Document And Entity Information
Document And Entity Information | 9 Months Ended |
Sep. 30, 2019shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Quarterly Report | true |
Document Period End Date | Sep. 30, 2019 |
Document Fiscal Year Focus | 2019 |
Document Transition Report | false |
Entity File Number | 1-2256 |
Entity Registrant Name | Exxon Mobil Corporation |
Entity Incorporation, State or Country Code | NJ |
Entity Tax Identification Number | 13-5409005 |
Entity Address, Address Line One | 5959 Las Colinas Boulevard |
Entity Address City or Town | Irving |
Entity Address State or Province | TX |
Entity Address, Postal Zip Code | 75039-2298 |
City Area Code | 972 |
Local Phone Number | 940-6000 |
Security 12(b) Title | Common Stock, without par value |
Trading Symbol | XOM |
Security Exchange Name | NYSE |
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 | 4,231,106,066 |
Entity Central Index Key | 0000034088 |
Document Fiscal Period Focus | Q3 |
Current Fiscal Year End Date | --12-31 |
Condensed Consolidated Statemen
Condensed Consolidated Statement Of Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Revenues and other income | |||||
Sales and other operating revenue | $ 63,422 | $ 74,187 | $ 192,559 | $ 211,079 | |
Income from equity affiliates | 1,196 | 1,960 | 4,264 | 5,599 | |
Other income | 431 | 458 | 942 | 1,639 | |
Total revenues and other income | 65,049 | 76,605 | 197,765 | 218,317 | |
Costs and other deductions | |||||
Crude oil and product purchases | 35,290 | 41,776 | 109,033 | 119,391 | |
Production and manufacturing expenses | 8,848 | 9,097 | 27,340 | 26,506 | |
Selling, general and administrative expenses | 2,753 | 2,892 | 8,350 | 8,632 | |
Depreciation and depletion | 4,873 | 4,658 | 14,075 | 13,717 | |
Exploration expenses, including dry holes | 299 | 292 | 912 | 911 | |
Non-service pension and postretirement benefit expense | 357 | 307 | 1,028 | 952 | |
Interest expense | 232 | 200 | 629 | 551 | |
Other taxes and duties | 7,676 | 8,303 | 22,756 | 24,825 | |
Total costs and other deductions | 60,328 | 67,525 | 184,123 | 195,485 | |
Income before income taxes | 4,721 | 9,080 | 13,642 | 22,832 | |
Income taxes | 1,474 | 2,634 | 4,598 | 7,617 | |
Net income including noncontrolling interests | 3,247 | 6,446 | 9,044 | 15,215 | |
Net income attributable to noncontrolling interests | 77 | 206 | 394 | 375 | |
Net income attributable to ExxonMobil | $ 3,170 | $ 6,240 | $ 8,650 | $ 14,840 | |
Earnings per common share (dollars) | [1] | $ 0.75 | $ 1.46 | $ 2.03 | $ 3.47 |
Earnings per common share - assuming dilution (dollars) | $ 0.75 | $ 1.46 | $ 2.03 | $ 3.47 | |
[1] | The calculation of earnings per common share and earnings per common share – assuming dilution are the same in each period shown. |
Condensed Consolidated Statem_2
Condensed Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Condensed Consolidated Statement Of Comprehensive Income [Abstract] | ||||
Net income including noncontrolling interests | $ 3,247 | $ 6,446 | $ 9,044 | $ 15,215 |
Other comprehensive income (net of income taxes) | ||||
Foreign exchange translation adjustment | (1,424) | 124 | (75) | (2,720) |
Adjustment for foreign exchange translation (gain)/loss included in net income | 186 | |||
Postretirement benefits reserves adjustment (excluding amortization) | 103 | (3) | 43 | (394) |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | 186 | 223 | 512 | 689 |
Total other comprehensive income | (1,135) | 344 | 480 | (2,239) |
Comprehensive income including noncontrolling interests | 2,112 | 6,790 | 9,524 | 12,976 |
Comprehensive income attributable to noncontrolling interests | 14 | 311 | 587 | 205 |
Comprehensive income attributable to ExxonMobil | $ 2,098 | $ 6,479 | $ 8,937 | $ 12,771 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheet - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Current assets | ||
Cash and cash equivalents | $ 5,351 | $ 3,042 |
