Document And Entity Information
Document And Entity Information | 3 Months Ended |
Mar. 31, 2023 shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Mar. 31, 2023 |
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 | 4,042,984,946 |
Amendment Flag | false |
Entity Central Index Key | 0000034088 |
Document Fiscal Year Focus | 2023 |
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, 2023 | Mar. 31, 2022 | |
Revenues and other income | ||
Total | $ 86,564 | $ 90,500 |
Costs and other deductions | ||
Crude oil and product purchases | 46,003 | 52,388 |
Production and manufacturing expenses | 9,436 | 10,241 |
Selling, general and administrative expenses | 2,390 | 2,409 |
Depreciation and depletion (includes impairments) | 4,244 | 8,883 |
Exploration expenses, including dry holes | 141 | 173 |
Non-service pension and postretirement benefit expense | 167 | 108 |
Interest expense | 159 | 188 |
Other taxes and duties | 7,221 | 7,554 |
Total costs and other deductions | 69,761 | 81,944 |
Income (loss) before income taxes | 16,803 | 8,556 |
Income tax expense (benefit) | 4,960 | 2,806 |
Net income (loss) including noncontrolling interests | 11,843 | 5,750 |
Net income (loss) attributable to noncontrolling interests | 413 | 270 |
Net income (loss) attributable to ExxonMobil | $ 11,430 | $ 5,480 |
Earnings (loss) per common share, basic (in dollars per share) | $ 2.79 | $ 1.28 |
Earnings (loss) per common share, diluted (in dollars per share) | $ 2.79 | $ 1.28 |
Sales and other operating revenue | ||
Revenues and other income | ||
Total | $ 83,644 | $ 87,734 |
Income from equity affiliates | ||
Revenues and other income | ||
Total | 2,381 | 2,538 |
Other income | ||
Revenues and other income | ||
Total | $ 539 | $ 228 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of Comprehensive Income [Abstract] | ||
Net income (loss) including noncontrolling interests | $ 11,843 | $ 5,750 |
Other comprehensive income (loss) (net of income taxes) | ||
Foreign exchange translation adjustment | 173 | 741 |
Postretirement benefits reserves adjustment (excluding amortization) | 19 | 105 |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | 6 | 93 |
Total other comprehensive income (loss) | 198 | 939 |
Comprehensive income (loss) including noncontrolling interests | 12,041 | 6,689 |
Comprehensive income (loss) attributable to noncontrolling interests | 436 | 359 |
Comprehensive income (loss) attributable to ExxonMobil | $ 11,605 | $ 6,330 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheet - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets | ||
Cash and cash equivalents | $ 32,651 | $ 29,640 |
Cash and cash equivalents – restricted | 25 | 25 |
Notes and accounts receivable – net | 38,808 | 41,749 |
Inventories | ||
Crude oil, products and merchandise | 19,458 | 20,434 |
Materials and supplies | 4,184 | 4,001 |
Other current assets | 2,098 | 1,782 |
Total current assets | 97,224 | 97,631 |
Investments, advances and long-term receivables | 49,044 | 49,793 |
Property, plant and equipment – net | 206,023 | 204,692 |
Other assets, including intangibles – net | 17,080 | 16,951 |
Total Assets | 369,371 | 369,067 |
Current liabilities | ||
Notes and loans payable | 2,296 | 634 |
Accounts payable and accrued liabilities | 59,935 | 63,197 |
Income taxes payable | 4,435 | 5,214 |
Total current liabilities | 66,666 | 69,045 |
Long-term debt | 39,150 | 40,559 |
Postretirement benefits reserves | 10,183 | 10,045 |
Deferred income tax liabilities | 23,195 | 22,874 |
Long-term obligations to equity companies | 2,376 | 2,338 |
Other long-term obligations | 21,387 | 21,733 |
Total Liabilities | 162,957 | 166,594 |
Commitments and contingencies (Note 3) | ||
Equity | ||
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 15,904 | 15,752 |
Earnings reinvested | 440,552 | 432,860 |
Accumulated other comprehensive income | (13,095) | (13,270) |
Common stock held in treasury (3,976 million shares at March 31, 2023 and 3,937 million shares at December 31, 2022) | (244,676) | (240,293) |
ExxonMobil share of equity | 198,685 | 195,049 |
Noncontrolling interests | 7,729 | 7,424 |
Total Equity | 206,414 | 202,473 |
Total Liabilities and Equity | $ 369,371 | $ 369,067 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
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 |
Balance (in shares) - in treasury | 3,976 | 3,937 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement Of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities | ||
Net income (loss) including noncontrolling interests | $ 11,843 | $ 5,750 |
Depreciation and depletion (includes impairments) | 4,244 | 8,883 |
Changes in operational working capital, excluding cash and debt | (302) | 1,086 |
All other items – net | 556 | (931) |
Net cash provided by operating activities | 16,341 | 14,788 |
Cash flows from investing activities | ||
Additions to property, plant and equipment | (5,412) | (3,911) |
Proceeds from asset sales and returns of investments | 854 | 293 |
Additional investments and advances | (445) | (417) |
Other investing activities including collection of advances | 78 | 90 |
Net cash used in investing activities | (4,925) | (3,945) |
Cash flows from financing activities | ||
Additions to long-term debt | 20 | 0 |
Reductions in short-term debt | (126) | (2,098) |
Additions/(reductions) in debt with three months or less maturity | (192) | 1,366 |
Cash dividends to ExxonMobil shareholders | (3,738) | (3,760) |
Cash dividends to noncontrolling interests | (115) | (60) |
Changes in noncontrolling interests | (16) | (94) |
