Document And Entity Information
Document And Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2018 | Jan. 31, 2019 | Jun. 29, 2018 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2,018 | ||
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 Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Common Stock, Shares Outstanding | 4,234,802,431 | ||
Entity Public Float | $ 350 | ||
Entity Shell | false |
Consolidated Statement Of Incom
Consolidated Statement Of Income - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Revenues and other income | ||||
Sales and other operating revenue | $ 279,332 | $ 237,162 | $ 200,628 | |
Income from equity affiliates | 7,355 | 5,380 | 4,806 | |
Other income | 3,525 | 1,821 | 2,680 | |
Total revenues and other income | 290,212 | 244,363 | 208,114 | |
Costs and other deductions | ||||
Crude oil and product purchases | 156,172 | 128,217 | 104,171 | |
Production and manufacturing expenses | 36,682 | 32,690 | 30,448 | |
Selling, general and administrative expenses | 11,480 | 10,649 | 10,443 | |
Depreciation and depletion | 18,745 | 19,893 | 22,308 | |
Exploration expenses, including dry holes | 1,466 | 1,790 | 1,467 | |
Non-service pension and postretirement benefit expense | 1,285 | 1,745 | 1,835 | |
Interest expense | 766 | 601 | 453 | |
Other taxes and duties | 32,663 | 30,104 | 29,020 | |
Total costs and other deductions | 259,259 | 225,689 | 200,145 | |
Income before income taxes | 30,953 | 18,674 | 7,969 | |
Income taxes | 9,532 | (1,174) | (406) | |
Net income including noncontrolling interests | 21,421 | 19,848 | 8,375 | |
Net income attributable to noncontrolling interests | 581 | 138 | 535 | |
Net income attributable to ExxonMobil | [1] | $ 20,840 | $ 19,710 | $ 7,840 |
Earnings per common share (dollars) | [2] | $ 4.88 | $ 4.63 | $ 1.88 |
Earnings per common share - assuming dilution (dollars) | $ 4.88 | $ 4.63 | $ 1.88 | |
[1] | See Note 2 for additional details regarding the change in segmentation of Non-service pension and postretirement benefit expense . | |||
[2] | The earnings per common share and earnings per common share - assuming dilution are the same in each period shown . |
Consolidated Statement Of Compr
Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Consolidated Statement Of Comprehensive Income [Abstract] | |||
Net income including noncontrolling interests | $ 21,421 | $ 19,848 | $ 8,375 |
Other comprehensive income (net of income taxes) | |||
Foreign exchange translation adjustment | (5,077) | 5,352 | (174) |
Adjustment for foreign exchange translation (gain)/loss included in net income | 196 | 234 | |
Postretirement benefits reserves adjustment (excluding amortization) | 280 | (219) | 493 |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | 931 | 1,165 | 1,086 |
Total other comprehensive income | (3,670) | 6,532 | 1,405 |
Comprehensive income including noncontrolling interests | 17,751 | 26,380 | 9,780 |
Comprehensive income attributable to noncontrolling interests | 174 | 693 | 668 |
Comprehensive income attributable to ExxonMobil | $ 17,577 | $ 25,687 | $ 9,112 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets | ||
Cash and cash equivalents | $ 3,042 | $ 3,177 |
Notes and accounts receivable, less estimated doubtful amounts | 24,701 | 25,597 |
Inventories | ||
Crude oil, products and merchandise | 14,803 | 12,871 |
Materials and supplies | 4,155 | 4,121 |
Other current assets | 1,272 | 1,368 |
Total current assets | 47,973 | 47,134 |
Investments, advances and long-term receivables | 40,790 | 39,160 |
Property, plant and equipment, at cost, less accumulated depreciation and depletion | 247,101 | 252,630 |
Other assets, including intangibles, net | 10,332 | 9,767 |
Total assets | 346,196 | 348,691 |
Current liabilities | ||
Notes and loans payable | 17,258 | 17,930 |
Accounts payable and accrued liabilities | 37,268 | 36,796 |
Income taxes payable | 2,612 | 3,045 |
Total current liabilities | 57,138 | 57,771 |
Long-term debt | 20,538 | 24,406 |
Postretirement benefits reserves | 20,272 | 21,132 |
Deferred income tax liabilities | 27,244 | 26,893 |
Long-term obligations to equity companies | 4,382 | 4,774 |
Other long-term obligations | 18,094 | 19,215 |
Total liabilities | 147,668 | 154,191 |
Commitments and contingencies | ||
Equity | ||
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 15,258 | 14,656 |
Earnings reinvested | 421,653 | 414,540 |
Accumulated other comprehensive income | (19,564) | (16,262) |
Common stock held in treasury (3,782 million shares in 2018 and 3,780 million shares in 2017) | (225,553) | (225,246) |
ExxonMobil share of equity | 191,794 | 187,688 |
Noncontrolling interests | 6,734 | 6,812 |
Total equity | 198,528 | 194,500 |
Total liabilities and equity | $ 346,196 | $ 348,691 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
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 | 3,782 | 3,780 |
Consolidated Statement Of Cash
Consolidated Statement Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities | |||
Net income including noncontrolling interests | $ 21,421 | $ 19,848 | $ 8,375 |
Adjustments for noncash transactions | |||
Depreciation and depletion | 18,745 | 19,893 | 22,308 |
Deferred income tax charges/(credits) | (60) | (8,577) | (4,386) |
Postretirement benefits expense in excess of/(less than) net payments | 1,070 | 1,135 | (329) |
Other long-term obligation provisions in excess of/(less than) payments | (68) | (610) | (19) |
Dividends received greater than/(less than) equity in current earnings of equity companies | (1,684) | 131 | (579) |
Changes in operational working capital, excluding cash and debt | |||
Reduction/(increase) - Notes and accounts receivable | (545) | (3,954) | (2,090) |
Reduction/(increase) - Inventories | (3,107) | (1,682) | (388) |
Reduction/(increase) - Other current assets | (25) | (117) | 171 |
Increase/(reduction) - Accounts and other payables | 2,321 | 5,104 | 915 |
Net (gain) on asset sales | (1,993) | (334) | (1,682) |
All other items - net | (61) | (771) | (214) |
Net cash provided by operating activities | 36,014 | 30,066 | 22,082 |
Cash flows from investing activities | |||
Additions to property, plant and equipment | (19,574) | (15,402) | (16,163) |
Proceeds associated with sales of subsidiaries, property, plant and equipment, and sales and returns of investments | 4,123 | 3,103 | 4,275 |
Additional investments and advances | (1,981) | (5,507) | (1,417) |
Other investing activities including collection of advances | 986 | 2,076 | 902 |
Net cash used in investing activities | (16,446) | (15,730) | (12,403) |
Cash flows from financing activities | |||
Additions to long-term debt | 46 | 60 | 12,066 |
Additions to short-term debt | 1,735 | ||
Reductions in short-term debt | (4,752) | (5,024) | (314) |
Additions/(reductions) in commercial paper, and debt with three months or less maturity | (219) | 2,181 | (7,459) |
Cash dividends to ExxonMobil shareholders | (13,798) | (13,001) | (12,453) |
Cash dividends to noncontrolling interests | (243) | (184) | (162) |
Changes in noncontrolling interests | 146 | (150) | |
Common stock acquired | (626) | (747) | (977) |
Common stock sold | 6 | ||
Net cash used in financing activities | (19,446) | (15,130) | (9,293) |
Effects of exchange rate changes on cash | (257) | 314 | (434) |
Increase/(decrease) in cash and cash equivalents | (135) | (480) | (48) |
Cash and cash equivalents at beginning of year | 3,177 | 3,657 | 3,705 |
Cash and cash equivalents at end of year | $ 3,042 | $ 3,177 | $ 3,657 |
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, 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 | ||||||
Amortization of stock-based awards | $ 758 | 758 | 758 | ||||
Other | 280 | (156) | (156) | 436 | |||
Net income for the year | 21,421 | 20,840 | 20,840 | 581 | |||
Dividends - common shares (company) | (13,798) | (13,798) | |||||
Dividends - common shares (NCI) | (243) | ||||||
Dividends - common shares (total) | (14,041) | ||||||
Cumulative effect of accounting change | 47 | 71 | (39) | 32 | 15 | ||
Other comprehensive income | (3,670) | (3,263) | (3,263) | (407) | |||
Acquisitions, at cost (company) | (626) | (626) | |||||
Acquisitions, at cost (NCI) | (460) | ||||||
Acquisitions, at cost (total) | (1,086) | ||||||
Dispositions | $ 319 | 319 | 319 | ||||
Acquisitions (in shares) | (8) | ||||||
Dispositions (in shares) | 6 | ||||||
Balance at Dec. 31, 2018 | $ 198,528 | $ 15,258 | $ 421,653 | $ (19,564) | $ (225,553) | $ 191,794 | $ 6,734 |
Balance (in shares) - issued at Dec. 31, 2018 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2018 | (3,782) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2018 | 4,237 |
Summary Of Accounting Policies
Summary Of Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Summary Of Accounting Policies [Abstract] | |
Summary Of Accounting Policies | 1. Summary of Accounting Policies Principles of Consolidation and Accounting for Investments 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 lon g-term receivables” . The Corporation’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 whi ch subsidiaries are consolidated. 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 investments 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 histo ry of operating losses, negative 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 tempor ary 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. Investments in equity securities other than consolidated subs idiaries and equity method investments are measured at fair value with changes in fair value recognized in net income. The Corporation uses the modified approach for equity securities that do not have a readily determinable fair value. This modified approa ch measures investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions in a similar investment of the same issuer. The Corporation’s share of the cumulative foreign exchange translati on adjustment for equity 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 m arket 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 tak en control, which is typically when title transfers and the customer has assumed the risks and rewards of ownership. The prices of certain sales are based on price indices that are sometimes not available until the next period. In such cases, estimated rea lizations are accrued when the sale is recognized, and are finalized when the 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 the end of the period are expected to be fulfilled through ordinary production or purchases. These performance obligations are based on market prices at the time of the transaction and are fully constrained due to market price volatility. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another are combined and recorded as exchanges measured at the book value of the item sold. “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 assets are mainly from marketing assistance programs and are not signif icant. Contract liabilities are mainly customer prepayments and accruals of expected volume discounts and are not significant. Income and Other Taxes T he Corporation excludes from the Consolidated Statement of Income certain sales and value-added taxes imposed on and concurrent with revenue-producing transactions with customers and collected on behalf of governmental authorities. Similar taxes , for which the Corporation is not considered to be an agent for the government , are reported on a gross basis (i ncluded in both “Sales and other operating revenue” and “ Other taxes and duties ”). The Corporation accounts for U.S. tax on global intangible low-taxed income as an income tax expense in the period in which it is incurred. We have elected not to adopt an o ption provided by the Financial Accounting Standards Board Update, Income Statement – Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The option allowed the reclassification from accumula ted other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. De rivative Instruments The Corporation may use derivative instruments for trading purposes and to offset exposures associated with commodity prices, foreign currency exchange rates and interest rate s that arise from existing assets, liabilities and forecasted transactions. All derivative instruments are recorded at fair value. Derivative assets and liabilities with the same counterpar ty are netted if the right of offset exists and certain other criteria are met. Collateral payables or receivables are netted against derivative assets and derivative liabilities, respectively. Recognition and classification of the gain or loss that results from adjusting a derivative to fair value depends on the purpose for the derivative. All gains and losses from derivative instruments for which the Corporation does not apply hedge accounting are immediately recognized in earnings. We may designate derivatives as fair value or cash flow hedges. For fair value hedges, the gain or loss from derivative instruments and the offsetting gain or loss from the hedged item are recognized in earnings . For cash flow hedges, the effective portion of the gain or loss from the derivative instrument is initially reported as a component of other comprehensive income and subsequently reclassified into earnings in the period that the forecasted transaction affects earnings, and the ineffective portion of the gain or lo ss from the derivative instrument 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 liability. 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 o f current market value or cost (generally determined under the last-in, first-out method – LIFO). Inventory costs include expenditures and other charges (including depreciation) directly and indirectly incurred in bringing the inventory to its existing con dition and location. Selling expenses and general and administrative expenses are reported 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 Co rporation 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 unprove d 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 asses sing the reserves and the economic and operating viability of the project. Exploratory well costs not meeting these criteria are charged to expense. Other exploratory expenditures, including geophysical costs and annual lease rentals, are expensed as incur red. Development costs, including costs of productive wells and development dry holes, 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 productive 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-production method does not result in an equitable allocation of cost over the economic life of an upstream asset, an alternative method is used. The s traight-line method is used in limited situations where the expected life of the asset does not reasonably correlate 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 th e reserves, and as such, the Corporation use s straight-line depreciation to ensure the asset is fully depreciated 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 pr oduce 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 changes. 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 life. 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 recoverability on an ongoing basis whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. Among the ev ents or changes in circumstances which could indicate that the carrying value of an asset or asset group may not be recoverable 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, includin g 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 curre nt 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 p rofitability reviews assist the Corporation in assessing whether events or changes in circumstances indicate the carrying amounts 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 c ontinue 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 e fficiency advancements. OPEC investment activities and production policies also have an impact on world oil supplies. The demand 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 views 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 val ue of an asset may not be recoverable, the Corporation considers recent periods of operating losses in the context of its longer-term view of prices. While near-term prices are subject to wide fluctuations, longer-term price views are more stable and meani ngful 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 oil price, natural gas price or margin ranges, the Corporation may consider that situation, in conjunction with other events or chang es 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 discrete points in time and could be higher or lower than the Corporation’s long-term price assumptions which are used for impairment ass essments. 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 an impairment assessment. If events or changes in 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 Corporation’s assumptions which are developed in the annual planning and budgeting process, and are consistent with the cri teria management uses to evaluate investment opportunities. These evaluations make use of the Corporation’s assumptions of future capital allocations, crude oil and natural gas commodity prices, refining and chemical margins, volumes, costs, and foreign cu rrency exchange rates. Volumes are based on projected field and facility production profiles, throughput, or sales. Where unproved reserves exist, an appropriately risk-adjusted amount of these reserves may be included in the evaluation. Cash flow estimate s for impairment testing exclude the effects of derivative instruments. An asset group is impaired if its estimated undiscounted cash flows 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 discount rate commensurate with the risk. Significant unproved properties are assessed for impairment individually, and valua tion 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 grou ps 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 properties 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 the 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 equipment and are depreciated over the service life of the related assets. Asset Retirement Obligations and Environment al 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 thes e 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 inc urred and the amounts can be reasonably estimated. These liabilities are not reduced by possible recoveries from third parties , and projected cash expenditures are not discounted. Fo reign Currency Translation The Corporation selects the functional report ing currency for its international subsidiaries based on the currency of the primary economic environment in which each subsidiary operates. 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 market. 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. F or all operations, gains or losses from remeasuring foreign currency transactions into the functional currency are included in income. |
Accounting Changes
Accounting Changes | 12 Months Ended |
Dec. 31, 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 material 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. 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 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 through 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 observable price chang es in orderly transactions for the identical or a similar investment of the same issuer. The cumulative effect adjustment related to the adoption of this standard increased opening 2018 retained earnings $ 47 million. 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 expens e”. 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 presentation requ irements, 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 in segm entation is an increase in Corporate and financing expenses of about $ 450 million for 2018. The increase in the Corporate and financing expenses is offset by lower expenses across the operating 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 presentation change on ExxonMobil's C onsolidated Statement of Income for 2017 and 2016 is shown below. 2017 2016 As Reported Change As Adjusted As Reported Change As Adjusted (millions of dollars) Production and manufacturing expenses 34,128 (1,438) 32,690 31,927 (1,479) 30,448 Selling, general and administrative expenses 10,956 (307) 10,649 10,799 (356) 10,443 Non-service pension and postretirement benefit expense - 1,745 1,745 - 1,835 1,835 Effective January 1, 2019, the Corporation adopted the Financial Accounting Standards Board’s Standard, Leases (Topic 842) , as amended. The standard requires all leases to be recorded on the balance sheet as a right of use asset and a lease liability. The Corporation use d a transition method that applies the new lease standard at January 1, 2019, and recognizes any cumulative-effect adjustments to the opening balance of 2019 retained earnings. The Corporation applied a policy election to exclude short-term leases from balance sheet recognition and also elect ed certain practical expedients at adoption. As permitted under these expedients the Corporation did not reassess whether existing contracts are or contain leases, the lease classification for any existi ng leases, initial direct costs for any existing lease and whether exist ing land easements and rights of way , that were not previously accounted for as leases , are or contain a lease. At January 1, 2019, the operating lease liability is estimated to be in the range of $ 3.3 billion and the operating lease right of use asset is esti mated to be in the range of $ 4.3 billion, including about $ 1.0 billion related to prepaid lease s . The cumulative effect adjustment is expected to be de minimis. |
