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v3.26.1

Operating Segments and Geographic Data (Tables) | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Schedule of Segment Sales and Other Operating Revenues |
| Upstream | Downstream | Segment Total | All Other | Total
Three months ended June 30, 2026 | U.S. | Int’l. | U.S. | Int’l.
Sales and other operating revenues before elimination | $ | 15,969 |  | $ | 18,523 |  | $ | 28,503 |  | $ | 25,623 |  | $ | 88,618 |  | $ | 161 |  | $ | 88,779 |
Intersegment revenue elimination | (10,309) |  | (6,655) |  | (3,780) |  | (700) |  | (21,444) |  | (136) |  | (21,580) |
Sales and Other Operating Revenues | 5,660 |  | 11,868 |  | 24,723 |  | 24,923 |  | 67,174 |  | 25 |  | 67,199 |
Income (loss) from equity affiliates | (33) |  | 1,303 |  | 456 |  | 399 |  | 2,125 |  | — |  | 2,125 |
Other income (loss)(1) | (20) |  | 364 |  | 19 |  | 247 |  | 610 |  | 121 |  | 731 |
Total Revenues and Other Income | 5,607 |  | 13,535 |  | 25,198 |  | 25,569 |  | 69,909 |  | 146 |  | 70,055 |
Intersegment product transfers(2) | 9,017 |  | 3,111 |  | (10,355) |  | (2,023) |  | (250) |  | 250 |  | — |
Less expenses: |  |  |  |  |  |  |
Purchased crude oil and products | 4,359 |  | 4,990 |  | 9,161 |  | 18,097 |  | 36,607 |  | — |  | 36,607 |
Operating and SG&A expenses | 2,050 |  | 1,417 |  | 2,270 |  | 2,006 |  | 7,743 |  | 1,118 |  | 8,861 |
Depreciation, depletion and amortization | 3,076 |  | 2,581 |  | 259 |  | 75 |  | 5,991 |  | 91 |  | 6,082 |
Other costs and deductions(3) | 494 |  | 362 |  | 123 |  | 456 |  | 1,435 |  | 386 |  | 1,821 |
Total Costs and Other Deductions | 9,979 |  | 9,350 |  | 11,813 |  | 20,634 |  | 51,776 |  | 1,595 |  | 53,371 |
Income Tax Expense (Benefit) | 1,041 |  | 2,653 |  | 619 |  | 378 |  | 4,691 |  | (221) |  | 4,470 |
Less: Net income (loss) attributable to non-controlling interests | 63 |  | 2 |  | — |  | 77 |  | 142 |  | — |  | 142 |
Net Income (Loss) Attributable to Chevron Corporation | $ | 3,541 |  | $ | 4,641 |  | $ | 2,411 |  | $ | 2,457 |  | $ | 13,050 |  | $ | (978) |  | $ | 12,072 |
Values have been adjusted for eliminations, unless otherwise specified.
(1) Includes interest income of $71 in “All Other.”
(2) Valuation of product transfers between operating segments.
(3) Includes interest expense of $318 in “All Other.”
| Upstream | Downstream | Segment Total | All Other | Total
Three months ended June 30, 2025 | U.S. | Int’l. | U.S. | Int’l.
