Document And Entity Information
Document And Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2017 | Jan. 31, 2018 | Jun. 30, 2017 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,017 | ||
Trading Symbol | XOM | ||
Entity Registrant Name | EXXON MOBIL CORP | ||
Entity Central Index Key | 34,088 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 4,237,462,159 | ||
Entity Public Float | $ 342 |
Consolidated Statement Of Incom
Consolidated Statement Of Income - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Revenues and other income | ||||||
Sales and other operating revenue | [1] | $ 237,162 | $ 200,628 | [2] | $ 239,854 | [2] |
Income from equity affiliates | 5,380 | 4,806 | 7,644 | |||
Other income | 1,821 | 2,680 | 1,750 | |||
Total revenues and other income | 244,363 | 208,114 | 249,248 | |||
Costs and other deductions | ||||||
Crude oil and product purchases | 128,217 | 104,171 | 130,003 | |||
Production and manufacturing expenses | 34,128 | 31,927 | 35,587 | |||
Selling, general and administrative expenses | 10,956 | 10,799 | 11,501 | |||
Depreciation and depletion | 19,893 | 22,308 | 18,048 | |||
Exploration expenses, including dry holes | 1,790 | 1,467 | 1,523 | |||
Interest expense | 601 | 453 | 311 | |||
Other taxes and duties | 30,104 | 29,020 | 30,309 | |||
Total costs and other deductions | 225,689 | 200,145 | 227,282 | |||
Income before income taxes | 18,674 | 7,969 | 21,966 | |||
Income taxes | (1,174) | (406) | 5,415 | |||
Net income including noncontrolling interests | 19,848 | 8,375 | 16,551 | |||
Net income attributable to noncontrolling interests | 138 | 535 | 401 | |||
Net income attributable to ExxonMobil | $ 19,710 | $ 7,840 | $ 16,150 | |||
Earnings per common share (dollars) | [3] | $ 4.63 | $ 1.88 | $ 3.85 | ||
Earnings per common share - assuming dilution (dollars) | $ 4.63 | $ 1.88 | $ 3.85 | |||
[1] | Effective December 31, 2017, the Corporation revised its accounting policy election related to sales-based taxes. See Note 2: Accounting Changes. | |||||
[2] | Sales and other operating revenue excludes previously reported sales-based taxes of $17,980 million for 2016 and $19,634 million for 2015. See Note 2: Accounting Changes. | |||||
[3] | The earnings per common share and earnings per common share - assuming dilution are the same in each period shown. |
Consolidated Statement Of Inco3
Consolidated Statement Of Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
Consolidated Statement Of Income [Abstract] | |||
Sales-based taxes included in sales and other operating revenue | [1] | $ 17,980 | $ 19,634 |
[1] | Sales and other operating revenue excludes previously reported sales-based taxes of $17,980 million for 2016 and $19,634 million for 2015. See Note 2: Accounting Changes. |
Consolidated Statement Of Compr
Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Consolidated Statement Of Comprehensive Income [Abstract] | |||
Net income including noncontrolling interests | $ 19,848 | $ 8,375 | $ 16,551 |
Other comprehensive income (net of income taxes) | |||
Foreign exchange translation adjustment | 5,352 | (174) | (9,303) |
Adjustment for foreign exchange translation (gain)/loss included in net income | 234 | (14) | |
Postretirement benefits reserves adjustment (excluding amortization) | (219) | 493 | 2,358 |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | 1,165 | 1,086 | 1,448 |
Unrealized change in fair value of stock investments | 33 | ||
Realized (gain)/ loss from stock investments included in net income | 27 | ||
Total other comprehensive income | 6,532 | 1,405 | (5,451) |
Comprehensive income including noncontrolling interests | 26,380 | 9,780 | 11,100 |
Comprehensive income attributable to noncontrolling interests | 693 | 668 | (496) |
Comprehensive income attributable to ExxonMobil | $ 25,687 | $ 9,112 | $ 11,596 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Current assets | ||
Cash and cash equivalents | $ 3,177 | $ 3,657 |
Notes and accounts receivable, less estimated doubtful amounts | 25,597 | 21,394 |
Inventories | ||
Crude oil, products and merchandise | 12,871 | 10,877 |
Materials and supplies | 4,121 | 4,203 |
Other current assets | 1,368 | 1,285 |
Total current assets | 47,134 | 41,416 |
Investments, advances and long-term receivables | 39,160 | 35,102 |
Property, plant and equipment, at cost, less accumulated depreciation and depletion | 252,630 | 244,224 |
Other assets, including intangibles, net | 9,767 | 9,572 |
Total assets | 348,691 | 330,314 |
Current liabilities | ||
Notes and loans payable | 17,930 | 13,830 |
Accounts payable and accrued liabilities | 36,796 | 31,193 |
Income taxes payable | 3,045 | 2,615 |
Total current liabilities | 57,771 | 47,638 |
Long-term debt | 24,406 | 28,932 |
Postretirement benefits reserves | 21,132 | 20,680 |
Deferred income tax liabilities | 26,893 | 34,041 |
Long-term obligations to equity companies | 4,774 | 5,124 |
Other long-term obligations | 19,215 | 20,069 |
Total liabilities | 154,191 | 156,484 |
Commitments and contingencies | ||
Equity | ||
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 14,656 | 12,157 |
Earnings reinvested | 414,540 | 407,831 |
Accumulated other comprehensive income | (16,262) | (22,239) |
Common stock held in treasury (3,780 million shares in 2017 and 3,871 million shares in 2016) | (225,246) | (230,424) |
ExxonMobil share of equity | 187,688 | 167,325 |
Noncontrolling interests | 6,812 | 6,505 |
Total equity | 194,500 | 173,830 |
Total liabilities and equity | $ 348,691 | $ 330,314 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Consolidated Balance Sheet [Abstract] | ||
Common stock, without par value | ||
Common stock, shares authorized | 9,000 | 9,000 |
Common stock, shares issued | 8,019 | 8,019 |
Common stock held in treasury, shares | 3,780 | 3,871 |
Consolidated Statement Of Cash
Consolidated Statement Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities | |||
Net income including noncontrolling interests | $ 19,848 | $ 8,375 | $ 16,551 |
Adjustments for noncash transactions | |||
Depreciation and depletion | 19,893 | 22,308 | 18,048 |
Deferred income tax charges/(credits) | (8,577) | (4,386) | (1,832) |
Postretirement benefits expense in excess of/(less than) net payments | 1,135 | (329) | 2,153 |
Other long-term obligation provisions in excess of/(less than) payments | (610) | (19) | (380) |
Dividends received greater than/(less than) equity in current earnings of equity companies | 131 | (579) | (691) |
Changes in operational working capital, excluding cash and debt | |||
Reduction/(increase) - Notes and accounts receivable | (3,954) | (2,090) | 4,692 |
Reduction/(increase) - Inventories | (1,682) | (388) | (379) |
Reduction/(increase) - Other current assets | (117) | 171 | 45 |
Increase/(reduction) - Accounts and other payables | 5,104 | 915 | (7,471) |
Net (gain) on asset sales | (334) | (1,682) | (226) |
All other items - net | (771) | (214) | (166) |
Net cash provided by operating activities | 30,066 | 22,082 | 30,344 |
Cash flows from investing activities | |||
Additions to property, plant and equipment | (15,402) | (16,163) | (26,490) |
Proceeds associated with sales of subsidiaries, property, plant and equipment, and sales and returns of investments | 3,103 | 4,275 | 2,389 |
Decrease/(increase) in restricted cash and cash equivalents | 42 | ||
Additional investments and advances | (5,507) | (1,417) | (607) |
Other investing activities including collection of advances | 2,076 | 902 | 842 |
Net cash used in investing activities | (15,730) | (12,403) | (23,824) |
Cash flows from financing activities | |||
Additions to long-term debt | 60 | 12,066 | 8,028 |
Reductions in long-term debt | (26) | ||
Additions to short-term debt | 1,735 | ||
Reductions in short-term debt | (5,024) | (314) | (506) |
Additions/(reductions) in commercial paper, and debt with three months or less maturity | 2,181 | (7,459) | 1,759 |
Cash dividends to ExxonMobil shareholders | (13,001) | (12,453) | (12,090) |
Cash dividends to noncontrolling interests | (184) | (162) | (170) |
Changes in noncontrolling interests | (150) | ||
Tax benefits related to stock-based awards | 2 | ||
Common stock acquired | (747) | (977) | (4,039) |
Common stock sold | 6 | 5 | |
Net cash used in financing activities | (15,130) | (9,293) | (7,037) |
Effects of exchange rate changes on cash | 314 | (434) | (394) |
Increase/(decrease) in cash and cash equivalents | (480) | (48) | (911) |
Cash and cash equivalents at beginning of year | 3,657 | 3,705 | 4,616 |
Cash and cash equivalents at end of year | $ 3,177 | $ 3,657 | $ 3,705 |
Consolidated Statement Of Chang
Consolidated Statement Of Changes In Equity - USD ($) shares in Millions, $ in Millions | Total | ExxonMobil Share Of Common Stock [Member] | ExxonMobil Share Of Earnings Reinvested [Member] | ExxonMobil Share Of Accumulated Other Comprehensive Income [Member] | ExxonMobil Share Of Common Stock Held In Treasury [Member] | ExxonMobil Share Of Equity [Member] | Noncontrolling Interests [Member] |
Balance at Dec. 31, 2014 | $ 181,064 | $ 10,792 | $ 408,384 | $ (18,957) | $ (225,820) | $ 174,399 | $ 6,665 |
Balance (in shares) - issued at Dec. 31, 2014 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2014 | (3,818) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2014 | 4,201 | ||||||
Amortization of stock-based awards | $ 828 | 828 | 828 | ||||
Tax benefits related to stock-based awards | 116 | 116 | 116 | ||||
Other | (124) | (124) | (124) | ||||
Net income for the year | 16,551 | 16,150 | 16,150 | 401 | |||
Dividends - common shares (company) | (12,090) | (12,090) | |||||
Dividends - common shares (NCI) | (170) | ||||||
Dividends - common shares (total) | (12,260) | ||||||
Other comprehensive income | (5,451) | (4,554) | (4,554) | (897) | |||
Acquisitions, at cost (company) | (4,039) | (4,039) | |||||
Acquisitions, at cost (total) | (4,039) | ||||||
Dispositions | $ 125 | 125 | 125 | ||||
Acquisitions (in shares) | (48) | ||||||
Dispositions (in shares) | 3 | ||||||
Balance at Dec. 31, 2015 | $ 176,810 | 11,612 | 412,444 | (23,511) | (229,734) | 170,811 | 5,999 |
Balance (in shares) - issued at Dec. 31, 2015 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2015 | (3,863) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2015 | 4,156 | ||||||
Amortization of stock-based awards | $ 796 | 796 | 796 | ||||
Tax benefits related to stock-based awards | 30 | 30 | 30 | ||||
Other | (281) | (281) | (281) | ||||
Net income for the year | 8,375 | 7,840 | 7,840 | 535 | |||
Dividends - common shares (company) | (12,453) | (12,453) | |||||
Dividends - common shares (NCI) | (162) | ||||||
Dividends - common shares (total) | (12,615) | ||||||
Other comprehensive income | 1,405 | 1,272 | 1,272 | 133 | |||
Acquisitions, at cost (company) | (977) | (977) | |||||
Acquisitions, at cost (total) | (977) | ||||||
Dispositions | $ 287 | 287 | 287 | ||||
Acquisitions (in shares) | (12) | ||||||
Dispositions (in shares) | 4 | ||||||
Balance at Dec. 31, 2016 | $ 173,830 | 12,157 | 407,831 | (22,239) | (230,424) | 167,325 | 6,505 |
Balance (in shares) - issued at Dec. 31, 2016 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2016 | (3,871) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2016 | 4,148 | ||||||
Amortization of stock-based awards | $ 801 | 801 | 801 | ||||
Other | (432) | (380) | (380) | (52) | |||
Net income for the year | 19,848 | 19,710 | 19,710 | 138 | |||
Dividends - common shares (company) | (13,001) | (13,001) | |||||
Dividends - common shares (NCI) | (184) | ||||||
Dividends - common shares (total) | (13,185) | ||||||
Other comprehensive income | 6,532 | 5,977 | 5,977 | 555 | |||
Acquisitions, at cost (company) | (828) | (828) | |||||
Acquisitions, at cost (NCI) | (150) | ||||||
Acquisitions, at cost (total) | (978) | ||||||
Issued for acquisitions | 7,789 | 2,078 | 5,711 | 7,789 | |||
Dispositions | $ 295 | 295 | 295 | ||||
Acquisitions (in shares) | (10) | ||||||
Issued for acquisitions (in shares) | 96 | ||||||
Dispositions (in shares) | 5 | ||||||
Balance at Dec. 31, 2017 | $ 194,500 | $ 14,656 | $ 414,540 | $ (16,262) | $ (225,246) | $ 187,688 | $ 6,812 |
Balance (in shares) - issued at Dec. 31, 2017 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2017 | (3,780) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2017 | 4,239 |
Summary Of Accounting Policies
Summary Of Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Accounting Policies [Abstract] | |
Summary Of Accounting Policies | 1. Summary of Accounting Policies Principles of Consolidation The Consolidated Financial Statements include the accounts of subsidiaries the Corporation controls. They also include the Corporation’s share of the undivided interest in certain upstream assets , liabilities , revenues and expenses . Amounts representing the Corporation’s interest in entities that it does not control, but over which it exercises significant influence, are included in “Investments, advances and long-term receivables” . The Corp oration’s share of the net income of these companies is included in the Consolidated Statement of Income caption “Income from equity affiliates ” . Majority ownership is normally the indicator of control that is the basis on which subsidiaries are consolida ted. However, certain factors may indicate that a majority-owned investment is not controlled and therefore should be accounted for using the equity method of accounting. These factors occur where the minority shareholders are granted by law or by contract substantive participating rights. These include the right to approve operating policies, expense budgets, financing and investment plans, and management compensation and succession plans. Evidence of loss in value that might indicate impairment of invest ments in companies accounted for on the equity method is assessed to determine if such evidence represents a loss in value of the Corporation’s investment that is other than temporary. Examples of key indicators include a history of operating losses, negat ive earnings and cash flow outlook, significant downward revisions to oil and gas reserves, and the financial condition and prospects for the investee’s business segment or geographic region. If evidence of an other than temporary loss in fair value below carrying amount is determined, an impairment is recognized. In the absence of market prices for the investment, discounted cash flows are used to assess fair value. The Corporation’s share of the cumulative foreign exchange translation adjustment for equi ty method investments is reported in Accumulated Other Comprehensive Income . Revenue Recognition The Corporation generally sells crude oil, natural gas and petroleum and chemical products under short-term agreements at prevailing market prices. In some c ases (e.g., natural gas), products may be sold under long-term agreements, with periodic price adjustments. Revenues are recognized when the products are delivered, which occurs when the customer has taken title and has assumed the risks and rewards of own ership, prices are fixed or determinable and collectibility is reasonably assured. Revenues from the production of natural gas properties in which the Corporation has an interest with other producers are recognized on the basis of the Corporation’s net wo rking interest. Differences between actual production and net working interest volumes are not significant. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another are combined and recorded as exch anges measured at the book value of the item sold. Taxes on Sales Transactions Beginning in 2017, the Corporation revised its reporting of certain sales and value-added taxes imposed on and concurrent with revenue-producing transactions with customers an d collected on behalf of governmental authorities (sales-based taxes). This changes reporting of sales-based taxes from gross reporting (included in both “Sales and other operating revenue” and “Sales-based taxes”) to net reporting (excluded from both “Sal es and other operating revenue” and “Sales-based taxes”) in the Con solidated Statement of Income. This change in reporting was applied retrospectively and does not affect earnings. Similar taxes , for which the Corporation is not considered to be an agent for the government , continue to be reported on a gross basis. De rivative Instruments The Corporation has the ability to use derivative instruments to offset exposures associated with commodity prices, foreign currency exchange rates and interest rate s tha t arise from existing assets, liabilities and forecasted transactions. The gains and losses resulting from changes in the fair value of derivatives are recorded in income. T he Corporation may designate derivatives as fair value hedges or cash flow hedges. For fair value hedges, the gain or loss on the derivative and the offsetting loss or gain on the hedged item are recognized in current earnings . For cash flow hedges, the effective part of the hedge is initially reported as a component of other comprehens ive income and subsequently reclassified into earnings in the period that the forecasted transaction affects earnings, and the ineffective part of the hedge is recognized immediately in earnings. Fair Value Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Hierarchy Levels 1, 2 and 3 are terms for the priority of inputs to valuation techniques used to measure fair value. Hierarchy Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Hierarchy Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or l iability. Hierarchy Level 3 inputs are inputs that are not observable in the market . Inventories Crude oil, products and merchandise inventories are carried at the lower of current market value or cost (generally determined under the last-in, first-out met hod – LIFO). Inventory costs include expenditures and other charges (including depreciation) directly and indirectly incurred in bringing the inventory to its existing condition and location. Selling expenses and general and administrative expenses are rep orted as period costs and excluded from inventory cost. Inventories of materials and supplies are valued at cost or less. Property, Plant and Equipment Cost Basis. The Corporation uses the “successful efforts” method to account for its exploration and production activities. Under this method, costs are accumulated on a field-by-field basis. Costs incurred to purchase, lease, or otherwise acquire a property (whether unproved or proved) are capitalized when incurred. Exploratory well costs are carried as an asset when the well has found a sufficient quantity of reserves to justify its completion as a producing well and where the Corporation is making sufficient progress assessing the reserves and the economic and operating viability of the project. Explora tory well costs not meeting these criteria are charged to expense. Other exploratory expenditures, including geophysical costs and annual lease rentals, are expensed as incurred. Development costs, including costs of productive wells and development dry ho les, are capitalized. Depreciation, Depletion and Amortization. Depreciation, depletion and amortization are primarily determined under either the unit-of-production method or the straight-line method, which is based on estimated asset service life taking obsolescence into consideration. Acquisition costs of proved properties are amortized using a unit-of-production method, computed on the basis of total proved oil and gas reserves. Capitalized exploratory drilling and development costs associated with pr oductive depletable extractive properties are amortized using the unit-of-production rates based on the amount of proved developed reserves of oil and gas that are estimated to be recoverable from existing facilities using current operating methods. Under the unit-of-production method, oil and gas volumes are considered produced once they have been measured through meters at custody transfer or sales transaction points at the outlet valve on the lease or field storage tank. In the event that the unit-of-pro duction method does not result in an equitable allocation of cost over the economic life of an upstream asset, an alternative method is used. The straight-line method is used in limited situations where the expected life of the asset does not reasonably co rrelate with that of the underlying reserves. For example, certain assets used in the production of oil and natural gas have a shorter life th an the reserves, and as such, the Corporation use s straight-line depreciation to ensure the asset is fully depreci ated by the end of its useful life. To the extent that proved reserves for a property are substantially de-booked and that property continues to produce such that the resulting depreciation charge does not result in an equitable allocation of cost over the expected life , assets will be depreciated using a unit-of-production method based on reserves determined at the most recent SEC price which result s in a more meaningful quantity of proved reserves, appropriately adjusted for production and technical chang es. Investments in refinery, chemical process, and lubes basestock manufacturing equipment are generally depreciated on a straight -line basis over a 25-year life. Service station buildings and fixed improvements generally are depreciated over a 20-year li fe. Maintenance and repairs, including planned major maintenance, are expensed as incurred. Major renewals and improvements are capitalized and the assets replaced are retired. Impairment Assessment. The Corporation tests assets or groups of assets for re coverability on an ongoing basis whenever events or circumstances indicate that the carrying amounts may not be recoverable. Among the events or changes in circumstances which could indicate that the carrying value of an asset or asset group may not be rec overable are the following: a significant decrease in the market price of a long-lived asset; a significant adverse change in the extent or manner in which an asset is being used or in its physical condition including a significant decrease in current and projected reserve volumes; a significant adverse change in legal factors or in the business climate that could affect the value, including an adverse action or assessment by a regulator; an accumulation of project costs significantly in excess of the amount originally expected; a current-period operating loss combined with a history and forecast of operating or cash flow losses; and a current expectation that, more likely than not, a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. Asset valuation analyses performed as part of its asset management program and other profitability reviews assist the Corporation in assessing whether events or circumstances indicate the carrying amo unts of any of its assets may not be recoverable. In general, the Corporation does not view temporarily low prices or margins as an indication of impairment. Management believes that prices over the long term must be sufficient to generate investments in energy supply to meet global demand. Although prices will occasionally drop significantly, industry prices over the long term will continue to be driven by market supply and demand fundamentals. On the supply side, industry production from mature fields is declining. This is being offset by investments to generate production from new discoveries, field developments and technology and efficiency advancements. OPEC investment activities and production policies also have an impact on world oil supplies. The de mand side is largely a function of general economic activities and levels of prosperity. Because the lifespans of the vast majority of the Corporation’s major assets are measured in decades, the value of these assets is predominantly based on long-term vie ws of future commodity prices and production costs. During the lifespan of these major assets, the Corporation expects that oil and gas prices will experience significant volatility, and consequently these assets will experience periods of higher earnings and periods of lower earnings, or even losses. In assessing whether the events or changes in circumstances indicate the carrying value of an asset may not be recoverable, the Corporation considers recent periods of operating losses in the context of its lo nger-term view of prices. While near-term prices are subject to wide fluctuations, longer-term price views are more stable and meaningful for purposes of assessing future cash flows. When the industry experiences a prolonged and deep reduction in commodity prices, the market supply and demand conditions may result in changes to the Corporation’s long-term price or margin assumptions it uses for its capital investment decisions. To the extent those changes result in a significant reduction to its long-term o il price, natural gas price or margin ranges, the Corporation may consider that situation, in conjunction with other events and changes in circumstances such as a history of operating losses, an indicator of potential impairment for certain assets. In the Upstream, the standardized measure of discounted cash flows included in the Supplemental Information on Oil and Gas Exploration and Production activities is required to use prices based on the average of first-of-month prices. These prices represent discre te points in time and could be higher or lower than the Corporation’s long-term price assumptions which are used for impairment assessments. The Corporation believes the standardized measure does not provide a reliable estimate of the expected future cash flows to be obtained from the development and production of its oil and gas properties or of the value of its oil and gas reserves and therefore does not consider it relevant in determining whether events or changes in circumstances indicate the need for a n impairment assessment. If events or circumstances indicate that the carrying value of an asset may not be recoverable, the Corporation estimates the future undiscounted cash flows of the affected properties to judge the recoverability of carrying amounts . In performing this assessment, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets. Cash flows used in recoverability assessments are based on the Cor poration’s assumptions which are developed in the annual planning and budgeting process, and are consistent with the criteria management uses to evaluate investment opportunities. These evaluations make use of the Corporation’s assumptions of future capita l allocations, crude oil and natural gas commodity prices, refining and chemical margins, volumes, costs, and foreign currency exchange rates. Volumes are based on projected field and facility production profiles, throughput, or sales. Where unproved reser ves exist, an appropriately risk-adjusted amount of these reserves may be included in the evaluation. Cash flow estimates for impairment testing exclude the effects of derivative instruments. An asset group is impaired if its estimated undiscounted cash fl ows are less than the asset’s carrying value. Impairments are measured by the amount by which the carrying value exceeds fair value. Fair value is based on market prices if an active market exists for the asset group, or discounted cash flows using a disco unt rate commensurate with the risk. Significant unproved properties are assessed for impairment individually, and valuation allowances against the capitalized costs are recorded based on the estimated economic chance of success and the length of time that the Corporation expects to hold the properties. Properties that are not individually significant are aggregated by groups and amortized based on development risk and average holding period. Other. Gains on sales of proved and unproved properties are only recognized when there is neither uncertainty about the recovery of costs applicable to any interest retained nor any substantial obligation for future performance by the Corporation. Losses on properties sold are recognized when incurred or when the prope rties are held for sale and the fair value of the properties is less than the carrying value. Interest costs incurred to finance expenditures during the construction phase of multiyear projects are capitalized as part of the historical cost of acquiring th e constructed assets. The project construction phase commences with the development of the detailed engineering design and ends when the constructed assets are ready for their intended use. Capitalized interest costs are included in property, plant and equ ipment and are depreciated over the service life of the related assets. Asset Retirement Obligations and Environmental Liabilities The Corporation incurs retirement obligations for certain assets. The fair values of these obligations are recorded as liabilities on a discounted basis , which is typically at the time the assets are installed. The costs associated with these liabilities are capitalized as part of the related assets and depreciated. Over time, the liabilities are accreted for the change in their present value. Liabilities for environmental costs are recorded when it is probable that obligations have been incurred and the amounts can be reasonably estimated. These liabilities are not reduced by possible recoveries from third parties , and pr ojected cash expenditures are not discounted. Fo reign Currency Translation The Corporation selects the functional reporting currency for its international subsidiaries based on the currency of the primary economic environment in which each subsidiary ope rates. Downstream and Chemical operations primarily use the local currency. However, the U.S. dollar is used in countries with a history of high inflation (primarily in Latin America) and Singapore, which predominantly sells into the U.S. dollar export ma rket. Upstream operations which are relatively self-contained and integrated within a particular country, such as Canada, the United Kingdom, Norway and continental Europe, use the local currency. Some Upstream operations, primarily in Asia and Africa, use the U.S. dollar because they predominantly sell crude and natural gas production into U.S. dollar-denominated markets. For all operations, gains or losses from remeasuring foreign currency transactions into the functional currency are included in income. Stock-Based Payments The Corporation awards stock-based compensation to employees in the form of restricted stock and restricted stock units. Compensation expense is measured by the price of the stock at the date of grant and is recognized in income ove r the requisite service period. |
Accounting Changes
Accounting Changes | 12 Months Ended |
Dec. 31, 2017 | |
New Accounting Pronouncements And Changes In Accounting Principles [Abstract] | |
