Document And Entity Information
Document And Entity Information | 3 Months Ended |
Mar. 31, 2022shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Mar. 31, 2022 |
Document Transition Report | false |
Entity File Number | 1-2256 |
Entity Registrant Name | Exxon Mobil Corporation |
Entity Incorporation, State or Country Code | NJ |
Entity Tax Identification Number | 13-5409005 |
Entity Address, Address Line One | 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 |
Document Information [Line Items] | |
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 Common Stock, Shares Outstanding | 4,212,543,236 |
Amendment Flag | false |
Entity Central Index Key | 0000034088 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q1 |
Current Fiscal Year End Date | --12-31 |
Common Stock, without par value [Member] | |
Document Information [Line Items] | |
Security 12(b) Title | Common Stock, without par value |
Trading Symbol | XOM |
Security Exchange Name | NYSE |
0.142% Notes Due 2024 [Member] | |
Document Information [Line Items] | |
Security 12(b) Title | 0.142% Notes due 2024 |
Trading Symbol | XOM24B |
Security Exchange Name | NYSE |
0.524% Notes Due 2028 [Member] | |
Document Information [Line Items] | |
Security 12(b) Title | 0.524% Notes due 2028 |
Trading Symbol | XOM28 |
Security Exchange Name | NYSE |
0.835% Notes Due 2032 [Member] | |
Document Information [Line Items] | |
Security 12(b) Title | 0.835% Notes due 2032 |
Trading Symbol | XOM32 |
Security Exchange Name | NYSE |
1.408% Notes Due 2039 [Member] | |
Document Information [Line Items] | |
Security 12(b) Title | 1.408% Notes due 2039 |
Trading Symbol | XOM39A |
Security Exchange Name | NYSE |
Condensed Consolidated Statemen
Condensed Consolidated Statement Of Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Revenues and other income | ||
Sales and other operating revenue | $ 87,734 | $ 57,552 |
Income from equity affiliates | 2,538 | 1,473 |
Other income | 228 | 122 |
Total revenues and other income | 90,500 | 59,147 |
Costs and other deductions | ||
Crude oil and product purchases | 52,388 | 32,601 |
Production and manufacturing expenses | 10,241 | 8,062 |
Selling, general and administrative expenses | 2,409 | 2,428 |
Depreciation and depletion (including impairments) | 8,883 | 5,004 |
Exploration expenses, including dry holes | 173 | 164 |
Non-service pension and postretirement benefit expense | 108 | 378 |
Interest expense | 188 | 258 |
Other taxes and duties | 7,554 | 6,660 |
Total costs and other deductions | 81,944 | 55,555 |
Income (loss) before income taxes | 8,556 | 3,592 |
Income taxes | 2,806 | 796 |
Net income (loss) including noncontrolling interests | 5,750 | 2,796 |
Net income (loss) attributable to noncontrolling interests | 270 | 66 |
Net income (loss) attributable to ExxonMobil | $ 5,480 | $ 2,730 |
Earnings (loss) per common share (dollars) | $ 1.28 | $ 0.64 |
Earnings (loss) per common share - assuming dilution (dollars) | $ 1.28 | $ 0.64 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Statement of Comprehensive Income [Abstract] | ||
Net income (loss) including noncontrolling interests | $ 5,750 | $ 2,796 |
Other comprehensive income (loss) (net of income taxes) | ||
Foreign exchange translation adjustment | 741 | 149 |
Postretirement benefits reserves adjustment (excluding amortization) | 105 | 168 |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | 93 | 378 |
Total other comprehensive income (loss) | 939 | 695 |
Comprehensive income (loss) including noncontrolling interests | 6,689 | 3,491 |
Comprehensive income (loss) attributable to noncontrolling interests | 359 | 146 |
Comprehensive income (loss) attributable to ExxonMobil | $ 6,330 | $ 3,345 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheet - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Current assets | ||
Cash and cash equivalents | $ 11,074 | $ 6,802 |
Notes and accounts receivable – net | 42,142 | 32,383 |
Inventories | ||
Crude oil, products and merchandise | 18,074 | 14,519 |
Materials and supplies | 4,103 | 4,261 |
Other current assets | 1,862 | 1,189 |
Total current assets | 77,255 | 59,154 |
Investments, advances and long-term receivables | 46,329 | 45,195 |
Property, plant and equipment – net | 212,773 | 216,552 |
Other assets, including intangibles – net | 18,414 | 18,022 |
Total Assets | 354,771 | 338,923 |
Current liabilities | ||
Notes and loans payable | 4,886 | 4,276 |
Accounts payable and accrued liabilities | 63,501 | 50,766 |
Income taxes payable | 3,672 | 1,601 |
Total current liabilities | 72,059 | 56,643 |
Long-term debt | 42,651 | 43,428 |
Postretirement benefits reserves | 18,255 | 18,430 |
Deferred income tax liabilities | 19,533 | 20,165 |
Long-term obligations to equity companies | 2,875 | 2,857 |
Other long-term obligations | 22,872 | 21,717 |
Total Liabilities | 178,245 | 163,240 |
Commitments and contingencies (Note 3) | ||
Equity | ||
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 15,879 | 15,746 |
Earnings reinvested | 393,779 | 392,059 |
Accumulated other comprehensive income | (12,914) | (13,764) |
Common stock held in treasury (3,806 million shares at Mar. 31, 2022 and 3,780 million shares at Dec. 31, 2021) | (227,529) | (225,464) |
ExxonMobil share of equity | 169,215 | 168,577 |
Noncontrolling interests | 7,311 | 7,106 |
Total Equity | 176,526 | 175,683 |
Total Liabilities and Equity | $ 354,771 | $ 338,923 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Statement of Financial Position [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 | 3,806 | 3,780 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement Of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from operating activities | ||
Net income (loss) including noncontrolling interests | $ 5,750 | $ 2,796 |
Depreciation and depletion (including impairments) | 8,883 | 5,004 |
Changes in operational working capital, excluding cash and debt | 1,086 | 1,953 |
