Chevron 2013 Annual Report Download - page 41

Chevron Corporation 2013 Annual Report 39
e summarized nancial information for CUSA and its
consolidated subsidiaries is as follows:
Year ended December 31
2013 2012 2011
Sales and other operating
revenues $ 174,318 $ 183,215 $ 187,929
Total costs and other deductions 169,984 175,009 178,510
Net income attributable to CUSA 3,714 6,216 6,898
At December 31
2013 2012
Current assets $ 17,626 $ 18,983
Other assets 57,288 52,082
Current liabilities 17,486 18,161
Other liabilities 28,119 26,472
Total CUSA net equity $ 29,309 $ 26,432
Memo: Total debt $ 14,482 $ 14,482
Note 6
Summarized Financial Data — Chevron Transport Corporation Ltd.
Chevron Transport Corporation Ltd. (CTC), incorporated in
Bermuda, is an indirect, wholly owned subsidiary of Chevron
Corporation. CTC is the principal operator of Chevron’s inter-
national tanker eet and is engaged in the marine transportation
of crude oil and rened petroleum products. Most of CTC’s
shipping revenue is derived from providing transportation serv-
ices to other Chevron companies. Chevron Corporation has
fully and unconditionally guaranteed this subsidiary’s obliga-
tions in connection with certain debt securities issued by a third
party. Summarized nancial information for CTC and its
consolidated subsidiaries is as follows:
Year ended December 31
2013 2012 2011
Sales and other operating revenues $ 504 $ 606 $ 793
Total costs and other deductions 695 745 974
Net loss attributable to CTC (191) (135) (177)
At December 31
2013 2012
Current assets $ 221 $ 199
Other assets 549 313
Current liabilities 94 154
Other liabilities 911 415
Total CTC net decit $ (235) $ (57)
ere were no restrictions on CTC’s ability to pay divi-
dends or make loans or advances at December 31, 2013.
e major components of “Capital expenditures” and
the reconciliation of this amount to the reported capital and
exploratory expenditures, including equity affiliates, are
presented in the following table:
Year ended December 31
2013 2012 2011
Additions to properties, plant
and equipment* $ 36,550 $ 29,526 $ 25,440
Additions to investments 934 1,042 900
Current-year dry hole expenditures 594 475 332
Payments for other liabilities
and assets, net (93) (105) (172)
Capital expenditures 37,985 30,938 26,500
Expensed exploration expenditures 1,178 1,173 839
Assets acquired through capital
lease obligations and other
nancing obligations 16 1 32
Capital and exploratory expenditures,
excluding equity aliates 39,179 32,112 27,371
Company’s share of expenditures
by equity aliates 2,698 2,117 1,695
Capital and exploratory expenditures,
including equity aliates $ 41,877 $ 34,229 $29,066
*Excludes noncash additions of $1,661 in 2013, $4,569 in 2012 and $945 in 2011.
Note 5
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
the rening, marketing, 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.
During 2012, Chevron implemented legal reorganizations
in which certain Chevron subsidiaries transferred assets to
or under CUSA. e summarized nancial information
for CUSA and its consolidated subsidiaries presented in the
following table gives retroactive eect to the reorganizations
as if they had occurred on January 1, 2011. However, the
nancial information in the following table may not reect
the nancial position and operating results in the periods
presented if the reorganization had occurred on that date.
Note 4 Information Relating to the Consolidated Statement of Cash Flows – Continued