Accounting Changes [Text Block] | 2. Accounting Changes Effective December 31, 2017, the Corporation revised its accounting policy election related to the reporting of 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 ) . This changes reporting of sales-based taxes from gross reporting (included in both “Sales and other operating revenue” and “Sales-based taxes”) to the preferable method of net reporting ( excluded from both “Sales and other operating revenue” and “Sales-based taxes”) in the Consolidated Statement of Incom e. The revised election makes reported revenue more consistent with ExxonMobil’s role as an agent for the government and is more consisten t with the reporting practices of other international major oil and gas companies and the largest U.S. companies. Thi s change in accounting principle was applied retrospectively and does not affect net income attributable to ExxonMobil. Also effective Decembe r 31, 2017, the Corporation reclassified U.S. Federal excise tax from “Sales-based taxes ” to “Other taxes and duties”. For t hese taxes ExxonMobil is not considered to be an agent for the government and these taxes will continue to be reported gross. The am ount reclassified was $3,110 million in 2016 and $3,044 million in 2015. This change in classification was applied retrospectively and does not affect net income attributable to ExxonMobil. 2016 2015 As Reported Change As Adjusted As Reported Change As Adjusted (millions of dollars) Sales and other operating revenue 218,608 (17,980) 200,628 259,488 (19,634) 239,854 Sales-based taxes 21,090 (21,090) - 22,678 (22,678) - Other taxes and duties 25,910 3,110 29,020 27,265 3,044 30,309 Effective January 1, 2018, ExxonMobil adopted the Financial Accounting Standards Board’s standard, Revenue from Contracts with Customers, as a mended. The standard establishes a single revenue recognition model for all contracts with customers, eliminates industry and transaction specific requirements, and expands disclosure re quirements. The standard was adopted using the Modified Retrospective method, under which prior year results are not restated, but supplemental information on the impact of the new st andar d must be provided for 2018 results, if material. The standard is not expected to have a material impact on the Corporation’s financial statements. The cumulative effect of adoption of the new standard is de minimis. Effective January 1, 2018, ExxonMo bil adopted the Financial Accounting Standards Board ’s Update, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The standard requires investments in equity securities other than con solidated subsidiaries and equity method investments to be measured at fair value with changes in the fair value recognized through net income. Companies can elect a modified approach for equity securities that do not have a readily determinable fair value . The standard is not expected to have a material impact on the Corporation’s financial statements. Effective January 1, 2018, ExxonMobil adopt ed the Financial Accounting Standards Board ’s Update , Compensation – Retirement Benefits (Topic 715): Improving t he Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . The update requires the service cost component of net benefit costs to be reported in the same line of the income statement as other compensation costs and the other components of net benefit costs (non-service costs) to be presen ted separately from the service cost component. Additionally, only the service cost compon ent of net benefit costs is eligible for capitalization. The Corporation expects to add a ne w line “N on-service pension and postretirement benefit expense” to its Consolidated Statement of Income and expects to include all of these costs in its Corporate and financing segment. This line would reflect the non-service costs that were previously included in “Production and manufacturing expenses” and “Selling, general and admin istrative expenses”. The update is not expected to have a material impact on the Corporation’s financial statements. Effective January 1, 2019 , ExxonMobil will adopt the Financial Acco unting Standards Board’s standard , Leases . The st andard requires all leases with an initial term greater than one year be recorded on the balance sheet as an asset and a lease liab il ity. The Corporation is gathering and evaluating data and recently acquired a system to facilitate implementation . We are progressing an assessment of the magnitude of the effect on the Corporati on’s financial statements. |
Miscellaneous Financial Informa
Miscellaneous Financial Information | 12 Months Ended |
Dec. 31, 2017 | |
Miscellaneous Financial Information [Abstract] | |
Miscellaneous Financial Information | 3. Miscellaneous Financial Information Re search and development expenses totaled $1,063 million in 2017, $1,058 million in 2016, and $ 1,008 million in 201 5 . Net income included before - tax aggregate foreign exchange transacti on gains of $6 million in 2017 and $29 million in 2016, and a loss of $119 million in 2015 . In 2017, 2016, and 2015 , net income included losses of $10 million, $ 2 95 million, and $186 million, respectively, attributable to the combined effects of LIFO i nventory accumulations and dr aw downs. The aggregate replacement cost of inventories was estimated to exceed their LIFO carrying values by $10.8 billion and $ 8.1 billion at December 31, 201 7 , and 201 6 , respectively . Crude oil, products and merchandise as of year-end 201 7 and 201 6 consi st of the following: 2017 2016 (billions of dollars) Crude oil 4.6 3.9 Petroleum products 4.3 3.7 Chemical products 3.3 2.8 Gas/other 0.7 0.5 Total 12.9 10.9 |
Other Comprehensive Income Info
Other Comprehensive Income Information | 12 Months Ended |
Dec. 31, 2017 | |
Other Comprehensive Income Information [Abstract] | |
Other Comprehensive Income Information | 4 . Other Comprehensive Income Information Cumulative Post- Foreign retirement Unrealized Exchange Benefits Change in ExxonMobil Share of Accumulated Other Translation Reserves Stock Comprehensive Income Adjustment Adjustment Investments Total (millions of dollars) Balance as of December 31, 2014 (5,952) (12,945) (60) (18,957) Current period change excluding amounts reclassified from accumulated other comprehensive income (8,204) 2,202 33 (5,969) Amounts reclassified from accumulated other comprehensive income (14) 1,402 27 1,415 Total change in accumulated other comprehensive income (8,218) 3,604 60 (4,554) Balance as of December 31, 2015 (14,170) (9,341) - (23,511) Current period change excluding amounts reclassified from accumulated other comprehensive income (331) 552 - 221 Amounts reclassified from accumulated other comprehensive income - 1,051 - 1,051 Total change in accumulated other comprehensive income (331) 1,603 - 1,272 Balance as of December 31, 2016 (14,501) (7,738) - (22,239) Current period change excluding amounts reclassified from accumulated other comprehensive income 4,879 (170) - 4,709 Amounts reclassified from accumulated other comprehensive income 140 1,128 - 1,268 Total change in accumulated other comprehensive income 5,019 958 - 5,977 Balance as of December 31, 2017 (9,482) (6,780) - (16,262) Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) 2017 2016 2015 (millions of dollars) Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) (234) - 14 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (1) (1,656) (1,531) (2,066) Realized change in fair value of stock investments included in net income (Statement of Income line: Other income) - - (42) (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 17 – Pension and Other Postretirement Benefits for additional details.) Income Tax (Expense)/Credit For Components of Other Comprehensive Income 2017 2016 2015 (millions of dollars) Foreign exchange translation adjustment 67 43 170 Postretirement benefits reserves adjustment (excluding amortization) 201 (247) (1,192) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (491) (445) (618) Unrealized change in fair value of stock investments - - (17) Realized change in fair value of stock investments included in net income - - (15) Total (223) (649) (1,672) |
Cash Flow Information
Cash Flow Information | 12 Months Ended |
Dec. 31, 2017 | |
Cash Flow Information [Abstract] | |
Cash Flow Information | 5. Cash Flow Information The Consolidated Statement of Cash Flows provides information about changes in cash and cash equivalents. Highly liquid investments with maturities of three months or less when acquired are classified as cash equivalents. For 201 7 , the “Net (gain) on asset sales” on the Consolidated Statement of Cash Flows includes before-tax amounts from the sale of service stations in multiple countries , Upstream asset transactions in the U.S., and the sale of ExxonMobil’s operated Upstream b usiness in Norway . For 2016 , the number includes before-tax amounts from the sale of service stations in Canada, the sale of Upstream properties in the U.S., and the sale of aviation fueling operations across multiple countries. For 2015, the number includ es before-tax amounts from the sale of service stations in Europe, the sale of Upstream properties in the U.S., the sal e of ExxonMobil’s interests in Chemical and Refining joint ventures, and the sale of the Torrance refinery. These net gains are reported in “Other income” on the Consolidated Statement of Income. In 201 7 , the “Additions/(reductions) in commercial paper, and debt with three months or less maturity” on the Consolidated Statement of Cash Flows includes a net $121 million repayment of commercia l paper with maturity over three months . The gross amount issued was $ 3.6 billion, while the gross amount repaid was $ 3.7 billion. In 201 6 , the number includes a net $608 million addition of commercial paper with maturity over three months . The gross amoun t issued was $ 3 . 9 billion, while the gross amount repaid was $ 3 . 3 billion. In 2015, the number includes a net $358 million addition of commercial paper with maturity over three months. The gross amount issued was $8.1 billion, while the gross amount repaid was $7.7 billion. In 2017, the Corporation completed the acquisitions of InterOil Corporation and of companies that own certain oil and gas properties in the Permian basin and other assets. These transactions included a significant non cash component. Add itional information is provided in Note 20. In 2015, ExxonMobil completed an asset exchange that resulted in value received of approximat ely $500 million including $100 million in cash. The non cash portion was not included in the “Sales of subsidiaries, i nvestments, and property, plant and equipment” or the “All other items-net” lines on the Statement of Cash Flows. Capital leases of approximately $1 billion were not included in the “Additions to long-term debt” or “Additions to property, plant and equipme nt” lines on the Statement of Cash Flows. 2017 2016 2015 (millions of dollars) Cash payments for interest 1,132 818 586 Cash payments for income taxes 7,510 4,214 7,269 |
Additional Working Capital Info
Additional Working Capital Information | 12 Months Ended |
Dec. 31, 2017 | |
Additional Working Capital Information [Abstract] | |
Additional Working Capital Information | 6 . Additional Working Capital Information Dec. 31 Dec. 31 2017 2016 (millions of dollars) Notes and accounts receivable Trade, less reserves of $72 million and $75 million 21,274 16,033 Other, less reserves of $539 million and $627 million 4,323 5,361 Total 25,597 21,394 Notes and loans payable Bank loans 115 143 Commercial paper 13,049 10,727 Long-term debt due within one year 4,766 2,960 Total 17,930 13,830 Accounts payable and accrued liabilities Trade payables 21,701 17,801 Payables to equity companies 5,453 4,748 Accrued taxes other than income taxes 3,311 2,653 Other 6,331 5,991 Total 36,796 31,193 The Corporation has short-term c ommitted lines of credit of $5.4 billion which were unused as of December 31, 2017. T hese lines are available for general corporate purposes . The weighted-average interest rate on short-term borrowings outstanding was 1.3 percent and 0 . 6 percent at December 31, 201 7 , and 201 6 , respectively. |
Equity Company Information
Equity Company Information | 12 Months Ended |
Dec. 31, 2017 | |
Equity Company Information [Abstract] | |
Equity Company Information | 7. Equity Company Information The summarized financial information below includes amounts related to certain less-than-majority-owned companies and majority-owned subsidiaries where minority shareholders possess the right to participate in significant management decisions (see Note 1). These companies are primarily engaged in oil and gas exploration and production, and natural gas marketing in North America; natural gas exploration, production and distribution in Europe; and exploration , production, liq uefied natural gas (LNG) operations, refining operations, petrochemical manufacturing, and fuel sales in Asia and the Middle East . Also included are several refining, petrochemical manufacturing and marketing ventures. The share of total equity company re venues from sales to ExxonMobil consolidated companies was 15 percent, 14 percent and 15 percent in the years 2017, 2016 and 2015 , res pectively. The Corporation’s ownership in these ventures is in the form of shares in corporate joint ventures as well as i nterests in partnerships. Differences between the company’s carrying value of an equity investment and its underlying equity in the net assets of the affiliate are assigned to the extent practicable to specific assets and liabilities based on the company’s analysis of the factors giving rise to the difference. The amortization of this difference, as appropriate, is included in “Income from equity affiliates” on the Consolidated Statement of Income. In 2013 and 2014, the Corporation and Rosneft established various entities to conduct exploration and research activities. In 2014, the European Union and United States imposed sanctions relating to the Russian energy sector. In the latter half of 2017, the United States codified and expanded sanctions against Ru ssia. With respect to the foregoing, the Corporation and its affiliates continue to comply with all applicable laws, rules and regulations. In late 2017, the Corporation de cided to withdraw from these joint ventures. The Corporation expects it will formally initiate the withdrawal in 2018. The decision to withdraw resulted in an after-tax loss of $0.2 billion . In 2017, t he Corporation invested about $3 billion to acquire shares in four joint ventu re companies, resulting in a 25 percent indirect interest in the natural gas -rich Area 4 block offshore Mozambique. The transaction was completed on December 13, 2017. The investments are accounted for using the equity method of accounting. 2017 2016 2015 Equity Company ExxonMobil ExxonMobil ExxonMobil Financial Summary Total Share Total Share Total Share (millions of dollars) Total revenues 94,791 29,340 80,247 24,668 111,866 34,297 Income before income taxes 29,748 8,498 22,269 6,509 36,379 10,670 Income taxes 8,421 2,236 6,334 1,701 11,048 3,019 Income from equity affiliates 21,327 6,262 15,935 4,808 25,331 7,651 Current assets 35,367 12,050 34,412 11,392 32,879 11,244 Long-term assets 122,221 34,931 109,646 32,357 109,684 32,878 Total assets 157,588 46,981 144,058 43,749 142,563 44,122 Current liabilities 21,725 6,348 20,507 5,765 22,947 6,738 Long-term liabilities 59,736 17,056 62,110 17,288 60,388 17,165 Net assets 76,127 23,577 61,441 20,696 59,228 20,219 A list of significant equity companies as of December 31, 201 7 , together with the Corporation’s percentage ownership interest, is detailed below: Percentage Ownership Interest Upstream Aera Energy LLC 48 Barzan Gas Company Limited 7 BEB Erdgas und Erdoel GmbH & Co. KG 50 Cameroon Oil Transportation Company S.A. 41 Cross Timbers Energy, LLC 50 Golden Pass LNG Terminal LLC 18 Marine Well Containment Company LLC 10 Mozambique Rovuma Venture, S.p.A. 36 Nederlandse Aardolie Maatschappij B.V. 50 Qatar Liquefied Gas Company Limited (2) 24 Ras Laffan Liquefied Natural Gas Company Limited 25 Ras Laffan Liquefied Natural Gas Company Limited (II) 31 Ras Laffan Liquefied Natural Gas Company Limited (3) 30 South Hook LNG Terminal Company Limited 24 Tengizchevroil, LLP 25 Terminale GNL Adriatico S.r.l. 71 Downstream Fujian Refining & Petrochemical Co. Ltd. 25 Permian Express Partners LLC 12 Saudi Aramco Mobil Refinery Company Ltd. 50 Chemical Al-Jubail Petrochemical Company 50 Infineum Italia s.r.l. 50 Infineum Singapore Pte. Ltd. 50 Infineum USA L.P. 50 Saudi Yanbu Petrochemical Co. 50 |
Investments, Advances And Long-
Investments, Advances And Long-Term Receivables | 12 Months Ended |
Dec. 31, 2017 | |
Investments, Advances And Long-Term Receivables [Abstract] | |
Investments, Advances And Long-Term Receivables | 8 . Investments, Advances and Long-Term Recei vables Dec. 31, Dec. 31, 2017 2016 (millions of dollars) Companies carried at equity in underlying assets Investments 24,354 20,810 Advances 9,112 9,443 Total equity company investments and advances 33,466 30,253 Companies carried at cost or less and stock investments carried at fair value 174 154 Long-term receivables and miscellaneous investments at cost or less, net of reserves of $5,432 million and $4,141 million 5,520 4,695 Total 39,160 35,102 |
Property, Plant And Equipment A
Property, Plant And Equipment And Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant And Equipment And Asset Retirement Obligations [Abstract] | |
Property, Plant And Equipment And Asset Retirement Obligations | 9 . Property, Plant and Equipment and Asset Retirement Obligations December 31, 2017 December 31, 2016 Property, Plant and Equipment Cost Net Cost Net (millions of dollars) Upstream 371,904 200,291 355,265 195,904 Downstream 50,343 21,732 47,915 20,588 Chemical 37,966 20,117 34,098 17,401 Other 16,972 10,490 16,637 10,331 Total 477,185 252,630 453,915 244,224 The Corporation has a robust process to monitor for indicators of potential impairment across its asset groups throughout the year. This process is aligned with the requirements of ASC 360 and relies in part on the Corporation’s planning and budgeting cycle. As part of its 2017 annual planning and budgeting cycle, the Corporation identified emerging trends such as increasing estimates of available natural gas supplies and ongoing reductions in the industry’s costs of supply for natural gas that resulted in a reduction to the Corporation’s long-te rm natural gas price outlooks. Based in part on these trends, the Corporation concluded that events and circumstances indicated that the carrying value of certain long-lived assets, notably North America natural gas assets and certain other assets across the remainder of its Upstream operations, may not be recoverable. Accordingly, an impairment assessment was performed which indicated that the vast majority of asset groups assessed have future undiscounted cash f low estimates that exceed their carrying values. However, the carrying values for certain asset groups in the United States exceeded the estimated cash flows. As a result, the Corporation’s fourth quarter 2017 results include a before-tax charge of $0.8 bi llion to reduce the carrying value of those assets to fair value. The asset groups subject to this impairment charge are primarily dry gas operations with little additional development potential. In addition, the Corporation made a decision to cease develo pment planning activities and further allocation of capital to certain non-producing assets outside the United States resulting in a before-tax charge of $0.9 billion to reduce the carrying value of those assets that are included in Property, Plant and Equ ipment. O ther impairments during t he year resulted in a before-tax charge of $0.3 billion. The impairment charges are recognized primarily in the line “Depreciation and depletion” on the Consolidated Statement of Income. The assessment of fair values requi red the use of Level 3 inputs and assumptions that are based upon the views of a likely market participant. The principal parameters used to establish fair values included estimates of both proved and unproved reserves, future commodity prices which were c onsistent with the average of third-party industry experts and government agencies, drilling and development costs, discount rates ranging from 5.5 percent to 8 percent depending on the characteristics of the asset group, and comparable market transactions . Factors which could put further assets at risk of impairment in the future include reductions in the Corporation’s long-term price outlooks, changes in the allocation of capital, and operating cost increases which exceed the pace of efficiencies or the p ace of oil and natural gas price increases. However, due to the inherent difficulty in predicting future commodity prices, and the relationship between industry prices and costs, it is not practicable to reasonably estimate the existence or range of any po tential future impairment charges related to the Corporation’s long-lived assets. Accumulated depr eciation and depletion totaled $224,555 million at the end of 201 7 and $ 209,691 million at the end of 201 6 . Interest capitalized in 201 7 , 201 6 and 20 15 was $ 7 49 million, $708 million and $482 million, respectively. Asset Retirement Obligations The Corporation incurs retirement obligations for certain assets. The fair values of these obligations are recorded as liabilities on a discounted basis, which is typically at the time the assets are installed. In the estimation of fair value, t he Corporation uses assumpti ons and judgments regarding such factors as the existence of a legal obligation for an asset retirement obligation; technical assessments of the assets; estimated amounts and timing of settlements; dis count rates; and inflation rates. Asset retirement obligations incurred in the current period wer e Level 3 fair value measurements. The costs associated with these liabilities are capitalized as part of the related assets and depreciated as the reserves ar e produced. Over time, the liabilities are accreted for the change in their present value. Asset retirement obligations for downstream and chemical facilities generally become firm at the time the facilities are permanently shut down and dismantled. These obligations may include the costs of asset disposal and additional soil remediation. However, these sites have indeterminate lives based on plans for continued operations and as such, the fair value of the conditional legal obligations cannot be measured, since it is impossible to estimate the future settlement dates of such obligations. The following table summarizes the activity in the liability for asset retirement obligations : 2017 2016 (millions of dollars) Beginning balance 13,243 13,704 Accretion expense and other provisions 780 740 Reduction due to property sales (906) (134) Payments made (730) (549) Liabilities incurred 128 204 Foreign currency translation 611 (513) Revisions (421) (209) Ending balance 12,705 13,243 The long-term Asset Retirement Obligations were $11,928 million and $12,352 million at December 31, 2017, and 2016, respectively, and are included in Other long-term obligations. |
Accounting For Suspended Explor
Accounting For Suspended Exploratory Well Costs | 12 Months Ended |
Dec. 31, 2017 | |
Accounting For Suspended Exploratory Well Costs [Abstract] | |
Accounting For Suspended Exploratory Well Costs | 10. Accounting for Suspended Exploratory Well Costs The Corporation continues capitalization of exploratory well costs when the well has found a sufficient quantity of reserves to justify its completion as a producing well and the Corporation is making sufficient progress assessing the reserves and the economic and oper ating viability of the project. The term “project” as used in this report can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. The following two tables provide details of the changes in the balance of suspended exploratory well costs as well as an aging summary of those costs. Change in capitalized suspended exploratory well costs: 2017 2016 2015 (millions of dollars) Balance beginning at January 1 4,477 4,372 3,587 Additions pending the determination of proved reserves 906 180 847 Charged to expense (1,205) (111) (5) Reclassifications to wells, facilities and equipment based on the determination of proved reserves (497) - (43) Divestments/Other 19 36 (14) Ending balance at December 31 3,700 4,477 4,372 Ending balance attributed to equity companies included above 306 707 696 Period end capitalized suspended exploratory well costs: 2017 2016 2015 (millions of dollars) Capitalized for a period of one year or less 906 180 847 Capitalized for a period of between one and five years 1,345 2,981 2,386 Capitalized for a period of between five and ten years 1,064 911 826 Capitalized for a period of greater than ten years 385 405 313 Capitalized for a period greater than one year - subtotal 2,794 4,297 3,525 Total 3,700 4,477 4,372 Exploration activity often involves drilling multiple wells, over a number of years, to fully evaluate a project. The table below provides a breakdown of the n umber of projects with only exploratory well costs capitalized for a period of one year or less and those that have had exploratory well costs capitalized for a period greater than one year . 2017 2016 2015 Number of projects that only have exploratory well costs capitalized for a period of one year or less 11 2 4 Number of projects that have exploratory well costs capitalized for a period of greater than one year 46 58 55 Total 57 60 59 Of the 46 projects that have exploratory well costs capitalized for a period greater than one year as of December 31, 201 7 , 10 projects have drilling in the preceding year or exploratory activity planned in the next two years , while t he remaining 36 projects are those with completed exploratory activity progressing toward development. The table below provides additional detail for those 36 projects, which total $ 1,639 million. Years Dec. 31, Wells Country/Project 2017 Drilled Comment (millions of dollars) Angola - AB32 Central NE Hub 69 2006 - 2014 Evaluating development plan for tieback to existing production facilities. - Kaombo Split Hub 20 2005 - 2006 Evaluating development plan to tie into planned production facilities. Phase 2 - Perpetua-Zinia-Acacia 15 2008 - 2009 Oil field near Pazflor development, awaiting capacity in existing/planned infrastructure. Argentina - La Invernada 72 2014 Evaluating development plan to tie into planned infrastructure. Australia - East Pilchard 8 2001 Gas field near Kipper/Tuna development, awaiting capacity in existing/ planned infrastructure. - SE Longtom 12 2010 Gas field near Tuna development, awaiting capacity in existing/planned infrastructure. - SE Remora 36 2010 Gas field near Marlin development, awaiting capacity in existing/planned infrastructure. Indonesia - Kedung Keris 11 2011 Development activity under way to tie into planned production facilities. Iraq - Kurdistan Pirmam 109 2015 Evaluating commercialization alternatives, while waiting for government approval to enter Gas Holding Period. Kazakhstan - Kairan 53 2004 - 2007 Evaluating commercialization and field development alternatives, while continuing discussions with the government regarding the development plan. - Kalamkas 18 2006 - 2009 Evaluating development alternatives, while continuing discussions with the government regarding development plan. Malaysia - Bindu 2 1995 Awaiting capacity in existing/planned infrastructure. Nigeria - Bolia 15 2002 - 2006 Evaluating development plan, while continuing discussions with the government regarding regional hub strategy. - Bosi 79 2002 - 2006 Development activity under way, while continuing discussions with the government regarding development plan. - Bosi Central 16 2006 Development activity under way, while continuing discussions with the government regarding development plan. - Erha Northeast 26 2008 Evaluating development plan for tieback to existing production facilities. - OML 138 Ukot SW 41 2014 Evaluating development plan for tieback to existing production facilities. - OML 138 Ukot SS 13 2015 Evaluating development plan for tieback to existing production facilities. - Pegi 32 2009 Awaiting capacity in existing/planned infrastructure. - Satellite Field 12 2013 Evaluating development plan to tie into planned production facilities. Development Phase 2 - Other (3 projects) 7 2002 Evaluating and pursuing development of several additional discoveries. Norway - Gamma 14 2008 - 2009 Evaluating development plan for tieback to existing production facilities. - Lavrans 16 1995 - 1999 Evaluating development plan, awaiting capacity in existing Kristin production facility. - Other (7 projects) 27 2008 - 2014 Evaluating development plans, including potential for tieback to existing production facilities. Papua New Guinea - Juha 28 2007 Progressing development plans to tie into existing LNG facilities. Years Dec. 31, Wells Country/Project 2017 Drilled Comment (millions of dollars) Republic of Congo - Mer Tres Profonde Sud 56 2000 - 2007 Evaluating development alternatives, while continuing discussions with the government regarding development plan. Romania - Neptun Deep 536 2012 - 2016 Continuing discussions with the government regarding development plan. Vietnam - Blue Whale 296 2011 - 2015 Development planning activity under way, while continuing commercial discussions with the government. Total 2017 (36 projects) 1,639 |
Leased Facilities
Leased Facilities | 12 Months Ended |
Dec. 31, 2017 | |
Leased Facilities [Abstract] | |
Leased Facilities | 11. Leased Facilities At December 31, 2017 , the Corporation and its consolidated subsidiaries held noncancelable operating charters and leases covering drilling equipment, tankers, service stations and other properties with minimum undiscounted lease commitments totaling $ 4 , 290 million as indicated in the table. Estimated re lated sublease rental income from noncance lable subleases totals $ 3 6 million. Lease Payments Under Minimum Commitments Drilling Rigs and Related Equipment Other Total (millions of dollars) 2018 169 767 936 2019 131 537 668 2020 101 397 498 2021 70 297 367 2022 41 259 300 2023 and beyond 99 1,422 1,521 Total 611 3,679 4,290 Net rental cost under both cancelable and noncancelable operating leases incurred during 2017 , 2016 and 2015 were as follows : 2017 2016 2015 (millions of dollars) Rental cost Drilling rigs and related equipment 792 1,274 1,853 Other (net of sublease rental income) 1,826 1,817 2,076 Total 2,618 3,091 3,929 |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 1 2 . Earnings Per Share Earnings per common share 2017 2016 2015 Net income attributable to ExxonMobil (millions of dollars) 19,710 7,840 16,150 Weighted average number of common shares outstanding (millions of shares) 4,256 4,177 4,196 Earnings per common share (dollars) (1) 4.63 1.88 3.85 Dividends paid per common share (dollars) 3.06 2.98 2.88 (1) The earnings per common share and earnings per common share - assuming dilution are the same in each period shown . |
Financial Instruments And Deriv
Financial Instruments And Derivatives | 12 Months Ended |
Dec. 31, 2017 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments And Derivatives | 13. Financial Instruments and Derivatives Financial Instruments. The fair value of financial instruments is determined by reference to observable market data and other valuation techniques as appropriate. The only category of financial instruments where the difference between fair value and recorded book value is notab le is long-term debt. The estimated fair value of total long-term debt, excluding capital ized lease obligations, was $23.7 billion and $28.0 billion at December 31, 201 7 , and 201 6 , respectively, as compared to recorded book values of $23.1 billion and $27.7 billion at December 31, 2017, and 2016 , respectively. The fair value of long-term debt by hierarchy level at Decem ber 31, 2017 , is: Level 1 $23,529 million; Level 2 $170 million; and Level 3 $6 million. Derivative Instruments. The Corporation’s size, strong capital structure, geographic diversity and the complementary nature of the Upstream, Downstream and Chemical businesses reduce the Corporation’s enterprise-wide risk from changes in interest rates, currency rates and commodity prices . In addition, the Corporation uses commodity-based contracts, including derivatives, to manage commodity price risk and for trading purposes. Credit risk associated with the Corporation’s derivative position is mitigated by several factors, including the use of derivative clearing exchanges and the quality of and financial limits placed on derivative counterparties. T he Corporation believes that there are no material market or credit risks to the Corporation’s financial position, results of operations or liquidity as a result of the derivatives. The Corporation maintains a system of controls that includes the authorization, reporting and monitoring of derivative activity. The estimated fair value of derivative instruments outstanding and recorded on the balance sheet was a net liability of $ 38 million at year-end 201 7 and a net liability of $ 22 million at year-end 201 6 . Assets and liabilities associated with derivatives are usually recorded either in “Other current assets” or “Accounts payable and accrued liabilities ” . The Corporation’s fair value measurement of its derivative instruments use either Level 1 or Level 2 inputs . The Corporation recognized a before-tax gain or (loss) related to derivative instruments of $ (99) million, $ (81) million and $ 39 million during 201 7 , 201 6 and 20 15 , respectively. Income statement effects associated with derivatives are usually recorded either in “Sales and other operating revenue” or “ Crude oil and product purchases ” . |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2017 | |
Long-Term Debt [Abstract] | |
