Document And Entity Information
Document And Entity Information | 6 Months Ended |
Jun. 30, 2024 shares | |
Document information [Line Items] | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Jun. 30, 2024 |
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 | 22777 Springwoods Village Parkway |
Entity Address, City or Town | Spring |
Entity Address State or Province | TX |
Entity Address, Postal Zip Code | 77389-1425 |
City Area Code | 972 |
Local Phone Number | 940-6000 |
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 | 4,442,826,580 |
Amendment Flag | false |
Entity Central Index Key | 0000034088 |
Document Fiscal Year Focus | 2024 |
Document Fiscal Period Focus | Q2 |
Current Fiscal Year End Date | --12-31 |
Common Stock, without par value | |
Document information [Line Items] | |
Security 12(b) Title | Common Stock, without par value |
Trading Symbol | XOM |
Security Exchange Name | NYSE |
0.524% Notes due 2028 | |
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 | |
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 | |
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 | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Revenues and other income | ||||
Revenues | $ 93,060 | $ 82,914 | $ 176,143 | $ 169,478 |
Costs and other deductions | ||||
Crude oil and product purchases | 54,199 | 47,598 | 101,800 | 93,601 |
Production and manufacturing expenses | 9,804 | 8,860 | 18,895 | 18,296 |
Selling, general and administrative expenses | 2,568 | 2,449 | 5,063 | 4,839 |
Depreciation and depletion (includes impairments) | 5,787 | 4,242 | 10,599 | 8,486 |
Exploration expenses, including dry holes | 153 | 133 | 301 | 274 |
Non-service pension and postretirement benefit expense | 34 | 164 | 57 | 331 |
Interest expense | 271 | 249 | 492 | 408 |
Other taxes and duties | 6,579 | 7,563 | 12,902 | 14,784 |
Total costs and other deductions | 79,395 | 71,258 | 150,109 | 141,019 |
Income (loss) before income taxes | 13,665 | 11,656 | 26,034 | 28,459 |
Income tax expense (benefit) | 4,094 | 3,503 | 7,897 | 8,463 |
Net income (loss) including noncontrolling interests | 9,571 | 8,153 | 18,137 | 19,996 |
Net income (loss) attributable to noncontrolling interests | 331 | 273 | 677 | 686 |
Net income (loss) attributable to ExxonMobil | $ 9,240 | $ 7,880 | $ 17,460 | $ 19,310 |
Earnings (loss) per common share, basic (in dollars per share) | $ 2.14 | $ 1.94 | $ 4.20 | $ 4.73 |
Earnings (loss) per common share, diluted (in dollars per share) | $ 2.14 | $ 1.94 | $ 4.20 | $ 4.73 |
Sales and other operating revenue | ||||
Revenues and other income | ||||
Revenues | $ 89,986 | $ 80,795 | $ 170,397 | $ 164,439 |
Income from equity affiliates | ||||
Revenues and other income | ||||
Revenues | 1,744 | 1,382 | 3,586 | 3,763 |
Other income | ||||
Revenues and other income | ||||
Revenues | $ 1,330 | $ 737 | $ 2,160 | $ 1,276 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income (loss) including noncontrolling interests | $ 9,571 | $ 8,153 | $ 18,137 | $ 19,996 |
Other comprehensive income (net of income taxes) | ||||
Foreign exchange translation adjustment | (115) | 514 | (1,382) | 687 |
Postretirement benefits reserves adjustment (excluding amortization) | 29 | 17 | (13) | 36 |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | 17 | 7 | 26 | 13 |
Total other comprehensive income (loss) | (69) | 538 | (1,369) | 736 |
Comprehensive income (loss) including noncontrolling interests | 9,502 | 8,691 | 16,768 | 20,732 |
Comprehensive income (loss) attributable to noncontrolling interests | 280 | 373 | 506 | 809 |
Comprehensive income (loss) attributable to ExxonMobil | $ 9,222 | $ 8,318 | $ 16,262 | $ 19,923 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheet - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Current assets | ||
Cash and cash equivalents | $ 26,460 | $ 31,539 |
Cash and cash equivalents – restricted | 28 | 29 |
Notes and accounts receivable – net | 43,071 | 38,015 |
Inventories | ||
Crude oil, products and merchandise | 19,685 | 20,528 |
Materials and supplies | 4,818 | 4,592 |
Other current assets | 2,176 | 1,906 |
Total current assets | 96,238 | 96,609 |
Investments, advances and long-term receivables | 47,948 | 47,630 |
Property, plant and equipment – net | 298,283 | 214,940 |
Other assets, including intangibles – net | 18,238 | 17,138 |
Total Assets | 460,707 | 376,317 |
Current liabilities | ||
Notes and loans payable | 6,621 | 4,090 |
Accounts payable and accrued liabilities | 60,107 | 58,037 |
Income taxes payable | 4,035 | 3,189 |
Total current liabilities | 70,763 | 65,316 |
Liabilities, Noncurrent [Abstract] | ||
Long-term debt | 36,565 | 37,483 |
Postretirement benefits reserves | 10,398 | 10,496 |
Deferred income tax liabilities | 40,080 | 24,452 |
Total Liabilities | 184,441 | 163,779 |
Commitments and contingencies (Note 3) | ||
Equity | ||
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 46,781 | 17,781 |
Earnings reinvested | 463,294 | 453,927 |
Accumulated other comprehensive income | (13,187) | (11,989) |
Common stock held in treasury (3,576 million shares at June 30, 2024 and 4,048 million shares at December 31, 2023) | (228,483) | (254,917) |
ExxonMobil share of equity | 268,405 | 204,802 |
Noncontrolling interests | 7,861 | 7,736 |
Total Equity | 276,266 | 212,538 |
Total Liabilities and Equity | 460,707 | 376,317 |
Related Party | ||
Liabilities, Noncurrent [Abstract] | ||
Long-term obligations | 1,612 | 1,804 |
Nonrelated Party | ||
Liabilities, Noncurrent [Abstract] | ||
Long-term obligations | $ 25,023 | $ 24,228 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
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 | 3,576 | 4,048 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement Of Cash Flows - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income (loss) including noncontrolling interests | $ 18,137 | $ 19,996 |
Depreciation and depletion (includes impairments) | 10,599 | 8,486 |
Changes in operational working capital, excluding cash and debt | (2,608) | (3,885) |
All other items – net | (904) | 1,127 |
Net cash provided by operating activities | 25,224 | 25,724 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Additions to property, plant and equipment | (11,309) | (10,771) |
Proceeds from asset sales and returns of investments | 1,629 | 2,141 |
Additional investments and advances | (744) | (834) |
Other investing activities including collection of advances | 224 | 183 |
Cash acquired from mergers and acquisitions | 754 | 0 |
Net cash used in investing activities | (9,446) | (9,281) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Additions to long-term debt | 217 | 136 |
Reductions in long-term debt | (1,142) | (6) |
Reductions in short-term debt | (2,771) | (172) |
Additions/(reductions) in debt with three months or less maturity | (6) | (172) |
Contingent consideration payments | (27) | (68) |
Cash dividends to ExxonMobil shareholders | (8,093) | (7,439) |
Cash dividends to noncontrolling interests | (397) | (293) |
Changes in noncontrolling interests | 16 | 11 |
Common stock acquired | (8,337) | (8,680) |
Net cash used in financing activities | (20,540) | (16,683) |
Effects of exchange rate changes on cash | (318) | 132 |
Increase/(decrease) in cash and cash equivalents | (5,080) | (108) |
Cash and cash equivalents at beginning of period | 31,568 | 29,665 |
Cash and cash equivalents at end of period | 26,488 | 29,557 |
SUPPLEMENTAL DISCLOSURES | ||
Income taxes paid | 6,968 | 8,841 |
Cash interest paid | ||
Cash interest paid - Included in cash flows from operating activities | 321 | 295 |
Cash interest paid - Capitalized, included in cash flows from investing activities | 590 | 561 |
Total cash interest paid | 911 | 856 |
Noncash right of use assets recorded in exchange for lease liabilities | ||
Noncash right of use assets recorded in exchange for lease liabilities - Operating leases | 647 | 1,036 |
Noncash right of use assets recorded in exchange for lease liabilities - Finance leases | $ 53 | $ 438 |
