Document And Entity Information
Document And Entity Information | 9 Months Ended |
Sep. 30, 2017shares | |
Document And Entity Information [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Sep. 30, 2017 |
Document Fiscal Year Focus | 2,017 |
Document Fiscal Period Focus | Q3 |
Trading Symbol | XOM |
Entity Registrant Name | EXXON MOBIL CORP |
Entity Central Index Key | 34,088 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
Entity Common Stock, Shares Outstanding | 4,237,106,077 |
Condensed Consolidated Statemen
Condensed Consolidated Statement Of Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Revenues and other income | |||||
Sales and other operating revenue | [1],[2] | $ 64,415 | $ 56,767 | $ 186,330 | $ 160,232 |
Income from equity affiliates | 1,472 | 1,103 | 4,707 | 3,478 | |
Other income | 278 | 807 | 1,291 | 1,368 | |
Total revenues and other income | 66,165 | 58,677 | 192,328 | 165,078 | |
Costs and other deductions | |||||
Crude oil and product purchases | 31,432 | 28,035 | 91,985 | 75,872 | |
Production and manufacturing expenses | 8,334 | 7,709 | 24,586 | 23,346 | |
Selling, general and administrative expenses | 2,725 | 2,736 | 7,952 | 7,975 | |
Depreciation and depletion | 4,880 | 4,605 | 14,051 | 14,191 | |
Exploration expenses, including dry holes | 284 | 327 | 1,087 | 1,127 | |
Interest expense | 111 | 106 | 415 | 258 | |
Sales-based taxes | [2] | 5,864 | 5,437 | 16,795 | 15,687 |
Other taxes and duties | 6,952 | 6,496 | 19,800 | 19,270 | |
Total costs and other deductions | 60,582 | 55,451 | 176,671 | 157,726 | |
Income before income taxes | 5,583 | 3,226 | 15,657 | 7,352 | |
Income taxes | 1,498 | 337 | 4,218 | 1,001 | |
Net income including noncontrolling interests | 4,085 | 2,889 | 11,439 | 6,351 | |
Net income attributable to noncontrolling interests | 115 | 239 | 109 | 191 | |
Net income attributable to ExxonMobil | $ 3,970 | $ 2,650 | $ 11,330 | $ 6,160 | |
Earnings per common share (dollars) | [3] | $ 0.93 | $ 0.63 | $ 2.66 | $ 1.47 |
Earnings per common share - assuming dilution (dollars) | 0.93 | 0.63 | 2.66 | 1.47 | |
Dividends per common share (dollars) | $ 0.77 | $ 0.75 | $ 2.29 | $ 2.23 | |
[1] | Includes sales-based taxes | ||||
[2] | Sales-based taxes included in sales and other operating revenue for the three months ended September 30, 2017, and 2016, were $5,864 million and $5,437 million, respectively, and for the nine months ended September 30, 2017, and 2016, were $16,795 million and $15,687 million, respectively. | ||||
[3] | The calculation of earnings per common share and earnings per common share - assuming dilution are the same in each period. |
Condensed Consolidated Stateme3
Condensed Consolidated Statement Of Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Condensed Consolidated Statement Of Income [Abstract] | |||||
Sales-based taxes included in sales and other operating revenue | [1] | $ 5,864 | $ 5,437 | $ 16,795 | $ 15,687 |
[1] | Sales-based taxes included in sales and other operating revenue for the three months ended September 30, 2017, and 2016, were $5,864 million and $5,437 million, respectively, and for the nine months ended September 30, 2017, and 2016, were $16,795 million and $15,687 million, respectively. |
Condensed Consolidated Stateme4
Condensed Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Condensed Consolidated Statement Of Comprehensive Income [Abstract] | ||||
Net income including noncontrolling interests | $ 4,085 | $ 2,889 | $ 11,439 | $ 6,351 |
Other comprehensive income (net of income taxes) | ||||
Foreign exchange translation adjustment | 2,342 | (107) | 5,424 | 2,506 |
Adjustment for foreign exchange translation (gain)/loss included in net income | 234 | |||
Postretirement benefits reserves adjustment (excluding amortization) | (145) | 34 | (329) | 25 |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | 311 | 278 | 850 | 859 |
Total other comprehensive income | 2,508 | 205 | 6,179 | 3,390 |
Comprehensive income including noncontrolling interests | 6,593 | 3,094 | 17,618 | 9,741 |
Comprehensive income attributable to noncontrolling interests | 372 | 166 | 700 | 536 |
Comprehensive income attributable to ExxonMobil | $ 6,221 | $ 2,928 | $ 16,918 | $ 9,205 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheet - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Current assets | ||
Cash and cash equivalents | $ 4,266 | $ 3,657 |
Notes and accounts receivable - net | 23,263 | 21,394 |
Inventories | ||
Crude oil, products and merchandise | 12,488 | 10,877 |
Materials and supplies | 4,255 | 4,203 |
Other current assets | 1,480 | 1,285 |
Total current assets | 45,752 | 41,416 |
Investments, advances and long-term receivables | 37,649 | 35,102 |
Property, plant and equipment - net | 255,556 | 244,224 |
Other assets, including intangibles - net | 10,470 | 9,572 |
Total assets | 349,427 | 330,314 |
Current liabilities | ||
Notes and loans payable | 15,741 | 13,830 |
Accounts payable and accrued liabilities | 34,698 | 31,193 |
Income taxes payable | 3,338 | 2,615 |
Total current liabilities | 53,777 | 47,638 |
Long-term debt | 24,869 | 28,932 |
Postretirement benefits reserves | 20,874 | 20,680 |
Deferred income tax liabilities | 34,430 | 34,041 |
Long-term obligations to equity companies | 5,003 | 5,124 |
Other long-term obligations | 21,276 | 20,069 |
Total liabilities | 160,229 | 156,484 |
Commitments and contingencies (Note 3) | ||
Equity | ||
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 14,783 | 12,157 |
Earnings reinvested | 409,449 | 407,831 |
Accumulated other comprehensive income | (16,651) | (22,239) |
Common stock held in treasury (3,782 million shares at Sept. 30, 2017 and 3,871 million shares at Dec. 31, 2016) | (225,305) | (230,424) |
ExxonMobil share of equity | 182,276 | 167,325 |
Noncontrolling interests | 6,922 | 6,505 |
Total equity | 189,198 | 173,830 |
Total liabilities and equity | $ 349,427 | $ 330,314 |
Condensed Consolidated Balance6
Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Condensed Consolidated Balance Sheet [Abstract] | ||
Common stock, without par value | ||
Common stock, shares authorized | 9,000 | 9,000 |
Common stock, shares issued | 8,019 | 8,019 |
Common stock held in treasury, shares | 3,782 | 3,871 |
Condensed Consolidated Stateme7
Condensed Consolidated Statement Of Cash Flows - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | ||
Cash flows from operating activities | |||
Net income including noncontrolling interests | $ 11,439 | $ 6,351 | |
Depreciation and depletion | 14,051 | 14,191 | |
Changes in operational working capital, excluding cash and debt | (547) | (2,386) | |
All other items - net | (2,288) | (3,470) | |
Net cash provided by operating activities | 22,655 | 14,686 | |
Cash flows from investing activities | |||
