Document
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
 
 
 
 
 
 
 
 
 
____________
 
 
 
 
 
 
 
 
 
FORM 11-K
____________
 
 
 
 
 
 
 
 
 
 
[X]
 
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
 
 
 
 
EXCHANGE ACT OF 1934
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the fiscal year ended December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
OR
 
 
 
 
 
 
 
 
 
 
[ ]
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
 
 
 
EXCHANGE ACT OF 1934
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
For the transition period from ________________ to __________________
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commission file number                                 001-00368
 
 
 
 
 
 
 
 
 
 
 
 
 
A.
  Full title of the plan and the address of the plan, if different from that of the issuer named below:
 
 
 
 
 
 
 
 
 
CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
 
 
 
 
 
 
 
 
 
 
B.
  Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Chevron Corporation
 
 
 
 
 
 
 
 
6001 Bollinger Canyon Road
 
 
 
 
 
 
 
 
San Ramon, CA 94583
 
 
 
 
 
 
 
 
       ____________
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 










PN:001




CHEVRON
EMPLOYEE SAVINGS INVESTMENT PLAN

FINANCIAL STATEMENTS
AND SUPPLEMENTAL SCHEDULE

TOGETHER WITH REPORT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM

DECEMBER 31, 2017 AND 2016
































CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN

    

TABLE OF CONTENTS





 
 
 
PAGE

Report of Independent Registered Public Accounting Firm
 
1 - 2

Financial Statements:
 
 
 
Statements of Net Assets Available for Benefits as of December 31, 2017 and 2016
 
3

 
Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2017
 
4

 
Notes to Financial Statements    
 
5 - 14

Supplemental Schedule:
 
 
 
 
 
 
 
Schedule H - Part IV, Line 4(i) - Schedule of Assets Held as of December 31, 2017
 
15 - 22

 
 
 
 


i


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


Plan Participants and Plan Administrator
Chevron Employee Savings Investment Plan:

Opinion on the Financial Statements

We have audited the accompanying statements of net assets available for benefits of the Chevron Employee Savings Investment Plan (the Plan) as of December 31, 2017 and 2016, and the related statement of changes in net assets available for benefits for the year ended December 31, 2017, and the related notes and supplemental schedule of assets held as of December 31, 2017 (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2017 and 2016, and the changes in net assets available for benefits for the year ended December 31, 2017, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.


- 1 -


Supplemental Information

The supplemental schedule of assets held as of December 31, 2017 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ Morris Davis Chan & Tan LLP

We have served as the Plan’s auditor since 2007.

Alameda, California
June 21, 2018


- 2 -


CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 2017 AND 2016
(thousands of dollars)
 
 
 
2017
 
2016
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments - at fair value:
 
 
 
 
 
 
Chevron Corporation common stock
$
7,953,209

 
$
8,516,499

 
Registered investment companies
 
5,023,427

 
 
4,456,960

 
Vanguard Brokerage Option
 
261,412

 
 
276,501

 
Collective investment funds
 
6,261,954

 
 
5,713,241

 
Separate Account
 
301,546

 
 
284,152

 
 
Total investments
 
19,801,548

 
 
19,247,353

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes receivable from participants
 
136,977

 
 
135,116

 
 
 
 
 
 
 
 
 
 
Total assets
 
19,938,525

 
 
19,382,469

 
 
 
 
 
 
 
 
Liabilities
 

 
 

 
 
 
 
 
 
 
 
Net assets available for benefits
$
19,938,525

 
$
19,382,469

The accompanying notes are an integral part of these financial statements.

- 3 -


CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEAR ENDED DECEMBER 31, 2017
(thousands of dollars)

Additions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Contributions:
 
 
 
 
 
 
 
 
 
Employer contributions
 
 
 
 
 
$
259,150

 
 
Participant contributions
 
 
 
 
 
 
327,786

 
 
Participant rollovers
 
 
 
 
 
 
218,758

 
 
 
Total contributions
 
 
 
 
 
 
805,694

 
 
 
 
 
 
 
 
 
 
 
 
Investment income
 
 
 
 
 
 
 
 
 
Net appreciation in fair value of investments
 
 
 
 
 
1,956,723

 
 
Dividends
 
 
 
 
 
 
482,332

 
 
Interest
 
 
 
 
 
 
11,030

 
 
 
Total investment increase
 
 
 
 
 
 
2,450,085

 
 
 
 
 
 
 
 
 
 
 
 
Interest on notes receivable from participants
 
 
 
 
 
3,831

 
 
 
 
 
 
 
 
 
 
 
 
Total additions
 
 
 
 
 
 
3,259,610

 
 
 
 
 
 
 
 
 
 
 
Deductions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Distribution to participants
 
 
 
 
 
 
2,698,409

 
Administrative fees
 
 
 
 
 
 
5,145

 
 
 
 
 
 
 
 
 
 
Total deductions
 
 
 
 
 
 
2,703,554

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net increase
 
 
 
 
 
 
556,056

 
 
 
 
 
 
 
 
 
 
 
Net assets available for benefits:
 
 
 
 
 
 
 
 
Beginning of year
 
 
 
 
 
 
19,382,469

 
 
 
 
 
 
 
 
 
 
 
 
End of year
 
 
 
 
 
$
19,938,525

The accompanying notes are an integral part of these financial statements.

- 4 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017 AND 2016


NOTE 1 - Description of the Plan

The following description of the Chevron Employee Savings Investment Plan (ESIP or the Plan), provides only general information. Participants should refer to the Plan document or Summary Plan Description for a more complete description of the Plan’s provisions.

The Plan is a defined contribution plan that is intended to be a qualified profit-sharing plan under section 401(a) of the Internal Revenue Code (the Code), a qualified cash or deferred arrangement under section 401(k) of the Code, and, effective December 1, 1989, to include a leveraged Employee Stock Ownership Plan (ESOP) qualified under section 4975(e)(7) of the Code.

Plan Sponsor/Administrator. Chevron Corporation (the Corporation) is the Plan Sponsor and the Plan Administrator of the ESIP. The Corporation has the authority to appoint one or more trustees to hold the assets of the Plan and to appoint a recordkeeper. In its capacity as fiduciary, the Corporation makes such rules, regulations and computations and takes whatever action is necessary to administer the Plan in accordance with provisions of the Code and the Employee Retirement Income Security Act of 1974 (ERISA), as amended.

Eligibility. Employees of the Corporation and each other participating company (Company) or employees who are represented by a labor organization that has bargained for and agreed to participation in the Plan are eligible to join the Plan if they are on the U.S. payroll.

Contributions. Participants may contribute up to 75 percent of regular pay as combined basic (1 or 2 percent) and supplemental (up to 73 percent) contributions. For 2017 and 2016, the maximum contribution amount on a before-tax and Roth 401(k) basis was the annual Code limit of $18,000, for participants under age 50 and $24,000 for participants age 50 and up. The Plan has a fixed match feature. The Company will match 4 percent of regular pay on the first 1 percent of the participant’s basic contribution to the Plan or 8 percent of regular pay on the first 2 percent of the participant’s basic contribution to the Plan. Both participant and Company match contributions to the Plan ceased when a participant reached regular pay of $270,000 for the year 2017.

The Company matching contribution is made in cash and distributed according to the participants’ current payroll deduction distribution elections. Participants may elect to receive dividends on shares in their Chevron Stock and Chevron ESOP accounts as a taxable distribution, or reinvest the dividends into their Chevron Stock account.

Vesting. Employees are always fully vested in all contributions to their accounts, as well as the investment income earned from all contributions to the Plan.

- 5 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017 AND 2016


NOTE 1 - Description of the Plan (Continued)

Participant Accounts. Contributions are invested in funds within a number of Plan investments. Employee contributions are comprised of basic and supplemental contributions and rollover contributions from other qualified retirement plans or from a rollover IRA, on a pre-tax, after-tax, or Roth 401(k) basis.

Trustee. Vanguard Fiduciary Trust Company (Vanguard) is the trustee of the Plan. Vanguard is also the Plan’s recordkeeper. The trustee has the authority to manage the assets of the Plan in accordance with its terms and those of the trust agreement. The Corporation and Vanguard entered into a sub-trust agreement with State Street Bank and Trust Company (State Street) to perform custodial and administrative functions for the Dodge & Cox Income Separate Account (Separate Account).

Notes Receivable from Participants. The Plan loan provision allows participants to borrow funds from their Plan account, subject to certain restrictions and limitations. Participants may borrow up to the lesser of $50,000 or 50% of their total vested account balance or the value of the account(s) used to fund the loan. The minimum loan is $1,000. The minimum term for repayment of any loan is 6 months and the maximum term is 5 years. However, the maximum term for repayment of a loan to purchase the participant’s principal residence is 25 years. Loans bear a fixed rate of interest equal to 2 percent plus the average one-year jumbo certificate of deposit rate, as published in The Wall Street Journal on the last Wednesday of the preceding month. Interest rates charged during 2017 ranged from 2.23% to 9.50%. Most loan repayments are made through payroll deductions and the principal and interest paid by the participants are reinvested in the participants’ accounts. Notes receivable from participants totaled $136,976,666 and $135,115,786 as of December 31, 2017 and 2016, respectively.