All other items – net | (931) | (489) |
Net cash provided by operating activities | 14,788 | 9,264 |
Cash flows from investing activities | ||
Additions to property, plant and equipment | (3,911) | (2,400) |
Proceeds from asset sales and returns of investments | 293 | 307 |
Additional investments and advances | (417) | (349) |
Other investing activities including collection of advances | 90 | 87 |
Net cash used in investing activities | (3,945) | (2,355) |
Cash flows from financing activities | ||
Additions to short-term debt | 0 | 5,781 |
Reductions in short-term debt | (2,098) | (10,849) |
Additions/(reductions) in debt with three months or less maturity | 1,366 | 1,003 |
Cash dividends to ExxonMobil shareholders | (3,760) | (3,720) |
Cash dividends to noncontrolling interests | (60) | (52) |
Changes in noncontrolling interests | (94) | 53 |
Common stock acquired | (2,067) | (1) |
Net cash used in financing activities | (6,713) | (7,785) |
Effects of exchange rate changes on cash | 142 | 27 |
Increase/(decrease) in cash and cash equivalents | 4,272 | (849) |
Cash and cash equivalents at beginning of period | 6,802 | 4,364 |
Cash and cash equivalents at end of period | 11,074 | 3,515 |
Supplemental Disclosures | ||
Income taxes paid | 1,798 | 855 |
Cash interest paid | ||
Cash interest paid - Included in cash flows from operating activities | 319 | 405 |
Cash interest paid - Capitalized, included in cash flows from investing activities | 187 | 151 |
Total cash interest paid | 506 | 556 |
Noncash right of use assets recorded in exchange for lease liabilities | ||
Noncash right of use assets recorded in exchange for lease liabilities - Operating leases | 240 | 265 |
Noncash right of use assets recorded in exchange for lease liabilities - Finance leases | $ 656 | $ 0 |
Condensed Consolidated Statem_4
Condensed 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, 2020 | $ 164,130 | $ 15,688 | $ 383,943 | $ (16,705) | $ (225,776) | $ 157,150 | $ 6,980 |
Balance (in shares) - issued at Dec. 31, 2020 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2020 | (3,786) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2020 | 4,233 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Amortization of stock-based awards | $ 202 | 202 | 202 | ||||
Other | 47 | (6) | (6) | 53 | |||
Net income (loss) for the period | 2,796 | 2,730 | 2,730 | 66 | |||
Dividends - common shares (company) | (3,720) | (3,720) | |||||
Dividends - common shares (NCI) | (52) | ||||||
Dividends - common shares (total) | (3,772) | ||||||
Other comprehensive income (loss) | 695 | 615 | 615 | 80 | |||
Acquisitions, at cost (company) | (1) | (1) | |||||
Acquisitions, at cost (NCI) | 0 | ||||||
Acquisitions, at cost (total) | (1) | ||||||
Dispositions | $ 4 | $ 4 | 4 | ||||
Disposition (in shares) | 1 | 1 | |||||
Balance at Mar. 31, 2021 | $ 164,101 | 15,884 | 382,953 | (16,090) | $ (225,773) | 156,974 | 7,127 |
Balance (in shares) - issued at Mar. 31, 2021 | 8,019 | ||||||
Balance (in shares) - in treasury at Mar. 31, 2021 | (3,785) | ||||||
Balance (in shares) - outstanding at Mar. 31, 2021 | 4,234 | ||||||
Balance at Dec. 31, 2021 | $ 175,683 | 15,746 | 392,059 | (13,764) | (225,464) | 168,577 | 7,106 |
Balance (in shares) - issued at Dec. 31, 2021 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2021 | (3,780) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2021 | 4,239 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Amortization of stock-based awards | $ 138 | 138 | 138 | ||||
Other | 9 | (5) | (5) | 14 | |||
Net income (loss) for the period | 5,750 | 5,480 | 5,480 | 270 | |||
Dividends - common shares (company) | (3,760) | (3,760) | |||||
Dividends - common shares (NCI) | (60) | ||||||
Dividends - common shares (total) | (3,820) | ||||||
Other comprehensive income (loss) | 939 | 850 | 850 | 89 | |||
Acquisitions, at cost (company) | $ (2,067) | (2,067) | |||||
Acquisitions, at cost (NCI) | (108) | ||||||
Acquisitions, at cost (total) | $ (2,175) | ||||||
Acquisitions (in shares) | (26) | (26) | |||||
Dispositions | $ 2 | $ 2 | 2 | ||||
Balance at Mar. 31, 2022 | $ 176,526 | $ 15,879 | $ 393,779 | $ (12,914) | $ (227,529) | $ 169,215 | $ 7,311 |
Balance (in shares) - issued at Mar. 31, 2022 | 8,019 | ||||||
Balance (in shares) - in treasury at Mar. 31, 2022 | (3,806) | ||||||
Balance (in shares) - outstanding at Mar. 31, 2022 | 4,213 |
Basis Of Financial Statement Pr
Basis Of Financial Statement Preparation | 3 Months Ended |
Mar. 31, 2022 | |
Basis Of Financial Statement Preparation [Abstract] | |
Basis Of Financial Statement Preparation | Basis of Financial Statement Preparation These unaudited condensed consolidated financial statements should be read in the context of the consolidated financial statements and notes thereto filed with the Securities and Exchange Commission in the Corporation's 2021 Annual Report on Form 10-K. In the opinion of the Corporation, the information furnished herein reflects all known accruals and adjustments necessary for a fair statement of the results for the periods reported herein. All such adjustments are of a normal recurring nature. Prior data has been reclassified in certain cases to conform to the current presentation basis. The Corporation's exploration and production activities are accounted for under the "successful efforts" method. |
Russia
Russia | 3 Months Ended |
Mar. 31, 2022 | |
Disclosure Text Block Supplement [Abstract] | |