Sales and other operating revenues before elimination | $ | 10,385 |  | $ | 9,182 |  | $ | 18,708 |  | $ | 18,274 |  | $ | 56,549 |  | $ | 149 |  | $ | 56,698 |
Intersegment revenue elimination | (6,321) |  | (2,178) |  | (1,901) |  | (1,804) |  | (12,204) |  | (119) |  | (12,323) |
Sales and Other Operating Revenues | 4,064 |  | 7,004 |  | 16,807 |  | 16,470 |  | 44,345 |  | 30 |  | 44,375 |
Income (loss) from equity affiliates | (13) |  | 438 |  | 55 |  | 55 |  | 535 |  | 1 |  | 536 |
Other income (loss)(1) | 258 |  | (145) |  | 28 |  | (23) |  | 118 |  | (207) |  | (89) |
Total Revenues and Other Income | 4,309 |  | 7,297 |  | 16,890 |  | 16,502 |  | 44,998 |  | (176) |  | 44,822 |
Intersegment product transfers(2) | 5,415 |  | 782 |  | (6,071) |  | (134) |  | (8) |  | 8 |  | — |
Less expenses: |  |  |  |  |  |  |
Purchased crude oil and products | 3,284 |  | 2,173 |  | 7,787 |  | 13,614 |  | 26,858 |  | — |  | 26,858 |
Operating and SG&A expenses | 2,082 |  | 1,300 |  | 2,137 |  | 1,506 |  | 7,025 |  | 621 |  | 7,646 |
Depreciation, depletion and amortization | 2,142 |  | 1,824 |  | 243 |  | 75 |  | 4,284 |  | 60 |  | 4,344 |
Other costs and deductions(3) | 362 |  | 363 |  | 178 |  | 619 |  | 1,522 |  | 305 |  | 1,827 |
Total Costs and Other Deductions | 7,870 |  | 5,660 |  | 10,345 |  | 15,814 |  | 39,689 |  | 986 |  | 40,675 |
Income Tax Expense (Benefit) | 431 |  | 1,107 |  | 70 |  | 204 |  | 1,812 |  | (180) |  | 1,632 |
Less: Net income (loss) attributable to non-controlling interests | 5 |  | 3 |  | — |  | 17 |  | 25 |  | — |  | 25 |
Net Income (Loss) Attributable to Chevron Corporation | $ | 1,418 |  | $ | 1,309 |  | $ | 404 |  | $ | 333 |  | $ | 3,464 |  | $ | (974) |  | $ | 2,490 |
Values have been adjusted for eliminations, unless otherwise specified.
(1) Includes interest income of $63 in “All Other.”
(2) Valuation of product transfers between operating segments.
(3) Includes interest expense of $250 in “All Other.”
| Upstream | Downstream | Segment Total | All Other | Total
Six Months Ended June 30, 2026 | U.S. | Int'l. | U.S. | Int'l.
Sales and other operating revenues before elimination | $ | 28,811 |  | $ | 30,536 |  | $ | 47,304 |  | $ | 44,116 |  | $ | 150,767 |  | $ | 277 |  | $ | 151,044 |
Intersegment revenue elimination | (17,064) |  | (11,576) |  | (6,168) |  | (1,243) |  | (36,051) |  | (238) |  | (36,289) |
Sales and Other Operating Revenues | 11,747 |  | 18,960 |  | 41,136 |  | 42,873 |  | 114,716 |  | 39 |  | 114,755 |
Income (loss) from equity affiliates | (39) |  | 1,911 |  | 608 |  | 390 |  | 2,870 |  | — |  | 2,870 |
Other income (loss)(1) | 19 |  | 504 |  | 30 |  | 248 |  | 801 |  | 236 |  | 1,037 |
Total Revenues and Other Income | 11,727 |  | 21,375 |  | 41,774 |  | 43,511 |  | 118,387 |  | 275 |  | 118,662 |
Intersegment product transfers(2) | 15,263 |  | 5,798 |  | (17,238) |  | (3,958) |  | (135) |  | 135 |  | — |
Less expenses: |  |  |  |  |  |  |
Purchased crude oil and products | 8,103 |  | 8,162 |  | 15,656 |  | 32,951 |  | 64,872 |  | — |  | 64,872 |
Operating and SG&A expenses | 4,518 |  | 2,844 |  | 4,848 |  | 3,706 |  | 15,916 |  | 1,669 |  | 17,585 |
Depreciation, depletion and amortization | 5,963 |  | 5,105 |  | 517 |  | 148 |  | 11,733 |  | 157 |  | 11,890 |
Other costs and deductions(3) | 956 |  | 671 |  | 277 |  | 958 |  | 2,862 |  | 823 |  | 3,685 |
Total Costs and Other Deductions | 19,540 |  | 16,782 |  | 21,298 |  | 37,763 |  | 95,383 |  | 2,649 |  | 98,032 |
Income Tax Expense (Benefit) | 1,687 |  | 3,950 |  | 631 |  | 234 |  | 6,502 |  | (379) |  | 6,123 |
Less: Net income (loss) attributable to non-controlling interests | 110 |  | 3 |  | — |  | 112 |  | 225 |  | — |  | 225 |
Net Income (Loss) Attributable to Chevron Corporation | $ | 5,653 |  | $ | 6,438 |  | $ | 2,607 |  | $ | 1,444 |  | $ | 16,142 |  | $ | (1,860) |  | $ | 14,282 |
Values have been adjusted for eliminations, unless otherwise specified.
