - not designated $ 1,895 $ 1,758 $ 137 $ 3 $ 134 Derivative Assets - designated $ — $ — $ — $ — $ — Derivative Liabilities - not designated $ 1,894 $ 1,758 $ 136 $ 2 $ 134 Derivative Liabilities - designated $ 17 $ — $ 17 $ — $ 17 At December 31, 2023 Derivative Assets - not designated $ 2,394 $ 2,242 $ 152 $ 4 $ 148 Derivative Assets - designated $ 8 $ 1 $ 7 $ — $ 7 Derivative Liabilities - not designated $ 2,504 $ 2,242 $ 262 $ 15 $ 247 Derivative Liabilities - designated $ 1 $ 1 $ — $ — $ —
Schedule of Consolidated Balance Sheet: The Effect of Netting Derivative Liabilities	The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at December 31, 2024 and 2023. Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities Gross Amounts Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amounts At December 31, 2024 Derivative Assets - not designated $ 1,895 $ 1,758 $ 137 $ 3 $ 134 Derivative Assets - designated $ — $ — $ — $ — $ — Derivative Liabilities - not designated $ 1,894 $ 1,758 $ 136 $ 2 $ 134 Derivative Liabilities - designated $ 17 $ — $ 17 $ — $ 17 At December 31, 2023 Derivative Assets - not designated $ 2,394 $ 2,242 $ 152 $ 4 $ 148 Derivative Assets - designated $ 8 $ 1 $ 7 $ — $ 7 Derivative Liabilities - not designated $ 2,504 $ 2,242 $ 262 $ 15 $ 247 Derivative Liabilities - designated $ 1 $ 1 $ — $ — $ —

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted EPS	The table below sets forth the computation of basic and diluted EPS: Year ended December 31 2024 2023 2022 Basic EPS Calculation Earnings available to common stockholders - Basic * $ 17,661 $ 21,369 $ 35,465 Weighted-average number of common shares outstanding 1,810 1,873 1,931 Add: Deferred awards held as stock units — — — Total weighted-average number of common shares outstanding 1,810 1,873 1,931 Earnings per share of common stock - Basic $ 9.76 $ 11.41 $ 18.36 Diluted EPS Calculation Earnings available to common stockholders - Diluted * $ 17,661 $ 21,369 $ 35,465 Weighted-average number of common shares outstanding 1,810 1,873 1,931 Add: Deferred awards held as stock units — — — Add: Dilutive effect of employee stock-based awards 7 7 9 Total weighted-average number of common shares outstanding 1,817 1,880 1,940 Earnings per share of common stock - Diluted $ 9.72 $ 11.36 $ 18.28 * There was no effect of dividend equivalents paid on stock units or dilutive impact of employee stock-based awards on earnings.

Operating Segments and Geogra_2

Operating Segments and Geographic Data (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Sales and Other Operating Revenues	Segmented income statements for the years ended December 31, 2024, 2023 and 2022 are presented below: Upstream Downstream Segment Total All Other Total Year Ended December 31, 2024 U.S. Int'l. U.S. Int'l. Sales and other operating revenues before elimination $ 44,302 $ 43,466 $ 80,417 $ 77,430 $ 245,615 $ 617 $ 246,232 Intersegment revenue elimination (29,662) (11,258) (9,745) (1,668) (52,333) (485) (52,818) Sales and Other Operating Revenues 14,640 32,208 70,672 75,762 193,282 132 193,414 Income (loss) from equity affiliates (62) 3,642 1,010 10 4,600 (4) 4,596 Other income (loss) 1 346 3,460 358 96 4,260 522 4,782 Total Revenues and Other Income 14,924 39,310 72,040 75,868 202,142 650 202,792 Intersegment product transfers 2 25,305 4,190 (26,845) (2,833) (183) 183 — Less expenses: Purchased crude oil and products 13,326 9,445 33,514 62,921 119,206 — 119,206 Operating and SG&A expenses 7,708 6,412 9,425 6,034 29,579 2,914 32,493 Depreciation, depletion and amortization 7,562 7,935 1,091 360 16,948 334 17,282 Other costs and deductions 3 1,805 1,156 550 2,071 5,582 723 6,305 Total Costs and Other Deductions 30,401 24,948 44,580 71,386 171,315 3,971 175,286 Income Tax Expense (Benefit) 2,198 7,548 84 397 10,227 (470) 9,757 Less: Net income (loss) attributable to non-controlling interests 28 4 — 56 88 — 88 Net Income (Loss) Attributable to Chevron Corporation $ 7,602 $ 11,000 $ 531 $ 1,196 $ 20,329 $ (2,668) $ 17,661 Values have been adjusted for eliminations, unless otherwise specified. 1 Includes interest income of $296 in “All Other.” 2 Valuation of product transfers between operating segments. 3 Includes interest expense of $539 in “All Other.” Upstream Downstream Segment Total All Other Total Year ended December 31, 2023 U.S. Int'l. U.S. Int'l. Sales and other operating revenues before elimination $ 40,115 $ 43,805 $ 83,567 $ 78,058 $ 245,545 $ 597 $ 246,142 Intersegment revenue elimination (26,307) (11,871) (8,793) (1,794) (48,765) (464) (49,229) Sales and Other Operating Revenues 13,808 31,934 74,774 76,264 196,780 133 196,913 Income (loss) from equity affiliates (387) 4,272 736 519 5,140 (9) 5,131 Other income (loss) 1 (2,536) 776 444 39 (1,277) 182 (1,095) Total Revenues and Other Income 10,885 36,982 75,954 76,822 200,643 306 200,949 Intersegment product transfers 2 23,665 4,274 (23,887) (4,184) (132) 132 — Less expenses: Purchased crude oil and products 13,019 7,270 37,176 61,731 119,196 — 119,196 Operating and SG&A expenses 6,879 5,837 8,432 6,058 27,206 2,034 29,240 Depreciation, depletion and amortization 7,666 8,109 931 301 17,007 319 17,326 Other costs and deductions 3 1,676 1,010 515 1,782 4,983 620 5,603 Total Costs and Other Deductions 29,240 22,226 47,054 69,872 168,392 2,973 171,365 Income Tax Expense (Benefit) 1,141 5,733 1,109 519 8,502 (329) 8,173 Less: Net income (loss) attributable to non-controlling interests 21 7 — 14 42 — 42 Net Income (Loss) Attributable to Chevron Corporation $ 4,148 $ 13,290 $ 3,904 $ 2,233 $ 23,575 $ (2,206) $ 21,369 Values have been adjusted for eliminations, unless otherwise specified. 1 Includes interest income of $491 in “All Other.” 2 Valuation of product transfers between operating segments. 3 Includes interest expense of $432 in “All Other.” Upstream Downstream Segment Total All Other Total Year Ended December 31, 2022 U.S. Int'l. U.S. Int'l. Sales and other operating revenues before elimination $ 50,822 $ 56,156 $ 91,824 $ 87,741 $ 286,543 $ 518 $ 287,061 Intersegment revenue elimination (29,870) (13,815) (5,529) (1,728) (50,942) (402) (51,344) Sales and Other Operating Revenues 20,952 42,341 86,295 86,013 235,601 116 235,717 Income (loss) from equity affiliates (22) 6,648 1,003 962 8,591 (6) 8,585 Other income (loss) 1 103 1,272 527 (8) 1,894 56 1,950 Total Revenues and Other Income 21,033 50,261 87,825 86,967 246,086 166 246,252 Intersegment product transfers 2 29,801 7,078 (31,245) (5,706) (72) 72 — Less expenses: Purchased crude oil and products 21,008 12,717 40,483 71,208 145,416 — 145,416 Operating and SG&A expenses 6,799 6,810 7,829 5,094 26,532 2,789 29,321 Depreciation, depletion and amortization 5,012 9,830 913 311 16,066 253 16,319 Other costs and deductions 3 1,699 1,230 446 1,515 4,890 632 5,522 Total Costs and Other Deductions 34,518 30,587 49,671 78,128 192,904 3,674 196,578 Income Tax Expense (Benefit) 3,678 9,055 1,515 280 14,528 (462) 14,066 Less: Net income (loss) attributable to non-controlling interests 17 34 — 92 143 — 143 Net Income (Loss) Attributable to Chevron Corporation $ 12,621 $ 17,663 $ 5,394 $ 2,761 $ 38,439 $ (2,974) $ 35,465 Values have been adjusted for eliminations, unless otherwise specified. 1 Includes interest income of $261 in “All Other.” 2 Valuation of product transfers between operating segments. 3 Includes interest expense of $476 in “All Other.”
Schedule of Segment Assets	Assets at year-end 2024 and 2023 are as follows: At December 31 2024 2023 Upstream United States $ 60,914 $ 58,750 International 123,343 131,685 Goodwill 4,226 4,370 Total Upstream 188,483 194,805 Downstream United States 34,253 33,066 International 22,165 21,070 Goodwill 352 352 Total Downstream 56,770 54,488 Total Segment Assets 245,253 249,293 All Other United States 8,382 10,292 International 3,303 2,047 Total All Other 11,685 12,339 Total Assets – United States 103,549 102,108 Total Assets – International 148,811 154,802 Goodwill 4,578 4,722 Total Assets $ 256,938 $ 261,632

Investments and Advances (Table

Investments and Advances (Tables)	12 Months Ended
	Dec. 31, 2024
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Schedule of Equity in Earnings, Together with Investments in and Advances to Companies Accounted for Using the Equity Method and Other Investments Accounted for at or Below Cost	Equity in earnings, together with investments in and advances to companies accounted for using the equity method and other investments accounted for at or below cost, is shown in the following table. For certain equity affiliates, Chevron pays its share of some income taxes directly. For such affiliates, the equity in earnings does not include these taxes, which are reported on the Consolidated Statement of Income as “Income tax expense.” Investments and Advances Equity in Earnings At December 31 Year ended December 31 2024 2023 2024 2023 2022 Upstream Tengizchevroil $ 27,368 $ 26,954 $ 3,033 $ 3,375 $ 4,386 Caspian Pipeline Consortium 719 797 180 158 128 Angola LNG Limited 1,665 1,762 405 513 1,857 Other 1,716 2,106 (38) (161) 255 Total Upstream 31,468 31,619 3,580 3,885 6,626 Downstream Chevron Phillips Chemical Company LLC 8,571 7,765 903 608 867 GS Caltex Corporation 4,144 4,309 58 437 874 Other 2,432 2,426 60 210 224 Total Downstream 15,147 14,500 1,021 1,255 1,965 All Other Other 3 (6) (5) (9) (6) Total equity method $ 46,618 $ 46,113 $ 4,596 $ 5,131 $ 8,585 Other non-equity method investments 820 699 Total investments and advances $ 47,438 $ 46,812 Total United States $ 11,960 $ 10,985 $ 944 $ 340 $ 975 Total International $ 35,478 $ 35,827 $ 3,652 $ 4,791 $ 7,610
Schedule of Financial Information on a 100 Percent Basis for All Equity Affiliates as well as Chevron's Total Share, which Includes Chevron Loans to Affiliates	The following table provides summarized financial information on a 100 percent basis for all equity affiliates as well as Chevron’s total share, which includes Chevron’s net loans to affiliates of $4,731, $4,494 and $4,278 at December 31, 2024, 2023 and 2022, respectively. Affiliates Chevron Share Year ended December 31 2024 2023 2022 2024 2023 2022 Total revenues $ 46,081 $ 49,306 $ 100,184 $ 21,765 $ 23,217 $ 48,323 Income before income tax expense* 13,127 15,304 23,811 6,088 7,209 10,876 Net income attributable to affiliates 10,253 11,618 19,077 4,802 5,485 8,595 At December 31 Current assets $ 21,697 $ 22,772 $ 26,632 $ 9,323 $ 10,110 $ 11,671 Noncurrent assets 104,396 105,965 101,557 49,435 48,753 46,428 Current liabilities 12,906 14,085 16,319 5,084 6,698 7,708 Noncurrent liabilities 22,651 23,797 22,943 7,278 6,342 5,980 Total affiliates’ net equity $ 90,536 $ 90,855 $ 88,927 $ 46,396 $ 45,823 $ 44,411 * Chevron’s net income attributable to affiliates is recorded in the company’s before-tax consolidated earnings in accordance with U.S. Generally Accepted Accounting Principles. The total income tax expense recorded by the company’s equity affiliates in 2024 was $2,874, with Chevron’s share being $1,286.

Taxes (Tables)

Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Schedule of Taxes on Income	Income Taxes Year ended December 31 2024 2023 2022 Income tax expense (benefit) U.S. federal Current $ 854 $ 895 $ 1,723 Deferred 748 666 2,240 State and local Current 275 211 482 Deferred 10 1 39 Total United States 1,887 1,773 4,484 International Current 7,388 6,745 9,738 Deferred 482 (345) (156) Total International 7,870 6,400 9,582 Total income tax expense (benefit) $ 9,757 $ 8,173 $ 14,066
Schedule of Reconciliation Between the U.S. Statutory Federal Income Tax Rate and the Company's Effective Income Tax Rate	The reconciliation between the U.S. statutory federal income tax rate and the company’s effective income tax rate is detailed in the following table: Year ended December 31 2024 2023 2022 Income (loss) before income taxes United States $ 8,056 $ 8,565 $ 21,005 International 19,450 21,019 28,669 Total income (loss) before income taxes 27,506 29,584 49,674 Theoretical tax (at U.S. statutory rate of 21%) 5,776 6,213 10,432 Equity affiliate accounting effect (845) (1,072) (1,678) Effect of income taxes from international operations 4,742 3,001 5,041 State and local taxes on income, net of U.S. federal income tax benefit 214 252 508 Prior year tax adjustments, claims and settlements 1 (30) (32) (90) Tax credits (28) (20) (6) Other U.S. 1, 2 (72) (169) (141) Total income tax expense (benefit) $ 9,757 $ 8,173 $ 14,066 Effective income tax rate 3 35.5 % 27.6 % 28.3 % 1 Includes one-time tax costs (benefits) associated with changes in uncertain tax positions. 2 Includes one-time tax costs (benefits) associated with changes in valuation allowances (2024 - $(12); 2023 - $(84); 2022 - $(36)). 3 The company’s effective tax rate is reflective of equity income reported on an after-tax basis as part of the “Total Income (Loss) Before Income Tax Expense,” in accordance with U.S. Generally Accepted Accounting Principles. Chevron’s share of its equity affiliates’ total income tax expense in 2024 was $1,286.
Schedule of Composition of Deferred Tax Balances	The reported deferred tax balances are composed of the following: At December 31 2024 2023 Deferred tax liabilities Properties, plant and equipment $ 20,648 $ 20,303 Investments and other 5,254 4,263 Total deferred tax liabilities 25,902 24,566 Deferred tax assets Foreign tax credits (15,261) (13,560) Asset retirement obligations/environmental reserves (4,220) (4,543) Employee benefits (2,050) (1,785) Deferred credits (292) (268) Tax loss carryforwards (3,034) (3,492) Other accrued liabilities (1,137) (1,416) Inventory (68) (126) Operating leases (1,352) (1,479) Miscellaneous (4,180) (3,652) Total deferred tax assets (31,594) (30,321) Deferred tax assets valuation allowance 21,313 20,416 Total deferred income taxes, net $ 15,621 $ 14,661
Schedule of Classification of Deferred Taxes	At December 31, 2024 and 2023, deferred taxes were classified on the Consolidated Balance Sheet as follows: At December 31 2024 2023 Deferred charges and other assets $ (3,516) $ (4,169) Noncurrent deferred income taxes 19,137 18,830 Total deferred income taxes, net $ 15,621 $ 14,661
Schedule of Unrecognized Tax Benefits Roll Forward	The following table indicates the changes to the company’s unrecognized tax benefits for the years ended December 31, 2024, 2023 and 2022. The term “unrecognized tax benefits” in the accounting standards for income taxes refers to the differences between a tax position taken or expected to be taken in a tax return and the benefit measured and recognized in the financial statements. Interest and penalties are not included. 2024 2023 2022 Balance at January 1 $ 5,452 $ 5,323 $ 5,288 Foreign currency effects — (27) (2) Additions based on tax positions taken in current year 236 248 30 Additions for tax positions taken in prior years 101 265 234 Reductions based on tax positions taken in current year (54) (104) — Reductions for tax positions taken in prior years (883) (251) (117) Settlements with taxing authorities in current year — (2) (110) Balance at December 31 $ 4,852 $ 5,452 $ 5,323
Schedule of Taxes Other than on Income	Taxes Other Than on Income Year ended December 31 2024 2023 2022 United States Import duties and other levies $ 8 $ (9) $ 10 Property and other miscellaneous taxes 977 818 609 Payroll taxes 296 286 248 Taxes on production 842 801 989 Total United States 2,123 1,896 1,856 International Import duties and other levies 90 72 63 Property and other miscellaneous taxes 2,283 2,004 1,789 Payroll taxes 125 121 122 Taxes on production 95 127 202 Total International 2,593 2,324 2,176 Total taxes other than on income $ 4,716 $ 4,220 $ 4,032

