Chevron 2004 Annual Report Download - page 63

Download and view the complete annual report

Please find page 63 of the 2004 Chevron annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 98

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98

CHEVRONTEXACO CORPORATION 2004 ANNUAL REPORT 61
Segment฀Assets฀ Segment฀assets฀do฀not฀include฀intercompany฀
investments฀or฀intercompany฀receivables.฀Segment฀assets฀at฀
year-end฀2004฀and฀2003฀follow:
At December 31
 2003

United States  $ 12,501
International  28,520
  41,021

 
United States  9,354
International  17,627
  26,981

United States  2,165
International  662
  2,827
  70,829

United States  6,644
International  3,997
  10,641
   30,664
   50,806
  $ 81,470
* All Other assets consist primarily of worldwide cash, cash equivalents and mar-
ketable securities, real estate, information systems, the company’s investment in
Dynegy, coal mining operations, power generation businesses, technology com-
panies, and assets of the corporate administrative functions.
Segment฀Sales฀and฀Other฀Operating฀Revenues฀ Operating฀segment฀
sales฀and฀other฀operating฀revenues,฀including฀internal฀transfers,฀
for฀the฀years฀2004,฀2003฀and฀2002฀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฀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,฀kero-
sene,฀lubricants,฀residual฀fuel฀oils฀and฀other฀products฀derived฀
from฀crude฀oil.฀This฀segment฀also฀generates฀revenues฀from฀the฀
transportation฀and฀trading฀of฀crude฀oil฀and฀refined฀products.฀
Revenues฀for฀the฀chemicals฀segment฀are฀derived฀primarily฀from฀the฀
manufacture฀and฀sale฀of฀additives฀for฀lubricants฀and฀fuel.฀“All฀
Other”฀activities฀include฀revenues฀from฀coal฀mining฀operations,฀
power฀generation฀businesses,฀insurance฀operations,฀real฀estate฀
activities฀and฀technology฀companies.
Other฀than฀the฀United฀States,฀the฀only฀country฀where฀Chevron-
Texaco฀generates฀significant฀revenues฀is฀the฀United฀Kingdom,฀
where฀revenues฀amounted฀to฀$13,985,฀$12,121฀and฀$10,816฀in฀
2004,฀2003฀and฀2002,฀respectively.
Year ended December 31
2003 2002

 
United States   $ 6,842 $ 4,923
Intersegment  6,295 4,217
Total United States  13,137 9,140
International  7,013 5,360
Intersegment  8,142 8,301
Total International  15,155 13,661
  28,292 22,801

 
United States   44,701 33,881
Excise taxes  3,744 3,990
Intersegment  225 163
Total United States  48,670 38,034
International  52,486 45,759
Excise taxes  3,342 3,006
Intersegment  46 38
Total International  55,874 48,803

   104,544 86,837

United States  323 323
Intersegment  129 109
Total United States  452 432
International  677 638
Excise taxes  9 10
Intersegment  83 68
Total International  769 716
  1,221 1,148

United States  338 413
Intersegment  121 105
Total United States  459 518
International  100 37
Intersegment  4 –
Total International  104 37
  563 555


United States  62,718 48,124
International  71,902 63,217

  134,620 111,341
Elimination of intersegment sales  (15,045) (13,001)

    $ 119,575 $ 98,340
 OPERATING SEGMENTS AND GEOGRAPHIC DATA – Continued