Analysis of Geographic Areas
Chevron Corp. operates in 2 regions: United States and International.
Paying user area
Try for free
Chevron Corp. pages available for free this week:
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Chevron Corp. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Area Profit Margin
Chevron Corp., profit margin by geographic area
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| International |
Based on: 10-K (reporting date: 2024-12-31), 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).
- United States Profit Margin
- The profit margin in the United States segment experienced a notable recovery from a negative margin of -4.55% in 2020 to a positive 11.17% in 2021. This upward trend continued with a slight increase to 12.63% in 2022, indicative of improved profitability. However, in the subsequent years, the margin exhibited a declining trend, falling to 6.51% in 2023 and remaining nearly stable at 6.52% in 2024. The initial sharp improvement followed by a gradual decline suggests possible changes in market conditions or operational challenges impacting profitability in the latter years.
- International Profit Margin
- The international segment showed a similar recovery trend starting from a marginal negative profit margin of -0.31% in 2020. This improved substantially to 9.11% in 2021 and further increased to 14.19% in 2022, marking the highest profit margin within the observed period. Although a decline followed, with margins decreasing to 12.74% in 2023 and then to 10.09% in 2024, profitability remained significantly positive and relatively strong compared to the United States segment in the last two years. This indicates sustained international operational efficiency or favorable market factors despite the tapering margins.
- Comparative Insights
- Both geographic areas underwent a transition from negative or near zero profit margins in 2020 to positive margins thereafter, reflecting overall improved financial performance. The international segment consistently outperformed the United States segment from 2022 onward, maintaining higher margin levels despite a downward adjustment after peak performance in that year. The United States margin's more pronounced decline in recent years warrants attention to potential domestic market or operational issues, while the international segment’s higher and more stable margins imply relatively better profitability or growth prospects abroad.
Area Profit Margin: United States
Chevron Corp.; United States; area profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment earnings | |||||
| Segment sales and other operating revenues | |||||
| Area Profitability Ratio | |||||
| Area profit margin1 | |||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area profit margin = 100 × Segment earnings ÷ Segment sales and other operating revenues
= 100 × ÷ =
- Segment Earnings
- The segment earnings display a significant recovery from a negative value of -2,179 million US dollars in 2020 to a strong positive figure of 9,708 million US dollars in 2021. This upward trend continued into 2022 with earnings peaking at 18,015 million US dollars. However, the earnings then declined considerably in 2023 to 8,052 million US dollars and remained relatively stable into 2024 with a slight increase to 8,133 million US dollars.
- Segment Sales and Other Operating Revenues
- Sales and operating revenues show a consistent upward trajectory from 47,910 million US dollars in 2020, nearly doubling to 86,934 million US dollars in 2021. This growth accelerates in 2022, reaching 142,646 million US dollars. Following this peak, there is a decline to 123,682 million US dollars in 2023, after which revenues stabilize slightly with a modest increase to 124,719 million US dollars in 2024.
- Area Profit Margin
- The profit margin remains negative in 2020 at -4.55%, indicating losses during that year. In 2021, the margin improves significantly to 11.17%, increasing further to 12.63% in 2022, which represents the highest profit margin in the observed period. The margin then declines to 6.51% in 2023 and remains virtually unchanged at 6.52% in 2024, suggesting a reduction in profitability despite the stabilization in revenue.
- Summary of Trends
- The data reveals a recovery and growth phase from 2020 through 2022, characterized by strong increases in both earnings and sales, alongside improving profit margins. From 2023 onward, although revenues remain relatively high and stable compared to 2022, both earnings and profit margins decrease, indicating a potential rise in costs or changes in pricing pressures affecting profitability. The stabilization of earnings and margins in 2024 suggests the segment may have reached a new equilibrium after a period of volatility.
Area Profit Margin: International
Chevron Corp.; International; area profit margin calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment earnings | |||||
| Segment sales and other operating revenues | |||||
| Area Profitability Ratio | |||||
| Area profit margin1 | |||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area profit margin = 100 × Segment earnings ÷ Segment sales and other operating revenues
= 100 × ÷ =
The data for the international geographic area exhibits notable fluctuations and overall positive trends in financial performance over the five-year period.
