Chevron 2012 Annual Report Download - page 77

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Consolidated Companies Aliated Companies
Other
Millions of dollars U.S. Americas Africa Asia Australia Europe Total TCO Other
Year Ended December 31, 20104
Revenues from net production
Sales $ 2,540 $ 1,881 $ 2,278 $ 7,221 $ 994 $ 1,519 $ 16,433 $ 6,031 $ 1,307
Transfers 12,172 1,147 10,306 6,242 985 2,138 32,990 – –
Total 14,712 3,028 12,584 13,463 1,979 3,657 49,423 6,031 1,307
Production expenses excluding taxes (3,338) (805) (1,413) (2,996) (96) (534) (9,182) (347) (152)
Taxes other than on income (542) (102) (130) (85) (334) (2) (1,195) (360) (101)
Proved producing properties:
Depreciation and depletion (3,639) (907) (2,204) (2,816) (151) (681) (10,398) (432) (131)
Accretion expense2
(240) (23) (102) (35) (15) (53) (468) (8) (5)
Exploration expenses (193) (173) (242) (289) (175) (75) (1,147) (5) –
Unproved properties valuation (123) (71) (25) (33) – (2) (254) – –
Other income (expense)3 (154) (367) (103) (282) 109 165 (632) (65) 191
Results before income taxes 6,483 580 8,365 6,927 1,317 2,475 26,147 4,814 1,109
Income tax expense (2,273) (223) (4,535) (3,886) (325) (1,455) (12,697) (1,445) (615)
Results of Producing Operations $ 4,210 $ 357 $ 3,830 $ 3,041 $ 992 $ 1,020 $ 13,450 $ 3,369 $ 494
1 e 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. is has no eect on the results of producing operations.
2 Represents accretion of ARO liability. Refer to Note 23, “Asset Retirement Obligations,” on page 66.
3 Includes foreign currency gains and losses, gains and losses on property dispositions, and other miscellaneous income and expenses.
4 2011 and 2010 conformed to 2012 presentation.
Table III Results of Operations for Oil and
Gas Producing Activities1 – Continued
Chevron Corporation 2012 Annual Report 75