View Filing Data

Income from equity affiliates

^[1]

$ 54,296

$ 58,896

2,284

1,709

Other income

238

100

Total Revenues and Other Income

56,818

60,705

Costs and Other Deductions

Purchased crude oil and products

32,910

36,053

Operating expenses

5,762

5,183

Selling, general and administrative expenses

998

940

Exploration expenses

247

403

Depreciation, depletion and amortization

3,481

3,205

Taxes other than on income

^[1]

3,137

2,852

Total Costs and Other Deductions

46,535

48,636

Income Before Income Tax Expense

10,283

12,069

Income Tax Expense

4,044

5,570

Net Income

6,239

6,499

Less: Net income attributable to noncontrolling interests

Net Income Attributable to Chevron Corporation

$ 6,178

$ 6,471

Per Share of Common Stock:

Net Income Attributable to Chevron Corporation - Basic (in dollars per share)

$ 3.20

$ 3.30

Net Income Attributable to Chevron Corporation - Diluted (in dollars per share)

3.18

3.27

Dividends (in dollars per share)

$ 0.9

$ 0.81

Weighted Average Number of Shares Outstanding (000s)

Basic (in shares)

1,929,014

1,963,862

Diluted (in shares)

1,943,931

1,978,781

Includes excise, value-added and similar taxes:

$ 2,033

$ 1,787

[1]	* Includes excise, value-added and similar taxes:2,033 1,787

Consolidated Statement of Comprehensive Income (Unaudited) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2013

Mar. 31, 2012

Net Income

$ 6,239

$ 6,499

Currency translation adjustment

(11)

Unrealized holding gain (loss) on securities:

Net gain (loss) arising during period

(1)

Derivatives:

Net derivatives gain on hedge transactions

Reclassification to net income of net realized (loss) gain

(6)

Income taxes benefit (expense) on derivatives transactions

(6)

Total

(3)

Actuarial loss:

Amortization to net income of net actuarial and settlement losses

227

273

Actuarial loss arising during period

(43)

Prior service cost:

Amortization to net income of net prior service credits

(7)

(14)

Defined benefit plans sponsored by equity affiliates

(20)

Income taxes on defined benefit plans

105

Total

(115)

(122)

Comprehensive income attributable to noncontrolling interests

100

^[1]

147

Comprehensive Income

6,339

6,646

(61)

(28)

Comprehensive Income Attributable to Chevron Corporation

$ 6,278

$ 6,618

[1]	All amounts are net of tax.

Consolidated Balance Sheet (Unaudited) - USD ($)
$ in Millions

Mar. 31, 2013

Dec. 31, 2012

ASSETS

Cash and cash equivalents

$ 17,374

$ 20,939

Time deposits

1,408

708

Marketable securities

266

Accounts and notes receivable, net

21,969

20,997

Inventories

Crude oil and petroleum products

4,384

3,923

Chemicals

477

475

Materials, supplies and other

1,803

1,746

Total inventories

6,664

6,144

Prepaid expenses and other current assets

7,015

6,666

Total Current Assets

54,696

55,720

Long-term receivables, net

3,121

3,053

Investments and advances

24,504

23,718

Properties, plant and equipment, at cost

271,239

263,481

Less: Accumulated depreciation, depletion and amortization

125,266

122,133

Properties, plant and equipment, net

145,973

141,348

Deferred charges and other assets

4,476

4,503

Goodwill

4,640

Total Assets

237,410

232,982

LIABILITIES AND EQUITY

Short-term debt

2,090

127

Accounts payable

21,617

22,776

Accrued liabilities

5,048

5,738

Federal and other taxes on income

4,711

4,341

Other taxes payable

1,219

1,230

Total Current Liabilities

34,685

34,212

Long-term debt

11,960

11,966

Capital lease obligations

Deferred credits and other noncurrent obligations

21,623

21,502

Noncurrent deferred income taxes

18,046

17,672

Reserves for employee benefit plans

9,517

9,699

Total Liabilities

95,924

95,150

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 March 31, 2013, and December 31, 2012)

1,832

Capital in excess of par value

15,585

15,497

Retained earnings

164,173

159,730

Accumulated other comprehensive loss

^[1]

(6,269)

(6,369)

Deferred compensation and benefit plan trust

(262)

(282)

Treasury stock, at cost (503,698,805 and 495,978,691 shares at March 31, 2013, and December 31, 2012, respectively)

(34,925)

(33,884)

Total Chevron Corporation Stockholders’ Equity

140,134

136,524

Noncontrolling interests

1,352

1,308

Total Equity

141,486

137,832

Total Liabilities and Equity

$ 237,410

$ 232,982

[1]	All amounts are net of tax.

Consolidated Balance Sheet (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2013	Dec. 31, 2012
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.75	$ 0.75
Common stock, shares authorized	6,000,000,000	6,000,000,000
Common stock, shares issued	2,442,676,580	2,442,676,580
Treasury stock, shares	503,698,805	495,978,691

Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Operating Activities
Net Income	$ 6,239	$ 6,499
Adjustments
Depreciation, depletion and amortization	3,481	3,205
Dry hole expense	12	242
Distributions less than income from equity affiliates	(578)	(178)
Net before-tax gains on asset retirements and sales	(27)	(122)
Net foreign currency effects	(109)	142
Deferred income tax provision	127	491
Net increase in operating working capital	(3,360)	(2,795)
Increase in long-term receivables	(66)	(15)
(Increase) decrease in other deferred charges	(111)	83
Cash contributions to employee pension plans	(238)	(345)
Other	344	1,180
Net Cash Provided by Operating Activities	5,714	8,387
Investing Activities
Capital expenditures	(8,192)	(5,895)
Proceeds and deposits related to asset sales	76	428
Net (purchases) sales of time deposits	(700)	3,300
Net sales of marketable securities	0	11
Repayment of loans by equity affiliates	1	0
Net sales of other short-term investments	356	183
Net Cash Used for Investing Activities	(8,459)	(1,973)
Financing Activities
Net borrowings of short-term obligations	2,069	(852)
Repayments of long-term debt and other financing obligations	(102)	(15)
Cash dividends — common stock	(1,735)	(1,590)
Distributions to noncontrolling interests	(10)	(8)
Net purchases of treasury shares	(1,027)	(996)
Net Cash Used for Financing Activities	(805)	(3,461)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(15)	54
Net Change in Cash and Cash Equivalents	(3,565)	3,007
Cash and Cash Equivalents at January 1	20,939	15,864
Cash and Cash Equivalents at March 31	$ 17,374	$ 18,871

Interim Financial Statements	3 Months Ended
Interim Financial Statements	Mar. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Interim Financial Statements	Interim Financial Statements The accompanying consolidated financial statements of Chevron Corporation and its subsidiaries (the company) have not been audited by an independent registered public accounting firm. In the opinion of the company’s management, the interim data includes all adjustments necessary for a fair statement of the results for the interim periods. These adjustments were of a normal recurring nature. The results for the three-month period ended March 31, 2013, are not necessarily indicative of future financial results. The term “earnings” is defined as net income attributable to Chevron Corporation. Certain notes and other information have been condensed or omitted from the interim financial statements presented in this Quarterly Report on Form 10-Q. Therefore, these financial statements should be read in conjunction with the company’s 2012 Annual Report on Form 10-K.

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

Changes in Accumulated Other Comprehensive Losses

Changes in Accumulated Other Comprehensive Losses

3 Months Ended

Mar. 31, 2013

Equity [Abstract]

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 three months ending March 31, 2013, are reflected in the table below.

Changes in Accumulated Other Comprehensive Income (Loss) by Component ⁽¹⁾

(Millions of Dollars)



	Three Months Ended March 31, 2013
	Currency Translation Adjustment			Unrealized Holding Gains (Losses) on Securities			Derivatives			Defined Benefit Plans			Total

Balance at January 1	$	(65	)	$	1		$	125		$	(6,430	)	$	(6,369	)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	(11		)	(1		)	—			(25		)	(37		)
Reclassifications⁽²⁾	—			—			(3		)	140			137
Net Other Comprehensive Income (Loss)	(11		)	(1		)	(3		)	115			100
Balance at March 31	$	(76	)	$	—		$	122		$	(6,315	)	$	(6,269	)

⁽¹⁾ All amounts are net of tax.

⁽²⁾ Refer to Note 9, Employee Benefits for reclassified components totaling $220 million that are included in employee benefit costs for the three months ending March 31, 2013. Related income taxes for the same period, totaling $80 million, are reflected in Income Tax Expense on the Consolidated Statement of Income. All other reclassified amounts were insignificant.

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e716-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e640-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 220
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-Section 45
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-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e637-108580

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e681-108580

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14-26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Noncontrolling Interests

3 Months Ended

Mar. 31, 2013

Noncontrolling Interest [Abstract]

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.

Activity for the equity attributable to noncontrolling interests for the first three months of 2013 and 2012 is as follows:



	2013									2012
	Chevron Corporation Stockholders’ Equity			Noncontrolling Interest			Total Equity			Chevron Corporation Stockholders’ Equity			Noncontrolling Interest			Total Equity
	(Millions of dollars)
Balance at January 1	$	136,524		$	1,308		$	137,832		$	121,382		$	799		$	122,181
Net income	6,178			61			6,239			6,471			28			6,499
Dividends	(1,736		)	—			(1,736		)	(1,590		)	—			(1,590		)
Distributions to noncontrolling interests	—			(10		)	(10		)	—			(8		)	(8		)
Treasury shares, net	(1,041		)	—			(1,041		)	(1,016		)	—			(1,016		)
Other changes, net*	209			(7		)	202			260			—			260
Balance at March 31	$	140,134		$	1,352		$	141,486		$	125,507		$	819		$	126,326

_________________________________

* Includes components of comprehensive income, which are disclosed separately in the Consolidated Statement of Comprehensive Income.

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

Supplemental Cash Flow Elements [Abstract]

Information Relating to the Consolidated Statement of Cash Flows

3 Months Ended

Mar. 31, 2013

Information Relating to the Consolidated Statement of Cash Flows

The “Net increase in operating working capital” was composed of the following operating changes:



	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Increase in accounts and notes receivable	$	(994	)	$	(153	)
Increase in inventories	(520		)	(1,847		)
Increase in prepaid expenses and other current assets	(437		)	(119		)
Decrease in accounts payable and accrued liabilities	(1,759		)	(1,027		)
Increase in income and other taxes payable	350			351
Net increase in operating working capital	$	(3,360	)	$	(2,795	)

The “Net increase in operating working capital” includes reductions of $28 million and $26 million for excess income tax benefits associated with stock options exercised during the three months ended March 31, 2013, and 2012, respectively. These amounts are offset by an equal amount in “Net purchases of treasury shares.”