Plan Termination. The Corporation expects to continue the ESIP indefinitely, but has the authority to amend or terminate the ESIP at any time. In the event of a plan termination, the trust fund shall continue until any previously unallocated assets of the Plan are allocated to accounts and distributed to participants or beneficiaries in accordance with applicable law and pursuant to written rules and procedures adopted by the Corporation prior to such termination. In addition, upon plan termination, neither the Corporation nor any other person shall have a liability or obligation to provide additional benefits. Participants or beneficiaries shall obtain benefits solely from the trust fund.







- 6 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017 AND 2016


NOTE 1 - Description of the Plan (Continued)

Plan Expenses. In accordance with the Department of Labor’s (DOL) rules under ERISA section 408(b)(2), total all-in fees are disclosed by the service provider. In accordance with these DOL rules, recordkeeping and trustee fees are unbundled and paid by the participants. Other administrative expenses relating to the Plan, including audit fees and participant education retirement services are paid by the Plan to the extent Plan forfeiture funds are sufficient. If not, such fees are paid by the Corporation. Certain Chevron employee and administrative costs are being reimbursed to the Corporation by the Plan.

NOTE 2 - Summary of Significant Accounting Policies

Accounting Pronouncement. In May 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent). The update applies to reporting entities that elect to measure the fair value of an investment using the net asset value (NAV) per share (or its equivalent) practical expedient. The update simplifies Topic 820 by removing the requirement to categorize within the fair value hierarchy investments which use the net asset value as a practical expedient and removes certain disclosures for all such investments. ASU No. 2015-07 is effective retrospectively for fiscal years beginning after December 15, 2016, with early adoption permitted. ASU No. 2015-07 has no impact on the Plan’s financial statements since there are no investments that calculate NAV practical expedient.

The following are the significant accounting policies followed by the Plan:

Basis of Accounting. The financial statements of the ESIP are presented on the accrual basis of accounting.

Investment Valuation and Income Recognition. Investments are reported at fair value, which is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Investments in the core and supplemental options are valued on each business day on which the New York Stock Exchange is open for trading to reflect contributions, distributions, income, expenses, gains and losses. The difference between cost and market value represents unrealized appreciation or depreciation as of the reporting date. The valuation of the underlying securities in the Vanguard Brokerage Option are determined by Vanguard Brokerage Service daily.

Net appreciation (depreciation) in fair value of investments includes realized gains (losses) and unrealized appreciation (depreciation).



- 7 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017 AND 2016


NOTE 2 - Summary of Significant Accounting Policies (Continued)

Realized gains (losses) on investments are based on sales proceeds less average cost. Sales and purchases between participants are included in realized gains (losses). Security purchases and sales are recorded as of the trade date for such transactions.

Dividend income earned on investments held and interest income earned on funds pending investment are recorded on an accrual basis.

Notes Receivable from Participants. Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent notes receivable from participants are reclassified as distributions based upon the terms of the Plan rules.

Use of Estimates. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

NOTE 3 - Fair Value Measurements

The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy are described below:

Level 1:
Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.

Level 2:
Inputs to the valuation methodology include:
Quoted prices for similar assets or liabilities in active markets;
Quoted prices for identical or similar assets or liabilities in inactive markets;
Inputs other than quoted prices that are observable for the asset or liability; and
Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3: Inputs to the valuation methodology are unobservable and significant to the fair value measurement.


- 8 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017 AND 2016


NOTE 3 - Fair Value Measurements (Continued)

The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

Following is a description of the valuation methodologies used for assets and liabilities measured at fair value. There have been no changes in the methodologies used at December 31, 2017 and 2016.

Common stocks and debt instruments are valued at the closing price reported on the active market on which the individual securities are traded.
Shares of registered investment companies are valued at the net asset value of shares held by the Plan at year end.
Corporate bonds are valued at the closing price reported in the active market in which the bond is traded.
U.S. government securities are valued at the closing price reported in the active market in which the individual security is traded.
Mortgages are valued on the basis of their future principal and interest payments discounted at prevailing interest rates for similar investments.
Asset-backed securities are priced based on a compilation of primarily observable market information.
Cash equivalents are valued at cost, which approximates fair value.
Collective investment funds are stated at fair value as determined by the issuers based on the unit values of the funds. Unit values are determined by dividing the fund’s net assets, which represents the unadjusted prices in active markets of the underlying investments, by the number of units outstanding at the valuation date.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.








- 9 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017 AND 2016


NOTE 3 - Fair Value Measurements (Continued)

The following tables set forth by level, within the fair value hierarchy, the Plan’s investments at fair value as of December 31, 2017 and 2016:

 
Investments at Fair Value (in thousands) as of December 31, 2017
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
Common stocks
$
7,953,209

 
$

 
$

 
$
7,953,209

Registered investment companies
5,023,427

 

 

 
5,023,427

Vanguard Brokerage Option
261,412

 

 

 
261,412

Collective investment funds

 
6,261,954

 

 
6,261,954

Separate Account:
 
 
 
 
 
 
 
   Preferred stock

 
2,953

 

 
2,953

   Corporate bonds

 
112,981

 

 
112,981

   Mortgages

 
107,172

 

 
107,172

   U.S. government securities

 
65,969

 

 
65,969

   Asset-backed securities

 
429

 

 
429

   Cash equivalents

 
10,060

 

 
10,060

   Receivables

 
2,193

 

 
2,193

   Liabilities

 
(211
)
 

 
(211
)
 

 
301,546

 

 
301,546

 
 
 
 
 
 
 
 
Total investments, at fair value
$
13,238,048

 
$
6,563,500

 
$

 
$
19,801,548

 
Investments at Fair Value (in thousands) as of December 31, 2016
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
Common stocks
$
8,516,499

 
$

 
$

 
$
8,516,499

Registered investment companies
4,456,960

 

 

 
4,456,960

Vanguard Brokerage Option
276,501

 

 

 
276,501

Collective investment funds

 
5,713,241

 

 
5,713,241

Separate Account:
 
 
 
 
 
 
 
   Preferred stock

 
2,774

 
 
 
2,774

   Corporate bonds

 
123,313

 

 
123,313

   Mortgages

 
93,549

 

 
93,549

   U.S. government securities

 
53,957

 

 
53,957

   Asset-backed securities

 
675

 

 
675

   Cash equivalents

 
10,756

 

 
10,756

   Receivables

 
2,821

 

 
2,821

   Liabilities

 
(3,693
)
 

 
(3,693
)
 

 
281,378

 

 
281,378

 
 
 
 
 
 
 
 
Total investments, at fair value
$
13,249,960

 
$
5,994,619

 
$

 
$
19,244,579

 
 
 
 
 
 
 
 

- 10 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017 AND 2016


NOTE 4 - Investments

At December 31, 2017 and 2016, the following broad range of investment options were available to participants:

Core Funds
Fund Name
 
Fund Type
Chevron Leveraged ESOP
 
Company Stock
Chevron Stock
 
Company Stock
Vanguard Prime Money Market Fund 1
 
Money Market
Vanguard Federal Money Market Fund
 
Money Market
Vanguard Total Bond Market Index Fund 1
 
Fixed Income
Vanguard Institutional Total Bond Market Index Trust
 
Fixed Income
Vanguard Short-Term Bond Index Fund
 
Fixed Income
Vanguard Institutional Index Fund 1
 
Large-Cap Stock
Vanguard Institutional 500 Index Trust
 
Large-Cap Stock
Vanguard Total Stock Market Index Fund 1
 
Growth and Income Stock
Vanguard Institutional Total Stock Market Index Trust
 
Growth and Income Stock
Vanguard Extended Market Index Fund 1
 
Small & Mid-Cap Growth Stock
Vanguard Institutional Extended Market Trust
 
Small & Mid-Cap Growth Stock
Vanguard Developed Markets Index Fund
 
International Stock
Vanguard Small Cap Index Fund
 
Small Cap Value Stock
Vanguard REIT Index Fund
 
Real Estate
Vanguard Emerging Markets Stock Index Fund
 
International Stock
Vanguard Total World Stock Index Fund
 
Global Stock
SSgA US Inflation Protected Bond Fund
 
Fixed Income

Target Date Retirement Funds
Fund Name
 
Fund Type
Vanguard Target Retirement Income Trust Plus 2
 
Balanced
Vanguard Target Retirement 2010 Trust Plus 3
 
Balanced
Vanguard Target Retirement 2015 Trust Plus 2
 
Balanced
Vanguard Target Retirement 2020 Trust Plus 2
 
Balanced
Vanguard Target Retirement 2025 Trust Plus 2
 
Balanced
Vanguard Target Retirement 2030 Trust Plus 2
 
Balanced
Vanguard Target Retirement 2035 Trust Plus 2
 
Balanced
Vanguard Target Retirement 2040 Trust Plus 2
 
Balanced
Vanguard Target Retirement 2045 Trust Plus 2
 
Balanced
Vanguard Target Retirement 2050 Trust Plus 2
 
Balanced
 
 
 
1 Fund was terminated as an investment option effective June 30, 2016.
2 Fund was terminated as an investment option effective November 30, 2017.
3 Fund was merged into Vanguard Target Retirement Trust Plus effective June 30, 2018.

