Document And Entity Information
Document And Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2019 | Jan. 31, 2020 | Jun. 28, 2019 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Transition Report | false | ||
Entity File Number | 1-2256 | ||
Entity Registrant Name | Exxon Mobil Corporation | ||
Entity Incorporation State Country Code | NJ | ||
Entity Tax Identification Number | 13-5409005 | ||
Entity Address Address Line 1 | 5959 Las Colinas Boulevard | ||
Entity Address City or Town | Irving | ||
Entity Address State or Province | TX | ||
Entity Address Postal Zip Code | 75039-2298 | ||
City Area Code | 972 | ||
Local Phone Number | 940-6000 | ||
Security 12(b) Title | Common Stock, without par value | ||
Trading Symbol | XOM | ||
Security Exchange Name | NYSE | ||
Entity Well Known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 324 | ||
Entity Common Stock Shares Outstanding | 4,232,190,744 | ||
Documents Incorporated By Reference Text Block | Proxy Statement for the 2020 Annual Meeting of Shareholders (Part III) | ||
Document Fiscal Period Focus | FY | ||
Entity Central Index Key | 0000034088 | ||
Current Fiscal Year End Date | --12-31 |
Consolidated Statement Of Incom
Consolidated Statement Of Income - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Revenues and other income | ||||
Sales and other operating revenue | $ 255,583 | $ 279,332 | $ 237,162 | |
Income from equity affiliates | 5,441 | 7,355 | 5,380 | |
Other income | 3,914 | 3,525 | 1,821 | |
Total revenues and other income | 264,938 | 290,212 | 244,363 | |
Costs and other deductions | ||||
Crude oil and product purchases | 143,801 | 156,172 | 128,217 | |
Production and manufacturing expenses | 36,826 | 36,682 | 32,690 | |
Selling, general and administrative expenses | 11,398 | 11,480 | 10,649 | |
Depreciation and depletion | 18,998 | 18,745 | 19,893 | |
Exploration expenses, including dry holes | 1,269 | 1,466 | 1,790 | |
Non-service pension and postretirement benefit expense | 1,235 | 1,285 | 1,745 | |
Interest expense | 830 | 766 | 601 | |
Other taxes and duties | 30,525 | 32,663 | 30,104 | |
Total costs and other deductions | 244,882 | 259,259 | 225,689 | |
Income before income taxes | 20,056 | 30,953 | 18,674 | |
Income taxes | 5,282 | 9,532 | (1,174) | |
Net income including noncontrolling interests | 14,774 | 21,421 | 19,848 | |
Net income attributable to noncontrolling interests | 434 | 581 | 138 | |
Net income attributable to ExxonMobil | $ 14,340 | $ 20,840 | $ 19,710 | |
Earnings per common share (dollars) | [1] | $ 3.36 | $ 4.88 | $ 4.63 |
Earnings per common share - assuming dilution (dollars) | $ 3.36 | $ 4.88 | $ 4.63 | |
[1] | 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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Consolidated Statement Of Comprehensive Income [Abstract] | |||
Net income including noncontrolling interests | $ 14,774 | $ 21,421 | $ 19,848 |
Other comprehensive income (net of income taxes) | |||
Foreign exchange translation adjustment | 1,735 | (5,077) | 5,352 |
Adjustment for foreign exchange translation (gain)/loss included in net income | 196 | 234 | |
Postretirement benefits reserves adjustment (excluding amortization) | (2,092) | 280 | (219) |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | 582 | 931 | 1,165 |
Total other comprehensive income | 225 | (3,670) | 6,532 |
Comprehensive income including noncontrolling interests | 14,999 | 17,751 | 26,380 |
Comprehensive income attributable to noncontrolling interests | 588 | 174 | 693 |
Comprehensive income attributable to ExxonMobil | $ 14,411 | $ 17,577 | $ 25,687 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets | ||
Cash and cash equivalents | $ 3,089 | $ 3,042 |
Notes and accounts receivable, less estimated doubtful amounts | 26,966 | 24,701 |
Inventories | ||
Crude oil, products and merchandise | 14,010 | 14,803 |
Materials and supplies | 4,518 | 4,155 |
Other current assets | 1,469 | 1,272 |
Total current assets | 50,052 | 47,973 |
Investments, advances and long-term receivables | 43,164 | 40,790 |
Property, plant and equipment, at cost, less accumulated depreciation and depletion | 253,018 | 247,101 |
Other assets, including intangibles, net | 16,363 | 10,332 |
Total assets | 362,597 | 346,196 |
Current liabilities | ||
Notes and loans payable | 20,578 | 17,258 |
Accounts payable and accrued liabilities | 41,831 | 37,268 |
Income taxes payable | 1,580 | 2,612 |
Total current liabilities | 63,989 | 57,138 |
Long-term debt | 26,342 | 20,538 |
Postretirement benefits reserves | 22,304 | 20,272 |
Deferred income tax liabilities | 25,620 | 27,244 |
Long-term obligations to equity companies | 3,988 | 4,382 |
Other long-term obligations | 21,416 | 18,094 |
Total liabilities | 163,659 | 147,668 |
Commitments and contingencies | ||
Equity | ||
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 15,637 | 15,258 |
Earnings reinvested | 421,341 | 421,653 |
Accumulated other comprehensive income | (19,493) | (19,564) |
Common stock held in treasury (3,785 million shares in 2019 and 3,782 million shares in 2018) | (225,835) | (225,553) |
ExxonMobil share of equity | 191,650 | 191,794 |
Noncontrolling interests | 7,288 | 6,734 |
Total equity | 198,938 | 198,528 |
Total liabilities and equity | $ 362,597 | $ 346,196 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Consolidated Balance Sheet [Abstract] | ||
Common stock, without par value | ||
Common stock, shares authorized | 9,000 | 9,000 |
Common stock, shares issued | 8,019 | 8,019 |
Common stock held in treasury, shares | 3,785 | 3,782 |
Consolidated Statement Of Cash
Consolidated Statement Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities | |||
Net income including noncontrolling interests | $ 14,774 | $ 21,421 | $ 19,848 |
Adjustments for noncash transactions | |||
Depreciation and depletion | 18,998 | 18,745 | 19,893 |
Deferred income tax charges/(credits) | (944) | (60) | (8,577) |
Postretirement benefits expense in excess of/(less than) net payments | 109 | 1,070 | 1,135 |
Other long-term obligation provisions in excess of/(less than) payments | (3,038) | (68) | (610) |
Dividends received greater than/(less than) equity in current earnings of equity companies | (936) | (1,684) | 131 |
Changes in operational working capital, excluding cash and debt | |||
Reduction/(increase) - Notes and accounts receivable | (2,640) | (545) | (3,954) |
Reduction/(increase) - Inventories | 72 | (3,107) | (1,682) |
Reduction/(increase) - Other current assets | (234) | (25) | (117) |
Increase/(reduction) - Accounts and other payables | 3,725 | 2,321 | 5,104 |
Net (gain) on asset sales | (1,710) | (1,993) | (334) |
All other items - net | 1,540 | (61) | (771) |
Net cash provided by operating activities | 29,716 | 36,014 | 30,066 |
Cash flows from investing activities | |||
Additions to property, plant and equipment | (24,361) | (19,574) | (15,402) |
Proceeds associated with sales of subsidiaries, property, plant and equipment, and sales and returns of investments | 3,692 | 4,123 | 3,103 |
Additional investments and advances | (3,905) | (1,981) | (5,507) |
Other investing activities including collection of advances | 1,490 | 986 | 2,076 |
Net cash used in investing activities | (23,084) | (16,446) | (15,730) |
Cash flows from financing activities | |||
Additions to long-term debt | 7,052 | 46 | 60 |
Reductions in long-term debt | (1) | ||
Additions to short-term debt | 1,735 | ||
Reductions in short-term debt | (4,043) | (4,752) | (5,024) |
Additions/(reductions) in commercial paper, and debt with three months or less maturity | 5,654 | (219) | 2,181 |
Cash dividends to ExxonMobil shareholders | (14,652) | (13,798) | (13,001) |
Cash dividends to noncontrolling interests | (192) | (243) | (184) |
Changes in noncontrolling interests | 158 | 146 | (150) |
Common stock acquired | (594) | (626) | (747) |
Net cash used in financing activities | (6,618) | (19,446) | (15,130) |
Effects of exchange rate changes on cash | 33 | (257) | 314 |
Increase/(decrease) in cash and cash equivalents | 47 | (135) | (480) |
Cash and cash equivalents at beginning of year | 3,042 | 3,177 | 3,657 |
Cash and cash equivalents at end of year | $ 3,089 | $ 3,042 | $ 3,177 |
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, 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 | ||||||
Amortization of stock-based awards | $ 697 | 697 | 697 | ||||
Other | 171 | (318) | (318) | 489 | |||
Net income for the year | 14,774 | 14,340 | 14,340 | 434 | |||
Dividends - common shares (company) | (14,652) | (14,652) | |||||
Dividends - common shares (NCI) | (192) | ||||||
Dividends - common shares (total) | (14,844) | ||||||
Other comprehensive income | 225 | 71 | 71 | 154 | |||
Acquisitions, at cost (company) | (594) | (594) | |||||
Acquisitions, at cost (NCI) | (331) | ||||||
Acquisitions, at cost (total) | (925) | ||||||
Dispositions | $ 312 | 312 | 312 | ||||
Acquisitions (in shares) | (8) | ||||||
Dispositions (in shares) | 5 | ||||||
Balance at Dec. 31, 2019 | $ 198,938 | $ 15,637 | $ 421,341 | $ (19,493) | $ (225,835) | $ 191,650 | $ 7,288 |
Balance (in shares) - issued at Dec. 31, 2019 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2019 | (3,785) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2019 | 4,234 |
Summary Of Accounting Policies
Summary Of Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
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 long-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 which 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 that is other than temporary. Examples of key indicators include a history 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 temporary loss in fair value below carrying amount is determined, an impairment is recognized. In the absence of market prices for the investment, discounted cash flows are used to assess fair value. Investments in equity securities other than consolidated subsidiaries 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 approach 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 translation 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 market prices. In some cases (e.g., natural gas), products may be sold under long-term agreements, with periodic price adjustments to reflect market conditions. Revenue is recognized at the amount the Corporation expects to receive when the customer has taken control, which is typically when title transfers and the customer has 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 realizations 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 significant. Contract liabilities are mainly customer prepayments and accruals of expected volume discounts and are not significant. Income and Other Taxes The 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 (included 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. Derivative Instruments The Corporation may use derivative instruments for trading purposes and to offset exposures associated with commodity prices, foreign currency exchange rates and interest rates that arise from existing assets, liabilities, firm commitments and forecasted transactions. All derivative instruments, except those designated as normal purchase and normal sale, are recorded at fair value. Derivative assets and liabilities with the same counterparty 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 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. 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 of 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 condition 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 Corporation uses the “successful efforts” method to account for its exploration and production activities. Under this method, costs are accumulated on a field-by-field basis. Costs incurred to purchase, lease, or otherwise acquire a property (whether unproved or proved) are capitalized when incurred. Exploratory well costs are carried as an asset when the well has found a sufficient quantity of reserves to justify its completion as a producing well and where the Corporation is making sufficient progress assessing the reserves and the economic and operating viability of the project. Exploratory well costs not meeting these criteria are charged to expense. Other exploratory expenditures, including geophysical costs and annual lease rentals, are expensed as incurred. Development costs, including costs of productive wells and development dry 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 straight-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 than the reserves, and as such, the Corporation uses 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 produce such that the resulting depreciation charge does not result in an equitable allocation of cost over the expected life, assets will be depreciated using a unit-of-production method based on reserves determined at the most recent SEC price which results 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 events 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, including an adverse action or assessment by a regulator; an accumulation of project costs significantly in excess of the amount originally expected; a current-period operating loss combined with a history and forecast of operating or cash flow losses; and a current expectation that, more likely than not, a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. Asset valuation analysis, profitability reviews and other periodic control processes 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 continue to be driven by market supply and demand fundamentals. On the supply side, industry production from mature fields is declining. This is being offset by investments to generate production from new discoveries, field developments and technology and efficiency advancements. OPEC investment activities and production policies also have an impact on world oil supplies. The 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 development and production costs. During the lifespan of these major assets, the Corporation expects that oil and gas prices will experience significant volatility, and consequently these assets will experience periods of higher earnings and periods of lower earnings, or even losses. In assessing whether the events or changes in circumstances indicate the carrying value of an asset may not be recoverable, the Corporation considers recent periods of operating losses in the context of its longer-term view of prices. While near-term prices are subject to wide fluctuations, longer-term price views are more stable and meaningful for purposes of assessing future cash flows. When the industry experiences a prolonged and deep reduction in commodity prices, the market supply and demand conditions may result in changes to the Corporation’s long-term price or margin assumptions it uses for its capital investment decisions. To the extent those changes result in a significant reduction to its long-term oil price, natural gas price or margin ranges, the Corporation may consider that situation, in conjunction with other events or changes in circumstances such as a history of operating losses, an indicator of potential impairment for certain assets. In the Upstream, the standardized measure of discounted cash flows included in the Supplemental Information on Oil and Gas Exploration and Production activities is required to use prices based on the average of first-of-month prices. These prices represent discrete points in time and could be higher or lower than the Corporation’s long-term price assumptions which are used for impairment assessments. The Corporation believes the standardized measure does not provide a reliable estimate of the expected future cash flows to be obtained from the development and production of its oil and gas properties or of the value of its oil and gas reserves and therefore does not consider it relevant in determining whether events or changes in circumstances indicate the need for an impairment assessment. 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. 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 criteria 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 including price differentials, refining and chemical margins, volumes, development and operating costs, and foreign currency exchange rates. Volumes are based on projected field and facility production profiles, throughput, or sales. Management’s estimate of upstream production volumes used for projected cash flows makes use of proved reserve quantities and may include risk-adjusted unproved reserve quantities. Cash flow estimates 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 valuation allowances against the capitalized costs are recorded based on the estimated economic chance of success and the length of time that the Corporation expects to hold the properties. Properties that are not individually significant are aggregated by groups and amortized based on development risk and average holding period. Other. Gains on sales of proved and unproved properties are only recognized when there is neither uncertainty about the recovery of costs applicable to any interest retained nor any substantial obligation for future performance by the Corporation. Losses on properties sold are recognized when incurred or when the 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 The Corporation incurs retirement obligations for certain assets. The fair values of these obligations are recorded as liabilities on a discounted basis, which is typically at the time the assets are installed. The costs associated with these liabilities are capitalized as part of the related assets and depreciated. Over time, the liabilities are accreted for the change in their present value. Liabilities for environmental costs are recorded when it is probable that obligations have been incurred and the amounts can be reasonably estimated. These liabilities are not reduced by possible recoveries from third parties, and projected cash expenditures are not discounted. Foreign Currency Translation The Corporation selects the functional reporting currency for its international subsidiaries based on the currency of the primary economic environment in which each subsidiary 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. For 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, 2019 | |
Accounting Changes [Abstract] | |
Accounting Changes | 2. Accounting Changes 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 used a transition method that applies the new lease standard at January 1, 2019. The Corporation applied a policy election to exclude short-term leases from balance sheet recognition and also elected certain practical expedients at adoption. As permitted, the Corporation did not reassess whether existing contracts are or contain leases, the lease classification for any existing leases, initial direct costs for any existing lease and whether existing land easements and rights of way, which were not previously accounted for as leases, are or contain a lease. At adoption on January 1, 2019, an operating lease liability of $ 3.3 billion was recorded and the operating lease right of use asset was $ 4.3 billion, including $ 1.0 billion of previously recorded prepaid leases. There was no cumulative earnings effect adjustment. Effective January 1, 2020, the Corporation adopted the Financial Accounting Standards Board’s update, Financial Instruments – Credit Losses (Topic 326) , as amended. The standard requires a valuation allowance for credit losses be recognized for certain financial assets that reflects the current expected credit loss over the asset’s contractual life. The valuation allowance considers the risk of loss, even if remote, and considers past events, current conditions and expectations of the future. The standard is not expected to have a material impact on the Corporation’s financial statements. |
Miscellaneous Financial Informa
Miscellaneous Financial Information | 12 Months Ended |
Dec. 31, 2019 | |
Miscellaneous Financial Information [Abstract] | |
Miscellaneous Financial Information | 3. Miscellaneous Financial Information Research and development expenses totaled $ 1,214 million in 2019, $ 1,116 million in 2018, and $ 1,063 million in 2017. Net income included before-tax aggregate foreign exchange transaction losses of $ 104 million and $ 138 million in 2019 and 2018, respectively, and a gain of $ 6 million in 2017. In 2019, 2018, and 2017, net income included gains of $ 523 million and $ 107 million, and a loss of $ 10 million, respectively, attributable to the combined effects of LIFO inventory accumulations and drawdowns. The aggregate replacement cost of inventories was estimated to exceed their LIFO carrying values by $ 9.7 billion and $ 8.2 billion at December 31, 2019, and 2018, respectively. Crude oil, products and merchandise as of year-end 2019 and 2018 consist of the following: 2019 2018 (millions of dollars) Crude oil 5,111 4,783 Petroleum products 5,281 5,666 Chemical products 3,240 3,821 Gas/other 378 533 Total 14,010 14,803 |
Other Comprehensive Income Info
Other Comprehensive Income Information | 12 Months Ended |
Dec. 31, 2019 | |
Other Comprehensive Income Information [Abstract] | |
Other Comprehensive Income Information | 4. Other Comprehensive Income Information Cumulative Post- Foreign retirement Exchange Benefits ExxonMobil Share of Accumulated Other Translation Reserves Comprehensive Income Adjustment Adjustment Total (millions of dollars) Balance as of December 31, 2016 ( 14,501) ( 7,738) ( 22,239) Current period change excluding amounts reclassified from accumulated other comprehensive income 4,879 ( 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) Current period change excluding amounts reclassified from accumulated other comprehensive income 1,435 ( 1,927) ( 492) Amounts reclassified from accumulated other comprehensive income - 563 563 Total change in accumulated other comprehensive income 1,435 ( 1,364) 71 Balance as of December 31, 2019 ( 12,446) ( 7,047) ( 19,493) Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) 2019 2018 2017 (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) ( 751) ( 1,208) ( 1,656) Income Tax (Expense)/Credit For Components of Other Comprehensive Income 2019 2018 2017 (millions of dollars) Foreign exchange translation adjustment 88 32 67 Postretirement benefits reserves adjustment (excluding amortization) 719 ( 193) 201 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs ( 169) ( 277) ( 491) Total 638 ( 438) ( 223) |
Cash Flow Information
Cash Flow Information | 12 Months Ended |
Dec. 31, 2019 | |
