A 1 2 3 4 5 Excess of FIFO cost over the carrying value (i.e., LIFO cost) of inventories 6 Chevron Corporation Schedule of Ancillary Inventory Information $ millions, except per share amounts B 7 LIFO profits (losses) on inventory drawdowns included in earnings 8 Fiscal Years Ended: December 31, 2022 December 31, 2021 December 31, 2020 9,061 5,588 2,749 122 D 35 -147 1 2 3 A 4 5 Sales and other operating revenues 6 Income (loss) from equity affiliates 7 Other income 8 Total Revenues and Other Income 9 Costs and Other Deductions 10 Cost of sales 11 Operating expenses 12 Selling, general and administrative expenses 13 Exploration expenses Chevron Corporation Consolidated Income Statements $ millions, except per share amounts Fiscal Years Ended: December 31, 2022 December 31, 2021 December 31, 2020 155,606 94,471 235,717 8,585 5,657 -472 1,950 1,202 693 246,252 162,465 94,692 14 Depreciation, depletion and amortization 15 Taxes other than on income 6 Interest and debt expense 17 Other components of net periodic benefit costs 18 Total Costs and Other Deductions B 19 20 Income (Loss) Before Income Tax Expense 21 Income Tax Expense (Benefit) 22 Net Income (Loss) 23 Less: Net income (loss) attributable to noncontrolling interests 24 Net Income (Loss) Attributable to Chevron Corporation 145,416 24,714 4,312 974 16,319 4,032 516 295 196,578 49,674 14,066 35,608 143 35,465 92,249 20,726 4,014 549 17,925 3,963 712 688 140,826 D 21,639 5,950 15,689 64 15,625 52,148 20,323 4,213 1,537 19,508 2,839 697 880 102,145 -7,453 -1,892 -5,561 -18 -5,543 ~34567 2 A 12 Long-term receivables, net 13 Investments and advances Chevron Corporation Consolidated Balance Sheets 5 Assets 6 Cash and cash equivalents 7 Marketable securities 8 Accounts and notes receivable 9 Inventories 10 Prepaid expenses and other current assets 11 Total Current Assets B S millions, except per share amounts Fiscal Years Ended: December 31, 2022 December 31, 2021 14 Properties, plant and equipment, net 15 Deferred charges and other assets 16 Goodwill 17 Assets held for sale 18 Total Assets 19 20 21 22 23 24 17,678 223 20,456 8,247 3,739 50,343 1,069 45,238 143.591 12,310 4,722 436 257,709 5,640 35 18,419 6,795 2,849 33,738 603 40,696 146,961 12,384 4,385 768 239,535 D Liabilities and Equity Short-term debt Accounts payable Accrued liabilities E Federal and other taxes on income Other taxes payable Total Current Liabilities Long-term debt 1 Deferred credits and other noncurrent obligations Noncurrent deferred income taxes Noncurrent employee benefit plans Total Liabilities Common stock Capital in excess of par value Retained earnings F Total Liabilities and Equity G 1,832 1,832 18,660 17,282 Accumulated other comprehensive losses Deferred compensation and benefit plan trust Treasury stock 190,024 165,546 -2,798 -3,889 -240 -240 -48,196 -41,464 Total Chevron Corporation Stockholders' Equity 159,282 139,067 Noncontrolling interests 960 873 160,242 139,940 Total Equity 1,964 256 18,955 16,454 7,486 6,972 4,381 1,700 1,422 1,409 34,208 26,791 21,375 31,113 20,396 20,778 17,131 14,665 4,357 6,248 97,467 99,595 257,709 239,535