
	Upstream				Downstream				Segment Total		All Other		Total
Three months ended June 30, 2026	U.S.		Int’l.		U.S.		Int’l.
Sales and other operating revenues before elimination	$	15,969	$	18,523	$	28,503	$	25,623	$	88,618	$	161	$	88,779
Intersegment revenue elimination	(10,309)		(6,655)		(3,780)		(700)		(21,444)		(136)		(21,580)
Sales and Other Operating Revenues	5,660		11,868		24,723		24,923		67,174		25		67,199

Income (loss) from equity affiliates	(33)		1,303		456		399		2,125		—		2,125
Other income (loss)(1)	(20)		364		19		247		610		121		731
Total Revenues and Other Income	5,607		13,535		25,198		25,569		69,909		146		70,055

Intersegment product transfers(2)	9,017		3,111		(10,355)		(2,023)		(250)		250		—
Less expenses:
Purchased crude oil and products	4,359		4,990		9,161		18,097		36,607		—		36,607
Operating and SG&A expenses	2,050		1,417		2,270		2,006		7,743		1,118		8,861
Depreciation, depletion and amortization	3,076		2,581		259		75		5,991		91		6,082
Other costs and deductions(3)	494		362		123		456		1,435		386		1,821
Total Costs and Other Deductions	9,979		9,350		11,813		20,634		51,776		1,595		53,371

Income Tax Expense (Benefit)	1,041		2,653		619		378		4,691		(221)		4,470
Less: Net income (loss) attributable to non-controlling interests	63		2		—		77		142		—		142
Net Income (Loss) Attributable to Chevron Corporation	$	3,541	$	4,641	$	2,411	$	2,457	$	13,050	$	(978)	$	12,072
Values have been adjusted for eliminations, unless otherwise specified.
(1) Includes interest income of $71 in “All Other.”
(2) Valuation of product transfers between operating segments.
(3) Includes interest expense of $318 in “All Other.”


	Upstream				Downstream				Segment Total		All Other		Total
Three months ended June 30, 2025	U.S.		Int’l.		U.S.		Int’l.
Sales and other operating revenues before elimination	$	10,385	$	9,182	$	18,708	$	18,274	$	56,549	$	149	$	56,698
Intersegment revenue elimination	(6,321)		(2,178)		(1,901)		(1,804)		(12,204)		(119)		(12,323)
Sales and Other Operating Revenues	4,064		7,004		16,807		16,470		44,345		30		44,375

Income (loss) from equity affiliates	(13)		438		55		55		535		1		536
Other income (loss)(1)	258		(145)		28		(23)		118		(207)		(89)
Total Revenues and Other Income	4,309		7,297		16,890		16,502		44,998		(176)		44,822

Intersegment product transfers(2)	5,415		782		(6,071)		(134)		(8)		8		—
Less expenses:
Purchased crude oil and products	3,284		2,173		7,787		13,614		26,858		—		26,858
Operating and SG&A expenses	2,082		1,300		2,137		1,506		7,025		621		7,646
Depreciation, depletion and amortization	2,142		1,824		243		75		4,284		60		4,344
Other costs and deductions(3)	362		363		178		619		1,522		305		1,827
Total Costs and Other Deductions	7,870		5,660		10,345		15,814		39,689		986		40,675

Income Tax Expense (Benefit)	431		1,107		70		204		1,812		(180)		1,632
Less: Net income (loss) attributable to non-controlling interests	5		3		—		17		25		—		25
Net Income (Loss) Attributable to Chevron Corporation	$	1,418	$	1,309	$	404	$	333	$	3,464	$	(974)	$	2,490
Values have been adjusted for eliminations, unless otherwise specified.
(1) Includes interest income of $63 in “All Other.”
(2) Valuation of product transfers between operating segments.
(3) Includes interest expense of $250 in “All Other.”


	Upstream				Downstream				Segment Total		All Other		Total
Six Months Ended June 30, 2026	U.S.		Int'l.		U.S.		Int'l.
Sales and other operating revenues before elimination	$	28,811	$	30,536	$	47,304	$	44,116	$	150,767	$	277	$	151,044
Intersegment revenue elimination	(17,064)		(11,576)		(6,168)		(1,243)		(36,051)		(238)		(36,289)
Sales and Other Operating Revenues	11,747		18,960		41,136		42,873		114,716		39		114,755

Income (loss) from equity affiliates	(39)		1,911		608		390		2,870		—		2,870
Other income (loss)(1)	19		504		30		248		801		236		1,037
Total Revenues and Other Income	11,727		21,375		41,774		43,511		118,387		275		118,662

Intersegment product transfers(2)	15,263		5,798		(17,238)		(3,958)		(135)		135		—
Less expenses:
Purchased crude oil and products	8,103		8,162		15,656		32,951		64,872		—		64,872
Operating and SG&A expenses	4,518		2,844		4,848		3,706		15,916		1,669		17,585
Depreciation, depletion and amortization	5,963		5,105		517		148		11,733		157		11,890
Other costs and deductions(3)	956		671		277		958		2,862		823		3,685
Total Costs and Other Deductions	19,540		16,782		21,298		37,763		95,383		2,649		98,032

Income Tax Expense (Benefit)	1,687		3,950		631		234		6,502		(379)		6,123
Less: Net income (loss) attributable to non-controlling interests	110		3		—		112		225		—		225
Net Income (Loss) Attributable to Chevron Corporation	$	5,653	$	6,438	$	2,607	$	1,444	$	16,142	$	(1,860)	$	14,282
Values have been adjusted for eliminations, unless otherwise specified.
(1) Includes interest income of $121 in “All Other.”
(2) Valuation of product transfers between operating segments.
(3) Includes interest expense of $628 in “All Other.”


	Upstream				Downstream				Segment Total		All Other		Total
Six Months Ended June 30, 2025	U.S.		Int’l.		U.S.		Int’l.
Sales and other operating revenues before elimination	$	21,900	$	19,153	$	37,413	$	35,540	$	114,006	$	269	$	114,275
Intersegment revenue elimination	(13,433)		(4,131)		(3,789)		(2,226)		(23,579)		(220)		(23,799)
Sales and Other Operating Revenues	8,467		15,022		33,624		33,314		90,427		49		90,476

Income (loss) from equity affiliates	(21)		1,152		205		27		1,363		(7)		1,356
Other income (loss)(1)	284		75		77		(16)		420		180		600
Total Revenues and Other Income	8,730		16,249		33,906		33,325		92,210		222		92,432

Intersegment product transfers(2)	11,876		1,151		(13,049)		(71)		(93)		93		—
Less expenses:
Purchased crude oil and products	7,193		4,975		15,049		28,251		55,468		—		55,468
Operating and SG&A expenses	4,205		2,557		4,392		2,770		13,924		1,362		15,286
Depreciation, depletion and amortization	4,165		3,521		485		149		8,320		147		8,467
Other costs and deductions(3)	748		620		349		1,181		2,898		583		3,481
Total Costs and Other Deductions	16,311		11,673		20,275		32,351		80,610		2,092		82,702

Income Tax Expense (Benefit)	1,009		2,513		75		326		3,923		(220)		3,703
Less: Net income (loss) attributable to non-controlling interests	10		5		—		22		37		—		37
Net Income (Loss) Attributable to Chevron Corporation	$	3,276	$	3,209	$	507	$	555	$	7,547	$	(1,557)	$	5,990
Values have been adjusted for eliminations, unless otherwise specified.
(1) Includes interest income of $132 in “All Other.”
(2) Valuation of product transfers between operating segments.
(3) Includes interest expense of $442 in “All Other.”