Properties, Plant and Equipme_2

Properties, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2024
Property, Plant and Equipment [Abstract]
Schedule of Properties, Plant and Equipment	At December 31 Year ended December 31 Gross Investment at Cost Net Investment Additions at Cost 2 Depreciation Expense 3 2024 2023 2022 2024 2023 2022 2024 2023 2022 2024 2023 2022 Upstream United States $ 124,439 $ 117,955 $ 96,590 $ 52,428 $ 50,390 $ 37,031 $ 9,591 $ 20,408 $ 6,461 $ 7,562 $ 7,666 $ 5,012 International 176,401 183,996 188,556 76,642 84,561 88,549 4,426 4,130 2,599 7,935 8,109 9,830 Total Upstream 300,840 301,951 285,146 129,070 134,951 125,580 14,017 24,538 9,060 15,497 15,775 14,842 Downstream United States 32,336 31,192 29,802 13,667 13,521 12,827 1,217 1,623 2,742 1,091 931 913 International 8,331 8,401 8,281 2,946 3,122 3,226 245 237 246 360 301 311 Total Downstream 40,667 39,593 38,083 16,613 16,643 16,053 1,462 1,860 2,988 1,451 1,232 1,224 All Other United States 4,304 4,390 4,402 2,082 1,991 1,931 355 311 230 328 313 247 International 122 147 154 34 34 27 7 15 12 6 6 6 Total All Other 4,426 4,537 4,556 2,116 2,025 1,958 362 326 242 334 319 253 Total United States 161,079 153,537 130,794 68,177 65,902 51,789 11,163 22,342 9,433 8,981 8,910 6,172 Total International 184,854 192,544 196,991 79,622 87,717 91,802 4,678 4,382 2,857 8,301 8,416 10,147 Total $ 345,933 $ 346,081 $ 327,785 $ 147,799 $ 153,619 $ 143,591 $ 15,841 $ 26,724 $ 12,290 $ 17,282 $ 17,326 $ 16,319 1 Other than the United States and Australia, no other country accounted for 10 percent or more of the company’s net properties, plant and equipment (PP&E) in 2024. Australia had PP&E of $38,969, $41,409 and $44,012 in 2024, 2023 and 2022, respectively. Gross Investment at Cost and Additions at Cost for 2023 each include $10,487 associated with the PDC acquisition. 2 Net of dry hole expense related to prior years’ expenditures of $98, $110 and $177 in 2024, 2023 and 2022, respectively. 3 Depreciation expense includes accretion expense of $586, $593 and $560 in 2024, 2023 and 2022, respectively, and impairments and write-offs of $500 , $2,180 and $950 in 2024, 2023 and 2022, respectively.

Short-Term Debt (Tables)

Short-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Short-Term Debt	At December 31 2024 2023 Commercial paper $ 5,386 $ — Notes payable to banks and others with originating terms of one year or less 131 469 Current maturities of long-term debt * 4,012 1,667 Current maturities of long-term finance leases 58 60 Redeemable long-term obligations 3,069 2,876 Subtotal 12,656 5,072 Reclassified to long-term debt (8,250) (4,543) Total short-term debt $ 4,406 $ 529 * Inclusive of unamortized premiums of $0 at December 31, 2024 and $17 at December 31, 2023.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt Outstanding	The company’s long-term debt outstanding at year-end 2024 and 2023 was as follows: At December 31 2024 2023 Weighted Average Interest Rate (%) 1 Range of Interest Rates (%) 2 Principal Principal Notes due 2025 1.724 0.687 - 3.326 4,000 4,000 Notes due 2026 2.954 2,250 2,250 Notes due 2027 2.379 1.018 - 8.000 2,000 2,000 Notes due 2028 3.850 600 600 Notes due 2029 3.250 500 500 Notes due 2030 2.236 1,500 1,500 Debentures due 2031 8.625 102 102 Debentures due 2032 8.416 8.000 - 8.625 183 183 Notes due 2040 2.978 293 293 Notes due 2041 6.000 397 397 Notes due 2043 5.250 330 330 Notes due 2044 5.050 222 222 Notes due 2047 4.950 187 187 Notes due 2049 4.200 237 237 Notes due 2050 2.763 2.343 - 3.078 1,750 1,750 Debentures due 2097 7.250 60 60 Bank loans due 2025 to 2027 3.321 3.306 - 3.367 205 — Medium-term notes, maturing from 2033 to 2038 6.101 4.324 - 7.840 20 20 Notes due 2024 — 1,650 Total including debt due within one year 14,836 16,281 Debt due within one year (4,012) (1,650) Fair market value adjustment for debt acquired in the Noble acquisition 529 578 Reclassified from short-term debt 8,250 4,543 Unamortized discounts and debt issuance costs (14) (19) Finance lease liabilities 3 546 574 Total long-term debt $ 20,135 $ 20,307 1 Weighted-average interest rate at December 31, 2024. 2 Range of interest rates at December 31, 2024. 3 For details on finance lease liabilities, see Note 5 Lease Commitments .

Accounting for Suspended Expl_2

Accounting for Suspended Exploratory Wells (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting for Suspended Exploratory Wells [Abstract]
Schedule of Changes in Company's Suspended Exploratory Well Costs	The following table indicates the changes to the company’s suspended exploratory well costs for the three years ended December 31, 2024: 2024 2023 2022 Beginning balance at January 1 $ 1,648 $ 1,627 $ 2,109 Additions to capitalized exploratory well costs pending the determination of proved reserves 14 88 72 Reclassifications to wells, facilities and equipment based on the determination of proved reserves — — (481) Capitalized exploratory well costs charged to expense — (67) (73) Ending balance at December 31 $ 1,662 $ 1,648 $ 1,627
Schedule of Aging of Capitalized Well Costs and Number of Project	The following table provides an aging of capitalized well costs and the number of projects for which exploratory well costs have been capitalized for a period greater than one year since the completion of drilling: At December 31 2024 2023 2022 Exploratory well costs capitalized for a period of one year or less $ 17 $ 78 $ 73 Exploratory well costs capitalized for a period greater than one year 1,645 1,570 1,554 Balance at December 31 $ 1,662 $ 1,648 $ 1,627 Number of projects with exploratory well costs that have been capitalized for a period greater than one year * 14 13 12 * Certain projects have multiple wells or fields or both.
Schedule of Aging of Costs on Well and Project Basis	The $1,645 of suspended well costs capitalized for a period greater than one year as of December 31, 2024, represents 75 exploratory wells in 14 projects. The tables below contain the aging of these costs on a well and project basis: Aging based on drilling completion date of individual wells: Amount Number of wells 2000-2009 $ 263 14 2010-2014 1,122 49 2015-2023 260 12 Total $ 1,645 75 Aging based on drilling completion date of last suspended well in project: Amount Number of projects 2008-2012 $ 292 2 2013-2016 1,082 6 2017-2024 271 6 Total $ 1,645 14

Stock Options and Other Share_2

Stock Options and Other Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Fair Market Values of Stock Options and Stock Appreciation Rights Granted	The fair market values of stock options and stock appreciation rights granted in 2024, 2023 and 2022 were measured on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions: Year ended December 31 2024 2023 2022 Expected term in years 1 6.5 6.4 6.9 Volatility 2 33.0 % 32.5 % 31.3 % Risk-free interest rate based on zero coupon U.S. treasury note 3.98 % 3.43 % 1.79 % Dividend yield 4.1 % 3.5 % 5.0 % Weighted-average fair value per option granted $ 38.00 $ 45.82 $ 23.56 1 Expected term is based on historical exercise and post-vesting cancellation data. 2 Volatility rate is based on historical stock prices over an appropriate period, generally equal to the expected term.
Schedule of Option Activity	A summary of option activity during 2024 is presented below: Shares (Thousands) Weighted-Average Averaged Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at January 1, 2024 24,375 $ 118.72 Granted 2,730 $ 152.35 Exercised (3,504) $ 101.60 Forfeited (433) $ 260.55 Outstanding at December 31, 2024 23,168 $ 122.62 5.06 $ 687 Exercisable at December 31, 2024 18,372 $ 114.15 4.15 $ 675

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Schedule of Funded Status of Pension and Other Postretirement Benefit Plans	The funded status of the company’s pension and OPEB plans for 2024 and 2023 follows: Pension Benefits 2024 2023 Other Benefits U.S. Int’l. U.S. Int’l. 2024 2023 Change in Benefit Obligation Benefit obligation at January 1 $ 10,392 $ 3,605 $ 9,713 $ 3,354 $ 2,017 $ 1,938 Service cost 357 54 342 58 34 33 Interest cost 465 191 448 193 98 97 Plan participants’ contributions — 2 — 3 54 63 Plan amendments — 18 — 28 30 — Actuarial (gain) loss (382) (274) 603 17 (144) 103 Foreign currency exchange rate changes — (88) — 180 (6) 5 Benefits paid (692) (217) (714) (218) (202) (222) Actual expenses/taxes — (2) — — — — Divestitures/Acquisitions — — — (14) — — Curtailment — — — 2 (1) — Special termination costs — — — 2 — — Benefit obligation at December 31 10,140 3,289 10,392 3,605 1,880 2,017 Change in Plan Assets Fair value of plan assets at January 1 9,137 3,398 7,942 3,286 — — Actual return on plan assets 338 (133) 889 46 — — Foreign currency exchange rate changes — (77) — 181 — — Employer contributions 754 90 1,020 100 148 159 Plan participants’ contributions — 2 — 3 54 63 Benefits paid (692) (217) (714) (218) (202) (222) Actual expenses — (2) — — — — Fair value of plan assets at December 31 9,537 3,061 9,137 3,398 — — Funded status at December 31 $ (603) $ (228) $ (1,255) $ (207) $ (1,880) $ (2,017)
Schedule of Consolidated Balance Sheet for Pension and Other Postretirement Benefit Plans	Amounts recognized on the Consolidated Balance Sheet for the company’s pension and OPEB plans at December 31, 2024 and 2023, include: Pension Benefits 2024 2023 Other Benefits U.S. Int’l. U.S. Int’l. 2024 2023 Deferred charges and other assets $ 607 $ 655 $ 31 $ 703 $ — $ — Accrued liabilities (146) (71) (145) (73) (149) (154) Noncurrent employee benefit plans (1,064) (812) (1,141) (837) (1,731) (1,863) Net amount recognized at December 31 $ (603) $ (228) $ (1,255) $ (207) $ (1,880) $ (2,017)
Schedule of Before Tax Basis Amount in Accumulated Other Comprehensive Loss	Amounts recognized on a before-tax basis in “Accumulated other comprehensive loss” for the company’s pension and OPEB plans were $3,376 and $3,792 at the end of 2024 and 2023, respectively. These amounts consisted of: Pension Benefits 2024 2023 Other Benefits U.S. Int’l. U.S. Int’l. 2024 2023 Net actuarial (gain) loss $ 2,796 $ 849 $ 3,161 $ 823 $ (401) $ (266) Prior service (credits) costs 33 133 37 126 (34) (89) Total recognized at December 31 $ 2,829 $ 982 $ 3,198 $ 949 $ (435) $ (355)
Schedule of Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets	Information for U.S. and international pension plans with an accumulated benefit obligation in excess of plan assets at December 31, 2024 and 2023, was: Pension Benefits 2024 2023 U.S. Int’l. U.S. Int’l. Projected benefit obligations $ 1,214 $ 884 $ 1,203 $ 913 Accumulated benefit obligations 1,145 744 1,108 773 Fair value of plan assets 7 1 — 4
Schedule of Components of Net Periodic Benefit Cost and Amounts Recognized in Other Comprehensive Income	The components of net periodic benefit cost and amounts recognized in the Consolidated Statement of Comprehensive Income for 2024, 2023 and 2022 are shown in the table below: Pension Benefits 2024 2023 2022 Other Benefits U.S. Int’l. U.S. Int’l. U.S. Int’l. 2024 2023 2022 Net Periodic Benefit Cost Service cost $ 357 $ 54 $ 342 $ 58 $ 432 $ 83 $ 34 $ 33 $ 43 Interest cost 465 191 448 193 318 137 98 97 60 Expected return on plan assets (597) (196) (557) (204) (624) (176) — — — Amortization of prior service costs (credits) 4 11 4 8 2 6 (25) (25) (27) Recognized actuarial (gains) losses 243 18 199 8 218 15 (15) (19) 13 Settlement losses (gains) — 1 56 — 363 (6) — — — Curtailment losses (gains) — — — 2 — (5) (1) — — Special termination benefits — — — 2 — — — — — Acquisition/Divestiture losses (gains) — — — (2) — — — — — Total net periodic benefit cost 472 79 492 65 709 54 91 86 89 Changes Recognized in Comprehensive Income Net actuarial (gain) loss during period (122) 45 270 172 (279) (257) (151) 108 (514) Amortization of actuarial (gain) loss (243) (19) (255) (8) (581) (5) 15 19 (13) Prior service (credits) costs during period — 18 — 28 40 38 30 1 18 Amortization of prior service (costs) credits (4) (11) (4) (8) (2) (6) 25 25 27 Total changes recognized in other (369) 33 11 184 (822) (230) (81) 153 (482) Recognized in Net Periodic Benefit Cost and Other Comprehensive Income $ 103 $ 112 $ 503 $ 249 $ (113) $ (176) $ 10 $ 239 $ (393)
Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligations and Net Periodic Benefit Costs	The following weighted-average assumptions were used to determine benefit obligations and net periodic benefit costs for years ended December 31: Pension Benefits 2024 2023 2022 Other Benefits U.S. Int’l. U.S. Int’l. U.S. Int’l. 2024 2023 2022 Assumptions used to determine benefit obligations: Discount rate 5.7 % 6.0 % 5.0 % 5.5 % 5.2 % 5.8 % 5.7 % 5.1 % 5.3 % Rate of compensation increase 4.5 % 3.9 % 4.5 % 3.9 % 4.5 % 4.2 % N/A N/A N/A Assumptions used to determine net periodic benefit cost: Discount rate for service cost 5.0 % 5.5 % 5.2 % 5.8 % 3.6 % 2.8 % 5.2 % 5.4 % 3.1 % Discount rate for interest cost 4.8 % 5.5 % 5.0 % 5.8 % 2.8 % 2.8 % 5.1 % 5.2 % 2.4 % Expected return on plan assets 7.0 % 5.9 % 7.0 % 6.1 % 6.6 % 3.9 % N/A N/A N/A Rate of compensation increase 4.5 % 3.9 % 4.5 % 4.2 % 4.5 % 4.1 % N/A N/A N/A
Schedule of Fair Value Measurements of the Company's Pension Plans	The fair value measurements of the company’s pension plans for 2024 and 2023 are as follows: U.S. Int’l. Total Level 1 Level 2 Level 3 NAV Total Level 1 Level 2 Level 3 NAV At December 31, 2023 Equities U.S. 1 $ 1,691 $ 1,689 $ 1 $ 1 $ — $ 188 $ 188 $ — $ — $ — International 1,128 1,128 — — — 124 124 — — — Collective Trusts/Mutual Funds 2 1,269 4 — — 1,265 95 6 — — 89 Fixed Income Government 82 — 82 — — 172 101 71 — — Corporate 964 — 964 — — 431 4 427 — — Bank Loans 5 — 5 — — — — — — — Mortgage/Asset Backed 1 — 1 — — 5 — 5 — — Collective Trusts/Mutual Funds 2 2,293 — — — 2,293 1,819 — — — 1,819 Mixed Funds 3 — — — — — 85 8 77 — — Real Estate 4 1,087 — — — 1,087 147 — 24 — 123 Alternative Investments — — — — — 9 — 9 — — Cash and Cash Equivalents 548 12 — — 536 81 74 1 — 6 Other 5 69 (2) 14 56 1 242 — 11 81 150 Total at December 31, 2023 $ 9,137 $ 2,831 $ 1,067 $ 57 $ 5,182 $ 3,398 $ 505 $ 625 $ 81 $ 2,187 At December 31, 2024 Equities U.S. 1 $ 1,866 $ 1,866 $ — $ — $ — $ 180 $ 180 $ — $ — $ — International 1,208 1,197 — 11 — 107 97 — 10 — Collective Trusts/Mutual Funds 2 1,191 4 — — 1,187 98 6 13 — 79 Fixed Income Government 132 — 132 — — 167 99 68 — — Corporate 1,042 — 1,042 — — 403 2 401 — — Bank Loans 10 — 10 — — — — — — — Mortgage/Asset Backed 1 — 1 — — 4 — 4 — — Collective Trusts/Mutual Funds 2 2,342 — — — 2,342 1,594 2 10 — 1,582 Mixed Funds 3 — — — — — 76 — 76 — — Real Estate 4 1,383 — — — 1,383 105 — 16 — 89 Alternative Investments — — — — — 9 — 9 — — Cash and Cash Equivalents 289 13 — — 276 108 90 — — 18 Other 5 73 (3) 13 63 — 209 — 12 68 129 Total at December 31, 2024 $ 9,537 $ 3,077 $ 1,198 $ 74 $ 5,188 $ 3,060 $ 476 $ 609 $ 78 $ 1,897 1 There were no investments in the company’s common stock at December 31, 2024 or December 31, 2023. 2 Collective Trusts/Mutual Funds for U.S. plans are entirely index funds; for International plans, they are mostly unit trust and index funds. 3 Mixed funds are composed of funds that invest in both equity and fixed-income instruments in order to diversify and lower risk. 4 The year-end valuations of the U.S. real estate assets are based on third-party appraisals that occur at least once a year for each property in the portfolio. 5 The “Other” asset class includes net payables for securities purchased but not yet settled (Level 1); dividends and interest- and tax-related receivables (Level 2); insurance contracts (Level 3); and investments in private-equity limited partnerships (NAV).
Schedule of The Effect of Fair-Value Measurements Using Significant Unobservable Inputs on Changes in Level 3 Plan Assets for the Period	The effects of fair value measurements using significant unobservable inputs on changes in Level 3 plan assets are outlined below: Equity U.S. Int’l. Real Estate Other Total Total at December 31, 2022 $ — $ — $ 38 $ 139 $ 177 Actual Return on Plan Assets: Assets held at the reporting date 1 — 5 — 6 Assets sold during the period — — — (2) (2) Purchases, Sales and Settlements — — — — — Transfers in and/or out of Level 3 — — (43) — (43) Total at December 31, 2023 $ 1 $ — $ — $ 137 $ 138 Actual Return on Plan Assets: Assets held at the reporting date (1) 11 — — 10 Assets sold during the period — 2 — 9 11 Purchases, Sales and Settlements — 2 — (9) (7) Transfers in and/or out of Level 3 — 6 — (6) — Total at December 31, 2024 $ — $ 21 $ — $ 131 $ 152
Schedule of Benefit Payments, Which Include Estimated Future Service that are Expected to be Paid by The Company in the Next 10 Years	The following benefit payments, which include estimated future service, are expected to be paid by the company in the next 10 years: Pension Benefits Other U.S. Int’l. Benefits 2025 $ 899 $ 205 $ 149 2026 901 213 147 2027 894 221 145 2028 879 226 144 2029 871 231 143 2030-2034 4,251 1,279 709

