Chevron 2007 Annual Report Supplement

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�� Financial Information �� Consolidated Statement of Comprehensive Income Year ended December 31 Millions of dollars 007 2006 2005 2004 2003 Net Income $ 18,688 $ 17,138 $ 14,099 $ 13,328 $ 7,230 Net unrealized holding gain (loss) on securities 19 (88) (32) (9) 80 Net derivatives (loss) gain on hedge transactions (6) 67 (131) (9) 75 Defined benefit plan activity – Gain (loss) 685 (38) 58 472 2 Currency translation adjustment 31 55 (5) 36 32 Other Comprehensive Gain (Loss), Net of Tax 729 (4) (110) 490 189 Comprehensive Income $ 19,417 $ 17,134 $ 13,989 $ 13,818 $ 7,419 Retained Earnings at January 1 $ 68,464 $ 55,738 $ 45,414 $ 35,315 $ 30,942 Net income 18,688 17,138 14,099 13,328 7,230 Cash dividends (4,791) (4,396) (3,778) (3,236) (3,033) Tax benefit from dividends paid on unallocated ESOP shares 3 3 3 7 6 Adoption of EITF 04-6, Accounting for Stripping Costs Incurred During Production in the Mining Industry – (19) – – – Adoption of FIN 48, Accounting for Uncertainty in Income Taxes (35) – – – – Exchange of Dynegy securities * – – – – 170 Retained Earnings at December 31 $ 82,329 $ 68,464 $ 55,738 $ 45,414 $ 35,315 * Represents the company’s share of a capital stock transaction of Dynegy, which under the applicable accounting rules was recorded directly to retained earnings. Income From Continuing Operations by Major Operating Area Year ended December 31 Millions of dollars 007 2006 2005 2004 2003 Upstream – United States $ 4,532 $ 4,270 $ 4,168 $ 3,868 $ 3,160 – International 10,284 8,872 7,556 5,622 3,199 Chevron Corporation 2007 Supplement to the Annual Report – Total 14,816 13,142 11,724 9,490 6,359 Downstream – United States 966 1,938 980 1,261 482 – International 2,536 2,035 1,786 1,989 685 – Total 3,502 3,973 2,766 3,250 1,167 Chemicals 396 539 298 314 69 All Other * (26) (516) (689) (20) (213) Income from continuing operations $ 18,688 $ 17,138 $ 14,099 $ 13,034 $ 7,382 Income from discontinued operations – Upstream – – – 294 44 Cumulative effect of changes in accounting principles – – – – (196) Net Income $ 18,688 $ 17,138 $ 14,099 $ 13,328 $ 7,230 * Includes mining operations, power generation businesses, worldwide cash management and debt financing activities, corporate administrative functions, insurance operations, real estate activities, alternative fuels, technology companies and the company’s interest in Dynegy prior to its sale in May 2007.
Consolidated Balance Sheet At December 31 Millions of dollars 007 2006 2005 2004 2003 Assets Cash and cash equivalents $ 7,362 $ 10,493 $ 10,043 $ 9,291 $ 4,266 Marketable securities 732 953 1,101 1,451 1,001 Accounts and notes receivable 22,446 17,628 17,184 12,429 9,722 Inventories Crude oil and petroleum products 4,003 3,586 3,182 2,324 2,003 Chemicals 290 258 245 173 173 Materials, supplies and other 1,017 812 694 486 472 Total inventories 5,310 4,656 4,121 2,983 2,648 Prepaid expenses and other current assets 3,527 2,574 1,887 2,349 1,789 Total Current Assets 39,377 36,304 34,336 28,503 19,426 Long-term receivables, net 2,194 2,203 1,686 1,419 1,493 Investments and advances 20,477 18,552 17,057 14,389 12,319 Properties, plant and equipment, at cost 154,084 137,747 127,446 103,954 100,556 Less: Accumulated depreciation, depletion and amortization 75,474 68,889 63,756 59,496 56,018 Net properties, plant and equipment 78,610 68,858 63,690 44,458 44,538 Deferred charges and other assets 3,491 2,088 4,428 4,277 2,594 Goodwill 4,637 4,623 4,636 – – Assets held for sale – – – 162 1,100 Total Assets $148,786 $132,628 $125,833 $ 93,208 $ 81,470 Liabilities and Stockholders’ Equity Short-term debt $ 1,162 $ 2,159 $ 739 $ 816 $ 1,703 Accounts payable 21,756 16,675 16,074 10,747 8,675 Accrued liabilities 5,275 4,546 3,690 3,410 3,172 Federal and other taxes on income 3,972 3,626 3,127 2,502 1,392 Other taxes payable 1,633 1,403 1,381 1,320 1,169 Total Current Liabilities 33,798 28,409 25,011 18,795 16,111 Long-term debt and capital lease obligations 6,070 7,679 12,131 10,456 10,894 Deferred credits and other noncurrent obligations 15,007 11,000 10,507 7,942 7,758 Noncurrent deferred income taxes 12,170 11,647 11,262 7,268 6,417 Reserves for employee benefit plans 4,449 4,749 4,046 3,345 3,727 Minority interests 204 209 200 172 268 Total Liabilities 71,698 63,693 63,157 47,978 45,175 Stockholders’ Equity 77,088 68,935 62,676 45,230 36,295 Total Liabilities and Stockholders’ Equity $148,786 $132,628 $125,833 $ 93,208 $ 81,470 Segment Assets Millions of dollars Upstream 1 $ 89,221 $ 77,194 $ 70,143 $ 43,108 $ 41,021 Downstream 42,865 36,374 34,567 29,506 26,981 Chemicals 3,354 3,400 3,179 2,983 2,827 Total Segment Assets $135,440 $ 116,968 $107,889 $ 75,597 $ 70,829 All Other 2 13,346 15,660 17,944 17,611 10,641 Total Assets $148,786 $132,628 $125,833 $ 93,208 $ 81,470 1 Includes $4,637, $4,623 and $4,636 of goodwill associated with the acquisition of Unocal Corporation in 2007, 2006 and 2005, respectively. 2 “All Other” assets consist primarily of worldwide cash, cash equivalents and marketable securities, real estate, information systems, the company’s investment in Dynegy prior to its disposition in 2007, mining operations, power generation businesses, technology companies and assets of the corporate administrative functions. Financial Information Chevron Corporation 2007 Supplement to the Annual Report
Page 1 and 2: Energy Performance 2007 Supplement
Page 3 and 4: 2007 at a Glance Accomplishments Co
Page 5: Consolidated Statement of Income Ye
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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