Notes and accounts receivable - net | 25,308 | 24,701 |
Inventories | ||
Crude oil, products and merchandise | 13,131 | 14,803 |
Materials and supplies | 4,459 | 4,155 |
Other current assets | 1,759 | 1,272 |
Total current assets | 50,008 | 47,973 |
Investments, advances and long-term receivables | 42,920 | 40,790 |
Property, plant and equipment - net | 250,512 | 247,101 |
Other assets, including intangibles - net | 15,921 | 10,332 |
Total assets | 359,361 | 346,196 |
Current liabilities | ||
Notes and loans payable | 21,196 | 17,258 |
Accounts payable and accrued liabilities | 40,541 | 37,268 |
Income taxes payable | 2,458 | 2,612 |
Total current liabilities | 64,195 | 57,138 |
Long-term debt | 25,950 | 20,538 |
Postretirement benefits reserves | 19,365 | 20,272 |
Deferred income tax liabilities | 26,513 | 27,244 |
Long-term obligations to equity companies | 4,232 | 4,382 |
Other long-term obligations | 21,997 | 18,094 |
Total liabilities | 162,252 | 147,668 |
Commitments and contingencies (Note 3) | ||
Equity | ||
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 15,795 | 15,258 |
Earnings reinvested | 419,367 | 421,653 |
Accumulated other comprehensive income | (19,277) | (19,564) |
Common stock held in treasury (3,788 million shares at Sep. 30, 2019 and 3,782 million shares at Dec. 31, 2018) | (225,970) | (225,553) |
ExxonMobil share of equity | 189,915 | 191,794 |
Noncontrolling interests | 7,194 | 6,734 |
Total equity | 197,109 | 198,528 |
Total liabilities and equity | $ 359,361 | $ 346,196 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
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 | 3,788 | 3,782 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement Of Cash Flows - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | ||
Cash flows from operating activities | |||
Net income including noncontrolling interests | $ 9,044 | $ 15,215 | |
Depreciation and depletion | 14,075 | 13,717 | |
Changes in operational working capital, excluding cash and debt | 2,564 | (25) | |
All other items - net | (2,319) | (1,500) | |
Net cash provided by operating activities | 23,364 | 27,407 | |
Cash flows from investing activities | |||
Additions to property, plant and equipment | (17,657) | (13,480) | |
Proceeds associated with sales of subsidiaries, property, plant and equipment, and sales and returns of investments | 600 | 3,239 | |
Additional investments and advances | (2,532) | (1,113) | |
Other investing activities including collection of advances | 769 | 492 | |
Net cash used in investing activities | (18,820) | (10,862) | |
Cash flows from financing activities | |||
Additions to long-term debt | 7,019 | ||
Reductions in short-term debt | (3,836) | (4,279) | |
Additions/(reductions) in commercial paper, and debt with three months or less maturity | [1] | 6,139 | 1,626 |
Cash dividends to ExxonMobil shareholders | (10,936) | (10,296) | |
Cash dividends to noncontrolling interests | (157) | (192) | |
Changes in noncontrolling interests | 30 | (374) | |
Common stock acquired | (421) | (430) | |
Net cash used in financing activities | (2,162) | (13,945) | |
Effects of exchange rate changes on cash | (73) | (108) | |
Increase/(decrease) in cash and cash equivalents | 2,309 | 2,492 | |
Cash and cash equivalents at beginning of period | 3,042 | 3,177 | |
Cash and cash equivalents at end of period | 5,351 | 5,669 | |
Supplemental Disclosures | |||
Income taxes paid | 5,259 | 6,740 | |
Cash interest paid - Included in cash flows from operating activities | 515 | 337 | |
Cash interest paid - capitalized, included in cash flows from investing activities | 540 | 502 | |
Total cash interest paid | $ 1,055 | $ 839 | |
[1] | Includes a net addition of commercial paper with a maturity of over three months of $ 3.1 billion in 2019 and $ 0.3 billion in 2018. The gross amount of commercial paper with a maturity of over three months issued was $ 13.4 billion in 2019 and $ 3.1 billion in 2018, while the gross amount repaid was $ 10.3 billion in 2019 and $ 2.8 billion in 2018. |