Long-Term Debt | 14. Long-Term Debt At December 31, 201 7 , long-term debt consisted of $23,736 million due in U.S. dollars and $670 million representing the U.S. dollar equivalent at year-end exchange rates of amounts payable in foreign currencies. These amounts exclude that portion of long-term debt, totaling $4,766 million, which matures within one year and is included in current liabilities. The amounts of long-term deb t, including capitalized lease obligations, maturing in each of the fo ur years after December 31, 201 8 , in millions of dollars, are: 201 9 – $4,045 ; 2020 – $1,617 ; 2021 – $2,549 ; and 2022 – $1,835 . At December 31, 2017, the Corporation’s unused long-term credit lines were $0.2 billion. Sum marized long-term debt at year-end 201 7 and 20 16 are shown in the table below: Average Rate (1) 2017 2016 (millions of dollars) Exxon Mobil Corporation 1.305% notes due 2018 - 1,600 1.439% notes due 2018 - 1,000 Floating-rate notes due 2018 (Issued 2016) - 750 Floating-rate notes due 2018 (Issued 2015) - 500 1.819% notes due 2019 1,750 1,750 1.708% notes due 2019 1,250 1,250 Floating-rate notes due 2019 (Issued 2014) 1.345% 500 500 Floating-rate notes due 2019 (Issued 2016) 1.953% 250 250 1.912% notes due 2020 1,500 1,500 2.222% notes due 2021 2,500 2,500 2.397% notes due 2022 1,150 1,150 Floating-rate notes due 2022 1.557% 500 500 2.726% notes due 2023 1,250 1,250 3.176% notes due 2024 1,000 1,000 2.709% notes due 2025 1,750 1,750 3.043% notes due 2026 2,500 2,500 3.567% notes due 2045 1,000 1,000 4.114% notes due 2046 2,500 2,500 XTO Energy Inc. (2) 5.500% senior notes due 2018 - 371 6.500% senior notes due 2018 - 453 6.100% senior notes due 2036 195 197 6.750% senior notes due 2037 302 304 6.375% senior notes due 2038 232 233 Mobil Corporation 8.625% debentures due 2021 250 249 Industrial revenue bonds due 2019-2051 0.764% 2,559 2,559 Other U.S. dollar obligations 162 103 Other foreign currency obligations 34 57 Capitalized lease obligations 8.504% 1,327 1,225 Debt issuance costs (55) (69) Total long-term debt 24,406 28,932 (1) Average effect ive interest rate for debt and average imputed interest rate for capital leases at December 31, 2017. (2) Includes premiums of $102 million in 2017 and $138 million in 2016 . |
Incentive Program
Incentive Program | 12 Months Ended |
Dec. 31, 2017 | |
Incentive Program [Abstract] | |
Incentive Program | 15. Incentive Program The 2003 Incentive Program provides for grants of stock options, stock appreciation rights (SARs), restricted stock and other forms of award. Awards may be granted to eligible employees of the Corporation and those affiliates at least 50 percent owned. Outstanding awards are subject to certain forfeiture provisions contained in the program or award instrument. Options and SARs may be granted at prices not less than 100 percent of market value on the date of grant and have a maximu m life of 10 years. The maximum number of shares of stock that may be issued under the 2003 Incentive Program is 220 million. Awards that are forfeited, expire or are settled in cash, do not count against this maximum limit. The 2003 Incentive Program does not have a specified term. New awards may be made until the available shares are depleted, unless the Board terminates the plan early. At the end of 201 7 , remaining shares available for award under the 2003 Incentive Program were 89 million . Restricted S tock and Restricted Stock Units . Awards totaling 8,916 thousand, 9,583 thousand, and 9,681 thousand of restricted (nonvested) common stock units were granted in 201 7 , 201 6 and 20 15 , respectively. Compensation expense for these awards is based on the price of the stock at the date of grant and is recognized in income over the requisite service period. S hares for these awards are issued to employees from treasury stock. The units that are settled in cash are recorded as liabilities and their changes in fair v alue are recognized over the vesting period. During the applicable restricted periods, the shares and units may not be sold or transferred and are subject to forfeiture. The majority of the awards have graded vesting periods, with 50 percent of the shares and units in each award vesting after three years and the remaining 50 percent vesting after seven years. Awards granted to a small number of senior executives have vesting periods of five years for 50 percent of the award and of 10 years or retirement, wh ichever occurs later, for the remaining 50 percent of the award. The Corporation has purchased shares in the open market and through negotiated transactions to offset shares or units settled in shares issued in conjunction with benefit plans and programs. Purchases may be discontinued at any time without prior notice. The following tables summarize information about restricted stock and restricted stock units for the year ended December 31, 201 7 . 2017 Weighted Average Grant-Date Restricted stock and units outstanding Shares Fair Value per Share (thousands) (dollars) Issued and outstanding at January 1 43,833 84.43 2016 award issued in 2017 9,582 87.70 Vested (10,136) 80.71 Forfeited (2,201) 80.11 Issued and outstanding at December 31 41,078 86.34 Value of restricted stock and units 2017 2016 2015 Grant price (dollars) 81.89 87.70 81.27 Value at date of grant: (millions of dollars) Restricted stock and units settled in stock 667 771 727 Units settled in cash 63 69 60 Total value 730 840 787 As of December 31, 201 7 , there was $ 2,049 million of unrecognized compensation cost related to the nonvested restricted awards. This cost is expected to be recognized over a weighted-average period of 4.5 years. The compensation cost charged against income for the restricted stock and restricted stock units was $856 million, $ 880 million and $ 855 million for 201 7 , 201 6 and 2015 , respectively. The income tax benefit recognized in income related to this compensation expense was $ 78 million, $ 80 million and $ 78 million for the same periods, respectively. The fair value of shares and units vested in 201 7 , 201 6 and 20 15 was $826 million, $ 851 million and $ 808 million , respectively. Cash p ayments of $ 64 million, $67 million and $ 64 million for vested restric ted stock units settled in cash were made in 201 7 , 201 6 and 20 15 , respectively. |
Litigation And Other Contingenc
Litigation And Other Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Litigation And Other Contingencies [Abstract] | |
Litigation And Other Contingencies | 16. Litigation and Other Contingencies Litigation. A variety of claims have been made against ExxonMobil and certain of its consolidated subsidiaries in a number of pending lawsuits. Management has regular litigation reviews, including updates from corporate and outside counsel, to assess the need for accounting recognition or disclosure of these contingencies. The Corporation accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be re asonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. The Corporation does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote. For contingencies where an unfavorable outcome is reasonably possible and which are signif icant, the Corporation discloses the nature of the contingency and, where feasible, an estimate of the possible loss. For purposes of our contingency disclosures, “significant” includes material matters , as well as other matters , which management believes should be disclosed. ExxonMobil will continue to defend itself vigorously in these matters. Based on a consideration of all relevant facts and circumstances, the Corporation does not believe the ultimate outcome of any currently pending lawsuit against Exx onMobil will have a material adverse effect upon the Corporation’s operations, financial condition, or financial statements taken as a whole. Other Contingencies. The Corporation and certain of its consolidated subsidiaries were contingently liable at Dece mber 31, 2017 , for guarantees relating to notes, loans and performance under contracts. Where guarantees for environmental remediation and other similar matters do not include a stated cap, the amounts reflect management’s estimate of the maximum potent ial exposure. December 31, 2017 Equity Company Other Third-Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 98 270 368 Other 1,191 4,514 5,705 Total 1,289 4,784 6,073 (1) ExxonMobil share. Additionally, the Corporation and its affiliates have numerous long-term sales and purchase commitments in their various business activities, all of which are expected to be fulfilled with no adverse consequences material to the Corporation’s operations or financial condition. In accordance with a nationalization decree issued by Venezuela’s president in February 2007, by May 1, 2007, a subsidiary of the Venezuelan National Oil Company (PdVSA) assumed the operatorship of the Cerro Negro Heavy Oil Project. This Project had been operated and owned by ExxonMobil affiliates holding a 41.67 percent ownership interest in the Project. The decree also required conversion of the Cerro Negro Project into a “mixed enterprise” and an increase in PdVSA’s or one of its affiliate’s ownership interest in the Project, with the stipulation that if ExxonMobil refused to accept the terms for the formation of the mixed enterprise within a specified period of time, the government would “directly assume the activities” carried ou t by the joint venture. ExxonMobil refused to accede to the terms proffered by the government, and on June 27, 2007, the government expropriated ExxonMobil’s 41.67 percent interest in the Cerro Negro Project. On September 6, 2007, affiliates of ExxonMobil filed a Request for Arbitration with the International Centre for Settlement of Investment Disputes (ICSID). The ICSID Tribunal issued a decision on June 10, 2010, finding that it had jurisdiction to proceed on the basis of the Netherlands-Venezuela Bilate ral Investment Treaty. On October 9, 2014, the ICSID Tribunal issued its final award finding in favor of the ExxonMobil affiliates and awarding $1.6 billion as of the date of expropriation, June 27, 2007, and interest from that date at 3.25 percent compoun ded annually until the date of payment in full. The Tribunal also noted that one of the Cerro Negro Project agreements provides a mechanism to prevent double recovery between the ICSID award and all or part of an earlier award of $908 million to an ExxonMo bil affiliate, Mobil Cerro Negro, Ltd., against PdVSA and a PdVSA affiliate, PdVSA CN, in an arbitration under the rules of the International Chamber of Commerce . On February 2, 2015, Venezuela filed a Request for Annulment of the ICSID award. On March 9, 2017, the ICSID Committee hearing the Request for Annulment issued a decision partially annulling the award of the Tribunal issued on October 9, 2014. The Committee affirmed the compensation due for the La Ceiba project and for export curtailments at the C erro Negro project, but annulled the portion of the award relating to the Cerro Negro Project’s expropriation ($1.4 billion) based on its determination that the prior Tribunal failed to adequately explain why the cap on damages in the indemnity owed by PdV SA did not affect or limit the amount owed for the expropriation of the Cerro Negro project. As a result, ExxonMobil retains an award for $260 million (including accrued interest). ExxonMobil reached an agreement with Venezuela for full payment of the $260 million and Venezuela has begun performing on it. The agreement does not impact ExxonMobil’s ability to re-arbitrate the issue that was the basis for the annulment in a new ICSID arbitration proceeding . T he United States District Court for the Southern Di strict of New York entered judgment on the ICSID award on October 10, 2014. Motions filed by Venezuela to vacate that judgment on procedural grounds and to modify the judgment by reducing the rate of interest to be paid on the ICSID award from the entry of the court’s judgment, until the date of payment, were denied on February 13, 2015, and March 4, 2015, respectively. On March 9, 2015, Venezuela filed a notice of appeal of the court’s actions on the two motions. On July 11, 2017, the United States Court o f Appeals for the Second Circuit rendered its opinion overturning the District Court’s decision and vacating the judgment on the grounds that a different procedure should have been used to reduce the award to judgment. The Corporation is evaluating next st eps . A stay of the District Court’s judgment has continued pending the completion of the Second Circuit appeal. The net impact of these matters on the Corporation’s consolidated financial results cannot be reasonably estimated. Regardless, the Corporation does not expect the resolution to have a material effect upon the Corporation’s operations or financial condition . An affiliate of ExxonMobil is one of the Contractors under a Production Sharing Contract (PSC) with the Nigerian National Petroleum Corporati on (NNPC) covering the Erha block located in the offshore waters of Nigeria. ExxonMobil's affiliate is the operator of the block and owns a 56.25 percent interest under the PSC. The Contractors are in dispute with NNPC regarding NNPC's lifting of crude oil in excess of its entitlement under the terms of the PSC. In accordance with the terms of the PSC, the Contractors initiated arbitration in Abuja, Nigeria, under the Nigerian Arbitration and Conciliation Act. On October 24, 2011, a three-member arbitral Tr ibunal issued an award upholding the Contractors' position in all material respects and awarding damages to the Contractors jointly in an amount of approximately $1.8 billion plus $234 million in accrued interest. The Contractors petitioned a Nigerian fede ral court for enforcement of the award, and NNPC petitioned the same court to have the award set aside. On May 22, 2012, the court set aside the award. The Contractors appealed that judgment to the Court of Appeal, Abuja Judicial Division. On July 22, 2016 , the Court of Appeal upheld the decision of the lower court setting aside the award. On October 21, 2016, the Contractors appealed the decision to the Supreme Court of Nigeria. In June 2013, the Contractors filed a lawsuit against NNPC in the Nigerian fed eral high court in order to preserve their ability to seek enforcement of the PSC in the courts if necessary. Following dismissal by this court, the Contractors appealed to the Nigerian Court of Appeal in June 2016. In October 2014, the Contractors filed s uit in the United States District Court for the Southern District of New York to enforce, if necessary, the arbitration award against NNPC assets residing within that jurisdiction. NNPC has moved to dismiss the lawsuit. The stay in the proceedings in the S outhern District of New York has been lifted. At this time, the net impact of this matter on the Corporation's consolidated financial results cannot be reasonably estimated. However, regardless of the outcome of enforcement proceedings, the Corporation doe s not expect the proceedings to have a material effect upon the Corporation's operations or financial condition . |
Pension And Other Postretiremen
Pension And Other Postretirement Benefits | 12 Months Ended |
Dec. 31, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension And Other Postretirement Benefits | 17. Pension and Other Postretirement Benefits The benefit obligations and plan assets associated with the Corporation’s principal benefit plans are measured on December 31. Pension Benefits Other Postretirement U.S. Non-U.S. Benefits 2017 2016 2017 2016 2017 2016 (percent) Weighted-average assumptions used to determine benefit obligations at December 31 Discount rate 3.80 4.25 2.80 3.00 3.80 4.25 Long-term rate of compensation increase 5.75 5.75 4.30 4.00 5.75 5.75 (millions of dollars) Change in benefit obligation Benefit obligation at January 1 19,960 19,583 25,196 25,117 7,800 8,282 Service cost 784 810 596 585 129 153 Interest cost 798 793 772 844 317 344 Actuarial loss/(gain) 733 250 250 1,409 231 (560) Benefits paid (1) (2) (2,964) (1,476) (1,291) (1,228) (543) (537) Foreign exchange rate changes - - 2,484 (1,520) 40 16 Amendments, divestments and other (1) - (44) (11) 126 102 Benefit obligation at December 31 19,310 19,960 27,963 25,196 8,100 7,800 Accumulated benefit obligation at December 31 15,557 16,245 25,557 22,867 - - (1) Benefit payments for funded and unfunded plans. (2) For 201 7 and 201 6 , other postretirement benefits paid are net of $16 million and $22 million of Medicare subsidy receipts , respectively . For selection of the discount rate for U.S. plans, several sources of information are considered, including interest rate market indicators and the effective discount rate determined by use of a yield curve based on high-quality, noncallable bonds applied to the estimated cash outflows for benefit payments. For major non-U.S. plans, the discount rate is determined by using a spot yield curve of high-quality, local-currency-denominated bonds at an average maturity approximating that of the liabilities . The measurement of the accumulated postretirement benefit obligation assumes a health care cost trend rate of 4.5 percent in 2019 and subsequent years . A one-percentage-point increase in the health care cost trend rate would increase service and interest cost by $ 72 million and the postretirement benefit obligation by $ 696 million. A one-percentage-point decrease in the health care cost trend rate would decrease service and interest cos t by $ 53 million and the postretirement benefit obligation by $ 536 million. Pension Benefits Other Postretirement U.S. Non-U.S. Benefits 2017 2016 2017 2016 2017 2016 (millions of dollars) Change in plan assets Fair value at January 1 12,793 10,985 19,043 18,417 411 414 Actual return on plan assets 1,831 949 1,442 2,443 40 20 Foreign exchange rate changes - - 1,776 (1,452) - - Company contribution 619 2,068 440 492 34 36 Benefits paid (1) (2,461) (1,209) (902) (857) (58) (59) Other - - (338) - - - Fair value at December 31 12,782 12,793 21,461 19,043 427 411 (1) Benefit payments for funded plans. The funding levels of all qualified pension plans are in compliance with standards set by applicable law or regulation. As shown in the table below, certain smaller U.S. pension plans and a number of non-U.S. pension plans are not funded because local applicable tax rules and regulatory practices do not encourage funding of these plans. All defined benefit pension obligations, regardless of the funding status of the underlying plans, are fully supported by the financial strength of the Corporation or th e respective sponsoring affiliate. Pension Benefits U.S. Non-U.S. 2017 2016 2017 2016 (millions of dollars) Assets in excess of/(less than) benefit obligation Balance at December 31 Funded plans (3,957) (4,306) 413 212 Unfunded plans (2,571) (2,861) (6,915) (6,365) Total (6,528) (7,167) (6,502) (6,153) The authoritative guidance for defined benefit pension and other postretirement plans requires an employer to recognize the overfunded or underfunded status of a defined benefit postretirement plan as an asset or liability in its statement of financial position and to recognize changes in that funded status in the year in which the changes occur through other comprehensive income. Pension Benefits Other Postretirement U.S. Non-U.S. Benefits 2017 2016 2017 2016 2017 2016 (millions of dollars) Assets in excess of/(less than) benefit obligation Balance at December 31 (1) (6,528) (7,167) (6,502) (6,153) (7,673) (7,389) Amounts recorded in the consolidated balance sheet consist of: Other assets - - 1,403 1,035 - - Current liabilities (276) (409) (338) (294) (360) (361) Postretirement benefits reserves (6,252) (6,758) (7,567) (6,894) (7,313) (7,028) Total recorded (6,528) (7,167) (6,502) (6,153) (7,673) (7,389) Amounts recorded in accumulated other comprehensive income consist of: Net actuarial loss/(gain) 3,982 5,354 5,586 5,629 1,595 1,468 Prior service cost 11 15 (143) (123) (397) (430) Total recorded in accumulated other comprehensive income 3,993 5,369 5,443 5,506 1,198 1,038 (1) Fair value of assets less benefit obligation shown on the preceding page. The long-term expected rate of return on funded assets shown below is established for each benef it plan by developing a forward - looking, long-term return assumption for each asset class, taking into account factors such as the expected real return for the specific asset class and inflation. A single, long-term rate of return is then calculated as the weighted average of the target asset allocation percentages and the long-term return assumption for each asset class. Other Pension Benefits Postretirement U.S. Non-U.S. Benefits 2017 2016 2015 2017 2016 2015 2017 2016 2015 Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31 (percent) Discount rate 4.25 4.25 4.00 3.00 3.60 3.10 4.25 4.25 4.00 Long-term rate of return on funded assets 6.50 6.50 7.00 5.20 5.25 5.90 6.50 6.50 7.00 Long-term rate of compensation increase 5.75 5.75 5.75 4.00 4.80 5.30 5.75 5.75 5.75 Components of net periodic benefit cost (millions of dollars) Service cost 784 810 864 596 585 689 129 153 170 Interest cost 798 793 785 772 844 850 317 344 346 Expected return on plan assets (775) (726) (830) (1,000) (927) (1,094) (24) (25) (28) Amortization of actuarial loss/(gain) 438 492 544 476 536 730 96 153 206 Amortization of prior service cost 5 6 6 47 54 87 (33) (30) (24) Net pension enhancement and curtailment/settlement cost 609 319 499 19 2 22 - - - Net periodic benefit cost 1,859 1,694 1,868 910 1,094 1,284 485 595 670 Changes in amounts recorded in accumulated other comprehensive income: Net actuarial loss/(gain) (324) 27 592 (191) (156) (1,375) 215 (555) (589) Amortization of actuarial (loss)/gain (1,047) (811) (1,043) (495) (538) (752) (96) (153) (206) Prior service cost/(credit) - - - 111 32 (401) - - (535) Amortization of prior service (cost)/credit (5) (6) (6) (47) (54) (87) 33 30 24 Foreign exchange rate changes - - - 559 (108) (1,126) 8 5 (31) Total recorded in other comprehensive income (1,376) (790) (457) (63) (824) (3,741) 160 (673) (1,337) Total recorded in net periodic benefit cost and other comprehensive income, before tax 483 904 1,411 847 270 (2,457) 645 (78) (667) Costs for defined contribution plans were $384 million, $ 399 million and $ 405 million in 201 7 , 201 6 and 20 15 , respectively. A summary of the change in accumulated other comprehensive income is shown in the table below: Total Pension and Other Postretirement Benefits 2017 2016 2015 (millions of dollars) (Charge)/credit to other comprehensive income, before tax U.S. pension 1,376 790 457 Non-U.S. pension 63 824 3,741 Other postretirement benefits (160) 673 1,337 Total (charge)/credit to other comprehensive income, before tax 1,279 2,287 5,535 (Charge)/credit to income tax (see Note 4) (290) (692) (1,810) (Charge)/credit to investment in equity companies (43) (16) 81 (Charge)/credit to other comprehensive income including noncontrolling interests, after tax 946 1,579 3,806 Charge/(credit) to equity of noncontrolling interests 12 24 (202) (Charge)/credit to other comprehensive income attributable to ExxonMobil 958 1,603 3,604 The Corporation’s investment strategy for benefit plan assets reflects a long-term view, a careful assessment of the risks inherent in plan asset s and liabilities and broad diversification to reduce the risk of the portfolio. The benefit plan assets are primarily invested in passive global equity and local currency fixed income index funds to diversify risk while minimizing costs. The equity funds hold ExxonMobil stock only to the extent necessary to replicate the relevant equity index. The fixed income funds are largely inves ted in investment grade corporate and government debt securities. Studies are periodically conducted to establish the preferred target asset allocation percentages . The target asset allocation for the U.S. benefit plans and the major non-U.S. plans is 30 perc ent equity securities and 70 percent debt securities. The equity targets for the U.S. and certain non-U.S. plans include a small allocation to private equity partnerships that primarily focus on early-stage venture capital of 5 percent and 3 percent, respectively. The fair value measurement levels are accounting terms that refer to different methods of valuing assets. The terms do not represent the relative risk or credit quality of an investment. The 2017 fair value of the benefit plan assets, including the level within the fair value hierarchy, is shown in the tables below: U.S. Pension Non-U.S. Pension Fair Value Measurement Fair Value Measurement at December 31, 2017, Using: at December 31, 2017, Using: Net Net Asset Asset Level 1 Level 2 Level 3 Value (1) Total Level 1 Level 2 Level 3 Value (1) Total (millions of dollars) Asset category: Equity securities U.S. - - - 1,665 1,665 - - - 2,967 2,967 Non-U.S. - - - 1,570 1,570 111 (2) - - 2,903 3,014 Private equity - - - 532 532 - - - 522 522 Debt securities Corporate - 5,260 (3) - 1 5,261 - 131 (3) - 5,215 5,346 Government - 3,604 (3) - 2 3,606 237 (4) 32 (3) - 9,056 9,325 Asset-backed - - - 1 1 - 34 (3) - 72 106 Cash - - - 138 138 54 2 (5) - 102 158 Total at fair value - 8,864 - 3,909 12,773 402 199 - 20,837 21,438 Insurance contracts at contract value 9 23 Total plan assets 12,782 21,461 (1) Per ASU 2015-07, c ertain instruments that are measured at fair value using the Net Asset Value (NAV) per share practical expedient have not been categorize d in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets. (2) For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges. (3) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions. (4) For government debt securities that are traded on active exchanges, fair value is based on observable quoted prices . (5) For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 inpu t . Other Postretirement Fair Value Measurement at December 31, 2017, Using: Net Asset Level 1 Level 2 Level 3 Value (1) Total (millions of dollars) Asset category: Equity securities U.S. - - - 73 73 Non-U.S. - - - 55 55 Private equity - - - - - Debt securities Corporate - 99 (2) - - 99 Government - 197 (2) - - 197 Asset-backed - 1 (2) - - 1 Cash - - - 2 2 Total at fair value - 297 - 130 427 (1) Per ASU 2015-07, c ertain instruments that are measured at fair value using the Net Asset Value (NAV) per share practical expedient have not been categorize d in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets. (2) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions. The 2016 fair value of the benefit plan assets, including the level within the fair value hierarchy, is shown in the tables below: U.S. Pension Non-U.S. Pension Fair Value Measurement Fair Value Measurement at December 31, 2016, Using: at December 31, 2016, Using: Net Net Asset Asset Level 1 Level 2 Level 3 Value (1) Total Level 1 Level 2 Level 3 Value (1) Total (millions of dollars) Asset category: Equity securities U.S. - - - 2,347 2,347 - - - 3,343 3,343 Non-U.S. - - - 2,126 2,126 142 (2) 2 (3) - 3,632 3,776 Private equity - - - 553 553 - - - 539 539 Debt securities Corporate - 4,978 (4) - 1 4,979 - 123 (4) - 4,075 4,198 Government - 2,635 (4) - 1 2,636 167 (5) 32 (4) - 6,753 6,952 Asset-backed - 3 (4) - 1 4 - 35 (4) - 72 107 Cash - - - 137 137 23 9 (6) - 73 105 Total at fair value - 7,616 - 5,166 12,782 332 201 - 18,487 19,020 Insurance contracts at contract value 11 23 Total plan assets 12,793 19,043 (1) Per ASU 2015-07, certain instruments that are measured at fair value using the Net Asset Value (NAV) per share practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets. (2) For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges. (3) For U.S. and non-U.S. equity secur ities held in the form of fund units that are redeemable at the measurement date, the published unit value is treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active exch anges, which ar e Level 1 inputs . (4) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions. (5) For government debt securities that are traded on active exchanges, fair value is based on o bservable quoted prices. ( 6 ) For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input . Other Postretirement Fair Value Measurement at December 31, 2016, Using: Net Asset Level 1 Level 2 Level 3 Value (1) Total (millions of dollars) Asset category: Equity securities U.S. - - - 98 98 Non-U.S. - - - 71 71 Private equity - - - - - Debt securities Corporate - 82 (2) - - 82 Government - 159 (2) - - 159 Asset-backed - 1 (2) - - 1 Cash - - - - - Total at fair value - 242 - 169 411 (1) Per ASU 2015-07, c ertain instruments that are measured at fair value using the Net Asset Value (NAV) per share practical expedient have not been categ orize d in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets. ( 2 ) For corporate, government and asset-backed debt securities, fair v alue is based on observable inputs of comparable market transactions. A summary of pension plans with an accumulated benefit obligation in excess of plan assets is shown in the table below: Pension Benefits U.S. Non-U.S. 2017 2016 2017 2016 (millions of dollars) For funded pension plans with an accumulated benefit obligation in excess of plan assets: Projected benefit obligation 16,739 17,099 3,384 837 Accumulated benefit obligation 14,022 14,390 3,264 612 Fair value of plan assets 12,782 12,793 3,219 564 For unfunded pension plans: Projected benefit obligation 2,571 2,861 6,915 6,365 Accumulated benefit obligation 1,535 1,855 6,208 5,687 Other Pension Benefits Postretirement U.S. Non-U.S. Benefits (millions of dollars) Estimated 2018 amortization from accumulated other comprehensive income: Net actuarial loss/(gain) (1) 539 412 112 Prior service cost (2) 5 47 (40) (1) The Corporation amortizes the net balance of actuarial losses/(gains) as a component of net periodic benefit cost over the average remaining service period of active plan participants. (2) The Corporation amortizes prior service cost on a straight-line basis as permitted under authoritative guidance for defined benefit pension and other postretirement benefit plans. Pension Benefits Other Postretirement Benefits Medicare U.S. Non-U.S. Gross Subsidy Receipt (millions of dollars) Contributions expected in 2018 490 720 - - Benefit payments expected in: 2018 1,364 1,183 459 25 2019 1,279 1,163 465 26 2020 1,267 1,197 469 28 2021 1,268 1,203 470 29 2022 1,285 1,220 468 30 2023 - 2027 6,355 6,162 2,329 174 |
Disclosures About Segments And
Disclosures About Segments And Related Information | 12 Months Ended |
Dec. 31, 2017 | |
Disclosures About Segments And Related Information [Abstract] | |