Miscellaneous Financial Informa
Miscellaneous Financial Information | 12 Months Ended |
Dec. 31, 2018 | |
Miscellaneous Financial Information [Abstract] | |
Miscellaneous Financial Information | 3. Miscellaneous Financial Information Research and d evelopment expenses totaled $ 1,116 million in 2018, $ 1,063 million in 2017, and $ 1,058 million in 2016. Net income included before -tax aggregate fo reign exchange transaction losses of $ 138 million in 2018, and gains of $ 6 million and $ 29 million in 2017 and 2016 , respectively . In 2018, 2017 and 2016, net income included a gain of $ 107 million, and losses of $ 10 million, and $ 295 million, respectively, attributable to the combined effects o f LIFO inventory accumulations and drawdowns. The aggregate replacement cost of inventories was estimated to exceed th eir LIFO carrying values by $ 8.2 billion and $ 10.8 billion at December 31, 2018, and 2017, respectively. Crude oil, products and merchandi se as of year-end 2018 and 2017 consist of the following: 2018 2017 (millions of dollars) Crude oil 4,783 4,635 Petroleum products 5,666 4,333 Chemical products 3,821 3,283 Gas/other 533 620 Total 14,803 12,871 |
Other Comprehensive Income Info
Other Comprehensive Income Information | 12 Months Ended |
Dec. 31, 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, 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) Current period change excluding amounts reclassified from accumulated other comprehensive income (4,595) 201 (4,394) Amounts reclassified from accumulated other comprehensive income 196 896 1,092 Total change in accumulated other comprehensive income (4,399) 1,097 (3,302) Balance as of December 31, 2018 (13,881) (5,683) (19,564) Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) 2018 2017 2016 (millions of dollars) Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) (196) (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) (1,208) (1,656) (1,531) Income Tax (Expense)/Credit For Components of Other Comprehensive Income 2018 2017 2016 (millions of dollars) Foreign exchange translation adjustment 32 67 43 Postretirement benefits reserves adjustment (excluding amortization) (193) 201 (247) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (277) (491) (445) Total (438) (223) (649) |
Cash Flow Information
Cash Flow Information | 12 Months Ended |
Dec. 31, 2018 | |
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 8 , the “Net (gain) on asset sales” on the Consolidated Statement of Cash Flows includes before-tax amounts from the sale of service stations in Germany, the divestment of the Augusta refinery in Italy, and the sale of an undeveloped Upstream property in Australia . For 201 7 , the number 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 business 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. These net gains are reported in “Other income” on the Consolidated Statement of Income. In 201 8 , the “Additions/(reductions) in commercial paper, and debt with three months or less maturity” on the Consolidated Statement of Cash Flows includes a net $ 275 million addition of commercial paper with maturity over three months . The gro ss amount issued was $ 4.0 billion, while the gross amount repaid was $ 3.8 billion. In 201 7 , the number includes a net $ 121 million repayment of commercial paper with maturity over three months . The gross amount issued was $ 3.6 billion, while the gross amou nt 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 amount issued was $ 3 . 9 billion, while the gross amount repaid was $ 3 . 3 billion. In 2017, the Corporation com pleted the acquisitions of InterOil Corporation, mostly unproved properties in Papua New Guinea, for $ 2.7 billion and of companies that own mostly unproved oil and gas properties in the Permian Basin and other assets for $ 6.2 billion. These transactions in cluded a significant noncash component associated with the issuance of a total of 96 million shares of Exxon Mobil Corporation common stock in acquisition consideration, having a total acquisition date value of $ 7.8 billion. 2018 2017 2016 (millions of dollars) Cash payments for interest 955 1,132 818 Cash payments for income taxes 9,294 7,510 4,214 |
Additional Working Capital Info
Additional Working Capital Information | 12 Months Ended |
Dec. 31, 2018 | |
Additional Working Capital Information [Abstract] | |
Additional Working Capital Information | 6 . Additional Working Capital Information Dec. 31 Dec. 31 2018 2017 (millions of dollars) Notes and accounts receivable Trade, less reserves of $61 million and $72 million 19,638 21,274 Other, less reserves of $339 million and $539 million 5,063 4,323 Total 24,701 25,597 Notes and loans payable Bank loans 325 115 Commercial paper 12,863 13,049 Long-term debt due within one year 4,070 4,766 Total 17,258 17,930 Accounts payable and accrued liabilities Trade payables 21,063 21,701 Payables to equity companies 6,863 5,453 Accrued taxes other than income taxes 3,280 3,311 Other 6,062 6,331 Total 37,268 36,796 The Corporation has short-term committed lines of credit of $ 5.3 billion which were unused as of December 31, 2018. T hese lines are available for general corporate purposes . The weighted-average interest rate on short-term borrowings outstanding was 2.4 percent and 1.3 percent at December 31, 201 8 , and 201 7 , respectively. |
Equity Company Information
Equity Company Information | 12 Months Ended |
Dec. 31, 2018 | |
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; liquefied natural gas (LNG) oper ations and transportation of crude oil in Africa; and exploration , production, LNG operations, and the manufacture and sale of petroleum and petrochemical products in Asia and the Middle East . Also included are several refining, petrochemical manufacturing and marketing ventures. The share of total equity company revenues from sales to ExxonMo bil consolidated companies was 14 percent, 15 percent and 14 percent in the years 2018, 2017 and 2016, respectively. 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 practic able 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 Incom e. 2018 2017 2016 Equity Company ExxonMobil ExxonMobil ExxonMobil Financial Summary Total Share Total Share Total Share (millions of dollars) Total revenues 112,938 34,539 94,791 29,340 80,247 24,668 Income before income taxes 37,203 10,482 29,748 8,498 22,269 6,509 Income taxes 11,568 3,151 8,421 2,236 6,334 1,701 Income from equity affiliates 25,635 7,331 21,327 6,262 15,935 4,808 Current assets 38,670 13,394 35,367 12,050 34,412 11,392 Long-term assets 128,830 35,970 122,221 34,931 109,646 32,357 Total assets 167,500 49,364 157,588 46,981 144,058 43,749 Current liabilities 27,324 7,606 21,725 6,348 20,507 5,765 Long-term liabilities 56,913 17,109 59,736 17,056 62,110 17,288 Net assets 83,263 24,649 76,127 23,577 61,441 20,696 A list of significant equity companies as of December 31, 201 8 , 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 Caspian Pipeline Consortium - Kazakhstan 8 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 10 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 Gulf Coast Growth Ventures LLC 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, 2018 | |
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, 2018 2017 (millions of dollars) Equity method company investments and advances Investments 26,382 24,354 Advances 8,608 9,112 Total equity method company investments and advances 34,990 33,466 Equity securities carried at fair value and other investments at adjusted cost basis (1) 210 174 Long-term receivables and miscellaneous, net of reserves of $ 5,471 million and $5,432 million 5,590 5,520 Total 40,790 39,160 (1) 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 portion of unrealized gains and losses recognized during the reporting period on equity securities still held at December 31, 2018, and the carrying value of equity securities without readily determinable fair values at December 31, 2018, were not significant to the Corporation. |
Property, Plant And Equipment A
Property, Plant And Equipment And Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 December 31, 2017 Property, Plant and Equipment Cost Net Cost Net (millions of dollars) Upstream 372,791 194,662 371,904 200,291 Downstream 48,241 21,448 50,343 21,732 Chemical 39,008 20,551 37,966 20,117 Other 17,150 10,440 16,972 10,490 Total 477,190 247,101 477,185 252,630 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. In 2018, the Corporation identified a number of situations where events or changes in circumstances indicated that the carrying value of certain long-lived assets, mainly in North America, may not be recoverable. Accordingly, impairment assessment s were performed which indicated that certain asset groups assessed have future undiscounted cash flow estimates that do not recover their carrying values. T he C orporation’s 2018 results include before-tax charge s of $ 0.7 billion to reduce the carrying value of those assets to fair value. In 2017 and 2016, the Corporation recognized before-tax impairment charges of $ 2.0 billion and $ 3.6 billion, respectively. The assessment of fair values required 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 consistent with the average of third-party industry experts a nd government agencies, drilling and development costs, a range of discount rates 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 pace of oil and natural gas price increases. However, due to th e 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 potential future impairment charges related to the Corporation’s long-lived assets. Accumulated depreciation and depletion totaled $ 230,089 million at the end of 2018 and $ 224,555 million at the end of 2017. Interest capitalized in 2018, 2017 and 2016 was $ 652 million, $ 749 million and $ 708 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 : 2018 2017 (millions of dollars) Beginning balance 12,705 13,243 Accretion expense and other provisions 681 780 Reduction due to property sales (333) (906) Payments made (600) (730) Liabilities incurred 46 128 Foreign currency translation (481) 611 Revisions 85 (421) Ending balance 12,103 12,705 The long -term Asset Retirement Obligations were $ 11,185 million and $ 11,928 million at December 31, 2018, and 2017, respectively, and are included in Other long-term obligations. |
Accounting For Suspended Explor
Accounting For Suspended Exploratory Well Costs | 12 Months Ended |
Dec. 31, 2018 | |
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: 2018 2017 2016 (millions of dollars) Balance beginning at January 1 3,700 4,477 4,372 Additions pending the determination of proved reserves 564 906 180 Charged to expense (7) (1,205) (111) Reclassifications to wells, facilities and equipment based on the determination of proved reserves (48) (497) - Divestments/Other (49) 19 36 Ending balance at December 31 4,160 3,700 4,477 Ending balance attributed to equity companies included above 306 306 707 Period end capitalized suspended exploratory well costs: 2018 2017 2016 (millions of dollars) Capitalized for a period of one year or less 564 906 180 Capitalized for a period of between one and five years 2,028 1,345 2,981 Capitalized for a period of between five and ten years 1,150 1,064 911 Capitalized for a period of greater than ten years 418 385 405 Capitalized for a period greater than one year - subtotal 3,596 2,794 4,297 Total 4,160 3,700 4,477 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 of greater than one year . 2018 2017 2016 Number of projects that only have exploratory well costs capitalized for a period of one year or less 6 11 2 Number of projects that have exploratory well costs capitalized for a period of greater than one year 52 46 58 Total 58 57 60 Of the 52 projects that have exploratory well costs capitalized for a period greater than one year as of December 31, 2018, 12 projects have drilling in the preceding year or exploratory activity planned in the next two years , while the remaining 40 projects are those with completed exploratory activity progressing toward development. The table below provides additional detail for those 40 projects, which total $ 2,543 million. Years Wells Dec. 31, Drilled / Country/Project 2018 Acquired 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 Argentina - La Invernada 72 2014 Evaluating development plan to tie into planned infrastructure. Australia - East Pilchard 7 2001 Gas field near Kipper/Tuna development, awaiting capacity in existing/ planned infrastructure. - Gorgon Area Ullage 318 1994 - 2015 Evaluating development plans to tie into existing LNG facilities. - SE Longtom 11 2010 Gas field near Tuna development, awaiting capacity in existing/planned infrastructure. - SE Remora 33 2010 Gas field near Marlin development, awaiting capacity in existing/planned infrastructure. Guyana - Liza Phase 2 37 2017 Continuing development plan discussions with the government. 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/progressing development alternatives, while continuing discussions with the government regarding development plan. Mozambique - Rovuma LNG Future 120 2017 Evaluating/progressing development plan to tie into planned LNG facilities. Non-Straddling Train - Rovuma LNG Phase 1 150 2017 Progressing development plan to tie into planned LNG facilities. - Rovuma LNG Unitized 35 2017 Evaluating/progressing development plan to tie into planned LNG facilities. Trains Nigeria - Bolia 15 2002 - 2006 Evaluating development plan, while continuing discussions with the government regarding regional hub strategy. - Bonga North 34 2004 - 2009 Evaluating/progressing development plan for tieback to existing/planned infrastructure. - 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 SS 13 2015 Evaluating development plan for tieback to existing production facilities. - OML 138 Ukot SW 41 2014 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 (4 projects) 10 2001 - 2002 Evaluating and pursuing development of several additional discoveries. Years Wells Dec. 31, Drilled / Country/Project 2018 Acquired Comment (millions of dollars) Norway - Gamma 13 2008 - 2009 Evaluating development plan for tieback to existing production facilities. - Lavrans 15 1995 - 1999 Evaluating development plan, awaiting capacity in existing Kristin production facility. - Other (6 projects) 23 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. - Papua LNG 246 2017 Evaluating/progressing development plans. 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 Evaluating/progressing development plans. Total 2018 (40 projects) 2,543 |
Leased Facilities
Leased Facilities | 12 Months Ended |
Dec. 31, 2018 | |
Leased Facilities [Abstract] | |
Leased Facilities | 11. Leased Facilities At December 31, 2018 , the Corporation and its consolidated subsidiaries held noncancelable operating leases and charters covering drilling equipment, tankers and other assets with minimum undiscounted lease commitments totaling $ 6,112 million as indicated in the table. Estimated re lated sublease rental income from noncancelable subleases totals $ 22 million . Lease Payments Under Minimum Commitments Drilling Rigs and Related Equipment Other Total (millions of dollars) 2019 222 934 1,156 2020 166 819 985 2021 107 658 765 2022 43 506 549 2023 32 422 454 2024 and beyond 53 2,150 2,203 Total 623 5,489 6,112 Net rental cost under both cancelable and noncancelable operating leases incurred during 2018 , 2017 and 2016 were as follows : 2018 2017 2016 (millions of dollars) Rental cost Drilling rigs and related equipment 723 792 1,274 Other (net of sublease rental income) 1,992 1,826 1,817 Total 2,715 2,618 3,091 |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 1 2 . Earnings Per Share Earnings per common share 2018 2017 2016 Net income attributable to ExxonMobil (millions of dollars) 20,840 19,710 7,840 Weighted average number of common shares outstanding (millions of shares) 4,270 4,256 4,177 Earnings per common share (dollars) (1) 4.88 4.63 1.88 Dividends paid per common share (dollars) 3.23 3.06 2.98 (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, 2018 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments And Derivatives | 13. Financial Instruments and Derivatives Financial Instruments. The estimated fair value of fi nancial instruments at December 31 , 2018, and the related hierarchy level for the fair value measurement is as follows: At December 31, 2018 (millions of dollars) Fair Value Level 1 Level 2 Level 3 Total Gross Assets & Liabilities Effect of Counterparty Netting Effect of Collateral Netting Difference in Carrying Value and Fair Value Net Carrying Value Presented on the Balance Sheet Assets Derivative assets (1) 297 - - 297 (151) (146) - - Advances to/receivables from equity companies (2)(7) - 2,100 6,293 8,393 - - 215 8,608 Other long-term financial assets (3) 848 - 974 1,822 - - 112 1,934 Liabilities Derivative liabilities (4) 151 - - 151 (151) - - - Long-term debt (5) 19,029 117 4 19,150 - - 85 19,235 Long-term obligations to equity companies (7) - - 4,330 4,330 - - 52 4,382 Other long-term financial liabilities (6) - - 1,046 1,046 - - (3) 1,043 (1) Included in the Balance Sheet line: Notes and accounts receivable, less estimated doubtful amounts (2) Included in the Balance Sheet line: Investments, advances and long-term receivables (3) Included in the Balance Sheet lines: Investments, advances and long-term receivables and Other assets, including intangibles, net (4) Included in the Balance Sheet line: Accounts payable and accrued liabilities (5) Excluding capitalized lease obligations (6) Included in the Balance Sheet line: Other long-term obligations (7) Advances to/receivables from equity companies and long-term obligations to equity companies are mainly designated as hierarchy level 3 inputs. The fair value is calculated by discounting the remaining obligations by a rate consistent with the credit quality and industry of the equity company. The estimated fair value of total long-term debt, excluding capitalized lease obligations, was $ 23.7 billion at December 31, 2017, as compared to recorded book values of $ 23.1 billion at December 31, 2017. 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 commodity prices, currency rates and interest rates . In addition, the Corporation uses commodity-based contracts, including derivatives, to manage commodity price risk and for trading purposes . The Corporation ’s commodity derivatives are not accounted for under hedge accou nting. At times, the Corporation also enters into forward currency and interest rate derivatives, none of which are material to the Corporation’s financial position as of December 31, 2018 and 2017, or results of operations for the years ended 2018, 2017 a nd 2016. 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 place d on derivative counterparties. The Corporation main tains a system of controls that includes the authorization, reporting and monitoring of derivative activity . The carrying values of derivative instruments on the consolidated balance sheet, at December 31, 2017, were gross assets of $ 25 million, gross liab ilities of ($ 63 ) million and collateral receivable of $ 94 million. At December 31, 2018, the net noti onal long/(short) position of derivative instruments was ( 19 ) million barrels for crude oil and was ( 9 ) 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: 2018 2017 2016 (millions of dollars) Sales and other operating revenue 130 6 (12) Crude oil and product purchases (120) (105) (69) Total 10 (99) (81) |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2018 | |
Long-Term Debt [Abstract] | |
Long-Term Debt | 14. Long-Term Debt At December 31, 201 8 , long-term debt consisted of $19,940 million due in U.S. dollars and $598 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 $4,070 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 9 , in millions of dollars, are: 2020 – $1,639 ; 2021 – $2,571 ; 2022 – $1,841 ; and 2023 – $1,304 . At December 31, 2018, the Corporation’s unused long-term credit lines were $ 0.2 billion. Sum marized long-term debt at year-end 201 8 and 20 17 are shown in the table below: Average Rate (1) 2018 2017 (millions of dollars) Exxon Mobil Corporation 1.819% notes due 2019 - 1,750 1.708% notes due 2019 - 1,250 Floating-rate notes due 2019 (Issued 2014) - 500 Floating-rate notes due 2019 (Issued 2016) - 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 2.502% 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) 6.100% senior notes due 2036 195 195 6.750% senior notes due 2037 299 302 6.375% senior notes due 2038 230 232 Mobil Corporation 8.625% debentures due 2021 250 250 Industrial revenue bonds due 2019-2051 1.334% 2,513 2,559 Other U.S. dollar obligations 102 162 Other foreign currency obligations 38 34 Capitalized lease obligations 9.440% 1,303 1,327 Debt issuance costs (42) (55) Total long-term debt 20,538 24,406 (1) Average effect ive interest rate for debt and average imputed interest rate for capitalized leases at December 31, 2018. (2) Includes premiums of $ 97 million in 2018 and $ 102 million in 2017 . |
Incentive Program
Incentive Program | 12 Months Ended |
