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, 2018
 
 
 
 
 
 
 
 
 
 
 
 
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, 2018 AND 2017

























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, 2018 and 2017
 
3

 
Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2018
 
4

 
Notes to Financial Statements    
 
5 - 13

Supplemental Schedule:
 
 
 
 
 
 
 
Schedule H - Part IV, Line 4(i) - Schedule of Assets Held as of December 31, 2018
 
14 - 21

 
 
 
 


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, 2018 and 2017, and the related statement of changes in net assets available for benefits for the year ended December 31, 2018, and the related notes (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, 2018 and 2017, and the changes in net assets available for benefits for the year ended December 31, 2018, 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.

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, 2018 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 24, 2019


- 2 -


CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 2018 AND 2017
(thousands of dollars)
 
 
 
2018
 
2017
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments - at fair value:
 
 
 
 
 
 
Chevron Corporation common stock
$
6,391,667

 
$
7,953,209

 
Registered investment companies
 
4,613,893

 
 
5,023,427

 
Fidelity BrokerageLink
 
253,655

 
 

 
Vanguard Brokerage Option
 

 
 
261,412

 
Collective investment funds
 
5,130,231

 
 
6,261,954

 
Separate Account
 
435,223

 
 
301,546

 
 
Total investments
 
16,824,669

 
 
19,801,548

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Notes receivable from participants
 
113,659

 
 
136,977

 
Due from broker for securities sold
 
549

 
 

 
 
 
 


 
 


 
 
Total assets
 
16,938,877

 
 
19,938,525

 
 
 
 
 
 
 
 
Liabilities
 

 
 

 
 
 
 
 
 
 
 
Net assets available for benefits
$
16,938,877

 
$
19,938,525

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, 2018
(thousands of dollars)

Additions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Contributions:
 
 
 
 
 
 
 
 
 
Employer contributions
 
 
 
 
 
$
269,216

 
 
Participant contributions
 
 
 
 
 
 
333,565

 
 
Participant rollovers
 
 
 
 
 
 
167,585

 
 
 
Total contributions
 
 
 
 
 
 
770,366

 
 
 
 
 
 
 
 
 
 
 
 
Investment income (loss)
 
 
 
 
 
 
 
 
 
Net depreciation in fair value of investments
 
 
(1,783,332
)
 
 
Dividends
 
 
 
 
 
 
480,631

 
 
Interest
 
 
 
 
 
 
15,877

 
 
 
Total investment loss
 
 
 
 
 
 
(1,286,824
)
 
 
 
 
 
 
 
 
 
 
 
 
Interest on notes receivable from participants
 
 
 
 
 
3,609

 
 
 
 
 
 
 
 
 
 
 
 
Total additions - net
 
 
 
 
 
 
(512,849
)
 
 
 
 
 
 
 
 
 
 
 
Deductions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Distribution to participants
 
 
 
 
 
 
2,484,008

 
Administrative fees
 
 
 
 
 
 
2,791

 
 
 
 
 
 
 
 
 
 
Total deductions
 
 
 
 
 
 
2,486,799

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net decrease
 
 
 
 
 
 
(2,999,648
)
 
 
 
 
 
 
 
 
 
 
 
Net assets available for benefits:
 
 
 
 
 
 
 
 
Beginning of year
 
 
 
 
 
 
19,938,525

 
 
 
 
 
 
 
 
 
 
 
 
End of year
 
 
 
 
 
$
16,938,877

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

- 4 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017


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 2018, the maximum contribution amount on a before-tax and Roth 401(k) basis was the annual Code limit of $18,500 for participants under age 50, and $24,500 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 $275,000 for the year 2018.

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.

- 5 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017


NOTE 1 - Description of the Plan (Continued)

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.

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 . Effective January 1, 2018, Fidelity Management Trust Company and Fidelity Workplace Services, LLC became the trustee and the recordkeeper, respectively (collectively referred herein as Fidelity). Vanguard Fiduciary Trust Company and Vanguard Group Inc. (collectively referred herein as Vanguard) were the trustee and recordkeeper, respectively, prior to January 1, 2018. Fidelity also performs the custodial and administrator functions for the Dodge & Cox Income Separate Account (Separate Account). State Street Bank and Trust Company performed custodial and administrator functions prior to January 1, 2018. The trustee has the authority to manage the assets of the Plan in accordance with the terms of the service agreements.

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 2018 and 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 $113,659,420 and $136,976,666 as of December 31, 2018 and 2017, 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, 2018 AND 2017


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 or Interest Credit Account 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

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. Effective January 1, 2018, the valuation of the underlying securities in Fidelity Brokerage Link are determined by Fidelity Brokerage Service (Vanguard Brokerage Service for the underlying securities in Vanguard Brokerage Option prior to January1, 2018) daily.

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

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.



- 7 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017


NOTE 2 - Summary of Significant Accounting Policies (Continued)

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.

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.


- 8 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017


NOTE 3 - Fair Value Measurements (Continued)

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, 2018 and 2017.

Common and preferred stocks 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.
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.
Mortgages are valued on the basis of their future principal and interest payments discounted at prevailing interest rates for similar investments.
U.S. government securities are valued at the closing price reported in the active market in which the individual security is traded.
Asset-backed securities are priced based on a compilation of primarily observable market information.
Cash equivalents are valued at cost, which approximates fair value.
Investments in Fidelity BrokerageLink effective January 1, 2018 (Vanguard Brokerage Option prior to January 1, 2018) hold shares of registered investment companies.

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, 2018 AND 2017


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, 2018 and 2017:

 
Investments at Fair Value (in thousands) as of December 31, 2018
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
Common stocks
$
6,391,667

 
$

 
$

 
$
6,391,667

Registered investment companies
4,613,893

 

 

 
4,613,893

Fidelity BrokerageLink
253,655

 

 

 
253,655

Collective investment funds

 
5,130,231

 

 
5,130,231

Separate Account:
 
 
 
 
 
 
 
   Preferred stock

 
4,277

 

 
4,277

   Corporate bonds

 
177,500

 

 
177,500

   Mortgages

 
156,534

 

 
156,534

   U.S. government securities

 
66,079

 

 
66,079

   Asset-backed securities

 
22,559

 

 
22,559

   Cash equivalents

 
6,340

 

 
6,340

   Receivables

 
3,783

 

 
3,783

   Liabilities

 
(1,849
)
 

 
(1,849
)
 

 
435,223

 

 
435,223

 
 
 
 
 
 
 
 
Total investments, at fair value
$
11,259,215

 
$
5,565,454

 
$

 
$
16,824,669

 
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


- 10 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017


NOTE 4 - Investments

At December 31, 2018 and 2017, 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 Federal Money Market Fund
 
Money Market
Vanguard Institutional Total Bond Market Index Trust
 
Fixed Income
Vanguard Short-Term Bond Index Fund
 
Fixed Income
Vanguard Institutional 500 Index Trust
 
Large-Cap Stock
Vanguard Institutional Total Stock Market Index Trust
 
Growth and Income 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 Index Fund
 