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	12 Months Ended
	Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Changes to the Company's Before-tax Asset Retirement Obligation	The following table indicates the changes to the company’s before-tax asset retirement obligations in 2024, 2023 and 2022: 2024 2023 2022 Balance at January 1 $ 13,833 $ 12,701 $ 12,808 Liabilities assumed in the PDC acquisition — 220 — Liabilities incurred 83 183 9 Liabilities settled (2,083) (1,471) (1,102) Reduction due to asset sales (171) (94) (179) Accretion expense 588 593 560 Revisions in estimated cash flows 417 1,701 605 Balance at December 31 $ 12,667 $ 13,833 $ 12,701

Other Financial Information (Ta

Other Financial Information (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Financial Information	Other financial information is as follows: Year ended December 31 2024 2023 2022 Total financing interest and debt costs $ 773 $ 617 $ 630 Less: Capitalized interest 179 148 114 Interest and debt expense $ 594 $ 469 $ 516 Research and development expenses $ 353 $ 320 $ 268 Excess of replacement cost over the carrying value of inventories (LIFO method) $ 5,997 $ 6,455 $ 9,061 LIFO profits (losses) on inventory drawdowns included in earnings $ (111) $ 14 $ 122 Foreign currency effects * $ 520 $ (224) $ 669 * Includes $45, $(11) and $253 in 2024, 2023 and 2022, respectively, for the company’s share of equity affiliates’ foreign currency effects.

Acquisition of PDC Energy, In_2

Acquisition of PDC Energy, Inc. (Tables)	12 Months Ended
	Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the fair values assigned to assets acquired and liabilities assumed: At August 7, 2023 Current assets $ 630 Properties, plant and equipment 10,487 Other assets 118 Total assets acquired 11,235 Current liabilities 1,376 Long-term debt 1,473 Deferred income tax 1,397 Other liabilities 469 Total liabilities assumed 4,715 Purchase Price $ 6,520

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of the right-of-use assets recognized when the company is the sole signatory for the lease	100%
Percent of the lease liabilities recognized when the company is the sole signatory for the lease	100%

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 161,929	$ 160,242	$ 139,940
Components of Other Comprehensive Income (Loss):
Other Comprehensive Gain (Loss), Net of Tax	200	(162)	1,091
Ending balance	153,157	161,929	160,242
Income tax expense (benefit)	9,757	8,173	14,066
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2,960)	(2,798)	(3,889)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	0	(401)	729
Reclassifications	200	239	362
Other Comprehensive Gain (Loss), Net of Tax	200	(162)	1,091
Ending balance	(2,760)	(2,960)	(2,798)
Currency Translation Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(192)	(203)	(162)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	(67)	11	(41)
Reclassifications	0	0	0
Other Comprehensive Gain (Loss), Net of Tax	(67)	11	(41)
Ending balance	(259)	(192)	(203)
Unrealized Holding Gains (Losses) on Securities
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(11)	(12)	(11)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	(8)	1	(1)
Reclassifications	0	0	0
Other Comprehensive Gain (Loss), Net of Tax	(8)	1	(1)
Ending balance	(19)	(11)	(12)
Derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	5	(12)	0
Components of Other Comprehensive Income (Loss):
Before Reclassifications	(44)	(16)	68
Reclassifications	25	33	(80)
Other Comprehensive Gain (Loss), Net of Tax	(19)	17	(12)
Ending balance	(14)	5	(12)
Defined Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2,762)	(2,571)	(3,716)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	119	(397)	703
Reclassifications	175	206	442
Other Comprehensive Gain (Loss), Net of Tax	294	(191)	1,145
Ending balance	(2,468)	$ (2,762)	$ (2,571)
Defined Benefit Plans | Reclassification out of Accumulated Other Comprehensive Income
Components of Other Comprehensive Income (Loss):
Reclassification, before tax amount	237
Income tax expense (benefit)	$ 62

Information Relating to the C_3

Information Relating to the Consolidated Statement of Cash Flows - Schedule of Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Distributions more (less) than income from equity affiliates includes the following:
Distributions from equity affiliates	$ 4,230	$ 4,246	$ 3,855
(Income) loss from equity affiliates	(4,596)	(5,131)	(8,585)
Distributions more (less) than income from equity affiliates	(366)	(885)	(4,730)
Net decrease (increase) in operating working capital was composed of the following:
Decrease (increase) in accounts and notes receivable	(932)	1,187	(2,317)
Decrease (increase) in inventories	(574)	(320)	(930)
Decrease (increase) in prepaid expenses and other current assets	(16)	(1,202)	(226)
Increase (decrease) in accounts payable and accrued liabilities	2,569	(49)	2,750
Increase (decrease) in income and other taxes payable	164	(2,801)	2,848
Net decrease (increase) in operating working capital	1,211	(3,185)	2,125
Net cash provided by operating activities includes the following cash payments:
Interest on debt (net of capitalized interest)	587	465	525
Income taxes	8,458	10,416	9,148
Proceeds and deposits related to asset sales and returns of investment consisted of the following gross amounts:
Proceeds and deposits related to asset sales	7,509	446	1,435
Returns of investment from equity affiliates	195	223	1,200
Proceeds and deposits related to asset sales and returns of investment	7,704	669	2,635
Net maturities (investments) of time deposits consisted of the following gross amounts:
Investments in time deposits	(6)	0	0
Maturities of time deposits	2	0	0
Net maturities of (investments in) time deposits	(4)	0	0
Net sales (purchases) of marketable securities consisted of the following gross amounts:
Marketable securities purchased	0	(289)	(7)
Marketable securities sold	45	464	124
Net sales (purchases) of marketable securities	45	175	117
Net repayment (borrowing) of loans by equity affiliates:
Borrowing of loans by equity affiliates	(304)	(368)	(108)
Repayment of loans by equity affiliates	71	66	84
Net repayment (borrowing) of loans by equity affiliates	(233)	(302)	(24)
Net borrowings (repayments) of short-term obligations consisted of the following gross and net amounts:
Repayments of short-term obligations	(840)	0	0
Proceeds from issuances of short-term debt obligations	4,539	0	0
Net borrowings (repayments) of short-term obligations with three months or less maturity	1,169	135	263
Net borrowings (repayments) of short-term obligations	4,868	135	263
Net sales (purchases) of treasury shares consists of the following gross and net amounts:
Shares issued for share-based compensation plans	330	261	5,838
Shares purchased under share repurchase and deferred compensation plans	(15,229)	(14,939)	(11,255)
Share repurchase excise tax payments	(145)	0	0
Net sales (purchases) of treasury shares	(15,044)	(14,678)	(5,417)
Net contributions from (distributions to) noncontrolling interests consisted of the following gross and net amounts:
Distributions to noncontrolling interests	(210)	(54)	(118)
Contributions from noncontrolling interests	15	14	4
Net contributions from (distributions to) noncontrolling interests	(195)	(40)	(114)
Capital expenditures
Additions to properties, plant and equipment	15,544	14,788	10,349
Additions to investments	573	690	1,147
Current-year dry hole expenditures	331	326	309
Payments for other assets and liabilities, net	0	25	169
Capital expenditures	16,448	15,829	11,974
Non-cash additions to properties, plant and equipment	$ 395	$ 1,559	$ 316

Information Relating to the C_4

Information Relating to the Consolidated Statement of Cash Flows - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Non cash transaction in operating segments	$ (500)	$ (2,180)	$ (950)
Severance charges	(715)
Operating Segments | Upstream
Segment Reporting Information [Line Items]
Non cash transaction in operating segments	(400)
Operating Segments | Downstream
Segment Reporting Information [Line Items]
Severance charges	$ (715)

Information Relating to the C_5

Information Relating to the Consolidated Statement of Cash Flows - Schedule of Cash Balances (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 6,781	$ 8,178	$ 17,678
Restricted cash included in “Prepaid expenses and other current assets”	281	275	630
Restricted cash included in “Deferred charges and other assets”	1,200	822	813
Total cash, cash equivalents and restricted cash	$ 8,262	$ 9,275	$ 19,121	$ 6,795

Lease Commitments - Balance She

Lease Commitments - Balance Sheets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
Right-of-use asset	$ 5,315	$ 5,422
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating lease liability, current	$ 1,519	$ 1,538
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Noncurrent deferred income taxes	Noncurrent deferred income taxes
Noncurrent operating lease liabilities	$ 3,551	$ 3,696
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt and Lease Obligation, Including Current Maturities	Long-Term Debt and Lease Obligation, Including Current Maturities
Total operating lease liabilities	$ 5,070	$ 5,234
Weighted-average remaining lease term (in years)	6 years 3 months 18 days	6 years 8 months 12 days
Weighted-average discount rate	3.70%	3.30%
Finance Leases
Right-of-use asset	$ 570	$ 583
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total short-term debt	Total short-term debt
Current lease liabilities	$ 58	$ 60
Noncurrent lease liabilities	546	574
Total lease liabilities	$ 604	$ 634
Weighted-average remaining lease term (in years)	13 years 2 months 12 days	12 years 7 months 6 days
Weighted-average discount rate	4.60%	4.50%
Right-of-use asset obtained in exchange for operating lease liability	$ 2,205	$ 2,556
Right-of-use asset obtained in exchange for finance lease liability	$ 40	$ 233

Lease Commitments - Lease Cost

Lease Commitments - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease costs	$ 3,447	$ 2,984	$ 2,359
Finance lease costs	83	52	57
Total lease costs	$ 3,530	$ 3,036	$ 2,416

Lease Commitments - Cash Paid (

Lease Commitments - Cash Paid (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating cash flows from operating leases	$ 2,468	$ 2,271	$ 1,892
Investing cash flows from operating leases	979	713	467
Operating cash flows from finance leases	26	15	18
Financing cash flows from finance leases	$ 67	$ 42	$ 44