Dec. 31, 2018 | |
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 s . 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 8 , remaining shares available for award under the 2003 Incentive Program were 82 million . Restricted S tock and Restricted Stock Units . Awards totaling 8,771 thousand, 8,916 thousand, and 9,583 thousand of restricted ( nonvested ) common stock units were granted in 2018, 201 7 and 201 6 , 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 8 . 2018 Weighted Average Grant-Date Restricted stock and units outstanding Shares Fair Value per Share (thousands) (dollars) Issued and outstanding at January 1 41,078 86.34 2017 award issued in 2018 8,910 81.89 Vested (9,347) 81.14 Forfeited (260) 85.72 Issued and outstanding at December 31 40,381 86.56 Value of restricted stock units 2018 2017 2016 Grant price (dollars) 77.66 81.89 87.70 Value at date of grant: (millions of dollars) Units settled in stock 620 667 771 Units settled in cash 61 63 69 Total value 681 730 840 As of December 31, 201 8 , there was $ 1,899 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. 4 years. The compensation cost charged against income for the restricted stock and restricted stock units was $ 774 million, $ 856 million and $ 880 million for 2018, 201 7 and 201 6 , respectively. The income tax benefit recognized in income related to this compensation expense was $ 42 million, $ 78 million and $ 80 million for the same periods, respectively. The fair value of shares and units vested in 2018, 201 7 and 201 6 was $ 722 million, $ 826 million and $ 851 million, respectively. Cash p ayments of $ 61 million, $ 64 million and $ 67 million for vested restric ted stock units settled in cash were made in 2018, 201 7 and 201 6 , respectively. |
Litigation And Other Contingenc
Litigation And Other Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
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, 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 potent ial exposure. December 31, 2018 Equity Company Other Third-Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 537 71 608 Other 850 4,380 5,230 Total 1,387 4,451 5,838 (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 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 conv ersion 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 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. 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 Cerr o 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 rules 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 ICSID on September 26, 2018. The net impact of this matter on the Corporation’s consolidated fi nancial 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 Pr oduction 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 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 Arb itration 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 plu s $ 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 t hat 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 federal 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 N igerian 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 arbitration award against NNPC assets residing within that jurisdictio n. 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 no t 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, 2018 | |
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 2018 2017 2018 2017 2018 2017 (percent) Weighted-average assumptions used to determine benefit obligations at December 31 Discount rate 4.40 3.80 3.00 2.80 4.40 3.80 Long-term rate of compensation increase 5.75 5.75 4.30 4.30 5.75 5.75 (millions of dollars) Change in benefit obligation Benefit obligation at January 1 19,310 19,960 27,963 25,196 8,100 7,800 Service cost 819 784 608 596 152 129 Interest cost 721 798 754 772 301 317 Actuarial loss/(gain) (957) 733 (1,034) 250 (630) 231 Benefits paid (1) (2) (1,715) (2,964) (1,284) (1,291) (528) (543) Foreign exchange rate changes - - (1,664) 2,484 (49) 40 Amendments, divestments and other (4) (1) 35 (44) 125 126 Benefit obligation at December 31 18,174 19,310 25,378 27,963 7,471 8,100 Accumulated benefit obligation at December 31 14,683 15,557 23,350 25,557 - - (1) Benefit payments for funded and unfunded plans. (2) For 201 8 and 201 7 , other postretirement benefits paid are net of $13 million and $16 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 liabilitie s . The measurement of the accumulated postretirement benefit obligation assumes a health care cost trend rate of 4.5 percent in 2020 and subsequent years . A one-percentage-point increase in the health care cost trend rate would increase service and intere st cost by $ 74 million and the postretirement benefit obligation by $ 776 million. A one-percentage-point decrease in the health care cost trend rate would decrease service and interest cost by $ 56 million and the postretirement benefit obligation by $ 620 m illion. Pension Benefits Other Postretirement U.S. Non-U.S. Benefits 2018 2017 2018 2017 2018 2017 (millions of dollars) Change in plan assets Fair value at January 1 12,782 12,793 21,461 19,043 427 411 Actual return on plan assets (710) 1,831 (15) 1,442 (13) 40 Foreign exchange rate changes - - (1,320) 1,776 - - Company contribution 491 619 438 440 30 34 Benefits paid (1) (1,429) (2,461) (903) (902) (58) (58) Other - - (175) (338) - - Fair value at December 31 11,134 12,782 19,486 21,461 386 427 (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. 2018 2017 2018 2017 (millions of dollars) Assets in excess of/(less than) benefit obligation Balance at December 31 Funded plans (4,604) (3,957) 439 413 Unfunded plans (2,436) (2,571) (6,331) (6,915) Total (7,040) (6,528) (5,892) (6,502) 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 2018 2017 2018 2017 2018 2017 (millions of dollars) Assets in excess of/(less than) benefit obligation Balance at December 31 (1) (7,040) (6,528) (5,892) (6,502) (7,085) (7,673) Amounts recorded in the consolidated balance sheet consist of: Other assets - - 1,174 1,403 - - Current liabilities (243) (276) (314) (338) (362) (360) Postretirement benefits reserves (6,797) (6,252) (6,752) (7,567) (6,723) (7,313) Total recorded (7,040) (6,528) (5,892) (6,502) (7,085) (7,673) Amounts recorded in accumulated other comprehensive income consist of: Net actuarial loss/(gain) 3,831 3,982 4,713 5,586 877 1,595 Prior service cost 6 11 (93) (143) (357) (397) Total recorded in accumulated other comprehensive income 3,837 3,993 4,620 5,443 520 1,198 (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 2018 2017 2016 2018 2017 2016 2018 2017 2016 Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31 (percent) Discount rate 3.80 4.25 4.25 2.80 3.00 3.60 3.80 4.25 4.25 Long-term rate of return on funded assets 6.00 6.50 6.50 4.70 5.20 5.25 6.00 6.50 6.50 Long-term rate of compensation increase 5.75 5.75 5.75 4.30 4.00 4.80 5.75 5.75 5.75 Components of net periodic benefit cost (millions of dollars) Service cost 819 784 810 608 596 585 152 129 153 Interest cost 721 798 793 754 772 844 301 317 344 Expected return on plan assets (727) (775) (726) (951) (1,000) (927) (23) (24) (25) Amortization of actuarial loss/(gain) 362 438 492 409 476 536 116 96 153 Amortization of prior service cost 5 5 6 46 47 54 (40) (33) (30) Net pension enhancement and curtailment/settlement cost 268 609 319 44 19 2 - - - Net periodic benefit cost 1,448 1,859 1,694 910 910 1,094 506 485 595 Changes in amounts recorded in accumulated other comprehensive income: Net actuarial loss/(gain) 479 (324) 27 (66) (191) (156) (594) 215 (555) Amortization of actuarial (loss)/gain (630) (1,047) (811) (453) (495) (538) (116) (96) (153) Prior service cost/(credit) - - - 98 111 32 - - - Amortization of prior service (cost)/credit (5) (5) (6) (46) (47) (54) 40 33 30 Foreign exchange rate changes - - - (356) 559 (108) (8) 8 5 Total recorded in other comprehensive income (156) (1,376) (790) (823) (63) (824) (678) 160 (673) Total recorded in net periodic benefit cost and other comprehensive income, before tax 1,292 483 904 87 847 270 (172) 645 (78) Costs for defined contribution plans were $ 391 million, $ 384 million and $ 399 million in 201 8 , 201 7 and 20 16 , respectively. A summary of the change in accumulated other comprehensive income is shown in the table below: Total Pension and Other Postretirement Benefits 2018 2017 2016 (millions of dollars) (Charge)/credit to other comprehensive income, before tax U.S. pension 156 1,376 790 Non-U.S. pension 823 63 824 Other postretirement benefits 678 (160) 673 Total (charge)/credit to other comprehensive income, before tax 1,657 1,279 2,287 (Charge)/credit to income tax (see Note 4) (470) (290) (692) (Charge)/credit to investment in equity companies 24 (43) (16) (Charge)/credit to other comprehensive income including noncontrolling interests, after tax 1,211 946 1,579 Charge/(credit) to equity of noncontrolling interests (114) 12 24 (Charge)/credit to other comprehensive income attributable to ExxonMobil 1,097 958 1,603 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 f unds are largely invested 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 percent 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 pe rcent 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 2018 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, 2018, Using: at December 31, 2018, 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. - - - 1,397 1,397 - - - 2,648 2,648 Non-U.S. - - - 1,218 1,218 57 (2) - - 2,436 2,493 Private equity - - - 516 516 - - - 513 513 Debt securities Corporate - 4,795 (3) - 1 4,796 - 102 (3) - 3,713 3,815 Government - 3,085 (3) - 2 3,087 243 (4) 97 (3) - 9,326 9,666 Asset-backed - - - 1 1 - 28 (3) - 218 246 Cash - - - 111 111 27 3 (5) - 54 84 Total at fair value - 7,880 - 3,246 11,126 327 230 - 18,908 19,465 Insurance contracts at contract value 8 21 Total plan assets 11,134 19,486 (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 asse t-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 s ubject 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, 2018, Using: Net Asset Level 1 Level 2 Level 3 Value (1) Total (millions of dollars) Asset category: Equity securities U.S. - - - 64 64 Non-U.S. - - - 41 41 Debt securities Corporate - 88 (2) - - 88 Government - 189 (2) - - 189 Asset-backed - - - - - Cash - - - 4 4 Total at fair value - 277 - 109 386 (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 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, 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 corporate, government and asset-backe d 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 input. 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 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 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. 2018 2017 2018 2017 (millions of dollars) For funded pension plans with an accumulated benefit obligation in excess of plan assets: Projected benefit obligation 15,738 16,739 4,037 3,384 Accumulated benefit obligation 13,208 14,022 3,671 3,264 Fair value of plan assets 11,134 12,782 3,499 3,219 For unfunded pension plans: Projected benefit obligation 2,436 2,571 6,331 6,915 Accumulated benefit obligation 1,475 1,535 5,670 6,208 Other Pension Benefits Postretirement U.S. Non-U.S. Benefits (millions of dollars) Estimated 2019 amortization from accumulated other comprehensive income: Net actuarial loss/(gain) (1) 510 357 59 Prior service cost (2) 5 48 (42) (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 2019 1,020 680 - - Benefit payments expected in: 2019 1,353 1,113 454 19 2020 1,312 1,111 458 20 2021 1,310 1,127 461 20 2022 1,302 1,138 463 22 2023 1,307 1,156 456 23 2024 - 2028 6,393 5,806 2,259 126 |
Disclosures About Segments And
Disclosures About Segments And Related Information | 12 Months Ended |
Dec. 31, 2018 | |
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 activitie s from which revenues are recognized 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. In 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 $ 84 million in 2018, $ 136 million in 2017 and $ 63 million in 2016. 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, 2018 Earnings after income tax (1) 1,739 12,340 2,962 3,048 1,642 1,709 (2,600) 20,840 Earnings of equity companies included above 608 5,816 156 (6) 48 1,113 (380) 7,355 Sales and other operating revenue 10,359 15,158 74,327 147,007 12,239 20,204 38 279,332 Intersegment revenue 8,683 29,659 21,954 29,888 9,044 7,217 205 - Depreciation and depletion expense 6,024 9,257 684 890 405 606 879 18,745 Interest revenue - - - - - - 64 64 Interest expense 77 31 2 12 - 1 643 766 Income tax expense (benefit) 104 8,149 946 1,008 566 245 (1,486) 9,532 Additions to property, plant and equipment 7,119 7,974 1,152 1,595 1,146 348 717 20,051 Investments in equity companies 4,566 16,337 293 1,162 870 3,431 (277) 26,382 Total assets 90,310 148,914 17,898 34,024 14,904 21,131 19,015 346,196 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 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 (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 2018 2017 2016 (millions of dollars) United States 96,930 82,079 70,126 Non-U.S. 182,402 155,083 130,502 Total 279,332 237,162 200,628 Significant non-U.S. revenue sources include: (1) Canada 22,672 20,116 17,682 United Kingdom 18,702 16,611 15,452 Belgium 15,664 13,633 10,834 Singapore 13,689 11,589 9,919 France 13,637 11,235 9,487 Italy 13,396 11,476 9,715 Germany 9,426 8,484 7,899 (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 . Long-lived assets 2018 2017 2016 (millions of dollars) United States 108,147 105,101 101,194 Non-U.S. 138,954 147,529 143,030 Total 247,101 252,630 244,224 Significant non-U.S. long-lived assets include: Canada 37,433 41,138 40,144 Australia 14,548 16,908 16,510 Singapore 11,148 11,292 9,769 Kazakhstan 9,726 10,121 10,325 Nigeria 8,421 9,734 11,314 Papua New Guinea 8,269 8,463 5,719 Angola 7,021 7,689 8,413 Russia 5,456 5,702 4,828 |
Income And Other Taxes
Income And Other Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Income And Other Taxes [Abstract] | |
Income And Other Taxes | 1 9 . Income and Other Taxes 2018 2017 2016 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 459 9,001 9,460 577 6,633 7,210 (214) 4,056 3,842 Deferred - net 518 (614) (96) (9,075) 754 (8,321) (2,801) (1,422) (4,223) U.S. tax on non-U.S. operations 42 - 42 17 - 17 41 - 41 Total federal and non-U.S. 1,019 8,387 9,406 (8,481) 7,387 (1,094) (2,974) 2,634 (340) State 126 - 126 (80) - (80) (66) - (66) Total income tax expense 1,145 8,387 9,532 (8,561) 7,387 (1,174) (3,040) 2,634 (406) All other taxes and duties Other taxes and duties 3,498 29,165 32,663 3,330 26,774 30,104 3,209 25,811 29,020 Included in production and manufacturing expenses 1,245 857 2,102 1,107 747 1,854 1,052 808 1,860 Included in SG&A expenses 153 312 465 147 354 501 133 362 495 Total other taxes and duties 4,896 30,334 35,230 4,584 27,875 32,459 4,394 26,981 31,375 Total 6,041 38,721 44,762 (3,977) 35,262 31,285 1,354 29,615 30,969 The a bove provisions for d eferred income taxes include a net credit of $ 289 million in 2018 related to changes in tax laws and rates, mainly from a $ 291 million credit related to U.S. tax reform. F or 2017, d eferred income tax expense includes a net credit of $ 5,920 million, 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 for 2016 includes net charges of $ 180 million for the e ffect 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 Accounting Standard Codification Topic 740 (Income Taxes) and following the guidance outlined in the SEC Staff Account ing Bulletin No. 118, the Corporation included a $ 5,942 million credit in its 2017 results, representing a reasonable estimate of the income tax effects of the ch anges in tax law and tax rate. The Corporation’s results for 2018 include a $ 29 1 million tax c redit, mainly in the Non-U.S. Upstream, reflecting an updated estimate of the impact of U.S. tax reform including clarifications provided in proposed transition tax regulations issued by the U.S. Treasury in 2018. The Corporation has completed its accounti ng for the enactment-date income tax effects of the U.S. Tax Cuts and Jobs Act in accordance with Accounting Standard Codification Topic 740 (Income Taxes). The reconciliation between income tax expense and a theoretical U.S. tax computed by applying a rate of 21 percent for 2018 and 35 percent for 2017 and 2016 is as follows: 2018 2017 2016 (millions of dollars) Income before income taxes United States 5,200 (754) (5,832) Non-U.S. 25,753 19,428 13,801 Total 30,953 18,674 7,969 Theoretical tax 6,500 6,536 2,789 Effect of equity method of accounting (1,545) (1,883) (1,682) Non-U.S. taxes in excess of/(less than) theoretical U.S. tax (1) 4,626 1,848 (582) Enactment-date effects of U.S. tax reform (291) (5,942) - Other (2) 242 (1,733) (931) Total income tax expense 9,532 (1,174) (406) Effective tax rate calculation Income taxes 9,532 (1,174) (406) ExxonMobil share of equity company income taxes 3,142 2,228 1,692 Total income taxes 12,674 1,054 1,286 Net income including noncontrolling interests 21,421 19,848 8,375 Total income before taxes 34,095 20,902 9,661 Effective income tax rate 37% 5% 13% (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. Deferred tax liabilities/(assets) are comprised of the following at December 31: Tax effects of temporary differences for: 2018 2017 (millions of dollars) Property, plant and equipment 35,745 36,559 Other liabilities 6,516 5,625 Total deferred tax liabilities 42,261 42,184 Pension and other postretirement benefits (4,115) (4,338) Asset retirement obligations (4,118) (4,237) Tax loss carryforwards (6,321) (6,767) Other assets (5,498) (5,832) Total deferred tax assets (20,052) (21,174) Asset valuation allowances 1,826 2,565 Net deferred tax liabilities 24,035 23,575 In 2018, asset valuation allowances of $1,826 million de creased by $ 739 million , including $ 234 million related to U.S. tax reform and $ 333 million related to a reduction in deferred tax assets. Balance sheet classification 2018 2017 (millions of dollars) Other assets, including intangibles, net (3,209) (3,318) Deferred income tax liabilities 27,244 26,893 Net deferred tax liabilities 24,035 23,575 The Corporation’s undistributed earnings from subsidiary companies outside the United States include amounts that have been retained to fund prior and future capital project expenditures. Deferred income taxes have not been recorded for potential future tax obligations, such as foreign withholding tax and state tax, as these undistributed earnings are expected to be indefinitely reinve sted for the foreseeable future. As of December 31, 2018, it is not practicable to estimate the unrecognized deferred tax liability. However, unrecognized deferred taxes on remittance of these funds are not expected to be material. 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 2018 2017 2016 (millions of dollars) Balance at January 1 8,783 9,468 9,396 Additions based on current year's tax positions 375 522 655 Additions for prior years' tax positions 240 523 534 Reductions for prior years' tax positions (125) (865) (1,019) Reductions due to lapse of the statute of limitations (5) (113) (7) Settlements with tax authorities (68) (782) (70) Foreign exchange effects/other (26) 30 (21) Balance at December 31 9,174 8,783 9,468 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 8 , 201 7 and 201 6 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 perce nt 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 2018 ….. Angola 2017 - 2018 Australia 2008 - 2018 Belgium 2016 - 2018 Canada 2000 - 2018 Equatorial Guinea 2007 - 2018 Indonesia 2007 - 2018 Iraq 2013 - 2018 Malaysia 2009 - 2018 Nigeria 2006 - 2018 Norway 2007 - 2018 Papua New Guinea 2008 - 2018 Russia 2016 - 2018 United Kingdom 2015 - 2018 United States 2006 - 2018 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 $ 3 million, $ 36 million and $ 4 million in interest expense on income tax reserves in 2018, 2017 and 2016, respectively. T he related interest payable balances were $ 169 million and $ 168 million at December 31, 201 8 , and 201 7 , respectively. |
Summary Of Accounting Policies
Summary Of Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2018 | |
Summary Of Accounting Policies [Abstract] | |
