Document And Entity Information
Document And Entity Information | 9 Months Ended |
Sep. 30, 2018shares | |
Document And Entity Information [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Sep. 30, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | Q3 |
Trading Symbol | XOM |
Entity Registrant Name | EXXON MOBIL CORP |
Entity Central Index Key | 34,088 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Common Stock, Shares Outstanding | 4,233,807,170 |
Condensed Consolidated Statemen
Condensed Consolidated Statement Of Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Revenues and other income | |||||
Sales and other operating revenue | $ 74,187 | $ 59,350 | $ 211,079 | $ 171,850 | |
Income from equity affiliates | 1,960 | 1,472 | 5,599 | 4,707 | |
Other income | 458 | 278 | 1,639 | 1,291 | |
Total revenues and other income | 76,605 | 61,100 | 218,317 | 177,848 | |
Costs and other deductions | |||||
Crude oil and product purchases | 41,776 | 31,432 | 119,391 | 91,985 | |
Production and manufacturing expenses | 9,097 | 7,952 | 26,506 | 23,578 | |
Selling, general and administrative expenses | 2,892 | 2,632 | 8,632 | 7,693 | |
Depreciation and depletion | 4,658 | 4,880 | 13,717 | 14,051 | |
Exploration expenses, including dry holes | 292 | 284 | 911 | 1,087 | |
Non-service pension and postretirement benefit expense | 307 | 475 | 952 | 1,267 | |
Interest expense | 200 | 111 | 551 | 415 | |
Other taxes and duties | 8,303 | 7,751 | 24,825 | 22,115 | |
Total costs and other deductions | 67,525 | 55,517 | 195,485 | 162,191 | |
Income before income taxes | 9,080 | 5,583 | 22,832 | 15,657 | |
Income taxes | 2,634 | 1,498 | 7,617 | 4,218 | |
Net income including noncontrolling interests | 6,446 | 4,085 | 15,215 | 11,439 | |
Net income attributable to noncontrolling interests | 206 | 115 | 375 | 109 | |
Net income attributable to ExxonMobil | $ 6,240 | $ 3,970 | $ 14,840 | $ 11,330 | |
Earnings per common share (dollars) | [1] | $ 1.46 | $ 0.93 | $ 3.47 | $ 2.66 |
Earnings per common share - assuming dilution (dollars) | $ 1.46 | $ 0.93 | $ 3.47 | $ 2.66 | |
[1] | The calculation of earnings per common share and earnings per common share – assuming dilution are the same in each period shown. |
Condensed Consolidated Statem_2
Condensed Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Condensed Consolidated Statement Of Comprehensive Income [Abstract] | ||||
Net income including noncontrolling interests | $ 6,446 | $ 4,085 | $ 15,215 | $ 11,439 |
Other comprehensive income (net of income taxes) | ||||
Foreign exchange translation adjustment | 124 | 2,342 | (2,720) | 5,424 |
Adjustment for foreign exchange translation (gain)/loss included in net income | 186 | 234 | ||
Postretirement benefits reserves adjustment (excluding amortization) | (3) | (145) | (394) | (329) |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | 223 | 311 | 689 | 850 |
Total other comprehensive income | 344 | 2,508 | (2,239) | 6,179 |
Comprehensive income including noncontrolling interests | 6,790 | 6,593 | 12,976 | 17,618 |
Comprehensive income attributable to noncontrolling interests | 311 | 372 | 205 | 700 |
Comprehensive income attributable to ExxonMobil | $ 6,479 | $ 6,221 | $ 12,771 | $ 16,918 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheet - USD ($) $ in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Current assets | ||
Cash and cash equivalents | $ 5,669 | $ 3,177 |
Notes and accounts receivable - net | 27,880 | 25,597 |
Inventories | ||
Crude oil, products and merchandise | 14,617 | 12,871 |
Materials and supplies | 4,144 | 4,121 |
Other current assets | 1,665 | 1,368 |
Total current assets | 53,975 | 47,134 |
Investments, advances and long-term receivables | 40,427 | 39,160 |
Property, plant and equipment - net | 249,153 | 252,630 |
Other assets, including intangibles - net | 11,073 | 9,767 |
Total assets | 354,628 | 348,691 |
Current liabilities | ||
Notes and loans payable | 19,413 | 17,930 |
Accounts payable and accrued liabilities | 41,714 | 36,796 |
Income taxes payable | 4,161 | 3,045 |
Total current liabilities | 65,288 | 57,771 |
Long-term debt | 20,624 | 24,406 |
Postretirement benefits reserves | 21,448 | 21,132 |
Deferred income tax liabilities | 27,084 | 26,893 |
Long-term obligations to equity companies | 4,625 | 4,774 |
Other long-term obligations | 18,728 | 19,215 |
Total liabilities | 157,797 | 154,191 |
Commitments and contingencies (Note 3) | ||
Equity | ||
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 15,254 | 14,656 |
Earnings reinvested | 419,155 | 414,540 |
Accumulated other comprehensive income | (18,370) | (16,262) |
Common stock held in treasury (3,785 million shares at Sep. 30, 2018 and 3,780 million shares at Dec. 31, 2017) | (225,674) | (225,246) |
ExxonMobil share of equity | 190,365 | 187,688 |
Noncontrolling interests | 6,466 | 6,812 |
Total equity | 196,831 | 194,500 |
Total liabilities and equity | $ 354,628 | $ 348,691 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Sep. 30, 2018 | Dec. 31, 2017 |
Condensed 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 | 3,785 | 3,780 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement Of Cash Flows - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | ||
Cash flows from operating activities | |||
Net income including noncontrolling interests | $ 15,215 | $ 11,439 | |
Depreciation and depletion | 13,717 | 14,051 | |
Changes in operational working capital, excluding cash and debt | (25) | (547) | |
All other items - net | (1,500) | (2,288) | |
Net cash provided by operating activities | 27,407 | 22,655 | |
Cash flows from investing activities | |||
Additions to property, plant and equipment | (13,480) | (10,901) | |
Proceeds associated with sales of subsidiaries, property, plant and equipment, and sales and returns of investments | 3,239 | 1,695 | |
Additional investments and advances | (1,113) | (1,950) | |
Other investing activities including collection of advances | 492 | 1,962 | |
Net cash used in investing activities | (10,862) | (9,194) | |
Cash flows from financing activities | |||
Additions to long-term debt | 60 | ||
Additions to short-term debt | 1,735 | ||
Reductions in short-term debt | (4,279) | (4,971) | |
Additions/(reductions) in commercial paper, and debt with three months or less maturity | [1] | 1,626 | 339 |
Cash dividends to ExxonMobil shareholders | (10,296) | (9,712) | |
Cash dividends to noncontrolling interests | (192) | (139) | |
Changes in noncontrolling interests | (374) | (90) | |
Common stock acquired | (430) | (515) | |
Net cash used in financing activities | (13,945) | (13,293) | |
Effects of exchange rate changes on cash | (108) | 441 | |
Increase/(decrease) in cash and cash equivalents | 2,492 | 609 | |
Cash and cash equivalents at beginning of period | 3,177 | 3,657 | |
Cash and cash equivalents at end of period | 5,669 | 4,266 | |
Supplemental Disclosures | |||
Income taxes paid | 6,740 | 4,611 | |
Cash interest paid | $ 839 | $ 965 | |
Noncash Investing And Financing Items | |||
2017 Noncash Transactions | In the first nine months of 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 noncash component associated with the issuance of a combined 96 million shares of Exxon Mobil Corporation common stock in acquisition consideration. | ||