Fixed Income

Target Date Retirement Funds
Fund Name
 
Fund Type
Vanguard Target Retirement 2010 Trust Select ***
 
Balanced
Vanguard Target Retirement Income Trust Select
 
Balanced
Vanguard Target Retirement 2015 Trust Plus
 
Balanced
Vanguard Target Retirement 2020 Trust Plus
 
Balanced
Vanguard Target Retirement 2025 Trust Plus
 
Balanced
Vanguard Target Retirement 2030 Trust Plus
 
Balanced
Vanguard Target Retirement 2035 Trust Plus
 
Balanced
Vanguard Target Retirement 2040 Trust Plus
 
Balanced
Vanguard Target Retirement 2045 Trust Plus
 
Balanced
Vanguard Target Retirement 2050 Trust Plus
 
Balanced
Vanguard Target Retirement 2055 Trust Plus
 
Balanced
Vanguard Target Retirement 2060 Trust Plus
 
Balanced
Vanguard Target Retirement 2065 Trust Plus
 
Balanced

*** Merged into Vanguard Target Retirement Income Trust Select effective June 30, 2018

- 11 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017


NOTE 4 - Investments (Continued)

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

Fidelity BrokerageLink

Effective January 1, 2018 through the Fidelity Brokerage Services, LLC (previously for Vanguard Brokerage Option through Vanguard Group Inc. prior to January 1, 2018), a participant may choose from approximately 10,000 mutual funds from Fidelity and other companies, and Exchange-Traded Funds that are not included in the core or supplemental investment funds. There is a no annual fee charged to participants who use this option. Within each fund offered in the Fidelity Brokerage Link, additional fees may be charged, either accrued within a fund’s pooled price or charged directly on deposits or withdrawals depending upon the investment.

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. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. Subsequent to this issuance of the determination letter, the Plan was restated and amended. The Corporation believes the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan, as restated and amended, is qualified and the related trust is tax exempt.

The Corporation has reviewed the Plan’s administrative procedures and is of the opinion that they are in accordance with technical compliance requirements of ERISA.

GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain tax position that would not meet the more likely than not standard and be-sustained upon examination by the IRS.  The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2018, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions. The Plan administrator believes it is no longer subject to income tax examinations for years prior to 2015.





- 12 -



CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2018 AND 2017



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 Transactions

Certain Plan investments consist of Separate Account managed by Fidelity effective January 1, 2018 (Vanguard prior to January 1, 2018) and shares of common stock of the Corporation. Transactions with Fidelity, as the trustee and recordkeeper effective January 1, 2018 (Vanguard prior to January 1, 2018), and the Corporation as the Plan Sponsor and Plan Administrator, qualify as party-in-interest 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 sought to recover for the Plan losses allegedly incurred as a result of purportedly excessive administrative and investment fees and imprudent investment options. Chevron denied the plaintiffs’ allegations and filed a motion to dismiss the complaint. The complaint was dismissed with prejudice by the trial court. The plaintiffs appealed to the Ninth Circuit Court of Appeals and the Ninth Circuit affirmed the dismissal. On April 3, 2019, the Plaintiffs filed a petition for certiorari with the Supreme Court. On May 28, 2019, the Supreme Court denied Plaintiffs’ petition for writ of certiorari. The amount at issue, if any, has yet to be determined with certainty.

- 13 -


CHEVRON EMPLOYEE SAVINGS INVESTMENT PLAN
EIN 94-0890210 PLAN NO. 001
SCHEDULE H - PART IV, LINE 4(i) - SCHEDULE OF ASSETS HELD
DECEMBER 31, 2018
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (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
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 

 
 
 COMMON STOCK
 
 
 
 
 
 
 
 *
 
 Chevron Corporation
 
 
 Common Stock
 
58,752,025

 
$
6,391,667

 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL COMMON STOCK
 
 
 
 
 
6,391,667

 
 
 
 
 
 
 
 
 
 
 
 
 
 REGISTERED INVESTMENT COMPANIES
 
 
 
 
 
 
 *
 
VANGUARD PRIMECAP FUND
 
 
 
10,282,516

 
1,243,670

 *
 
VANGUARD FEDERAL MONEY MARKET FUND
 
 
 
1,001,168,543

 
1,001,169

 *
 
VANGUARD DEVELOPED MARKETS INDEX FUND
 
26,306,479

 
492,457

 *
 
VANGUARD WINDSOR II FUND
 
 
 
11,416,710

 
630,202

 *
 
VANGUARD SHORT-TERM BOND INDEX FUND
 
22,284,030

 
229,748

 *
 
VANGUARD SMALL CAP INDEX FUND
 
 
 
1,599,935

 
291,972

 *
 
VANGUARD REIT INDEX FUND
 
 
 
5,275,197

 
86,302

 *
 
VANGUARD EMERGING MARKET STOCK INDEX FUND
 
2,019,281

 
162,209

 *
 
VANGUARD WORLD STOCK INDEX FUND
 
 
 
821,909

 
109,832

 *
   
AMERICAN FUNDS EUROPACIFIC GROWTH FUND
 
8,142,504

 
366,332

 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL REGISTERED INVESTMENT COMPANIES
 
 
 
4,613,893

 
 
 
 
 
 
 
 
 
 
 
 *
 
VANGUARD BROKERAGE OPTION
 
 
 
 
 
253,655

 
 
 
 
 
 
 
 
 
 
 
 
 
COLLECTIVE INVESTMENT FUNDS
 
 
 
 
 
 
 *
 
VANGUARD INSTITUTIONAL 500 INDEX TRUST
 
12,708,339

 
1,674,959

 *
 
VANGUARD INSTITUTIONAL TOTAL BOND MARKET INDEX TRUST
 
8,065,232

 
812,411

 *
 
VANGUARD INSTITUTIONAL EXTENDED MARKET TRUST
 
6,554,704

 
841,493

 *
 
VANGUARD INSTITUTIONAL TOTAL STOCK MARKET INDEX TRUST
 
4,447,918

 
584,234

 *
 
VANGUARD TARGET DATE RETIREMENT TRUST SELECT
 
1,763,461

 
58,582

 *
 
VANGUARD TARGET DATE RETIREMENT TRUST 2015 SELECT
 
2,673,290

 
89,983

 *
 
VANGUARD TARGET DATE RETIREMENT TRUST 2020 SELECT
 
7,482,841

 
254,716

 *
 
VANGUARD TARGET DATE RETIREMENT TRUST 2025 SELECT
 
6,911,374

 
236,645

 *
 
VANGUARD TARGET DATE RETIREMENT TRUST 2030 SELECT
 
3,914,877

 
134,476

 *
 
VANGUARD TARGET DATE RETIREMENT TRUST 2035 SELECT
 
3,018,231

 
104,038

 *
 
VANGUARD TARGET DATE RETIREMENT TRUST 2040 SELECT
 
2,540,716

 
87,731

 *
 
VANGUARD TARGET DATE RETIREMENT TRUST 2045 SELECT
 
2,499,649

 
86,363

 *
 
VANGUARD TARGET DATE RETIREMENT TRUST 2050 SELECT
 
1,623,702

 
56,083

 *
 
VANGUARD TARGET DATE RETIREMENT TRUST 2055 SELECT
 
711,642

 
24,566

 *
 
VANGUARD TARGET DATE RETIREMENT TRUST 2060 SELECT
 
399,087

 
13,784

 *
 
VANGUARD TARGET DATE RETIREMENT TRUST 2065 SELECT
 
145,489

 
3,020

 *
 
SSGA INFLATION PROTECTED BOND FUND
 
4,947,011

 
67,147

 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL COLLECTIVE INVESTMENT FUNDS
 
 
 
5,130,231

 
 
 
 
 
 
 
 
 
 
 
 
 
SEPARATE ACCOUNT
 
 
 
 
 
 
 
 
 
PREFERRED STOCK
 
 
 
 
 
 
 
 
 
