Consolidated Balance Sheet - USD (S) $ in Millions Dec. 31, 2018 Dec. 31, 2017 Assets Cash and cash equivalents $4,813 $9,342 Time deposits 950 C Marketable securities 53 Accounts and notes receivable (less allowance: 2018 $869; 2017 $490) 15,353 15,050 Inventories: Crude oil and petroleum products 3,383 3,142 Chemicals 487 476 Materials, supplies and other 1,834 1,967 Total inventories 5,704 5,585 Prepaid expenses and other current 2,922 2,800 assets Total Current Assets 34,021 28,560 Long-term receivables, net 1,942 2,849 Investments and advances 35,546 32,497 Properties, plant and equipment, at cost 340,244 344,485 Less: Accumulated depreciation, depletion and amortization 171,037 166,773 Properties, plant and equipment, net 169,207 177,712 Deferred charges and other assets 6,766 7,017 Goodwill 4,518 4,531 Assets held for sale 1,863 640 Total Assets 253,806 253,863 Liabilities and Equity Short-term debt 5,726 5,192 Accounts payable 13,953 14,565 Accrued liabilities 4,927 5,267 Federal and other taxes on income 1,600 1,628 Other taxes payable 937 1,113 Total Current Liabilities 27,737 27,171 Long-term debt 1] 33,571 28,733 Deferred credits and other noncurrent 19,742 21,106 obligations Noncurrent deferred income taxes 15,921 14,652 Noncurrent employee benefit plans 7,421 6,654 Total Liabilities [2] 98,221 104,487 Preferred stock (authorized 100,000,000 shares; $1.00 par value; none issued) 0 0 Common stock (authorized 6,000,000,000 shares; $0.75 par value; 2,442,676,580 shares issued at December 31, 2018 and 2017) 1,832 1,832 16,848 Capital in excess of par value 17,112 Retained earnings 180,987 174,106 Accumulated other comprehensive (3,544) (3,589) losses Deferred compensation and benefit plan (240) (240) trust Treasury stock, at cost (2018 539,838,890 shares; 2017- 537,974,695) (41,593) (40,833) Total Chevron Corporation Stockholders' Equity 154,554 148,124 1,088 1,195 Noncontrolling interests Total Equity 155,642 149,319 Total Liabilities and Equity $253,863 $253,806 ] Includes capital lease obligations of $127 and $94 at December 31, 2018 and 2017, respectively 2 Refer to Note 23, "Other Contingencies and Commitments" beginning on page 86.

Consolidated Balance Sheet - USD (S) $ in Millions Dec. 31, 2018 Dec. 31, 2017 Assets Cash and cash equivalents $4,813 $9,342 Time deposits 950 C Marketable securities 53 Accounts and notes receivable (less allowance: 2018 $869; 2017 $490) 15,353 15,050 Inventories: Crude oil and petroleum products 3,383 3,142 Chemicals 487 476 Materials, supplies and other 1,834 1,967 Total inventories 5,704 5,585 Prepaid expenses and other current 2,922 2,800 assets Total Current Assets 34,021 28,560 Long-term receivables, net 1,942 2,849 Investments and advances 35,546 32,497 Properties, plant and equipment, at cost 340,244 344,485 Less: Accumulated depreciation, depletion and amortization 171,037 166,773 Properties, plant and equipment, net 169,207 177,712 Deferred charges and other assets 6,766 7,017 Goodwill 4,518 4,531 Assets held for sale 1,863 640 Total Assets 253,806 253,863 Liabilities and Equity Short-term debt 5,726 5,192 Accounts payable 13,953 14,565 Accrued liabilities 4,927 5,267 Federal and other taxes on income 1,600 1,628 Other taxes payable 937 1,113 Total Current Liabilities 27,737 27,171 Long-term debt 1] 33,571 28,733 Deferred credits and other noncurrent 19,742 21,106 obligations Noncurrent deferred income taxes 15,921 14,652 Noncurrent employee benefit plans 7,421 6,654 Total Liabilities [2] 98,221 104,487 Preferred stock (authorized 100,000,000 shares; $1.00 par value; none issued) 0 0 Common stock (authorized 6,000,000,000 shares; $0.75 par value; 2,442,676,580 shares issued at December 31, 2018 and 2017) 1,832 1,832 16,848 Capital in excess of par value 17,112 Retained earnings 180,987 174,106 Accumulated other comprehensive (3,544) (3,589) losses Deferred compensation and benefit plan (240) (240) trust Treasury stock, at cost (2018 539,838,890 shares; 2017- 537,974,695) (41,593) (40,833) Total Chevron Corporation Stockholders' Equity 154,554 148,124 1,088 1,195 Noncontrolling interests Total Equity 155,642 149,319 Total Liabilities and Equity $253,863 $253,806 ] Includes capital lease obligations of $127 and $94 at December 31, 2018 and 2017, respectively 2 Refer to Note 23, "Other Contingencies and Commitments" beginning on page 86.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 84.7C

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