Statement Of Income Alternative
Statement Of Income Alternative (USD $) | |||||||||||||||||||
In Millions, except Per Share data | 3 Months Ended
Sep. 30, 2009 | 3 Months Ended
Sep. 30, 2008 | 9 Months Ended
Sep. 30, 2009 | 9 Months Ended
Sep. 30, 2008 | |||||||||||||||
REVENUES AND OTHER INCOME | |||||||||||||||||||
Sales and other operating revenue | $80,090 | [2] | $132,085 | [2] | $214,385 | [2] | $379,084 | [2] | |||||||||||
Income from equity affiliates | 1,675 | 2,824 | 4,728 | 8,616 | |||||||||||||||
Other income | 495 | 2,828 | 1,632 | 4,963 | [1] | ||||||||||||||
Total revenues and other income | 82,260 | 137,737 | 220,745 | 392,663 | |||||||||||||||
COSTS AND OTHER DEDUCTIONS | |||||||||||||||||||
Crude oil and product purchases | 41,689 | 73,298 | 106,386 | 210,964 | |||||||||||||||
Production and manufacturing expenses | 8,097 | 9,878 | 24,105 | 28,837 | |||||||||||||||
Selling, general and administrative expenses | 3,887 | 3,823 | 10,854 | 12,014 | |||||||||||||||
Depreciation and depletion | 2,927 | 3,008 | 8,724 | 9,202 | |||||||||||||||
Exploration expenses, including dry holes | 495 | 403 | 1,336 | 1,083 | |||||||||||||||
Interest expense | 62 | 318 | 512 | 555 | |||||||||||||||
Sales-based taxes | 6,805 | [2] | 9,327 | [2] | 18,927 | [2] | 27,297 | [2] | |||||||||||
Other taxes and duties | 9,094 | 10,989 | 25,330 | 33,113 | |||||||||||||||
Total costs and other deductions | 73,056 | 111,044 | 196,174 | 323,065 | |||||||||||||||
Income before income taxes | 9,204 | 26,693 | 24,571 | 69,598 | |||||||||||||||
Income taxes | 4,333 | 11,327 | 11,052 | 31,155 | |||||||||||||||
Net income including noncontrolling interests | 4,871 | 15,366 | 13,519 | 38,443 | |||||||||||||||
Net income/(loss) attributable to noncontrolling interests | 141 | 536 | 289 | 1,043 | |||||||||||||||
Net income attributable to ExxonMobil | $4,730 | $14,830 | $13,230 | $37,400 | |||||||||||||||
Earnings per common share (dollars) | 0.98 | 2.86 | 2.72 | 7.13 | |||||||||||||||
Earnings per common share - assuming dilution (dollars) | 0.98 | 2.85 | 2.71 | 7.09 | |||||||||||||||
Dividends per common share (dollars) | 0.42 | 0.4 | 1.24 | 1.15 | |||||||||||||||
[1]Included in the nine months ended September 30, 2008, is a $62 million gain from sale of non-U.S. investment, net of related $143 million of foreign exchange loss. | |||||||||||||||||||
[2]Sales-based taxes included in sales and other operating revenue for the three months ended September 30, 2009, and 2008, were $6,805 million and $9,327 million, respectively, and for the nine months ended September 30, 2009, and 2008, were $18,927 million and $27,297 million, respectively. |
Statement Of Financial Position
Statement Of Financial Position Classified (USD $) | ||
In Millions | 9 Months Ended
Sep. 30, 2009 | 9 Months Ended
Dec. 31, 2008 |
Current assets | ||
Cash and cash equivalents | $12,472 | $31,437 |
Marketable securities | 151 | 570 |
Notes and accounts receivable - net | 26,937 | 24,702 |
Inventories | ||
Crude oil, products and merchandise | 9,860 | 9,331 |
Materials and supplies | 2,725 | 2,315 |
Other current assets | 5,179 | 3,911 |
Total current assets | 57,324 | 72,266 |
Investments, advances and long-term assets | 32,064 | 28,556 |
Property, plant and equipment - net | 132,874 | 121,346 |
Other assets, including intangibles, net | 7,045 | 5,884 |
Total assets | 229,307 | 228,052 |
Current liabilities | ||
Notes and loans payable | 2,418 | 2,400 |
Accounts payable and accrued liabilities | 42,645 | 36,643 |
Income taxes payable | 7,870 | 10,057 |
Total current liabilities | 52,933 | 49,100 |
Long-term debt | 7,185 | 7,025 |
Postretirement benefits reserves | 18,632 | 20,729 |
Deferred income tax liabilities | 23,238 | 19,726 |
Other long-term liabilities | 15,214 | 13,949 |
Total liabilities | 117,202 | 110,529 |
Commitments and contingencies (note 3) | - | - |
EQUITY | ||
Common stock, without par value: Authorized: 9,000 million shares Issued: 8,019 million shares | 5,445 | 5,314 |
Earnings reinvested | 272,879 | 265,680 |
Accumulated other comprehensive income | ||
Cumulative foreign exchange translation adjustment | 4,341 | 1,146 |
