I am having trouble with the 2015 and 2016 statements balancing on the FSAP. Could you take a look at it and tell what is wrong and correct it?

Financial Statement Analysis Package (FSAP) A Comment on Entering Financial Statement Data: Analyst Name: Company Name: Year (Most recent in far right column.) BALANCE SHEET DATA Cash Marketable Securities Accounts Receivable - Trade Inventories Other Current Assets (1) Other Current Assets (2) CURRENT ASSETS Long Term Investments in Securities Property, Plant, & Equipment - at cost Accumulated Depreciation Amortizable Intangible Assets (net) Goodwill and Nonamort. Intangibles Other Non-Current Assets (1) Other Non-Current Assets (2) TOTAL ASSETS Accounts Payable - Trade Notes Payable and Short Term Debt Current Maturities of Long Term Debt Other Current Liabilities (1) Other Current Liabilities (2) CURRENT LIABILITIES Long Term Debt Deferred Taxes Other Non-Current Liabilities (1) Other Non-Current Liabilities (2) TOTAL LIABILITIES Minority Interest in Subsidiaries Preferred Stock Common Stock + Paid in Capital Retained Earnings Effie Denise Miller Chevron Corporation 2011 2012 15,864 4,207 21,793 5,543 5,827 20,939 974 20,997 6,144 6,666 2013 2014 16,245 271 21,622 6,380 5,732 12,785 430 16,736 6,505 5,776 53,234 55,720 50,250 42,232 25,101 26,771 28,335 29,729 233,432 263,481 296,433 327,289 -110,824 -122,133 -131,604 -144,116 4,642 3,889 4,640 4,503 4,639 5,700 4,593 6,299 209,474 22,147 340 232,982 22,776 127 253,753 22,815 374 266,026 19,000 3,790 4,584 6,529 33,600 9,684 19,181 15,544 9,284 87,293 799 4,341 6,968 34,212 11,966 21,502 17,672 9,798 95,150 1,308 3,092 6,737 33,018 19,960 22,982 21,301 6,065 103,326 1,314 2,575 6,561 31,926 23,960 23,549 21,920 8,480 109,835 1,163 16,988 140,399 17,329 159,730 17,545 173,677 17,873 184,987 Accum. Other Comprehensive Income Other Equity Adjustments Treasury Stock SHAREHOLDERS' EQUITY TOTAL LIABILITIES AND EQUITIES -6,022 -298 -29,685 122,181 209,474 -6,369 -282 -33,884 137,832 232,982 -3,579 -240 -38,290 150,427 253,753 -4,859 -240 -42,733 156,191 266,026 INCOME STATEMENT DATA Revenues Cost of Goods Sold Gross Profit Selling, General, and Admin. Expense Other Operating Expenses (1) Other Operating Expenses (2) Other Operating Expenses (3) Other Operating Income Non-Recurring Operating Gains Non-Recurring Operating Losses Operating Profit Interest Income Interest Expense Other Income or Gains Unusual Income or Gains Other Expenses or Losses Unusual Expenses or Losses Income before Tax Income Tax Expense Minority Interest in Earnings Income from Discontinued Ops. Extraordinary Gains (Losses) Changes in Acctg. Principles NET INCOME (computed) Net Income (enter reported amount as a check) Other Comprehensive Income Items COMPREHENSIVE INCOME 251,734 237,479 227,683 207,592 -149,923 -140,766 -134,696 -119,671 101,811 96,713 92,987 87,921 -4,745 -4,724 -4,510 -4,494 -21,649 -22,570 -24,627 -25,285 -12,911 -13,413 -14,186 -16,793 -1,216 -1,728 -1,861 -1,985 1,972 4,430 1,165 4,378 63,262 58,708 48,968 43,742 -15,628 -12,376 -13,063 -12,540 47,634 -20,626 -113 46,332 -19,996 -157 35,905 -14,308 -174 31,202 -11,892 -69 26,895 26,895 26,179 26,179 21,423 21,423 19,241 19,241 26,895 26,179 21,423 19,241 STATEMENT OF CASH FLOWS DATA NET INCOME Add back Depreciation and Amortization Exps. Other Addbacks to Net Income Other Subtractions from Net Income (Incr.) Decrease in Accts. Receivable - Trade (Incr.) Decrease in Inventories (Incr.) Decr. in Other Curr. Assets (1) (Incr.) Decr. in Other Curr. Assets (2) Incr. (Decr.) in Acct. Payable - Trade Incr. (Decr.) in Other Current Liabilities (1) Incr. (Decr.) in Other Current Liabilities (2) Incr. (Decr.) in Other Non-Current Liabs. (1) Incr. (Decr.) in Other Non-Current Liabs. (2) Other Operating Cash Flows NET CF FROM OPERATIONS Property, Plant, and Equipment Sold Property, Plant, and Equipment Acquired (Increase) Decrease in Marketable Securities Investments Sold Investments Acquired Other Investment Transactions (1) Other Investment Transactions (2) NET CF FROM INVESTING ACTIVITIES Increase in ST Borrowing Decrease in ST Borrowing Increase in LT Borrowing Decrease in LT Borrowing Issue of Capital Stock Share repurchases - Treasury Stock Dividend Payments Other Financing Transactions (1) Other Financing Transactions (2) NET CF FROM FINANCING ACTIVITIES Effects of exchange rate changes on cash NET CHANGE IN CASH 26,895 12,911 1,863 -1,952 26,179 13,413 2,777 -5,440 21,423 14,186 2,559 -1,920 19,241 16,793 2,447 -6,019 2,318 -150 363 -169 -1,331 183 -540 -9 341 -1,467 339 41,098 3,517 -29,912 1,047 -1,228 1,870 38,812 2,777 -30,938 -321 -1,194 1,417 35,002 1,143 -37,985 263 -392 -309 31,475 5,729 -35,407 -74 -1,104 339 -255 -27,489 23 -3 3,250 328 -210 -24,796 264 3 700 314 216 -35,609 2,378 -148 0 140 -207 -29,893 3,431 377 -2,769 4,007 -2,224 6,000 -132 4,000 -43 -3,193 -6,210 -4,142 -6,885 -4,494 -7,573 -4,412 -7,975 -11,772 -33 1,804 -8,980 39 5,075 -3,821 -266 -4,694 -4,999 -43 -3,460 SUPPLEMENTAL DATA Statutory Tax Rate Average Tax Rate After-tax Effects of Nonrecurring and Unusual Items on Net Income Preferred Stock Dividends (total, if any) Common Shares Outstanding Earnings per Share (basic) Common Dividends per Share Market Price per Share FINANCIAL DATA CHECKS Assets - Liabilities - Equities Net Income (computed) - Net Income (reported) Cash Changes 0.350 0.433 0.350 0.432 0.350 0.398 0.350 0.381 1,986 13.54 3.09 1,950 13.42 3.51 1,916 11.18 3.90 1,884 10.21 4.21 0 0 0 0 0 0 0 0 0 0 0 2015 2016 11,022 310 12,860 6,334 4,821 6,988 13 14,092 5,419 3,107 35,347 29,619 29,522 32,735 340,277 336,077 -151,881 -153,891 4,588 8,250 4,581 10,957 266,103 13,516 4,928 260,078 13,986 10,840 2,069 5,951 26,464 33,584 23,465 20,689 8,015 112,217 1,170 1,050 5,909 31,785 35,193 21,553 17,516 7,309 113,356 1,166 18,162 181,578 18,427 173,046 -4,291 -240 -42,493 153,886 266,103 -3,843 -240 -41,834 146,722 260,078 134,609 -69,751 64,858 -4,443 -23,034 -21,037 -3,340 3,868 112,876 -59,321 53,555 -4,684 -20,268 -19,457 -1,033 1,596 16,872 9,709 -12,030 -11,668 4,842 -132 -123 -1,959 -2,160 -66 4,587 4,587 -4,185 -497 4,587 -4,185 4,587 21,037 448 -4,057 -4,185 19,457 -3,346 -2,190 -1,979 -59 -550 -131 25 -868 322 19,456 5,739 -29,504 235 -870 8,420 2,777 -18,109 122 8 -217 44 -23,808 -335 297 0 -2,034 217 -16,852 2,130 11,091 -32 6,924 -1,584 211 -8,120 650 -8,095 2,815 -226 -1,763 25 -53 -8,460 0.350 0.027 0.350 -1.103 1,868 2.46 4.28 1,877 0.27 4.29 0 0 0 0 -3,688 -4,426 Financial Statement Analysis Package (FSAP) Analyst Name: Company Name: DATA CHECKS Assets - Liabilities - Equities Net Income (computed) - Net Income (reported) Cash Changes In the computations below, a #DIV/0! message indicates that a ratio denominator is zero. PROFITABILITY FACTORS: Year RETURN ON ASSETS (based on reported amounts): Profit Margin for ROA x Asset Turnover = Return on Assets RETURN ON ASSETS (excluding the effects of nonrecurring items): Profit Margin for ROA x Asset Turnover = Return on Assets RETURN ON COMMON EQUITY (based on reported amounts): Profit Margin for ROCE x Asset Turnover x Capital Structure Leverage = Return on Common Equity RETURN ON COMMON EQUITY (excluding the effects of nonrecurring items): Profit Margin for ROCE x Asset Turnover x Capital Structure Leverage = Return on Common Equity OPERATING PERFORMANCE: Gross Profit / Revenues Operating Profit / Revenues Net Income / Revenues Comprehensive Income / Revenues Gross Profit Control Index Operating Profit Contol Index PERSISTENT OPERATING PERFORMANCE (excluding the effects of nonrecurring items): Gross Profit / Revenues Persistent Operating Profit / Revenues Persistent Net Income / Revenues GROWTH: Revenue Growth Net Income Growth Persistent Net Income Growth RISK FACTORS: Year LIQUIDITY: Current Ratio Quick Ratio Operating Cash Flow to Current Liabilities ASSET TURNOVER: Accounts Receivable Turnover Days Receivables Held Inventory Turnover Days Inventory Held Accounts Payable Turnover Days Payables Held Net Working Capital Days Revenues / Average Net Fixed Assets Revenues/ Average Cash Days Sales