Common stock acquired | (4,340) | (2,067) |
Net cash used in financing activities | (8,507) | (6,713) |
Effects of exchange rate changes on cash | 102 | 142 |
Increase/(decrease) in cash and cash equivalents | 3,011 | 4,272 |
Cash and cash equivalents at beginning of period | 29,665 | 6,802 |
Cash and cash equivalents at end of period | 32,676 | 11,074 |
Supplemental Disclosures | ||
Income taxes paid | 4,404 | 1,798 |
Cash interest paid | ||
Cash interest paid - Included in cash flows from operating activities | 256 | 319 |
Cash interest paid - Capitalized, included in cash flows from investing activities | 291 | 187 |
Total cash interest paid | 547 | 506 |
Noncash right of use assets recorded in exchange for lease liabilities | ||
Noncash right of use assets recorded in exchange for lease liabilities - Operating leases | 393 | 240 |
Noncash right of use assets recorded in exchange for lease liabilities - Finance leases | $ 438 | $ 656 |
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 Interest [Member] |
Balance at Dec. 31, 2021 | $ 175,683 | $ 15,746 | $ 392,059 | $ (13,764) | $ (225,464) | $ 168,577 | $ 7,106 |
Common Stock, Shares, Issued at Dec. 31, 2021 | (8,019) | ||||||
Treasury Stock, Common, Shares at Dec. 31, 2021 | (3,780) | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Treasury stock, shares, acquired (in shares) | (26) | ||||||
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) | ||||||
Dispositions | 2 | 2 | 2 | ||||
Balance at Mar. 31, 2022 | $ 176,526 | 15,879 | 393,779 | (12,914) | (227,529) | 169,215 | 7,311 |
Common Stock, 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 | ||||||
Balance at Dec. 31, 2022 | $ 202,473 | 15,752 | 432,860 | (13,270) | (240,293) | 195,049 | 7,424 |
Common Stock, Shares, Issued at Dec. 31, 2022 | (8,019) | ||||||
Treasury Stock, Common, Shares at Dec. 31, 2022 | (3,937) | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Treasury stock, shares, acquired (in shares) | (39) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2022 | 4,082 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Amortization of stock-based awards | $ 158 | 158 | 158 | ||||
Other | (22) | (6) | (6) | (16) | |||
Net income (loss) for the period | 11,843 | 11,430 | 11,430 | 413 | |||
Dividends - common shares (company) | (3,738) | (3,738) | |||||
Dividends - common shares (NCI) | (115) | ||||||
Dividends - common shares (total) | (3,853) | ||||||
Other comprehensive income (loss) | 198 | 175 | 175 | 23 | |||
Acquisitions, at cost (company) | (4,385) | (4,385) | |||||
Acquisitions, at cost (total) | (4,385) | ||||||
Dispositions | 2 | 2 | 2 | ||||
Balance at Mar. 31, 2023 | $ 206,414 | $ 15,904 | $ 440,552 | $ (13,095) | $ (244,676) | $ 198,685 | $ 7,729 |
Common Stock, Shares, Issued at Mar. 31, 2023 | (8,019) | ||||||
Balance (in shares) - in treasury at Mar. 31, 2023 | (3,976) | ||||||
Balance (in shares) - outstanding at Mar. 31, 2023 | 4,043 |
Basis Of Financial Statement Pr
Basis Of Financial Statement Preparation | 3 Months Ended |
Mar. 31, 2023 | |
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 2022 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, 2023 | |
Impairment or Disposal of Tangible Assets Disclosure [Abstract] | |
Russia | RussiaIn response to Russia’s military action in Ukraine, the Corporation announced in early 2022 that it planned to discontinue operations on the Sakhalin-1 project (“Sakhalin”) and develop steps to exit the venture. In light of this, an impairment assessment was conducted, and management determined that the carrying value of the asset group was not recoverable. As a result, the Corporation’s first-quarter 2022 earnings included after-tax charges of $3.4 billion largely representing the full 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 (includes impairments)” on the Condensed Consolidated Statement of Income. Effective October 14, 2022 the Russian government unilaterally terminated the Corporation’s interests in Sakhalin, transferring operations to a Russian operator. The Corporation’s fourth-quarter 2022 results included an after-tax benefit of $1.1 billion largely reflecting the impact of the expropriation on the company’s various obligations related to Sakhalin. The Corporation's exit from the project resulted in approximately 150 million oil-equivalent barrels no longer qualifying as proved reserves at year-end 2022. |
Litigation And Other Contingenc
Litigation And Other Contingencies | 3 Months Ended |
Mar. 31, 2023 | |
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, 2023, 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. Where it is not possible to make a reasonable estimation of the maximum potential amount of future payments, future performance is expected to be either immaterial or have only a remote chance of occurrence. 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, 2023 (millions of dollars) Equity Company Obligations (1) Other Third-Party Obligations Total Guarantees Debt-related 1,229 155 1,384 Other 739 5,385 6,124 Total 1,968 5,540 7,508 (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 the first quarter and early April 2023, the Corporation entered into two long-term purchase agreements with an estimated total obligation of approximately $4.6 billion. As of March 31, undiscounted commitments for leases not yet commenced totaled $4.1 billion for operating leases and $2.3 billion for finance leases. 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; sanctions 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, 2023 | |