Additions to property, plant and equipment | (10,901) | (12,276) | |
Proceeds associated with sales of subsidiaries, property, plant and equipment, and sales and returns of investments | 1,695 | 2,182 | |
Additional investments and advances | (1,950) | (1,398) | |
Other investing activities including collection of advances | 1,962 | 761 | |
Net cash used in investing activities | (9,194) | (10,731) | |
Cash flows from financing activities | |||
Additions to long-term debt | 60 | 11,964 | |
Additions to short-term debt | 1,735 | ||
Reductions in short-term debt | (4,971) | (286) | |
Additions/(reductions) in commercial paper, and debt with three months or less maturity | [1] | 339 | (4,062) |
Cash dividends to ExxonMobil shareholders | (9,712) | (9,320) | |
Cash dividends to noncontrolling interests | (139) | (122) | |
Changes in noncontrolling interests | (90) | ||
Common stock acquired | (515) | (727) | |
Common stock sold | 6 | ||
Net cash used in financing activities | (13,293) | (2,547) | |
Effects of exchange rate changes on cash | 441 | (20) | |
Increase/(decrease) in cash and cash equivalents | 609 | 1,388 | |
Cash and cash equivalents at beginning of period | 3,657 | 3,705 | |
Cash and cash equivalents at end of period | 4,266 | 5,093 | |
Supplemental Disclosures | |||
Income taxes paid | 4,611 | 3,049 | |
Cash interest paid | $ 965 | $ 709 | |
[1] | Includes a net reduction of commercial paper with a maturity of over three months of $0.5 billion in 2017 and a net addition of $1.0 billion in 2016. The gross amount of commercial paper with a maturity of over three months issued was $2.7 billion in 2017 and $2.9 billion in 2016, while the gross amount repaid was $3.2 billion in 2017 and $1.9 billion in 2016. |
Condensed Consolidated Stateme8
Condensed Consolidated Statement Of Cash Flows (Parenthetical) - Maturity Greater Than Three Months [Member] - USD ($) $ in Billions | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Net cash flow from issuance/(repayment) of commercial paper | $ (0.5) | $ 1 |
Proceeds from issuance of commercial paper | 2.7 | 2.9 |
Repayments of commercial paper | $ 3.2 | $ 1.9 |
Condensed Consolidated Stateme9
Condensed Consolidated Statement Of Changes In Equity - USD ($) shares in Millions, $ in Millions | Total | Exxon Mobil Share Of Common Stock [Member] | Exxon Mobil Share Of Earnings Reinvested [Member] | Exxon Mobil Share Of Accumulated Other Comprehensive Income [Member] | Exxon Mobil Share Of Common Stock Held In Treasury [Member] | Exxon Mobil Share Of Equity [Member] | Noncontrolling Interests [Member] |
Balance at Dec. 31, 2015 | $ 176,810 | $ 11,612 | $ 412,444 | $ (23,511) | $ (229,734) | $ 170,811 | $ 5,999 |
Balance (in shares) - issued at Dec. 31, 2015 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2015 | (3,863) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2015 | 4,156 | ||||||
Amortization of stock-based awards | $ 612 | 612 | 612 | ||||
Tax benefits related to stock-based awards | 11 | 11 | 11 | ||||
Other | (7) | (7) | (7) | ||||
Net income for the period | 6,351 | 6,160 | 6,160 | 191 | |||
Dividends - common shares (company) | (9,320) | (9,320) | |||||
Dividends - common shares (NCI) | (122) | ||||||
Dividends - common shares (total) | (9,442) | ||||||
Other comprehensive income | 3,390 | 3,045 | 3,045 | 345 | |||
Acquisitions, at cost (company) | $ (727) | (727) | |||||
Acquisitions, at cost (total) | $ (727) | ||||||
Acquisitions (in shares) | (9) | (9) | |||||
Dispositions | $ 12 | $ 12 | 12 | ||||
Balance at Sep. 30, 2016 | $ 177,010 | 12,228 | 409,284 | (20,466) | (230,449) | 170,597 | 6,413 |
Balance (in shares) - issued at Sep. 30, 2016 | 8,019 | ||||||
Balance (in shares) - in treasury at Sep. 30, 2016 | (3,872) | ||||||
Balance (in shares) - outstanding at Sep. 30, 2016 | 4,147 | ||||||
Balance at Dec. 31, 2016 | $ 173,830 | 12,157 | 407,831 | (22,239) | (230,424) | 167,325 | 6,505 |
Balance (in shares) - issued at Dec. 31, 2016 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2016 | (3,871) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2016 | 4,148 | ||||||
Amortization of stock-based awards | $ 635 | 635 | 635 | ||||
Other | (141) | (87) | (87) | (54) | |||
Net income for the period | 11,439 | 11,330 | 11,330 | 109 | |||
Dividends - common shares (company) | (9,712) | (9,712) | |||||
Dividends - common shares (NCI) | (139) | ||||||
Dividends - common shares (total) | (9,851) | ||||||
Other comprehensive income | 6,179 | 5,588 | 5,588 | 591 | |||
Acquisitions, at cost (company) | (596) | (596) | |||||
Acquisitions, at cost (NCI) | (90) | ||||||
Acquisitions, at cost (total) | (686) | ||||||
Issued for acquisitions | $ 7,789 | 2,078 | $ 5,711 | 7,789 | |||
Acquisitions (in shares) | (7) | (7) | |||||
Issued for acquisitions (in shares) | 96 | ||||||
Dispositions | $ 4 | $ 4 | 4 | ||||
Balance at Sep. 30, 2017 | $ 189,198 | $ 14,783 | $ 409,449 | $ (16,651) | $ (225,305) | $ 182,276 | $ 6,922 |
Balance (in shares) - issued at Sep. 30, 2017 | 8,019 | ||||||
Balance (in shares) - in treasury at Sep. 30, 2017 | (3,782) | ||||||
Balance (in shares) - outstanding at Sep. 30, 2017 | 4,237 |
Basis Of Financial Statement Pr
Basis Of Financial Statement Preparation | 9 Months Ended |
Sep. 30, 2017 | |
Basis Of Financial Statement Preparation [Abstract] | |
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 Corporation's 2016 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 fai r statement of the results for the periods reported herein. All such adjustments are of a normal recurring nature. Prior data has been reclassified in certain cases to conform to the current presentation basis. The Cor poration's exploration and production activities are accounted for under the "successful efforts" method. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 9 Months Ended |
Sep. 30, 2017 | |
New Accounting Pronouncements And Changes In Accounting Principles [Abstract] | |