Condensed Consolidated Statem_4
Condensed Consolidated Statement Of Cash Flows (Parenthetical) - Maturity Greater Than Three Months [Member] - USD ($) $ in Billions | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Net cash flow from issuance/(repayment) of commercial paper | $ 3.1 | $ 0.3 |
Proceeds from issuance of commercial paper | 13.4 | 3.1 |
Repayments of commercial paper | $ 10.3 | $ 2.8 |
Condensed Consolidated Statem_5
Condensed Consolidated Statement Of Changes In Equity - USD ($) shares in Millions, $ in Millions | Total | ExxonMobil Share Of Common Stock [Member] | ExxonMobil Share Of Earnings Reinvested [Member] | ExxonMobil Share Of Accumulated Other Comprehensive Income [Member] | ExxonMobil Share Of Common Stock Held In Treasury [Member] | ExxonMobil Share Of Equity [Member] | Noncontrolling Interests [Member] |
Balance at Dec. 31, 2017 | $ 194,500 | $ 14,656 | $ 414,540 | $ (16,262) | $ (225,246) | $ 187,688 | $ 6,812 |
Balance (in shares) - issued at Dec. 31, 2017 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2017 | (3,780) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2017 | 4,239 | ||||||
Amortization of stock-based awards | $ 605 | 605 | 605 | ||||
Other | (15) | (7) | (7) | (8) | |||
Net income for the period | 15,215 | 14,840 | 14,840 | 375 | |||
Dividends - common shares (company) | (10,296) | (10,296) | |||||
Dividends - common shares (NCI) | (192) | ||||||
Dividends - common shares (total) | (10,488) | ||||||
Cumulative effect of accounting change | 47 | 71 | (39) | 32 | 15 | ||
Other comprehensive income | (2,239) | (2,069) | (2,069) | (170) | |||
Acquisitions, at cost (company) | $ (430) | (430) | |||||
Acquisitions, at cost (NCI) | (366) | ||||||
Acquisitions, at cost (total) | $ (796) | ||||||
Acquisitions (in shares) | (5) | (5) | |||||
Dispositions | $ 2 | $ 2 | 2 | ||||
Balance at Sep. 30, 2018 | $ 196,831 | 15,254 | 419,155 | (18,370) | (225,674) | 190,365 | 6,466 |
Balance (in shares) - issued at Sep. 30, 2018 | 8,019 | ||||||
Balance (in shares) - in treasury at Sep. 30, 2018 | (3,785) | ||||||
Balance (in shares) - outstanding at Sep. 30, 2018 | 4,234 | ||||||
Balance at Jun. 30, 2018 | $ 193,533 | 15,086 | 416,418 | (18,609) | (225,673) | 187,222 | 6,311 |
Balance (in shares) - issued at Jun. 30, 2018 | 8,019 | ||||||
Balance (in shares) - in treasury at Jun. 30, 2018 | (3,785) | ||||||
Balance (in shares) - outstanding at Jun. 30, 2018 | 4,234 | ||||||
Amortization of stock-based awards | $ 169 | 169 | 169 | ||||
Other | (2) | (1) | (1) | (1) | |||
Net income for the period | 6,446 | 6,240 | 6,240 | 206 | |||
Dividends - common shares (company) | (3,503) | (3,503) | |||||
Dividends - common shares (NCI) | (57) | ||||||
Dividends - common shares (total) | (3,560) | ||||||
Other comprehensive income | 344 | 239 | 239 | 105 | |||
Acquisitions, at cost (company) | (1) | (1) | |||||
Acquisitions, at cost (NCI) | (98) | ||||||
Acquisitions, at cost (total) | (99) | ||||||
Balance at Sep. 30, 2018 | $ 196,831 | 15,254 | 419,155 | (18,370) | (225,674) | 190,365 | 6,466 |
Balance (in shares) - issued at Sep. 30, 2018 | 8,019 | ||||||
Balance (in shares) - in treasury at Sep. 30, 2018 | (3,785) | ||||||
Balance (in shares) - outstanding at Sep. 30, 2018 | 4,234 | ||||||
Balance at Dec. 31, 2018 | $ 198,528 | 15,258 | 421,653 | (19,564) | (225,553) | 191,794 | 6,734 |
Balance (in shares) - issued at Dec. 31, 2018 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2018 | (3,782) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2018 | 4,237 | ||||||
Amortization of stock-based awards | $ 545 | 545 | 545 | ||||
Other | 267 | (8) | (8) | 275 | |||
Net income for the period | 9,044 | 8,650 | 8,650 | 394 | |||
Dividends - common shares (company) | (10,936) | (10,936) | |||||
Dividends - common shares (NCI) | (157) | ||||||
Dividends - common shares (total) | (11,093) | ||||||