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 (millions of dollars) Cumulative Foreign Exchange Translation Adjustment Postretirement Benefits Reserves Adjustment Total 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) Balance as of December 31, 2022 (14,591) 1,321 (13,270) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) 157 14 171 Amounts reclassified from accumulated other comprehensive income — 4 4 Total change in accumulated other comprehensive income 157 18 175 Balance as of March 31, 2023 (14,434) 1,339 (13,095) (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) net of taxes of $(74) million and $79 million in 2023 and 2022, respectively. Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) (millions of dollars) Three Months Ended 2023 2022 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) (8) (120) Income Tax (Expense)/Credit For Components of Other Comprehensive Income (millions of dollars) Three Months Ended 2023 2022 Foreign exchange translation adjustment 48 (22) Postretirement benefits reserves adjustment (excluding amortization) 11 (40) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (2) (27) Total 57 (89) |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2023 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Earnings per common share Three Months Ended 2023 2022 Net income (loss) attributable to ExxonMobil (millions of dollars) 11,430 5,480 Weighted-average number of common shares outstanding (millions of shares) 4,102 4,266 Earnings (loss) per common share (dollars) (1) 2.79 1.28 Dividends paid per common share (dollars) 0.91 0.88 (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, 2023 | |
Retirement Benefits [Abstract] | |
Pension And Other Postretirement Benefits | Pension and Other Postretirement Benefits (millions of dollars) Three Months Ended 2023 2022 Components of net benefit cost Pension Benefits - U.S. Service cost 120 179 Interest cost 166 129 Expected return on plan assets (133) (140) Amortization of actuarial loss/(gain) 21 39 Amortization of prior service cost (7) (7) Net pension enhancement and curtailment/settlement cost 8 37 Net benefit cost 175 237 Pension Benefits - Non-U.S. Service cost 82 150 Interest cost 234 160 Expected return on plan assets (174) (213) Amortization of actuarial loss/(gain) 14 47 Amortization of prior service cost 12 12 Net benefit cost 168 156 Other Postretirement Benefits Service cost 20 40 Interest cost 70 55 Expected return on plan assets (4) (3) Amortization of actuarial loss/(gain) (30) 3 Amortization of prior service cost (10) (11) Net benefit cost 46 84 |
Financial Instruments and Deriv
Financial Instruments and Derivatives | 3 Months Ended |
Mar. 31, 2023 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments and Derivatives | Financial Instruments and Derivatives The estimated fair value of financial instruments and derivatives at March 31, 2023 and December 31, 2022, and the related hierarchy level for the fair value measurement was as follows: March 31, 2023 Fair Value (millions of dollars) Level 1 Level 2 Level 3 Total Gross Assets Effect of Effect of Difference in Carrying Value and Fair Value Net Assets Derivative assets (1) 5,122 2,372 — 7,494 (5,761) (943) — 790 Advances to/receivables from equity companies (2)(6) — 2,440 5,165 7,605 — — 614 8,219 Other long-term financial assets (3) 1,243 — 1,506 2,749 — — 313 3,062 Liabilities Derivative liabilities (4) 4,233 2,720 — 6,953 (5,761) (60) — 1,132 Long-term debt (5) 32,905 1,036 6 33,947 — — 3,415 37,362 Long-term obligations to equity companies (6) — — 2,502 2,502 — — (126) 2,376 Other long-term financial liabilities (7) — — 713 713 — — 40 753 December 31, 2022 Fair Value (millions of dollars) Level 1 Level 2 Level 3 Total Gross Assets Effect of Effect of Difference in Carrying Value and Fair Value Net Assets Derivative assets (1) 4,309 3,455 — 7,764 (5,778) (969) — 1,017 Advances to/receivables from equity companies (2)(6) — 2,406 4,958 7,364 — — 685 8,049 Other long-term financial assets (3) 1,208 — 1,413 2,621 — — 346 2,967 Liabilities Derivative liabilities (4) 3,417 3,264 — 6,681 (5,778) (79) — 824 Long-term debt (5) 33,112 1,880 6 34,998 — — 4,173 39,171 Long-term obligations to equity companies (6) — — 2,467 2,467 — — (129) 2,338 Other long-term financial liabilities (7) — — 679 679 — — 38 717 (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, 2023 and December 31, 2022, respectively, the Corporation had $884 million and $1,494 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, 2023, the Corporation has designated $4.9 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 $363 million and undrawn long-term committed lines of credit of $1,281 million as of first quarter 2023. Derivative Instruments The Corporation’s size, strong capital structure, geographic diversity, and the complementary nature of its business segments 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 Condensed 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, 2023 and December 31, 2022, or results of operations for the periods ended March 31, 2023 and 2022. 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, 2023 and December 31, 2022, was as follows: (millions) March 31, 2023 December 31, 2022 Crude oil (barrels) 15 4 Petroleum products (barrels) (48) (52) Natural gas (MMBTUs) (29) (64) Realized and unrealized gains/(losses) on derivative instruments that were recognized in the Condensed Consolidated Statement of Income are included in the following lines on a before-tax basis: (millions of dollars) Three Months Ended 2023 2022 Sales and other operating revenue 651 (2,535) Crude oil and product purchases (25) (26) Total 626 (2,561) |