“Net Cash Provided by Operating Activities” included the following cash payments for interest on debt and for income taxes:



	Three Months Ended March 31
	2013		2012
	(Millions of dollars)
Interest on debt (net of capitalized interest)	$	—	$	36
Income taxes	3,434		4,140

"Other" includes changes in postretirement benefits obligations and other long-term liabilities.

Information related to "Restricted Cash" is included on page 21 in Note 12 under the heading "Restricted Cash."

The “Net (purchases) sales of time deposits” consisted of the following gross amounts:



	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Time deposits purchased	$	(708	)	$	(8	)
Time deposits matured	8			3,308
Net (purchases) sales of time deposits	$	(700	)	$	3,300

The “Net sales of marketable securities” consisted of the following gross amounts:



	Three Months Ended March 31
	2013		2012
	(Millions of dollars)
Marketable securities purchased	$	—	$	—
Marketable securities sold	—		11
Net sales of marketable securities	$	—	$	11

The “Net purchases of treasury shares” represents the cost of common shares acquired less the cost of shares issued for share-based compensation plans. Purchases totaled $1.3 billion for the first three months in both 2013 and 2012. During the first three months of 2013 and 2012, the company purchased 10.8 million and 11.6 million common shares under its ongoing share repurchase program, respectively, for $1.25 billion in each corresponding period.

The major components of “Capital expenditures” and the reconciliation of this amount to the capital and exploratory expenditures, including equity affiliates, are as follows:



	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Additions to properties, plant and equipment	$	7,935		$	5,511
Additions to investments	262			192
Current year dry hole expenditures	12			205
Payments for other liabilities and assets, net	(17		)	(13		)
Capital expenditures	8,192			5,895
Expensed exploration expenditures	235			161
Assets acquired through capital lease obligations	2			—
Capital and exploratory expenditures, excluding equity affiliates	8,429			6,056
Company’s share of expenditures by equity affiliates	453			361
Capital and exploratory expenditures, including equity affiliates	$	8,882		$	6,417

Operating Segments and Geographic Data

3 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

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” as defined in accounting standards for segment reporting (ASC 280). 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 project. 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 mining operations, power generation businesses, worldwide cash management and debt financing activities, corporate administrative functions, insurance operations, real estate activities, energy services, alternative fuels, and technology companies.

The segments are separately managed for investment purposes under a structure that includes “segment managers” who report to the company’s “chief operating decision maker” (CODM) (terms as defined in ASC 280). The CODM is the company’s Executive Committee (EXCOM), a committee of senior officers that includes the Chief Executive Officer, and EXCOM reports to the Board of Directors of Chevron Corporation.

The operating segments represent components of the company, as described in accounting standards for segment reporting (ASC 280), 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.

Segment managers for the reportable segments are directly accountable to, and maintain regular contact with, the company’s CODM to discuss the segment’s operating activities and financial performance. The CODM approves annual capital and exploratory budgets at the reportable segment level, as well as reviews capital and exploratory funding for major projects and approves major changes to the annual capital and exploratory budgets. However, business-unit managers within the operating segments are directly responsible for decisions relating to project implementation and all other matters connected with daily operations. Company officers who are members of the EXCOM also have individual management responsibilities and participate in other committees for purposes other than acting as the CODM.

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 for the three-month period ended March 31, 2013, and 2012, are presented in the following table:



Segment Earnings	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Upstream
United States	$	1,132		$	1,529
International	4,784			4,642
Total Upstream	5,916			6,171
Downstream
United States	135			459
International	566			345
Total Downstream	701			804
Total Segment Earnings	6,617			6,975
All Other
Interest Income	21			20
Other	(460		)	(524		)
Net Income Attributable to Chevron Corporation	$	6,178		$	6,471

Segment Assets Segment assets do not include intercompany investments or intercompany receivables. “All Other” assets consist primarily of worldwide cash, cash equivalents, time deposits and marketable securities; real estate; information systems; mining operations; power generation businesses; energy services; alternative fuels; technology companies; and assets of the corporate administrative functions. Segment assets at March 31, 2013, and December 31, 2012, are as follows:



Segment Assets	At March 31 2013		At December 31 2012
	(Millions of dollars)
Upstream
United States	$	42,477	$	41,891
International	120,926		115,806
Goodwill	4,640		4,640
Total Upstream	168,043		162,337
Downstream
United States	23,982		23,023
International	20,958		20,024
Total Downstream	44,940		43,047
Total Segment Assets	212,983		205,384
All Other
United States	6,118		7,727
International	18,309		19,871
Total All Other	24,427		27,598
Total Assets — United States	72,577		72,641
Total Assets — International	160,193		155,701
Goodwill	4,640		4,640
Total Assets	$	237,410	$	232,982

Segment Sales and Other Operating Revenues Segment sales and other operating revenues, including internal transfers, for the three-month period ended March 31, 2013, and 2012, are presented in the following table. Products are transferred between operating segments at internal product values that approximate market prices. Revenues for the upstream segment are derived primarily from the production and sale of crude oil and natural gas, as well as the sale of third-party production of natural gas. Revenues for the downstream segment are derived from the refining and marketing of petroleum products such as gasoline, jet fuel, gas oils, lubricants, residual fuel oils and other products derived from crude oil. This segment also generates revenues from the manufacture and sale of fuel and lubricant additives and the transportation and trading of refined products and crude oil. “All Other” activities include revenues from mining operations, power generation businesses, insurance operations, real estate activities, energy services, alternative fuels, and technology companies.



Sales and Other Operating Revenues	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Upstream
United States	$	6,267		$	6,201
International	12,911			14,515
Subtotal	19,178			20,716
Intersegment Elimination — United States	(4,194		)	(4,597		)
Intersegment Elimination — International	(8,356		)	(9,226		)
Total Upstream	6,628			6,893
Downstream
United States	20,430			22,684
International	27,178			29,250
Subtotal	47,608			51,934
Intersegment Elimination — United States	(11		)	(15		)
Intersegment Elimination — International	(16		)	(11		)
Total Downstream	47,581			51,908
All Other
United States	378			326
International	6			12
Subtotal	384			338
Intersegment Elimination — United States	(292		)	(231		)
Intersegment Elimination — International	(5		)	(12		)
Total All Other	87			95
Sales and Other Operating Revenues
United States	27,075			29,211
International	40,095			43,777
Subtotal	67,170			72,988
Intersegment Elimination — United States	(4,497		)	(4,843		)
Intersegment Elimination — International	(8,377		)	(9,249		)
Total Sales and Other Operating Revenues	$	54,296		$	58,896

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

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Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
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Chevron U.S.A. Inc. [Member]

Summarized Financial Data - Chevron U.S.A. Inc.

3 Months Ended

Mar. 31, 2013

Summarized Financial Data - Chevron U.S.A. Inc.

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 refining, marketing, and 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:



	Three Months Ended March 31
	2013		2012
	(Millions of dollars)
Sales and other operating revenues	$	42,777	$	47,134
Costs and other deductions	41,717		45,106
Net income attributable to CUSA	889		1,364



	At March 31 2013		At December 31 2012
	(Millions of dollars)
Current assets	$	18,881	$	18,983
Other assets	52,804		52,082
Current liabilities	17,703		18,161
Other liabilities	26,689		26,472
Total CUSA net equity	$	27,293	$	26,432
Memo: Total debt	$	14,484	$	14,482

Summarized Financial Data - Chevron Transport Corporation

3 Months Ended

Mar. 31, 2013

Chevron Transport Corporation [Member]

Summarized Financial Data - Chevron Transport Corporation

Summarized Financial Data — Chevron Transport Corporation

Chevron Transport Corporation Limited (CTC), incorporated in Bermuda, is an indirect, wholly owned subsidiary of Chevron Corporation. CTC is the principal operator of Chevron’s international tanker fleet and is engaged in the marine transportation of crude oil and refined petroleum products. Most of CTC’s shipping revenue is derived from providing transportation services to other Chevron companies. Chevron Corporation has fully and unconditionally guaranteed this subsidiary’s obligations in connection with certain debt securities.

During 2012, CTC implemented legal reorganizations in which certain Chevron business units transferred assets out of CTC. The summarized financial information for CTC and its consolidated subsidiaries presented in this table below gives retroactive effect to the reorganizations as if they had occurred on January 1, 2012. However, the financial information in the following table may not reflect the financial position and operating results in the periods presented if the reorganization had occurred on that date. Summarized income statement information for CTC and its consolidated subsidiaries is as follows:



	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Sales and other operating revenues	$	131		$	145
Costs and other deductions	172			183
Net loss attributable to CTC	(41		)	(38		)

Summarized balance sheet information for CTC and its consolidated subsidiaries is as follows:



	At March 31 2013			At December 31 2012
	(Millions of dollars)
Current assets	$	212		$	199
Other assets	312			313
Current liabilities	210			154
Other liabilities	414			415
Total CTC net (deficit) equity	$	(100	)	$	(57	)

There were no restrictions on CTC’s ability to pay dividends or make loans or advances at March 31, 2013.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2013
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Taxes on income for the first quarter of 2013 were $4.0 billion, compared with $5.6 billion for the corresponding period in 2012. The associated effective tax rates (calculated as the amount of Income Tax Expense divided by Income Before Income Tax Expense) were 39 percent in 2013 and 46 percent in 2012. The decrease in the effective tax rate between periods was driven by a lower effective tax rate in international upstream operations. The lower international upstream rate was primarily due to non-recurring tax benefits in the current period and foreign currency remeasurement impacts between periods. Tax positions for Chevron and its subsidiaries and affiliates are subject to income tax audits by many tax jurisdictions throughout the world. For the company’s major tax jurisdictions, examinations of tax returns for certain prior tax years had not been completed as of March 31, 2013. For these jurisdictions, the latest years for which income tax examinations had been finalized were as follows: United States — 2007, Nigeria — 2000, Angola — 2001, Saudi Arabia — 2003 and Kazakhstan — 2007. The company engages in ongoing discussions with tax authorities regarding the resolution of tax matters in the various jurisdictions. Both the outcome of these tax matters and the timing of resolution and/or closure of the tax audits are highly uncertain. However, it is reasonably possible that developments regarding tax matters in certain tax jurisdictions may result in significant increases or decreases in the company’s total unrecognized tax benefits within the next 12 months. Given the number of years that still remain subject to examination and the number of matters being examined in the various tax jurisdictions, the company is unable to estimate the range of possible adjustments to the balance of unrecognized tax benefits. The company is currently assessing the potential impact of an August 2012 decision by the U.S. Court of Appeals for the Third Circuit that disallows the Historic Rehabilitation Tax Credits (HRTCs) claimed by an unrelated taxpayer. The company has claimed a significant amount of HRTCs on its U.S. federal income tax returns in open years, and it is reasonably possible that the specific findings from management's ongoing assessment and evaluation could result in a significant increase in the company's unrecognized tax benefit within the next 12 months. Any such increase would impact the effective tax rate.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
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-Article 4

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Compensation and Retirement Disclosure [Abstract]

Employee Benefits

3 Months Ended

Mar. 31, 2013

Employee Benefits

Chevron has defined benefit pension plans for many employees. The company typically prefunds defined benefit plans as required by local regulations or in certain situations where prefunding provides economic advantages. In the United States, all qualified plans are subject to the Employee Retirement Income Security Act (ERISA) minimum funding standard. The company does not typically fund U.S. nonqualified pension plans that are not subject to funding requirements under laws and regulations because contributions to these pension plans may be less economic and investment returns may be less attractive than the company’s other investment alternatives.

