CHEVRON CORP
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 24, 2026
CVX$211.22+0.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Financial Table of Contents
| Financial Table of Contents | Table of Contents |
|---|
| Management’s Discussion and Analysis of Financial Condition and Results of Operations | |
|---|---|
| Key Financial Results | 35 |
| Earnings by Major Operating Area | 35 |
| Business Environment and Outlook | 35 |
| Noteworthy Developments | 41 |
| Results of Operations | 42 |
| Consolidated Statement of Income | 44 |
| Selected Operating Data | 46 |
| Liquidity and Capital Resources | 47 |
| Financial Ratios and Metrics | 51 |
| Financial and Derivative Instrument Market Risk | 53 |
| Transactions With Related Parties | 54 |
| Litigation and Other Contingencies | 54 |
| Environmental Matters | 55 |
| Critical Accounting Estimates and Assumptions | 55 |
| New Accounting Standards | 59 |
| Quarterly Results | 60 |
| Consolidated Financial Statements | |
| Reports of Management | 61 |
| Report of Independent Registered Public Accounting Firm (PCAOB ID: 238) | 62 |
| Consolidated Statement of Income | 65 |
| Consolidated Statement of Comprehensive Income | 66 |
| Consolidated Balance Sheet | 67 |
| Consolidated Statement of Cash Flows | 68 |
| Consolidated Statement of Equity | 69 |
| Notes to the Consolidated Financial Statements | ||
|---|---|---|
| Note 1 | Summary of Significant Accounting Policies | 70 |
| Note 2 | Changes in Accumulated Other Comprehensive Losses | 73 |
| Note 3 | Information Relating to the Consolidated Statement of Cash Flows | 74 |
| Note 4 | New Accounting Standards | 75 |
| Note 5 | Lease Commitments | 75 |
| Note 6 | Summarized Financial Data - Chevron U.S.A. Inc. | 77 |
| Note 7 | Summarized Financial Data - Tengizchevroil LLP | 77 |
| Note 8 | Restructuring and Reorganization Costs | 77 |
| Note 9 | Fair Value Measurements | 78 |
| Note 10 | Financial and Derivative Instruments | 79 |
| Note 11 | Assets Held for Sale | 80 |
| Note 12 | Equity | 80 |
| Note 13 | Earnings Per Share | 80 |
| Note 14 | Operating Segments and Geographic Data | 81 |
| Note 15 | Investments and Advances | 84 |
| Note 16 | Litigation | 86 |
| Note 17 | Taxes | 88 |
| Note 18 | Properties, Plant and Equipment | 92 |
| Note 19 | Short-Term Debt | 92 |
| Note 20 | Long-Term Debt | 94 |
| Note 21 | Accounting for Suspended Exploratory Wells | 94 |
| Note 22 | Stock Options and Other Share-Based Compensation | 95 |
| Note 23 | Employee Benefit Plans | 97 |
| Note 24 | Other Contingencies and Commitments | 102 |
| Note 25 | Asset Retirement Obligations | 103 |
| Note 26 | Revenue | 104 |
| Note 27 | Other Financial Information | 104 |
| Note 28 | Financial Instruments - Credit Losses | 105 |
| Note 29 | Acquisition of Hess Corporation | 105 |
| Supplemental Information on Oil and Gas Producing Activities | 108 | |
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