Disclosures About Segments And
Disclosures About Segments And Related Information | 3 Months Ended |
Mar. 31, 2023 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Disclosures About Segments And Related Information | Disclosures about Segments and Related Information (millions of dollars) Three Months Ended 2023 2022 Earnings (Loss) After Income Tax Upstream United States 1,632 2,376 Non-U.S. (1) 4,825 2,112 Energy Products United States 1,910 489 Non-U.S. 2,273 (684) Chemical Products United States 324 770 Non-U.S. 47 636 Specialty Products United States 451 246 Non-U.S. 323 230 Corporate and Financing (1) (355) (694) Corporate total 11,430 5,480 Sales and Other Operating Revenue Upstream United States 2,770 2,656 Non-U.S. 5,387 6,343 Energy Products United States 24,924 24,853 Non-U.S. 39,976 41,715 Chemical Products United States 2,029 3,094 Non-U.S. 3,692 4,497 Specialty Products United States 1,568 1,391 Non-U.S. 3,289 3,178 Corporate and Financing 9 7 Corporate total 83,644 87,734 Intersegment Revenue Upstream United States 4,956 6,191 Non-U.S. 9,399 10,835 Energy Products United States 5,451 6,849 Non-U.S. 6,969 8,762 Chemical Products United States 1,788 1,767 Non-U.S. 777 1,507 Specialty Products United States 680 559 Non-U.S. 99 224 Corporate and Financing 64 57 (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 expropriation of the Corporation's interest in Sakhalin-1. Geographic Sales and Other Operating Revenue (millions of dollars) Three Months Ended 2023 2022 United States 31,291 31,994 Non-U.S. 52,353 55,740 Total 83,644 87,734 Significant Non-U.S. revenue sources include: (1) United Kingdom 7,011 7,548 Canada 6,721 6,995 Singapore 3,731 4,322 France 3,484 4,356 Belgium 2,649 2,836 Italy 2,536 2,836 Australia 2,428 2,456 (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. Revenue from Contracts with Customers Sales and other operating revenue includes both revenue within the scope of ASC 606 and outside the scope of ASC 606. Trade receivables in Notes and accounts receivable – net reported on the Balance Sheet also includes both receivables within the scope of ASC 606 and those outside the scope of ASC 606. Revenue and receivables outside the scope of ASC 606 primarily relate to physically settled commodity contracts accounted for as derivatives. Contractual terms, credit quality, and type of customer are generally similar between those revenues and receivables within the scope of ASC 606 and those outside it. Sales and other operating revenue (millions of dollars) Three Months Ended 2023 2022 Revenue from contracts with customers 64,304 68,816 Revenue outside the scope of ASC 606 19,340 18,918 Total 83,644 87,734 |
Divestment Activities
Divestment Activities | 3 Months Ended |
Mar. 31, 2023 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Divestment Activities | Divestment Activities In the first quarter, the Corporation completed the sale of Mobil California Exploration and Producing Asset Company, consisting of ExxonMobil's interest in the Aera Energy joint venture, to Green Gate Resources E, LLC. Cash flow related to the divestment was $0.6 billion in the first quarter, and the Corporation expects to receive additional consideration of $0.4 billion, primarily in 2023. The net book value of the assets divested was $1.1 billion. In January 2023, the Corporation executed an agreement with Bangchak Corporation to sell its interest in Esso Thailand Ltd. that includes the Sriracha Refinery, select distribution terminals, and a network of retail stations. The transaction is anticipated to close in third quarter 2023. In November 2022, the Corporation executed an agreement for the sale of the Santa Ynez Unit and associated assets in California. The agreement is subject to certain conditions precedent and government approvals and does not yet meet held-for-sale criteria under ASC 360. Should the conditions precedent be met and the potential transaction close, the Corporation would expect to recognize a loss of up to $2 billion. In 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. In mid-2022, a Nigerian court issued an order to halt transition activities and enter into arbitration with the Nigerian National Petroleum Company. The closing date and any loss on sale will depend on resolution of these matters. |
Summary of Accounting Policies
Summary of Accounting Policies (Policy) | 3 Months Ended |
Mar. 31, 2023 | |
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, 2023 | |
Loss Contingency [Abstract] | |
Schedule Of Guarantees | March 31, 2023 (millions of dollars) Equity Company Obligations (1) Other Third-Party Obligations Total Guarantees Debt-related 1,229 155 1,384 Other 739 5,385 6,124 Total 1,968 5,540 7,508 (1) ExxonMobil share |
Other Comprehensive Income In_2
Other Comprehensive Income Information (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income Information | ExxonMobil Share of Accumulated Other Comprehensive Income (millions of dollars) Cumulative Foreign Exchange Translation Adjustment Postretirement Benefits Reserves Adjustment Total 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) Balance as of December 31, 2022 (14,591) 1,321 (13,270) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) 157 14 171 Amounts reclassified from accumulated other comprehensive income — 4 4 Total change in accumulated other comprehensive income 157 18 175 Balance as of March 31, 2023 (14,434) 1,339 (13,095) (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) net of taxes of $(74) million and $79 million in 2023 and 2022, respectively. |