Held in Cash SOLVENCY: Total Liabilities / Total Assets Total Liabilities / Shareholders' Equity LT Debt / LT Capital LT Debt / Shareholders' Equity Operating Cash Flow to Total Liabilities Interest Coverage Ratio (reported amounts) Interest Coverage ratio (recurring amounts) RISK FACTORS: Bankruptcy Predictors: Altman Z Score Bankruptcy Probability Earnings Manipulation Predictors: Beneish Earnings Manipulation Score Earnings Manipulation Probability STOCK MARKET-BASED RATIOS: Stock Returns Price-Earnings Ratio (reported amounts) Price-Earnings Ratio (recurring amounts) Market Value to Book Value Ratio INCOME STATEMENT ITEMS AS A PERCENT OF REVENUES: Year Revenues Cost of Goods Sold Gross Profit Selling, General, and Admin. Expense Other Operating Expenses (1) Other Operating Expenses (2) Other Operating Expenses (3) Other Operating Income Non-Recurring Operating Gains Non-Recurring Operating Losses Operating Profit Interest Income Interest Expense Other Income or Gains Unusual Income or Gains Other Expenses or Losses Unusual Expenses or Losses Income before Tax Income Tax Expense Minority Interest in Earnings Income from Discontinued Ops. Extraordinary Gains (Losses) Changes in Acctg. Principles NET INCOME (computed) Other Comprehensive Income Items COMPREHENSIVE INCOME INCOME STATEMENT ITEMS: GROWTH RATES Year Revenues Cost of Goods Sold Gross Profit Selling, General, and Admin. Expense Other Operating Expenses (1) Other Operating Expenses (2) Other Operating Expenses (3) Other Operating Income Non-Recurring Operating Gains Non-Recurring Operating Losses Operating Profit Interest Income Interest Expense Other Income or Gains Unusual Income or Gains Other Expenses or Losses Unusual Expenses or Losses Income before Tax Income Tax Expense Minority Interest in Earnings Income from Discontinued Ops. Extraordinary Gains (Losses) Changes in Acctg. Principles NET INCOME (computed) Other Comprehensive Income Items COMPREHENSIVE INCOME COMMON SIZE BALANCE SHEET - AS A PERCENT OF TOTAL ASSETS Year ASSETS: Cash Marketable Securities Accounts Receivable - Trade Inventories Other Current Assets (1) Other Current Assets (2) CURRENT ASSETS Long Term Investments in Securities Property, Plant, & Equipment - at cost Accumulated Depreciation Amortizable Intangible Assets (net) Goodwill and Nonamort. Intangibles Other Non-Current Assets (1) Other Non-Current Assets (2) TOTAL ASSETS LIABILITIES: Accounts Payable - Trade Notes Payable and Short Term Debt Current Maturities of Long Term Debt Other Current Liabilities (1) Other Current Liabilities (2) CURRENT LIABILITIES Long Term Debt Deferred Taxes Other Non-Current Liabilities (1) Other Non-Current Liabilities (2) TOTAL LIABILITIES Minority Interest in Subsidiaries Preferred Stock Common Stock + Paid in Capital Retained Earnings Accum. Other Comprehensive Income Other Equity Adjustments Treasury Stock SHAREHOLDERS' EQUITY TOTAL LIABILITIES AND EQUITIES BALANCE SHEET ITEMS: GROWTH RATES Year ASSETS: Cash Marketable Securities Accounts Receivable - Trade Inventories Other Current Assets (1) Other Current Assets (2) CURRENT ASSETS Long Term Investments in Securities Property, Plant, & Equipment - at cost Accumulated Depreciation Amortizable Intangible Assets (net) Goodwill and Nonamort. Intangibles Other Non-Current Assets (1) Other Non-Current Assets (2) TOTAL ASSETS Accounts Payable - Trade Notes Payable and Short Term Debt Current Maturities of Long Term Debt Other Current Liabilities (1) Other Current Liabilities (2) CURRENT LIABILITIES Long Term Debt Deferred Taxes Other Non-Current Liabilities (1) Other Non-Current Liabilities (2) TOTAL LIABILITIES Minority Interest in Subsidiaries Preferred Stock Common Stock + Paid in Capital Retained Earnings Accum. Other Comprehensive Income Other Equity Adjustments Treasury Stock SHAREHOLDERS' EQUITY TOTAL LIABILITIES AND EQUITIES RETURN ON ASSETS ANALYSIS (excluding the effects of non-recurring items) Level 1 Level 2 Level 3 Revenues Cost of Goods Sold Selling, Gen., & Admin. Expense Other Operating Expenses (1) Other Operating Expenses (2) Other Operating Expenses (3) Operating Profit Interest Income Other Income, Gains, Expenses, and Losses Income before Tax Income Tax Expense Profit Margin for ROA* * Amounts may not sum due to rounding. RETURN ON COMMON SHAREHOLDERS' EQUITY ANALYSIS (excluding the effects of non-recurring items) RETURN ON COMMON SHA PROFIT MARGIN FOR ROCE ASSET TURNOVER CAPITAL STRUCTURE LEVERAGE s Package (FSAP) Effie Denise Miller Chevron Corporation 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2012 2013 2014 2015 2016 11.1% 1.1 11.9% 9.5% 0.9 8.9% 9.3% 0.8 7.4% 3.5% 0.5 1.8% -3.6% 0.4 -1.6% 11.1% 1.1 11.9% 9.5% 0.9 8.9% 9.3% 0.8 7.4% 3.5% 0.5 1.8% -3.6% 0.4 -1.6% 11.0% 1.1 1.7 20.3% 9.4% 0.9 1.7 15.0% 9.3% 0.8 1.7 12.7% 3.4% 0.5 1.7 3.0% -3.7% 0.4 1.8 -2.8% 11.0% 1.1 1.7 20.3% 9.4% 0.9 1.7 15.0% 9.3% 0.8 1.7 12.7% 3.4% 0.5 1.7 3.0% -3.7% 0.4 1.8 -2.8% 40.7% 24.7% 40.8% 21.5% 42.4% 21.1% 48.2% 12.5% 47.4% 8.6% ator is zero. 11.0% 11.0% 100.7% 98.4% 9.4% 9.4% 100.3% 87.0% 9.3% 9.3% 103.7% 98.0% 3.4% 3.4% 113.8% 59.5% -3.7% -3.7% 98.5% 68.6% 40.7% 24.7% 11.0% 40.8% 21.5% 9.4% 42.4% 21.1% 9.3% 48.2% 12.5% 3.4% 47.4% 8.6% -3.7% -5.7% -2.7% -2.7% -4.1% -18.2% -18.2% -8.8% -10.2% -10.2% -35.2% -76.2% -76.2% -16.1% -191.2% -191.2% rring items): 2012 2013 2014 2015 2016 1.63 1.25 114.5% 1.52 1.16 104.1% 1.32 0.94 96.9% 1.34 0.91 66.6% 0.93 0.66 28.9% 11.1 33 24.1 15 6.3 58 -10 1.8 12.9 28.3 10.7 34 21.5 17 5.9 62 -11 1.5 12.2 29.8 10.8 34 18.6 20 5.7 64 -10 1.2 14.3 25.5 9.1 40 10.9 34 4.3 85 -12 0.7 11.3 32.3 8.4 44 10.1 36 4.2 86 -6 0.6 12.5 29.1 40.8% 69.0% 8.0% 8.7% 42.5% #DIV/0! #DIV/0! 40.7% 68.7% 11.7% 13.3% 35.3% #DIV/0! #DIV/0! 41.3% 70.3% 13.3% 15.3% 29.5% #DIV/0! #DIV/0! 42.2% 72.9% 17.9% 21.8% 17.5% #DIV/0! #DIV/0! 43.6% 77.3% 19.3% 24.0% 7.5% #DIV/0! #DIV/0! 2.75 0.30% 2.40 0.81% 2.19 1.44% 1.56 5.92% 1.33 9.16% -2.76 0.29% -2.69 0.36% -2.95 0.16% -3.01 0.13% -2.55 0.54% #DIV/0! 0.00 0.00 0.0 #DIV/0! 0.00 0.00 0.0 #DIV/0! 0.00 0.00 0.0 #DIV/0! 0.00 0.00 0.0 #DIV/0! 0.00 0.00 0.0 2012 2013 2014 2015 2016 100.0% -59.3% 40.7% 100.0% -59.2% 40.8% 100.0% -57.6% 42.4% 100.0% -51.8% 48.2% 100.0% -52.6% 47.4% -2.0% -9.5% -5.6% -0.7% 1.9% 0.0% 0.0% 24.7% -2.0% -10.8% -6.2% -0.8% 0.5% 0.0% 0.0% 21.5% -2.2% -12.2% -8.1% -1.0% 2.1% 0.0% 0.0% 21.1% -3.3% -17.1% -15.6% -2.5% 2.9% 0.0% 0.0% 12.5% -4.1% -18.0% -17.2% -0.9% 1.4% 0.0% 0.0% 8.6% 0.0% 0.0% 0.0% 0.0% -5.2% 0.0% 19.5% 0.0% 0.0% 0.0% 0.0% -5.7% 0.0% 15.8% 0.0% 0.0% 0.0% 0.0% -6.0% 0.0% 15.0% 0.0% 0.0% 0.0% 0.0% -8.9% 0.0% 3.6% 0.0% 0.0% 0.0% 0.0% -10.3% 0.0% -1.7% -8.4% -0.1% 0.0% 0.0% 0.0% 11.0% 0.0% 11.0% -6.3% -0.1% 0.0% 0.0% 0.0% 9.4% 0.0% 9.4% -5.7% 0.0% 0.0% 0.0% 0.0% 9.3% 0.0% 9.3% -0.1% -0.1% 0.0% 0.0% 0.0% 3.4% 0.0% 3.4% -1.9% -0.1% 0.0% 0.0% 0.0% -3.7% 0.0% -3.7% 2012 2013 2014 2015 YEAR TO YEAR CHANGES IN PERCENT -5.7% -4.1% -8.8% -35.2% -6.1% -4.3% -11.2% -41.7% -5.0% -3.9% -5.4% -26.2% 2016 COMPOUND GROWTH RATE -16.1% -14.8% -15.0% -16.9% -17.4% -12.1% -0.4% 4.3% 3.9% 42.1% 124.6% #DIV/0! #DIV/0! -7.2% -4.5% 9.1% 5.8% 7.7% -73.7% #DIV/0! #DIV/0! -16.6% -0.4% 2.7% 18.4% 6.7% 275.8% #DIV/0! #DIV/0! -10.7% -1.1% -8.9% 25.3% 68.3% -11.6% #DIV/0! #DIV/0! -61.4% 5.4% -12.0% -7.5% -69.1% -58.7% #DIV/0! #DIV/0! -42.5% -0.3% -1.3% 8.5% -3.2% -4.1% #DIV/0! #DIV/0! -31.3% #DIV/0! #DIV/0! #DIV/0! #DIV/0! -20.8% #DIV/0! -2.7% #DIV/0! #DIV/0! #DIV/0! #DIV/0! 