Other comprehensive income | 480 | 287 | 287 | 193 | |||
Acquisitions, at cost (company) | $ (421) | (421) | |||||
Acquisitions, at cost (NCI) | (245) | ||||||
Acquisitions, at cost (total) | $ (666) | ||||||
Acquisitions (in shares) | (6) | (6) | |||||
Dispositions | $ 4 | $ 4 | 4 | ||||
Balance at Sep. 30, 2019 | $ 197,109 | 15,795 | 419,367 | (19,277) | (225,970) | 189,915 | 7,194 |
Balance (in shares) - issued at Sep. 30, 2019 | 8,019 | ||||||
Balance (in shares) - in treasury at Sep. 30, 2019 | (3,788) | ||||||
Balance (in shares) - outstanding at Sep. 30, 2019 | 4,231 | ||||||
Balance at Jun. 30, 2019 | $ 198,465 | 15,639 | 419,913 | (18,205) | (225,970) | 191,377 | 7,088 |
Balance (in shares) - issued at Jun. 30, 2019 | 8,019 | ||||||
Balance (in shares) - in treasury at Jun. 30, 2019 | (3,788) | ||||||
Balance (in shares) - outstanding at Jun. 30, 2019 | 4,231 | ||||||
Amortization of stock-based awards | $ 156 | 156 | 156 | ||||
Other | 275 | 275 | |||||
Net income for the period | 3,247 | 3,170 | 3,170 | 77 | |||
Dividends - common shares (company) | (3,716) | (3,716) | |||||
Dividends - common shares (NCI) | (57) | ||||||
Dividends - common shares (total) | (3,773) | ||||||
Other comprehensive income | (1,135) | (1,072) | (1,072) | (63) | |||
Acquisitions, at cost (NCI) | (79) | ||||||
Acquisitions, at cost (total) | (79) | ||||||
Dispositions | (47) | ||||||
Dispositions (NCI) | (47) | ||||||
Balance at Sep. 30, 2019 | $ 197,109 | $ 15,795 | $ 419,367 | $ (19,277) | $ (225,970) | $ 189,915 | $ 7,194 |
Balance (in shares) - issued at Sep. 30, 2019 | 8,019 | ||||||
Balance (in shares) - in treasury at Sep. 30, 2019 | (3,788) | ||||||
Balance (in shares) - outstanding at Sep. 30, 2019 | 4,231 |
Basis Of Financial Statement Pr
Basis Of Financial Statement Preparation | 9 Months Ended |
Sep. 30, 2019 | |
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 2018 Annual Report on Form 10-K. In the opinion of the Corporation, the information furnished herein reflects all known accruals and adjustments necessary for a fair statement of the results for the periods reported herein. All such adjustments are of a normal recurring nature. Prior data has been reclassified in certain cases to conform to the current presentation basis. The Corporation's exploration and production activities are accounted for under the "successful efforts" method. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 9 Months Ended |
Sep. 30, 2019 | |
Accounting Changes [Abstract] | |
Accounting Changes | 2. Accounting Changes Effective January 1, 2019, the Corporation adopted the Financial Accounting Standards Board’s Standard, Leases (Topic 842) , as amended. The standard requires all leases to be recorded on the balance sheet as a right of use asset and a lease liability. The Corporation used a transition method that applies the new lease standard at January 1, 2019. The Corporation applied a policy election to exclude short-term leases from balance sheet recognition and also elected certain practical expedients at adoption. As permitted, the Corporation did not reassess whether existing contracts are or contain leases, the lease classification for any existing leases, initial direct costs for any existing lease and whether existing land easements and rights of way, which were not previously accounted for as leases, are or contain a lease. At adoption on January 1, 2019, an operating lease liability of $ 3.3 billion was recorded and the operating lease right of use asset was $ 4.3 billion, including $ 1.0 billion of previously recorded prepaid leases. There was no cumulative earnings effect adjustment. Effective January 1, 2020, ExxonMobil will adopt the Financial Accounting Standards Board’s update, Financial Instruments – Credit Losses (Topic 326) , as amended. The standard requires a valuation allowance for credit losses be recognized for certain financial assets that reflects the current expected credit loss over the asset’s contractual life. The valuation allowance considers the risk of loss, even if remote, and considers past events, current conditions and expectations of the future. The Corporation does not expect a material change in the credit allowance for trade receivables and continues to evaluate the impact on other financial assets in scope of the standard. |
