ExxonMobil Earns $3.2 Billion in Third Quarter 2019

  • Cash flow from operating activities of $9.1 billion
  • Upstream liquids production grows by 5 percent from a year earlier, driven by the Permian Basin
  • Agreement to sell Norway upstream assets marks significant progress on divestment plans

IRVING, Texas–(BUSINESS WIRE)–Exxon Mobil Corporation (NYSE: XOM):

 

 

 

 

 

 

 

 

Second

 

 

 

 

 

 

 

 

Third Quarter

 

 

Quarter

 

 

First Nine Months

 

 

 

 

 

2019

2018

 

%

2019

%

 

2019

2018

 

%

Earnings Summary

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in millions, except per share data)

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (U.S. GAAP)

 

3,170

6,240

 

-49

3,130

1

 

8,650

14,840

 

-42

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings Per Common Share

 

 

 

 

 

 

 

 

 

 

 

 

 

Assuming Dilution

 

0.75

1.46

 

-49

0.73

3

 

2.03

3.47

 

-41

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital and Exploration

 

 

 

 

 

 

 

 

 

 

 

 

Expenditures

 

7,719

6,586

 

17

8,079

-4

 

22,688

18,080

 

25

Exxon Mobil Corporation today announced estimated third quarter 2019 earnings of $3.2 billion, or $0.75 per share assuming dilution. Earnings included a favorable tax-related identified item of about $300 million, or $0.07 per share assuming dilution. Capital and exploration expenditures were $7.7 billion, including key investments in the Permian Basin.

Oil-equivalent production rose 3 percent from the third quarter of 2018, to 3.9 million barrels per day. Excluding entitlement effects and divestments, liquids production increased 4 percent driven by Permian Basin growth, while natural gas volumes increased 1 percent.

“We are making excellent progress on our long-term growth strategy,” said Darren W. Woods, chairman and chief executive officer. “Growth in the Permian continues to drive increased liquids production and we are ahead of schedule for first oil in Guyana. The value of our position in Guyana improved further this quarter with an additional discovery, our fourth this year. We are also making good progress on our advantaged investments in the Downstream and Chemical. This quarter, we started production at our new high-performance polyethylene line in Beaumont. The competitiveness of our portfolio was further enhanced with the divestment of non-strategic assets, reaching almost a third of our 2021 objective of $15 billion.”

Third Quarter 2019 Business Highlights

Upstream

  • Average crude and natural gas realizations declined from second quarter, in line with industry markers.
  • Liquids volumes were in line with second quarter, with U.S. unconventional growth offsetting base decline. Natural gas volumes were down 1 percent.
  • Permian unconventional development continued with production up 7 percent from the second quarter and more than 70 percent from the third quarter of last year.

Downstream

  • Industry fuels margins improved from the second quarter on stronger distillate margins in Europe and Asia Pacific.
  • Following completion of significant refinery turnaround activity during the second quarter, scheduled maintenance activity was lower in the third quarter.

Chemical

  • Margins remained weak during the quarter with supply length from recent industry capacity additions.
  • Scheduled maintenance activity was lower than second quarter, however results were impacted by a reliability event at the Baytown, Texas olefins plant.

Strengthening the Portfolio

  • ExxonMobil announced another oil discovery on the Stabroek block offshore Guyana at the Tripletail-1 well, adding to the previously announced resource estimate of more than 6 billion oil-equivalent barrels. The Liza Destiny floating production, storage and offloading vessel arrived offshore Guyana, targeting first oil at the Liza Phase 1 development by December 2019. ExxonMobil estimates gross production from the Stabroek block will exceed 750,000 oil-equivalent barrels per day by 2025.
  • ExxonMobil signed an agreement with Vår Energi AS for the sale of its non-operated upstream assets in Norway for $4.5 billion as part of its previously announced plans to divest approximately $15 billion in non-strategic assets by 2021. The transaction is expected to close in the fourth quarter of 2019, subject to standard conditions precedent, including customary approvals from regulatory authorities. The agreed sales price of $4.5 billion is subject to interim period adjustments from the effective date of January 1, 2019, to the closing date. Estimated total cash flow from the divestment is around $3.5 billion after closing adjustments, with expected 2019 cash proceeds of around $2.6 billion and estimated cash flow in future periods associated with deferred consideration of $0.3 billion and a refund of income tax payments of $0.6 billion. The corporation expects to recognize a gain of approximately $3.5 billion at closing.

