CVX · 10-Q · 2026Q3 · Full report

Liquidity and Debt Position

CHEVRON CORP · 2026-11-05 · Importance 63 · Surprise 64

Cash, cash equivalents and marketable securities totaled $12.8 billion at September 30, 2026, compared with $6.3 billion at year-end 2025. Total debt and finance lease liabilities declined to $33.5 billion from $40.8 billion, primarily due to maturing notes, a finance lease repayment and lower commercial paper balances. Commercial paper outstanding was $808 million, down from $4.6 billion, and Chevron had $11.4 billion of committed 364-day credit facilities with no borrowings outstanding. Chevron’s obligations were rated AA- by S&P and Aa2 by Moody’s, both investment-grade ratings.

Key facts

Chevron total debt and finance lease liabilities were $33.5 billion at September 30, 2026, down from $40.8 billion at December 31, 2025, primarily due to maturities, a finance lease repayment and lower commercial paper balances. source
At September 30, 2026, Chevron had short-term debt of $0.7 billion and long-term debt of $32.8 billion, totaling $33.5 billion in debt. source
Chevron had $11.4 billion in 364-day committed credit facilities at September 30, 2026, and had no borrowings outstanding under them. source
At September 30, 2026, Chevron had $12.8 billion of cash and cash equivalents, time deposits, and marketable securities. source
Chevron cash, cash equivalents and marketable securities totaled $12.8 billion at September 30, 2026, versus $6.3 billion at year-end 2025. source
Chevron commercial paper outstanding was $808 million at September 30, 2026, versus $4.6 billion at December 31, 2025. source
Chevron debt and finance lease liabilities due within one year totaled $9.6 billion at September 30, 2026, versus $10.9 billion at December 31, 2025; $8.9 billion and $9.9 billion, respectively, were reclassified to long-term debt. source
Chevron interest and debt expense increased for the first nine months of 2026 mainly due to higher average debt balances, including debt assumed from Hess. source