Stock Analysis on Net

Chevron Corp. (NYSE:CVX)

$24.99

Analysis of Property, Plant and Equipment

Microsoft Excel

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Property, Plant and Equipment Disclosure

Chevron Corp., balance sheet: property, plant and equipment

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
United States
International
Upstream
United States
International
Downstream
United States
International
All other
Properties, plant and equipment, at cost
Accumulated depreciation, depletion and amortization
Properties, plant and equipment, net

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Item Description The company
Properties, plant and equipment, at cost Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Chevron Corp. properties, plant and equipment, at cost increased from 2022 to 2023 but then slightly decreased from 2023 to 2024.
Properties, plant and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Chevron Corp. properties, plant and equipment, net increased from 2022 to 2023 but then slightly decreased from 2023 to 2024 not reaching 2022 level.

Asset Age Ratios (Summary)

Chevron Corp., asset age ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Average age ratio
Estimated total useful life (years)
Estimated age, time elapsed since purchase (years)
Estimated remaining life (years)

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Chevron Corp. average age ratio of depreciable property, plant and equipment improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. Chevron Corp. estimated total useful life of depreciable property, plant and equipment decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. Chevron Corp. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.
Estimated remaining life Chevron Corp. estimated remaining life of depreciable property, plant and equipment increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

Average Age

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Accumulated depreciation, depletion and amortization
Properties, plant and equipment, at cost
Asset Age Ratio
Average age1

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 Average age = 100 × Accumulated depreciation, depletion and amortization ÷ Properties, plant and equipment, at cost
= 100 × ÷ =

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Chevron Corp. average age ratio of depreciable property, plant and equipment improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Estimated Total Useful Life

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Properties, plant and equipment, at cost
Depreciation expense
Asset Age Ratio (Years)
Estimated total useful life1

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 Estimated total useful life = Properties, plant and equipment, at cost ÷ Depreciation expense
= ÷ =

Asset age ratio Description The company
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. Chevron Corp. estimated total useful life of depreciable property, plant and equipment decreased from 2022 to 2023 but then slightly increased from 2023 to 2024.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Accumulated depreciation, depletion and amortization
Depreciation expense
Asset Age Ratio (Years)
Time elapsed since purchase1

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 Time elapsed since purchase = Accumulated depreciation, depletion and amortization ÷ Depreciation expense
= ÷ =

Asset age ratio Description The company
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. Chevron Corp. estimated time elapsed since purchase of depreciable property, plant and equipment improved from 2022 to 2023 but then deteriorated significantly from 2023 to 2024.

Estimated Remaining Life

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Properties, plant and equipment, net
Depreciation expense
Asset Age Ratio (Years)
Estimated remaining life1

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 Estimated remaining life = Properties, plant and equipment, net ÷ Depreciation expense
= ÷ =

Asset age ratio Description The company
Estimated remaining life Chevron Corp. estimated remaining life of depreciable property, plant and equipment increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.