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Hi there. I need help with the cash flow statement summary and cash flow statement analysis for Chevron. The cash flow summary needs to be
Hi there. I need help with the cash flow statement summary and cash flow statement analysis for Chevron. The cash flow summary needs to be from 2014-2016. I attached examples of both for your reference. Please let me know if you have any questions.
Thanks in advance.
28 to remain profitable and must continually invest in the acquisition of new resources. The company must also continually upgrade existing equipment due to increasing regulations on air and water quality, rising energy costs, and the invention of new technology. In 2010, ExxonMobil's capital expenditure cash outflows equaled $26.9 billion. In 2011, this amount increased to $31.0 billion and in 2012 it increased again to $34.3 billion. The average capital employed for these years ranged from $145.2 billion to $179.1 billion (ExxonMobil Corp., 2013). Total cash outflows as a result of investing activities equaled $25.6 billion in 2012. Net cash outflows from financing activities rose from 2010 to 2012 by $7.0 billion. Part of these increases were due to dividend payouts to shareholders, which increased by $1.6 billion. There were also sizable payments to long-term debt accounts totaling $4.5 billion in 2012. In 2011, the company increased its buy-back of common stock by $9.0 billion. Other minor impacts included the addition of both long-term and short-term debt from loans of $2.0 billion. Total net cash outflows from financing equaled $26.9 billion in 2010, $28.2 billion in 2011, and $33.9 billion in 2012. Chevron Corporation Chevron's net income increased in 2011 to $27.0 billion, then decreased slightly in 2012 to $26.3 billion. Depreciation and depletion accounts have remained consistent and were approximately 35% of total cash accounts from operating activities. The company saw an outflow of cash due to the sale of assets and discontinued operations in 2012 totaling $4.1 billion. This was caused by the divestiture of its mining division as well as the sale of assets in Nigeria and Australia. In 2011, Chevron also divested its Pembroke Refinery and ownership in Colonial Pipeline, creating greater cash outflows from devalued sales prices (Chevron Corporation). Deferred tax accounts improved net cash flows by $2.0 billion in 2012 as 29 compared to $1.6 billion in 2011 and $559 million in 2010. Total net cash provided through operating activities remained positive in 2012, but decreased slightly by $2.3 billion. From 2010 to 2012, net cash from operating activities has increased overall by 24% or $7.1 billion. As with ExxonMobil, Chevron's primary source of cash outflow is caused by capital investments. In 2010, the company experienced a cash outflow of $19.6 billion in this category. In 2011, investing in fixed assets increased to $26.5 billion and in 2013 to $31.0 billion. The majority of these expenditures occurred in Chevron's upstream operations with the purchase of Atlas Energy. In 2012, Chevron advanced $403 million to purchase 49% interest in Laurel Mountain Midstream LLC. Chevron spent a total of $8.5 billion within the United States and $21.9 billion internationally on growth projects in 2012 (Chevron Corporation, 2013). Total capital investment for the company in 2012 was $34.2 billion as compared to $29.1 billion in 2011 and $21.8 billion in 2010 respectively. The company sees that this trend will continue into 2013 with its continued investment into its Gorgon and Wheatstone exploration and production projects (Chevron Corporation). In 2013, Chevron gained $1.6 billion as a result of an upstream asset exchange on Gorgon and the sale of equity interest in the Wheatstone Project. In 2012, there was a $3.3 billion increase to cash outflows in investing activities as a result of sales of time deposits. This