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 2019, the “Net (gain) on asset sales” on the Consolidated Statement of Cash Flows includes before-tax amounts from the sale of non-operated upstream assets in Norway and upstream asset transactions in the U.S. For 2018, the number 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 2017, 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. These net gains are reported in “Other income” on the Consolidated Statement of Income. In 2019, the “Additions/(reductions) in commercial paper, and debt with three months or less maturity” on the Consolidated Statement of Cash Flows includes a net $ 4.6 billion addition of commercial paper with maturity over three months. The gross amount issued was $ 18.9 billion, while the gross amount repaid was $ 14.3 billion. In 2018, the number includes a net $ 275 million addition of commercial paper with maturity over three months. The gross amount issued was $ 4.0 billion, while the gross amount repaid was $ 3.8 billion. In 2017, 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 amount repaid was $ 3.7 billion. In 2017, the Corporation completed 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 included 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. 2019 2018 2017 (millions of dollars) Income taxes paid 7,018 9,294 7,510 Cash interest paid Included in cash flows from operating activities 560 303 383 Capitalized, included in cash flows from investing activities 731 652 749 Total cash interest paid 1,291 955 1,132 |
Additional Working Capital Info
Additional Working Capital Information | 12 Months Ended |
Dec. 31, 2019 | |
Additional Working Capital Information [Abstract] | |
Additional Working Capital Information | 6. Additional Working Capital Information Dec. 31 Dec. 31 2019 2018 (millions of dollars) Notes and accounts receivable Trade, less reserves of $ 34 million and $ 61 million 21,100 19,638 Other, less reserves of $ 371 million and $ 339 million 5,866 5,063 Total 26,966 24,701 Notes and loans payable Bank loans 316 325 Commercial paper 18,561 12,863 Long-term debt due within one year 1,701 4,070 Total 20,578 17,258 Accounts payable and accrued liabilities Trade payables 24,694 21,063 Payables to equity companies 6,825 6,863 Accrued taxes other than income taxes 3,301 3,280 Other 7,011 6,062 Total 41,831 37,268 The Corporation has short-term committed lines of credit of $ 7.9 billion which were unused as of December 31, 2019. These lines are available for general corporate purposes. The weighted-average interest rate on short-term borrowings outstanding was 1.7 percent and 2.4 percent at December 31, 2019, and 2018, respectively. |
Equity Company Information
Equity Company Information | 12 Months Ended |
Dec. 31, 2019 | |
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) operations 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 ExxonMobil consolidated companies was 13 percent, 14 percent and 15 percent in the years 2019, 2018 and 2017, respectively. The Corporation’s ownership in these ventures is in the form of shares in corporate joint ventures as well as interests in partnerships. Differences between the company’s carrying value of an equity investment and its underlying equity in the net assets of the affiliate are assigned to the extent practicable to specific assets and liabilities based on the company’s analysis of the factors giving rise to the difference. The amortization of this difference, as appropriate, is included in “Income from equity affiliates” on the Consolidated Statement of Income. 2019 2018 2017 Equity Company ExxonMobil ExxonMobil ExxonMobil Financial Summary Total Share Total Share Total Share (millions of dollars) Total revenues 102,365 31,240 112,938 34,539 94,791 29,340 Income before income taxes 29,424 7,927 37,203 10,482 29,748 8,498 Income taxes 9,725 2,500 11,568 3,151 8,421 2,236 Income from equity affiliates 19,699 5,427 25,635 7,331 21,327 6,262 Current assets 36,035 12,661 38,670 13,394 35,367 12,050 Long-term assets 143,321 40,001 128,830 35,970 122,221 34,931 Total assets 179,356 52,662 167,500 49,364 157,588 46,981 Current liabilities 24,583 6,939 27,324 7,606 21,725 6,348 Long-term liabilities 61,022 18,158 56,913 17,109 59,736 17,056 Net assets 93,751 27,565 83,263 24,649 76,127 23,577 A list of significant equity companies as of December 31, 2019, 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 Coral FLNG, S.A. 25 Cross Timbers Energy, LLC 50 Golden Pass Pipeline LLC 30 Golden Pass LNG Terminal LLC 30 Marine Well Containment Company LLC 10 Mozambique Rovuma Venture, S.p.A. 36 Nederlandse Aardolie Maatschappij B.V. 50 Papua New Guinea Liquefied Natural Gas Global Company LDC 33 Permian Highway Pipeline LLC 20 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 Alberta Products Pipe Line Ltd. 45 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 LLP 50 Saudi Yanbu Petrochemical Co. 50 |
Investments, Advances And Long-
Investments, Advances And Long-Term Receivables | 12 Months Ended |
Dec. 31, 2019 | |
Investments, Advances And Long-Term Receivables [Abstract] | |
Investments, Advances And Long-Term Receivables | 8. Investments, Advances and Long-Term Receivables Dec. 31, Dec. 31, 2019 2018 (millions of dollars) Equity method company investments and advances Investments 29,291 26,382 Advances 8,542 8,608 Total equity method company investments and advances 37,833 34,990 Equity securities carried at fair value and other investments at adjusted cost basis 190 210 Long-term receivables and miscellaneous, net of reserves of $ 5,643 million and $ 5,471 million 5,141 5,590 Total 43,164 40,790 |
Property, Plant And Equipment A
Property, Plant And Equipment And Asset Retirement Obligations | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 December 31, 2018 Property, Plant and Equipment Cost Net Cost Net (millions of dollars) Upstream 376,041 196,767 372,791 194,662 Downstream 52,527 24,506 48,241 21,448 Chemical 40,788 21,260 39,008 20,551 Other 17,346 10,485 17,150 10,440 Total 486,702 253,018 477,190 247,101 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 2019, 2018 and 2017, the before-tax impairment charges were $ 0.1 billion, $ 0.7 billion and $ 2.0 billion, respectively. Accumulated depreciation and depletion totaled $ 233,684 million at the end of 2019 and $ 230,089 million at the end of 2018. Interest capitalized in 2019, 2018 and 2017 was $ 731 million, $ 652 million and $ 749 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, the Corporation uses assumptions 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; discount rates; and inflation rates. Asset retirement obligations incurred in the current period were Level 3 fair value measurements. The costs associated with these liabilities are capitalized as part of the related assets and depreciated as the reserves are 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: 2019 2018 (millions of dollars) Beginning balance 12,103 12,705 Accretion expense and other provisions 649 681 Reduction due to property sales ( 1,085) ( 333) Payments made ( 827) ( 600) Liabilities incurred 89 46 Foreign currency translation 84 ( 481) Revisions 267 85 Ending balance 11,280 12,103 The long-term Asset Retirement Obligations were $ 10,279 million and $ 11,185 million at December 31, 2019, and 2018, respectively, and are included in “Other long-term obligations.” |
Accounting For Suspended Explor
Accounting For Suspended Exploratory Well Costs | 12 Months Ended |
Dec. 31, 2019 | |
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 operating 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: 2019 2018 2017 (millions of dollars) Balance beginning at January 1 4,160 3,700 4,477 Additions pending the determination of proved reserves 532 564 906 Charged to expense ( 46) ( 7) ( 1,205) Reclassifications to wells, facilities and equipment based on the determination of proved reserves ( 37) ( 48) ( 497) Divestments/Other 4 ( 49) 19 Ending balance at December 31 4,613 4,160 3,700 Ending balance attributed to equity companies included above 306 306 306 Period end capitalized suspended exploratory well costs: 2019 2018 2017 (millions of dollars) Capitalized for a period of one year or less 532 564 906 Capitalized for a period of between one and five years 2,206 2,028 1,345 Capitalized for a period of between five and ten years 1,411 1,150 1,064 Capitalized for a period of greater than ten years 464 418 385 Capitalized for a period greater than one year - subtotal 4,081 3,596 2,794 Total 4,613 4,160 3,700 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 number of projects with only exploratory well costs capitalized for a period of one year or less and those that have had exploratory well costs capitalized for a period greater than one year. 2019 2018 2017 Number of projects that only have exploratory well costs capitalized for a period of one year or less 4 6 11 Number of projects that have exploratory well costs capitalized for a period greater than one year 46 52 46 Total 50 58 57 Of the 46 projects that have exploratory well costs capitalized for a period greater than one year as of December 31, 2019, 14 projects have drilling in the preceding year or exploratory activity planned in the next two years, while the remaining 32 projects are those with completed exploratory activity progressing toward development. The table below provides additional detail for those 32 projects, which total $ 3,176 million. Years Wells Dec. 31, Drilled / Country/Project 2019 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 315 1994 - 2015 Evaluating development plans to tie into existing LNG facilities. - SE Longtom 10 2010 Gas field near Tuna development, awaiting capacity in existing/planned infrastructure. - SE Remora 32 2010 Gas field near Marlin development, awaiting capacity in existing/planned infrastructure. Guyana - Payara 120 2017 - 2018 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. 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 2019 Acquired Comment (millions of dollars) Papua New Guinea - Papua LNG 246 2017 Evaluating/progressing development plans. - P'nyang 115 2012 - 2018 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. Tanzania - Tanzania Block 2 537 2012 - 2018 Evaluating development alternatives while continuing discussions with the government regarding development plan. Vietnam - Blue Whale 296 2011 - 2015 Evaluating/progressing development plans. Total 2019 (32 projects) 3,176 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Lessee Disclosure [Abstract] | |
Leases | 11. Leases The Corporation and its consolidated affiliates generally purchase the property, plant and equipment used in operations, but there are situations where assets are leased, primarily for drilling equipment, tankers, office buildings, railcars, and other moveable equipment. Right of use assets and lease liabilities are established on the balance sheet for leases with an expected term greater than one year, by discounting the amounts fixed in the lease agreement for the duration of the lease which is reasonably certain, considering the probability of exercising any early termination and extension options. The portion of the fixed payment related to service costs for drilling equipment, tankers and finance leases is excluded from the calculation of right of use assets and lease liabilities. Generally assets are leased only for a portion of their useful lives, and are accounted for as operating leases. In limited situations assets are leased for nearly all of their useful lives, and are accounted for as finance leases. Variable payments under these lease agreements are not significant. Residual value guarantees, restrictions, or covenants related to leases, and transactions with related parties are also not significant. In general, leases are capitalized using the incremental borrowing rate of the leasing affiliate. The Corporation’s activities as a lessor are not significant. At adoption of the lease accounting change (see Note 2), on January 1, 2019, an operating lease liability of $ 3.3 billion was recorded and the operating lease right of use asset was $ 4.3 billion, including $ 1.0 billion of previously recorded prepaid leases. There was no Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Lease Cost 2019 Operating lease cost 238 1,196 1,434 Short-term and other (net of sublease rental income) 926 1,116 2,042 Amortization of right of use assets 121 Interest on lease liabilities 133 Total 1,164 2,312 3,476 254 Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Balance Sheet December 31, 2019 Right of use assets Included in Other assets, including intangibles - net 572 6,061 6,633 Included in Property, plant and equipment - net 1,997 Total right of use assets 572 6,061 6,633 1,997 Lease liability due within one year Included in Accounts payable and accrued liabilities 221 990 1,211 15 Included in Notes and loans payable 84 Long-term lease liability Included in Other long-term obligations 330 4,152 4,482 Included in Long-term debt 1,670 Included in Long-term obligations to equity companies 139 Total lease liability 551 5,142 5,693 1,908 Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Maturity Analysis of Lease Liabilities December 31, 2019 2020 234 1,127 1,361 271 2021 134 886 1,020 576 2022 73 625 698 174 2023 45 468 513 173 2024 30 425 455 172 2025 and beyond 72 2,681 2,753 2,446 Total lease payments 588 6,212 6,800 3,812 Discount to present value ( 37) ( 1,070) ( 1,107) ( 1,904) Total lease liability 551 5,142 5,693 1,908 Weighted average remaining lease term - years 4 11 10 20 Weighted average discount rate - percent 3.1% 3.2% 3.2% 9.7% In addition to the lease liabilities in the table immediately above, at December 31, 2019, undiscounted commitments for leases not yet commenced totaled $ 848 million for operating leases and $ 3,721 million for finance leases. The finance leases relate to floating production storage and offloading vessels, LNG transportation vessels, and a long-term hydrogen purchase agreement. The underlying assets for these finance leases were primarily designed by, and are being constructed by, the lessors. Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Other Information 2019 Cash paid for amounts included in the measurement of lease liabilities Cash flows from operating activities 1,116 1,116 54 Cash flows from investing activities 258 258 Cash flows from financing activities 177 Noncash right of use assets recorded for lease liabilities For January 1 adoption of Topic 842 445 2,818 3,263 In exchange for new lease liabilities during the period 350 3,313 3,663 422 Disclosures under the previous lease standard (ASC 840) Net rental cost incurred under both cancelable and noncancelable operating leases was $ 2,715 million in 2018 and $ 2,618 million in 2017. At December 31, 2018, minimum undiscounted lease commitments under noncancelable operating leases and charters for 2019 and beyond were $ 6,112 million. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 12. Earnings Per Share Earnings per common share 2019 2018 2017 Net income attributable to ExxonMobil (millions of dollars) 14,340 20,840 19,710 Weighted average number of common shares outstanding (millions of shares) 4,270 4,270 4,256 Earnings per common share (dollars) (1) 3.36 4.88 4.63 Dividends paid per common share (dollars) 3.43 3.23 3.06 (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, 2019 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments And Derivatives | 13. Financial Instruments and Derivatives Financial Instruments. The estimated fair value of financial instruments at December 31, 2019 and December 31, 2018, and the related hierarchy level for the fair value measurement is as follows: At December 31, 2019 (millions of dollars) Fair Value Difference Total Gross Effect of Effect of in Carrying Net Assets Counterparty Collateral Value and Carrying Level 1 Level 2 Level 3 & Liabilities Netting Netting Fair Value Value Assets Derivative assets (1) 533 102 - 635 ( 463) ( 70) - 102 Advances to/receivables from equity companies (2)(7) - 1,941 6,729 8,670 - - ( 128) 8,542 Other long-term financial assets (3) 1,145 - 974 2,119 - - 44 2,163 Liabilities Derivative liabilities (4) 568 70 - 638 ( 463) ( 105) - 70 Long-term debt (5) 25,652 134 3 25,789 - - ( 1,117) 24,672 Long-term obligations to equity companies (7) - - 4,245 4,245 - - ( 257) 3,988 Other long-term financial liabilities (6) - - 1,042 1,042 - - 16 1,058 At December 31, 2018 (millions of dollars) Fair Value Difference Total Gross Effect of Effect of in Carrying Net Assets Counterparty Collateral Value and Carrying Level 1 Level 2 Level 3 & Liabilities Netting Netting Fair Value Value 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 lines: Notes and accounts receivable, less estimated doubtful amounts and Other assets, including intangibles, net (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 lines: Accounts payable and accrued liabilities and Other long-term obligations (5) Excluding finance 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 company. The increase in the estimated fair value and book value of long-term debt reflects the Corporation’s issuance of $ 7.0 billion of long-term debt in the third quarter of 2019. 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. Commodity contracts held for trading purposes are presented in the Consolidated Statement of Income on a net basis in the line “Sales and other operating revenue”. The Corporation’s commodity derivatives are not accounted for under hedge accounting. At times, the Corporation also enters into currency and interest rate derivatives, none of which are material to the Corporation’s financial position as of December 31, 2019 and 2018, or results of operations for the years ended 2019, 2018 and 2017. Credit risk associated with the Corporation’s derivative position is mitigated by several factors, including the use of derivative clearing exchanges and the quality of and financial limits placed on derivative counterparties. The Corporation maintains a system of controls that includes the authorization, reporting and monitoring of derivative activity. At December 31, 2019, the net notional long/(short) position of derivative instruments was 57 million barrels for crude oil, ( 38) million barrels for products, and ( 165) million MMBtus of natural gas. At December 31, 2018, the net notional long/(short) position of derivative instruments was ( 19) million barrels for crude oil and was ( 9) million barrels for products. Realized and unrealized 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: 2019 2018 2017 (millions of dollars) Sales and other operating revenue ( 412) 130 6 Crude oil and product purchases 179 ( 120) ( 105) Total ( 233) 10 ( 99) |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2019 | |
Long-Term Debt [Abstract] | |
Long-Term Debt | 14. Long-Term Debt At December 31, 2019, long-term debt consisted of $ 25,710 million due in U.S. dollars and $ 632 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 $ 1,617 million, which matures within one year and is included in current liabilities. The increase in the book value of long-term debt reflects the Corporation’s issuance of $ 7.0 billion of long-term debt in the third quarter of 2019. The amounts of long-term debt, excluding finance lease obligations, maturing in each of the four years after December 31, 2020, in millions of dollars, are: 2021 – $ 2,803; 2022 – $ 3,316; 2023 – $ 1,261; and 2024 – $ 2,130. At December 31, 2019, the Corporation’s unused long-term credit lines were $ 0.2 billion. Summarized long-term debt at year-end 2019 and 2018 are shown in the table below: Average Rate (1) 2019 2018 (millions of dollars) Exxon Mobil Corporation 1.912% notes due 2020 - 1,500 2.222% notes due 2021 2,500 2,500 2.397% notes due 2022 (Issued 2015) 1,150 1,150 1.902% notes due 2022 (Issued 2019) 750 - Floating-rate notes due 2022 (Issued 2015) 2.792% 500 500 Floating-rate notes due 2022 (Issued 2019) 2.414% 750 - 2.726% notes due 2023 1,250 1,250 3.176% notes due 2024 (Issued 2014) 1,000 1,000 2.019% notes due 2024 (Issued 2019) 1,000 - 2.709% notes due 2025 1,750 1,750 3.043% notes due 2026 (Issued 2016) 2,500 2,500 2.275% notes due 2026 (Issued 2019) 1,000 - 2.440% notes due 2029 1,250 - 2.995% notes due 2039 750 - 3.567% notes due 2045 1,000 1,000 4.114% notes due 2046 2,500 2,500 3.095% notes due 2049 1,500 - XTO Energy Inc. (2) 6.100% senior notes due 2036 193 195 6.750% senior notes due 2037 296 299 6.375% senior notes due 2038 229 230 Mobil Corporation 8.625% debentures due 2021 250 250 Industrial revenue bonds due 2020-2051 1.388% 2,461 2,513 Other U.S. dollar obligations 89 102 Other foreign currency obligations 64 38 Finance lease obligations 9.518% 1,670 1,303 Debt issuance costs ( 60) ( 42) Total long-term debt 26,342 20,538 (1) Average effective interest rate for debt and average imputed interest rate for finance leases at December 31, 2019. (2) Includes premiums of $ 92 million in 2019 and $ 97 million in 2018. |
Incentive Program
Incentive Program | 12 Months Ended |
Dec. 31, 2019 | |
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 awards. 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 maximum 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 2019, remaining shares available for award under the 2003 Incentive Program were 76 million. Restricted Stock and Restricted Stock Units. Awards totaling 8,936 thousand, 8,771 thousand, and 8,916 thousand of restricted (nonvested) common stock units were granted in 2019, 2018, and 2017, 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. Shares 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 value 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, whichever 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, 2019. 2019 Weighted Average Grant-Date Restricted stock and units outstanding Shares Fair Value per Share (thousands) (dollars) Issued and outstanding at January 1 40,381 86.56 Awards issued in 2019 8,799 77.66 Vested ( 9,427) 86.94 Forfeited ( 125) 85.35 Issued and outstanding at December 31 39,628 84.50 Value of restricted stock units 2019 2018 2017 Grant price (dollars) 68.77 77.66 81.89 Value at date of grant: (millions of dollars) Units settled in stock 559 620 667 Units settled in cash 55 61 63 Total value 614 681 730 As of December 31, 2019, there was $ 1,754 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 $ 741 million, $ 774 million, and $ 856 million for 2019, 2018, and 2017, respectively. The income tax benefit recognized in income related to this compensation expense was $ 51 million, $ 42 million, and $ 78 million for the same periods, respectively. The fair value of shares and units vested in 2019, 2018, and 2017 was $ 647 million, $ 722 million, and $ 826 million, respectively. Cash payments of $ 56 million, $ 61 million, and $ 64 million for vested restricted stock units settled in cash were made in 2019, 2018, and 2017, respectively. |
Litigation And Other Contingenc
Litigation And Other Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