Investing for Growth

  • The company started production on its new high-performance polyethylene line in Beaumont, Texas. The expansion increased plant production capacity by 65 percent or 650,000 metric tons per year, and builds upon supply advantages created by the two new performance polyethylene lines which began production in 2017 at the company’s manufacturing site in Mont Belvieu, Texas.
  • Affiliates of MPLX LP, Delek US and Rattler Midstream LP joined ExxonMobil, Plains All American Pipeline LP and Lotus Midstream LLC as partners in the joint venture to develop the Wink to Webster crude oil pipeline in Texas. The new pipeline system is expected to commence operations in early 2021, providing more than one million barrels per day of Permian takeaway capacity.

Advancing Innovative Technologies and Products

  • The company made additional progress in advancing the development of new technologies to address the risks of climate change. ExxonMobil and Mosaic Materials, Inc. announced an agreement to explore the advancement of potential breakthrough technology to remove carbon dioxide from emissions sources. Mosaic Materials has progressed research on a unique process that uses porous solids, known as metal-organic frameworks, to separate carbon dioxide from air or flue gas. The agreement with ExxonMobil will enable further discussion between the two companies to evaluate opportunities for industrial uses of the technology at scale.
  • ExxonMobil announced the global launch of its Mobil EVTM lubricants offering, which features a full suite of fluids and greases designed to meet the evolving drivetrain requirements of electric vehicles. The new products, which highlight close collaboration between ExxonMobil and original equipment manufacturers, contain molecules carefully selected and blended to help electric vehicles travel further between charges, extend component life, and operate more safely.

 

 

 

 

 

 

 

 

 

 

 

Earnings and Volume Summary

 

 

 

 

 

 

 

 

 

 

 

 

Millions of Dollars

3Q

 

3Q

 

 

 

 

 

 

(unless noted)

2019

 

2018

 

Change

 

Comments

 

 

Upstream

 

 

 

 

 

 

 

 

 

U.S.

37

 

606

 

-569

 

Volumes growth more than offset by lower prices and higher growth-related expenses

 

 

Non-U.S.

2,131

 

3,623

 

-1,492

 

Lower prices, absence of identified tax item (-271), and higher growth-related expenses

 

 

Total

2,168

 

4,229

 

-2,061

 

Prices -1,510, volumes +230, other -780

 

 

Production (koebd)

3,899

 

3,786

 

+113

 

Liquids +106 kbd: growth

 

Gas +44 mcfd: growth, partly offset by higher downtime and divestments

 

 

 

 

 

 

 

 

 

 

 

 

Downstream

 

 

 

 

 

 

 

 

 

U.S.

673

 

961

 

-288

 

Higher lubricants margins, more than offset by lower fuels margins with reduced North America crude differentials

 

 

Non-U.S.

557

 

681

 

-124

 

Favorable refinery yield/mix impacts more than offset by increased downtime/maintenance and lower fuels margins

 

 

Total

1,230

 

1,642

 

-412

 

Margins -340, downtime/maintenance -80, other +10

 

 

Petroleum Product Sales (kbd)

5,504

 

5,616

 

-112

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chemical

 

 

 

 

 

 

 

 

 

U.S.

53

 

404

 

-351

 

Lower margins, higher project-related expenses, and lower volumes

 

 

Non-U.S.

188

 

309

 

-121

 

Reduced downtime/maintenance more than offset by lower margins

 

 

Total

241

 

713

 

-472

 

Margins -350, downtime/maintenance +20, project-related expenses -70, other -70

 

 

Prime Product Sales (kt)

6,476

 

6,677

 

-201

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and financing

(469)

 

(344)

 

-125

 

Higher financing costs and absence of prior year identified tax item (-348), partly offset by current year identified tax item (+307)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings and Volume Summary

 

 

 

 

 

 

 

 

 

 

 

 

Millions of Dollars

3Q

 

2Q

 

 

 

 

 

 

(unless noted)

2019

 

2019

 

Change

 

Comments

 

 

Upstream

 

 

 

 

 

 

 

 

 

U.S.

37

 

335

 

-298

 

Lower prices and higher growth-related expenses

 

 

Non-U.S.