[1] | Includes a net addition of commercial paper with a maturity of over three months of $0.3 billion in 2018 and a net reduction of $0.5 billion in 2017. The gross amount of commercial paper with a maturity of over three months issued was $3.1 billion in 2018 and $2.7 billion in 2017, while the gross amount repaid was $2.8 billion in 2018 and $3.2 billion in 2017. |
Condensed Consolidated Statem_4
Condensed Consolidated Statement Of Cash Flows (Parenthetical) - USD ($) shares in Millions, $ in Billions | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Shares issued for 2017 noncash transactions | 96 | |
Maturity Greater Than Three Months [Member] | ||
Net cash flow from issuance/(repayment) of commercial paper | $ 0.3 | $ (0.5) |
Proceeds from issuance of commercial paper | 3.1 | 2.7 |
Repayments of commercial paper | $ 2.8 | $ 3.2 |
Condensed Consolidated Statem_5
Condensed Consolidated Statement Of Changes In Equity - USD ($) shares in Millions, $ in Millions | Total | Exxon Mobil Share Of Common Stock [Member] | Exxon Mobil Share Of Earnings Reinvested [Member] | Exxon Mobil Share Of Accumulated Other Comprehensive Income [Member] | Exxon Mobil Share Of Common Stock Held In Treasury [Member] | Exxon Mobil Share Of Equity [Member] | Noncontrolling Interests [Member] |
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 | $ 635 | 635 | 635 | ||||
Other | (141) | (87) | (87) | (54) | |||
Net income for the period | 11,439 | 11,330 | 11,330 | 109 | |||
Dividends - common shares (company) | (9,712) | (9,712) | |||||
Dividends - common shares (NCI) | (139) | ||||||
Dividends - common shares (total) | (9,851) | ||||||
Other comprehensive income | 6,179 | 5,588 | 5,588 | 591 | |||
Acquisitions, at cost (company) | (596) | (596) | |||||
Acquisitions, at cost (NCI) | (90) | ||||||
Acquisitions, at cost (total) | (686) | ||||||
Issued for acquisitions | $ 7,789 | 2,078 | $ 5,711 | 7,789 | |||
Acquisitions (in shares) | (7) | (7) | |||||
Issued for acquisitions (in shares) | 96 | 96 | |||||
Dispositions | $ 4 | $ 4 | 4 | ||||
Balance at Sep. 30, 2017 | $ 189,198 | 14,783 | 409,449 | (16,651) | (225,305) | 182,276 | 6,922 |
Balance (in shares) - issued at Sep. 30, 2017 | 8,019 | ||||||
Balance (in shares) - in treasury at Sep. 30, 2017 | (3,782) | ||||||
Balance (in shares) - outstanding at Sep. 30, 2017 | 4,237 | ||||||
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 | ||||||
Amortization of stock-based awards | $ 605 | 605 | 605 | ||||
Other | (15) | (7) | (7) | (8) | |||
Net income for the period | 15,215 | 14,840 | 14,840 | 375 | |||
Dividends - common shares (company) | (10,296) | (10,296) | |||||
Dividends - common shares (NCI) | (192) | ||||||
Dividends - common shares (total) | (10,488) | ||||||
Cumulative effect of accounting change | 47 | 71 | (39) | 32 | 15 | ||
Other comprehensive income | (2,239) | (2,069) | (2,069) | (170) | |||
Acquisitions, at cost (company) | $ (430) | (430) | |||||
Acquisitions, at cost (NCI) | (366) | ||||||
Acquisitions, at cost (total) | $ (796) | ||||||
Acquisitions (in shares) | (5) | (5) | |||||
Dispositions | $ 2 | $ 2 | 2 | ||||
Balance at Sep. 30, 2018 | $ 196,831 | $ 15,254 | $ 419,155 | $ (18,370) | $ (225,674) | $ 190,365 | $ 6,466 |
Balance (in shares) - issued at Sep. 30, 2018 | 8,019 | ||||||
Balance (in shares) - in treasury at Sep. 30, 2018 | (3,785) | ||||||
Balance (in shares) - outstanding at Sep. 30, 2018 | 4,234 |
Basis Of Financial Statement Pr
Basis Of Financial Statement Preparation | 9 Months Ended |
Sep. 30, 2018 | |
Basis Of Financial Statement Preparation [Abstract] | |
Basis Of Financial Statement Preparation | 1. Basis of Financial Statement Preparation These unaudited condensed consolidated financial statements should be read in the context of the consolidated financial statements and notes thereto filed with the Securities and Exchange Commission in the Corporation's 2017 Annual Report on Form 10-K. In the opinion of the Corporation, the information furnished herein reflects all known accruals and adjustments necessary for a fai r statement of the results for the periods reported herein. All such adjustments are of a normal recurring nature. Prior data has been reclassified in certain cases to conform to the current presentation basis. The Cor poration's exploration and production activities are accounted for under the "successful efforts" method. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 9 Months Ended |
Sep. 30, 2018 | |
New Accounting Pronouncements And Changes In Accounting Principles [Abstract] | |
Accounting Changes [Text Block] | 2 . Accounting Changes Effective January 1, 2018, ExxonMobil adopted the Financial Accounting Standards Board’s standard, Revenue from Contracts with Customers (Topic 606) , as amended. The standard establishes a single revenue recognition model for all contracts with customers, eliminates industry and transaction specific requirements, and expands disclosure requirements. The standard was adopted using the Modified Retrospective method, under which prior year results are not restated, but supplemental information is provided for any mat erial impacts of the standard on 2018 results. The adoption of the standard did not have a material impact on any of the lines reported in the Corporation’s financial statements . The cumulative effect of adoption of the standard was de minimis . The Corporation did not elect any practical expedients that require disclosure. See Note 9. Effective January 1, 2018, ExxonMobil adopted the Financial Accounting Standards Board’s Update, Financial Instruments – Overall (Subtopic 825-10): Recognition and Me asurement of Financial Assets and Financial Liabilities . The standard requires investments in equity securities other than consolidated subsidiaries and equity method investments to be measured at fair value with changes in the fair value recognized throug h net income. The Corporation elected a modified approach for equity securities that do not have a readily determinable fair value. This modified approach measures investments at cost minus impairment, if any, plus or minus changes resulting from observabl e price changes in orderly transactions for the identical or a similar investment of the same issuer. The cumulative effect adjustment related to the adoption o f this standard increased equity $47 million. The portion of unrealized gains and losses recogni zed during the reporting period o n equi ty securities still held at September 30 , 2018 and the carrying value of equity securities without readily determinable fair values at September 30, 2018 were not significant to the Corporation. The standard also expanded discl osures related to financial instruments . S ee Note 7. Effective January 1, 2018, ExxonMobil adopted the Financial Accounting Standards Board’s Update, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . The update requires separate presentation of the service cost component from other components of net benefit costs. The other components are reported in a new line on the Corporation’s Statement of Income, “Non-service pension and postretirement benefit expense.” The Corporation elected to use the