Disclosures About Segments And Related Information | 18. Disclosures about Segments and Related Information The Upstream, Downstream and Chemical functions best define the operating segments of the business that are reported separately. The factors used to identify these reportable segments are based on the nature of the operations that are undertaken by each segment. The Upstream segment is organized and operates to explore for and produce crude oil and natural gas. The Downstream segment is organized and operates to manufacture and sell petroleum produc ts. The Chemical segment is organized and operates to manufacture and sell petrochemicals. These segments are broadly understood across the petroleum and petrochemical industries. These functions have been defined as the operating segments of the Corporat ion because they are the segments (1) that engage in business activities from which revenues are earned and expenses are incurred; (2) whose operating results are regularly reviewed by the Corporation’s chief operating decision maker to make decisions abou t resources to be allocated to the segment and to assess its performance; and (3) for which discrete financial information is available. Earnings after income tax include transfers at estimated market prices. I n corporate and financing activities, intere st revenue relates to interest earned on cash deposits and marketable securities. Interest expense includes non-debt-related interest expense of $136 million in 2017, $63 million in 2016 and $100 million in 2015. Corporate Upstream Downstream Chemical and Corporate U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Financing Total (millions of dollars) As of December 31, 2017 Earnings after income tax 6,622 6,733 1,948 3,649 2,190 2,328 (3,760) 19,710 Earnings of equity companies included above 216 3,618 118 490 90 1,217 (369) 5,380 Sales and other operating revenue 9,349 14,508 61,695 122,881 11,035 17,659 35 237,162 Intersegment revenue 5,729 22,935 14,857 22,263 7,270 5,550 208 - Depreciation and depletion expense 6,963 9,741 658 883 299 504 845 19,893 Interest revenue - - - - - - 36 36 Interest expense 87 29 1 6 - - 478 601 Income tax expense (benefit) (8,552) 5,463 (61) 934 362 664 16 (1,174) Effect of U.S. tax reform - noncash (7,602) 480 (618) - (335) - 2,133 (5,942) Additions to property, plant and equipment 9,761 8,617 769 1,551 1,330 2,019 854 24,901 Investments in equity companies 4,680 14,494 276 1,462 341 3,387 (286) 24,354 Total assets 89,048 155,822 18,172 34,294 13,363 21,133 16,859 348,691 As of December 31, 2016 Earnings after income tax (4,151) 4,347 1,094 3,107 1,876 2,739 (1,172) 7,840 Earnings of equity companies included above 53 3,359 58 404 111 1,188 (367) 4,806 Sales and other operating revenue (1) 7,552 12,278 52,630 102,756 9,944 15,447 21 200,628 Intersegment revenue 3,827 18,099 11,796 18,775 6,404 4,211 236 - Depreciation and depletion expense 9,626 9,550 628 889 275 477 863 22,308 Interest revenue - - - - - - 30 30 Interest expense 17 29 1 8 - - 398 453 Income tax expense (benefit) (2,600) 1,818 396 951 693 609 (2,273) (406) Additions to property, plant and equipment 3,144 7,878 791 1,525 1,463 482 817 16,100 Investments in equity companies 4,917 11,364 111 1,255 158 3,247 (242) 20,810 Total assets 86,146 153,183 16,201 29,208 11,600 18,453 15,523 330,314 As of December 31, 2015 Earnings after income tax (1,079) 8,180 1,901 4,656 2,386 2,032 (1,926) 16,150 Earnings of equity companies included above 226 5,831 170 444 144 1,235 (406) 7,644 Sales and other operating revenue (1) 8,241 15,446 69,706 119,050 10,879 16,524 8 239,854 Intersegment revenue 4,344 20,839 12,440 22,166 7,442 5,168 274 - Depreciation and depletion expense 5,301 9,227 664 1,003 375 654 824 18,048 Interest revenue - - - - - - 46 46 Interest expense 26 27 8 4 - 1 245 311 Income tax expense (benefit) (879) 4,703 866 1,325 646 633 (1,879) 5,415 Additions to property, plant and equipment 6,915 14,561 916 1,477 1,865 629 1,112 27,475 Investments in equity companies 5,160 10,980 95 1,179 125 3,025 (227) 20,337 Total assets 93,648 155,316 16,498 29,808 10,174 18,236 13,078 336,758 (1) Sales and other operating revenue excludes previously reported sales-based taxes of $17,980 million for 2016 and $19,634 million for 2015. See Note 2 : Accounting Changes. Geographic Sales and other operating revenue (1) 2017 2016 2015 (millions of dollars) United States 82,079 70,126 88,826 Non-U.S. 155,083 130,502 151,028 Total 237,162 200,628 239,854 Significant non-U.S. revenue sources include: Canada 20,116 17,682 19,076 United Kingdom 16,611 15,452 20,605 Belgium 13,633 10,834 12,481 Singapore 11,589 9,919 10,632 Italy 11,476 9,715 11,220 France 11,235 9,487 10,631 Germany 8,484 7,899 8,447 (1) Sales and other operating revenue excludes previously reported sales-based taxes of $17,980 million for 2016 and $19,634 million for 2015. See Note 2 : Accounting Changes. Long-lived assets 2017 2016 2015 (millions of dollars) United States 105,101 101,194 107,039 Non-U.S. 147,529 143,030 144,566 Total 252,630 244,224 251,605 Significant non-U.S. long-lived assets include: Canada 41,138 40,144 39,775 Australia 16,908 16,510 15,894 Singapore 11,292 9,769 9,681 Kazakhstan 10,121 10,325 9,705 Nigeria 9,734 11,314 12,222 Papua New Guinea 8,463 5,719 5,985 Angola 7,689 8,413 8,777 Russia 5,702 4,828 4,744 |
Income And Other Taxes
Income And Other Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income And Other Taxes [Abstract] | |
Income And Other Taxes | 1 9 . Income and Other Taxes 2017 2016 2015 U.S. Non-U.S. Total U.S. Non-U.S. Total U.S. Non-U.S. Total (millions of dollars) Income tax expense Federal and non-U.S. Current 577 6,633 7,210 (214) 4,056 3,842 - 7,126 7,126 Deferred - net (9,075) 754 (8,321) (2,801) (1,422) (4,223) (1,166) (571) (1,737) U.S. tax on non-U.S. operations 17 - 17 41 - 41 38 - 38 Total federal and non-U.S. (8,481) 7,387 (1,094) (2,974) 2,634 (340) (1,128) 6,555 5,427 State (80) - (80) (66) - (66) (12) - (12) Total income tax expense (8,561) 7,387 (1,174) (3,040) 2,634 (406) (1,140) 6,555 5,415 All other taxes and duties Other taxes and duties 3,330 26,774 30,104 3,209 25,811 29,020 3,206 27,103 30,309 Included in production and manufacturing expenses 1,107 747 1,854 1,052 808 1,860 1,157 828 1,985 Included in SG&A expenses 147 354 501 133 362 495 150 390 540 Total other taxes and duties 4,584 27,875 32,459 4,394 26,981 31,375 4,513 28,321 32,834 Total (3,977) 35,262 31,285 1,354 29,615 30,969 3,373 34,876 38,249 Sales-based taxes were previously reported gross on the income statem ent and included in total taxes in the above table. See Note 2: A ccounting Changes. The above provisions for d eferred income taxes include a net credit of $5,920 million in 2017, reflecting a $5,942 million credit related to U.S. tax reform and $22 million of other changes in tax laws and rates outside of the United States . Deferred income tax expense also includes net charges of $180 million in 2016 and $177 million in 2015 for the effect of changes in tax laws and rates. Following the December 22, 2017, enactment of the U.S. Tax Cuts and Jobs Act, in accordance with Acco unting Standard Codification Topic 740 (Income Taxes) and following guidance outlined in the SEC Staff Accounting Bulletin No. 118, the Corporation has included reasonable estimates of the income tax effects of the changes in tax law and tax rate. These inc lude amounts for the remeasurement of the deferred income tax balance from the reduction in the corporate tax rate from 35 to 21 percent and the mandatory deemed repatriation of undistributed foreign earnings and profits. The Corporation has paid taxes on earnings outside the United States at tax rates on average above the historical U.S. rate of 35 percent. As a result, the deemed repatriation tax does not create a significant tax impact for ExxonMobil. The impact of tax law changes on the Corporation’s fi nancial statements could differ from its estimates due to further analysis of the new law, regulatory guidance, technical corrections legislation, or guidance under U.S. GAAP. If significant changes occur, the Corporation will provide updated information in connection with future regulatory filings. The reconciliation between income tax expense and a theoretical U.S. tax computed by applying a rate of 35 percent for 2017 , 2016 and 2015 is as follows: 2017 2016 2015 (millions of dollars) Income before income taxes United States (754) (5,832) 147 Non-U.S. 19,428 13,801 21,819 Total 18,674 7,969 21,966 Theoretical tax 6,536 2,789 7,688 Effect of equity method of accounting (1,883) (1,682) (2,675) Non-U.S. taxes in excess of/(less than) theoretical U.S. tax (1) 1,848 (582) 1,415 Effect of U.S. tax reform (5,942) - - Other (2) (1,733) (931) (1,013) Total income tax expense (1,174) (406) 5,415 Effective tax rate calculation Income taxes (1,174) (406) 5,415 ExxonMobil share of equity company income taxes 2,228 1,692 3,011 Total income taxes 1,054 1,286 8,426 Net income including noncontrolling interests 19,848 8,375 16,551 Total income before taxes 20,902 9,661 24,977 Effective income tax rate 5% 13% 34% (1) 2016 includes a $227 million expense from an adjustment to deferred taxes and a $548 million benefit from an adjustment to a tax position in prior years. (2) 2017 includes an exploration tax benefit of $708 million . 2016 includes an exploration tax benefit of $198 million and benefits from an adjustment to a prior year tax position of $176 million . Deferred income taxes reflect the impact of temporary differences between the amount of assets and liabilities recognized for financial reporting purposes and such amounts recognized for tax purposes. Balances at December 31, 2017, reflect the deferred income tax effects from the enactment of the U.S. Tax Cuts and Jobs Act of 2017. The Corporation has elected to account for the tax on global intangible low-taxed income (GILTI) as a tax expense in the period in which it is incurred. Deferred tax liabiliti es/(assets) are comprised of the following at December 31: Tax effects of temporary differences for: 2017 2016 (millions of dollars) Property, plant and equipment 36,559 46,744 Other liabilities 5,625 4,262 Total deferred tax liabilities 42,184 51,006 Pension and other postretirement benefits (4,338) (6,053) Asset retirement obligations (4,237) (5,454) Tax loss carryforwards (6,767) (5,472) Other assets (5,832) (5,615) Total deferred tax assets (21,174) (22,594) Asset valuation allowances 2,565 1,509 Net deferred tax liabilities 23,575 29,921 In 2017, asset valuation allowances of $2,565 million in creased by $1,056 million and included net provisions of $502 million, $402 million recorded in the acquisition of InterO il Corporation , and effects of foreign currency transl ation of $152 million. Balance sheet classification 2017 2016 (millions of dollars) Other assets, including intangibles, net (3,318) (4,120) Deferred income tax liabilities 26,893 34,041 Net deferred tax liabilities 23,575 29,921 The Corporation’s earnings from subsidiary companies outside the United States were subject to the deemed repatriation required by the U.S. Tax Cuts and Jobs Act of 2017. Those amounts continue to be indefinitely reinvested and are retained to fund prior and future capital project expenditures. Deferred income taxes have not been recorded for certain additional future tax obligations, such as foreign withholding tax and state tax, as these earnings are expected to be indefinitely reinvested for the foreseeable fut ure. As of December 31, 2017, it is not practicable to estimate the unrecognized deferred income tax liability. Unrecognized Tax Benefits . The Corporation is subject to income taxation in many jurisdictions around the world. Unrecognized tax benefits reflect the difference between positions taken or expected to be taken on income tax returns and the amounts recognized in the financial statements. The following table summarizes the movement in unrecognized tax benefits : Gross unrecognized tax benefits 2017 2016 2015 (millions of dollars) Balance at January 1 9,468 9,396 8,986 Additions based on current year's tax positions 522 655 903 Additions for prior years' tax positions 523 534 496 Reductions for prior years' tax positions (865) (1,019) (190) Reductions due to lapse of the statute of limitations (113) (7) (4) Settlements with tax authorities (782) (70) (725) Foreign exchange effects/other 30 (21) (70) Balance at December 31 8,783 9,468 9,396 The gross unrecognized tax benefit balances shown above are predominantly related to tax positions that would reduce the Corporation’s effective tax rate if the positions are favorably resolved. Unfavorable resolution of these tax positions generally would not increase the effective tax rate . The 201 7 , 201 6 and 201 5 changes in unrecognized tax benefits did not have a material effect on the Corporation’s net income . Resolution of these tax positions through negotiations with the relevant tax authoritie s or through litigation will take many years to complete. It is difficult to predict the timing of resolution for tax positions since such timing is not entirely within the control of the Corporation. In the United States, the Corporation has various ongoi ng U.S. federal income tax positions at issue with the Internal Revenue Service (IRS) for tax years beginning in 2006. The IRS has asserted penalties associated with several of those positions. The Corporation has not recognized the penalties as an expense because the Corporation does not expect t he penalties to be sustained under applicable law. The Corporation has filed a refund suit for tax years 2006-2009 in a U.S. federal district court with respect to the positions at issue for those years. Unfavorabl e resolution of all positions at issue with the IRS would not have a materially adverse effect on the Corpora tion’s net income or liquidity. It is reasonably possible that the total amount of unrecognized tax benefits could increase or decrease by 10 percent in the next 12 months with no material impact on the Corporation's net income. The following table summarizes the tax years that remain subject to examination by major tax jurisdiction: Country of Operation Open Tax Years Abu Dhabi 2014 - 2017 Angola 2016 - 2017 Australia 2008 - 2017 Belgium 2015 - 2017 Canada 1998 - 2017 Equatorial Guinea 2007 - 2017 Indonesia 2007 - 2017 Iraq 2012 - 2017 Malaysia 2009 - 2017 Nigeria 2006 - 2017 Norway 2007 - 2017 Papua New Guinea 2008 - 2017 Russia 2015 - 2017 United Kingdom 2015 - 2017 United States 2006 - 2017 The Corporation classifies interest on income tax-related balances as interest expense or interest income and classifies tax-related penalties as operating expense. The Corporation incurred $36 million, $ 4 million and $ 39 million in interest expense on income tax reserves in 201 7 , 201 6 and 201 5 , respectively. T he related interest payable balances were $168 million and $ 191 million at December 31, 201 7 , and 201 6 , respectively. |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Acquisitions [Text Block] | 20 . Acquisitions InterOil Corporation On February 22, 2017, the Corporation completed the acquisition of InterOil Corporation (IOC) for $2.7 billion. The IOC acquisition was mostly unproved properties in Papua New Guinea. Consideration included 28 million shares of Exxon Mobil Corporation common stock having a value on the acquisition date of $2.2 billion, a Contingent Resource Payment (CRP) with a fair value of $0.3 billion and cash o f $0.2 billion. The CRP provided IOC shareholders $7.07 per share in cash for each incremental independently certified Trillion Cubic Feet Equivalent (TCFE) of resources above 6.2 TCFE, up to 11.0 TCFE. IOC’s assets include a contingent receivable related to the same resource base for volumes in excess of 3.5 TCFE at am ounts ranging from $0.24 - $0.40 per thousand cubic feet equivalent. The fair value of the contingent receivable was $1.1 billion at the acquisition date. Fair values of contingent amounts were based on assumptions about the outcome of the resource certifi cation, future business plans and appropriate discount rates. On September 6, 2017, the resource certification was finalized triggering both payment of the CRP to former IOC shareholders and receipt of the current portion of the contingent receivable. The earnings impact from settlement of the CRP and the related contingent receivable was not material. Permian Basin Properties On February 28, 2017, the Corporation completed the acquisition for $6.2 billion of a number of companies from the Bass family in Fort Worth, Texas, that indirectly own mostly unproved oil and gas properties in the Permian Basin . Consideration included 68 million shares of Exxon Mobil Corporation common stock having a value on the acquisition date of $5.5 billion, together with addi tional contingent cash payments tied to future drilling and completion activities (up to a maximum of $1.02 billion). F air value of the contingent payment was $0.7 billion as of the acquisition date and is expected to be paid beginning in 2020 and ending n o later than 2032 commensurate with development of the resource. Fair value of the contingent payment was based on assumptions including drilling and completion activities, appropriate discount rates and tax rates. The fair value of the contingent payment is adj usted each quarter. T he earnings impact from these adjustments was not material. Below is a summary of the net assets acquired for each acquisition. IOC Permian (billions of dollars) Current assets 0.6 - Property, plant and equipment 2.9 6.3 Other 0.6 - Total assets 4.1 6.3 Current liabilities 0.5 - Long-term liabilities 0.9 0.1 Total liabilities 1.4 0.1 Net assets acquired 2.7 6.2 |
Summary Of Accounting Policies
Summary Of Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2017 | |
Summary Of Accounting Policies [Abstract] | |
Principles Of Consolidation | Principles of Consolidation The Consolidated Financial Statements include the accounts of subsidiaries the Corporation controls. They also include the Corporation’s share of the undivided interest in certain upstream assets , liabilities , revenues and expenses . Amounts representing the Corporation’s interest in entities that it does not control, but over which it exercises significant influence, are included in “Investments, advances and long-term receivables” . The Corp oration’s share of the net income of these companies is included in the Consolidated Statement of Income caption “Income from equity affiliates ” . Majority ownership is normally the indicator of control that is the basis on which subsidiaries are consolida ted. However, certain factors may indicate that a majority-owned investment is not controlled and therefore should be accounted for using the equity method of accounting. These factors occur where the minority shareholders are granted by law or by contract substantive participating rights. These include the right to approve operating policies, expense budgets, financing and investment plans, and management compensation and succession plans. Evidence of loss in value that might indicate impairment of invest ments in companies accounted for on the equity method is assessed to determine if such evidence represents a loss in value of the Corporation’s investment that is other than temporary. Examples of key indicators include a history of operating losses, negat ive earnings and cash flow outlook, significant downward revisions to oil and gas reserves, and the financial condition and prospects for the investee’s business segment or geographic region. If evidence of an other than temporary loss in fair value below carrying amount is determined, an impairment is recognized. In the absence of market prices for the investment, discounted cash flows are used to assess fair value. The Corporation’s share of the cumulative foreign exchange translation adjustment for equi ty method investments is reported in Accumulated Other Comprehensive Income . |
Revenue Recognition | Revenue Recognition The Corporation generally sells crude oil, natural gas and petroleum and chemical products under short-term agreements at prevailing market prices. In some c ases (e.g., natural gas), products may be sold under long-term agreements, with periodic price adjustments. Revenues are recognized when the products are delivered, which occurs when the customer has taken title and has assumed the risks and rewards of own ership, prices are fixed or determinable and collectibility is reasonably assured. Revenues from the production of natural gas properties in which the Corporation has an interest with other producers are recognized on the basis of the Corporation’s net wo rking interest. Differences between actual production and net working interest volumes are not significant. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another are combined and recorded as exch anges measured at the book value of the item sold. |
Taxes on Sales Transactions | Taxes on Sales Transactions Beginning in 2017, the Corporation revised its reporting of certain sales and value-added taxes imposed on and concurrent with revenue-producing transactions with customers an d collected on behalf of governmental authorities (sales-based taxes). This changes reporting of sales-based taxes from gross reporting (included in both “Sales and other operating revenue” and “Sales-based taxes”) to net reporting (excluded from both “Sal es and other operating revenue” and “Sales-based taxes”) in the Con solidated Statement of Income. This change in reporting was applied retrospectively and does not affect earnings. Similar taxes , for which the Corporation is not considered to be an agent for the government , continue to be reported on a gross basis. |
Derivative Instruments | De rivative Instruments The Corporation has the ability to use derivative instruments to offset exposures associated with commodity prices, foreign currency exchange rates and interest rate s tha t arise from existing assets, liabilities and forecasted transactions. The gains and losses resulting from changes in the fair value of derivatives are recorded in income. T he Corporation may designate derivatives as fair value hedges or cash flow hedges. For fair value hedges, the gain or loss on the derivative and the offsetting loss or gain on the hedged item are recognized in current earnings . For cash flow hedges, the effective part of the hedge is initially reported as a component of other comprehens ive income and subsequently reclassified into earnings in the period that the forecasted transaction affects earnings, and the ineffective part of the hedge is recognized immediately in earnings. |
Fair Value | Fair Value Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Hierarchy Levels 1, 2 and 3 are terms for the priority of inputs to valuation techniques used to measure fair value. Hierarchy Level 1 inputs are quoted prices in active markets for identical assets or liabilities. Hierarchy Level 2 inputs are inputs other than quoted prices included within Level 1 that are directly or indirectly observable for the asset or l iability. Hierarchy Level 3 inputs are inputs that are not observable in the market . |
Inventories | Inventories Crude oil, products and merchandise inventories are carried at the lower of current market value or cost (generally determined under the last-in, first-out met hod – LIFO). Inventory costs include expenditures and other charges (including depreciation) directly and indirectly incurred in bringing the inventory to its existing condition and location. Selling expenses and general and administrative expenses are rep orted as period costs and excluded from inventory cost. Inventories of materials and supplies are valued at cost or less. |
Property, Plant And Equipment | Property, Plant and Equipment Cost Basis. The Corporation uses the “successful efforts” method to account for its exploration and production activities. Under this method, costs are accumulated on a field-by-field basis. Costs incurred to purchase, lease, or otherwise acquire a property (whether unproved or proved) are capitalized when incurred. Exploratory well costs are carried as an asset when the well has found a sufficient quantity of reserves to justify its completion as a producing well and where the Corporation is making sufficient progress assessing the reserves and the economic and operating viability of the project. Explora tory well costs not meeting these criteria are charged to expense. Other exploratory expenditures, including geophysical costs and annual lease rentals, are expensed as incurred. Development costs, including costs of productive wells and development dry ho les, are capitalized. Depreciation, Depletion and Amortization. Depreciation, depletion and amortization are primarily determined under either the unit-of-production method or the straight-line method, which is based on estimated asset service life taking obsolescence into consideration. Acquisition costs of proved properties are amortized using a unit-of-production method, computed on the basis of total proved oil and gas reserves. Capitalized exploratory drilling and development costs associated with pr oductive depletable extractive properties are amortized using the unit-of-production rates based on the amount of proved developed reserves of oil and gas that are estimated to be recoverable from existing facilities using current operating methods. Under the unit-of-production method, oil and gas volumes are considered produced once they have been measured through meters at custody transfer or sales transaction points at the outlet valve on the lease or field storage tank. In the event that the unit-of-pro duction method does not result in an equitable allocation of cost over the economic life of an upstream asset, an alternative method is used. The straight-line method is used in limited situations where the expected life of the asset does not reasonably co rrelate with that of the underlying reserves. For example, certain assets used in the production of oil and natural gas have a shorter life th an the reserves, and as such, the Corporation use s straight-line depreciation to ensure the asset is fully depreci ated by the end of its useful life. To the extent that proved reserves for a property are substantially de-booked and that property continues to produce such that the resulting depreciation charge does not result in an equitable allocation of cost over the expected life , assets will be depreciated using a unit-of-production method based on reserves determined at the most recent SEC price which result s in a more meaningful quantity of proved reserves, appropriately adjusted for production and technical chang es. Investments in refinery, chemical process, and lubes basestock manufacturing equipment are generally depreciated on a straight -line basis over a 25-year life. Service station buildings and fixed improvements generally are depreciated over a 20-year li fe. Maintenance and repairs, including planned major maintenance, are expensed as incurred. Major renewals and improvements are capitalized and the assets replaced are retired. Impairment Assessment. The Corporation tests assets or groups of assets for re coverability on an ongoing basis whenever events or circumstances indicate that the carrying amounts may not be recoverable. Among the events or changes in circumstances which could indicate that the carrying value of an asset or asset group may not be rec overable are the following: a significant decrease in the market price of a long-lived asset; a significant adverse change in the extent or manner in which an asset is being used or in its physical condition including a significant decrease in current and projected reserve volumes; a significant adverse change in legal factors or in the business climate that could affect the value, including an adverse action or assessment by a regulator; an accumulation of project costs significantly in excess of the amount originally expected; a current-period operating loss combined with a history and forecast of operating or cash flow losses; and a current expectation that, more likely than not, a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. Asset valuation analyses performed as part of its asset management program and other profitability reviews assist the Corporation in assessing whether events or circumstances indicate the carrying amo unts of any of its assets may not be recoverable. In general, the Corporation does not view temporarily low prices or margins as an indication of impairment. Management believes that prices over the long term must be sufficient to generate investments in energy supply to meet global demand. Although prices will occasionally drop significantly, industry prices over the long term will continue to be driven by market supply and demand fundamentals. On the supply side, industry production from mature fields is declining. This is being offset by investments to generate production from new discoveries, field developments and technology and efficiency advancements. OPEC investment activities and production policies also have an impact on world oil supplies. The de mand side is largely a function of general economic activities and levels of prosperity. Because the lifespans of the vast majority of the Corporation’s major assets are measured in decades, the value of these assets is predominantly based on long-term vie ws of future commodity prices and production costs. During the lifespan of these major assets, the Corporation expects that oil and gas prices will experience significant volatility, and consequently these assets will experience periods of higher earnings and periods of lower earnings, or even losses. In assessing whether the events or changes in circumstances indicate the carrying value of an asset may not be recoverable, the Corporation considers recent periods of operating losses in the context of its lo nger-term view of prices. While near-term prices are subject to wide fluctuations, longer-term price views are more stable and meaningful for purposes of assessing future cash flows. When the industry experiences a prolonged and deep reduction in commodity prices, the market supply and demand conditions may result in changes to the Corporation’s long-term price or margin assumptions it uses for its capital investment decisions. To the extent those changes result in a significant reduction to its long-term o il price, natural gas price or margin ranges, the Corporation may consider that situation, in conjunction with other events and changes in circumstances such as a history of operating losses, an indicator of potential impairment for certain assets. In the Upstream, the standardized measure of discounted cash flows included in the Supplemental Information on Oil and Gas Exploration and Production activities is required to use prices based on the average of first-of-month prices. These prices represent discre te points in time and could be higher or lower than the Corporation’s long-term price assumptions which are used for impairment assessments. The Corporation believes the standardized measure does not provide a reliable estimate of the expected future cash flows to be obtained from the development and production of its oil and gas properties or of the value of its oil and gas reserves and therefore does not consider it relevant in determining whether events or changes in circumstances indicate the need for a n impairment assessment. If events or circumstances indicate that the carrying value of an asset may not be recoverable, the Corporation estimates the future undiscounted cash flows of the affected properties to judge the recoverability of carrying amounts . In performing this assessment, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets. Cash flows used in recoverability assessments are based on the Cor poration’s assumptions which are developed in the annual planning and budgeting process, and are consistent with the criteria management uses to evaluate investment opportunities. These evaluations make use of the Corporation’s assumptions of future capita l allocations, crude oil and natural gas commodity prices, refining and chemical margins, volumes, costs, and foreign currency exchange rates. Volumes are based on projected field and facility production profiles, throughput, or sales. Where unproved reser ves exist, an appropriately risk-adjusted amount of these reserves may be included in the evaluation. Cash flow estimates for impairment testing exclude the effects of derivative instruments. An asset group is impaired if its estimated undiscounted cash fl ows are less than the asset’s carrying value. Impairments are measured by the amount by which the carrying value exceeds fair value. Fair value is based on market prices if an active market exists for the asset group, or discounted cash flows using a disco unt rate commensurate with the risk. Significant unproved properties are assessed for impairment individually, and valuation allowances against the capitalized costs are recorded based on the estimated economic chance of success and the length of time that the Corporation expects to hold the properties. Properties that are not individually significant are aggregated by groups and amortized based on development risk and average holding period. Other. Gains on sales of proved and unproved properties are only recognized when there is neither uncertainty about the recovery of costs applicable to any interest retained nor any substantial obligation for future performance by the Corporation. Losses on properties sold are recognized when incurred or when the prope rties are held for sale and the fair value of the properties is less than the carrying value. Interest costs incurred to finance expenditures during the construction phase of multiyear projects are capitalized as part of the historical cost of acquiring th e constructed assets. The project construction phase commences with the development of the detailed engineering design and ends when the constructed assets are ready for their intended use. Capitalized interest costs are included in property, plant and equ ipment and are depreciated over the service life of the related assets. |
Asset Retirement Obligations And Environmental Liabilities | Asset Retirement Obligations and Environmental Liabilities The Corporation incurs retirement obligations for certain assets. The fair values of these obligations are recorded as liabilities on a discounted basis , which is typically at the time the assets are installed. The costs associated with these liabilities are capitalized as part of the related assets and depreciated. Over time, the liabilities are accreted for the change in their present value. Liabilities for environmental costs are recorded when it is probable that obligations have been incurred and the amounts can be reasonably estimated. These liabilities are not reduced by possible recoveries from third parties , and pr ojected cash expenditures are not discounted. |