Lease Commitments - ASC 842 (De

Lease Commitments - ASC 842 (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 1,665
2026	1,162
2027	833
2028	555
2029	275
Thereafter	1,276
Total	5,766
Less: Amounts representing interest	696
Total lease liabilities	5,070	$ 5,234
Finance Leases
2025	83
2026	80
2027	73
2028	69
2029	64
Thereafter	445
Total	814
Less: Amounts representing interest	210
Total lease liabilities	$ 604	$ 634

Lease Commitments - Narrative (

Lease Commitments - Narrative (Details) $ in Millions	Dec. 31, 2024 USD ($)
Leases [Abstract]
Future undiscounted cash flows for operating leases not yet commenced	$ 403

Summarized Financial Data - C_3

Summarized Financial Data - Chevron U.S.A. Inc. - Summary of Income Statement Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Subsidiary Statements Captions [Line Items]
Sales and other operating revenues	$ 193,414	$ 196,913	$ 235,717
Total costs and other deductions	175,286	171,365	196,578
Net income (loss) attributable to CUSA	17,661	21,369	35,465
Chevron U.S.A. Inc.
Subsidiary Statements Captions [Line Items]
Sales and other operating revenues	149,925	152,347	183,032
Total costs and other deductions	145,582	144,482	166,955
Net income (loss) attributable to CUSA	$ 4,151	$ 4,598	$ 13,315

Summarized Financial Data - C_4

Summarized Financial Data - Chevron U.S.A. Inc. - Summary of Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsidiary Statements Captions [Line Items]
Current assets	$ 40,911	$ 41,128
Current liabilities	38,558	32,258
Total CUSA net equity	153,157	161,929	$ 160,242	$ 139,940
Chevron U.S.A. Inc.
Subsidiary Statements Captions [Line Items]
Current assets	20,153	19,489
Other assets	58,485	54,460
Current liabilities	25,825	20,624
Other liabilities	21,455	22,227
Total CUSA net equity	31,358	31,098
Memo: Total debt	$ 8,917	$ 9,740

Summarized Financial Data - T_3

Summarized Financial Data - Tengizchevroil LLP - Schedule of Income Statement Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Affiliate Statements Captions [Line Items]
Percentage of affiliate by summarized financial information	100%
Sales and other operating revenues	$ 193,414	$ 196,913	$ 235,717
Net income attributable to TCO	$ 17,749	21,411	35,608
Tengizchevroil
Affiliate Statements Captions [Line Items]
Percentage of affiliate by summarized financial information	100%
Sales and other operating revenues	$ 18,872	19,758	23,975
Costs and other deductions	10,616	10,193	11,956
Net income attributable to TCO	$ 5,779	$ 6,569	$ 8,566
Tengizchevroil
Affiliate Statements Captions [Line Items]
Equity method investment, ownership percentage	50%

Summarized Financial Data - T_4

Summarized Financial Data - Tengizchevroil LLP - Schedule of Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Affiliate Statements Captions [Line Items]
Current assets	$ 40,911	$ 41,128
Current liabilities	38,558	32,258
Total affiliates’ net equity	153,157	161,929	$ 160,242	$ 139,940
Tengizchevroil LLP
Affiliate Statements Captions [Line Items]
Current assets	4,753	3,919
Other assets	58,057	57,454
Current liabilities	3,203	2,372
Other liabilities	12,459	12,782
Total affiliates’ net equity	$ 47,148	$ 46,219

Restructuring and Reorganizat_3

Restructuring and Reorganization Costs - Narrative (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 980
Restructuring Incurred Cost Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag	Operating expenses
Restructuring reserve, current	$ 560	$ 560
Restructuring reserve, long term	430	430
Minimum
Restructuring Cost and Reserve [Line Items]
Structural reduction costs		2,000
Maximum
Restructuring Cost and Reserve [Line Items]
Structural reduction costs		$ 3,000
Operating Segments | United States | Upstream
Restructuring Cost and Reserve [Line Items]
Restructuring charges	240
Operating Segments | United States | Downstream
Restructuring Cost and Reserve [Line Items]
Restructuring charges	247
Operating Segments | International | Upstream
Restructuring Cost and Reserve [Line Items]
Restructuring charges	197
Operating Segments | International | Downstream
Restructuring Cost and Reserve [Line Items]
Restructuring charges	22
Segment Reporting, Reconciling Item
Restructuring Cost and Reserve [Line Items]
Restructuring charges	274
Operating Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	706
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 274

Restructuring and Reorganizat_4

Restructuring and Reorganization Costs - Schedule of Restructuring and Related Costs (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Balance at January 1, 2024	$ 6
Accruals/Adjustments	987
Payments	(3)
Balance at December 31, 2024	$ 990

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 0	$ 45
Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives - not designated	137	152
Derivatives	136	262
Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives - not designated	0	7
Derivatives	17	0
Recurring basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	45
Total assets at fair value	137	204
Total liabilities at fair value	153	262
Recurring basis | Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives - not designated	137	152
Derivatives	136	262
Recurring basis | Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives - not designated	0	7
Derivatives	17	0
Recurring basis | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	45
Total assets at fair value	127	76
Total liabilities at fair value	64	160
Recurring basis | Level 1 | Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives - not designated	127	24
Derivatives	47	160
Recurring basis | Level 1 | Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives - not designated	0	7
Derivatives	17	0
Recurring basis | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Total assets at fair value	10	128
Total liabilities at fair value	89	102
Recurring basis | Level 2 | Not Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives - not designated	10	128
Derivatives	89	102
Recurring basis | Level 2 | Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives - not designated	0	0
Derivatives	0	0
Recurring basis | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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 [Line Items]
Derivatives - not designated	0	0
Derivatives	0	0
Recurring basis | Level 3 | Designated
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives - not designated	0	0
Derivatives	$ 0	$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Assets and Liabilities Measured On a Non-Recurring Basis (Details) - Nonrecurring basis - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Properties, plant and equipment, net (held and used)	$ 324	$ 484
Properties, plant and equipment, net (held for sale)	616	0
Investments and advances	36	207
Total assets at fair value	976	691
Properties, plant and equipment, net (held and used), before-tax loss	226	2,175
Properties, plant and equipment, net (held for sale), before-tax loss	274	5
Investments and advances, before-tax loss	289	352
Total nonrecurring assets at fair value, before-tax loss	789	2,532
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Properties, plant and equipment, net (held and used)	0	0
Properties, plant and equipment, net (held for sale)	0	0
Investments and advances	0	5
Total assets at fair value	0	5
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Properties, plant and equipment, net (held and used)	0	0
Properties, plant and equipment, net (held for sale)	616	0
Investments and advances	36	165
Total assets at fair value	652	165
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Properties, plant and equipment, net (held and used)	324	484
Properties, plant and equipment, net (held for sale)	0	0
Investments and advances	0	37
Total assets at fair value	$ 324	$ 521

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 6,781	$ 8,178	$ 17,678
Carrying/fair value of investments not included in cash and cash equivalents	1,481	1,097
Carrying Amount of Long-term Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amount of long-term debt	10,810	14,612
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amount of long-term debt	$ 9,791	13,709
Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Maturity period of primarily bank time deposits, classified as cash equivalents, maximum	90 days
Nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets at fair value	$ 976	691
Level 3 | Nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets at fair value	324	521
Level 1 | Corporate Bond Securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	9,243
Level 1 | Nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets at fair value	0	5
Level 2 | Other Long-term Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of debt	548
Level 2 | Nonrecurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets at fair value	$ 652	$ 165

Financial and Derivative Inst_3

Financial and Derivative Instruments - Fair Value of Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Total assets at fair value	$ 137	$ 159
Total liabilities at fair value	153	262
Commodity | Accounts and notes receivable
Derivatives, Fair Value [Line Items]
Total assets at fair value	122	151
Commodity | Long-term receivables, net
Derivatives, Fair Value [Line Items]
Total assets at fair value	15	8
Commodity | Accounts payable
Derivatives, Fair Value [Line Items]
Total liabilities at fair value	127	216
Commodity | Deferred credits and other noncurrent obligations
Derivatives, Fair Value [Line Items]
Total liabilities at fair value	$ 26	$ 46

Financial and Derivative Inst_4

Financial and Derivative Instruments - Effect of Derivatives Not Designated On Hedging Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments not designated as hedging instruments, gain (loss), net	$ (23)	$ (505)	$ (867)
Commodity | Sales and other operating revenues
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments not designated as hedging instruments, gain (loss), net	(57)	(304)	(651)
Commodity | Purchased crude oil and products
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments not designated as hedging instruments, gain (loss), net	28	(154)	(226)
Commodity | Other income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments not designated as hedging instruments, gain (loss), net	$ 6	$ (47)	$ 10

Financial and Derivative Inst_5

Financial and Derivative Instruments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Deferred losses in AOCL, before tax	$ 50	$ 11	$ (65)
Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Deferred losses in AOCL, before tax	17
Cash flow hedge loss to be reclassified within 12 months	17
Designated | Commodity
Derivative Instruments, Gain (Loss) [Line Items]
Loss on derivative instruments, net, pretax	$ 25	$ 33

Financial and Derivative Inst_6

Financial and Derivative Instruments - Effect of Netting Derivative Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Not Designated
Offsetting Assets [Abstract]
Derivative assets, gross amounts recognized	$ 1,895	$ 2,394
Derivative assets, gross amounts offset	1,758	2,242
Derivative assets, net amounts presented	137	152
Derivative assets, gross amounts not offset	3	4
Derivative assets, net amounts	134	148
Offsetting Liabilities [Abstract]
Derivative liabilities, gross amounts recognized	1,894	2,504
Derivative liabilities, gross amounts offset	1,758	2,242
Derivative liabilities, net amounts presented	136	262
Derivative liabilities, gross amounts not offset	2	15
Derivative liabilities, net amounts	134	247
Designated
Offsetting Assets [Abstract]
Derivative assets, gross amounts recognized	0	8
Derivative assets, gross amounts offset	0	1
Derivative assets, net amounts presented	0	7
Derivative assets, gross amounts not offset	0	0
Derivative assets, net amounts	0	7
Offsetting Liabilities [Abstract]
Derivative liabilities, gross amounts recognized	17	1
Derivative liabilities, gross amounts offset	0	1
Derivative liabilities, net amounts presented	17	0
Derivative liabilities, gross amounts not offset	0	0
Derivative liabilities, net amounts	$ 17	$ 0

Assets Held for Sale (Details)

Assets Held for Sale (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Assets Held For Sale [Abstract]
Assets held for sale	$ 481	$ 675

Equity (Details)

Equity (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company's share of undistributed earnings for equity affiliates	$ 35,349	$ 34,359
Shares remaining available for issuance (in shares)	559,513
Shares available for issuance (in shares)	1,600,000
Chevron Long-Term Incentive Plan (LTIP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares remaining available for issuance (in shares)	96,000,000
Chevron Long-Term Incentive Plan (LTIP) | From May 2022 through May 2032
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares remaining available for issuance (in shares)	104,000,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Basic EPS Calculation
Earnings available to common stockholders - Basic	$ 17,661	$ 21,369	$ 35,465
Weighted-average number of common shares outstanding (in shares)	1,810	1,873	1,931
Add: Deferred awards held as stock units (in shares)	0	0	0
Total weighted-average number of common shares outstanding (in shares)	1,810	1,873	1,931
Earnings per share of common stock - Basic (in dollars per share)	$ 9.76	$ 11.41	$ 18.36
Diluted EPS Calculation
Earnings available to common stockholders - Diluted	$ 17,661	$ 21,369	$ 35,465
Weighted-average number of common shares outstanding (in shares)	1,810	1,873	1,931
Add: Deferred awards held as stock units (in shares)	0	0	0
Add: Dilutive effect of employee stock-based awards (in shares)	7	7	9
Total weighted-average number of common shares outstanding (in shares)	1,817	1,880	1,940
Earnings per share of common stock - Diluted (in dollars per share)	$ 9.72	$ 11.36	$ 18.28

Operating Segments and Geogra_3

Operating Segments and Geographic Data - Narrative (Details)	12 Months Ended
	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2
Number of operating segments	2

Operating Segments and Geogra_4

Operating Segments and Geographic Data - Segment Sales and Operating Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	$ 193,414	$ 196,913	$ 235,717
Income (loss) from equity affiliates	4,596	5,131	8,585
Other income (loss)	4,782	(1,095)	1,950
Total Revenues and Other Income	202,792	200,949	246,252
Purchased crude oil and products	119,206	119,196	145,416
Operating and SG&A expenses	32,493	29,240	29,321
Depreciation, depletion and amortization	17,282	17,326	16,319
Other costs and deduction	6,305	5,603	5,522
Total Costs and Other Deductions	175,286	171,365	196,578
Income Tax Expense (Benefit)	9,757	8,173	14,066
Less: Net income (loss) attributable to noncontrolling interests	88	42	143
Net income (loss) attributable to CUSA	17,661	21,369	35,465
Reportable Segment, Aggregation before Other Operating Segment
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	193,282	196,780	235,601
All Other
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	132	133	116
Income (loss) from equity affiliates	(4)	(9)	(6)
Other income (loss)	522	182	56
Total Revenues and Other Income	650	306	166
Purchased crude oil and products	0	0	0
Operating and SG&A expenses	2,914	2,034	2,789
Depreciation, depletion and amortization	334	319	253
Other costs and deduction	723	620	632
Total Costs and Other Deductions	3,971	2,973	3,674
Income Tax Expense (Benefit)	(470)	(329)	(462)
Less: Net income (loss) attributable to noncontrolling interests	0	0	0
Net income (loss) attributable to CUSA	(2,668)	(2,206)	(2,974)
Interest income	296	491	261
Interest expense	539	432	476
U.S.
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	8,981	8,910	6,172
U.S. | Upstream
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	14,640	13,808	20,952
U.S. | Downstream
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	70,672	74,774	86,295
Int'l.
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	8,301	8,416	10,147
Int'l. | Upstream
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	32,208	31,934	42,341
Int'l. | Downstream
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	75,762	76,264	86,013
Operating Segments
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	246,232	246,142	287,061
Operating Segments | Reportable Segment, Aggregation before Other Operating Segment
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	245,615	245,545	286,543
Income (loss) from equity affiliates	4,600	5,140	8,591
Other income (loss)	4,260	(1,277)	1,894
Total Revenues and Other Income	202,142	200,643	246,086
Purchased crude oil and products	119,206	119,196	145,416
Operating and SG&A expenses	29,579	27,206	26,532
Depreciation, depletion and amortization	16,948	17,007	16,066
Other costs and deduction	5,582	4,983	4,890
Total Costs and Other Deductions	171,315	168,392	192,904
Income Tax Expense (Benefit)	10,227	8,502	14,528
Less: Net income (loss) attributable to noncontrolling interests	88	42	143
Net income (loss) attributable to CUSA	20,329	23,575	38,439
Operating Segments | Upstream
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	15,497	15,775	14,842
Operating Segments | Downstream
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	1,451	1,232	1,224
Operating Segments | All Other
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	617	597	518
Operating Segments | U.S. | Upstream
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	44,302	40,115	50,822
Income (loss) from equity affiliates	(62)	(387)	(22)
Other income (loss)	346	(2,536)	103
Total Revenues and Other Income	14,924	10,885	21,033
Purchased crude oil and products	13,326	13,019	21,008
Operating and SG&A expenses	7,708	6,879	6,799
Depreciation, depletion and amortization	7,562	7,666	5,012
Other costs and deduction	1,805	1,676	1,699
Total Costs and Other Deductions	30,401	29,240	34,518
Income Tax Expense (Benefit)	2,198	1,141	3,678
Less: Net income (loss) attributable to noncontrolling interests	28	21	17
Net income (loss) attributable to CUSA	7,602	4,148	12,621
Operating Segments | U.S. | Downstream
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	80,417	83,567	91,824
Income (loss) from equity affiliates	1,010	736	1,003
Other income (loss)	358	444	527
Total Revenues and Other Income	72,040	75,954	87,825
Purchased crude oil and products	33,514	37,176	40,483
Operating and SG&A expenses	9,425	8,432	7,829
Depreciation, depletion and amortization	1,091	931	913
Other costs and deduction	550	515	446
Total Costs and Other Deductions	44,580	47,054	49,671
Income Tax Expense (Benefit)	84	1,109	1,515
Less: Net income (loss) attributable to noncontrolling interests	0	0	0
Net income (loss) attributable to CUSA	531	3,904	5,394
Operating Segments | Int'l. | Upstream
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	43,466	43,805	56,156
Income (loss) from equity affiliates	3,642	4,272	6,648
Other income (loss)	3,460	776	1,272
Total Revenues and Other Income	39,310	36,982	50,261
Purchased crude oil and products	9,445	7,270	12,717
Operating and SG&A expenses	6,412	5,837	6,810
Depreciation, depletion and amortization	7,935	8,109	9,830
Other costs and deduction	1,156	1,010	1,230
Total Costs and Other Deductions	24,948	22,226	30,587
Income Tax Expense (Benefit)	7,548	5,733	9,055
Less: Net income (loss) attributable to noncontrolling interests	4	7	34
Net income (loss) attributable to CUSA	11,000	13,290	17,663
Operating Segments | Int'l. | Downstream
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	77,430	78,058	87,741
Income (loss) from equity affiliates	10	519	962
Other income (loss)	96	39	(8)
Total Revenues and Other Income	75,868	76,822	86,967
Purchased crude oil and products	62,921	61,731	71,208
Operating and SG&A expenses	6,034	6,058	5,094
Depreciation, depletion and amortization	360	301	311
Other costs and deduction	2,071	1,782	1,515
Total Costs and Other Deductions	71,386	69,872	78,128
Income Tax Expense (Benefit)	397	519	280
Less: Net income (loss) attributable to noncontrolling interests	56	14	92
Net income (loss) attributable to CUSA	1,196	2,233	2,761
Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	(52,818)	(49,229)	(51,344)
Intersegment Eliminations | Reportable Segment, Aggregation before Other Operating Segment
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	(52,333)	(48,765)	(50,942)
Total Revenues and Other Income	(183)	(132)	(72)
Intersegment Eliminations | All Other
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	(485)	(464)	(402)
Total Revenues and Other Income	183	132	72
Intersegment Eliminations | U.S. | Upstream
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	(29,662)	(26,307)	(29,870)
Total Revenues and Other Income	25,305	23,665	29,801
Intersegment Eliminations | U.S. | Downstream
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	(9,745)	(8,793)	(5,529)
Total Revenues and Other Income	(26,845)	(23,887)	(31,245)
Intersegment Eliminations | Int'l. | Upstream
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	(11,258)	(11,871)	(13,815)
Total Revenues and Other Income	4,190	4,274	7,078
Intersegment Eliminations | Int'l. | Downstream
Segment Reporting Information [Line Items]
Sales and Other Operating Revenues	(1,668)	(1,794)	(1,728)
Total Revenues and Other Income	$ (2,833)	$ (4,184)	$ (5,706)