Recently Issued Accounting Standards | 2 . Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board issued a new standard, Revenue from Contracts with Customers . The standard establishes a single revenue recognition model for all contracts with customers, eliminates industry specific requirements, and expands disclosure requirements. The standard is required to be adopted beginning January 1, 2018. “Sales and Other Operating Revenue” on the Consolidated Statement of Income includes sales, excise and value-added taxes on sales transactions. When the Corporation adopts the standard, revenue will exclude sales-based taxes collected on behalf of third parties. This change in reporting will not impact earnings. The Corporation expects to adopt the standard using the Modified Retrospective method, under wh ich prior years’ results are not restated, but supplemental information on the impact of the new standard is provided for 2018 results. The Corporation continues to evaluate other areas of the standard, which are not expected to have a material effect on t he Corporation’s financial statements. In January 2016, the Financial Accounting Standards Board issued an updated standard, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities . The standard requires investments in equity securities other than consolidated subsidiaries and equity method investments to be measured at fair value with changes in the fair value recognized through net income . Companies can elect a modified approach for equity securities that do not have a readily determinable fair value. ExxonMobil is evaluating the standard and its effect on the Corporatio n’s financial statements and plans to adopt it in 2018. In March 2017, the Financial Accounting Standards Board issued an Accounting Standards Update , Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . The update requires the service cost component of net benefit costs to be reported in the same line of the income statement as other compensation costs and the other components of net benefit costs (non-servic e costs) to be presented separately from the service cost component. Additionally, only the service cost component of net benefit costs will be eligible for capitalization. The update is required to be adopted beginning January 1, 2018. The Corporation exp ects to add a new line “Non-service pension and postretirement benefit expense” to its Consolidated Statement of Income. This line would reflect the non-service costs that were previously included in “Production and manufacturing expenses” and “Selling, ge neral and administrative expenses”. The update is not expected to have a material impact on the Corporation’s financial statements. Beginning January 1, 2018, the Corporation expects to include all of the non-service costs in its Corporate and financing se gment. In February 2016, the Financial Accounting Standards Board issued a new standard, Leases . The standard requires all leases with an initial term greater than one year be recorded on the balance sheet as an asset and a lease liability. ExxonMobil is evaluating the standard and its effect on the Corporation’s financial statements and plans to adopt it in 2019. |
Litigation And Other Contingenc
Litigation And Other Contingencies | 9 Months Ended |
Sep. 30, 2017 | |
Litigation And Other Contingencies [Abstract] | |
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 b ut 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 o f the contingency and, where feasible, an estimate of the possible loss. For purposes of our contingency disclosures, “significant” includes material matters as well as other matters which management believes should be disclosed. ExxonMobil will continue t o defend itself vigorously in these matters. Based on a consideration of all relevant facts and circumstances, the Corporation does not believe the ultimate outcome of any currently pending lawsuit against ExxonMobil will have a material adverse effect upo n the Corporation's operations, financial condition, or financial statements taken as a whole. Other Contingencies The Corporation and certain of its consolidated subsidiaries were contingently liable at September 30, 2017 , for guarantees relating to notes, loans and performance under contracts. Where guarantees for environmental remediation and other similar matters do not include a stated cap, the amounts reflect management’s estimate of the maximum potential exposure. These guarantees are not reasonably likely to have a material effect on the C orporation’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. As of September 30, 2017 Equity Other Company Third Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 107 30 137 Other 2,754 4,267 7,021 Total 2,861 4,297 7,158 (1) ExxonMobil share Additionally, the Corporation and its affiliates have numerous long-term sales and purchase commitments in their various business activities, all of which are expected to be fulfilled with no adverse consequences material to the Corporation’s operations or financial condition. The operations and earnings of the Corporation and its affiliates throughout the world have been, and may in the future be, affected from time to time in varying degree by political developments and laws and regulations, such as fo rced divestiture of assets; restrictions on production, imports and exports; price controls; tax increases and retroactive tax claims; expropriation of property; cancellation of contract rights and environmental regulations. Both the likelihood of such occ urrences and their overall effect upon the Corporation vary greatly from country to country and are not predictable. In accordance with a nationalization decree issued by Venezuela’s president in February 2007, by May 1, 2007, a subsidiary of the Venezue lan National Oil Company (PdVSA) assumed the operatorship of the Cerro Negro Heavy Oil Project. This Project had been operated and owned by ExxonMobil affiliates holding a 41.67 percent ownership interest in the Project. The decree also required conversion of the Cerro Negro Project into a “mixed enterprise” and an increase in PdVSA’s or one of its affiliate’s ownership interest in the Project, with the stipulation that if ExxonMobil refused to accept the terms for the formation of the mixed enterprise with in a specified period of time, the government would “directly assume the activities” carried out by the joint venture. ExxonMobil refused to accede to the terms proffered by the government, and on June 27, 2007, the government expropriated ExxonMobil’s 41. 