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4 Chevron Corporation 2013 Annual Report
Millions of dollars, except per-share amounts 2013 2012 % Change
Net income attributable to Chevron Corporation $ 21,423 $ 26,179 (18.2) %
Sales and other operating revenues $ 220,156 $ 230,590 (4.5) %
Noncontrolling interests income $ 174 $ 157 10.8 %
Interest expense (after tax) $ — $ — 0.0 %
Capital and exploratory expenditures* $ 41,877 $ 34,229 22.3 %
Total assets at year-end $ 253,753 $ 232,982 8.9 %
Total debt and capital lease obligations at year-end $ 20,431 $ 12,192 67.6 %
Noncontrolling interests $ 1,314 $ 1,308 0.5 %
Chevron Corporation stockholders’ equity at year-end $ 149,113 $ 136,524 9.2 %
Cash provided by operating activities $ 35,002 $ 38,812 (9.8) %
Common shares outstanding at year-end (Thousands) 1,899,435 1,932,530 (1.7) %
Per-share data
Net income attributable to Chevron Corporation — diluted $ 11.09 $ 13.32 (16.7) %
Cash dividends $ 3.90 $ 3.51 11.1 %
Chevron Corporation stockholders’ equity $ 78.50 $ 70.65 11.1 %
Common stock price at year-end $ 124.91 $ 108.14 15.5 %
Total debt to total debt-plus-equity ratio 12.1% 8.2%
Return on average Chevron Corporation stockholders’ equity 15.0% 20.3%
Return on capital employed (ROCE) 13.5% 18.7%
Chevron Financial Highlights
*Includes equity in affiliates
0.0
30.0
20.0
15.0
5.0
10.0
25.0
Net Income Attributable
to Chevron Corporation
Billions of dollars
The decrease in 2013 was due to
lower earnings in upstream and
downstream as a result of lower
gains on asset sales, higher
operating expenses, lower
margins on refined product
sales, and lower crude oil
production.
09 11 12 13
$21.4
10
0.00
4.25
3.40
2.55
0.85
1.70
Annual Cash Dividends
Dollars per share
The company’s annual dividend
increased for the 26th consecutive
year.
10
09 11 12 13
$3.90
0
150
120
90
60
30
Chevron Year-End
Common Stock Price
Dollars per share
The company’s stock price rose
15.5 percent in 2013.
1009 11 12 13
$124.91
0
30
24
18
12
6
Return on Capital Employed
Percent
Chevron’s return on capital
employed declined to 13.5 percent
on lower earnings and higher
capital employed.
1009 11 12 13
13.5%