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 reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. The Corporation does not record liabilities when the likelihood that the liability has been incurred is probable 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 significant, 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 ExxonMobil 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 December 31, 2019, for guarantees relating to notes, loans and performance under contracts. Where guarantees for environmental remediation and other similar matters do not include a stated cap, the amounts reflect management’s estimate of the maximum potential exposure. December 31, 2019 Equity Company Other Third-Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 827 104 931 Other 873 5,151 6,024 Total 1,700 5,255 6,955 (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 conversion of the Cerro Negro Project into a “mixed enterprise” and an increase in PdVSA’s or one of its affiliate’s ownership interest in the Project. ExxonMobil 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 Cerro Negro Project and $ 260 million in an arbitration for compensation due for the La Ceiba Project and for export curtailments at the Cerro Negro Project under 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 financial results cannot be reasonably estimated. Regardless, the Corporation does not expect the resolution to have a material effect upon the Corporation’s operations or financial condition. An affiliate of ExxonMobil is one of the Contractors under a Production Sharing Contract (PSC) with the Nigerian National Petroleum 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 Arbitration and Conciliation Act. On October 24, 2011, a three-member arbitral Tribunal issued an award upholding the Contractors' position in all material respects and awarding damages to the Contractors jointly in an amount of approximately $ 1.8 billion plus $ 234 million in accrued interest. The Contractors petitioned a Nigerian federal court for enforcement of the award, and NNPC petitioned the same court to have the award set aside. On May 22, 2012, the court set aside the award. The Contractors appealed that judgment to the Court of Appeal, Abuja Judicial Division. On July 22, 2016, the Court of Appeal upheld the decision of the lower court setting aside the 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 Nigerian Court of Appeal in June 2016. In October 2014, the Contractors filed suit in the United States District Court for the Southern District of New York (SDNY) to enforce, if necessary, the arbitration award against NNPC assets residing within that jurisdiction. NNPC moved to dismiss the lawsuit. On September 4, 2019, the SDNY dismissed the Contractors’ petition to recognize and enforce the Erha arbitration award. The Contractors filed a notice of appeal in the Second Circuit on October 2, 2019. At this time, the net impact of this matter on the Corporation's consolidated financial results cannot be reasonably estimated. However, regardless of the outcome of enforcement proceedings, the Corporation does not expect the proceedings to have a material effect upon the Corporation's operations or financial condition. |
Pension And Other Postretiremen
Pension And Other Postretirement Benefits | 12 Months Ended |
Dec. 31, 2019 | |
Pension And Other Postretirement Benefits [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 2019 2018 2019 2018 2019 2018 (percent) Weighted-average assumptions used to determine benefit obligations at December 31 Discount rate 3.50 4.40 2.30 3.00 3.50 4.40 Long-term rate of compensation increase 5.75 5.75 4.80 4.30 5.75 5.75 (millions of dollars) Change in benefit obligation Benefit obligation at January 1 18,174 19,310 25,378 27,963 7,471 8,100 Service cost 757 819 551 608 139 152 Interest cost 766 721 763 754 315 301 Actuarial loss/(gain) 2,562 ( 957) 3,703 ( 1,034) 556 ( 630) Benefits paid (1) (2) ( 1,300) ( 1,715) ( 1,196) ( 1,284) ( 517) ( 528) Foreign exchange rate changes - - 391 ( 1,664) 25 ( 49) Amendments, divestments and other - ( 4) 328 35 124 125 Benefit obligation at December 31 20,959 18,174 29,918 25,378 8,113 7,471 Accumulated benefit obligation at December 31 16,387 14,683 27,236 23,350 - - (1) Benefit payments for funded and unfunded plans. (2) For 2019 and 2018, other postretirement benefits paid are net of $ 20 million and $ 13 million of Medicare subsidy receipts, respectively. For selection of the discount rate for U.S. plans, several sources of information are considered, including interest rate market indicators and the effective discount rate determined by use of a yield curve based on high-quality, noncallable bonds applied to the estimated cash outflows for benefit payments. For major non-U.S. plans, the discount rate is determined by using a spot yield curve of high-quality, local-currency-denominated bonds at an average maturity approximating that of the liabilities. The measurement of the accumulated postretirement benefit obligation assumes a health care cost trend rate of 4.5 percent in 2021 and subsequent years. A one-percentage-point increase in the health care cost trend rate would increase service and interest cost by $ 85 million and the postretirement benefit obligation by $ 921 million. A one-percentage-point decrease in the health care cost trend rate would decrease service and interest cost by $ 63 million and the postretirement benefit obligation by $ 726 million. Pension Benefits Other Postretirement U.S. Non-U.S. Benefits 2019 2018 2019 2018 2019 2018 (millions of dollars) Change in plan assets Fair value at January 1 11,134 12,782 19,486 21,461 386 427 Actual return on plan assets 2,521 ( 710) 3,210 ( 15) 54 ( 13) Foreign exchange rate changes - - 513 ( 1,320) - - Company contribution 1,022 491 602 438 41 30 Benefits paid (1) ( 1,041) ( 1,429) ( 883) ( 903) ( 56) ( 58) Other - - ( 12) ( 175) - - Fair value at December 31 13,636 11,134 22,916 19,486 425 386 (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 the respective sponsoring affiliate. Pension Benefits U.S. Non-U.S. 2019 2018 2019 2018 (millions of dollars) Assets in excess of/(less than) benefit obligation Balance at December 31 Funded plans ( 4,656) ( 4,604) ( 1,728) 439 Unfunded plans ( 2,667) ( 2,436) ( 5,274) ( 6,331) Total ( 7,323) ( 7,040) ( 7,002) ( 5,892) 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 2019 2018 2019 2018 2019 2018 (millions of dollars) Assets in excess of/(less than) benefit obligation Balance at December 31 (1) ( 7,323) ( 7,040) ( 7,002) ( 5,892) ( 7,688) ( 7,085) Amounts recorded in the consolidated balance sheet consist of: Other assets - - 1,151 1,174 - - Current liabilities ( 242) ( 243) ( 267) ( 314) ( 351) ( 362) Postretirement benefits reserves ( 7,081) ( 6,797) ( 7,886) ( 6,752) ( 7,337) ( 6,723) Total recorded ( 7,323) ( 7,040) ( 7,002) ( 5,892) ( 7,688) ( 7,085) Amounts recorded in accumulated other comprehensive income consist of: Net actuarial loss/(gain) 3,971 3,831 5,662 4,713 1,339 877 Prior service cost 1 6 360 ( 93) ( 315) ( 357) Total recorded in accumulated other comprehensive income 3,972 3,837 6,022 4,620 1,024 520 (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 benefit 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 2019 2018 2017 2019 2018 2017 2019 2018 2017 Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31 (percent) Discount rate 4.40 3.80 4.25 3.00 2.80 3.00 4.40 3.80 4.25 Long-term rate of return on funded assets 5.30 6.00 6.50 4.10 4.70 5.20 4.60 6.00 6.50 Long-term rate of compensation increase 5.75 5.75 5.75 4.30 4.30 4.00 5.75 5.75 5.75 Components of net periodic benefit cost (millions of dollars) Service cost 757 819 784 551 608 596 139 152 129 Interest cost 766 721 798 763 754 772 315 301 317 Expected return on plan assets ( 568) ( 727) ( 775) ( 777) ( 951) ( 1,000) ( 15) ( 23) ( 24) Amortization of actuarial loss/(gain) 305 362 438 306 409 476 55 116 96 Amortization of prior service cost 5 5 5 56 46 47 ( 42) ( 40) ( 33) Net pension enhancement and curtailment/settlement cost 164 268 609 ( 98) 44 19 - - - Net periodic benefit cost 1,429 1,448 1,859 801 910 910 452 506 485 Changes in amounts recorded in accumulated other comprehensive income: Net actuarial loss/(gain) 609 479 ( 324) 1,268 ( 66) ( 191) 517 ( 594) 215 Amortization of actuarial (loss)/gain ( 469) ( 630) ( 1,047) ( 208) ( 453) ( 495) ( 55) ( 116) ( 96) Prior service cost/(credit) - - - 379 98 111 - - - Amortization of prior service (cost)/credit ( 5) ( 5) ( 5) ( 56) ( 46) ( 47) 42 40 33 Foreign exchange rate changes - - - 19 ( 356) 559 - ( 8) 8 Total recorded in other comprehensive income 135 ( 156) ( 1,376) 1,402 ( 823) ( 63) 504 ( 678) 160 Total recorded in net periodic benefit cost and other comprehensive income, before tax 1,564 1,292 483 2,203 87 847 956 ( 172) 645 Costs for defined contribution plans were $ 422 million, $ 391 million and $ 384 million in 2019, 2018 and 2017, respectively. A summary of the change in accumulated other comprehensive income is shown in the table below: Total Pension and Other Postretirement Benefits 2019 2018 2017 (millions of dollars) (Charge)/credit to other comprehensive income, before tax U.S. pension ( 135) 156 1,376 Non-U.S. pension ( 1,402) 823 63 Other postretirement benefits ( 504) 678 ( 160) Total (charge)/credit to other comprehensive income, before tax ( 2,041) 1,657 1,279 (Charge)/credit to income tax (see Note 4) 550 ( 470) ( 290) (Charge)/credit to investment in equity companies ( 19) 24 ( 43) (Charge)/credit to other comprehensive income including noncontrolling interests, after tax ( 1,510) 1,211 946 Charge/(credit) to equity of noncontrolling interests 146 ( 114) 12 (Charge)/credit to other comprehensive income attributable to ExxonMobil ( 1,364) 1,097 958 The Corporation’s investment strategy for benefit plan assets reflects a long-term view, a careful assessment of the risks inherent in plan assets and liabilities and broad diversification to reduce the risk of the portfolio. The benefit plan assets are primarily invested in passive global equity and local currency fixed income index funds to diversify risk while minimizing costs. The equity funds hold ExxonMobil stock only to the extent necessary to replicate the relevant equity index. The fixed income funds are largely 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 4 percent and 3 percent, respectively. The fair value measurement levels are accounting terms that refer to different methods of valuing assets. The terms do not represent the relative risk or credit quality of an investment. The 2019 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, 2019, Using: at December 31, 2019, 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. - - - 1,960 1,960 - - - 3,436 3,436 Non-U.S. - - - 1,656 1,656 70 (2) - - 3,015 3,085 Private equity - - - 499 499 - - - 489 489 Debt securities Corporate - 4,932 (3) - 1 4,933 - 129 (3) - 4,486 4,615 Government - 4,470 (3) - 2 4,472 280 (4) 139 (3) - 10,511 10,930 Asset-backed - - - 1 1 - 21 (3) - 212 233 Cash - - - 107 107 33 12 (5) - 61 106 Total at fair value - 9,402 - 4,226 13,628 383 301 - 22,210 22,894 Insurance contracts at contract value 8 22 Total plan assets 13,636 22,916 (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-backed debt securities, fair value is based on observable inputs of comparable market transactions. (4) For government debt securities that are traded on active exchanges, fair value is based on observable quoted prices. (5) For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input. Other Postretirement Fair Value Measurement at December 31, 2019, Using: Net Asset Level 1 Level 2 Level 3 Value (1) Total (millions of dollars) Asset category: Equity securities U.S. - - - 81 81 Non-U.S. - - - 49 49 Debt securities Corporate - 92 (2) - - 92 Government - 200 (2) - - 200 Asset-backed - - - - - Cash - - - 3 3 Total at fair value - 292 - 133 425 (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. 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, 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-backed debt securities, fair value is based on observable inputs of comparable market transactions. (4) For government debt securities that are traded on active exchanges, fair value is based on observable quoted prices. (5) For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input. 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, 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. 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. 2019 2018 2019 2018 (millions of dollars) For funded pension plans with an accumulated benefit obligation in excess of plan assets: Projected benefit obligation 18,292 15,738 3,616 4,037 Accumulated benefit obligation 14,940 13,208 3,026 3,671 Fair value of plan assets 13,636 11,134 1,381 3,499 For unfunded pension plans: Projected benefit obligation 2,667 2,436 5,274 6,331 Accumulated benefit obligation 1,447 1,475 4,629 5,670 Other Pension Benefits Postretirement U.S. Non-U.S. Benefits (millions of dollars) Estimated 2020 amortization from accumulated other comprehensive income: Net actuarial loss/(gain) (1) 527 422 89 Prior service cost (2) 5 70 ( 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 2020 1,030 515 - - Benefit payments expected in: 2020 1,440 1,171 444 20 2021 1,339 1,162 445 21 2022 1,330 1,177 443 22 2023 1,328 1,199 440 23 2024 1,327 1,221 438 24 2025 - 2029 6,512 6,125 2,196 132 |
Disclosures About Segments And
Disclosures About Segments And Related Information | 12 Months Ended |
Dec. 31, 2019 | |
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 products. 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 Corporation because they are the segments (1) that engage in business activities 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 about 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 the Corporate and financing segment, interest revenue relates to interest earned on cash deposits and marketable securities. Interest expense includes non-debt-related interest expense of $ 105 million in 2019, $ 84 million in 2018 and $ 136 million in 2017. 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, 2019 Earnings after income tax 536 13,906 1,717 606 206 386 ( 3,017) 14,340 Earnings of equity companies included above 282 4,534 196 19 ( 4) 818 ( 404) 5,441 Sales and other operating revenue 9,364 13,779 70,523 134,460 9,723 17,693 41 255,583 Intersegment revenue 10,893 30,864 22,416 24,775 7,864 5,905 224 - Depreciation and depletion expense 6,162 9,305 674 832 555 621 849 18,998 Interest revenue - - - - - - 84 84 Interest expense 54 34 1 9 - 1 731 830 Income tax expense (benefit) ( 151) 5,509 465 361 58 305 ( 1,265) 5,282 Additions to property, plant and equipment 10,404 7,347 2,685 1,777 1,344 589 758 24,904 Investments in equity companies 5,313 17,736 319 1,062 1,835 3,335 ( 309) 29,291 Total assets 95,750 151,181 23,442 37,133 16,544 20,376 18,171 362,597 As of December 31, 2018 Earnings after income tax 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 Geographic Sales and other operating revenue 2019 2018 2017 (millions of dollars) United States 89,612 96,930 82,079 Non-U.S. 165,971 182,402 155,083 Total 255,583 279,332 237,162 Significant non-U.S. revenue sources include: (1) Canada 19,735 22,672 20,116 United Kingdom 17,479 18,702 16,611 France 12,740 13,637 11,235 Singapore 12,128 13,689 11,589 Belgium 11,644 15,664 13,633 Italy 10,459 13,396 11,476 (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 2019 2018 2017 (millions of dollars) United States 114,372 108,147 105,101 Non-U.S. 138,646 138,954 147,529 Total 253,018 247,101 252,630 Significant non-U.S. long-lived assets include: Canada 39,130 37,433 41,138 Australia 13,933 14,548 16,908 Singapore 11,645 11,148 11,292 Kazakhstan 9,315 9,726 10,121 Papua New Guinea 8,057 8,269 8,463 Nigeria 7,640 8,421 9,734 Angola 5,784 7,021 7,689 United Arab Emirates 5,262 4,859 4,304 Russia 5,135 5,456 5,702 |
Income And Other Taxes
Income And Other Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income And Other Taxes [Abstract] | |
Income And Other Taxes | 19. Income and Other Taxes 2019 2018 2017 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 ( 121) 6,171 6,050 459 9,001 9,460 577 6,633 7,210 Deferred - net ( 255) ( 420) ( 675) 518 ( 614) ( 96) ( 9,075) 754 ( 8,321) U.S. tax on non-U.S. operations 89 - 89 42 - 42 17 - 17 Total federal and non-U.S. ( 287) 5,751 5,464 1,019 8,387 9,406 ( 8,481) 7,387 ( 1,094) State ( 182) - ( 182) 126 - 126 ( 80) - ( 80) Total income tax expense ( 469) 5,751 5,282 1,145 8,387 9,532 ( 8,561) 7,387 ( 1,174) All other taxes and duties Other taxes and duties 3,566 26,959 30,525 3,498 29,165 32,663 3,330 26,774 30,104 Included in production and manufacturing expenses 1,385 811 2,196 1,245 857 2,102 1,107 747 1,854 Included in SG&A expenses 160 305 465 153 312 465 147 354 501 Total other taxes and duties 5,111 28,075 33,186 4,896 30,334 35,230 4,584 27,875 32,459 Total 4,642 33,826 38,468 6,041 38,721 44,762 ( 3,977) 35,262 31,285 The above provisions for deferred income taxes include net credits of $ 740 million in 2019 and $ 289 million in 2018 related to changes in tax laws and rates. For 2017, deferred 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. 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 Accounting 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 changes in tax law and tax rate. The Corporation’s results for 2018 include a $ 291 million tax credit, mainly in the Non-U.S. Upstream, reflecting an updated estimate of the impact of U.S. tax reform including clarifications provided in tax regulations issued by the U.S. Treasury. The Corporation completed its accounting 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) during 2018. The reconciliation between income tax expense and a theoretical U.S. tax computed by applying a rate of percent for 2019 and 2018 and 35 percent for 2017 is as follows: 2019 2018 2017 (millions of dollars) Income before income taxes United States ( 53) 5,200 ( 754) Non-U.S. 20,109 25,753 19,428 Total 20,056 30,953 18,674 Theoretical tax 4,212 6,500 6,536 Effect of equity method of accounting ( 1,143) ( 1,545) ( 1,883) Non-U.S. taxes in excess of/(less than) theoretical U.S. tax (1) 2,573 4,626 1,848 Enactment-date effects of U.S. tax reform - ( 291) ( 5,942) Other (2) ( 360) 242 ( 1,733) Total income tax expense 5,282 9,532 ( 1,174) Effective tax rate calculation Income taxes 5,282 9,532 ( 1,174) ExxonMobil share of equity company income taxes 2,490 3,142 2,228 Total income taxes 7,772 12,674 1,054 Net income including noncontrolling interests 14,774 21,421 19,848 Total income before taxes 22,546 34,095 20,902 Effective income tax rate 34% 37% 5% (1) 2019 includes taxes less than the theoretical U.S. tax of $ 773 million from Norway operations and the sale of upstream assets, $ 657 million from a tax rate change in Alberta, Canada, and $ 268 million from an adjustment to a prior year tax position. (2) 2017 includes taxes less than the theoretical U.S. tax of $ 708 million from an exploration tax benefit. 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: 2019 2018 (millions of dollars) Property, plant and equipment 36,029 35,745 Other liabilities 7,653 6,516 Total deferred tax liabilities 43,682 42,261 Pension and other postretirement benefits ( 4,712) ( 4,115) Asset retirement obligations ( 3,403) ( 4,118) Tax loss carryforwards ( 7,404) ( 6,321) Other assets ( 7,735) ( 5,498) Total deferred tax assets ( 23,254) ( 20,052) Asset valuation allowances 1,924 1,826 Net deferred tax liabilities 22,352 24,035 In 2019, asset valuation allowances of $ 1,924 million increased by $ 98 million and included net provisions of $ 113 million and effects of foreign currency translation of $ 15 million. Balance sheet classification 2019 2018 (millions of dollars) Other assets, including intangibles, net ( 3,268) ( 3,209) Deferred income tax liabilities 25,620 27,244 Net deferred tax liabilities 22,352 24,035 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 reinvested for the foreseeable future. As of December 31, 2019, 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 2019 2018 2017 (millions of dollars) Balance at January 1 9,174 8,783 9,468 Additions based on current year's tax positions 287 375 522 Additions for prior years' tax positions 120 240 523 Reductions for prior years' tax positions ( 97) ( 125) ( 865) Reductions due to lapse of the statute of limitations ( 279) ( 5) ( 113) Settlements with tax authorities ( 538) ( 68) ( 782) Foreign exchange effects/other 177 ( 26) 30 Balance at December 31 8,844 9,174 8,783 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 2019, 2018 and 2017 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 authorities 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 ongoing U.S. federal income tax positions at issue with the Internal Revenue Service (IRS) for tax years beginning in 2006. The Corporation filed a refund suit for tax years 2006-2009 in U.S. federal district court with respect to the positions at issue for those years. These positions are reflected in the unrecognized tax benefits table above. On February 24, 2020, the Corporation received an adverse ruling on this suit and is assessing the ruling. Unfavorable resolution of all positions at issue with the IRS would not have a materially adverse effect on the Corporation’s net income or liquidity. 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 the penalties to be sustained under applicable law. It is reasonably possible that the total amount of unrecognized tax benefits could increase or decrease by 10 percent in the next 12 months with no material impact on the Corporation's net income. The following table summarizes the tax years that remain subject to examination by major tax jurisdiction: Country of Operation Open Tax Years Abu Dhabi 2018 - 2019 Angola 2018 - 2019 Australia 2010 - 2019 Belgium 2017 - 2019 Canada 2000 - 2019 Equatorial Guinea 2007 - 2019 Indonesia 2007 - 2019 Iraq 2014 - 2019 Malaysia 2011 - 2019 Nigeria 2006 - 2019 Norway 2007 - 2019 Papua New Guinea 2008 - 2019 Russia 2017 - 2019 United Kingdom 2015 - 2019 United States 2006 - 2019 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 $ 0 million, $ 3 million and $ 36 million in interest expense on income tax reserves in 2019, 2018 and 2017, respectively. The related interest payable balances were $ 71 million and $ 169 million at December 31, 2019, and 2018, respectively. |
Sale of Norway Assets
Sale of Norway Assets | 12 Months Ended |
Dec. 31, 2019 | |
Sale of Norway Assets [Abstract] | |
Sale of Norway Assets | 20. Sale of Norway Assets On December 10, 2019 , the Corporation completed the sale of non-operated upstream assets in Norway to Vår Energi AS (Vår). The agreed sales price of $ 4.5 billion was subject to interim period adjustments from the effective date of January 1, 2019, to the closing date, and reduction of obligations for income taxes from the effective date. Cash flow related to the divestment was $ 3.1 billion in 2019 and the Corporation expects to receive a refund of income tax payments of $ 0.6 billion and deferred consideration of $ 0.3 billion plus interest by 2022. The Corporation recognized a gain of $ 3.7 billion at closing of which $ 2.7 billion is included in “Other income” and $ 1.0 billion in “Income taxes” in the Consolidated Statement of Income. |
Summary Of Accounting Policies
Summary Of Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2019 | |