5.6% #DIV/0! -22.5% #DIV/0! #DIV/0! #DIV/0! #DIV/0! -4.0% #DIV/0! -13.1% #DIV/0! #DIV/0! #DIV/0! #DIV/0! -4.1% #DIV/0! -84.5% #DIV/0! #DIV/0! #DIV/0! #DIV/0! -3.0% #DIV/0! -140.5% #DIV/0! #DIV/0! #DIV/0! #DIV/0! -5.7% #DIV/0! -152.8% -3.1% 38.9% #DIV/0! #DIV/0! #DIV/0! -2.7% #DIV/0! -2.7% -28.4% 10.8% #DIV/0! #DIV/0! #DIV/0! -18.2% #DIV/0! -18.2% -16.9% -60.3% #DIV/0! #DIV/0! #DIV/0! -10.2% #DIV/0! -10.2% -98.9% 78.3% #DIV/0! #DIV/0! #DIV/0! -76.2% #DIV/0! -76.2% 1536.4% -46.3% #DIV/0! #DIV/0! #DIV/0! -191.2% #DIV/0! -191.2% -36.3% -10.2% #DIV/0! #DIV/0! #DIV/0! -168.9% #DIV/0! -168.9% 2012 2013 2014 2015 2016 9.0% 0.4% 9.0% 2.6% 2.9% 0.0% 23.9% 11.5% 113.1% -52.4% 0.0% 2.0% 1.9% 0.0% 100.0% 6.4% 0.1% 8.5% 2.5% 2.3% 0.0% 19.8% 11.2% 116.8% -51.9% 0.0% 1.8% 2.2% 0.0% 100.0% 4.8% 0.2% 6.3% 2.4% 2.2% 0.0% 15.9% 11.2% 123.0% -54.2% 0.0% 1.7% 2.4% 0.0% 100.0% 4.1% 0.1% 4.8% 2.4% 1.8% 0.0% 13.3% 11.1% 127.9% -57.1% 0.0% 1.7% 3.1% 0.0% 100.0% 2.7% 0.0% 5.4% 2.1% 1.2% 0.0% 11.4% 12.6% 129.2% -59.2% 0.0% 1.8% 4.2% 0.0% 100.0% 9.8% 0.1% 0.0% 1.9% 3.0% 14.7% 5.1% 9.2% 7.6% 4.2% 40.8% 9.0% 0.1% 0.0% 1.2% 2.7% 13.0% 7.9% 9.1% 8.4% 2.4% 40.7% 7.1% 1.4% 0.0% 1.0% 2.5% 12.0% 9.0% 8.9% 8.2% 3.2% 41.3% 5.1% 1.9% 0.0% 0.8% 2.2% 9.9% 12.6% 8.8% 7.8% 3.0% 42.2% 5.4% 4.2% 0.0% 0.4% 2.3% 12.2% 13.5% 8.3% 6.7% 2.8% 43.6% 0.6% 0.0% 7.4% 68.6% -2.7% -0.1% -14.5% 59.2% 100.0% 0.5% 0.0% 6.9% 68.4% -1.4% -0.1% -15.1% 59.3% 100.0% 0.4% 0.0% 6.7% 69.5% -1.8% -0.1% -16.1% 58.7% 100.0% 0.4% 0.0% 6.8% 68.2% -1.6% -0.1% -16.0% 57.8% 100.0% 0.4% 0.0% 7.1% 66.5% -1.5% -0.1% -16.1% 56.4% 100.0% 2012 2013 2014 2015 YEAR TO YEAR CHANGES IN PERCENT 32.0% -22.4% -21.3% -13.8% -76.8% -72.2% 58.7% -27.9% -3.7% 3.0% -22.6% -23.2% 10.8% 3.8% 2.0% -2.6% 14.4% -14.0% 0.8% -16.5% #DIV/0! #DIV/0! #DIV/0! #DIV/0! 4.7% -9.8% -16.0% -16.3% 6.7% 5.8% 4.9% -0.7% 12.9% 12.5% 10.4% 4.0% 10.2% 7.8% 9.5% 5.4% #DIV/0! #DIV/0! #DIV/0! #DIV/0! 0.0% 0.0% -1.0% -0.1% 15.8% 26.6% 10.5% 31.0% #DIV/0! #DIV/0! #DIV/0! #DIV/0! 11.2% 8.9% 4.8% 0.0% 2016 COMPOUND GROWTH RATE -36.6% -15.1% -95.8% -68.5% 9.6% -8.4% -14.4% -0.5% -35.6% -11.8% #DIV/0! #DIV/0! -16.2% -11.1% 10.9% 5.5% -1.2% 7.6% 1.3% 6.8% #DIV/0! #DIV/0! -0.2% -0.3% 32.8% 23.0% #DIV/0! #DIV/0! -2.3% 4.4% 2.8% -62.6% #DIV/0! -5.3% 6.7% 1.8% 23.6% 12.1% 13.7% 5.5% 9.0% 0.2% 194.5% #DIV/0! -28.8% -3.3% -3.5% 66.8% 6.9% 20.5% -38.1% 8.6% -16.7% 913.4% #DIV/0! -16.7% -2.6% -3.3% 20.0% 2.5% 2.9% 39.8% 6.3% -28.9% 30.0% #DIV/0! -19.7% -9.3% -17.1% 40.2% -0.4% -5.6% -5.5% 2.2% 3.5% 120.0% #DIV/0! -49.3% -0.7% 20.1% 4.8% -8.1% -15.3% -8.8% 1.0% -8.8% 99.9% #DIV/0! -25.5% -2.0% -1.1% 29.4% 2.4% 2.4% -4.7% 5.4% 63.7% #DIV/0! 2.0% 13.8% 5.8% -5.4% 14.1% 12.8% 11.2% 0.5% #DIV/0! 1.2% 8.7% -43.8% -14.9% 13.0% 9.1% 8.9% -11.5% #DIV/0! 1.9% 6.5% 35.8% 0.0% 11.6% 3.8% 4.8% 0.6% #DIV/0! 1.6% -1.8% -11.7% 0.0% -0.6% -1.5% 0.0% -0.3% #DIV/0! 1.5% -4.7% -10.4% 0.0% -1.6% -4.7% -2.3% 7.9% #DIV/0! 1.6% 4.3% -8.6% -4.2% 7.1% 3.7% 4.4% RETURN ON ASSETS 2014 2015 2016 7.4% 1.8% -1.6% PROFIT MARGIN FOR ROA 2014 2015 2016 9.3% 3.5% -3.6% ASSET TURNOVER 2014 2015 0.8 0.5 2016 0.4 2014 100.0% -57.6% -2.2% -12.2% -8.1% -1.0% 21.1% 0.0% -6.0% 15.0% -5.8% 2015 100.0% -51.8% -3.3% -17.1% -15.6% -2.5% 12.5% 0.0% -8.9% 3.6% -0.2% 2016 100.0% -52.6% -4.1% -18.0% -17.2% -0.9% 8.6% 0.0% -10.3% -1.7% -2.0% 2014 10.8 18.6 1.2 2016 8.4 Receivables 10.1 Inventory 0.6 Fixed Assets 9.3% 3.4% -3.7% effects of non-recurring items) RETURN ON COMMON SHAREHOLDERS' EQUITY 2014 2015 2016 12.7% 3.0% -2.8% 2014 9.3% 0.8 1.7 2015 3.4% 0.5 1.7 2016 -3.7% 0.4 1.8 2015 9.1 10.9 0.7 12 Months Ended Dec. 31, 2015 Document and Entity Information - USD ($) Document and Entity Information [Abstract] Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Document Fiscal Year Focus Document Fiscal Period Focus Current Fiscal Year End Date Entity Well-known Seasoned Issuer Entity Voluntary Filers Entity Current Reporting Status Entity Filer Category Entity Public Float Entity Common Stock, Shares Outstanding Feb. 15, 2016 CHEVRON CORP 93,410 10-K Dec. 31, 2015 false 2,015 FY --12-31 Yes No Yes Large Accelerated Filer 1,883,156,295 Jun. 30, 2015 $ 181,530,939,081 Consolidated Statement of Income - USD ($) $ in Millions Revenues and Other Income Sales and other operating revenues Income from equity affiliates Other income Total Revenues and Other Income Costs and Other Deductions Purchased crude oil and products Operating expenses Selling, general and administrative expenses Exploration expenses Depreciation, depletion and amortization Taxes other than on income Total Costs and Other Deductions Income Before Income Tax Expense Income Tax Expense Net Income Less: Net income attributable to noncontrolling interests Net Income Attributable to Chevron Corporation Net Income Attributable to Chevron Corporation - Basic (per share) - Diluted (per share) [1] [2] [3] [4] nsolidated Statement of Income - USD ($) $ in Millions [1] [2],[3] [1] [4] Includes excise, value-added and similar taxes. $7,359; $8,186; $8,492. Depreciation expense includes accretion expense of $715, $882 and $627 in 2015, 2014 and 2013, respectively Other than the United States, Australia and Nigeria, no other country accounted for 10 percent or more of the company's properties, plant andofequipment (PP&E) in 2015. Australia had $49,205, $41,012 $31,464 instock-based 2015, 2014,awards and 2013, re There was no effect dividend equivalents paid on stock units or dilutive impactand of employee on earn 12 Months Ended Dec. 31, 2015 Dec. 31, 2014 Dec. 31, 2013 $ 129,925 4,684 3,868 138,477 $ 200,494 7,098 4,378 211,970 $ 220,156 7,527 1,165 228,848 69,751 23,034 4,443 3,340 21,037 12,030 133,635 4,842 132 4,710 123 $ 4,587 119,671 25,285 4,494 1,985 16,793 12,540 180,768 31,202 11,892 19,310 69 $ 19,241 134,696 24,627 4,510 1,861 14,186 13,063 192,943 35,905 14,308 21,597 174 $ 21,423 $ 2.46 $ 2.45 $ 10.21 $ 10.14 $ 11.18 $ 11.09 4 and 2013, respectively percent or more of the company's net 31,464 2015, 2014,awards and 2013, respectively. ployeeinstock-based on earnings. Consolidated Statement of Income (Parenthetical) - USD ($) $ in Millions Income Statement [Abstract] Includes excise, value-added and similar taxes 12 Months Ended Dec. 31, 2015 Dec. 31, 2014 $ 7,359 $ 8,186 Dec. 31, 2013 $ 8,492 Consolidated Statement of Comprehensive Income - USD ($) $ in Millions Statement of Comprehensive Income [Abstract] Net Income Currency translation adjustment Unrealized net change arising during period Unrealized holding loss on securities Net loss arising during period Derivatives Net derivatives loss on hedge transactions Reclassification to net income of net realized (gain) loss Income taxes on derivatives transactions Total Actuarial gain (loss) Amortization to net income of net actuarial loss and settlements Actuarial gain (loss) arising during period Prior service credits (cost) Amortization to net income of net prior service costs (credits) and curtailments Prior service credits (costs) arising during period Defined benefit plans sponsored by equity affiliates Income taxes on defined benefit plans Total Other Comprehensive Gain (Loss), Net of Tax Comprehensive Income Comprehensive income attributable to noncontrolling interests Comprehensive Income Attributable to Chevron Corporation 12 Months Ended Dec. 31, 2015 Dec. 31, 2014 Dec. 31, 2013 $ 4,710 $ 19,310 $ 21,597 (44) (73) 42 (21) (2) (7) 0 0 0 0 (66) (17) 29 (54) (111) (1) 39 (73) 794 109 757 (2,730) 866 3,379 30 6 30 (336) 633 568 5,278 (123) $ 5,155 26 (6) (99) 901 (1,151) (1,280) 18,030 (69) $ 17,961 (27) 60 164 (1,614) 2,828 2,790 24,387 (174) $ 24,213 Consolidated Balance Sheet - USD ($) $ in Milli Assets Cash and cash equivalents Time deposits Marketable securities Accounts and notes receivable (less allowance: 2015 - $313; 2014 - $59) Inventories: Crude oil and petroleum products Chemicals Materials, supplies and other Total inventories Prepaid expenses and other current assets Total Current Assets Long-term receivables, net Investments and advances Properties, plant and equipment, at cost Less: Accumulated depreciation, depletion and amortization Properties, plant and equipment, net Deferred charges and other assets Goodwill Assets held for sale Total Assets Liabilities and Equity Short-term debt Accounts payable Accrued liabilities Federal and other taxes on income Other taxes payable Total Current Liabilities Long-term debt Capital lease obligations Deferred credits and other noncurrent obligations Noncurrent deferred income taxes Noncurrent employee benefit plans Total Liabilities Preferred stock (authorized 100,000,000 shares; $1.00 par value; none issued) Common stock (authorized 6,000,000,000 shares; $0.75 par value; 2,442,676,580 shares issued at December 31, 2015 and 