- Segment Earnings
- The segment earnings show a dramatic improvement from a negative value of -207 million US dollars in 2020 to a substantial positive peak of 20,424 million US dollars in 2022. Following this peak, there is a declining trend with earnings falling to 15,523 million in 2023 and further down to 12,196 million in 2024. Despite the decrease from the highs, the earnings remain significantly above the 2020 level, indicating strong profitability growth over the period.
- Segment Sales and Other Operating Revenues
- Revenue figures display a strong upward trajectory from 65,755 million US dollars in 2020 to a peak of 143,897 million in 2022. Subsequently, revenues decline to 121,863 million in 2023 and remain relatively steady with a slight decrease to 120,896 million in 2024. The increase from 2020 to 2022 represents considerable expansion, followed by a mild contraction but maintaining high sales levels compared to earlier years.
- Area Profit Margin
- The profit margin started negative at -0.31% in 2020 and then markedly improved to 9.11% in 2021, with further gains reaching a high of 14.19% in 2022. The margin subsequently decreased to 12.74% in 2023 and declined further to 10.09% in 2024. The margin trend parallels the earnings and sales pattern, showcasing improved profitability through 2022, followed by a moderate decline while still remaining in robust positive territory.
Overall, the data reveals a recovery and growth phase peaking in 2022 across earnings, sales, and margins, with a moderate correction in 2023 and 2024. The international segment experienced significant gains in profitability and revenue, maintaining substantially improved financial health compared to the baseline year of 2020.
Area Return on Assets (Area ROA)
Chevron Corp., ROA by geographic area
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| International |
Based on: 10-K (reporting date: 2024-12-31), 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).
- United States ROA Trend
- The return on assets (ROA) for the United States showed a significant recovery from a negative value of -3.12% at the end of 2020 to a peak of 19.21% by the end of 2022. However, after 2022, there was a noticeable decline, with ROA dropping to 8.77% in 2023 and further slightly decreasing to 8.55% in 2024. The trend indicates a sharp rebound in profitability followed by a deceleration, stabilizing at a lower but still positive level in the last two years.
- International ROA Trend
- International ROA exhibited consistent improvement from -0.13% at the end of 2020 to 12.83% in 2022, showing steady growth in asset returns over the first three years. Post-2022, the ROA displayed a mild decline, decreasing to 10.16% in 2023 and further to 8.38% in 2024. This pattern suggests growth with a subsequent plateau, maintaining a positive return but with a downward adjustment in the most recent periods.
- Comparative Analysis
- Both geographical segments experienced a rebound from negative or near-zero returns in 2020 to more robust positive returns by 2022. The United States demonstrated a more pronounced recovery and higher peak ROA than the international segment during this period. However, both segments saw declines after 2022, converging towards similar levels of around 8.5% to 8.4% by 2024. This convergence may reflect broader market or company-specific factors influencing returns across regions.
Area ROA: United States
Chevron Corp.; United States; area ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment earnings | |||||
| Assets | |||||
| Area Profitability Ratio | |||||
| Area ROA1 | |||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area ROA = 100 × Segment earnings ÷ Assets
= 100 × ÷ =
- Segment Earnings
-
The segment earnings demonstrated notable volatility over the analyzed periods. Initially, there was a significant loss of 2,179 million US dollars in 2020, followed by a substantial recovery in 2021 to earnings of 9,708 million US dollars. The positive momentum continued into 2022 with segment earnings peaking at 18,015 million US dollars. However, earnings experienced a decline in the subsequent years, dropping to 8,052 million US dollars in 2023 and remaining relatively flat at 8,133 million US dollars in 2024.
- Assets
-
Total assets held a generally increasing trend through the periods under review. Starting at 69,938 million US dollars in 2020, assets grew steadily to 73,992 million in 2021 and further increased to 93,783 million in 2022. A slight decrease occurred in 2023 to 91,816 million US dollars, followed by a rebound to 95,167 million in 2024. This trend reflects sustained investment or asset accumulation despite fluctuations in earnings.
- Area Return on Assets (ROA)
-
Return on assets showed significant fluctuations, indicating variable profitability relative to asset bases over the years. The ROA stood at a negative 3.12% in 2020, coinciding with the segment's loss in that year. A marked improvement was observed in 2021, with ROA rising to 13.12%, and peaking at 19.21% in 2022, which aligns with peak earnings observed in the same period. The ROA decline in 2023 to 8.77% and a slight further decrease to 8.55% in 2024 suggest reduced efficiency in asset utilization or lower profitability despite asset growth.