account category consists of bank time deposits with maturities greater than 90 days. Other changes to Chevron's investing activities included an inflow of cash from the sale of property, plant, and equipment in 2011 of $3.5 billion and in 2012 of $2.8 billion. Total cash outflows resulting from investment increased by 17% or $3.9 billion from 2010 to 2012 (Chevron Corporation, 2013). In 2012, Chevron increased its cash through the addition of long-term debt by $4.0 billion. Between 2010 and 2011, Chevron issued tax exempt bonds for its Downstream Refinery 30 Project, which it noted as proceeds from issuance of long-term debt. The company also paid back existing loans in the amount of $2.2 billion during this time. Cash dividends paid to shareholders increased over the three year period by $1.1 billion or 19% respectively. Chevron used a portion of its available cash to repurchase stock. In 2011, it bought back $3.2 billion in common stock and in 2012 it purchased an additional $4.1 billion. Total net cash outflows used in financing activities increased from $5.6 billion to $11.8 billion in 2011, then decreased to $9.0 billion in 2012. ConocoPhillips ConocoPhillips had a steady decline in net income between 2010 and 2012, reducing its cash flow by $2.9 billion. The company's notes and accounts receivable declined by $1.5 billion over these past three years. Depreciation and depletion accounts remained relatively unchanged from 2011 to 2012 at $6.7 billion on average. Unlike ExxonMobil or Chevron, ConocoPhillips realized a gain from its sale of assets and discontinued operations in 2010 of $1.9 billion and again in 2011 for $379 million. In 2012, the company saw a slight loss in asset sales of $553 million. The company also experienced a reduction in its gain on dispositions in 2011 by 93% due primarily to its divestiture of LUKOIL. In 2012, there was a significant change in gain on dispositions of $1.3 billion resulting from the company's Vietnam business, equity investment in Naryanmarneftegaz (NMNG), and its North Sea assets (ConocoPhillips, 2013). ConocoPhillips' total cash from operating activities increased from 2010 to 2011 by $2.6 billion as a result of higher net income. In 2012, this amount decreased by almost $7.0 billion due to lower net income and lower notes and accounts receivable. Total net cash from ConocoPhillips' operating activities declined from $17.0 billion in 2010 to $13.9 billion in 2012. 54 Chevron Corporation (CVX) ConsolidatedStatement of Cash Flow Millions of dollars 2012 Cash Flows From Operating Activities Net Income Including Noncontrolling Interests Adjustments for Noncash Transactions Deprecitation and Depletion Impairments Deferred Income Tax Charges/Credits Postretirement Benefits Expense in Excess of/Less than Net Payments Dry Hole Expense Other Long-term Obligation Provisions in Excess of/Less than Net Paments Dividends Received Greater than/Less than Equity in Current Earnings Gains on Dispositions Net Foreign Currency Effects Changes in Operational Working Cap. Excluding Can and Debt Notes and Accounts Receivable Inventories Prepaid Expenses and Other Current Assets Accounts and Other Payables Loss (Gain) on Asset Retirements, Sales, and Discontinued Operations All Other Items - Net Net Cash Provided By Operating Activities Cash Flows From Investing Activities *Purchase of Atlas by Chevron Capital Expendatures Proceeds Associated with Sales of Subsidiaries, Property, Plant, & Equip Repayment of Loans Decrease/Increase in Restricted Cash and Cash Equivalents Additional Investments and Advances Collection of Advances Additions/Sales of Marketable Securities Additions/Sales of Time Deposits Other Net Cash Used In Investing Activites % Cash Flow Statement 2011 % 2010 % Common-Size Income Statement 2012 2011 2010 Percentage Change Cash Flow Statement 2012 2011 26,336 67.86% 27,008 65.72% 19,136 61.03% 67.86% 65.72% 61.03% -2.49% 41.14% 13,413 0 2,015 (1,228) 555 1,047 (1,351) 0 207 34.56% 0.00% 5.19% -3.16% 1.43% 2.70% -3.48% 0.00% 0.53% 12,911 0 1,589 (1,467) 377 341 (570) 0 (103) 31.42% 0.00% 3.87% -3.57% 0.92% 0.83% -1.39% 0.00% -0.25% 13,063 0 559 (1,450) 496 48 (501) 0 251 41.66% 0.00% 1.78% -4.62% 1.58% 0.15% -1.60% 0.00% 0.80% 34.56% 0.00% 5.19% -3.16% 1.43% 2.70% -3.48% 0.00% 0.53% 31.42% 0.00% 3.87% -3.57% 0.92% 0.83% -1.39% 0.00% -0.25% 41.66% 0.00% 1.78% -4.62% 1.58% 0.15% -1.60% 0.00% 0.80% 3.89% #DIV/0! 