2014) Capital in excess of par value Retained earnings Accumulated other comprehensive loss Deferred compensation and benefit plan trust Treasury stock, at cost (2015 - 559,862,580 shares; 2014 - 563,027,772 shares) Total Chevron Corporation Stockholders' Equity Noncontrolling interests Total Equity Total Liabilities and Equity [1] [2] [3] Balance Sheet - USD ($) $ in Millions [1] [2] [2] 2014 conformed to 2015 presentation Other than the United States, Australia and Nigeria, no other country accounted for 10 percent or more of the company's properties, plant to and equipment (PP&E) in 2015. Australia had $49,205, $41,012 and $31,464 in 2015, 2014, and 2013, re 2014 conformed 2015 presentation Dec. 31, 2015 Dec. 31, 2014 $ 11,022 0 310 12,860 $ 12,785 8 422 16,736 3,535 490 2,309 6,334 4,821 35,347 2,412 27,110 340,277 151,881 188,396 6,801 4,588 1,449 266,103 3,854 467 2,184 6,505 5,776 42,232 2,817 26,912 327,289 144,116 183,173 6,299 4,593 [3] 0 266,026 [3] 4,928 13,516 4,833 2,069 1,118 26,464 33,584 80 23,465 20,689 7,935 112,217 0 1,832 3,790 19,000 5,328 2,575 1,233 31,926 23,960 68 23,549 21,920 8,412 109,835 0 1,832 16,330 181,578 (4,291) (240) (42,493) 152,716 1,170 153,886 16,041 184,987 (4,859) (240) (42,733) 155,028 1,163 156,191 $ 266,103 $ 266,026 percent or more of the company's net 31,464 in 2015, 2014, and 2013, respectively. Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions Statement of Financial Position [Abstract] Allowance for accounts and notes receivable, current Preferred stock, par value (usd per share) Preferred stock, shares authorized Preferred stock, shares issued Common stock, par value (usd per share) Common stock, shares authorized Common stock, shares issued Treasury stock, shares Dec. 31, 2015 $ 313 $1 100,000,000 0 $ 0.75 6,000,000,000 2,442,676,580 559,862,580 Dec. 31, 2014 $ 59 $1 100,000,000 0 $ 0.75 6,000,000,000 2,442,676,580 563,027,772 Consolidated Statement of Cash Flows - USD ($) $ in Millions Operating Activities Net Income Adjustments Depreciation, depletion and amortization Dry hole expense Distributions less than income from equity affiliates Net before-tax gains on asset retirements and sales Net foreign currency effects Deferred income tax provision Net increase in operating working capital (Increase) decrease in long-term receivables Decrease (increase) in other deferred charges Cash contributions to employee pension plans Other Net Cash Provided by Operating Activities Investing Activities Capital expenditures Proceeds and deposits related to asset sales Net maturities of time deposits Net sales (purchases) of marketable securities Net (borrowing) repayment of loans by equity affiliates Net sales (purchases) of other short-term investments Net Cash Used for Investing Activities Financing Activities Net (repayments) borrowings of short-term obligations Proceeds from issuances of long-term debt Repayments of long-term debt and other financing obligations Cash dividends - common stock Distributions to noncontrolling interests Net sales (purchases) of treasury shares Net Cash Provided by (Used for) Financing Activities Effect of Exchange Rate Changes on Cash and Cash Equivalents Net Change in Cash and Cash Equivalents Cash and Cash Equivalents at January 1 Cash and Cash Equivalents at December 31 [1] [2] lidated Statement of Cash Flows - USD ($) $ in Millions [1],[2] Depreciation expense includes accretion expense of $715, $882 and $627 in 2015, 2014 and 2013, respectively Other than the United States, Australia and Nigeria, no other country accounted for 10 percent or more of the company's properties, plant and equipment (PP&E) in 2015. Australia had $49,205, $41,012 and $31,464 in 2015, 2014, and 2013, re 12 Months Ended Dec. 31, 2015 Dec. 31, 2014 Dec. 31, 2013 $ 4,710 $ 19,310 $ 21,597 21,037 2,309 (760) (3,215) (82) (1,861) (1,979) (59) 25 (868) 199 19,456 16,793 875 (2,202) (3,540) (277) 1,572 (540) (9) 263 (392) (378) 31,475 14,186 683 (1,178) (639) (103) 1,876 (1,331) 183 (321) (1,194) 1,243 35,002 (29,504) 5,739 8 122 (217) 44 (23,808) (35,407) 5,729 0 (148) 140 (207) (29,893) (37,985) 1,143 700 3 314 216 (35,609) (335) 11,091 (32) (7,992) (128) 211 2,815 (226) (1,763) 12,785 $ 11,022 3,431 4,000 (43) (7,928) (47) (4,412) (4,999) (43) (3,460) 16,245 $ 12,785 2,378 6,000 (132) (7,474) (99) (4,494) (3,821) (266) (4,694) 20,939 $ 16,245 4 and 2013, respectively percent or more of the company's net 31,464 in 2015, 2014, and 2013, respectively. Consolidated Statement of Equity - USD ($) shares in Thousands, $ in Millions Balance at January 1, shares at Dec. 31, 2012 Balance at January 1 at Dec. 31, 2012 Increase (Decrease) in Stockholders' Equity [Roll Forward] Net income attributable to Chevron Corporation Cash dividends on common stock Stock dividends Tax (charge) benefit from dividends paid on unallocated ESOP shares and other Change during year Net reduction of ESOP debt and other Purchases, shares Purchases Issuances - mainly employee benefit plans, shares Issuances - mainly employee benefit plans Balance at December 31, shares at Dec. 31, 2013 Balance at December 31 at Dec. 31, 2013 Increase (Decrease) in Stockholders' Equity [Roll Forward] Net income attributable to Chevron Corporation Cash dividends on common stock Stock dividends Tax (charge) benefit from dividends paid on unallocated ESOP shares and other Change during year Net reduction of ESOP debt and other Purchases, shares Purchases Issuances - mainly employee benefit plans, shares Issuances - mainly employee benefit plans Balance at December 31, shares at Dec. 31, 2014 Balance at December 31 at Dec. 31, 2014 Increase (Decrease) in Stockholders' Equity [Roll Forward] Net income attributable to Chevron Corporation Cash dividends on common stock Stock dividends Tax (charge) benefit from dividends paid on unallocated ESOP shares and other Change during year Net reduction of ESOP debt and other Purchases, shares Purchases Issuances - mainly employee benefit plans, shares Issuances - mainly employee benefit plans Balance at December 31, shares at Dec. 31, 2015 Balance at December 31 at Dec. 31, 2015 [1] Total $ 21,423 [1] 2,790 150,427 19,241 [1] (1,280) 156,191 4,587 [1] 568 $ 153,886 There was no effect of dividend equivalents paid on stock units or dilutive impact of employee stock-based awards on earn Parent [Member] Preferred Stock Common Stock Capital in Excess of Par $ 15,497 216 $ 149,113 0 $0 2,442,677 $ 1,832 15,713 328 155,028 0 $0 2,442,677 $ 1,832 16,041 289 $ 152,716 ee stock-based awards on earnings. 0 $0 2,442,677 $ 1,832 $ 16,330 Retained Earnings Accumulated Other Comprehensive Loss $ 159,730 Currency translation adjustment $ (65) 21,423 (7,474) (3) 1 42 173,677 $ (3,579) (23) 19,241 (7,928) (3) 0 (73) 184,987 (4,859) (96) 4,587 (7,992) (3) (1) (44) $ 181,578 $ (4,291) $ (140) Unrealized net holding (loss) gain on securities $1 (7) (6) (2) (8) (21) $ (29) Net derivatives (loss) gain on hedge transactions $ 125 (73) 52 (54) (2) 0 $ (2) Pension and other postretirement benefit plans $ (6,430) 2,828 (3,602) (1,151) (4,753) 633 $ (4,120) Deferred Compensation and Benefit Plan Trust Deferred Compensation $ (42) 42 14,168 $ (240) 0 0 14,168 $ (240) 0 0 14,168 $ (240) $0 Benefit Plan Trust (Common Stock) Treasury Stock at Cost Noncontrolling Interests 495,979 $ (33,884) $ 1,308 14,168 $ (240) 41,676 $ (5,004) (8,581) $ 598 529,074 $ (38,290) 1,314 14,168 $ (240) 41,592 $ (5,006) (7,638) $ 563 563,028 $ (42,733) 1,163 14,168 $ (240) 15 $ (2) (3,180) $ 242 559,863 $ (42,493) $ 1,170 Summary of Significant Accounting Policies Accounting Policies [Abstract] Summary of Significant Accounting Policies 12 Months Ended Dec. 31, 2015 Summary of Significant Accounting Policies General The company's Consolidated Financial Statements are prepared in accordance with accounting principles generally accepted in the United States of America. These require the use of estimates and assumptions that affect the assets, liabilities, revenues and expenses reported in the financial statements, as well as amounts included in the notes thereto, including discussion