Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Chevron Corp., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income (loss)	21,411)	35,608)	15,689)	(5,561)	2,845)
Depreciation, depletion and amortization	17,326)	16,319)	17,925)	19,508)	29,218)
Dry hole expense	436)	486)	118)	1,036)	172)
Distributions (less) more than income from equity affiliates	(885)	(4,730)	(1,998)	2,015)	(2,073)
Net before-tax gains on asset retirements and sales	(138)	(550)	(1,021)	(760)	(1,367)
Net foreign currency effects	578)	(412)	(7)	619)	272)
Deferred income tax provision	298)	2,124)	700)	(3,604)	(1,966)
(Increase) decrease in accounts and notes receivable	1,187)	(2,317)	(7,548)	2,423)	1,852)
(Increase) decrease in inventories	(320)	(930)	(530)	284)	7)
(Increase) decrease in prepaid expenses and other current assets	(1,202)	(226)	19)	(87)	(323)
Increase (decrease) in accounts payable and accrued liabilities	(49)	2,750)	5,475)	(3,576)	(109)
Increase (decrease) in income and other taxes payable	(2,801)	2,848)	1,223)	(696)	67)
Net (increase) decrease in operating working capital	(3,185)	2,125)	(1,361)	(1,652)	1,494)
(Increase) decrease in long-term receivables	150)	153)	21)	296)	502)
Net (increase) decrease in other deferred charges	(300)	(212)	(320)	(248)	(69)
Cash contributions to employee pension plans	(1,120)	(1,322)	(1,751)	(1,213)	(1,362)
Other	1,038)	13)	1,192)	141)	(352)
Adjustments	14,198)	13,994)	13,498)	16,138)	24,469)
Net cash provided by operating activities	35,609)	49,602)	29,187)	10,577)	27,314)
Acquisition of businesses, net of cash received	55)	(2,862)	—)	373)	—)
Capital expenditures	(15,829)	(11,974)	(8,056)	(8,922)	(14,116)
Proceeds and deposits related to asset sales and returns of investment	669)	2,635)	1,791)	2,968)	2,951)
Net maturities of time deposits	—)	—)	—)	—)	950)
Net (purchases) sales of marketable securities	175)	117)	(1)	35)	2)
Net (borrowing) repayment of loans by equity affiliates	(302)	(24)	401)	(1,419)	(1,245)
Net cash used for investing activities	(15,232)	(12,108)	(5,865)	(6,965)	(11,458)
Net borrowings (repayments) of short-term obligations	135)	263)	(5,572)	651)	(2,821)
Proceeds from issuances of long-term debt	150)	—)	—)	12,308)	—)
Repayments of long-term debt and other financing obligations	(4,340)	(8,742)	(7,364)	(5,489)	(5,025)
Cash dividends, common stock	(11,336)	(10,968)	(10,179)	(9,651)	(8,959)
Net contributions from (distributions to) noncontrolling interests	(40)	(114)	(36)	(24)	(18)
Net (purchases) sales of treasury shares	(14,678)	(5,417)	38)	(1,531)	(2,935)
Net cash used for financing activities	(30,109)	(24,978)	(23,113)	(3,736)	(19,758)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(114)	(190)	(151)	(50)	332)
Net change in cash, cash equivalents and restricted cash	(9,846)	12,326)	58)	(174)	(3,570)
Cash, cash equivalents and restricted cash at January 1	19,121)	6,795)	6,737)	6,911)	10,481)
Cash, cash equivalents and restricted cash at December 31	9,275)	19,121)	6,795)	6,737)	6,911)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Chevron Corp. net cash provided by operating activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Net cash used for investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Chevron Corp. net cash used for investing activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash used for financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Chevron Corp. net cash used for financing activities decreased from 2021 to 2022 and from 2022 to 2023.

Chevron Corp. (NYSE:CVX)

Cash Flow Statement