Asset Impairment Charges | Russia In early March, in response to Russia’s military action in Ukraine, the Corporation announced that it plans to discontinue operations on the Sakhalin-1 project (“Sakhalin”) and develop steps to exit the venture. In light of this, and given the considerable uncertainties surrounding the ongoing operation and future cash-flow generating capability of Sakhalin, an impairment assessment was required, and management determined that the carrying value of the asset group was not recoverable. As a result, the Corporation’s first quarter earnings include after-tax charges of $3.4 billion largely representing the impairment of its operations related to Sakhalin. On a before-tax basis, the charges amounted to $4.6 billion, substantially all of which is reflected in the line captioned “Depreciation and depletion (including impairments)” on the Condensed Consolidated Statement of Income. The Corporation's exit from the project would result in quantities estimated at 150 million oil-equivalent barrels no longer qualifying as proved reserves, which represented less than one percent of the Corporation's 18.5 billion oil-equivalent barrels of proved reserves at year-end 2021. The assessment of fair value required the use of Level 3 inputs and assumptions that are based on the views of a likely market participant. As of March 31, the pool of market participants for Russia-based upstream assets was assessed as extremely limited. In arriving at a fair value for its interest in Sakhalin, the Corporation considered, among other things, the current state of sanctions, the regulatory environment within Russia, the statements and actions of potential market participants, and the range and risks of future cash flows that a market participant might consider. Given these significant uncertainties, the likelihood of a third-party market participant agreeing to engage in a transaction for the Corporation’s interest in Sakhalin, as of March 31, was judged to be remote. |
Litigation And Other Contingenc
Litigation And Other Contingencies | 3 Months Ended |
Mar. 31, 2022 | |
Loss Contingency [Abstract] | |
Litigation And Other Contingencies | 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 March 31, 2022, for guarantees relating to notes, loans and performance under contracts. Where guarantees for environmental remediation and other similar matters do not include a stated cap, the amounts reflect management’s estimate of the maximum potential exposure. These guarantees are not reasonably likely to have a material effect on the Corporation’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. March 31, 2022 Equity Company Obligations (1) Other Third-Party Obligations Total (millions of dollars) Guarantees Debt-related 1,152 145 1,297 Other 830 6,379 7,209 Total 1,982 6,524 8,506 (1) ExxonMobil share Additionally, the Corporation and its affiliates have numerous long-term sales and purchase commitments in their various business activities, all of which are expected to be fulfilled with no adverse consequences material to the Corporation’s operations or financial condition. The operations and earnings of the Corporation and its affiliates throughout the world have been, and may in the future be, affected from time to time in varying degree by political developments and laws and regulations, such as forced divestiture of assets; restrictions on production, imports and exports; price controls; tax increases and retroactive tax claims; expropriation of property; cancellation of contract rights and environmental regulations. Both the likelihood of such occurrences and their overall effect upon the Corporation vary greatly from country to country and are not predictable. |
Other Comprehensive Income Info
Other Comprehensive Income Information | 3 Months Ended |
Mar. 31, 2022 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | |
Other Comprehensive Income Information | Other Comprehensive Income Information ExxonMobil Share of Accumulated Other Comprehensive Income Cumulative Foreign Exchange Translation Adjustment Postretirement Benefits Total (millions of dollars) Balance as of December 31, 2020 (10,614) (6,091) (16,705) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) 88 158 246 Amounts reclassified from accumulated other comprehensive income — 369 369 Total change in accumulated other comprehensive income 88 527 615 Balance as of March 31, 2021 (10,526) (5,564) (16,090) Balance as of December 31, 2021 (11,499) (2,265) (13,764) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) 661 102 763 Amounts reclassified from accumulated other comprehensive income — 87 87 Total change in accumulated other comprehensive income 661 189 850 Balance as of March 31, 2022 (10,838) (2,076) (12,914) (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) net of taxes of $79 million and $191 million in 2022 and 2021, respectively. Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) Three Months Ended 2022 2021 (millions of dollars) 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) (120) (484) Income Tax (Expense)/Credit For Components of Other Comprehensive Income Three Months Ended 2022 2021 (millions of dollars) Foreign exchange translation adjustment (22) (53) Postretirement benefits reserves adjustment (excluding amortization) (40) (58) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (27) (106) Total (89) (217) |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Three Months Ended 2022 2021 Earnings per common share Net income (loss) attributable to ExxonMobil (millions of dollars) 5,480 2,730 Weighted average number of common shares outstanding (millions of shares) 4,266 4,272 Earnings (loss) per common share (dollars) (1) 1.28 0.64 Dividends paid per common share (dollars) 0.88 0.87 (1) The calculation of earnings (loss) per common share and earnings (loss) per common share – assuming dilution are the same in each period shown. |
Pension And Other Postretiremen
Pension And Other Postretirement Benefits | 3 Months Ended |
Mar. 31, 2022 | |
Retirement Benefits [Abstract] | |
