Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Chevron Corp., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Sales and other operating revenues	48,933)	51,922)	47,216)	48,842)	54,523)	63,508)	65,372)	52,314)	45,861)	42,552)	36,117)	31,076)	24,843)	23,997)	15,926)	29,705)	34,574)	34,779)	36,323)	34,189)
Income (loss) from equity affiliates	990)	1,313)	1,240)	1,588)	1,623)	2,410)	2,467)	2,085)	1,657)	1,647)	1,442)	911)	568)	510)	(2,515)	965)	538)	1,172)	1,196)	1,062)
Other income (loss)	(2,743)	845)	440)	363)	327)	726)	923)	(26)	611)	511)	38)	42)	(165)	(56)	83)	831)	1,238)	165)	1,331)	(51)
Revenues and other income	47,180)	54,080)	48,896)	50,793)	56,473)	66,644)	68,762)	54,373)	48,129)	44,710)	37,597)	32,029)	25,246)	24,451)	13,494)	31,501)	36,350)	36,116)	38,850)	35,200)
Purchased crude oil and products	(28,477)	(32,328)	(28,984)	(29,407)	(34,674)	(38,090)	(40,003)	(32,649)	(27,341)	(23,834)	(20,629)	(17,568)	(13,387)	(13,448)	(8,144)	(15,509)	(19,693)	(19,882)	(20,835)	(19,703)
Operating expenses	(6,510)	(6,299)	(6,057)	(6,021)	(6,401)	(6,357)	(6,318)	(5,638)	(5,507)	(5,353)	(4,899)	(4,967)	(4,898)	(4,604)	(5,530)	(5,291)	(5,987)	(5,325)	(5,187)	(4,886)
Selling, general and administrative expenses	(969)	(1,163)	(1,128)	(881)	(1,454)	(1,028)	(863)	(967)	(1,271)	(657)	(1,096)	(990)	(1,129)	(832)	(1,569)	(683)	(1,129)	(954)	(1,076)	(984)
Exploration expenses	(254)	(301)	(169)	(190)	(453)	(116)	(196)	(209)	(192)	(158)	(113)	(86)	(367)	(117)	(895)	(158)	(272)	(168)	(141)	(189)
Depreciation, depletion and amortization	(6,254)	(4,025)	(3,521)	(3,526)	(4,764)	(4,201)	(3,700)	(3,654)	(4,813)	(4,304)	(4,522)	(4,286)	(4,486)	(4,017)	(6,717)	(4,288)	(16,429)	(4,361)	(4,334)	(4,094)
Taxes other than on income	(1,062)	(1,021)	(1,041)	(1,096)	1,240)	(1,707)	(1,563)	(2,002)	(1,779)	(2,075)	(1,566)	(1,420)	(1,276)	(1,091)	(965)	(1,167)	(969)	(1,059)	(1,047)	(1,061)
Operating income (loss)	3,654)	8,943)	7,996)	9,672)	9,967)	15,145)	16,119)	9,254)	7,226)	8,329)	4,772)	2,712)	(297)	342)	(10,326)	4,405)	(8,129)	4,367)	6,230)	4,283)
Interest and debt expense	(120)	(114)	(120)	(115)	(123)	(128)	(129)	(136)	(155)	(174)	(185)	(198)	(199)	(164)	(172)	(162)	(178)	(197)	(198)	(225)
Other components of net periodic benefit costs	(44)	(91)	(39)	(38)	(36)	(208)	13)	(64)	(86)	(100)	(165)	(337)	(461)	(222)	(99)	(98)	(98)	(121)	(97)	(101)
Income (loss) before income tax (expense) benefit	3,490)	8,738)	7,837)	9,519)	9,808)	14,809)	16,003)	9,054)	6,985)	8,055)	4,422)	2,177)	(957)	(44)	(10,597)	4,145)	(8,405)	4,049)	5,935)	3,957)
Income tax (expense) benefit	(1,247)	(2,183)	(1,829)	(2,914)	(3,430)	(3,571)	(4,288)	(2,777)	(1,903)	(1,940)	(1,328)	(779)	301)	(165)	2,320)	(564)	1,738)	(1,469)	(1,645)	(1,315)
Net income (loss)	2,243)	6,555)	6,008)	6,605)	6,378)	11,238)	11,715)	6,277)	5,082)	6,115)	3,094)	1,398)	(656)	(209)	(8,277)	3,581)	(6,667)	2,580)	4,290)	2,642)
Net (income) loss attributable to noncontrolling interests	16)	(29)	2)	(31)	(25)	(7)	(93)	(18)	(27)	(4)	(12)	(21)	(9)	2)	7)	18)	57)	—)	15)	7)
Net income (loss) attributable to Chevron Corporation	2,259)	6,526)	6,010)	6,574)	6,353)	11,231)	11,622)	6,259)	5,055)	6,111)	3,082)	1,377)	(665)	(207)	(8,270)	3,599)	(6,610)	2,580)	4,305)	2,649)

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Income statement item	Description	The company
Sales and other operating revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Chevron Corp. sales and other operating revenues increased from Q2 2023 to Q3 2023 but then slightly decreased from Q3 2023 to Q4 2023 not reaching Q2 2023 level.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Chevron Corp. operating income (loss) increased from Q2 2023 to Q3 2023 but then decreased significantly from Q3 2023 to Q4 2023.
Income (loss) before income tax (expense) benefit	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Chevron Corp. income (loss) before income tax (expense) benefit increased from Q2 2023 to Q3 2023 but then decreased significantly from Q3 2023 to Q4 2023.
Net income (loss) attributable to Chevron Corporation	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Chevron Corp. net income (loss) attributable to Chevron Corporation increased from Q2 2023 to Q3 2023 but then decreased significantly from Q3 2023 to Q4 2023.

Chevron Corp. (NYSE:CVX)

Income StatementQuarterly Data

Income Statement
Quarterly Data