practical expedient which uses the amounts disclosed in the pension and other postretirement benefit plan note for the prior comparative periods as the estimation basis for applying the retrospective presentatio n requirements, as it is impracticable to determine the amounts capitalized in those periods. Beginning in 2018, the other components of net benefit costs are included in the Corporate and financing segment. The estimated after-tax impact from the change i n segmentation is an increase in Corporate and financing expenses of about $ 100 million for the third quarter and $ 300 million for the first nine months of 2018. The increase in the Corporate and financing expenses is offset by lower expenses across the op erating segments. Additionally, only the service cost component of net benefit costs is eligible for capitalization in situations where it is otherwise appropriate to capitalize employee costs in connection with the construction or production of an asset. The impact of the retrospective prese ntation change on ExxonMobil's Consolidated Statement of I ncome for the three months and nine months ended September 30, 2017 , is shown below. Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 As Reported Change As Adjusted As Reported Change As Adjusted (millions of dollars) Production and manufacturing expenses 8,334 (382) 7,952 24,586 (1,008) 23,578 Selling, general and administrative expenses 2,725 (93) 2,632 7,952 (259) 7,693 Non-service pension and postretirement benefit expense - 475 475 - 1,267 1,267 Effective January 1, 2019, ExxonMobil will adopt the Financial Accounting Standards Board’s standard, Leases (Topic 842) , as amended. The standard requires all leases with an initial term greater than one year to be recorded on the balance sheet as a right of use asset and a lease liability. We expect to use a transition method that applies the new lease standard at January 1, 2019 , and recognizes a ny cumulative-effect adjustment s to the opening balance of 2019 retained earnings. The Corporation acq uired lease accounting software to facilitate implementation, and is currently configuring and testing the software. Based on leases outstanding at the end of 2017, the Corporation estimates the operating lease right of use asset and lease liability would have been in the range of $ 4 billion to $ 5 billion at that time. The effect on the Corporation’s balance sheet as a result of implementing the standard on January 1, 2019, could differ considerably depending on operating leases commenced in 2018 as well as interest rates and other factors such as the expiry or ren ewal of leases during the year. |
Litigation And Other Contingenc
Litigation And Other Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Litigation And Other Contingencies [Abstract] | |
Litigation And Other Contingencies | 3 . Litigation and Other Contingencies Litig ation 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 reasonably 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 b ut 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 significant, the Corporation discloses the nature o f 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 ExxonMobil will have a material adverse effect up on 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 September 30, 2018 , 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 potential exposure. These guarantees are not reasonably likely to have a material effect on the C orporation’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. As of September 30, 2018 Equity Other Company Third Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 461 63 524 Other 1,008 4,046 5,054 Total 1,469 4,109 5,578 (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. The operations and earnings of the Corporation and its affiliates throughout the world have been, and may in the future be, affected from time to time in varying degree by political developments and laws and regulations, such as fo rced divestiture of assets; restrictions on production, imports and exports; price controls; tax increases and retroactive tax claims; expropriation of property; cancellation of contract rights and environmental regulations. Both the likelihood of such occ urrences and their overall effect upon the Corporation vary greatly from country to country and are not predictable. In accordance with a Venezuelan nationalization decree issued in February 2007, a subsidiary of the Venezuelan National Oil Company (PdVSA) assumed the operatorship of the Cerro Negro Heavy Oil 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. ExxonMobil refu sed 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. ExxonMobil collected awards of $ 908 million in an arbitration against PdVSA under the rules of the International Chamber of Commerce in respect of an indemnity related to the Cerro Negro Project and $ 260 million in an arbitration for compensation due for the La Ceiba Project and for export curtailments at the Cerro Negro Project under rule s of International Centre for Settlement of Investment Disputes (ICSID). An ICSID arbitration award relating to the Cerro Negro Project’s expropriation ($1.4 billion) was annulled based on a determination that a prior Tribunal failed to adequately explain why the cap on damages in the indemnity owed by PdVSA did not affect or limit the amount owed for the expropriation of the Cerro Negro Project. ExxonMobil filed a new claim seeking to restore the original award of damages for the Cerro Negro Project with I CSID on September 26, 2018. The net impact of th is matter 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 opera tions or financial condition . An affiliate of ExxonMobil is one of the Contractors under a Production Sharing Contract (PSC) with the Nigerian National Petroleum Corporation (NNPC) covering the Erha block located in the offshore waters of Nigeria. ExxonMobil's affiliate is the oper ator 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 Contract ors initiated arbitration in Abuja, Nigeria, under the Nigerian Arbitration and Conciliation Act. On October 24, 2011, a three-member arbitral Tribunal 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 federal 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 aw ard. 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 Nige rian federal high court in order to preserve their ability to seek enforcement of the PSC in the courts if necessary. F ollowing dismissal by this court, the Contractors appealed to the Nigerian Court of Appeal in June 2016. In October 2014 , the Contractors filed suit in the United States District Court for the Southern District of New York to enforce , if necessary, the arb itration award against NNPC assets residing within that jurisdiction. NNPC has moved to dismiss the lawsuit. 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 does not expect the proceedings to have a material effect upon the Corporation's operations or financial condition. |
Other Comprehensive Income Info
Other Comprehensive Income Information | 9 Months Ended |
Sep. 30, 2018 | |
Other Comprehensive Income Information [Abstract] | |