Pension And Other Postretirement Benefits | Pension and Other Postretirement Benefits Three Months Ended 2022 2021 (millions of dollars) Components of net benefit cost Pension Benefits - U.S. Service cost 179 225 Interest cost 129 139 Expected return on plan assets (140) (180) Amortization of actuarial loss/(gain) 39 61 Amortization of prior service cost (7) (6) Net pension enhancement and curtailment/settlement cost 37 298 Net benefit cost 237 537 Pension Benefits - Non-U.S. Service cost 150 195 Interest cost 160 130 Expected return on plan assets (213) (258) Amortization of actuarial loss/(gain) 47 108 Amortization of prior service cost 12 15 Net pension enhancement and curtailment/settlement cost — 12 Net benefit cost 156 202 Other Postretirement Benefits Service cost 40 49 Interest cost 55 56 Expected return on plan assets (3) (5) Amortization of actuarial loss/(gain) 3 19 Amortization of prior service cost (11) (11) Net benefit cost 84 108 |
Financial Instruments and Deriv
Financial Instruments and Derivatives | 3 Months Ended |
Mar. 31, 2022 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments and Derivatives | Financial Instruments and Derivatives Financial Instruments. The estimated fair value of financial instruments at March 31, 2022 and December 31, 2021, and the related hierarchy level for the fair value measurement was as follows: March 31, 2022 (millions of dollars) Fair Value Level 1 Level 2 Level 3 Total Gross Assets Effect of Effect of Difference Net Assets Derivative assets (1) 6,886 2,890 — 9,776 (7,888) (60) — 1,828 Advances to/receivables from equity companies (2)(6) — 2,631 5,491 8,122 — — 435 8,557 Other long-term financial assets (3) 1,152 — 1,049 2,201 — — 165 2,366 Liabilities Derivative liabilities (4) 7,459 3,940 — 11,399 (7,888) (632) — 2,879 Long-term debt (5) 40,367 76 2 40,445 — — (140) 40,305 Long-term obligations to equity companies (6) — — 2,969 2,969 — — (94) 2,875 Other long-term financial liabilities (7) — — 886 886 — — 53 939 December 31, 2021 (millions of dollars) Fair Value Level 1 Level 2 Level 3 Total Gross Assets Effect of Effect of Difference Net Assets Derivative assets (1) 1,422 1,523 — 2,945 (1,930) (28) — 987 Advances to/receivables from equity companies (2)(6) — 3,076 5,373 8,449 — — (123) 8,326 Other long-term financial assets (3) 1,134 — 1,058 2,192 — — 181 2,373 Liabilities Derivative liabilities (4) 1,701 2,594 — 4,295 (1,930) (306) — 2,059 Long-term debt (5) 44,454 88 3 44,545 — — (2,878) 41,667 Long-term obligations to equity companies (6) — — 3,084 3,084 — — (227) 2,857 Other long-term financial liabilities (7) — — 902 902 — — 58 960 (1) Included in the Balance Sheet lines: Notes and accounts receivable - net 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) 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. (7) Included in the Balance Sheet line: Other long-term obligations. Includes contingent consideration related to a prior year acquisition where fair value is based on expected drilling activities and discount rates. At March 31, 2022 and December 31, 2021, respectively, the Corporation had $1,347 million and $641 million of collateral under master netting arrangements not offset against the derivatives on the Consolidated Balance Sheet, primarily related to initial margin requirements. The Corporation may use non-derivative financial instruments, such as its foreign currency-denominated debt, as hedges of its net investments in certain foreign subsidiaries. Under this method, the change in the carrying value of the financial instruments due to foreign exchange fluctuations is reported in accumulated other comprehensive income. As of March 31, 2022, the Corporation has designated $5.0 billion of its Euro-denominated long-term debt and related accrued interest as a net investment hedge of its European business. The net investment hedge is deemed to be perfectly effective. The Corporation had undrawn short-term committed lines of credit of $10.7 billion and undrawn long-term committed lines of credit of $0.6 billion as of first quarter 2022. 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 to generate returns from trading. 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 March 31, 2022 and December 31, 2021, or results of operations for the periods ended March 31, 2022 and 2021. 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. The net notional long/(short) position of derivative instruments at March 31, 2022 and December 31, 2021, was as follows: March 31, December 31, 2022 2021 (millions) Crude oil (barrels) 91 82 Petroleum products (barrels) (37) (48) Natural gas (MMBTUs) (101) (115) 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: Three Months Ended 2022 2021 (millions of dollars) Sales and other operating revenue (2,535) (512) Crude oil and product purchases (26) 1 Total (2,561) (511) |
Disclosures About Segments And
Disclosures About Segments And Related Information | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Disclosures About Segments And Related Information | Disclosures about Segments and Related Information Three Months Ended 2022 2021 Earnings (Loss) After Income Tax (millions of dollars) Upstream United States 2,376 363 Non-U.S. (1) 2,112 2,191 Downstream United States 685 (113) Non-U.S. (353) (277) Chemical United States 819 715 Non-U.S. 535 700 Corporate and Financing (1) (694) (849) Corporate total 5,480 2,730 (1) Results for 2022 include charges of $3.3 billion in non-U.S. Upstream and $0.1 billion in Corporate and Financing associated with the Corporation's interest in Sakhalin-1. (See Note 2 to Condensed Consolidated Financial Statements) Sales and Other Operating Revenue Upstream United States 2,656 1,885 Non-U.S. 6,343 3,094 Downstream United States 25,356 16,078 Non-U.S. 43,609 28,613 Chemical United States 3,982 3,091 Non-U.S. 5,781 4,887 Corporate and Financing 7 (96) Corporate total 87,734 57,552 Intersegment Revenue Upstream United States 6,191 3,323 Non-U.S. 10,835 6,817 Downstream United States 8,261 3,953 Non-U.S. 9,503 5,381 Chemical United States 2,863 1,950 Non-U.S. 2,213 1,231 Corporate and Financing 57 57 Geographic Three Months Ended Sales and Other Operating Revenue 2022 2021 (millions of dollars) United States 31,994 21,054 Non-U.S. 55,740 36,498 Total 87,734 57,552 Significant Non-U.S. revenue sources include: (1) United Kingdom 7,548 2,943 Canada 6,995 4,258 France 4,356 2,782 Singapore 4,322 3,435 Belgium 2,836 1,989 Italy 2,836 1,865 (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. |
