| Millions of dollars, except per-share amounts | 2005 | 2004 | Change % |
|---|---|---|---|
| Net income | $14,099 | $13,328 | 6% |
| Sales and other operating revenues | $193,641 | $150,865 | 28% |
| Capital and exploratory expenditures* | $11,063 | $8,315 | 33% |
| Total assets at year-end | $125,833 | $93,208 | 35% |
| Total debt at year-end | $12,870 | $11,272 | 14% |
| Stockholders' equity at year-end | $62,676 | $45,230 | 39% |
| Cash provided by operating activities | $20,105 | $14,690 | 37% |
| Common shares outstanding at year-end (Thousands) | 2,218,519 | 2,092,952 | 6% |
| Per-share data | |||
| Net income – diluted | $6.54 | $6.28 | 4% |
| Cash dividends | $1.75 | $1.53 | 14% |
| Stockholders' equity | $28.25 | $21.61 | 31% |
| Common stock price at year-end | $56.77 | $52.51 | 8% |
| Total debt to total debt-plus-equity ratio | 17.0% | 19.9% | |
| Return on average stockholders' equity | 26.1% | 32.7% | |
| Return on capital employed (ROCE) | 21.9% | 25.8% |
*Includes equity in affiliates
NET INCOME*
Billions of dollars
Net income rose on the continued strength of upstream operations. Special-item charges in 2002 reduced earnings more than $3 billion.
*Includes discontinued operations
SALES & OTHER OPERATING REVENUES
Billions of dollars
- Chemicals & Other
- Crude Oil & Condensate, Natural Gas & Natural Gas Liquids
- Petroleum Products
Sales and other operating revenues increased 28 percent on higher prices for crude oil, natural gas and refined products, and the inclusion of Unocal for five months post-acquisition.
CAPITAL & EXPLORATORY EXPENDITURES*
Billions of dollars
- Chemicals & Other
- Refining, Marketing & Transportation
- Exploring & Production
Capital and exploratory expenditures increased 33 percent from 2004. Years 2001 and 2002 were higher due to additional investments in equity affiliates Tengizchevroil and Dynegy Inc.
*Includes equity in affiliates but excludes cost of Unocal acquisition
CASH PROVIDED BY OPERATING ACTIVITIES
Billions of dollars
Operating cash flow increased 37 percent mainly due to higher earnings in the upstream segment.