Other Comprehensive Income Information | 4 . Other Comprehensive Income Information Cumulative Post- Foreign retirement Exchange Benefits ExxonMobil Share of Accumulated Other Translation Reserves Comprehensive Income Adjustment Adjustment Total (millions of dollars) Balance as of December 31, 2016 (14,501) (7,738) (22,239) Current period change excluding amounts reclassified from accumulated other comprehensive income 4,925 (300) 4,625 Amounts reclassified from accumulated other comprehensive income 140 823 963 Total change in accumulated other comprehensive income 5,065 523 5,588 Balance as of September 30, 2017 (9,436) (7,215) (16,651) Balance as of December 31, 2017 (9,482) (6,780) (16,262) Current period change excluding amounts reclassified from accumulated other comprehensive income (2,551) (406) (2,957) Amounts reclassified from accumulated other comprehensive income 186 663 849 Total change in accumulated other comprehensive income (2,365) 257 (2,108) Balance as of September 30, 2018 (11,847) (6,523) (18,370) Three Months Ended Nine Months Ended Amounts Reclassified Out of Accumulated Other September 30, September 30, Comprehensive Income - Before-tax Income/(Expense) 2018 2017 2018 2017 (millions of dollars) Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) - - (186) (234) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (Statement of Income Line: Non-service pension and postretirement benefit expense) (287) (450) (897) (1,215) Three Months Ended Nine Months Ended Income Tax (Expense)/Credit For September 30, September 30, Components of Other Comprehensive Income 2018 2017 2018 2017 (millions of dollars) Foreign exchange translation adjustment 8 17 13 (9) Postretirement benefits reserves adjustment (excluding amortization) - 74 66 154 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (64) (139) (208) (365) Total (56) (48) (129) (220) |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 5 . Earnings Per Share Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Earnings per common share Net income attributable to ExxonMobil (millions of dollars) 6,240 3,970 14,840 11,330 Weighted average number of common shares outstanding (millions of shares) 4,271 4,271 4,271 4,252 Earnings per common share (dollars) (1) 1.46 0.93 3.47 2.66 Dividends paid per common share (dollars) 0.82 0.77 2.41 2.29 (1) The calculation of earnings per common share and earnings per common share – assuming dilution are the same in each period shown. |
Pension And Other Postretiremen
Pension And Other Postretirement Benefits | 9 Months Ended |
Sep. 30, 2018 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension And Other Postretirement Benefits | 6 . Pension and Other Postretirement Benefits Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 (millions of dollars) Components of net benefit cost Pension Benefits - U.S. Service cost 203 200 616 583 Interest cost 179 199 540 598 Expected return on plan assets (182) (194) (545) (582) Amortization of actuarial loss/(gain) and prior service cost 93 110 276 332 Net pension enhancement and curtailment/settlement cost 63 187 189 450 Net benefit cost 356 502 1,076 1,381 Pension Benefits - Non-U.S. Service cost 149 155 461 445 Interest cost 185 198 571 574 Expected return on plan assets (233) (260) (722) (743) Amortization of actuarial loss/(gain) and prior service cost 113 135 344 388 Net pension enhancement and curtailment/settlement cost - - 33 (5) Net benefit cost 214 228 687 659 Other Postretirement Benefits Service cost 40 36 111 92 Interest cost 75 88 226 227 Expected return on plan assets (5) (6) (17) (17) Amortization of actuarial loss/(gain) and prior service cost 19 18 57 45 Net benefit cost 129 136 377 347 |
Financial Instruments
Financial Instruments | 9 Months Ended |
Sep. 30, 2018 | |
Financial Instruments [Abstract] | |
Financial Instruments | 7 . Financial Instruments and Derivatives Financial Instruments. Effective January 1, 2018, ExxonMobil adopted the Financial Accounting Standards Board’s Update, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The estimated fair value of financial instruments at September 30 , 2018 , and the related hierarchy level for the fair value measurement is as follows: At September 30, 2018 (millions of dollars) Carrying Fair Value Value Level 1 Level 2 Level 3 Total Assets Derivative assets (included in the Balance Sheet line: Other current assets) 104 104 - - 104 Advances to/receivables from equity companies (included in the Balance Sheet line: Investments, advances and long-term receivables) 8,969 - 1,763 7,072 8,835 Other long-term financial assets (included in the Balance Sheet lines: Investments, advances and long-term receivables and Other assets, including intangibles – net) 1,748 764 - 1,041 1,805 Liabilities Derivative liabilities (included in the Balance Sheet line: Accounts payable and accrued liabilities) 248 248 - - 248 Long-term debt (excluding capitalized lease obligations) 19,275 19,020 110 4 19,134 Long-term obligations to equity companies 4,625 - - 4,728 4,728 Other long-term financial liabilities (included in the Balance Sheet line: Other long-term obligations) 1,114 - - 1,121 1,121 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 commod ity 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, incl uding the use of derivative clearing exchanges and the quality of and financial limits placed on derivative counterparties. The Corporation believes that there are no material market or credit risks to the Corporation’s financial position, results of opera tions 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. Derivative instruments are currently not subject to a master netting agreeme nt, and the Corporation has not offset collateral against the carrying value. The carrying value of derivative instruments, none of which are designated as hedging instruments, is as follows: Sept. 30, Dec. 31, 2018 2017 (millions of dollars) Exchange Traded Futures and Swaps Assets 104 25 Liabilities (248) (63) Collateral receivable/(payable) 272 94 Total 128 56 At September 30, 2018, the net notional long/(short) position of derivative instruments was ( 16 ) million barrels for crude oil and was ( 11 ) million barrels for products. Realized and unre alized gains/(losses) on derivative instruments that were recognized in the Consolidated Statement of Income are included in the following lines on a before-tax basis: Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 (millions of dollars) Sales and other operating revenue (68) (11) (72) 16 Crude oil and product purchases (107) (80) (380) (37) Total (175) (91) (452) (21) |
Disclosures About Segments And
Disclosures About Segments And Related Information | 9 Months Ended |
Sep. 30, 2018 | |
Disclosures About Segments And Related Information [Abstract] | |