Litigation And Other Contingenc
Litigation And Other Contingencies | 9 Months Ended |
Sep. 30, 2019 | |
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 but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote. For contingencies where an unfavorable outcome is reasonably possible and which are significant, the Corporation discloses the nature of the contingency and, where feasible, an estimate of the possible loss. For purposes of our contingency disclosures, “significant” includes material matters, as well as other matters which management believes should be disclosed. ExxonMobil will continue to defend itself vigorously in these matters. Based on a consideration of all relevant facts and circumstances, the Corporation does not believe the ultimate outcome of any currently pending lawsuit against ExxonMobil will have a material adverse effect upon the Corporation's operations, financial condition, or financial statements taken as a whole. Other Contingencies The Corporation and certain of its consolidated subsidiaries were contingently liable at September 30, 2019, for guarantees relating to notes, loans and performance under contracts. Where guarantees for environmental remediation and other similar matters do not include a stated cap, the amounts reflect management’s estimate of the maximum potential exposure. These guarantees are not reasonably likely to have a material effect on the Corporation’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. As of September 30, 2019 Equity Other Company Third Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 737 93 830 Other 808 4,580 5,388 Total 1,545 4,673 6,218 (1) ExxonMobil share Additionally, the Corporation and its affiliates have numerous long-term sales and purchase commitments in their various business activities, all of which are expected to be fulfilled with no adverse consequences material to the Corporation’s operations or financial condition. The operations and earnings of the Corporation and its affiliates throughout the world have been, and may in the future be, affected from time to time in varying degree by political developments and laws and regulations, such as forced divestiture of assets; restrictions on production, imports and exports; price controls; tax increases and retroactive tax claims; expropriation of property; cancellation of contract rights and environmental regulations. Both the likelihood of such occurrences and their overall effect upon the Corporation vary greatly from country to country and are not predictable. In accordance with a Venezuelan nationalization decree issued in February 2007, a subsidiary of the Venezuelan National Oil Company (PdVSA) assumed the operatorship of the Cerro Negro Heavy Oil 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. 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. ExxonMobil collected awards of $ 908 million in an arbitration against PdVSA under the rules of the International Chamber of Commerce in respect of an indemnity related to the Cerro Negro Project and $ 260 million in an arbitration for compensation due for the La Ceiba Project and for export curtailments at the Cerro Negro Project under rules of International Centre for Settlement of Investment Disputes (ICSID). An ICSID arbitration award relating to the Cerro Negro Project’s expropriation ($ 1.4 billion) was annulled based on a determination that a prior 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. ExxonMobil filed a new claim seeking to restore the original award of damages for the Cerro Negro Project with ICSID on September 26, 2018. The net impact of this matter 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 operator 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 Contractors 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 award. 