Operating Segments and Geogra_5

Operating Segments and Geographic Data - Segment Assets (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total Assets	$ 256,938	$ 261,632
Goodwill	4,578	4,722
U.S.
Segment Reporting Information [Line Items]
Total Assets	103,549	102,108
Int'l.
Segment Reporting Information [Line Items]
Total Assets	148,811	154,802
Operating Segments
Segment Reporting Information [Line Items]
Total Assets	245,253	249,293
Operating Segments | Upstream
Segment Reporting Information [Line Items]
Total Assets	188,483	194,805
Goodwill	4,226	4,370
Operating Segments | Upstream | U.S.
Segment Reporting Information [Line Items]
Total Assets	60,914	58,750
Operating Segments | Upstream | Int'l.
Segment Reporting Information [Line Items]
Total Assets	123,343	131,685
Operating Segments | Downstream
Segment Reporting Information [Line Items]
Total Assets	56,770	54,488
Goodwill	352	352
Operating Segments | Downstream | U.S.
Segment Reporting Information [Line Items]
Total Assets	34,253	33,066
Operating Segments | Downstream | Int'l.
Segment Reporting Information [Line Items]
Total Assets	22,165	21,070
Segment Reporting, Reconciling Item
Segment Reporting Information [Line Items]
Total Assets	11,685	12,339
Segment Reporting, Reconciling Item | U.S.
Segment Reporting Information [Line Items]
Total Assets	8,382	10,292
Segment Reporting, Reconciling Item | Int'l.
Segment Reporting Information [Line Items]
Total Assets	$ 3,303	$ 2,047

Investments and Advances - Summ

Investments and Advances - Summary of Investment and Advances and Equity in Earnings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Investments and Advances	$ 46,618	$ 46,113
Other non-equity method investments	820	699
Total investments and advances	47,438	46,812
Equity in Earnings	4,596	5,131	$ 8,585
United States | Investments and Advances
Schedule of Equity Method Investments [Line Items]
Total investments and advances	11,960	10,985
United States | Equity in Earnings
Schedule of Equity Method Investments [Line Items]
Equity in Earnings	944	340	975
International | Investments and Advances
Schedule of Equity Method Investments [Line Items]
Total investments and advances	35,478	35,827
International | Equity in Earnings
Schedule of Equity Method Investments [Line Items]
Equity in Earnings	3,652	4,791	7,610
All Other
Schedule of Equity Method Investments [Line Items]
Investments and Advances	3	(6)
Equity in Earnings	(5)	(9)	(6)
Upstream | Operating Segments
Schedule of Equity Method Investments [Line Items]
Investments and Advances	31,468	31,619
Equity in Earnings	3,580	3,885	6,626
Upstream | Operating Segments | Tengizchevroil
Schedule of Equity Method Investments [Line Items]
Investments and Advances	27,368	26,954
Equity in Earnings	3,033	3,375	4,386
Upstream | Operating Segments | Caspian Pipeline Consortium
Schedule of Equity Method Investments [Line Items]
Investments and Advances	719	797
Equity in Earnings	180	158	128
Upstream | Operating Segments | Angola LNG Limited
Schedule of Equity Method Investments [Line Items]
Investments and Advances	1,665	1,762
Equity in Earnings	405	513	1,857
Upstream | Operating Segments | Other
Schedule of Equity Method Investments [Line Items]
Investments and Advances	1,716	2,106
Equity in Earnings	(38)	(161)	255
Downstream | Operating Segments
Schedule of Equity Method Investments [Line Items]
Investments and Advances	15,147	14,500
Equity in Earnings	1,021	1,255	1,965
Downstream | Operating Segments | Chevron Phillips Chemical Company LLC
Schedule of Equity Method Investments [Line Items]
Investments and Advances	8,571	7,765
Equity in Earnings	903	608	867
Downstream | Operating Segments | GS Caltex Corporation
Schedule of Equity Method Investments [Line Items]
Investments and Advances	4,144	4,309
Equity in Earnings	58	437	874
Downstream | Operating Segments | Other
Schedule of Equity Method Investments [Line Items]
Investments and Advances	2,432	2,426
Equity in Earnings	$ 60	$ 210	$ 224

Investments and Advances - Narr

Investments and Advances - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Sales and other operating revenues	$ 193,414	$ 196,913	$ 235,717
Purchased crude oil and products	119,206	119,196	145,416
Accounts and notes receivable due from affiliated companies	1,258	1,480
Accounts payable due to affiliated companies	$ 556	591
Percentage of affiliate by summarized financial information	100%
Affiliated Entity
Variable Interest Entity [Line Items]
Chevron's loan to affiliates	$ 4,731	4,494	4,278
Sales and other operating revenues	13,850	13,623	16,286
Affiliated Entity | Oil and Gas, Purchased
Variable Interest Entity [Line Items]
Purchased crude oil and products	$ 6,547	$ 7,404	$ 10,171
Tengizchevroil LLP
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	50%
Chevron investment carrying value over underlying equity in TCO's net assets	$ 73
Principal balance	$ 4,500
Caspian Pipeline Consortium
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	15%
Angola LNG Limited
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	36.40%
Chevron Phillips Chemical Company LLC
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	50%
Chevron Phillips Chemical Company LLC | Affiliated Entity
Variable Interest Entity [Line Items]
Chevron's loan to affiliates	$ 669
GS Caltex Corporation
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	50%
Golden Triangle Polymers Project | Chevron Phillips Chemical Company LLC
Variable Interest Entity [Line Items]
Equity method investment, ownership percentage	51%

Investments and Advances - Su_2

Investments and Advances - Summary of Financial Information of All Equity Affiliates (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Total revenues	$ 202,792	$ 200,949	$ 246,252
Income before income tax expense	27,506	29,584	49,674
Net income attributable to TCO	17,749	21,411	35,608
Current assets	40,911	41,128
Current liabilities	38,558	32,258
Total affiliates’ net equity	153,157	161,929	160,242	$ 139,940
Income tax expense (benefit)	9,757	8,173	14,066
Chevron | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Investments [Line Items]
Total revenues	21,765	23,217	48,323
Income before income tax expense	6,088	7,209	10,876
Net income attributable to TCO	4,802	5,485	8,595
Current assets	9,323	10,110	11,671
Noncurrent assets	49,435	48,753	46,428
Current liabilities	5,084	6,698	7,708
Noncurrent liabilities	7,278	6,342	5,980
Total affiliates’ net equity	46,396	45,823	44,411
Income tax expense (benefit)	1,286
Affiliates | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Investments [Line Items]
Total revenues	46,081	49,306	100,184
Income before income tax expense	13,127	15,304	23,811
Net income attributable to TCO	10,253	11,618	19,077
Current assets	21,697	22,772	26,632
Noncurrent assets	104,396	105,965	101,557
Current liabilities	12,906	14,085	16,319
Noncurrent liabilities	22,651	23,797	22,943
Total affiliates’ net equity	90,536	$ 90,855	$ 88,927
Income tax expense (benefit)	$ 2,874

Litigation (Details)

Litigation (Details)	Dec. 31, 2024 tribe lawsuit parish state
Loss Contingencies [Line Items]
Native tribe defendants, number | tribe	2,000,000
Climate Change | Pending Litigation
Loss Contingencies [Line Items]
Pending lawsuits and claims (in number of claims)	32
State defendants, number | state	4,000,000
Coastal Erosion | Pending Litigation
Loss Contingencies [Line Items]
Pending lawsuits and claims (in number of claims)	37
Number of parishes | parish	7,000,000

Taxes - Summary of Components o

Taxes - Summary of Components of Income Tax (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
U.S. federal
Current	$ 854	$ 895	$ 1,723
Deferred	748	666	2,240
State and local
Current	275	211	482
Deferred	10	1	39
Total United States	1,887	1,773	4,484
International
Current	7,388	6,745	9,738
Deferred	482	(345)	(156)
Total International	7,870	6,400	9,582
Total income tax expense (benefit)	$ 9,757	$ 8,173	$ 14,066

Taxes - Effective Income Tax Re

Taxes - Effective Income Tax Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income (loss) before income taxes
United States	$ 8,056	$ 8,565	$ 21,005
International	19,450	21,019	28,669
Income (Loss) Before Income Tax Expense	27,506	29,584	49,674
Effective Income Tax Rate Reconciliation, Amount
Theoretical tax (at U.S. statutory rate of 21%)	5,776	6,213	10,432
Equity affiliate accounting effect	(845)	(1,072)	(1,678)
Effect of income taxes from international operations	4,742	3,001	5,041
State and local taxes on income, net of U.S. federal income tax benefit	214	252	508
Prior year tax adjustments, claims and settlements	(30)	(32)	(90)
Tax credits	(28)	(20)	(6)
Other U.S.	(72)	(169)	(141)
Total income tax expense (benefit)	$ 9,757	$ 8,173	$ 14,066
Effective income tax rate	35.50%	27.60%	28.30%
One-time tax costs (benefits) associated with changes in valuation allowances	$ (12)	$ (84)	$ (36)
Chevron | Equity Method Investment, Nonconsolidated Investee or Group of Investees
Income (loss) before income taxes
Income (Loss) Before Income Tax Expense	6,088	$ 7,209	$ 10,876
Effective Income Tax Rate Reconciliation, Amount
Total income tax expense (benefit)	$ 1,286

Taxes - Narrative (Details)

Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Increase in income tax expense	$ 1,584
Increase in effective tax rate	35.50%	27.60%	28.30%
Increase in deferred tax liabilities		$ 1,336
Increase in deferred tax assets		(1,273)
Increase in valuation allowance	$ 897
Loss carryforward	9,231
Tax credit carryforward	288
Carry forward amount of foreign tax credit with expiration dates	$ 15,261	15,261
Percentage of impact of unrecognized tax benefits on effective tax rate if subsequently recognized	76%
Unrecognized tax benefits	$ 4,852	5,452	$ 5,323	$ 5,288
Decrease in unrecognized tax benefits, percent	68%
Anticipated interest and penalty obligations	$ 268
Accrued benefit for interest and penalties		229
Income tax benefit expense associated with interest and penalties	$ 40	$ 124	$ 152

Taxes - Summary of Deferred Tax

Taxes - Summary of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Deferred tax liabilities
Properties, plant and equipment	$ 20,648	$ 20,303
Investments and other	5,254	4,263
Total deferred tax liabilities	25,902	24,566
Deferred tax assets
Foreign tax credits	(15,261)	(13,560)
Asset retirement obligations/environmental reserves	(4,220)	(4,543)
Employee benefits	(2,050)	(1,785)
Deferred credits	(292)	(268)
Tax loss carryforwards	(3,034)	(3,492)
Other accrued liabilities	(1,137)	(1,416)
Inventory	(68)	(126)
Operating leases	(1,352)	(1,479)
Miscellaneous	(4,180)	(3,652)
Total deferred tax assets	(31,594)	(30,321)
Deferred tax assets valuation allowance	21,313	20,416
Total deferred income taxes, net	15,621	14,661
Classification of deferred taxes
Deferred charges and other assets	(3,516)	(4,169)
Noncurrent deferred income taxes	19,137	18,830
Total deferred income taxes, net	$ 15,621	$ 14,661

Taxes - Summary of Unrecognized

Taxes - Summary of Unrecognized Income Tax Benefits and Taxes Other Than on Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Changes to company's unrecognized tax benefits
Beginning balance	$ 5,452	$ 5,323	$ 5,288
Foreign currency effects	0	(27)	(2)
Additions based on tax positions taken in current year	236	248	30
Additions for tax positions taken in prior years	101	265	234
Reductions based on tax positions taken in current year	(54)	(104)	0
Reductions for tax positions taken in prior years	(883)	(251)	(117)
Settlements with taxing authorities in current year	0	(2)	(110)
Ending balance	$ 4,852	$ 5,452	$ 5,323