Divestment Activities
Divestment Activities | 3 Months Ended |
Mar. 31, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Divestment Activities | Divestment ActivitiesIn February 2022, the Corporation signed an agreement with Seplat Energy Offshore Limited for the sale of Mobil Producing Nigeria Unlimited. The agreement is subject to certain conditions precedent and government approvals. If these are attained, the transaction would be expected to close no earlier than mid-year 2022. The agreed sales price is subject to interim period adjustments from January 1, 2021 to the closing date, and has potential for further adjustments based on commodity prices and production levels. Assuming a mid-2022 closing date and based on currently available information, the Corporation expects to recognize a loss of approximately $500 million when and if the potential divestment ultimately meets held-for-sale criteria under ASC 360, following the resolution of certain conditions precedent noted above.Following the end of the first quarter, the Corporation executed an agreement for the sale of ExxonMobil Exploration and Production Romania, consisting of certain unproved Upstream assets, to Romgaz S.A. The transaction is anticipated to close mid-year 2022, and the Corporation expects to recognize a gain on the sale of approximately $300 million. |
Summary of Accounting Policies
Summary of Accounting Policies (Policy) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Commitments and 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. |
Net Investment Hedge Risk Management Policy | The Corporation may use non-derivative financial instruments, such as its foreign currency-denominated debt, as hedges of its net investments in certain foreign subsidiaries. Under this method, the change in the carrying value of the financial instruments due to foreign exchange fluctuations is reported in accumulated other comprehensive income. |
Litigation And Other Continge_2
Litigation And Other Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Loss Contingency [Abstract] | |
Schedule Of Guarantees | March 31, 2022 Equity Company Obligations (1) Other Third-Party Obligations Total (millions of dollars) Guarantees Debt-related 1,152 145 1,297 Other 830 6,379 7,209 Total 1,982 6,524 8,506 (1) ExxonMobil share |
Other Comprehensive Income In_2
Other Comprehensive Income Information (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income Information | ExxonMobil Share of Accumulated Other Comprehensive Income Cumulative Foreign Exchange Translation Adjustment Postretirement Benefits Total (millions of dollars) Balance as of December 31, 2020 (10,614) (6,091) (16,705) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) 88 158 246 Amounts reclassified from accumulated other comprehensive income — 369 369 Total change in accumulated other comprehensive income 88 527 615 Balance as of March 31, 2021 (10,526) (5,564) (16,090) Balance as of December 31, 2021 (11,499) (2,265) (13,764) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) 661 102 763 Amounts reclassified from accumulated other comprehensive income — 87 87 Total change in accumulated other comprehensive income 661 189 850 Balance as of March 31, 2022 (10,838) (2,076) (12,914) (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) net of taxes of $79 million and $191 million in 2022 and 2021, respectively. |
Reclassification Out Of Accumulated Other Comprehensive Income | Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) Three Months Ended 2022 2021 (millions of dollars) 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) (120) (484) |
Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income | Income Tax (Expense)/Credit For Components of Other Comprehensive Income Three Months Ended 2022 2021 (millions of dollars) Foreign exchange translation adjustment (22) (53) Postretirement benefits reserves adjustment (excluding amortization) (40) (58) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (27) (106) Total (89) (217) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Computation | Three Months Ended 2022 2021 Earnings per common share Net income (loss) attributable to ExxonMobil (millions of dollars) 5,480 2,730 Weighted average number of common shares outstanding (millions of shares) 4,266 4,272 Earnings (loss) per common share (dollars) (1) 1.28 0.64 Dividends paid per common share (dollars) 0.88 0.87 (1) The calculation of earnings (loss) per common share and earnings (loss) per common share – assuming dilution are the same in each period shown. |
Pension And Other Postretirem_2
Pension And Other Postretirement Benefits (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Retirement Benefits [Abstract] | |
Pension And Other Postretirement Benefits | Three Months Ended 2022 2021 (millions of dollars) Components of net benefit cost Pension Benefits - U.S. Service cost 179 225 Interest cost 129 139 Expected return on plan assets (140) (180) Amortization of actuarial loss/(gain) 39 61 Amortization of prior service cost (7) (6) Net pension enhancement and curtailment/settlement cost 37 298 Net benefit cost 237 537 Pension Benefits - Non-U.S. Service cost 150 195 Interest cost 160 130 Expected return on plan assets (213) (258) Amortization of actuarial loss/(gain) 47 108 Amortization of prior service cost 12 15 Net pension enhancement and curtailment/settlement cost — 12 Net benefit cost 156 202 Other Postretirement Benefits Service cost 40 49 Interest cost 55 56 Expected return on plan assets (3) (5) Amortization of actuarial loss/(gain) 3 19 Amortization of prior service cost (11) (11) Net benefit cost 84 108 |
Financial Instruments and Der_2