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 Nigerian federal high court in order to preserve their ability to seek enforcement of the PSC in the courts if necessary. Following 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 (SDNY) to enforce, if necessary, the arbitration award against NNPC assets residing within that jurisdiction. NNPC moved to dismiss the lawsuit. On September 4, 2019, the SDNY dismissed the Contractors’ petition to recognize and enforce the Erha arbitration award. The Contractors filed a notice of appeal in the Second Circuit on October 2, 2019. 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, 2019 | |
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, 2017 ( 9,482) ( 6,780) ( 16,262) Current period change excluding amounts reclassified from accumulated other comprehensive income ( 2,551) ( 406) ( 2,957) Amounts reclassified from accumulated other comprehensive income 186 663 849 Total change in accumulated other comprehensive income ( 2,365) 257 ( 2,108) Balance as of September 30, 2018 ( 11,847) ( 6,523) ( 18,370) Balance as of December 31, 2018 ( 13,881) ( 5,683) ( 19,564) Current period change excluding amounts reclassified from accumulated other comprehensive income ( 252) 48 ( 204) Amounts reclassified from accumulated other comprehensive income - 491 491 Total change in accumulated other comprehensive income ( 252) 539 287 Balance as of September 30, 2019 ( 14,133) ( 5,144) ( 19,277) Three Months Ended Nine Months Ended Amounts Reclassified Out of Accumulated Other September 30, September 30, Comprehensive Income - Before-tax Income/(Expense) 2019 2018 2019 2018 (millions of dollars) Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) - - - ( 186) 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) ( 236) ( 287) ( 664) ( 897) Three Months Ended Nine Months Ended Income Tax (Expense)/Credit For September 30, September 30, Components of Other Comprehensive Income 2019 2018 2019 2018 (millions of dollars) Foreign exchange translation adjustment 1 8 1 13 Postretirement benefits reserves adjustment (excluding amortization) ( 56) - ( 36) 66 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs ( 50) ( 64) ( 152) ( 208) Total ( 105) ( 56) ( 187) ( 129) |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 5. Earnings Per Share Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Earnings per common share Net income attributable to ExxonMobil (millions of dollars) 3,170 6,240 8,650 14,840 Weighted average number of common shares outstanding (millions of shares) 4,271 4,271 4,270 4,271 Earnings per common share (dollars) (1) 0.75 1.46 2.03 3.47 Dividends paid per common share (dollars) 0.87 0.82 2.56 2.41 (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, 2019 | |
Pension And Other Postretirement Benefits [Abstract] | |
Pension And Other Postretirement Benefits | 6. Pension and Other Postretirement Benefits Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (millions of dollars) Components of net benefit cost Pension Benefits - U.S. Service cost 208 203 563 616 Interest cost 192 179 574 540 Expected return on plan assets ( 143) ( 182) ( 427) ( 545) Amortization of actuarial loss/(gain) and prior service cost 77 93 233 276 Net pension enhancement and curtailment/settlement cost 54 63 161 189 Net benefit cost 388 356 1,104 1,076 Pension Benefits - Non-U.S. Service cost 136 149 413 461 Interest cost 189 185 573 571 Expected return on plan assets ( 192) ( 233) ( 581) ( 722) Amortization of actuarial loss/(gain) and prior service cost 102 113 260 344 Net pension enhancement and curtailment/settlement cost - - - 33 Net benefit cost 235 214 665 687 Other Postretirement Benefits Service cost 38 40 104 111 Interest cost 79 75 237 226 Expected return on plan assets ( 4) ( 5) ( 12) ( 17) Amortization of actuarial loss/(gain) and prior service cost 3 19 10 57 Net benefit cost 116 129 339 377 |