Foreign Currency Translation | Fo reign Currency Translation The Corporation selects the functional reporting currency for its international subsidiaries based on the currency of the primary economic environment in which each subsidiary ope rates. Downstream and Chemical operations primarily use the local currency. However, the U.S. dollar is used in countries with a history of high inflation (primarily in Latin America) and Singapore, which predominantly sells into the U.S. dollar export ma rket. Upstream operations which are relatively self-contained and integrated within a particular country, such as Canada, the United Kingdom, Norway and continental Europe, use the local currency. Some Upstream operations, primarily in Asia and Africa, use the U.S. dollar because they predominantly sell crude and natural gas production into U.S. dollar-denominated markets. For all operations, gains or losses from remeasuring foreign currency transactions into the functional currency are included in income. |
Stock-Based Payments | Stock-Based Payments The Corporation awards stock-based compensation to employees in the form of restricted stock and restricted stock units. Compensation expense is measured by the price of the stock at the date of grant and is recognized in income ove r the requisite service period. |
Tax on Global Intangible Low-taxed Income | The Corporation has elected to account for the tax on global intangible low-taxed income (GILTI) as a tax expense in the period in which it is incurred. |
Accounting Changes (Tables)
Accounting Changes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
New Accounting Pronouncements And Changes In Accounting Principles [Abstract] | |
Accounting Changes | 2016 2015 As Reported Change As Adjusted As Reported Change As Adjusted (millions of dollars) Sales and other operating revenue 218,608 (17,980) 200,628 259,488 (19,634) 239,854 Sales-based taxes 21,090 (21,090) - 22,678 (22,678) - Other taxes and duties 25,910 3,110 29,020 27,265 3,044 30,309 |
Miscellaneous Financial Infor31
Miscellaneous Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Miscellaneous Financial Information [Abstract] | |
Crude Oil, Products And Merchandise | 2017 2016 (billions of dollars) Crude oil 4.6 3.9 Petroleum products 4.3 3.7 Chemical products 3.3 2.8 Gas/other 0.7 0.5 Total 12.9 10.9 |
Other Comprehensive Income In32
Other Comprehensive Income Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Other Comprehensive Income Information [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income Information | Cumulative Post- Foreign retirement Unrealized Exchange Benefits Change in ExxonMobil Share of Accumulated Other Translation Reserves Stock Comprehensive Income Adjustment Adjustment Investments Total (millions of dollars) Balance as of December 31, 2014 (5,952) (12,945) (60) (18,957) Current period change excluding amounts reclassified from accumulated other comprehensive income (8,204) 2,202 33 (5,969) Amounts reclassified from accumulated other comprehensive income (14) 1,402 27 1,415 Total change in accumulated other comprehensive income (8,218) 3,604 60 (4,554) Balance as of December 31, 2015 (14,170) (9,341) - (23,511) Current period change excluding amounts reclassified from accumulated other comprehensive income (331) 552 - 221 Amounts reclassified from accumulated other comprehensive income - 1,051 - 1,051 Total change in accumulated other comprehensive income (331) 1,603 - 1,272 Balance as of December 31, 2016 (14,501) (7,738) - (22,239) Current period change excluding amounts reclassified from accumulated other comprehensive income 4,879 (170) - 4,709 Amounts reclassified from accumulated other comprehensive income 140 1,128 - 1,268 Total change in accumulated other comprehensive income 5,019 958 - 5,977 Balance as of December 31, 2017 (9,482) (6,780) - (16,262) |
Reclassification Out Of Accumulated Other Comprehensive Income | Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) 2017 2016 2015 (millions of dollars) Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) (234) - 14 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (1) (1,656) (1,531) (2,066) Realized change in fair value of stock investments included in net income (Statement of Income line: Other income) - - (42) (1) These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 17 – Pension and Other Postretirement Benefits for additional details.) |
Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income | Income Tax (Expense)/Credit For Components of Other Comprehensive Income 2017 2016 2015 (millions of dollars) Foreign exchange translation adjustment 67 43 170 Postretirement benefits reserves adjustment (excluding amortization) 201 (247) (1,192) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (491) (445) (618) Unrealized change in fair value of stock investments - - (17) Realized change in fair value of stock investments included in net income - - (15) Total (223) (649) (1,672) |
Cash Flow Information (Tables)
Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Cash Flow Information [Abstract] | |
Cash payments for interest and income taxes | 2017 2016 2015 (millions of dollars) Cash payments for interest 1,132 818 586 Cash payments for income taxes 7,510 4,214 7,269 |
Additional Working Capital In34
Additional Working Capital Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Additional Working Capital Information [Abstract] | |
Schedule Of Notes, Accounts Receivable And Payable, Loans Payable, And Accrued Liabilities | Dec. 31 Dec. 31 2017 2016 (millions of dollars) Notes and accounts receivable Trade, less reserves of $72 million and $75 million 21,274 16,033 Other, less reserves of $539 million and $627 million 4,323 5,361 Total 25,597 21,394 Notes and loans payable Bank loans 115 143 Commercial paper 13,049 10,727 Long-term debt due within one year 4,766 2,960 Total 17,930 13,830 Accounts payable and accrued liabilities Trade payables 21,701 17,801 Payables to equity companies 5,453 4,748 Accrued taxes other than income taxes 3,311 2,653 Other 6,331 5,991 Total 36,796 31,193 |
Equity Company Information (Tab
Equity Company Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Equity Company Information [Abstract] | |
Schedule Of Equity Company Financial Summary | 2017 2016 2015 Equity Company ExxonMobil ExxonMobil ExxonMobil Financial Summary Total Share Total Share Total Share (millions of dollars) Total revenues 94,791 29,340 80,247 24,668 111,866 34,297 Income before income taxes 29,748 8,498 22,269 6,509 36,379 10,670 Income taxes 8,421 2,236 6,334 1,701 11,048 3,019 Income from equity affiliates 21,327 6,262 15,935 4,808 25,331 7,651 Current assets 35,367 12,050 34,412 11,392 32,879 11,244 Long-term assets 122,221 34,931 109,646 32,357 109,684 32,878 Total assets 157,588 46,981 144,058 43,749 142,563 44,122 Current liabilities 21,725 6,348 20,507 5,765 22,947 6,738 Long-term liabilities 59,736 17,056 62,110 17,288 60,388 17,165 Net assets 76,127 23,577 61,441 20,696 59,228 20,219 |
Schedule Of The Corporation's Percentage Ownership Interest | Percentage Ownership Interest Upstream Aera Energy LLC 48 Barzan Gas Company Limited 7 BEB Erdgas und Erdoel GmbH & Co. KG 50 Cameroon Oil Transportation Company S.A. 41 Cross Timbers Energy, LLC 50 Golden Pass LNG Terminal LLC 18 Marine Well Containment Company LLC 10 Mozambique Rovuma Venture, S.p.A. 36 Nederlandse Aardolie Maatschappij B.V. 50 Qatar Liquefied Gas Company Limited (2) 24 Ras Laffan Liquefied Natural Gas Company Limited 25 Ras Laffan Liquefied Natural Gas Company Limited (II) 31 Ras Laffan Liquefied Natural Gas Company Limited (3) 30 South Hook LNG Terminal Company Limited 24 Tengizchevroil, LLP 25 Terminale GNL Adriatico S.r.l. 71 Downstream Fujian Refining & Petrochemical Co. Ltd. 25 Permian Express Partners LLC 12 Saudi Aramco Mobil Refinery Company Ltd. 50 Chemical Al-Jubail Petrochemical Company 50 Infineum Italia s.r.l. 50 Infineum Singapore Pte. Ltd. 50 Infineum USA L.P. 50 Saudi Yanbu Petrochemical Co. 50 |
Investments, Advances And Lon36
Investments, Advances And Long-Term Receivables (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Investments, Advances And Long-Term Receivables [Abstract] | |
Schedule Of Investments, Advances And Long-Term Receivables | Dec. 31, Dec. 31, 2017 2016 (millions of dollars) Companies carried at equity in underlying assets Investments 24,354 20,810 Advances 9,112 9,443 Total equity company investments and advances 33,466 30,253 Companies carried at cost or less and stock investments carried at fair value 174 154 Long-term receivables and miscellaneous investments at cost or less, net of reserves of $5,432 million and $4,141 million 5,520 4,695 Total 39,160 35,102 |
Property, Plant And Equipment37
Property, Plant And Equipment And Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant And Equipment And Asset Retirement Obligations [Abstract] | |
Property, Plant And Equipment | December 31, 2017 December 31, 2016 Property, Plant and Equipment Cost Net Cost Net (millions of dollars) Upstream 371,904 200,291 355,265 195,904 Downstream 50,343 21,732 47,915 20,588 Chemical 37,966 20,117 34,098 17,401 Other 16,972 10,490 16,637 10,331 Total 477,185 252,630 453,915 244,224 |
Asset Retirement Obligations | 2017 2016 (millions of dollars) Beginning balance 13,243 13,704 Accretion expense and other provisions 780 740 Reduction due to property sales (906) (134) Payments made (730) (549) Liabilities incurred 128 204 Foreign currency translation 611 (513) Revisions (421) (209) Ending balance 12,705 13,243 |
Accounting For Suspended Expl38
Accounting For Suspended Exploratory Well Costs (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting For Suspended Exploratory Well Costs [Abstract] | |
Change In Capitalized Suspended Exploratory Well Costs | 2017 2016 2015 (millions of dollars) Balance beginning at January 1 4,477 4,372 3,587 Additions pending the determination of proved reserves 906 180 847 Charged to expense (1,205) (111) (5) Reclassifications to wells, facilities and equipment based on the determination of proved reserves (497) - (43) Divestments/Other 19 36 (14) Ending balance at December 31 3,700 4,477 4,372 Ending balance attributed to equity companies included above 306 707 696 |
Period End Capitalized Suspended Exploratory Well Costs | 2017 2016 2015 (millions of dollars) Capitalized for a period of one year or less 906 180 847 Capitalized for a period of between one and five years 1,345 2,981 2,386 Capitalized for a period of between five and ten years 1,064 911 826 Capitalized for a period of greater than ten years 385 405 313 Capitalized for a period greater than one year - subtotal 2,794 4,297 3,525 Total 3,700 4,477 4,372 |
Number Of Projects With Suspended Exploratory Well Costs | 2017 2016 2015 Number of projects that only have exploratory well costs capitalized for a period of one year or less 11 2 4 Number of projects that have exploratory well costs capitalized for a period of greater than one year 46 58 55 Total 57 60 59 |
Additional Detail For Projects With Completed Exploratory Activity Progressing Toward Development | Years Dec. 31, Wells Country/Project 2017 Drilled Comment (millions of dollars) Angola - AB32 Central NE Hub 69 2006 - 2014 Evaluating development plan for tieback to existing production facilities. - Kaombo Split Hub 20 2005 - 2006 Evaluating development plan to tie into planned production facilities. Phase 2 - Perpetua-Zinia-Acacia 15 2008 - 2009 Oil field near Pazflor development, awaiting capacity in existing/planned infrastructure. Argentina - La Invernada 72 2014 Evaluating development plan to tie into planned infrastructure. Australia - East Pilchard 8 2001 Gas field near Kipper/Tuna development, awaiting capacity in existing/ planned infrastructure. - SE Longtom 12 2010 Gas field near Tuna development, awaiting capacity in existing/planned infrastructure. - SE Remora 36 2010 Gas field near Marlin development, awaiting capacity in existing/planned infrastructure. Indonesia - Kedung Keris 11 2011 Development activity under way to tie into planned production facilities. Iraq - Kurdistan Pirmam 109 2015 Evaluating commercialization alternatives, while waiting for government approval to enter Gas Holding Period. Kazakhstan - Kairan 53 2004 - 2007 Evaluating commercialization and field development alternatives, while continuing discussions with the government regarding the development plan. - Kalamkas 18 2006 - 2009 Evaluating development alternatives, while continuing discussions with the government regarding development plan. Malaysia - Bindu 2 1995 Awaiting capacity in existing/planned infrastructure. Nigeria - Bolia 15 2002 - 2006 Evaluating development plan, while continuing discussions with the government regarding regional hub strategy. - Bosi 79 2002 - 2006 Development activity under way, while continuing discussions with the government regarding development plan. - Bosi Central 16 2006 Development activity under way, while continuing discussions with the government regarding development plan. - Erha Northeast 26 2008 Evaluating development plan for tieback to existing production facilities. - OML 138 Ukot SW 41 2014 Evaluating development plan for tieback to existing production facilities. - OML 138 Ukot SS 13 2015 Evaluating development plan for tieback to existing production facilities. - Pegi 32 2009 Awaiting capacity in existing/planned infrastructure. - Satellite Field 12 2013 Evaluating development plan to tie into planned production facilities. Development Phase 2 - Other (3 projects) 7 2002 Evaluating and pursuing development of several additional discoveries. Norway - Gamma 14 2008 - 2009 Evaluating development plan for tieback to existing production facilities. - Lavrans 16 1995 - 1999 Evaluating development plan, awaiting capacity in existing Kristin production facility. - Other (7 projects) 27 2008 - 2014 Evaluating development plans, including potential for tieback to existing production facilities. Papua New Guinea - Juha 28 2007 Progressing development plans to tie into existing LNG facilities. Years Dec. 31, Wells Country/Project 2017 Drilled Comment (millions of dollars) Republic of Congo - Mer Tres Profonde Sud 56 2000 - 2007 Evaluating development alternatives, while continuing discussions with the government regarding development plan. Romania - Neptun Deep 536 2012 - 2016 Continuing discussions with the government regarding development plan. Vietnam - Blue Whale 296 2011 - 2015 Development planning activity under way, while continuing commercial discussions with the government. Total 2017 (36 projects) 1,639 |
Leased Facilities (Tables)
Leased Facilities (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Leased Facilities [Abstract] | |
Leased Facilities | Lease Payments Under Minimum Commitments Drilling Rigs and Related Equipment Other Total (millions of dollars) 2018 169 767 936 2019 131 537 668 2020 101 397 498 2021 70 297 367 2022 41 259 300 2023 and beyond 99 1,422 1,521 Total 611 3,679 4,290 |
Net Rental Cost | 2017 2016 2015 (millions of dollars) Rental cost Drilling rigs and related equipment 792 1,274 1,853 Other (net of sublease rental income) 1,826 1,817 2,076 Total 2,618 3,091 3,929 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Computation | Earnings per common share 2017 2016 2015 Net income attributable to ExxonMobil (millions of dollars) 19,710 7,840 16,150 Weighted average number of common shares outstanding (millions of shares) 4,256 4,177 4,196 Earnings per common share (dollars) (1) 4.63 1.88 3.85 Dividends paid per common share (dollars) 3.06 2.98 2.88 (1) The earnings per common share and earnings per common share - assuming dilution are the same in each period shown . |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Long-Term Debt [Abstract] | |
Summarized Long-Term Debt | Average Rate (1) 2017 2016 (millions of dollars) Exxon Mobil Corporation 1.305% notes due 2018 - 1,600 1.439% notes due 2018 - 1,000 Floating-rate notes due 2018 (Issued 2016) - 750 Floating-rate notes due 2018 (Issued 2015) - 500 1.819% notes due 2019 1,750 1,750 1.708% notes due 2019 1,250 1,250 Floating-rate notes due 2019 (Issued 2014) 1.345% 500 500 Floating-rate notes due 2019 (Issued 2016) 1.953% 250 250 1.912% notes due 2020 1,500 1,500 2.222% notes due 2021 2,500 2,500 2.397% notes due 2022 1,150 1,150 Floating-rate notes due 2022 1.557% 500 500 2.726% notes due 2023 1,250 1,250 3.176% notes due 2024 1,000 1,000 2.709% notes due 2025 1,750 1,750 3.043% notes due 2026 2,500 2,500 3.567% notes due 2045 1,000 1,000 4.114% notes due 2046 2,500 2,500 XTO Energy Inc. (2) 5.500% senior notes due 2018 - 371 6.500% senior notes due 2018 - 453 6.100% senior notes due 2036 195 197 6.750% senior notes due 2037 302 304 6.375% senior notes due 2038 232 233 Mobil Corporation 8.625% debentures due 2021 250 249 Industrial revenue bonds due 2019-2051 0.764% 2,559 2,559 Other U.S. dollar obligations 162 103 Other foreign currency obligations 34 57 Capitalized lease obligations 8.504% 1,327 1,225 Debt issuance costs (55) (69) Total long-term debt 24,406 28,932 (1) Average effect ive interest rate for debt and average imputed interest rate for capital leases at December 31, 2017. (2) Includes premiums of $102 million in 2017 and $138 million in 2016 . |
Incentive Program (Tables)
Incentive Program (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Incentive Program [Abstract] | |
Summary Of Restricted Stock And Units Outstanding | 2017 Weighted Average Grant-Date Restricted stock and units outstanding Shares Fair Value per Share (thousands) (dollars) Issued and outstanding at January 1 43,833 84.43 2016 award issued in 2017 9,582 87.70 Vested (10,136) 80.71 Forfeited (2,201) 80.11 Issued and outstanding at December 31 41,078 86.34 |
Grant Value Of Restricted Stock And Units | Value of restricted stock and units 2017 2016 2015 Grant price (dollars) 81.89 87.70 81.27 Value at date of grant: (millions of dollars) Restricted stock and units settled in stock 667 771 727 Units settled in cash 63 69 60 Total value 730 840 787 |
Litigation And Other Continge43
Litigation And Other Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Litigation And Other Contingencies [Abstract] | |
Schedule Of Guarantees | December 31, 2017 Equity Company Other Third-Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 98 270 368 Other 1,191 4,514 5,705 Total 1,289 4,784 6,073 (1) ExxonMobil share. |
Pension And Other Postretirem44
Pension And Other Postretirement Benefits (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Change In Benefit Obligation Of Pension And Other Postretirement Benefits | Pension Benefits Other Postretirement U.S. Non-U.S. Benefits 2017 2016 2017 2016 2017 2016 (percent) Weighted-average assumptions used to determine benefit obligations at December 31 Discount rate 3.80 4.25 2.80 3.00 3.80 4.25 Long-term rate of compensation increase 5.75 5.75 4.30 4.00 5.75 5.75 (millions of dollars) Change in benefit obligation Benefit obligation at January 1 19,960 19,583 25,196 25,117 7,800 8,282 Service cost 784 810 596 585 129 153 Interest cost 798 793 772 844 317 344 Actuarial loss/(gain) 733 250 250 1,409 231 (560) Benefits paid (1) (2) (2,964) (1,476) (1,291) (1,228) (543) (537) Foreign exchange rate changes - - 2,484 (1,520) 40 16 Amendments, divestments and other (1) - (44) (11) 126 102 Benefit obligation at December 31 19,310 19,960 27,963 25,196 8,100 7,800 Accumulated benefit obligation at December 31 15,557 16,245 25,557 22,867 - - (1) Benefit payments for funded and unfunded plans. (2) For 201 7 and 201 6 , other postretirement benefits paid are net of $16 million and $22 million of Medicare subsidy receipts , respectively . |
Change In Plan Assets Of Pension And Other Postretirement Benefits | Pension Benefits Other Postretirement U.S. Non-U.S. Benefits 2017 2016 2017 2016 2017 2016 (millions of dollars) Change in plan assets Fair value at January 1 12,793 10,985 19,043 18,417 411 414 Actual return on plan assets 1,831 949 1,442 2,443 40 20 Foreign exchange rate changes - - 1,776 (1,452) - - Company contribution 619 2,068 440 492 34 36 Benefits paid (1) (2,461) (1,209) (902) (857) (58) (59) Other - - (338) - - - Fair value at December 31 12,782 12,793 21,461 19,043 427 411 (1) Benefit payments for funded plans. |
Summary Of Assets In Excess Of/(Less Than) Benefit Obligation | Pension Benefits U.S. Non-U.S. 2017 2016 2017 2016 (millions of dollars) Assets in excess of/(less than) benefit obligation Balance at December 31 Funded plans (3,957) (4,306) 413 212 Unfunded plans (2,571) (2,861) (6,915) (6,365) Total (6,528) (7,167) (6,502) (6,153) |
Amounts Recorded In Balance Sheet And Other Comprehensive Income | Pension Benefits Other Postretirement U.S. Non-U.S. Benefits 2017 2016 2017 2016 2017 2016 (millions of dollars) Assets in excess of/(less than) benefit obligation Balance at December 31 (1) (6,528) (7,167) (6,502) (6,153) (7,673) (7,389) Amounts recorded in the consolidated balance sheet consist of: Other assets - - 1,403 1,035 - - Current liabilities (276) (409) (338) (294) (360) (361) Postretirement benefits reserves (6,252) (6,758) (7,567) (6,894) (7,313) (7,028) Total recorded (6,528) (7,167) (6,502) (6,153) (7,673) (7,389) Amounts recorded in accumulated other comprehensive income consist of: Net actuarial loss/(gain) 3,982 5,354 5,586 5,629 1,595 1,468 Prior service cost 11 15 (143) (123) (397) (430) Total recorded in accumulated other comprehensive income 3,993 5,369 5,443 5,506 1,198 1,038 (1) Fair value of assets less benefit obligation shown on the preceding page. |
Schedule Of Assumptions, Components Of Benefit Cost And Amounts Recorded In Accumulated Other Comprehensive Income For Pension And Other Postretirement Benefits | Other Pension Benefits Postretirement U.S. Non-U.S. Benefits 2017 2016 2015 2017 2016 2015 2017 2016 2015 Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31 (percent) Discount rate 4.25 4.25 4.00 3.00 3.60 3.10 4.25 4.25 4.00 Long-term rate of return on funded assets 6.50 6.50 7.00 5.20 5.25 5.90 6.50 6.50 7.00 Long-term rate of compensation increase 5.75 5.75 5.75 4.00 4.80 5.30 5.75 5.75 5.75 Components of net periodic benefit cost (millions of dollars) Service cost 784 810 864 596 585 689 129 153 170 Interest cost 798 793 785 772 844 850 317 344 346 Expected return on plan assets (775) (726) (830) (1,000) (927) (1,094) (24) (25) (28) Amortization of actuarial loss/(gain) 438 492 544 476 536 730 96 153 206 Amortization of prior service cost 5 6 6 47 54 87 (33) (30) (24) Net pension enhancement and curtailment/settlement cost 609 319 499 19 2 22 - - - Net periodic benefit cost 1,859 1,694 1,868 910 1,094 1,284 485 595 670 Changes in amounts recorded in accumulated other comprehensive income: Net actuarial loss/(gain) (324) 27 592 (191) (156) (1,375) 215 (555) (589) Amortization of actuarial (loss)/gain (1,047) (811) (1,043) (495) (538) (752) (96) (153) (206) Prior service cost/(credit) - - - 111 32 (401) - - (535) Amortization of prior service (cost)/credit (5) (6) (6) (47) (54) (87) 33 30 24 Foreign exchange rate changes - - - 559 (108) (1,126) 8 5 (31) Total recorded in other comprehensive income (1,376) (790) (457) (63) (824) (3,741) 160 (673) (1,337) Total recorded in net periodic benefit cost and other comprehensive income, before tax 483 904 1,411 847 270 (2,457) 645 (78) (667) |
Summary Of Change In Accumulated Other Comprehensive Income | Total Pension and Other Postretirement Benefits 2017 2016 2015 (millions of dollars) (Charge)/credit to other comprehensive income, before tax U.S. pension 1,376 790 457 Non-U.S. pension 63 824 3,741 Other postretirement benefits (160) 673 1,337 Total (charge)/credit to other comprehensive income, before tax 1,279 2,287 5,535 (Charge)/credit to income tax (see Note 4) (290) (692) (1,810) (Charge)/credit to investment in equity companies (43) (16) 81 (Charge)/credit to other comprehensive income including noncontrolling interests, after tax 946 1,579 3,806 Charge/(credit) to equity of noncontrolling interests 12 24 (202) (Charge)/credit to other comprehensive income attributable to ExxonMobil 958 1,603 3,604 |
Fair Value Of The Benefit Plan Assets (Pension) | U.S. Pension Non-U.S. Pension Fair Value Measurement Fair Value Measurement at December 31, 2017, Using: at December 31, 2017, Using: Net Net Asset Asset Level 1 Level 2 Level 3 Value (1) Total Level 1 Level 2 Level 3 Value (1) Total (millions of dollars) Asset category: Equity securities U.S. - - - 1,665 1,665 - - - 2,967 2,967 Non-U.S. - - - 1,570 1,570 111 (2) - - 2,903 3,014 Private equity - - - 532 532 - - - 522 522 Debt securities Corporate - 5,260 (3) - 1 5,261 - 131 (3) - 5,215 5,346 Government - 3,604 (3) - 2 3,606 237 (4) 32 (3) - 9,056 9,325 Asset-backed - - - 1 1 - 34 (3) - 72 106 Cash - - - 138 138 54 2 (5) - 102 158 Total at fair value - 8,864 - 3,909 12,773 402 199 - 20,837 21,438 Insurance contracts at contract value 9 23 Total plan assets 12,782 21,461 (1) Per ASU 2015-07, c ertain instruments that are measured at fair value using the Net Asset Value (NAV) per share practical expedient have not been categorize d in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets. (2) For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges. (3) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions. (4) For government debt securities that are traded on active exchanges, fair value is based on observable quoted prices . (5) For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 inpu t . U.S. Pension Non-U.S. Pension Fair Value Measurement Fair Value Measurement at December 31, 2016, Using: at December 31, 2016, Using: Net Net Asset Asset Level 1 Level 2 Level 3 Value (1) Total Level 1 Level 2 Level 3 Value (1) Total (millions of dollars) Asset category: Equity securities U.S. - - - 2,347 2,347 - - - 3,343 3,343 Non-U.S. - - - 2,126 2,126 142 (2) 2 (3) - 3,632 3,776 Private equity - - - 553 553 - - - 539 539 Debt securities Corporate - 4,978 (4) - 1 4,979 - 123 (4) - 4,075 4,198 Government - 2,635 (4) - 1 2,636 167 (5) 32 (4) - 6,753 6,952 Asset-backed - 3 (4) - 1 4 - 35 (4) - 72 107 Cash - - - 137 137 23 9 (6) - 73 105 Total at fair value - 7,616 - 5,166 12,782 332 201 - 18,487 19,020 Insurance contracts at contract value 11 23 Total plan assets 12,793 19,043 (1) Per ASU 2015-07, certain instruments that are measured at fair value using the Net Asset Value (NAV) per share practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets. (2) For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges. (3) For U.S. and non-U.S. equity secur ities held in the form of fund units that are redeemable at the measurement date, the published unit value is treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active exch anges, which ar e Level 1 inputs . (4) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions. (5) For government debt securities that are traded on active exchanges, fair value is based on o bservable quoted prices. ( 6 ) For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input . |
Fair Value Of The Benefit Plan Assets (Other Postretirement) | Other Postretirement Fair Value Measurement at December 31, 2017, Using: Net Asset Level 1 Level 2 Level 3 Value (1) Total (millions of dollars) Asset category: Equity securities U.S. - - - 73 73 Non-U.S. - - - 55 55 Private equity - - - - - Debt securities Corporate - 99 (2) - - 99 Government - 197 (2) - - 197 Asset-backed - 1 (2) - - 1 Cash - - - 2 2 Total at fair value - 297 - 130 427 (1) Per ASU 2015-07, c ertain instruments that are measured at fair value using the Net Asset Value (NAV) per share practical expedient have not been categorize d in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets. (2) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions. Other Postretirement Fair Value Measurement at December 31, 2016, Using: Net Asset Level 1 Level 2 Level 3 Value (1) Total (millions of dollars) Asset category: Equity securities U.S. - - - 98 98 Non-U.S. - - - 71 71 Private equity - - - - - Debt securities Corporate - 82 (2) - - 82 Government - 159 (2) - - 159 Asset-backed - 1 (2) - - 1 Cash - - - - - Total at fair value - 242 - 169 411 (1) Per ASU 2015-07, c ertain instruments that are measured at fair value using the Net Asset Value (NAV) per share practical expedient have not been categ orize d in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets. ( 2 ) For corporate, government and asset-backed debt securities, fair v alue is based on observable inputs of comparable market transactions. |
Pension Plans With Accumulated Benefit Obligation In Excess Of Plan Assets | Pension Benefits U.S. Non-U.S. 2017 2016 2017 2016 (millions of dollars) For funded pension plans with an accumulated benefit obligation in excess of plan assets: Projected benefit obligation 16,739 17,099 3,384 837 Accumulated benefit obligation 14,022 14,390 3,264 612 Fair value of plan assets 12,782 12,793 3,219 564 For unfunded pension plans: Projected benefit obligation 2,571 2,861 6,915 6,365 Accumulated benefit obligation 1,535 1,855 6,208 5,687 |
Estimated Next Year Amortization | Other Pension Benefits Postretirement U.S. Non-U.S. Benefits (millions of dollars) Estimated 2018 amortization from accumulated other comprehensive income: Net actuarial loss/(gain) (1) 539 412 112 Prior service cost (2) 5 47 (40) (1) The Corporation amortizes the net balance of actuarial losses/(gains) as a component of net periodic benefit cost over the average remaining service period of active plan participants. (2) The Corporation amortizes prior service cost on a straight-line basis as permitted under authoritative guidance for defined benefit pension and other postretirement benefit plans. |
Expected Contributions and Benefit Payments for Pension Benefits And Other Postretirement Benefits | Pension Benefits Other Postretirement Benefits Medicare U.S. Non-U.S. Gross Subsidy Receipt (millions of dollars) Contributions expected in 2018 490 720 - - Benefit payments expected in: 2018 1,364 1,183 459 25 2019 1,279 1,163 465 26 2020 1,267 1,197 469 28 2021 1,268 1,203 470 29 2022 1,285 1,220 468 30 2023 - 2027 6,355 6,162 2,329 174 |
Disclosures About Segments An45
Disclosures About Segments And Related Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosures About Segments And Related Information [Abstract] | |
Disclosures About Segments And Related Information | Corporate Upstream Downstream Chemical and Corporate U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Financing Total (millions of dollars) As of December 31, 2017 Earnings after income tax 6,622 6,733 1,948 3,649 2,190 2,328 (3,760) 19,710 Earnings of equity companies included above 216 3,618 118 490 90 1,217 (369) 5,380 Sales and other operating revenue 9,349 14,508 61,695 122,881 11,035 17,659 35 237,162 Intersegment revenue 5,729 22,935 14,857 22,263 7,270 5,550 208 - Depreciation and depletion expense 6,963 9,741 658 883 299 504 845 19,893 Interest revenue - - - - - - 36 36 Interest expense 87 29 1 6 - - 478 601 Income tax expense (benefit) (8,552) 5,463 (61) 934 362 664 16 (1,174) Effect of U.S. tax reform - noncash (7,602) 480 (618) - (335) - 2,133 (5,942) Additions to property, plant and equipment 9,761 8,617 769 1,551 1,330 2,019 854 24,901 Investments in equity companies 4,680 14,494 276 1,462 341 3,387 (286) 24,354 Total assets 89,048 155,822 18,172 34,294 13,363 21,133 16,859 348,691 As of December 31, 2016 Earnings after income tax (4,151) 4,347 1,094 3,107 1,876 2,739 (1,172) 7,840 Earnings of equity companies included above 53 3,359 58 404 111 1,188 (367) 4,806 Sales and other operating revenue (1) 7,552 12,278 52,630 102,756 9,944 15,447 21 200,628 Intersegment revenue 3,827 18,099 11,796 18,775 6,404 4,211 236 - Depreciation and depletion expense 9,626 9,550 628 889 275 477 863 22,308 Interest revenue - - - - - - 30 30 Interest expense 17 29 1 8 - - 398 453 Income tax expense (benefit) (2,600) 1,818 396 951 693 609 (2,273) (406) Additions to property, plant and equipment 3,144 7,878 791 1,525 1,463 482 817 16,100 Investments in equity companies 4,917 11,364 111 1,255 158 3,247 (242) 20,810 Total assets 86,146 153,183 16,201 29,208 11,600 18,453 15,523 330,314 As of December 31, 2015 Earnings after income tax (1,079) 8,180 1,901 4,656 2,386 2,032 (1,926) 16,150 Earnings of equity companies included above 226 5,831 170 444 144 1,235 (406) 7,644 Sales and other operating revenue (1) 8,241 15,446 69,706 119,050 10,879 16,524 8 239,854 Intersegment revenue 4,344 20,839 12,440 22,166 7,442 5,168 274 - Depreciation and depletion expense 5,301 9,227 664 1,003 375 654 824 18,048 Interest revenue - - - - - - 46 46 Interest expense 26 27 8 4 - 1 245 311 Income tax expense (benefit) (879) 4,703 866 1,325 646 633 (1,879) 5,415 Additions to property, plant and equipment 6,915 14,561 916 1,477 1,865 629 1,112 27,475 Investments in equity companies 5,160 10,980 95 1,179 125 3,025 (227) 20,337 Total assets 93,648 155,316 16,498 29,808 10,174 18,236 13,078 336,758 (1) Sales and other operating revenue excludes previously reported sales-based taxes of $17,980 million for 2016 and $19,634 million for 2015. See Note 2 : Accounting Changes. |