- 11 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017 AND 2016


NOTE 4 - Investments (Continued)

Target Date Retirement Funds
Fund Name
 
Fund Type
Vanguard Target Retirement 2055 Trust Plus 2
 
Balanced
Vanguard Target Retirement 2060 Trust Plus 2
 
Balanced
Vanguard Target Retirement 2065 Trust Plus 2
 
Balanced
Vanguard Target Retirement Income Trust Select 4
 
Balanced
Vanguard Target Retirement 2015 Trust Select 4
 
Balanced
Vanguard Target Retirement 2020 Trust Select 4
 
Balanced
Vanguard Target Retirement 2025 Trust Select 4
 
Balanced
Vanguard Target Retirement 2030 Trust Select 4
 
Balanced
Vanguard Target Retirement 2035 Trust Select 4
 
Balanced
Vanguard Target Retirement 2040 Trust Select 4
 
Balanced
Vanguard Target Retirement 2045 Trust Select 4
 
Balanced
Vanguard Target Retirement 2050 Trust Select 4
 
Balanced
Vanguard Target Retirement 2055 Trust Select 4
 
Balanced
Vanguard Target Retirement 2060 Trust Select 4
 
Balanced
Vanguard Target Retirement 2065 Trust Select 4
 
Balanced

Supplemental Funds
Fund Name
 
Fund Type
Dodge & Cox Income Separate Account
 
Fixed Income
Vanguard Windsor II Fund
 
Large-Cap Value Stock
Vanguard PRIMECAP Fund
 
Large-Cap Growth Stock
American Funds EuroPacific Growth Fund
 
International Stock
 
 
 
2 Fund was terminated as an investment option effective November 30, 2017.
4 Fund was added as an investment option effective December 1, 2017.

Vanguard Brokerage Option (VBO)

Through the Vanguard Brokerage Services, a participant may choose from approximately 6,000 mutual funds from Vanguard and other companies, and Exchange-Traded Funds that are not included in the core or supplemental investment funds. There is a $50 annual fee charged to participants who use this option that is paid directly to Vanguard. Within each fund offered in the VBO, additional fees may be charged, either accrued within a fund’s pooled price or charged directly on deposits or withdrawals depending upon the Investment.





- 12 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017 AND 2016


NOTE 5 - Income Taxes

The Plan received a determination letter dated October 23, 2013 from the Internal Revenue Service (IRS) stating that the Plan is qualified with the applicable requirements of the Code. Subsequent to this issuance of the determination letter, the Plan was amended. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Corporation believes the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan, as amended, is qualified and the related trust is tax exempt.

NOTE 6 - Risks and Uncertainties

The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes, both positive and negative, in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statement of net assets available for benefits.

NOTE 7 - Related Party and Party-In-Interest Transactions

Certain Plan investments consist of shares of registered investment funds managed by Vanguard Fiduciary Trust Company and shares of common stock of the Corporation. Transactions with Vanguard Fiduciary Trust Company, as the trustee and recordkeeper, and the Corporation, as the Plan sponsor and Plan administrator, qualify as party-in-interest and related party transactions.

NOTE 8 - Subsequent Events

In preparing the Plan’s financial statements, subsequent events and transactions have been evaluated for potential recognition. Plan management determined that there are no subsequent events or transactions that require disclosure to or adjustment in the financial statements except as disclosed below:

On February 17, 2016, six participants of the Plan filed a class action complaint against the Corporation and the ESIP Investment Committee (collectively “Chevron”) alleging fiduciary breaches under the Employee Retirement Income Security Act. The plaintiffs seek to recover for the Plan losses allegedly incurred as a result of purportedly excessive administrative and investment fees and imprudent investment options. Chevron denies the plaintiffs’ allegations and has filed a motion to dismiss the complaint. The complaint was dismissed with prejudice by the trial court. The plaintiffs have filed an appeal and the appeals process is on-going. The amount at issue, if any, has yet to be determined with certainty.


- 13 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017 AND 2016


NOTE 8 - Subsequent Events (Continued)

Effective January 1, 2018, Fidelity Management Trust Company and Fidelity Workplace Services LLC became the trustee and recordkeeper, respectively, of the Plan.


- 14 -


CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
EIN 94-0890210 PLAN NO. 001
SCHEDULE H - PART IV, LINE 4(i) - SCHEDULE OF ASSETS HELD
DECEMBER 31, 2017
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (d)
 
 (e)
 
 
 
 
 
 
 Description of Investment Including
 
 
 
 
 
 
 
 
 Identity of Issue, Borrower,
 
 Maturity Date, Rate of Interest,
 
 Number of
 
 
 
 
 
 
 Lessor, or Similar Party
 
 Collateral, Par, or Maturity Value
 
 Shares / Units
 
Cost
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 COMMON STOCK
 
 
 
 
 
 
 
 
 
 *
 
 Chevron Corporation
 
 
 Common Stock
 
63,530,684

 
$
4,167,220

 
$
7,953,209

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL COMMON STOCK
 
 
 
 
 
4,167,220

 
7,953,209

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 REGISTERED INVESTMENT COMPANIES
 
 
 
 
 
 
 
 
 *
 
Vanguard PRIMECAP Fund Admiral Shares
 
 
 
8,997,065

 
845,726

 
1,202,098

 *
 
Vanguard Federal Money Market Fund Investor Shares
 
 
 
990,423,559

 
990,424

 
990,424

 *
 
Vanguard Developed Markets Index Fund Institutional Plus Shares
 
37,083,169

 
752,017

 
836,596

 *
 
Vanguard Windsor II Fund Admiral Shares
 
 
 
9,849,062

 
577,661

 
661,069

 *
 
Vanguard Short-Term Bond Fund Index Institutional Plus Shares
 
25,933,894

 
273,016

 
269,194

 *
 
Vanguard Small Cap Index Fund Institutional Plus Shares
 
 
 
1,445,613

 
239,305

 
295,339

 *
 
Vanguard REIT Index Fund Institutional Shares
 
 
 
6,594,546

 
118,098

 
119,955

 *
 
Vanguard Emerging Market Stock Index Fund Institutional Plus Shares
 
2,084,134

 
173,999

 
201,307

 *
 
Vanguard World Stock Fund Institutional Shares
 
 
 
732,734

 
95,088

 
110,965

 
   
American Funds EuroPacific Growth Fund Class R-6
 
 
 
5,993,600

 
274,264

 
336,480

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL REGISTERED INVESTMENT COMPANIES
 
 
 
4,339,598

 
5,023,427

 
 
 
 
 
 
 
 
 
 
 
 
 
 *
 
VANGUARD BROKERAGE OPTION
 
 
 
 
 
261,412

 
261,412

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
COLLECTIVE INVESTMENT FUNDS
 
 
 
 
 
 
 
 
 *
 
Vanguard Institutional 500 Index Trust
 
 
 
 
14,388,260

 
1,481,666

 
1,983,709

 *
 
Vanguard Institutional Total Bond Market Index Trust
 
 
11,313,270

 
1,129,792

 
1,139,473

 *
 
Vanguard Institutional Extended Markets Index Trust
 
 
7,126,639

 
735,315

 
1,008,918

 *
 
Vanguard Institutional Total Stock Market Index Trust
 
 
 
5,613,765

 
583,900

 
777,282

 *
 
Vanguard Target Date Retirement Income Trust Select
 
 
 
2,311,616

 
77,812

 
78,318

 *
 
Vanguard Target Date Retirement Trust 2015 Select
 
 
 
 
3,403,491

 
117,085

 
118,033

 *
 
Vanguard Target Date Retirement Trust 2020 Select
 
 
 
 
8,631,722

 
303,687

 
306,512

 *
 
Vanguard Target Date Retirement Trust 2025 Select
 
 
 
 
7,702,420

 
274,851

 
277,749

 *
 
Vanguard Target Date Retirement Trust 2030 Select
 
 
 
 
3,951,882

 
142,478

 
144,046

 *
 
Vanguard Target Date Retirement Trust 2035 Select
 
 
 
 
2,985,755

 
108,775

 
110,085

 *
 
Vanguard Target Date Retirement Trust 2040 Select
 
 
 
 
2,499,067

 
91,876

 
93,065

 *
 
Vanguard Target Date Retirement Trust 2045 Select
 
 
 
 
2,328,773

 
86,168

 
87,306

 *
 
Vanguard Target Date Retirement Trust 2050 Select
 
 
 
 
1,437,205

 
53,150

 
53,852

 *
 
Vanguard Target Date Retirement Trust 2055 Select
 
 
 
 
591,223

 
21,854

 
22,141

 *
 
Vanguard Target Date Retirement Trust 2060 Select
 
 
 
 
353,250

 
13,060

 
13,233

 *
 
Vanguard Target Date Retirement Trust 2065 Select
 
 
 
 
52,522

 
1,166

 
1,181

 *
 
SSgA U.S. Inflation Protected Bond Index Non-lending Service Funds Class C
 
3,420,874

 
45,874

 
47,051

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL COLLECTIVE INVESTMENT FUNDS
 
 
 
5,268,509

 
6,261,954

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SEPARATE ACCOUNT
 
 
 
 
 
 
 
 
 
 
 
Preferred Stock
 
 
 
 
 
 
 
 
 
 
 
 
Citigroup
 
 
 Capital XIII Preferred Stock
 
107,450

 
2,874

 
2,953

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
 
 
 
 
 
 
 
 
 
 
 
 
21st Century Fox America Company
 
 
Guaranty 02/41 6.150%
 
295,000

 
336

 
392

 
 
 
21st Century Fox America Company
 
 
Guaranty 03/37 6.150%
 
290,000

 
325

 
380

 
 
 
21st Century Fox America Company
 
 
Guaranty 11/37 6.650%
 
80,000

 
93

 
110

 
 
 
21st Century Fox America Company
 
 
Guaranty 12/34 6.200%
 
70,000

 
78

 
90

 
 