Condensed Consolidated Statem_4
Condensed Consolidated Statement Of Cash Flows (Parenthetical) - Pioneer Natural Resources Merger shares in Millions, $ in Billions | May 03, 2024 USD ($) shares |
Equity interests issued or issuable, number of shares (in shares) | shares | 545 |
Business combination, consideration transferred, equity interests issued and issuable | $ 63 |
Business combination, consideration transferred, liabilities incurred | $ 5 |
Condensed Consolidated Statem_5
Condensed Consolidated Statement Of Changes In Equity - USD ($) shares in Millions, $ in Millions | Total | Common Stock | Earnings Reinvested | Accumulated Other Comprehensive Income | Common Stock Held in Treasury | ExxonMobil Share of Equity | Non-controlling Interests |
Balance at Dec. 31, 2022 | $ 202,473 | $ 15,752 | $ 432,860 | $ (13,270) | $ (240,293) | $ 195,049 | $ 7,424 |
Balance (in shares) - issued at Dec. 31, 2022 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2022 | (3,937) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2022 | 4,082 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Amortization of stock-based awards | $ 288 | 288 | 288 | ||||
Other | 0 | (11) | (11) | 11 | |||
Net income (loss) for the period | 19,996 | 19,310 | 19,310 | 686 | |||
Dividends - common shares (company) | (7,439) | (7,439) | |||||
Dividends - common shares (NCI) | (293) | ||||||
Dividends - common shares (total) | (7,732) | ||||||
Other comprehensive income (loss) | 736 | 613 | 613 | 123 | |||
Share repurchases, at cost (company) | (8,768) | (8,768) | |||||
Share repurchases, at cost (total) | $ (8,768) | ||||||
Share repurchases, at cost (in shares) | (79) | ||||||
Dispositions | $ 4 | 4 | 4 | ||||
Balance at Jun. 30, 2023 | $ 206,997 | 16,029 | 444,731 | (12,657) | (249,057) | 199,046 | 7,951 |
Balance (in shares) - issued at Jun. 30, 2023 | 8,019 | ||||||
Balance (in shares) - in treasury at Jun. 30, 2023 | (4,016) | ||||||
Balance (in shares) - outstanding at Jun. 30, 2023 | 4,003 | ||||||
Balance at Mar. 31, 2023 | $ 206,414 | 15,904 | 440,552 | (13,095) | (244,676) | 198,685 | 7,729 |
Balance (in 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 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Amortization of stock-based awards | $ 130 | 130 | 130 | ||||
Other | 22 | (5) | (5) | 27 | |||
Net income (loss) for the period | 8,153 | 7,880 | 7,880 | 273 | |||
Dividends - common shares (company) | (3,701) | (3,701) | |||||
Dividends - common shares (NCI) | (178) | ||||||
Dividends - common shares (total) | (3,879) | ||||||
Other comprehensive income (loss) | 538 | 438 | 438 | 100 | |||
Share repurchases, at cost (company) | (4,383) | (4,383) | |||||
Share repurchases, at cost (total) | $ (4,383) | ||||||
Share repurchases, at cost (in shares) | (40) | ||||||
Dispositions | $ 2 | 2 | 2 | ||||
Balance at Jun. 30, 2023 | $ 206,997 | 16,029 | 444,731 | (12,657) | (249,057) | 199,046 | 7,951 |
Balance (in shares) - issued at Jun. 30, 2023 | 8,019 | ||||||
Balance (in shares) - in treasury at Jun. 30, 2023 | (4,016) | ||||||
Balance (in shares) - outstanding at Jun. 30, 2023 | 4,003 | ||||||
Balance at Dec. 31, 2023 | $ 212,538 | 17,781 | 453,927 | (11,989) | (254,917) | 204,802 | 7,736 |
Balance (in shares) - issued at Dec. 31, 2023 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2023 | (4,048) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2023 | 3,971 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Amortization of stock-based awards | $ 375 | 375 | 375 | ||||
Other | (108) | (124) | (124) | 16 | |||
Net income (loss) for the period | 18,137 | 17,460 | 17,460 | 677 | |||
Dividends - common shares (company) | (8,093) | (8,093) | |||||
Dividends - common shares (NCI) | (397) | ||||||
Dividends - common shares (total) | (8,490) | ||||||
Other comprehensive income (loss) | (1,369) | (1,198) | (1,198) | (171) | |||
Share repurchases, at cost (company) | (8,288) | (8,288) | |||||
Share repurchases, at cost (total) | $ (8,288) | ||||||
Share repurchases, at cost (in shares) | (73) | ||||||
Issued for acquisitions | $ 63,352 | 28,749 | 34,603 | 63,352 | |||
Issued for acquisitions (in shares) | 545 | ||||||
Dispositions | $ 119 | 119 | 119 | ||||
Balance at Jun. 30, 2024 | $ 276,266 | 46,781 | 463,294 | (13,187) | (228,483) | 268,405 | 7,861 |
Balance (in shares) - issued at Jun. 30, 2024 | 8,019 | ||||||
Balance (in shares) - in treasury at Jun. 30, 2024 | (3,576) | ||||||
Balance (in shares) - outstanding at Jun. 30, 2024 | 4,443 | ||||||
Balance at Mar. 31, 2024 | $ 213,052 | 17,971 | 458,339 | (13,169) | (257,891) | 205,250 | 7,802 |
Balance (in shares) - issued at Mar. 31, 2024 | 8,019 | ||||||
Balance (in shares) - in treasury at Mar. 31, 2024 | (4,076) | ||||||
Balance (in shares) - outstanding at Mar. 31, 2024 | 3,943 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Amortization of stock-based awards | $ 178 | 178 | 178 | ||||
Other | (107) | (117) | (117) | 10 | |||
Net income (loss) for the period | 9,571 | 9,240 | 9,240 | 331 | |||
Dividends - common shares (company) | (4,285) | (4,285) | |||||
Dividends - common shares (NCI) | (231) | ||||||
Dividends - common shares (total) | (4,516) | ||||||
Other comprehensive income (loss) | (69) | (18) | (18) | (51) | |||
Share repurchases, at cost (company) | (5,310) | (5,310) | |||||
Share repurchases, at cost (total) | $ (5,310) | ||||||
Share repurchases, at cost (in shares) | (45) | ||||||
Issued for acquisitions | $ 63,352 | 28,749 | 34,603 | 63,352 | |||
Issued for acquisitions (in shares) | 545 | ||||||
Dispositions | $ 115 | 115 | 115 | ||||
Balance at Jun. 30, 2024 | $ 276,266 | $ 46,781 | $ 463,294 | $ (13,187) | $ (228,483) | $ 268,405 | $ 7,861 |
Balance (in shares) - issued at Jun. 30, 2024 | 8,019 | ||||||
Balance (in shares) - in treasury at Jun. 30, 2024 | (3,576) | ||||||
Balance (in shares) - outstanding at Jun. 30, 2024 | 4,443 |
Basis Of Financial Statement Pr
Basis Of Financial Statement Preparation | 6 Months Ended |
Jun. 30, 2024 | |
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 2023 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. The Corporation's exploration and production activities are accounted for under the "successful efforts" method. |
Pioneer Natural Resources Merge
Pioneer Natural Resources Merger | 6 Months Ended |
Jun. 30, 2024 | |
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] | |
Pioneer Natural Resources Merger | Pioneer Natural Resources Merger On May 3, 2024, the Corporation acquired Pioneer Natural Resources Company ("Pioneer"), an independent oil and gas exploration and production company. The acquisition included over 850 thousand net acres in the Midland Basin of West Texas and proved reserves in excess of 2 billion oil-equivalent barrels. In connection with the acquisition, we issued 545 million shares of ExxonMobil common stock having a fair value of $63 billion on the acquisition date, and assumed debt with a fair value of $5 billion. The transaction was accounted for as a business combination in accordance with ASC 805, which requires that assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date. The following table summarizes the provisional fair values of the assets acquired and liabilities assumed. (billions of dollars) Pioneer Current assets (1) 3 Other non-current assets 1 Property, plant & equipment (2) 84 Total identifiable assets acquired 88 Current liabilities (1) 3 Long-term debt (3) 5 Deferred income tax liabilities (4) 16 Other non-current liabilities 2 Total liabilities assumed 26 Net identifiable assets acquired 62 Goodwill (5) 1 Net assets (6) 63 (1) Current assets and current liabilities consist primarily of accounts receivable and payable, with their respective fair values approximating historical values given their short-term duration, expectation of insignificant bad debt expense, and our credit rating. (2) Property, plant and equipment was preliminarily