Geographic Sales And Other Operating Revenue | Geographic Sales and other operating revenue (1) 2017 2016 2015 (millions of dollars) United States 82,079 70,126 88,826 Non-U.S. 155,083 130,502 151,028 Total 237,162 200,628 239,854 Significant non-U.S. revenue sources include: Canada 20,116 17,682 19,076 United Kingdom 16,611 15,452 20,605 Belgium 13,633 10,834 12,481 Singapore 11,589 9,919 10,632 Italy 11,476 9,715 11,220 France 11,235 9,487 10,631 Germany 8,484 7,899 8,447 (1) Sales and other operating revenue excludes previously reported sales-based taxes of $17,980 million for 2016 and $19,634 million for 2015. See Note 2 : Accounting Changes. |
Schedule Of Long-Lived Assets By Geographic Regions | Long-lived assets 2017 2016 2015 (millions of dollars) United States 105,101 101,194 107,039 Non-U.S. 147,529 143,030 144,566 Total 252,630 244,224 251,605 Significant non-U.S. long-lived assets include: Canada 41,138 40,144 39,775 Australia 16,908 16,510 15,894 Singapore 11,292 9,769 9,681 Kazakhstan 10,121 10,325 9,705 Nigeria 9,734 11,314 12,222 Papua New Guinea 8,463 5,719 5,985 Angola 7,689 8,413 8,777 Russia 5,702 4,828 4,744 |
Income And Other Taxes (Tables)
Income And Other Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income And Other Taxes [Abstract] | |
Schedule Of Income And Other Taxes | 2017 2016 2015 U.S. Non-U.S. Total U.S. Non-U.S. Total U.S. Non-U.S. Total (millions of dollars) Income tax expense Federal and non-U.S. Current 577 6,633 7,210 (214) 4,056 3,842 - 7,126 7,126 Deferred - net (9,075) 754 (8,321) (2,801) (1,422) (4,223) (1,166) (571) (1,737) U.S. tax on non-U.S. operations 17 - 17 41 - 41 38 - 38 Total federal and non-U.S. (8,481) 7,387 (1,094) (2,974) 2,634 (340) (1,128) 6,555 5,427 State (80) - (80) (66) - (66) (12) - (12) Total income tax expense (8,561) 7,387 (1,174) (3,040) 2,634 (406) (1,140) 6,555 5,415 All other taxes and duties Other taxes and duties 3,330 26,774 30,104 3,209 25,811 29,020 3,206 27,103 30,309 Included in production and manufacturing expenses 1,107 747 1,854 1,052 808 1,860 1,157 828 1,985 Included in SG&A expenses 147 354 501 133 362 495 150 390 540 Total other taxes and duties 4,584 27,875 32,459 4,394 26,981 31,375 4,513 28,321 32,834 Total (3,977) 35,262 31,285 1,354 29,615 30,969 3,373 34,876 38,249 Sales-based taxes were previously reported gross on the income statem ent and included in total taxes in the above table. See Note 2: A ccounting Changes. |
Reconciliation Between Income Tax Expense And A Theoretical U.S. Tax | 2017 2016 2015 (millions of dollars) Income before income taxes United States (754) (5,832) 147 Non-U.S. 19,428 13,801 21,819 Total 18,674 7,969 21,966 Theoretical tax 6,536 2,789 7,688 Effect of equity method of accounting (1,883) (1,682) (2,675) Non-U.S. taxes in excess of/(less than) theoretical U.S. tax (1) 1,848 (582) 1,415 Effect of U.S. tax reform (5,942) - - Other (2) (1,733) (931) (1,013) Total income tax expense (1,174) (406) 5,415 Effective tax rate calculation Income taxes (1,174) (406) 5,415 ExxonMobil share of equity company income taxes 2,228 1,692 3,011 Total income taxes 1,054 1,286 8,426 Net income including noncontrolling interests 19,848 8,375 16,551 Total income before taxes 20,902 9,661 24,977 Effective income tax rate 5% 13% 34% (1) 2016 includes a $227 million expense from an adjustment to deferred taxes and a $548 million benefit from an adjustment to a tax position in prior years. (2) 2017 includes an exploration tax benefit of $708 million . 2016 includes an exploration tax benefit of $198 million and benefits from an adjustment to a prior year tax position of $176 million . |
Deferred Tax Liabilities/(Assets) | Tax effects of temporary differences for: 2017 2016 (millions of dollars) Property, plant and equipment 36,559 46,744 Other liabilities 5,625 4,262 Total deferred tax liabilities 42,184 51,006 Pension and other postretirement benefits (4,338) (6,053) Asset retirement obligations (4,237) (5,454) Tax loss carryforwards (6,767) (5,472) Other assets (5,832) (5,615) Total deferred tax assets (21,174) (22,594) Asset valuation allowances 2,565 1,509 Net deferred tax liabilities 23,575 29,921 |
Deferred Income Tax (Assets) And Liabilities By Balance Sheet Classification | Balance sheet classification 2017 2016 (millions of dollars) Other assets, including intangibles, net (3,318) (4,120) Deferred income tax liabilities 26,893 34,041 Net deferred tax liabilities 23,575 29,921 |
Unrecognized Tax Benefits | Gross unrecognized tax benefits 2017 2016 2015 (millions of dollars) Balance at January 1 9,468 9,396 8,986 Additions based on current year's tax positions 522 655 903 Additions for prior years' tax positions 523 534 496 Reductions for prior years' tax positions (865) (1,019) (190) Reductions due to lapse of the statute of limitations (113) (7) (4) Settlements with tax authorities (782) (70) (725) Foreign exchange effects/other 30 (21) (70) Balance at December 31 8,783 9,468 9,396 |
Remaining Tax Years Subject To Examination By Major Tax Jurisdiction | Country of Operation Open Tax Years Abu Dhabi 2014 - 2017 Angola 2016 - 2017 Australia 2008 - 2017 Belgium 2015 - 2017 Canada 1998 - 2017 Equatorial Guinea 2007 - 2017 Indonesia 2007 - 2017 Iraq 2012 - 2017 Malaysia 2009 - 2017 Nigeria 2006 - 2017 Norway 2007 - 2017 Papua New Guinea 2008 - 2017 Russia 2015 - 2017 United Kingdom 2015 - 2017 United States 2006 - 2017 |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Business Combinations [Abstract] | |
Schedule Of Business Acquisitions By Acquisition | IOC Permian (billions of dollars) Current assets 0.6 - Property, plant and equipment 2.9 6.3 Other 0.6 - Total assets 4.1 6.3 Current liabilities 0.5 - Long-term liabilities 0.9 0.1 Total liabilities 1.4 0.1 Net assets acquired 2.7 6.2 |
Accounting Changes (Details)
Accounting Changes (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||
Sales and other operating revenue | [1] | $ 237,162 | $ 200,628 | [2] | $ 239,854 | [2] |
Sales-based taxes | [2] | 17,980 | 19,634 | |||
Other taxes and duties | $ 30,104 | 29,020 | 30,309 | |||
Previously Reported | ||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||
Sales and other operating revenue | 218,608 | 259,488 | ||||
Sales-based taxes | 21,090 | 22,678 | ||||
Other taxes and duties | 25,910 | 27,265 | ||||
Restatement Adjustment | ||||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||||
Sales and other operating revenue | (17,980) | (19,634) | ||||
Sales-based taxes | (21,090) | (22,678) | ||||
Other taxes and duties | $ 3,110 | $ 3,044 | ||||
[1] | Effective December 31, 2017, the Corporation revised its accounting policy election related to sales-based taxes. See Note 2: Accounting Changes. | |||||
[2] | Sales and other operating revenue excludes previously reported sales-based taxes of $17,980 million for 2016 and $19,634 million for 2015. See Note 2: Accounting Changes. |
Miscellaneous Financial Infor49
Miscellaneous Financial Information (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Miscellaneous Financial Information [Abstract] | |||
Research and development expense | $ 1,063 | $ 1,058 | $ 1,008 |
Foreign currency transaction gain/(loss), before tax | 6 | 29 | (119) |
Gains/(losses) on combined effects of LIFO inventory accumulations and draw-downs | (10) | (295) | $ (186) |
Aggregate replacement cost of inventories estimated to exceed LIFO carrying values | $ 10,800 | $ 8,100 |
Miscellaneous Financial Infor50
Miscellaneous Financial Information (Crude Oil, Products And Merchandise) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Miscellaneous Financial Information [Abstract] | ||
Crude oil | $ 4,600 | $ 3,900 |
Petroleum products | 4,300 | 3,700 |
Chemical products | 3,300 | 2,800 |
Gas / other | 700 | 500 |
Total | $ 12,871 | $ 10,877 |
Other Comprehensive Income In51
Other Comprehensive Income Information (Schedule of Accumulated Other Comprehensive Income Information) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease [Abstract] | |||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | $ 5,352 | $ (174) | $ (9,303) |
Amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 234 | (14) | |
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease [Abstract] | |||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | (219) | 493 | 2,358 |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 1,165 | 1,086 | 1,448 |
Other Comprehensive Income Available For Sale Securities Adjustment Net Of Tax Period Increase Decrease [Abstract] | |||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Unrealized Change in Stock Investments | 33 | ||
Amounts reclassified from accumulated other comprehensive income, Unrealized Change in Stock Investments | 27 | ||
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | |||
Beginning Balance, Total | (22,239) | ||
Ending Balance, Total | (16,262) | (22,239) | |
Exxon Mobil Corporation Share After Noncontrolling Interest [Member] | |||
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease [Abstract] | |||
Beginning Balance, Cumulative Foreign Exchange Translation Adjustment | (14,501) | (14,170) | (5,952) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 4,879 | (331) | (8,204) |
Amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 140 | (14) | |
Total change in accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 5,019 | (331) | (8,218) |
Ending Balance, Cumulative Foreign Exchange Translation Adjustment | (9,482) | (14,501) | (14,170) |
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease [Abstract] | |||
Beginning Balance, Postretirement Benefits Reserves Adjustment | (7,738) | (9,341) | (12,945) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | (170) | 552 | 2,202 |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 1,128 | 1,051 | 1,402 |
Total change in accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 958 | 1,603 | 3,604 |
Ending Balance, Postretirement Benefits Reserves Adjustment | (6,780) | (7,738) | (9,341) |
Other Comprehensive Income Available For Sale Securities Adjustment Net Of Tax Period Increase Decrease [Abstract] | |||
Beginning Balance, Unrealized Change in Stock Investments | (60) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Unrealized Change in Stock Investments | 33 | ||
Amounts reclassified from accumulated other comprehensive income, Unrealized Change in Stock Investments | 27 | ||
Total change in accumulated other comprehensive income, Unrealized Change in Stock Investments | 60 | ||
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | |||
Beginning Balance, Total | (22,239) | (23,511) | (18,957) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Total | 4,709 | 221 | (5,969) |
Amounts reclassified from accumulated other comprehensive income, Total | 1,268 | 1,051 | 1,415 |
Total other comprehensive income | 5,977 | 1,272 | (4,554) |
Ending Balance, Total | $ (16,262) | $ (22,239) | $ (23,511) |
Other Comprehensive Income In52
Other Comprehensive Income Information (Amounts Reclassified Out Of Acc Other Comp Income) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Other Comprehensive Income Information Before Tax [Abstract] | ||||
Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) | $ (234) | $ 14 | ||
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | [1] | $ (1,656) | $ (1,531) | (2,066) |
Realized change in fair value of stock investments included in net income (Statement of Income line: Other income) | $ (42) | |||
[1] | These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 17 – Pension and Other Postretirement Benefits for additional details.) |
Other Comprehensive Income In53
Other Comprehensive Income Information (Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Other Comprehensive Income Information Tax [Abstract] | |||
Foreign exchange translation adjustment | $ 67 | $ 43 | $ 170 |
Postretirement benefits reserves adjustment (excluding amortization) | 201 | (247) | (1,192) |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | (491) | (445) | (618) |
Unrealized change in fair value of stock investments | (17) | ||
Realized change in fair value of stock investments included in net income | (15) | ||
Total | $ (223) | $ (649) | $ (1,672) |
Cash Flow Information (Cash Pay
Cash Flow Information (Cash Payments For Interest And Income Taxes) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash Flow Information [Abstract] | |||
Cash payments for interest | $ 1,132 | $ 818 | $ 586 |
Cash payments for income taxes | 7,510 | 4,214 | 7,269 |
Proceeds from sales of assets | 3,103 | 4,275 | 2,389 |
Asset Exchange [Member] | |||
Asset exchanges, primarily noncash | 500 | ||
Proceeds from sales of assets | 100 | ||
Capital lease obligations incurred | 1,000 | ||
Maturity Greater Than Three Months [Member] | |||
Net cash flow from issuance/(repayment) of commercial paper | (121) | 608 | 358 |
Proceeds from issuance of commercial paper | 3,600 | 3,900 | 8,100 |
Repayments of commercial paper | $ 3,700 | $ 3,300 | $ 7,700 |
Additional Working Capital In55
Additional Working Capital Information (Narrative) (Details) - USD ($) $ in Billions | Dec. 31, 2017 | Dec. 31, 2016 |
Line Of Credit Facility [Line Items] | ||
Weighted-average interest rate on short-term borrowings outstanding | 1.30% | 0.60% |
Short Term Financing [Member] | ||
Line Of Credit Facility [Line Items] | ||
Unused credit lines | $ 5.4 |
Additional Working Capital In56
Additional Working Capital Information (Schedule Of Notes, Accounts Receivable And Payable, Loans Payable, Accrued Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Notes and Accounts Receivable [Abstract] | ||
Trade notes and accounts receivable, less reserves of $72 million and $75 million | $ 21,274 | $ 16,033 |
Other notes and accounts receivable, less reserves of $539 million and $627 million | 4,323 | 5,361 |
Total notes and accounts receivable | 25,597 | 21,394 |
Trade notes and accounts receivable, reserves | 72 | 75 |
Other notes and accounts receivable, reserves | 539 | 627 |
Notes And Loans Payable [Abstract] | ||
Bank loans | 115 | 143 |
Commercial paper | 13,049 | 10,727 |
Long-term debt due within one year | 4,766 | 2,960 |
Total notes and loans payable | 17,930 | 13,830 |
Accounts Payable And Accrued Liabilities Current [Abstract] | ||
Trade payables | 21,701 | 17,801 |
Payables to equity companies | 5,453 | 4,748 |
Accrued taxes other than income taxes | 3,311 | 2,653 |
Other accounts payable and accrued liabilities | 6,331 | 5,991 |
Total accounts payable and accrued liabilities | $ 36,796 | $ 31,193 |
Equity Company Information (Nar
Equity Company Information (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017USD ($)Projects | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Equity Method Investments [Line Items] | |||
Share of equity company sales revenues from sales to consolidated companies | 15.00% | 14.00% | 15.00% |
Rosneft Joint Venture [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
After-tax loss from Rosneft JV's | $ 200 | ||
Expected Date of Withdrawal from Rosneft JV | 2,018 | ||
Mozambique Rovuma Venture SpA [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Indirect Interest In Mozambique Properties | 25.00% | ||
Investment to acquire shares in Mozambique | $ 3,000 | ||
Number of JV companies | Projects | 4 | ||
Date of acquisition | Dec. 13, 2017 |
Equity Company Information (Sch
Equity Company Information (Schedule Of Equity Company Financial Summary) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Equity Method Investments [Line Items] | |||
Investments (Companies carried at equity in underlying assets) | $ 24,354 | $ 20,810 | $ 20,337 |
Total Equity Company Including All Owners [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Total revenues | 94,791 | 80,247 | 111,866 |
Income before income taxes | 29,748 | 22,269 | 36,379 |
Income taxes | 8,421 | 6,334 | 11,048 |
Income from equity affiliates | 21,327 | 15,935 | 25,331 |
Current assets | 35,367 | 34,412 | 32,879 |
Long-term assets | 122,221 | 109,646 | 109,684 |
Total assets | 157,588 | 144,058 | 142,563 |
Current liabilities | 21,725 | 20,507 | 22,947 |
Long-term liabilities | 59,736 | 62,110 | 60,388 |
Investments (Companies carried at equity in underlying assets) | 76,127 | 61,441 | 59,228 |
Exxon Mobil Corporation Share After Noncontrolling Interest [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Total revenues | 29,340 | 24,668 | 34,297 |
Income before income taxes | 8,498 | 6,509 | 10,670 |
Income taxes | 2,236 | 1,701 | 3,019 |
Income from equity affiliates | 6,262 | 4,808 | 7,651 |
Current assets | 12,050 | 11,392 | 11,244 |
Long-term assets | 34,931 | 32,357 | 32,878 |
Total assets | 46,981 | 43,749 | 44,122 |
Current liabilities | 6,348 | 5,765 | 6,738 |
Long-term liabilities | 17,056 | 17,288 | 17,165 |
Investments (Companies carried at equity in underlying assets) | $ 23,577 | $ 20,696 | $ 20,219 |
Equity Company Information (S59
Equity Company Information (Schedule Of The Corporation's Percentage Ownership Interest) (Details) | Dec. 31, 2017 |
Upstream [Member] | Aera Energy LLC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 48.00% |
Upstream [Member] | Barzan Gas Company Limited [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 7.00% |
Upstream [Member] | BEB Erdgas und Erdoel GmbH & Co. KG [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 50.00% |
Upstream [Member] | Cameroon Oil Transportation Company S.A. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 41.00% |
Upstream [Member] | Cross Timbers Energy, LLC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 50.00% |
Upstream [Member] | Golden Pass LNG Terminal LLC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 18.00% |
Upstream [Member] | Marine Well Containment Company LLC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 10.00% |
Upstream [Member] | Mozambique Rovuma Venture, S.p.A. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 36.00% |
Upstream [Member] | Nederlandse Aardolie Maatschappij B.V. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 50.00% |
Upstream [Member] | Qatar Liquefied Gas Company Limited (2) [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 24.00% |
Upstream [Member] | Ras Laffan Liquefied Natural Gas Company Limited [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 25.00% |
Upstream [Member] | Ras Laffan Liquefied Natural Gas Company Limited (II) [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 31.00% |
Upstream [Member] | Ras Laffan Liquefied Natural Gas Company Limited (3) [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 30.00% |
Upstream [Member] | South Hook LNG Terminal Company Limited [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 24.00% |
Upstream [Member] | Tengizchevroil, LLP [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 25.00% |
Upstream [Member] | Terminale GNL Adriatico S.r.l. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 71.00% |
Downstream [Member] | Fujian Refining & Petrochemical Co. Ltd. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 25.00% |
Downstream [Member] | Permian Express Partners LLC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 12.00% |
Downstream [Member] | Saudi Aramco Mobil Refinery Company Ltd. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 50.00% |
Chemical [Member] | Al-Jubail Petrochemical Company [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 50.00% |
Chemical [Member] | Infineum Italia s.r.l. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 50.00% |
Chemical [Member] | Infineum Singapore Pte. Ltd. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 50.00% |
Chemical [Member] | Infineum USA L.P. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 50.00% |
Chemical [Member] | Saudi Yanbu Petrochemical Co. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 50.00% |
Investments, Advances And Lon60
Investments, Advances And Long-Term Receivables (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Investments, Advances And Long-Term Receivables [Abstract] | |||
Investments (Companies carried at equity in underlying assets) | $ 24,354 | $ 20,810 | $ 20,337 |
Advances (Companies carried at equity in underlying assets) | 9,112 | 9,443 | |
Total equity company investments and advances | 33,466 | 30,253 | |
Companies carried at cost or less and stock investments carried at fair value | 174 | 154 | |
Long-term receivables and miscellaneous investments at cost or less, net of reserves of $5,432 million and $4,141 million | 5,520 | 4,695 | |
Total | 39,160 | 35,102 | |
Reserves for long-term receivables and miscellaneous investments | $ 5,432 | $ 4,141 |
Property, Plant And Equipment61
Property, Plant And Equipment And Asset Retirement Obligations (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | |||
Accumulated depreciation and depletion | $ 224,555 | $ 209,691 | |
Interest capitalized | 749 | 708 | $ 482 |
Long-term asset retirement obligations | 11,928 | $ 12,352 | |
U.S. [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Asset impairment charges, before-tax | 800 | ||
Non-U.S. [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Asset impairment charges, before-tax | 900 | ||
Other asset impairment charges, before-tax | $ 300 | ||
Fair Value Inputs Level 3 [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Fair value inputs, discount rate | 5.50% | ||
Fair Value Inputs Level 3 [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Fair value inputs, discount rate | 8.00% |
Property, Plant And Equipment62
Property, Plant And Equipment And Asset Retirement Obligations (Property, Plant And Equipment) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | $ 477,185 | $ 453,915 | |
Property, plant and equipment, net | 252,630 | 244,224 | $ 251,605 |
Upstream [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | 371,904 | 355,265 | |
Property, plant and equipment, net | 200,291 | 195,904 | |
Downstream [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | 50,343 | 47,915 | |
Property, plant and equipment, net | 21,732 | 20,588 | |
Chemical [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | 37,966 | 34,098 | |
Property, plant and equipment, net | 20,117 | 17,401 | |
Other [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | 16,972 | 16,637 | |
Property, plant and equipment, net | $ 10,490 | $ 10,331 |
Property, Plant And Equipment63
Property, Plant And Equipment And Asset Retirement Obligations (Asset Retirement Obligations) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant And Equipment And Asset Retirement Obligations [Abstract] | ||
Beginning balance | $ 13,243 | $ 13,704 |
Accretion expense and other provisions | 780 | 740 |
Reduction due to property sales | (906) | (134) |
Payments made | (730) | (549) |
Liabilities incurred | 128 | 204 |
Foreign currency translation | 611 | (513) |
Revisions | (421) | (209) |
Ending balance | $ 12,705 | $ 13,243 |
Accounting For Suspended Expl64
Accounting For Suspended Exploratory Well Costs (Narrative) (Details) $ in Millions | Dec. 31, 2017USD ($)Projects | Dec. 31, 2016USD ($)Projects | Dec. 31, 2015USD ($)Projects | Dec. 31, 2014USD ($) |
Exploratory Wells Drilled [Line Items] | ||||
Number of projects that have exploratory well costs capitalized for a period of greater than one year | 46 | 58 | 55 | |
Number of projects that have drilling in the preceding twelve months or exploratory activity planned in the next two years as of December 31, 2017 | 10 | |||
Number of projects with completed exploratory activity progressing toward development as of December 31, 2017 | 36 | |||
Capitalized exploratory well costs | $ | $ 3,700 | $ 4,477 | $ 4,372 | $ 3,587 |
36 Projects [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ | $ 1,639 |
Accounting For Suspended Expl65
Accounting For Suspended Exploratory Well Costs (Change In Capitalized Suspended Exploratory Well Costs) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounting For Suspended Exploratory Well Costs [Abstract] | |||
Capitalized suspended exploratory well costs, beginning balance | $ 4,477 | $ 4,372 | $ 3,587 |
Additions pending the determination of proved reserves | 906 | 180 | 847 |
Charged to expense | (1,205) | (111) | (5) |
Reclassifications to wells, facilities and equipment based on the determination of proved reserves | (497) | (43) | |
Divestments/Other | 19 | 36 | (14) |
Capitalized suspended exploratory well costs, ending balance | 3,700 | 4,477 | 4,372 |
Ending balance attributed to equity companies included above | $ 306 | $ 707 | $ 696 |
Accounting For Suspended Expl66
Accounting For Suspended Exploratory Well Costs (Schedule Of Period End Capitalized Suspended Exploratory Well Costs) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items] | ||||
Capitalized for a period of one year or less | $ 906 | $ 180 | $ 847 | |
Capitalized for a period greater than one year - subtotal | 2,794 | 4,297 | 3,525 | |
Capitalized suspended exploratory well costs, total | 3,700 | 4,477 | 4,372 | $ 3,587 |
Capitalized For A Period Of Between One And Five Years [Member] | ||||
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items] | ||||
Capitalized for a period greater than one year - subtotal | 1,345 | 2,981 | 2,386 | |
Capitalized For A Period Of Between Five And Ten Years [Member] | ||||
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items] | ||||
Capitalized for a period greater than one year - subtotal | 1,064 | 911 | 826 | |
Capitalized For A Period Of Greater Than Ten Years [Member] | ||||
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items] | ||||
Capitalized for a period greater than one year - subtotal | $ 385 | $ 405 | $ 313 |
Accounting For Suspended Expl67
Accounting For Suspended Exploratory Well Costs (Schedule Of Number Of Projects With Suspended Exploratory Well Costs) (Details) - Projects | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Accounting For Suspended Exploratory Well Costs [Abstract] | |||
Number of projects that only have exploratory well costs capitalized for a period of one year or less | 11 | 2 | 4 |
Number of projects that have exploratory well costs capitalized for a period of greater than one year | 46 | 58 | 55 |
Total | 57 | 60 | 59 |
Accounting For Suspended Expl68
Accounting For Suspended Exploratory Well Costs (Schedule Of Additional Detail For The Projects) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 3,700 | $ 4,477 | $ 4,372 | $ 3,587 |
36 Projects [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | 1,639 | |||
Angola [Member] | Project in Angola - AB32 Central NE Hub [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 69 | |||
Angola [Member] | Project in Angola - AB32 Central NE Hub [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,006 | |||
Angola [Member] | Project in Angola - AB32 Central NE Hub [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,014 | |||
Angola [Member] | Project In Angola - Kaombo Split Hub Phase 2[Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 20 | |||
Angola [Member] | Project In Angola - Kaombo Split Hub Phase 2[Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,005 | |||
Angola [Member] | Project In Angola - Kaombo Split Hub Phase 2[Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,006 | |||
Angola [Member] | Project In Angola - Perpetua-Zinia- Acacia [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 15 | |||
Angola [Member] | Project In Angola - Perpetua-Zinia- Acacia [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,008 | |||
Angola [Member] | Project In Angola - Perpetua-Zinia- Acacia [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,009 | |||
Argentina [Member] | Project in Argentina - La Invernada [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 72 | |||
Argentina [Member] | Project in Argentina - La Invernada [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,014 | |||
Argentina [Member] | Project in Argentina - La Invernada [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,014 | |||
Australia [Member] | Project In Australia - East Pilchard [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 8 | |||
Australia [Member] | Project In Australia - East Pilchard [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,001 | |||
Australia [Member] | Project In Australia - East Pilchard [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,001 | |||
Australia [Member] | Project In Australia - SE Longtom [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 12 | |||
Australia [Member] | Project In Australia - SE Longtom [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,010 | |||
Australia [Member] | Project In Australia - SE Longtom [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,010 | |||
Australia [Member] | Project in Australia - SE Remora [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 36 | |||
Australia [Member] | Project in Australia - SE Remora [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,010 | |||
Australia [Member] | Project in Australia - SE Remora [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,010 | |||
Indonesia [Member] | Project in Indonesia - Kedung Keris [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 11 | |||
Indonesia [Member] | Project in Indonesia - Kedung Keris [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,011 | |||
Indonesia [Member] | Project in Indonesia - Kedung Keris [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,011 | |||
Iraq [Member] | Project in Iraq - Kurdistan Pirmam | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 109 | |||
Iraq [Member] | Project in Iraq - Kurdistan Pirmam | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,015 | |||
Iraq [Member] | Project in Iraq - Kurdistan Pirmam | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,015 | |||
Kazakhstan [Member] | Project In Kazakhstan - Kairan [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 53 | |||
Kazakhstan [Member] | Project In Kazakhstan - Kairan [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,004 | |||
Kazakhstan [Member] | Project In Kazakhstan - Kairan [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,007 | |||
Kazakhstan [Member] | Project in Kazakhstan - Kalamkas | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 18 | |||
Kazakhstan [Member] | Project in Kazakhstan - Kalamkas | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,006 | |||
Kazakhstan [Member] | Project in Kazakhstan - Kalamkas | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,009 | |||
Malaysia [Member] | Project in Malaysia - Bindu [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 2 | |||
Malaysia [Member] | Project in Malaysia - Bindu [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 1,995 | |||
Malaysia [Member] | Project in Malaysia - Bindu [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 1,995 | |||
Nigeria [Member] | Project In Nigeria - Bolia [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 15 | |||
Nigeria [Member] | Project In Nigeria - Bolia [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,002 | |||
Nigeria [Member] | Project In Nigeria - Bolia [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,006 | |||
Nigeria [Member] | Project In Nigeria - Bosi [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 79 | |||
Nigeria [Member] | Project In Nigeria - Bosi [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,002 | |||
Nigeria [Member] | Project In Nigeria - Bosi [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,006 | |||
Nigeria [Member] | Project in Nigeria - Bosi Central [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 16 | |||
Nigeria [Member] | Project in Nigeria - Bosi Central [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,006 | |||
Nigeria [Member] | Project in Nigeria - Bosi Central [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,006 | |||
Nigeria [Member] | Project in Nigeria - Erha Northeast [Member} | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 26 | |||
Nigeria [Member] | Project in Nigeria - Erha Northeast [Member} | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,008 | |||
Nigeria [Member] | Project in Nigeria - Erha Northeast [Member} | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,008 | |||
