Chevron 2007 Annual Report Supplement

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�� Financial Information �� Financial Summary Millions of dollars, except per-share amounts 007 2006 2005 2004 2003 Net income $ 18,688 $ 17,138 $ 14,099 $ 13,328 $ 7,230 Sales and other operating revenues 1 214,091 204,892 193,641 150,865 119,575 Cash dividends – Common stock 4,791 4,396 3,778 3,236 3,033 Capital and exploratory expenditures 20,026 16,611 11,063 8,315 7,363 Cash provided by operating activities 24,977 24,323 20,105 14,690 12,315 At December 31: Working capital 5,579 7,895 9,325 9,708 3,315 Total assets 148,786 132,628 125,833 93,208 81,470 Total debt and capital lease obligations 7,232 9,838 12,870 11,272 12,597 Stockholders’ equity 77,088 68,935 62,676 45,230 36,295 Common shares outstanding (Millions) 2 2,076.3 2,150.4 2,218.5 2,093.0 2,124.1 Per-share data 2 Net income – Basic $ 8.83 $ 7.84 $ 6.58 $ 6.30 $ 3.48 – Diluted 8.77 7.80 6.54 6.28 3.48 Cash dividends 2.26 2.01 1.75 1.53 1.43 Stockholders’ equity at December 31 37.13 32.06 28.25 21.61 17.09 Market price at December 31 93.33 73.53 56.77 52.51 43.19 – High 95.50 76.20 65.98 56.07 43.49 – Low 64.99 53.76 49.81 41.99 30.65 Financial ratios 3 Current ratio 1.2 1.3 1.4 1.5 1.2 Interest coverage 69.2 53.5 47.5 47.6 24.3 Total debt to total debt-plus-equity 8.6% 12.5% 17.0% 19.9% 25.8% Return on average stockholders’ equity 25.6% 26.0% 26.1% 32.7% 21.3% Return on average capital employed 23.1% 22.6% 21.9% 25.8% 15.7% Return on average total assets 13.3% 13.2% 12.9% 15.3% 9.1% Cash dividends/net income (payout ratio) 25.6% 25.7% 26.8% 24.3% 42.0% Cash dividends/cash from operations 19.2% 18.1% 18.8% 22.0% 24.6% Total stockholder return 30.5% 33.8% 11.3% 25.5% 35.2% 1 Excludes $291 and $457 for discontinued operations for 2004 and 2003, respectively. 2 Amounts in all periods reflect a two-for-one stock split effected as a 100 percent stock dividend in September 2004. 3 Refer to page 67 for Financial Ratios definitions. Chevron Corporation 2007 Supplement to the Annual Report
Consolidated Statement of Income Year ended December 31 Millions of dollars 007 2006 2005 2004 2003 Revenues and Other Income Sales and Other Operating Revenues 1,2,3 Gasolines $ 47,074 $ 42,639 $ 39,491 $ 33,199 $ 25,820 Jet fuel 16,333 15,577 13,606 9,757 6,939 Gas oils and kerosene 32,170 31,647 27,572 21,086 16,556 Residual fuel oils 7,348 7,086 6,681 5,519 5,161 Other refined products 5,886 5,723 4,726 4,305 3,716 Total Refined Products 108,811 102,672 92,076 73,866 58,192 Crude oil and condensate 61,542 61,842 66,552 52,836 40,173 Natural gas 24,437 22,515 18,248 9,841 8,426 Natural gas liquids 4,483 3,488 3,211 2,632 2,208 Other petroleum revenues 2,460 2,862 3,145 2,321 2,551 Excise taxes 9,959 9,486 8,705 7,957 7,086 Total Upstream and Downstream 211,692 202,865 191,937 149,453 118,636 Chemicals 1,582 1,395 1,117 1,106 1,009 All Other 817 632 587 597 387 Less: Revenues from discontinued operations – – – (291) (457) Total Sales and Other Operating Revenues 214,091 204,892 193,641 150,865 119,575 Income from equity affiliates 4,144 4,255 3,731 2,582 1,029 Gain from exchange of Dynegy preferred stock – – – – 365 Other income 2,669 971 828 1,853 308 Total Revenues and Other Income 220,904 210,118 198,200 155,300 121,277 Costs and Other Deductions Purchased crude oil and products 3 133,309 128,151 127,968 94,419 71,310 Operating expenses 16,932 14,624 12,191 9,832 8,500 Selling, general and administrative expenses 5,926 5,093 4,828 4,557 4,440 Exploration expenses 1,323 1,364 743 697 570 Depreciation, depletion