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 long-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 which 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 that is other than temporary. Examples of key indicators include a history 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 temporary loss in fair value below carrying amount is determined, an impairment is recognized. In the absence of market prices for the investment, discounted cash flows are used to assess fair value. Investments in equity securities other than consolidated subsidiaries 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 approach 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 translation 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 market prices. In some cases (e.g., natural gas), products may be sold under long-term agreements, with periodic price adjustments to reflect market conditions. Revenue is recognized at the amount the Corporation expects to receive when the customer has taken control, which is typically when title transfers and the customer has 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 realizations 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 significant. Contract liabilities are mainly customer prepayments and accruals of expected volume discounts and are not significant. |
Income and Other Taxes | Income and Other Taxes The 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 (included 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. |
Derivative Instruments | Derivative Instruments The Corporation may use derivative instruments for trading purposes and to offset exposures associated with commodity prices, foreign currency exchange rates and interest rates that arise from existing assets, liabilities, firm commitments and forecasted transactions. All derivative instruments, except those designated as normal purchase and normal sale, are recorded at fair value. Derivative assets and liabilities with the same counterparty 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 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. |
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 of 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 condition 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 Corporation uses the “successful efforts” method to account for its exploration and production activities. Under this method, costs are accumulated on a field-by-field basis. Costs incurred to purchase, lease, or otherwise acquire a property (whether unproved or proved) are capitalized when incurred. Exploratory well costs are carried as an asset when the well has found a sufficient quantity of reserves to justify its completion as a producing well and where the Corporation is making sufficient progress assessing the reserves and the economic and operating viability of the project. Exploratory well costs not meeting these criteria are charged to expense. Other exploratory expenditures, including geophysical costs and annual lease rentals, are expensed as incurred. Development costs, including costs of productive wells and development dry 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 straight-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 than the reserves, and as such, the Corporation uses 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 produce such that the resulting depreciation charge does not result in an equitable allocation of cost over the expected life, assets will be depreciated using a unit-of-production method based on reserves determined at the most recent SEC price which results 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 events 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, including an adverse action or assessment by a regulator; an accumulation of project costs significantly in excess of the amount originally expected; a current-period operating loss combined with a history and forecast of operating or cash flow losses; and a current expectation that, more likely than not, a long-lived asset will be sold or otherwise disposed of significantly before the end of its previously estimated useful life. Asset valuation analysis, profitability reviews and other periodic control processes 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 continue to be driven by market supply and demand fundamentals. On the supply side, industry production from mature fields is declining. This is being offset by investments to generate production from new discoveries, field developments and technology and efficiency advancements. OPEC investment activities and production policies also have an impact on world oil supplies. The 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 development and production costs. During the lifespan of these major assets, the Corporation expects that oil and gas prices will experience significant volatility, and consequently these assets will experience periods of higher earnings and periods of lower earnings, or even losses. In assessing whether the events or changes in circumstances indicate the carrying value of an asset may not be recoverable, the Corporation considers recent periods of operating losses in the context of its longer-term view of prices. While near-term prices are subject to wide fluctuations, longer-term price views are more stable and meaningful for purposes of assessing future cash flows. When the industry experiences a prolonged and deep reduction in commodity prices, the market supply and demand conditions may result in changes to the Corporation’s long-term price or margin assumptions it uses for its capital investment decisions. To the extent those changes result in a significant reduction to its long-term oil price, natural gas price or margin ranges, the Corporation may consider that situation, in conjunction with other events or changes in circumstances such as a history of operating losses, an indicator of potential impairment for certain assets. In the Upstream, the standardized measure of discounted cash flows included in the Supplemental Information on Oil and Gas Exploration and Production activities is required to use prices based on the average of first-of-month prices. These prices represent discrete points in time and could be higher or lower than the Corporation’s long-term price assumptions which are used for impairment assessments. The Corporation believes the standardized measure does not provide a reliable estimate of the expected future cash flows to be obtained from the development and production of its oil and gas properties or of the value of its oil and gas reserves and therefore does not consider it relevant in determining whether events or changes in circumstances indicate the need for an impairment assessment. 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. 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 criteria 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 including price differentials, refining and chemical margins, volumes, development and operating costs, and foreign currency exchange rates. Volumes are based on projected field and facility production profiles, throughput, or sales. Management’s estimate of upstream production volumes used for projected cash flows makes use of proved reserve quantities and may include risk-adjusted unproved reserve quantities. Cash flow estimates 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 valuation allowances against the capitalized costs are recorded based on the estimated economic chance of success and the length of time that the Corporation expects to hold the properties. Properties that are not individually significant are aggregated by groups and amortized based on development risk and average holding period. Other. Gains on sales of proved and unproved properties are only recognized when there is neither uncertainty about the recovery of costs applicable to any interest retained nor any substantial obligation for future performance by the Corporation. Losses on properties sold are recognized when incurred or when the 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 Environmental Liabilities The Corporation incurs retirement obligations for certain assets. The fair values of these obligations are recorded as liabilities on a discounted basis, which is typically at the time the assets are installed. The costs associated with these liabilities are capitalized as part of the related assets and depreciated. Over time, the liabilities are accreted for the change in their present value. Liabilities for environmental costs are recorded when it is probable that obligations have been incurred and the amounts can be reasonably estimated. These liabilities are not reduced by possible recoveries from third parties, and projected cash expenditures are not discounted. |
Foreign Currency Translation | Foreign Currency Translation The Corporation selects the functional reporting currency for its international subsidiaries based on the currency of the primary economic environment in which each subsidiary 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. For 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. Shares 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 value are recognized over the vesting period. |
Leases | The Corporation applied a policy election to exclude short-term leases from balance sheet recognition and also elected certain practical expedients at adoption. As permitted, the Corporation did not reassess whether existing contracts are or contain leases, the lease classification for any existing leases, initial direct costs for any existing lease and whether existing land easements and rights of way, which were not previously accounted for as leases, are or contain a lease. Right of use assets and lease liabilities are established on the balance sheet for leases with an expected term greater than one year, by discounting the amounts fixed in the lease agreement for the duration of the lease which is reasonably certain, considering the probability of exercising any early termination and extension options. The portion of the fixed payment related to service costs for drilling equipment, tankers and finance leases is excluded from the calculation of right of use assets and lease liabilities. In general, leases are capitalized using the incremental borrowing rate of the leasing affiliate. |
Miscellaneous Financial Infor_2
Miscellaneous Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Miscellaneous Financial Information [Abstract] | |
Crude Oil, Products And Merchandise | 2019 2018 (millions of dollars) Crude oil 5,111 4,783 Petroleum products 5,281 5,666 Chemical products 3,240 3,821 Gas/other 378 533 Total 14,010 14,803 |
Other Comprehensive Income In_2
Other Comprehensive Income Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Other Comprehensive Income Information [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income Information | Cumulative Post- Foreign retirement Exchange Benefits ExxonMobil Share of Accumulated Other Translation Reserves Comprehensive Income Adjustment Adjustment Total (millions of dollars) Balance as of December 31, 2016 ( 14,501) ( 7,738) ( 22,239) Current period change excluding amounts reclassified from accumulated other comprehensive income 4,879 ( 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) Current period change excluding amounts reclassified from accumulated other comprehensive income 1,435 ( 1,927) ( 492) Amounts reclassified from accumulated other comprehensive income - 563 563 Total change in accumulated other comprehensive income 1,435 ( 1,364) 71 Balance as of December 31, 2019 ( 12,446) ( 7,047) ( 19,493) |
Reclassification Out Of Accumulated Other Comprehensive Income | Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) 2019 2018 2017 (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) ( 751) ( 1,208) ( 1,656) |
Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income | Income Tax (Expense)/Credit For Components of Other Comprehensive Income 2019 2018 2017 (millions of dollars) Foreign exchange translation adjustment 88 32 67 Postretirement benefits reserves adjustment (excluding amortization) 719 ( 193) 201 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs ( 169) ( 277) ( 491) Total 638 ( 438) ( 223) |
Cash Flow Information (Tables)
Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Cash Flow Information [Abstract] | |
Cash Payments For Interest And Income Taxes | 2019 2018 2017 (millions of dollars) Income taxes paid 7,018 9,294 7,510 Cash interest paid Included in cash flows from operating activities 560 303 383 Capitalized, included in cash flows from investing activities 731 652 749 Total cash interest paid 1,291 955 1,132 |
Additional Working Capital In_2
Additional Working Capital Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Additional Working Capital Information [Abstract] | |
Schedule Of Notes, Accounts Receivable And Payable, Loans Payable, And Accrued Liabilities | Dec. 31 Dec. 31 2019 2018 (millions of dollars) Notes and accounts receivable Trade, less reserves of $ 34 million and $ 61 million 21,100 19,638 Other, less reserves of $ 371 million and $ 339 million 5,866 5,063 Total 26,966 24,701 Notes and loans payable Bank loans 316 325 Commercial paper 18,561 12,863 Long-term debt due within one year 1,701 4,070 Total 20,578 17,258 Accounts payable and accrued liabilities Trade payables 24,694 21,063 Payables to equity companies 6,825 6,863 Accrued taxes other than income taxes 3,301 3,280 Other 7,011 6,062 Total 41,831 37,268 |
Equity Company Information (Tab
Equity Company Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity Company Information [Abstract] | |
Schedule Of Equity Company Financial Summary | 2019 2018 2017 Equity Company ExxonMobil ExxonMobil ExxonMobil Financial Summary Total Share Total Share Total Share (millions of dollars) Total revenues 102,365 31,240 112,938 34,539 94,791 29,340 Income before income taxes 29,424 7,927 37,203 10,482 29,748 8,498 Income taxes 9,725 2,500 11,568 3,151 8,421 2,236 Income from equity affiliates 19,699 5,427 25,635 7,331 21,327 6,262 Current assets 36,035 12,661 38,670 13,394 35,367 12,050 Long-term assets 143,321 40,001 128,830 35,970 122,221 34,931 Total assets 179,356 52,662 167,500 49,364 157,588 46,981 Current liabilities 24,583 6,939 27,324 7,606 21,725 6,348 Long-term liabilities 61,022 18,158 56,913 17,109 59,736 17,056 Net assets 93,751 27,565 83,263 24,649 76,127 23,577 |
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 Coral FLNG, S.A. 25 Cross Timbers Energy, LLC 50 Golden Pass Pipeline LLC 30 Golden Pass LNG Terminal LLC 30 Marine Well Containment Company LLC 10 Mozambique Rovuma Venture, S.p.A. 36 Nederlandse Aardolie Maatschappij B.V. 50 Papua New Guinea Liquefied Natural Gas Global Company LDC 33 Permian Highway Pipeline LLC 20 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 Alberta Products Pipe Line Ltd. 45 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 LLP 50 Saudi Yanbu Petrochemical Co. 50 |
Investments, Advances And Lon_2
Investments, Advances And Long-Term Receivables (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investments, Advances And Long-Term Receivables [Abstract] | |
Schedule Of Investments, Advances And Long-Term Receivables | Dec. 31, Dec. 31, 2019 2018 (millions of dollars) Equity method company investments and advances Investments 29,291 26,382 Advances 8,542 8,608 Total equity method company investments and advances 37,833 34,990 Equity securities carried at fair value and other investments at adjusted cost basis 190 210 Long-term receivables and miscellaneous, net of reserves of $ 5,643 million and $ 5,471 million 5,141 5,590 Total 43,164 40,790 |
Property, Plant And Equipment_2
Property, Plant And Equipment And Asset Retirement Obligations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant And Equipment And Asset Retirement Obligations [Abstract] | |
Property, Plant And Equipment | December 31, 2019 December 31, 2018 Property, Plant and Equipment Cost Net Cost Net (millions of dollars) Upstream 376,041 196,767 372,791 194,662 Downstream 52,527 24,506 48,241 21,448 Chemical 40,788 21,260 39,008 20,551 Other 17,346 10,485 17,150 10,440 Total 486,702 253,018 477,190 247,101 |
Asset Retirement Obligations | 2019 2018 (millions of dollars) Beginning balance 12,103 12,705 Accretion expense and other provisions 649 681 Reduction due to property sales ( 1,085) ( 333) Payments made ( 827) ( 600) Liabilities incurred 89 46 Foreign currency translation 84 ( 481) Revisions 267 85 Ending balance 11,280 12,103 |
Accounting For Suspended Expl_2
Accounting For Suspended Exploratory Well Costs (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting For Suspended Exploratory Well Costs [Abstract] | |
Change In Capitalized Suspended Exploratory Well Costs | 2019 2018 2017 (millions of dollars) Balance beginning at January 1 4,160 3,700 4,477 Additions pending the determination of proved reserves 532 564 906 Charged to expense ( 46) ( 7) ( 1,205) Reclassifications to wells, facilities and equipment based on the determination of proved reserves ( 37) ( 48) ( 497) Divestments/Other 4 ( 49) 19 Ending balance at December 31 4,613 4,160 3,700 Ending balance attributed to equity companies included above 306 306 306 |
Period End Capitalized Suspended Exploratory Well Costs | 2019 2018 2017 (millions of dollars) Capitalized for a period of one year or less 532 564 906 Capitalized for a period of between one and five years 2,206 2,028 1,345 Capitalized for a period of between five and ten years 1,411 1,150 1,064 Capitalized for a period of greater than ten years 464 418 385 Capitalized for a period greater than one year - subtotal 4,081 3,596 2,794 Total 4,613 4,160 3,700 |
Number Of Projects With Suspended Exploratory Well Costs | 2019 2018 2017 Number of projects that only have exploratory well costs capitalized for a period of one year or less 4 6 11 Number of projects that have exploratory well costs capitalized for a period greater than one year 46 52 46 Total 50 58 57 |
Additional Detail For Projects With Completed Exploratory Activity Progressing Toward Development | Years Wells Dec. 31, Drilled / Country/Project 2019 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 315 1994 - 2015 Evaluating development plans to tie into existing LNG facilities. - SE Longtom 10 2010 Gas field near Tuna development, awaiting capacity in existing/planned infrastructure. - SE Remora 32 2010 Gas field near Marlin development, awaiting capacity in existing/planned infrastructure. Guyana - Payara 120 2017 - 2018 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. 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 2019 Acquired Comment (millions of dollars) Papua New Guinea - Papua LNG 246 2017 Evaluating/progressing development plans. - P'nyang 115 2012 - 2018 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. Tanzania - Tanzania Block 2 537 2012 - 2018 Evaluating development alternatives while continuing discussions with the government regarding development plan. Vietnam - Blue Whale 296 2011 - 2015 Evaluating/progressing development plans. Total 2019 (32 projects) 3,176 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Lease Cost | Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Lease Cost 2019 Operating lease cost 238 1,196 1,434 Short-term and other (net of sublease rental income) 926 1,116 2,042 Amortization of right of use assets 121 Interest on lease liabilities 133 Total 1,164 2,312 3,476 254 |
Right Of Use Assets And Lease Liabilities | Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Balance Sheet December 31, 2019 Right of use assets Included in Other assets, including intangibles - net 572 6,061 6,633 Included in Property, plant and equipment - net 1,997 Total right of use assets 572 6,061 6,633 1,997 Lease liability due within one year Included in Accounts payable and accrued liabilities 221 990 1,211 15 Included in Notes and loans payable 84 Long-term lease liability Included in Other long-term obligations 330 4,152 4,482 Included in Long-term debt 1,670 Included in Long-term obligations to equity companies 139 Total lease liability 551 5,142 5,693 1,908 |
Maturity Analysis of Operating Leased Facilities | Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Maturity Analysis of Lease Liabilities December 31, 2019 2020 234 1,127 1,361 271 2021 134 886 1,020 576 2022 73 625 698 174 2023 45 468 513 173 2024 30 425 455 172 2025 and beyond 72 2,681 2,753 2,446 Total lease payments 588 6,212 6,800 3,812 Discount to present value ( 37) ( 1,070) ( 1,107) ( 1,904) Total lease liability 551 5,142 5,693 1,908 Weighted average remaining lease term - years 4 11 10 20 Weighted average discount rate - percent 3.1% 3.2% 3.2% 9.7% |
Maturity Analysis of Finance Leased Facilities | Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Maturity Analysis of Lease Liabilities December 31, 2019 2020 234 1,127 1,361 271 2021 134 886 1,020 576 2022 73 625 698 174 2023 45 468 513 173 2024 30 425 455 172 2025 and beyond 72 2,681 2,753 2,446 Total lease payments 588 6,212 6,800 3,812 Discount to present value ( 37) ( 1,070) ( 1,107) ( 1,904) Total lease liability 551 5,142 5,693 1,908 Weighted average remaining lease term - years 4 11 10 20 Weighted average discount rate - percent 3.1% 3.2% 3.2% 9.7% |
Operating And Finance Leases Other Information | Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Other Information 2019 Cash paid for amounts included in the measurement of lease liabilities Cash flows from operating activities 1,116 1,116 54 Cash flows from investing activities 258 258 Cash flows from financing activities 177 Noncash right of use assets recorded for lease liabilities For January 1 adoption of Topic 842 445 2,818 3,263 In exchange for new lease liabilities during the period 350 3,313 3,663 422 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Computation | Earnings per common share 2019 2018 2017 Net income attributable to ExxonMobil (millions of dollars) 14,340 20,840 19,710 Weighted average number of common shares outstanding (millions of shares) 4,270 4,270 4,256 Earnings per common share (dollars) (1) 3.36 4.88 4.63 Dividends paid per common share (dollars) 3.43 3.23 3.06 (1) 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 (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments | At December 31, 2019 (millions of dollars) Fair Value Difference Total Gross Effect of Effect of in Carrying Net Assets Counterparty Collateral Value and Carrying Level 1 Level 2 Level 3 & Liabilities Netting Netting Fair Value Value Assets Derivative assets (1) 533 102 - 635 ( 463) ( 70) - 102 Advances to/receivables from equity companies (2)(7) - 1,941 6,729 8,670 - - ( 128) 8,542 Other long-term financial assets (3) 1,145 - 974 2,119 - - 44 2,163 Liabilities Derivative liabilities (4) 568 70 - 638 ( 463) ( 105) - 70 Long-term debt (5) 25,652 134 3 25,789 - - ( 1,117) 24,672 Long-term obligations to equity companies (7) - - 4,245 4,245 - - ( 257) 3,988 Other long-term financial liabilities (6) - - 1,042 1,042 - - 16 1,058 At December 31, 2018 (millions of dollars) Fair Value Difference Total Gross Effect of Effect of in Carrying Net Assets Counterparty Collateral Value and Carrying Level 1 Level 2 Level 3 & Liabilities Netting Netting Fair Value Value 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 lines: Notes and accounts receivable, less estimated doubtful amounts and Other assets, including intangibles, net (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 lines: Accounts payable and accrued liabilities and Other long-term obligations (5) Excluding finance 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 company. |