Area ROA: International
Chevron Corp.; International; area ROA calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment earnings | |||||
| Assets | |||||
| Area Profitability Ratio | |||||
| Area ROA1 | |||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area ROA = 100 × Segment earnings ÷ Assets
= 100 × ÷ =
- Segment Earnings
- Segment earnings exhibited a substantial positive turnaround from a significant loss of -207 million US dollars in 2020 to a notable profit of 9,024 million US dollars in 2021. This upward trajectory continued in 2022, reaching a peak of 20,424 million US dollars. However, earnings declined in the subsequent years, falling to 15,523 million US dollars in 2023 and further to 12,196 million US dollars in 2024, indicating a period of reduced profitability after the peak year.
- Assets
- Total assets in the international geographic area show a consistent downward trend over the five-year period. Assets decreased from 165,450 million US dollars at the end of 2020 to 145,508 million US dollars by the end of 2024. This steady reduction suggests a contraction or divestiture in asset holdings within this segment over time.
- Area Return on Assets (ROA)
- The area ROA followed a pattern similar to segment earnings. It moved from a negative return of -0.13% in 2020 to a strong positive return of 5.6% in 2021. The ratio increased sharply to 12.83% in 2022, reflecting improved asset efficiency. Subsequently, ROA declined to 10.16% in 2023 and further to 8.38% in 2024, indicating a decrease in profitability relative to assets though it remained at a comparatively high level relative to earlier years.
Area Asset Turnover
Chevron Corp., asset turnover by geographic area
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| International |
Based on: 10-K (reporting date: 2024-12-31), 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).
The annual geographic area asset turnover data reveals distinct trends for the United States and International segments over the five-year period from 2020 to 2024.
- United States
- The asset turnover ratio for the United States exhibited a significant increase from 0.69 in 2020 to a peak of 1.52 in 2022. This upward trajectory suggests improved efficiency in utilizing assets to generate revenue during this period. However, after 2022, the ratio declined slightly to 1.35 in 2023 and further to 1.31 in 2024, indicating a mild decrease in asset turnover efficiency in the most recent two years. Despite this, the levels remain substantially higher than those recorded in 2020, implying overall growth in asset utilization efficiency in the United States segment over the five years.
- International
- The international asset turnover ratio consistently increased from 0.40 in 2020 to 0.90 in 2022, reflecting improving asset use internationally. However, unlike the United States, the ratio experienced a noticeable decline in 2023 to 0.80, before slightly rebounding to 0.83 in 2024. The fluctuations indicate some variability in asset efficiency outside the United States, though the ratio at the end of the period remains more than double the initial 2020 value, indicating net progress across the five years.
- Comparative Observations
- Throughout the period analyzed, the United States consistently maintained a higher asset turnover ratio compared to the International segment, suggesting relatively greater asset efficiency domestically. Both geographic areas peaked in 2022, followed by some level of decline or stabilization in the subsequent years. The patterns suggest potential operational or market factors influencing asset utilization post-2022, with both areas reflecting moderated growth or a minor contraction in asset turnover.
Area Asset Turnover: United States
Chevron Corp.; United States; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment sales and other operating revenues | |||||
| Assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Segment sales and other operating revenues ÷ Assets
= ÷ =
- Segment Sales and Other Operating Revenues
- The segment sales and other operating revenues experienced a significant increase from 2020 to 2022, rising from 47,910 million US dollars in 2020 to 142,646 million US dollars in 2022. This indicates a period of strong revenue growth. However, in the following years, there was a decline in 2023 to 123,682 million US dollars, followed by a slight recovery in 2024 to 124,719 million US dollars. Despite this partial recovery, the revenue in 2024 remains below the peak achieved in 2022.
- Assets
- Total assets showed a steady increase over the five-year period. Starting at 69,938 million US dollars in 2020, assets gradually rose each year, reaching 93,783 million US dollars by 2022. Although there was a minor decrease to 91,816 million US dollars in 2023, assets increased again in 2024 to 95,167 million US dollars, exceeding the 2022 peak. This trend reflects continued investment or asset accumulation with minor fluctuations.
