Chevron Corporation has filed its annual report on Form 11-K for the fiscal year ended December 31, 2023, with the United States Securities and Exchange Commission. The report includes audited financial statements for the Chevron Employee Savings Investment Plan (ESIP), which presents the net assets available for benefits and the changes in net assets for the year. The report, audited by independent registered public accounting firm Grant Thornton LLP, states that the financial statements fairly present, in all material respects, the net assets of the ESIP and the changes therein in accordance with U.S. generally accepted accounting principles. The ESIP is a defined contribution plan that includes a leveraged Employee Stock Ownership Plan (ESOP) and offers a variety of investment options...Show More

Chevron Corporation has filed its annual report on Form 11-K for the fiscal year ended December 31, 2023, with the United States Securities and Exchange Commission. The report includes audited financial statements for the Chevron Employee Savings Investment Plan (ESIP), which presents the net assets available for benefits and the changes in net assets for the year. The report, audited by independent registered public accounting firm Grant Thornton LLP, states that the financial statements fairly present, in all material respects, the net assets of the ESIP and the changes therein in accordance with U.S. generally accepted accounting principles. The ESIP is a defined contribution plan that includes a leveraged Employee Stock Ownership Plan (ESOP) and offers a variety of investment options to participants. The Plan's assets increased from $18,609,898,000 in 2022 to $18,940,368,000 in 2023. The Plan allows for employer and participant contributions, with the company matching certain contributions. Participants are fully vested in their contributions and can take loans against their accounts under certain conditions. The Plan also underwent mergers with the retirement plans of Magnum Development LLC and American Natural Gas LLC for Beyond6, LLC, with assets transferred into the ESIP. The Plan is expected to continue indefinitely, but Chevron Corporation retains the authority to amend or terminate the Plan.