Derivative Instruments - Before-Tax Realized and Unrealized Gains / (Losses) | 2019 2018 2017 (millions of dollars) Sales and other operating revenue ( 412) 130 6 Crude oil and product purchases 179 ( 120) ( 105) Total ( 233) 10 ( 99) |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Long-Term Debt [Abstract] | |
Summarized Long-Term Debt | Average Rate (1) 2019 2018 (millions of dollars) Exxon Mobil Corporation 1.912% notes due 2020 - 1,500 2.222% notes due 2021 2,500 2,500 2.397% notes due 2022 (Issued 2015) 1,150 1,150 1.902% notes due 2022 (Issued 2019) 750 - Floating-rate notes due 2022 (Issued 2015) 2.792% 500 500 Floating-rate notes due 2022 (Issued 2019) 2.414% 750 - 2.726% notes due 2023 1,250 1,250 3.176% notes due 2024 (Issued 2014) 1,000 1,000 2.019% notes due 2024 (Issued 2019) 1,000 - 2.709% notes due 2025 1,750 1,750 3.043% notes due 2026 (Issued 2016) 2,500 2,500 2.275% notes due 2026 (Issued 2019) 1,000 - 2.440% notes due 2029 1,250 - 2.995% notes due 2039 750 - 3.567% notes due 2045 1,000 1,000 4.114% notes due 2046 2,500 2,500 3.095% notes due 2049 1,500 - XTO Energy Inc. (2) 6.100% senior notes due 2036 193 195 6.750% senior notes due 2037 296 299 6.375% senior notes due 2038 229 230 Mobil Corporation 8.625% debentures due 2021 250 250 Industrial revenue bonds due 2020-2051 1.388% 2,461 2,513 Other U.S. dollar obligations 89 102 Other foreign currency obligations 64 38 Finance lease obligations 9.518% 1,670 1,303 Debt issuance costs ( 60) ( 42) Total long-term debt 26,342 20,538 (1) Average effective interest rate for debt and average imputed interest rate for finance leases at December 31, 2019. (2) Includes premiums of $ 92 million in 2019 and $ 97 million in 2018. |
Incentive Program (Tables)
Incentive Program (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Incentive Program [Abstract] | |
Summary Of Restricted Stock And Units Outstanding | 2019 Weighted Average Grant-Date Restricted stock and units outstanding Shares Fair Value per Share (thousands) (dollars) Issued and outstanding at January 1 40,381 86.56 Awards issued in 2019 8,799 77.66 Vested ( 9,427) 86.94 Forfeited ( 125) 85.35 Issued and outstanding at December 31 39,628 84.50 |
Grant Value Of Restricted Stock Units | Value of restricted stock units 2019 2018 2017 Grant price (dollars) 68.77 77.66 81.89 Value at date of grant: (millions of dollars) Units settled in stock 559 620 667 Units settled in cash 55 61 63 Total value 614 681 730 |
Litigation And Other Continge_2
Litigation And Other Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Litigation And Other Contingencies [Abstract] | |
Schedule Of Guarantees | December 31, 2019 Equity Company Other Third-Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 827 104 931 Other 873 5,151 6,024 Total 1,700 5,255 6,955 (1) ExxonMobil share. |
Pension And Other Postretirem_2
Pension And Other Postretirement Benefits (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Pension And Other Postretirement Benefits [Abstract] | |
Change In Benefit Obligation Of Pension And Other Postretirement Benefits | Pension Benefits Other Postretirement U.S. Non-U.S. Benefits 2019 2018 2019 2018 2019 2018 (percent) Weighted-average assumptions used to determine benefit obligations at December 31 Discount rate 3.50 4.40 2.30 3.00 3.50 4.40 Long-term rate of compensation increase 5.75 5.75 4.80 4.30 5.75 5.75 (millions of dollars) Change in benefit obligation Benefit obligation at January 1 18,174 19,310 25,378 27,963 7,471 8,100 Service cost 757 819 551 608 139 152 Interest cost 766 721 763 754 315 301 Actuarial loss/(gain) 2,562 ( 957) 3,703 ( 1,034) 556 ( 630) Benefits paid (1) (2) ( 1,300) ( 1,715) ( 1,196) ( 1,284) ( 517) ( 528) Foreign exchange rate changes - - 391 ( 1,664) 25 ( 49) Amendments, divestments and other - ( 4) 328 35 124 125 Benefit obligation at December 31 20,959 18,174 29,918 25,378 8,113 7,471 Accumulated benefit obligation at December 31 16,387 14,683 27,236 23,350 - - (1) Benefit payments for funded and unfunded plans. (2) For 2019 and 2018, other postretirement benefits paid are net of $ 20 million and $ 13 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 2019 2018 2019 2018 2019 2018 (millions of dollars) Change in plan assets Fair value at January 1 11,134 12,782 19,486 21,461 386 427 Actual return on plan assets 2,521 ( 710) 3,210 ( 15) 54 ( 13) Foreign exchange rate changes - - 513 ( 1,320) - - Company contribution 1,022 491 602 438 41 30 Benefits paid (1) ( 1,041) ( 1,429) ( 883) ( 903) ( 56) ( 58) Other - - ( 12) ( 175) - - Fair value at December 31 13,636 11,134 22,916 19,486 425 386 (1) Benefit payments for funded plans. |
Summary Of Assets In Excess Of/(Less Than) Benefit Obligation | Pension Benefits U.S. Non-U.S. 2019 2018 2019 2018 (millions of dollars) Assets in excess of/(less than) benefit obligation Balance at December 31 Funded plans ( 4,656) ( 4,604) ( 1,728) 439 Unfunded plans ( 2,667) ( 2,436) ( 5,274) ( 6,331) Total ( 7,323) ( 7,040) ( 7,002) ( 5,892) |
Amounts Recorded In Balance Sheet And Other Comprehensive Income | Pension Benefits Other Postretirement U.S. Non-U.S. Benefits 2019 2018 2019 2018 2019 2018 (millions of dollars) Assets in excess of/(less than) benefit obligation Balance at December 31 (1) ( 7,323) ( 7,040) ( 7,002) ( 5,892) ( 7,688) ( 7,085) Amounts recorded in the consolidated balance sheet consist of: Other assets - - 1,151 1,174 - - Current liabilities ( 242) ( 243) ( 267) ( 314) ( 351) ( 362) Postretirement benefits reserves ( 7,081) ( 6,797) ( 7,886) ( 6,752) ( 7,337) ( 6,723) Total recorded ( 7,323) ( 7,040) ( 7,002) ( 5,892) ( 7,688) ( 7,085) Amounts recorded in accumulated other comprehensive income consist of: Net actuarial loss/(gain) 3,971 3,831 5,662 4,713 1,339 877 Prior service cost 1 6 360 ( 93) ( 315) ( 357) Total recorded in accumulated other comprehensive income 3,972 3,837 6,022 4,620 1,024 520 (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 2019 2018 2017 2019 2018 2017 2019 2018 2017 Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31 (percent) Discount rate 4.40 3.80 4.25 3.00 2.80 3.00 4.40 3.80 4.25 Long-term rate of return on funded assets 5.30 6.00 6.50 4.10 4.70 5.20 4.60 6.00 6.50 Long-term rate of compensation increase 5.75 5.75 5.75 4.30 4.30 4.00 5.75 5.75 5.75 Components of net periodic benefit cost (millions of dollars) Service cost 757 819 784 551 608 596 139 152 129 Interest cost 766 721 798 763 754 772 315 301 317 Expected return on plan assets ( 568) ( 727) ( 775) ( 777) ( 951) ( 1,000) ( 15) ( 23) ( 24) Amortization of actuarial loss/(gain) 305 362 438 306 409 476 55 116 96 Amortization of prior service cost 5 5 5 56 46 47 ( 42) ( 40) ( 33) Net pension enhancement and curtailment/settlement cost 164 268 609 ( 98) 44 19 - - - Net periodic benefit cost 1,429 1,448 1,859 801 910 910 452 506 485 Changes in amounts recorded in accumulated other comprehensive income: Net actuarial loss/(gain) 609 479 ( 324) 1,268 ( 66) ( 191) 517 ( 594) 215 Amortization of actuarial (loss)/gain ( 469) ( 630) ( 1,047) ( 208) ( 453) ( 495) ( 55) ( 116) ( 96) Prior service cost/(credit) - - - 379 98 111 - - - Amortization of prior service (cost)/credit ( 5) ( 5) ( 5) ( 56) ( 46) ( 47) 42 40 33 Foreign exchange rate changes - - - 19 ( 356) 559 - ( 8) 8 Total recorded in other comprehensive income 135 ( 156) ( 1,376) 1,402 ( 823) ( 63) 504 ( 678) 160 Total recorded in net periodic benefit cost and other comprehensive income, before tax 1,564 1,292 483 2,203 87 847 956 ( 172) 645 |
Summary Of Change In Accumulated Other Comprehensive Income | Total Pension and Other Postretirement Benefits 2019 2018 2017 (millions of dollars) (Charge)/credit to other comprehensive income, before tax U.S. pension ( 135) 156 1,376 Non-U.S. pension ( 1,402) 823 63 Other postretirement benefits ( 504) 678 ( 160) Total (charge)/credit to other comprehensive income, before tax ( 2,041) 1,657 1,279 (Charge)/credit to income tax (see Note 4) 550 ( 470) ( 290) (Charge)/credit to investment in equity companies ( 19) 24 ( 43) (Charge)/credit to other comprehensive income including noncontrolling interests, after tax ( 1,510) 1,211 946 Charge/(credit) to equity of noncontrolling interests 146 ( 114) 12 (Charge)/credit to other comprehensive income attributable to ExxonMobil ( 1,364) 1,097 958 |
Fair Value Of The Benefit Plan Assets (Pension) | U.S. Pension Non-U.S. Pension Fair Value Measurement Fair Value Measurement at December 31, 2019, Using: at December 31, 2019, 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. - - - 1,960 1,960 - - - 3,436 3,436 Non-U.S. - - - 1,656 1,656 70 (2) - - 3,015 3,085 Private equity - - - 499 499 - - - 489 489 Debt securities Corporate - 4,932 (3) - 1 4,933 - 129 (3) - 4,486 4,615 Government - 4,470 (3) - 2 4,472 280 (4) 139 (3) - 10,511 10,930 Asset-backed - - - 1 1 - 21 (3) - 212 233 Cash - - - 107 107 33 12 (5) - 61 106 Total at fair value - 9,402 - 4,226 13,628 383 301 - 22,210 22,894 Insurance contracts at contract value 8 22 Total plan assets 13,636 22,916 (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-backed debt securities, fair value is based on observable inputs of comparable market transactions. (4) For government debt securities that are traded on active exchanges, fair value is based on observable quoted prices. (5) For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input. 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, 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-backed debt securities, fair value is based on observable inputs of comparable market transactions. (4) For government debt securities that are traded on active exchanges, fair value is based on observable quoted prices. (5) For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input. |
Fair Value Of The Benefit Plan Assets (Other Postretirement) | Other Postretirement Fair Value Measurement at December 31, 2019, Using: Net Asset Level 1 Level 2 Level 3 Value (1) Total (millions of dollars) Asset category: Equity securities U.S. - - - 81 81 Non-U.S. - - - 49 49 Debt securities Corporate - 92 (2) - - 92 Government - 200 (2) - - 200 Asset-backed - - - - - Cash - - - 3 3 Total at fair value - 292 - 133 425 (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. 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, 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 Plans With Accumulated Benefit Obligation In Excess Of Plan Assets | Pension Benefits U.S. Non-U.S. 2019 2018 2019 2018 (millions of dollars) For funded pension plans with an accumulated benefit obligation in excess of plan assets: Projected benefit obligation 18,292 15,738 3,616 4,037 Accumulated benefit obligation 14,940 13,208 3,026 3,671 Fair value of plan assets 13,636 11,134 1,381 3,499 For unfunded pension plans: Projected benefit obligation 2,667 2,436 5,274 6,331 Accumulated benefit obligation 1,447 1,475 4,629 5,670 |
Estimated Next Year Amortization | Other Pension Benefits Postretirement U.S. Non-U.S. Benefits (millions of dollars) Estimated 2020 amortization from accumulated other comprehensive income: Net actuarial loss/(gain) (1) 527 422 89 Prior service cost (2) 5 70 ( 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 2020 1,030 515 - - Benefit payments expected in: 2020 1,440 1,171 444 20 2021 1,339 1,162 445 21 2022 1,330 1,177 443 22 2023 1,328 1,199 440 23 2024 1,327 1,221 438 24 2025 - 2029 6,512 6,125 2,196 132 |
Disclosures About Segments An_2
Disclosures About Segments And Related Information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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, 2019 Earnings after income tax 536 13,906 1,717 606 206 386 ( 3,017) 14,340 Earnings of equity companies included above 282 4,534 196 19 ( 4) 818 ( 404) 5,441 Sales and other operating revenue 9,364 13,779 70,523 134,460 9,723 17,693 41 255,583 Intersegment revenue 10,893 30,864 22,416 24,775 7,864 5,905 224 - Depreciation and depletion expense 6,162 9,305 674 832 555 621 849 18,998 Interest revenue - - - - - - 84 84 Interest expense 54 34 1 9 - 1 731 830 Income tax expense (benefit) ( 151) 5,509 465 361 58 305 ( 1,265) 5,282 Additions to property, plant and equipment 10,404 7,347 2,685 1,777 1,344 589 758 24,904 Investments in equity companies 5,313 17,736 319 1,062 1,835 3,335 ( 309) 29,291 Total assets 95,750 151,181 23,442 37,133 16,544 20,376 18,171 362,597 As of December 31, 2018 Earnings after income tax 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 |
Geographic Sales And Other Operating Revenue | Geographic Sales and other operating revenue 2019 2018 2017 (millions of dollars) United States 89,612 96,930 82,079 Non-U.S. 165,971 182,402 155,083 Total 255,583 279,332 237,162 Significant non-U.S. revenue sources include: (1) Canada 19,735 22,672 20,116 United Kingdom 17,479 18,702 16,611 France 12,740 13,637 11,235 Singapore 12,128 13,689 11,589 Belgium 11,644 15,664 13,633 Italy 10,459 13,396 11,476 (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 2019 2018 2017 (millions of dollars) United States 114,372 108,147 105,101 Non-U.S. 138,646 138,954 147,529 Total 253,018 247,101 252,630 Significant non-U.S. long-lived assets include: Canada 39,130 37,433 41,138 Australia 13,933 14,548 16,908 Singapore 11,645 11,148 11,292 Kazakhstan 9,315 9,726 10,121 Papua New Guinea 8,057 8,269 8,463 Nigeria 7,640 8,421 9,734 Angola 5,784 7,021 7,689 United Arab Emirates 5,262 4,859 4,304 Russia 5,135 5,456 5,702 |
Income And Other Taxes (Tables)
Income And Other Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income And Other Taxes [Abstract] | |
Schedule Of Income And Other Taxes | 2019 2018 2017 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 ( 121) 6,171 6,050 459 9,001 9,460 577 6,633 7,210 Deferred - net ( 255) ( 420) ( 675) 518 ( 614) ( 96) ( 9,075) 754 ( 8,321) U.S. tax on non-U.S. operations 89 - 89 42 - 42 17 - 17 Total federal and non-U.S. ( 287) 5,751 5,464 1,019 8,387 9,406 ( 8,481) 7,387 ( 1,094) State ( 182) - ( 182) 126 - 126 ( 80) - ( 80) Total income tax expense ( 469) 5,751 5,282 1,145 8,387 9,532 ( 8,561) 7,387 ( 1,174) All other taxes and duties Other taxes and duties 3,566 26,959 30,525 3,498 29,165 32,663 3,330 26,774 30,104 Included in production and manufacturing expenses 1,385 811 2,196 1,245 857 2,102 1,107 747 1,854 Included in SG&A expenses 160 305 465 153 312 465 147 354 501 Total other taxes and duties 5,111 28,075 33,186 4,896 30,334 35,230 4,584 27,875 32,459 Total 4,642 33,826 38,468 6,041 38,721 44,762 ( 3,977) 35,262 31,285 |
Reconciliation Between Income Tax Expense And A Theoretical U.S. Tax | 2019 2018 2017 (millions of dollars) Income before income taxes United States ( 53) 5,200 ( 754) Non-U.S. 20,109 25,753 19,428 Total 20,056 30,953 18,674 Theoretical tax 4,212 6,500 6,536 Effect of equity method of accounting ( 1,143) ( 1,545) ( 1,883) Non-U.S. taxes in excess of/(less than) theoretical U.S. tax (1) 2,573 4,626 1,848 Enactment-date effects of U.S. tax reform - ( 291) ( 5,942) Other (2) ( 360) 242 ( 1,733) Total income tax expense 5,282 9,532 ( 1,174) Effective tax rate calculation Income taxes 5,282 9,532 ( 1,174) ExxonMobil share of equity company income taxes 2,490 3,142 2,228 Total income taxes 7,772 12,674 1,054 Net income including noncontrolling interests 14,774 21,421 19,848 Total income before taxes 22,546 34,095 20,902 Effective income tax rate 34% 37% 5% (1) 2019 includes taxes less than the theoretical U.S. tax of $ 773 million from Norway operations and the sale of upstream assets, $ 657 million from a tax rate change in Alberta, Canada, and $ 268 million from an adjustment to a prior year tax position. (2) 2017 includes taxes less than the theoretical U.S. tax of $ 708 million from an exploration tax benefit. |
Deferred Tax Liabilities/(Assets) | Tax effects of temporary differences for: 2019 2018 (millions of dollars) Property, plant and equipment 36,029 35,745 Other liabilities 7,653 6,516 Total deferred tax liabilities 43,682 42,261 Pension and other postretirement benefits ( 4,712) ( 4,115) Asset retirement obligations ( 3,403) ( 4,118) Tax loss carryforwards ( 7,404) ( 6,321) Other assets ( 7,735) ( 5,498) Total deferred tax assets ( 23,254) ( 20,052) Asset valuation allowances 1,924 1,826 Net deferred tax liabilities 22,352 24,035 |
Deferred Income Tax (Assets) And Liabilities By Balance Sheet Classification | Balance sheet classification 2019 2018 (millions of dollars) Other assets, including intangibles, net ( 3,268) ( 3,209) Deferred income tax liabilities 25,620 27,244 Net deferred tax liabilities 22,352 24,035 |
Unrecognized Tax Benefits | Gross unrecognized tax benefits 2019 2018 2017 (millions of dollars) Balance at January 1 9,174 8,783 9,468 Additions based on current year's tax positions 287 375 522 Additions for prior years' tax positions 120 240 523 Reductions for prior years' tax positions ( 97) ( 125) ( 865) Reductions due to lapse of the statute of limitations ( 279) ( 5) ( 113) Settlements with tax authorities ( 538) ( 68) ( 782) Foreign exchange effects/other 177 ( 26) 30 Balance at December 31 8,844 9,174 8,783 |
Remaining Tax Years Subject To Examination By Major Tax Jurisdiction | Country of Operation Open Tax Years Abu Dhabi 2018 - 2019 Angola 2018 - 2019 Australia 2010 - 2019 Belgium 2017 - 2019 Canada 2000 - 2019 Equatorial Guinea 2007 - 2019 Indonesia 2007 - 2019 Iraq 2014 - 2019 Malaysia 2011 - 2019 Nigeria 2006 - 2019 Norway 2007 - 2019 Papua New Guinea 2008 - 2019 Russia 2017 - 2019 United Kingdom 2015 - 2019 United States 2006 - 2019 |
Accounting Changes (Details)
Accounting Changes (Details) - Operating Lease [Member] $ in Billions | Jan. 01, 2019USD ($) |
Lessee Lease Description [Line Items] | |
Total operating lease liability | $ 3.3 |
Operating lease right of use asset | 4.3 |
Previously recorded prepaid lease | 1 |
Cumulative earnings effect adjustment | $ 0 |
Miscellaneous Financial Infor_3
Miscellaneous Financial Information (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Miscellaneous Financial Information [Abstract] | |||
Research and development expense | $ 1,214 | $ 1,116 | $ 1,063 |
Foreign currency transaction gain/(loss), before tax | (104) | (138) | 6 |
Gains/(losses) on combined effects of LIFO inventory accumulations and draw-downs | 523 | 107 | $ (10) |
Aggregate replacement cost of inventories estimated to exceed LIFO carrying values | $ 9,700 | $ 8,200 |
Miscellaneous Financial Infor_4
Miscellaneous Financial Information (Crude Oil, Products And Merchandise) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Miscellaneous Financial Information [Abstract] | ||
Crude oil | $ 5,111 | $ 4,783 |
Petroleum products | 5,281 | 5,666 |
Chemical products | 3,240 | 3,821 |
Gas / other | 378 | 533 |
Total | $ 14,010 | $ 14,803 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease [Abstract] | |||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | $ 1,735 | $ (5,077) | $ 5,352 |
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 | (2,092) | 280 | (219) |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 582 | 931 | 1,165 |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | |||
Beginning Balance, Total | (19,564) | ||
Ending Balance, Total | (19,493) | (19,564) | |
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 | (13,881) | (9,482) | (14,501) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 1,435 | (4,595) | 4,879 |
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 | 1,435 | (4,399) | 5,019 |
Ending Balance, Cumulative Foreign Exchange Translation Adjustment | (12,446) | (13,881) | (9,482) |
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease [Abstract] | |||
Beginning Balance, Postretirement Benefits Reserves Adjustment | (5,683) | (6,780) | (7,738) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | (1,927) | 201 | (170) |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 563 | 896 | 1,128 |
Total change in accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | (1,364) | 1,097 | 958 |
Ending Balance, Postretirement Benefits Reserves Adjustment | (7,047) | (5,683) | (6,780) |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | |||
Beginning Balance, Total | (19,564) | (16,262) | (22,239) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Total | (492) | (4,394) | 4,709 |
Amounts reclassified from accumulated other comprehensive income, Total | 563 | 1,092 | 1,268 |
Total change in accumulated other comprehensive income | 71 | (3,302) | 5,977 |
Ending Balance, Total | $ (19,493) | $ (19,564) | $ (16,262) |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
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) | $ (751) | $ (1,208) | $ (1,656) |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Other Comprehensive Income Information Tax [Abstract] | |||
Foreign exchange translation adjustment | $ 88 | $ 32 | $ 67 |
Postretirement benefits reserves adjustment (excluding amortization) | 719 | (193) | 201 |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | (169) | (277) | (491) |
Total | $ 638 | $ (438) | $ (223) |
Cash Flow Information (Cash Pay
Cash Flow Information (Cash Payments For Interest And Income Taxes) (Narrative) (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
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 | $ 4,600 | $ 275 | $ (121) |
Proceeds from issuance of commercial paper | 18,900 | 4,000 | 3,600 |
Repayments of commercial paper | $ 14,300 | $ 3,800 | $ 3,700 |
Cash Flow Information (Cash P_2
Cash Flow Information (Cash Payments For Interest And Income Taxes) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash Flow Information [Abstract] | |||
Income taxes paid | $ 7,018 | $ 9,294 | $ 7,510 |
Cash interest paid - Included in cash flows from operating activities | 560 | 303 | 383 |
Cash interest paid - capitalized, included in cash flows from investing activities | 731 | 652 | 749 |
Total cash interest paid | $ 1,291 | $ 955 | $ 1,132 |
Additional Working Capital In_3
Additional Working Capital Information (Narrative) (Details) - USD ($) $ in Billions | Dec. 31, 2019 | Dec. 31, 2018 |
Line Of Credit Facility [Line Items] | ||
Weighted-average interest rate on short-term borrowings outstanding | 1.70% | 2.40% |
Short Term Financing [Member] | ||
Line Of Credit Facility [Line Items] | ||
Unused credit lines | $ 7.9 |
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, 2019 | Dec. 31, 2018 |
Notes and Accounts Receivable [Abstract] | ||
Trade notes and accounts receivable, less reserves of $34 million and $61 million | $ 21,100 | $ 19,638 |
Other notes and accounts receivable, less reserves of $371 million and $339 million | 5,866 | 5,063 |
Total notes and accounts receivable | 26,966 | 24,701 |
Trade notes and accounts receivable, reserves | 34 | 61 |