Principles of Consolidation and Accounting for Investments | Principles of Consolidation and Accounting for Investments 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 lon g-term receivables” . The Corporation’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 whi ch subsidiaries are consolidated. 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 investments 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 histo ry of operating losses, negative 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 tempor ary 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. Investments in equity securities other than consolidated subs idiaries and equity method investments are measured at fair value with changes in fair value recognized in net income. The Corporation uses the modified approach for equity securities that do not have a readily determinable fair value. This modified approa ch measures investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions in a similar investment of the same issuer. The Corporation’s share of the cumulative foreign exchange translati on adjustment for equity 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 m arket 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 tak en control, which is typically when title transfers and the customer has assumed the risks and rewards of ownership. The prices of certain sales are based on price indices that are sometimes not available until the next period. In such cases, estimated rea lizations are accrued when the sale is recognized, and are finalized when the 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 the end of the period are expected to be fulfilled through ordinary production or purchases. These performance obligations are based on market prices at the time of the transaction and are fully constrained due to market price volatility. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another are combined and recorded as exchanges measured at the book value of the item sold. “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 assets are mainly from marketing assistance programs and are not signif icant. Contract liabilities are mainly customer prepayments and accruals of expected volume discounts and are not significant. |
Income and Other Taxes | Income and Other Taxes T he Corporation excludes from the Consolidated Statement of Income certain sales and value-added taxes imposed on and concurrent with revenue-producing transactions with customers and collected on behalf of governmental authorities. Similar taxes , for which the Corporation is not considered to be an agent for the government , are reported on a gross basis (i ncluded in both “Sales and other operating revenue” and “ Other taxes and duties ”). The Corporation accounts for U.S. tax on global intangible low-taxed income as an income tax expense in the period in which it is incurred. We have elected not to adopt an o ption provided by the Financial Accounting Standards Board Update, Income Statement – Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The option allowed the reclassification from accumula ted other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. |
Derivative Instruments | De rivative Instruments The Corporation may use derivative instruments for trading purposes and to offset exposures associated with commodity prices, foreign currency exchange rates and interest rate s that arise from existing assets, liabilities and forecasted transactions. All derivative instruments are recorded at fair value. Derivative assets and liabilities with the same counterpar ty are netted if the right of offset exists and certain other criteria are met. Collateral payables or receivables are netted against derivative assets and derivative liabilities, respectively. Recognition and classification of the gain or loss that results from adjusting a derivative to fair value depends on the purpose for the derivative. All gains and losses from derivative instruments for which the Corporation does not apply hedge accounting are immediately recognized in earnings. We may designate derivatives as fair value or cash flow hedges. For fair value hedges, the gain or loss from derivative instruments and the offsetting gain or loss from the hedged item are recognized in earnings . For cash flow hedges, the effective portion of the gain or loss from the derivative instrument is initially reported as a component of other comprehensive income and subsequently reclassified into earnings in the period that the forecasted transaction affects earnings, and the ineffective portion of the gain or lo ss from the derivative instrument 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 liability. 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 o f current market value or cost (generally determined under the last-in, first-out method – LIFO). Inventory costs include expenditures and other charges (including depreciation) directly and indirectly incurred in bringing the inventory to its existing con dition and location. Selling expenses and general and administrative expenses are reported 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 Co rporation 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 unprove d 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 asses sing the reserves and the economic and operating viability of the project. Exploratory well costs not meeting these criteria are charged to expense. Other exploratory expenditures, including geophysical costs and annual lease rentals, are expensed as incur red. Development costs, including costs of productive wells and development dry holes, 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 productive 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-production method does not result in an equitable allocation of cost over the economic life of an upstream asset, an alternative method is used. The s traight-line method is used in limited situations where the expected life of the asset does not reasonably correlate 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 th e reserves, and as such, the Corporation use s straight-line depreciation to ensure the asset is fully depreciated 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 pr oduce 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 changes. 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 life. 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 recoverability on an ongoing basis whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. Among the ev ents or changes in circumstances which could indicate that the carrying value of an asset or asset group may not be recoverable 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, includin g 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 curre nt 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 p rofitability reviews assist the Corporation in assessing whether events or changes in circumstances indicate the carrying amounts 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 c ontinue 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 e fficiency advancements. OPEC investment activities and production policies also have an impact on world oil supplies. The demand 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 views 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 val ue of an asset may not be recoverable, the Corporation considers recent periods of operating losses in the context of its longer-term view of prices. While near-term prices are subject to wide fluctuations, longer-term price views are more stable and meani ngful 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 oil price, natural gas price or margin ranges, the Corporation may consider that situation, in conjunction with other events or chang es 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 discrete points in time and could be higher or lower than the Corporation’s long-term price assumptions which are used for impairment ass essments. 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 an impairment assessment. If events or changes in 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 Corporation’s assumptions which are developed in the annual planning and budgeting process, and are consistent with the cri teria management uses to evaluate investment opportunities. These evaluations make use of the Corporation’s assumptions of future capital allocations, crude oil and natural gas commodity prices, refining and chemical margins, volumes, costs, and foreign cu rrency exchange rates. Volumes are based on projected field and facility production profiles, throughput, or sales. Where unproved reserves exist, an appropriately risk-adjusted amount of these reserves may be included in the evaluation. Cash flow estimate s for impairment testing exclude the effects of derivative instruments. An asset group is impaired if its estimated undiscounted cash flows 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 discount rate commensurate with the risk. Significant unproved properties are assessed for impairment individually, and valua tion 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 grou ps 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 properties 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 the 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 equipment and are depreciated over the service life of the related assets. |
Asset Retirement Obligations and Environmental Liabilities | Asset Retirement Obligations and Environment al 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 thes e 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 inc urred and the amounts can be reasonably estimated. These liabilities are not reduced by possible recoveries from third parties , and projected cash expenditures are not discounted. |
Foreign Currency Translation | Fo reign Currency Translation The Corporation selects the functional report ing currency for its international subsidiaries based on the currency of the primary economic environment in which each subsidiary operates. 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 market. 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. F or all operations, gains or losses from remeasuring foreign currency transactions into the functional currency are included in income. |
Stock-Based Payments | 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 . |
Accounting Changes (Tables)
Accounting Changes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
New Accounting Pronouncements And Changes In Accounting Principles [Abstract] | |
Accounting Changes | 2017 2016 As Reported Change As Adjusted As Reported Change As Adjusted (millions of dollars) Production and manufacturing expenses 34,128 (1,438) 32,690 31,927 (1,479) 30,448 Selling, general and administrative expenses 10,956 (307) 10,649 10,799 (356) 10,443 Non-service pension and postretirement benefit expense - 1,745 1,745 - 1,835 1,835 |
Miscellaneous Financial Infor_2
Miscellaneous Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Miscellaneous Financial Information [Abstract] | |
Crude Oil, Products And Merchandise | 2018 2017 (millions of dollars) Crude oil 4,783 4,635 Petroleum products 5,666 4,333 Chemical products 3,821 3,283 Gas/other 533 620 Total 14,803 12,871 |
Other Comprehensive Income In_2
Other Comprehensive Income Information (Tables) | 12 Months Ended |
Dec. 31, 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, 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) Current period change excluding amounts reclassified from accumulated other comprehensive income (4,595) 201 (4,394) Amounts reclassified from accumulated other comprehensive income 196 896 1,092 Total change in accumulated other comprehensive income (4,399) 1,097 (3,302) Balance as of December 31, 2018 (13,881) (5,683) (19,564) |
Reclassification Out Of Accumulated Other Comprehensive Income | Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) 2018 2017 2016 (millions of dollars) Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) (196) (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) (1,208) (1,656) (1,531) |
Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income | Income Tax (Expense)/Credit For Components of Other Comprehensive Income 2018 2017 2016 (millions of dollars) Foreign exchange translation adjustment 32 67 43 Postretirement benefits reserves adjustment (excluding amortization) (193) 201 (247) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (277) (491) (445) Total (438) (223) (649) |
Cash Flow Information (Tables)
Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Cash Flow Information [Abstract] | |
Cash payments for interest and income taxes | 2018 2017 2016 (millions of dollars) Cash payments for interest 955 1,132 818 Cash payments for income taxes 9,294 7,510 4,214 |
Additional Working Capital In_2
Additional Working Capital Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Additional Working Capital Information [Abstract] | |
Schedule Of Notes, Accounts Receivable And Payable, Loans Payable, And Accrued Liabilities | Dec. 31 Dec. 31 2018 2017 (millions of dollars) Notes and accounts receivable Trade, less reserves of $61 million and $72 million 19,638 21,274 Other, less reserves of $339 million and $539 million 5,063 4,323 Total 24,701 25,597 Notes and loans payable Bank loans 325 115 Commercial paper 12,863 13,049 Long-term debt due within one year 4,070 4,766 Total 17,258 17,930 Accounts payable and accrued liabilities Trade payables 21,063 21,701 Payables to equity companies 6,863 5,453 Accrued taxes other than income taxes 3,280 3,311 Other 6,062 6,331 Total 37,268 36,796 |
Equity Company Information (Tab
Equity Company Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Equity Company Information [Abstract] | |
Schedule Of Equity Company Financial Summary | 2018 2017 2016 Equity Company ExxonMobil ExxonMobil ExxonMobil Financial Summary Total Share Total Share Total Share (millions of dollars) Total revenues 112,938 34,539 94,791 29,340 80,247 24,668 Income before income taxes 37,203 10,482 29,748 8,498 22,269 6,509 Income taxes 11,568 3,151 8,421 2,236 6,334 1,701 Income from equity affiliates 25,635 7,331 21,327 6,262 15,935 4,808 Current assets 38,670 13,394 35,367 12,050 34,412 11,392 Long-term assets 128,830 35,970 122,221 34,931 109,646 32,357 Total assets 167,500 49,364 157,588 46,981 144,058 43,749 Current liabilities 27,324 7,606 21,725 6,348 20,507 5,765 Long-term liabilities 56,913 17,109 59,736 17,056 62,110 17,288 Net assets 83,263 24,649 76,127 23,577 61,441 20,696 |
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 Caspian Pipeline Consortium - Kazakhstan 8 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 10 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 Gulf Coast Growth Ventures LLC 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 Lon_2
Investments, Advances And Long-Term Receivables (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Investments, Advances And Long-Term Receivables [Abstract] | |
Schedule Of Investments, Advances And Long-Term Receivables | Dec. 31, Dec. 31, 2018 2017 (millions of dollars) Equity method company investments and advances Investments 26,382 24,354 Advances 8,608 9,112 Total equity method company investments and advances 34,990 33,466 Equity securities carried at fair value and other investments at adjusted cost basis (1) 210 174 Long-term receivables and miscellaneous, net of reserves of $ 5,471 million and $5,432 million 5,590 5,520 Total 40,790 39,160 (1) 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 portion of unrealized gains and losses recognized during the reporting period on equity securities still held at December 31, 2018, and the carrying value of equity securities without readily determinable fair values at December 31, 2018, were not significant to the Corporation. |
Property, Plant And Equipment_2
Property, Plant And Equipment And Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Property, Plant And Equipment And Asset Retirement Obligations [Abstract] | |
Property, Plant And Equipment | December 31, 2018 December 31, 2017 Property, Plant and Equipment Cost Net Cost Net (millions of dollars) Upstream 372,791 194,662 371,904 200,291 Downstream 48,241 21,448 50,343 21,732 Chemical 39,008 20,551 37,966 20,117 Other 17,150 10,440 16,972 10,490 Total 477,190 247,101 477,185 252,630 |
Asset Retirement Obligations | 2018 2017 (millions of dollars) Beginning balance 12,705 13,243 Accretion expense and other provisions 681 780 Reduction due to property sales (333) (906) Payments made (600) (730) Liabilities incurred 46 128 Foreign currency translation (481) 611 Revisions 85 (421) Ending balance 12,103 12,705 |
Accounting For Suspended Expl_2
Accounting For Suspended Exploratory Well Costs (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting For Suspended Exploratory Well Costs [Abstract] | |
Change In Capitalized Suspended Exploratory Well Costs | 2018 2017 2016 (millions of dollars) Balance beginning at January 1 3,700 4,477 4,372 Additions pending the determination of proved reserves 564 906 180 Charged to expense (7) (1,205) (111) Reclassifications to wells, facilities and equipment based on the determination of proved reserves (48) (497) - Divestments/Other (49) 19 36 Ending balance at December 31 4,160 3,700 4,477 Ending balance attributed to equity companies included above 306 306 707 |
Period End Capitalized Suspended Exploratory Well Costs | 2018 2017 2016 (millions of dollars) Capitalized for a period of one year or less 564 906 180 Capitalized for a period of between one and five years 2,028 1,345 2,981 Capitalized for a period of between five and ten years 1,150 1,064 911 Capitalized for a period of greater than ten years 418 385 405 Capitalized for a period greater than one year - subtotal 3,596 2,794 4,297 Total 4,160 3,700 4,477 |
Number Of Projects With Suspended Exploratory Well Costs | 2018 2017 2016 Number of projects that only have exploratory well costs capitalized for a period of one year or less 6 11 2 Number of projects that have exploratory well costs capitalized for a period of greater than one year 52 46 58 Total 58 57 60 |
Additional Detail For Projects With Completed Exploratory Activity Progressing Toward Development | Years Wells Dec. 31, Drilled / Country/Project 2018 Acquired 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 Argentina - La Invernada 72 2014 Evaluating development plan to tie into planned infrastructure. Australia - East Pilchard 7 2001 Gas field near Kipper/Tuna development, awaiting capacity in existing/ planned infrastructure. - Gorgon Area Ullage 318 1994 - 2015 Evaluating development plans to tie into existing LNG facilities. - SE Longtom 11 2010 Gas field near Tuna development, awaiting capacity in existing/planned infrastructure. - SE Remora 33 2010 Gas field near Marlin development, awaiting capacity in existing/planned infrastructure. Guyana - Liza Phase 2 37 2017 Continuing development plan discussions with the government. 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/progressing development alternatives, while continuing discussions with the government regarding development plan. Mozambique - Rovuma LNG Future 120 2017 Evaluating/progressing development plan to tie into planned LNG facilities. Non-Straddling Train - Rovuma LNG Phase 1 150 2017 Progressing development plan to tie into planned LNG facilities. - Rovuma LNG Unitized 35 2017 Evaluating/progressing development plan to tie into planned LNG facilities. Trains Nigeria - Bolia 15 2002 - 2006 Evaluating development plan, while continuing discussions with the government regarding regional hub strategy. - Bonga North 34 2004 - 2009 Evaluating/progressing development plan for tieback to existing/planned infrastructure. - 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 SS 13 2015 Evaluating development plan for tieback to existing production facilities. - OML 138 Ukot SW 41 2014 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 (4 projects) 10 2001 - 2002 Evaluating and pursuing development of several additional discoveries. Years Wells Dec. 31, Drilled / Country/Project 2018 Acquired Comment (millions of dollars) Norway - Gamma 13 2008 - 2009 Evaluating development plan for tieback to existing production facilities. - Lavrans 15 1995 - 1999 Evaluating development plan, awaiting capacity in existing Kristin production facility. - Other (6 projects) 23 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. - Papua LNG 246 2017 Evaluating/progressing development plans. 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 Evaluating/progressing development plans. Total 2018 (40 projects) 2,543 |
Leased Facilities (Tables)
Leased Facilities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Leased Facilities [Abstract] | |
Leased Facilities | Lease Payments Under Minimum Commitments Drilling Rigs and Related Equipment Other Total (millions of dollars) 2019 222 934 1,156 2020 166 819 985 2021 107 658 765 2022 43 506 549 2023 32 422 454 2024 and beyond 53 2,150 2,203 Total 623 5,489 6,112 |
Net Rental Cost | 2018 2017 2016 (millions of dollars) Rental cost Drilling rigs and related equipment 723 792 1,274 Other (net of sublease rental income) 1,992 1,826 1,817 Total 2,715 2,618 3,091 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Computation | Earnings per common share 2018 2017 2016 Net income attributable to ExxonMobil (millions of dollars) 20,840 19,710 7,840 Weighted average number of common shares outstanding (millions of shares) 4,270 4,256 4,177 Earnings per common share (dollars) (1) 4.88 4.63 1.88 Dividends paid per common share (dollars) 3.23 3.06 2.98 (1) The earnings per common share and earnings per common share - assuming dilution are the same in each period shown . |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | At December 31, 2018 (millions of dollars) Fair Value Level 1 Level 2 Level 3 Total Gross Assets & Liabilities Effect of Counterparty Netting Effect of Collateral Netting Difference in Carrying Value and Fair Value Net Carrying Value Presented on the Balance Sheet Assets Derivative assets (1) 297 - - 297 (151) (146) - - Advances to/receivables from equity companies (2)(7) - 2,100 6,293 8,393 - - 215 8,608 Other long-term financial assets (3) 848 - 974 1,822 - - 112 1,934 Liabilities Derivative liabilities (4) 151 - - 151 (151) - - - Long-term debt (5) 19,029 117 4 19,150 - - 85 19,235 Long-term obligations to equity companies (7) - - 4,330 4,330 - - 52 4,382 Other long-term financial liabilities (6) - - 1,046 1,046 - - (3) 1,043 (1) Included in the Balance Sheet line: Notes and accounts receivable, less estimated doubtful amounts (2) Included in the Balance Sheet line: Investments, advances and long-term receivables (3) Included in the Balance Sheet lines: Investments, advances and long-term receivables and Other assets, including intangibles, net (4) Included in the Balance Sheet line: Accounts payable and accrued liabilities (5) Excluding capitalized lease obligations (6) Included in the Balance Sheet line: Other long-term obligations (7) Advances to/receivables from equity companies and long-term obligations to equity companies are mainly designated as hierarchy level 3 inputs. The fair value is calculated by discounting the remaining obligations by a rate consistent with the credit quality and industry of the equity company. |