Financial Instruments and Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments | The estimated fair value of financial instruments at March 31, 2022 and December 31, 2021, and the related hierarchy level for the fair value measurement was as follows: March 31, 2022 (millions of dollars) Fair Value Level 1 Level 2 Level 3 Total Gross Assets Effect of Effect of Difference Net Assets Derivative assets (1) 6,886 2,890 — 9,776 (7,888) (60) — 1,828 Advances to/receivables from equity companies (2)(6) — 2,631 5,491 8,122 — — 435 8,557 Other long-term financial assets (3) 1,152 — 1,049 2,201 — — 165 2,366 Liabilities Derivative liabilities (4) 7,459 3,940 — 11,399 (7,888) (632) — 2,879 Long-term debt (5) 40,367 76 2 40,445 — — (140) 40,305 Long-term obligations to equity companies (6) — — 2,969 2,969 — — (94) 2,875 Other long-term financial liabilities (7) — — 886 886 — — 53 939 December 31, 2021 (millions of dollars) Fair Value Level 1 Level 2 Level 3 Total Gross Assets Effect of Effect of Difference Net Assets Derivative assets (1) 1,422 1,523 — 2,945 (1,930) (28) — 987 Advances to/receivables from equity companies (2)(6) — 3,076 5,373 8,449 — — (123) 8,326 Other long-term financial assets (3) 1,134 — 1,058 2,192 — — 181 2,373 Liabilities Derivative liabilities (4) 1,701 2,594 — 4,295 (1,930) (306) — 2,059 Long-term debt (5) 44,454 88 3 44,545 — — (2,878) 41,667 Long-term obligations to equity companies (6) — — 3,084 3,084 — — (227) 2,857 Other long-term financial liabilities (7) — — 902 902 — — 58 960 (1) Included in the Balance Sheet lines: Notes and accounts receivable - net 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) 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. (7) Included in the Balance Sheet line: Other long-term obligations. Includes contingent consideration related to a prior year acquisition where fair value is based on expected drilling activities and discount rates. |
Schedule of Notional Amounts of Outstanding Derivative Positions | The net notional long/(short) position of derivative instruments at March 31, 2022 and December 31, 2021, was as follows: March 31, December 31, 2022 2021 (millions) Crude oil (barrels) 91 82 Petroleum products (barrels) (37) (48) Natural gas (MMBTUs) (101) (115) |
Derivative Instruments - Before-Tax Realized and Unrealized Gains / (Losses) | 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: Three Months Ended 2022 2021 (millions of dollars) Sales and other operating revenue (2,535) (512) Crude oil and product purchases (26) 1 Total (2,561) (511) |
Disclosures About Segments An_2
Disclosures About Segments And Related Information (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Disclosures About Segments And Related Information | Three Months Ended 2022 2021 Earnings (Loss) After Income Tax (millions of dollars) Upstream United States 2,376 363 Non-U.S. (1) 2,112 2,191 Downstream United States 685 (113) Non-U.S. (353) (277) Chemical United States 819 715 Non-U.S. 535 700 Corporate and Financing (1) (694) (849) Corporate total 5,480 2,730 (1) Results for 2022 include charges of $3.3 billion in non-U.S. Upstream and $0.1 billion in Corporate and Financing associated with the Corporation's interest in Sakhalin-1. (See Note 2 to Condensed Consolidated Financial Statements) Sales and Other Operating Revenue Upstream United States 2,656 1,885 Non-U.S. 6,343 3,094 Downstream United States 25,356 16,078 Non-U.S. 43,609 28,613 Chemical United States 3,982 3,091 Non-U.S. 5,781 4,887 Corporate and Financing 7 (96) Corporate total 87,734 57,552 Intersegment Revenue Upstream United States 6,191 3,323 Non-U.S. 10,835 6,817 Downstream United States 8,261 3,953 Non-U.S. 9,503 5,381 Chemical United States 2,863 1,950 Non-U.S. 2,213 1,231 Corporate and Financing 57 57 |
Geographic Sales And Other Operating Revenue | Geographic Three Months Ended Sales and Other Operating Revenue 2022 2021 (millions of dollars) United States 31,994 21,054 Non-U.S. 55,740 36,498 Total 87,734 57,552 Significant Non-U.S. revenue sources include: (1) United Kingdom 7,548 2,943 Canada 6,995 4,258 France 4,356 2,782 Singapore 4,322 3,435 Belgium 2,836 1,989 Italy 2,836 1,865 (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. |
Russia (Details)
Russia (Details) Boe in Millions, $ in Billions | 3 Months Ended | |
Mar. 31, 2022USD ($)Boe | Dec. 31, 2021Boe | |
Exxon Mobil Corporation [Member] | ||
Impaired Long-Lived Assets Held and Used [Line Items] | ||
Proved developed and undeveloped reserve, net (energy) | Boe | 18,500 | |
Sakhalin -1 [Member] | ||
Impaired Long-Lived Assets Held and Used [Line Items] | ||
Largely impairment charges, after-tax | $ | $ 3.4 | |
Largely impairment charges, before tax | $ | $ 4.6 | |
Proved developed and undeveloped reserves, disqualified, exit from operations | Boe | 150 | |
Proved developed and undeveloped reserves disqualified exit from operations percentage of total | 1.00% |
Litigation And Other Continge_3
Litigation And Other Contingencies (Schedule Of Guarantees) (Details) $ in Millions | Mar. 31, 2022USD ($) |
Litigation And Other Contingencies [Line Items] | |
Guarantees | $ 8,506 |
Equity Company Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 1,982 |
Other Third Party Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 6,524 |
Debt Related Guarantees [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 1,297 |
Debt Related Guarantees [Member] | Equity Company Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 1,152 |
Debt Related Guarantees [Member] | Other Third Party Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 145 |
Other Guarantees [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 7,209 |
Other Guarantees [Member] | Equity Company Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 830 |
Other Guarantees [Member] | Other Third Party Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | $ 6,379 |
Other Comprehensive Income In_3