2,131

 

2,926

 

-795

 

Lower prices, lower volumes, and absence of favorable Alberta tax rate change (-487)

 

 

Total

2,168

 

3,261

 

-1,093

 

Prices -550, volumes -110, other -430

 

 

Production (koebd)

3,899

 

3,909

 

-10

 

Liquids +3 kbd: growth, partly offset by increased downtime

 

Gas -75 mcfd: growth and lower scheduled maintenance offset by lower entitlements

 

 

 

 

 

 

 

 

 

 

 

 

Downstream

 

 

 

 

 

 

 

 

 

U.S.

673

 

310

 

+363

 

Reduced downtime/maintenance partly offset by lower fuels margins

 

 

Non-U.S.

557

 

141

 

+416

 

Higher fuels and lubricants margins, favorable yield/sales mix, and reduced downtime/maintenance

 

 

Total

1,230

 

451

 

+779

 

Margins +140, downtime/maintenance +540, other +100

 

 

Petroleum Product Sales (kbd)

5,504

 

5,408

 

+96

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chemical

 

 

 

 

 

 

 

 

 

U.S.

53

 

(6)

 

+59

 

Reduced downtime/maintenance and higher margins, partly offset by unfavorable tax impacts

 

 

Non-U.S.

188

 

194

 

-6

 

Lower project-related expenses more than offset by increased downtime/maintenance and lower margins

 

 

Total

241

 

188

 

+53

 

Margins +30, downtime/maintenance +40, other -20

 

 

Prime Product Sales (kt)

6,476

 

6,699

 

-223

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate and financing

(469)

 

(770)

 

+301

 

Favorable identified tax item (+307)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings and Volume Summary

 

 

 

 

 

 

 

 

 

 

 

 

Millions of Dollars

YTD

 

YTD

 

 

 

 

 

 

(unless noted)

2019

 

2018

 

Change

 

Comments

 

 

Upstream

 

 

 

 

 

 

 

 

 

U.S.

468

 

1,474

 

-1,006

 

Volumes growth more than offset by lower prices, higher growth-related expenses, and impairment charges

 

 

Non-U.S.

7,837

 

9,292

 

-1,455

 

Alberta tax rate change (+487), higher volumes, and favorable tax effects, more than offset by lower prices, higher maintenance and exploration expenses, absence of Scarborough divestment gain (-366), and absence of identified tax item (-271)

 

 

Total

8,305

 

10,766

 

-2,461

 

Prices -2,280, volume +1,030, expenses -970, other -240

 

 

Production (koebd)

3,929

 

3,774

 

+155

 

Liquids +131 kbd: growth and lower downtime

 

Gas +147 mcfd: growth and lower downtime

 

 

Downstream

 

 

 

 

 

 

 

 

 

U.S.

822

 

1,975

 

-1,153

 

Projects contribution and favorable yield/sales mix more than offset by increased downtime/maintenance and lower margins with narrowing North America crude differentials

 

 

Non-U.S.

603

 

1,331

 

-728

 

Projects contribution and favorable foreign exchange more than offset by lower margins and unfavorable yield/sales mix

 

 

Total

1,425

 

3,306

 

-1,881

 

Margins -1,430, downtime/maintenance -740, portfolio/projects +190, other +100

 

 

Petroleum Product Sales (kbd)

5,443

 

5,517

 

-74

 

 

 

 

Chemical

 

 

 

 

 

 

 

 

 

U.S.

208

 

1,360

 

-1,152

 

Lower margins, higher downtime/maintenance, lower volumes, and higher project-related expenses

 

 

Non-U.S.

739

 

1,254

 

-515

 

Reduced downtime/maintenance more than offset by lower margins, higher project-related expenses, and unfavorable foreign exchange

 

 

Total

947

 

2,614

 

-1,667

 

Margins -1,140, project-related expenses -240, downtime/maintenance -90, other -200

 

 

Prime Product Sales (kt)

19,947

 

20,197

 

-250

 

 

 

 

Corporate and financing

(2,027)

 

(1,846)

 

-181

 

Higher pension expenses and absence of prior year identified tax item (-348) partly offset by current year identified tax item (+307)

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash Flow from Operations and Asset Sales excluding Working Capital

 

 

 

 

 

 

 

 

 

Millions of Dollars

 

3Q

 

 

 

 

 

 

2019

 

Comments

 

 

Net income including noncontrolling interests

 

3,247

 

Including $77 million for noncontrolling interests

 

 

Depreciation

 

4,873

 

 

 

 

Changes in working capital

 

1,550

 