Financial Instruments and Deriv
Financial Instruments and Derivatives | 9 Months Ended |
Sep. 30, 2019 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments and Derivatives | 7. Financial Instruments and Derivatives Financial Instruments. The estimated fair value of financial instruments at September 30, 2019 and December 31, 2018, and the related hierarchy level for the fair value measurement is as follows: At September 30, 2019 (millions of dollars) Fair Value Difference Total Gross Effect of Effect of in Carrying Net Assets Counterparty Collateral Value and Carrying Level 1 Level 2 Level 3 & Liabilities Netting Netting Fair Value Value Assets Derivative assets (1) 483 80 - 563 ( 392) ( 91) - 80 Advances to/receivables from equity companies (2)(7) - 1,934 6,948 8,882 - - ( 149) 8,733 Other long-term financial assets (3) 1,078 - 761 1,839 - - 78 1,917 Liabilities Derivative liabilities (4) 414 58 - 472 ( 392) ( 22) - 58 Long-term debt (5) 25,709 131 4 25,844 - - ( 1,175) 24,669 Long-term obligations to equity companies (7) - - 4,466 4,466 - - ( 234) 4,232 Other long-term financial liabilities (6) - - 1,054 1,054 - - ( 9) 1,045 At December 31, 2018 (millions of dollars) Fair Value Difference Total Gross Effect of Effect of in Carrying Net Assets Counterparty Collateral Value and Carrying Level 1 Level 2 Level 3 & Liabilities Netting Netting Fair Value Value Assets Derivative assets (1) 297 - - 297 ( 151) ( 146) - - Advances to/receivables from equity companies (2)(7) - 2,100 6,293 8,393 - - 215 8,608 Other long-term financial assets (3) 848 - 974 1,822 - - 112 1,934 Liabilities Derivative liabilities (4) 151 - - 151 ( 151) - - - Long-term debt (5) 19,029 117 4 19,150 - - 85 19,235 Long-term obligations to equity companies (7) - - 4,330 4,330 - - 52 4,382 Other long-term financial liabilities (6) - - 1,046 1,046 - - ( 3) 1,043 (1) Included in the Balance Sheet lines: Notes and accounts receivable, less estimated doubtful amounts 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) Included in the Balance Sheet line: Other long-term obligations (7) 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 equity company. The increase in the estimated fair value and book value of long-term debt reflects the Corporation’s issuance of $ 7.0 billion of long-term debt in the third quarter of 2019. The $ 7.0 billion of long-term debt is comprised of $ 750 million of floating-rate notes due in 2022, $ 750 million of 1.902% notes due in 2022, $ 1,000 million of 2.019% notes due in 2024, $ 1,000 million of 2.275% notes due in 2026, $ 1,250 million of 2.440% notes due in 2029, $ 750 million of 2.995% notes due in 2039, and $ 1,500 million of 3.095% notes due in 2049. Additionally, the Corporation replaced a $ 5.0 billion short-term committed line of credit with a $ 7.5 billion short-term committed line of credit in the third quarter of 2019. Derivative Instruments. The Corporation’s size, strong capital structure, geographic diversity and the complementary nature of the Upstream, Downstream and Chemical businesses reduce the Corporation’s enterprise-wide risk from changes in commodity prices, currency rates and interest rates. In addition, the Corporation uses commodity-based contracts, including derivatives, to manage commodity price risk and for trading purposes. Commodity contracts held for trading purposes are presented in the Consolidated Statement of Income on a net basis in the line “Sales and other operating revenue.” The Corporation’s commodity derivatives are not accounted for under hedge accounting. At times, the Corporation also enters into currency and interest rate derivatives, none of which are material to the Corporation’s financial position as of September 30, 2019 and December 31, 2018, or results of operations for the periods ended September 30, 2019 and 2018. 