(1) Includes interest income of $121 in “All Other.”
(2) Valuation of product transfers between operating segments.
(3) Includes interest expense of $628 in “All Other.”
| Upstream | Downstream | Segment Total | All Other | Total
Six Months Ended June 30, 2025 | U.S. | Int’l. | U.S. | Int’l.
Sales and other operating revenues before elimination | $ | 21,900 |  | $ | 19,153 |  | $ | 37,413 |  | $ | 35,540 |  | $ | 114,006 |  | $ | 269 |  | $ | 114,275 |
Intersegment revenue elimination | (13,433) |  | (4,131) |  | (3,789) |  | (2,226) |  | (23,579) |  | (220) |  | (23,799) |
Sales and Other Operating Revenues | 8,467 |  | 15,022 |  | 33,624 |  | 33,314 |  | 90,427 |  | 49 |  | 90,476 |
Income (loss) from equity affiliates | (21) |  | 1,152 |  | 205 |  | 27 |  | 1,363 |  | (7) |  | 1,356 |
Other income (loss)(1) | 284 |  | 75 |  | 77 |  | (16) |  | 420 |  | 180 |  | 600 |
Total Revenues and Other Income | 8,730 |  | 16,249 |  | 33,906 |  | 33,325 |  | 92,210 |  | 222 |  | 92,432 |
Intersegment product transfers(2) | 11,876 |  | 1,151 |  | (13,049) |  | (71) |  | (93) |  | 93 |  | — |
Less expenses: |  |  |  |  |  |  |
Purchased crude oil and products | 7,193 |  | 4,975 |  | 15,049 |  | 28,251 |  | 55,468 |  | — |  | 55,468 |
Operating and SG&A expenses | 4,205 |  | 2,557 |  | 4,392 |  | 2,770 |  | 13,924 |  | 1,362 |  | 15,286 |
Depreciation, depletion and amortization | 4,165 |  | 3,521 |  | 485 |  | 149 |  | 8,320 |  | 147 |  | 8,467 |
Other costs and deductions(3) | 748 |  | 620 |  | 349 |  | 1,181 |  | 2,898 |  | 583 |  | 3,481 |
Total Costs and Other Deductions | 16,311 |  | 11,673 |  | 20,275 |  | 32,351 |  | 80,610 |  | 2,092 |  | 82,702 |
Income Tax Expense (Benefit) | 1,009 |  | 2,513 |  | 75 |  | 326 |  | 3,923 |  | (220) |  | 3,703 |
Less: Net income (loss) attributable to non-controlling interests | 10 |  | 5 |  | — |  | 22 |  | 37 |  | — |  | 37 |
Net Income (Loss) Attributable to Chevron Corporation | $ | 3,276 |  | $ | 3,209 |  | $ | 507 |  | $ | 555 |  | $ | 7,547 |  | $ | (1,557) |  | $ | 5,990 |
Values have been adjusted for eliminations, unless otherwise specified.
(1) Includes interest income of $132 in “All Other.”
(2) Valuation of product transfers between operating segments.
(3) Includes interest expense of $442 in “All Other.”
Schedule of Segment Assets | Segment assets at June 30, 2026, and December 31, 2025, are as follows:
| At June 30, 2026 |  | At December 31, 2025
Segment Assets | (Millions of dollars)
Upstream |  |  |
United States | $ | 84,072 |  |  | $ | 84,559 |
International | 166,869 |  |  | 168,200 |
Goodwill | 4,216 |  |  | 4,216 |
Total Upstream | 255,157 |  |  | 256,975 |
Downstream |  |  |
United States | 36,028 |  |  | 33,745 |
International | 24,051 |  |  | 21,146 |
Goodwill | 352 |  |  | 352 |
Total Downstream | 60,431 |  |  | 55,243 |
Total Segment Assets | 315,588 |  |  | 312,218 |
All Other |  |  |
United States | 12,502 |  |  | 10,396 |
International | 2,045 |  |  | 1,398 |
Total All Other | 14,547 |  |  | 11,794 |
Total Assets — United States | 132,602 |  |  | 128,700 |
Total Assets — International | 192,965 |  |  | 190,744 |
Goodwill | 4,568 |  |  | 4,568 |
Total Assets | $ | 330,135 |  |  | $ | 324,012 |

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