The company also sponsors other postretirement (OPEB) plans that provide medical and dental benefits, as well as life insurance for some active and qualifying retired employees. The plans are unfunded, and the company and the retirees share the costs. Medical coverage for Medicare-eligible retirees in the company’s main U.S. medical plan is secondary to Medicare (including Part D) and the increase to the company contribution for retiree medical coverage is limited to no more than 4 percent each year. Certain life insurance benefits are paid by the company.

The components of net periodic benefit costs for 2013 and 2012 are as follows:



	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Pension Benefits
United States
Service cost	$	124		$	113
Interest cost	118			109
Expected return on plan assets	(175		)	(159		)
Amortization of prior service credits	—			(2		)
Amortization of actuarial losses	121			118
Settlement losses	57			74
Total United States	245			253
International
Service cost	48			44
Interest cost	77			79
Expected return on plan assets	(68		)	(66		)
Amortization of prior service costs	5			5
Amortization of actuarial losses	36			33
Total International	98			95
Net Periodic Pension Benefit Costs	$	343		$	348
Other Benefits*
Service cost	$	18		$	15
Interest cost	40			39
Amortization of prior service credits	(12		)	(18		)
Amortization of actuarial losses	13			15
Settlement gains	—			(26		)
Net Periodic Other Benefit Costs	$	59		$	25

_________________________________

* Includes costs for U.S. and international OPEB plans. Obligations for plans outside the United States are not significant relative to the company’s total OPEB obligation.

The company has estimated it would contribute $1.0 billion to employee pension plans during 2013 (composed of $650 million for the U.S. plans and $350 million for the international plans). Through March 31, 2013, a total of $238 million was contributed (including $196 million to the U.S. plans). Actual contribution amounts are dependent upon plan investment returns, changes in pension obligations, regulatory requirements and other economic factors. Additional funding may ultimately be required if investment returns are insufficient to offset increases in plan obligations.

During the first three months of 2013, the company contributed $51 million to its OPEB plans. The company anticipates contributing approximately $177 million during the remainder of 2013.

The entire disclosure for pension and other postretirement benefits.

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Litigation	3 Months Ended
Litigation	Mar. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Litigation	Litigation MTBE Chevron and many other companies in the petroleum industry have used methyl tertiary butyl ether (MTBE) as a gasoline additive. Chevron is a party to six pending lawsuits and claims, the majority of which involve numerous other petroleum marketers and refiners. Resolution of these lawsuits and claims may ultimately require the company to correct or ameliorate the alleged effects on the environment of prior release of MTBE by the company or other parties. Additional lawsuits and claims related to the use of MTBE, including personal-injury claims, may be filed in the future. The company’s ultimate exposure related to pending lawsuits and claims is not determinable. The company no longer uses MTBE in the manufacture of gasoline in the United States. Ecuador Chevron is a defendant in a civil lawsuit initiated in the Superior Court of Nueva Loja in Lago Agrio, Ecuador, in May 2003 by plaintiffs who claim to be representatives of certain residents of an area where an oil production consortium formerly had operations. The lawsuit alleges damage to the environment from the oil exploration and production operations and seeks unspecified damages to fund environmental remediation and restoration of the alleged environmental harm, plus a health monitoring program. Until 1992, Texaco Petroleum Company (Texpet), a subsidiary of Texaco Inc., was a minority member of this consortium with Petroecuador, the Ecuadorian state-owned oil company, as the majority partner; since 1990, the operations have been conducted solely by Petroecuador. At the conclusion of the consortium and following an independent third-party environmental audit of the concession area, Texpet entered into a formal agreement with the Republic of Ecuador and Petroecuador for Texpet to remediate specific sites assigned by the government in proportion to Texpet’s ownership share of the consortium. Pursuant to that agreement, Texpet conducted a three-year remediation program at a cost of $40 million. After certifying that the sites were properly remediated, the government granted Texpet and all related corporate entities a full release from any and all environmental liability arising from the consortium operations. Based on the history described above, Chevron believes that this lawsuit lacks legal or factual merit. As to matters of law, the company believes first, that the court lacks jurisdiction over Chevron; second, that the law under which plaintiffs bring the action, enacted in 1999, cannot be applied retroactively; third, that the claims are barred by the statute of limitations in Ecuador; and, fourth, that the lawsuit is also barred by the releases from liability previously given to Texpet by the Republic of Ecuador and Petroecuador and by the pertinent provincial and municipal governments. With regard to the facts, the company believes that the evidence confirms that Texpet’s remediation was properly conducted and that the remaining environmental damage reflects Petroecuador’s failure to timely fulfill its legal obligations and Petroecuador’s further conduct since assuming full control over the operations. In 2008, a mining engineer appointed by the court to identify and determine the cause of environmental damage, and to specify steps needed to remediate it, issued a report recommending that the court assess $18.9 billion, which would, according to the engineer, provide financial compensation for purported damages, including wrongful death claims, and pay for, among other items, environmental remediation, health care systems and additional infrastructure for Petroecuador. The engineer’s report also asserted that an additional $8.4 billion could be assessed against Chevron for unjust enrichment. In 2009, following the disclosure by Chevron of evidence that the judge participated in meetings in which businesspeople and individuals holding themselves out as government officials discussed the case and its likely outcome, the judge presiding over the case was recused. In 2010, Chevron moved to strike the mining engineer’s report and to dismiss the case based on evidence obtained through discovery in the United States indicating that the report was prepared by consultants for the plaintiffs before being presented as the mining engineer’s independent and impartial work and showing further evidence of misconduct. In August 2010, the judge issued an order stating that he was not bound by the mining engineer’s report and requiring the parties to provide their positions on damages within 45 days. Chevron subsequently petitioned for recusal of the judge, claiming that he had disregarded evidence of fraud and misconduct and that he had failed to rule on a number of motions within the statutory time requirement. In September 2010, Chevron submitted its position on damages, asserting that no amount should be assessed against it. The plaintiffs’ submission, which relied in part on the mining engineer’s report, took the position that damages are between approximately $16 billion and $76 billion and that unjust enrichment should be assessed in an amount between approximately $5 billion and $38 billion. The next day, the judge issued an order closing the evidentiary phase of the case and notifying the parties that he had requested the case file so that he could prepare a judgment. Chevron petitioned to have that order declared a nullity in light of Chevron’s prior recusal petition, and because procedural and evidentiary matters remained unresolved. In October 2010, Chevron’s motion to recuse the judge was granted. A new judge took charge of the case and revoked the prior judge’s order closing the evidentiary phase of the case. On December 17, 2010, the judge issued an order closing the evidentiary phase of the case and notifying the parties that he had requested the case file so that he could prepare a judgment. On February 14, 2011, the provincial court in Lago Agrio rendered an adverse judgment in the case. The court rejected Chevron’s defenses to the extent the court addressed them in its opinion. The judgment assessed approximately $8.6 billion in damages and approximately $900 million as an award for the plaintiffs’ representatives. It also assessed an additional amount of approximately $8.6 billion in punitive damages unless the company issued a public apology within 15 days of the judgment, which Chevron did not do. On February 17, 2011, the plaintiffs appealed the judgment, seeking increased damages, and on March 11, 2011, Chevron appealed the judgment seeking to have the judgment nullified. On January 3, 2012, an appellate panel in the provincial court affirmed the February 14, 2011 decision and ordered that Chevron pay additional attorneys’ fees in the amount of “0.10% of the values that are derived from the decisional act of this judgment.” The plaintiffs filed a petition to clarify and amplify the appellate decision on January 6, 2012, and the court issued a ruling in response on January 13, 2012, purporting to clarify and amplify its January 3, 2012 ruling, which included clarification that the deadline for the company to issue a public apology to avoid the additional amount of approximately $8.6 billion in punitive damages was within 15 days of the clarification ruling, or February 3, 2012. Chevron did not issue an apology because doing so might be mischaracterized as an admission of liability and would be contrary to facts and evidence submitted at trial. On January 20, 2012, Chevron appealed (called a petition for cassation) the appellate panel’s decision to Ecuador’s National Court of Justice. As part of the appeal, Chevron requested the suspension of any requirement that Chevron post a bond to prevent enforcement under Ecuadorian law of the judgment during the cassation appeal. On February 17, 2012, the appellate panel of the provincial court admitted Chevron’s cassation appeal in a procedural step necessary for the National Court of Justice to hear the appeal. The provincial court appellate panel denied Chevron’s request for suspension of the requirement that Chevron post a bond and stated that it would not comply with the First and Second Interim Awards of the international arbitration tribunal discussed below. On March 29, 2012, the matter was transferred from the provincial court to the National Court of Justice, and on November 22, 2012, the National Court agreed to hear Chevron's cassation appeal. On August 3, 2012, the provincial court in Lago Agrio approved a court-appointed liquidator’s report on damages that calculated the total judgment in the case to be $19.1 billion. Chevron has no assets in Ecuador and the Lago Agrio plaintiffs’ lawyers have stated in press releases and through other media that they will seek to enforce the Ecuadorian judgment in various countries and otherwise disrupt Chevron’s operations. On May 30, 2012, the Lago Agrio plaintiffs filed an action against Chevron Corporation, Chevron Canada Limited, and Chevron Canada Finance Limited in the Ontario Superior Court of Justice in Ontario, Canada, seeking to recognize and enforce the Ecuadorian judgment. On May 1, 2013, the Ontario Superior Court of Justice stayed this action, subject to the plaintiffs presenting new evidence that Chevron Corporation has a presence in Ontario. On June 27, 2012, the Lago Agrio plaintiffs filed an action against Chevron Corporation in the Superior Court of Justice in Brasilia, Brazil, seeking to recognize and enforce the Ecuadorian judgment. On October 15, 2012, the provincial court in Lago Agrio issued an ex parte embargo order that purports to order the seizure of assets belonging to separate Chevron subsidiaries in Ecuador, Argentina and Colombia. On November 6, 2012, at the request of the Lago Agrio plaintiffs, a court in Argentina issued a Freeze Order against Chevron Argentina S.R.L. and another Chevron subsidiary, Ingeniero Nortberto Priu, requiring shares of both companies to be "embargoed," requiring third parties to withhold 40 percent of any payments due to Chevron Argentina S.R.L. and ordering banks to withhold 40 percent of the funds in Chevron Argentina S.R.L. bank accounts. On December 14th, 2012, the Argentinean court rejected a motion to revoke the Freeze Order but modified it by ordering that third parties are not required to withhold funds but must report their payments. The court also clarified that the Freeze Order relating to bank accounts excludes taxes. On January 30, 2013, an appellate court upheld the Freeze Order. Chevron continues to believe the provincial court’s judgment is illegitimate and unenforceable in Ecuador, the United States and other countries. The company also believes the judgment is the product of fraud, and contrary to the legitimate scientific evidence. Chevron cannot predict the timing or ultimate outcome of the appeals process in Ecuador or any enforcement action. Chevron expects to continue a vigorous defense of any imposition of liability in the Ecuadorian courts and to contest and defend any and all enforcement actions. Chevron and Texpet filed an arbitration claim in September 2009 against the Republic of Ecuador before an arbitral tribunal presiding in the Permanent Court of Arbitration in The Hague under the Rules of the United Nations Commission on International Trade Law. The claim alleges violations of the Republic of Ecuador’s obligations under the United States–Ecuador Bilateral Investment Treaty (BIT) and breaches of the settlement and release agreements between the Republic of Ecuador and Texpet (described above), which are investment agreements protected by the BIT. Through the arbitration, Chevron and Texpet are seeking relief against the Republic of Ecuador, including a declaration that any judgment against Chevron in the Lago Agrio litigation constitutes a violation of Ecuador’s obligations under the BIT. On February 9, 2011, the Tribunal issued an Order for Interim Measures requiring the Republic of Ecuador to take all measures at its disposal to suspend or cause to be suspended the enforcement or recognition within and without Ecuador of any judgment against Chevron in the Lago Agrio case pending further order of the Tribunal. On January 25, 2012, the Tribunal converted the Order for Interim Measures into an Interim Award. Chevron filed a renewed application for further interim measures on January 4, 2012, and the Republic of Ecuador opposed Chevron’s application and requested that the existing Order for Interim Measures be vacated on January 9, 2012. On February 16, 2012, the Tribunal issued a Second Interim Award mandating that the Republic of Ecuador take all measures necessary (whether by its judicial, legislative or executive branches) to suspend or cause to be suspended the enforcement and recognition within and without Ecuador of the judgment against Chevron and, in particular, to preclude any certification by the Republic of Ecuador that would cause the judgment to be enforceable against Chevron. On February 27, 2012, the Tribunal issued a Third Interim Award confirming its jurisdiction to hear Chevron’s arbitration claims. On April 9, 2012, the Tribunal issued a scheduling order to hear issues relating to the scope of the settlement and release agreements between the Republic of Ecuador and Texpet, and on July 9, 2012, the Tribunal indicated that it wanted to hear the remaining issues in January 2014. On February 7, 2013, the Tribunal issued its Fourth Interim Award in which it declared that the Republic of Ecuador “has violated the First and Second Interim Awards under the [BIT], the UNCITRAL Rules and international law in regard to the finalization and enforcement subject to execution of the Lago Agrio Judgment within and outside Ecuador, including (but not limited to) Canada, Brazil and Argentina.” A schedule for the Tribunal’s order to show cause hearing will be issued separately. Through a series of U.S. court proceedings initiated by Chevron to obtain discovery relating to the Lago Agrio litigation and the BIT arbitration, Chevron obtained evidence that it believes shows a pattern of fraud, collusion, corruption, and other misconduct on the part of several lawyers, consultants and others acting for the Lago Agrio plaintiffs. In February 2011, Chevron filed a civil lawsuit in the Federal District Court for the Southern District of New York against the Lago Agrio plaintiffs and several of their lawyers, consultants and supporters, alleging violations of the Racketeer Influenced and Corrupt Organizations Act and other state laws. Through the civil lawsuit, Chevron is seeking relief that includes an award of damages and a declaration that any judgment against Chevron in the Lago Agrio litigation is the result of fraud and other unlawful conduct and is therefore unenforceable. On March 7, 2011, the Federal District Court issued a preliminary injunction prohibiting the Lago Agrio plaintiffs and persons acting in concert with them from taking any action in furtherance of recognition or enforcement of any judgment against Chevron in the Lago Agrio case pending resolution of Chevron’s civil lawsuit by the Federal District Court. On May 31, 2011, the Federal District Court severed claims one through eight of Chevron’s complaint from the ninth claim for declaratory relief and imposed a discovery stay on claims one through eight pending a trial on the ninth claim for declaratory relief. On September 19, 2011, the U.S. Court of Appeals for the Second Circuit vacated the preliminary injunction, stayed the trial on Chevron’s ninth claim, a claim for declaratory relief, that had been set for November 14, 2011, and denied the defendants’ mandamus petition to recuse the judge hearing the lawsuit. The Second Circuit issued its opinion on January 26, 2012 ordering the dismissal of Chevron’s ninth claim for declaratory relief. On February 16, 2012, the Federal District Court lifted the stay on claims one through eight, and on October 18, 2012, the Federal District Court set a trial date of October 15, 2013. On March 22, 2013, Chevron settled its claims against Stratus Consulting, and on April 12, 2013 sworn declarations by representatives of Stratus Consulting were filed with the Court admitting their role and that of the plaintiffs' attorneys in drafting the environmental report of the mining engineer appointed by the provincial court in Lago Agrio. The ultimate outcome of the foregoing matters, including any financial effect on Chevron, remains uncertain. Management does not believe an estimate of a reasonably possible loss (or a range of loss) can be made in this case. Due to the defects associated with the Ecuadorian judgment, the 2008 engineer’s report on alleged damages and the September 2010 plaintiffs’ submission on alleged damages, management does not believe these documents have any utility in calculating a reasonably possible loss (or a range of loss). Moreover, the highly uncertain legal environment surrounding the case provides no basis for management to estimate a reasonably possible loss (or a range of loss).