Postretirement benefits reserves adjustment | (10,721) | (11,077) |
Common stock held in treasury: 3,272 million shares at September 30, 2009 3,043 million shares at December 31, 2008 | (164,679) | (148,098) |
ExxonMobil share of equity | 107,265 | 112,965 |
Noncontrolling interests | 4,840 | 4,558 |
Total equity | 112,105 | 117,523 |
Total liabilities and equity | $229,307 | $228,052 |
1_Statement Of Financial Positi
Statement Of Financial Position Classified (Parenthetical) (USD $) | ||
Share data in Millions | Sep. 30, 2009
| Dec. 31, 2008
|
Common stock, without par value | $0 | $0 |
Common stock, Authorized | 9,000 | 9,000 |
Common stock, Issued | 8,019 | 8,019 |
Common stock held in treasury, shares | 3,272 | 3,043 |
Statement Of Cash Flows Indirec
Statement Of Cash Flows Indirect (USD $) | ||
In Millions | 9 Months Ended
Sep. 30, 2009 | 9 Months Ended
Sep. 30, 2008 |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income including noncontrolling interests | $13,519 | $38,443 |
Depreciation and depletion | 8,724 | 9,202 |
Changes in operational working capital, excluding cash and debt | (852) | 4,430 |
All other items - net | (1,457) | (2,834) |
Net cash provided by operating activities | 19,934 | 49,241 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Additions to property, plant and equipment | (15,728) | (13,993) |
Sales of subsidiaries, investments, and property, plant and equipment | 1,083 | 4,202 |
Other investing activities - net | (1,352) | (3,081) |
Net cash used in investing activities | (15,997) | (12,872) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Additions to long-term debt | 192 | 177 |
Reductions in long-term debt | (27) | (152) |
Additions/(reductions) in short-term debt - net | (202) | 294 |
Cash dividends to ExxonMobil shareholders | (6,031) | (6,040) |
Cash dividends to noncontrolling interests | (238) | (346) |
Changes in noncontrolling interests | (126) | (319) |
Tax benefits related to stock-based awards | 79 | 162 |
Common stock acquired | (17,331) | (26,889) |
Common stock sold | 296 | 489 |
Net cash used in financing activities | (23,388) | (32,624) |
Effects of exchange rate changes on cash | 486 | (1,052) |
Increase/(decrease) in cash and cash equivalents | (18,965) | 2,693 |
Cash and cash equivalents at beginning of period | 31,437 | 33,981 |
Cash and cash equivalents at end of period | 12,472 | 36,674 |
SUPPLEMENTAL DISCLOSURES | ||
Income taxes paid | 12,142 | 25,194 |
Cash interest paid | $723 | $488 |
1.Basis of Financial Statement
1.Basis of Financial Statement Preparation | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
1.Basis of Financial Statement Preparation | 1. 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 Corporations 2008 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. Subsequent events have been evaluated through November5, 2009, the date the financial statements were issued. The Corporations exploration and production activities are accounted for under the successful efforts method. |
2.Accounting Changes
2.Accounting Changes | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
2.Accounting Changes | 2. Accounting Changes Effective January1, 2009, ExxonMobil adopted the authoritative guidance for fair value measurements as they relate to nonfinancial assets and liabilities that are measured at fair value on a nonrecurring basis. The guidance defines fair value, establishes a framework for measuring fair value when an entity is required to use a fair value measure for recognition or disclosure purposes and expands the disclosures about fair value measures. The adoption did not have a material impact on the Corporations financial statements. The Corporation previously adopted the guidance as it relates to financial assets and liabilities that are measured at fair value and for nonfinancial assets and liabilities that are measured at fair value on a recurring basis. Effective January1, 2009, ExxonMobil adopted the authoritative guidance on consolidation as it relates to noncontrolling interests. The guidance changed the accounting and reporting for minority interests, which were recharacterized as noncontrolling interests