Nigeria [Member] | Project In Nigeria - OML 138 Ukot SW [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 41 | |||
Nigeria [Member] | Project In Nigeria - OML 138 Ukot SW [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,014 | |||
Nigeria [Member] | Project In Nigeria - OML 138 Ukot SW [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,014 | |||
Nigeria [Member] | Project In Nigeria - OML 138 Ukot SS [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 13 | |||
Nigeria [Member] | Project In Nigeria - OML 138 Ukot SS [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,015 | |||
Nigeria [Member] | Project In Nigeria - OML 138 Ukot SS [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,015 | |||
Nigeria [Member] | Project In Nigeria - Pegi [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 32 | |||
Nigeria [Member] | Project In Nigeria - Pegi [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,009 | |||
Nigeria [Member] | Project In Nigeria - Pegi [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,009 | |||
Nigeria [Member] | Project in Nigeria - Satellite Field Development Phase 2 [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 12 | |||
Nigeria [Member] | Project in Nigeria - Satellite Field Development Phase 2 [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,013 | |||
Nigeria [Member] | Project in Nigeria - Satellite Field Development Phase 2 [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,013 | |||
Nigeria [Member] | Other 3 Projects In Nigeria [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 7 | |||
Nigeria [Member] | Other 3 Projects In Nigeria [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,002 | |||
Nigeria [Member] | Other 3 Projects In Nigeria [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,002 | |||
Norway [Member] | Project in Norway - Gamma [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 14 | |||
Norway [Member] | Project in Norway - Gamma [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,008 | |||
Norway [Member] | Project in Norway - Gamma [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,009 | |||
Norway [Member] | Project In Norway - Lavrans [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 16 | |||
Norway [Member] | Project In Norway - Lavrans [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 1,995 | |||
Norway [Member] | Project In Norway - Lavrans [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 1,999 | |||
Norway [Member] | Other 7 Projects In Norway [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 27 | |||
Norway [Member] | Other 7 Projects In Norway [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,008 | |||
Norway [Member] | Other 7 Projects In Norway [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,014 | |||
Papua New Guinea [Member] | Project In Papua New Guinea - Juha [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 28 | |||
Papua New Guinea [Member] | Project In Papua New Guinea - Juha [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,007 | |||
Papua New Guinea [Member] | Project In Papua New Guinea - Juha [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,007 | |||
Republic of Congo [Member] | Project In Republic of Congo - Mer Tres Profonde Sud [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 56 | |||
Republic of Congo [Member] | Project In Republic of Congo - Mer Tres Profonde Sud [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,000 | |||
Republic of Congo [Member] | Project In Republic of Congo - Mer Tres Profonde Sud [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,007 | |||
Romania [Member] | Project in Romania - Neptun Deep | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 536 | |||
Romania [Member] | Project in Romania - Neptun Deep | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,012 | |||
Romania [Member] | Project in Romania - Neptun Deep | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,016 | |||
Vietnam [Member] | Project in Vietnam - Blue Whale [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 296 | |||
Vietnam [Member] | Project in Vietnam - Blue Whale [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,011 | |||
Vietnam [Member] | Project in Vietnam - Blue Whale [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,015 |
Leased Facilities (Narrative) (
Leased Facilities (Narrative) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Leased Facilities [Abstract] | |
Lease payments under minimum commitments, total | $ 4,290 |
Estimated related rental income from noncancelable subleases | $ 36 |
Leased Facilities (Leased Facil
Leased Facilities (Leased Facilities) (Details) $ in Millions | Dec. 31, 2017USD ($) |
Operating Leased Assets [Line Items] | |
Lease Payments Under Minimum Commitments, 2018 | $ 936 |
Lease Payments Under Minimum Commitments, 2019 | 668 |
Lease Payments Under Minimum Commitments, 2020 | 498 |
Lease Payments Under Minimum Commitments, 2021 | 367 |
Lease Payments Under Minimum Commitments, 2022 | 300 |
Lease Payments Under Minimum Commitments, 2023 and beyond | 1,521 |
Lease Payments Under Minimum Commitments, Total | 4,290 |
Drilling Rigs and Related Equipment [Member] | |
Operating Leased Assets [Line Items] | |
Lease Payments Under Minimum Commitments, 2018 | 169 |
Lease Payments Under Minimum Commitments, 2019 | 131 |
Lease Payments Under Minimum Commitments, 2020 | 101 |
Lease Payments Under Minimum Commitments, 2021 | 70 |
Lease Payments Under Minimum Commitments, 2022 | 41 |
Lease Payments Under Minimum Commitments, 2023 and beyond | 99 |
Lease Payments Under Minimum Commitments, Total | 611 |
Other [Member] | |
Operating Leased Assets [Line Items] | |
Lease Payments Under Minimum Commitments, 2018 | 767 |
Lease Payments Under Minimum Commitments, 2019 | 537 |
Lease Payments Under Minimum Commitments, 2020 | 397 |
Lease Payments Under Minimum Commitments, 2021 | 297 |
Lease Payments Under Minimum Commitments, 2022 | 259 |
Lease Payments Under Minimum Commitments, 2023 and beyond | 1,422 |
Lease Payments Under Minimum Commitments, Total | $ 3,679 |
Leased Facilities (Net Rental C
Leased Facilities (Net Rental Cost) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Leased Assets [Line Items] | |||
Rental cost | $ 2,618 | $ 3,091 | $ 3,929 |
Drilling Rigs and Related Equipment [Member] | |||
Operating Leased Assets [Line Items] | |||
Rental cost | 792 | 1,274 | 1,853 |
Other [Member] | |||
Operating Leased Assets [Line Items] | |||
Rental cost | $ 1,826 | $ 1,817 | $ 2,076 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Earnings per common share | ||||
Net income attributable to ExxonMobil | $ 19,710 | $ 7,840 | $ 16,150 | |
Weighted average number of common shares outstanding | 4,256 | 4,177 | 4,196 | |
Earnings per common share (dollars) | [1] | $ 4.63 | $ 1.88 | $ 3.85 |
Dividends paid per common share (dollars) | $ 3.06 | $ 2.98 | $ 2.88 | |
[1] | The earnings per common share and earnings per common share - assuming dilution are the same in each period shown. |
Financial Instruments And Der73
Financial Instruments And Derivatives (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Financial Instruments And Derivatives [Line Items] | |||
Estimated fair value of total long-term debt, excluding capitalized lease obligations | $ 23,700 | $ 28,000 | |
Recorded book values of total long-term debt, excluding capitalized lease obligations | 23,100 | 27,700 | |
Derivative liability at fair value, net | 38 | 22 | |
Gain (loss) before-tax earnings impact of derivatives | (99) | $ (81) | $ 39 |
Level 1 [Member] | |||
Financial Instruments And Derivatives [Line Items] | |||
Estimated fair value of total long-term debt, excluding capitalized lease obligations | 23,529 | ||
Level 2 [Member] | |||
Financial Instruments And Derivatives [Line Items] | |||
Estimated fair value of total long-term debt, excluding capitalized lease obligations | 170 | ||
Level 3 [Member] | |||
Financial Instruments And Derivatives [Line Items] | |||
Estimated fair value of total long-term debt, excluding capitalized lease obligations | $ 6 |
Long-Term Debt (Narrative) (Det
Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Long-term Debt [Line Items] | ||
Long Term Debt In US Dollars | $ 23,736 | |
U.S. dollar equivalent at year-end exchange rates of amounts payable in foreign currencies | 670 | |
Portion of long-term debt included in current liability | 4,766 | $ 2,960 |
Long-term debt maturing - 2019 | 4,045 | |
Long-term debt maturing - 2020 | 1,617 | |
Long-term debt maturing - 2021 | 2,549 | |
Long-term debt maturing - 2022 | 1,835 | |
Long Term Financing [Member] | ||
Long-term Debt [Line Items] | ||
Unused credit lines | $ 200 |
Long-Term Debt (Summarized Long
Long-Term Debt (Summarized Long-Term Debt) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
Long-term Debt [Line Items] | |||
Debt issuance costs | $ (55) | $ (69) | |
Long-term debt | 24,406 | 28,932 | |
XTO Energy Inc. [Member] | |||
Long-term Debt [Line Items] | |||
Debt instrument, unamortized premium | 102 | 138 | |
Combined Exxon Mobil And Affiliates [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Other long-term debt | 162 | 103 | |
Combined Exxon Mobil And Affiliates [Member] | Other Foreign Currency Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Other long-term debt | 34 | 57 | |
1.305% Notes Due 2018 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,600 | ||
Debt maturity | Mar. 6, 2018 | ||
1.439% Notes Due 2018 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,000 | ||
Debt maturity | Mar. 1, 2018 | ||
Floating-Rate Notes Due 2018 (Issued 2016) [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 750 | ||
Debt maturity | Feb. 28, 2018 | ||
Floating-Rate Notes Due 2018 (Issued 2015) [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 500 | ||
Debt maturity | Mar. 1, 2018 | ||
1.819% Notes Due 2019 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,750 | $ 1,750 | |
Interest rate | 1.819% | ||
Debt maturity | Mar. 15, 2019 | Mar. 15, 2019 | |
1.708% Notes Due 2019 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,250 | $ 1,250 | |
Interest rate | 1.708% | ||
Debt maturity | Mar. 1, 2019 | Mar. 1, 2019 | |
Floating-Rate Notes Due 2019 (Issued 2014) [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 500 | $ 500 | |
Debt maturity | Mar. 15, 2019 | Mar. 15, 2019 | |
Average effective interest rate | [1] | 1.345% | |
Floating-Rate Notes Due 2019 (Issued 2016) [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 250 | $ 250 | |
Debt maturity | Mar. 1, 2019 | Mar. 1, 2019 | |
Average effective interest rate | [1] | 1.953% | |
1.912% Notes Due 2020 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,500 | $ 1,500 | |
Interest rate | 1.912% | ||
Debt maturity | Mar. 6, 2020 | Mar. 6, 2020 | |
2.222% Notes Due 2021 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 2,500 | $ 2,500 | |
Interest rate | 2.222% | ||
Debt maturity | Mar. 1, 2021 | Mar. 1, 2021 | |
2.397% Notes Due 2022 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,150 | $ 1,150 | |
Interest rate | 2.397% | ||
Debt maturity | Mar. 6, 2022 | Mar. 6, 2022 | |
Floating-Rate Notes Due 2022 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 500 | $ 500 | |
Debt maturity | Mar. 6, 2022 | Mar. 6, 2022 | |
Average effective interest rate | [1] | 1.557% | |
2.726% Notes Due 2023 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,250 | $ 1,250 | |
Interest rate | 2.726% | ||
Debt maturity | Mar. 1, 2023 | Mar. 1, 2023 | |
3.176% Notes Due 2024 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,000 | $ 1,000 | |
Interest rate | 3.176% | ||
Debt maturity | Mar. 15, 2024 | Mar. 15, 2024 | |
2.709% Notes Due 2025 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,750 | $ 1,750 | |
Interest rate | 2.709% | ||
Debt maturity | Mar. 6, 2025 | Mar. 6, 2025 | |
3.043% Notes Due 2026 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 2,500 | $ 2,500 | |
Interest rate | 3.043% | ||
Debt maturity | Mar. 1, 2026 | Mar. 1, 2026 | |
3.567% Notes Due 2045 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,000 | $ 1,000 | |
Interest rate | 3.567% | ||
Debt maturity | Mar. 6, 2045 | Mar. 6, 2045 | |
4.114% Notes Due 2046 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 2,500 | $ 2,500 | |
Interest rate | 4.114% | ||
Debt maturity | Mar. 1, 2046 | Mar. 1, 2046 | |
5.500% Senior Notes Due 2018 [Member] | XTO Energy Inc. [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 371 | ||
Debt maturity | Jun. 15, 2018 | ||
6.500% Senior Notes Due 2018 [Member] | XTO Energy Inc. [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 453 | ||
Debt maturity | Dec. 15, 2018 | ||
6.100% Senior Notes Due 2036 [Member] | XTO Energy Inc. [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 195 | $ 197 | |
Interest rate | 6.10% | ||
Debt maturity | Apr. 1, 2036 | Apr. 1, 2036 | |
6.750% Senior Notes Due 2037 [Member] | XTO Energy Inc. [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 302 | $ 304 | |
Interest rate | 6.75% | ||
Debt maturity | Aug. 1, 2037 | Aug. 1, 2037 | |
6.375% Senior Notes Due 2038 [Member] | XTO Energy Inc. [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 232 | $ 233 | |
Interest rate | 6.375% | ||
Debt maturity | Jun. 15, 2038 | Jun. 15, 2038 | |
8.625% Debentures Due 2021 [Member] | Mobil Corporation [Member] | |||
Long-term Debt [Line Items] | |||
Other long-term debt | $ 250 | $ 249 | |
Interest rate | 8.625% | ||
Debt maturity | Aug. 15, 2021 | Aug. 15, 2021 | |
Industrial Revenue Bonds Due 2019-2051 [Member] | Combined Exxon Mobil And Affiliates [Member] | |||
Long-term Debt [Line Items] | |||
Other long-term debt | $ 2,559 | $ 2,559 | |
Debt instrument, maturity date range, start | Nov. 1, 2019 | Nov. 1, 2019 | |
Debt instrument, maturity date range, end | Dec. 1, 2051 | Dec. 1, 2051 | |
Average effective interest rate | [1] | 0.764% | |
Capital Lease Obligations [Member] | Combined Exxon Mobil And Affiliates [Member] | |||
Long-term Debt [Line Items] | |||
Average effective interest rate | [1] | 8.504% | |
Long-term debt | $ 1,327 | $ 1,225 | |
[1] | Average effective interest rate for debt and average imputed interst rate for capital leases at December 31, 2017. |
Incentive Program (Narrative) (
Incentive Program (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Minimum ownership of affiliates needed for awards | 50.00% | ||
Number of shares issuable under 2003 incentive program, maximum | 220,000,000 | ||
Remaining shares available for award under 2003 incentive program | 89,000,000 | ||
Options and stock appreciation rights grant, minimum percentage of market value, date of grant | 100.00% | ||
Share-based compensation arrangement by share-based payment award expiration period | 10 years | ||
Restricted Stock [Member] | |||
Long-term incentive awards | 8,916,000 | 9,583,000 | 9,681,000 |
Unrecognized compensation cost | $ 2,049 | ||
Unrecognized compensation cost, weighted-average period of recognition, years | 4 years 6 months | ||
Compensation cost charged against income | $ 856 | $ 880 | $ 855 |
Income tax benefit recognized in income | 78 | 80 | 78 |
Fair value of shares/awards vested | 826 | 851 | 808 |
Cash payments, vested restricted stock units | $ 64 | $ 67 | $ 64 |
Percent of the shares in each award vesting after three years | 50.00% | ||
Percent of the shares in each award vesting after seven years | 50.00% | ||
Percent of shares in each award vesting after five years | 50.00% | ||
Percent of shares in each award vesting in later of ten years or retirement | 50.00% | ||
Restricted Stock [Member] | Minimum [Member] | |||
Vesting Period | 3 years | ||
Restricted Stock [Member] | Minimum [Member] | Executive Officer [Member] | |||
Vesting Period | 5 years | ||
Restricted Stock [Member] | Maximum [Member] | |||
Vesting Period | 7 years | ||
Restricted Stock [Member] | Maximum [Member] | Executive Officer [Member] | |||
Vesting Period | 10 years |
Incentive Program (Summary Of R
Incentive Program (Summary Of Restricted Stock And Units Outstanding) (Details) shares in Thousands | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Incentive Program [Abstract] | |
Issued and outstanding at January 1, Restricted stock, Shares | shares | 43,833 |
2016 award issued in 2017, Shares | shares | 9,582 |
Vested, Shares | shares | (10,136) |
Forfeited, Shares | shares | (2,201) |
Issued and outstanding at December 31, Restricted stock, Shares | shares | 41,078 |
Issued and outstanding at January 1, Weighted Average Grant-Date Fair Value per Share | $ / shares | $ 84.43 |
2016 award issued in 2017, Weighted Average Grant-Date Fair Value per Share | $ / shares | 87.7 |
Vested, Weighted Average Grant-Date Fair Value per Share | $ / shares | 80.71 |
Forfeited, Weighted Average Grant-Date Fair Value per Share | $ / shares | 80.11 |
Issued and outstanding at December 31, Weighted Average Grant-Date Fair Value per Share | $ / shares | $ 86.34 |
Incentive Program (Grant Value
Incentive Program (Grant Value Of Restricted Stock And Units) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Grant price, per share | $ 81.89 | $ 87.7 | $ 81.27 |
Restricted stock and units settled in stock | $ 667 | $ 771 | $ 727 |
Units settled in cash | 63 | 69 | 60 |
Total value | $ 730 | $ 840 | $ 787 |
Litigation And Other Continge79
Litigation And Other Contingencies (Narrative) (Details) - USD ($) | Mar. 09, 2017 | Oct. 09, 2014 | Oct. 24, 2011 | Jun. 27, 2007 | May 01, 2007 |
Mobil Cerro Negro, Ltd. (MCN) [Member] | Expropriation of Assets [Member] | |||||
Loss Contingencies [Line Items] | |||||
Percentage ownership interest in Cerro Negro Project | 41.67% | 41.67% | |||
Interest compounded annually from date of expropriation until date of payment in full | 3.25% | ||||
Final award related to Cerro Negro arbitration | $ 1,600,000,000 | ||||
Earlier Cerro Negro award for breach of contractual obligations | $ 908,000,000 | ||||
Annulled portion of award for Cerro Negro Project | $ 1,400,000,000 | ||||
Retained portion of award for Cerro Negro Project | 260,000,000 | ||||
Portion of award agreed to be paid by Venezuela for Cerro Negro Project | $ 260,000,000 | ||||
Production Sharing Contract (PSC) [Member] | |||||
Loss Contingencies [Line Items] | |||||
Percent interest in Erha block PSC | 56.25% | ||||
Pending Or Threatened Litigation [Member] | |||||
Loss Contingencies [Line Items] | |||||
Amount of award relating to excess lifting of crude oil | $ 1,800,000,000 | ||||
Accrued interest relating to award for excess lifting of crude oil | $ 234,000,000 |
Litigation And Other Continge80
Litigation And Other Contingencies (Schedule Of Guarantees) (Details) $ in Millions | Dec. 31, 2017USD ($) | |
Loss Contingencies [Line Items] | ||
Guarantees | $ 6,073 | |
Equity Company Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 1,289 | [1] |
Other Third-Party Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 4,784 | |
Debt-Related Guarantees [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 368 | |
Debt-Related Guarantees [Member] | Equity Company Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 98 | [1] |
Debt-Related Guarantees [Member] | Other Third-Party Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 270 | |
Other Guarantees [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 5,705 | |
Other Guarantees [Member] | Equity Company Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 1,191 | [1] |
Other Guarantees [Member] | Other Third-Party Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | $ 4,514 | |
[1] | ExxonMobil share |
Pension And Other Postretirem81
Pension And Other Postretirement Benefits (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Health care cost trend rate | 4.50% | ||
Year that rate reaches ultimate trend rate | 2,019 | ||
Effect of one-percentage-point increase on service and interest costs | $ 72 | ||
Effect of one-percentage-point increase on postretirement benefit obligation | 696 | ||
Effect of one-percentage-point decrease on service and interest costs | 53 | ||
Effect of one-percentage-point decrease on postretirement benefit obligation | 536 | ||
Costs for defined contribution plans | $ 384 | $ 399 | $ 405 |
U.S. [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target asset allocation | 30.00% | ||
U.S. [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target asset allocation | 70.00% | ||
U.S. [Member] | Venture Capital Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target asset allocation | 5.00% | ||
Pension Benefits - Non-U.S. [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target asset allocation | 30.00% | ||
Pension Benefits - Non-U.S. [Member] | Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target asset allocation | 70.00% | ||
Pension Benefits - Non-U.S. [Member] | Venture Capital Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Target asset allocation | 3.00% |
Pension And Other Postretirem82
Pension And Other Postretirement Benefits (Benefit Obligations And Plan Assets Associated With Principal Benefit Plans) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Defined Benefit Plan Disclosure [Line Items] | ||||
Medicare subsidy receipts | $ 16 | $ 22 | ||
U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 3.80% | 4.25% | ||
Long-term rate of compensation increase | 5.75% | 5.75% | ||
Benefit obligation at January 1 | $ 19,960 | $ 19,583 | ||
Service cost | 784 | 810 | $ 864 | |
Interest cost | 798 | 793 | 785 | |
Defined benefit plan, actuarial net (gains) losses | 733 | 250 | ||
Amendments, divestments and other | (1) | |||
Benefit obligation at December 31 | 19,310 | 19,960 | 19,583 | |
Accumulated benefit obligation at December 31 | $ 15,557 | $ 16,245 | ||
Pension Benefits - Non-U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 2.80% | 3.00% | ||
Long-term rate of compensation increase | 4.30% | 4.00% | ||
Benefit obligation at January 1 | $ 25,196 | $ 25,117 | ||
Service cost | 596 | 585 | 689 | |
Interest cost | 772 | 844 | 850 | |
Defined benefit plan, actuarial net (gains) losses | 250 | 1,409 | ||
Foreign exchange rate changes | 2,484 | (1,520) | ||
Amendments, divestments and other | (44) | (11) | ||
Benefit obligation at December 31 | 27,963 | 25,196 | 25,117 | |
Accumulated benefit obligation at December 31 | $ 25,557 | $ 22,867 | ||
Other Postretirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 3.80% | 4.25% | ||
Long-term rate of compensation increase | 5.75% | 5.75% | ||
Benefit obligation at January 1 | $ 7,800 | $ 8,282 | ||
Service cost | 129 | 153 | 170 | |
Interest cost | 317 | 344 | 346 | |
Defined benefit plan, actuarial net (gains) losses | 231 | (560) | ||
Foreign exchange rate changes | 40 | 16 | ||
Amendments, divestments and other | 126 | 102 | ||
Benefit obligation at December 31 | 8,100 | 7,800 | $ 8,282 | |
Benefit Payments For Funded And Unfunded Plans [Member] | U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefits paid | [1],[2] | (2,964) | (1,476) | |
Benefit Payments For Funded And Unfunded Plans [Member] | Pension Benefits - Non-U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefits paid | [1],[2] | (1,291) | (1,228) | |
Benefit Payments For Funded And Unfunded Plans [Member] | Other Postretirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Benefits paid | [1],[2] | $ (543) | $ (537) | |
[1] | Benefit payments for funded and unfunded plans. | |||
[2] | For 2017 and 2016, other postretirement benefits paid are net of $16 million and $22 million of Medicare subsidy receipts, respectively. |
Pension And Other Postretirem83
Pension And Other Postretirement Benefits (Change In Plan Assets Of Pension And Other Postretirement Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | ||
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value at January 1 | $ 12,793 | $ 10,985 | |
Actual return on plan assets | 1,831 | 949 | |
Company contribution | 619 | 2,068 | |
Fair value at December 31 | 12,782 | 12,793 | |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value at January 1 | 19,043 | 18,417 | |
Actual return on plan assets | 1,442 | 2,443 | |
Foreign exchange rate changes | 1,776 | (1,452) | |
Company contribution | 440 | 492 | |
Other | (338) | ||
Fair value at December 31 | 21,461 | 19,043 | |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value at January 1 | 411 | 414 | |
Actual return on plan assets | 40 | 20 | |
Company contribution | 34 | 36 | |
Fair value at December 31 | 427 | 411 | |
Benefit Payments For Funded Plans [Member] | U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Benefits paid | [1] | (2,461) | (1,209) |
Benefit Payments For Funded Plans [Member] | Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Benefits paid | [1] | (902) | (857) |
Benefit Payments For Funded Plans [Member] | Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Benefits paid | [1] | $ (58) | $ (59) |
[1] | Benefit payments for funded plans. |
Pension And Other Postretirem84
Pension And Other Postretirement Benefits (Summary Of Assets In Excess Of/(Less Than) Benefit Obligation) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan funded status of plan | $ (3,957) | $ (4,306) | |
Unfunded plans | (2,571) | (2,861) | |
Total | [1] | (6,528) | (7,167) |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan funded status of plan | 413 | 212 | |
Unfunded plans | (6,915) | (6,365) | |
Total | [1] | $ (6,502) | $ (6,153) |
[1] | Fair value of assets less benefit obligation shown on the preceding page. |
Pension And Other Postretirem85
Pension And Other Postretirement Benefits (Assets Recorded In Balance Sheet And Other Comprehensive Income) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Postretirement benefits reserves | $ (21,132) | $ (20,680) | |
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at December 31 | [1] | (6,528) | (7,167) |
Current liabilities | (276) | (409) | |
Postretirement benefits reserves | (6,252) | (6,758) | |
Total recorded | (6,528) | (7,167) | |
Net actuarial loss/(gain) | 3,982 | 5,354 | |
Prior service cost | 11 | 15 | |
Total recorded in accumulated other comprehensive income | 3,993 | 5,369 | |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at December 31 | [1] | (6,502) | (6,153) |
Other assets | 1,403 | 1,035 | |
Current liabilities | (338) | (294) | |
Postretirement benefits reserves | (7,567) | (6,894) | |
Total recorded | (6,502) | (6,153) | |
Net actuarial loss/(gain) | 5,586 | 5,629 | |
Prior service cost | (143) | (123) | |
Total recorded in accumulated other comprehensive income | 5,443 | 5,506 | |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at December 31 | [1] | (7,673) | (7,389) |
Current liabilities | (360) | (361) | |
Postretirement benefits reserves | (7,313) | (7,028) | |
Total recorded | (7,673) | (7,389) | |
Net actuarial loss/(gain) | 1,595 | 1,468 | |
Prior service cost | (397) | (430) | |
Total recorded in accumulated other comprehensive income | $ 1,198 | $ 1,038 | |
[1] | Fair value of assets less benefit obligation shown on the preceding page. |
Pension And Other Postretirem86
Pension And Other Postretirement Benefits (Long-Term Rates Of Pension And Other Postretirement Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Total recorded in other comprehensive income | $ (1,279) | $ (2,287) | $ (5,535) |
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.25% | 4.25% | 4.00% |
Long-term rate of return on funded assets | 6.50% | 6.50% | 7.00% |
Long-term rate of compensation increase | 5.75% | 5.75% | 5.75% |
Service cost | $ 784 | $ 810 | $ 864 |
Interest cost | 798 | 793 | 785 |
Expected return on plan assets | (775) | (726) | (830) |
Amortization of actuarial loss/(gain) | 438 | 492 | 544 |
Amortization of prior service cost | 5 | 6 | 6 |
Net pension enhancement and curtailment/settlement cost | 609 | 319 | 499 |
Net periodic benefit cost | 1,859 | 1,694 | 1,868 |
Net actuarial loss/(gain) | (324) | 27 | 592 |
Amortization of actuarial (loss)/gain | (1,047) | (811) | (1,043) |
Amortization of prior service (cost)/credit | (5) | (6) | (6) |
Total recorded in other comprehensive income | (1,376) | (790) | (457) |
Total recorded in net periodic benefit cost and other comprehensive income, before tax | $ 483 | $ 904 | $ 1,411 |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 3.00% | 3.60% | 3.10% |
Long-term rate of return on funded assets | 5.20% | 5.25% | 5.90% |
Long-term rate of compensation increase | 4.00% | 4.80% | 5.30% |
Service cost | $ 596 | $ 585 | $ 689 |
Interest cost | 772 | 844 | 850 |
Expected return on plan assets | (1,000) | (927) | (1,094) |
Amortization of actuarial loss/(gain) | 476 | 536 | 730 |
Amortization of prior service cost | 47 | 54 | 87 |
Net pension enhancement and curtailment/settlement cost | 19 | 2 | 22 |
Net periodic benefit cost | 910 | 1,094 | 1,284 |
Net actuarial loss/(gain) | (191) | (156) | (1,375) |
Amortization of actuarial (loss)/gain | (495) | (538) | (752) |
Prior service cost/(credit) | 111 | 32 | (401) |
Amortization of prior service (cost)/credit | (47) | (54) | (87) |
Foreign exchange rate changes | 559 | (108) | (1,126) |
Total recorded in other comprehensive income | (63) | (824) | (3,741) |
Total recorded in net periodic benefit cost and other comprehensive income, before tax | $ 847 | $ 270 | $ (2,457) |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.25% | 4.25% | 4.00% |
Long-term rate of return on funded assets | 6.50% | 6.50% | 7.00% |
Long-term rate of compensation increase | 5.75% | 5.75% | 5.75% |
Service cost | $ 129 | $ 153 | $ 170 |
Interest cost | 317 | 344 | 346 |
Expected return on plan assets | (24) | (25) | (28) |
Amortization of actuarial loss/(gain) | 96 | 153 | 206 |
Amortization of prior service cost | (33) | (30) | (24) |
Net periodic benefit cost | 485 | 595 | 670 |
Net actuarial loss/(gain) | 215 | (555) | (589) |
Amortization of actuarial (loss)/gain | (96) | (153) | (206) |
Prior service cost/(credit) | (535) | ||
Amortization of prior service (cost)/credit | 33 | 30 | 24 |
Foreign exchange rate changes | 8 | 5 | (31) |
Total recorded in other comprehensive income | 160 | (673) | (1,337) |
Total recorded in net periodic benefit cost and other comprehensive income, before tax | $ 645 | $ (78) | $ (667) |
Pension And Other Postretirem87
Pension And Other Postretirement Benefits (Summary Of The Change In Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Total (charge)/credit to other comprehensive income, before tax | $ 1,279 | $ 2,287 | $ 5,535 |
(Charge)/credit to income tax (see Note 4) | (290) | (692) | (1,810) |
(Charge)/credit to investment in equity companies | (43) | (16) | 81 |
(Charge)/credit to other comprehensive income including noncontrolling interests, after tax | 946 | 1,579 | 3,806 |
Charge/(credit) to equity of noncontrolling interests | 12 | 24 | (202) |
Exxon Mobil Corporation Share After Noncontrolling Interest [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total change in accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 958 | 1,603 | 3,604 |
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total (charge)/credit to other comprehensive income, before tax | 1,376 | 790 | 457 |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total (charge)/credit to other comprehensive income, before tax | 63 | 824 | 3,741 |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total (charge)/credit to other comprehensive income, before tax | $ (160) | $ 673 | $ 1,337 |
Pension And Other Postretirem88
Pension And Other Postretirement Benefits (Fair Value Of Benefit Plan Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Insurance contracts at contract value | $ 9 | $ 11 | ||
Fair value of plan assets | 12,782 | 12,793 | $ 10,985 | |
U.S. [Member] | U.S. Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 1,665 | 2,347 | |
Fair value of plan assets | 1,665 | 2,347 | ||
U.S. [Member] | Non-U.S. Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 1,570 | 2,126 | |
Fair value of plan assets | 1,570 | 2,126 | ||
U.S. [Member] | Private Equity [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 532 | 553 | |
Fair value of plan assets | 532 | 553 | ||
U.S. [Member] | Corporate Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 1 | 1 | |
Fair value of plan assets | 5,261 | 4,979 | ||
U.S. [Member] | Government Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 2 | 1 | |
Fair value of plan assets | 3,606 | 2,636 | ||
U.S. [Member] | Asset-Backed Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 1 | 1 | |
Fair value of plan assets | 1 | 4 | ||
U.S. [Member] | Cash [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 138 | 137 | |
Fair value of plan assets | 138 | 137 | ||