Other Contingencies and Commitments	3 Months Ended
Other Contingencies and Commitments	Mar. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Other Contingencies and Commitments	Other Contingencies and Commitments Income Taxes The company calculates its income tax expense and liabilities quarterly. These liabilities generally are subject to audit and are not finalized with the individual taxing authorities until several years after the end of the annual period for which income taxes have been calculated. Refer to Note 8 on page 14 for a discussion of the periods for which tax returns have been audited for the company’s major tax jurisdictions. As discussed on page 14, Chevron is currently assessing the potential impact of a decision by the U.S. Court of Appeals for the Third Circuit that disallows the Historic Rehabilitation Tax Credits claimed by an unrelated taxpayer. It is reasonably possible that the specific findings from this assessment could result in a significant increase in unrecognized tax benefits, which may have a material effect on the company's results of operations in any one reporting period. The company does not expect settlement of income tax liabilities associated with uncertain tax positions to have a material effect on its consolidated financial position or liquidity. Guarantees The company and its subsidiaries have certain other contingent liabilities with respect to guarantees, direct or indirect, of debt of affiliated companies or third parties. Under the terms of the guarantee arrangements, the company would generally be required to perform should the affiliated company or third party fail to fulfill its obligations under the arrangements. In some cases, the guarantee arrangements may have recourse provisions that would enable the company to recover any payments made under the terms of the guarantees from assets provided as collateral. Indemnifications In the acquisition of Unocal, the company assumed certain indemnities relating to contingent environmental liabilities associated with assets that were sold in 1997. The acquirer of those assets shared in certain environmental remediation costs up to a maximum obligation of $200 million, which had been reached at December 31, 2009. Under the indemnification agreement, after reaching the $200 million obligation, Chevron is solely responsible until April 2022, when the indemnification expires. The environmental conditions or events that are subject to these indemnities must have arisen prior to the sale of the assets in 1997. Although the company has provided for known obligations under this indemnity that are probable and reasonably estimable, the amount of additional future costs may be material to results of operations in the period in which they are recognized. The company does not expect these costs will have a material effect on its consolidated financial position or liquidity. Off-Balance-Sheet Obligations The company and its subsidiaries have certain other contingent liabilities with respect to long-term unconditional purchase obligations and commitments, including throughput and take-or-pay agreements, some of which relate to suppliers’ financing arrangements. The agreements typically provide goods and services, such as pipeline and storage capacity, drilling rigs, utilities, and petroleum products, to be used or sold in the ordinary course of the company’s business. Environmental The company is subject to loss contingencies pursuant to laws, regulations, private claims and legal proceedings related to environmental matters that are subject to legal settlements or that in the future may require the company to take action to correct or ameliorate the effects on the environment of prior release of chemicals or petroleum substances, including MTBE, by the company or other parties. Such contingencies may exist for various sites, including, but not limited to, federal Superfund sites and analogous sites under state laws, refineries, crude oil fields, service stations, terminals, land development areas, and mining operations, whether operating, closed or divested. These future costs are not fully determinable due to such factors as the unknown magnitude of possible contamination, the unknown timing and extent of the corrective actions that may be required, the determination of the company’s liability in proportion to other responsible parties, and the extent to which such costs are recoverable from third parties. Although the company has provided for known environmental obligations that are probable and reasonably estimable, the amount of additional future costs may be material to results of operations in the period in which they are recognized. The company does not expect these costs will have a material effect on its consolidated financial position or liquidity. Also, the company does not believe its obligations to make such expenditures have had, or will have, any significant impact on the company’s competitive position relative to other U.S. or international petroleum or chemical companies. Other Contingencies On April 26, 2010, a California appeals court issued a ruling related to the adequacy of an Environmental Impact Report (EIR) supporting the issuance of certain permits by the city of Richmond, California, to replace and upgrade certain facilities at Chevron's refinery in Richmond. Settlement discussions with plaintiffs in the case ended late fourth quarter 2010, and on March 3, 2011, the trial court entered a final judgment and peremptory writ ordering the City to set aside the project EIR and conditional use permits and enjoining Chevron from any further work. On May 23, 2011, the company filed an application with the City Planning Department for a conditional use permit for a revised project to complete construction of the hydrogen plant, certain sulfur removal facilities and related infrastructure. On June 10, 2011, the City published its Notice of Preparation of the revised EIR for the project. The revised and recirculated EIR is intended to comply with the appeals court decision. Management believes the outcomes associated with the project are uncertain. Due to the uncertainty of the company's future course of action, or potential outcomes of any action or combination of actions, management does not believe an estimate of the financial effects, if any, can be made at this time. Chevron receives claims from and submits claims to customers; trading partners; U.S. federal, state and local regulatory bodies; governments; contractors; insurers; and suppliers. The amounts of these claims, individually and in the aggregate, may be significant and take lengthy periods to resolve. The company and its affiliates also continue to review and analyze their operations and may close, abandon, sell, exchange, acquire or restructure assets to achieve operational or strategic benefits and to improve competitiveness and profitability. These activities, individually or together, may result in gains or losses in future periods.