Disclosures About Segments And Related Information | 8 . Disclosures about Segments and Related Information Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Earnings After Income Tax (millions of dollars) Upstream United States 606 (238) 1,474 (439) Non-U.S. 3,623 1,805 9,292 5,442 Downstream United States 961 391 1,975 1,030 Non-U.S. 681 1,141 1,331 3,003 Chemical United States 404 403 1,360 1,413 Non-U.S. 309 689 1,254 1,835 Corporate and financing (1) (344) (221) (1,846) (954) Corporate total 6,240 3,970 14,840 11,330 Sales and Other Operating Revenue Upstream United States 2,728 2,282 7,637 6,955 Non-U.S. 4,129 3,633 11,344 10,586 Downstream United States 19,963 15,423 56,616 44,533 Non-U.S. 39,077 30,955 110,855 88,866 Chemical United States 3,152 2,589 9,160 8,118 Non-U.S. 5,125 4,455 15,429 12,751 Corporate and financing 13 13 38 41 Corporate total 74,187 59,350 211,079 171,850 Intersegment Revenue Upstream United States 2,203 1,365 6,336 3,937 Non-U.S. 8,536 5,734 22,788 16,356 Downstream United States 5,834 3,134 16,527 10,621 Non-U.S. 8,275 5,866 22,975 16,048 Chemical United States 2,408 1,675 6,952 5,290 Non-U.S. 1,841 1,482 5,657 3,776 Corporate and financing 54 51 153 154 ( 1) See Note 2 for additional details regarding the change in segmentation of Non-service pension and postretirement benefit expense. Geographic Three Months Ended Nine Months Ended September 30, September 30, Sales and Other Operating Revenue 2018 2017 2018 2017 (millions of dollars) United States 25,843 20,294 73,413 59,606 Non-U.S. 48,344 39,056 137,666 112,244 Total 74,187 59,350 211,079 171,850 Significant Non-U.S. revenue sources include: (1) Canada 6,214 5,260 17,752 14,492 United Kingdom 4,797 4,057 14,240 12,309 Belgium 3,996 3,247 12,063 9,833 France 3,588 2,984 10,405 8,290 Singapore 3,502 2,888 10,387 8,264 Italy 3,316 2,913 9,684 8,317 Germany 2,518 2,210 7,184 6,283 (1) Revenue is determined by primary country of operations . Excludes certain sales and other operating revenues in Non -U.S. operations where attribution to a specific country is not practicable. |
Additional Information On Reven
Additional Information On Revenue Recognition | 9 Months Ended |
Sep. 30, 2018 | |
Revenue Recognition [Abstract] | |
Revenue Recognition [Text Block] | 9. Addi tional Information on Revenue Recognition Accounting Policy for 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 cases (e.g., natural gas), products may be sold under long-term agreements, with periodic price adjustments to reflect market conditions . Revenue is recognized at the amount the Corporation expects to receive when the customer has taken control, which is typically when title transfers and the customer has ass umed the risks and rewards of ownership. The prices of certain sales are based on price indexes that are sometimes not a vailable until the next period. In such cases, estimated realizations are accrued when the sale is recognized, and are finalized when th e price is available. Such adjustments to revenue from performance obligations satisfied in previous periods are not significant. Payment for revenue transactions is typically due within 30 days. Future volume delivery obligations that are unsatisfied at t he end of the period are expected to be fulfilled through o rdinary production or purchases. T hese performance obligations are based on market prices at the time of the transaction and are fully constrained due to market price volatility. “Sales and other operating revenue” and “Notes and accounts receivable” primarily arise from contracts with customers. Long-term receivables are primarily from non-customers. Contract a ssets are mainly from marketing assistance programs and are not significant. Contract li abilities are mainly customer prepayments and accruals of expected volume discounts and are not significant. |
Summary of Accounting Policies
Summary of Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2018 | |
Summary of Accounting Policies [Abstract] | |
Revenue Recognition, Policy [Text Block] | Accounting Policy for 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 cases (e.g., natural gas), products may be sold under long-term agreements, with periodic price adjustments to reflect market conditions . Revenue is recognized at the amount the Corporation expects to receive when the customer has taken control, which is typically when title transfers and the customer has ass umed the risks and rewards of ownership. The prices of certain sales are based on price indexes that are sometimes not a vailable until the next period. In such cases, estimated realizations are accrued when the sale is recognized, and are finalized when th e price is available. Such adjustments to revenue from performance obligations satisfied in previous periods are not significant. Payment for revenue transactions is typically due within 30 days. Future volume delivery obligations that are unsatisfied at t he end of the period are expected to be fulfilled through o rdinary production or purchases. T hese performance obligations are based on market prices at the time of the transaction and are fully constrained due to market price volatility. “Sales and other operating revenue” and “Notes and accounts receivable” primarily arise from contracts with customers. Long-term receivables are primarily from non-customers. Contract a ssets are mainly from marketing assistance programs and are not significant. Contract li abilities are mainly customer prepayments and accruals of expected volume discounts and are not significant. |
Derivatives, Policy [Text Block] | 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 commod ity 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, incl uding the use of derivative clearing exchanges and the quality of and financial limits placed on derivative counterparties. The Corporation believes that there are no material market or credit risks to the Corporation’s financial position, results of opera tions 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. Derivative instruments are currently not subject to a master netting agreeme nt, and the Corporation has not offset collateral against the carrying value. |
Accounting Changes (Tables)
Accounting Changes (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
New Accounting Pronouncements And Changes In Accounting Principles [Abstract] | |
Accounting Changes | Three Months Ended Nine Months Ended September 30, 2017 September 30, 2017 As Reported Change As Adjusted As Reported Change As Adjusted (millions of dollars) Production and manufacturing expenses 8,334 (382) 7,952 24,586 (1,008) 23,578 Selling, general and administrative expenses 2,725 (93) 2,632 7,952 (259) 7,693 Non-service pension and postretirement benefit expense - 475 475 - 1,267 1,267 |
Litigation And Other Continge_2
Litigation And Other Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Litigation And Other Contingencies [Abstract] | |
Schedule Of Guarantees | As of September 30, 2018 Equity Other Company Third Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 461 63 524 Other 1,008 4,046 5,054 Total 1,469 4,109 5,578 (1) ExxonMobil share |
Other Comprehensive Income In_2