- Area Asset Turnover
- The area asset turnover ratio demonstrated a marked improvement from 0.69 in 2020 to a peak of 1.52 in 2022, indicating enhanced efficiency in utilizing assets to generate sales during this period. After this peak, the ratio declined to 1.35 in 2023 and further to 1.31 in 2024. Despite these decreases, the asset turnover ratio in the last two years remains substantially higher than in 2020 and 2021, suggesting sustained but moderated operational efficiency.
- Overall Observations
- The data reveals an initial phase of rapid growth in revenues and asset efficiency up to 2022, followed by a period of correction or stabilization. Revenue peaked in 2022, then decreased, partially recovering in 2024, whereas assets steadily increased with a small dip in 2023 before recovering. Correspondingly, the asset turnover ratio peaked in 2022 and has since slightly declined but remains well above early period values, reflecting a generally improved ability to generate sales from assets compared to 2020 and 2021.
Area Asset Turnover: International
Chevron Corp.; International; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment sales and other operating revenues | |||||
| Assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
Based on: 10-K (reporting date: 2024-12-31), 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).
1 2024 Calculation
Area asset turnover = Segment sales and other operating revenues ÷ Assets
= ÷ =
The analysis of the annual data for the International geographic area reveals several notable trends in financial performance and asset utilization.
- Segment Sales and Other Operating Revenues
- There is a significant upward trend in revenues from 2020 to 2022, with sales increasing from approximately 65.8 billion US dollars in 2020 to a peak of about 143.9 billion US dollars in 2022. However, this growth is followed by a decline in the subsequent years, with revenues decreasing to roughly 121.9 billion US dollars in 2023 and remaining relatively stable in 2024 at approximately 120.9 billion US dollars. This pattern indicates an initial period of strong revenue growth, potentially driven by market conditions or operational expansion, followed by a contraction or stabilization in revenue generation.
- Assets
- The asset base shows a gradual decline over the five-year period. Starting at about 165.5 billion US dollars in 2020, assets steadily decrease each year, reaching around 145.5 billion US dollars by 2024. This trend suggests a possible divestiture of assets, asset impairment, or shifts in investment strategy affecting the International segment.
- Area Asset Turnover Ratio
- The asset turnover ratio, which measures the efficiency of asset use in generating sales, exhibits a positive trajectory from 0.4 in 2020 to a peak of 0.9 in 2022, indicating improving efficiency and better utilization of assets in generating revenues during that period. In 2023, the ratio decreases to 0.8 but slightly increases again to 0.83 in 2024. Despite the slight reduction after 2022, the overall trend points to enhanced asset productivity compared to the starting point in 2020.
In summary, the International segment experienced robust revenue growth and improved asset utilization efficiency through 2022, accompanied by a gradual reduction in asset levels. The subsequent years show a stabilization in revenues and a moderately sustained level of asset turnover efficiency, alongside continued asset base contraction. These patterns suggest adjustments in operational scale or market conditions influencing the financial dynamics of this geographic area.
Segment sales and other operating revenues
Chevron Corp., segment sales and other operating revenues by geographic area
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| International | |||||
| Total |
Based on: 10-K (reporting date: 2024-12-31), 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).
- United States Sales and Revenues
- From 2020 to 2022, sales and other operating revenues in the United States exhibited a strong upward trend, increasing from approximately 47.9 billion US dollars in 2020 to about 142.6 billion US dollars in 2022. This represents nearly a threefold increase over the two-year period. However, in 2023, there was a noticeable decline to around 123.7 billion US dollars, followed by a slight recovery to approximately 124.7 billion US dollars in 2024. Despite the reduction after 2022, the values in 2023 and 2024 remain significantly higher than the figures recorded in 2020 and 2021.
- International Sales and Revenues
- International revenues also showed a marked increase from 65.8 billion US dollars in 2020 to a peak of approximately 143.9 billion US dollars in 2022. Similar to the domestic trend, there was a downturn in 2023, with values falling to about 121.9 billion US dollars, and a slight further decrease to approximately 120.9 billion US dollars in 2024. This indicates a peak reached in 2022, with a subsequent gradual decline over the following two years.