26.81% -16.29% 47.21% 207.04% 137.02% #DIV/0! -300.97% -1.16% #DIV/0! 184.26% 1.17% -23.99% 610.42% 13.77% #DIV/0! -141.04% (150) -0.37% 0 0.00% 2,318 5.64% 0 0.00% (1,495) -3.64% 336 0.82% 41,095 100.00% (12) 0 76 0 (1,004) 692 31,354 -0.04% 0.00% 0.24% 0.00% -3.20% 2.21% 100.00% -0.44% 0.00% 0.94% 0.00% -10.54% 4.41% 100.00% -0.37% 0.00% 5.64% 0.00% -3.64% 0.82% 100.00% -0.04% 0.00% 0.24% 0.00% -3.20% 2.21% 100.00% 12.67% #DIV/0! -84.34% #DIV/0! 173.51% 409.82% -5.56% 1150.00% #DIV/0! 2950.00% #DIV/0! 48.90% -51.45% 31.07% (169) -0.44% 0 0.00% 363 0.94% 0 0.00% (4,089) -10.54% 1,713 4.41% 38,812 100.00% 0 (30,938) 2,777 328 0 (210) 0 (3) 3,250 0 (24,796) 0.00% -79.71% 7.16% 0.85% 0.00% -0.54% 0.00% -0.01% 8.37% 0.00% -63.89% (3,009) (26,500) 3,517 339 0 (658) 0 (74) (1,104) 0 (27,489) -7.32% -64.48% 8.56% 0.82% 0.00% -1.60% 0.00% -0.18% -2.69% 0.00% -66.89% 0 (19,612) 1,995 338 0 (732) 0 (49) (2,855) 0 (20,915) 0.00% -62.55% 6.36% 1.08% 0.00% -2.33% 0.00% -0.16% -9.11% 0.00% -66.71% 0.00% -79.71% 7.16% 0.85% 0.00% -0.54% 0.00% -0.01% 8.37% 0.00% -63.89% -7.32% -64.48% 8.56% 0.82% 0.00% -1.60% 0.00% -0.18% -2.69% 0.00% -66.89% 0.00% -62.55% 6.36% 1.08% 0.00% -2.33% 0.00% -0.16% -9.11% 0.00% -66.71% -100.00% 16.75% -21.04% -3.24% #DIV/0! -68.09% #DIV/0! -95.95% -394.38% #DIV/0! -9.80% #DIV/0! 35.12% 76.29% 0.30% #DIV/0! -10.11% #DIV/0! 51.02% -61.33% #DIV/0! 31.43% Cash Flows From Financing Activities *Special Cash Distribution from Phillips 66 Additions to Long-Term Debt Reductions to Long-Term Debt Additions to Short-Term Debt Reductions to Short-Term Debt Additions/Reductions in Debt with 3 mths or Less Maturity Cash Dividends to Shareholders Cash Dividends to Noncontrolling Interests Changes to Noncontrolling Interests Tax Benefits Related to Stock-based Awards Common Stock Acquired Common Stock Sold Other Net Cash From Discontinued Operations Net Cash Used In Financing Activites Effects of Exchange Rate Changes on Cash Increase/Decrease in Cash and Cash Equivalents 4,007 (2,224) 264 0 0 (6,844) (41) 0 0 (4,142) 0 0 0 (8,980) 39 5,075 10.32% -5.73% 0.68% 0.00% 0.00% -17.63% -0.11% 0.00% 0.00% -10.67% 0.00% 0.00% 0.00% -23.14% 0.10% 13.08% 377 (2,769) 23 0 0 (6,136) (71) 0 0 (3,193) 0 0 0 (11,769) (33) 1,804 0.92% -6.74% 0.06% 0.00% 0.00% -14.93% -0.17% 0.00% 0.00% -7.77% 0.00% 0.00% 0.00% -28.64% -0.08% 4.39% 1,250 (156) (212) 0 0 (5,669) (72) 0 0 (306) 0 0 0 (5,165) 70 5,344 3.99% -0.50% -0.68% 0.00% 0.00% -18.08% -0.23% 0.00% 0.00% -0.98% 0.00% 0.00% 0.00% -16.47% 0.22% 17.04% 10.32% -5.73% 0.68% 0.00% 0.00% -17.63% -0.11% 0.00% 0.00% -10.67% 0.00% 0.00% 0.00% -23.14% 0.10% 13.08% 0.92% -6.74% 0.06% 0.00% 0.00% -14.93% -0.17% 0.00% 0.00% -7.77% 0.00% 0.00% 0.00% -28.64% -0.08% 4.39% 3.99% -0.50% -0.68% 0.00% 0.00% -18.08% -0.23% 0.00% 0.00% -0.98% 0.00% 0.00% 0.00% -16.47% 0.22% 17.04% #DIV/0! 962.86% -19.68% 1047.83% #DIV/0! #DIV/0! 11.54% -42.25% #DIV/0! #DIV/0! 29.72% #DIV/0! #DIV/0! #DIV/0! -23.70% -218.18% 181.32% #DIV/0! -69.84% 1675.00% -110.85% #DIV/0! #DIV/0! 8.24% -1.39% #DIV/0! #DIV/0! 943.46% #DIV/0! #DIV/0! #DIV/0! 127.86% -147.14% -66.24% Cash and Cash Equivalents at Beginning of Year Cash and Cash Equivalents at End of Year 15,864 20,939 40.87% 53.95% 14,060 15,864 34.21% 38.60% 27.80% 44.84% 40.87% 53.95% 34.21% 38.60% 27.80% 44.84% 12.83% 31.99% 61.31% 12.83% 8,716 14,060Step by Step Solution
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