67 percent interest in the Cerro Negro Project. On September 6, 2007, affiliates of ExxonMobil filed a Request for Arbitration with the International Centre for Settlement of Investment Disputes (ICSID). The ICSID Tribunal issued a decision on June 10, 2 010, finding that it had jurisdiction to proceed on the basis of the Netherlands-Venezuela Bilateral Investment Treaty. On October 9, 2014, the ICSID Tribunal issued its final award finding in favor of the ExxonMobil affiliates and awarding $1.6 billion as of the date of expropriation, June 27, 2007, and interest from that date at 3.25% compounded annually until the date of payment in full. The Tribunal also noted that one of the Cerro Negro Project agreements provides a mechanism to prevent double recovery between the ICSID award and all or part of an earlier award of $908 million to an ExxonMobil affiliate, Mobil Cerro Negro, Ltd., against PdVSA and a PdVSA affiliate, PdVSA CN, in an arbitration under the rules of the International Chamber of Commerce. On February 2, 2015, Venezuela filed a Request for Annulment of the ICSID award. On March 9, 2017, the ICSID Committee hearing the Request for Annulment issued a decision partially annulling the award of the Tribunal issued on October 9, 2014. The Committee affirmed the compensation due for the La Ceiba project and for export curtailments at the Cerro Negro project, but annulled the portion of the award relating to the Cerro Negro Project’s expropriation ($1.4 billion) based on its determination that the prio r Tribunal failed to adequately explain why the cap on damages in the indemnity owed by PdVSA did not affect or limit the amount owed for the expropriation of the Cerro Negro project. As a result, Exxon Mobil retains an award for $260 million (including acc rued interest). ExxonMobil reached an agreement with Venezue la for full payment of the $260 million and Venezuela has begun performing on it . The agreement does not impact ExxonMobil’s ability to re-arbitrate the issue that was the basis for the annulment in a new ICSID arbitration proceeding . The United States District Court for the Southern District of New York entered judgment on the ICSID award on October 10, 2014. Motions filed by Venezuela to vacate that judgment on procedural grounds and to modify t he judgment by reducing the rate of interest to be paid on the ICSID award from the entry of the court’s judgment, until the date of payment, were denied on February 13, 2015, and March 4, 2015, respectively. On March 9, 2015, Venezuela filed a notice of a ppeal of the court ’s actions on the two motions. On July 11, 2017, the United States Court of Appeals for the Second Circuit rendered its opinion overturning the District Court’s decision and vacating the judgment on the grounds that a different procedure should have been used to reduce the award to judgment. The Corporation is evaluating next steps. A stay of the District Court’s judgment has continued pending the completion of the Second Circuit appeal. The net impact of these matters on the Corporation’ s consolidated financial results cannot be reasonably estimated. Regardless, the Corporation does not expect the resolution to have a material effect upon the Corporation’s operations or financial condition. An affiliate of ExxonMobil is one of the Contractors under a Production Sharing Contract (PSC) with the Nigerian National Petroleum Corporation (NNPC) covering the Erha block located in the offshore waters of Nigeria. ExxonMobil's affiliate is the oper ator of the block and owns a 56.25 percent interest under the PSC. The Contractors are in dispute with NNPC regarding NNPC's lifting of crude oil in excess of its entitlement under the terms of the PSC. In accordance with the terms of the PSC, the Contract ors initiated arbitration in Abuja, Nigeria, under the Nigerian Arbitration and Conciliation Act. On October 24, 2011, a three-member arbitral Tribunal issued an award upholding the Contractors' position in all material respects and awarding damages to the Contractors jointly in an amount of approximately $1.8 billion plus $234 million in accrued interest. The Contractors petitioned a Nigerian federal court for enforcement of the award, and NNPC petitioned the same court to have the award set aside. On May 22, 2012, the court set aside the award. The Contractors appealed that judgment to the Court of Appeal, Abuja Judicial Division . On July 22, 2016, the Court of Appeal upheld the decision of the lower court setting aside the aw ard. On October 21, 2016, the Contractors appealed the decision to the Supreme Court of Nigeria. In June 2013, the Contractors filed a lawsuit against NNPC in the Nige rian federal high court in order to preserve their ability to seek enforcement of the PSC in the courts if necessary. F ollowing dismissal by this court, the Contractors appealed to the Nigerian Court of Appeal in June 2016. In October 2014 , the Contractors filed suit in the United States District Court for the Southern District of New York to enforce , if necessary, the arb itration award against NNPC assets residing within that jurisdiction. NNPC has moved to dismiss the lawsuit. The stay in the proceedings in the Southern District of New York has been lifted. At this time, the net impact of this matter on the Corporation's consolidated financial results cannot be reasonably estimated. However, regardless of the outcome of enforcement proceedings, the Corporation does not expect the proceedings to have a material effect upon the Corporation's operations or financial condition . |
Other Comprehensive Income Info
Other Comprehensive Income Information | 9 Months Ended |
Sep. 30, 2017 | |
Other Comprehensive Income Information [Abstract] | |
Other Comprehensive Income Information | 4 . Other Comprehensive Income Information Cumulative Post- Foreign retirement Exchange Benefits ExxonMobil Share of Accumulated Other Translation Reserves Comprehensive Income Adjustment Adjustment Total (millions of dollars) Balance as of December 31, 2015 (14,170) (9,341) (23,511) Current period change excluding amounts reclassified from accumulated other comprehensive income 2,189 23 2,212 Amounts reclassified from accumulated other comprehensive income - 833 833 Total change in accumulated other comprehensive income 2,189 856 3,045 Balance as of September 30, 2016 (11,981) (8,485) (20,466) Balance as of December 31, 2016 (14,501) (7,738) (22,239) Current period change excluding amounts reclassified from accumulated other comprehensive income 4,925 (300) 4,625 Amounts reclassified from accumulated other comprehensive income 140 823 963 Total change in accumulated other comprehensive income 5,065 523 5,588 Balance as of September 30, 2017 (9,436) (7,215) (16,651) Three Months Ended Nine Months Ended Amounts Reclassified Out of Accumulated Other September 30, September 30, Comprehensive Income - Before-tax Income/(Expense) 2017 2016 2017 2016 (millions of dollars) Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) - - (234) - Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (1) (450) (415) (1,215) (1,248) (1) These accumulated other comprehensive income components are included in the computation of net pe riodic pension cost. (See Note 6 – Pension and Other Postretirement Benefits for additional details.) Three Months Ended Nine Months Ended Income Tax (Expense)/Credit For September 30, September 30, Components of Other Comprehensive Income 2017 2016 2017 2016 (millions of dollars) Foreign exchange translation adjustment 17 (9) (9) (6) Postretirement benefits reserves adjustment (excluding amortization) 74 (11) 154 20 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (139) (137) (365) (389) Total (48) (157) (220) (375) |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 5 . Earnings Per Share Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Earnings per common share Net income attributable to ExxonMobil (millions of dollars) 3,970 2,650 11,330 6,160 Weighted average number of common shares outstanding (millions of shares) 4,271 4,178 4,252 4,178 Earnings per common share (dollars) (1) 0.93 0.63 2.66 1.47 (1) The calculation of earnings per common share and earnings per common share – assuming dilution are the same in each period shown. |