 
21st Century Fox America Company
 
 
Guaranty 12/35 6.400%
 
285,000

 
321

 
379

 
 
 
AT&T Inc
 
 
Sr Unsecured 02/47 5.650%
 
475,000

 
474

 
520

 
 
 
AT&T Inc
 
 
Sr Unsecured 03/48 4.500%
 
1,125,000

 
1,126

 
1,054


- 15 -




CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
EIN 94-0890210 PLAN NO. 001
SCHEDULE H - PART IV, LINE 4(i) - SCHEDULE OF ASSETS HELD
DECEMBER 31, 2017
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (d)
 
 (e)
 
 
 
 
 
 
 Description of Investment Including
 
 
 
 
 
 
 
 
 Identity of Issue, Borrower,
 
 Maturity Date, Rate of Interest,
 
 Number of
 
 
 
 
 
 
 Lessor, or Similar Party
 
 Collateral, Par, or Maturity Value
 
 Shares / Units
 
Cost
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
AT&T Inc
 
 
Sr Unsecured 05/46 4.750%
 
475,000

 
$
473

 
$
465

 
 
 
AT&T Inc
 
 
Sr Unsecured 09/40 5.350%
 
560,000

 
616

 
591

 
 
 
AT&T Inc
 
 
Sr Unsecured 144A 11/31 8.250%
 
821,000

 
1,140

 
1,139

 
 
 
Bank of America Corp Capital Trust XI Limited
 
 
Guaranty 05/36 6.625%
 
2,470,000

 
2,736

 
3,199

 
 
 
Bank of America Corp
 
 
Sr Unsecured 144A 12/23 Var 3.004%
 
2,080,000

 
2,204

 
2,085

 
 
 
Bank of America Corp
 
 
Subordinated 08/24 4.200%
 
400,000

 
400

 
421

 
 
 
Bank of America Corp
 
 
Subordinated 10/26 4.250%
 
375,000

 
365

 
395

 
 
 
Bank One Capital III
 
 
Limited Guaranty 09/30 8.750%
 
450,000

 
619

 
662

 
 
 
Barclays
 
 
Plc Subordinated 05/28 4.836%
 
325,000

 
325

 
338

 
 
 
Barclays
 
 
Plc Subordinated 09/24 4.375%
 
1,075,000

 
1,073

 
1,101

 
 
 
BNP Paribas
 
 
10/24 4.250%
 
2,825,000

 
2,844

 
2,982

 
 
 
BNP Paribas
 
 
Guaranty 144A 09/25 Var 4.375%
 
675,000

 
669

 
705

 
 
 
BNSF Railway Co
 
 
2007 1 P Pass Thru Ce 04/24 5.996%
 
340,928

 
399

 
379

 
 
 
Boston Properties LP
 
 
Sr Unsecured 05/21 4.125%
 
955,000

 
1,034

 
998

 
 
 
Boston Properties LP
 
 
Sr Unsecured 10/19 5.875%
 
475,000

 
546

 
501

 
 
 
Boston Properties LP
 
 
Sr Unsecured 11/20 5.625%
 
545,000

 
634

 
589

 
 
 
Burlingtn No
 
 
SF 06 1 TR Pass Thru Ce 01/24 5.720%
 
131,138

 
154

 
140

 
 
 
Burlingtn No
 
 
SF 06 2 TR Pass Thru Ce 04/24 5.629%
 
168,916

 
197

 
180

 
 
 
Burlingtn No
 
 
SF 99 2 TR Pass Thru Ce 01/21 7.570%
 
53,621

 
64

 
56

 
 
 
Burlingtn North Santa Fe
 
 
Sr Unsecured 09/22 3.050%
 
575,000

 
576

 
586

 
 
 
Burlingtn North Santa Fe
 
 
Sr Unsecured 09/23 3.850%
 
475,000

 
473

 
502

 
 
 
Capital One Financial Co
 
 
Sr Unsecured 06/23 3.500%
 
1,375,000

 
1,376

 
1,399

 
 
 
Capital One Financial Co
 
 
Sr Unsecured 10/25 4.200%
 
700,000

 
708

 
720

 
 
 
Cemex Finance LLC
 
 
Sr Secured 144A 04/24 6.000%
 
1,475,000

 
1,423

 
1,552

 
 
 
Cemex Sab De Cv
 
 
Sr Secured 144A 05/25 6.125%
 
1,175,000

 
1,062

 
1,254

 
 
 
Charter Comm Opt LLC/CAP
 
 
Sr Secured 05/47 5.375%
 
875,000

 
869

 
897

 
 
 
Charter Comm Opt LLC/CAP
 
 
Sr Secured 07/25 4.908%
 
700,000

 
699

 
744

 
 
 
Charter Comm Opt LLC/CAP
 
 
Sr Secured 10/45 6.484%
 
1,600,000

 
1,763

 
1,865

 
 
 
Cigna Corp
 
 
Sr Unsecured 03/23 7.650%
 
270,000

 
344

 
326

 
 
 
Cigna Corp
 
 
Sr Unsecured 05/27 7.875%
 
234,000

 
311

 
316

 
 
 
Cox Communications Inc
 
 
Sr Unsecured 144A 02/25 3.850%
 
1,400,000

 
1,391

 
1,433

 
 
 
Cox Communications Inc
 
 
Sr Unsecured 144A 08/27 3.500%
 
1,500,000

 
1,485

 
1,480

 
 
 
Cox Communications Inc
 
 
Sr Unsecured 144A 12/22 3.250%
 
1,575,000

 
1,467

 
1,578

 
 
 
CRH America Inc Company
 
 
Guaranty 144A 05/25 Var 3.875%
 
725,000

 
724

 
757

 
 
 
CSX Transportation Inc
 
 
Sr Secured 01/23 6.251%
 
126,206

 
151

 
142

 
 
 
CSX Transportation Inc
 
 
Sr Unsecured 06/20 9.750%
 
100,000

 
142

 
117

 
 
 
Dell Int LLC/EMC Corp
 
 
Sr Secured 144A 06/23 5.450%
 
1,400,000

 
1,427

 
1,513

 
 
 
Dillards Inc
 
 
Sr Unsecured 05/27 7.750%
 
125,000

 
121

 
144

 
 
 
Dillards Inc
 
 
Sr Unsecured 07/26 7.750%
 
210,000

 
207

 
240

 
 
 
Dillards Inc
 
 
Sr Unsecured 08/18 7.130%
 
230,000

 
241

 
235

 
 
 
Dillards Inc
 
 
Sr Unsecured 12/28 7.000%
 
280,000

 
265

 
308

 
 
 
Dominion Resources Inc Jr
 
 
Subordina 04/21 VAR
 
400,000

 
400

 
416

 
 
 
Dominion Resources Inc Jr
 
 
Subordina 07/20 2.579%
 
325,000

 
325

 
325

 
 
 
Dominion Resources Inc Jr
 
 
Subordina 10/54 VAR
 
1,325,000

 
1,325

 
1,431

 
 
 
Dow Chemical Co/The
 
 
Sr Unsecured 05/39 9.400%
 
1,225,000

 
1,901

 
2,094

 
 
 
Dow Chemical Co/The
 
 
Sr Unsecured 11/29 7.375%
 
480,000

 
636

 
640

 
 
 
Eaton Corp Company
 
 
Guaranty 11/22 2.750%
 
650,000

 
648

 
652

 
 
 
Enel Finance Intl Nv Company
 
 
Guaranty 144A 09/37 6.800%
 
1,300,000

 
1,476

 
1,738

 
 
 
Enel Finance Intl Nv Company
 
 
Guaranty 144A 10/39 6.000%
 
700,000

 
671

 
871

 
 
 
ERP Operating LP
 
 
Sr Unsecured 04/23 3.000%
 
625,000

 
619

 
632

 
 
 
ERP Operating LP
 
 
Sr Unsecured 12/21 4.625%
 
723,000

 
787

 
774

 
 
 
FedEx Corp
 
 
1998 Pass Tst Pass Thru Ce 07/23 6.720%
 
125,116

 
148

 
135

 
 
 
Ford Motor Credit Co LLC
 
 
Sr Unsecured 01/20 2.681%
 
650,000

 
651

 
652

 
 
 
Ford Motor Credit Co LLC
 
 
Sr Unsecured 01/20 8.125%
 
300,000

 
378

 
332


- 16 -




CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
EIN 94-0890210 PLAN NO. 001
SCHEDULE H - PART IV, LINE 4(i) - SCHEDULE OF ASSETS HELD
DECEMBER 31, 2017
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (d)
 
 (e)
 
 
 
 
 
 
 Description of Investment Including
 
 
 
 
 
 
 
 
 Identity of Issue, Borrower,
 
 Maturity Date, Rate of Interest,
 
 Number of
 
 
 
 
 
 
 Lessor, or Similar Party
 
 Collateral, Par, or Maturity Value
 
 Shares / Units
 
Cost
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
Ford Motor Credit Co LLC
 
 
Sr Unsecured 08/21 5.875%
 
1,800,000

 
$
2,017

 
$
1,977

 
 
 
HSBC Holdings Plc
 
 
Plc Sr Unsecured 03/26 4.300%
 
400,000

 
399

 
425

 
 
 
HSBC Holdings Plc
 
 
Plc Sr Unsecured 04/21 5.100%
 
515,000

 
570

 
553

 
 
 
HSBC Holdings Plc
 
 
Plc Subordinated 05/36 6.500%
 
1,560,000

 
1,731

 
2,036

 
 