 
CITIGROUP
 
 
CAPITAL XIII PREFERRED STOCK
 
161,450

 
4,277

 
 
 
 
 
 
 
 
 
 
 
 
 
CORPORATE BONDS
 
 
 
 
 
 
 
 
 
 
21ST CENTY FOX AMER INC
 
 
 6.150% 03/01/2037
 
379,796

 
356

 
 
 
21ST CENTY FOX AMER INC
 
 
 6.200% 12/15/2034
 
90,394

 
85

 
 
 
21ST CENTY FOX AMER INC
 
 
 6.400% 12/15/2035
 
378,752

 
356

 
 
 
21ST CENTY FOX AMER INC
 
 
 6.650% 11/15/2037
 
1,028,404

 
1,028

 
 
 
AT&T INC
 
 
 4.500% 03/09/2048
 
3,422,690

 
3,190

 
 
 
AT&T INC
 
 
 4.750% 05/15/2046
 
464,572

 
423

 
 
 
AT&T INC
 
 
 5.350% 09/01/2040
 
590,964

 
545

 
 
 
AT&T INC
 
 
 5.650% 02/15/2047
 
519,847

 
475

 
 
 
AT&T INC
 
 
 8.750% 11/15/2031
 
1,138,903

 
1,088

 
 
 
BA CR CARD
 
 
 TR 2.700% 07/17/2023
 
1,715,763

 
1,710

 
 
 
BANK AMER FDG CORP
 
 
 4.200% 08/26/2024
 
421,228

 
397

 
 
 
BANK AMER FDG CORP
 
 
 4.250% 10/22/2026
 
2,071,446

 
1,971

 
 
 
 
 
 
 
 
 
 
 

- 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, 2018
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (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
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 

 
 
 
BANK OF AMERICA CORP
 
 
 3.004% VAR 12/20/2023
 
3,413,368

 
$
3,330

 
 
 
BANKONE
 
 
 8.750% 09/01/2030
 
661,818

 
589

 
 
 
BARCLAYS
 
 
 PLC (UNGTD) 4.375% 09/11/2024
 
1,101,498

 
1,015

 
 
 
BARCLAYS
 
 
 PLC (UNGTD) 4.836% 05/09/2028
 
1,130,033

 
1,032

 
 
 
BAYER US
 
 
 3.875% 12/15/2023 144A
 
647,881

 
638

 
 
 
BAYER US
 
 
 4.375% 12/15/2028 144A
 
1,521,653

 
1,457

 
 
 
BAYER US
 
 
 FIN 4.250% 12/2025 144A
 
698,677

 
682

 
 
 
BNP PARIBAS
 
 
 4.250% 10/15/2024
 
2,982,396

 
2,793

 
 
 
BNP PARIBAS
 
 
 4.375% 05/12/2026 144A
 
2,027,496

 
1,926

 
 
 
BNP PARIBAS
 
 
 4.375% 09/28/2025 144A
 
705,316

 
656

 
 
 
BNP PARIBAS/US MTN SR PRG LLC
 
 
 4.625% 03/13/2027 14
 
1,348,956

 
1,287

 
 
 
BNSF RAILWAY CO
 
 
 5.996% 04/01/2024
 
338,263

 
328

 
 
 
BNSF RAILWAY CO
 
 
 06-2 5.629% 04/01/2024
 
154,147

 
152

 
 
 
BNSF RAILWAY CO
 
 
 3.442% 06/2028 144A
 
1,274,644

 
1,274

 
 
 
BOSTON PPTYS LTD MTN
 
 
 4.125% 05/2021
 
998,123

 
968

 
 
 
BOSTON PPTYS LTD PARTNERSHIP
 
 
 3.650% 02/01/2026
 
1,392,916

 
1,356

 
 
 
BOSTON PRP LTD
 
 
 5.625% 11/15/2020
 
589,439

 
565

 
 
 
BURLINGTON NO
 
 
 99-2 7.570% 01/02/2021
 
28,803

 
28

 
 
 
BURLINGTON NO
 
 
 SF 5.720% 01/15/2024
 
121,684

 
120

 
 
 
BURLINGTON NO
 
 
 3.050% 09/01/2022
 
586,306

 
571

 
 
 
BURLINGTON NO
 
 
 3.850% 09/01/2023
 
502,172

 
488

 
 
 
CAPITAL ONE FINANCIAL CORP
 
 
 3.500% 06/2023 WI
 
1,399,093

 
1,350

 
 
 
CAPITAL ONE FINANCIAL CORP
 
 
 4.200% 10/29/2025
 
1,147,388

 
1,111

 
 
 
CEMEX FIN LLC
 
 
 6.000% 04/01/2024 144A
 
1,552,438

 
1,466

 
 
 
CEMEX SAB DE CV
 
 
 6.125% 05/05/2025 144A
 
2,997,400

 
2,755

 
 
 
CHARTER COMM OPER LLC/CAP CORP
 
 
 4.908% 07/23/2025
 
744,230

 
696

 
 
 
CHARTER COMM OPER LLC/CAP CORP
 
 
 5.375% 05/01/2047
 
897,181

 
794

 
 
 
CHARTER COMM OPER LLC/CAP CORP
 
 
 6.484% 10/23/2045
 
5,798,058

 
5,372

 
 
 
CIGNA CORP
 
 
 7.650% 03/01/2023
 
326,279

 
311

 
 
 
CIGNA CORP
 
 
 7.875% 05/15/2027
 
315,739

 
288

 
 
 
CITIBANK CR CARD ISSUANCE
 
 
 TR 2017-A3 A3 1.920% 04/0
 
1,799,762

 
1,807

 
 
 
COMCAST CORP
 
 
 4.000% 10/15/2025
 
422,569

 
430

 
 
 
COMCAST CORP
 
 
 NEW 3.969% 11/01/2047
 
1,105,088

 
1,119

 
 
 
COX COMM
 
 
 3.350% 09/15/2026 144A
 
2,995,620

 
2,908

 
 
 
COX COMMUN
 
 
 3.500% 08/15/2027 144A
 
1,479,527

 
1,384

 
 
 
COX COMMUNICT INC
 
 
 3.850% 02/01/2025
 
1,432,625

 
1,380

 
 
 
CRH AMER INC
 
 
 3.875% 05/18/2025 144A
 
2,276,082

 
2,139

 
 
 
CSX TRANS
 
 
 9.750% 06/15/2020
 
116,837

 
109

 
 
 
CSX TRANSN INC
 
 
 6.251% 01/15/2023
 
130,538

 
124

 
 
 
CVS HEALTH CORP
 
 
 3.700% 03/09/2023
 
1,412,232

 
1,410

 
 
 
CVS HEALTH CORP
 
 
 4.100% 03/25/2025
 
445,595

 
446

 
 
 
CVS HEALTH CORP
 
 
 4.300% 03/25/2028
 
1,013,024

 
1,004

 
 
 
CVS HEALTH CORP
 
 
 4.780% 03/25/2038
 
514,574

 
504

 
 
 
DIAMOND 1 FINANCE CORP
 
 
 DIAMOND 2 FINANCE CORP
 
1,512,895

 
1,425

 
 
 
DILLARD DEP
 
 
 7.750% 05/15/2027
 
144,194

 
135

 
 
 
DILLARD DEP
 
 
 7.750% 07/15/2026
 
239,506

 
226

 
 
 
DILLARDS INC
 
 
 7.000% 12/01/2028
 
308,349

 
288

 
 
 
DOMINION ENERGY INC
 
 
 2.579% 07/01/2020
 
325,136

 
320

 
 