Other notes and accounts receivable, reserves | 371 | 339 |
Notes And Loans Payable [Abstract] | ||
Bank loans | 316 | 325 |
Commercial paper | 18,561 | 12,863 |
Long-term debt due within one year | 1,701 | 4,070 |
Total notes and loans payable | 20,578 | 17,258 |
Accounts Payable And Accrued Liabilities Current [Abstract] | ||
Trade payables | 24,694 | 21,063 |
Payables to equity companies | 6,825 | 6,863 |
Accrued taxes other than income taxes | 3,301 | 3,280 |
Other accounts payable and accrued liabilities | 7,011 | 6,062 |
Total accounts payable and accrued liabilities | $ 41,831 | $ 37,268 |
Equity Company Information (Nar
Equity Company Information (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Equity Company Information [Abstract] | |||
Share of equity company revenues from sales to consolidated companies | 13.00% | 14.00% | 15.00% |
Equity Company Information (Sch
Equity Company Information (Schedule Of Equity Company Financial Summary) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule of Equity Method Investments [Line Items] | |||
Investments (Companies carried at equity in underlying assets) | $ 29,291 | $ 26,382 | $ 24,354 |
Total Equity Company Including All Owners [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Total revenues | 102,365 | 112,938 | 94,791 |
Income before income taxes | 29,424 | 37,203 | 29,748 |
Income taxes | 9,725 | 11,568 | 8,421 |
Income from equity affiliates | 19,699 | 25,635 | 21,327 |
Current assets | 36,035 | 38,670 | 35,367 |
Long-term assets | 143,321 | 128,830 | 122,221 |
Total assets | 179,356 | 167,500 | 157,588 |
Current liabilities | 24,583 | 27,324 | 21,725 |
Long-term liabilities | 61,022 | 56,913 | 59,736 |
Investments (Companies carried at equity in underlying assets) | 93,751 | 83,263 | 76,127 |
Exxon Mobil Corporation Share After Noncontrolling Interest [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Total revenues | 31,240 | 34,539 | 29,340 |
Income before income taxes | 7,927 | 10,482 | 8,498 |
Income taxes | 2,500 | 3,151 | 2,236 |
Income from equity affiliates | 5,427 | 7,331 | 6,262 |
Current assets | 12,661 | 13,394 | 12,050 |
Long-term assets | 40,001 | 35,970 | 34,931 |
Total assets | 52,662 | 49,364 | 46,981 |
Current liabilities | 6,939 | 7,606 | 6,348 |
Long-term liabilities | 18,158 | 17,109 | 17,056 |
Investments (Companies carried at equity in underlying assets) | $ 27,565 | $ 24,649 | $ 23,577 |
Equity Company Information (S_2
Equity Company Information (Schedule Of The Corporation's Percentage Ownership Interest) (Details) | Dec. 31, 2019 |
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] | Coral FLNG, S.A. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 25.00% |
Upstream [Member] | Cross Timbers Energy, LLC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 50.00% |
Upstream [Member] | Golden Pass Pipeline LLC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 30.00% |
Upstream [Member] | Golden Pass LNG Terminal LLC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 30.00% |
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] | Papua New Guinea Liquefied Natural Gas Global Company LDC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 33.00% |
Upstream [Member] | Permian Highway Pipeline LLC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 20.00% |
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] | Alberta Products Pipe Line Ltd. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Percentage ownership interest | 45.00% |
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 LLP [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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Investments, Advances And Long-Term Receivables [Abstract] | |||
Investments | $ 29,291 | $ 26,382 | $ 24,354 |
Advances | 8,542 | 8,608 | |
Total equity method company investments and advances | 37,833 | 34,990 | |
Equity securities carried at fair value and other investments at adjusted cost basis | 190 | 210 | |
Long-term receivables and miscellaneous, net of reserves of $5,643 million and $5,471 million | 5,141 | 5,590 | |
Total | 43,164 | 40,790 | |
Reserves for long-term receivables and miscellaneous investments | $ 5,643 | $ 5,471 |
Property, Plant And Equipment_3
Property, Plant And Equipment And Asset Retirement Obligations (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Asset impairment charges, before-tax | $ 100 | $ 700 | $ 2,000 |
Accumulated depreciation and depletion | 233,684 | 230,089 | |
Interest capitalized | 731 | 652 | $ 749 |
Long-term asset retirement obligations | $ 10,279 | $ 11,185 |
Property, Plant And Equipment_4
Property, Plant And Equipment And Asset Retirement Obligations (Property, Plant And Equipment) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | $ 486,702 | $ 477,190 | |
Property, plant and equipment, net | 253,018 | 247,101 | $ 252,630 |
Upstream [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | 376,041 | 372,791 | |
Property, plant and equipment, net | 196,767 | 194,662 | |
Downstream [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | 52,527 | 48,241 | |
Property, plant and equipment, net | 24,506 | 21,448 | |
Chemical [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | 40,788 | 39,008 | |
Property, plant and equipment, net | 21,260 | 20,551 | |
Other [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, cost | 17,346 | 17,150 | |
Property, plant and equipment, net | $ 10,485 | $ 10,440 |
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, 2019 | Dec. 31, 2018 | |
Property, Plant And Equipment And Asset Retirement Obligations [Abstract] | ||
Beginning balance | $ 12,103 | $ 12,705 |
Accretion expense and other provisions | 649 | 681 |
Reduction due to property sales | (1,085) | (333) |
Payments made | (827) | (600) |
Liabilities incurred | 89 | 46 |
Foreign currency translation | 84 | (481) |
Revisions | 267 | 85 |
Ending balance | $ 11,280 | $ 12,103 |
Accounting For Suspended Expl_3
Accounting For Suspended Exploratory Well Costs (Narrative) (Details) $ in Millions | Dec. 31, 2019USD ($)Projects | Dec. 31, 2018USD ($)Projects | Dec. 31, 2017USD ($)Projects | Dec. 31, 2016USD ($) |
Exploratory Wells Drilled [Line Items] | ||||
Number of projects that have exploratory well costs capitalized for a period of greater than one year | 46 | 52 | 46 | |
Number of projects that have drilling in the preceding twelve months or exploratory activity planned in the next two years as of December 31, 2019 | 14 | |||
Number of projects with completed exploratory activity progressing toward development as of December 31, 2019 | 32 | |||
Capitalized exploratory well costs | $ | $ 4,613 | $ 4,160 | $ 3,700 | $ 4,477 |
32 Projects [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ | $ 3,176 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accounting For Suspended Exploratory Well Costs [Abstract] | |||
Balance beginning at January 1 | $ 4,160 | $ 3,700 | $ 4,477 |
Additions pending the determination of proved reserves | 532 | 564 | 906 |
Charged to expense | (46) | (7) | (1,205) |
Reclassifications to wells, facilities and equipment based on the determination of proved reserves | (37) | (48) | (497) |
Divestments/Other | 4 | (49) | 19 |
Ending balance at December 31 | 4,613 | 4,160 | 3,700 |
Ending balance attributed to equity companies included above | $ 306 | $ 306 | $ 306 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Projects with Exploratory Well Costs Capitalized for More than One Year [Line Items] | ||||
Capitalized for a period of one year or less | $ 532 | $ 564 | $ 906 | |
Capitalized for a period greater than one year - subtotal | 4,081 | 3,596 | 2,794 | |
Capitalized suspended exploratory well costs, total | 4,613 | 4,160 | 3,700 | $ 4,477 |
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 | 2,206 | 2,028 | 1,345 | |
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 | 1,411 | 1,150 | 1,064 | |
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 | $ 464 | $ 418 | $ 385 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
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 | 4 | 6 | 11 |
Number of projects that have exploratory well costs capitalized for a period of greater than one year | 46 | 52 | 46 |
Total | 50 | 58 | 57 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 4,613 | $ 4,160 | $ 3,700 | $ 4,477 |
32 Projects [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | 3,176 | |||
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 | 2006 | |||
Angola [Member] | Project in Angola - AB32 Central NE Hub [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2014 | |||
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 | 2005 | |||
Angola [Member] | Project in Angola - Kaombo Split Hub Phase 2 [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2006 | |||
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 | 2014 | |||
Argentina [Member] | Project in Argentina - La Invernada [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2014 | |||
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 | 2001 | |||
Australia [Member] | Project in Australia - East Pilchard [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2001 | |||
Australia [Member] | Project in Australia - Gorgon Area Ullage [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 315 | |||
Australia [Member] | Project in Australia - Gorgon Area Ullage [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 1994 | |||
Australia [Member] | Project in Australia - Gorgon Area Ullage [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2015 | |||
Australia [Member] | Project in Australia - SE Longtom [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 10 | |||
Australia [Member] | Project in Australia - SE Longtom [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2010 | |||
Australia [Member] | Project in Australia - SE Longtom [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2010 | |||
Australia [Member] | Project in Australia - SE Remora [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 32 | |||
Australia [Member] | Project in Australia - SE Remora [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2010 | |||
Australia [Member] | Project in Australia - SE Remora [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2010 | |||
Guyana [Member] | Project in Guyana - Payara [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 120 | |||
Guyana [Member] | Project in Guyana - Payara [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2017 | |||
Guyana [Member] | Project in Guyana - Payara [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2018 | |||
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 | 2015 | |||
Iraq [Member] | Project in Iraq - Kurdistan Pirmam [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2015 | |||
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 | 2004 | |||
Kazakhstan [Member] | Project in Kazakhstan - Kairan [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2007 | |||
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 | 2017 | |||
Mozambique [Member] | Project in Mozambique - Rovuma LNG Future Non-Straddling Train [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2017 | |||
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 | 2017 | |||
Mozambique [Member] | Project in Mozambique - Rovuma LNG Phase 1 [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2017 | |||
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 | 2017 | |||
Mozambique [Member] | Project in Mozambique - Rovuma LNG Unitized Trains [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2017 | |||
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 | 2002 | |||
Nigeria [Member] | Project in Nigeria - Bolia [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2006 | |||
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 | 2004 | |||
Nigeria [Member] | Project in Nigeria - Bonga North [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2009 | |||
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 | 2002 | |||
Nigeria [Member] | Project in Nigeria - Bosi [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2006 | |||
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 | 2006 | |||
Nigeria [Member] | Project in Nigeria - Bosi Central [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2006 | |||
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 | 2008 | |||
Nigeria [Member] | Project in Nigeria - Erha Northeast [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2008 | |||
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 | 2015 | |||
Nigeria [Member] | Project in Nigeria - OML 138 Ukot SS [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2015 | |||
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 | 2014 | |||
Nigeria [Member] | Project in Nigeria - OML 138 Ukot SW [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2014 | |||
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 | 2009 | |||
Nigeria [Member] | Project in Nigeria - Pegi [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2009 | |||
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 | 2013 | |||
Nigeria [Member] | Project in Nigeria - Satellite Field Development Phase 2 [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2013 | |||
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 | 2001 | |||
Nigeria [Member] | Other 4 Projects in Nigeria [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2002 | |||
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 | 2017 | |||
Papua New Guinea [Member] | Project in Papua New Guinea - Papua LNG [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2017 | |||
Papua New Guinea [Member] | Project in Papua New Guinea - P'nyang [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 115 | |||
Papua New Guinea [Member] | Project in Papua New Guinea - P'nyang [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2012 | |||
Papua New Guinea [Member] | Project in Papua New Guinea - P'nyang [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2018 | |||
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 | 2000 | |||
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 | 2007 | |||
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 | 2012 | |||
Romania [Member] | Project in Romania - Neptun Deep [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2016 | |||
Tanzania [Member] | Project in Tanzania - Tanzania Block 2 [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Capitalized exploratory well costs | $ 537 | |||
Tanzania [Member] | Project in Tanzania - Tanzania Block 2 [Member] | Minimum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2012 | |||
Tanzania [Member] | Project in Tanzania - Tanzania Block 2 [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2018 | |||
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 | 2011 | |||
Vietnam [Member] | Project in Vietnam - Blue Whale [Member] | Maximum [Member] | ||||
Exploratory Wells Drilled [Line Items] | ||||
Years wells drilled, period | 2015 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Jan. 01, 2019 | |
Lessee Lease Description [Line Items] | ||||
Lease payments under minimum commitments, total | $ 6,112 | |||
Rental cost | $ 2,715 | $ 2,618 | ||
Operating Lease [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Operating lease liability | $ 3,300 | |||
Operating lease right of use asset | 4,300 | |||
Previously recorded prepaid lease | 1,000 | |||
Cumulative earnings effect adjustment | $ 0 | |||
Operating Lease [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Operating lease liability | $ 5,693 | |||
Operating lease right of use asset | 6,633 | |||
Additional undiscounted commitments for leases not yet commenced | 848 | |||
Finance Lease [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Additional undiscounted commitments for leases not yet commenced | $ 3,721 |
Leases (Lease Cost) (Details)
Leases (Lease Cost) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Operating Lease [Member] | |
Operating Leased Assets [Line Items] | |
Operating lease cost | $ 1,434 |
Short-term and other (net of sublease rental income) | 2,042 |
Total | 3,476 |
Drilling Rigs and Related Equipment [Member] | |
Operating Leased Assets [Line Items] | |
Operating lease cost | 238 |
Short-term and other (net of sublease rental income) | 926 |
Total | 1,164 |
Other [Member] | |
Operating Leased Assets [Line Items] | |
Operating lease cost | 1,196 |
Short-term and other (net of sublease rental income) | 1,116 |
Total | 2,312 |
Finance Lease [Member] | |
Operating Leased Assets [Line Items] | |
Amortization of right-of-use assets | 121 |
Interest on lease liabilities | 133 |
Total | $ 254 |
Leases (Right of Use) (Details)
Leases (Right of Use) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Operating Lease [Member] | |
Lessee Lease Description [Line Items] | |
Operating lease right of use asset included in Other assets, including intangibles - net | $ 6,633 |
Total right of use assets | 6,633 |
Operating lease liability - current included in Accounts payable and accrued liabilities | 1,211 |
Operating lease liability - noncurrent included in Other long-term obligations | 4,482 |
Total operating lease liability | 5,693 |
Drilling Rigs and Related Equipment [Member] | |
Lessee Lease Description [Line Items] | |
Operating lease right of use asset included in Other assets, including intangibles - net | 572 |
Total right of use assets | 572 |
Operating lease liability - current included in Accounts payable and accrued liabilities | 221 |
Operating lease liability - noncurrent included in Other long-term obligations | 330 |
Total operating lease liability | 551 |
Other [Member] | |
Lessee Lease Description [Line Items] | |
Operating lease right of use asset included in Other assets, including intangibles - net | 6,061 |
Total right of use assets | 6,061 |
Operating lease liability - current included in Accounts payable and accrued liabilities | 990 |
Operating lease liability - noncurrent included in Other long-term obligations | 4,152 |
Total operating lease liability | 5,142 |
Finance Lease [Member] | |
Lessee Lease Description [Line Items] | |
Finance lease right of use asset included in Property, plant and equipment - net | 1,997 |
Total right of use assets | 1,997 |
Finance lease liability - current included in Accounts payable and accrued liabilities | 15 |
Finance lease liability - current included in Notes and loans payable | 84 |
Finance lease liability - noncurrent included in Long-term debt | 1,670 |
Finance lease liability - noncurrent included in Long-term obligations to equity companies | 139 |
Total finance lease liability | $ 1,908 |
Leases (Maturity Schedule) (Det
Leases (Maturity Schedule) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Operating Lease [Member] | |
Lessee Lease Description [Line Items] | |
Operating lease - 2020 | $ 1,361 |
Operating lease - 2021 | 1,020 |
Operating lease - 2022 | 698 |
Operating lease - 2023 | 513 |
Operating lease - 2024 | 455 |
Operating lease - 2025 and beyond | 2,753 |
Total operating lease payments | 6,800 |
Operating lease - discount to present value | (1,107) |
Total operating lease liability | $ 5,693 |
Operating lease weighted average remaining lease term - years | 10 years |
Operating lease weighted average discount rate - percent | 3.20% |
Drilling Rigs and Related Equipment [Member] | |
Lessee Lease Description [Line Items] | |
Operating lease - 2020 | $ 234 |
Operating lease - 2021 | 134 |
Operating lease - 2022 | 73 |
Operating lease - 2023 | 45 |
Operating lease - 2024 | 30 |
Operating lease - 2025 and beyond | 72 |
Total operating lease payments | 588 |
Operating lease - discount to present value | (37) |
Total operating lease liability | $ 551 |
Operating lease weighted average remaining lease term - years | 4 years |
Operating lease weighted average discount rate - percent | 3.10% |
Other [Member] | |
Lessee Lease Description [Line Items] | |
Operating lease - 2020 | $ 1,127 |
Operating lease - 2021 | 886 |
Operating lease - 2022 | 625 |
Operating lease - 2023 | 468 |
Operating lease - 2024 | 425 |
Operating lease - 2025 and beyond | 2,681 |
Total operating lease payments | 6,212 |
Operating lease - discount to present value | (1,070) |
Total operating lease liability | $ 5,142 |
Operating lease weighted average remaining lease term - years | 11 years |
Operating lease weighted average discount rate - percent | 3.20% |
Finance Lease [Member] | |
Lessee Lease Description [Line Items] | |
Finance lease - 2020 | $ 271 |
Finance lease - 2021 | 576 |
Finance lease - 2022 | 174 |
Finance lease - 2023 | 173 |
Finance lease - 2024 | 172 |
Finance lease - 2025 and beyond | 2,446 |
Total finance lease payments | 3,812 |
Finance lease - discount to present value | (1,904) |
Total finance lease liability | $ 1,908 |
Finance lease weighted average remaining lease term - years | 20 years |
Finance lease weighted average discount rate - percent | 9.70% |
Leases (Other Information) (Det
Leases (Other Information) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Jan. 01, 2019 | |
Operating Lease [Member] | ||
Lessee Lease Description [Line Items] | ||
Cash flows from operating activities | $ 1,116 | |
Cash flow from investing activities | 258 | |
For January 1 adoption of Topic 842 | $ 3,263 | |
Operating right-of-use assets obtained in exchange for new lease liabilities | 3,663 | |
Drilling Rigs and Related Equipment [Member] | ||
Lessee Lease Description [Line Items] | ||
Cash flow from investing activities | 258 | |
For January 1 adoption of Topic 842 | 445 | |
Operating right-of-use assets obtained in exchange for new lease liabilities | 350 | |
Other [Member] | ||
Lessee Lease Description [Line Items] | ||
Cash flows from operating activities | 1,116 | |
For January 1 adoption of Topic 842 | $ 2,818 | |
Operating right-of-use assets obtained in exchange for new lease liabilities | 3,313 | |
Finance Lease Paid To Equity Company [Member] | ||
Lessee Lease Description [Line Items] | ||
Cash flows from operating activities - finance leases | 54 | |
Finance Lease Paid To Third Parties [Member] | ||
Lessee Lease Description [Line Items] | ||
Cash flow from financing activities | 177 | |
Finance right-of-use assets obtained in exchange for new lease liabilities | $ 422 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Earnings per common share | ||||
Net income attributable to ExxonMobil | $ 14,340 | $ 20,840 | $ 19,710 | |
Weighted average number of common shares outstanding | 4,270 | 4,270 | 4,256 | |
Earnings per common share (dollars) | [1] | $ 3.36 | $ 4.88 | $ 4.63 |
Dividends paid per common share (dollars) | $ 3.43 | $ 3.23 | $ 3.06 | |
[1] | The earnings per common share and earnings per common share - assuming dilution are the same in each period shown. |
Financial Instruments And Der_3
Financial Instruments And Derivatives (Narrative) (Details) bbl in Millions, MMBTU in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($)MMBTUbbl | Dec. 31, 2018USD ($)bbl | Dec. 31, 2017USD ($) | |
Additions to long-term debt | $ | $ 7,052 | $ 46 | $ 60 |
Exxon Mobil Corporation [Member] | |||
Additions to long-term debt | $ | $ 7,000 | ||