Other Comprehensive Income Information (Schedule Of Accumulated Other Comprehensive Income Information) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
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 | $ 741 | $ 149 |
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 | 105 | 168 |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 93 | 378 |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||
Beginning Balance, Total | (13,764) | |
Ending Balance, Total | (12,914) | |
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 | (11,499) | (10,614) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 661 | 88 |
Adjustment for foreign exchange translation (gain)/loss included in net income | 0 | 0 |
Total change in accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 661 | 88 |
Ending Balance, Cumulative Foreign Exchange Translation Adjustment | (10,838) | (10,526) |
Net investment hedge gain/(loss), net of taxes | 79 | 191 |
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease [Abstract] | ||
Beginning Balance, Postretirement Benefits Reserves Adjustment | (2,265) | (6,091) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 102 | 158 |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 87 | 369 |
Total change in accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 189 | 527 |
Ending Balance, Postretirement Benefits Reserves Adjustment | (2,076) | (5,564) |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||
Beginning Balance, Total | (13,764) | (16,705) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Total | 763 | 246 |
Amounts reclassified from accumulated other comprehensive income, Total | 87 | 369 |
Total change in accumulated other comprehensive income, Total | 850 | 615 |
Ending Balance, Total | $ (12,914) | $ (16,090) |
Other Comprehensive Income In_4
Other Comprehensive Income Information (Amounts Reclassified Out Of Acc Other Comp Income) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Other Comprehensive Income Information Before Tax [Abstract] | ||
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) | $ (120) | $ (484) |
Other Comprehensive Income In_5
Other Comprehensive Income Information (Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Other Comprehensive Income Information Tax [Abstract] | ||
Foreign exchange translation adjustment | $ (22) | $ (53) |
Postretirement benefits reserves adjustment (excluding amortization) | (40) | (58) |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | (27) | (106) |
Total | $ (89) | $ (217) |
Earnings Per Share (Earnings Pe
Earnings Per Share (Earnings Per Share Computation) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Earnings per common share | ||
Net income (loss) attributable to ExxonMobil (millions of dollars) | $ 5,480 | $ 2,730 |
Weighted average number of common shares outstanding (millions of shares) | 4,266 | 4,272 |
Earnings (loss) per common share (dollars) | $ 1.28 | $ 0.64 |
Dividends paid per common share (dollars) | $ 0.88 | $ 0.87 |
Pension And Other Postretirem_3
Pension And Other Postretirement Benefits (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Pension Benefits - U.S. | ||
Service cost | $ 179 | $ 225 |
Interest cost | 129 | 139 |
Expected return on plan assets | (140) | (180) |
Amortization of actuarial loss/(gain) | 39 | 61 |
Amortization of prior service cost | (7) | (6) |
Net pension enhancement and curtailment/settlement cost | 37 | 298 |
Net benefit cost | 237 | 537 |
Pension Benefits - Non-U.S. [Member] | ||
Service cost | 150 | 195 |
Interest cost | 160 | 130 |
Expected return on plan assets | (213) | (258) |
Amortization of actuarial loss/(gain) | 47 | 108 |
Amortization of prior service cost | 12 | 15 |
Net pension enhancement and curtailment/settlement cost | 0 | 12 |
Net benefit cost | 156 | 202 |
Other Postretirement Benefits [Member] | ||
Service cost | 40 | 49 |
Interest cost | 55 | 56 |
Expected return on plan assets | (3) | (5) |
Amortization of actuarial loss/(gain) | 3 | 19 |
Amortization of prior service cost | (11) | (11) |
Net benefit cost | $ 84 | $ 108 |
Financial Instruments and Der_3
Financial Instruments and Derivatives (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Dec. 31, 2021 | |
Financial Instruments And Derivatives [Abstract] | ||
Initial margin collateral receivable | $ 1,347 | $ 641 |
Net investment hedge, European business | 5,000 | |
Short Term Financing [Member] | ||
Debt Instrument [Line Items] | ||
Unused credit line | 10,700 | |
Long Term Financing [Member] | ||
Debt Instrument [Line Items] | ||
Unused credit line | $ 600 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Millions | Mar. 31, 2022 | Dec. 31, 2021 |
Total Gross Assets & Liabilities [Domain] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | $ 9,776 | $ 2,945 |
Advances to/receivables from equity companies | 8,122 | 8,449 |
Other long-term financial assets | 2,201 | 2,192 |
Derivative liabilities | 11,399 | 4,295 |
Long-term debt | 40,445 | 44,545 |
Long-term obligations to equity companies | 2,969 | 3,084 |
Other long-term financial liabilities | 886 | 902 |
Net Carrying Value [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | 1,828 | 987 |
Advances to/receivables from equity companies | 8,557 | 8,326 |
Other long-term financial assets | 2,366 | 2,373 |
Derivative liabilities | 2,879 | 2,059 |
Long-term debt | 40,305 | 41,667 |
Long-term obligations to equity companies | 2,875 | 2,857 |
Other long-term financial liabilities | 939 | 960 |
Effect Of Counterparty Netting [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | (7,888) | (1,930) |
Derivative liabilities | (7,888) | (1,930) |
Effect Of Collateral Netting [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | (60) | (28) |
Derivative liabilities | (632) | (306) |
Difference In Carrying Value And Fair Value [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Advances to/receivables from equity companies | 435 | (123) |
Other long-term financial assets | 165 | 181 |
Long-term debt | (140) | (2,878) |
