Investments and Advances (Tables)

12 Months Ended

Dec. 31, 2024

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

Schedule of 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
	2024		2023		2024		2023		2022
Upstream
Tengizchevroil	$	27,368	$	26,954	$	3,033	$	3,375	$	4,386


Caspian Pipeline Consortium	719		797		180		158		128
Angola LNG Limited	1,665		1,762		405		513		1,857

Other	1,716		2,106		(38)		(161)		255
Total Upstream	31,468		31,619		3,580		3,885		6,626
Downstream
Chevron Phillips Chemical Company LLC	8,571		7,765		903		608		867
GS Caltex Corporation	4,144		4,309		58		437		874
Other	2,432		2,426		60		210		224
Total Downstream	15,147		14,500		1,021		1,255		1,965
All Other
Other	3		(6)		(5)		(9)		(6)
Total equity method	$	46,618	$	46,113	$	4,596	$	5,131	$	8,585
Other non-equity method investments	820		699
Total investments and advances	$	47,438	$	46,812
Total United States	$	11,960	$	10,985	$	944	$	340	$	975
Total International	$	35,478	$	35,827	$	3,652	$	4,791	$	7,610

Schedule of 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 $4,731, $4,494 and $4,278 at December 31, 2024, 2023 and 2022, respectively.


	Affiliates						Chevron Share
Year ended December 31	2024		2023		2022		2024		2023		2022
Total revenues	$	46,081	$	49,306	$	100,184	$	21,765	$	23,217	$	48,323
Income before income tax expense*	13,127		15,304		23,811		6,088		7,209		10,876
Net income attributable to affiliates	10,253		11,618		19,077		4,802		5,485		8,595
At December 31
Current assets	$	21,697	$	22,772	$	26,632	$	9,323	$	10,110	$	11,671
Noncurrent assets	104,396		105,965		101,557		49,435		48,753		46,428
Current liabilities	12,906		14,085		16,319		5,084		6,698		7,708
Noncurrent liabilities	22,651		23,797		22,943		7,278		6,342		5,980
Total affiliates’ net equity	$	90,536	$	90,855	$	88,927	$	46,396	$	45,823	$	44,411

* Chevron’s net income attributable to affiliates is recorded in the company’s before-tax consolidated earnings in accordance with U.S. Generally Accepted Accounting Principles. The total income tax expense recorded by the company’s equity affiliates in 2024 was $2,874, with Chevron’s share being $1,286.