Crude Oil [Member] | Long [Member] | |||
Net notional long / short position of derivative instruments bbl | 57 | ||
Crude Oil [Member] | Short [Member] | |||
Net notional long / short position of derivative instruments bbl | 19 | ||
Products [Member] | Short [Member] | |||
Net notional long / short position of derivative instruments bbl | 38 | 9 | |
Natural Gas [Member] | Short [Member] | |||
Net notional long / short position of derivative instruments MMBtus | MMBTU | 165 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | |
Total Gross Assets & Liabilities [Domain] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | $ 635 | $ 297 |
Advances to/receivables from equity companies | [2],[3] | 8,670 | 8,393 |
Other long-term financial assets | [4] | 2,119 | 1,822 |
Derivative liabilities | [5] | 638 | 151 |
Long-term debt | [6] | 25,789 | 19,150 |
Long-term obligations to equity companies | [2] | 4,245 | 4,330 |
Other long-term financial liabilities | [7] | 1,042 | 1,046 |
Net Carrying Value [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | 102 | |
Advances to/receivables from equity companies | [2],[3] | 8,542 | 8,608 |
Other long-term financial assets | [4] | 2,163 | 1,934 |
Derivative liabilities | [5] | 70 | |
Long-term debt | [6] | 24,672 | 19,235 |
Long-term obligations to equity companies | [2] | 3,988 | 4,382 |
Other long-term financial liabilities | [7] | 1,058 | 1,043 |
Effect Of Counterparty Netting [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | (463) | (151) |
Derivative liabilities | [5] | (463) | (151) |
Effect Of Collateral Netting [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | (70) | (146) |
Derivative liabilities | [5] | (105) | |
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] | (128) | 215 |
Other long-term financial assets | [4] | 44 | 112 |
Long-term debt | [6] | (1,117) | 85 |
Long-term obligations to equity companies | [2] | (257) | 52 |
Other long-term financial liabilities | [7] | 16 | (3) |
Level 1 [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | 533 | 297 |
Other long-term financial assets | [4] | 1,145 | 848 |
Derivative liabilities | [5] | 568 | 151 |
Long-term debt | [6] | 25,652 | 19,029 |
Level 2 [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | 102 | |
Advances to/receivables from equity companies | [2],[3] | 1,941 | 2,100 |
Derivative liabilities | [5] | 70 | |
Long-term debt | [6] | 134 | 117 |
Level 3 [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Advances to/receivables from equity companies | [2],[3] | 6,729 | 6,293 |
Other long-term financial assets | [4] | 974 | 974 |
Long-term debt | [6] | 3 | 4 |
Long-term obligations to equity companies | [2] | 4,245 | 4,330 |
Other long-term financial liabilities | [7] | $ 1,042 | $ 1,046 |
[1] | Included in the Balance Sheet lines: Notes and accounts receivable, less estimated doubtful amounts and Other assets, including intangibles, net | ||
[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 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 lines: Accounts payable and accrued liabilities and Other long-term obligations | ||
[6] | Excluding finance 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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Realized and Unrealized Before-Tax Gain / Loss on Derivative Instruments Recognized in the Consolidated Statement of Income | |||
Sales and other operating revenue | $ 255,583 | $ 279,332 | $ 237,162 |
Crude oil and product purchases | 143,801 | 156,172 | 128,217 |
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 | (412) | 130 | 6 |
Crude oil and product purchases | 179 | (120) | (105) |
Total | $ (233) | $ 10 | $ (99) |
Long-Term Debt (Narrative) (Det
Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Long-term Debt [Line Items] | |||
Long-term debt in U.S. dollars | $ 25,710 | ||
U.S. dollar equivalent at year-end exchange rates of amounts payable in foreign currencies | 632 | ||
Portion of long-term debt included in current liability | 1,617 | ||
Long-term debt maturing - 2021 | 2,803 | ||
Long-term debt maturing - 2022 | 3,316 | ||
Long-term debt maturing - 2023 | 1,261 | ||
Long-term debt maturing - 2024 | 2,130 | ||
Additions to long-term debt | 7,052 | $ 46 | $ 60 |
Exxon Mobil Corporation [Member] | |||
Long-term Debt [Line Items] | |||
Additions to long-term debt | 7,000 | ||
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, 2019 | Dec. 31, 2018 | ||
Long-term Debt [Line Items] | |||
Debt issuance costs | $ (60) | $ (42) | |
Long-term debt | 26,342 | 20,538 | |
XTO Energy Inc. [Member] | |||
Long-term Debt [Line Items] | |||
Debt instrument, unamortized premium | 92 | 97 | |
Combined Exxon Mobil And Affiliates [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Other long-term debt | 89 | 102 | |
Combined Exxon Mobil And Affiliates [Member] | Other Foreign Currency Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Other long-term debt | 64 | 38 | |
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 | ||
Interest rate | 1.912% | ||
Debt maturity | 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 (Issued 2015) [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 | |
1.902% Notes Due 2022 (Issued 2019) [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 750 | ||
Interest rate | 1.902% | ||
Debt maturity | Aug. 16, 2022 | ||
Floating-Rate Notes Due 2022 (Issued 2015) [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] | 2.792% | |
Floating-Rate Notes Due 2022 (Issued 2019) [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 750 | ||
Debt maturity | Aug. 16, 2022 | ||
Average effective interest rate | [1] | 2.414% | |
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 (Issued 2014) [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 | |
2.019% Notes Due 2024 (Issued 2019) [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,000 | ||
Interest rate | 2.019% | ||
Debt maturity | Aug. 16, 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 (Issued 2016) [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 | |
2.275% Notes Due 2026 (Issued 2019) [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,000 | ||
Interest rate | 2.275% | ||
Debt maturity | Aug. 16, 2026 | ||
2.440% Notes Due 2029 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,250 | ||
Interest rate | 2.44% | ||
Debt maturity | Aug. 16, 2029 | ||
2.995% Notes Due 2039 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 750 | ||
Interest rate | 2.995% | ||
Debt maturity | Aug. 16, 2039 | ||
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 | |
3.095% Notes Due 2049 [Member] | Exxon Mobil Corporation [Member] | Other U.S. Dollar Obligations [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 1,500 | ||
Interest rate | 3.095% | ||
Debt maturity | Aug. 16, 2049 | ||
6.100% Senior Notes Due 2036 [Member] | XTO Energy Inc. [Member] | |||
Long-term Debt [Line Items] | |||
Senior notes, noncurrent | $ 193 | $ 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 | $ 296 | $ 299 | |
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 | $ 229 | $ 230 | |
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 2020-2051 [Member] | Combined Exxon Mobil And Affiliates [Member] | |||
Long-term Debt [Line Items] | |||
Other long-term debt | $ 2,461 | $ 2,513 | |
Debt instrument, maturity date range, start | Jun. 1, 2020 | Jun. 1, 2020 | |
Debt instrument, maturity date range, end | Dec. 1, 2051 | Dec. 1, 2051 | |
Average effective interest rate | [1] | 1.388% | |
Finance Lease Obligations [Member] | Combined Exxon Mobil And Affiliates [Member] | |||
Long-term Debt [Line Items] | |||
Average effective interest rate | [1] | 9.518% | |
Finance lease obligations | $ 1,670 | $ 1,303 | |
[1] | Average effective interest rate for debt and average imputed interest rate for finance leases at December 31, 2019. |
Incentive Program (Narrative) (
Incentive Program (Narrative) (Details) - USD ($) shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
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 | 76,000 | ||
Restricted Stock [Member] | |||
Long-term incentive awards | 8,936 | 8,771 | 8,916 |
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 | $ 1,754 | ||
Unrecognized compensation cost, weighted-average period of recognition, years | 4 years 4 months 24 days | ||
Compensation cost charged against income | $ 741 | $ 774 | $ 856 |
Income tax benefit recognized in income | 51 | 42 | 78 |
Fair value of shares/awards vested | 647 | 722 | 826 |
Cash payments, vested restricted stock units | $ 56 | $ 61 | $ 64 |
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, 2019$ / sharesshares | |
Incentive Program [Abstract] | |
Issued and outstanding at January 1, Restricted stock, Shares | shares | 40,381 |
Awards issued in 2019, Shares | shares | 8,799 |
Vested, Shares | shares | (9,427) |
Forfeited, Shares | shares | (125) |
Issued and outstanding at December 31, Restricted stock, Shares | shares | 39,628 |
Issued and outstanding at January 1, Weighted Average Grant-Date Fair Value per Share | $ / shares | $ 86.56 |
Awards issued in 2019, Weighted Average Grant-Date Fair Value per Share | $ / shares | 77.66 |
Vested, Weighted Average Grant-Date Fair Value per Share | $ / shares | 86.94 |
Forfeited, Weighted Average Grant-Date Fair Value per Share | $ / shares | 85.35 |
Issued and outstanding at December 31, Weighted Average Grant-Date Fair Value per Share | $ / shares | $ 84.50 |
Incentive Program (Grant Value
Incentive Program (Grant Value Of Restricted Stock Units) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Grant price, per share | $ 68.77 | $ 77.66 | $ 81.89 |
Units settled in stock | $ 559 | $ 620 | $ 667 |
Units settled in cash | 55 | 61 | 63 |
Total value | $ 614 | $ 681 | $ 730 |
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] | ||||
Litigation And Other Contingencies [Line Items] | ||||
Percentage ownership interest in Cerro Negro Project | 41.67% | |||
Cerro Negro award for breach of contractual obligations | $ 908 | |||
Annulled Portion Of Award For Cerro Negro Project | $ 1,400 | |||
Retained and paid portion of award for Cerro Negro and La Ceiba Projects | $ 260 | |||
Nigeria Production Sharing Contract Litigation [Member] | ||||
Litigation And Other Contingencies [Line Items] | ||||
Percent interest in Erha block PSC | 56.25% | |||
Pending Or Threatened Litigation [Member] | ||||
Litigation And Other Contingencies [Line Items] | ||||
Amount of award relating to excess lifting of crude oil | $ 1,800 | |||
Accrued interest relating to award for excess lifting of crude oil | $ 234 |
Litigation And Other Continge_4
Litigation And Other Contingencies (Schedule Of Guarantees) (Details) $ in Millions | Dec. 31, 2019USD ($) | |
Loss Contingencies [Line Items] | ||
Guarantees | $ 6,955 | |
Equity Company Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 1,700 | [1] |
Other Third-Party Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 5,255 | |
Debt-Related Guarantees [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 931 | |
Debt-Related Guarantees [Member] | Equity Company Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 827 | [1] |
Debt-Related Guarantees [Member] | Other Third-Party Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 104 | |
Other Guarantees [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 6,024 | |
Other Guarantees [Member] | Equity Company Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | 873 | [1] |
Other Guarantees [Member] | Other Third-Party Obligations [Member] | ||
Loss Contingencies [Line Items] | ||
Guarantees | $ 5,151 | |
[1] | ExxonMobil share. |
Pension And Other Postretirem_3
Pension And Other Postretirement Benefits (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Health care cost trend rate | 4.50% | ||
Year that rate reaches ultimate trend rate | 2021 | ||
Effect of one-percentage-point increase on service and interest costs | $ 85 | ||
Effect of one-percentage-point increase on postretirement benefit obligation | 921 | ||
Effect of one-percentage-point decrease on service and interest costs | 63 | ||
Effect of one-percentage-point decrease on postretirement benefit obligation | 726 | ||
Costs for defined contribution plans | $ 422 | $ 391 | $ 384 |
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 | 4.00% | ||
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Defined Benefit Plan Disclosure [Line Items] | ||||
Medicare subsidy receipts | $ 20 | $ 13 | ||
U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 3.50% | 4.40% | ||
Long-term rate of compensation increase | 5.75% | 5.75% | ||
Benefit obligation at January 1 | $ 18,174 | $ 19,310 | ||
Service cost | 757 | 819 | $ 784 | |
Interest cost | 766 | 721 | 798 | |
Defined benefit plan, actuarial net (gains) losses | 2,562 | (957) | ||
Benefits paid | [1],[2] | (1,300) | (1,715) | |
Amendments, divestments and other | (4) | |||
Benefit obligation at December 31 | 20,959 | 18,174 | 19,310 | |
Accumulated benefit obligation at December 31 | $ 16,387 | $ 14,683 | ||
Pension Benefits - Non-U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 2.30% | 3.00% | ||
Long-term rate of compensation increase | 4.80% | 4.30% | ||
Benefit obligation at January 1 | $ 25,378 | $ 27,963 | ||
Service cost | 551 | 608 | 596 | |
Interest cost | 763 | 754 | 772 | |
Defined benefit plan, actuarial net (gains) losses | 3,703 | (1,034) | ||
Benefits paid | [1],[2] | (1,196) | (1,284) | |
Foreign exchange rate changes | 391 | (1,664) | ||
Amendments, divestments and other | 328 | 35 | ||
Benefit obligation at December 31 | 29,918 | 25,378 | 27,963 | |
Accumulated benefit obligation at December 31 | $ 27,236 | $ 23,350 | ||
Other Postretirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 3.50% | 4.40% | ||
Long-term rate of compensation increase | 5.75% | 5.75% | ||
Benefit obligation at January 1 | $ 7,471 | $ 8,100 | ||
Service cost | 139 | 152 | 129 | |
Interest cost | 315 | 301 | 317 | |
Defined benefit plan, actuarial net (gains) losses | 556 | (630) | ||
Benefits paid | [1],[2] | (517) | (528) | |
Foreign exchange rate changes | 25 | (49) | ||
Amendments, divestments and other | 124 | 125 | ||
Benefit obligation at December 31 | $ 8,113 | $ 7,471 | $ 8,100 | |
[1] | Benefit payments for funded and unfunded plans. | |||
[2] | For 2019 and 2018, other postretirement benefits paid are net of $ 20 million and $ 13 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, 2019 | Dec. 31, 2018 | ||
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value at January 1 | $ 11,134 | $ 12,782 | |
Actual return on plan assets | 2,521 | (710) | |
Company contribution | 1,022 | 491 | |
Benefits paid | [1] | (1,041) | (1,429) |
Fair value at December 31 | 13,636 | 11,134 | |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value at January 1 | 19,486 | 21,461 | |
Actual return on plan assets | 3,210 | (15) | |
Foreign exchange rate changes | 513 | (1,320) | |
Company contribution | 602 | 438 | |
Benefits paid | [1] | (883) | (903) |
Other | (12) | (175) | |
Fair value at December 31 | 22,916 | 19,486 | |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value at January 1 | 386 | 427 | |
Actual return on plan assets | 54 | (13) | |
Company contribution | 41 | 30 | |
Benefits paid | [1] | (56) | (58) |
Fair value at December 31 | $ 425 | $ 386 | |
[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, 2019 | Dec. 31, 2018 | |
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan funded status of plan | $ (4,656) | $ (4,604) | |
Unfunded plans | (2,667) | (2,436) | |
Total | [1] | (7,323) | (7,040) |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan funded status of plan | (1,728) | 439 | |
Unfunded plans | (5,274) | (6,331) | |
Total | [1] | $ (7,002) | $ (5,892) |
[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, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Postretirement benefits reserves | $ (22,304) | $ (20,272) | |
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at December 31 | [1] | (7,323) | (7,040) |
Current liabilities | (242) | (243) | |
Postretirement benefits reserves | (7,081) | (6,797) | |
Total recorded | [1] | (7,323) | (7,040) |
Net actuarial loss/(gain) | 3,971 | 3,831 | |
Prior service cost | 1 | 6 | |
Total recorded in accumulated other comprehensive income | 3,972 | 3,837 | |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at December 31 | [1] | (7,002) | (5,892) |
Other assets | 1,151 | 1,174 | |
Current liabilities | (267) | (314) | |
Postretirement benefits reserves | (7,886) | (6,752) | |
Total recorded | [1] | (7,002) | (5,892) |
Net actuarial loss/(gain) | 5,662 | 4,713 | |
Prior service cost | 360 | (93) | |
Total recorded in accumulated other comprehensive income | 6,022 | 4,620 | |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at December 31 | [1] | (7,688) | (7,085) |
Current liabilities | (351) | (362) | |
Postretirement benefits reserves | (7,337) | (6,723) | |
Total recorded | [1] | (7,688) | (7,085) |
Net actuarial loss/(gain) | 1,339 | 877 | |
Prior service cost | (315) | (357) | |
Total recorded in accumulated other comprehensive income | $ 1,024 | $ 520 | |
[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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Total recorded in other comprehensive income | $ 2,041 | $ (1,657) | $ (1,279) |
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.40% | 3.80% | 4.25% |
Long-term rate of return on funded assets | 5.30% | 6.00% | 6.50% |
Long-term rate of compensation increase | 5.75% | 5.75% | 5.75% |
Service cost | $ 757 | $ 819 | $ 784 |
Interest cost | 766 | 721 | 798 |
Expected return on plan assets | (568) | (727) | (775) |
Amortization of actuarial loss/(gain) | 305 | 362 | 438 |
Amortization of prior service cost | 5 | 5 | 5 |
Net pension enhancement and curtailment/settlement cost | 164 | 268 | 609 |
Net periodic benefit cost | 1,429 | 1,448 | 1,859 |
Net actuarial loss/(gain) | 609 | 479 | (324) |
Amortization of actuarial (loss)/gain | (469) | (630) | (1,047) |
Amortization of prior service (cost)/credit | (5) | (5) | (5) |
Total recorded in other comprehensive income | 135 | (156) | (1,376) |
Total recorded in net periodic benefit cost and other comprehensive income, before tax | $ 1,564 | $ 1,292 | $ 483 |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 3.00% | 2.80% | 3.00% |
Long-term rate of return on funded assets | 4.10% | 4.70% | 5.20% |
Long-term rate of compensation increase | 4.30% | 4.30% | 4.00% |
Service cost | $ 551 | $ 608 | $ 596 |
Interest cost | 763 | 754 | 772 |
Expected return on plan assets | (777) | (951) | (1,000) |
Amortization of actuarial loss/(gain) | 306 | 409 | 476 |
Amortization of prior service cost | 56 | 46 | 47 |
Net pension enhancement and curtailment/settlement cost | (98) | 44 | 19 |
Net periodic benefit cost | 801 | 910 | 910 |
Net actuarial loss/(gain) | 1,268 | (66) | (191) |
Amortization of actuarial (loss)/gain | (208) | (453) | (495) |
Prior service cost/(credit) | 379 | 98 | 111 |
Amortization of prior service (cost)/credit | (56) | (46) | (47) |
Foreign exchange rate changes | 19 | (356) | 559 |
Total recorded in other comprehensive income | 1,402 | (823) | (63) |
Total recorded in net periodic benefit cost and other comprehensive income, before tax | $ 2,203 | $ 87 | $ 847 |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.40% | 3.80% | 4.25% |
Long-term rate of return on funded assets | 4.60% | 6.00% | 6.50% |
Long-term rate of compensation increase | 5.75% | 5.75% | 5.75% |
Service cost | $ 139 | $ 152 | $ 129 |
Interest cost | 315 | 301 | 317 |
Expected return on plan assets | (15) | (23) | (24) |
Amortization of actuarial loss/(gain) | 55 | 116 | 96 |
Amortization of prior service cost | (42) | (40) | (33) |
Net periodic benefit cost | 452 | 506 | 485 |
Net actuarial loss/(gain) | 517 | (594) | 215 |
Amortization of actuarial (loss)/gain | (55) | (116) | (96) |
Amortization of prior service (cost)/credit | 42 | 40 | 33 |
Foreign exchange rate changes | (8) | 8 | |
Total recorded in other comprehensive income | 504 | (678) | 160 |
Total recorded in net periodic benefit cost and other comprehensive income, before tax | $ 956 | $ (172) | $ 645 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Total (charge)/credit to other comprehensive income, before tax | $ (2,041) | $ 1,657 | $ 1,279 |
(Charge)/credit to income tax (see Note 4) | 550 | (470) | (290) |
(Charge)/credit to investment in equity companies | (19) | 24 | (43) |
(Charge)/credit to other comprehensive income including noncontrolling interests, after tax | (1,510) | 1,211 | 946 |
Charge/(credit) to equity of noncontrolling interests | 146 | (114) | 12 |
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 | (1,364) | 1,097 | 958 |
U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total (charge)/credit to other comprehensive income, before tax | (135) | 156 | 1,376 |
Pension Benefits - Non-U.S. [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total (charge)/credit to other comprehensive income, before tax | (1,402) | 823 | 63 |
Other Postretirement Benefits [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total (charge)/credit to other comprehensive income, before tax | $ (504) | $ 678 | $ (160) |
Pension And Other Postretire_10
Pension And Other Postretirement Benefits (Fair Value Of Benefit Plan Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | $ 13,636 | $ 11,134 | $ 12,782 | |
U.S. [Member] | Total At Fair Value [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 4,226 | 3,246 | |
Fair value of plan assets | 13,628 | 11,126 | ||
U.S. [Member] | U.S. Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 1,960 | 1,397 | |
Fair value of plan assets | 1,960 | 1,397 | ||
U.S. [Member] | Non-U.S. Equity Securities [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 1,656 | 1,218 | |
Fair value of plan assets | 1,656 | 1,218 | ||
U.S. [Member] | Private Equity [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 499 | 516 | |
Fair value of plan assets | 499 | 516 | ||
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 | 4,933 | 4,796 | ||
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 | 4,472 | 3,087 | ||
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] | 107 | 111 | |
Fair value of plan assets | 107 | 111 | ||
U.S. [Member] | Insurance Contracts At Contract Value [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 8 | 8 | ||
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 | 9,402 | 7,880 | ||
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] | 4,932 | 4,795 | |
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] | 4,470 | 3,085 | |
Pension Benefits - Non-U.S. [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 22,916 | 19,486 | $ 21,461 | |
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] | 22,210 | 18,908 | |
Fair value of plan assets | 22,894 | 19,465 | ||
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] | 3,436 | 2,648 | |
Fair value of plan assets | 3,436 | 2,648 | ||
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] | 3,015 | 2,436 | |
Fair value of plan assets | 3,085 | 2,493 | ||
Pension Benefits - Non-U.S. [Member] | Private Equity [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 489 | 513 | |