Pension And Other Postretiremen
Pension And Other Postretirement Benefits | 9 Months Ended |
Sep. 30, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension And Other Postretirement Benefits | 6 . Pension and Other Postretirement Benefits Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (millions of dollars) Components of net benefit cost Pension Benefits - U.S. Service cost 200 200 583 606 Interest cost 199 198 598 594 Expected return on plan assets (194) (182) (582) (545) Amortization of actuarial loss/(gain) and prior service cost 110 124 332 373 Net pension enhancement and curtailment/settlement cost 187 111 450 333 Net benefit cost 502 451 1,381 1,361 Pension Benefits - Non-U.S. Service cost 155 131 445 430 Interest cost 198 206 574 636 Expected return on plan assets (260) (227) (743) (701) Amortization of actuarial loss/(gain) and prior service cost 135 151 388 452 Net pension enhancement and curtailment/settlement cost - - (5) - Net benefit cost 228 261 659 817 Other Postretirement Benefits Service cost 36 38 92 115 Interest cost 88 85 227 258 Expected return on plan assets (6) (6) (17) (18) Amortization of actuarial loss/(gain) and prior service cost 18 29 45 90 Net benefit cost 136 146 347 445 |
Financial Instruments
Financial Instruments | 9 Months Ended |
Sep. 30, 2017 | |
Financial Instruments [Abstract] | |
Financial Instruments | 7 . Financial Instruments The fair value of financial instruments is determined by reference to observable market data and other valuat ion techniques as appropriate. The only category of financial instruments where the difference between fair value and recorded book value is notable is long-term debt. The estimated fair value of total long-term debt, excluding capitalized lease obligations, was $ 24,199 m illion at September 30, 2017 , and $ 27,968 m illion at December 31, 2016 , as com pared to recorded book values of $ 23,523 m illion at September 30, 2017 , and $ 27,707 m illion at December 31, 2016 . The fair value of long-term debt by hie rarchy level at September 30, 2017 , is: Level 1 $ 24,021 million; Level 2 $ 172 million; and Level 3 $ 6 million. Level 1 represents quoted prices in active markets. Level 2 includes debt whose fair value is based upon a pu blicly available index. Level 3 involves using internal data augmented by relevant market indicators if available. |
Disclosures About Segments And
Disclosures About Segments And Related Information | 9 Months Ended |
Sep. 30, 2017 | |
Disclosures About Segments And Related Information [Abstract] | |
Disclosures About Segments And Related Information | 8 . Disclosures about Segments and Related Information Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Earnings After Income Tax (millions of dollars) Upstream United States (238) (477) (439) (1,823) Non-U.S. 1,805 1,097 5,442 2,661 Downstream United States 391 225 1,030 824 Non-U.S. 1,141 1,004 3,003 2,136 Chemical United States 403 434 1,413 1,524 Non-U.S. 689 737 1,835 2,219 All other (221) (370) (954) (1,381) Corporate total 3,970 2,650 11,330 6,160 Sales and Other Operating Revenue (1) Upstream United States 2,282 2,152 6,955 5,373 Non-U.S. 3,736 3,177 10,865 9,371 Downstream United States 16,312 14,930 47,059 40,981 Non-U.S. 34,837 29,969 99,978 85,135 Chemical United States 2,589 2,474 8,119 7,377 Non-U.S. 4,646 4,049 13,313 11,970 All other 13 16 41 25 Corporate total 64,415 56,767 186,330 160,232 (1) Includes sales-based taxes Intersegment Revenue Upstream United States 1,365 875 3,937 2,598 Non-U.S. 5,734 4,401 16,356 12,843 Downstream United States 3,134 2,775 10,621 8,057 Non-U.S. 5,866 4,903 16,048 13,514 Chemical United States 1,675 1,615 5,290 4,805 Non-U.S. 1,482 1,043 3,776 3,073 All other 51 60 154 174 |
InterOil Corporation and Permia
InterOil Corporation and Permian Basin Properties Acquisitions | 9 Months Ended |
Sep. 30, 2017 | |
Business Combinations [Abstract] | |
Mergers Acquisitions And Dispositions Disclosures [TextBlock] | 9. InterOil Corporation and Permian Basin Properties Acquisitions InterOil Corporation On February 22, 2017, t he Corporation completed the acquisition of InterOil Corporation (IOC) for $2.7 billion . The IOC acquisition was unproved properties i n Papua Ne w Guinea. Consideration included 28 million shares of Exxon Mobil Corporation common stock having a value on the acquisition date of $2.2 billion, a Contingent Resource Payment (CRP) with a fair value of $0.3 billion and cash of $0.2 billion . The CRP provi des IOC shareholders $7.07 per share in cash for each incremental independently certified Trillion Cubic Feet Equivalent (TCFE) of resources above 6.2 TCFE, up to 11.0 TCFE. IOC’s assets include a contingent receivable related to the same resource base for volumes in excess of 3.5 TCFE at amounts ranging from $0.24 - $0.40 per thousand cubic feet equivalent. The fair value of the contingent receivable was $1.1 billion at the acquisition date. Fair values of contingent amounts were based on assumptions about the outcome of the resource certification, future business plans and appropriate discount rates. On September 6, 2017, the resource certification was finalized triggering both payment of the CRP to former IOC shareholders and receipt of the current port ion of the contingent receivable. The earnings impact from settlement of the CRP and the related contingent receivable was not material. Permian Basin Properties On February 28, 2017, the Corporation completed the acquisition for $6.2 billion of a number of companies from the Bass family in Fort Worth, Texas, that indirectly own mostly unproved oil and gas properties in the Permian Basin and other assets . Consideration included 68 million shares of Exxon Mobil Corporation c ommon stock having a val u e on the acquisition date of $5.5 billion, together with additional contingent cash payments tied to future drilling and completion activities (up to a maximum of $1.02 billion). The fair value of the contingent payment was $0.7 billion as of the acquisit ion date and is expected to be paid beginning in 2020 and ending no later than 2032 commensurate with the development of the resource. Fair value of the contingent payment was based on assumptions including drilling and completion activities, appropriate d iscount rates and tax rates. Below is a summary of the net assets acquired for each acquisition. IOC Permian (billions of dollars) Current assets 0.6 - Property, plant and equipment 2.9 6.3 Other 0.6 - Total assets 4.1 6.3 Current liabilities 0.5 - Long-term liabilities 0.9 0.1 Total liabilities 1.4 0.1 Net assets acquired 2.7 6.2 |