Derivative Instruments - Before-Tax Realized and Unrealized Gains / (Losses) | 2018 2017 2016 (millions of dollars) Sales and other operating revenue 130 6 (12) Crude oil and product purchases (120) (105) (69) Total 10 (99) (81) |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Long-Term Debt [Abstract] | |
Summarized Long-Term Debt | Average Rate (1) 2018 2017 (millions of dollars) Exxon Mobil Corporation 1.819% notes due 2019 - 1,750 1.708% notes due 2019 - 1,250 Floating-rate notes due 2019 (Issued 2014) - 500 Floating-rate notes due 2019 (Issued 2016) - 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 2.502% 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) 6.100% senior notes due 2036 195 195 6.750% senior notes due 2037 299 302 6.375% senior notes due 2038 230 232 Mobil Corporation 8.625% debentures due 2021 250 250 Industrial revenue bonds due 2019-2051 1.334% 2,513 2,559 Other U.S. dollar obligations 102 162 Other foreign currency obligations 38 34 Capitalized lease obligations 9.440% 1,303 1,327 Debt issuance costs (42) (55) Total long-term debt 20,538 24,406 (1) Average effect ive interest rate for debt and average imputed interest rate for capitalized leases at December 31, 2018. (2) Includes premiums of $ 97 million in 2018 and $ 102 million in 2017 . |
Incentive Program (Tables)
Incentive Program (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Incentive Program [Abstract] | |
Summary Of Restricted Stock And Units Outstanding | 2018 Weighted Average Grant-Date Restricted stock and units outstanding Shares Fair Value per Share (thousands) (dollars) Issued and outstanding at January 1 41,078 86.34 2017 award issued in 2018 8,910 81.89 Vested (9,347) 81.14 Forfeited (260) 85.72 Issued and outstanding at December 31 40,381 86.56 |
Grant Value Of Restricted Stock Units | Value of restricted stock units 2018 2017 2016 Grant price (dollars) 77.66 81.89 87.70 Value at date of grant: (millions of dollars) Units settled in stock 620 667 771 Units settled in cash 61 63 69 Total value 681 730 840 |
Litigation And Other Continge_2
Litigation And Other Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Litigation And Other Contingencies [Abstract] | |
Schedule Of Guarantees | December 31, 2018 Equity Company Other Third-Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 537 71 608 Other 850 4,380 5,230 Total 1,387 4,451 5,838 (1) ExxonMobil share. |
Pension And Other Postretirem_2
Pension And Other Postretirement Benefits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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 2018 2017 2018 2017 2018 2017 (percent) Weighted-average assumptions used to determine benefit obligations at December 31 Discount rate 4.40 3.80 3.00 2.80 4.40 3.80 Long-term rate of compensation increase 5.75 5.75 4.30 4.30 5.75 5.75 (millions of dollars) Change in benefit obligation Benefit obligation at January 1 19,310 19,960 27,963 25,196 8,100 7,800 Service cost 819 784 608 596 152 129 Interest cost 721 798 754 772 301 317 Actuarial loss/(gain) (957) 733 (1,034) 250 (630) 231 Benefits paid (1) (2) (1,715) (2,964) (1,284) (1,291) (528) (543) Foreign exchange rate changes - - (1,664) 2,484 (49) 40 Amendments, divestments and other (4) (1) 35 (44) 125 126 Benefit obligation at December 31 18,174 19,310 25,378 27,963 7,471 8,100 Accumulated benefit obligation at December 31 14,683 15,557 23,350 25,557 - - (1) Benefit payments for funded and unfunded plans. (2) For 201 8 and 201 7 , other postretirement benefits paid are net of $13 million and $16 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 2018 2017 2018 2017 2018 2017 (millions of dollars) Change in plan assets Fair value at January 1 12,782 12,793 21,461 19,043 427 411 Actual return on plan assets (710) 1,831 (15) 1,442 (13) 40 Foreign exchange rate changes - - (1,320) 1,776 - - Company contribution 491 619 438 440 30 34 Benefits paid (1) (1,429) (2,461) (903) (902) (58) (58) Other - - (175) (338) - - Fair value at December 31 11,134 12,782 19,486 21,461 386 427 (1) Benefit payments for funded plans. |
Summary Of Assets In Excess Of/(Less Than) Benefit Obligation | Pension Benefits U.S. Non-U.S. 2018 2017 2018 2017 (millions of dollars) Assets in excess of/(less than) benefit obligation Balance at December 31 Funded plans (4,604) (3,957) 439 413 Unfunded plans (2,436) (2,571) (6,331) (6,915) Total (7,040) (6,528) (5,892) (6,502) |
Amounts Recorded In Balance Sheet And Other Comprehensive Income | Pension Benefits Other Postretirement U.S. Non-U.S. Benefits 2018 2017 2018 2017 2018 2017 (millions of dollars) Assets in excess of/(less than) benefit obligation Balance at December 31 (1) (7,040) (6,528) (5,892) (6,502) (7,085) (7,673) Amounts recorded in the consolidated balance sheet consist of: Other assets - - 1,174 1,403 - - Current liabilities (243) (276) (314) (338) (362) (360) Postretirement benefits reserves (6,797) (6,252) (6,752) (7,567) (6,723) (7,313) Total recorded (7,040) (6,528) (5,892) (6,502) (7,085) (7,673) Amounts recorded in accumulated other comprehensive income consist of: Net actuarial loss/(gain) 3,831 3,982 4,713 5,586 877 1,595 Prior service cost 6 11 (93) (143) (357) (397) Total recorded in accumulated other comprehensive income 3,837 3,993 4,620 5,443 520 1,198 (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 2018 2017 2016 2018 2017 2016 2018 2017 2016 Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31 (percent) Discount rate 3.80 4.25 4.25 2.80 3.00 3.60 3.80 4.25 4.25 Long-term rate of return on funded assets 6.00 6.50 6.50 4.70 5.20 5.25 6.00 6.50 6.50 Long-term rate of compensation increase 5.75 5.75 5.75 4.30 4.00 4.80 5.75 5.75 5.75 Components of net periodic benefit cost (millions of dollars) Service cost 819 784 810 608 596 585 152 129 153 Interest cost 721 798 793 754 772 844 301 317 344 Expected return on plan assets (727) (775) (726) (951) (1,000) (927) (23) (24) (25) Amortization of actuarial loss/(gain) 362 438 492 409 476 536 116 96 153 Amortization of prior service cost 5 5 6 46 47 54 (40) (33) (30) Net pension enhancement and curtailment/settlement cost 268 609 319 44 19 2 - - - Net periodic benefit cost 1,448 1,859 1,694 910 910 1,094 506 485 595 Changes in amounts recorded in accumulated other comprehensive income: Net actuarial loss/(gain) 479 (324) 27 (66) (191) (156) (594) 215 (555) Amortization of actuarial (loss)/gain (630) (1,047) (811) (453) (495) (538) (116) (96) (153) Prior service cost/(credit) - - - 98 111 32 - - - Amortization of prior service (cost)/credit (5) (5) (6) (46) (47) (54) 40 33 30 Foreign exchange rate changes - - - (356) 559 (108) (8) 8 5 Total recorded in other comprehensive income (156) (1,376) (790) (823) (63) (824) (678) 160 (673) Total recorded in net periodic benefit cost and other comprehensive income, before tax 1,292 483 904 87 847 270 (172) 645 (78) |
Summary Of Change In Accumulated Other Comprehensive Income | Total Pension and Other Postretirement Benefits 2018 2017 2016 (millions of dollars) (Charge)/credit to other comprehensive income, before tax U.S. pension 156 1,376 790 Non-U.S. pension 823 63 824 Other postretirement benefits 678 (160) 673 Total (charge)/credit to other comprehensive income, before tax 1,657 1,279 2,287 (Charge)/credit to income tax (see Note 4) (470) (290) (692) (Charge)/credit to investment in equity companies 24 (43) (16) (Charge)/credit to other comprehensive income including noncontrolling interests, after tax 1,211 946 1,579 Charge/(credit) to equity of noncontrolling interests (114) 12 24 (Charge)/credit to other comprehensive income attributable to ExxonMobil 1,097 958 1,603 |
Fair Value Of The Benefit Plan Assets (Pension) | U.S. Pension Non-U.S. Pension Fair Value Measurement Fair Value Measurement at December 31, 2018, Using: at December 31, 2018, 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. - - - 1,397 1,397 - - - 2,648 2,648 Non-U.S. - - - 1,218 1,218 57 (2) - - 2,436 2,493 Private equity - - - 516 516 - - - 513 513 Debt securities Corporate - 4,795 (3) - 1 4,796 - 102 (3) - 3,713 3,815 Government - 3,085 (3) - 2 3,087 243 (4) 97 (3) - 9,326 9,666 Asset-backed - - - 1 1 - 28 (3) - 218 246 Cash - - - 111 111 27 3 (5) - 54 84 Total at fair value - 7,880 - 3,246 11,126 327 230 - 18,908 19,465 Insurance contracts at contract value 8 21 Total plan assets 11,134 19,486 (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 asse t-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 s ubject 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, 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, 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 corporate, government and asset-backe d 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 input. |
Fair Value Of The Benefit Plan Assets (Other Postretirement) | Other Postretirement Fair Value Measurement at December 31, 2018, Using: Net Asset Level 1 Level 2 Level 3 Value (1) Total (millions of dollars) Asset category: Equity securities U.S. - - - 64 64 Non-U.S. - - - 41 41 Debt securities Corporate - 88 (2) - - 88 Government - 189 (2) - - 189 Asset-backed - - - - - Cash - - - 4 4 Total at fair value - 277 - 109 386 (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, 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 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 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. 2018 2017 2018 2017 (millions of dollars) For funded pension plans with an accumulated benefit obligation in excess of plan assets: Projected benefit obligation 15,738 16,739 4,037 3,384 Accumulated benefit obligation 13,208 14,022 3,671 3,264 Fair value of plan assets 11,134 12,782 3,499 3,219 For unfunded pension plans: Projected benefit obligation 2,436 2,571 6,331 6,915 Accumulated benefit obligation 1,475 1,535 5,670 6,208 |
Estimated Next Year Amortization | Other Pension Benefits Postretirement U.S. Non-U.S. Benefits (millions of dollars) Estimated 2019 amortization from accumulated other comprehensive income: Net actuarial loss/(gain) (1) 510 357 59 Prior service cost (2) 5 48 (42) (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 2019 1,020 680 - - Benefit payments expected in: 2019 1,353 1,113 454 19 2020 1,312 1,111 458 20 2021 1,310 1,127 461 20 2022 1,302 1,138 463 22 2023 1,307 1,156 456 23 2024 - 2028 6,393 5,806 2,259 126 |
Disclosures About Segments An_2
Disclosures About Segments And Related Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
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, 2018 Earnings after income tax (1) 1,739 12,340 2,962 3,048 1,642 1,709 (2,600) 20,840 Earnings of equity companies included above 608 5,816 156 (6) 48 1,113 (380) 7,355 Sales and other operating revenue 10,359 15,158 74,327 147,007 12,239 20,204 38 279,332 Intersegment revenue 8,683 29,659 21,954 29,888 9,044 7,217 205 - Depreciation and depletion expense 6,024 9,257 684 890 405 606 879 18,745 Interest revenue - - - - - - 64 64 Interest expense 77 31 2 12 - 1 643 766 Income tax expense (benefit) 104 8,149 946 1,008 566 245 (1,486) 9,532 Additions to property, plant and equipment 7,119 7,974 1,152 1,595 1,146 348 717 20,051 Investments in equity companies 4,566 16,337 293 1,162 870 3,431 (277) 26,382 Total assets 90,310 148,914 17,898 34,024 14,904 21,131 19,015 346,196 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 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 (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 Sales and other operating revenue 2018 2017 2016 (millions of dollars) United States 96,930 82,079 70,126 Non-U.S. 182,402 155,083 130,502 Total 279,332 237,162 200,628 Significant non-U.S. revenue sources include: (1) Canada 22,672 20,116 17,682 United Kingdom 18,702 16,611 15,452 Belgium 15,664 13,633 10,834 Singapore 13,689 11,589 9,919 France 13,637 11,235 9,487 Italy 13,396 11,476 9,715 Germany 9,426 8,484 7,899 (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 . |
Schedule Of Long-Lived Assets By Geographic Regions | Long-lived assets 2018 2017 2016 (millions of dollars) United States 108,147 105,101 101,194 Non-U.S. 138,954 147,529 143,030 Total 247,101 252,630 244,224 Significant non-U.S. long-lived assets include: Canada 37,433 41,138 40,144 Australia 14,548 16,908 16,510 Singapore 11,148 11,292 9,769 Kazakhstan 9,726 10,121 10,325 Nigeria 8,421 9,734 11,314 Papua New Guinea 8,269 8,463 5,719 Angola 7,021 7,689 8,413 Russia 5,456 5,702 4,828 |
Income And Other Taxes (Tables)
Income And Other Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Income And Other Taxes [Abstract] | |
Schedule Of Income And Other Taxes | 2018 2017 2016 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 459 9,001 9,460 577 6,633 7,210 (214) 4,056 3,842 Deferred - net 518 (614) (96) (9,075) 754 (8,321) (2,801) (1,422) (4,223) U.S. tax on non-U.S. operations 42 - 42 17 - 17 41 - 41 Total federal and non-U.S. 1,019 8,387 9,406 (8,481) 7,387 (1,094) (2,974) 2,634 (340) State 126 - 126 (80) - (80) (66) - (66) Total income tax expense 1,145 8,387 9,532 (8,561) 7,387 (1,174) (3,040) 2,634 (406) All other taxes and duties Other taxes and duties 3,498 29,165 32,663 3,330 26,774 30,104 3,209 25,811 29,020 Included in production and manufacturing expenses 1,245 857 2,102 1,107 747 1,854 1,052 808 1,860 Included in SG&A expenses 153 312 465 147 354 501 133 362 495 Total other taxes and duties 4,896 30,334 35,230 4,584 27,875 32,459 4,394 26,981 31,375 Total 6,041 38,721 44,762 (3,977) 35,262 31,285 1,354 29,615 30,969 |
Reconciliation Between Income Tax Expense And A Theoretical U.S. Tax | 2018 2017 2016 (millions of dollars) Income before income taxes United States 5,200 (754) (5,832) Non-U.S. 25,753 19,428 13,801 Total 30,953 18,674 7,969 Theoretical tax 6,500 6,536 2,789 Effect of equity method of accounting (1,545) (1,883) (1,682) Non-U.S. taxes in excess of/(less than) theoretical U.S. tax (1) 4,626 1,848 (582) Enactment-date effects of U.S. tax reform (291) (5,942) - Other (2) 242 (1,733) (931) Total income tax expense 9,532 (1,174) (406) Effective tax rate calculation Income taxes 9,532 (1,174) (406) ExxonMobil share of equity company income taxes 3,142 2,228 1,692 Total income taxes 12,674 1,054 1,286 Net income including noncontrolling interests 21,421 19,848 8,375 Total income before taxes 34,095 20,902 9,661 Effective income tax rate 37% 5% 13% (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 $176 million. |
Deferred Tax Liabilities/(Assets) | Tax effects of temporary differences for: 2018 2017 (millions of dollars) Property, plant and equipment 35,745 36,559 Other liabilities 6,516 5,625 Total deferred tax liabilities 42,261 42,184 Pension and other postretirement benefits (4,115) (4,338) Asset retirement obligations (4,118) (4,237) Tax loss carryforwards (6,321) (6,767) Other assets (5,498) (5,832) Total deferred tax assets (20,052) (21,174) Asset valuation allowances 1,826 2,565 Net deferred tax liabilities 24,035 23,575 |
Deferred Income Tax (Assets) And Liabilities By Balance Sheet Classification | Balance sheet classification 2018 2017 (millions of dollars) Other assets, including intangibles, net (3,209) (3,318) Deferred income tax liabilities 27,244 26,893 Net deferred tax liabilities 24,035 23,575 |
Unrecognized Tax Benefits | Gross unrecognized tax benefits 2018 2017 2016 (millions of dollars) Balance at January 1 8,783 9,468 9,396 Additions based on current year's tax positions 375 522 655 Additions for prior years' tax positions 240 523 534 Reductions for prior years' tax positions (125) (865) (1,019) Reductions due to lapse of the statute of limitations (5) (113) (7) Settlements with tax authorities (68) (782) (70) Foreign exchange effects/other (26) 30 (21) Balance at December 31 9,174 8,783 9,468 |
Remaining Tax Years Subject To Examination By Major Tax Jurisdiction | Country of Operation Open Tax Years Abu Dhabi 2018 ….. Angola 2017 - 2018 Australia 2008 - 2018 Belgium 2016 - 2018 Canada 2000 - 2018 Equatorial Guinea 2007 - 2018 Indonesia 2007 - 2018 Iraq 2013 - 2018 Malaysia 2009 - 2018 Nigeria 2006 - 2018 Norway 2007 - 2018 Papua New Guinea 2008 - 2018 Russia 2016 - 2018 United Kingdom 2015 - 2018 United States 2006 - 2018 |
Accounting Changes (Details)
Accounting Changes (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jan. 01, 2019 | |
New Accounting Pronouncements And Changes In Accounting Principles [Abstract] | ||||
Estimated operating lease liability | $ 3,300 | |||
Estimated operating lease right of use asset | 4,300 | |||
Estimated prepaid leases | $ 1,000 | |||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||
Production and manufacturing expenses | $ 36,682 | $ 32,690 | $ 30,448 | |
Selling, general and administrative expenses | 11,480 | 10,649 | 10,443 | |
Non-service pension and postretirement benefit expense | 1,285 | 1,745 | 1,835 | |
After-tax impact of change in non-service cost allocation on Corporate and financing segment | 450 | |||
Cumulative effect of Financial Instruments accounting change | $ 47 | |||
Previously Reported [Member] | ||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||
Production and manufacturing expenses | 34,128 | 31,927 | ||
Selling, general and administrative expenses | 10,956 | 10,799 | ||
Restatement Adjustment [Member] | ||||
Error Corrections And Prior Period Adjustments Restatement [Line Items] | ||||
Production and manufacturing expenses | (1,438) | (1,479) | ||
Selling, general and administrative expenses | (307) | (356) | ||
Non-service pension and postretirement benefit expense | $ 1,745 | $ 1,835 |
Miscellaneous Financial Infor_3
Miscellaneous Financial Information (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Miscellaneous Financial Information [Abstract] | |||
Research and development expense | $ 1,116 | $ 1,063 | $ 1,058 |
Foreign currency transaction gain/(loss), before tax | (138) | 6 | 29 |
Gains/(losses) on combined effects of LIFO inventory accumulations and draw-downs | 107 | (10) | $ (295) |
Aggregate replacement cost of inventories estimated to exceed LIFO carrying values | $ 8,200 | $ 10,800 |
Miscellaneous Financial Infor_4
Miscellaneous Financial Information (Crude Oil, Products And Merchandise) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Miscellaneous Financial Information [Abstract] | ||
Crude oil | $ 4,783 | $ 4,635 |
Petroleum products | 5,666 | 4,333 |
Chemical products | 3,821 | 3,283 |
Gas / other | 533 | 620 |
Total | $ 14,803 | $ 12,871 |
Other Comprehensive Income In_3
Other Comprehensive Income Information (Schedule of Accumulated Other Comprehensive Income Information) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
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 | $ (5,077) | $ 5,352 | $ (174) |
Amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 196 | 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 | 280 | (219) | 493 |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 931 | 1,165 | 1,086 |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | |||
Beginning Balance, Total | (16,262) | ||
Ending Balance, Total | (19,564) | (16,262) | |
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) | (14,170) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | (4,595) | 4,879 | (331) |
Amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 196 | 140 | |
Total change in accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | (4,399) | 5,019 | (331) |
Ending Balance, Cumulative Foreign Exchange Translation Adjustment | (13,881) | (9,482) | (14,501) |
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease [Abstract] | |||
Beginning Balance, Postretirement Benefits Reserves Adjustment | (6,780) | (7,738) | (9,341) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 201 | (170) | 552 |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 896 | 1,128 | 1,051 |
Total change in accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 1,097 | 958 | 1,603 |
Ending Balance, Postretirement Benefits Reserves Adjustment | (5,683) | (6,780) | (7,738) |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | |||
Beginning Balance, Total | (16,262) | (22,239) | (23,511) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Total | (4,394) | 4,709 | 221 |
Amounts reclassified from accumulated other comprehensive income, Total | 1,092 | 1,268 | 1,051 |
Total change in accumulated other comprehensive income | (3,302) | 5,977 | 1,272 |
Ending Balance, Total | $ (19,564) | $ (16,262) | $ (22,239) |
Other Comprehensive Income In_4
Other Comprehensive Income Information (Amounts Reclassified Out Of Acc Other Comp Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Comprehensive Income Information Before Tax [Abstract] | |||
Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) | $ (196) | $ (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) | $ (1,208) | $ (1,656) | $ (1,531) |
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 | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Other Comprehensive Income Information Tax [Abstract] | |||
Foreign exchange translation adjustment | $ 32 | $ 67 | $ 43 |
Postretirement benefits reserves adjustment (excluding amortization) | (193) | 201 | (247) |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | (277) | (491) | (445) |
Total | $ (438) | $ (223) | $ (649) |
Cash Flow Information (Cash Pay
Cash Flow Information (Cash Payments For Interest And Income Taxes) (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash Flow Information [Abstract] | |||
Cash payments for interest | $ 955 | $ 1,132 | $ 818 |
Cash payments for income taxes | 9,294 | 7,510 | 4,214 |
InterOil Corporation [Member] | |||
Total purchase price | 2,700 | ||
Bass Family Permian Basin Resources [Member] | |||
Total purchase price | 6,200 | ||
InterOil Corporation Permian Basin And Other Assets [Member] | |||
Consideration transferred equity interests issued and issuable | $ 7,800 | ||
Equity interests issued or issuable, number of shares | 96 | ||
Maturity Greater Than Three Months [Member] | |||
Net cash flow from issuance/(repayment) of commercial paper | 275 | $ (121) | 608 |
Proceeds from issuance of commercial paper | 4,000 | 3,600 | 3,900 |
Repayments of commercial paper | $ 3,800 | $ 3,700 | $ 3,300 |
Additional Working Capital In_3
Additional Working Capital Information (Narrative) (Details) - USD ($) $ in Billions | Dec. 31, 2018 | Dec. 31, 2017 |
Line Of Credit Facility [Line Items] | ||
Weighted-average interest rate on short-term borrowings outstanding | 2.40% | 1.30% |
Short Term Financing [Member] | ||
Line Of Credit Facility [Line Items] | ||
Unused credit lines | $ 5.3 |
Additional Working Capital In_4
Additional Working Capital Information (Schedule Of Notes, Accounts Receivable And Payable, Loans Payable, Accrued Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Notes and Accounts Receivable [Abstract] | ||
Trade notes and accounts receivable, less reserves of $61 million and $72 million | $ 19,638 | $ 21,274 |
Other notes and accounts receivable, less reserves of $339 million and $539 million | 5,063 | 4,323 |
Total notes and accounts receivable | 24,701 | 25,597 |
Trade notes and accounts receivable, reserves | 61 | 72 |
Other notes and accounts receivable, reserves | 339 | 539 |
Notes And Loans Payable [Abstract] | ||
Bank loans | 325 | 115 |
Commercial paper | 12,863 | 13,049 |
Long-term debt due within one year | 4,070 | 4,766 |
Total notes and loans payable | 17,258 | 17,930 |
Accounts Payable And Accrued Liabilities Current [Abstract] | ||
Trade payables | 21,063 | 21,701 |
Payables to equity companies | 6,863 | 5,453 |
Accrued taxes other than income taxes | 3,280 | 3,311 |
Other accounts payable and accrued liabilities | 6,062 | 6,331 |
Total accounts payable and accrued liabilities | $ 37,268 | $ 36,796 |
Equity Company Information (Nar
Equity Company Information (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of Equity Method Investments [Line Items] | |||
Share of equity company sales revenues from sales to consolidated companies | 14.00% | 15.00% | 14.00% |
Equity Company Information (Sch
Equity Company Information (Schedule Of Equity Company Financial Summary) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Schedule of Equity Method Investments [Line Items] | |||
Investments (Companies carried at equity in underlying assets) | $ 26,382 | $ 24,354 | $ 20,810 |
Total Equity Company Including All Owners [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Total revenues | 112,938 | 94,791 | 80,247 |
Income before income taxes | 37,203 | 29,748 | 22,269 |
Income taxes | 11,568 | 8,421 | 6,334 |
Income from equity affiliates | 25,635 | 21,327 | 15,935 |
Current assets | 38,670 | 35,367 | 34,412 |
Long-term assets | 128,830 | 122,221 | 109,646 |
Total assets | 167,500 | 157,588 | 144,058 |
Current liabilities | 27,324 | 21,725 | 20,507 |
Long-term liabilities | 56,913 | 59,736 | 62,110 |
Investments (Companies carried at equity in underlying assets) | 83,263 | 76,127 | 61,441 |
Exxon Mobil Corporation Share After Noncontrolling Interest [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Total revenues | 34,539 | 29,340 | 24,668 |
Income before income taxes | 10,482 | 8,498 | 6,509 |
Income taxes | 3,151 | 2,236 | 1,701 |
Income from equity affiliates | 7,331 | 6,262 | 4,808 |
Current assets | 13,394 | 12,050 | 11,392 |
Long-term assets | 35,970 | 34,931 | 32,357 |
Total assets | 49,364 | 46,981 | 43,749 |
Current liabilities | 7,606 | 6,348 | 5,765 |
Long-term liabilities | 17,109 | 17,056 | 17,288 |
Investments (Companies carried at equity in underlying assets) | $ 24,649 | $ 23,577 | $ 20,696 |
Equity Company Information (S_2
Equity Company Information (Schedule Of The Corporation's Percentage Ownership Interest) (Details) | Dec. 31, 2018 |
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] | Caspian Pipeline Consortium - Kazakhstan [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 8.00% |
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 [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 10.00% |
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] | Gulf Coast Growth Ventures LLC [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 Lon_3
Investments, Advances And Long-Term Receivables (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Investments, Advances And Long-Term Receivables [Abstract] | ||||
Investments (Companies carried at equity in underlying assets) | $ 26,382 | $ 24,354 | $ 20,810 | |
Advances (Companies carried at equity in underlying assets) | 8,608 | 9,112 | ||
Total equity company investments and advances | 34,990 | 33,466 | ||
Equity securities carried at fair value and other investments at adjusted cost basis | [1] | 210 | 174 | |
Long-term receivables and miscellaneous, net of reserves of $5,471 million and $5,432 million | 5,590 | 5,520 | ||
Total | 40,790 | 39,160 | ||
Reserves for long-term receivables and miscellaneous investments | $ 5,471 | $ 5,432 | ||
[1] | 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 portion of unrealized gains and losses recognized during the reporting period on equity securities still held at December 31, 2018, and the carrying value of equity securities without readily determinable fair values at December 31, 2018, were not significant to the Corporation. |
Property, Plant And Equipment_3
Property, Plant And Equipment And Asset Retirement Obligations (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |||
Accumulated depreciation and depletion | $ 230,089 | $ 224,555 | |
Interest capitalized | 652 | 749 | $ 708 |
Asset impairment charges, before-tax | 700 | 2,000 | $ 3,600 |
Long-term asset retirement obligations | $ 11,185 | $ 11,928 |
Property, Plant And Equipment_4
Property, Plant And Equipment And Asset Retirement Obligations (Property, Plant And Equipment) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | $ 477,190 | $ 477,185 | |
Property, plant and equipment, net | 247,101 | 252,630 | $ 244,224 |
Upstream [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | 372,791 | 371,904 | |
Property, plant and equipment, net | 194,662 | 200,291 | |
Downstream [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | 48,241 | 50,343 | |
Property, plant and equipment, net | 21,448 | 21,732 | |
Chemical [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | 39,008 | 37,966 | |
Property, plant and equipment, net | 20,551 | 20,117 | |
Other [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | 17,150 | 16,972 | |
Property, plant and equipment, net | $ 10,440 | $ 10,490 |
Property, Plant And Equipment_5
Property, Plant And Equipment And Asset Retirement Obligations (Asset Retirement Obligations) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant And Equipment And Asset Retirement Obligations [Abstract] | ||
Beginning balance | $ 12,705 | $ 13,243 |
Accretion expense and other provisions | 681 | 780 |
Reduction due to property sales | (333) | (906) |
Payments made | (600) | (730) |
Liabilities incurred | 46 | 128 |
Foreign currency translation | (481) | 611 |
Revisions | 85 | (421) |
Ending balance | $ 12,103 | $ 12,705 |
Accounting For Suspended Expl_3
Accounting For Suspended Exploratory Well Costs (Narrative) (Details) $ in Millions | Dec. 31, 2018USD ($)Projects | Dec. 31, 2017USD ($)Projects | Dec. 31, 2016USD ($)Projects | Dec. 31, 2015USD ($) |
Exploratory Wells Drilled [Line Items] | ||||
Number of projects that have exploratory well costs capitalized for a period of greater than one year | 52 | 46 | 58 | |
Number of projects that have drilling in the preceding twelve months or exploratory activity planned in the next two years as of December 31, 2018 | 12 | |||
Number of projects with completed exploratory activity progressing toward development as of December 31, 2018 | 40 | |||
Capitalized exploratory well costs | $ | $ 4,160 | $ 3,700 | $ 4,477 | $ 4,372 |
40 Projects [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ | $ 2,543 |
Accounting For Suspended Expl_4
Accounting For Suspended Exploratory Well Costs (Change In Capitalized Suspended Exploratory Well Costs) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accounting For Suspended Exploratory Well Costs [Abstract] | |||
Capitalized suspended exploratory well costs, beginning balance | $ 3,700 | $ 4,477 | $ 4,372 |
Additions pending the determination of proved reserves | 564 | 906 | 180 |
Charged to expense | (7) | (1,205) | (111) |
Reclassifications to wells, facilities and equipment based on the determination of proved reserves | (48) | (497) | |
Divestments/Other | (49) | 19 | 36 |
Capitalized suspended exploratory well costs, ending balance | 4,160 | 3,700 | 4,477 |
Ending balance attributed to equity companies included above | $ 306 | $ 306 | $ 707 |
Accounting For Suspended Expl_5
Accounting For Suspended Exploratory Well Costs (Schedule Of Period End Capitalized Suspended Exploratory Well Costs) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items] | ||||
Capitalized for a period of one year or less | $ 564 | $ 906 | $ 180 | |
Capitalized for a period greater than one year - subtotal | 3,596 | 2,794 | 4,297 | |
Capitalized suspended exploratory well costs, total | 4,160 | 3,700 | 4,477 | $ 4,372 |
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 | 2,028 | 1,345 | 2,981 | |
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 | 1,150 | 1,064 | 911 | |
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 | $ 418 | $ 385 | $ 405 |
Accounting For Suspended Expl_6
Accounting For Suspended Exploratory Well Costs (Schedule Of Number Of Projects With Suspended Exploratory Well Costs) (Details) - Projects | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
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 | 6 | 11 | 2 |
Number of projects that have exploratory well costs capitalized for a period of greater than one year | 52 | 46 | 58 |
Total | 58 | 57 | 60 |
Accounting For Suspended Expl_7
Accounting For Suspended Exploratory Well Costs (Schedule Of Additional Detail For The Projects) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 4,160 | $ 3,700 | $ 4,477 | $ 4,372 |
40 Projects [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | 2,543 | |||
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 | |||
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 | $ 7 | |||
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 - Gorgon Area Ullage [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 318 | |||
Australia [Member] | Project in Australia - Gorgon Area Ullage [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 1,994 | |||
Australia [Member] | Project in Australia - Gorgon Area Ullage [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,015 | |||
Australia [Member] | Project In Australia - SE Longtom [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 11 | |||
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 | $ 33 | |||
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 | |||
Guyana [Member] | Project in Guyana - Liza Phase 2 [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 37 | |||
Guyana [Member] | Project in Guyana - Liza Phase 2 [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,017 | |||
Guyana [Member] | Project in Guyana - Liza Phase 2 [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,017 | |||
Iraq [Member] | Project in Iraq - Kurdistan Pirmam [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 109 | |||
Iraq [Member] | Project in Iraq - Kurdistan Pirmam [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,015 | |||
Iraq [Member] | Project in Iraq - Kurdistan Pirmam [Member] | 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 [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 18 | |||
Kazakhstan [Member] | Project in Kazakhstan - Kalamkas [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,006 | |||
Kazakhstan [Member] | Project in Kazakhstan - Kalamkas [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,009 | |||
Mozambique [Member] | Project in Mozambique - Rovuma LNG Future Non-Straddling Train [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 120 | |||
Mozambique [Member] | Project in Mozambique - Rovuma LNG Future Non-Straddling Train [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,017 | |||
Mozambique [Member] | Project in Mozambique - Rovuma LNG Future Non-Straddling Train [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,017 | |||
Mozambique [Member] | Project in Mozambique - Rovuma LNG Phase 1 [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 150 | |||
Mozambique [Member] | Project in Mozambique - Rovuma LNG Phase 1 [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,017 | |||
Mozambique [Member] | Project in Mozambique - Rovuma LNG Phase 1 [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,017 | |||
Mozambique [Member] | Project in Mozambique - Rovuma LNG Unitized Trains [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 35 | |||
Mozambique [Member] | Project in Mozambique - Rovuma LNG Unitized Trains [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,017 | |||
Mozambique [Member] | Project in Mozambique - Rovuma LNG Unitized Trains [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,017 | |||
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 - Bonga North [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 34 | |||
Nigeria [Member] | Project in Nigeria - Bonga North [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,004 | |||
Nigeria [Member] | Project in Nigeria - Bonga North [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,009 | |||
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 - 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 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 - 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 - 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 4 Projects In Nigeria [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 10 | |||
Nigeria [Member] | Other 4 Projects In Nigeria [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,001 | |||
Nigeria [Member] | Other 4 Projects In Nigeria [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,002 | |||
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 | |||
Norway [Member] | Project in Norway - Gamma [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 13 | |||
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 | $ 15 | |||
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 6 Projects In Norway [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 23 | |||
Norway [Member] | Other 6 Projects In Norway [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,008 | |||
Norway [Member] | Other 6 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 | |||
Papua New Guinea [Member] | Project in Papua New Guinea - Papua LNG [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 246 | |||
Papua New Guinea [Member] | Project in Papua New Guinea - Papua LNG [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,017 | |||
Papua New Guinea [Member] | Project in Papua New Guinea - Papua LNG [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,017 | |||
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 [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 536 | |||
Romania [Member] | Project in Romania - Neptun Deep [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2,012 | |||
Romania [Member] | Project in Romania - Neptun Deep [Member] | 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, 2018USD ($) |
Leased Facilities [Abstract] | |
Lease payments under minimum commitments, total | $ 6,112 |
Estimated related rental income from noncancelable subleases | $ 22 |
Leased Facilities (Leased Facil
Leased Facilities (Leased Facilities) (Details) $ in Millions | Dec. 31, 2018USD ($) |
Operating Leased Assets [Line Items] | |
Lease Payments Under Minimum Commitments, 2019 | $ 1,156 |
Lease Payments Under Minimum Commitments, 2020 | 985 |
Lease Payments Under Minimum Commitments, 2021 | 765 |
Lease Payments Under Minimum Commitments, 2022 | 549 |
Lease Payments Under Minimum Commitments, 2023 | 454 |
Lease Payments Under Minimum Commitments, 2024 and beyond | 2,203 |
Lease Payments Under Minimum Commitments, Total | 6,112 |
Drilling Rigs and Related Equipment [Member] | |
Operating Leased Assets [Line Items] | |
Lease Payments Under Minimum Commitments, 2019 | 222 |
Lease Payments Under Minimum Commitments, 2020 | 166 |
Lease Payments Under Minimum Commitments, 2021 | 107 |
Lease Payments Under Minimum Commitments, 2022 | 43 |
Lease Payments Under Minimum Commitments, 2023 | 32 |
Lease Payments Under Minimum Commitments, 2024 and beyond | 53 |
Lease Payments Under Minimum Commitments, Total | 623 |
Other [Member] | |
Operating Leased Assets [Line Items] | |
Lease Payments Under Minimum Commitments, 2019 | 934 |
Lease Payments Under Minimum Commitments, 2020 | 819 |
Lease Payments Under Minimum Commitments, 2021 | 658 |
Lease Payments Under Minimum Commitments, 2022 | 506 |
Lease Payments Under Minimum Commitments, 2023 | 422 |
Lease Payments Under Minimum Commitments, 2024 and beyond | 2,150 |
Lease Payments Under Minimum Commitments, Total | $ 5,489 |
Leased Facilities (Net Rental C
Leased Facilities (Net Rental Cost) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Leased Assets [Line Items] | |||
Rental cost | $ 2,715 | $ 2,618 | $ 3,091 |
Drilling Rigs and Related Equipment [Member] | |||
Operating Leased Assets [Line Items] | |||
Rental cost | 723 | 792 | 1,274 |
Other [Member] | |||
Operating Leased Assets [Line Items] | |||
Rental cost | $ 1,992 | $ 1,826 | $ 1,817 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Earnings per common share | ||||
Net income attributable to ExxonMobil | [1] | $ 20,840 | $ 19,710 | $ 7,840 |
Weighted average number of common shares outstanding | 4,270 | 4,256 | 4,177 | |
Earnings per common share (dollars) | [2] | $ 4.88 | $ 4.63 | $ 1.88 |
Dividends paid per common share (dollars) | $ 3.23 | $ 3.06 | $ 2.98 | |
[1] | See Note 2 for additional details regarding the change in segmentation of Non-service pension and postretirement benefit expense . | |||
[2] | The earnings per common share and earnings per common share - assuming dilution are the same in each period shown . |
Financial Instruments And Der_2
Financial Instruments And Derivatives (Narrative) (Details) bbl in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2018bbl | Dec. 31, 2017USD ($) | |
Financial Instruments And Derivatives [Line Items] | ||
Estimated fair value of total long-term debt, excluding capitalized lease obligations | $ 23,700 | |
Recorded book values of total long-term debt, excluding capitalized lease obligations | 23,100 | |
Gross assets | 25 | |
Gross liabilities | (63) | |
Collateral receivable | $ 94 | |
Crude Oil [Member] | Short [Member] | ||
Financial Instruments And Derivatives [Line Items] | ||
Net notional long / short position of derivative instruments bbl | bbl | 19 | |
Products [Member] | Short [Member] | ||
Financial Instruments And Derivatives [Line Items] | ||
Net notional long / short position of derivative instruments bbl | bbl | 9 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Total Gross Assets & Liabilities [Domain] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | $ 297 | |
Advances to/receivables from equity companies | [2],[3] | 8,393 | |
Other long-term financial assets | [4] | 1,822 | |
Derivative liabilities | [5] | 151 | |
Long-term debt | [6] | 19,150 | |
Long-term obligations to equity companies | [2] | 4,330 | |
Other long-term financial liabilities | [7] | 1,046 | |
Net Carrying Value Presented on the Balance Sheet [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Advances to/receivables from equity companies | [2],[3] | 8,608 | |
Other long-term financial assets | [4] | 1,934 | |
Long-term debt | [6] | 19,235 | |
Long-term obligations to equity companies | [2] | 4,382 | |
Other long-term financial liabilities | [7] | 1,043 | |
Long-term debt | $ 23,700 | ||
Effect Of Counterparty Netting [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | (151) | |
Derivative liabilities | [5] | (151) | |
Effect Of Collateral Netting [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | (146) | |
