Chevron 2004 Annual Report Download - page 6
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44
Millionsofdollars,exceptper-shareamounts 2003 % Change
Net income1 $ 7,230 84 %
Sales and other operating revenues1 $ 120,032 26 %
Capital and exploratory expenditures2 $ 7,363 13 %
Total assets at year-end $ 81,470 14 %
Total debt at year-end $ 12,597 (11)%
Stockholders’ equity at year-end $ 36,295 25 %
Cash provided by operating activities $ 12,315 19 %
Common shares outstanding at year-end3(Thousands) 2,138,295 (1) %
Per-share data3
Net income – diluted1,4 $ 3.48 81 %
Cash dividends $ 1.43 7 %
Stockholders’ equity $ 16.97 27 %
Common stock price at year-end $ 43.19 22 %
Total debt to total debt-plus-equity ratio 25.8%
Return on average stockholders’ equity 21.3%
Return on capital employed (ROCE) 15.7%
1 Includes discontinued operations
2 Includes equity in affi liates
3 2003 adjusted for stock split in 2004
4 2003 includes $0.08 for a capital stock transaction as described
in Note 26 to the Consolidated Financial Statements
CHEVRONTEXACO FINANCIAL HIGHLIGHTS
0.0
160.0
120.0
80.0
40.0
0100 02 03
Billions of dollars
Salesandotheroperatingrevenues
increased26percentonhigherprices
forcrudeoil,naturalgasandrefined
products.
�Includesdiscontinuedoperations
Chemicals & Other
Crude Oil & Condensate, Natural
Gas & Natural Gas Liquids
Petroleum Products
0.0
12.0
10.0
8.0
6.0
4.0
2.0
0100 02 03
Billions of dollars
Capitalandexploratoryexpendi-
turesincreasedabout13percent
fromthe2003level.Years2000
through2002werehigherdueto
additionalinvestmentsinequity
affiliatesTengizchevroiland
DynegyInc.
�Includesequityinaffiliates
Chemicals & Other
Refining, Marketing & Transportation
Exploration & Production
0.0
15.0
12.0
9.0
6.0
3.0
0100 02 03
Billions of dollars
Higherearningshelpedboostthe
company’soperatingcashflowby
19percent.
0.0
15.0
12.0
9.0
3.0
6.0
0100 02 03
Billions of dollars
Netincomerosesharplyonthe
strengthofupstreamoperations
andmuch-improvedresultsfrom
thedownstreambusinessesin2004.
Special-itemchargesin2002reduced
earningsmorethan$3billion.