• Financial Highlights
• Management's Discussion and Analysis
• Consolidated Financial Statements
• Notes to the Consolidated Financial Statements
  • Note 1. Summary of Significant Accounting Policies
  • Note 2. Acquisition of Unocal Corporation
  • Note 3. Information Relating to the Consolidated Statement of Cash Flows
  • Note 4. Summarized Financial Data – Chevron U.S.A. Inc.
  • Note 5. Summarized Financial Data – Chevron Transport Corporation Ltd.
  • Note 6. Stockholders’ Equity
  • Note 7. Financial and Derivative Instruments
  • Note 8. Operating Segments and Geographic Data
  • Note 9. Lease Commitments
  • Note 10. Restructuring and Reorganization Costs
  • Note 11. Investments and Advances
  • Note 12. Properties, Plant and Equipment
  • Note 13. Accounting for Buy/Sell Contracts
  • Note 14. Litigation
  • Note 15. Taxes
  • Note 16. Short-Term Debt
  • Note 17. Long-Term Debt
  • Note 18. New Accounting Standards
  • Note 19. Accounting for Suspended Exploratory Wells
  • Note 20. Employee Benefit Plans
  • Note 21. Stock Options and Other Share-Based Compensation
  • Note 22. Other Contingencies and Commitments
  • Note 23. Asset Retirement Obligations
  • Note 24. Other Financial Information
  • Note 25. Earnings Per Share
• Five-Year Operating Summary
• Five-Year Financial Summary
• Supplemental Information on Oil and Gas Producing Activities

Note 2. Acquisition of Unocal Corporation

Millions of dollars, except per-share amounts

In August 2005, the company acquired Unocal Corporation (Unocal), an independent oil and gas exploration and production company. The aggregate purchase price of Unocal was $17,288. The final purchase-price allocation to the assets and liabilities acquired was completed as of June 30, 2006.

The following unaudited pro forma summary presents the results of operations as if the acquisition of Unocal had occurred at the beginning of 2005:

	Year ended December 31
	2005
Sales and other operating revenues	$ 198,762
Net income	14,967
Net income per share of common stock
Basic	$ 6.68
Diluted	$ 6.64

The pro forma summary used estimates and assumptions based on information available at the time. Management believes the estimates and assumptions to be reasonable; however, actual results may have differed significantly from this pro forma financial information.