The entire disclosure for commitments and contingencies.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
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Fair Value Measurements

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements

Accounting standards for fair value measurement (ASC 820) establish a framework for measuring fair value and stipulate disclosures about fair value measurements. The standards apply to recurring and nonrecurring fair value measurements of financial and nonfinancial assets and liabilities. Among the required disclosures is the fair value hierarchy of inputs the company uses to value an asset or a liability. The three levels of the fair value hierarchy are described as follows:

Level 1: Quoted prices (unadjusted) in active markets for identical assets and liabilities. For the company, Level 1 inputs include exchange-traded futures contracts for which the parties are willing to transact at the exchange-quoted price and marketable securities that are actively traded.

Level 2: Inputs other than Level 1 that are observable, either directly or indirectly. For the company, Level 2 inputs include quoted prices for similar assets or liabilities, prices obtained through third-party broker quotes and prices that can be corroborated with other observable inputs for substantially the complete term of a contract.

Level 3: Unobservable inputs. The company does not use Level 3 inputs for any of its recurring fair value measurements. Level 3 inputs may be required for the determination of fair value associated with certain nonrecurring measurements of nonfinancial assets and liabilities.

The fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at March 31, 2013 and December 31, 2012 is as follows:

Assets and Liabilities Measured at Fair Value on a Recurring Basis

(Millions of dollars)



	At March 31, 2013								At December 31, 2012
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Marketable Securities	$	266	$	266	$	—	$	—	$	266	$	266	$	—	$	—
Derivatives	64		2		62		—		86		21		65		—
Total Assets at Fair Value	$	330	$	268	$	62	$	—	$	352	$	287	$	65	$	—
Derivatives	110		106		4		—		149		148		1		—
Total Liabilities at Fair Value	$	110	$	106	$	4	$	—	$	149	$	148	$	1	$	—

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 March 31, 2013.

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. For derivatives with identical or similar provisions as contracts that are publicly traded on a regular basis, the company uses the market values of the publicly traded instruments as an input for fair value calculations.

The company’s derivative instruments principally include futures, swaps, options and forward contracts for crude oil, natural gas and refined products. 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. The company incorporates internal review, evaluation and assessment procedures, including a comparison of Level 2 fair values derived from the company’s internally developed forward curves (on a sample basis), with the pricing information to document reasonable, logical and supportable fair value determinations and proper level of classification.

Assets carried at fair value at March 31, 2013, and December 31, 2012, are as follows:

Cash and Cash Equivalents and Time Deposits The company holds cash equivalents and bank 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 $17.4 billion and $20.9 billion at March 31, 2013, and December 31, 2012, respectively. The instruments held in “Time deposits” are bank time deposits with maturities greater than 90 days and had carrying/fair values of $1.4 billion and $0.7 billion at March 31, 2013, and December 31, 2012, respectively. The fair values of cash, cash equivalents and bank time deposits are classified as Level 1 and reflect the cash that would have been received if the instruments were settled at March 31, 2013.

Restricted Cash had a carrying/fair value of $1.1 billion and $1.5 billion at March 31, 2013, and December 31, 2012, respectively. At March 31, 2013, restricted cash is classified as Level 1 and is reported in “Deferred charges and other assets” on the face of the Consolidated Balance Sheet, and includes restricted funds related to certain Upstream abandonment activities, tax payments, funds held in escrow for an asset acquisition and a capital investment project.

The carrying values of other short-term financial assets and liabilities, including short-term debt reclassified to long-term, on the consolidated balance sheet approximate their fair values. Fair value remeasurements of other financial instruments at March 31, 2013 and 2012 were not material.

The fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis at March 31, 2013 is as follows:

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

(Millions of dollars)



	At March 31, 2013
	Total		Level 1		Level 2		Level 3		Before-Tax Loss
Properties, plant and equipment, net (held and used)	$	—	$	—	$	—	$	—	$	4
Properties, plant and equipment, net (held for sale)	104		—		—		104		78
Investments and advances	—		—		—		—		—
Total Assets at Fair Value	$	104	$	—	$	—	$	104	$	82

Properties, plant and equipment The company did not have any material impairments of long-lived assets measured at fair value on a nonrecurring basis to report in first quarter 2013.

Investments and advances The company did not have any impairments of investments and advances measured at fair value on a nonrecurring basis to report in first quarter 2013.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Topic 820
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

3 Months Ended

Mar. 31, 2013

Derivative Instruments and Hedging Activities

The company’s derivative 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 a 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 commodities and other derivatives activities.

Derivative instruments measured at fair value at March 31, 2013, and December 31, 2012, and their classification on the Consolidated Balance Sheet and Consolidated Statement of Income are as follows:

Consolidated Balance Sheet: Fair Value of Derivatives Not Designated as Hedging Instruments

(Millions of Dollars)



Type of Contract	Balance Sheet Classification	At March 31 2013		At December 31 2012
Commodity	Accounts and notes receivable, net	$	41	$	57
Commodity	Long-term receivables, net	23		29
Total Assets at Fair Value		$	64	$	86
Commodity	Accounts payable	$	77	$	112
Commodity	Deferred credits and other noncurrent obligations	33		37
Total Liabilities at Fair Value		$	110	$	149

Consolidated Statement of Income: The Effect of Derivatives Not Designated as Hedging Instruments

(Millions of dollars)



		Gain / (Loss) Three Months Ended March 31
Type of Contract	Statement of Income Classification	2013			2012
Commodity	Sales and other operating revenues	$	(75	)	$	(118	)
Commodity	Purchased crude oil and products	(4		)	(19		)
Commodity	Other income	(1		)	5
		$	(80	)	$	(132	)

The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Statement of Financial Position at March 31, 2013.

Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities

(Millions of dollars)



	At March 31, 2013
	Gross Amount Recognized		Gross Amounts Offset in Statement of Financial Position		Net Amounts Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position - Financial Instruments		Net Amount
Derivative Assets	$	999	$	935	$	64	$	57	$	7

Derivative Liabilities	$	1,045	$	935	$	110	$	12	$	98

Derivative assets and liabilities are classified on the Consolidated Balance Sheet as short-term and long-term accounts receivable and accounts payable.

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. Amounts not offset on the Consolidated Balance sheet represent positions that do not meet all the conditions for "a right of offset".

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

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Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Schedule of Accumulated Other Comprehensive Income (Loss)

Long-Term Debt	3 Months Ended
Long-Term Debt	Mar. 31, 2013
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt The net carrying value of long-term debt, excluding amounts reclassified from short-term, at March 31, 2013, and December 31, 2012 is $6.0 billion and $6.1 billion, respectively. The fair value of long-term debt at March 31, 2013, and December 31, 2012 is $6.6 billion and $6.8 billion, respectively. Long-term debt primarily includes corporate issued bonds. The fair value of corporate bonds is $5.8 billion and classified as Level 1. The fair value of the other bonds is $0.8 billion and classified as Level 2.

Accounting for Suspended Exploratory Wells	3 Months Ended
Accounting for Suspended Exploratory Wells	Mar. 31, 2013
Accounting for Suspended Exploratory Wells [Abstract]
Accounting for Suspended Exploratory Wells	Accounting for Suspended Exploratory Wells Accounting standards for the costs of exploratory wells (ASC 932) provide that exploratory well costs continue to be capitalized after the completion of drilling when (a) the well has found a sufficient quantity of reserves to justify its completion as a producing well and (b) the entity is making sufficient progress assessing the reserves and the economic and operating viability of the project. If either condition is not met or if an entity obtains information that raises substantial doubt about the economic or operational viability of the project, the exploratory well would be assumed to be impaired, and its costs, net of any salvage value, would be charged to expense. (Note that an entity is not required to complete the exploratory well as a producing well.) The company’s capitalized cost of suspended wells at March 31, 2013, was $2.9 billion, a net increase of $220 million from year-end 2012, primarily due to drilling activities in the United States, Australia and Canada.

Accounting Policies (Policies)	3 Months Ended
Accounting Policies (Policies)	Mar. 31, 2013
Accounting Policies [Abstract]
Segment Reporting	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” as defined in accounting standards for segment reporting (ASC 280). 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 project. 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 mining operations, power generation businesses, worldwide cash management and debt financing activities, corporate administrative functions, insurance operations, real estate activities, energy services, alternative fuels, and technology companies. The segments are separately managed for investment purposes under a structure that includes “segment managers” who report to the company’s “chief operating decision maker” (CODM) (terms as defined in ASC 280). The CODM is the company’s Executive Committee (EXCOM), a committee of senior officers that includes the Chief Executive Officer, and EXCOM reports to the Board of Directors of Chevron Corporation. The operating segments represent components of the company, as described in accounting standards for segment reporting (ASC 280), 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. Segment managers for the reportable segments are directly accountable to, and maintain regular contact with, the company’s CODM to discuss the segment’s operating activities and financial performance. The CODM approves annual capital and exploratory budgets at the reportable segment level, as well as reviews capital and exploratory funding for major projects and approves major changes to the annual capital and exploratory budgets. However, business-unit managers within the operating segments are directly responsible for decisions relating to project implementation and all other matters connected with daily operations. Company officers who are members of the EXCOM also have individual management responsibilities and participate in other committees for purposes other than acting as the CODM. 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).
Fair Value of Financial Instruments	Accounting standards for fair value measurement (ASC 820) establish a framework for measuring fair value and stipulate disclosures about fair value measurements. The standards apply to recurring and nonrecurring fair value measurements of financial and nonfinancial assets and liabilities. Among the required disclosures is the fair value hierarchy of inputs the company uses to value an asset or a liability. The three levels of the fair value hierarchy are described as follows: Level 1: Quoted prices (unadjusted) in active markets for identical assets and liabilities. For the company, Level 1 inputs include exchange-traded futures contracts for which the parties are willing to transact at the exchange-quoted price and marketable securities that are actively traded. Level 2: Inputs other than Level 1 that are observable, either directly or indirectly. For the company, Level 2 inputs include quoted prices for similar assets or liabilities, prices obtained through third-party broker quotes and prices that can be corroborated with other observable inputs for substantially the complete term of a contract. Level 3: Unobservable inputs. The company does not use Level 3 inputs for any of its recurring fair value measurements. Level 3 inputs may be required for the determination of fair value associated with certain nonrecurring measurements of nonfinancial assets and liabilities.