Other Comprehensive Income Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Other Comprehensive Income Information [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income Information | Cumulative Post- Foreign retirement Exchange Benefits ExxonMobil Share of Accumulated Other Translation Reserves Comprehensive Income Adjustment Adjustment Total (millions of dollars) Balance as of December 31, 2016 (14,501) (7,738) (22,239) Current period change excluding amounts reclassified from accumulated other comprehensive income 4,925 (300) 4,625 Amounts reclassified from accumulated other comprehensive income 140 823 963 Total change in accumulated other comprehensive income 5,065 523 5,588 Balance as of September 30, 2017 (9,436) (7,215) (16,651) Balance as of December 31, 2017 (9,482) (6,780) (16,262) Current period change excluding amounts reclassified from accumulated other comprehensive income (2,551) (406) (2,957) Amounts reclassified from accumulated other comprehensive income 186 663 849 Total change in accumulated other comprehensive income (2,365) 257 (2,108) Balance as of September 30, 2018 (11,847) (6,523) (18,370) |
Reclassification Out Of Accumulated Other Comprehensive Income | Three Months Ended Nine Months Ended Amounts Reclassified Out of Accumulated Other September 30, September 30, Comprehensive Income - Before-tax Income/(Expense) 2018 2017 2018 2017 (millions of dollars) Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) - - (186) (234) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (Statement of Income Line: Non-service pension and postretirement benefit expense) (287) (450) (897) (1,215) |
Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income | Three Months Ended Nine Months Ended Income Tax (Expense)/Credit For September 30, September 30, Components of Other Comprehensive Income 2018 2017 2018 2017 (millions of dollars) Foreign exchange translation adjustment 8 17 13 (9) Postretirement benefits reserves adjustment (excluding amortization) - 74 66 154 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (64) (139) (208) (365) Total (56) (48) (129) (220) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Computation | Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Earnings per common share Net income attributable to ExxonMobil (millions of dollars) 6,240 3,970 14,840 11,330 Weighted average number of common shares outstanding (millions of shares) 4,271 4,271 4,271 4,252 Earnings per common share (dollars) (1) 1.46 0.93 3.47 2.66 Dividends paid per common share (dollars) 0.82 0.77 2.41 2.29 (1) The calculation of earnings per common share and earnings per common share – assuming dilution are the same in each period shown. |
Pension And Other Postretirem_2
Pension And Other Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension And Other Postretirement Benefits | Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 (millions of dollars) Components of net benefit cost Pension Benefits - U.S. Service cost 203 200 616 583 Interest cost 179 199 540 598 Expected return on plan assets (182) (194) (545) (582) Amortization of actuarial loss/(gain) and prior service cost 93 110 276 332 Net pension enhancement and curtailment/settlement cost 63 187 189 450 Net benefit cost 356 502 1,076 1,381 Pension Benefits - Non-U.S. Service cost 149 155 461 445 Interest cost 185 198 571 574 Expected return on plan assets (233) (260) (722) (743) Amortization of actuarial loss/(gain) and prior service cost 113 135 344 388 Net pension enhancement and curtailment/settlement cost - - 33 (5) Net benefit cost 214 228 687 659 Other Postretirement Benefits Service cost 40 36 111 92 Interest cost 75 88 226 227 Expected return on plan assets (5) (6) (17) (17) Amortization of actuarial loss/(gain) and prior service cost 19 18 57 45 Net benefit cost 129 136 377 347 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Financial Instruments [Abstract] | |
Financial Instruments | At September 30, 2018 (millions of dollars) Carrying Fair Value Value Level 1 Level 2 Level 3 Total Assets Derivative assets (included in the Balance Sheet line: Other current assets) 104 104 - - 104 Advances to/receivables from equity companies (included in the Balance Sheet line: Investments, advances and long-term receivables) 8,969 - 1,763 7,072 8,835 Other long-term financial assets (included in the Balance Sheet lines: Investments, advances and long-term receivables and Other assets, including intangibles – net) 1,748 764 - 1,041 1,805 Liabilities Derivative liabilities (included in the Balance Sheet line: Accounts payable and accrued liabilities) 248 248 - - 248 Long-term debt (excluding capitalized lease obligations) 19,275 19,020 110 4 19,134 Long-term obligations to equity companies 4,625 - - 4,728 4,728 Other long-term financial liabilities (included in the Balance Sheet line: Other long-term obligations) 1,114 - - 1,121 1,121 |
Derivative Instruments - Exchange Traded Futures and Swaps | Sept. 30, Dec. 31, 2018 2017 (millions of dollars) Exchange Traded Futures and Swaps Assets 104 25 Liabilities (248) (63) Collateral receivable/(payable) 272 94 Total 128 56 |
Derivative Instruments - Before-Tax Realized and Unrealized Gains / (Losses) | Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 (millions of dollars) Sales and other operating revenue (68) (11) (72) 16 Crude oil and product purchases (107) (80) (380) (37) Total (175) (91) (452) (21) |
Disclosures About Segments An_2
Disclosures About Segments And Related Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosures About Segments And Related Information [Abstract] | |
Disclosures About Segments And Related Information | Three Months Ended Nine Months Ended September 30, September 30, 2018 2017 2018 2017 Earnings After Income Tax (millions of dollars) Upstream United States 606 (238) 1,474 (439) Non-U.S. 3,623 1,805 9,292 5,442 Downstream United States 961 391 1,975 1,030 Non-U.S. 681 1,141 1,331 3,003 Chemical United States 404 403 1,360 1,413 Non-U.S. 309 689 1,254 1,835 Corporate and financing (1) (344) (221) (1,846) (954) Corporate total 6,240 3,970 14,840 11,330 Sales and Other Operating Revenue Upstream United States 2,728 2,282 7,637 6,955 Non-U.S. 4,129 3,633 11,344 10,586 Downstream United States 19,963 15,423 56,616 44,533 Non-U.S. 39,077 30,955 110,855 88,866 Chemical United States 3,152 2,589 9,160 8,118 Non-U.S. 5,125 4,455 15,429 12,751 Corporate and financing 13 13 38 41 Corporate total 74,187 59,350 211,079 171,850 Intersegment Revenue Upstream United States 2,203 1,365 6,336 3,937 Non-U.S. 8,536 5,734 22,788 16,356 Downstream United States 5,834 3,134 16,527 10,621 Non-U.S. 8,275 5,866 22,975 16,048 Chemical United States 2,408 1,675 6,952 5,290 Non-U.S. 1,841 1,482 5,657 3,776 Corporate and financing 54 51 153 154 1) See Note 2 for additional details regarding the change in segmentation of Non-service pension and postretirement benefit expense. |
Geographic Sales And Other Operating Revenue | Geographic Three Months Ended Nine Months Ended September 30, September 30, Sales and Other Operating Revenue 2018 2017 2018 2017 (millions of dollars) United States 25,843 20,294 73,413 59,606 Non-U.S. 48,344 39,056 137,666 112,244 Total 74,187 59,350 211,079 171,850 Significant Non-U.S. revenue sources include: (1) Canada 6,214 5,260 17,752 14,492 United Kingdom 4,797 4,057 14,240 12,309 Belgium 3,996 3,247 12,063 9,833 France 3,588 2,984 10,405 8,290 Singapore 3,502 2,888 10,387 8,264 Italy 3,316 2,913 9,684 8,317 Germany 2,518 2,210 7,184 6,283 (1) Revenue is determined by primary country of operations . Excludes certain sales and other operating revenues in Non -U.S. operations where attribution to a specific country is not practicable. |
Accounting Changes (Details)
