Investments and Advances (Tables)

12 Months Ended

Dec. 31, 2020

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

Equity in earnings, together with investments in and advances to companies accounted for using the equity method and other investments accounted for at or below cost

Equity in earnings, together with investments in and advances to companies accounted for using the equity method and other investments accounted for at or below cost, is shown in the following table. For certain equity affiliates, Chevron pays its share of some income taxes directly. For such affiliates, the equity in earnings does not include these taxes, which are reported on the Consolidated Statement of Income as “Income tax expense.”


Investments and Advances					Equity in Earnings
	At December 31				Year ended December 31
	2020		2019		2020		2019		2018
Upstream
Tengizchevroil	$	22,685	$	20,214	$	1,238	$	3,067	$	3,614
Petropiar	—		1,396		(1,396)		80		317
Petroboscan	—		1,139		(1,112)		(11)		357
Caspian Pipeline Consortium	835		883		159		155		170
Angola LNG Limited	2,258		2,423		(166)		(26)		172
Noble Midstream equity affiliates	895		—		(9)		—		—
Other	980		881		146		(478)		19
Total Upstream	27,653		26,936		(1,140)		2,787		4,649
Downstream
Chevron Phillips Chemical Company LLC	6,181		6,241		630		880		1,034
GS Caltex Corporation	3,547		3,796		(185)		13		373
Other	1,389		1,443		223		288		273
Total Downstream	11,117		11,480		668		1,181		1,680
All Other
Other	(14)		(14)		—		—		(2)
Total equity method	$	38,756	$	38,402	$	(472)	$	3,968	$	6,327
Other non-equity method investments	296		286
Total investments and advances	$	39,052	$	38,688
Total United States	$	7,978	$	7,203	$	709	$	641	$	1,033
Total International	$	31,074	$	31,485	$	(1,181)	$	3,327	$	5,294

Summarized financial information on a 100 percent basis for all equity affiliates as well as Chevron's total share, which includes Chevron loans to affiliates

The following table provides summarized financial information on a 100 percent basis for all equity affiliates as well as Chevron’s total share, which includes Chevron’s net loans to affiliates of $5,153, $4,331 and $3,402 at December 31, 2020, 2019 and 2018, respectively.


	Affiliates						Chevron Share
Year ended December 31	2020		2019		2018		2020		2019		2018
Total revenues	$	49,093	$	66,473	$	84,469	$	21,641	$	32,628	$	40,679
Income before income tax expense	5,682		13,197		16,693		2,550		5,954		6,755
Net income attributable to affiliates	4,704		9,809		13,321		2,034		4,366		6,384
At December 31
Current assets	$	17,087	$	30,791	$	32,657	$	7,328	$	12,998	$	12,813
Noncurrent assets	97,468		97,177		87,614		43,247		41,531		36,369
Current liabilities	12,164		26,032		26,006		5,052		10,610		9,843
Noncurrent liabilities	25,586		21,593		20,000		5,884		5,068		4,446
Total affiliates’ net equity	$	76,805	$	80,343	$	74,265	$	39,639	$	38,851	$	34,893