 
HSBC Holdings Plc
 
 
Plc Subordinated 09/37 6.500%
 
900,000

 
1,000

 
1,184

 
 
 
Imperial Brands Finance Company
 
 
Guaranty 144A 07/22 3.750%
 
975,000

 
971

 
1,008

 
 
 
Imperial Brands Finance Company
 
 
Guaranty 144A 07/25 4.250%
 
2,625,000

 
2,599

 
2,752

 
 
 
JPMorgan Chase & Co
 
 
Subordinated 09/24 3.875%
 
850,000

 
849

 
887

 
 
 
JPMorgan Chase & Co
 
 
Subordinated 10/27 4.250%
 
700,000

 
736

 
744

 
 
 
Kinder Morgan Ener Part Company
 
 
Guaranty 02/24 4.150%
 
650,000

 
644

 
674

 
 
 
Kinder Morgan Ener Part Company
 
 
Guaranty 03/43 5.000%
 
1,125,000

 
994

 
1,142

 
 
 
Kinder Morgan Ener Part Company
 
 
Guaranty 09/39 6.500%
 
1,575,000

 
1,642

 
1,859

 
 
 
Lloyds Banking Group
 
 
Plc Subordinated 03/26 4.650%
 
675,000

 
671

 
713

 
 
 
Lloyds Banking Group
 
 
Plc Subordinated 11/24 4.500%
 
1,445,000

 
1,447

 
1,516

 
 
 
Macys Retail Hldgs Inc Company
 
 
Guaranty 02/28 7.000%
 
255,000

 
304

 
275

 
 
 
Macys Retail Hldgs Inc Company
 
 
Guaranty 04/29 6.900%
 
990,000

 
1,122

 
1,045

 
 
 
Macys Retail Hldgs Inc Company
 
 
Guaranty 07/24 6.650%
 
390,000

 
468

 
428

 
 
 
Macys Retail Hldgs Inc Company
 
 
Guaranty 07/34 6.700%
 
835,000

 
1,005

 
874

 
 
 
Myriad Int Holdings Bv Company
 
 
Guaranty 144A 07/20 6.000%
 
1,275,000

 
1,307

 
1,369

 
 
 
Myriad Int Holdings Bv Company
 
 
Guaranty 144A 07/25 5.500%
 
1,575,000

 
1,574

 
1,715

 
 
 
Myriad Int Holdings Bv Company
 
 
Guaranty 144A 07/27 4.850%
 
425,000

 
425

 
441

 
 
 
Navient Corp.
 
 
Sr Unsecured 06/18 8.450%
 
1,850,000

 
2,009

 
1,897

 
 
 
Nordstrom Inc
 
 
Sr Unsecured 03/28 6.950%
 
125,000

 
164

 
142

 
 
 
Petrobras Global Finance Company
 
 
Guaranty 05/23 4.375%
 
1,525,000

 
1,521

 
1,508

 
 
 
Petroleos Mexicanos Company
 
 
Guaranty 01/45 6.375%
 
1,250,000

 
1,078

 
1,257

 
 
 
Petroleos Mexicanos Company
 
 
Guaranty 01/46 5.625%
 
800,000

 
794

 
740

 
 
 
Petroleos Mexicanos Company
 
 
Guaranty 06/35 6.625%
 
1,425,000

 
1,632

 
1,522

 
 
 
Petroleos Mexicanos Company
 
 
Guaranty 08/26 6.875%
 
850,000

 
961

 
964

 
 
 
Petroleos Mexicanos Company
 
 
Guaranty 144A 03/27 6.500%
 
650,000

 
644

 
710

 
 
 
Relx Capital Company
 
 
Guaranty 01/19 8.625%
 
275,000

 
350

 
292

 
 
 
Relx Capital Company
 
 
Guaranty 10/22 3.125%
 
1,240,000

 
1,145

 
1,249

 
 
 
Rio Oil Finance Trust
 
 
Sr Secured 144A 01/27 9.750%
 
1,862,092

 
1,862

 
2,011

 
 
 
Rio Oil Finance Trust
 
 
Sr Secured 144A 07/24 9.250%
 
2,018,973

 
1,988

 
2,180

 
 
 
Royal Bk Scotlnd Grp
 
 
Plc Subordinated 12/22 6.125%
 
2,250,000

 
2,216

 
2,466

 
 
 
Royal Bk Scotlnd Grp
 
 
Plc Subordinated 12/23 6.000%
 
1,100,000

 
1,134

 
1,212

 
 
 
Telecom Italia Capital Company
 
 
Guaranty 06/18 6.999%
 
1,135,000

 
1,270

 
1,156

 
 
 
Telecom Italia Capital Company
 
 
Guaranty 06/19 7.175%
 
1,825,000

 
1,972

 
1,937

 
 
 
Telecom Italia Capital Company
 
 
Guaranty 06/38 7.721%
 
550,000

 
569

 
710

 
 
 
Telecom Italia Capital Company
 
 
Guaranty 07/36 7.200%
 
425,000

 
399

 
528

 
 
 
Time Warner Cable Inc Company
 
 
Guaranty 02/19 8.750%
 
335,000

 
443

 
357

 
 
 
Time Warner Cable Inc Company
 
 
Guaranty 02/20 5.000%
 
80,000

 
89

 
83

 
 
 
Time Warner Cable Inc Company
 
 
Guaranty 07/38 7.300%
 
800,000

 
875

 
1,003

 
 
 
Time Warner Cable Inc Company
 
 
Guaranty 09/21 4.000%
 
760,000

 
814

 
783

 
 
 
TransCanada Trust Company
 
 
Guaranty 03/77 VAR
 
625,000

 
625

 
645

 
 
 
TransCanada Trust Company
 
 
Guaranty 05/75 VAR
 
1,450,000

 
1,453

 
1,526

 
 
 
TransCanada Trust Company
 
 
Guaranty 08/76 VAR
 
450,000

 
450

 
487

 
 
 
Ultrapar International SA Company
 
 
Guaranty 144A 10/26 5.250%
 
700,000

 
687

 
713

 
 
 
Union Pacific RR Co
 
 
07 3 Pass Thru Ce 01/31 6.176%
 
281,863

 
337

 
325

 
 
 
UNP RR Co
 
 
2006 Pass Trst Pass Thru Ce 07/30 5.866%
 
385,919

 
450

 
435

 
 
 
Unum Group
 
 
Sr Unsecured 02/28 7.190%
 
110,000

 
120

 
132

 
 
 
Unum Group
 
 
Sr Unsecured 03/28 7.250%
 
245,000

 
277

 
308

 
 
 
Unum Group
 
 
Sr Unsecured 12/28 6.750%
 
75,000

 
82

 
92

 
 
 
Verizon Communications
 
 
Sr Unsecured 01/36 4.272%
 
3,467,000

 
3,375

 
3,449

 
 
 
Verizon Communications
 
 
Sr Unsecured 04/49 5.012%
 
975,000

 
964

 
1,023


- 17 -




CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
EIN 94-0890210 PLAN NO. 001
SCHEDULE H - PART IV, LINE 4(i) - SCHEDULE OF ASSETS HELD
DECEMBER 31, 2017
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (d)
 
 (e)
 
 
 
 
 
 
 Description of Investment Including
 
 
 
 
 
 
 
 
 Identity of Issue, Borrower,
 
 Maturity Date, Rate of Interest,
 
 Number of
 
 
 
 
 
 
 Lessor, or Similar Party
 
 Collateral, Par, or Maturity Value
 
 Shares / Units
 
Cost
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
Wells Fargo & Company
 
 
Subordinated 07/27 4.300%
 
1,325,000

 
$
1,353

 
$
1,411

 
 
 
Wells Fargo Bank NA
 
 
Unsecured 12/19 2.150%
 
1,750,000

 
1,748

 
1,747

 
 
 
Wells Fargo Bank NA
 
 
Unsecured 12/19 VAR
 
900,000

 
900

 
908

 
 
 
Xerox Corporation
 
 
Sr Unsecured 05/18 6.350%
 
380,000

 
446

 
386

 
 
 
Xerox Corporation
 
 
Sr Unsecured 05/21 4.500%
 
395,000

 
414

 
413

 
 
 
Xerox Corporation
 
 
Sr Unsecured 12/19 5.625%
 
665,000

 
754

 
699

 
 
 
Zoetis Inc
 
 
Sr Unsecured 11/20 3.450%
 
450,000

 
449

 
461

 
 
 
Zoetis Inc
 
 
Sr Unsecured 11/25 4.500%
 
775,000

 
773

 
846

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Total Corporate bonds
 
 
 
 
 
108,496

 
112,981

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Mortgages
 
 
 
 
 
 
 
 
 
 
 
 
American Express Credit Account
 
 
AMXCA 2017 3A
 
1,100,000

 
1,100

 
1,091

 
 
 
American Express Credit Account
 
 
AMXCA 2017 4A
 
1,730,000

 
1,730

 
1,721

 
 
 
Fannie Mae
 
 
Fnr 2007 47 PE
 
327,679

 
354

 
348

 
 
 
Fannie Mae
 
 
Fnr 2008 24 GD
 
7,589

 
8

 
8

 
 
 
Fannie Mae
 
 
Fnr 2009 40 TB
 
35,736

 
40

 
39

 
 
 
Fannie Mae
 
 
Fnr 2009 53 QM
 
15,689

 
17

 
17

 
 
 
Fannie Mae
 
 
Fnr 2010 123 WT
 
330,399

 
375

 
379

 
 