Long-term obligations to equity companies | (94) | (227) |
Other long-term financial liabilities | 53 | 58 |
Level 1 [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | 6,886 | 1,422 |
Other long-term financial assets | 1,152 | 1,134 |
Derivative liabilities | 7,459 | 1,701 |
Long-term debt | 40,367 | 44,454 |
Level 2 [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | 2,890 | 1,523 |
Advances to/receivables from equity companies | 2,631 | 3,076 |
Derivative liabilities | 3,940 | 2,594 |
Long-term debt | 76 | 88 |
Level 3 [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Advances to/receivables from equity companies | 5,491 | 5,373 |
Other long-term financial assets | 1,049 | 1,058 |
Long-term debt | 2 | 3 |
Long-term obligations to equity companies | 2,969 | 3,084 |
Other long-term financial liabilities | $ 886 | $ 902 |
Derivative Instrument Balance S
Derivative Instrument Balance Sheet (Details) bbl in Millions, MMBTU in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2022MMBTUbbl | Dec. 31, 2021MMBTUbbl | |
Crude oil [Member] | Long [Member] | ||
Net notional long / short position of derivative instruments bbl | 91 | 82 |
Petroleum products [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments bbl | 37 | 48 |
Natural gas [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments MMBtus | MMBTU | 101 | 115 |
Derivative Instruments (Details
Derivative Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Realized and Unrealized Before-Tax Gain / (Loss) on Derivative Instruments Recognized in the Consolidated Statement of Income | ||
Sales and other operating revenue | $ 87,734 | $ 57,552 |
Crude oil and product purchases | (52,388) | (32,601) |
Not Designated as Hedging Instrument [Member] | ||
Realized and Unrealized Before-Tax Gain / (Loss) on Derivative Instruments Recognized in the Consolidated Statement of Income | ||
Sales and other operating revenue | (2,535) | (512) |
Crude oil and product purchases | (26) | 1 |
Total | $ (2,561) | $ (511) |
Disclosures About Segments An_3
Disclosures About Segments And Related Information (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Segment Reporting Information [Line Items] | ||
Earnings (Loss) after income tax | $ 5,480 | $ 2,730 |
Sales and other operating revenue | 87,734 | 57,552 |
Sakhalin -1 [Member] | ||
Segment Reporting Information [Line Items] | ||
Largely impairment charges, after-tax | 3,400 | |
Upstream United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (Loss) after income tax | 2,376 | 363 |
Sales and other operating revenue | 2,656 | 1,885 |
Intersegment Revenue | 6,191 | 3,323 |
Upstream Non-U.S. [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (Loss) after income tax | 2,112 | 2,191 |
Sales and other operating revenue | 6,343 | 3,094 |
Intersegment Revenue | 10,835 | 6,817 |
Upstream Non-U.S. [Member] | Sakhalin -1 [Member] | ||
Segment Reporting Information [Line Items] | ||
Largely impairment charges, after-tax | 3,300 | |
Downstream United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (Loss) after income tax | 685 | (113) |
Sales and other operating revenue | 25,356 | 16,078 |
Intersegment Revenue | 8,261 | 3,953 |
Downstream Non-U.S. [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (Loss) after income tax | (353) | (277) |
Sales and other operating revenue | 43,609 | 28,613 |
Intersegment Revenue | 9,503 | 5,381 |
Chemical United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (Loss) after income tax | 819 | 715 |
Sales and other operating revenue | 3,982 | 3,091 |
Intersegment Revenue | 2,863 | 1,950 |
Chemical Non-U.S. [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (Loss) after income tax | 535 | 700 |
Sales and other operating revenue | 5,781 | 4,887 |
Intersegment Revenue | 2,213 | 1,231 |
Corporate And Financing [Member] | ||
Segment Reporting Information [Line Items] | ||
Earnings (Loss) after income tax | (694) | (849) |
Sales and other operating revenue | 7 | (96) |
Intersegment Revenue | 57 | $ 57 |
Corporate And Financing [Member] | Sakhalin -1 [Member] | ||
Segment Reporting Information [Line Items] | ||
Largely impairment charges, after-tax | $ 100 |
Disclosures About Segments An_4
Disclosures About Segments And Related Information (Schedule of Geographic Sales And Operating Revenue) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Sales and other operating revenue | $ 87,734 | $ 57,552 |
U.S. [Member] | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Sales and other operating revenue | 31,994 | 21,054 |
Non-U.S. [Member] | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Sales and other operating revenue | 55,740 | 36,498 |
United Kingdom [Member] | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Sales and other operating revenue | 7,548 | 2,943 |
Canada [Member] | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Sales and other operating revenue | 6,995 | 4,258 |
France [Member] | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Sales and other operating revenue | 4,356 | 2,782 |
Singapore [Member] | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Sales and other operating revenue | 4,322 | 3,435 |
Belgium [Member] | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Sales and other operating revenue | 2,836 | 1,989 |
Italy [Member] | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Sales and other operating revenue | $ 2,836 | $ 1,865 |
Divestment Activities (Narrativ
Divestment Activities (Narrative) (Details) - Disposal Group, Sale Approved but Not Closed [Member] - Plan [Member] - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2022 | Mar. 31, 2022 | |
Mobil Producing Nigeria Unlimited | ||
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract] | ||
Estimated gain (loss) on sale | $ (500) | |
Upstream Assets in Romania [Member] | Subsequent Event [Member] | ||
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract] | ||
Estimated gain (loss) on sale | $ 300 |