Reclassification Out Of Accumulated Other Comprehensive Income | Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) (millions of dollars) Three Months Ended 2023 2022 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) (8) (120) |
Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income | Income Tax (Expense)/Credit For Components of Other Comprehensive Income (millions of dollars) Three Months Ended 2023 2022 Foreign exchange translation adjustment 48 (22) Postretirement benefits reserves adjustment (excluding amortization) 11 (40) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (2) (27) Total 57 (89) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Computation | Earnings per common share Three Months Ended 2023 2022 Net income (loss) attributable to ExxonMobil (millions of dollars) 11,430 5,480 Weighted-average number of common shares outstanding (millions of shares) 4,102 4,266 Earnings (loss) per common share (dollars) (1) 2.79 1.28 Dividends paid per common share (dollars) 0.91 0.88 (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, 2023 | |
Retirement Benefits [Abstract] | |
Pension And Other Postretirement Benefits | (millions of dollars) Three Months Ended 2023 2022 Components of net benefit cost Pension Benefits - U.S. Service cost 120 179 Interest cost 166 129 Expected return on plan assets (133) (140) Amortization of actuarial loss/(gain) 21 39 Amortization of prior service cost (7) (7) Net pension enhancement and curtailment/settlement cost 8 37 Net benefit cost 175 237 Pension Benefits - Non-U.S. Service cost 82 150 Interest cost 234 160 Expected return on plan assets (174) (213) Amortization of actuarial loss/(gain) 14 47 Amortization of prior service cost 12 12 Net benefit cost 168 156 Other Postretirement Benefits Service cost 20 40 Interest cost 70 55 Expected return on plan assets (4) (3) Amortization of actuarial loss/(gain) (30) 3 Amortization of prior service cost (10) (11) Net benefit cost 46 84 |
Financial Instruments and Der_2
Financial Instruments and Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments | The estimated fair value of financial instruments and derivatives at March 31, 2023 and December 31, 2022, and the related hierarchy level for the fair value measurement was as follows: March 31, 2023 Fair Value (millions of dollars) Level 1 Level 2 Level 3 Total Gross Assets Effect of Effect of Difference in Carrying Value and Fair Value Net Assets Derivative assets (1) 5,122 2,372 — 7,494 (5,761) (943) — 790 Advances to/receivables from equity companies (2)(6) — 2,440 5,165 7,605 — — 614 8,219 Other long-term financial assets (3) 1,243 — 1,506 2,749 — — 313 3,062 Liabilities Derivative liabilities (4) 4,233 2,720 — 6,953 (5,761) (60) — 1,132 Long-term debt (5) 32,905 1,036 6 33,947 — — 3,415 37,362 Long-term obligations to equity companies (6) — — 2,502 2,502 — — (126) 2,376 Other long-term financial liabilities (7) — — 713 713 — — 40 753 December 31, 2022 Fair Value (millions of dollars) Level 1 Level 2 Level 3 Total Gross Assets Effect of Effect of Difference in Carrying Value and Fair Value Net Assets Derivative assets (1) 4,309 3,455 — 7,764 (5,778) (969) — 1,017 Advances to/receivables from equity companies (2)(6) — 2,406 4,958 7,364 — — 685 8,049 Other long-term financial assets (3) 1,208 — 1,413 2,621 — — 346 2,967 Liabilities Derivative liabilities (4) 3,417 3,264 — 6,681 (5,778) (79) — 824 Long-term debt (5) 33,112 1,880 6 34,998 — — 4,173 39,171 Long-term obligations to equity companies (6) — — 2,467 2,467 — — (129) 2,338 Other long-term financial liabilities (7) — — 679 679 — — 38 717 (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, 2023 and December 31, 2022, was as follows: (millions) March 31, 2023 December 31, 2022 Crude oil (barrels) 15 4 Petroleum products (barrels) (48) (52) Natural gas (MMBTUs) (29) (64) |
Derivative Instruments - Before-Tax Realized and Unrealized Gains / (Losses) | Realized and unrealized gains/(losses) on derivative instruments that were recognized in the Condensed Consolidated Statement of Income are included in the following lines on a before-tax basis: (millions of dollars) Three Months Ended 2023 2022 Sales and other operating revenue 651 (2,535) Crude oil and product purchases (25) (26) Total 626 (2,561) |
Disclosures About Segments An_2
Disclosures About Segments And Related Information (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Disclosures About Segments And Related Information | (millions of dollars) Three Months Ended 2023 2022 Earnings (Loss) After Income Tax Upstream United States 1,632 2,376 Non-U.S. (1) 4,825 2,112 Energy Products United States 1,910 489 Non-U.S. 2,273 (684) Chemical Products United States 324 770 Non-U.S. 47 636 Specialty Products United States 451 246 Non-U.S. 323 230 Corporate and Financing (1) (355) (694) Corporate total 11,430 5,480 Sales and Other Operating Revenue Upstream United States 2,770 2,656 Non-U.S. 5,387 6,343 Energy Products United States 24,924 24,853 Non-U.S. 39,976 41,715 Chemical Products United States 2,029 3,094 Non-U.S. 3,692 4,497 Specialty Products United States 1,568 1,391 Non-U.S. 3,289 3,178 Corporate and Financing 9 7 Corporate total 83,644 87,734 Intersegment Revenue Upstream United States 4,956 6,191 Non-U.S. 9,399 10,835 Energy Products United States 5,451 6,849 Non-U.S. 6,969 8,762 Chemical Products United States 1,788 1,767 Non-U.S. 777 1,507 Specialty Products United States 680 559 Non-U.S. 99 224 Corporate and Financing 64 57 (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 expropriation of the Corporation's interest in Sakhalin-1. |