Mainly inventory draw and seasonal payables benefit

 

 

Other

 

(591)

 

Includes adjustment for noncash identified tax item

 

 

Cash Flow from Operating

 

9,079

 

 

 

 

Activities (U.S. GAAP)

 

 

 

 

 

 

Asset sales

 

460

 

Including Norway upstream divestment deposit and Mobile Bay sale

 

 

Cash Flow from Operations

 

9,539

 

 

 

 

and Asset Sales

 

 

 

 

 

 

Changes in working capital

 

1,550

 

 

 

 

Cash Flow from Operations

 

7,989

 

 

 

 

and Asset Sales excluding Working Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Millions of Dollars

 

YTD

 

 

 

 

 

 

2019

 

Comments

 

 

Net income including noncontrolling interests

 

9,044

 

Including $394 million for noncontrolling interests

 

 

Depreciation

 

14,075

 

 

 

 

Changes in working capital

 

2,564

 

Mainly driven by higher payables

 

 

Other

 

(2,319)

 

Equity company earnings greater than dividends, and adjustment for noncash identified items

 

 

Cash Flow from Operating

 

23,364

 

 

 

 

Activities (U.S. GAAP)

 

 

 

 

 

 

Asset sales

 

600

 

Including Norway upstream divestment deposit and Mobile Bay sale

 

 

Cash Flow from Operations

 

23,964

 

 

 

 

and Asset Sales

 

 

 

 

 

 

Changes in working capital

 

2,564

 

 

 

 

Cash Flow from Operations

 

21,400

 

 

 

 

and Asset Sales excluding Working Capital

 

 

 

 

 

 

 

 

 

 

 

 

First Nine Months 2019 Financial Updates

During the first nine months of 2019, Exxon Mobil Corporation purchased 5 million shares of its common stock for the treasury at a gross cost of $414 million. These shares were acquired to offset dilution in conjunction with the company’s benefit plans and programs. The corporation will continue to acquire shares to offset dilution in conjunction with its benefit plans and programs.

ExxonMobil will discuss financial and operating results and other matters during a webcast at 8:30 a.m. Central Time on November 1, 2019. To listen to the event or access an archived replay, please visit www.exxonmobil.com.

Cautionary Statement

Outlooks, projections, goals, targets, descriptions of strategic plans and objectives, and other statements of future events or conditions in this release are forward-looking statements. Actual future results, including business and project plans, capacities, costs, and timing; resource recoveries and production rates; and the impact of new technologies, including to increase capital efficiency and production and to reduce greenhouse gas emissions, could differ materially due to a number of factors. These include global or regional changes in supply and demand for oil, gas, and petrochemicals and other market conditions that impact prices and differentials; reservoir performance; the outcome of exploration projects and timely completion of development and construction projects; the impact of fiscal and commercial terms and the outcome of commercial negotiations or acquisitions; changes in law, taxes, or regulation including environmental regulations, and timely granting of governmental permits; war, trade relations, shipping blockades or harassment, and other political or security disturbances; opportunities for and regulatory approval of potential investments or divestments; the actions of competitors; the capture of efficiencies between business lines; unforeseen technical or operating difficulties; unexpected technological developments; the ability to bring new technologies to commercial scale on a cost-competitive basis, including large-scale hydraulic fracturing projects; general economic conditions including the occurrence and duration of economic recessions; the results of research programs; and other factors discussed under the heading Factors Affecting Future Results on the Investors page of our website at www.exxonmobil.com and in Item 1A of ExxonMobil’s 2018 Form 10-K. We assume no duty to update these statements as of any future date.

Frequently Used Terms and Non-GAAP Measures

This press release includes cash flow from operations and asset sales. Because of the regular nature of our asset management and divestment program, we believe it is useful for investors to consider proceeds associated with the sales of subsidiaries, property, plant and equipment, and sales and returns of investments together with cash provided by operating activities when evaluating cash available for investment in the business and financing activities. A reconciliation to net cash provided by operating activities is shown for 2019 periods on page 7 and for 2019 and 2018 periods in Attachment V.

This press release also includes cash flow from operations and asset sales excluding working capital. We believe it is useful for investors to consider these numbers in comparing the underlying performance of our business across periods when there are significant period-to-period differences in the amount of changes in working capital. A reconciliation to net cash provided by operating activities is shown for 2019 periods on page 7 and for 2019 and 2018 periods in Attachment V.