 
DOMINION RESOURCE INC
 
 
 5.750% VAR 10/01/2054
 
2,219,438

 
2,072

 
 
 
DOMINION RESOURCE INC
 
 
 VA NEW STEP 04/01/2021
 
416,260

 
403

 
 
 
DOW CHEMICAL
 
 
 7.375% 11/01/2029
 
640,134

 
586

 
 
 
DOW CHEMICAL
 
 
 9.400% 05/01/2039
 
2,851,761

 
2,461

 
 
 
ELANCO ANIMAL HEALTH INC
 
 
 3.912% 08/27/2021 144A
 
250,000

 
252

 
 
 
ELANCO ANIMAL HEALTH INC
 
 
 4.272% 08/28/2023 144A
 
250,000

 
250

 
 
 
ELANCO ANIMAL HEALTH INC
 
 
 4.900% 08/28/2028 144A
 
580,142

 
585

 
 
 
ENEL FIN INTL
 
 
 6.000% 10/07/2039 144A
 
1,688,665

 
1,389

 
 
 
ENEL FIN INTL
 
 
 6.800% 09/15/2037 144A
 
1,738,470

 
1,397

 
 
 
ERP OPER LP
 
 
 3.000% 04/15/2023
 
632,350

 
615

 
 
 
ERP OPERAT LP
 
 
 2.850% 11/01/2026
 
825,423

 
823


- 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, 2018
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (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
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 

 
 
 
ERP OPERAT LP
 
 
 4.625% 12/15/2021
 
774,439

 
$
748

 
 
 
FED EXPRESS
 
 
 98-1A 6.72 07/15/2023
 
108,674

 
105

 
 
 
FORD MTR CR
 
 
 3.813% 10/12/2021
 
900,000

 
874

 
 
 
FORD MTR CR CO
 
 
 2.681% 01/09/2020
 
651,568

 
639

 
 
 
FORD MTR CR CO
 
 
 4.140% 02/15/2023
 
1,033,085

 
998

 
 
 
FORD MTR CR LLC
 
 
 4.375% 08/06/2023
 
431,447

 
426

 
 
 
FORD MTR CR LLC
 
 
 5.875% 08/02/2021
 
3,586,091

 
3,384

 
 
 
FORD MTR CR LLC
 
 
 8.125% 01/15/2020
 
332,316

 
311

 
 
 
GSBA
 
 
 5.780% 12/01/2021
 
7,784

 
8

 
 
 
HALFMOON PARENT INC
 
 
 3.750% 07/15/2023 144A
 
2,246,834

 
2,242

 
 
 
HALFMOON PARENT INC
 
 
 4.125% 11/15/2025 144A
 
424,647

 
425

 
 
 
HALFMOON PARENT INC
 
 
 4.375% 10/15/2028 144A
 
973,703

 
981

 
 
 
HSBC HOLDINGS
 
 
 PLC 2.650% 01/05/2022
 
923,600

 
922

 
 
 
HSBC HOLDINGS
 
 
 PLC 3.600% 05/25/2023
 
1,247,192

 
1,268

 
 
 
HSBC HOLDINGS
 
 
 PLC 4.300% 03/08/2026
 
425,272

 
395

 
 
 
HSBC HOLDINGS
 
 
 PLC 5.100% 04/05/2021
 
553,331

 
533

 
 
 
HSBC HOLDINGS
 
 
 PLC 6.500% 05/02/2036
 
2,035,920

 
1,777

 
 
 
HSBC HOLDINGS
 
 
 PLC 6.500% 09/15/2037
 
2,795,963

 
2,496

 
 
 
IMPERIAL TOBACCO FINANCE
 
 
 3.750% 07/21/2022 144A
 
1,007,567

 
967

 
 
 
IMPERIAL TOBACCO FINANCE
 
 
 4.250% 07/21/2025 144A
 
4,648,924

 
4,403

 
 
 
JPMORGAN CHASE & CO
 
 
 3.797% VAR 07/23/2024
 
2,080,159

 
2,079

 
 
 
JPMORGAN CHASE & CO
 
 
 3.875% 09/10/2024
 
886,654

 
838

 
 
 
JPMORGAN CHASE & CO
 
 
 4.250% 10/01/2027
 
1,841,145

 
1,748

 
 
 
KINDER MORG ERY
 
 
 PT 4.150% 02/2024
 
674,125

 
645

 
 
 
KINDER MORGAN ENERGY
 
 
 5.000% 03/01/2043
 
1,141,942

 
1,022

 
 
 
KINDER MORGAN INC
 
 
 DEL 5.550% 06/01/2045
 
2,107,002

 
1,983

 
 
 
KINDER MORGAN
 
 
 MTN 6.500% 09/01/2039
 
1,858,811

 
1,681

 
 
 
LLOYDS BANK
 
 
 PLC 4.500% 11/04/2024
 
1,516,219

 
1,395

 
 
 
LLOYDS BANK
 
 
 PLC 4.650% 03/2024/2026
 
1,449,503

 
1,317

 
 
 
LLOYDS BANKING GROUP
 
 
 PLC 4.050% 08/16/2023
 
1,074,656

 
1,062

 
 
 
LLOYDS BANKING GROUP
 
 
 PLC 4.582% 12/10/2025
 
507,050

 
474

 
 
 
MAY DEPT
 
 
 6.700% 07/15/2034
 
873,956

 
838

 
 
 
MYRIAD
 
 
 INT 4.850% 07/06/27 144A
 
1,250,564

 
1,149

 
 
 
MYRIAD
 
 
 INT 5.500% 07/21/2025 144A
 
3,126,250

 
2,919

 
 
 
MYRIAD
 
 
 INT HLDGS 6.000% 07/2020 144A
 
1,368,794

 
1,309

 
 
 
NEWS AMER INC
 
 
 6.150% 02/15/2041
 
391,624

 
367

 
 
 
NORDSTROM INC
 
 
 6.950% 03/15/2028
 
141,676

 
138

 
 
 
PEMEX
 
 
 6.350% 02/12/2048
 
1,897,200

 
1,547

 
 
 
PEMEX
 
 
 6.875% 08/04/2026
 
963,688

 
826

 
 
 
PEMEX
 
 
 PRO FDG 6.625% 06/15/2035
 
1,522,385

 
1,244

 
 
 
PETROBRAS GLOBA
 
 
 5.999% 01/27/2028
 
2,205,700

 
2,165

 
 
 
PETROLEOS MEXCNS
 
 
 6.750% 09/21/2047
 
544,375

 
537

 
 
 
PETROLEOS MEXICA
 
 
 6.500% 03/13/2027
 
2,473,820

 
2,162

 
 
 
PETROLEOS MEXN
 
 
 6.375% 01/23/2045
 
1,256,688

 
1,006

 
 
 
PROVIDENT COMPA
 
 
 7.250% 03/15/2028
 
307,602

 
288

 
 
 
REED ELSEVIE
 
 
 3.125% 10/2022
 
1,249,459

 
1,217

 
 
 
REED ELSEVIER
 
 
 C 8.625% 01/15/2019
 
291,537

 
275

 
 
 
RELX CAPITAL INC
 
 
 3.500% 03/16/2023
 
796,624

 
794

 
 
 
RIO OIL FIN
 
 
 TR 8.200% 04/06/2028 144A
 
1,200,000

 
1,257

 
 
 
RIO OIL FIN
 
 
 TR STEP 07/06/2024 144A
 
3,067,515

 
3,016

 
 