Accounting Changes (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Error Corrections and Prior Period Adjustments [Line Items] | ||||
Production and manufacturing expenses | $ 9,097 | $ 7,952 | $ 26,506 | $ 23,578 |
Selling, general and administrative expenses | 2,892 | 2,632 | 8,632 | 7,693 |
Non-service pension and postretirement benefit expense | 307 | 475 | 952 | 1,267 |
After-tax impact of change in non-service cost allocation on Corporate and financing segment | $ 100 | 300 | ||
Cumulative effect of Financial Instruments accounting change | $ 47 | |||
Previously Reported [Member] | ||||
Error Corrections and Prior Period Adjustments [Line Items] | ||||
Production and manufacturing expenses | 8,334 | 24,586 | ||
Selling, general and administrative expenses | 2,725 | 7,952 | ||
Restatement Adjustment [Member] | ||||
Error Corrections and Prior Period Adjustments [Line Items] | ||||
Production and manufacturing expenses | (382) | (1,008) | ||
Selling, general and administrative expenses | (93) | (259) | ||
Non-service pension and postretirement benefit expense | $ 475 | $ 1,267 |
Accounting Changes (Details 2)
Accounting Changes (Details 2) $ in Billions | Dec. 31, 2017USD ($) |
Minimum [Member] | |
Operating Lease Right Of Use Asset | $ 4 |
Operating Lease Liability | 4 |
Maximum [Member] | |
Operating Lease Right Of Use Asset | 5 |
Operating Lease Liability | $ 5 |
Litigation And Other Continge_3
Litigation And Other Contingencies (Narrative) (Details) - USD ($) $ in Millions | Mar. 09, 2017 | Oct. 09, 2014 | Oct. 24, 2011 | Jun. 27, 2007 |
Production Sharing Contract (PSC) [Member] | ||||
Litigation And Other Contingencies [Line Items] | ||||
Percent interest in Erha block PSC | 56.25% | |||
Pending Or Threatened Litigation [Member] | ||||
Litigation And Other Contingencies [Line Items] | ||||
Amount of award relating to excess lifting of crude oil | $ 1,800 | |||
Accrued interest relating to award for excess lifting of crude oil | $ 234 | |||
Expropriation Of Assets [Member] | Mobil Cerro Negro, Ltd. (MCN) [Member] | ||||
Litigation And Other Contingencies [Line Items] | ||||
Percentage ownership interest in Cerro Negro Project | 41.67% | |||
Cerro Negro award for breach of contractual obligations | $ 908 | |||
Annulled portion of award for Cerro Negro Project | $ 1,400 | |||
Award collected from Venezuela for Cerro Negro and La Ceiba Projects | $ 260 |
Litigation And Other Continge_4
Litigation And Other Contingencies (Schedule Of Guarantees) (Details) $ in Millions | Sep. 30, 2018USD ($) | |
Litigation And Other Contingencies [Line Items] | ||
Guarantees | $ 5,578 | |
Equity Company Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 1,469 | [1] |
Other Third Party Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 4,109 | |
Debt Related Guarantees [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 524 | |
Debt Related Guarantees [Member] | Equity Company Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 461 | [1] |
Debt Related Guarantees [Member] | Other Third Party Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 63 | |
Other Guarantees [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 5,054 | |
Other Guarantees [Member] | Equity Company Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 1,008 | [1] |
Other Guarantees [Member] | Other Third Party Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | $ 4,046 | |
[1] | ExxonMobil share |
Other Comprehensive Income In_3
Other Comprehensive Income Information (Schedule Of Accumulated Other Comprehensive Income Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
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 | $ 124 | $ 2,342 | $ (2,720) | $ 5,424 |
Amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 186 | 234 | ||
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 | (3) | (145) | (394) | (329) |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 223 | 311 | 689 | 850 |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||||
Beginning Balance, Total | (16,262) | |||
Ending Balance, Total | (18,370) | (18,370) | ||
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 | (9,482) | (14,501) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | (2,551) | 4,925 | ||
Amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 186 | 140 | ||
Total change in accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | (2,365) | 5,065 | ||
Ending Balance, Cumulative Foreign Exchange Translation Adjustment | (11,847) | (9,436) | (11,847) | (9,436) |
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease [Abstract] | ||||
Beginning Balance, Postretirement Benefits Reserves Adjustment | (6,780) | (7,738) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | (406) | (300) | ||
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 663 | 823 | ||
Total change in accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 257 | 523 | ||
Ending Balance, Postretirement Benefits Reserves Adjustment | (6,523) | (7,215) | (6,523) | (7,215) |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||||
Beginning Balance, Total | (16,262) | (22,239) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Total | (2,957) | 4,625 | ||
Amounts reclassified from accumulated other comprehensive income, Total | 849 | 963 | ||
Total change in accumulated other comprehensive income, Total | (2,108) | 5,588 | ||
Ending Balance, Total | $ (18,370) | $ (16,651) | $ (18,370) | $ (16,651) |
Other Comprehensive Income In_4
Other Comprehensive Income Information (Amounts Reclassified Out Of Acc Other Comp Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Other Comprehensive Income Loss Before Tax [Abstract] | ||||
Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other Income) | $ (186) | $ (234) | ||
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (Statement of Income line: Non-service pension and postretirement benefit expense) | $ (287) | $ (450) | $ (897) | $ (1,215) |
Other Comprehensive Income In_5
Other Comprehensive Income Information (Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Other Comprehensive Income Information [Abstract] | ||||
Foreign exchange translation adjustment | $ 8 | $ 17 | $ 13 | $ (9) |
Postretirement benefits reserves adjustment (excluding amortization) | 74 | 66 | 154 | |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | (64) | (139) | (208) | (365) |
Total | $ (56) | $ (48) | $ (129) | $ (220) |
Earnings Per Share (Earnings Pe
Earnings Per Share (Earnings Per Share Computation) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Earnings per common share | |||||
Net income attributable to ExxonMobil | $ 6,240 | $ 3,970 | $ 14,840 | $ 11,330 | |
Weighted average number of common shares outstanding | 4,271 | 4,271 | 4,271 | 4,252 | |
Earnings per common share (dollars) | [1] | $ 1.46 | $ 0.93 | $ 3.47 | $ 2.66 |
Dividends per common share (dollars) | $ 0.82 | $ 0.77 | $ 2.41 | $ 2.29 | |
[1] | The calculation of earnings per common share and earnings per common share – assuming dilution are the same in each period shown. |
Pension And Other Postretirem_3
Pension And Other Postretirement Benefits (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Pension Benefits - U.S. | ||||
Service cost | $ 203 | $ 200 | $ 616 | $ 583 |
Interest cost | 179 | 199 | 540 | 598 |