and amortization 4 8,708 7,506 5,913 4,935 5,326 Taxes other than on income 2 22,266 20,883 20,782 19,818 17,901 Interest and debt expense 166 451 482 406 474 Minority interests 107 70 96 85 80 Total Costs and Other Deductions 188,737 178,142 173,003 134,749 108,601 Income From Continuing Operations Before Income Tax Expense 32,167 31,976 25,197 20,551 12,676 Income tax expense 13,479 14,838 11,098 7,517 5,294 Income From Continuing Operations 18,688 17,138 14,099 13,034 7,382 Income From Discontinued Operations Income before cumulative effect of changes – – – 294 44 in accounting principles Cumulative effect of changes in accounting $ 18,688 $ 17,138 $ 14,099 $ 13,328 $ 7,426 principles, net of income tax5 – – – – (196) Net Income $ 18,688 $ 17,138 $ 14,099 $ 13,328 $ 7,230 1 2003 through 2006 conformed to 2007 presentation. 2 Includes excise, value-added and similar taxes: 3 Includes amounts for buy/sell contracts; associated costs are $ 0, $ 9,551 $ 8,7 19 $ 7,968 $ 7,095 in “Purchased crude oil and products”: $ – $ 6,725 $ 23,822 $ 18,650 $ 14,246 4 Includes $415, $44, $25, $90 and $254 in 2007, 2006, 2005, 2004 and 2003, respectively, for asset impairment charges. 5 Includes a net loss of $200 for the adoption of FASB Statement No. 143 (FAS 143), Accounting for Asset Retirement Obligations, and a gain of $4 for the company’s share of Dynegy’s cumulative effect for the adoption of EITF No. 02-3, Issues Involved in Accounting for Derivative Contracts Held for Trading Purposes and Contracts Involved in Energy Trading and Risk Management Activities. Financial Information �� Chevron Corporation 2007 Supplement to the Annual Report ��
Page 1 and 2: Energy Performance 2007 Supplement
Page 3: 2007 at a Glance Accomplishments Co
Page 7 and 8: Consolidated Balance Sheet At Decem
Page 9 and 10: Capital and Exploratory Expenditure
Page 11 and 12: Miscellaneous Data 007 2006 2005 20
Page 13 and 14: Highlights Worldwide net oil-equiva
Page 15 and 16: • Kazakhstan - Ramp-up of expande
Page 17 and 18: Kettleman Hills Chevron increased i
Page 19 and 20: • Jack, a 2004 discovery at Walke
Page 21 and 22: Development Drilling activity withi
Page 23 and 24: Development South Offshore Water In
Page 25 and 26: Asia-Pacific Major producing countr
Page 27 and 28: Kazakhstan Chevron is the largest p
Page 29 and 30: Thailand In the Gulf of Thailand, C
Page 31 and 32: Exploration The Ordos Basin blocks
Page 33 and 34: Remaining production from the Rokan
Page 35 and 36: Exploration During first-half 2007,
Page 37 and 38: Athabasca Oil Sands Project The com
Page 39 and 40: Production Total daily production i
Page 41 and 42: Major Development Projects 1 Maximu
Page 43 and 44: Net Oil-Equivalent Production 1 Yea
Page 45 and 46: Net Natural Gas Production 1 Year e
Page 47 and 48: Natural Gas Realizations 1 Year end
Page 49 and 50: Net Wells Completed * Year ended De
Page 51 and 52: Highlights Downstream is a key elem
Page 53 and 54: Marketing The Marketing organizatio
Page 55 and 56:
Transportation The company’s tran
Page 57 and 58:
Refining Capacity at Year-End 2007
Page 59 and 60:
Refined-Product Sales Year ended De
Page 61 and 62:
Chemicals ChEvRON CORPORATION Photo
Page 63 and 64:
Manufacturing and Research and Deve
Page 65 and 66:
Technology Chevron has three techno
Page 67 and 68:
Mining Chevron’s U.S.-based minin
Page 69 and 70:
Synthetic Crude Oil A marketable an
Page 71 and 72:
Chevron History 1879 Incorporated i
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Chevron 2007 Annual Report Supplement

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