 
RIO OIL FIN
 
 
 TR VAR 01/06/2027 144A
 
1,935,758

 
1,961

 
 
 
ROYAL BK
 
 
 SC 6.000% 12/19/2023
 
1,211,564

 
1,113

 
 
 
ROYAL BK SCOTLND GRP
 
 
 PLC(UNGTD 6.120% 12/15/2022
 
4,578,145

 
4,307

 
 
 
TELECOM ITALI
 
 
 7.200% 07/18/2036
 
528,063

 
406

 
 
 
TELECOM ITALI
 
 
 7.721% 06/204/2038
 
1,598,688

 
1,266

 
 
 
TELECOM ITALIA
 
 
 CAP 7.175% 06/2019
 
1,936,781

 
1,838

 
 
 
TELECOM ITALIA
 
 
 SPA NEW 5.300% 05/30/2024 144A
 
1,781,794

 
1,686

 
 
 
TIME WARNER CAB
 
 
 8.750% 02/14/2019
 
357,186

 
337

 
 
 
TIME WARNER CAB INC
 
 
 4.000% 09/01/2021
 
782,754

 
755

 
 
 
 
 
 
 
 
 
 
 

- 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, 2018
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (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
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 

 
 
 
TIME WARNER CABLE
 
 
 5.000% 02/01/2020
 
83,489

 
$
81

 
 
 
TIME WARNER CABLE
 
 
 7.300% 07/01/2038
 
1,002,771

 
868

 
 
 
TRANSCANADA TRUST
 
 
 5.300% VAR 03/15/2077
 
2,461,513

 
2,072

 
 
 
TRANSCANADA TRUST
 
 
 5.625% VAR 05/20/2075
 
1,526,125

 
1,307

 
 
 
TRANSCANADA TRUST
 
 
 5.875% VAR 08/15/2076
 
487,125

 
423

 
 
 
TURLOCK CORP
 
 
 2.750% 11/02/2022
 
651,901

 
632

 
 
 
ULTRAPAR INTL
 
 
 5.250% 10/01/2026 144A
 
712,754

 
680

 
 
 
UNION PAC
 
 
 07-3 6.176% 01/02/2031
 
298,564

 
285

 
 
 
UNION PAC
 
 
 6 TR 5.866% 07/02/2030
 
357,547

 
344

 
 
 
UNITED TECHNOLOGIES CORP
 
 
 3.500% 08/16/2021
 
374,543

 
374

 
 
 
UNITED TECHNOLOGIES CORP
 
 
 3.650% 08/16/2023
 
1,349,879

 
1,345

 
 
 
UNUM CORP
 
 
 6.750% 12/15/2028
 
91,832

 
87

 
 
 
UNUM CORP
 
 
 MTN 7.190% 02/01/2028
 
132,229

 
128

 
 
 
VERIZON COMMUNICATIONS INC
 
 
 4.270% 01/15/2036
 
3,448,978

 
3,248

 
 
 
VERIZON COMMUNICATIONS INC
 
 
 5.012% 04/15/2049
 
3,399,837

 
3,293

 
 
 
WELLS FARGO & CO
 
 
 MTN 4.300% 07/2027
 
2,741,064

 
2,584

 
 
 
WELLS FARGO
 
 
 3ML 65 12/2019
 
908,395

 
902

 
 
 
WELLS FARGO
 
 
 BK 2.150% 12/06/2019
 
1,747,301

 
1,734

 
 
 
WELLS FARGO
 
 
 BK 3.550% 08/14/2023
 
2,125,854

 
2,117

 
 
 
WELLS FARGO CO
 
 
 NEW MTN SR NTS 4.100% 06/03/2026
 
676,323

 
659

 
 
 
XEROX CORP
 
 
 4.500% 05/15/2021
 
1,517,796

 
1,483

 
 
 
XEROX CORP
 
 
 5.625% 12/15/2019
 
699,316

 
670

 
 
 
ZOETIS INC
 
 
 3.250% 02/01/2023
 
1,064,917

 
1,057

 
 
 
ZOETIS INC
 
 
 3.450% 11/13/2020
 
460,626

 
451

 
 
 
ZOETIS INC
 
 
 4.500% 11/13/2025
 
844,664

 
794

 
 
 
 
 
 
 
 
 
 
 
 
 
 
   TOTAL CORPORATE BONDS
 
 
 
 
 
 
177,500

 
 
 
 
 
 
 
 
 
 
 
 
 
MORTGAGES
 
 
 
 
 
 
 
 
 
 
AMERICAN EXPRESS CR ACCT
 
 
 MS TR 2017-3 A 1.770% 11/1
 
1,090,536

 
1,084

 
 
 
FHLG
 
 
 15YR 5.000% 08/2023#J08788
 
190,154

 
188

 
 
 
FHLG
 
 
 15YR 5.500% 10/2020 #G12339
 
17,118

 
17

 
 
 
FHLG
 
 
 15YR 6.000% 11/2023 #G13338
 
22,523

 
22

 
 
 
FHLG
 
 
 15YR 6.000% 02/2022 #G12758
 
17,952

 
18

 
 
 
FHLG
 
 
 15YR 6.000% 03/2023 #G13346
 
20,474

 
20

 
 
 
FHLG
 
 
 15YR 6.000% 08/2021 #G12277
 
7,843

 
8

 
 
 
FHLG
 
 
 20YR 3.500% 10/2035#C91853
 
1,296,213

 
1,265

 
 
 
FHLG
 
 
 20YR 4.000% 11/01/2035#C91857
 
864,054

 
841

 
 
 
FHLG
 
 
 30YR 4.500% 02/2045#G60034
 
1,003,695

 
983

 
 
 
FHLG
 
 
 30YR 4.500% 03/2047#G61080
 
7,263,680

 
7,089

 
 
 
FHLG
 
 
 30YR 4.500% 03/2047#V83108
 
2,054,795

 
2,001

 
 
 
FHLG
 
 
 30YR 4.500% 04/2047#G08759
 
1,593,101

 
1,553

 
 
 
FHLG
 
 
 30YR 4.500% 04/2047#V83156
 
2,429,644

 
2,368

 
 
 
FHLG
 
 
 30YR 4.500% 05/2048#G08818
 
7,846,953

 
7,880

 
 
 
FHLG
 
 
 30YR 4.500% 06/2047#G08768
 
2,983,712

 
2,908

 
 
 
FHLG
 
 
 30YR 4.500% 06/2047#Q48869
 
2,082,627

 
2,030

 
 
 
FHLG
 
 
 30YR 4.500% 09/2041#G07568
 
1,223,918

 
1,200

 
 
 
FHLG
 
 
 30YR 4.500% 11/2043#G07596
 
684,726

 
663

 
 
 
FHLG
 
 
 5.500% 01/2035 #G01749
 
36,548

 
35

 
 
 
FHLG
 
 
 5.500% 01/2040 #G07074
 
889,273

 
863

 
 
 
FHLG
 
 
 5.500% 03/2034 #G01665
 
84,348

 
81

 
 
 
FHLG
 
 
 5.500% 07/2035 #G05862
 
56,505

 
54

 
 
 
FHLG
 
 
 6.000% 01/2038 #G06238
 
47,087

 
46

 
 
 
FHLG
 
 
 6.000% 01/2039 #G06932
 
556,699

 
547

 
 
 
FHLG
 
 
 6.000% 02/2035 #G01777
 
1,173,037

 
1,166

 
 