valued using the income approach. Significant inputs and assumptions used in the income approach included estimates for commodity prices, future oil and gas production profiles, operating expenses, capital expenditures, and a risk-adjusted discount rate. Collectively, these inputs are Level 3 inputs. (3) Long-term debt was valued using market prices as of the acquisition date, which reflects the use of Level 1 inputs. (4) Deferred income taxes represent the tax effects of differences in the tax basis and acquisition date fair values of assets acquired and liabilities assumed. (5) Goodwill was allocated to the Upstream segment. (6) Provisional fair value measurements were made for assets acquired and liabilities assumed. Adjustments to those measurements may be made in subsequent periods, up to one year from the date of acquisition, as we continue to evaluate the information necessary to complete the analysis. Debt Assumed in the Merger The following table presents long-term debt assumed at closing: (millions of dollars) Par Value Fair Value 0.250% Convertible Senior Notes due May 2025 (1) 450 1,327 1.125% Senior Notes due January 2026 750 699 5.100% Senior Notes due March 2026 1,100 1,096 7.200% Senior Notes due January 2028 241 252 4.125% Senior Notes due February 2028 138 130 1.900% Senior Notes due August 2030 1,100 914 2.150% Senior Notes due January 2031 1,000 832 (1) In June 2024, the Corporation redeemed in full all of the Convertible Senior Notes assumed from Pioneer for an amount consistent with the acquisition date fair value. Actual and Pro Forma Impact of Merger The following table presents revenues and earnings for Pioneer since the acquisition date (May 3, 2024), for the periods presented: (millions of dollars) Three Months Ended Six Months Ended Sales and other operating revenues 4,372 4,372 Net income (loss) attributable to ExxonMobil 398 398 The following table presents unaudited pro forma information for the Corporation as if the merger with Pioneer had occurred at the beginning of January 1, 2023: Unaudited (millions of dollars) Three Months Ended Six Months Ended 2024 2023 2024 2023 Sales and other operating revenues 92,167 86,076 178,557 175,425 Net income (loss) attributable to ExxonMobil 9,265 8,577 18,256 20,663 The historical financial information was adjusted to give effect to the pro forma events that were directly attributable to the merger and factually supportable. The unaudited pro forma consolidated results are not necessarily indicative of what the consolidated results of operations actually would have been had the merger been completed on January 1, 2023. In addition, the unaudited pro forma consolidated results reflect pro forma adjustments primarily related to conforming Pioneer's accounting policies to ExxonMobil, additional depreciation expense related to the fair value adjustment of the acquired property, plant and equipment, our capital structure, Pioneer's transaction-related costs, and applicable income tax impacts of the pro forma adjustments. Our transaction costs to effect the acquisition were immaterial. |
Litigation and Other Contingenc
Litigation and Other Contingencies | 6 Months Ended |
Jun. 30, 2024 | |
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. State and local governments and other entities in various jurisdictions across the United States and its territories have filed a number of legal proceedings against several oil and gas companies, including ExxonMobil, requesting unprecedented legal and equitable relief for various alleged injuries purportedly connected to climate change. These lawsuits assert a variety of novel, untested claims under statutory and common law. Additional such lawsuits may be filed. We believe the legal and factual theories set forth in these proceedings are meritless and represent an inappropriate attempt to use the court system to usurp the proper role of policymakers in addressing the societal challenges of climate change. Local governments in Louisiana have filed unprecedented legal proceedings against a number of oil and gas companies, including ExxonMobil, requesting compensation for the restoration of coastal marsh erosion in the state. We believe the factual and legal theories set forth in these proceedings are meritless. While the outcome of any litigation can be unpredictable, we believe the likelihood is remote that the ultimate outcomes of these lawsuits will have a material adverse effect on the Corporation’s operations, financial condition, or financial statements taken as a whole. We will continue to defend vigorously against these claims. Other Contingencies The Corporation and certain of its consolidated subsidiaries were contingently liable at June 30, 2024, 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. June 30, 2024 (millions of dollars) Equity Company Obligations (1) Other Third-Party Obligations Total Guarantees Debt-related 1,070 135 1,205 Other 678 5,896 6,574 Total 1,748 6,031 7,779 (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. |
Other Comprehensive Income Info
Other Comprehensive Income Information | 6 Months Ended |
Jun. 30, 2024 | |
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 Postretirement Total Balance as of December 31, 2022 (14,591) 1,321 (13,270) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) 570 35 605 Amounts reclassified from accumulated other comprehensive income — 8 8 Total change in accumulated other comprehensive income 570 43 613 Balance as of June 30, 2023 (14,021) 1,364 (12,657) Balance as of December 31, 2023 (13,056) 1,067 (11,989) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) (1,197) (21) (1,218) Amounts reclassified from accumulated other comprehensive income — 20 20 Total change in accumulated other comprehensive income (1,197) (1) (1,198) Balance as of June 30, 2024 (14,253) 1,066 (13,187) (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) net of taxes of $123 million and $(70) million in 2024 and 2023, respectively. Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) (millions of dollars) Three Months Ended Six Months Ended 2024 2023 2024 2023 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) (22) (6) (34) (14) Income Tax (Expense)/Credit For Components of Other Comprehensive Income (millions of dollars) Three Months Ended Six Months Ended 2024 2023 2024 2023 Foreign exchange translation adjustment 69 85 (6) 133 Postretirement benefits reserves adjustment (excluding amortization) (10) 20 (6) 31 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (5) 1 (8) (1) Total 54 106 (20) 163 |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2024 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Earnings per common share Three Months Ended Six Months Ended 2024 2023 2024 2023 Net income (loss) attributable to ExxonMobil (millions of dollars) 9,240 7,880 17,460 19,310 Weighted-average number of common shares outstanding (millions of shares) (1) 4,317 4,066 4,158 4,084 Earnings (loss) per common share (dollars) (2) 2.14 1.94 4.20 4.73 Dividends paid per common share (dollars) 0.95 0.91 1.90 1.82 (1) Includes restricted shares not vested as well as 545 million shares issued for the Pioneer merger on May 3, 2024. (2) 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 | 6 Months Ended |
Jun. 30, 2024 | |
Retirement Benefits [Abstract] | |
Pension and Other Postretirement Benefits | Pension and Other Postretirement Benefits (millions of dollars) Three Months Ended Six Months Ended 2024 2023 2024 2023 Components of net benefit cost Pension Benefits - U.S. Service cost 117 122 230 242 Interest cost 168 165 336 331 Expected return on plan assets (181) (133) (362) (266) Amortization of actuarial loss/(gain) 21 21 42 42 Amortization of prior service cost (8) (7) (16) (14) Net pension enhancement and curtailment/settlement cost 14 7 17 15 Net benefit cost 131 175 247 350 Pension Benefits - Non-U.S. Service cost 86 81 169 163 Interest cost 198 232 425 466 Expected return on plan assets (230) (172) (491) (346) Amortization of actuarial loss/(gain) 24 14 49 28 Amortization of prior service cost 12 13 25 25 Net benefit cost 90 168 177 336 Other Postretirement Benefits Service cost 19 20 37 40 Interest cost 62 69 125 139 Expected return on plan assets (5) (3) (10) (7) Amortization of actuarial loss/(gain) (26) (31) (52) (61) Amortization of prior service cost (15) (11) (31) (21) Net benefit cost 35 44 69 90 |
