Chevron 2006 Annual Report Download - page 93

Download and view the complete annual report

Please find page 93 of the 2006 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 108

  • 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
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

CHEVRON CORPORATION 2006 ANNUAL REPORT 91
Consolidated Companies
United States
International
Gu l f of Total A sia- Total Affi liated Companies
Millions of dollars Calif. Mexico Other U.S. Africa Pacifi c Indonesia Other Int’l. Total TCO Other
YEAR ENDED DEC. 31, 2004
Revenues from net
production
Sales $ 251 $ 1,925 $ 2,163 $ 4,339 $ 1,321 $ 1,191 $ 256 $ 2,481 $ 5,249 $ 9,588 $ 1,619 $ 205
Transfers 2,651 1,768 1,224 5,643 2,645 2,265 1,613 1,903 8,426 14,069 – –
Total 2,902 3,693 3,387 9,982 3,966 3,456 1,869 4,384 13,675 23,657 1,619 205
Production expenses
excluding taxes (710) (547) (697) (1,954) (574) (431) (591) (544) (2,140) (4,094) (143) (53)
Taxes other than on
income (57) (45) (321) (423) (24) (138) (1) (134) (297) (720) (26) –
Proved producing properties:
Depreciation and depletion (232) (774) (384) (1,390) (367) (401) (393) (798) (1,959) (3,349) (104) (4)
Accretion expense2 (12) (25) (19) (56) (22) (8) (13) 11 (32) (88) (2) –
Exploration expenses – (227) (6) (233) (235) (69) (17) (144) (465) (698) – –
Unproved properties
valuation (3) (29) (4) (36) (23) (8) – (25) (56) (92) – –
Other income (expense)3 14 24 474 512 49 10 12 1,028 1,099 1,611 (7) (58)
Results before
income taxes 1,902 2,070 2,430 6,402 2,770 2,411 866 3,778 9,825 16,227 1,337 90
Income tax expense (703) (765) (898) (2,366) (2,036) (1,395) (371) (1,759) (5,561) (7,927) (401) –
RESULTS OF PRODUCING
OPERATIONS $ 1,199 $ 1,305 $ 1,532 $ 4,036 $ 734 $ 1,016 $ 495 $ 2,019 $ 4,264 $ 8,300 $ 936 $ 90
1 The value of owned production consumed in operations as fuel has been eliminated from revenues and production expenses, and the related volumes have been deducted from net production in
calculating the unit average sales price and production cost. This has no effect on the results of producing operations.
2 Represents accretion of ARO liability. Refer to Note 24, “Asset Retirement Obligations,” on page 82.
3 Includes foreign currency gains and losses, gains and losses on property dispositions, and income from operating and technical service agreements.
TABLE III – RESULTS OF OPERATIONS FOR OIL AND
GAS PRODUCING ACTIVITIES1 – Continued