Geographic Sales And Other Operating Revenue | Geographic Sales and Other Operating Revenue (millions of dollars) Three Months Ended 2023 2022 United States 31,291 31,994 Non-U.S. 52,353 55,740 Total 83,644 87,734 Significant Non-U.S. revenue sources include: (1) United Kingdom 7,011 7,548 Canada 6,721 6,995 Singapore 3,731 4,322 France 3,484 4,356 Belgium 2,649 2,836 Italy 2,536 2,836 Australia 2,428 2,456 (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. |
Disaggregation of Revenue | Sales and other operating revenue (millions of dollars) Three Months Ended 2023 2022 Revenue from contracts with customers 64,304 68,816 Revenue outside the scope of ASC 606 19,340 18,918 Total 83,644 87,734 |
Russia (Details)
Russia (Details) Boe in Millions, $ in Millions | 3 Months Ended | 12 Months Ended |
Dec. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) Boe | |
Impaired Long-Lived Assets Held and Used [Line Items] | ||
Impact Of Expropriation (After-Tax) benefit | $ 1,100 | |
Sakhalin -1 | ||
Impaired Long-Lived Assets Held and Used [Line Items] | ||
Largely impairment charges, after-tax | $ 3,400 | |
Largely impairment charges, before tax | $ 4,600 | |
Proved developed and undeveloped reserves, disqualified, exit from operations | Boe | 150 |
Litigation And Other Continge_3
Litigation And Other Contingencies (Narrative) (Details) $ in Millions | 4 Months Ended | |
Apr. 30, 2023 USD ($) agreement | Mar. 31, 2023 USD ($) | |
Subsequent Event | ||
Long-Term Purchase Commitment [Line Items] | ||
Number of Long-Term Purchase Agreements | agreement | 2 | |
Purchase Obligation | $ 4,600 | |
Operating Lease [Member] | ||
Lessee Lease Description [Line Items] | ||
Additional undiscounted commitments for leases not yet commenced | $ 4,100 | |
Finance Lease [Member] | ||
Lessee Lease Description [Line Items] | ||
Additional undiscounted commitments for leases not yet commenced | $ 2,300 |
Litigation And Other Continge_4
Litigation And Other Contingencies (Schedule Of Guarantees) (Details) $ in Millions | Mar. 31, 2023 USD ($) |
Litigation And Other Contingencies [Line Items] | |
Guarantees | $ 7,508 |
Equity Company Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 1,968 |
Other Third Party Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 5,540 |
Debt Related Guarantees [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 1,384 |
Debt Related Guarantees [Member] | Equity Company Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 1,229 |
Debt Related Guarantees [Member] | Other Third Party Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 155 |
Other Guarantees [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 6,124 |
Other Guarantees [Member] | Equity Company Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 739 |
Other Guarantees [Member] | Other Third Party Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | $ 5,385 |
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, 2023 | Mar. 31, 2022 | |
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 | $ 173 | $ 741 |
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 | 19 | 105 |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 6 | 93 |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||
Beginning Balance, Total | (13,270) | |
Ending Balance, Total | (13,095) | |
Exxon Mobil Corporation Share After Noncontrolling Interest [Member] | ||
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease [Abstract] | ||
Beginning Balance, Cumulative Foreign Exchange Translation Adjustment | (14,591) | (11,499) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 157 | 661 |
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 | 157 | 661 |
Ending Balance, Cumulative Foreign Exchange Translation Adjustment | (14,434) | (10,838) |
Net investment hedge gain/(loss), net of taxes | (74) | 79 |
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease [Abstract] | ||
Beginning Balance, Postretirement Benefits Reserves Adjustment | 1,321 | (2,265) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 14 | 102 |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 4 | 87 |
Total change in accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 18 | 189 |
Ending Balance, Postretirement Benefits Reserves Adjustment | 1,339 | (2,076) |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||
Beginning Balance, Total | (13,270) | (13,764) |
Current period change excluding amounts reclassified from accumulated other comprehensive income, Total | 171 | 763 |
Amounts reclassified from accumulated other comprehensive income, Total | 4 | 87 |
Total change in accumulated other comprehensive income, Total | 175 | 850 |
Ending Balance, Total | $ (13,095) | $ (12,914) |
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, 2023 | Mar. 31, 2022 | |
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) | $ (8) | $ (120) |
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, 2023 | Mar. 31, 2022 | |
Other Comprehensive Income Information Tax [Abstract] | ||
Foreign exchange translation adjustment | $ 48 | $ (22) |
Postretirement benefits reserves adjustment (excluding amortization) | 11 | (40) |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | (2) | (27) |
Total | $ 57 | $ (89) |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Earnings Per Share [Abstract] | ||
Net income (loss) attributable to ExxonMobil | $ 11,430 | $ 5,480 |