Financial Instruments and Deriv
Financial Instruments and Derivatives | 6 Months Ended |
Jun. 30, 2024 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments and Derivatives | Financial Instruments and Derivatives The estimated fair value of financial instruments and derivatives at June 30, 2024 and December 31, 2023, and the related hierarchy level for the fair value measurement was as follows: June 30, 2024 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) 4,790 1,187 — 5,977 (5,510) (24) — 443 Advances to/receivables from equity companies (2)(6) — 2,475 4,206 6,681 — — 476 7,157 Other long-term financial assets (3) 1,400 — 1,515 2,915 — — 237 3,152 Liabilities Derivative liabilities (4) 4,996 1,457 — 6,453 (5,510) (230) — 713 Long-term debt (5) 28,874 1,469 — 30,343 — — 4,063 34,406 Long-term obligations to equity companies (6) — — 1,680 1,680 — — (68) 1,612 Other long-term financial liabilities (7) — — 516 516 — — 49 565 December 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) 4,544 1,731 — 6,275 (5,177) (528) — 570 Advances to/receivables from equity companies (2)(6) — 2,517 4,491 7,008 — — 519 7,527 Other long-term financial assets (3) 1,389 — 944 2,333 — — 202 2,535 Liabilities Derivative liabilities (4) 4,056 1,608 — 5,664 (5,177) (40) — 447 Long-term debt (5) 30,556 2,004 — 32,560 — — 3,102 35,662 Long-term obligations to equity companies (6) — — 1,896 1,896 — — (92) 1,804 Other long-term financial liabilities (7) — — 697 697 — — 45 742 (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 June 30, 2024 and December 31, 2023, respectively, the Corporation had $675 million and $800 million of collateral under master netting arrangements not offset against the derivatives on the Condensed 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 June 30, 2024, the Corporation has designated $3.2 billion of its Euro-denominated 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 $237 million and undrawn long-term committed lines of credit of $1,795 million as of second quarter 2024. 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" and in the Consolidated Statement of Cash Flows in “Cash Flows from Operating Activities”. 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 June 30, 2024 and December 31, 2023, or results of operations for the periods ended June 30, 2024 and 2023. 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 June 30, 2024 and December 31, 2023, was as follows: (millions) June 30, 2024 December 31, 2023 Crude oil (barrels) 6 (7) Petroleum products (barrels) (44) (43) Natural gas (MMBTUs) (568) (560) 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 Six Months Ended 2024 2023 2024 2023 Sales and other operating revenue (103) 332 (895) 983 Crude oil and product purchases (5) 5 (2) (20) Total (108) 337 (897) 963 |
Disclosures about Segments and
Disclosures about Segments and Related Information | 6 Months Ended |
Jun. 30, 2024 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Disclosures about Segments and Related Information | Disclosures about Segments and Related Information (millions of dollars) Three Months Ended Six Months Ended 2024 2023 2024 2023 Earnings (Loss) After Income Tax Upstream United States 2,430 920 3,484 2,552 Non-U.S. 4,644 3,657 9,250 8,482 Energy Products United States 450 1,528 1,286 3,438 Non-U.S. 496 782 1,036 3,055 Chemical Products United States 526 486 1,030 810 Non-U.S. 253 342 534 389 Specialty Products United States 447 373 851 824 Non-U.S. 304 298 661 621 Corporate and Financing (310) (506) (672) (861) Corporate total 9,240 7,880 17,460 19,310 Sales and Other Operating Revenue Upstream United States 6,729 1,673 8,919 4,443 Non-U.S. 3,317 3,739 6,843 9,126 Energy Products United States 26,415 26,128 51,218 51,052 Non-U.S. 43,014 38,945 82,423 78,921 Chemical Products United States 2,213 1,992 4,407 4,021 Non-U.S. 3,620 3,678 7,266 7,370 Specialty Products United States 1,538 1,542 3,007 3,110 Non-U.S. 3,115 3,095 6,265 6,384 Corporate and Financing 25 3 49 12 Corporate total 89,986 80,795 170,397 164,439 Intersegment Revenue Upstream United States 5,545 5,044 11,533 10,000 Non-U.S. 11,043 8,412 21,023 17,811 Energy Products United States 6,537 5,074 13,095 10,525 Non-U.S. 6,395 6,988 13,147 13,957 Chemical Products United States 1,950 2,084 3,815 3,872 Non-U.S. 998 977 2,023 1,754 Specialty Products United States 634 684 1,289 1,364 Non-U.S. 151 169 315 268 Corporate and Financing 71 64 150 128 Geographic Sales and Other Operating Revenue (millions of dollars) Three Months Ended Six Months Ended 2024 2023 2024 2023 United States 36,895 31,335 67,551 62,626 Non-U.S. 53,091 49,460 102,846 101,813 Total 89,986 80,795 170,397 164,439 Significant Non-U.S. revenue sources include: (1) Canada 8,126 6,825 15,182 13,546 United Kingdom 5,036 5,242 10,196 12,253 Singapore 3,985 3,758 8,003 7,489 France 3,512 3,494 6,985 6,978 Australia 2,450 2,392 4,875 4,820 Germany 2,448 2,256 4,795 4,549 Belgium 2,302 2,410 4,709 5,059 (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 include 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 Six Months Ended 2024 2023 2024 2023 Revenue from contracts with customers 64,181 63,322 122,600 127,626 Revenue outside the scope of ASC 606 25,805 17,473 47,797 36,813 Total 89,986 80,795 170,397 164,439 |
Divestment Activities
Divestment Activities | 6 Months Ended |
Jun. 30, 2024 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Divestment Activities | Divestment Activities Through June 30, 2024, the Corporation realized proceeds of approximately $1.6 billion and net after-tax earnings of $0.4 billion from its divestment activities. This included the sale of the Santa Ynez Unit and associated facilities in California, certain conventional and unconventional assets in the United States, as well as other smaller divestments. In 2023, the Corporation realized proceeds of approximately $4.1 billion and recognized net after-tax earnings of approximately $0.6 billion from its divestment activities. This included the sale of the Aera Energy joint venture, Esso Thailand Ltd., the Billings Refinery, certain unconventional assets in the United States, as well as other smaller divestments. In February 2022, the Corporation signed an agreement with Seplat Energy Offshore Limited for the sale of Mobil Producing Nigeria Unlimited. The agreement is subject to certain conditions precedent and government approvals. In mid-2022, a Nigerian court issued an order to halt transition activities and enter into arbitration with the Nigerian National Petroleum Company. In June 2024, the court order was lifted and arbitration suspended. The closing date and any loss on sale will depend on resolution of the conditions precedent and government approvals. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Pay vs Performance Disclosure | ||||
Earnings (Loss) After Income Tax | $ 9,240 | $ 7,880 | $ 17,460 | $ 19,310 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Jun. 30, 2024 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Basis of Financial Statement _2
Basis of Financial Statement Preparation (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Basis Of Financial Statement Preparation [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. |
Pioneer Natural Resources Mer_2
