Income Statement

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

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Sales and other operating revenues	196,913)	235,717)	155,606)	94,471)	139,865)
Income (loss) from equity affiliates	5,131)	8,585)	5,657)	(472)	3,968)
Other income (loss)	(1,095)	1,950)	1,202)	693)	2,683)
Revenues and other income	200,949)	246,252)	162,465)	94,692)	146,516)
Purchased crude oil and products	(119,196)	(145,416)	(89,372)	(50,488)	(80,113)
Operating expenses	(24,887)	(24,714)	(20,726)	(20,323)	(21,385)
Selling, general and administrative expenses	(4,141)	(4,312)	(4,014)	(4,213)	(4,143)
Exploration expenses	(914)	(974)	(549)	(1,537)	(770)
Depreciation, depletion and amortization	(17,326)	(16,319)	(17,925)	(19,508)	(29,218)
Taxes other than on income	(4,220)	(4,032)	(6,840)	(4,499)	(4,136)
Operating income (loss)	30,265)	50,485)	23,039)	(5,876)	6,751)
Interest and debt expense	(469)	(516)	(712)	(697)	(798)
Other components of net periodic benefit costs	(212)	(295)	(688)	(880)	(417)
Income (loss) before income tax (expense) benefit	29,584)	49,674)	21,639)	(7,453)	5,536)
Income tax (expense) benefit	(8,173)	(14,066)	(5,950)	1,892)	(2,691)
Net income (loss)	21,411)	35,608)	15,689)	(5,561)	2,845)
Net (income) loss attributable to noncontrolling interests	(42)	(143)	(64)	18)	79)
Net income (loss) attributable to Chevron Corporation	21,369)	35,465)	15,625)	(5,543)	2,924)

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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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 2021 to 2022 but then slightly decreased from 2022 to 2023.
Operating income (loss)	The net result for the period of deducting operating expenses from operating revenues.	Chevron Corp. operating income (loss) increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
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 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
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 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Chevron Corp. (NYSE:CVX)

Income Statement