8-K/AEarnings & Results

CHEVRON CORP 8-K/A Report, Financial Results (Jan 29, 2016)

Filed January 29, 2016For Securities:CVX

Summary

This 8-K filing from Chevron Corporation (CVX), filed on January 28, 2016, serves as an amendment to a previous filing concerning their fourth-quarter 2015 results. The primary purpose of this amendment is to correct a minor but significant error in the initial reporting: the company initially reported an "unaudited loss of $588 million" but the word "earnings" was erroneously used instead of "loss" in the opening paragraph. This amendment clarifies that the company did indeed incur a loss, not earnings, and explicitly adds "(LOSS)" to the net income line item in financial attachments and footnotes to accurately reflect the financial outcome for the quarter.

Key Highlights

  • 1Chevron reported an unaudited net loss of $588 million for the fourth quarter of 2015.
  • 2This filing is an amendment to correct a reporting error where 'earnings' was mistakenly used instead of 'loss'.
  • 3The correction was made in the opening paragraph of the previous 8-K filing.
  • 4The term '(LOSS)' has been added to the 'NET INCOME (LOSS) ATTRIBUTABLE TO CHEVRON CORPORATION' line item in financial attachments and footnotes.
  • 5The press release issued prior to this amendment correctly reflected the use of the word 'loss'.
  • 6The information in this filing and its exhibit is not considered 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934.

Frequently Asked Questions

This 8-K filing is an amendment to correct a previous filing. It clarifies that Chevron reported an unaudited net loss of $588 million for the fourth quarter of 2015, correcting an error where the word 'earnings' was mistakenly used instead of 'loss'.

The company reported an unaudited net loss of $588 million for the fourth quarter of 2015.

No, the amendment specifically states that no other changes have been made besides the correction to accurately reflect the net loss for the quarter. The press release preceding this filing also correctly identified the result as a loss.

No, the actual financial result of a $588 million loss for Q4 2015 has not changed. This amendment only corrects the terminology used to describe that result in the initial filing, ensuring it's accurately presented as a loss rather than earnings.