Pioneer Natural Resources Merger (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the provisional fair values of the assets acquired and liabilities assumed. (billions of dollars) Pioneer Current assets (1) 3 Other non-current assets 1 Property, plant & equipment (2) 84 Total identifiable assets acquired 88 Current liabilities (1) 3 Long-term debt (3) 5 Deferred income tax liabilities (4) 16 Other non-current liabilities 2 Total liabilities assumed 26 Net identifiable assets acquired 62 Goodwill (5) 1 Net assets (6) 63 (1) Current assets and current liabilities consist primarily of accounts receivable and payable, with their respective fair values approximating historical values given their short-term duration, expectation of insignificant bad debt expense, and our credit rating. (2) Property, plant and equipment was preliminarily valued using the income approach. Significant inputs and assumptions used in the income approach included estimates for commodity prices, future oil and gas production profiles, operating expenses, capital expenditures, and a risk-adjusted discount rate. Collectively, these inputs are Level 3 inputs. (3) Long-term debt was valued using market prices as of the acquisition date, which reflects the use of Level 1 inputs. (4) Deferred income taxes represent the tax effects of differences in the tax basis and acquisition date fair values of assets acquired and liabilities assumed. (5) Goodwill was allocated to the Upstream segment. (6) Provisional fair value measurements were made for assets acquired and liabilities assumed. Adjustments to those measurements may be made in subsequent periods, up to one year from the date of acquisition, as we continue to evaluate the information necessary to complete the analysis. |
Schedule of Debt Instruments | Debt Assumed in the Merger The following table presents long-term debt assumed at closing: (millions of dollars) Par Value Fair Value 0.250% Convertible Senior Notes due May 2025 (1) 450 1,327 1.125% Senior Notes due January 2026 750 699 5.100% Senior Notes due March 2026 1,100 1,096 7.200% Senior Notes due January 2028 241 252 4.125% Senior Notes due February 2028 138 130 1.900% Senior Notes due August 2030 1,100 914 2.150% Senior Notes due January 2031 1,000 832 (1) In June 2024, the Corporation redeemed in full all of the Convertible Senior Notes assumed from Pioneer for an amount consistent with the acquisition date fair value. |
Actual and Pro Forma Impact of Merger | Actual and Pro Forma Impact of Merger The following table presents revenues and earnings for Pioneer since the acquisition date (May 3, 2024), for the periods presented: (millions of dollars) Three Months Ended Six Months Ended Sales and other operating revenues 4,372 4,372 Net income (loss) attributable to ExxonMobil 398 398 The following table presents unaudited pro forma information for the Corporation as if the merger with Pioneer had occurred at the beginning of January 1, 2023: Unaudited (millions of dollars) Three Months Ended Six Months Ended 2024 2023 2024 2023 Sales and other operating revenues 92,167 86,076 178,557 175,425 Net income (loss) attributable to ExxonMobil 9,265 8,577 18,256 20,663 |
Litigation and Other Continge_2
Litigation and Other Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Loss Contingency [Abstract] | |
Schedule Of Guarantees | June 30, 2024 (millions of dollars) Equity Company Obligations (1) Other Third-Party Obligations Total Guarantees Debt-related 1,070 135 1,205 Other 678 5,896 6,574 Total 1,748 6,031 7,779 (1) ExxonMobil share |
Other Comprehensive Income In_2
Other Comprehensive Income Information (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
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 Postretirement Total Balance as of December 31, 2022 (14,591) 1,321 (13,270) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) 570 35 605 Amounts reclassified from accumulated other comprehensive income — 8 8 Total change in accumulated other comprehensive income 570 43 613 Balance as of June 30, 2023 (14,021) 1,364 (12,657) Balance as of December 31, 2023 (13,056) 1,067 (11,989) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) (1,197) (21) (1,218) Amounts reclassified from accumulated other comprehensive income — 20 20 Total change in accumulated other comprehensive income (1,197) (1) (1,198) Balance as of June 30, 2024 (14,253) 1,066 (13,187) (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) net of taxes of $123 million and $(70) million in 2024 and 2023, 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 Six Months Ended 2024 2023 2024 2023 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) (22) (6) (34) (14) |
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 Six Months Ended 2024 2023 2024 2023 Foreign exchange translation adjustment 69 85 (6) 133 Postretirement benefits reserves adjustment (excluding amortization) (10) 20 (6) 31 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (5) 1 (8) (1) Total 54 106 (20) 163 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Computation | Earnings per common share Three Months Ended Six Months Ended 2024 2023 2024 2023 Net income (loss) attributable to ExxonMobil (millions of dollars) 9,240 7,880 17,460 19,310 Weighted-average number of common shares outstanding (millions of shares) (1) 4,317 4,066 4,158 4,084 Earnings (loss) per common share (dollars) (2) 2.14 1.94 4.20 4.73 Dividends paid per common share (dollars) 0.95 0.91 1.90 1.82 (1) Includes restricted shares not vested as well as 545 million shares issued for the Pioneer merger on May 3, 2024. (2) 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) | 6 Months Ended |
Jun. 30, 2024 | |
Retirement Benefits [Abstract] | |
Pension And Other Postretirement Benefits | (millions of dollars) Three Months Ended Six Months Ended 2024 2023 2024 2023 Components of net benefit cost Pension Benefits - U.S. Service cost 117 122 230 242 Interest cost 168 165 336 331 Expected return on plan assets (181) (133) (362) (266) Amortization of actuarial loss/(gain) 21 21 42 42 Amortization of prior service cost (8) (7) (16) (14) Net pension enhancement and curtailment/settlement cost 14 7 17 15 Net benefit cost 131 175 247 350 Pension Benefits - Non-U.S. Service cost 86 81 169 163 Interest cost 198 232 425 466 Expected return on plan assets (230) (172) (491) (346) Amortization of actuarial loss/(gain) 24 14 49 28 Amortization of prior service cost 12 13 25 25 Net benefit cost 90 168 177 336 Other Postretirement Benefits Service cost 19 20 37 40 Interest cost 62 69 125 139 Expected return on plan assets (5) (3) (10) (7) Amortization of actuarial loss/(gain) (26) (31) (52) (61) Amortization of prior service cost (15) (11) (31) (21) Net benefit cost 35 44 69 90 |
Financial Instruments and Der_2
Financial Instruments and Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments | The estimated fair value of financial instruments and derivatives at June 30, 2024 and December 31, 2023, and the related hierarchy level for the fair value measurement was as follows: June 30, 2024 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) 4,790 1,187 — 5,977 (5,510) (24) — 443 Advances to/receivables from equity companies (2)(6) — 2,475 4,206 6,681 — — 476 7,157 Other long-term financial assets (3) 1,400 — 1,515 2,915 — — 237 3,152 Liabilities Derivative liabilities (4) 4,996 1,457 — 6,453 (5,510) (230) — 713 Long-term debt (5) 28,874 1,469 — 30,343 — — 4,063 34,406 Long-term obligations to equity companies (6) — — 1,680 1,680 — — (68) 1,612 Other long-term financial liabilities (7) — — 516 516 — — 49 565 December 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) 4,544 1,731 — 6,275 (5,177) (528) — 570 Advances to/receivables from equity companies (2)(6) — 2,517 4,491 7,008 — — 519 7,527 Other long-term financial assets (3) 1,389 — 944 2,333 — — 202 2,535 Liabilities Derivative liabilities (4) 4,056 1,608 — 5,664 (5,177) (40) — 447 Long-term debt (5) 30,556 2,004 — 32,560 — — 3,102 35,662 Long-term obligations to equity companies (6) — — 1,896 1,896 — — (92) 1,804 Other long-term financial liabilities (7) — — 697 697 — — 45 742 (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 June 30, 2024 and December 31, 2023, was as follows: (millions) June 30, 2024 December 31, 2023 Crude oil (barrels) 6 (7) Petroleum products (barrels) (44) (43) Natural gas (MMBTUs) (568) (560) |