 
Fannie Mae
 
 
Fnr 2010 136 BA
 
2,401,271

 
2,497

 
2,486

 
 
 
Fannie Mae
 
 
Fnr 2013 118 FB
 
684,766

 
688

 
690

 
 
 
Fannie Mae Whole Loan
 
 
Fnw 2003 W2 1A2
 
69,183

 
79

 
81

 
 
 
Fannie Mae Whole Loan
 
 
Fnw 2004 W2 5A
 
42,245

 
49

 
48

 
 
 
Fannie Mae Whole Loan
 
 
Fnw 2004 W8 3A
 
31,296

 
37

 
36

 
 
 
Fannie Mae Whole Loan
 
 
Fnw 2005 W1 1A3
 
56,473

 
67

 
65

 
 
 
Fannie Mae Whole Loan
 
 
Fnw 2007 W10 1A
 
103,105

 
117

 
113

 
 
 
Fannie Mae Whole Loan
 
 
Fnw 2007 W10 2A
 
31,051

 
35

 
34

 
 
 
Federal Home Loan
 
 
PC Pool 1B1150
 
51,523

 
55

 
54

 
 
 
Federal Home Loan
 
 
PC Pool 1G2080
 
58,172

 
62

 
61

 
 
 
Federal Home Loan
 
 
PC Pool 1G2667
 
26,250

 
28

 
27

 
 
 
Federal Home Loan
 
 
PC Pool 1H2581
 
54,690

 
58

 
58

 
 
 
Federal Home Loan
 
 
PC Pool 1Q0479
 
78,144

 
84

 
82

 
 
 
Federal Home Loan
 
 
PC Pool 1Q0556
 
30,787

 
33

 
32

 
 
 
Federal Home Loan
 
 
PC Pool 1Q0557
 
64,011

 
68

 
67

 
 
 
Federal Home Loan
 
 
PC Pool 1Q0558
 
87,272

 
94

 
92

 
 
 
Federal Home Loan
 
 
PC Pool 1Q1400
 
286,201

 
312

 
303

 
 
 
Federal Home Loan
 
 
PC Pool 2B2591
 
510,824

 
525

 
520

 
 
 
Federal Home Loan
 
 
PC Pool 2B3797
 
768,788

 
795

 
781

 
 
 
Federal Home Loan
 
 
PC Pool 781274
 
39,710

 
42

 
42

 
 
 
Federal Home Loan
 
 
PC Pool 782735
 
209,613

 
226

 
220

 
 
 
Federal Home Loan
 
 
PC Pool 840380
 
1,214,189

 
1,259

 
1,229

 
 
 
Federal Home Loan
 
 
PC Pool 840402
 
3,016,302

 
3,114

 
3,060

 
 
 
Federal Home Loan
 
 
PC Pool 847671
 
29,212

 
31

 
31

 
 
 
Federal Home Loan
 
 
PC Pool 848349
 
25,085

 
27

 
26

 
 
 
Federal Home Loan
 
 
PC Pool 849254
 
744,479

 
768

 
774

 
 
 
Federal Home Loan
 
 
PC Pool 849625
 
939,611

 
976

 
956

 
 
 
Federal Home Loan
 
 
PC Pool C91853
 
1,467,413

 
1,527

 
1,524

 
 
 
Federal Home Loan
 
 
PC Pool C91857
 
965,635

 
1,040

 
1,022

 
 
 
Federal Home Loan
 
 
PC Pool E02703
 
668,041

 
710

 
695

 
 
 
Federal Home Loan
 
 
PC Pool G01665
 
91,317

 
101

 
101

 
 
 
Federal Home Loan
 
 
PC Pool G01749
 
40,047

 
44

 
44

 
 
 
Federal Home Loan
 
 
PC Pool G01767
 
30,134

 
35

 
34

 
 
 
Federal Home Loan
 
 
PC Pool G01777
 
1,280,846

 
1,410

 
1,434

 
 
 
Federal Home Loan
 
 
PC Pool G03081
 
25,054

 
28

 
28


- 18 -




CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
EIN 94-0890210 PLAN NO. 001
SCHEDULE H - PART IV, LINE 4(i) - SCHEDULE OF ASSETS HELD
DECEMBER 31, 2017
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (d)
 
 (e)
 
 
 
 
 
 
 Description of Investment Including
 
 
 
 
 
 
 
 
 Identity of Issue, Borrower,
 
 Maturity Date, Rate of Interest,
 
 Number of
 
 
 
 
 
 
 Lessor, or Similar Party
 
 Collateral, Par, or Maturity Value
 
 Shares / Units
 
Cost
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
Federal Home Loan
 
 
PC Pool G04378
 
58,291

 
$
66

 
$
65

 
 
 
Federal Home Loan
 
 
PC Pool G05603
 
17,207

 
20

 
19

 
 
 
Federal Home Loan
 
 
PC Pool G05862
 
60,633

 
66

 
67

 
 
 
Federal Home Loan
 
 
PC Pool G06238
 
52,655

 
58

 
59

 
 
 
Federal Home Loan
 
 
PC Pool G06570
 
65,183

 
72

 
73

 
 
 
Federal Home Loan
 
 
PC Pool G06932
 
591,250

 
653

 
671

 
 
 
Federal Home Loan
 
 
PC Pool G07074
 
959,953

 
1,062

 
1,063

 
 
 
Federal Home Loan
 
 
PC Pool G07568
 
1,364,728

 
1,455

 
1,456

 
 
 
Federal Home Loan
 
 
PC Pool G07596
 
755,080

 
808

 
818

 
 
 
Federal Home Loan
 
 
PC Pool G08583
 
1,776,971

 
1,929

 
1,890

 
 
 
Federal Home Loan
 
 
PC Pool G08759
 
1,832,375

 
1,962

 
1,948

 
 
 
Federal Home Loan
 
 
PC Pool G08768
 
3,320,375

 
3,553

 
3,529

 
 
 
Federal Home Loan
 
 
PC Pool G12277
 
14,627

 
16

 
15

 
 
 
Federal Home Loan
 
 
PC Pool G12339
 
39,673

 
43

 
41

 
 
 
Federal Home Loan
 
 
PC Pool G12758
 
27,658

 
30

 
29

 
 
 
Federal Home Loan
 
 
PC Pool G13338
 
31,292

 
34

 
33

 
 
 
Federal Home Loan
 
 
PC Pool G13346
 
30,790

 
34

 
32

 
 
 
Federal Home Loan
 
 
PC Pool G13854
 
640,253

 
680

 
665

 
 
 
Federal Home Loan
 
 
PC Pool G14585
 
1,877,193

 
1,998

 
1,953

 
 
 
Federal Home Loan
 
 
PC Pool G30305
 
24,123

 
27

 
26

 
 
 
Federal Home Loan
 
 
PC Pool G30458
 
193,554

 
214

 
216

 
 
 
Federal Home Loan
 
 
PC Pool G60034
 
1,132,018

 
1,229

 
1,205

 
 
 
Federal Home Loan
 
 
PC Pool G61080
 
8,583,344

 
9,224

 
9,127

 
 
 
Federal Home Loan
 
 
PC Pool H09070
 
10,683

 
12

 
12

 
 
 
Federal Home Loan
 
 
PC Pool H09203
 
9,607

 
11

 
10

 
 
 
Federal Home Loan
 
 
PC Pool J08788
 
246,796

 
266

 
259

 
 
 
Federal Home Loan
 
 
PC Pool Q48869
 
2,237,537

 
2,402

 
2,378

 
 
 
Federal Home Loan
 
 
PC Pool V83108
 
2,244,762

 
2,405

 
2,389

 
 
 
Federal Home Loan
 
 
PC Pool V83156
 
2,716,321

 
2,917

 
2,888

 
 
 
FHLMC
 
 
MultiFamily Structured K055 X1
 
691,341

 
66

 
64

 
 
 
FHLMC
 
 
MultiFamily Structured K056 X1
 
294,017

 
26

 
25

 
 
 
FHLMC
 
 
MultiFamily Structured K057 X1
 
636,657

 
55

 
53

 
 
 
FHLMC
 
 
MultiFamily Structured K065 X1
 
2,729,275

 
152

 
145

 
 
 
FHLMC
 
 
MultiFamily Structured K066 X1
 
2,347,824

 
146

 
140

 
 
 
FHLMC
 
 
MultiFamily Structured K067 X1
 
6,145,640

 
300

 
292

 
 
 
Federal Natl Mtg Assn
 
 
Pool 256985 FN 11/37 Fixed 7.000%
 
33,943

 
39

 
39

 
 
 
Federal Natl Mtg Assn
 
 
Pool 310048 FN 02/38 Fixed Var
 
19,136

 
22

 
22

 
 
 
Federal Natl Mtg Assn
 
 
Pool 555285 FN 03/33 Fixed Var
 
65,319

 
73

 
74

 
 
 
Federal Natl Mtg Assn
 
 
Pool 677709 FN 02/33 Fixed 5.500%
 
72,409

 
80

 
80

 
 
 
Federal Natl Mtg Assn
 
 
Pool 725206 FN 02/34 Fixed Var
 
22,629

 
25

 
25

 
 
 
Federal Natl Mtg Assn
 
 
Pool 725228 FN 03/34 Fixed Var
 
242,000

 
270

 
275

 
 
 
Federal Natl Mtg Assn
 
 
Pool 725271 FN 02/19 Fixed Var
 
502

 
1

 
1

 
 