- Total Sales and Revenues
- The combined total sales and other operating revenues mirrored the patterns observed in both domestic and international segments. There was a consistent growth trajectory from 113.7 billion US dollars in 2020 to a peak of around 286.5 billion US dollars in 2022. This was followed by a decline in 2023 to roughly 245.5 billion US dollars, stabilizing near the same level in 2024 with a marginal increase to about 245.6 billion US dollars. The total revenues in the last two years remained notably above those of the earlier years.
- Insights and Patterns
- Overall, the data shows a substantial increase in sales and operating revenues for both domestic and international markets over the first three years, culminating in peak values in 2022. Following this peak, there is a clear downward correction in 2023, with a near stabilization or slight recovery in 2024. Both segments contribute roughly equally to the total revenues, as the proportions remain fairly balanced throughout the period. The trends indicate potential external factors influencing a revenue peak in 2022 and a subsequent adjustment phase, though the later years still maintain higher revenue levels than the starting point in 2020.
Segment earnings
Chevron Corp., segment earnings by geographic area
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| International | |||||
| Total |
Based on: 10-K (reporting date: 2024-12-31), 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).
- United States Segment
- The earnings for the United States segment show significant volatility over the analyzed period. Initially, in 2020, there was a substantial loss of 2,179 million USD. However, earnings turned positive in 2021, rising sharply to 9,708 million USD. This upward trend continued into 2022 with a notable increase to 18,015 million USD. Subsequently, earnings declined in 2023 to 8,052 million USD and stabilized in 2024 at 8,133 million USD, indicating a reduction from the peak in 2022 but remaining in positive territory.
- International Segment
- The international segment also experienced fluctuations across the years. Starting with a small loss of 207 million USD in 2020, earnings improved markedly in 2021 to 9,024 million USD. Earnings peaked in 2022 at 20,424 million USD, reflecting strong international performance. However, this was followed by a decline in 2023 to 15,523 million USD and a further decrease in 2024 to 12,196 million USD, illustrating a downward trend after the high point in 2022.
- Total Earnings
- Total earnings mirrored the combined trends of the geographic segments. There was a net loss in 2020, amounting to 2,386 million USD. This was succeeded by a strong recovery and growth in 2021 and 2022, with total earnings reaching a peak of 38,439 million USD in 2022. Subsequently, total earnings declined in 2023 to 23,575 million USD and further decreased to 20,329 million USD in 2024. Despite the decline from the 2022 peak, total earnings remained significantly positive in the later years.
Assets
Chevron Corp., assets by geographic area
US$ in millions
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| International | |||||
| Goodwill | |||||
| Total |
Based on: 10-K (reporting date: 2024-12-31), 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).
- United States Assets
- The assets located in the United States exhibited a generally increasing trend over the five-year period. Starting at 69,938 million US dollars in 2020, the value rose to 73,992 million in 2021. A notable increase occurred in 2022, reaching 93,783 million, followed by a slight decrease to 91,816 million in 2023. The assets value then increased again to 95,167 million by the end of 2024. This pattern suggests a consistent growth in asset holdings within the United States, with minor fluctuations in the latter years.
- International Assets
- The international assets showed a declining trend over the analyzed period. Starting at 165,450 million US dollars in 2020, the value decreased gradually each year, ending at 145,508 million in 2024. This steady decline indicates a strategic reduction or divestment of assets outside the United States. The decrease was relatively consistent, reflecting a possible reallocation of resources or changes in international operations.
- Goodwill
- Goodwill remained relatively stable throughout the years, starting at 4,402 million US dollars in 2020 and showing only minor variations. It slightly decreased to 4,385 million in 2021, increased to 4,722 million in 2022 and 2023, then declined modestly to 4,578 million in 2024. These small fluctuations suggest minimal impairment or acquisition impacts affecting goodwill during this period.
- Total Assets
- Total assets experienced fluctuations but maintained an overall positive trend until 2022, increasing from 239,790 million US dollars in 2020 to a peak of 257,709 million in 2022. Subsequently, total assets declined to 249,293 million in 2023 and further to 245,253 million in 2024. This decline aligns with the reduction in international assets, indicating that the decrease in non-U.S. holdings significantly influenced the overall asset base despite growth in the U.S. assets.