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 Six Months Ended 2024 2023 2024 2023 Sales and other operating revenue (103) 332 (895) 983 Crude oil and product purchases (5) 5 (2) (20) Total (108) 337 (897) 963 |
Disclosures about Segments an_2
Disclosures about Segments and Related Information (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Disclosures about Segments and Related Information | (millions of dollars) Three Months Ended Six Months Ended 2024 2023 2024 2023 Earnings (Loss) After Income Tax Upstream United States 2,430 920 3,484 2,552 Non-U.S. 4,644 3,657 9,250 8,482 Energy Products United States 450 1,528 1,286 3,438 Non-U.S. 496 782 1,036 3,055 Chemical Products United States 526 486 1,030 810 Non-U.S. 253 342 534 389 Specialty Products United States 447 373 851 824 Non-U.S. 304 298 661 621 Corporate and Financing (310) (506) (672) (861) Corporate total 9,240 7,880 17,460 19,310 Sales and Other Operating Revenue Upstream United States 6,729 1,673 8,919 4,443 Non-U.S. 3,317 3,739 6,843 9,126 Energy Products United States 26,415 26,128 51,218 51,052 Non-U.S. 43,014 38,945 82,423 78,921 Chemical Products United States 2,213 1,992 4,407 4,021 Non-U.S. 3,620 3,678 7,266 7,370 Specialty Products United States 1,538 1,542 3,007 3,110 Non-U.S. 3,115 3,095 6,265 6,384 Corporate and Financing 25 3 49 12 Corporate total 89,986 80,795 170,397 164,439 Intersegment Revenue Upstream United States 5,545 5,044 11,533 10,000 Non-U.S. 11,043 8,412 21,023 17,811 Energy Products United States 6,537 5,074 13,095 10,525 Non-U.S. 6,395 6,988 13,147 13,957 Chemical Products United States 1,950 2,084 3,815 3,872 Non-U.S. 998 977 2,023 1,754 Specialty Products United States 634 684 1,289 1,364 Non-U.S. 151 169 315 268 Corporate and Financing 71 64 150 128 |
Geographic Sales and Other Operating Revenue | Geographic Sales and Other Operating Revenue (millions of dollars) Three Months Ended Six Months Ended 2024 2023 2024 2023 United States 36,895 31,335 67,551 62,626 Non-U.S. 53,091 49,460 102,846 101,813 Total 89,986 80,795 170,397 164,439 Significant Non-U.S. revenue sources include: (1) Canada 8,126 6,825 15,182 13,546 United Kingdom 5,036 5,242 10,196 12,253 Singapore 3,985 3,758 8,003 7,489 France 3,512 3,494 6,985 6,978 Australia 2,450 2,392 4,875 4,820 Germany 2,448 2,256 4,795 4,549 Belgium 2,302 2,410 4,709 5,059 (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 Six Months Ended 2024 2023 2024 2023 Revenue from contracts with customers 64,181 63,322 122,600 127,626 Revenue outside the scope of ASC 606 25,805 17,473 47,797 36,813 Total 89,986 80,795 170,397 164,439 |
Pioneer Natural Resources Mer_3
Pioneer Natural Resources Merger (Narrative) (Details) - Pioneer Natural Resources Merger a in Thousands, shares in Millions, Boe in Billions, $ in Billions | May 03, 2024 USD ($) a Boe shares |
Pioneer natural resources merger [Line Items] | |
Area of land | a | 850 |
Proved developed and undeveloped reserves in excess of, net (energy) (Barrel of oil equivalent) | Boe | 2 |
Equity interests issued or issuable, number of shares (in shares) | shares | 545 |
Business combination, consideration transferred, equity interests issued and issuable | $ 63 |
Business combination, consideration transferred, liabilities incurred | $ 5 |
Pioneer Natural Resources Mer_4
Pioneer Natural Resources Merger (Net Asset Acquired) (Details) - Pioneer Natural Resources Merger $ in Billions | May 03, 2024 USD ($) |
Business acquisition [Line Items] | |
Current assets | $ 3 |
Other non-current assets | 1 |
Property, plant, and equipment | 84 |
Total identifiable assets acquired | 88 |
Current liabilities | 3 |
Long-term debt | 5 |
Deferred income tax liabilities | 16 |
Other non-current liabilities | 2 |
Total liabilities assumed | 26 |
Net identifiable assets acquired | 62 |
Goodwill | 1 |
Net assets | $ 63 |
Pioneer Natural Resources Mer_5
Pioneer Natural Resources Merger (Debt Assumed) (Details) - Pioneer Natural Resources Merger - USD ($) $ in Millions | May 03, 2024 | May 02, 2024 |
0.250% Convertible Senior Notes due May 2025 | ||
Business acquisition [Line Items] | ||
Par Value | $ 450 | |
Fair Value | $ 1,327 | |
Interest rate | 0.25% | |
1.125% Senior Notes due January 2026 | ||
Business acquisition [Line Items] | ||
Par Value | $ 750 | |
Fair Value | 699 | |
Interest rate | 1.125% | |
5.100% Senior Notes due March 2026 | ||
Business acquisition [Line Items] | ||
Par Value | $ 1,100 | |
Fair Value | 1,096 | |
Interest rate | 5.10% | |
7.200% Senior Notes due January 2028 | ||
Business acquisition [Line Items] | ||
Par Value | $ 241 | |
Fair Value | 252 | |
Interest rate | 7.20% | |
4.125% Senior Notes due February 2028 | ||
Business acquisition [Line Items] | ||
Par Value | $ 138 | |
Fair Value | 130 | |
Interest rate | 4.125% | |
1.900% Senior Notes due August 2030 | ||
Business acquisition [Line Items] | ||
Par Value | $ 1,100 | |
Fair Value | 914 | |
Interest rate | 1.90% | |
2.150% Senior Notes due January 2031 | ||
Business acquisition [Line Items] | ||
Par Value | $ 1,000 | |
Fair Value | $ 832 | |
Interest rate | 2.15% |
Pioneer Natural Resources Mer_6
Pioneer Natural Resources Merger (Actual and Pro Forma) (Details) - Pioneer Natural Resources Merger - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2024 | Jun. 30, 2024 | |
Business acquisition [Line Items] | ||
Sales and other operating revenues | $ 4,372 | $ 4,372 |
Net income (loss) attributable to ExxonMobil | $ 398 | $ 398 |
Pioneer Natural Resources Mer_7
Pioneer Natural Resources Merger (Unaudited Pro Forma) (Details) - Pioneer Natural Resources Merger - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Business acquisition [Line Items] | ||||
Sales and other operating revenues | $ 92,167 | $ 86,076 | $ 178,557 | $ 175,425 |
Net income (loss) attributable to ExxonMobil | $ 9,265 | $ 8,577 | $ 18,256 | $ 20,663 |
Litigation and Other Continge_3
Litigation and Other Contingencies (Schedule Of Guarantees) (Details) $ in Millions | Jun. 30, 2024 USD ($) |
Litigation and other contingencies [Line Items] | |
Guarantees | $ 7,779 |
Equity Company Obligations | |
Litigation and other contingencies [Line Items] | |
Guarantees | 1,748 |
Other Third-Party Obligations | |
Litigation and other contingencies [Line Items] | |
Guarantees | 6,031 |
Debt-related | |
Litigation and other contingencies [Line Items] | |
Guarantees | 1,205 |
Debt-related | Equity Company Obligations | |
Litigation and other contingencies [Line Items] | |
Guarantees | 1,070 |
Debt-related | Other Third-Party Obligations | |
Litigation and other contingencies [Line Items] | |
Guarantees | 135 |
Other | |
Litigation and other contingencies [Line Items] | |
Guarantees | 6,574 |
Other | Equity Company Obligations | |
Litigation and other contingencies [Line Items] | |
Guarantees | 678 |
Other | Other Third-Party Obligations | |
Litigation and other contingencies [Line Items] | |
Guarantees | $ 5,896 |
Other Comprehensive Income In_3
Other Comprehensive Income Information (Schedule Of Accumulated Other Comprehensive Income Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Cumulative Translation Adjustment Summary [Roll Forward] | ||||
Current period change excluding amounts reclassified from accumulated other comprehensive income | $ (115) | $ 514 | $ (1,382) | $ 687 |
Postretirement Benefits Reserves Adjustment [Roll Forward] | ||||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 29 | 17 | (13) | 36 |
Amounts reclassified from accumulated other comprehensive income | 17 | 7 | 26 | 13 |
Accumulated Other Comprehensive Income [Roll Forward] | ||||
Balance at beginning of period | (11,989) | |||
Balance at end of period | (13,187) | (13,187) | ||
Exxon Mobil Corporation Share After Noncontrolling Interest | ||||