Taxes - Schedule of Taxes Other

Taxes - Schedule of Taxes Other than on Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Authority [Line Items]
Total taxes other than on income	$ 4,716	$ 4,220	$ 4,032
United States
Income Tax Authority [Line Items]
Import duties and other levies	8	(9)	10
Property and other miscellaneous taxes	977	818	609
Payroll taxes	296	286	248
Taxes on production	842	801	989
Total taxes other than on income	2,123	1,896	1,856
International
Income Tax Authority [Line Items]
Import duties and other levies	90	72	63
Property and other miscellaneous taxes	2,283	2,004	1,789
Payroll taxes	125	121	122
Taxes on production	95	127	202
Total taxes other than on income	$ 2,593	$ 2,324	$ 2,176

Properties, Plant and Equipme_3

Properties, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Properties, Plant and Equipment
Gross Investment at Cost	$ 345,933	$ 346,081	$ 327,785
Net Investment	147,799	153,619	143,591
Additions at Cost	15,841	26,724	12,290
Depreciation, Depletion and Amortization	17,282	17,326	16,319
Dry hole expense related to prior years expenditures, net	98	110	177
Accretion expense	586	593	560
Impairment charges	500	2,180	950
PDC Energy, Inc.
Properties, Plant and Equipment
Net Investment		10,487
United States
Properties, Plant and Equipment
Gross Investment at Cost	161,079	153,537	130,794
Net Investment	68,177	65,902	51,789
Additions at Cost	11,163	22,342	9,433
Depreciation, Depletion and Amortization	8,981	8,910	6,172
International
Properties, Plant and Equipment
Gross Investment at Cost	184,854	192,544	196,991
Net Investment	79,622	87,717	91,802
Additions at Cost	4,678	4,382	2,857
Depreciation, Depletion and Amortization	8,301	8,416	10,147
Australia
Properties, Plant and Equipment
Net Investment	38,969	41,409	44,012
Operating Segments | Upstream
Properties, Plant and Equipment
Gross Investment at Cost	300,840	301,951	285,146
Net Investment	129,070	134,951	125,580
Additions at Cost	14,017	24,538	9,060
Depreciation, Depletion and Amortization	15,497	15,775	14,842
Impairment charges	400
Operating Segments | Upstream | United States
Properties, Plant and Equipment
Gross Investment at Cost	124,439	117,955	96,590
Net Investment	52,428	50,390	37,031
Additions at Cost	9,591	20,408	6,461
Depreciation, Depletion and Amortization	7,562	7,666	5,012
Operating Segments | Upstream | International
Properties, Plant and Equipment
Gross Investment at Cost	176,401	183,996	188,556
Net Investment	76,642	84,561	88,549
Additions at Cost	4,426	4,130	2,599
Depreciation, Depletion and Amortization	7,935	8,109	9,830
Operating Segments | Downstream
Properties, Plant and Equipment
Gross Investment at Cost	40,667	39,593	38,083
Net Investment	16,613	16,643	16,053
Additions at Cost	1,462	1,860	2,988
Depreciation, Depletion and Amortization	1,451	1,232	1,224
Operating Segments | Downstream | United States
Properties, Plant and Equipment
Gross Investment at Cost	32,336	31,192	29,802
Net Investment	13,667	13,521	12,827
Additions at Cost	1,217	1,623	2,742
Depreciation, Depletion and Amortization	1,091	931	913
Operating Segments | Downstream | International
Properties, Plant and Equipment
Gross Investment at Cost	8,331	8,401	8,281
Net Investment	2,946	3,122	3,226
Additions at Cost	245	237	246
Depreciation, Depletion and Amortization	360	301	311
Segment Reporting, Reconciling Item
Properties, Plant and Equipment
Gross Investment at Cost	4,426	4,537	4,556
Net Investment	2,116	2,025	1,958
Additions at Cost	362	326	242
Depreciation, Depletion and Amortization	334	319	253
Segment Reporting, Reconciling Item | United States
Properties, Plant and Equipment
Gross Investment at Cost	4,304	4,390	4,402
Net Investment	2,082	1,991	1,931
Additions at Cost	355	311	230
Depreciation, Depletion and Amortization	328	313	247
Segment Reporting, Reconciling Item | International
Properties, Plant and Equipment
Gross Investment at Cost	122	147	154
Net Investment	34	34	27
Additions at Cost	7	15	12
Depreciation, Depletion and Amortization	$ 6	$ 6	$ 6

Short-Term Debt - Summary (Deta

Short-Term Debt - Summary (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Short term borrowings
Commercial paper	$ 5,386	$ 0
Notes payable to banks and others with originating terms of one year or less	131	469
Current maturities of long-term debt	4,012	1,667
Current maturities of long-term finance leases	58	60
Redeemable long-term obligations	3,069	2,876
Subtotal	12,656	5,072
Reclassified to long-term debt	(8,250)	(4,543)
Total short-term debt	4,406	529
Debt instrument, unamortized premium	$ 0	$ 17

Short-Term Debt - Narrative (De

Short-Term Debt - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Committed credit facilities	$ 8,250,000,000
Debt instrument, term	364 days
Outstanding amount	$ 0
Reclassified to long-term debt	$ 8,250,000,000	$ 4,543,000,000

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Aug. 07, 2023
Debt Instrument [Line Items]
Total including debt due within one year	$ 14,836	$ 16,281
Debt due within one year	(4,012)	(1,650)
Fair market value adjustment for debt acquired in the Noble acquisition	529	578
Reclassified from short-term debt	8,250	4,543
Unamortized discounts and debt issuance costs	(14)	(19)
Finance lease liabilities	546	574
Total long-term debt	20,135	20,307
Long-term Debt, Fiscal Year Maturity [Abstract]
2025	4,012
2026	2,290
2027	2,153
2028	600
2029	500
Thereafter	$ 5,281
PDC Energy, Inc.
Long-term Debt, Fiscal Year Maturity [Abstract]
Long-term debt			$ 1,473
Notes | Notes due 2025
Debt Instrument [Line Items]
Weighted average interest rate	1.724%
Total including debt due within one year	$ 4,000	4,000
Notes | Notes due 2025 | Minimum
Debt Instrument [Line Items]
Weighted average interest rate	0.687%
Notes | Notes due 2025 | Maximum
Debt Instrument [Line Items]
Weighted average interest rate	3.326%
Notes | Notes due 2026
Debt Instrument [Line Items]
Interest rate	2.954%
Total including debt due within one year	$ 2,250	2,250
Notes | Notes due 2027
Debt Instrument [Line Items]
Weighted average interest rate	2.379%
Total including debt due within one year	$ 2,000	2,000
Notes | Notes due 2027 | Minimum
Debt Instrument [Line Items]
Weighted average interest rate	1.018%
Notes | Notes due 2027 | Maximum
Debt Instrument [Line Items]
Weighted average interest rate	8%
Notes | Notes due 2028
Debt Instrument [Line Items]
Interest rate	3.85%
Total including debt due within one year	$ 600	600
Notes | Notes due 2029
Debt Instrument [Line Items]
Interest rate	3.25%
Total including debt due within one year	$ 500	500
Notes | Notes due 2030
Debt Instrument [Line Items]
Interest rate	2.236%
Total including debt due within one year	$ 1,500	1,500
Notes | Notes due 2040
Debt Instrument [Line Items]
Interest rate	2.978%
Total including debt due within one year	$ 293	293
Notes | Notes due 2041
Debt Instrument [Line Items]
Interest rate	6%
Total including debt due within one year	$ 397	397
Notes | Notes due 2043
Debt Instrument [Line Items]
Interest rate	5.25%
Total including debt due within one year	$ 330	330
Notes | Notes due 2044
Debt Instrument [Line Items]
Interest rate	5.05%
Total including debt due within one year	$ 222	222
Notes | Notes due 2047
Debt Instrument [Line Items]
Interest rate	4.95%
Total including debt due within one year	$ 187	187
Notes | Notes due 2049
Debt Instrument [Line Items]
Interest rate	4.20%
Total including debt due within one year	$ 237	237
Notes | Notes due 2050
Debt Instrument [Line Items]
Weighted average interest rate	2.763%
Total including debt due within one year	$ 1,750	1,750
Notes | Notes due 2050 | Minimum
Debt Instrument [Line Items]
Weighted average interest rate	2.343%
Notes | Notes due 2050 | Maximum
Debt Instrument [Line Items]
Weighted average interest rate	3.078%
Notes | Notes due 2024
Debt Instrument [Line Items]
Total including debt due within one year	$ 0	1,650
Debentures | Debentures due 2031
Debt Instrument [Line Items]
Interest rate	8.625%
Total including debt due within one year	$ 102	102
Debentures | Debentures due 2032
Debt Instrument [Line Items]
Weighted average interest rate	8.416%
Total including debt due within one year	$ 183	183
Debentures | Debentures due 2032 | Minimum
Debt Instrument [Line Items]
Weighted average interest rate	8%
Debentures | Debentures due 2032 | Maximum
Debt Instrument [Line Items]
Weighted average interest rate	8.625%
Debentures | Debentures due 2097
Debt Instrument [Line Items]
Interest rate	7.25%
Total including debt due within one year	$ 60	60
Medium-Term Note | Medium-term notes, maturing from 2033 to 2038
Debt Instrument [Line Items]
Weighted average interest rate	6.101%
Total including debt due within one year	$ 20	20
Medium-Term Note | Medium-term notes, maturing from 2033 to 2038 | Minimum
Debt Instrument [Line Items]
Weighted average interest rate	4.324%
Medium-Term Note | Medium-term notes, maturing from 2033 to 2038 | Maximum
Debt Instrument [Line Items]
Weighted average interest rate	7.84%
Loans | Bank loans due 2025 to 2027
Debt Instrument [Line Items]
Weighted average interest rate	3.321%
Total including debt due within one year	$ 205	$ 0
Loans | Bank loans due 2025 to 2027 | Minimum
Debt Instrument [Line Items]
Weighted average interest rate	3.306%
Loans | Bank loans due 2025 to 2027 | Maximum
Debt Instrument [Line Items]
Weighted average interest rate	3.367%

Accounting for Suspended Expl_3

Accounting for Suspended Exploratory Wells - Summary of Changes and Aging of Capitalized Well Costs (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) project	Dec. 31, 2023 USD ($) project	Dec. 31, 2022 USD ($) project
Changes in company's suspended exploratory well costs
Beginning balance	$ 1,648	$ 1,627	$ 2,109
Additions to capitalized exploratory well costs pending the determination of proved reserves	14	88	72
Reclassifications to wells, facilities and equipment based on the determination of proved reserves	0	0	(481)
Capitalized exploratory well costs charged to expense	0	(67)	(73)
Ending balance	1,662	1,648	1,627
Aging of capitalized well costs and number of project
Exploratory well costs capitalized for a period of one year or less	17	78	73
Exploratory well costs capitalized for a period greater than one year	1,645	1,570	1,554
Capitalized exploratory well costs, total	$ 1,662	$ 1,648	$ 1,627
Number of projects with exploratory well costs that have been capitalized for a period greater than one year (in projects) | project	14	13	12

Accounting for Suspended Expl_4

Accounting for Suspended Exploratory Wells - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) project well	Dec. 31, 2023 USD ($) project	Dec. 31, 2022 USD ($) project
Oil and Gas, Capitalized Exploratory Well Cost, Capitalized for Period Greater than One Year, Aging [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year | $	$ 1,645	$ 1,570	$ 1,554
Number of projects with exploratory well costs that have been capitalized for a period greater than one year (in projects) | project	14	13	12
Expected period for decision on the recognition of proved reserves	5 years
Capitalized exploratory well costs that have been capitalized for period greater than one year, number of wells | well	75
Drilling Activity
Oil and Gas, Capitalized Exploratory Well Cost, Capitalized for Period Greater than One Year, Aging [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year | $	$ 847
Number of projects with exploratory well costs that have been capitalized for a period greater than one year (in projects) | project	7
No Drilling Activity
Oil and Gas, Capitalized Exploratory Well Cost, Capitalized for Period Greater than One Year, Aging [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year | $	$ 798
Number of projects with exploratory well costs that have been capitalized for a period greater than one year (in projects) | project	7
Undergoing Front End Engineering and Design with Final Investment Decision Expected
Oil and Gas, Capitalized Exploratory Well Cost, Capitalized for Period Greater than One Year, Aging [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year | $	$ 383
Number of projects with exploratory well costs that have been capitalized for a period greater than one year (in projects) | project	5
Undergoing front-end engineering and design with final investment decision expected in three years	4 years
Reviewing Development Alternatives
Oil and Gas, Capitalized Exploratory Well Cost, Capitalized for Period Greater than One Year, Aging [Line Items]
Capitalized exploratory well costs that have been capitalized for period greater than one year | $	$ 415
Number of projects with exploratory well costs that have been capitalized for a period greater than one year (in projects) | project	2

Accounting for Suspended Expl_5

Accounting for Suspended Exploratory Wells - Aging of Costs on a Well and Project Basis (Details) $ in Millions	Dec. 31, 2024 USD ($) well project	Dec. 31, 2023 USD ($) project	Dec. 31, 2022 USD ($) project
Oil and Gas, Capitalized Exploratory Well Cost, Capitalized for Period Greater than One Year, Aging [Line Items]
Amount	$ 1,645	$ 1,570	$ 1,554
Number of wells | well	75
Number of projects | project	14	13	12
2000-2009
Oil and Gas, Capitalized Exploratory Well Cost, Capitalized for Period Greater than One Year, Aging [Line Items]
Amount	$ 263
Number of wells | well	14
2010-2014
Oil and Gas, Capitalized Exploratory Well Cost, Capitalized for Period Greater than One Year, Aging [Line Items]
Amount	$ 1,122
Number of wells | well	49
2015-2023
Oil and Gas, Capitalized Exploratory Well Cost, Capitalized for Period Greater than One Year, Aging [Line Items]
Amount	$ 260
Number of wells | well	12
2008-2012
Oil and Gas, Capitalized Exploratory Well Cost, Capitalized for Period Greater than One Year, Aging [Line Items]
Amount	$ 292
Number of projects | project	2
2013-2016
Oil and Gas, Capitalized Exploratory Well Cost, Capitalized for Period Greater than One Year, Aging [Line Items]
Amount	$ 1,082
Number of projects | project	6
2017-2024
Oil and Gas, Capitalized Exploratory Well Cost, Capitalized for Period Greater than One Year, Aging [Line Items]
Amount	$ 271
Number of projects | project	6

Stock Options and Other Share_3

Stock Options and Other Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense for stock options	$ 90	$ 85	$ 60
After tax compensation expense for stock options	68	65	46
Compensation expense for stock appreciation rights restricted stock performance units and restricted stock units	510	(100)	1,013
Compensation expense for stock appreciation rights, restricted stock, performance units and restricted stock units, after tax	388	(76)	770
Cash received in payment for option exercises	356	263	5,835
Tax benefits realized for the tax deductions from option exercises	24	20	216
Cash paid to settle performance units and stock appreciation rights	$ 395	566	556
Maximum number of share that may be issued under LTIP (in shares)	559,513
Total intrinsic value options exercised	$ 190	$ 167	$ 2,369
Total before-tax compensation cost related to nonvested share-based compensation arrangements	$ 320
Weighted-average period of recognition of unrecognized compensation cost related to nonvested share-based compensation arrangements	1 year 10 months 24 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	5,399,798			5,060,242
Shares granted (in shares)	1,813,119
Shares vested (in shares)	1,340,664
Shares forfeited (in shares)	132,899
Shares vested, fair value	$ 387
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	3,859,439			4,419,310
Shares granted (in shares)	1,525,452
Shares vested (in shares)	1,966,923
Shares forfeited (in shares)	118,400
Shares vested, fair value	$ 307
Performance Shares Payable In Cash
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	2,815,575
Performance Shares In Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	1,043,864
Restricted Stock Units Payable In Cash
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	3,346,557
Restricted Stock Units Payable In Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	2,053,241
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	535,122
Shares vested, fair value	$ 23
Chevron Long-Term Incentive Plan (LTIP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of share that may be issued under LTIP (in shares)	96,000,000
Maximum number of shares that may not be a stock option, stock appreciation right or award (in shares)	48,000,000
Chevron Long-Term Incentive Plan (LTIP) | From May 2022 through May 2032
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of share that may be issued under LTIP (in shares)	104,000,000
Chevron Long-Term Incentive Plan (LTIP), 2017 Issuance | Performance Shares and Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award contractual term (in years)	3 years
Chevron Long-Term Incentive Plan (LTIP), 2017 Issuance | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award contractual term (in years)	5 years
Chevron Long-Term Incentive Plan (LTIP), 2017 Issuance | Stock Options and Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award contractual term (in years)	10 years
Chevron Long-Term Incentive Plan (LTIP), 2023 Issuance | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years