Accounting for Suspended Explor
Accounting for Suspended Exploratory Well Costs | 9 Months Ended |
Sep. 30, 2017 | |
Capitalized Exploratory Well Costs [Abstract] | |
Accounting for Suspended Exploratory Well Costs | 10. Accounting for Suspended Exploratory Well Costs For the category of exploratory well costs at year-end 2016 that were suspended more than one year, a total of $ 240 million was expensed in the first nine months of 2017 . |
Litigation And Other Continge20
Litigation And Other Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Litigation And Other Contingencies [Abstract] | |
Schedule Of Guarantees | As of September 30, 2017 Equity Other Company Third Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 107 30 137 Other 2,754 4,267 7,021 Total 2,861 4,297 7,158 (1) ExxonMobil share |
Other Comprehensive Income In21
Other Comprehensive Income Information (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Other Comprehensive Income Information [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income Information | Cumulative Post- Foreign retirement Exchange Benefits ExxonMobil Share of Accumulated Other Translation Reserves Comprehensive Income Adjustment Adjustment Total (millions of dollars) Balance as of December 31, 2015 (14,170) (9,341) (23,511) Current period change excluding amounts reclassified from accumulated other comprehensive income 2,189 23 2,212 Amounts reclassified from accumulated other comprehensive income - 833 833 Total change in accumulated other comprehensive income 2,189 856 3,045 Balance as of September 30, 2016 (11,981) (8,485) (20,466) Balance as of December 31, 2016 (14,501) (7,738) (22,239) Current period change excluding amounts reclassified from accumulated other comprehensive income 4,925 (300) 4,625 Amounts reclassified from accumulated other comprehensive income 140 823 963 Total change in accumulated other comprehensive income 5,065 523 5,588 Balance as of September 30, 2017 (9,436) (7,215) (16,651) |
Reclassification Out Of Accumulated Other Comprehensive Income | Three Months Ended Nine Months Ended Amounts Reclassified Out of Accumulated Other September 30, September 30, Comprehensive Income - Before-tax Income/(Expense) 2017 2016 2017 2016 (millions of dollars) Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) - - (234) - Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (1) (450) (415) (1,215) (1,248) (1) These accumulated other comprehensive income components are included in the computation of net pe riodic pension cost. (See Note 6 – Pension and Other Postretirement Benefits for additional details.) |
Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income | Three Months Ended Nine Months Ended Income Tax (Expense)/Credit For September 30, September 30, Components of Other Comprehensive Income 2017 2016 2017 2016 (millions of dollars) Foreign exchange translation adjustment 17 (9) (9) (6) Postretirement benefits reserves adjustment (excluding amortization) 74 (11) 154 20 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (139) (137) (365) (389) Total (48) (157) (220) (375) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Computation | Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Earnings per common share Net income attributable to ExxonMobil (millions of dollars) 3,970 2,650 11,330 6,160 Weighted average number of common shares outstanding (millions of shares) 4,271 4,178 4,252 4,178 Earnings per common share (dollars) (1) 0.93 0.63 2.66 1.47 (1) The calculation of earnings per common share and earnings per common share – assuming dilution are the same in each period shown. |
Pension And Other Postretirem23
Pension And Other Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Pension And Other Postretirement Benefits | Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (millions of dollars) Components of net benefit cost Pension Benefits - U.S. Service cost 200 200 583 606 Interest cost 199 198 598 594 Expected return on plan assets (194) (182) (582) (545) Amortization of actuarial loss/(gain) and prior service cost 110 124 332 373 Net pension enhancement and curtailment/settlement cost 187 111 450 333 Net benefit cost 502 451 1,381 1,361 Pension Benefits - Non-U.S. Service cost 155 131 445 430 Interest cost 198 206 574 636 Expected return on plan assets (260) (227) (743) (701) Amortization of actuarial loss/(gain) and prior service cost 135 151 388 452 Net pension enhancement and curtailment/settlement cost - - (5) - Net benefit cost 228 261 659 817 Other Postretirement Benefits Service cost 36 38 92 115 Interest cost 88 85 227 258 Expected return on plan assets (6) (6) (17) (18) Amortization of actuarial loss/(gain) and prior service cost 18 29 45 90 Net benefit cost 136 146 347 445 |
Disclosures About Segments An24
Disclosures About Segments And Related Information (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Disclosures About Segments And Related Information [Abstract] | |
Disclosures About Segments And Related Information | Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Earnings After Income Tax (millions of dollars) Upstream United States (238) (477) (439) (1,823) Non-U.S. 1,805 1,097 5,442 2,661 Downstream United States 391 225 1,030 824 Non-U.S. 1,141 1,004 3,003 2,136 Chemical United States 403 434 1,413 1,524 Non-U.S. 689 737 1,835 2,219 All other (221) (370) (954) (1,381) Corporate total 3,970 2,650 11,330 6,160 Sales and Other Operating Revenue (1) Upstream United States 2,282 2,152 6,955 5,373 Non-U.S. 3,736 3,177 10,865 9,371 Downstream United States 16,312 14,930 47,059 40,981 Non-U.S. 34,837 29,969 99,978 85,135 Chemical United States 2,589 2,474 8,119 7,377 Non-U.S. 4,646 4,049 13,313 11,970 All other 13 16 41 25 Corporate total 64,415 56,767 186,330 160,232 (1) Includes sales-based taxes Intersegment Revenue Upstream United States 1,365 875 3,937 2,598 Non-U.S. 5,734 4,401 16,356 12,843 Downstream United States 3,134 2,775 10,621 8,057 Non-U.S. 5,866 4,903 16,048 13,514 Chemical United States 1,675 1,615 5,290 4,805 Non-U.S. 1,482 1,043 3,776 3,073 All other 51 60 154 174 |
InterOil Corporation and Perm25
InterOil Corporation and Permian Basin Properties Acquisitions (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Business Combinations [Abstract] | |
Schedule Of Business Acquisitions, By Acquisition [Table] | IOC Permian (billions of dollars) Current assets 0.6 - Property, plant and equipment 2.9 6.3 Other 0.6 - Total assets 4.1 6.3 Current liabilities 0.5 - Long-term liabilities 0.9 0.1 Total liabilities 1.4 0.1 Net assets acquired 2.7 6.2 |