Changes in Accumulated Other Comprehensive Losses (Tables)

3 Months Ended

Mar. 31, 2013

Equity [Abstract]

Changes in Accumulated Other Comprehensive Income (Loss) by Component ⁽¹⁾

(Millions of Dollars)



	Three Months Ended March 31, 2013
	Currency Translation Adjustment			Unrealized Holding Gains (Losses) on Securities			Derivatives			Defined Benefit Plans			Total

Balance at January 1	$	(65	)	$	1		$	125		$	(6,430	)	$	(6,369	)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	(11		)	(1		)	—			(25		)	(37		)
Reclassifications⁽²⁾	—			—			(3		)	140			137
Net Other Comprehensive Income (Loss)	(11		)	(1		)	(3		)	115			100
Balance at March 31	$	(76	)	$	—		$	122		$	(6,315	)	$	(6,269	)

⁽¹⁾ All amounts are net of tax.

Noncontrolling Interests (Tables)

3 Months Ended

Mar. 31, 2013

Noncontrolling Interest [Abstract]

Activity for equity attributable to noncontrolling interests

Activity for the equity attributable to noncontrolling interests for the first three months of 2013 and 2012 is as follows:



	2013									2012
	Chevron Corporation Stockholders’ Equity			Noncontrolling Interest			Total Equity			Chevron Corporation Stockholders’ Equity			Noncontrolling Interest			Total Equity
	(Millions of dollars)
Balance at January 1	$	136,524		$	1,308		$	137,832		$	121,382		$	799		$	122,181
Net income	6,178			61			6,239			6,471			28			6,499
Dividends	(1,736		)	—			(1,736		)	(1,590		)	—			(1,590		)
Distributions to noncontrolling interests	—			(10		)	(10		)	—			(8		)	(8		)
Treasury shares, net	(1,041		)	—			(1,041		)	(1,016		)	—			(1,016		)
Other changes, net*	209			(7		)	202			260			—			260
Balance at March 31	$	140,134		$	1,352		$	141,486		$	125,507		$	819		$	126,326

_________________________________

* Includes components of comprehensive income, which are disclosed separately in the Consolidated Statement of Comprehensive Income.

Information Relating to the Consolidated Statement of Cash Flows (Tables)

3 Months Ended

Mar. 31, 2013

Supplemental Cash Flow Elements [Abstract]

Net (increase) decrease in operating working capital

The “Net increase in operating working capital” was composed of the following operating changes:



	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Increase in accounts and notes receivable	$	(994	)	$	(153	)
Increase in inventories	(520		)	(1,847		)
Increase in prepaid expenses and other current assets	(437		)	(119		)
Decrease in accounts payable and accrued liabilities	(1,759		)	(1,027		)
Increase in income and other taxes payable	350			351
Net increase in operating working capital	$	(3,360	)	$	(2,795	)

Cash payment for interest on debt and for income taxes

“Net Cash Provided by Operating Activities” included the following cash payments for interest on debt and for income taxes:



	Three Months Ended March 31
	2013		2012
	(Millions of dollars)
Interest on debt (net of capitalized interest)	$	—	$	36
Income taxes	3,434		4,140

Net sales (purchases) of time deposits

The “Net (purchases) sales of time deposits” consisted of the following gross amounts:



	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Time deposits purchased	$	(708	)	$	(8	)
Time deposits matured	8			3,308
Net (purchases) sales of time deposits	$	(700	)	$	3,300

Net sales (purchases) of marketable securities

The “Net sales of marketable securities” consisted of the following gross amounts:



	Three Months Ended March 31
	2013		2012
	(Millions of dollars)
Marketable securities purchased	$	—	$	—
Marketable securities sold	—		11
Net sales of marketable securities	$	—	$	11

Capital expenditures

The major components of “Capital expenditures” and the reconciliation of this amount to the capital and exploratory expenditures, including equity affiliates, are as follows:



	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Additions to properties, plant and equipment	$	7,935		$	5,511
Additions to investments	262			192
Current year dry hole expenditures	12			205
Payments for other liabilities and assets, net	(17		)	(13		)
Capital expenditures	8,192			5,895
Expensed exploration expenditures	235			161
Assets acquired through capital lease obligations	2			—
Capital and exploratory expenditures, excluding equity affiliates	8,429			6,056
Company’s share of expenditures by equity affiliates	453			361
Capital and exploratory expenditures, including equity affiliates	$	8,882		$	6,417

Operating Segments and Geographic Data (Tables)

3 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

Segment Earnings

Earnings by major operating area for the three-month period ended March 31, 2013, and 2012, are presented in the following table:



Segment Earnings	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Upstream
United States	$	1,132		$	1,529
International	4,784			4,642
Total Upstream	5,916			6,171
Downstream
United States	135			459
International	566			345
Total Downstream	701			804
Total Segment Earnings	6,617			6,975
All Other
Interest Income	21			20
Other	(460		)	(524		)
Net Income Attributable to Chevron Corporation	$	6,178		$	6,471

Segment Assets

Segment assets at March 31, 2013, and December 31, 2012, are as follows:



Segment Assets	At March 31 2013		At December 31 2012
	(Millions of dollars)
Upstream
United States	$	42,477	$	41,891
International	120,926		115,806
Goodwill	4,640		4,640
Total Upstream	168,043		162,337
Downstream
United States	23,982		23,023
International	20,958		20,024
Total Downstream	44,940		43,047
Total Segment Assets	212,983		205,384
All Other
United States	6,118		7,727
International	18,309		19,871
Total All Other	24,427		27,598
Total Assets — United States	72,577		72,641
Total Assets — International	160,193		155,701
Goodwill	4,640		4,640
Total Assets	$	237,410	$	232,982

Segment Sales and Other Operating Revenues



Sales and Other Operating Revenues	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Upstream
United States	$	6,267		$	6,201
International	12,911			14,515
Subtotal	19,178			20,716
Intersegment Elimination — United States	(4,194		)	(4,597		)
Intersegment Elimination — International	(8,356		)	(9,226		)
Total Upstream	6,628			6,893
Downstream
United States	20,430			22,684
International	27,178			29,250
Subtotal	47,608			51,934
Intersegment Elimination — United States	(11		)	(15		)
Intersegment Elimination — International	(16		)	(11		)
Total Downstream	47,581			51,908
All Other
United States	378			326
International	6			12
Subtotal	384			338
Intersegment Elimination — United States	(292		)	(231		)
Intersegment Elimination — International	(5		)	(12		)
Total All Other	87			95
Sales and Other Operating Revenues
United States	27,075			29,211
International	40,095			43,777
Subtotal	67,170			72,988
Intersegment Elimination — United States	(4,497		)	(4,843		)
Intersegment Elimination — International	(8,377		)	(9,249		)
Total Sales and Other Operating Revenues	$	54,296		$	58,896

Summarized Financial Data - Chevron U.S.A. Inc. (Tables)

3 Months Ended

Mar. 31, 2013

Summarized Financial Data of Subsidiary One [Abstract]

Summarized Financial Data - Chevron U.S.A. Inc.

The summarized financial information for CUSA and its consolidated subsidiaries is as follows:



	Three Months Ended March 31
	2013		2012
	(Millions of dollars)
Sales and other operating revenues	$	42,777	$	47,134
Costs and other deductions	41,717		45,106
Net income attributable to CUSA	889		1,364

Summarized Financial Data and its Subsidiary



	At March 31 2013		At December 31 2012
	(Millions of dollars)
Current assets	$	18,881	$	18,983
Other assets	52,804		52,082
Current liabilities	17,703		18,161
Other liabilities	26,689		26,472
Total CUSA net equity	$	27,293	$	26,432
Memo: Total debt	$	14,484	$	14,482

Summarized Financial Data - Chevron Transport Corporation (Tables)

3 Months Ended

Mar. 31, 2013

Summarized Financial Data of Subsidiary Two [Abstract]

Summarized Financial Data - Chevron Transport Corporation

Summarized income statement information for CTC and its consolidated subsidiaries is as follows:



	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Sales and other operating revenues	$	131		$	145
Costs and other deductions	172			183
Net loss attributable to CTC	(41		)	(38		)

Summarized Financial Data and its Subsidiary



	At March 31 2013			At December 31 2012
	(Millions of dollars)
Current assets	$	212		$	199
Other assets	312			313
Current liabilities	210			154
Other liabilities	414			415
Total CTC net (deficit) equity	$	(100	)	$	(57	)

Employee Benefits (Tables)

3 Months Ended

Mar. 31, 2013

Compensation and Retirement Disclosure [Abstract]

Components of Net Periodic Benefit Cost

The components of net periodic benefit costs for 2013 and 2012 are as follows:



	Three Months Ended March 31
	2013			2012
	(Millions of dollars)
Pension Benefits
United States
Service cost	$	124		$	113
Interest cost	118			109
Expected return on plan assets	(175		)	(159		)
Amortization of prior service credits	—			(2		)
Amortization of actuarial losses	121			118
Settlement losses	57			74
Total United States	245			253
International
Service cost	48			44
Interest cost	77			79
Expected return on plan assets	(68		)	(66		)
Amortization of prior service costs	5			5
Amortization of actuarial losses	36			33
Total International	98			95
Net Periodic Pension Benefit Costs	$	343		$	348
Other Benefits*
Service cost	$	18		$	15
Interest cost	40			39
Amortization of prior service credits	(12		)	(18		)
Amortization of actuarial losses	13			15
Settlement gains	—			(26		)
Net Periodic Other Benefit Costs	$	59		$	25

_________________________________

* Includes costs for U.S. and international OPEB plans. Obligations for plans outside the United States are not significant relative to the company’s total OPEB obligation.