Weighted average number of common shares outstanding (in shares) | 4,102 | 4,266 |
Earnings (loss) per common share, basic (in dollars per share) | $ 2.79 | $ 1.28 |
Earnings (loss) per common share, diluted (in dollars per share) | 2.79 | 1.28 |
Dividends paid per common share (in dollars per share) | $ 0.91 | $ 0.88 |
Pension And Other Postretirem_3
Pension And Other Postretirement Benefits (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Other Postretirement Benefits [Member] | ||
Service cost | $ 20 | $ 40 |
Interest cost | 70 | 55 |
Expected return on plan assets | (4) | (3) |
Amortization of actuarial loss/(gain) | (30) | 3 |
Amortization of prior service cost | (10) | (11) |
Net benefit cost | 46 | 84 |
Pension Benefits - U.S. | Pension Plan | ||
Service cost | 120 | 179 |
Interest cost | 166 | 129 |
Expected return on plan assets | (133) | (140) |
Amortization of actuarial loss/(gain) | 21 | 39 |
Amortization of prior service cost | (7) | (7) |
Net pension enhancement and curtailment/settlement cost | 8 | 37 |
Net benefit cost | 175 | 237 |
Pension Benefits - Non-U.S. [Member] | Pension Plan | ||
Service cost | 82 | 150 |
Interest cost | 234 | 160 |
Expected return on plan assets | (174) | (213) |
Amortization of actuarial loss/(gain) | 14 | 47 |
Amortization of prior service cost | 12 | 12 |
Net benefit cost | $ 168 | $ 156 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Total Gross Assets & Liabilities [Domain] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | $ 7,494 | $ 7,764 |
Advances to/receivables from equity companies | 7,605 | 7,364 |
Other long-term financial assets | 2,749 | 2,621 |
Derivative liabilities | 6,953 | 6,681 |
Long-term debt | 33,947 | 34,998 |
Long-term obligations to equity companies | 2,502 | 2,467 |
Other long-term financial liabilities | 713 | 679 |
Net Carrying Value [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | 790 | 1,017 |
Advances to/receivables from equity companies | 8,219 | 8,049 |
Other long-term financial assets | 3,062 | 2,967 |
Derivative liabilities | 1,132 | 824 |
Long-term debt | 37,362 | 39,171 |
Long-term obligations to equity companies | 2,376 | 2,338 |
Other long-term financial liabilities | $ 753 | $ 717 |
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] | Other assets, including intangibles – net, Notes and accounts receivable – net | Other assets, including intangibles – net, Notes and accounts receivable – net |
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] | Accounts payable and accrued liabilities, Other long-term obligations | Accounts payable and accrued liabilities, Other long-term obligations |
Effect Of Counterparty Netting [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | $ (5,761) | $ (5,778) |
Derivative liabilities | (5,761) | (5,778) |
Effect Of Collateral Netting [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | (943) | (969) |
Derivative liabilities | (60) | (79) |
Difference In Carrying Value And Fair Value [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Advances to/receivables from equity companies | 614 | 685 |
Other long-term financial assets | 313 | 346 |
Long-term debt | 3,415 | 4,173 |
Long-term obligations to equity companies | (126) | (129) |
Other long-term financial liabilities | 40 | 38 |
Level 1 [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | 5,122 | 4,309 |
Other long-term financial assets | 1,243 | 1,208 |
Derivative liabilities | 4,233 | 3,417 |
Long-term debt | 32,905 | 33,112 |
Level 2 [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | 2,372 | 3,455 |
Advances to/receivables from equity companies | 2,440 | 2,406 |
Derivative liabilities | 2,720 | 3,264 |
Long-term debt | 1,036 | 1,880 |
Level 3 [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Advances to/receivables from equity companies | 5,165 | 4,958 |
Other long-term financial assets | 1,506 | 1,413 |
Long-term debt | 6 | 6 |
Long-term obligations to equity companies | 2,502 | 2,467 |
Other long-term financial liabilities | $ 713 | $ 679 |
Financial Instruments and Der_3
Financial Instruments and Derivatives (Narrative) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Debt Instrument [Line Items] | ||
Initial margin collateral receivable | $ 884 | $ 1,494 |
Net investment hedge, European business - long-term debt principal | 4,900 | |
Short Term Financing [Member] | ||
Debt Instrument [Line Items] | ||
Unused credit line | 363 | |
Long Term Financing [Member] | ||
Debt Instrument [Line Items] | ||
Unused credit line | $ 1,281 |
Derivative Instrument Balance S
Derivative Instrument Balance Sheet (Details) bbl in Millions, MMBTU in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2023 MMBTU bbl | Dec. 31, 2022 MMBTU bbl | |
Crude oil [Member] | Long [Member] | ||
Net notional long / short position of derivative instruments bbl | 15 | 4 |
Petroleum products [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments bbl | 48 | 52 |
Natural gas [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments MMBtus | MMBTU | 29 | 64 |
Derivative Instruments (Details
Derivative Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Realized and Unrealized Before-Tax Gain / (Loss) on Derivative Instruments Recognized in the Consolidated Statement of Income | ||
Sales and other operating revenue | $ 83,644 | $ 87,734 |
Crude oil and product purchases | (46,003) | (52,388) |
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 | 651 | (2,535) |
Crude oil and product purchases | (25) | (26) |
Total | $ 626 | $ (2,561) |
Disclosures About Segments An_3