Difference In Carrying Value And Fair Value [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Advances to/receivables from equity companies | [2],[3] | 215 | |
Other long-term financial assets | [4] | 112 | |
Long-term debt | [6] | 85 | |
Long-term obligations to equity companies | [2] | 52 | |
Other long-term financial liabilities | [7] | (3) | |
Level 1 [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | 297 | |
Other long-term financial assets | [4] | 848 | |
Derivative liabilities | [5] | 151 | |
Long-term debt | [6] | 19,029 | |
Level 2 [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Advances to/receivables from equity companies | [2],[3] | 2,100 | |
Long-term debt | [6] | 117 | |
Level 3 [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Advances to/receivables from equity companies | [2],[3] | 6,293 | |
Other long-term financial assets | [4] | 974 | |
Long-term debt | [6] | 4 | |
Long-term obligations to equity companies | [2] | 4,330 | |
Other long-term financial liabilities | [7] | $ 1,046 | |
[1] | Included in the Balance Sheet line: Notes and accounts receivable, less estimated doubtful amounts | ||
[2] | Advances to/receivables from equity companies and long-term obligations to equity companies are mainly designated as hierarchy level 3 inputs. The fair value is calculated by discounting the remaining obligations by a rate consistent with the credit quality and industry of the equity company. | ||
[3] | Included in the Balance Sheet line: Investments, advances and long-term receivables | ||
[4] | Included in the Balance Sheet lines: Investments, advances and long-term receivables and Other assets, including intangibles, net | ||
[5] | Included in the Balance Sheet line: Accounts payable and accrued liabilities | ||
[6] | Excluding capitalized lease obligations | ||
[7] | Included in the Balance Sheet line: Other long-term obligations |
Derivative Instruments (Details
Derivative Instruments (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Realized and Unrealized Before-Tax Gain / Loss on Derivative Instruments Recognized in the Consolidated Statement of Income | |||
Sales and other operating revenue | $ 279,332 | $ 237,162 | $ 200,628 |
Crude oil and product purchases | 156,172 | 128,217 | 104,171 |
Not Designated As Hedging Instrument Trading [Member] | |||
Realized and Unrealized Before-Tax Gain / Loss on Derivative Instruments Recognized in the Consolidated Statement of Income | |||
Sales and other operating revenue | 130 | 6 | (12) |
Crude oil and product purchases | (120) | (105) | (69) |
Total | $ 10 | $ (99) | $ (81) |
Long-Term Debt (Narrative) (Det
Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Long-term Debt [Line Items] | ||
Long Term Debt In US Dollars | $ 19,940 | |
U.S. dollar equivalent at year-end exchange rates of amounts payable in foreign currencies | 598 | |
Portion of long-term debt included in current liability | 4,070 | $ 4,766 |
Long-term debt maturing - 2020 | 1,639 | |
Long-term debt maturing - 2021 | 2,571 | |
Long-term debt maturing - 2022 | 1,841 | |
Long-term debt maturing - 2023 | 1,304 | |
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, 2018 | Dec. 31, 2017 | ||
Long-term Debt [Line Items] | |||
Debt issuance costs | $ (42) | $ (55) | |
Long-term debt | 20,538 | 24,406 | |
XTO Energy Inc. [Member] | |||
Long-term Debt [Line Items] | |||
Debt instrument, unamortized premium | 97 | 102 | |
Combined Exxon Mobil And Affiliates [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Other long-term debt | 102 | 162 | |
Combined Exxon Mobil And Affiliates [Member] | Other Foreign Currency Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Other long-term debt | 38 | 34 | |
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 | ||
Interest rate | 1.819% | ||
Debt maturity | 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 | ||
Interest rate | 1.708% | ||
Debt maturity | 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 | ||
Debt maturity | Mar. 15, 2019 | ||
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 | ||
Debt maturity | Mar. 1, 2019 | ||
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] | 2.502% | |
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 | |
6.100% Senior Notes Due 2036 [Member] | XTO Energy Inc. [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 195 | $ 195 | |
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 | $ 299 | $ 302 | |
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 | $ 230 | $ 232 | |
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 | $ 250 | |
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 | $ 2,513 | $ 2,559 | |
Debt instrument, maturity date range, start | Jun. 1, 2020 | Nov. 1, 2019 | |
Debt instrument, maturity date range, end | Dec. 1, 2051 | Dec. 1, 2051 | |
Average effective interest rate | [1] | 1.334% | |
Capital Lease Obligations [Member] | Combined Exxon Mobil And Affiliates [Member] | |||
Long-term Debt [Line Items] | |||
Average effective interest rate | [1] | 9.44% | |
Long-term debt | $ 1,303 | $ 1,327 | |
[1] | Average effect ive interest rate for debt and average imputed interest rate for capitalized leases at December 31, 2018. |
Incentive Program (Narrative) (
Incentive Program (Narrative) (Details) - USD ($) shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Minimum ownership of affiliates needed for awards | 50.00% | ||
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 | ||
Number of shares issuable under 2003 incentive program, maximum | 220,000 | ||
Remaining shares available for award under 2003 incentive program | 82,000 | ||
Restricted Stock [Member] | |||
Long-term incentive awards | 8,771 | 8,916 | 9,583 |
Percent of the shares in each award vesting after three years | 50.00% | ||
Percent of shares in each award vesting after five years | 50.00% | ||
Percent of the shares in each award vesting after seven years | 50.00% | ||
Percent of shares in each award vesting in later of ten years or retirement | 50.00% | ||
Unrecognized compensation cost | $ 1,899 | ||
Unrecognized compensation cost, weighted-average period of recognition, years | 4 years 5 months | ||
Compensation cost charged against income | $ 774 | $ 856 | $ 880 |
Income tax benefit recognized in income | 42 | 78 | 80 |
Fair value of shares/awards vested | 722 | 826 | 851 |
Cash payments, vested restricted stock units | $ 61 | $ 64 | $ 67 |
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, 2018$ / sharesshares | |
Incentive Program [Abstract] | |
Issued and outstanding at January 1, Restricted stock, Shares | shares | 41,078 |
2017 award issued in 2018, Shares | shares | 8,910 |
Vested, Shares | shares | (9,347) |
Forfeited, Shares | shares | (260) |
Issued and outstanding at December 31, Restricted stock, Shares | shares | 40,381 |
Issued and outstanding at January 1, Weighted Average Grant-Date Fair Value per Share | $ / shares | $ 86.34 |
2017 award issued in 2018, Weighted Average Grant-Date Fair Value per Share | $ / shares | 81.89 |
Vested, Weighted Average Grant-Date Fair Value per Share | $ / shares | 81.14 |
Forfeited, Weighted Average Grant-Date Fair Value per Share | $ / shares | 85.72 |
Issued and outstanding at December 31, Weighted Average Grant-Date Fair Value per Share | $ / shares | $ 86.56 |
Incentive Program (Grant Value
Incentive Program (Grant Value Of Restricted Stock Units) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Grant price, per share | $ 77.66 | $ 81.89 | $ 87.7 |
Units settled in stock | $ 620 | $ 667 | $ 771 |
Units settled in cash | 61 | 63 | 69 |
Total value | $ 681 | $ 730 | $ 840 |
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 |
Mobil Cerro Negro, Ltd. (MCN) [Member] | Expropriation of Assets [Member] | ||||
Loss 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 | |||
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 | |||
Accrued interest relating to award for excess lifting of crude oil | $ 234 |
Litigation And Other Continge_4
Litigation And Other Contingencies (Schedule Of Guarantees) (Details) $ in Millions | Dec. 31, 2018USD ($) | |
Loss Contingencies [Line Items] | ||
Guarantees | $ 5,838 | |
Equity Company Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 1,387 | [1] |
Other Third-Party Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 4,451 | |
Debt-Related Guarantees [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 608 | |
Debt-Related Guarantees [Member] | Equity Company Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 537 | [1] |
Debt-Related Guarantees [Member] | Other Third-Party Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 71 | |
Other Guarantees [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 5,230 | |
Other Guarantees [Member] | Equity Company Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 850 | [1] |
Other Guarantees [Member] | Other Third-Party Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | $ 4,380 | |
[1] | ExxonMobil share. |
Pension And Other Postretirem_3
Pension And Other Postretirement Benefits (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Health care cost trend rate | 4.50% | ||
Year that rate reaches ultimate trend rate | 2,020 | ||
Effect of one-percentage-point increase on service and interest costs | $ 74 | ||
Effect of one-percentage-point increase on postretirement benefit obligation | 776 | ||
Effect of one-percentage-point decrease on service and interest costs | 56 | ||
Effect of one-percentage-point decrease on postretirement benefit obligation | 620 | ||
Costs for defined contribution plans | $ 391 | $ 384 | $ 399 |
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 Postretirem_4
Pension And Other Postretirement Benefits (Benefit Obligations And Plan Assets Associated With Principal Benefit Plans) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Defined Benefit Plan Disclosure [Line Items] | ||||
Medicare subsidy receipts | $ 13 | $ 16 | ||
U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 4.40% | 3.80% | ||
Long-term rate of compensation increase | 5.75% | 5.75% | ||
Benefit obligation at January 1 | $ 19,310 | $ 19,960 | ||
Service cost | 819 | 784 | $ 810 | |
Interest cost | 721 | 798 | 793 | |
Defined benefit plan, actuarial net (gains) losses | (957) | 733 | ||
Benefits paid | [1],[2] | (1,715) | (2,964) | |
Amendments, divestments and other | (4) | (1) | ||
Benefit obligation at December 31 | 18,174 | 19,310 | 19,960 | |
Accumulated benefit obligation at December 31 | $ 14,683 | $ 15,557 | ||
Pension Benefits - Non-U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 3.00% | 2.80% | ||
Long-term rate of compensation increase | 4.30% | 4.30% | ||
Benefit obligation at January 1 | $ 27,963 | $ 25,196 | ||
Service cost | 608 | 596 | 585 | |
Interest cost | 754 | 772 | 844 | |
Defined benefit plan, actuarial net (gains) losses | (1,034) | 250 | ||
Benefits paid | [1],[2] | (1,284) | (1,291) | |
Foreign exchange rate changes | (1,664) | 2,484 | ||
Amendments, divestments and other | 35 | (44) | ||
Benefit obligation at December 31 | 25,378 | 27,963 | 25,196 | |
Accumulated benefit obligation at December 31 | $ 23,350 | $ 25,557 | ||
Other Postretirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 4.40% | 3.80% | ||
Long-term rate of compensation increase | 5.75% | 5.75% | ||
Benefit obligation at January 1 | $ 8,100 | $ 7,800 | ||
Service cost | 152 | 129 | 153 | |
Interest cost | 301 | 317 | 344 | |
Defined benefit plan, actuarial net (gains) losses | (630) | 231 | ||
Benefits paid | [1],[2] | (528) | (543) | |
Foreign exchange rate changes | (49) | 40 | ||
Amendments, divestments and other | 125 | 126 | ||
Benefit obligation at December 31 | $ 7,471 | $ 8,100 | $ 7,800 | |
[1] | Benefit payments for funded and unfunded plans. | |||
[2] | For 2018 and 2017, other postretirement benefits paid are net of $13 million and $16 million of Medicare subsidy receipts, respectively. |
Pension And Other Postretirem_5
Pension And Other Postretirement Benefits (Change In Plan Assets Of Pension And Other Postretirement Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value at January 1 | $ 12,782 | $ 12,793 | |
Actual return on plan assets | (710) | 1,831 | |
Company contribution | 491 | 619 | |
Benefits paid | [1] | (1,429) | (2,461) |
Fair value at December 31 | 11,134 | 12,782 | |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value at January 1 | 21,461 | 19,043 | |
Actual return on plan assets | (15) | 1,442 | |
Foreign exchange rate changes | (1,320) | 1,776 | |
Company contribution | 438 | 440 | |
Benefits paid | [1] | (903) | (902) |
Other | (175) | (338) | |
Fair value at December 31 | 19,486 | 21,461 | |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value at January 1 | 427 | 411 | |
Actual return on plan assets | (13) | 40 | |
Company contribution | 30 | 34 | |
Benefits paid | [1] | (58) | (58) |
Fair value at December 31 | $ 386 | $ 427 | |
[1] | Benefit payments for funded plans. |
Pension And Other Postretirem_6
Pension And Other Postretirement Benefits (Summary Of Assets In Excess Of/(Less Than) Benefit Obligation) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan funded status of plan | $ (4,604) | $ (3,957) | |
Unfunded plans | (2,436) | (2,571) | |
Total | [1] | (7,040) | (6,528) |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan funded status of plan | 439 | 413 | |
Unfunded plans | (6,331) | (6,915) | |
Total | [1] | $ (5,892) | $ (6,502) |
[1] | Fair value of assets less benefit obligation shown on the preceding page. |
Pension And Other Postretirem_7
Pension And Other Postretirement Benefits (Assets Recorded In Balance Sheet And Other Comprehensive Income) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Postretirement benefits reserves | $ (20,272) | $ (21,132) | |
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at December 31 | [1] | (7,040) | (6,528) |
Current liabilities | (243) | (276) | |
Postretirement benefits reserves | (6,797) | (6,252) | |
Total recorded | [1] | (7,040) | (6,528) |
Net actuarial loss/(gain) | 3,831 | 3,982 | |
Prior service cost | 6 | 11 | |
Total recorded in accumulated other comprehensive income | 3,837 | 3,993 | |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at December 31 | [1] | (5,892) | (6,502) |
Other assets | 1,174 | 1,403 | |
Current liabilities | (314) | (338) | |
Postretirement benefits reserves | (6,752) | (7,567) | |
Total recorded | [1] | (5,892) | (6,502) |
Net actuarial loss/(gain) | 4,713 | 5,586 | |
Prior service cost | (93) | (143) | |
Total recorded in accumulated other comprehensive income | 4,620 | 5,443 | |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at December 31 | [1] | (7,085) | (7,673) |
Current liabilities | (362) | (360) | |
Postretirement benefits reserves | (6,723) | (7,313) | |
Total recorded | [1] | (7,085) | (7,673) |
Net actuarial loss/(gain) | 877 | 1,595 | |
Prior service cost | (357) | (397) | |
Total recorded in accumulated other comprehensive income | $ 520 | $ 1,198 | |
[1] | Fair value of assets less benefit obligation shown on the preceding page. |
Pension And Other Postretirem_8
Pension And Other Postretirement Benefits (Long-Term Rates Of Pension And Other Postretirement Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Total recorded in other comprehensive income | $ (1,657) | $ (1,279) | $ (2,287) |
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 3.80% | 4.25% | 4.25% |
Long-term rate of return on funded assets | 6.00% | 6.50% | 6.50% |
Long-term rate of compensation increase | 5.75% | 5.75% | 5.75% |
Service cost | $ 819 | $ 784 | $ 810 |
Interest cost | 721 | 798 | 793 |
Expected return on plan assets | (727) | (775) | (726) |
Amortization of actuarial loss/(gain) | 362 | 438 | 492 |
Amortization of prior service cost | 5 | 5 | 6 |
Net pension enhancement and curtailment/settlement cost | 268 | 609 | 319 |
Net periodic benefit cost | 1,448 | 1,859 | 1,694 |
Net actuarial loss/(gain) | 479 | (324) | 27 |
Amortization of actuarial (loss)/gain | (630) | (1,047) | (811) |
Amortization of prior service (cost)/credit | (5) | (5) | (6) |
Total recorded in other comprehensive income | (156) | (1,376) | (790) |
Total recorded in net periodic benefit cost and other comprehensive income, before tax | $ 1,292 | $ 483 | $ 904 |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 2.80% | 3.00% | 3.60% |
Long-term rate of return on funded assets | 4.70% | 5.20% | 5.25% |
Long-term rate of compensation increase | 4.30% | 4.00% | 4.80% |
Service cost | $ 608 | $ 596 | $ 585 |
Interest cost | 754 | 772 | 844 |
Expected return on plan assets | (951) | (1,000) | (927) |
Amortization of actuarial loss/(gain) | 409 | 476 | 536 |
Amortization of prior service cost | 46 | 47 | 54 |
Net pension enhancement and curtailment/settlement cost | 44 | 19 | 2 |
Net periodic benefit cost | 910 | 910 | 1,094 |
Net actuarial loss/(gain) | (66) | (191) | (156) |
Amortization of actuarial (loss)/gain | (453) | (495) | (538) |
Prior service cost/(credit) | 98 | 111 | 32 |
Amortization of prior service (cost)/credit | (46) | (47) | (54) |
Foreign exchange rate changes | (356) | 559 | (108) |
Total recorded in other comprehensive income | (823) | (63) | (824) |
Total recorded in net periodic benefit cost and other comprehensive income, before tax | $ 87 | $ 847 | $ 270 |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 3.80% | 4.25% | 4.25% |
Long-term rate of return on funded assets | 6.00% | 6.50% | 6.50% |
Long-term rate of compensation increase | 5.75% | 5.75% | 5.75% |
Service cost | $ 152 | $ 129 | $ 153 |
Interest cost | 301 | 317 | 344 |
Expected return on plan assets | (23) | (24) | (25) |
Amortization of actuarial loss/(gain) | 116 | 96 | 153 |
Amortization of prior service cost | (40) | (33) | (30) |
Net periodic benefit cost | 506 | 485 | 595 |
Net actuarial loss/(gain) | (594) | 215 | (555) |
Amortization of actuarial (loss)/gain | (116) | (96) | (153) |
Amortization of prior service (cost)/credit | 40 | 33 | 30 |
Foreign exchange rate changes | (8) | 8 | 5 |
Total recorded in other comprehensive income | (678) | 160 | (673) |
Total recorded in net periodic benefit cost and other comprehensive income, before tax | $ (172) | $ 645 | $ (78) |
Pension And Other Postretirem_9
Pension And Other Postretirement Benefits (Summary Of The Change In Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Total (charge)/credit to other comprehensive income, before tax | $ 1,657 | $ 1,279 | $ 2,287 |
(Charge)/credit to income tax (see Note 4) | (470) | (290) | (692) |
(Charge)/credit to investment in equity companies | 24 | (43) | (16) |
(Charge)/credit to other comprehensive income including noncontrolling interests, after tax | 1,211 | 946 | 1,579 |
Charge/(credit) to equity of noncontrolling interests | (114) | 12 | 24 |
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 | 1,097 | 958 | 1,603 |
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total (charge)/credit to other comprehensive income, before tax | 156 | 1,376 | 790 |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total (charge)/credit to other comprehensive income, before tax | 823 | 63 | 824 |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total (charge)/credit to other comprehensive income, before tax | $ 678 | $ (160) | $ 673 |
Pension And Other Postretire_10
Pension And Other Postretirement Benefits (Fair Value Of Benefit Plan Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | $ 11,134 | $ 12,782 | $ 12,793 | |
U.S. [Member] | Total At Fair Value [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 3,246 | 3,909 | |
Fair value of plan assets | 11,126 | 12,773 | ||
U.S. [Member] | U.S. Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 1,397 | 1,665 | |
Fair value of plan assets | 1,397 | 1,665 | ||
U.S. [Member] | Non-U.S. Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 1,218 | 1,570 | |
Fair value of plan assets | 1,218 | 1,570 | ||
U.S. [Member] | Private Equity [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 516 | 532 | |
Fair value of plan assets | 516 | 532 | ||
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 | 4,796 | 5,261 | ||
U.S. [Member] | Government Debt Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 2 | 2 | |
Fair value of plan assets | 3,087 | 3,606 | ||
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 | 1 | ||
U.S. [Member] | Cash [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 111 | 138 | |
Fair value of plan assets | 111 | 138 | ||
U.S. [Member] | Insurance Contracts At Contract Value [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 8 | 9 | ||
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 | 7,880 | 8,864 | ||
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] | 4,795 | 5,260 | |
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] | 3,085 | 3,604 | |
Pension Benefits - Non-U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 19,486 | 21,461 | $ 19,043 | |
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] | 18,908 | 20,837 | |
Fair value of plan assets | 19,465 | 21,438 | ||
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] | 2,648 | 2,967 | |
Fair value of plan assets | 2,648 | 2,967 | ||
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] | 2,436 | 2,903 | |
Fair value of plan assets | 2,493 | 3,014 | ||
Pension Benefits - Non-U.S. [Member] | Private Equity [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 513 | 522 | |
Fair value of plan assets | 513 | 522 | ||
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] | 3,713 | 5,215 | |
Fair value of plan assets | 3,815 | 5,346 | ||
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] | 9,326 | 9,056 | |