Stock Options and Other Share_4

Stock Options and Other Share-Based Compensation - Summary of Valuation Assumptions and Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Stock Option
Expected term in years	6 years 6 months	6 years 4 months 24 days	6 years 10 months 24 days
Volatility	33%	32.50%	31.30%
Risk-free interest rate based on zero coupon U.S. treasury note	3.98%	3.43%	1.79%
Dividend yield	4.10%	3.50%	5%
Weighted-average fair value per option granted (in dollars per share)	$ 38	$ 45.82	$ 23.56
Shares
Outstanding at January 1 (in shares)	24,375
Granted (in shares)	2,730
Exercised (in shares)	(3,504)
Forfeited (in shares)	(433)
Outstanding at December 31 (in shares)	23,168	24,375
Exercisable at December 31 (in shares)	18,372
Weighted-Average Exercise Price
Outstanding at January 1 (in dollars per share)	$ 118.72
Granted (in dollars per share)	152.35
Exercised (in dollars per share)	101.60
Forfeited (in dollars per share)	260.55
Outstanding at December 31 (in dollars per share)	122.62	$ 118.72
Exercisable at December 31 (in dollars per share)	$ 114.15
Average Remaining Contractual Term, Outstanding at December 31 (in years)	5 years 21 days
Average Remaining Contractual Term, Exercisable at December 31 (in years)	4 years 1 month 24 days
Aggregate Intrinsic Value, Outstanding at December 31	$ 687
Aggregate Intrinsic Value, Exercisable at December 31	$ 675

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Maximum annual increase percentage to company contribution for retiree medical coverage	4%
Other Benefit Assumptions:
Assumed health care cost-trend rates in the next fiscal year	8.40%	8.40%
Ultimate trend rate for health care cost	4.50%	4.50%
Primary Investment:
Company's US and UK pension plans as a percentage of total pension assets	95%
Benefit Plan Trusts:
Number of Chevron treasury stocks held in benefit plan trust for funding obligations	14,168,000	14,168,000	14,168,000	14,168,000
Employee Incentive Plan
Charges to expense for cash bonuses	$ 965	$ 809	$ 1,169
Other Benefits
Discount Rate:
Discount rate for pension plans	5.70%	5.10%	5.30%
Cash Contributions and Benefit Payments:
Contributions to employee pension plans	$ 148	$ 159
Estimated contributions to employee pension plans for the next fiscal year	150
ESIP
Employee Savings Investment Plan:
Compensation expense	$ 330	320	$ 283
U.S.
Expected Return on Plan Assets:
Estimated long-term rate of return on US pension plan assets	7%
Cash Contributions and Benefit Payments:
Contributions to employee pension plans	$ 754
Estimated contributions to employee pension plans for the next fiscal year	750
U.S. | Pension Benefits
Funded Status:
Accumulated benefit obligations pension plans	$ 9,053	$ 9,284
Expected Return on Plan Assets:
Estimated long-term rate of return on US pension plan assets	7%	7%	6.60%
Percentage of US pension plan assets relative to total pension plan assets	73%
Plan asset market valuation period, prior to year-end measurement date	3 months
Discount Rate:
Discount rate for pension plans	5.70%	5%	5.20%
Cash Contributions and Benefit Payments:
Contributions to employee pension plans	$ 754	$ 1,020
U.S. | Pension Benefits | Equities | Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	30%
U.S. | Pension Benefits | Equities | Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	60%
U.S. | Pension Benefits | Fixed Income and Cash | Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	30%
U.S. | Pension Benefits | Fixed Income and Cash | Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	50%
U.S. | Pension Benefits | Real Estate | Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	5%
U.S. | Pension Benefits | Real Estate | Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	25%
U.S. | Pension Benefits | Other | Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	0%
U.S. | Pension Benefits | Other | Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	5%
U.S. | Pension Benefits | Cash | Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	0%
U.S. | Pension Benefits | Cash | Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	15%
U.S. | Other Benefits
Discount Rate:
Discount rate for pension plans	5.60%	5%	5.20%
Int’l.
Cash Contributions and Benefit Payments:
Contributions to employee pension plans	$ 90
Estimated contributions to employee pension plans for the next fiscal year	100
Int’l. | Pension Benefits
Funded Status:
Accumulated benefit obligations pension plans	$ 3,066	$ 3,378
Expected Return on Plan Assets:
Estimated long-term rate of return on US pension plan assets	5.90%	6.10%	3.90%
Discount Rate:
Discount rate for pension plans	6%	5.50%	5.80%
Cash Contributions and Benefit Payments:
Contributions to employee pension plans	$ 90	$ 100
UNITED KINGDOM | Pension Benefits | Equities | Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	5%
UNITED KINGDOM | Pension Benefits | Equities | Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	15%
UNITED KINGDOM | Pension Benefits | Fixed Income and Cash | Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	63%
UNITED KINGDOM | Pension Benefits | Fixed Income and Cash | Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	93%
UNITED KINGDOM | Pension Benefits | Real Estate | Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	5%
UNITED KINGDOM | Pension Benefits | Real Estate | Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	15%
UNITED KINGDOM | Pension Benefits | Cash | Minimum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	0%
UNITED KINGDOM | Pension Benefits | Cash | Maximum
Primary Investment:
Pension Plan - Board of Trustees approved asset allocation	7%

Employee Benefit Plans - Summar

Employee Benefit Plans - Summary of Change in Benefit Obligation and Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
U.S.
Change in Plan Assets
Beginning balance	$ 9,137
Employer contributions	754
Ending balance	9,537	$ 9,137
Int’l.
Change in Plan Assets
Beginning balance	3,398
Employer contributions	90
Ending balance	3,060	3,398
Pension Benefits | U.S.
Change in Benefit Obligation
Beginning balance	10,392	9,713
Service cost	357	342	$ 432
Interest cost	465	448	318
Plan participants’ contributions	0	0
Plan amendments	0	0
Actuarial (gain) loss	(382)	603
Foreign currency exchange rate changes	0	0
Benefits paid	(692)	(714)
Actual expenses/taxes	0	0
Divestitures/Acquisitions	0	0
Curtailment	0	0
Special termination costs	0	0
Ending balance	10,140	10,392	9,713
Change in Plan Assets
Beginning balance	9,137	7,942
Actual return on plan assets	338	889
Foreign currency exchange rate changes	0	0
Employer contributions	754	1,020
Plan participants’ contributions	0	0
Benefits paid	(692)	(714)
Actual expenses	0	0
Ending balance	9,537	9,137	7,942
Funded status	(603)	(1,255)
Pension Benefits | Int’l.
Change in Benefit Obligation
Beginning balance	3,605	3,354
Service cost	54	58	83
Interest cost	191	193	137
Plan participants’ contributions	2	3
Plan amendments	18	28
Actuarial (gain) loss	(274)	17
Foreign currency exchange rate changes	(88)	180
Benefits paid	(217)	(218)
Actual expenses/taxes	(2)	0
Divestitures/Acquisitions	0	(14)
Curtailment	0	2
Special termination costs	0	2
Ending balance	3,289	3,605	3,354
Change in Plan Assets
Beginning balance	3,398	3,286
Actual return on plan assets	(133)	46
Foreign currency exchange rate changes	(77)	181
Employer contributions	90	100
Plan participants’ contributions	2	3
Benefits paid	(217)	(218)
Actual expenses	(2)	0
Ending balance	3,061	3,398	3,286
Funded status	(228)	(207)
Other Benefits
Change in Benefit Obligation
Beginning balance	2,017	1,938
Service cost	34	33	43
Interest cost	98	97	60
Plan participants’ contributions	54	63
Plan amendments	30	0
Actuarial (gain) loss	(144)	103
Foreign currency exchange rate changes	(6)	5
Benefits paid	(202)	(222)
Actual expenses/taxes	0	0
Divestitures/Acquisitions	0	0
Curtailment	(1)	0
Special termination costs	0	0
Ending balance	1,880	2,017	1,938
Change in Plan Assets
Beginning balance	0	0
Actual return on plan assets	0	0
Foreign currency exchange rate changes	0	0
Employer contributions	148	159
Plan participants’ contributions	54	63
Benefits paid	(202)	(222)
Actual expenses	0	0
Ending balance	0	0	$ 0
Funded status	$ (1,880)	$ (2,017)

Employee Benefit Plans - Summ_2

Employee Benefit Plans - Summary of Balance Sheet Components (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Consolidated Balance Sheet for pension and other postretirement benefit plans
Noncurrent employee benefit plans	$ (3,857)	$ (4,082)
Pension Benefits | U.S.
Consolidated Balance Sheet for pension and other postretirement benefit plans
Deferred charges and other assets	607	31
Accrued liabilities	(146)	(145)
Noncurrent employee benefit plans	(1,064)	(1,141)
Net amount recognized at December 31	(603)	(1,255)
Pension Benefits | Int’l.
Consolidated Balance Sheet for pension and other postretirement benefit plans
Deferred charges and other assets	655	703
Accrued liabilities	(71)	(73)
Noncurrent employee benefit plans	(812)	(837)
Net amount recognized at December 31	(228)	(207)
Other Benefits
Consolidated Balance Sheet for pension and other postretirement benefit plans
Deferred charges and other assets	0	0
Accrued liabilities	(149)	(154)
Noncurrent employee benefit plans	(1,731)	(1,863)
Net amount recognized at December 31	$ (1,880)	$ (2,017)

Employee Benefit Plans - Amount

Employee Benefit Plans - Amounts Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Before tax basis amount in accumulated other comprehensive loss.
Total recognized	$ 3,376	$ 3,792
Other Benefits
Before tax basis amount in accumulated other comprehensive loss.
Net actuarial (gain) loss	(401)	(266)
Prior service (credits) costs	(34)	(89)
Total recognized	(435)	(355)
U.S. | Pension Benefits
Before tax basis amount in accumulated other comprehensive loss.
Net actuarial (gain) loss	2,796	3,161
Prior service (credits) costs	33	37
Total recognized	2,829	3,198
Int’l. | Pension Benefits
Before tax basis amount in accumulated other comprehensive loss.
Net actuarial (gain) loss	849	823
Prior service (credits) costs	133	126
Total recognized	$ 982	$ 949

Employee Benefit Plans - Accumu

Employee Benefit Plans - Accumulated Benefit Obligation in Excess of Plan Assets (Details) - Pension Benefits - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
U.S.
Pension Plans With Accumulated Benefit Obligation in Excess of Plan Assets
Projected benefit obligations	$ 1,214	$ 1,203
Accumulated benefit obligations	1,145	1,108
Fair value of plan assets	7	0
Int’l.
Pension Plans With Accumulated Benefit Obligation in Excess of Plan Assets
Projected benefit obligations	884	913
Accumulated benefit obligations	744	773
Fair value of plan assets	$ 1	$ 4

Employee Benefit Plans - Net Pe

Employee Benefit Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Changes Recognized in Comprehensive Income
Net actuarial (gain) loss during period	$ (228)	$ 550	$ (1,050)
Amortization of actuarial (gain) loss	(247)	(244)	(599)
Prior service (credits) costs during period	48	29	96
Amortization of prior service (costs) credits	10	13	19
Other Benefits
Net Periodic Benefit Cost
Service cost	34	33	43
Interest cost	98	97	60
Expected return on plan assets	0	0	0
Amortization of prior service costs (credits)	(25)	(25)	(27)
Recognized actuarial (gains) losses	(15)	(19)	13
Settlement losses (gains)	0	0	0
Curtailment losses (gains)	(1)	0	0
Special termination benefits	0	0	0
Acquisition/Divestiture losses (gains)	0	0	0
Total net periodic benefit cost	91	86	89
Changes Recognized in Comprehensive Income
Net actuarial (gain) loss during period	(151)	108	(514)
Amortization of actuarial (gain) loss	15	19	(13)
Prior service (credits) costs during period	30	1	18
Amortization of prior service (costs) credits	25	25	27
Total changes recognized in other comprehensive income	(81)	153	(482)
Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	10	239	(393)
U.S. | Pension Benefits
Net Periodic Benefit Cost
Service cost	357	342	432
Interest cost	465	448	318
Expected return on plan assets	(597)	(557)	(624)
Amortization of prior service costs (credits)	4	4	2
Recognized actuarial (gains) losses	243	199	218
Settlement losses (gains)	0	56	363
Curtailment losses (gains)	0	0	0
Special termination benefits	0	0	0
Acquisition/Divestiture losses (gains)	0	0	0
Total net periodic benefit cost	472	492	709
Changes Recognized in Comprehensive Income
Net actuarial (gain) loss during period	(122)	270	(279)
Amortization of actuarial (gain) loss	(243)	(255)	(581)
Prior service (credits) costs during period	0	0	40
Amortization of prior service (costs) credits	(4)	(4)	(2)
Total changes recognized in other comprehensive income	(369)	11	(822)
Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	103	503	(113)
Int’l. | Pension Benefits
Net Periodic Benefit Cost
Service cost	54	58	83
Interest cost	191	193	137
Expected return on plan assets	(196)	(204)	(176)
Amortization of prior service costs (credits)	11	8	6
Recognized actuarial (gains) losses	18	8	15
Settlement losses (gains)	1	0	(6)
Curtailment losses (gains)	0	2	(5)
Special termination benefits	0	2	0
Acquisition/Divestiture losses (gains)	0	(2)	0
Total net periodic benefit cost	79	65	54
Changes Recognized in Comprehensive Income
Net actuarial (gain) loss during period	45	172	(257)
Amortization of actuarial (gain) loss	(19)	(8)	(5)
Prior service (credits) costs during period	18	28	38
Amortization of prior service (costs) credits	(11)	(8)	(6)
Total changes recognized in other comprehensive income	33	184	(230)
Recognized in Net Periodic Benefit Cost and Other Comprehensive Income	$ 112	$ 249	$ (176)

