volumes.

All Other

All Other consists of worldwide cash management and debt financing activities, corporate administrative functions, insurance operations, real estate activities, and technology companies.

Net charges in 2015 decreased $935 million from 2014, mainly due to lower corporate tax items and the absence of 2014 charges related to mining assets, partially offset by higher charges related to reductions in corporate staffs. Net charges in 2014 increased $365 million from 2013, mainly due to higher environmental reserve additions, asset impairments and additional asset retirement obligations for mining assets, as well as higher corporate tax items. These increases were partially offset by the absence of 2013 impairments of power-related affiliates and lower other corporate charges.



Consolidated Statement of Income

Comparative amounts for certain income statement categories are shown below:

Sales and other operating revenues decreased in 2015 primarily due to lower refined product and crude oil prices, partially offset by an increase in refined product and crude oil volumes. The decrease between 2014 and 2013 was mainly due to lower crude oil volumes, and lower refined product and crude oil prices.

Income from equity affiliates decreased in 2015 from 2014 mainly due to lower earnings from Tengizchevroil in Kazakhstan, CPChem, Angola LNG and the effect of the sale of Caltex Australia Limited in second quarter 2015. Partially offsetting these effects were higher earnings from GS Caltex in South Korea and Petropiar in Venezuela.

Income from equity affiliates decreased in 2014 from 2013 mainly due to lower upstream-related earnings from Tengizchevroil in Kazakhstan, Petropiar and Petroboscan in Venezuela, and Angola LNG. Partially offsetting these effects were higher downstream-related earnings from GS Caltex in South Korea, higher earnings from CPChem and the absence of 2013 impairments of power-related affiliates.

Refer to Note 15, beginning on page FS-40, for a discussion of Chevron’s investments in affiliated companies.

Other income of $3.9 billion in 2015 included net gains from asset sales of $3.2 billion before-tax. Other income in 2014 and 2013 included net gains from asset sales of $3.6 billion and $710 million before-tax, respectively. Interest income was approximately $119 million in 2015, $145 million in 2014 and $136 million in 2013. Foreign currency effects increased other income by $82 million in 2015, $277 million in 2014 and $103 million in 2013.

Crude oil and product purchases of $69.8 billion were down in 2015 mainly due to lower crude oil and refined product prices, partially offset by an increase in crude oil volumes. Crude oil and product purchases in 2014 decreased by $15.0 billion from the prior year, mainly due to lower crude oil and refined product prices, along with lower crude oil volumes.

Operating, selling, general and administrative expenses decreased $2.3 billion between 2015 and 2014. The decrease included lower fuel costs of $920 million. Also contributing to the decrease were lower expenses for construction, repair and maintenance of $300 million, contract labor of $270 million, and