Stock Analysis on Net

Chevron Corp. (NYSE:CVX)

$24.99

Adjustments to Financial Statements

Microsoft Excel

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Adjustments to Current Assets

Chevron Corp., adjusted current assets

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Current assets
Adjustments
Add: Allowance
Add: LIFO reserve1
After Adjustment
Adjusted current assets

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).

1 LIFO reserve. See details »


Adjustments to Total Assets

Chevron Corp., adjusted total assets

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Total assets
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1
Add: Allowance
Add: LIFO reserve2
Less: Noncurrent deferred tax assets (included in Deferred charges and other assets)3
After Adjustment
Adjusted total assets

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).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 LIFO reserve. See details »

3 Noncurrent deferred tax assets (included in Deferred charges and other assets). See details »


Adjustments to Total Liabilities

Chevron Corp., adjusted total liabilities

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Total liabilities
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1
Less: Noncurrent deferred income tax liabilities2
Less: Employee termination benefits
After Adjustment
Adjusted total liabilities

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).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Noncurrent deferred income tax liabilities. See details »


Adjustments to Stockholders’ Equity

Chevron Corp., adjusted total Chevron Corporation stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Total Chevron Corporation stockholders’ equity
Adjustments
Less: Deferred taxes, net1
Add: Allowance
Add: LIFO reserve2
Add: Employee termination benefits
Add: Redeemable noncontrolling interest
Add: Noncontrolling interests
After Adjustment
Adjusted total equity

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).

1 Deferred taxes, net. See details »

2 LIFO reserve. See details »


Adjustments to Capitalization Table

Chevron Corp., adjusted capitalization table

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Short-term debt
Long-term debt, excluding debt due within one year
Total reported debt
Total Chevron Corporation stockholders’ equity
Total reported capital
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1
Add: Current lease liabilities, operating leases (included in Accrued liabilities)2
Add: Noncurrent lease liabilities, operating leases (included in Deferred credits and other noncurrent obligations)3
Adjusted total debt
Adjustments to Equity
Less: Deferred taxes, net4
Add: Allowance
Add: LIFO reserve5
Add: Employee termination benefits
Add: Redeemable noncontrolling interest
Add: Noncontrolling interests
Adjusted total equity
After Adjustment
Adjusted total capital

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).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current lease liabilities, operating leases (included in Accrued liabilities). See details »

3 Noncurrent lease liabilities, operating leases (included in Deferred credits and other noncurrent obligations). See details »

4 Deferred taxes, net. See details »

5 LIFO reserve. See details »


Adjustments to Reported Income

Chevron Corp., adjusted net income (loss) attributable to Chevron Corporation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
As Reported
Net income (loss) attributable to Chevron Corporation
Adjustments
Add: Deferred income tax expense (benefit)1
Add: Increase (decrease) in allowance
Add: Increase (decrease) in LIFO reserve2
Add: Increase (decrease) in employee termination benefits
Add: Other comprehensive gain (loss), net of tax
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest
After Adjustment
Adjusted net income (loss)

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).

1 Deferred income tax expense (benefit). See details »

2 Increase (decrease) in LIFO reserve. See details »