Cumulative Translation Adjustment Summary [Roll Forward] | ||||
Beginning Balance, Cumulative Foreign Exchange Translation Adjustment | (13,056) | (14,591) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income | (1,197) | 570 | ||
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | ||
Total change in accumulated other comprehensive income | (1,197) | 570 | ||
Ending Balance, Cumulative Foreign Exchange Translation Adjustment | (14,253) | (14,021) | (14,253) | (14,021) |
Net investment hedge gain/(loss), net of taxes | 123 | (70) | ||
Postretirement Benefits Reserves Adjustment [Roll Forward] | ||||
Beginning Balance, Postretirement Benefits Reserves Adjustment | 1,067 | 1,321 | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | (21) | 35 | ||
Amounts reclassified from accumulated other comprehensive income | 20 | 8 | ||
Total change in accumulated other comprehensive income | (1) | 43 | ||
Ending Balance, Postretirement Benefits Reserves Adjustment | 1,066 | 1,364 | 1,066 | 1,364 |
Accumulated Other Comprehensive Income [Roll Forward] | ||||
Balance at beginning of period | (11,989) | (13,270) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Total | (1,218) | 605 | ||
Amounts reclassified from accumulated other comprehensive income | 20 | 8 | ||
Total change in accumulated other comprehensive income | (1,198) | 613 | ||
Balance at end of period | $ (13,187) | $ (12,657) | $ (13,187) | $ (12,657) |
Other Comprehensive Income In_4
Other Comprehensive Income Information (Amounts Reclassified Out Of Acc Other Comp Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
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) | $ (22) | $ (6) | $ (34) | $ (14) |
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 | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Other Comprehensive Income Information Tax [Abstract] | ||||
Foreign exchange translation adjustment | $ 69 | $ 85 | $ (6) | $ 133 |
Postretirement benefits reserves adjustment (excluding amortization) | (10) | 20 | (6) | 31 |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | (5) | 1 | (8) | (1) |
Total | $ 54 | $ 106 | $ (20) | $ 163 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Earnings Per Share [Abstract] | ||||
Net income (loss) attributable to ExxonMobil | $ 9,240 | $ 7,880 | $ 17,460 | $ 19,310 |
Weighted average number of common shares outstanding (in shares) | 4,317 | 4,066 | 4,158 | 4,084 |
Earnings (loss) per common share, basic (in dollars per share) | $ 2.14 | $ 1.94 | $ 4.20 | $ 4.73 |
Earnings (loss) per common share, diluted (in dollars per share) | 2.14 | 1.94 | 4.20 | 4.73 |
Dividends paid per common share (in dollars per share) | $ 0.95 | $ 0.91 | $ 1.90 | $ 1.82 |
Earnings Per Share (Table Narra
Earnings Per Share (Table Narrative) (Details) shares in Millions | May 03, 2024 shares |
Pioneer Natural Resources Merger | |
Business acquisition [Line Items] | |
Equity interests issued or issuable, number of shares (in shares) | 545 |
Pension and Other Postretirem_3
Pension and Other Postretirement Benefits (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Other Postretirement Benefits | ||||
Service cost | $ 19 | $ 20 | $ 37 | $ 40 |
Interest cost | 62 | 69 | 125 | 139 |
Expected return on plan assets | (5) | (3) | (10) | (7) |
Amortization of actuarial loss/(gain) | (26) | (31) | (52) | (61) |
Amortization of prior service cost | (15) | (11) | (31) | (21) |
Net benefit cost | 35 | 44 | 69 | 90 |
Pension Benefits - U.S. | Pension Plan | ||||
Service cost | 117 | 122 | 230 | 242 |
Interest cost | 168 | 165 | 336 | 331 |
Expected return on plan assets | (181) | (133) | (362) | (266) |
Amortization of actuarial loss/(gain) | 21 | 21 | 42 | 42 |
Amortization of prior service cost | (8) | (7) | (16) | (14) |
Net pension enhancement and curtailment/settlement cost | 14 | 7 | 17 | 15 |
Net benefit cost | 131 | 175 | 247 | 350 |
Pension Benefits - Non-U.S. | Pension Plan | ||||
Service cost | 86 | 81 | 169 | 163 |
Interest cost | 198 | 232 | 425 | 466 |
Expected return on plan assets | (230) | (172) | (491) | (346) |
Amortization of actuarial loss/(gain) | 24 | 14 | 49 | 28 |
Amortization of prior service cost | 12 | 13 | 25 | 25 |
Net benefit cost | $ 90 | $ 168 | $ 177 | $ 336 |
Financial Instruments and Der_3
Financial Instruments and Derivatives (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Total Gross Assets & Liabilities [Domain] | ||
Fair value balance sheet grouping financial statement captions [Line Items] | ||
Derivative assets | $ 5,977 | $ 6,275 |
Advances to/receivables from equity companies | 6,681 | 7,008 |
Other long-term financial assets | 2,915 | 2,333 |
Derivative liabilities | 6,453 | 5,664 |
Long-term debt | 30,343 | 32,560 |
Long-term obligations to equity companies | 1,680 | 1,896 |
Other long-term financial liabilities | $ 516 | $ 697 |
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, Long-term obligations | Accounts payable and accrued liabilities, Long-term obligations |
Effect of Counterparty Netting | ||
Fair value balance sheet grouping financial statement captions [Line Items] | ||
Derivative assets | $ (5,510) | $ (5,177) |
Derivative liabilities | (5,510) | (5,177) |
Effect of Collateral Netting | ||
Fair value balance sheet grouping financial statement captions [Line Items] | ||
Derivative assets | (24) | (528) |
Derivative liabilities | (230) | (40) |
Difference in Carrying Value and Fair Value | ||
Fair value balance sheet grouping financial statement captions [Line Items] | ||
Advances to/receivables from equity companies | 476 | 519 |
Other long-term financial assets | 237 | 202 |
Long-term debt | 4,063 | 3,102 |
Long-term obligations to equity companies | (68) | (92) |
Other long-term financial liabilities | 49 | 45 |
Net Carrying Value | ||
Fair value balance sheet grouping financial statement captions [Line Items] | ||
Derivative assets | 443 | 570 |
Advances to/receivables from equity companies | 7,157 | 7,527 |
Other long-term financial assets | 3,152 | 2,535 |
Derivative liabilities | 713 | 447 |
Long-term debt | 34,406 | 35,662 |
Long-term obligations to equity companies | 1,612 | 1,804 |
Other long-term financial liabilities | 565 | 742 |
Level 1 | ||
Fair value balance sheet grouping financial statement captions [Line Items] | ||
Derivative assets | 4,790 | 4,544 |
Other long-term financial assets | 1,400 | 1,389 |
Derivative liabilities | 4,996 | 4,056 |
Long-term debt | 28,874 | 30,556 |
Level 2 | ||
Fair value balance sheet grouping financial statement captions [Line Items] | ||
Derivative assets | 1,187 | 1,731 |
Advances to/receivables from equity companies | 2,475 | 2,517 |
Derivative liabilities | 1,457 | 1,608 |
Long-term debt | 1,469 | 2,004 |
Level 3 | ||
Fair value balance sheet grouping financial statement captions [Line Items] | ||
Advances to/receivables from equity companies | 4,206 | 4,491 |
Other long-term financial assets | 1,515 | 944 |
Long-term obligations to equity companies | 1,680 | 1,896 |
Other long-term financial liabilities | $ 516 | $ 697 |
Financial Instruments and Der_4
Financial Instruments and Derivatives (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Debt instrument [Line Items] | ||
Initial margin collateral receivable | $ 675 | $ 800 |
Net investment hedge, European business - long-term debt principal | 3,200 | |
Short Term Financing | ||
Debt instrument [Line Items] | ||
Unused credit line | 237 | |
Long Term Financing | ||
Debt instrument [Line Items] | ||
Unused credit line | $ 1,795 |
Financial Instruments and Der_5
Financial Instruments and Derivatives (Balance Sheet) (Details) bbl in Millions, MMBTU in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 MMBTU bbl | Dec. 31, 2023 MMBTU bbl | |
Crude oil (barrels) | Long | ||
Net notional long / short position of derivative instruments bbl | 6 | |
Crude oil (barrels) | Short | ||
Net notional long / short position of derivative instruments bbl | 7 | |
Petroleum products (barrels) | Short | ||