 
Federal Natl Mtg Assn
 
 
Pool 725330 FN 03/34 Fixed Var
 
326,959

 
365

 
371

 
 
 
Federal Natl Mtg Assn
 
 
Pool 735415 FN 12/32 Fixed Var
 
143,879

 
165

 
164

 
 
 
Federal Natl Mtg Assn
 
 
Pool 735523 FN 12/19 Fixed Var
 
1,759

 
2

 
2

 
 
 
Federal Natl Mtg Assn
 
 
Pool 735869 FN 08/35 Floating Var
 
25,495

 
27

 
27

 
 
 
Federal Natl Mtg Assn
 
 
Pool 745238 FN 12/20 Fixed Var
 
3,181

 
3

 
3

 
 
 
Federal Natl Mtg Assn
 
 
Pool 745303 FN 01/36 Floating Var
 
37,313

 
40

 
39

 
 
 
Federal Natl Mtg Assn
 
 
Pool 745398 FN 06/35 Fixed Var
 
36,031

 
40

 
41

 
 
 
Federal Natl Mtg Assn
 
 
Pool 745942 FN 04/34 Fixed Var
 
42,243

 
47

 
48

 
 
 
Federal Natl Mtg Assn
 
 
Pool 832257 FN 08/35 Floating Var
 
41,351

 
43

 
43

 
 
 
Federal Natl Mtg Assn
 
 
Pool 888136 FN 12/21 Fixed Var
 
32,626

 
36

 
34

 
 
 
Federal Natl Mtg Assn
 
 
Pool 888262 FN 01/22 Fixed Var
 
16,713

 
18

 
17

 
 
 
Federal Natl Mtg Assn
 
 
Pool 888291 FN 03/22 Fixed Var
 
62,014

 
68

 
65


- 19 -




CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
EIN 94-0890210 PLAN NO. 001
SCHEDULE H - PART IV, LINE 4(i) - SCHEDULE OF ASSETS HELD
DECEMBER 31, 2017
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (d)
 
 (e)
 
 
 
 
 
 
 Description of Investment Including
 
 
 
 
 
 
 
 
 Identity of Issue, Borrower,
 
 Maturity Date, Rate of Interest,
 
 Number of
 
 
 
 
 
 
 Lessor, or Similar Party
 
 Collateral, Par, or Maturity Value
 
 Shares / Units
 
Cost
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
Federal Natl Mtg Assn
 
 
Pool 888365 FN 04/22 Fixed Var
 
24,136

 
$
27

 
$
25

 
 
 
Federal Natl Mtg Assn
 
 
Pool 888366 FN 04/37 Fixed Var
 
550,019

 
637

 
643

 
 
 
Federal Natl Mtg Assn
 
 
Pool 888631 FN 08/22 Fixed Var
 
46,174

 
51

 
48

 
 
 
Federal Natl Mtg Assn
 
 
Pool 888891 FN 11/37 Fixed Var
 
36,314

 
41

 
41

 
 
 
Federal Natl Mtg Assn
 
 
Pool 888956 FN 03/36 Fixed Var
 
102,282

 
114

 
115

 
 
 
Federal Natl Mtg Assn
 
 
Pool 889390 FN 03/23 Fixed Var
 
61,287

 
67

 
65

 
 
 
Federal Natl Mtg Assn
 
 
Pool 889886 FN 12/37 Fixed Var
 
50,720

 
59

 
57

 
 
 
Federal Natl Mtg Assn
 
 
Pool 907860 FN 02/37 Floating Var
 
49,893

 
54

 
53

 
 
 
Federal Natl Mtg Assn
 
 
Pool 936482 FN 09/21 Fixed 6.000%
 
17,681

 
19

 
18

 
 
 
Federal Natl Mtg Assn
 
 
Pool 995005 FN 10/38 Floating Var
 
36,786

 
40

 
39

 
 
 
Federal Natl Mtg Assn
 
 
Pool 995212 FN 05/36 Fixed Var
 
110,425

 
123

 
125

 
 
 
Federal Natl Mtg Assn
 
 
Pool 995405 FN 10/23 Fixed Var
 
106,104

 
115

 
112

 
 
 
Federal Natl Mtg Assn
 
 
Pool 995487 FN 08/37 Fixed Var
 
31,456

 
35

 
36

 
 
 
Federal Natl Mtg Assn
 
 
Pool 995575 FN 09/36 Fixed Var
 
25,106

 
28

 
28

 
 
 
Federal Natl Mtg Assn
 
 
Pool 995597 FN 03/24 Fixed Var
 
24,000

 
26

 
25

 
 
 
Federal Natl Mtg Assn
 
 
Pool 995694 FN 12/38 Fixed Var
 
20,595

 
23

 
23

 
 
 
Federal Natl Mtg Assn
 
 
Pool 995788 FN 09/36 Fixed Var
 
404,073

 
444

 
447

 
 
 
Federal Natl Mtg Assn
 
 
Pool AB1763 FN 11/30 Fixed 4.000%
 
349,464

 
372

 
368

 
 
 
Federal Natl Mtg Assn
 
 
Pool AD0198 FN 09/38 Fixed Var
 
156,821

 
172

 
174

 
 
 
Federal Natl Mtg Assn
 
 
Pool AD0249 FN 04/37 Fixed Var
 
193,323

 
213

 
214

 
 
 
Federal Natl Mtg Assn
 
 
Pool AD0284 FN 01/24 Fixed Var
 
39,800

 
43

 
41

 
 
 
Federal Natl Mtg Assn
 
 
Pool AD0494 FN 08/37 Fixed Var
 
29,054

 
32

 
32

 
 
 
Federal Natl Mtg Assn
 
 
Pool AD0650 FN 09/39 Fixed Var
 
31,039

 
34

 
34

 
 
 
Federal Natl Mtg Assn
 
 
Pool AD0663 FN 06/36 Fixed Var
 
149,711

 
165

 
166

 
 
 
Federal Natl Mtg Assn
 
 
Pool AD0931 FN 07/35 Fixed Var
 
48,890

 
54

 
54

 
 
 
Federal Natl Mtg Assn
 
 
Pool AE0012 FN 09/38 Fixed Var
 
111,236

 
126

 
128

 
 
 
Federal Natl Mtg Assn
 
 
Pool AE0379 FN 08/24 Fixed Var
 
23,170

 
25

 
24

 
 
 
Federal Natl Mtg Assn
 
 
Pool AE0380 FN 10/24 Fixed Var
 
93,436

 
102

 
98

 
 
 
Federal Natl Mtg Assn
 
 
Pool AE0381 FN 12/24 Fixed Var
 
398,385

 
433

 
417

 
 
 
Federal Natl Mtg Assn
 
 
Pool AE0382 FN 10/24 Fixed Var
 
66,962

 
73

 
71

 
 
 
Federal Natl Mtg Assn
 
 
Pool AE0442 FN 01/39 Fixed Var
 
107,083

 
121

 
122

 
 
 
Federal Natl Mtg Assn
 
 
Pool AE0620 FN 05/24 Fixed Var
 
66,331

 
72

 
70

 
 
 
Federal Natl Mtg Assn
 
 
Pool AE0875 FN 01/25 Fixed Var
 
88,188

 
96

 
93

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL0144 FN 11/37 Floating Var
 
4,814

 
5

 
5

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL1043 FN 10/38 Floating Var
 
63,103

 
68

 
66

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL2439 FN 06/26 Fixed Var
 
263,035

 
286

 
275

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL4147 FN 01/25 Fixed Var
 
412,698

 
438

 
435

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL4165 FN 01/31 Fixed Var
 
3,014,694

 
3,226

 
3,221

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL4831 FN 02/44 Floating Var
 
1,015,092

 
1,051

 
1,055

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL4980 FN 02/44 Floating Var
 
487,573

 
505

 
498

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL5129 FN 04/44 Floating Var
 
1,205,536

 
1,243

 
1,247

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL5441 FN 09/41 Fixed Var
 
814,460

 
886

 
879

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL5749 FN 07/42 Fixed Var
 
1,055,996

 
1,145

 
1,132

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL5931 FN 09/28 Fixed Var
 
575,628

 
610

 
594

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL5957 FN 05/27 Fixed Var
 
1,350,934

 
1,452

 
1,407

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL5968 FN 10/44 Floating Var
 
1,884,636

 
1,940

 
1,915

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL6137 FN 07/21 Fixed Var
 
262,353

 
282

 
272

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL7205 FN 12/29 Fixed Var
 
805,680

 
849

 
832

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL7306 FN 09/42 Fixed Var
 
1,516,506

 
1,659

 
1,633

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL7384 FN 09/45 Fixed Var
 
818,641

 
898

 
882

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL8816 FN 09/45 Fixed Var
 
1,623,059

 
1,771

 
1,730

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL9063 FN 02/31 Fixed Var
 
1,720,106

 
1,826

 
1,777

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL9128 FN 02/46 Fixed Var
 
341,802

 
375

 
366

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL9407 FN 09/42 Fixed Var
 
465,712

 
512

 
499


- 20 -




CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
EIN 94-0890210 PLAN NO. 001
SCHEDULE H - PART IV, LINE 4(i) - SCHEDULE OF ASSETS HELD
DECEMBER 31, 2017
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (d)
 
 (e)
 
 
 
 
 
 
 Description of Investment Including
 
 
 
 
 
 
 
 
 Identity of Issue, Borrower,
 
 Maturity Date, Rate of Interest,
 
 Number of
 
 
 