and disclosure of contingent liabilities. Although the company uses its best estimates and judgments, actual results could differ from these estimates as future confirming events occur. Subsidiary and Affiliated Companies The Consolidated Financial Statements include the accounts of controlled subsidiary companies more than 50 percent-owned and any variable-interest entities in which the company is the primary beneficiary. Undivided interests in oil and gas joint ventures and certain other assets are consolidated on a proportionate basis. Investments in and advances to affiliates in which the company has a substantial ownership interest of approximately 20 percent to 50 percent, or for which the company exercises significant influence but not control over policy decisions, are accounted for by the equity method. As part of that accounting, the company recognizes gains and losses that arise from the issuance of stock by an affiliate that results in changes in the company's proportionate share of the dollar amount of the affiliate's equity currently in income. Investments in affiliates are assessed for possible impairment when events indicate that the fair value of the investment may be below the company's carrying value. When such a condition is deemed to be other than temporary, the carrying value of the investment is written down to its fair value, and the amount of the writedown is included in net income. In making the determination as to whether a decline is other than temporary, the company considers such factors as the duration and extent of the decline, the investee's financial performance, and the company's ability and intention to retain its investment for a period that will be sufficient to allow for any anticipated recovery in the investment's market value. The new cost basis of investments in these equity investees is not changed for subsequent recoveries in fair value. Differences between the company's carrying value of an equity investment and its underlying equity in the net assets of the affiliate are assigned to the extent practicable to specific assets and liabilities based on the company's analysis of the various factors giving rise to the difference. When appropriate, the company's share of the affiliate's reported earnings is adjusted quarterly to reflect the difference between these allocated values and the affiliate's historical book values. Fair Value Measurements The three levels of the fair value hierarchy of inputs the company uses to measure the fair value of an asset or a liability are as follows. Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or liability. Level 3 inputs are inputs that are not observable in the market. Derivatives The majority of the company's activity in derivative commodity instruments is intended to manage the financial risk posed by physical transactions. For some of this derivative activity, generally limited to large, discrete or infrequently occurring transactions, the company may elect to apply fair value or cash flow hedge accounting. For other similar derivative instruments, generally because of the Changes in Accumulated Other Comprehensive Losses Equity [Abstract] Changes in Accumulated Other Comprehensive Losses 12 Months Ended Dec. 31, 2015 Changes in Accumulated Other Comprehensive Losses The change in Accumulated Other Comprehensive Losses (AOCL) presented on the Consolidated Balance Sheet and the impact of significant amounts reclassified from AOCL on information presented in the Consolidated Statement of Income for the year ending December 31, 2015 , are reflected in the table below. Year Ended December 31, 2015 1 Currency Translation Adjustment Unrealized Holding Gains (Losses) on Securities Derivatives Defined Benefit Plans Total Balance at January 1 $ (96 ) $ (8 ) $ (2 ) $ (4,753 ) $ (4,859 ) Components of Other Comprehensive Income (Loss): Before Reclassifications (44 ) (21 ) 126 61 Reclassifications 2 507 507 Net Other Comprehensive Income (Loss) (44 ) (21 ) 633 568 Balance at December 31 $ (140 ) $ (29 ) $ (2 ) $ (4,120 ) $ (4,291 ) 1 All amounts are net of tax. 2 Refer to Note 23 beginning on page FS-51, for reclassified components totaling $824 that are included in employee benefit costs for the year ending December 31, 2015 . Related income taxes for the same period, totaling $317 , are reflected in Income Tax Expense on the Consolidated Statement of Income. All other reclassified amounts were insignificant. Noncontrolling Interests Noncontrolling Interest [Abstract] Noncontrolling Interests 12 Months Ended Dec. 31, 2015 Noncontrolling Interests Ownership interests in the company's subsidiaries held by parties other than the parent are presented separately from the parent's equity on the Consolidated Balance Sheet. The amount of consolidated net income attributable to the parent and the noncontrolling interests are both presented on the face of the Consolidated Statement of Income. The term \"earnings\" is defined as \"Net Income Attributable to Chevron Corporation.\" Activity for the equity attributable to noncontrolling interests for 2015 , 2014 and 2013 is as follows: 2015 2014 2013 Balance at January 1 $ 1,163 $ 1,314 $ 1,308 Net income 123 69 174 Distributions to noncontrolling interests (128 ) (47 ) (99 ) Other changes, net 12 (173 ) (69 ) Balance at December 31 $ 1,170 $ 1,163 $ 1,314 Information Relating to the Consolidated Statement of Cash Flows Supplemental Cash Flow Elements [Abstract] Information Relating to the Consolidated Statement of Cash Flows 12 Months Ended Dec. 31, 2015 Information Relating to the Consolidated Statement of Cash Flows Year ended December 31 2015 2014 2013 Net increase in operating working capital was composed of the following: Decrease (increase) in accounts and notes receivable $ 3,631 $ 4,491 $ (1,101 ) Decrease (increase) in inventories 85 (146 ) (237 ) Decrease (increase) in prepaid expenses and other current assets 713 (407 ) 834 (Decrease) increase in accounts payable and accrued liabilities (5,769 ) (3,737 ) 160 Decrease in income and other taxes payable (639 ) (741 ) (987 ) Net increase in operating working capital $ (1,979 ) $ (540 ) $ (1,331 ) Net cash provided by operating activities includes the following cash payments for income taxes: Income taxes $ 4,645 $ 10,562 $ 12,898 Net sales (purchases) of marketable securities consisted of the following gross amounts: Marketable securities purchased $ (6 ) $ (162 ) $ (7 ) Marketable securities sold 128 14 10 Net sales (purchases) of marketable securities $ 122 $ (148 ) $ 3 Net maturities of time deposits consisted of the following gross amounts: Investments in time deposits $ $ (317 ) $ (2,317 ) Maturities of time deposits 8 317 3,017 Net maturities of time deposits $ 8 $ $ 700 Net (repayments) borrowings of short-term obligations consisted of the following gross and net amounts: Proceeds from issuances of shortterm obligations $ 13,805 $ 9,070 $ 1,551 Repayments of short-term obligations (16,379 ) (4,612 ) (375 ) Net borrowings (repayments) of short-term obligations with three months or less maturity 2,239 (1,027 ) 1,202 Net (repayments) borrowings of short-term obligations $ (335 ) $ 3,431 $ 2,378 The \" Net increase in operating working capital \" includes reductions of $17 , $58 and $79 for excess income tax benefits associated with stock options exercised during 2015 , 2014 and 2013 , respectively. These amounts are offset by an equal amount in \" Net sales (purchases) of treasury shares .