Expected return on plan assets | (182) | (194) | (545) | (582) |
Amortization of actuarial loss/(gain) and prior service cost | 93 | 110 | 276 | 332 |
Net pension enhancement and curtailment/settlement cost | 63 | 187 | 189 | 450 |
Net benefit cost | 356 | 502 | 1,076 | 1,381 |
Pension Benefits - Non-U.S. [Member] | ||||
Service cost | 149 | 155 | 461 | 445 |
Interest cost | 185 | 198 | 571 | 574 |
Expected return on plan assets | (233) | (260) | (722) | (743) |
Amortization of actuarial loss/(gain) and prior service cost | 113 | 135 | 344 | 388 |
Net pension enhancement and curtailment/settlement cost | 33 | (5) | ||
Net benefit cost | 214 | 228 | 687 | 659 |
Other Postretirement Benefits [Member] | ||||
Service cost | 40 | 36 | 111 | 92 |
Interest cost | 75 | 88 | 226 | 227 |
Expected return on plan assets | (5) | (6) | (17) | (17) |
Amortization of actuarial loss/(gain) and prior service cost | 19 | 18 | 57 | 45 |
Net benefit cost | $ 129 | $ 136 | $ 377 | $ 347 |
Financial Instruments (Details)
Financial Instruments (Details) $ in Millions | Sep. 30, 2018USD ($) |
Financial Instrument [Line Items] | |
Derivative assets | $ 104 |
Advances to/receivables from equity companies | 8,835 |
Other long-term financial assets | 1,805 |
Derivative liabilities | 248 |
Long-term debt (excluding capitalized lease obligations) | 19,134 |
Long-term obligations to equity companies | 4,728 |
Other long-term financial liabilities | 1,121 |
Carrying Value Reported Amount Fair Value Disclosure [Member] | |
Financial Instrument [Line Items] | |
Derivative assets | 104 |
Advances to/receivables from equity companies | 8,969 |
Other long-term financial assets | 1,748 |
Derivative liabilities | 248 |
Long-term debt (excluding capitalized lease obligations) | 19,275 |
Long-term obligations to equity companies | 4,625 |
Other long-term financial liabilities | 1,114 |
Level 1 [Member] | |
Financial Instrument [Line Items] | |
Derivative assets | 104 |
Other long-term financial assets | 764 |
Derivative liabilities | 248 |
Long-term debt (excluding capitalized lease obligations) | 19,020 |
Level 2 [Member] | |
Financial Instrument [Line Items] | |
Advances to/receivables from equity companies | 1,763 |
Long-term debt (excluding capitalized lease obligations) | 110 |
Level 3 [Member] | |
Financial Instrument [Line Items] | |
Advances to/receivables from equity companies | 7,072 |
Other long-term financial assets | 1,041 |
Long-term debt (excluding capitalized lease obligations) | 4 |
Long-term obligations to equity companies | 4,728 |
Other long-term financial liabilities | $ 1,121 |
Derivative Instruments (Details
Derivative Instruments (Details 1) bbl in Millions, $ in Millions | 9 Months Ended | |
Sep. 30, 2018USD ($)bbl | Dec. 31, 2017USD ($) | |
Assets | $ 104 | $ 25 |
Liabilities | (248) | (63) |
Collateral receivable/(payable) | 272 | 94 |
Total | $ 128 | $ 56 |
Crude Oil [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments bbl | bbl | 16 | |
Products [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments bbl | bbl | 11 |
Derivative Instruments (Detai_2
Derivative Instruments (Details 2) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Realized and Unrealized Before-Tax Gain / Loss on Derivative Instruments Recognized in the Consolidated Statement of Income | ||||
Sales and other operating revenue | $ 74,187 | $ 59,350 | $ 211,079 | $ 171,850 |
Crude oil and product purchases | 41,776 | 31,432 | 119,391 | 91,985 |
Not Designated as Hedging Instrument [Member] | ||||
Realized and Unrealized Before-Tax Gain / Loss on Derivative Instruments Recognized in the Consolidated Statement of Income | ||||
Sales and other operating revenue | (68) | (11) | (72) | 16 |
Crude oil and product purchases | (107) | (80) | (380) | (37) |
Total | $ (175) | $ (91) | $ (452) | $ (21) |
Disclosures About Segments An_3
Disclosures About Segments And Related Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | $ 6,240 | $ 3,970 | $ 14,840 | $ 11,330 | |
Sales and other operating revenue | 74,187 | 59,350 | 211,079 | 171,850 | |
Upstream United States [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 606 | (238) | 1,474 | (439) | |
Sales and other operating revenue | 2,728 | 2,282 | 7,637 | 6,955 | |
Intersegment Revenue | 2,203 | 1,365 | 6,336 | 3,937 | |
Upstream Non-U.S. [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 3,623 | 1,805 | 9,292 | 5,442 | |
Sales and other operating revenue | 4,129 | 3,633 | 11,344 | 10,586 | |
Intersegment Revenue | 8,536 | 5,734 | 22,788 | 16,356 | |
Downstream United States [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 961 | 391 | 1,975 | 1,030 | |
Sales and other operating revenue | 19,963 | 15,423 | 56,616 | 44,533 | |
Intersegment Revenue | 5,834 | 3,134 | 16,527 | 10,621 | |
Downstream Non-U.S. [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 681 | 1,141 | 1,331 | 3,003 | |
Sales and other operating revenue | 39,077 | 30,955 | 110,855 | 88,866 | |
Intersegment Revenue | 8,275 | 5,866 | 22,975 | 16,048 | |
Chemical United States [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 404 | 403 | 1,360 | 1,413 | |
Sales and other operating revenue | 3,152 | 2,589 | 9,160 | 8,118 | |
Intersegment Revenue | 2,408 | 1,675 | 6,952 | 5,290 | |
Chemical Non-U.S. [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 309 | 689 | 1,254 | 1,835 | |
Sales and other operating revenue | 5,125 | 4,455 | 15,429 | 12,751 | |
Intersegment Revenue | 1,841 | 1,482 | 5,657 | 3,776 | |
Corporate And Financing [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | (344) | [1] | (221) | (1,846) | (954) |
Sales and other operating revenue | 13 | 13 | 38 | 41 | |
Intersegment Revenue | $ 54 | $ 51 | $ 153 | $ 154 | |
[1] | See Note 2 for additional details regarding the change in segmentation of Non-service pension and postretirement benefit expense. |
Disclosures About Segments An_4
Disclosures About Segments And Related Information (Schedule of Geographic Sales And Operating Revenue) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | ||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | $ 74,187 | $ 59,350 | $ 211,079 | $ 171,850 | |
U.S. [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | 25,843 | 20,294 | 73,413 | 59,606 | |
Non-U.S. [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | 48,344 | 39,056 | 137,666 | 112,244 | |
Canada [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 6,214 | 5,260 | 17,752 | 14,492 |
United Kingdom [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 4,797 | 4,057 | 14,240 | 12,309 |
Belgium [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 3,996 | 3,247 | 12,063 | 9,833 |
France [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 3,588 | 2,984 | 10,405 | 8,290 |
Singapore [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 3,502 | 2,888 | 10,387 | 8,264 |
Italy [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 3,316 | 2,913 | 9,684 | 8,317 |
Germany [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | $ 2,518 | $ 2,210 | $ 7,184 | $ 6,283 |
[1] | Revenue is determined by primary country of operations . Excludes certain sales and other operating revenues in Non -U.S. operations where attribution to a specific country is not practicable. |