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at March 31, 2013 and December 31, 2012 is as follows:

Assets and Liabilities Measured at Fair Value on a Recurring Basis

(Millions of dollars)



	At March 31, 2013								At December 31, 2012
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Marketable Securities	$	266	$	266	$	—	$	—	$	266	$	266	$	—	$	—
Derivatives	64		2		62		—		86		21		65		—
Total Assets at Fair Value	$	330	$	268	$	62	$	—	$	352	$	287	$	65	$	—
Derivatives	110		106		4		—		149		148		1		—
Total Liabilities at Fair Value	$	110	$	106	$	4	$	—	$	149	$	148	$	1	$	—

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

The fair value hierarchy for assets and liabilities measured at fair value on a nonrecurring basis at March 31, 2013 is as follows:

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

(Millions of dollars)



	At March 31, 2013
	Total		Level 1		Level 2		Level 3		Before-Tax Loss
Properties, plant and equipment, net (held and used)	$	—	$	—	$	—	$	—	$	4
Properties, plant and equipment, net (held for sale)	104		—		—		104		78
Investments and advances	—		—		—		—		—
Total Assets at Fair Value	$	104	$	—	$	—	$	104	$	82

Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Consolidated Balance Sheet: Fair Value of Derivatives Not Designated as Hedging Instruments

Derivative instruments measured at fair value at March 31, 2013, and December 31, 2012, and their classification on the Consolidated Balance Sheet and Consolidated Statement of Income are as follows:

Consolidated Balance Sheet: Fair Value of Derivatives Not Designated as Hedging Instruments

(Millions of Dollars)



Type of Contract	Balance Sheet Classification	At March 31 2013		At December 31 2012
Commodity	Accounts and notes receivable, net	$	41	$	57
Commodity	Long-term receivables, net	23		29
Total Assets at Fair Value		$	64	$	86
Commodity	Accounts payable	$	77	$	112
Commodity	Deferred credits and other noncurrent obligations	33		37
Total Liabilities at Fair Value		$	110	$	149

Consolidated Statement of Income: The Effect of Derivatives Not Designated as Hedging Instruments

(Millions of dollars)



		Gain / (Loss) Three Months Ended March 31
Type of Contract	Statement of Income Classification	2013			2012
Commodity	Sales and other operating revenues	$	(75	)	$	(118	)
Commodity	Purchased crude oil and products	(4		)	(19		)
Commodity	Other income	(1		)	5
		$	(80	)	$	(132	)

Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities

The table below represents gross and net derivative assets and liabilities subject to netting agreements on the Statement of Financial Position at March 31, 2013.

Consolidated Balance Sheet: The Effect of Netting Derivative Assets and Liabilities

(Millions of dollars)



	At March 31, 2013
	Gross Amount Recognized		Gross Amounts Offset in Statement of Financial Position		Net Amounts Presented in the Statement of Financial Position		Gross Amounts Not Offset in the Statement of Financial Position - Financial Instruments		Net Amount
Derivative Assets	$	999	$	935	$	64	$	57	$	7

Derivative Liabilities	$	1,045	$	935	$	110	$	12	$	98

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Changes in Accumulated Other Comprehensive Losses (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2013

Mar. 31, 2012

Components of Other Comprehensive Income (Loss):

^[1]

$ (6,369)

^[1]

(37)

^[1],[2]

137

100

^[1]

$ 147

Currency Translation Adjustment [Member]

^[1]

(6,269)

Income tax expense

4,044

$ 5,570

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Components of Other Comprehensive Income (Loss):

^[1]

(65)

^[1]

(11)

^[1],[2]

^[1]

(11)

Unrealized Holding Gains (Losses) on Securities [Member]

^[1]

(76)

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Components of Other Comprehensive Income (Loss):

^[1]

^[1]

(1)

^[1],[2]

^[1]

(1)

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

^[1]

Derivatives [Member]

Components of Other Comprehensive Income (Loss):

^[1]

125

^[1]

^[1],[2]

(3)

^[1]

(3)

Defined Benefit Plans [Member]

^[1]

122

Accumulated Other Comprehensive Income (Loss) [Roll Forward]

Components of Other Comprehensive Income (Loss):

^[1]

(6,430)

^[1]

(25)

^[1],[2]

140

^[1]

115

Defined Benefit Plans [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]

^[1]

(6,315)

Components of Other Comprehensive Income (Loss):

Employee benefits reclassification component, included in employee benefit costs

220

Income tax expense

$ 80

[1]	All amounts are net of tax.
[2]	Refer to Note 9, Employee Benefits for reclassified components totaling $220 million that are included in employee benefit costs for the three months ending March 31, 2013. Related income taxes for the same period, totaling $80 million, are reflected in Income Tax Expense on the Consolidated Statement of Income. All other reclassified amounts were insignificant.

Noncontrolling Interests (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2013

Mar. 31, 2012

Activity for equity attributable to noncontrolling interests

$ 137,832

$ 122,181

Distributions to noncontrolling interests

6,239

6,499

Dividends

(1,736)

(1,590)

(10)

(8)

Treasury shares, net

(1,041)

(1,016)

Other changes, net

^[1]

202

260

Chevron Corporation Stockholders' Equity [Member]

141,486

126,326

Activity for equity attributable to noncontrolling interests

136,524

121,382

6,178

6,471

Dividends

(1,736)

(1,590)

Treasury shares, net

(1,041)

(1,016)

Other changes, net

^[1]

209

260

Noncontrolling Interest [Member]

140,134

125,507

Activity for equity attributable to noncontrolling interests

1,308

799

Distributions to noncontrolling interests

(10)

(8)

Other changes, net

^[1]

(7)

$ 1,352

$ 819

[1]	Includes components of comprehensive income, which are disclosed separately in the Consolidated Statement of Comprehensive Income.

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569616-111683

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591552-111686

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a),(c)
-URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591551-111686

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A1, A4, A5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

Information Relating to the Consolidated Statement of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Net (increase) decrease in operating working capital
Increase in accounts and notes receivable	$ (994)	$ (153)
Increase in inventories	(520)	(1,847)
Increase in prepaid expenses and other current assets	(437)	(119)
Decrease in accounts payable and accrued liabilities	(1,759)	(1,027)
Increase in income and other taxes payable	350	351
Net (increase) decrease in operating working capital	(3,360)	(2,795)
Cash Payment for Interest on Debt and For Income Taxes
Interest on debt (net of capitalized interest)	0	36
Income taxes	3,434	4,140
Net (purchases) sales of time deposits
Time deposits purchased	(708)	(8)
Time deposits matured	8	3,308
Net (purchases) sales of time deposits	(700)	3,300
Net sales of marketable securities
Marketable securities purchased	0	0
Marketable securities sold	0	11
Net sales of marketable securities	0	11
Capital expenditures
Additions to properties, plant and equipment	7,935	5,511
Additions to investments	262	192
Current year dry hole expenditures	12	205
Payments for other liabilities and assets, net	(17)	(13)
Capital expenditures	8,192	5,895
Expensed exploration expenditures	235	161
Assets acquired through capital lease obligations	2	0
Capital and exploratory expenditures, excluding equity affiliates	8,429	6,056
Company's share of expenditures by equity affiliates	453	361
Capital and exploratory expenditures, including equity affiliates	$ 8,882	$ 6,417

Information Relating to the Consolidated Statement of Cash Flows (Details Textual) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Supplemental Cash Flow Elements [Abstract]
Reduction for income tax benefits associated with stock options exercised	$ 28	$ 26
Net purchases of treasury shares	$ 1,300	$ 1,300
Stock repurchased during period (in shares)	10.8	11.6
Stock repurchased during period	$ 1,250	$ 1,250

Operating Segments and Geographic Data (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Segment Reporting Information [Line Items]
Segment Earnings	$ 6,178	$ 6,471
Upstream [Member]
Segment Reporting Information [Line Items]
Segment Earnings	5,916	6,171
Downstream [Member]
Segment Reporting Information [Line Items]
Segment Earnings	701	804
Reportable Segment [Member]
Segment Reporting Information [Line Items]
Segment Earnings	6,617	6,975
All Other Segments [Member]
Segment Reporting Information [Line Items]
Interest Income	21	20
Other	(460)	(524)
United States [Member] \| Upstream [Member]
Segment Reporting Information [Line Items]
Segment Earnings	1,132	1,529
United States [Member] \| Downstream [Member]
Segment Reporting Information [Line Items]
Segment Earnings	135	459
International [Member] \| Upstream [Member]
Segment Reporting Information [Line Items]
Segment Earnings	4,784	4,642
International [Member] \| Downstream [Member]
Segment Reporting Information [Line Items]
Segment Earnings	$ 566	$ 345

Operating Segments and Geographic Data (Details 1) - USD ($) $ in Millions	Mar. 31, 2013	Dec. 31, 2012
Segment Assets
Segment Assets	$ 237,410	$ 232,982
Goodwill	4,640	4,640
United States [Member]
Segment Assets
Segment Assets	72,577	72,641
International [Member]
Segment Assets
Segment Assets	160,193	155,701
Upstream [Member]
Segment Assets
Segment Assets	168,043	162,337
Goodwill	4,640	4,640
Upstream [Member] \| United States [Member]
Segment Assets
Segment Assets	42,477	41,891
Upstream [Member] \| International [Member]
Segment Assets
Segment Assets	120,926	115,806
Downstream [Member]
Segment Assets
Segment Assets	44,940	43,047
Downstream [Member] \| United States [Member]
Segment Assets
Segment Assets	23,982	23,023
Downstream [Member] \| International [Member]
Segment Assets
Segment Assets	20,958	20,024
Reportable Segment [Member]
Segment Assets
Segment Assets	212,983	205,384
All Other Segments [Member]
Segment Assets
Segment Assets	24,427	27,598
All Other Segments [Member] \| United States [Member]
Segment Assets
Segment Assets	6,118	7,727
All Other Segments [Member] \| International [Member]
Segment Assets
Segment Assets	$ 18,309	$ 19,871

Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6388280&loc=d3e13770-109266

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-Clause 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-Subparagraph l
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Operating Segments and Geographic Data (Details 2) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2013

Mar. 31, 2012

^[1]

$ 54,296

$ 58,896

Upstream [Member]

Upstream [Member] | United States [Member]

6,628

6,893

Upstream [Member] | International [Member]

6,267

6,201

Upstream [Member] | Subtotal [Member]

12,911

14,515

Upstream [Member] | Intersegment Elimination - United States [Member]

19,178

20,716

Upstream [Member] | Intersegment Elimination - International [Member]

(4,194)

(4,597)

(8,356)

(9,226)

Downstream [Member]

Downstream [Member] | United States [Member]

47,581

51,908

Downstream [Member] | International [Member]

20,430

22,684

Downstream [Member] | Subtotal [Member]

27,178

29,250

Downstream [Member] | Intersegment Elimination - United States [Member]

47,608

51,934

Downstream [Member] | Intersegment Elimination - International [Member]

(11)

(15)

All Other Segments [Member]

(16)

(11)

All Other Segments [Member] | United States [Member]

All Other Segments [Member] | International [Member]

378

326

All Other Segments [Member] | Subtotal [Member]

All Other Segments [Member] | Intersegment Elimination - United States [Member]

384

338

All Other Segments [Member] | Intersegment Elimination - International [Member]

(292)

(231)

Sales and Other Operating Revenue [Member]

(5)

(12)

Sales and Other Operating Revenue [Member] | United States [Member]

54,296

58,896

Sales and Other Operating Revenue [Member] | International [Member]

27,075

29,211

Sales and Other Operating Revenue [Member] | Subtotal [Member]

40,095

43,777

Sales and Other Operating Revenue [Member] | Intersegment Elimination - United States [Member]

67,170

72,988

Sales and Other Operating Revenue [Member] | Intersegment Elimination - International [Member]

(4,497)

(4,843)

Statement of Income - Chevron U.S.A. Inc.