 
FHLG
 
 
 6.000% 02/2039 #G06570
 
64,377

 
64

 
 
 
FHLG
 
 
 6.000% 06/2038 #H09203
 
6,926

 
7

 
 
 
FHLG
 
 
 6.500% 10/2026 #G30305
 
21,119

 
21

 
 
 
FHLG
 
 
 6.500% 12/2032 #G01767
 
28,601

 
28


- 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, 2018
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (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
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 

 
 
 
FHLG
 
 
 6.500% 03/2038 #G04378
 
54,031

 
$
55

 
 
 
FHLG
 
 
 6.500% 09/2037 #H09070
 
3,511

 
4

 
 
 
FHLG
 
 
 7.000% 11/2038 #G05603
 
13,290

 
14

 
 
 
FHLM ARM
 
 
 0.000% 01/2045#849625
 
695,419

 
685

 
 
 
FHLM ARM
 
 
 0.000% 05/2044#2B2591
 
451,858

 
447

 
 
 
FHLM ARM
 
 
 0.000% 05/2045#840402
 
2,463,698

 
2,424

 
 
 
FHLM ARM
 
 
 0.000% 07/2038#1Q1400
 
240,495

 
239

 
 
 
FHLM ARM
 
 
 0.000% 08/2046#840380
 
962,076

 
946

 
 
 
FHLM ARM
 
 
 0.000% 09/2036#782735
 
144,762

 
146

 
 
 
FHLM ARM
 
 
 2.370% 01/2036 #1H2581
 
37,863

 
38

 
 
 
FHLM ARM
 
 
 2.370% 02/2034 #781274
 
34,294

 
34

 
 
 
FHLM ARM
 
 
 2.538% 01/2042#849254
 
334,462

 
332

 
 
 
FHLM ARM
 
 
 2.600% 03/2037 #1G2667
 
17,742

 
18

 
 
 
FHLM ARM
 
 
 2.740% 04/2036 #847671
 
21,768

 
22

 
 
 
FHLM ARM
 
 
 2.896% 02/2045#2B3797
 
616,830

 
607

 
 
 
FHLM ARM
 
 
 3.326% 09/2033 #1B1150
 
42,239

 
42

 
 
 
FHLM ARM
 
 
 4.910% 04/2038 #1Q0557
 
32,777

 
32

 
 
 
FHLM ARM
 
 
 4.930% 06/2038 #1Q0556
 
25,339

 
25

 
 
 
FHLM ARM
 
 
 5.090% 04/2038 #1Q0558
 
47,046

 
46

 
 
 
FHLM ARM
 
 
 5.230% 02/2038 #1Q0479
 
34,354

 
34

 
 
 
FHLM ARM
 
 
 5.310% 07/2037 #1G2080
 
37,697

 
38

 
 
 
FHLM ARM
 
 
 5.430% 10/2038 #848349
 
24,081

 
24

 
 
 
FHMS
 
 
 2016-K055 X1 VAR 03/2026
 
53,974

 
56

 
 
 
FHMS
 
 
 2017-K065 X1 CSTR 04/2027
 
124,749

 
128

 
 
 
FHMS
 
 
 2017-K067 X1 CSTR 07/2027
 
253,331

 
258

 
 
 
FHMS
 
 
 K056 X1 CSTR 05/2026
 
21,456

 
22

 
 
 
FHMS
 
 
 K057 X1 CSTR 07/2026
 
715,079

 
741

 
 
 
FHMS
 
 
 K066 X1 CSTR 06/2027
 
120,858

 
123

 
 
 
FHR
 
 
 2013-4283 EW VAR 12/2043
 
615,188

 
610

 
 
 
FHR
 
 
 2014-4319 MA VAR 03/2044
 
1,261,600

 
1,251

 
 
 
FHR
 
 
 3312 AB 6.500% 06/2032
 
25,690

 
25

 
 
 
FNMA
 
 
 15YR 3.500% 09/28#AL5931
 
459,038

 
451

 
 
 
FNMA
 
 
 15YR 3.500% 09/2031#AL9063
 
1,471,766

 
1,446

 
 
 
FNMA
 
 
 15YR 3.500% 12/01/29#AL7205
 
661,549

 
651

 
 
 
FNMA
 
 
 15YR 4.500% 09/28#AL4147
 
320,249

 
313

 
 
 
FNMA
 
 
 15YR 5.000% #AL2439
 
182,405

 
179

 
 
 
FNMA
 
 
 15YR 5.500% 01/2022 #888262
 
9,336

 
9

 
 
 
FNMA
 
 
 15YR 5.500% 01/2024 #AD0284
 
20,628

 
20

 
 
 
FNMA
 
 
 15YR 5.500% 01/2025 #AE0875
 
62,104

 
61

 
 
 
FNMA
 
 
 15YR 5.500% 10/2023 #995405
 
77,848

 
77

 
 
 
FNMA
 
 
 15YR 5.500% 10/2024 #AE0380
 
68,004

 
67

 
 
 
FNMA
 
 
 15YR 5.500% 10/2024 #AE0382
 
49,519

 
49

 
 
 
FNMA
 
 
 15YR 5.500% 12/2024 #AE0381
 
272,906

 
268

 
 
 
FNMA
 
 
 15YR 5.500% 03/2024 #995597
 
16,962

 
17

 
 
 
FNMA
 
 
 15YR 5.500% 05/2024 #AE0620
 
47,943

 
47

 
 
 
FNMA
 
 
 15YR 5.500% 08/2024 #AE0379
 
15,804

 
16

 
 
 
FNMA
 
 
 15YR 6.000% 12/2019 #735523
 
338

 

 
 
 
FNMA
 
 
 15YR 6.000% 12/2020 #745238
 
980

 
1

 
 
 
FNMA
 
 
 15YR 6.000% 12/2021 #888136
 
20,146

 
20

 
 
 
FNMA
 
 
 15YR 6.000% 02/2019 #725271
 
3

 

 
 
 
FNMA
 
 
 15YR 6.000% 03/2022 #888291
 
39,821

 
39

 
 
 
FNMA
 
 
 15YR 6.000% 03/2023 #889390
 
39,893

 
39

 
 
 
FNMA
 
 
 15YR 6.000% 04/2022 #888365
 
14,216

 
14

 
 
 
FNMA
 
 
 15YR 6.000% 08/2022 #888631
 
29,226

 
29

 
 
 
FNMA
 
 
 15YR 6.000% 09/2021 #936482
 
10,906

 
11

 
 
 
FNMA
 
 
 20YR 3.500% 03/2037#AS9299
 
938,316

 
916

 
 
 
FNMA
 
 
 20YR 3.500% 04/2037#MA2962
 
1,965,591

 
1,919

 
 
 
FNMA
 
 
 20YR 4.000% 01/2035#MA2141
 
1,581,016

 
1,543

 
 
 
FNMA
 
 
 20YR 4.000% 03/2034#MA1814
 
1,795,561

 
1,754


- 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, 2018
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (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
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 

 
 
 
FNMA
 
 
 20YR 4.000% 06/2034 #AS2666
 
235,370

 
$
230

 
 
 
FNMA
 
 
 20YR 4.000% 07/2035#MA2366
 
995,568

 
972

 
 
 
FNMA
 
 
 20YR 4.000% 09/2034 #MA2055
 
1,376,217

 
1,345

 
 
 
FNMA
 
 
 20YR 4.000% 11/01/2030 #AB1763
 
316,241

 
310

 
 