 
 
 
 Lessor, or Similar Party
 
 Collateral, Par, or Maturity Value
 
 Shares / Units
 
Cost
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL9535 FN 11/46 Floating Var
 
2,182,924

 
$
2,202

 
$
2,184

 
 
 
Federal Natl Mtg Assn
 
 
Pool AL9781 FN 02/46 Fixed Var
 
1,580,586

 
1,704

 
1,693

 
 
 
Federal Natl Mtg Assn
 
 
Pool AO0810 FN 04/42 Floating Var
 
1,415,054

 
1,465

 
1,474

 
 
 
Federal Natl Mtg Assn
 
 
Pool AR6900 FN 03/43 Floating Var
 
882,221

 
901

 
883

 
 
 
Federal Natl Mtg Assn
 
 
Pool AS2666 FN 06/34 Fixed 4.000%
 
240,516

 
257

 
254

 
 
 
Federal Natl Mtg Assn
 
 
Pool AS9299 FN 03/37 Fixed 3.500%
 
1,000,132

 
1,032

 
1,037

 
 
 
Federal Natl Mtg Assn
 
 
Pool AT7040 FN 09/44 Floating Var
 
148,696

 
153

 
152

 
 
 
Federal Natl Mtg Assn
 
 
Pool AW4688 FN 05/44 Floating Var
 
613,599

 
632

 
624

 
 
 
Federal Natl Mtg Assn
 
 
Pool AX2197 FN 12/44 Floating Var
 
666,607

 
685

 
676

 
 
 
Federal Natl Mtg Assn
 
 
Pool BH9347 FN 10/47 Floating Var
 
1,794,677

 
1,831

 
1,822

 
 
 
Federal Natl Mtg Assn
 
 
Pool BM1357 FN 01/43 Fixed Var
 
1,410,926

 
1,529

 
1,512

 
 
 
Federal Natl Mtg Assn
 
 
Pool MA1814 FN 03/34 Fixed 4.000%
 
2,007,344

 
2,164

 
2,119

 
 
 
Federal Natl Mtg Assn
 
 
Pool MA2055 FN 10/34 Fixed 4.000%
 
1,572,995

 
1,683

 
1,660

 
 
 
Federal Natl Mtg Assn
 
 
Pool MA2141 FN 01/35 Fixed 4.000%
 
1,830,375

 
1,972

 
1,932

 
 
 
Federal Natl Mtg Assn
 
 
Pool MA2366 FN 08/35 Fixed 4.000%
 
1,066,524

 
1,149

 
1,126

 
 
 
Federal Natl Mtg Assn
 
 
Pool MA2962 FN 04/37 Fixed 3.500%
 
2,131,181

 
2,210

 
2,210

 
 
 
Federal Natl Mtg Assn
 
 
Pool MA3894 FN 09/31 Fixed 4.000%
 
702,636

 
749

 
741

 
 
 
Freddie Mac
 
 
Fhr 3312 AB
 
28,221

 
32

 
32

 
 
 
Freddie Mac
 
 
Fhr 4283 EW
 
683,785

 
760

 
728

 
 
 
Freddie Mac
 
 
Fhr 4319 MA
 
1,366,429

 
1,534

 
1,465

 
 
 
Government National Mortgage
 
 
A GNR 2017H17FQ
 
2,559,627

 
2,563

 
2,565

 
 
 
Vendee Mortgage Trust
 
 
Vende 1997 2 Z
 
68,754

 
82

 
79

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Total Mortgages
 
 
 
 
 
 
108,352

 
107,172

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 U.S. government securities
 
 
 
 
 
 
 
 
 
 
 
 
California St
 
 
Cas 03/40 Fixed 7.625%
 
785,000

 
1,030

 
1,228

 
 
 
California St
 
 
Cas 04/39 Fixed 7.550%
 
400,000

 
513

 
629

 
 
 
California St
 
 
Cas 10/19 Fixed 6.200%
 
195,000

 
231

 
209

 
 
 
California St
 
 
Cas 10/39 Fixed 7.300%
 
710,000

 
894

 
1,059

 
 
 
Illinois St
 
 
ILS 03/18 Fixed 5.665%
 
2,100,000

 
2,349

 
2,111

 
 
 
Illinois St
 
 
ILS 03/19 Fixed 5.887%
 
725,000

 
769

 
748

 
 
 
Illinois St
 
 
ILS 06/33 Fixed 5.100%
 
1,450,000

 
1,378

 
1,448

 
 
 
Illinois St
 
 
ILS 11/21 Dixed 5.000%
 
700,000

 
753

 
743

 
 
 
New Jersey St Turnpike Auth
 
 
NJSTRN 01/40 Fixed 7.414%
 
375,000

 
479

 
579

 
 
 
New Jersey St Turnpike Auth
 
 
NJSTRN 01/41 Fixed 7.102%
 
1,070,000

 
1,483

 
1,599

 
 
 
TSY INFL IX
 
 
N/B 04/20 0.125%
 
3,028,295

 
3,016

 
3,022

 
 
 
TSY INFL IX
 
 
N/B 04/21 0.125%
 
2,263,653

 
2,250

 
2,254

 
 
 
US Treasury
 
 
N/B 03/18 0.750%
 
7,000,000

 
6,976

 
6,989

 
 
 
US Treasury
 
 
N/B 05/19 1.250%
 
9,500,000

 
9,461

 
9,421

 
 
 
US Treasury
 
 
N/B 07/18 0.750%
 
500,000

 
501

 
498

 
 
 
US Treasury
 
 
N/B 07/20 1.500%
 
6,470,000

 
6,469

 
6,401

 
 
 
US Treasury
 
 
N/B 08/22 1.625%
 
4,000,000

 
3,989

 
3,901

 
 
 
US Treasury
 
 
N/B 08/24 1.875%
 
2,565,000

 
2,525

 
2,496

 
 
 
US Treasury
 
 
N/B 09/19 1.375%
 
8,000,000

 
7,983

 
7,931

 
 
 
US Treasury
 
 
N/B 11/18 1.000%
 
5,240,000

 
5,212

 
5,203

 
 
 
US Treasury
 
 
N/B 12/17 1.000%
 
7,500,000

 
7,497

 
7,500

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Total U.S. government securities
 
 
 
 
 
65,758

 
65,969

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Asset-backed securities
 
 
 
 
 
 
 
 
 
 
 
 
Small Business Administration
 
 
SBAP 2001 20L 1
 
12,687

 
14

 
13

 
 
 
Small Business Administration
 
 
SBAP 2005 20E 1
 
19,713

 
22

 
21

 
 
 
Small Business Administration
 
 
SBAP 2005 20G 1
 
19,338

 
21

 
20


- 21 -




CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
EIN 94-0890210 PLAN NO. 001
SCHEDULE H - PART IV, LINE 4(i) - SCHEDULE OF ASSETS HELD
DECEMBER 31, 2017
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (d)
 
 (e)
 
 
 
 
 
 
 Description of Investment Including
 
 
 
 
 
 
 
 
 Identity of Issue, Borrower,
 
 Maturity Date, Rate of Interest,
 
 Number of
 
 
 
 
 
 
 Lessor, or Similar Party
 
 Collateral, Par, or Maturity Value
 
 Shares / Units
 
Cost
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 
Small Business Administration
 
 
SBAP 2005 20I 1
 
26,683

 
$
30

 
$
28

 
 
 
Small Business Administration
 
 
SBAP 2006 20A 1
 
21,101

 
24

 
22

 
 
 
Small Business Administration
 
 
SBAP 2006 20C 1
 
34,850

 
40

 
37

 
 
 
Small Business Administration
 
 
SBAP 2006 20G 1
 
52,423

 
60

 
56

 
 
 
Small Business Administration
 
 
SBAP 2007 20A 1
 
36,708

 
41

 
39

 
 
 
Small Business Administration
 
 
SBAP 2007 20C 1
 
73,603

 
83

 
78

 
 
 
Small Business Administration
 
 
SBAP 2007 20D 1
 
68,640

 
78

 
73

 
 
 
Small Business Administration
 
 
SBAP 2007 20G 1
 
40,283

 
46

 
42

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Assets
 
 
 
 
 
 
459

 
429

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash Equivalents
 
 
 
 
 
 
 
 
 
 
 
 
State Street Bank & Trust Co
 
 Short Term Investment Fund
 
10,059,554

 
10,060

 
10,060

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Receivables
 
 
 
 
 
 
 
 
2,193

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
(211
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL SEPARATE ACCOUNT
 
 
 
 
 
 
 
301,546

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL INVESTMENTS PER FINANCIAL STATEMENTS
 
 
 
 
 
19,801,548

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PARTICIPANT LOANS
 
 
 Interest rates ranging from 2.23% to 9.50%
 
 
 
136,977

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL INVESTMENTS PER FORM 5500
 
 
 
 
 
 
 
$
19,938,525

 
 
 
 
 
 
 
 
 
 
 
 
 
   * Party-in-interest as defined by ERISA.
 
 
 
 
 
 
 
 
 


- 22 -





SIGNATURES

        
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
                    
 
CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
 
 
Date    June 27, 2018                
 /s/ Christine L. Cavallo                                
 
Chevron Corporation, Plan Administrator
 
By: Christine L. Cavallo
        Assistant Secretary and Managing Counsel
        Chevron Corporation
                                






EXHIBIT INDEX

Exhibit
No.
 
Description
 
 
 
23.1