\" "Other" includes changes in postretirement benefits obligations and other long-term liabilities. The \" Net sales (purchases) of treasury shares \" represents the cost of common shares acquired less the cost of shares issued for share-based compensation plans. Purchases totaled $2 , $5,006 and $5,004 in 2015 , 2014 and 2013 , respectively. No purchases were made under the company's share repurchase program in 2015 . In 2014 and 2013 , the company purchased 41.5 million and 41.6 million common shares for $5,000 and $5,000 under its share repurchase program, respectively. In 2015 , 2014 and 2013 , \" Net sales (purchases) of other short-term investments \" generally consisted of restricted cash associated with upstream abandonment activities, tax payments, and funds held in escrow for tax-deferred exchanges and asset acquisitions and divestitures that was invested in cash and short-term securities and reclassified from \"Cash and cash equivalents\" to \"Deferred charges and other assets\" on the Consolidated Balance Sheet. The Consolidated Statement of Cash Flows excludes changes to the Consolidated Balance Sheet that did not affect cash. "Depreciation, depletion and amortization," "Dry hole expense" and "Deferred income tax provision" collectively include approximately $3,700 in noncash reductions to properties, plant and equipment recorded in 2015 relating to impairments and project suspensions and associated adverse tax effects, primarily as a result of downward revisions in the company's longer-term crude oil price outlook. Refer also to Note 25, on page FS-59, for a discussion of revisions to the company's AROs that also did not involve cash receipts or payments New Accounting Standards Accounting Standards [Abstract] New Accounting Standards 12 Months Ended Dec. 31, 2015 New Accounting Standards Revenue Recognition (Topic 606), Revenue from Contracts with Customers (ASU 2014-09) In July 2015, the FASB approved a one-year deferral of the effective date of ASU 2014-09, which becomes effective for the company January 1, 2018. Early adoption is permitted at the original effective date of January 1, 2017. The standard provides a single comprehensive revenue recognition model for contracts with customers, eliminates most industryspecific revenue recognition guidance, and expands disclosure requirements. The company is evaluating the effect of the standard on its consolidated financial statements. The company does not intend to proceed with early adoption. Income Taxes (Topic 740), Balance Sheet Classification of Deferred Taxes (ASU 2015-17) In November 2015, FASB issued ASU 2015-17, which becomes effective for the company January 1, 2017. Early adoption is permitted. The standard provides that all deferred income taxes be classified as noncurrent on the balance sheet. The current requirement is to classify most deferred tax assets and liabilities based on the classification of the underlying asset or liability. Adoption of the standard will not have an impact on the company's results of operations or liquidity. Lease Commitments Leases [Abstract] Lease Commitments 12 Months Ended Dec. 31, 2015 Lease Commitments Certain noncancelable leases are classified as capital leases, and the leased assets are included as part of \"Properties, plant and equipment, at cost\" on the Consolidated Balance Sheet. Such leasing arrangements involve crude oil production and processing equipment, service stations, bareboat charters, office buildings, and other facilities. Other leases are classified as operating leases and are not capitalized. The payments on operating leases are recorded as expense. Details of the capitalized leased assets are as follows: At December 31 2015 2014 Upstream $ 800 $ 765 Downstream 98 97 All Other Total 898 862 Less: Accumulated amortization 448 381 Net capitalized leased assets $ 450 $ 481 Rental expenses incurred for operating leases during 2015 , 2014 and 2013 were as follows: Year ended December 31 2015 2014 2013 Minimum rentals $ 1,041 $ 1,080 $ 1,049 Contingent rentals 2 1 1 Total 1,043 1,081 1,050 Less: Sublease rental income 9 14 25 Net rental expense $ 1,034 $ 1,067 $ 1,025 Contingent rentals are based on factors other than the passage of time, principally sales volumes at leased service stations. Certain leases include escalation clauses for adjusting rentals to reflect changes in price indices, renewal options ranging up to 25 years, and options to purchase the leased property during or at the end of the initial or renewal lease period for the fair market value or other specified amount at that time. At December 31, 2015 , the estimated future minimum lease payments (net of noncancelable sublease rentals) under operating and capital leases, which at inception had a noncancelable term of more than one year, were as follows: At December 31 Operating Leases Capital Leases Year 2016 $ 846 $ 23 2017 689 21 2018 554 19 2019 420 19 2020 311 6 Thereafter 528 62 Total $ 3,348 $ 150 Less: Amounts representing interest and executory costs $ (53 ) Net present values 97 Less: Capital lease obligations included in short-term debt (17 ) Long-term capital lease obligations $ 80 Summarized Financial Data - Chevron U.S.A. Inc. Chevron U.S.A. Inc. [Member] Subsidiary Statements Captions [Line Items] Summarized Financial Data - Chevron U.S.A. Inc. 12 Months Ended Dec. 31, 2015 Summarized Financial Data - Chevron U.S.A. Inc. Chevron U.S.A. Inc. (CUSA) is a major subsidiary of Chevron Corporation. CUSA and its subsidiaries manage and operate most of Chevron's U.S. businesses. Assets include those related to the exploration and production of crude oil, natural gas and natural gas liquids and those associated with the refining, marketing, supply and distribution of products derived from petroleum, excluding most of the regulated pipeline operations of Chevron. CUSA also holds the company's investment in the Chevron Phillips Chemical Company LLC joint venture, which is accounted for using the equity method. The summarized financial information for CUSA and its consolidated subsidiaries is as follows: Year ended December 31 2015 2014 2013 Sales and other operating revenues $ 97,766 $ 157,198 $ 174,318 Total costs and other deductions 101,565 153,139 169,984 Net income (loss) attributable to CUSA (1,054 ) 3,849 3,714 2015 2014 Current assets $ 9,732 $ 13,724 Other assets 59,170 62,195 Current liabilities 13,664 16,191 Other liabilities 29,100 30,175 Total CUSA net equity $ 26,138 $ 29,553 Memo: Total debt $ 14,462 $ 14,473 Summarized Financial Data - Tengizchevroil LLP Summarized Financial Data of Affiliate [Abstract] Summarized Financial Data - Tengizchevroil LLP 12 Months Ended Dec. 31, 2015 Summarized Financial Data - Tengizchevroil LLP Chevron has a 50 percent equity ownership interest in Tengizchevroil LLP (TCO). Refer to Note 15, beginning on page FS-40, for a discussion of TCO operations. Summarized financial information for 100 percent of TCO is presented in the table below: Year ended December 31 2015 2014 2013 Sales and other operating revenues $ 12,811 $ 22,813 $ 25,239 Costs and other deductions 7,257 10,275 11,173 Net income attributable to TCO 3,897 8,772 9,855 At December 31 2015 2014 Current assets $ 2,098 $ 3,425 Other assets 17,094 14,810 Current liabilities 1,063 1,531 Other liabilities 2,266 2,375 Total TCO net equity $ 15,863 $ 14,329 Fair Value Measurements Fair Value Disclosures [Abstract] Fair Value Measurements 12 Months Ended Dec. 31, 2015 Fair Value Measurements The tables below and on the next page show the fair value hierarchy for assets and liabilities measured at fair value on a recurring and nonrecurring basis at December 31, 2015 , and December 31, 2014 . Marketable Securities The company calculates fair value for its marketable securities based on quoted market prices for identical assets. The fair values reflect the cash that would have been received if the instruments were sold at December 31, 2015 . Derivatives The company records its derivative instruments - other than any commodity derivative contracts that are designated as normal purchase and normal sale - on the Consolidated Balance Sheet at fair value, with the offsetting amount to the Consolidated Statement of Income. Derivatives classified as Level 1 include futures, swaps and options contracts traded in active markets such as the New York Mercantile Exchange. Derivatives classified as Level 2 include swaps, options and forward contracts principally with financial institutions and other oil and gas companies, the fair values of which are obtained from third-party broker quotes, industry pricing services and exchanges. The company obtains multiple sources of pricing information for