 
FNMA
 
 
 20YR 4.500% 10/2033 #AL4165
 
2,644,146

 
2,574

 
 
 
FNMA
 
 
 20YRS 4.000% 09/2031 #MA3894
 
626,932

 
614

 
 
 
FNMA
 
 
 30YR 4.000% 02/2047#BM3386
 
3,901,889

 
3,876

 
 
 
FNMA
 
 
 30YR 4.000% 03/2048#BK1955
 
3,666,400

 
3,660

 
 
 
FNMA
 
 
 30YR 4.000% 03/2048#BK1965
 
20,577,567

 
20,586

 
 
 
FNMA
 
 
 30YR 4.000% 10/2045#AZ4765
 
8,016,560

 
7,887

 
 
 
FNMA
 
 
 30YR 4.298% 07/2021#AL6137
 
191,750

 
189

 
 
 
FNMA
 
 
 30YR 4.500% 01/2043#BM1357
 
1,258,795

 
1,229

 
 
 
FNMA
 
 
 30YR 4.500% 02/2041#BF0199
 
6,012,942

 
5,935

 
 
 
FNMA
 
 
 30YR 4.500% 02/2046#AL9128
 
307,366

 
300

 
 
 
FNMA
 
 
 30YR 4.500% 02/2046#AL9781
 
1,412,783

 
1,380

 
 
 
FNMA
 
 
 30YR 4.500% 05/2048#BJ2763
 
2,631,342

 
2,634

 
 
 
FNMA
 
 
 30YR 4.500% 06/2044#AL5441
 
754,584

 
732

 
 
 
FNMA
 
 
 30YR 4.500% 06/2048#BJ9262
 
4,041,110

 
4,020

 
 
 
FNMA
 
 
 30YR 4.500% 06/2048#CA1909
 
3,188,548

 
3,229

 
 
 
FNMA
 
 
 30YR 4.500% 06/2048#MA3385
 
4,599,220

 
4,648

 
 
 
FNMA
 
 
 30YR 4.500% 07/2042#AL5749
 
953,428

 
930

 
 
 
FNMA
 
 
 30YR 4.500% 07/2046#AL8816
 
1,395,635

 
1,364

 
 
 
FNMA
 
 
 30YR 4.500% 09/2042#AL7306
 
1,387,189

 
1,348

 
 
 
FNMA
 
 
 30YR 4.500% 09/2042#AL9407
 
416,613

 
407

 
 
 
FNMA
 
 
 30YR 4.500% 09/2045#AL7384
 
743,513

 
720

 
 
 
FNMA
 
 
 30YR 6.000% 03/2036 #888956
 
94,351

 
92

 
 
 
FNMA
 
 
 5.500% 12/2039 #AD0494
 
26,724

 
26

 
 
 
FNMA
 
 
 5.500% 02/2033 #677709
 
64,826

 
63

 
 
 
FNMA
 
 
 5.500% 02/2034 #725206
 
20,406

 
20

 
 
 
FNMA
 
 
 5.500% 04/2037 #AD0249
 
175,911

 
170

 
 
 
FNMA
 
 
 5.500% 06/2036 #AD0663
 
134,585

 
130

 
 
 
FNMA
 
 
 5.500% 07/2035 #AD0931
 
44,130

 
43

 
 
 
FNMA
 
 
 5.500% 09/2036 #995575
 
23,010

 
22

 
 
 
FNMA
 
 
 5.500% 09/2036 #995788
 
364,863

 
353

 
 
 
FNMA
 
 
 5.500% 09/2038 #AD0198
 
140,531

 
136

 
 
 
FNMA
 
 
 5.500% 09/2039 #AD0650
 
23,509

 
23

 
 
 
FNMA
 
 
 6.000% 03/2033 #555285
 
60,380

 
59

 
 
 
FNMA
 
 
 6.000% 03/2034 #725228
 
228,748

 
223

 
 
 
FNMA
 
 
 6.000% 03/2034 #725330
 
306,264

 
300

 
 
 
FNMA
 
 
 6.000% 04/2034 #745942
 
40,648

 
40

 
 
 
FNMA
 
 
 6.000% 05/2036 #995212
 
99,797

 
98

 
 
 
FNMA
 
 
 6.000% 06/2035 #745398
 
33,454

 
33

 
 
 
FNMA
 
 
 6.000% 08/2037 #995487
 
29,798

 
29

 
 
 
FNMA
 
 
 6.500% 01/2039 #AE0442
 
98,168

 
98

 
 
 
FNMA
 
 
 6.500% 11/2037 #888891
 
32,785

 
32

 
 
 
FNMA
 
 
 6.500% 12/2032 #735415
 
135,100

 
132

 
 
 
FNMA
 
 
 6.500% 12/2038 #995694
 
17,520

 
18

 
 
 
FNMA
 
 
 6.500% 02/2038 #310048
 
17,770

 
18

 
 
 
FNMA
 
 
 6.500% 09/2038 #AE0012
 
103,793

 
102

 
 
 
FNMA
 
 
 7.000% 11/2037 #256985
 
29,008

 
28

 
 
 
FNMA
 
 
 7.000% 12/2037 #889886
 
44,047

 
45

 
 
 
FNMA
 
 
 ARM 0.000% 02/2044#AL4831
 
735,681

 
729

 
 
 
FNMA
 
 
 ARM 0.000% 05/2044#AW4688
 
510,475

 
503

 
 
 
FNMA
 
 
 ARM 0.000% 10/2047#BH9347
 
1,614,954

 
1,594

 
 
 
FNMA
 
 
 ARM 2.200% 08/2035 #832257
 
29,717

 
29

 
 
 
FNMA
 
 
 ARM 2.409% 11/2046#AL9535
 
1,861,570

 
1,828

 
 
 
FNMA
 
 
 ARM 2.530% 01/2036 #745303
 
30,442

 
30

 
 
 
FNMA
 
 
 ARM 2.569% 04/2044#AL5129
 
780,210

 
774

 
 
 
FNMA
 
 
 ARM 2.719% 10/2044#AL5968
 
1,532,719

 
1,512


- 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, 2018
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (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
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 

 
 
 
FNMA
 
 
 ARM 2.764% 12/2044#AX2197
 
468,876

 
$
463

 
 
 
FNMA
 
 
 ARM 2.907% 09/2044#AT7040
 
128,686

 
127

 
 
 
FNMA
 
 
 ARM 2.979% 02/2037 #907860
 
32,135

 
32

 
 
 
FNMA
 
 
 ARM 2.987% 02/2044#AL4980
 
400,258

 
395

 
 
 
FNMA
 
 
 ARM 3.331% 03/2048#BM3572
 
4,326,159

 
4,308

 
 
 
FNMA
 
 
 ARM 4.059% 04/2042#AO0810
 
569,075

 
564

 
 
 
FNMA
 
 
 ARM 4.830% 08/2035 #735869
 
19,889

 
20

 
 
 
FNMA
 
 
 ARM 5.125% 10/2038 #AL1043
 
47,269

 
47

 
 
 
FNMA
 
 
 ARM 5.289% 10/2038 #995005
 
21,384

 
21

 
 
 
FNMA
 
 
 ARM 5.790% 11/2037 #AL0144
 
4,762

 
5

 
 
 
FNMA
 
 
 ARM12ML+1.565% 03/2043#AR6900
 
792,818

 
780

 
 
 
FNR
 
 
 13-118 FB 1193476+0.520% 12/
 
603,115

 
602

 
 
 
FNR
 
 
 2007-47 PE 5.000% 05/2037
 
273,087

 
273

 
 