and classified as a component of equity. The guidance requires retrospective adoption of the presentation and disclosure requirements for existing minority interests. All other requirements of the guidance will be applied prospectively. The adoption of the guidance did not have a material impact on the Corporations financial statements. Effective January1, 2009, ExxonMobil adopted the authoritative guidance for earnings per share as it relates to determining whether instruments granted in share-based payment transactions are participating securities. The guidance requires that all unvested share-based payment awards that contain nonforfeitable rights to dividends should be included in the basic Earnings Per Share (EPS) calculation. Prior-year EPS numbers have been adjusted retrospectively on a consistent basis with 2009 reporting. This guidance did not affect the consolidated financial position or results of operations. |
3.Litigation and Other Continge
3.Litigation and Other Contingencies | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
3.Litigation and Other Contingencies | 3. 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. 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 materially adverse effect upon the Corporations operations or financial condition. A number of lawsuits, including class actions, were brought in various courts against Exxon Mobil Corporation and certain of its subsidiaries relating to the accidental release of crude oil from the tanker Exxon Valdez in 1989. All the compensatory claims have been resolved and paid. All of the $507.5 million punitive damages award has been paid, except for $70 million which has been withheld pending final resolution of ExxonMobils claim to recover appeal costs. All interest has been paid on the award from the date of the original trial court judgment in 1996 through July1, 2009. After-tax charges of $460 million in 2008 and $140 million in the second quarter of 2009 were taken reflecting the court decisions on punitive damages and interest. Other Contingencies As of September30, 2009 Equity Company Obligations Other Third Party Obligations Total (millions of dollars) Total guarantees $ 6,635 $ 2,252 $ 8,887 The Corporation and certain of its consolidated subsidiaries were contingently liable at September30, 2009, for $8,887 million, primarily relating to guarantees for notes, loans and performance under contracts. Included in this amount were guarantees by consolidated affiliates of $6,635 million, for ExxonMobils share of obligations of certain equity companies. These guarantees are not reasonably likely to have a material effect on the Corporations financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. Additionally, the Corporation and its affiliates have numerous long-term sales and purchase commitments in their various bus |
4.Comprehensive Income
4.Comprehensive Income | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
4.Comprehensive Income | 4. Comprehensive Income ThreeMonthsEnded September30, Nine Months Ended September30, 2009 2008 2009 2008 (millions of dollars) Net income including noncontrolling interests $ 4,871 $ 15,366 $ 13,519 $ 38,443 Other comprehensive income (net of income taxes) Foreign exchange translation adjustment 1,932 (4,410 ) 3,556 (2,808 ) Adjustment for foreign exchange translation loss included in net income 0 0 0 171 Postretirement benefits reserves adjustment (excluding amortization) (156 ) 219 (690 ) (28 ) Amortization of postretirement benefits reserves adjustment included in net periodic benefit costs 338 176 1,042 551 Comprehensive income including noncontrolling interests 6,985 11,351 17,427 36,329 Comprehensive income attributable to noncontrolling interests 386 429 646 979 Comprehensive income attributable to ExxonMobil $ 6,599 $ 10,922 $ 16,781 $ 35,350 |
5.Earnings Per Share
5.Earnings Per Share | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