Disclosures About Segments And Related Information (Schedule of Segments and Related Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Segment Reporting Information [Line Items] | |||
Earnings (Loss) After Income Tax | $ 11,430 | $ 5,480 | |
Sales and other operating revenue | 83,644 | 87,734 | |
Sakhalin -1 | |||
Segment Reporting Information [Line Items] | |||
Largely impairment charges, after-tax | $ 3,400 | ||
Upstream | United States | |||
Segment Reporting Information [Line Items] | |||
Earnings (Loss) After Income Tax | 1,632 | 2,376 | |
Sales and other operating revenue | 2,770 | 2,656 | |
Intersegment Revenue | 4,956 | 6,191 | |
Upstream | Non-U.S. | |||
Segment Reporting Information [Line Items] | |||
Earnings (Loss) After Income Tax | 4,825 | 2,112 | |
Sales and other operating revenue | 5,387 | 6,343 | |
Intersegment Revenue | 9,399 | 10,835 | |
Energy Products | United States | |||
Segment Reporting Information [Line Items] | |||
Earnings (Loss) After Income Tax | 1,910 | 489 | |
Sales and other operating revenue | 24,924 | 24,853 | |
Intersegment Revenue | 5,451 | 6,849 | |
Energy Products | Non-U.S. | |||
Segment Reporting Information [Line Items] | |||
Earnings (Loss) After Income Tax | 2,273 | (684) | |
Sales and other operating revenue | 39,976 | 41,715 | |
Intersegment Revenue | 6,969 | 8,762 | |
Chemical Products | United States | |||
Segment Reporting Information [Line Items] | |||
Earnings (Loss) After Income Tax | 324 | 770 | |
Sales and other operating revenue | 2,029 | 3,094 | |
Intersegment Revenue | 1,788 | 1,767 | |
Chemical Products | Non-U.S. | |||
Segment Reporting Information [Line Items] | |||
Earnings (Loss) After Income Tax | 47 | 636 | |
Sales and other operating revenue | 3,692 | 4,497 | |
Intersegment Revenue | 777 | 1,507 | |
Specialty Products | United States | |||
Segment Reporting Information [Line Items] | |||
Earnings (Loss) After Income Tax | 451 | 246 | |
Sales and other operating revenue | 1,568 | 1,391 | |
Intersegment Revenue | 680 | 559 | |
Specialty Products | Non-U.S. | |||
Segment Reporting Information [Line Items] | |||
Earnings (Loss) After Income Tax | 323 | 230 | |
Sales and other operating revenue | 3,289 | 3,178 | |
Intersegment Revenue | 99 | 224 | |
Corporate And Financing | |||
Segment Reporting Information [Line Items] | |||
Earnings (Loss) After Income Tax | (355) | (694) | |
Sales and other operating revenue | 9 | 7 | |
Intersegment Revenue | 64 | 57 | |
Corporate And Financing | Sakhalin -1 | |||
Segment Reporting Information [Line Items] | |||
Largely impairment charges, after-tax | $ 100 | ||
Upstream Non-U.S. | Sakhalin -1 | |||
Segment Reporting Information [Line Items] | |||
Largely impairment charges, after-tax | $ 3,300 |
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, 2023 | Mar. 31, 2022 | |
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Sales and other operating revenue | $ 83,644 | $ 87,734 |
Total | 86,564 | 90,500 |
Sales and other operating revenue | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Sales and other operating revenue | 64,304 | 68,816 |
Total | 83,644 | 87,734 |
United States | Sales and other operating revenue | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Total | 31,291 | 31,994 |
Non-U.S. | Sales and other operating revenue | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Total | 52,353 | 55,740 |
United Kingdom | Sales and other operating revenue | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Total | 7,011 | 7,548 |
Canada | Sales and other operating revenue | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Total | 6,721 | 6,995 |
Singapore | Sales and other operating revenue | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Total | 3,731 | 4,322 |
France | Sales and other operating revenue | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Total | 3,484 | 4,356 |
Belgium | Sales and other operating revenue | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Total | 2,649 | 2,836 |
Italy | Sales and other operating revenue | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Total | 2,536 | 2,836 |
Australia | Sales and other operating revenue | ||
Segment Reporting Revenue Reconciling Item [Line Items] | ||
Total | $ 2,428 | $ 2,456 |
Disclosures About Segments An_5
Disclosures About Segments And Related Information (Sales and Other Operating Revenues) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||
Sales and other operating revenue | $ 83,644 | $ 87,734 |
Total | 86,564 | 90,500 |
Sales and other operating revenue | ||
Disaggregation of Revenue [Line Items] | ||
Sales and other operating revenue | 64,304 | 68,816 |
Revenue outside the scope of ASC 606 | 19,340 | 18,918 |
Total | $ 83,644 | $ 87,734 |
Divestment Activities (Narrativ
Divestment Activities (Narrative) (Details) - USD ($) $ in Billions | 3 Months Ended | 5 Months Ended | 9 Months Ended |
Mar. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2023 | |
Aera Energy Joint Venture | |||
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract] | |||
Proceeds from sale of equity method investments | $ 0.6 | ||
Equity method investment, net book value disposed | $ 1.1 | $ 1.1 | |
Aera Energy Joint Venture | Forecast | |||
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract] | |||
Proceeds from sale of equity method investments | $ 0.4 | ||
Disposal Group, Sale Approved but Not Closed | Santa Ynez Unit | |||
Disposal Group, Not Discontinued Operation, Disposal Disclosures [Abstract] | |||
Disposal group, not discontinued operation, expected loss on disposal | $ 2 |