Net notional long / short position of derivative instruments bbl | 44 | 43 |
Natural gas (MMBTUs) | Short | ||
Net notional long / short position of derivative instruments MMBtus | MMBTU | 568 | 560 |
Financial Instruments and Der_6
Financial Instruments and Derivatives (Income Statement) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Realized and Unrealized Before-Tax Gain / (Loss) on Derivative Instruments Recognized in the Consolidated Statement of Income | ||||
Revenues | $ 93,060 | $ 82,914 | $ 176,143 | $ 169,478 |
Crude oil and product purchases | (54,199) | (47,598) | (101,800) | (93,601) |
Not Designated as Hedging Instrument | ||||
Realized and Unrealized Before-Tax Gain / (Loss) on Derivative Instruments Recognized in the Consolidated Statement of Income | ||||
Revenues | (103) | 332 | (895) | 983 |
Crude oil and product purchases | (5) | 5 | (2) | (20) |
Total | $ (108) | $ 337 | $ (897) | $ 963 |
Disclosures about Segments an_3
Disclosures about Segments and Related Information (Schedule of Segments and Related Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Segment reporting information [Line Items] | ||||
Earnings (Loss) After Income Tax | $ 9,240 | $ 7,880 | $ 17,460 | $ 19,310 |
Revenues | 93,060 | 82,914 | 176,143 | 169,478 |
Sales and other operating revenue | ||||
Segment reporting information [Line Items] | ||||
Revenues | 89,986 | 80,795 | 170,397 | 164,439 |
United States | Sales and other operating revenue | ||||
Segment reporting information [Line Items] | ||||
Revenues | 36,895 | 31,335 | 67,551 | 62,626 |
Non-U.S. | Sales and other operating revenue | ||||
Segment reporting information [Line Items] | ||||
Revenues | 53,091 | 49,460 | 102,846 | 101,813 |
Upstream | United States | ||||
Segment reporting information [Line Items] | ||||
Earnings (Loss) After Income Tax | 2,430 | 920 | 3,484 | 2,552 |
Intersegment Revenue | 5,545 | 5,044 | 11,533 | 10,000 |
Upstream | United States | Sales and other operating revenue | ||||
Segment reporting information [Line Items] | ||||
Revenues | 6,729 | 1,673 | 8,919 | 4,443 |
Upstream | Non-U.S. | ||||
Segment reporting information [Line Items] | ||||
Earnings (Loss) After Income Tax | 4,644 | 3,657 | 9,250 | 8,482 |
Intersegment Revenue | 11,043 | 8,412 | 21,023 | 17,811 |
Upstream | Non-U.S. | Sales and other operating revenue | ||||
Segment reporting information [Line Items] | ||||
Revenues | 3,317 | 3,739 | 6,843 | 9,126 |
Energy Products | United States | ||||
Segment reporting information [Line Items] | ||||
Earnings (Loss) After Income Tax | 450 | 1,528 | 1,286 | 3,438 |
Intersegment Revenue | 6,537 | 5,074 | 13,095 | 10,525 |
Energy Products | United States | Sales and other operating revenue | ||||
Segment reporting information [Line Items] | ||||
Revenues | 26,415 | 26,128 | 51,218 | 51,052 |
Energy Products | Non-U.S. | ||||
Segment reporting information [Line Items] | ||||
Earnings (Loss) After Income Tax | 496 | 782 | 1,036 | 3,055 |
Intersegment Revenue | 6,395 | 6,988 | 13,147 | 13,957 |
Energy Products | Non-U.S. | Sales and other operating revenue | ||||
Segment reporting information [Line Items] | ||||
Revenues | 43,014 | 38,945 | 82,423 | 78,921 |
Chemical Products | United States | ||||
Segment reporting information [Line Items] | ||||
Earnings (Loss) After Income Tax | 526 | 486 | 1,030 | 810 |
Intersegment Revenue | 1,950 | 2,084 | 3,815 | 3,872 |
Chemical Products | United States | Sales and other operating revenue | ||||
Segment reporting information [Line Items] | ||||
Revenues | 2,213 | 1,992 | 4,407 | 4,021 |
Chemical Products | Non-U.S. | ||||
Segment reporting information [Line Items] | ||||
Earnings (Loss) After Income Tax | 253 | 342 | 534 | 389 |
Intersegment Revenue | 998 | 977 | 2,023 | 1,754 |
Chemical Products | Non-U.S. | Sales and other operating revenue | ||||
Segment reporting information [Line Items] | ||||
Revenues | 3,620 | 3,678 | 7,266 | 7,370 |
Specialty Products | United States | ||||
Segment reporting information [Line Items] | ||||
Earnings (Loss) After Income Tax | 447 | 373 | 851 | 824 |
Intersegment Revenue | 634 | 684 | 1,289 | 1,364 |
Specialty Products | United States | Sales and other operating revenue | ||||
Segment reporting information [Line Items] | ||||
Revenues | 1,538 | 1,542 | 3,007 | 3,110 |
Specialty Products | Non-U.S. | ||||
Segment reporting information [Line Items] | ||||
Earnings (Loss) After Income Tax | 304 | 298 | 661 | 621 |
Intersegment Revenue | 151 | 169 | 315 | 268 |
Specialty Products | Non-U.S. | Sales and other operating revenue | ||||
Segment reporting information [Line Items] | ||||
Revenues | 3,115 | 3,095 | 6,265 | 6,384 |
Corporate and Financing | ||||
Segment reporting information [Line Items] | ||||
Earnings (Loss) After Income Tax | (310) | (506) | (672) | (861) |
Intersegment Revenue | 71 | 64 | 150 | 128 |
Corporate and Financing | Sales and other operating revenue | ||||
Segment reporting information [Line Items] | ||||
Revenues | $ 25 | $ 3 | $ 49 | $ 12 |
Disclosures about Segments an_4
Disclosures about Segments and Related Information (Schedule of Geographic Sales And Other Operating Revenue) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Segment reporting revenue reconciling item [Line Items] | ||||
Revenues | $ 93,060 | $ 82,914 | $ 176,143 | $ 169,478 |
Sales and other operating revenue | ||||
Segment reporting revenue reconciling item [Line Items] | ||||
Revenues | 89,986 | 80,795 | 170,397 | 164,439 |
United States | Sales and other operating revenue | ||||
Segment reporting revenue reconciling item [Line Items] | ||||
Revenues | 36,895 | 31,335 | 67,551 | 62,626 |
Non-U.S. | Sales and other operating revenue | ||||
Segment reporting revenue reconciling item [Line Items] | ||||
Revenues | 53,091 | 49,460 | 102,846 | 101,813 |
Canada | Sales and other operating revenue | ||||
Segment reporting revenue reconciling item [Line Items] | ||||
Revenues | 8,126 | 6,825 | 15,182 | 13,546 |
United Kingdom | Sales and other operating revenue | ||||
Segment reporting revenue reconciling item [Line Items] | ||||
Revenues | 5,036 | 5,242 | 10,196 | 12,253 |
Singapore | Sales and other operating revenue | ||||
Segment reporting revenue reconciling item [Line Items] | ||||
Revenues | 3,985 | 3,758 | 8,003 | 7,489 |
France | Sales and other operating revenue | ||||
Segment reporting revenue reconciling item [Line Items] | ||||
Revenues | 3,512 | 3,494 | 6,985 | 6,978 |
Australia | Sales and other operating revenue | ||||
Segment reporting revenue reconciling item [Line Items] | ||||
Revenues | 2,450 | 2,392 | 4,875 | 4,820 |
Germany | Sales and other operating revenue | ||||
Segment reporting revenue reconciling item [Line Items] | ||||
Revenues | 2,448 | 2,256 | 4,795 | 4,549 |
Belgium | Sales and other operating revenue | ||||
Segment reporting revenue reconciling item [Line Items] | ||||
Revenues | $ 2,302 | $ 2,410 | $ 4,709 | $ 5,059 |
Disclosures about Segments an_5
Disclosures about Segments and Related Information (Sales and Other Operating Revenues) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Disaggregation of revenue [Line Items] | ||||
Revenues | $ 93,060 | $ 82,914 | $ 176,143 | $ 169,478 |
Sales and other operating revenue | ||||
Disaggregation of revenue [Line Items] | ||||
Revenue from contracts with customers | 64,181 | 63,322 | 122,600 | 127,626 |
Revenue outside the scope of ASC 606 | 25,805 | 17,473 | 47,797 | 36,813 |
Revenues | $ 89,986 | $ 80,795 | $ 170,397 | $ 164,439 |
Divestment Activities (Narrativ
Divestment Activities (Narrative) (Details) - Disposal Group, Disposed of by Sale - USD ($) $ in Billions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 | Dec. 31, 2023 | |
Income statement, balance sheet and additional disclosures by disposal groups, including discontinued operations [Line Items] | ||
Proceeds from Sale of Productive Assets | $ 1.6 | $ 4.1 |
Disposal Group Not Discontinued Operation Gain Loss On Disposal, After Tax | $ 0.4 | $ 0.6 |