5.Earnings Per Share | 5. Earnings Per Share ThreeMonthsEnded September30, Nine Months Ended September30, 2009 2008 2009 2008 EARNINGS PER COMMON SHARE Net income attributable to ExxonMobil (millions of dollars) $ 4,730 $ 14,830 $ 13,230 $ 37,400 Weighted average number of common shares outstanding (millions of shares) 4,784 5,149 4,859 5,247 Earnings per common share (dollars) $ 0.98 $ 2.86 $ 2.72 $ 7.13 EARNINGS PER COMMON SHARE - ASSUMING DILUTION Net income attributable to ExxonMobil (millions of dollars) $ 4,730 $ 14,830 $ 13,230 $ 37,400 Weighted average number of common shares outstanding (millions of shares) 4,784 5,149 4,859 5,247 Effect of employee stock-based awards 19 29 19 31 Weighted average number of common shares outstanding - assuming dilution 4,803 5,178 4,878 5,278 Earnings per common share - assuming dilution (dollars) $ 0.98 $ 2.85 $ 2.71 $ 7.09 |
6.Pension and Other Postretirem
6.Pension and Other Postretirement Benefits | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
6.Pension and Other Postretirement Benefits | 6. Pension and Other Postretirement Benefits ThreeMonthsEnded September30, NineMonthsEnded September30, 2009 2008 2009 2008 (millions of dollars) Pension Benefits - U.S. Components of net benefit cost Service cost $ 116 $ 96 $ 325 $ 287 Interest cost 202 181 606 545 Expected return on plan assets (165 ) (228 ) (493 ) (686 ) Amortization of actuarial loss/(gain) and prior service cost 174 60 521 178 Net pension enhancement and curtailment/settlement cost 122 44 364 131 Net benefit cost $ 449 $ 153 $ 1,323 $ 455 Pension Benefits - Non-U.S. Components of net benefit cost Service cost $ 111 $ 107 $ 314 $ 334 Interest cost 287 294 823 900 Expected return on plan assets (227 ) (308 ) (648 ) (943 ) Amortization of actuarial loss/(gain) and prior service cost 184 103 528 313 Net pension enhancement and curtailment/settlement cost 0 0 0 2 Net benefit cost $ 355 $ 196 $ 1,017 $ 606 Other Postretirement Benefits Components of net benefit cost Service cost $ 22 $ 23 $ 72 $ 80 Interest cost 98 92 312 329 Expected return on plan assets (9 ) (13 ) (27 ) (47 ) Amortization of actuarial loss/(gain) and prior service cost 59 61 188 217 Net benefit cost $ 170 $ 163 $ 545 $ 579 |
7.Financial Instruments and Der
7.Financial Instruments and Derivatives | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
7.Financial Instruments and Derivatives | 7. Financial Instruments and Derivatives The fair value of financial instruments is determined by reference to observable market data and other valuation techniques as appropriate. The only category of financial instruments where the difference between fair value and recorded book value is of significance is long-term debt. The estimated fair value of total long-term debt, including capitalized lease obligations, was $7.8 billion and $7.6 billion, at September30, 2009 and December31, 2008, respectively, as compared to recorded book values of $7.2 billion and $7.0 billion at September30, 2009 and December31, 2008, respectively. The estimated fair value of derivatives outstanding and recorded on the balance sheet was a net payable of $4 million and a net receivable of $118 million on September30, 2009 and December31, 2008, respectively. The Corporation would have paid or received this amount from third parties if these derivatives had been settled in the open market based on observable market inputs. The fair value of derivatives outstanding at September30, 2009, is immaterial in relation to total assets of $229 billion or net income attributable to ExxonMobil for the nine months ended September30, 2009, of $13.2 billion. |
8.Disclosures about Segments an
8.Disclosures about Segments and Related Information | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
