Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Chevron Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Short-term debt	529)	1,964)	256)	1,548)	3,282)
Accounts payable	20,423)	18,955)	16,454)	10,950)	14,103)
Accrued liabilities	7,655)	7,486)	6,972)	7,812)	6,589)
Federal and other taxes on income	1,863)	4,381)	1,700)	921)	1,554)
Other taxes payable	1,788)	1,422)	1,409)	952)	1,002)
Current liabilities	32,258)	34,208)	26,791)	22,183)	26,530)
Long-term debt, excluding debt due within one year	20,307)	21,375)	31,113)	42,767)	23,691)
Deferred credits and other noncurrent obligations	24,226)	20,396)	20,778)	20,328)	20,445)
Noncurrent deferred income taxes	18,830)	17,131)	14,665)	12,569)	13,688)
Noncurrent employee benefit plans	4,082)	4,357)	6,248)	9,217)	7,866)
Noncurrent liabilities	67,445)	63,259)	72,804)	84,881)	65,690)
Total liabilities	99,703)	97,467)	99,595)	107,064)	92,220)
Redeemable noncontrolling interest	166)	142)	135)	120)	—)
Preferred stock, $1.00 par value; none issued	—)	—)	—)	—)	—)
Common stock, $0.75 par value	1,832)	1,832)	1,832)	1,832)	1,832)
Capital in excess of par value	21,365)	18,660)	17,282)	16,829)	17,265)
Retained earnings	200,025)	190,024)	165,546)	160,377)	174,945)
Accumulated other comprehensive losses	(2,960)	(2,798)	(3,889)	(5,612)	(4,990)
Deferred compensation and benefit plan trust	(240)	(240)	(240)	(240)	(240)
Treasury stock, at cost	(59,065)	(48,196)	(41,464)	(41,498)	(44,599)
Total Chevron Corporation stockholders’ equity	160,957)	159,282)	139,067)	131,688)	144,213)
Noncontrolling interests	806)	818)	738)	918)	995)
Total equity	161,763)	160,100)	139,805)	132,606)	145,208)
Total liabilities and equity	261,632)	257,709)	239,535)	239,790)	237,428)

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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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	Chevron Corp. current liabilities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Noncurrent liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Chevron Corp. noncurrent liabilities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	Chevron Corp. total liabilities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Total Chevron Corporation stockholders’ equity	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	Chevron Corp. total Chevron Corporation stockholders’ equity increased from 2021 to 2022 and from 2022 to 2023.

Chevron Corp. (NYSE:CVX)

Balance Sheet: Liabilities and Stockholders’ Equity