U.S. [Member] | Total At Fair Value [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 3,909 | 5,166 | |
Fair value of plan assets | 12,773 | 12,782 | ||
U.S. [Member] | Fair Value Inputs Level 2 [Member] | Corporate Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | [2] | 5,260 | 4,978 | |
U.S. [Member] | Fair Value Inputs Level 2 [Member] | Government Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | [2] | 3,604 | 2,635 | |
U.S. [Member] | Fair Value Inputs Level 2 [Member] | Asset-Backed Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | [2] | 3 | ||
U.S. [Member] | Fair Value Inputs Level 2 [Member] | Total At Fair Value [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | 8,864 | 7,616 | ||
Pension Benefits - Non-U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Insurance contracts at contract value | 23 | 23 | ||
Fair value of plan assets | 21,461 | 19,043 | $ 18,417 | |
Pension Benefits - Non-U.S. [Member] | U.S. Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 2,967 | 3,343 | |
Fair value of plan assets | 2,967 | 3,343 | ||
Pension Benefits - Non-U.S. [Member] | Non-U.S. Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 2,903 | 3,632 | |
Fair value of plan assets | 3,014 | 3,776 | ||
Pension Benefits - Non-U.S. [Member] | Private Equity [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 522 | 539 | |
Fair value of plan assets | 522 | 539 | ||
Pension Benefits - Non-U.S. [Member] | Corporate Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 5,215 | 4,075 | |
Fair value of plan assets | 5,346 | 4,198 | ||
Pension Benefits - Non-U.S. [Member] | Government Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 9,056 | 6,753 | |
Fair value of plan assets | 9,325 | 6,952 | ||
Pension Benefits - Non-U.S. [Member] | Asset-Backed Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 72 | 72 | |
Fair value of plan assets | 106 | 107 | ||
Pension Benefits - Non-U.S. [Member] | Cash [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 102 | 73 | |
Fair value of plan assets | 158 | 105 | ||
Pension Benefits - Non-U.S. [Member] | Total At Fair Value [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 20,837 | 18,487 | |
Fair value of plan assets | 21,438 | 19,020 | ||
Pension Benefits - Non-U.S. [Member] | Fair Value Inputs Level 1 [Member] | Non-U.S. Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | [3] | 111 | 142 | |
Pension Benefits - Non-U.S. [Member] | Fair Value Inputs Level 1 [Member] | Government Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | [4] | 237 | 167 | |
Pension Benefits - Non-U.S. [Member] | Fair Value Inputs Level 1 [Member] | Cash [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | 54 | 23 | ||
Pension Benefits - Non-U.S. [Member] | Fair Value Inputs Level 1 [Member] | Total At Fair Value [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | 402 | 332 | ||
Pension Benefits - Non-U.S. [Member] | Fair Value Inputs Level 2 [Member] | Non-U.S. Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | [5] | 2 | ||
Pension Benefits - Non-U.S. [Member] | Fair Value Inputs Level 2 [Member] | Corporate Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | [2] | 131 | 123 | |
Pension Benefits - Non-U.S. [Member] | Fair Value Inputs Level 2 [Member] | Government Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | [2] | 32 | 32 | |
Pension Benefits - Non-U.S. [Member] | Fair Value Inputs Level 2 [Member] | Asset-Backed Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | [2] | 34 | 35 | |
Pension Benefits - Non-U.S. [Member] | Fair Value Inputs Level 2 [Member] | Cash [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | [6] | 2 | 9 | |
Pension Benefits - Non-U.S. [Member] | Fair Value Inputs Level 2 [Member] | Total At Fair Value [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, fair value hierarchy | $ 199 | $ 201 | ||
[1] | Per ASU 2015-07, certain instruments that are measured at fair value using the Net Asset Value (NAV) per share practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets. | |||
[2] | For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions. | |||
[3] | For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges. | |||
[4] | For government debt securities that are traded on active exchanges, fair value is based on observable quoted prices. | |||
[5] | For U.S. and non-U.S. equity securities held in the form of fund units that are redeemable at the measurement date, the published unit value is treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active exchanges, which are Level 1 inputs. | |||
[6] | For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input. |
Pension And Other Postretirem89
Pension And Other Postretirement Benefits (Fair Value Of Benefit Plan Assets - Other Postretirement) (Details) - Other Postretirement Benefit Plans Defined Benefit [Member] - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, net asset value | [1] | $ 130 | $ 169 |
Fair value of plan assets | 427 | 411 | |
U.S. Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, net asset value | [1] | 73 | 98 |
Fair value of plan assets | 73 | 98 | |
Non-U.S. Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, net asset value | [1] | 55 | 71 |
Fair value of plan assets | 55 | 71 | |
Corporate Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 99 | 82 | |
Government Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 197 | 159 | |
Asset Backed Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1 | 1 | |
Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, net asset value | [1] | 2 | |
Fair value of plan assets | 2 | ||
Fair Value Inputs Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, fair value hierarchy | 297 | 242 | |
Fair Value Inputs Level 2 [Member] | Corporate Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, fair value hierarchy | [2] | 99 | 82 |
Fair Value Inputs Level 2 [Member] | Government Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, fair value hierarchy | [2] | 197 | 159 |
Fair Value Inputs Level 2 [Member] | Asset Backed Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, fair value hierarchy | [2] | $ 1 | $ 1 |
[1] | Per ASU 2015-07, certain instruments that are measured at fair value using the Net Asset Value (NAV) per share practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total value of plan assets. | ||
[2] | For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions. |
Pension And Other Postretirem90
Pension And Other Postretirement Benefits (Pension Plans With Accumulated Benefit Obligation In Excess Of Plan Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Funded Pension Plans [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | $ 16,739 | $ 17,099 |
Accumulated benefit obligation | 14,022 | 14,390 |
Fair value of plan assets | 12,782 | 12,793 |
Funded Pension Plans [Member] | Pension Benefits - Non-U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | 3,384 | 837 |
Accumulated benefit obligation | 3,264 | 612 |
Fair value of plan assets | 3,219 | 564 |
Unfunded Pension Plans [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | 2,571 | 2,861 |
Accumulated benefit obligation | 1,535 | 1,855 |
Unfunded Pension Plans [Member] | Pension Benefits - Non-U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | 6,915 | 6,365 |
Accumulated benefit obligation | $ 6,208 | $ 5,687 |
Pension And Other Postretirem91
Pension And Other Postretirement Benefits (Estimated Amortization) (Details) $ in Millions | Dec. 31, 2017USD ($) | |
U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss/(gain) | $ 539 | [1] |
Prior service cost | 5 | [2] |
Pension Benefits - Non-U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss/(gain) | 412 | [1] |
Prior service cost | 47 | [2] |
Other Postretirement Benefits [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss/(gain) | 112 | [1] |
Prior service cost | $ (40) | [2] |
[1] | The Corporation amortizes the net balance of actuarial losses/(gains) as a component of net periodic benefit cost over the average remaining service period of active plan participants. | |
[2] | The Corporation amortizes prior service cost on a straight-line basis as permitted under authoritative guidance for defined benefit pension and other postretirement benefit plans. |
Pension And Other Postretirem92
Pension And Other Postretirement Benefits (Expected Contribution Pension Benefits And Other Postretirement Benefits) (Details) $ in Millions | Dec. 31, 2017USD ($) |
U.S. [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Contributions expected in 2018 | $ 490 |
Benefits payments expected in 2018 | 1,364 |
Benefits payments expected in 2019 | 1,279 |
Benefits payments expected in 2020 | 1,267 |
Benefits payments expected in 2021 | 1,268 |
Benefits payments expected in 2022 | 1,285 |
Benefits payments expected in 2023-2027 | 6,355 |
Pension Benefits - Non-U.S. [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Contributions expected in 2018 | 720 |
Benefits payments expected in 2018 | 1,183 |
Benefits payments expected in 2019 | 1,163 |
Benefits payments expected in 2020 | 1,197 |
Benefits payments expected in 2021 | 1,203 |
Benefits payments expected in 2022 | 1,220 |
Benefits payments expected in 2023-2027 | 6,162 |
Gross Other Post Retirement Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Benefits payments expected in 2018 | 459 |
Benefits payments expected in 2019 | 465 |
Benefits payments expected in 2020 | 469 |
Benefits payments expected in 2021 | 470 |
Benefits payments expected in 2022 | 468 |
Benefits payments expected in 2023-2027 | 2,329 |
Other Postretirement Benefits Medicare Subsidy Receipt [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Benefits payments expected in 2018 | 25 |
Benefits payments expected in 2019 | 26 |
Benefits payments expected in 2020 | 28 |
Benefits payments expected in 2021 | 29 |
Benefits payments expected in 2022 | 30 |
Benefit payments expected in 2023-2027 | $ 174 |
Disclosures About Segments An93
Disclosures About Segments And Related Information (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Disclosures About Segments And Related Information [Abstract] | |||
Non-debt-related interest expense | $ 136 | $ 63 | $ 100 |
Disclosures About Segments An94
Disclosures About Segments And Related Information (Schedule Of Segments And Related Information) (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Segment Reporting Information [Line Items] | ||||||
Earnings after income tax | $ 19,710 | $ 7,840 | $ 16,150 | |||
Earnings of equity companies included above | 5,380 | 4,806 | 7,644 | |||
Sales and other operating revenue | [1] | 237,162 | 200,628 | [2] | 239,854 | [2] |
Depreciation and depletion expense | 19,893 | 22,308 | 18,048 | |||
Interest revenue | 36 | 30 | 46 | |||
Interest expense | 601 | 453 | 311 | |||
Income taxes expense (benefit) | (1,174) | (406) | 5,415 | |||
Additions to property, plant and equipment | 24,901 | 16,100 | 27,475 | |||
Investments in equity companies | 24,354 | 20,810 | 20,337 | |||
Total assets | 348,691 | 330,314 | 336,758 | |||
Sales-based taxes | [2] | 17,980 | 19,634 | |||
Effect of U.S. tax reform - noncash | ||||||
Segment Reporting Information [Line Items] | ||||||
Effect of U.S. tax reform | (5,942) | |||||
U.S. [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Income taxes expense (benefit) | (8,561) | (3,040) | (1,140) | |||
Non-U.S. [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Income taxes expense (benefit) | 7,387 | 2,634 | 6,555 | |||
Upstream [Member] | U.S. [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Earnings after income tax | 6,622 | (4,151) | (1,079) | |||
Earnings of equity companies included above | 216 | 53 | 226 | |||
Sales and other operating revenue | 9,349 | 7,552 | [2] | 8,241 | [2] | |
Intersegment revenue | 5,729 | 3,827 | 4,344 | |||
Depreciation and depletion expense | 6,963 | 9,626 | 5,301 | |||
Interest expense | 87 | 17 | 26 | |||
Income taxes expense (benefit) | (8,552) | (2,600) | (879) | |||
Additions to property, plant and equipment | 9,761 | 3,144 | 6,915 | |||
Investments in equity companies | 4,680 | 4,917 | 5,160 | |||
Total assets | 89,048 | 86,146 | 93,648 | |||
Upstream [Member] | U.S. [Member] | Effect of U.S. tax reform - noncash | ||||||
Segment Reporting Information [Line Items] | ||||||
Effect of U.S. tax reform | (7,602) | |||||
Upstream [Member] | Non-U.S. [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Earnings after income tax | 6,733 | 4,347 | 8,180 | |||
Earnings of equity companies included above | 3,618 | 3,359 | 5,831 | |||
Sales and other operating revenue | 14,508 | 12,278 | [2] | 15,446 | [2] | |
Intersegment revenue | 22,935 | 18,099 | 20,839 | |||
Depreciation and depletion expense | 9,741 | 9,550 | 9,227 | |||
Interest expense | 29 | 29 | 27 | |||
Income taxes expense (benefit) | 5,463 | 1,818 | 4,703 | |||
Additions to property, plant and equipment | 8,617 | 7,878 | 14,561 | |||
Investments in equity companies | 14,494 | 11,364 | 10,980 | |||
Total assets | 155,822 | 153,183 | 155,316 | |||
Upstream [Member] | Non-U.S. [Member] | Effect of U.S. tax reform - noncash | ||||||
Segment Reporting Information [Line Items] | ||||||
Effect of U.S. tax reform | 480 | |||||
Downstream [Member] | U.S. [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Earnings after income tax | 1,948 | 1,094 | 1,901 | |||
Earnings of equity companies included above | 118 | 58 | 170 | |||
Sales and other operating revenue | 61,695 | 52,630 | [2] | 69,706 | [2] | |
Intersegment revenue | 14,857 | 11,796 | 12,440 | |||
Depreciation and depletion expense | 658 | 628 | 664 | |||
Interest expense | 1 | 1 | 8 | |||
Income taxes expense (benefit) | (61) | 396 | 866 | |||
Additions to property, plant and equipment | 769 | 791 | 916 | |||
Investments in equity companies | 276 | 111 | 95 | |||
Total assets | 18,172 | 16,201 | 16,498 | |||
Downstream [Member] | U.S. [Member] | Effect of U.S. tax reform - noncash | ||||||
Segment Reporting Information [Line Items] | ||||||
Effect of U.S. tax reform | (618) | |||||
Downstream [Member] | Non-U.S. [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Earnings after income tax | 3,649 | 3,107 | 4,656 | |||
Earnings of equity companies included above | 490 | 404 | 444 | |||
Sales and other operating revenue | 122,881 | 102,756 | [2] | 119,050 | [2] | |
Intersegment revenue | 22,263 | 18,775 | 22,166 | |||
Depreciation and depletion expense | 883 | 889 | 1,003 | |||
Interest expense | 6 | 8 | 4 | |||
Income taxes expense (benefit) | 934 | 951 | 1,325 | |||
Additions to property, plant and equipment | 1,551 | 1,525 | 1,477 | |||
Investments in equity companies | 1,462 | 1,255 | 1,179 | |||
Total assets | 34,294 | 29,208 | 29,808 | |||
Chemical [Member] | U.S. [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Earnings after income tax | 2,190 | 1,876 | 2,386 | |||
Earnings of equity companies included above | 90 | 111 | 144 | |||
Sales and other operating revenue | 11,035 | 9,944 | [2] | 10,879 | [2] | |
Intersegment revenue | 7,270 | 6,404 | 7,442 | |||
Depreciation and depletion expense | 299 | 275 | 375 | |||
Income taxes expense (benefit) | 362 | 693 | 646 | |||
Additions to property, plant and equipment | 1,330 | 1,463 | 1,865 | |||
Investments in equity companies | 341 | 158 | 125 | |||
Total assets | 13,363 | 11,600 | 10,174 | |||
Chemical [Member] | U.S. [Member] | Effect of U.S. tax reform - noncash | ||||||
Segment Reporting Information [Line Items] | ||||||
Effect of U.S. tax reform | (335) | |||||
Chemical [Member] | Non-U.S. [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Earnings after income tax | 2,328 | 2,739 | 2,032 | |||
Earnings of equity companies included above | 1,217 | 1,188 | 1,235 | |||
Sales and other operating revenue | 17,659 | 15,447 | [2] | 16,524 | [2] | |
Intersegment revenue | 5,550 | 4,211 | 5,168 | |||
Depreciation and depletion expense | 504 | 477 | 654 | |||
Interest expense | 1 | |||||
Income taxes expense (benefit) | 664 | 609 | 633 | |||
Additions to property, plant and equipment | 2,019 | 482 | 629 | |||
Investments in equity companies | 3,387 | 3,247 | 3,025 | |||
Total assets | 21,133 | 18,453 | 18,236 | |||
Corporate And Financing [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Earnings after income tax | (3,760) | (1,172) | (1,926) | |||
Earnings of equity companies included above | (369) | (367) | (406) | |||
Sales and other operating revenue | 35 | 21 | [2] | 8 | [2] | |
Intersegment revenue | 208 | 236 | 274 | |||
Depreciation and depletion expense | 845 | 863 | 824 | |||
Interest revenue | 36 | 30 | 46 | |||
Interest expense | 478 | 398 | 245 | |||
Income taxes expense (benefit) | 16 | (2,273) | (1,879) | |||
Additions to property, plant and equipment | 854 | 817 | 1,112 | |||
Investments in equity companies | (286) | (242) | (227) | |||
Total assets | 16,859 | $ 15,523 | $ 13,078 | |||
Corporate And Financing [Member] | Effect of U.S. tax reform - noncash | ||||||
Segment Reporting Information [Line Items] | ||||||
Effect of U.S. tax reform | $ 2,133 | |||||
[1] | Effective December 31, 2017, the Corporation revised its accounting policy election related to sales-based taxes. See Note 2: Accounting Changes. | |||||
[2] | Sales and other operating revenue excludes previously reported sales-based taxes of $17,980 million for 2016 and $19,634 million for 2015. See Note 2: Accounting Changes. |
Disclosures About Segments An95
Disclosures About Segments And Related Information (Schedule Of Geographic Sales And Other Operating Revenue) (Details) - USD ($) $ in Millions | 12 Months Ended | |||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||||
Sales and other operating revenue | $ 237,162 | $ 200,628 | [1] | $ 239,854 | [1] | |
Sales-based taxes | [1] | 17,980 | 19,634 | |||
U.S. [Member] | ||||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||||
Sales and other operating revenue | 82,079 | 70,126 | [1] | 88,826 | [1] | |
Non-U.S. [Member] | ||||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||||
Sales and other operating revenue | 155,083 | 130,502 | [1] | 151,028 | [1] | |
Canada [Member] | ||||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||||
Sales and other operating revenue | 20,116 | 17,682 | [1] | 19,076 | [1] | |
United Kingdom [Member] | ||||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||||
Sales and other operating revenue | 16,611 | 15,452 | [1] | 20,605 | [1] | |
Belgium [Member] | ||||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||||
Sales and other operating revenue | 13,633 | 10,834 | [1] | 12,481 | [1] | |
Singapore [Member] | ||||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||||
Sales and other operating revenue | 11,589 | 9,919 | [1] | 10,632 | [1] | |
Italy [Member] | ||||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||||
Sales and other operating revenue | 11,476 | 9,715 | [1] | 11,220 | [1] | |
France [Member] | ||||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||||
Sales and other operating revenue | 11,235 | 9,487 | [1] | 10,631 | [1] | |
Germany [Member] | ||||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||||
Sales and other operating revenue | $ 8,484 | $ 7,899 | [1] | $ 8,447 | [1] | |
[1] | Sales and other operating revenue excludes previously reported sales-based taxes of $17,980 million for 2016 and $19,634 million for 2015. See Note 2: Accounting Changes. |
Disclosures About Segments An96
Disclosures About Segments And Related Information (Schedule Of Long-Lived Assets By Geographic Regions) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | $ 252,630 | $ 244,224 | $ 251,605 |
U.S. [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 105,101 | 101,194 | 107,039 |
Non-U.S. [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 147,529 | 143,030 | 144,566 |
Canada [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 41,138 | 40,144 | 39,775 |
Australia [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 16,908 | 16,510 | 15,894 |
Singapore [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 11,292 | 9,769 | 9,681 |
Kazakhstan [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 10,121 | 10,325 | 9,705 |
Nigeria [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 9,734 | 11,314 | 12,222 |
Papua New Guinea [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 8,463 | 5,719 | 5,985 |
Angola [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 7,689 | 8,413 | 8,777 |
Russia [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | $ 5,702 | $ 4,828 | $ 4,744 |
Income And Other Taxes (Narrati
Income And Other Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income And Other Taxes [Abstract] | ||||
Reconciliation between income tax expense and theoretical U.S. tax rate, statutory rate | 35.00% | 35.00% | 35.00% | |
Potential percentage decrease in unrecognized tax benefits | 10.00% | |||
Potential percentage increase in unrecognized tax benefits | 10.00% | |||
Interest expense on income tax reserves | $ 36 | $ 4 | $ 39 | |
Interest payable on income tax reserves | 168 | 191 | ||
Valuation Allowance [Abstract] | ||||
Valuation allowance change from 2016 to 2017 | 1,056 | |||
Asset valuation allowances | 2,565 | 1,509 | ||
Scenario Forecast [Member] | ||||
Income And Other Taxes [Abstract] | ||||
Reconciliation between income tax expense and theoretical U.S. tax rate, statutory rate | 21.00% | |||
US Tax Reform [Member] | ||||
Income And Other Taxes [Abstract] | ||||
Net deferred income tax expense (credits)/charges for tax rate and law changes | (5,942) | |||
Changes in Non U.S. tax laws and rates | ||||
Income And Other Taxes [Abstract] | ||||
Net deferred income tax expense (credits)/charges for tax rate and law changes | 22 | |||
Total US and Non US | ||||
Income And Other Taxes [Abstract] | ||||
Net deferred income tax expense (credits)/charges for tax rate and law changes | (5,920) | $ 180 | $ 177 | |
Change in net provisions [Member] | ||||
Valuation Allowance [Abstract] | ||||
Valuation allowance change from 2016 to 2017 | 502 | |||
Valuation Allowance Recorded In IOC Acquisition [Member] | ||||
Valuation Allowance [Abstract] | ||||
Valuation allowance change from 2016 to 2017 | 402 | |||
Effects of foreign currency translation [Member] | ||||
Valuation Allowance [Abstract] | ||||
Valuation allowance change from 2016 to 2017 | $ 152 |
Income And Other Taxes (Schedul
Income And Other Taxes (Schedule Of Income And Other Taxes) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income and Other Taxes [Line Items] | |||
Current | $ 7,210 | $ 3,842 | $ 7,126 |
Deferred - net | (8,321) | (4,223) | (1,737) |
U.S. tax on non-U.S. operations | 17 | 41 | 38 |
Total federal and non-U.S. | (1,094) | (340) | 5,427 |
State | (80) | (66) | (12) |
Total income tax expense | (1,174) | (406) | 5,415 |
Other taxes and duties | 30,104 | 29,020 | 30,309 |
Other taxes and duties included in production and manufacturing expenses | 1,854 | 1,860 | 1,985 |
Other taxes and duties included in SG&A expenses | 501 | 495 | 540 |
Total other taxes and duties | 32,459 | 31,375 | 32,834 |
Total | 31,285 | 30,969 | 38,249 |
U.S. [Member] | |||
Income and Other Taxes [Line Items] | |||
Current | 577 | (214) | |
Deferred - net | (9,075) | (2,801) | (1,166) |
U.S. tax on non-U.S. operations | 17 | 41 | 38 |
Total federal and non-U.S. | (8,481) | (2,974) | (1,128) |
State | (80) | (66) | (12) |
Total income tax expense | (8,561) | (3,040) | (1,140) |
Other taxes and duties | 3,330 | 3,209 | 3,206 |
Other taxes and duties included in production and manufacturing expenses | 1,107 | 1,052 | 1,157 |
Other taxes and duties included in SG&A expenses | 147 | 133 | 150 |
Total other taxes and duties | 4,584 | 4,394 | 4,513 |
Total | (3,977) | 1,354 | 3,373 |
Non-U.S. [Member] | |||
Income and Other Taxes [Line Items] | |||
Current | 6,633 | 4,056 | 7,126 |
Deferred - net | 754 | (1,422) | (571) |
Total federal and non-U.S. | 7,387 | 2,634 | 6,555 |
Total income tax expense | 7,387 | 2,634 | 6,555 |
Other taxes and duties | 26,774 | 25,811 | 27,103 |
Other taxes and duties included in production and manufacturing expenses | 747 | 808 | 828 |
Other taxes and duties included in SG&A expenses | 354 | 362 | 390 |
Total other taxes and duties | 27,875 | 26,981 | 28,321 |
Total | $ 35,262 | $ 29,615 | $ 34,876 |
Income And Other Taxes (Reconci
Income And Other Taxes (Reconciliation Between Income Tax Expense And Theoretical U.S. Tax) (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |||
Effective Tax Rate [Line Items] | |||||
United States income before income taxes | $ (754) | $ (5,832) | $ 147 | ||
Non-U.S. income before income taxes | 19,428 | 13,801 | 21,819 | ||
Income before income taxes | 18,674 | 7,969 | 21,966 | ||
Theoretical tax | 6,536 | 2,789 | 7,688 | ||
Effect of equity method of accounting | (1,883) | (1,682) | (2,675) | ||
Non-U.S. taxes in excess of theoretical U.S. tax | 1,848 | (582) | [1] | 1,415 | |
Other | (1,733) | [2] | (931) | [2] | (1,013) |
Total income tax expense | (1,174) | (406) | 5,415 | ||
ExxonMobil share of equity company income taxes | 2,228 | 1,692 | 3,011 | ||
Total income taxes | 1,054 | 1,286 | 8,426 | ||
Net income including noncontrolling interests | 19,848 | 8,375 | 16,551 | ||
Total income before taxes | $ 20,902 | $ 9,661 | $ 24,977 | ||
Effective income tax rate | 5.00% | 13.00% | 34.00% | ||
Adjustment to deferred taxes | $ 227 | ||||
Tax reserve adjustment | (548) | ||||
Exploration tax benefit | $ (708) | (198) | |||
Adjustment to prior year tax position | (176) | ||||
Effect of U.S. tax reform | |||||
Effective Tax Rate [Line Items] | |||||
Effect of U.S. tax reform | (5,942) | ||||
U.S. [Member] | |||||
Effective Tax Rate [Line Items] | |||||
Total income tax expense | (8,561) | (3,040) | $ (1,140) | ||
Non-U.S. [Member] | |||||
Effective Tax Rate [Line Items] | |||||
Total income tax expense | $ 7,387 | $ 2,634 | $ 6,555 | ||
[1] | 2016 includes a $227 million expense from an adjustment to deferred taxes and a $548 million benefit from an adjustment to a tax position in prior years. | ||||
[2] | 2017 includes an exploration tax benefit of $708 million. 2016 includes an exploration tax benefit of $198 million and benefits from an adjustment to a prior year tax position of $176 million. |
Income And Other Taxes (Deferre
Income And Other Taxes (Deferred Income Taxes Assets And Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Income And Other Taxes [Abstract] | ||
Property, plant and equipment | $ 36,559 | $ 46,744 |
Other liabilities | 5,625 | 4,262 |
Total deferred tax liabilities | 42,184 | 51,006 |
Pension and other postretirement benefits | (4,338) | (6,053) |
Asset retirement obligations | (4,237) | (5,454) |
Tax loss carryforwards | (6,767) | (5,472) |
Other assets | (5,832) | (5,615) |
Total deferred tax assets | (21,174) | (22,594) |
Asset valuation allowances | 2,565 | 1,509 |
Net deferred tax liabilities | $ 23,575 | $ 29,921 |
Income And Other Taxes (Defe101
Income And Other Taxes (Deferred Income Tax (Assets) And Liabilities By Balance Sheet Classification) (Details) - USD ($) $ in Millions | Dec. 31, 2017 | Dec. 31, 2016 |
Income And Other Taxes [Abstract] | ||
Other assets, including intangibles, net | $ (3,318) | $ (4,120) |
Deferred income tax liabilities | 26,893 | 34,041 |
Net deferred tax liabilities | $ 23,575 | $ 29,921 |
Income And Other Taxes (Unrecog
Income And Other Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income And Other Taxes [Abstract] | |||
Balance at January 1 | $ 9,468 | $ 9,396 | $ 8,986 |
Additions based on current year's tax positions | 522 | 655 | 903 |
Additions for prior years' tax positions | 523 | 534 | 496 |
Reductions for prior years' tax positions | (865) | (1,019) | (190) |
Reductions due to lapse of the statute of limitations | (113) | (7) | (4) |
Settlements with tax authorities | (782) | (70) | (725) |
Foreign exchange effects/other | 30 | (21) | (70) |
Balance at December 31 | $ 8,783 | $ 9,468 | $ 9,396 |
Income And Other Taxes (Remaini
Income And Other Taxes (Remaining Tax Years Subject To Examination By Major Tax Jurisdiction) (Details) | 12 Months Ended |
Dec. 31, 2017 | |
Abu Dhabi [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,014 |
Abu Dhabi [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Angola [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,016 |
Angola [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Australia [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,008 |
Australia [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Belgium [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,015 |
Belgium [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Canada [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 1,998 |
Canada [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Equatorial Guinea [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,007 |
Equatorial Guinea [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Indonesia [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,007 |
Indonesia [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Iraq [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,012 |
Iraq [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Malaysia [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,009 |
Malaysia [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Nigeria [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,006 |
Nigeria [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Norway [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,007 |
Norway [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Papua New Guinea [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,008 |
Papua New Guinea [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Russia [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,015 |
Russia [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
United Kingdom [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,015 |
United Kingdom [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
United States [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,006 |
United States [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Acquisitions (Narrative) (Detai
Acquisitions (Narrative) (Details) $ / shares in Units, shares in Millions, $ in Millions | Feb. 28, 2017USD ($)shares | Feb. 22, 2017USD ($)Tcfe$ / shares$ / Mcfeshares |
InterOil Corporation [Member] | ||
Business Acquisition [Line Items] | ||
Date of acquisition | Feb. 22, 2017 | |
Total purchase price | $ 2,700 | |
Consideration transferred equity interests issued and issuable | 2,200 | |
Contingent liability fair value | 300 | |
Cash paid | $ 200 | |
Equity interests issued or issuable, number of shares | shares | 28 | |
IOC Acquisition Date Resource Certification Finalized | Sep. 6, 2017 | |
Business Combination Contingent Consideration Liability [Abstract] | ||
Contingent consideration per trilion cubic feet equivalent of resources | $ / shares | $ 7.07 | |
Receivable value range minimum per thousand cubic feet | Tcfe | 6.2 | |
Receivable value range maximum per thousand cubic feet | Tcfe | 11 | |
Business Combination Contingent Consideration Asset [Abstract] | ||
Minimum resource for contingent receivable, tcfe | Tcfe | 3.5 | |
Minimum amount per thousand cubic feet equivalent | $ / Mcfe | 0.24 | |
Maximum amount per thousand cubic feet equivalent | $ / Mcfe | 0.4 | |
Contingent receivable | $ 1,100 | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net [Abstract] | ||
Current assets | 600 | |
Property, plant and equipment | 2,900 | |
Other | 600 | |
Total assets | 4,100 | |
Current liabilities | 500 | |
Long-term liabilities | 900 | |
Total liabilities | 1,400 | |
Net assets acquired | $ 2,700 | |
Bass Family Permian Basin Resources [Member] | ||
Business Acquisition [Line Items] | ||
Date of acquisition | Feb. 28, 2017 | |
Total purchase price | $ 6,200 | |
Consideration transferred equity interests issued and issuable | 5,500 | |
Contingent liability fair value | $ 700 | |
Equity interests issued or issuable, number of shares | shares | 68 | |
Business Combination Contingent Consideration Liability [Abstract] | ||
Contingent consideration liability | $ 1,020 | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net [Abstract] | ||
Property, plant and equipment | 6,300 | |
Total assets | 6,300 | |
Long-term liabilities | 100 | |
Total liabilities | 100 | |
Net assets acquired | $ 6,200 | |
Bass Family Permian Basin Resources [Member] | Maximum [Member] | ||
Business Combination Contingent Consideration Liability [Abstract] | ||
Expected date of payment | 2,032 | |
Bass Family Permian Basin Resources [Member] | Minimum [Member] | ||
Business Combination Contingent Consideration Liability [Abstract] | ||
Expected date of payment | 2,020 |