8.Disclosures about Segments and Related Information | 8. Disclosures about Segments and Related Information Three Months Ended September30, Nine Months Ended September30, 2009 2008 2009 2008 (millions of dollars) EARNINGS AFTER INCOME TAX Upstream United States $ 709 $ 1,879 $ 1,882 $ 5,544 Non-U.S. 3,303 9,092 9,445 24,224 Downstream United States (203 ) 978 134 1,669 Non-U.S. 528 2,035 1,836 4,068 Chemical United States 315 257 477 643 Non-U.S. 561 830 1,116 2,159 All other (483 ) (241 ) (1,660 ) (907 ) Corporate total $ 4,730 $ 14,830 $ 13,230 $ 37,400 SALES AND OTHER OPERATING REVENUE (1) Upstream United States $ 833 $ 1,784 $ 2,407 $ 5,558 Non-U.S. 4,987 8,230 15,264 25,618 Downstream United States 20,568 33,038 54,614 97,562 Non-U.S. 46,112 78,168 123,335 218,352 Chemical United States 2,857 4,011 7,022 11,833 Non-U.S. 4,726 6,851 11,726 20,150 All other 7 3 17 11 Corporate total $ 80,090 $ 132,085 $ 214,385 $ 379,084 (1)Includes sales-based taxes INTERSEGMENT REVENUE Upstream United States $ 1,752 $ 2,604 $ 4,571 $ 8,237 Non-U.S. 9,446 17,160 23,272 49,301 Downstream United States 2,930 4,866 7,167 13,968 Non-U.S. 10,923 19,132 27,327 57,081 Chemical United States 1,980 2,902 5,035 8,507 Non-U.S. 1,941 2,959 4,872 8,061 All other 70 68 213 206 |
9.Accounting for Suspended Expl
9.Accounting for Suspended Exploratory Well Costs | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
9.Accounting for Suspended Exploratory Well Costs | 9. Accounting for Suspended Exploratory Well Costs For the category of exploratory well costs at year-end 2008 that were suspended more than one year, a total of $51 million was expensed in the first nine months of 2009. |
10.Condensed Consolidating Fina
10.Condensed Consolidating Financial Information Related to Guaranteed Securities Issued by Subsidiaries | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Notes to Financial Statements [Abstract] | |
10.Condensed Consolidating Financial Information Related to Guaranteed Securities Issued by Subsidiaries | 10. Condensed Consolidating Financial Information Related to Guaranteed Securities Issued by Subsidiaries Exxon Mobil Corporation has fully and unconditionally guaranteed the deferred interest debentures due 2012 ($2,089 million long-term at September30, 2009) and the debt securities due 2009-2011 ($26 million long-term and $13 million short-term) of SeaRiver Maritime Financial Holdings, Inc., a 100 percent owned subsidiary of Exxon Mobil Corporation. The following condensed consolidating financial information is provided for Exxon Mobil Corporation, as guarantor, and for SeaRiver Maritime Financial Holdings, Inc., as issuer, as an alternative to providing separate financial statements for the issuer. The accounts of Exxon Mobil Corporation and SeaRiver Maritime Financial Holdings, Inc. are presented utilizing the equity method of accounting for investments in subsidiaries. ExxonMobil Corporation Parent Guarantor SeaRiver Maritime Financial Holdings Inc. All Other Subsidiaries Consolidating and Eliminating Adjustments Consolidated (millions of dollars) Condensed consolidated statement of income for three months ended September30, 2009 Revenues and other income Salesandotheroperatingrevenue, including sales-based taxes $ 3,207 $ $ 76,883 $ $ 80,090 Income from equity affiliates 5,238 1 1,648 (5,212 ) 1,675 Other income 170 325 495 Intercompany revenue 8,067 1 74,420 (82,488 ) Total revenues and other income 16,682 2 153,276 (87,700 ) 82,260 Costs and other deductions Crude oil and product purchases 8,844 112,285 (79,440 ) 41,689 Production and manufacturing expenses 1,924 7,681 (1,508 ) 8,097 Selling, general and administrative expenses 783 3,289 (185 ) 3,887 Depreciation and depletion 405 2,522 2,927 Exploration expenses, including dry holes 59 436 495 Interest expense 174 55 1,208 (1,375 ) 62 Sales-based taxes 6,805 6,805 Other taxes and duties 4 9,090 9,094 Total costs and other deductions 12,193 55 143,316 (82,508 ) 73,056 Income before income taxes 4,489 (53 ) 9,960 (5,192 ) 9,204 Income taxes (241 ) (20 ) 4,594 4,333 Net income including noncontrolling interests 4,730 (33 ) 5,366 (5,192 ) 4,871 Net income attributable to noncontrolling interests 141 141 Net income attributable to ExxonMobil $ 4,730 $ (33 ) $ 5,225 $ (5,192 ) $ 4,730 |
Document Information
Document Information | |
9 Months Ended
Sep. 30, 2009 USD / shares | |
Document Information [Text Block] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | 2009-09-30 |
Entity Information
Entity Information (USD $) | |
9 Months Ended
Sep. 30, 2009 | |
Entity [Text Block] | |
Trading Symbol | XOM |
Entity Registrant Name | EXXON MOBIL CORP |
Entity Central Index Key | 0000034088 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 4,747,283,776 |