Item 2.02 Results of Operations and Financial Condition
On January 27, 2023, Chevron Corporation (the "Company") issued a news release
announcing unaudited fourth quarter 2022 earnings of $6.4 billion. The news
release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information included herein and in Exhibit 99.1 shall not be deemed "filed"
for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it
be deemed incorporated by reference in any filing under the Securities Act of
1933, as amended.
Item 8.01 Other Events
On January 25, 2023, the Board of Directors authorized the repurchase of the
Company's shares of common stock in an aggregate amount of $75 billion. The $75
billion authorization takes effect on April 1, 2023, and does not have a fixed
expiration date. It replaces the Board's previous repurchase authorization of
$25 billion from January 2019, which will terminate on March 31, 2023, after the
completion of the Company's repurchases in the first quarter 2023. Repurchases
of shares of the Company's common stock may be made from time to time in the
open market, by block purchases, in privately negotiated transactions or in such
other manner as determined by the Company. The timing of the repurchases and the
actual amount repurchased will depend on a variety of factors, including the
market price of the Company's shares, general market and economic conditions,
and other factors. The stock repurchase program does not obligate the Company to
acquire any particular amount of common stock, and it may be suspended or
discontinued at any time.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number Description
N ews release issued by Chevron Corporation, dated
99.1 January 27, 2023.
104 Cover Page Interactive Data File (contained in Exhibit 101)
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