This press release also includes earnings excluding identified items, which are earnings excluding significant non-operational events with an absolute corporate total earnings impact of at least $250 million. The earnings impact of an identified item for an individual segment may be less than $250 million when the item impacts several segments. We believe it is useful for investors to consider these figures in comparing the underlying performance of our business across periods when one, or both, periods include identified items. A reconciliation to earnings is shown for 2019 and 2018 periods in Attachment II.

This press release also includes total taxes including sales-based taxes. This is a broader indicator of the total tax burden on the corporation’s products and earnings, including certain sales and value-added taxes imposed on and concurrent with revenue-producing transactions with customers and collected on behalf of governmental authorities (“sales-based taxes”). It combines “Income taxes” and “Total other taxes and duties” with sales-based taxes, which are reported net in the income statement. We believe it is useful for the corporation and its investors to understand the total tax burden imposed on the corporation’s products and earnings. A reconciliation to total taxes is shown as part of the Estimated Key Financial and Operating Data in Attachment I.

References to the resource base and other quantities of oil, natural gas or condensate may include estimated amounts that are not yet classified as “proved reserves” under SEC definitions, but which are expected to be ultimately recoverable. The term “project” as used in this release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. Further information on ExxonMobil’s frequently used financial and operating measures and other terms including “Cash flow from operations and asset sales”, and “Total taxes including sales‑based taxes” is contained under the heading “Frequently Used Terms” available through the “Investors” section of our website at www.exxonmobil.com.

Reference to Earnings

References to corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the consolidated income statement. Unless otherwise indicated, references to earnings, Upstream, Downstream, Chemical and Corporate and financing segment earnings, and earnings per share are ExxonMobil’s share after excluding amounts attributable to noncontrolling interests.

Mobil EV is a registered trademark of Exxon Mobil Corporation.

Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Similarly, ExxonMobil has business relationships with thousands of customers, suppliers, governments, and others. For convenience and simplicity, words such as venture, joint venture, partnership, co-venturer, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships.

 

Estimated Key Financial and Operating Data

 

 

 

 

 

 

 

 

 

Attachment I

 

Exxon Mobil Corporation

Third Quarter 2019

(millions of dollars, unless noted)

 

 

 

 

 

 

 

 

Second

 

 

 

 

 

Third Quarter

 

Quarter

 

First Nine Months

 

 

 

2019

 

2018

 

2019

 

2019

 

2018

Earnings / Earnings Per Share

 

 

 

 

 

 

 

 

 

Total revenues and other income

65,049

 

76,605

 

69,091

 

197,765

 

218,317

Total costs and other deductions

60,328

 

67,525

 

64,459

 

184,123

 

195,485

Income before income taxes

4,721

 

9,080

 

4,632

 

13,642

 

22,832

 

Income taxes

1,474

 

2,634

 

1,241

 

4,598

 

7,617

Net income including noncontrolling interests

3,247

 

6,446

 

3,391

 

9,044

 

15,215

 

Net income attributable to noncontrolling interests

77

 

206

 

261

 

394

 

375

Net income attributable to ExxonMobil (U.S. GAAP)

3,170

 

6,240

 

3,130

 

8,650

 

14,840

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share (dollars)

0.75

 

1.46

 

0.73

 

2.03

 

3.47

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share

 

 

 

 

 

 

 

 

 

 

– assuming dilution (dollars)

0.75

 

1.46

 

0.73

 

2.03

 

3.47

 

 

 

 

 

 

 

 

 

 

 

 

Exploration expenses, including dry holes

299

 

292

 

333

 

912

 

911

 

 

 

 

 

 

 

 

 

 

 

 

Other Financial Data

 

 

 

 

 

 

 

 

 

Dividends on common stock

 

 

 

 

 

 

 

 

 

 

Total

3,716

 

3,503

 

3,715

 

10,936

 

10,296

 

Per common share (dollars)

0.87

 

0.82

 

0.87

 

2.56

 

2.41

 

 

 

 

 

 

 

 

 

 

 

 

Millions of common shares outstanding

 

 

 

 

 

 

 

 

 

 

At period end

 

 

 

 

 

 

4,231

 

4,234

 

Average – assuming dilution

4,271

 

4,271

 

4,271

 

4,270

 

4,271

 

 

 

 

 

 

 

 

 

 

 

 

ExxonMobil share of equity at period end

 

 

 

 

 