$ (8,377)

$ (9,249)

[1]	* Includes excise, value-added and similar taxes:2,033 1,787

Operating Segments and Geographic Data (Details Textual)	3 Months Ended
	Mar. 31, 2013 segment
Segment Reporting [Abstract]
Number of reportable segments	2
Number of operating segments	2

Summarized Financial Data - Chevron U.S.A. Inc. (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2013

Mar. 31, 2012

^[1]

$ 54,296

$ 58,896

46,535

48,636

Chevron U.S.A. Inc. [Member]

6,178

6,471

Statement of Income - Chevron U.S.A. Inc.

42,777

47,134

41,717

45,106

$ 889

$ 1,364

[1]	* Includes excise, value-added and similar taxes:2,033 1,787

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28, 29, 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

Summarized Financial Data - Chevron U.S.A. Inc. (Details 1) - USD ($) $ in Millions	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012	Dec. 31, 2011
Balance Sheet - Chevron U.S.A. Inc.
Current assets	$ 54,696	$ 55,720
Current liabilities	34,685	34,212
Total Equity	141,486	137,832	$ 126,326	$ 122,181
Chevron U.S.A. Inc. [Member]
Balance Sheet - Chevron U.S.A. Inc.
Current assets	18,881	18,983
Other assets	52,804	52,082
Current liabilities	17,703	18,161
Other liabilities	26,689	26,472
Total Equity	27,293	26,432
Memo: Total debt	$ 14,484	$ 14,482

Summarized Financial Data - Chevron Transport Corporation

Summarized Financial Data - Chevron Transport Corporation (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2013

Mar. 31, 2012

^[1]

$ 54,296

$ 58,896

Net loss attributable to CTC

46,535

48,636

6,178

6,471

Chevron Transport Corporation [Member]

Summarized Financial Data - Chevron Transport Corporation

131

145

Net loss attributable to CTC

172

183

$ (41)

$ (38)

[1]	* Includes excise, value-added and similar taxes:2,033 1,787

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Summarized Financial Data - Chevron Transport Corporation (Details 1) - USD ($) $ in Millions	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012	Dec. 31, 2011
Balance Sheet - Chevron Transport Corporation
Current assets	$ 54,696	$ 55,720
Current liabilities	34,685	34,212
Total Equity	141,486	137,832	$ 126,326	$ 122,181
Chevron Transport Corporation [Member]
Balance Sheet - Chevron Transport Corporation
Current assets	212	199
Other assets	312	313
Current liabilities	210	154
Other liabilities	414	415
Total Equity	$ (100)	$ (57)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2013	Mar. 31, 2012
Income Tax Disclosure [Abstract]
Income tax expense	$ 4,044	$ 5,570
Effective tax rates	39.00%	46.00%

Employee Benefits (Details) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2013

Mar. 31, 2012

$ 343

$ 348

U.S. [Member]

Expected return on plan assets

Service cost

124

113

Interest cost

118

109

(175)

(159)

Amortization of prior service costs (credits)

(2)

Amortization of actuarial losses

121

118

Settlement losses (gains)

245

253

International [Member]

Expected return on plan assets

Service cost

Interest cost

(68)

(66)

Amortization of prior service costs (credits)

Amortization of actuarial losses

Other Benefits [Member]

Amortization of prior service costs (credits)

Service cost

^[1]

Interest cost

^[1]

^[1]

(12)

(18)

Amortization of actuarial losses

^[1]

Settlement losses (gains)

^[1]

(26)

$ 59

$ 25

[1]	Includes costs for U.S. and international OPEB plans. Obligations for plans outside the United States are not significant relative to the company’s total OPEB obligation.

Employee Benefits (Details Textual) $ in Millions	3 Months Ended
Employee Benefits (Details Textual) $ in Millions	Mar. 31, 2013 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Maximum annual increase percentage to company contribution for retiree medical coverage	4.00%
Contribution to employee pension plan	$ 238
Contribution to other post retirement plans	51
Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan estimated future employer contributions in next fiscal year	1,000
Contribution to other post retirement plans	177
U.S. [Member]
Defined Benefit Plan Disclosure [Line Items]
Contribution to employee pension plan	196
U.S. [Member] \| Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan estimated future employer contributions in next fiscal year	650
International [Member] \| Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan estimated future employer contributions in next fiscal year	$ 350

Litigation (Details) - Pending Litigation [Member] $ in Millions		1 Months Ended		3 Months Ended
	Aug. 03, 2012 USD ($)	Sep. 30, 2010 USD ($)	Aug. 31, 2010	Mar. 31, 2013 USD ($) LegalMatter	Nov. 06, 2012	Jan. 03, 2012	Feb. 14, 2011 USD ($)	Dec. 31, 2008 USD ($)
MTBE [Member]
Loss Contingencies [Line Items]
Pending lawsuits and claims (in number of claims) \| LegalMatter				6
Ecuador [Member]
Loss Contingencies [Line Items]
Pending lawsuits and claims (in number of claims) \| LegalMatter				9
Conducted remediation program (in years)				3 years
Remediation program				$ 40
Financial compensation for purported damages on mining engineer's report								$ 18,900
Assessment for purported unjust enrichment on mining engineer's report								$ 8,400
Court order requiring the parties to provide their positions on damages within (in days)			45 days
Approximate damages on plaintiffs' submission, Minimum		$ 16,000
Approximate damages on plaintiffs' submission, Maximum		76,000
Approximate unjust enrichment on plaintiffs' submission, Minimum		5,000
Approximate unjust enrichment on plaintiffs' submission, Maximum		$ 38,000
Amount assessed in damages							$ 8,600
Amount assessed for plaintiffs representatives							900
Additional amount assessed in punitive damages							$ 8,600
Public apology date within judgment/clarification ruling (in days)							15 days
Proposed additional payment for plaintiff attorney fees as percentage of judgment						0.10%
Approved court-appointed liquadator's report damanges for total judgment	$ 19,100
Percentage of payments wIthheld by third parties due to freeze order					40.00%
Percentage of funds wIthheld by banks due to freeze order					40.00%
Ecuador [Member] \| Declatory Relief Claim [Member]
Loss Contingencies [Line Items]
Pending lawsuits and claims (in number of claims) \| LegalMatter				1
Ecuador [Member] \| Discovery Stay On Claims [Member]
Loss Contingencies [Line Items]
Pending lawsuits and claims (in number of claims) \| LegalMatter				8

Other Contingencies and Commitments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2013	Dec. 31, 2009
Commitments and Contingencies Disclosure [Abstract]
Indemnifications acquirer environmental liabilities max obligation		$ 200
Indemnification expiration	2022-04

Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2013	Dec. 31, 2012
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivatives	$ 64
Fair Value, Measurements, Recurring [Member]
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable Securities	266	$ 266
Derivatives	64	86
Total Assets at Fair Value	330	352
Derivatives	110	149
Total Liabilities at Fair Value	110	149
Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable Securities	266	266
Derivatives	2	21
Total Assets at Fair Value	268	287
Derivatives	106	148
Total Liabilities at Fair Value	106	148
Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable Securities	0	0
Derivatives	62	65
Total Assets at Fair Value	62	65
Derivatives	4	1
Total Liabilities at Fair Value	4	1
Level 3 [Member] \| Fair Value, Measurements, Recurring [Member]
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Marketable Securities	0	0
Derivatives	0	0
Total Assets at Fair Value	0	0
Derivatives	0	0
Total Liabilities at Fair Value	$ 0	$ 0

Fair Value Measurements (Details 1) - Fair Value, Measurements, Nonrecurring [Member] $ in Millions	3 Months Ended
	Mar. 31, 2013 USD ($)
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Properties, plant and equipment, net (held and used)	$ 0
Properties, plant and equipment, net (held for sale)	104
Investments and advances	0
Total Assets at Fair Value	104
Properties, plant and equipment, net (held and used) Before-Tax Loss	4
Properties, plant and equipment, net (held for sale) Before-Tax Loss	78
Investments and advances Before Tax Loss	0
Total Assets at Fair Value Before-Tax Loss	82
Level 1 [Member]
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Properties, plant and equipment, net (held and used)	0
Properties, plant and equipment, net (held for sale)	0
Investments and advances	0
Total Assets at Fair Value	0
Level 2 [Member]
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Properties, plant and equipment, net (held and used)	0
Properties, plant and equipment, net (held for sale)	0
Investments and advances	0
Total Assets at Fair Value	0
Level 3 [Member]
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Properties, plant and equipment, net (held and used)	0
Properties, plant and equipment, net (held for sale)	104
Investments and advances	0
Total Assets at Fair Value	$ 104

Fair Value Measurements (Details Textual) - USD ($) $ in Billions	3 Months Ended
	Mar. 31, 2013	Dec. 31, 2012
Fair Value Disclosures [Abstract]
Maturity period of primarily bank time deposits, maximum, classified as cash equivalents and money market funds (in days)	90 days
Cash and cash equivalents	$ 17.4	$ 20.9
Maturity period of bank time deposits, minimum, classified as time deposits (in days)	90 days
Time deposits	$ 1.4	0.7
Restricted cash	$ 1.1	$ 1.5

This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Company may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months.