Noncontrolling Interests
Ownership interests in the company’s subsidiaries held by parties other than the parent are presented separately from the parent’s equity on the Consolidated Balance Sheet. The amount of consolidated net income attributable to the parent and the noncontrolling interests are both presented on the face of the Consolidated Statement of Income. The term “earnings” is defined as “Net Income Attributable to Chevron Corporation.”
Activity for the equity attributable to noncontrolling interests for 2013, 2012 and 2011 is as follows:
|
| | | | | | | | | | | | |
| 2013 |
| | | 2012 |
| | 2011 |
|
Balance at January 1 | $ | 1,308 |
| | | $ | 799 |
| | $ | 730 |
|
Net income | 174 |
| | | 157 |
| | 113 |
|
Distributions to noncontrolling interests | (99 | ) | | | (41 | ) | | (71 | ) |
Other changes, net* | (69 | ) | | | 393 |
| | 27 |
|
Balance at December 31 | $ | 1,314 |
| | | $ | 1,308 |
| | $ | 799 |
|
* Includes components of comprehensive income, which are disclosed separately in the Consolidated Statement of Comprehensive Income.