Fair value of plan assets | 489 | 513 | ||
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] | 4,486 | 3,713 | |
Fair value of plan assets | 4,615 | 3,815 | ||
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] | 10,511 | 9,326 | |
Fair value of plan assets | 10,930 | 9,666 | ||
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] | 212 | 218 | |
Fair value of plan assets | 233 | 246 | ||
Pension Benefits - Non-U.S. [Member] | Cash [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets, net asset value | [1] | 61 | 54 | |
Fair value of plan assets | 106 | 84 | ||
Pension Benefits - Non-U.S. [Member] | Insurance Contracts At Contract Value [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Fair value of plan assets | 22 | 21 | ||
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 | 383 | 327 | ||
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] | 70 | 57 | |
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] | 280 | 243 | |
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 | 33 | 27 | ||
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 | 301 | 230 | ||
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] | 129 | 102 | |
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] | 139 | 97 | |
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] | 21 | 28 | |
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] | $ 12 | $ 3 | |
[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, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, net asset value | [1] | $ 133 | $ 109 |
Fair value of plan assets | 425 | 386 | |
U.S. Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, net asset value | [1] | 81 | 64 |
Fair value of plan assets | 81 | 64 | |
Non-U.S. Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, net asset value | [1] | 49 | 41 |
Fair value of plan assets | 49 | 41 | |
Corporate Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 92 | 88 | |
Government Debt Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 200 | 189 | |
Cash [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, net asset value | [1] | 3 | 4 |
Fair value of plan assets | 3 | 4 | |
Fair Value Inputs Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets, fair value hierarchy | 292 | 277 | |
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] | 92 | 88 |
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] | $ 200 | $ 189 |
[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, 2019 | Dec. 31, 2018 |
Funded Pension Plans [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | $ 18,292 | $ 15,738 |
Accumulated benefit obligation | 14,940 | 13,208 |
Fair value of plan assets | 13,636 | 11,134 |
Funded Pension Plans [Member] | Pension Benefits - Non-U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | 3,616 | 4,037 |
Accumulated benefit obligation | 3,026 | 3,671 |
Fair value of plan assets | 1,381 | 3,499 |
Unfunded Pension Plans [Member] | U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | 2,667 | 2,436 |
Accumulated benefit obligation | 1,447 | 1,475 |
Unfunded Pension Plans [Member] | Pension Benefits - Non-U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | 5,274 | 6,331 |
Accumulated benefit obligation | $ 4,629 | $ 5,670 |
Pension And Other Postretire_13
Pension And Other Postretirement Benefits (Estimated Amortization) (Details) $ in Millions | Dec. 31, 2019USD ($) | |
U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss/(gain) | $ 527 | [1] |
Prior service cost | 5 | [2] |
Pension Benefits - Non-U.S. [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss/(gain) | 422 | [1] |
Prior service cost | 70 | [2] |
Other Postretirement Benefits [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss/(gain) | 89 | [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, 2019USD ($) |
U.S. [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Contributions expected in 2020 | $ 1,030 |
Benefits payments expected in 2020 | 1,440 |
Benefits payments expected in 2021 | 1,339 |
Benefits payments expected in 2022 | 1,330 |
Benefits payments expected in 2023 | 1,328 |
Benefits payments expected in 2024 | 1,327 |
Benefits payments expected in 2025-2029 | 6,512 |
Pension Benefits - Non-U.S. [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Contributions expected in 2020 | 515 |
Benefits payments expected in 2020 | 1,171 |
Benefits payments expected in 2021 | 1,162 |
Benefits payments expected in 2022 | 1,177 |
Benefits payments expected in 2023 | 1,199 |
Benefits payments expected in 2024 | 1,221 |
Benefits payments expected in 2025-2029 | 6,125 |
Gross Other Post Retirement Benefits [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Benefits payments expected in 2020 | 444 |
Benefits payments expected in 2021 | 445 |
Benefits payments expected in 2022 | 443 |
Benefits payments expected in 2023 | 440 |
Benefits payments expected in 2024 | 438 |
Benefits payments expected in 2025-2029 | 2,196 |
Other Postretirement Benefits Medicare Subsidy Receipt [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Benefits payments expected in 2020 | 20 |
Benefits payments expected in 2021 | 21 |
Benefits payments expected in 2022 | 22 |
Benefits payments expected in 2023 | 23 |
Benefits payments expected in 2024 | 24 |
Benefit payments expected in 2025-2029 | $ 132 |
Disclosures About Segments An_3
Disclosures About Segments And Related Information (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosures About Segments And Related Information [Abstract] | |||
Non-debt-related interest expense | $ 105 | $ 84 | $ 136 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | |||
Earnings after income tax | $ 14,340 | $ 20,840 | $ 19,710 |
Earnings of equity companies included above | 5,441 | 7,355 | 5,380 |
Sales and other operating revenue | 255,583 | 279,332 | 237,162 |
Depreciation and depletion expense | 18,998 | 18,745 | 19,893 |
Interest revenue | 84 | 64 | 36 |
Interest expense | 830 | 766 | 601 |
Income taxes expense (benefit) | 5,282 | 9,532 | (1,174) |
Additions to property, plant and equipment | 24,904 | 20,051 | 24,901 |
Investments in equity companies | 29,291 | 26,382 | 24,354 |
Total assets | 362,597 | 346,196 | 348,691 |
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] | |||
Sales and other operating revenue | 89,612 | 96,930 | 82,079 |
Income taxes expense (benefit) | (469) | 1,145 | (8,561) |
Non-U.S. [Member] | |||
Segment Reporting Information [Line Items] | |||
Sales and other operating revenue | 165,971 | 182,402 | 155,083 |
Income taxes expense (benefit) | 5,751 | 8,387 | 7,387 |
Upstream [Member] | U.S. [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings after income tax | 536 | 1,739 | 6,622 |
Earnings of equity companies included above | 282 | 608 | 216 |
Sales and other operating revenue | 9,364 | 10,359 | 9,349 |
Intersegment revenue | 10,893 | 8,683 | 5,729 |
Depreciation and depletion expense | 6,162 | 6,024 | 6,963 |
Interest expense | 54 | 77 | 87 |
Income taxes expense (benefit) | (151) | 104 | (8,552) |
Additions to property, plant and equipment | 10,404 | 7,119 | 9,761 |
Investments in equity companies | 5,313 | 4,566 | 4,680 |
Total assets | 95,750 | 90,310 | 89,048 |
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 | 13,906 | 12,340 | 6,733 |
Earnings of equity companies included above | 4,534 | 5,816 | 3,618 |
Sales and other operating revenue | 13,779 | 15,158 | 14,508 |
Intersegment revenue | 30,864 | 29,659 | 22,935 |
Depreciation and depletion expense | 9,305 | 9,257 | 9,741 |
Interest expense | 34 | 31 | 29 |
Income taxes expense (benefit) | 5,509 | 8,149 | 5,463 |
Additions to property, plant and equipment | 7,347 | 7,974 | 8,617 |
Investments in equity companies | 17,736 | 16,337 | 14,494 |
Total assets | 151,181 | 148,914 | 155,822 |
Upstream [Member] | Non-U.S. [Member] | Effect of U.S. tax reform - noncash | |||
Segment Reporting Information [Line Items] | |||
Effect of U.S. tax reform | 480 | ||
Downstream [Member] | U.S. [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings after income tax | 1,717 | 2,962 | 1,948 |
Earnings of equity companies included above | 196 | 156 | 118 |
Sales and other operating revenue | 70,523 | 74,327 | 61,695 |
Intersegment revenue | 22,416 | 21,954 | 14,857 |
Depreciation and depletion expense | 674 | 684 | 658 |
Interest expense | 1 | 2 | 1 |
Income taxes expense (benefit) | 465 | 946 | (61) |
Additions to property, plant and equipment | 2,685 | 1,152 | 769 |
Investments in equity companies | 319 | 293 | 276 |
Total assets | 23,442 | 17,898 | 18,172 |
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 | 606 | 3,048 | 3,649 |
Earnings of equity companies included above | 19 | (6) | 490 |
Sales and other operating revenue | 134,460 | 147,007 | 122,881 |
Intersegment revenue | 24,775 | 29,888 | 22,263 |
Depreciation and depletion expense | 832 | 890 | 883 |
Interest expense | 9 | 12 | 6 |
Income taxes expense (benefit) | 361 | 1,008 | 934 |
Additions to property, plant and equipment | 1,777 | 1,595 | 1,551 |
Investments in equity companies | 1,062 | 1,162 | 1,462 |
Total assets | 37,133 | 34,024 | 34,294 |
Chemical [Member] | U.S. [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings after income tax | 206 | 1,642 | 2,190 |
Earnings of equity companies included above | (4) | 48 | 90 |
Sales and other operating revenue | 9,723 | 12,239 | 11,035 |
Intersegment revenue | 7,864 | 9,044 | 7,270 |
Depreciation and depletion expense | 555 | 405 | 299 |
Income taxes expense (benefit) | 58 | 566 | 362 |
Additions to property, plant and equipment | 1,344 | 1,146 | 1,330 |
Investments in equity companies | 1,835 | 870 | 341 |
Total assets | 16,544 | 14,904 | 13,363 |
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 | 386 | 1,709 | 2,328 |
Earnings of equity companies included above | 818 | 1,113 | 1,217 |
Sales and other operating revenue | 17,693 | 20,204 | 17,659 |
Intersegment revenue | 5,905 | 7,217 | 5,550 |
Depreciation and depletion expense | 621 | 606 | 504 |
Interest expense | 1 | 1 | |
Income taxes expense (benefit) | 305 | 245 | 664 |
Additions to property, plant and equipment | 589 | 348 | 2,019 |
Investments in equity companies | 3,335 | 3,431 | 3,387 |
Total assets | 20,376 | 21,131 | 21,133 |
Corporate And Financing [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings after income tax | (3,017) | (2,600) | (3,760) |
Earnings of equity companies included above | (404) | (380) | (369) |
Sales and other operating revenue | 41 | 38 | 35 |
Intersegment revenue | 224 | 205 | 208 |
Depreciation and depletion expense | 849 | 879 | 845 |
Interest revenue | 84 | 64 | 36 |
Interest expense | 731 | 643 | 478 |
Income taxes expense (benefit) | (1,265) | (1,486) | 16 |
Additions to property, plant and equipment | 758 | 717 | 854 |
Investments in equity companies | (309) | (277) | (286) |
Total assets | $ 18,171 | $ 19,015 | 16,859 |
Corporate And Financing [Member] | Effect of U.S. tax reform - noncash | |||
Segment Reporting Information [Line Items] | |||
Effect of U.S. tax reform | $ 2,133 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | $ 255,583 | $ 279,332 | $ 237,162 | |
U.S. [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 89,612 | 96,930 | 82,079 | |
Non-U.S. [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 165,971 | 182,402 | 155,083 | |
Canada [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | 19,735 | 22,672 | 20,116 |
United Kingdom [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | 17,479 | 18,702 | 16,611 |
France [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | 12,740 | 13,637 | 11,235 |
Singapore [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | 12,128 | 13,689 | 11,589 |
Belgium [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | 11,644 | 15,664 | 13,633 |
Italy [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | [1] | $ 10,459 | $ 13,396 | $ 11,476 |
[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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | $ 253,018 | $ 247,101 | $ 252,630 |
U.S. [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 114,372 | 108,147 | 105,101 |
Non-U.S. [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 138,646 | 138,954 | 147,529 |
Canada [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 39,130 | 37,433 | 41,138 |
Australia [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 13,933 | 14,548 | 16,908 |
Singapore [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 11,645 | 11,148 | 11,292 |
Kazakhstan [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 9,315 | 9,726 | 10,121 |
Papua New Guinea [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 8,057 | 8,269 | 8,463 |
Nigeria [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 7,640 | 8,421 | 9,734 |
Angola [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 5,784 | 7,021 | 7,689 |
United Arab Emirates [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | 5,262 | 4,859 | 4,304 |
Russia [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Long-lived assets | $ 5,135 | $ 5,456 | $ 5,702 |
Income And Other Taxes (Narrati
Income And Other Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income And Other Taxes [Abstract] | |||
Reconciliation between income tax expense and theoretical U.S. tax rate, statutory rate | 21.00% | 21.00% | 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 | $ 0 | $ 3 | $ 36 |
Interest payable on income tax reserves | 71 | 169 | |
Valuation Allowance [Abstract] | |||
Valuation allowance change from 2018 to 2019 | 98 | ||
Asset valuation allowances | 1,924 | 1,826 | |
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) | |
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 | (740) | $ (289) | $ (5,920) |
Change in net provisions [Member] | |||
Valuation Allowance [Abstract] | |||
Valuation allowance change from 2018 to 2019 | 113 | ||
Effects of foreign currency translation [Member] | |||
Valuation Allowance [Abstract] | |||
Valuation allowance change from 2018 to 2019 | $ (15) |
Income And Other Taxes (Schedul
Income And Other Taxes (Schedule Of Income And Other Taxes) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income and Other Taxes [Line Items] | |||
Current | $ 6,050 | $ 9,460 | $ 7,210 |
Deferred - net | (675) | (96) | (8,321) |
U.S. tax on non-U.S. operations | 89 | 42 | 17 |
Total federal and non-U.S. | 5,464 | 9,406 | (1,094) |
State | (182) | 126 | (80) |
Total income tax expense | 5,282 | 9,532 | (1,174) |
Other taxes and duties | 30,525 | 32,663 | 30,104 |
Other taxes and duties included in production and manufacturing expenses | 2,196 | 2,102 | 1,854 |
Other taxes and duties included in SG&A expenses | 465 | 465 | 501 |
Total other taxes and duties | 33,186 | 35,230 | 32,459 |
Total | 38,468 | 44,762 | 31,285 |
U.S. [Member] | |||
Income and Other Taxes [Line Items] | |||
Current | (121) | 459 | 577 |
Deferred - net | (255) | 518 | (9,075) |
U.S. tax on non-U.S. operations | 89 | 42 | 17 |
Total federal and non-U.S. | (287) | 1,019 | (8,481) |
State | (182) | 126 | (80) |
Total income tax expense | (469) | 1,145 | (8,561) |
Other taxes and duties | 3,566 | 3,498 | 3,330 |
Other taxes and duties included in production and manufacturing expenses | 1,385 | 1,245 | 1,107 |
Other taxes and duties included in SG&A expenses | 160 | 153 | 147 |
Total other taxes and duties | 5,111 | 4,896 | 4,584 |
Total | 4,642 | 6,041 | (3,977) |
Non-U.S. [Member] | |||
Income and Other Taxes [Line Items] | |||
Current | 6,171 | 9,001 | 6,633 |
Deferred - net | (420) | (614) | 754 |
Total federal and non-U.S. | 5,751 | 8,387 | 7,387 |
Total income tax expense | 5,751 | 8,387 | 7,387 |
Other taxes and duties | 26,959 | 29,165 | 26,774 |
Other taxes and duties included in production and manufacturing expenses | 811 | 857 | 747 |
Other taxes and duties included in SG&A expenses | 305 | 312 | 354 |
Total other taxes and duties | 28,075 | 30,334 | 27,875 |
Total | $ 33,826 | $ 38,721 | $ 35,262 |
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, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |||
Income And Other Taxes [Abstract] | |||||
United States income before income taxes | $ (53) | $ 5,200 | $ (754) | ||
Non-U.S. income before income taxes | 20,109 | 25,753 | 19,428 | ||
Income before income taxes | 20,056 | 30,953 | 18,674 | ||
Theoretical tax | 4,212 | 6,500 | 6,536 | ||
Effect of equity method of accounting | (1,143) | (1,545) | (1,883) | ||
Non-U.S. taxes in excess of/(less than) theoretical U.S. tax | 2,573 | [1] | 4,626 | 1,848 | |
Other | (360) | 242 | (1,733) | [2] | |
Total income tax expense | 5,282 | 9,532 | (1,174) | ||
ExxonMobil share of equity company income taxes | 2,490 | 3,142 | 2,228 | ||
Total income taxes | 7,772 | 12,674 | 1,054 | ||
Net income including noncontrolling interests | 14,774 | 21,421 | 19,848 | ||
Total income before taxes | $ 22,546 | $ 34,095 | $ 20,902 | ||
Effective income tax rate | 34.00% | 37.00% | 5.00% | ||
Exploration tax charge/(benefit) | $ (708) | ||||
Effect of U.S. tax reform | |||||
Effective Tax Rate [Line Items] | |||||
Effect of U.S. tax reform | $ (291) | (5,942) | |||
U.S. [Member] | |||||
Income And Other Taxes [Abstract] | |||||
Total income tax expense | $ (469) | 1,145 | (8,561) | ||
Non-U.S. [Member] | |||||
Income And Other Taxes [Abstract] | |||||
Total income tax expense | 5,751 | $ 8,387 | $ 7,387 | ||
Non-U.S. [Member] | Benefit [Member] | |||||
Effective Tax Rate [Line Items] | |||||
Adjustment to prior year tax position charge/(benefit) | (268) | ||||
Norway operations and the sale of upstream assets | (773) | ||||
Tax rate change in Alberta, Canada | $ (657) | ||||
[1] | 2019 includes taxes less than the theoretical U.S. tax of $ 773 million from Norway operations and the sale of upstream assets, $ 657 million from a tax rate change in Alberta, Canada, and $ 268 million from an adjustment to a prior year tax position. | ||||
[2] | 2017 includes taxes less than the theoretical U.S. tax of $ 708 million from an exploration tax benefit. |
Income And Other Taxes (Deferre
Income And Other Taxes (Deferred Income Taxes Assets And Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Income And Other Taxes [Abstract] | ||
Property, plant and equipment | $ 36,029 | $ 35,745 |
Other liabilities | 7,653 | 6,516 |
Total deferred tax liabilities | 43,682 | 42,261 |
Pension and other postretirement benefits | (4,712) | (4,115) |
Asset retirement obligations | (3,403) | (4,118) |
Tax loss carryforwards | (7,404) | (6,321) |
Other assets | (7,735) | (5,498) |
Total deferred tax assets | (23,254) | (20,052) |
Asset valuation allowances | 1,924 | 1,826 |
Net deferred tax liabilities | $ 22,352 | $ 24,035 |
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, 2019 | Dec. 31, 2018 |
Income And Other Taxes [Abstract] | ||
Other assets, including intangibles, net | $ (3,268) | $ (3,209) |
Deferred income tax liabilities | 25,620 | 27,244 |
Net deferred tax liabilities | $ 22,352 | $ 24,035 |
Income And Other Taxes (Unrecog
Income And Other Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income And Other Taxes [Abstract] | |||
Balance at January 1 | $ 9,174 | $ 8,783 | $ 9,468 |
Additions based on current year's tax positions | 287 | 375 | 522 |
Additions for prior years' tax positions | 120 | 240 | 523 |
Reductions for prior years' tax positions | (97) | (125) | (865) |
Reductions due to lapse of the statute of limitations | (279) | (5) | (113) |
Settlements with tax authorities | (538) | (68) | (782) |
Foreign exchange effects/other | 177 | (26) | 30 |
Balance at December 31 | $ 8,844 | $ 9,174 | $ 8,783 |
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, 2019 | |
Abu Dhabi [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2018 |
Abu Dhabi [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Angola [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2018 |
Angola [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Australia [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2010 |
Australia [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Belgium [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2017 |
Belgium [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Canada [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2000 |
Canada [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Equatorial Guinea [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2007 |
Equatorial Guinea [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Indonesia [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2007 |
Indonesia [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Iraq [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2014 |
Iraq [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Malaysia [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2011 |
Malaysia [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Nigeria [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2006 |
Nigeria [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Norway [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2007 |
Norway [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Papua New Guinea [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2008 |
Papua New Guinea [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Russia [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2017 |
Russia [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
United Kingdom [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2015 |
United Kingdom [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
United States [Member] | Earliest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2006 |
United States [Member] | Latest Tax Year [Member] | |
Income and Other Taxes [Line Items] | |
Open tax years by major tax jurisdiction | 2019 |
Sale of Norway Assets (Narrativ
Sale of Norway Assets (Narrative) (Details) $ in Billions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Sale of Norway Assets [Abstract] | |
Disposal Group, Including Discontinued Operation, Segment that Includes Disposal Group | upstream |
Disposal Group, Not Discontinued Operation, Name | non-operated upstream assets in Norway |
Agreed sales price of non-operated upstream assets | $ 4.5 |
Disposal Group, Including Discontinued Operation, Description and Timing of Disposal | December 10, 2019 |
2019 cash proceeds from divestment | $ 3.1 |
Estimated refund of income tax payments, due to sale | 0.6 |
Estimated cash proceeds in future periods associated with deferred consideration | 0.3 |
Disposal Group Disposed Of By Sale Not Discontinued Operations [Member] | Nonoperated Upstream Assets In Norway [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
After tax gain on sale of non-operated upstream assets | 3.7 |
Disposal Group Disposed Of By Sale Not Discontinued Operations [Member] | Other Income Related To Norway Sale [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Before tax gain on sale of non-operated upstream assets | 2.7 |
Disposal Group Disposed Of By Sale Not Discontinued Operations [Member] | Income Taxes Related To Norway Sale [Member] | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |
Tax related to sale of non-operated upstream assets | $ 1 |