v3.26.1
Operating Segments and Geographic Data (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Segment Sales and Other Operating Revenues
UpstreamDownstreamSegment TotalAll OtherTotal
Three months ended March 31, 2026U.S.Int’l.U.S.Int’l.
Sales and other operating revenues before elimination$12,842 $12,013 $18,801 $18,493 $62,149 $116 $62,265 
Intersegment revenue elimination(6,755)(4,921)(2,388)(543)(14,607)(102)(14,709)
Sales and Other Operating Revenues6,087 7,092 16,413 17,950 47,542 14 47,556 
Income (loss) from equity affiliates(6)608 152 (9)745 — 745 
Other income (loss)(1)
39 140 11 1 191 115 306 
Total Revenues and Other Income6,120 7,840 16,576 17,942 48,478 129 48,607 
Intersegment product transfers(2)
6,246 2,687 (6,883)(1,935)115 (115)— 
Less expenses:
Purchased crude oil and products3,744 3,172 6,495 14,854 28,265 — 28,265 
Operating and SG&A expenses2,468 1,427 2,578 1,700 8,173 551 8,724 
Depreciation, depletion and amortization2,887 2,524 258 73 5,742 66 5,808 
Other costs and deductions(3)
462 309 154 502 1,427 437 1,864 
Total Costs and Other Deductions9,561 7,432 9,485 17,129 43,607 1,054 44,661 
Income Tax Expense (Benefit)646 1,297 12 (144)1,811 (158)1,653 
Less: Net income (loss) attributable to non-controlling interests47 1 — 35 83 — 83 
Net Income (Loss) Attributable to Chevron Corporation$2,112 $1,797 $196 $(1,013)$3,092 $(882)$2,210 
Values have been adjusted for eliminations, unless otherwise specified.
  (1) Includes interest income of $50 in “All Other.”
(2) Valuation of product transfers between operating segments.
(3) Includes interest expense of $310 in “All Other.”
UpstreamDownstreamSegment TotalAll OtherTotal
Three months ended March 31, 2025U.S.Int’l.U.S.Int’l.
Sales and other operating revenues before elimination$11,515 $9,971 $18,705 $17,266 $57,457 $120 $57,577 
Intersegment revenue elimination(7,112)(1,953)(1,888)(422)(11,375)(101)(11,476)
Sales and Other Operating Revenues4,403 8,018 16,817 16,844 46,082 19 46,101 
Income (loss) from equity affiliates(8)714 150 (28)828 (8)820 
Other income (loss)(1)
26 220 49 7 302 387 689 
Total Revenues and Other Income4,421 8,952 17,016 16,823 47,212 398 47,610 
Intersegment product transfers(2)
6,461 369 (6,978)63 (85)85 — 
Less expenses:
Purchased crude oil and products3,909 2,802 7,262 14,637 28,610 — 28,610 
Operating and SG&A expenses2,123 1,257 2,255 1,264 6,899 741 7,640 
Depreciation, depletion and amortization2,023 1,697 242 74 4,036 87 4,123 
Other costs and deductions(3)
386 257 171 562 1,376 278 1,654 
Total Costs and Other Deductions8,441 6,013 9,930 16,537 40,921 1,106 42,027 
Income Tax Expense (Benefit)578 1,406 5 122 2,111 (40)2,071 
Less: Net income (loss) attributable to non-controlling interests5 2 — 5 12 — 12 
Net Income (Loss) Attributable to Chevron Corporation$1,858 $1,900 $103 $222 $4,083 $(583)$3,500 
Values have been adjusted for eliminations, unless otherwise specified.
 (1) Includes interest income of $69 in “All Other.”
(2) Valuation of product transfers between operating segments.
(3) Includes interest expense of $192 in “All Other.”
Schedule of Segment Assets Segment assets at March 31, 2026, and December 31, 2025, are as follows: 
At March 31,
2026		At December 31,
2025
Segment Assets(Millions of dollars)
Upstream
United States $84,549 $84,559 
International 168,234 168,200 
Goodwill4,216 4,216 
Total Upstream256,999 256,975 
Downstream
United States 34,890 33,745 
International26,275 21,146 
Goodwill352 352 
Total Downstream61,517 55,243 
Total Segment Assets318,516 312,218 
All Other
United States 8,845 10,396 
International2,190 1,398 
Total All Other11,035 11,794 
Total Assets — United States128,284 128,700 
Total Assets — International196,699 190,744 
Goodwill4,568 4,568 
Total Assets$329,551 $324,012