Litigation And Other Continge26
Litigation And Other Contingencies (Narrative) (Details) - USD ($) $ in Millions | Mar. 09, 2017 | Oct. 09, 2014 | Oct. 24, 2011 | Jun. 27, 2007 | May 01, 2007 |
Production Sharing Contract (PSC) [Member] | |||||
Litigation And Other Contingencies [Line Items] | |||||
Percent interest in Erha block PSC | 56.25% | ||||
Pending Or Threatened Litigation [Member] | |||||
Litigation And Other Contingencies [Line Items] | |||||
Amount of award relating to excess lifting of crude oil | $ 1,800 | ||||
Accrued interest relating to award for excess lifting of crude oil | $ 234 | ||||
Expropriation Of Assets [Member] | Mobil Cerro Negro, Ltd. (MCN) [Member] | |||||
Litigation And Other Contingencies [Line Items] | |||||
Percentage ownership interest in Cerro Negro Project | 41.67% | 41.67% | |||
Final award related to Cerro Negro Project arbitration | $ 1,600 | ||||
Interest rate on award for Cerro Negro Project | 3.25% | ||||
Earlier Cerro Negro award for breach of contractual obligations | $ 908 | ||||
Annulled portion of award for Cerro Negro Project | $ 1,400 | ||||
Retained portion of award for Cerro Negro Project | 260 | ||||
Portion of award agreed to be paid by Venezuela for Cerro Negro Project | $ 260 |
Litigation And Other Continge27
Litigation And Other Contingencies (Schedule Of Guarantees) (Details) $ in Millions | Sep. 30, 2017USD ($) | |
Litigation And Other Contingencies [Line Items] | ||
Guarantees | $ 7,158 | |
Equity Company Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 2,861 | [1] |
Other Third Party Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 4,297 | |
Debt Related Guarantees [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 137 | |
Debt Related Guarantees [Member] | Equity Company Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 107 | [1] |
Debt Related Guarantees [Member] | Other Third Party Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 30 | |
Other Guarantees [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 7,021 | |
Other Guarantees [Member] | Equity Company Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 2,754 | [1] |
Other Guarantees [Member] | Other Third Party Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | $ 4,267 | |
[1] | ExxonMobil share |
Other Comprehensive Income In28
Other Comprehensive Income Information (Schedule Of Accumulated Other Comprehensive Income Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease [Abstract] | ||||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | $ 2,342 | $ (107) | $ 5,424 | $ 2,506 |
Amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 234 | |||
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease [Abstract] | ||||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | (145) | 34 | (329) | 25 |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 311 | 278 | 850 | 859 |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||||
Beginning Balance, Total | (22,239) | |||
Ending Balance, Total | (16,651) | (16,651) | ||
Exxon Mobil Corporation Share After Noncontrolling Interest [Member] | ||||
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease [Abstract] | ||||
Beginning Balance, Cumulative Foreign Exchange Translation Adjustment | (14,501) | (14,170) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 4,925 | 2,189 | ||
Amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 140 | |||
Total change in accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 5,065 | 2,189 | ||
Ending Balance, Cumulative Foreign Exchange Translation Adjustment | (9,436) | (11,981) | (9,436) | (11,981) |
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease [Abstract] | ||||
Beginning Balance, Postretirement Benefits Reserves Adjustment | (7,738) | (9,341) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | (300) | 23 | ||
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 823 | 833 | ||
Total change in accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 523 | 856 | ||
Ending Balance, Postretirement Benefits Reserves Adjustment | (7,215) | (8,485) | (7,215) | (8,485) |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||||
Beginning Balance, Total | (22,239) | (23,511) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Total | 4,625 | 2,212 | ||
Amounts reclassified from accumulated other comprehensive income, Total | 963 | 833 | ||
Total change in accumulated other comprehensive income, Total | 5,588 | 3,045 | ||
Ending Balance, Total | $ (16,651) | $ (20,466) | $ (16,651) | $ (20,466) |
Other Comprehensive Income In29
Other Comprehensive Income Information (Amounts Reclassified Out Of Acc Other Comp Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Other Comprehensive Income Loss Before Tax [Abstract] | |||||
Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other Income) | $ (234) | ||||
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | [1] | $ (450) | $ (415) | $ (1,215) | $ (1,248) |
[1] | These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 6 – Pension and Other Postretirement Benefits for additional details.) |
Other Comprehensive Income In30
Other Comprehensive Income Information (Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Other Comprehensive Income Information [Abstract] | ||||
Foreign exchange translation adjustment | $ 17 | $ (9) | $ (9) | $ (6) |
Postretirement benefits reserves adjustment (excluding amortization) | 74 | (11) | 154 | 20 |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | (139) | (137) | (365) | (389) |
Total | $ (48) | $ (157) | $ (220) | $ (375) |
Earnings Per Share (Earnings Pe
Earnings Per Share (Earnings Per Share Computation) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Earnings per common share | |||||
Net income attributable to ExxonMobil | $ 3,970 | $ 2,650 | $ 11,330 | $ 6,160 | |
Weighted average number of common shares outstanding | 4,271 | 4,178 | 4,252 | 4,178 | |
Earnings per common share (dollars) | [1] | $ 0.93 | $ 0.63 | $ 2.66 | $ 1.47 |
[1] | The calculation of earnings per common share and earnings per common share - assuming dilution are the same in each period. |
Pension And Other Postretirem32
Pension And Other Postretirement Benefits (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Pension Benefits - U.S. | ||||
Service cost | $ 200 | $ 200 | $ 583 | $ 606 |
Interest cost | 199 | 198 | 598 | 594 |
Expected return on plan assets | (194) | (182) | (582) | (545) |
Amortization of actuarial loss/(gain) and prior service cost | 110 | 124 | 332 | 373 |
Net pension enhancement and curtailment/settlement cost | 187 | 111 | 450 | 333 |
Net benefit cost | 502 | 451 | 1,381 | 1,361 |