Fair value of plan assets | 9,666 | 9,325 | ||
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] | 218 | 72 | |
Fair value of plan assets | 246 | 106 | ||
Pension Benefits - Non-U.S. [Member] | Cash [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 54 | 102 | |
Fair value of plan assets | 84 | 158 | ||
Pension Benefits - Non-U.S. [Member] | Insurance Contracts At Contract Value [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 21 | 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 | 327 | 402 | ||
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] | 57 | 111 | |
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] | 243 | 237 | |
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 | 27 | 54 | ||
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 | 230 | 199 | ||
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] | 102 | 131 | |
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] | 97 | 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] | 28 | 34 | |
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 | [5] | $ 3 | $ 2 | |
[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 cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input. |
Pension And Other Postretire_11
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, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, net asset value | [1] | $ 109 | $ 130 |
Fair value of plan assets | 386 | 427 | |
U.S. Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, net asset value | [1] | 64 | 73 |
Fair value of plan assets | 64 | 73 | |
Non-U.S. Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, net asset value | [1] | 41 | 55 |
Fair value of plan assets | 41 | 55 | |
Corporate Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | [2] | 88 | 99 |
Government Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | [2] | 189 | 197 |
Asset Backed Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | [2] | 1 | |
Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, net asset value | [1] | 4 | 2 |
Fair value of plan assets | 4 | 2 | |
Fair Value Inputs Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, fair value hierarchy | 277 | 297 | |
Fair Value Inputs Level 2 [Member] | Corporate Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, fair value hierarchy | 88 | 99 | |
Fair Value Inputs Level 2 [Member] | Government Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, fair value hierarchy | $ 189 | 197 | |
Fair Value Inputs Level 2 [Member] | Asset Backed Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, fair value hierarchy | $ 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 Postretire_12
Pension And Other Postretirement Benefits (Pension Plans With Accumulated Benefit Obligation In Excess Of Plan Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Funded Pension Plans [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | $ 15,738 | $ 16,739 |
Accumulated benefit obligation | 13,208 | 14,022 |
Fair value of plan assets | 11,134 | 12,782 |
Funded Pension Plans [Member] | Pension Benefits - Non-U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | 4,037 | 3,384 |
Accumulated benefit obligation | 3,671 | 3,264 |
Fair value of plan assets | 3,499 | 3,219 |
Unfunded Pension Plans [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | 2,436 | 2,571 |
Accumulated benefit obligation | 1,475 | 1,535 |
Unfunded Pension Plans [Member] | Pension Benefits - Non-U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | 6,331 | 6,915 |
Accumulated benefit obligation | $ 5,670 | $ 6,208 |
Pension And Other Postretire_13
Pension And Other Postretirement Benefits (Estimated Amortization) (Details) $ in Millions | Dec. 31, 2018USD ($) | |
U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss/(gain) | $ 510 | [1] |
Prior service cost | 5 | [2] |
Pension Benefits - Non-U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss/(gain) | 357 | [1] |
Prior service cost | 48 | [2] |
Other Postretirement Benefits [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss/(gain) | 59 | [1] |
Prior service cost | $ (42) | [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 Postretire_14
Pension And Other Postretirement Benefits (Expected Contribution Pension Benefits And Other Postretirement Benefits) (Details) $ in Millions | Dec. 31, 2018USD ($) |
U.S. [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Contributions expected in 2019 | $ 1,020 |
Benefits payments expected in 2019 | 1,353 |
Benefits payments expected in 2020 | 1,312 |
Benefits payments expected in 2021 | 1,310 |
Benefits payments expected in 2022 | 1,302 |
Benefits payments expected in 2023 | 1,307 |
Benefits payments expected in 2024-2028 | 6,393 |
Pension Benefits - Non-U.S. [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Contributions expected in 2019 | 680 |
Benefits payments expected in 2019 | 1,113 |
Benefits payments expected in 2020 | 1,111 |
Benefits payments expected in 2021 | 1,127 |
Benefits payments expected in 2022 | 1,138 |
Benefits payments expected in 2023 | 1,156 |
Benefits payments expected in 2024-2028 | 5,806 |
Gross Other Post Retirement Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Benefits payments expected in 2019 | 454 |
Benefits payments expected in 2020 | 458 |
Benefits payments expected in 2021 | 461 |
Benefits payments expected in 2022 | 463 |
Benefits payments expected in 2023 | 456 |
Benefits payments expected in 2024-2028 | 2,259 |
Other Postretirement Benefits Medicare Subsidy Receipt [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Benefits payments expected in 2019 | 19 |
Benefits payments expected in 2020 | 20 |
Benefits payments expected in 2021 | 20 |
Benefits payments expected in 2022 | 22 |
Benefits payments expected in 2023 | 23 |
Benefit payments expected in 2024-2028 | $ 126 |
Disclosures About Segments An_3
Disclosures About Segments And Related Information (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosures About Segments And Related Information [Abstract] | |||
Non-debt-related interest expense | $ 84 | $ 136 | $ 63 |
Disclosures About Segments An_4
Disclosures About Segments And Related Information (Schedule Of Segments And Related Information) (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | [1] | $ 20,840 | $ 19,710 | $ 7,840 | |
Earnings of equity companies included above | 7,355 | 5,380 | 4,806 | ||
Sales and other operating revenue | 279,332 | 237,162 | 200,628 | ||
Depreciation and depletion expense | 18,745 | 19,893 | 22,308 | ||
Interest revenue | 64 | 36 | 30 | ||
Interest expense | 766 | 601 | 453 | ||
Income taxes expense (benefit) | 9,532 | (1,174) | (406) | ||
Additions to property, plant and equipment | 20,051 | 24,901 | 16,100 | ||
Investments in equity companies | 26,382 | 24,354 | 20,810 | ||
Total assets | 346,196 | 348,691 | 330,314 | ||
Effect of U.S. tax reform - noncash | |||||
Segment Reporting Information [Line Items] | |||||
Effect of U.S. tax reform | (291) | (5,942) | |||
U.S. [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Income taxes expense (benefit) | 1,145 | (8,561) | (3,040) | ||
Non-U.S. [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Income taxes expense (benefit) | 8,387 | 7,387 | 2,634 | ||
Upstream [Member] | U.S. [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 1,739 | [1] | 6,622 | (4,151) | |
Earnings of equity companies included above | 608 | 216 | 53 | ||
Sales and other operating revenue | 10,359 | 9,349 | 7,552 | ||
Intersegment revenue | 8,683 | 5,729 | 3,827 | ||
Depreciation and depletion expense | 6,024 | 6,963 | 9,626 | ||
Interest expense | 77 | 87 | 17 | ||
Income taxes expense (benefit) | 104 | (8,552) | (2,600) | ||
Additions to property, plant and equipment | 7,119 | 9,761 | 3,144 | ||
Investments in equity companies | 4,566 | 4,680 | 4,917 | ||
Total assets | 90,310 | 89,048 | 86,146 | ||
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 | 12,340 | [1] | 6,733 | 4,347 | |
Earnings of equity companies included above | 5,816 | 3,618 | 3,359 | ||
Sales and other operating revenue | 15,158 | 14,508 | 12,278 | ||
Intersegment revenue | 29,659 | 22,935 | 18,099 | ||
Depreciation and depletion expense | 9,257 | 9,741 | 9,550 | ||
Interest expense | 31 | 29 | 29 | ||
Income taxes expense (benefit) | 8,149 | 5,463 | 1,818 | ||
Additions to property, plant and equipment | 7,974 | 8,617 | 7,878 | ||
Investments in equity companies | 16,337 | 14,494 | 11,364 | ||
Total assets | 148,914 | 155,822 | 153,183 | ||
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 | 2,962 | [1] | 1,948 | 1,094 | |
Earnings of equity companies included above | 156 | 118 | 58 | ||
Sales and other operating revenue | 74,327 | 61,695 | 52,630 | ||
Intersegment revenue | 21,954 | 14,857 | 11,796 | ||
Depreciation and depletion expense | 684 | 658 | 628 | ||
Interest expense | 2 | 1 | 1 | ||
Income taxes expense (benefit) | 946 | (61) | 396 | ||
Additions to property, plant and equipment | 1,152 | 769 | 791 | ||
Investments in equity companies | 293 | 276 | 111 | ||
Total assets | 17,898 | 18,172 | 16,201 | ||
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 | 3,048 | [1] | 3,649 | 3,107 | |
Earnings of equity companies included above | (6) | 490 | 404 | ||
Sales and other operating revenue | 147,007 | 122,881 | 102,756 | ||
Intersegment revenue | 29,888 | 22,263 | 18,775 | ||
Depreciation and depletion expense | 890 | 883 | 889 | ||
Interest expense | 12 | 6 | 8 | ||
Income taxes expense (benefit) | 1,008 | 934 | 951 | ||
Additions to property, plant and equipment | 1,595 | 1,551 | 1,525 | ||
Investments in equity companies | 1,162 | 1,462 | 1,255 | ||
Total assets | 34,024 | 34,294 | 29,208 | ||
Chemical [Member] | U.S. [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 1,642 | [1] | 2,190 | 1,876 | |
Earnings of equity companies included above | 48 | 90 | 111 | ||
Sales and other operating revenue | 12,239 | 11,035 | 9,944 | ||
Intersegment revenue | 9,044 | 7,270 | 6,404 | ||
Depreciation and depletion expense | 405 | 299 | 275 | ||
Income taxes expense (benefit) | 566 | 362 | 693 | ||
Additions to property, plant and equipment | 1,146 | 1,330 | 1,463 | ||
Investments in equity companies | 870 | 341 | 158 | ||
Total assets | 14,904 | 13,363 | 11,600 | ||
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 | 1,709 | [1] | 2,328 | 2,739 | |
Earnings of equity companies included above | 1,113 | 1,217 | 1,188 | ||
Sales and other operating revenue | 20,204 | 17,659 | 15,447 | ||
Intersegment revenue | 7,217 | 5,550 | 4,211 | ||
Depreciation and depletion expense | 606 | 504 | 477 | ||
Interest expense | 1 | ||||
Income taxes expense (benefit) | 245 | 664 | 609 | ||
Additions to property, plant and equipment | 348 | 2,019 | 482 | ||
Investments in equity companies | 3,431 | 3,387 | 3,247 | ||
Total assets | 21,131 | 21,133 | 18,453 | ||
Corporate And Financing [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | (2,600) | [1] | (3,760) | (1,172) | |
Earnings of equity companies included above | (380) | (369) | (367) | ||
Sales and other operating revenue | 38 | 35 | 21 | ||
Intersegment revenue | 205 | 208 | 236 | ||
Depreciation and depletion expense | 879 | 845 | 863 | ||
Interest revenue | 64 | 36 | 30 | ||
Interest expense | 643 | 478 | 398 | ||
Income taxes expense (benefit) | (1,486) | 16 | (2,273) | ||
Additions to property, plant and equipment | 717 | 854 | 817 | ||
Investments in equity companies | (277) | (286) | (242) | ||
Total assets | $ 19,015 | 16,859 | $ 15,523 | ||
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] | See Note 2 for additional details regarding the change in segmentation of Non-service pension and postretirement benefit expense . |
Disclosures About Segments An_5
Disclosures About Segments And Related Information (Schedule Of Geographic Sales And Other Operating Revenue) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | $ 279,332 | $ 237,162 | $ 200,628 | |
U.S. [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 96,930 | 82,079 | 70,126 | |
Non-U.S. [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 182,402 | 155,083 | 130,502 | |
Canada [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | 22,672 | 20,116 | 17,682 |
United Kingdom [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | 18,702 | 16,611 | 15,452 |
Belgium [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | 15,664 | 13,633 | 10,834 |
Singapore [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | 13,689 | 11,589 | 9,919 |
France [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | 13,637 | 11,235 | 9,487 |
Italy [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | 13,396 | 11,476 | 9,715 |
Germany [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | $ 9,426 | $ 8,484 | $ 7,899 |
[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 . |
Disclosures About Segments An_6
Disclosures About Segments And Related Information (Schedule Of Long-Lived Assets By Geographic Regions) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | $ 247,101 | $ 252,630 | $ 244,224 |
U.S. [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 108,147 | 105,101 | 101,194 |
Non-U.S. [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 138,954 | 147,529 | 143,030 |
Canada [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 37,433 | 41,138 | 40,144 |
Australia [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 14,548 | 16,908 | 16,510 |
Singapore [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 11,148 | 11,292 | 9,769 |
Kazakhstan [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 9,726 | 10,121 | 10,325 |
Nigeria [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 8,421 | 9,734 | 11,314 |
Papua New Guinea [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 8,269 | 8,463 | 5,719 |
Angola [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 7,021 | 7,689 | 8,413 |
Russia [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | $ 5,456 | $ 5,702 | $ 4,828 |
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 | |
Income And Other Taxes [Abstract] | |||
Reconciliation between income tax expense and theoretical U.S. tax rate, statutory rate | 21.00% | 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 | $ 3 | $ 36 | $ 4 |
Interest payable on income tax reserves | 169 | 168 | |
Valuation Allowance [Abstract] | |||
Valuation allowance change from 2017 to 2018 | (739) | ||
Asset valuation allowances | 1,826 | 2,565 | |
US Tax Reform [Member] | |||
Income And Other Taxes [Abstract] | |||
Net deferred income tax expense (credits)/charges for tax rate and law changes | (291) | (5,942) | |
Valuation Allowance [Abstract] | |||
Valuation allowance change from 2017 to 2018 | (234) | ||
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 | (289) | $ (5,920) | $ 180 |
Increase Reduction In Deferred Tax Assets [Member] | U.S. [Member] | |||
Valuation Allowance [Abstract] | |||
Valuation allowance change from 2017 to 2018 | $ (333) |
Income And Other Taxes (Schedul
Income And Other Taxes (Schedule Of Income And Other Taxes) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income and Other Taxes [Line Items] | |||
Current | $ 9,460 | $ 7,210 | $ 3,842 |
Deferred - net | (96) | (8,321) | (4,223) |
U.S. tax on non-U.S. operations | 42 | 17 | 41 |
Total federal and non-U.S. | 9,406 | (1,094) | (340) |
State | 126 | (80) | (66) |
Total income tax expense | 9,532 | (1,174) | (406) |
Other taxes and duties | 32,663 | 30,104 | 29,020 |
Other taxes and duties included in production and manufacturing expenses | 2,102 | 1,854 | 1,860 |
Other taxes and duties included in SG&A expenses | 465 | 501 | 495 |
Total other taxes and duties | 35,230 | 32,459 | 31,375 |
Total | 44,762 | 31,285 | 30,969 |
U.S. [Member] | |||
Income and Other Taxes [Line Items] | |||
Current | 459 | 577 | (214) |
Deferred - net | 518 | (9,075) | (2,801) |
U.S. tax on non-U.S. operations | 42 | 17 | 41 |
Total federal and non-U.S. | 1,019 | (8,481) | (2,974) |
State | 126 | (80) | (66) |
Total income tax expense | 1,145 | (8,561) | (3,040) |
Other taxes and duties | 3,498 | 3,330 | 3,209 |
Other taxes and duties included in production and manufacturing expenses | 1,245 | 1,107 | 1,052 |
Other taxes and duties included in SG&A expenses | 153 | 147 | 133 |
Total other taxes and duties | 4,896 | 4,584 | 4,394 |
Total | 6,041 | (3,977) | 1,354 |
Non-U.S. [Member] | |||
Income and Other Taxes [Line Items] | |||
Current | 9,001 | 6,633 | 4,056 |
Deferred - net | (614) | 754 | (1,422) |
Total federal and non-U.S. | 8,387 | 7,387 | 2,634 |
Total income tax expense | 8,387 | 7,387 | 2,634 |
Other taxes and duties | 29,165 | 26,774 | 25,811 |
Other taxes and duties included in production and manufacturing expenses | 857 | 747 | 808 |
Other taxes and duties included in SG&A expenses | 312 | 354 | 362 |
Total other taxes and duties | 30,334 | 27,875 | 26,981 |
Total | $ 38,721 | $ 35,262 | $ 29,615 |
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, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Effective Tax Rate [Line Items] | |||||
United States income before income taxes | $ 5,200 | $ (754) | $ (5,832) | ||
Non-U.S. income before income taxes | 25,753 | 19,428 | 13,801 | ||
Income before income taxes | 30,953 | 18,674 | 7,969 | ||
Theoretical tax | 6,500 | 6,536 | 2,789 | ||
Effect of equity method of accounting | (1,545) | (1,883) | (1,682) | ||
Non-U.S. taxes in excess of/(less than) theoretical U.S. tax | 4,626 | 1,848 | (582) | [1] | |
Other | 242 | (1,733) | [2] | (931) | [2] |
Total income tax expense | 9,532 | (1,174) | (406) | ||
ExxonMobil share of equity company income taxes | 3,142 | 2,228 | 1,692 | ||
Total income taxes | 12,674 | 1,054 | 1,286 | ||
Net income including noncontrolling interests | 21,421 | 19,848 | 8,375 | ||
Total income before taxes | $ 34,095 | $ 20,902 | $ 9,661 | ||
Effective income tax rate | 37.00% | 5.00% | 13.00% | ||
Adjustment to deferred taxes | $ 227 | ||||
Tax reserve adjustment | (548) | ||||
Exploration tax charge/(benefit) | $ (708) | (198) | |||
Adjustment to prior year tax position charge/(benefit) | (176) | ||||
Effect of U.S. tax reform | |||||
Effective Tax Rate [Line Items] | |||||
Effect of U.S. tax reform | $ (291) | (5,942) | |||
U.S. [Member] | |||||
Effective Tax Rate [Line Items] | |||||
Total income tax expense | 1,145 | (8,561) | (3,040) | ||
Non-U.S. [Member] | |||||
Effective Tax Rate [Line Items] | |||||
Total income tax expense | $ 8,387 | $ 7,387 | $ 2,634 | ||
[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, 2018 | Dec. 31, 2017 |
Income And Other Taxes [Abstract] | ||
Property, plant and equipment | $ 35,745 | $ 36,559 |
Other liabilities | 6,516 | 5,625 |
Total deferred tax liabilities | 42,261 | 42,184 |
Pension and other postretirement benefits | (4,115) | (4,338) |
Asset retirement obligations | (4,118) | (4,237) |
Tax loss carryforwards | (6,321) | (6,767) |
Other assets | (5,498) | (5,832) |
Total deferred tax assets | (20,052) | (21,174) |
Asset valuation allowances | 1,826 | 2,565 |
Net deferred tax liabilities | $ 24,035 | $ 23,575 |
Income And Other Taxes (Defer_2
Income And Other Taxes (Deferred Income Tax (Assets) And Liabilities By Balance Sheet Classification) (Details) - USD ($) $ in Millions | Dec. 31, 2018 | Dec. 31, 2017 |
Income And Other Taxes [Abstract] | ||
Other assets, including intangibles, net | $ (3,209) | $ (3,318) |
Deferred income tax liabilities | 27,244 | 26,893 |
Net deferred tax liabilities | $ 24,035 | $ 23,575 |
Income And Other Taxes (Unrecog
Income And Other Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income And Other Taxes [Abstract] | |||
Balance at January 1 | $ 8,783 | $ 9,468 | $ 9,396 |
Additions based on current year's tax positions | 375 | 522 | 655 |
Additions for prior years' tax positions | 240 | 523 | 534 |
Reductions for prior years' tax positions | (125) | (865) | (1,019) |
Reductions due to lapse of the statute of limitations | (5) | (113) | (7) |
Settlements with tax authorities | (68) | (782) | (70) |
Foreign exchange effects/other | (26) | 30 | (21) |
Balance at December 31 | $ 9,174 | $ 8,783 | $ 9,468 |
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, 2018 | |
Abu Dhabi [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,018 |
Abu Dhabi [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,018 |
Angola [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,017 |
Angola [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,018 |
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 | 2,018 |
Belgium [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,016 |
Belgium [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,018 |
Canada [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,000 |
Canada [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,018 |
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 | 2,018 |
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 | 2,018 |
Iraq [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,013 |
Iraq [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,018 |
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 | 2,018 |
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 | 2,018 |
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 | 2,018 |
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 | 2,018 |
Russia [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,016 |
Russia [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2,018 |
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 | 2,018 |
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 | 2,018 |