Employee Benefit Plans - Assump

Employee Benefit Plans - Assumptions (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Benefits
Assumptions used to determine benefit obligations:
Discount rate	5.70%	5.10%	5.30%
Assumptions used to determine net periodic benefit cost:
Discount rate for service cost	5.20%	5.40%	3.10%
Discount rate for interest cost	5.10%	5.20%	2.40%
U.S.
Assumptions used to determine net periodic benefit cost:
Expected return on plan assets	7%
U.S. | Pension Benefits
Assumptions used to determine benefit obligations:
Discount rate	5.70%	5%	5.20%
Rate of compensation increase	4.50%	4.50%	4.50%
Assumptions used to determine net periodic benefit cost:
Discount rate for service cost	5%	5.20%	3.60%
Discount rate for interest cost	4.80%	5%	2.80%
Expected return on plan assets	7%	7%	6.60%
Rate of compensation increase	4.50%	4.50%	4.50%
U.S. | Other Benefits
Assumptions used to determine benefit obligations:
Discount rate	5.60%	5%	5.20%
Int’l. | Pension Benefits
Assumptions used to determine benefit obligations:
Discount rate	6%	5.50%	5.80%
Rate of compensation increase	3.90%	3.90%	4.20%
Assumptions used to determine net periodic benefit cost:
Discount rate for service cost	5.50%	5.80%	2.80%
Discount rate for interest cost	5.50%	5.80%	2.80%
Expected return on plan assets	5.90%	6.10%	3.90%
Rate of compensation increase	3.90%	4.20%	4.10%

Employee Benefit Plans - Plan A

Employee Benefit Plans - Plan Assets (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	$ 152,000,000	$ 138,000,000	$ 177,000,000
U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	9,537,000,000	9,137,000,000
U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	3,077,000,000	2,831,000,000
U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,198,000,000	1,067,000,000
U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	74,000,000	57,000,000
U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	5,188,000,000	5,182,000,000
Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	3,060,000,000	3,398,000,000
Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	476,000,000	505,000,000
Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	609,000,000	625,000,000
Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	78,000,000	81,000,000
Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,897,000,000	2,187,000,000
U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	1,000,000	0
U.S. | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,866,000,000	1,691,000,000
U.S. | U.S. | Company's Own Stock
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
U.S. | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,866,000,000	1,689,000,000
U.S. | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	1,000,000
U.S. | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	1,000,000
U.S. | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
U.S. | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	180,000,000	188,000,000
U.S. | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	180,000,000	188,000,000
U.S. | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
U.S. | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
U.S. | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
International | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	21,000,000	0	0
International | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,208,000,000	1,128,000,000
International | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,197,000,000	1,128,000,000
International | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
International | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	11,000,000	0
International | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
International | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	107,000,000	124,000,000
International | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	97,000,000	124,000,000
International | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
International | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	10,000,000	0
International | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,191,000,000	1,269,000,000
Collective Trusts/Mutual Funds | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	4,000,000	4,000,000
Collective Trusts/Mutual Funds | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,187,000,000	1,265,000,000
Collective Trusts/Mutual Funds | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	98,000,000	95,000,000
Collective Trusts/Mutual Funds | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	6,000,000	6,000,000
Collective Trusts/Mutual Funds | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	13,000,000	0
Collective Trusts/Mutual Funds | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	79,000,000	89,000,000
Government | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	132,000,000	82,000,000
Government | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Government | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	132,000,000	82,000,000
Government | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Government | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Government | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	167,000,000	172,000,000
Government | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	99,000,000	101,000,000
Government | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	68,000,000	71,000,000
Government | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Government | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Corporate | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,042,000,000	964,000,000
Corporate | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Corporate | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,042,000,000	964,000,000
Corporate | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Corporate | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Corporate | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	403,000,000	431,000,000
Corporate | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	2,000,000	4,000,000
Corporate | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	401,000,000	427,000,000
Corporate | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Corporate | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	10,000,000	5,000,000
Bank Loans | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	10,000,000	5,000,000
Bank Loans | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Bank Loans | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mortgage/Asset Backed | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,000,000	1,000,000
Mortgage/Asset Backed | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mortgage/Asset Backed | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,000,000	1,000,000
Mortgage/Asset Backed | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mortgage/Asset Backed | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mortgage/Asset Backed | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	4,000,000	5,000,000
Mortgage/Asset Backed | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mortgage/Asset Backed | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	4,000,000	5,000,000
Mortgage/Asset Backed | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mortgage/Asset Backed | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	2,342,000,000	2,293,000,000
Collective Trusts/Mutual Funds | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	2,342,000,000	2,293,000,000
Collective Trusts/Mutual Funds | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,594,000,000	1,819,000,000
Collective Trusts/Mutual Funds | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	2,000,000	0
Collective Trusts/Mutual Funds | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	10,000,000	0
Collective Trusts/Mutual Funds | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Collective Trusts/Mutual Funds | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,582,000,000	1,819,000,000
Mixed Funds | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mixed Funds | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mixed Funds | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mixed Funds | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mixed Funds | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mixed Funds | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	76,000,000	85,000,000
Mixed Funds | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	8,000,000
Mixed Funds | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	76,000,000	77,000,000
Mixed Funds | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Mixed Funds | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Real Estate | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0	38,000,000
Real Estate | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,383,000,000	1,087,000,000
Real Estate | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Real Estate | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Real Estate | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Real Estate | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	1,383,000,000	1,087,000,000
Real Estate | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	105,000,000	147,000,000
Real Estate | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Real Estate | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	16,000,000	24,000,000
Real Estate | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Real Estate | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	89,000,000	123,000,000
Alternative Investments | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	9,000,000	9,000,000
Alternative Investments | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	9,000,000	9,000,000
Alternative Investments | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Alternative Investments | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Cash and Cash Equivalents | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	289,000,000	548,000,000
Cash and Cash Equivalents | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	13,000,000	12,000,000
Cash and Cash Equivalents | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Cash and Cash Equivalents | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Cash and Cash Equivalents | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	276,000,000	536,000,000
Cash and Cash Equivalents | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	108,000,000	81,000,000
Cash and Cash Equivalents | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	90,000,000	74,000,000
Cash and Cash Equivalents | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	1,000,000
Cash and Cash Equivalents | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Cash and Cash Equivalents | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	18,000,000	6,000,000
Other | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	131,000,000	137,000,000	$ 139,000,000
Other | U.S.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	73,000,000	69,000,000
Other | U.S. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	(3,000,000)	(2,000,000)
Other | U.S. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	13,000,000	14,000,000
Other | U.S. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	63,000,000	56,000,000
Other | U.S. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	1,000,000
Other | Int’l.
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	209,000,000	242,000,000
Other | Int’l. | Level 1
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	0	0
Other | Int’l. | Level 2
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	12,000,000	11,000,000
Other | Int’l. | Level 3
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	68,000,000	81,000,000
Other | Int’l. | NAV
Fair Value Measurements of Company's Pension Plans
Fair value of plan assets	$ 129,000,000	$ 150,000,000

Employee Benefit Plans - Summ_3

Employee Benefit Plans - Summary of Change in Assets Measured at Level 3 (Details) - Level 3 - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period are outlined below
Beginning balance	$ 138	$ 177
Actual Return on Plan Assets:
Assets held at the reporting date	10	6
Assets sold during the period	11	(2)
Purchases, Sales and Settlements	(7)	0
Transfers in and/or out of Level 3	0	(43)
Ending balance	152	138
U.S.
The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period are outlined below
Beginning balance	1	0
Actual Return on Plan Assets:
Assets held at the reporting date	(1)	1
Assets sold during the period	0	0
Purchases, Sales and Settlements	0	0
Transfers in and/or out of Level 3	0	0
Ending balance	0	1
International
The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period are outlined below
Beginning balance	0	0
Actual Return on Plan Assets:
Assets held at the reporting date	11	0
Assets sold during the period	2	0
Purchases, Sales and Settlements	2	0
Transfers in and/or out of Level 3	6	0
Ending balance	21	0
Real Estate
The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period are outlined below
Beginning balance	0	38
Actual Return on Plan Assets:
Assets held at the reporting date	0	5
Assets sold during the period	0	0
Purchases, Sales and Settlements	0	0
Transfers in and/or out of Level 3	0	(43)
Ending balance	0	0
Other
The effect of fair-value measurements using significant unobservable inputs on changes in Level 3 plan assets for the period are outlined below
Beginning balance	137	139
Actual Return on Plan Assets:
Assets held at the reporting date	0	0
Assets sold during the period	9	(2)
Purchases, Sales and Settlements	(9)	0
Transfers in and/or out of Level 3	(6)	0
Ending balance	$ 131	$ 137

Employee Benefit Plans - Expect

Employee Benefit Plans - Expected Benefit Payments (Details) $ in Millions	Dec. 31, 2024 USD ($)
Other Benefits
Benefit payments, which include estimated future service, are expected to be paid by the company in the next 10years
2025	$ 149
2026	147
2027	145
2028	144
2029	143
2030-2034	709
U.S. | Pension Benefits
Benefit payments, which include estimated future service, are expected to be paid by the company in the next 10years
2025	899
2026	901
2027	894
2028	879
2029	871
2030-2034	4,251
Int’l. | Pension Benefits
Benefit payments, which include estimated future service, are expected to be paid by the company in the next 10years
2025	205
2026	213
2027	221
2028	226
2029	231
2030-2034	$ 1,279

Other Contingencies and Commi_2

Other Contingencies and Commitments (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) guarantee	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Guarantees
Number of guarantees | guarantee	1
Guarantee for payments under terminal use agreements	$ 98
Term of guarantee for payments under terminal use agreement (in years)	3 years
Long-Term Unconditional Purchase Obligations and Commitments, Including Throughput and Take-or-Pay Agreements
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in year one	$ 1,039
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in year two	1,129
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in year three	1,304
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in year four	1,326
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in year five	1,236
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements after year five	6,882
Total payments under long term unconditional purchase obligations and commitments including throughput and Take-or-Pay agreements	$ 1,354	$ 1,420	$ 1,866
Environmental
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current, Deferred credits and other noncurrent obligations
Environmental reserve balance	$ 945
Liability balance	2,478	$ 2,708
Contingency expenses	235
Upstream
Environmental
Environmental reserve	236
United States | Downstream
Environmental
Environmental reserve	440
International | Downstream
Environmental
Environmental reserve	49
Other Obligations
Long-Term Unconditional Purchase Obligations and Commitments, Including Throughput and Take-or-Pay Agreements
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in year one	436
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in year two	653
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in year three	477
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in year four	380
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements in year five	186
Long term unconditional purchase obligations and commitments, including throughout and take or pay agreements after year five	907
Sites with Potential Remediation Activities
Environmental
Environmental reserve	220
Environmental Reserve Less Environmental Reserve for Sites with Potential Remediation Activities
Environmental
Environmental reserve	$ 725

Asset Retirement Obligations (D

Asset Retirement Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Company Before Tax Obligation
Beginning balance	$ 13,833	$ 12,701	$ 12,808
Liabilities assumed in the PDC acquisition	0	220	0
Liabilities incurred	83	183	9
Liabilities settled	(2,083)	(1,471)	(1,102)
Reduction due to asset sales	(171)	(94)	(179)
Accretion expense	588	593	560
Revisions in estimated cash flows	417	1,701	605
Ending balance	12,667	$ 13,833	$ 12,701
Long-term portion of the company's before-tax asset retirement obligations	$ 11,429

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Receivables	$ 14,227	$ 13,641

Other Financial Information - N

Other Financial Information - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Gains on sale of nonstrategic properties	$ 246,000,000	$ 143,000,000	$ 390,000,000
Severance after tax	715,000,000
After tax charges for decommissioning obligations	400,000,000	1,950,000,000
Goodwill	4,578,000,000	4,722,000,000
Downstream
Business Acquisition [Line Items]
Gains on sale of nonstrategic properties	15,000,000	33,000,000	90,000,000
Downstream | Operating Segments
Business Acquisition [Line Items]
Severance after tax	715,000,000
Goodwill	352,000,000	352,000,000
Downstream | United States
Business Acquisition [Line Items]
Severance after tax	188,000,000
After tax charges for decommissioning obligations	90,000,000
Downstream | International
Business Acquisition [Line Items]
Severance after tax	17,000,000
After tax charges for decommissioning obligations	185,000,000
Upstream
Business Acquisition [Line Items]
Gains on sale of nonstrategic properties	231,000,000	110,000,000	300,000,000
After tax charges for decommissioning obligations		1,765,000,000	1,075,000,000
Tax benefit		655,000,000
Earnings on early contract termination			600,000,000
Goodwill impairment loss	0
Upstream | Operating Segments
Business Acquisition [Line Items]
Goodwill	4,226,000,000	$ 4,370,000,000
Upstream | United States
Business Acquisition [Line Items]
Severance after tax	183,000,000
Upstream | International
Business Acquisition [Line Items]
Severance after tax	119,000,000
After tax charges for decommissioning obligations	125,000,000
All Other
Business Acquisition [Line Items]
Severance after tax	$ 208,000,000
Pension settlement costs			$ 271,000,000

Other Financial Information - S

Other Financial Information - Schedule of Other Financial Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Total financing interest and debt costs	$ 773	$ 617	$ 630
Less: Capitalized interest	179	148	114
Interest and debt expense	594	469	516
Research and development expenses	353	320	268
Excess of replacement cost over the carrying value of inventories (LIFO method)	5,997	6,455	9,061
LIFO profits (losses) on inventory drawdowns included in earnings	(111)	14	122
Foreign currency effects	520	(224)	669
Company’s share of equity affiliates foreign currency effects	$ 45	$ (11)	$ 253

Financial Instruments - Credi_2

Financial Instruments - Credit Losses (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Allowance for credit loss	$ 611	$ 641
Trade receivable	18,338
Non-trade receivable	3,835
Investments and Advances
Related Party Transaction [Line Items]
Non - trade allowance for credit loss	$ 0	$ 219

Acquisition of PDC Energy, In_3

Acquisition of PDC Energy, Inc. - Narrative (Details) - PDC Energy, Inc. shares in Millions, $ in Millions	Aug. 07, 2023 USD ($) shares
Business Acquisition [Line Items]
Consideration transferred | $	$ 6,520
Percent of shares	0.02
Common Stock
Business Acquisition [Line Items]
Number of shares (in shares) | shares	41

Acquisition of PDC Energy, In_4

Acquisition of PDC Energy, Inc. - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - PDC Energy, Inc. $ in Millions	Aug. 07, 2023 USD ($)
Business Acquisition [Line Items]
Current assets	$ 630
Properties, plant and equipment	10,487
Other assets	118
Total assets acquired	11,235
Current liabilities	1,376
Long-term debt	1,473
Deferred income tax	1,397
Other liabilities	469
Total liabilities assumed	4,715
Purchase Price	$ 6,520

Agreement to Acquire Hess Cor_2

Agreement to Acquire Hess Corporation (Details) - Hess Corporation $ / shares in Units, $ in Millions	Oct. 23, 2023 USD ($) $ / shares
Business Acquisition [Line Items]
Consideration transferred | $	$ 53,000
Common Stock
Business Acquisition [Line Items]
Stock received on acquisition per share (in dollars per share) | $ / shares	$ 1.0250

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Employee Termination Benefits
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	$ 6	$ 11	$ 43
Additions (reductions) write-offs charged to expense	987	(2)	1
Payments/ reductions	(3)	(3)	(33)
Ending balance	990	6	11
Expected Credit Losses
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	641	1,008	745
Current period provision	(30)	(367)	263
Additions (reductions) write-offs charged to expense	0	0	0
Ending balance	611	641	1,008
Deferred Income Tax Valuation Allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	20,416	19,532	17,651
Additions (reductions) write-offs charged to expense	1,881	2,348	3,533
Payments/ reductions	(984)	(1,464)	(1,652)
Ending balance	$ 21,313	$ 20,416	$ 19,532