Pension Benefits - Non-U.S. [Member] | ||||
Service cost | 155 | 131 | 445 | 430 |
Interest cost | 198 | 206 | 574 | 636 |
Expected return on plan assets | (260) | (227) | (743) | (701) |
Amortization of actuarial loss/(gain) and prior service cost | 135 | 151 | 388 | 452 |
Net pension enhancement and curtailment/settlement cost | (5) | |||
Net benefit cost | 228 | 261 | 659 | 817 |
Other Postretirement Benefits [Member] | ||||
Service cost | 36 | 38 | 92 | 115 |
Interest cost | 88 | 85 | 227 | 258 |
Expected return on plan assets | (6) | (6) | (17) | (18) |
Amortization of actuarial loss/(gain) and prior service cost | 18 | 29 | 45 | 90 |
Net benefit cost | $ 136 | $ 146 | $ 347 | $ 445 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Millions | Sep. 30, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Estimated fair value of total long-term debt, excluding capitalized lease obligations | $ 24,199 | $ 27,968 |
Recorded book values of total long-term debt, excluding capitalized lease obligations | 23,523 | $ 27,707 |
Level 1 [Member] | ||
Debt Instrument [Line Items] | ||
Estimated fair value of total long-term debt, excluding capitalized lease obligations | 24,021 | |
Level 2 [Member] | ||
Debt Instrument [Line Items] | ||
Estimated fair value of total long-term debt, excluding capitalized lease obligations | 172 | |
Level 3 [Member] | ||
Debt Instrument [Line Items] | ||
Estimated fair value of total long-term debt, excluding capitalized lease obligations | $ 6 |
Disclosures About Segments An34
Disclosures About Segments And Related Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | ||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | $ 3,970 | $ 2,650 | $ 11,330 | $ 6,160 | |
Sales and other operating revenue | [1],[2] | 64,415 | 56,767 | 186,330 | 160,232 |
Upstream United States [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | (238) | (477) | (439) | (1,823) | |
Sales and other operating revenue | [1] | 2,282 | 2,152 | 6,955 | 5,373 |
Intersegment Revenue | 1,365 | 875 | 3,937 | 2,598 | |
Upstream Non-U.S. [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 1,805 | 1,097 | 5,442 | 2,661 | |
Sales and other operating revenue | [1] | 3,736 | 3,177 | 10,865 | 9,371 |
Intersegment Revenue | 5,734 | 4,401 | 16,356 | 12,843 | |
Downstream United States [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 391 | 225 | 1,030 | 824 | |
Sales and other operating revenue | [1] | 16,312 | 14,930 | 47,059 | 40,981 |
Intersegment Revenue | 3,134 | 2,775 | 10,621 | 8,057 | |
Downstream Non-U.S. [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 1,141 | 1,004 | 3,003 | 2,136 | |
Sales and other operating revenue | [1] | 34,837 | 29,969 | 99,978 | 85,135 |
Intersegment Revenue | 5,866 | 4,903 | 16,048 | 13,514 | |
Chemical United States [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 403 | 434 | 1,413 | 1,524 | |
Sales and other operating revenue | [1] | 2,589 | 2,474 | 8,119 | 7,377 |
Intersegment Revenue | 1,675 | 1,615 | 5,290 | 4,805 | |
Chemical Non-U.S. [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | 689 | 737 | 1,835 | 2,219 | |
Sales and other operating revenue | [1] | 4,646 | 4,049 | 13,313 | 11,970 |
Intersegment Revenue | 1,482 | 1,043 | 3,776 | 3,073 | |
All Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Earnings after income tax | (221) | (370) | (954) | (1,381) | |
Sales and other operating revenue | [1] | 13 | 16 | 41 | 25 |
Intersegment Revenue | $ 51 | $ 60 | $ 154 | $ 174 | |
[1] | Includes sales-based taxes | ||||
[2] | Sales-based taxes included in sales and other operating revenue for the three months ended September 30, 2017, and 2016, were $5,864 million and $5,437 million, respectively, and for the nine months ended September 30, 2017, and 2016, were $16,795 million and $15,687 million, respectively. |
InterOil Corporation and Perm35
InterOil Corporation and Permian Basin Properties Acquisitions (Details) $ / shares in Units, shares in Millions, $ in Millions | 9 Months Ended | ||
Sep. 30, 2017USD ($)Tcfe$ / shares$ / Mcfeshares | Feb. 28, 2017USD ($) | Feb. 22, 2017USD ($) | |
InterOil Corporation [Member] | |||
Business Acquisition [Line Items] | |||
Date of acquisition | Feb. 22, 2017 | ||
Total purchase price | $ 2,700 | ||
Cash paid | 200 | ||
Contingent liability fair value | 300 | ||
Business combination consideration transferred equity interests issued | $ 2,200 | ||
Business acquisition equity interests issued or issuable, number of shares issued | shares | 28 | ||
Business Combination Contingent Consideration Liability [Abstract] | |||
Contingent consideration per trillion cubic feet equivalent of resources | $ / shares | $ 7.07 | ||
Minimum resource for contingent consideration, tcfe | Tcfe | 6.2 | ||
Maximum resource equivalent for contingent consideration, tcfe | Tcfe | 11 | ||
Business Combination Contingent Consideration Asset [Abstract] | |||
Minimum resource for contingent receivable, tcfe | Tcfe | 3.5 | ||
Minimum amount per thousand cubic feet equivalent | $ / Mcfe | 0.24 | ||
Maximum amount per thousand cubic feet equivalent | $ / Mcfe | 0.4 | ||
Contingent receivable | $ 1,100 | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net [Abstract] | |||
Current assets | $ 600 | ||
Property, plant and equipment | 2,900 | ||
Other | 600 | ||
Total assets | 4,100 | ||
Current liabilities | 500 | ||
Long-term liabilities | 900 | ||
Total liabilities | 1,400 | ||
Net assets acquired | $ 2,700 | ||
Permian Basin Properties [Member] | |||
Business Acquisition [Line Items] | |||
Date of acquisition | Feb. 28, 2017 | ||
Total purchase price | $ 6,200 | ||
Contingent liability fair value | 700 | ||
Business combination consideration transferred equity interests issued | $ 5,500 | ||
Business acquisition equity interests issued or issuable, number of shares issued | shares | 68 | ||
Business Combination Contingent Consideration Liability [Abstract] | |||
Contingent cash payments, maximum | $ 1,020 | ||
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net [Abstract] | |||
Property, plant and equipment | $ 6,300 | ||
Total assets | 6,300 | ||
Long-term liabilities | 100 | ||
Total liabilities | 100 | ||
Net assets acquired | $ 6,200 | ||
Permian Basin Properties [Member] | Maximum [Member] | |||
Business Combination Contingent Consideration Liability [Abstract] | |||
Expected Date Of Payment | 2,032 | ||
Permian Basin Properties [Member] | Minimum [Member] | |||
Business Combination Contingent Consideration Liability [Abstract] | |||
Expected Date Of Payment | 2,020 |
Accounting for Suspended Expl36
Accounting for Suspended Exploratory Well Costs (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Capitalized Exploratory Well Costs [Abstract] | |
Charged to expense in period | $ 240 |