 
FNR
 
 
 2008-24 GD 6.500% 03/2037
 
7,111

 
7

 
 
 
FNR
 
 
 2009-40 TB 6.000% 06/2039
 
28,262

 
29

 
 
 
FNR
 
 
 2009-53 QM 5.500% 05/2039
 
6,918

 
7

 
 
 
FNR
 
 
 2010-123 WT 7.000% 11/2040
 
309,441

 
309

 
 
 
FNR
 
 
 2010-136 BA 3.500% 12/2030
 
2,101,939

 
2,060

 
 
 
FNW
 
 
 2003-W2 1A2 7.000% 07/2042
 
72,742

 
70

 
 
 
FNW
 
 
 2004-W2 5A 7.500% 03/2044
 
38,174

 
38

 
 
 
FNW
 
 
 2004-W8 3A 7.500% 06/2044
 
30,249

 
29

 
 
 
FNW
 
 
 2005-W1 1A3 7.000% 10/2044
 
58,542

 
58

 
 
 
FNW
 
 
 2007-W10 1A CSTR 08/2047
 
87,282

 
87

 
 
 
FNW
 
 
 2007-W10 2A CSTR 08/2047
 
26,611

 
27

 
 
 
GNR
 
 
 17-H17 FQ 1193512 0.270% 09/
 
2,477,309

 
2,484

 
 
 
GNR
 
 
 18-H01 FN 12ML 15 12/67
 
2,683,542

 
2,684

 
 
 
GNR
 
 
 18-H05 FE 12ML 7 02/68
 
3,686,742

 
3,672

 
 
 
GNR
 
 
 2018-H02 FM 12ML 10 02/68
 
2,363,105

 
2,351

 
 
 
VENDE
 
 
 1997-2 Z 7.500% 06/2027
 
65,762

 
62

 
 
 
 
 
 
 
 
 
 
 
 
 
 
   TOTAL MORTGAGES
 
 
 
 
 
 
156,534

 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. GOVERNMENT SECURITIES
 
 
 
 
 
 
 
 
 
 
CA ST
 
 
 6.200% 10/01/2019
 
208,991

 
200

 
 
 
CA ST
 
 
 7.300% 10/01/2039
 
1,059,221

 
975

 
 
 
CA ST
 
 
 7.550% 04/01/2039
 
2,105,789

 
1,970

 
 
 
CA ST
 
 
 7.625% 03/01/2040
 
1,228,093

 
1,118

 
 
 
FED DEPT ST
 
 
 6.900% 04/01/2029
 
817,819

 
835

 
 
 
IL ST
 
 
 5.000% 11/01/2021
 
743,211

 
732

 
 
 
IL ST
 
 
 5.877% 03/01/2019
 
747,591

 
728

 
 
 
IL ST
 
 
 TAXMUNI 5.100% 06/01/2033
 
2,325,557

 
2,264

 
 
 
NJ TPK
 
 
 7.102% 01/01/2041
 
1,598,505

 
1,462

 
 
 
NJ TPK
 
 
 SER F 7.414% 01/01/2040
 
578,820

 
528

 
 
 
UST NOTES
 
 
 1.375% 09/30/2019
 
6,538,067

 
6,534

 
 
 
UST NOTES
 
 
 1.750% 11/30/2019
 
9,934,375

 
9,921

 
 
 
UST NOTES
 
 
 2.000% 01/31/2020
 
18,190,003

 
18,131

 
 
 
UST NOTES
 
 
 2.750% 08/31/2025
 
4,183,529

 
4,293

 
 
 
UST NOTES
 
 
 2.875% 10/31/2020
 
12,015,000

 
12,073

 
 
 
UST NOTES
 
 
 3.000% 10/31/2025
 
4,193,755

 
4,315

 
 
 
 
 
 
 
 
 
 
 
 
 
 
    TOTAL U.S. GOVERNMENT SECURITIES
 
 
 
 
 
 
66,079

 
 
 
 
 
 
 
 
 
 
 
 
 
ASSET-BACKED SECURITIES
 
 
 
 
 
 
 
 
 
 
SLC STUDENT LN TR
 
 
 3ML 02/15/2045
 
11,924,171

 
11,979

 
 
 
SLM STUDENT LN TR
 
 
 3ML 07/25/2040
 
8,158,566

 
8,008

 
 
 
SLM STUDENT LN TR
 
 
 3ML 10/25/2040
 
2,267,708

 
2,249

 
 
 
SBAP
 
 
 2005-20E 1 4.840% 05/2025
 
14,962

 
15

 
 
 
SBAP
 
 
 2005-20G 1 4.750% 07/2025
 
17,008

 
17

 
 
 
SBAP
 
 
 2005-20I 1 4.760% 09/2025
 
21,321

 
21


- 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, 2018
(thousands of dollars)

(a)
 
 
 (b)
 
 (c)
 
 
 
 (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
 
 Current Value
 
 
 
 
 
 
 
 
 
 
 

 
 
 
SBAP
 
 
 2006-20A 1 5.210% 01/2026
 
19,622

 
$
19

 
 
 
SBAP
 
 
 2006-20C 1 5.570% 03/2026
 
27,892

 
28

 
 
 
SBAP
 
 
 2006-20G 1 6.070% 07/2026
 
49,354

 
49

 
 
 
SBAP
 
 
 2007-20A 1 5.320% 01/2027
 
33,864

 
33

 
 
 
SBAP
 
 
 2007-20C 1 5.230% 03/2027
 
53,639

 
53

 
 
 
SBAP
 
 
 2007-20G 1 5.820% 07/2027
 
37,432

 
37

 
 
 
SBAP
 
 
 2007-20D 1 5.320% 04/2027
 
54,175

 
51

 
 
 
 
 
 
 
 
 
 
 
 
 
 
   TOTAL ASSET-BACKED SECURITIES
 
 
 
 
 
 
22,559

 
 
 
 
 
 
 
 
 
 
 
 
CASH EQUIVALENTS
 
 
 
 
 
 
 
 
 
 
STATE STREET BANK & TRUST CO
 
 
SHORT TERM INVESTMENT FUND
 
6,339,810

 
6,340

 
 
 
 
 
 
 
 
 
 
 
 
 
RECEIVABLES
 
 
 
 
 
 
3,783

 
 
 
 
 
 
 
 
 
 
 
LIABILITIES
 
 
 
 
 
(1,849
)
 
 
 
 
 
 
 
 
 
 
 
TOTAL SEPARATE ACCOUNT
 
 
 
 
 
435,223

 
 
 
 
 
 
 
 
 
 


 
 
 
TOTAL INVESTMENTS PER FINANCIAL STATEMENTS
 
 
 
16,824,669

 
 
 
 
 
 
 
 
 
 
 
 
 
PARTICIPANT LOANS
 
 
INTEREST RATES RANGING FROM 2.23% TO 9.50%
 
113,659

 
 
 
 
 
 
 
 
 
 
 
 
 
 
TOTAL INVESTMENTS PER FORM 5500
 
 
 
 
 
$
16,938,328

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Column (d) cost was omitted as all investments are participant-directed.
 
 
 
 
 
 
 
 
 
 
 
* Party-in-interest as defined by ERISA.
 
 
 
 
 
 

 


- 21 -




EXHIBIT INDEX







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, 2019                 
/s/ Christopher A. Butner
 
Chevron Corporation, Plan Administrator
 
By: Christopher A. Butner
        Assistant Secretary
        Chevron Corporation
                                




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