the Level 2 instruments. Since this pricing information is generated from observable market data, it has historically been very consistent. The company does not materially adjust this information. Properties, Plant and Equipment The company reported impairments for certain oil and gas properties during 2015 primarily as a result of downward revisions in the company's longer-term crude oil price outlook. The impairments were primarily in Brazil and the United States. The company reported impairments for certain oil and gas properties and a mining asset in 2014 . Investments and Advances The company did not have any material investments and advances measured at fair value on a nonrecurring basis to report in 2015 or 2014 . Assets and Liabilities Measured at Fair Value on a Recurring Basis At Dec ember 31, 2015 At December 31, 2014 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Marketable securities $ 310 $ 310 $ $ $ 422 $ 422 $ $ Derivatives 205 189 16 413 394 19 Total Assets at Fair Value $ 515 $ 499 $ 16 $ $ 835 $ 816 $ 19 $ Derivatives 53 47 6 84 83 1 Total Liabilities at Fair Value $ 53 $ 47 $ 6 $ $ 84 $ 83 $ 1 $ Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis At December 31 At December 31 Before-Tax Loss Before-Tax Loss Total Level 1 Level 2 Level 3 Year 2015 Total Level 1 Level 2 Level 3 Year 2014 Properties, plant and equipment, net (held and used) $ 3,051 $ $ 239 $ 2,812 $ 3,222 $ 947 $ $ 213 $ 734 $ 1,249 Properties, plant and equipment, net (held for sale) 937 937 844 25 Investments and advances 75 75 28 11 11 41 Total Nonrecurring Assets at Fair Value $ 4,063 $ $ 1,251 $ 2,812 $ 4,094 $ 958 $ $ 213 $ 745 $ 1,315 Assets and Liabilities Not Required to Be Measured at Fair Value The company holds cash equivalents and time deposits in U.S. and non-U.S. portfolios. The instruments classified as cash equivalents are primarily bank time deposits with maturities of 90 days or less and money market funds. \"Cash and cash equivalents\" had carrying/fair values of $11,022 and $12,785 at December 31, 2015 , and December 31, 2014 , respectively. The instruments held in \"Time deposits\" are bank time deposits with maturities greater than 90 days, and had carrying/fair values of zero and $8 at December 31, 2015 , and December 31, 2014 , respectively. The fair values of Financial and Derivative Instruments Derivative Instruments and Hedging Activities Disclosure [Abstract] Financial and Derivative Instruments 12 Months Ended Dec. 31, 2015 Financial and Derivative Instruments Derivative Commodity Instruments The company's derivative commodity instruments principally include crude oil, natural gas and refined product futures, swaps, options, and forward contracts. None of the company's derivative instruments is designated as a hedging instrument, although certain of the company's affiliates make such designation. The company's derivatives are not material to the company's financial position, results of operations or liquidity. The company believes it has no material market or credit risks to its operations, financial position or liquidity as a result of its commodity derivative activities. The company uses derivative commodity instruments traded on the New York Mercantile Exchange and on electronic platforms of the Inter-Continental Exchange and Chicago Mercantile Exchange. In addition, the company enters into swap contracts and option contracts principally with major financial institutions and other oil and gas companies in the \"over-the-counter\" markets, which are governed by International Swaps and Derivatives Association agreements and other master netting arrangements. Depending on the nature of the derivative transactions, bilateral collateral arrangements may also be required. Derivative instruments measured at fair value at December 31, 2015 , December 31, 2014 , and December 31, 2013 , and their classification on the Consolidated Balance Sheet and Consolidated Statement of Income are on the next page: Consolidated Balance Sheet: Fair Value of Derivatives Not Designated as Hedging Instruments At December 31 Type of Contract Balance Sheet Classification 2015 2014 Commodity Accounts and notes receivable, net $ 200 $ 401 Commodity Long-term receivables, net 5 12 Total Assets at Fair Value $ 205 $ 413 Commodity Accounts payable $ 51 $ 57 Commodity Deferred credits and other noncurrent obligations 2 27 Total Liabilities at Fair Value $ 53 $ 84 Consolidated Statement of Income: The Effect of Derivatives Not Designated as Hedging Instruments Gain/(Loss) Type of Derivative Statement of Year ended December 31 Contract Income Classification 2015 2014 2013 Commodity Sales and other operating revenues $ 277 $ 553 $ (108 ) Commodity Purchased crude oil and products 30 (17 ) (77 ) Commodity Other income (3 ) (32 ) (9 ) $ 304 $ 504 $ (194 ) The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Consolidated Balance Sheet at December 31, 2015 and December 31, 2014 . Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities Gross Amount Recognized Gross Amounts Offset Net Amounts Presented Gross Amounts Not Offset Net Amount At December 31, 2015 Derivative Assets $ 2,459 $ 2,254 $ 205 $ $ 205 Derivative Liabilities $ 2,307 $ 2,254 $ 53 $ $ 53 At December 31, 2014 Derivative Assets $ 4,004 $ 3,591 $ 413 $ 7 $ 406 Derivative Liabilities $ 3,675 $ 3,591 $ 84 $ $ 84 Derivative assets and liabilities are classified on the Consolidated Balance Sheet as accounts and notes receivable, long-term receivables, accounts payable, and deferred credits and other noncurrent obligations. Amounts not offset on the Consolidated Balance Sheet represent positions that do not meet all the conditions for "a right of offset." Concentrations of Credit Risk The company's financial instruments that are exposed to concentrations of credit risk consist primarily of its cash equivalents, time deposits, marketable securities, derivative financial instruments and trade receivables. The company's short-term Assets Held For Sale Assets Held For Sale [Abstract] Assets Held For Sale 12 Months Ended Dec. 31, 2015 Assets Held for Sale At December 31, 2015 , the company classified $1,449 of net properties, plant and equipment as \"Assets held for sale\" on the Consolidated Balance Sheet. These assets are associated with upstream and downstream operations that are anticipated to be sold in the next 12 months. The revenues and earnings contributions of these assets in 2015 were not material. Equity Equity [Abstract] Equity 12 Months Ended Dec. 31, 2015 Equity Retained earnings at December 31, 2015 and 2014 , included approximately $15,010 and $14,512 , respectively, for the company's share of undistributed earnings of equity affiliates. At December 31, 2015 , about 114 million shares of Chevron's common stock remained available for issuance from the 260 million shares that were reserved for issuance under the Chevron LongTerm Incentive Plan. In addition, approximately 120,753 shares remain available for issuance from the 800,000 shares of the company's common stock that were reserved for awards under the Chevron Corporation Non-Employee Directors' Equity Compensation and Deferral Plan. Earnings Per Share Earnings Per Share [Abstract] Earnings Per Share 12 Months Ended Dec. 31, 2015 Earnings Per Share Basic earnings per share (EPS) is based upon \"Net Income Attributable to Chevron Corporation\" (\"earnings\") and includes the effects of deferrals of salary and other compensation awards that are invested in Chevron stock units by certain officers and employees of the company. Diluted EPS includes the effects of these items as well as the dilutive effects of outstanding stock options awarded under the company's stock option programs (refer to Note 22, \"Stock Options and Other Share-Based Compensation,\" beginning on page FS-50). The table below sets forth the computation of basic and diluted EPS: Year ended December 31 2015 2014 2013 Basic EPS Calculation Earnings available to common stockholders - Basic * $ 4,587 $ 19,241 $ 21,423 Weighted-average number of common shares outstanding 1,867 1,883 1,916 Add: Deferred awards held as stock units 1 1 1 Total weighted-average number of common shares outstanding 1,868 1,884 1,917 Earnings per share of common stock - Basic $ 2.46 $ 10.21 $ 11.18 Diluted EPS Calculation Earnings available to common stockholders - Diluted * $ 4,587 $ 19,241 $ 21,423 Weighted-average number of common shares outstanding 1,867 1,883 1,916 Add: Deferred awards held as stock units 1 1 1 Add: Dilutive effect of employee stock-based awards 7 14 15 Total weighted-average number of common shares outstanding 1,875 1,898 1,932 Earnings per share of common stock - Diluted $ 2.45 $ 10.14 $ 11.09 * There was no effect of dividend equivalents paid on stock units or dilutive impact of employee stock-based awards on earnings. Operating Segments and Geographic Data Segment Reporting [Abstract] Operating Segments and Geographic Data 12 Months Ended Dec. 31, 2015 Operating Segments and Geographic Data Although each subsidiary of Chevron is responsible for its own affairs, Chevron Corporation manages its investments in these subsidiaries and their affiliates. The investments are grouped into two business segments, Upstream and Downstream, representing the company's \"reportable segments\" and \"operating segments.\" Upstream operations consist primarily of exploring for, developing and producing crude oil and natural gas; liquefaction, transportation and regasification associated with liquefied natural gas (LNG); transporting crude oil by major international oil export pipelines; processing, transporting, storage and marketing of natural gas; and a gas-to-liquids plant. Downstream operations consist primarily of refining of crude oil into petroleum products; marketing of crude oil and refined products; transporting of crude oil and refined products by pipeline, marine vessel, motor equipment and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. All Other activities of the company include worldwide cash management and debt financing activities, corporate administrative functions, insurance operations, real estate activities, and technology companies. The company's segments are managed by \"segment managers\" who report to the \"chief operating decision maker\" (CODM). The segments represent components of the company that engage in activities (a) from which revenues are earned and expenses are incurred; (b) whose operating results are regularly reviewed by the CODM, which makes decisions about resources to be allocated to the segments and assesses their performance; and (c) for which discrete financial information is available. The company's primary country of operation is the United States of America, its country of domicile. Other components of the company's operations are reported as "International\" (outside the United States). Segment Earnings The company evaluates the performance of its operating segments on an after-tax basis, without considering the effects of debt financing interest expense or investment interest income, both of which are managed by the company on a worldwide basis. Corporate administrative costs and assets are not allocated to the operating segments. However, operating segments are billed for the direct use of corporate services. Nonbillable costs remain at the corporate level in \"All Other.\" Earnings by major operating area are presented in the following table: Year ended December 31 2015 2014 2013 Upstream United States $ (4,055 ) $ 3,327 $ 4,044 International 2,094 13,566 16,765 Total Upstream (1,961 ) 16,893 20,809 Downstream United States 3,182 2,637 787 International 4,419 1,699 1,450 Total Downstream 7,601 4,336 2,237 Total Segment Earnings 5,640 21,229 23,046 All Other Interest income 65 77 80 Other (1,118 ) (2,065 ) (1,703 ) Net Income Attributable to Chevron Corporation $ 4,587 $ 19,241 $ 21,423 Segment Assets Segment assets do not include intercompany investments or receivables. Assets at year-end 2015 and 2014 are as follows: At December 31 2015 2014 1 Upstream United States $ 46,407 $ 49,343 International 163,217 152,736 Goodwill 4,588 4,593 Total Upstream 214,212 206,672 Downstream United States 21,408 23,068 International 14,982 17,723 Total Downstream 36,390 40,791 Total Segment Assets 250,602 247,463 All Other United States 5,076 6,603 International 10,425 11,960 Total All Other 15,501 18,563 Total Assets - United States 72,891 79,014 Total Assets - International 188,624 Investments and Advances Investments in and Advances to Affiliates, Schedule of Investments [Abstract] Investments and Advances 12 Months Ended Dec. 31, 2015 Investments and Advances Equity in earnings, together with investments in and advances to companies accounted for using the equity method and other investments accounted for at or below cost, is shown in the following table. For certain equity affiliates, Chevron pays its share of some income taxes directly. For such affiliates, the equity in earnings does not include these taxes, which are reported on the Consolidated Statement of Income as \"Income tax expense.\" Investments and Advances Equity in Earnings At December 31* Year ended December 31 2015 2014 2015 2014 2013 Upstream Tengizchevroil $ 8,077 $ 7,319 $ 1,939 $ 4,392 $ 4,957 Petropiar 679 794 180 26 339 Caspian Pipeline Consortium 1,342 1,487 162 191 113 Petroboscan 1,163 917 219 186 300 Angola LNG Limited 3,284 3,277 (417 ) (311 ) (111 ) Other 2,158 2,316 135 229 214 Total Upstream 16,703 16,110 2,218 4,713 5,812 Downstream GS Caltex Corporation 3,620 2,867 824 420 132 Chevron Phillips Chemical Company LLC 5,196 5,116 1,367 1,606 1,371 Caltex Australia Ltd. 1,161 92 183 224 Other 1,077 1,048 186 180 199 Total Downstream 9,893 10,192 2,469 2,389 1,926 All Other Other (18 ) 33 (3 ) (4 ) (211 ) Total equity method $ 26,578 $ 26,335 $ 4,684 $ 7,098 $ 7,527 Other at or below cost 532 577 Total investments and advances $ 27,110 $ 26,912 Total United States $ 6,863 $ 6,787 $ 1,342 $ 1,623 $ 1,294 Total International $ 20,247 $ 20,125 $ 3,342 $ 5,475 $ 6,233 * 2014 conformed to 2015 presentation. Descriptions of major affiliates, including significant differences between the company's carrying value of its investments and its underlying equity in the net assets of the affiliates, are as follows: Tengizchevroil Chevron has a 50 percent equity ownership interest in Tengizchevroil (TCO), which operates the Tengiz and Korolev crude oil fields in Kazakhstan. At December 31, 2015 , the company's carrying value of its investment in TCO was about $150 higher than the amount of underlying equity in TCO's net assets. This difference results from Chevron acquiring a portion of its interest in TCO at a value greater than the underlying book value for that portion of TCO's net assets. See Note 8, on page FS-34, for summarized financial information for 100 percent of TCO. Petropiar Chevron has a 30 percent interest in Petropiar, a joint stock company which operates the Hamaca heavy-oil production and upgrading project in Venezuela's Orinoco Belt. At December 31, 2015 , the company's carrying value of its investment in Petropiar was approximately $160 less than the amount of underlying equity in Petropiar's net assets. The difference represents the excess of Chevron's underlying equity in Petropiar's net assets over the net book value of the assets contributed to the venture. Caspian Pipeline Consortium Chevron has a 15 percent interest in the Caspian Pipeline Consortium, a variable interest entity, which provides the critical export route for crude oil from both TCO and Karachaganak. The company has investments and advances totaling $1,342 , which includes long-term loans of $1,098 at year-end 2015 . The loans were provided to fund 30 percent of the initial pipeline construction. The company is not the primary beneficiary of the consortium because it does not direct activities of the consortium and only receives its proportionate share of the financial returns. Petroboscan Chevron has a 39.2 percent interest in Petroboscan, a joint stock company which operates the Boscan Field in Venezuela. At December 31, 2015 , the company's carrying value of its investment in