 

189,915

 

190,365

ExxonMobil share of capital employed at period end

 

 

 

 

 

 

239,653

 

232,792

 

 

 

 

 

 

 

 

 

 

 

 

Income taxes

1,474

 

2,634

 

1,241

 

4,598

 

7,617

Total other taxes and duties

8,317

 

8,939

 

8,366

 

24,770

 

26,757

 

Total taxes

9,791

 

11,573

 

9,607

 

29,368

 

34,374

Sales-based taxes

5,228

 

5,518

 

5,261

 

15,474

 

16,306

 

Total taxes including sales-based taxes

15,019

 

17,091

 

14,868

 

44,842

 

50,680

 

 

 

 

 

 

 

 

 

 

 

 

ExxonMobil share of income taxes of

 

 

 

 

 

 

 

 

 

equity companies

426

 

755

 

501

 

1,776

 

2,150

 

 

 

 

 

 

 

 

 

 

 

 

Attachment II

 

 

 

 

 

 

 

 

 

 

 

 

Exxon Mobil Corporation

Third Quarter 2019

(millions of dollars)

 

 

 

 

 

 

 

 

Second

 

 

 

 

 

Third Quarter

 

Quarter

 

First Nine Months

 

 

 

2019

 

2018

 

2019

 

2019

 

2018

Earnings (U.S. GAAP)

 

 

 

 

 

 

 

 

 

Upstream

 

 

 

 

 

 

 

 

 

 

United States

37

 

 

606

 

 

335

 

 

468

 

 

1,474

 

 

Non-U.S.

2,131

 

 

3,623

 

 

2,926

 

 

7,837

 

 

9,292

 

Downstream

 

 

 

 

 

 

 

 

 

 

United States

673

 

 

961

 

 

310

 

 

822

 

 

1,975

 

 

Non-U.S.

557

 

 

681

 

 

141

 

 

603

 

 

1,331

 

Chemical

 

 

 

 

 

 

 

 

 

 

United States

53

 

 

404

 

 

(6

)

 

208

 

 

1,360

 

 

Non-U.S.

188

 

 

309

 

 

194

 

 

739

 

 

1,254

 

Corporate and financing

(469

)

 

(344

)

 

(770

)

 

(2,027

)

 

(1,846

)

Net income attributable to ExxonMobil

3,170

 

 

6,240

 

 

3,130

 

 

8,650

 

 

14,840

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Identified Items Included in Earnings

 

 

 

 

 

 

 

 

 

Non-U.S. Upstream

 

 

 

 

 

 

 

 

 

 

Tax Items

 

 

271

 

 

487

 

 

487

 

 

271

 

 

Asset Management

 

 

 

 

 

 

 

 

366

 

Non-U.S. Downstream

 

 

 

 

 

 

 

 

 

 

Tax Items

 

 

 

 

(9

)

 

(9

)

 

 

Non-U.S. Chemical

 

 

 

 

 

 

 

 

 

 

Tax Items

 

 

 

 

2

 

 

2

 

 

 

Corporate and financing

 

 

 

 

 

 

 

 

 

 

Tax Items

307

 

 

348

 

 

25

 

 

332

 

 

348

 

Corporate total

307

 

 

619

 

 

505

 

 

812

 

 

985

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings Excluding Identified Items

 

 

 

 

 

 

 

 

 

Upstream

 

 

 

 

 

 

 

 

 

 

United States

37

 

 

606

 

 

335

 

 

468

 

 

1,474

 

 

Non-U.S.

2,131

 

 

3,352

 

 

2,439

 

 

7,350

 

 

8,655

 

Downstream

 

 

 

 

 

 

 

 

 

 

United States

673

 

 

961

 

 

310

 

 

822

 

 

1,975

 

 

Non-U.S.

557

 

 

681

 

 

150

 

 

612

 

 

1,331

 

Chemical

 

 

 

 

 

 

 

 

 

 

United States

53

 

 

404

 

 

(6

)

 

208

 

 

1,360

 

 

Non-U.S.

188

 

 

309

 

 

192

 

 

737

 

 

1,254

 

Corporate and financing

(776

)

 

(692

)

 

(795

)

 

(2,359

)

 

(2,194

)

Corporate total

2,863

 

 

5,621

 

 

2,625

 

 

7,838

 

 

13,855

 

 

Contacts

ExxonMobil

Media Relations, 972-940-6007

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