Chevron 2010 Annual Report Download - page 8

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Financial Information
6 Chevron Corporation 2010 Supplement to the Annual Report
0.0
27.0
36.0
18.0
9.0
Cash From Operating Activities
Compared With Capital
Expenditures & Dividends
Billions of dollars
Dividends
Capital Expenditures
Cash From Operating Activities
0706 08 09 10
$31.4
$25.4
Consolidated Statement of Cash Flows Year ended December 31
Millions of dollars 2010 2009 2008 2007 2006
Operating Activities
Net income $ 19,136 $ 10,563 $ 24,031 $ 18,795 $ 17,208
Adjustments
Depreciation, depletion and amortization 13,063 12,110 9,528 8,708 7,506
Dry hole expense 496 552 375 507 520
Distributions less than income from equity affiliates (501 ) (103 ) (440 ) (1,439 ) (979 )
Net before-tax gains on asset retirements and sales (1,004 ) (1,255 ) (1,358 ) (2,315 ) (229 )
Net foreign currency effects 251 466 (355 ) 378 259
Deferred income tax provision 559 467 598 261 614
Net decrease (increase) in operating working capital
composed of:
(Increase) decrease in accounts and notes receivable (2,767 ) (1,476 ) 6,030 (3,867 ) 17
Decrease (increase) in inventories 15 1,213 (1,545 ) (749 ) (536 )
Increase in prepaid expenses and other
current assets (542 ) (264 ) (621 ) (370 ) (31 )
Increase (decrease) in accounts payable and
accrued liabilities 3,049 (1,121 ) (4,628 ) 4,930 1,246
Increase (decrease) in income and other taxes payable 321 (653 ) (909 ) 741 348
Net decrease (increase) in operating working capital 76 (2,301 ) (1,673 ) 685 1,044
Increase in long-term receivables (12 ) (258 ) (161 ) (82 ) (900 )
Decrease (increase) in other deferred charges 48 201 (84 ) (530 ) 232
Cash contributions to employee pension plans (1,450 ) (1,739 ) (839 ) (317 ) (449 )
Other
697 670 10 326 (503 )
Net Cash Provided by Operating Activities 31,359 19,373 29,632 24,977 24,323
Investing Activities
Capital expenditures (19,612 ) (19,843 ) (19,666 ) (16,678 ) (13,813 )
Repayment of loans by equity affiliates 338 336 179 21 463
Proceeds from asset sales 1,995 2,564 1,491 3,338 989
Time deposits purchased (5,060 ) – – – –
Time deposits matured 2,205 – – – –
Net purchases of time deposits (2,855 ) – – – –
Marketable securities purchased (90 ) (30 ) (3,236 ) (1,975 ) (1,271 )
Marketable securities sold 41 157 3,719 2,160 1,413
Net (purchases) sales of marketable securities (49 ) 127 483 185 142
Net (purchases) sales of other short-term investments (732 ) 244 432 (799 ) –
Net Cash Used for Investing Activities (20,915 ) (16,572 ) (17,081 ) (13,933 ) (12,219 )
Financing Activities
Net (payments) borrowings of short-term obligations (212 ) (3,192 ) 2,647 (345 ) (677 )
Proceeds from issuances of long-term debt 1,250 5,347 – 650 –
Repayments of long-term debt and other financing obligations (156 ) (496 ) (965 ) (3,343 ) (2,224 )
Net (purchases) sales of treasury shares (306 ) 168 (6,821 ) (6,389 ) (4,491 )
Cash dividends – common stock (5,674 ) (5,302 ) (5,162 ) (4,791 ) (4,396 )
Distributions to noncontrolling interests (72 ) (71 ) (99 ) (77 ) (60 )
Net Cash Used for Financing Activities (5,170 ) (3,546 ) (10,400 ) (14,295 ) (11,848 )
Effect of Exchange Rate Changes on Cash and Cash Equivalents 70 114 (166 ) 120 194
Net Change in Cash and Cash Equivalents 5,344 (631 ) 1,985 (3,131 ) 450
Cash and cash equivalents at January 1 8,716 9,347 7,362 10,493 10,043
Cash and Cash Equivalents at December 31 $ 14,060 $ 8,716 $ 9,347 $ 7,362 $ 10,493