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. At September 30, 2019, the net notional long/(short) position of derivative instruments was 12 million barrels for crude oil, ( 50) million barrels for products, and ( 146) million MMBtus of natural gas. At December 31, 2018, the net notional long/(short) position of derivative instruments was ( 19) million barrels for crude oil and ( 9) million barrels for products. Realized and unrealized gains/(losses) on derivative instruments that were recognized in the Consolidated Statement of Income are included in the following lines on a before-tax basis: Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (millions of dollars) Sales and other operating revenue 144 ( 68) ( 98) ( 72) Crude oil and product purchases 60 ( 107) 75 ( 380) Total 204 ( 175) ( 23) ( 452) |
Disclosures About Segments And
Disclosures About Segments And Related Information | 9 Months Ended |
Sep. 30, 2019 | |
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, 2019 2018 2019 2018 Earnings After Income Tax (millions of dollars) Upstream United States 37 606 468 1,474 Non-U.S. 2,131 3,623 7,837 9,292 Downstream United States 673 961 822 1,975 Non-U.S. 557 681 603 1,331 Chemical United States 53 404 208 1,360 Non-U.S. 188 309 739 1,254 Corporate and financing ( 469) ( 344) ( 2,027) ( 1,846) Corporate total 3,170 6,240 8,650 14,840 Sales and Other Operating Revenue Upstream United States 1,941 2,728 7,228 7,637 Non-U.S. 3,069 4,129 10,582 11,344 Downstream United States 18,358 19,963 52,721 56,616 Non-U.S. 33,391 39,077 100,994 110,855 Chemical United States 2,412 3,152 7,421 9,160 Non-U.S. 4,241 5,125 13,583 15,429 Corporate and financing 10 13 30 38 Corporate total 63,422 74,187 192,559 211,079 Intersegment Revenue Upstream United States 2,876 2,203 7,828 6,336 Non-U.S. 7,383 8,536 22,888 22,788 Downstream United States 5,439 5,834 16,942 16,527 Non-U.S. 5,826 8,275 18,563 22,975 Chemical United States 1,489 2,408 5,947 6,952 Non-U.S. 1,413 1,841 4,543 5,657 Corporate and financing 60 54 168 153 Geographic Three Months Ended Nine Months Ended September 30, September 30, Sales and Other Operating Revenue 2019 2018 2019 2018 (millions of dollars) United States 22,711 25,843 67,370 73,413 Non-U.S. 40,711 48,344 125,189 137,666 Total 63,422 74,187 192,559 211,079 Significant Non-U.S. revenue sources include: (1) Canada 4,945 6,214 15,141 17,752 United Kingdom 4,042 4,797 13,244 14,240 France 3,266 3,588 9,597 10,405 Belgium 2,598 3,996 9,371 12,063 Singapore 2,942 3,502 9,197 10,387 Italy 2,691 3,316 7,830 9,684 Australia 2,100 2,348 5,948 6,464 Germany 1,964 2,518 5,879 7,184 (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. |
Leases
Leases | 9 Months Ended |
Sep. 30, 2019 | |
Lessee Disclosure [Abstract] | |
Leases | 9. Leases The Corporation and its consolidated affiliates generally purchase the property, plant and equipment used in operations, but there are situations where assets are leased, primarily for drilling equipment, tankers, office buildings, railcars, and other moveable equipment. Right of use assets and lease liabilities are established on the balance sheet for leases with an expected term greater than one year, by discounting the amounts fixed in the lease agreement for the duration of the lease which is reasonably certain, considering the probability of exercising any early termination and extension options. The portion of the fixed payment related to service costs for drilling equipment and tankers is excluded from the calculation of right of use assets and lease liabilities. Generally assets are leased only for a portion of their useful lives, and are accounted for as operating leases. In limited situations assets are leased for nearly all of their useful lives, and are accounted for as finance leases. Variable payments under these lease agreements are not significant. Residual value guarantees, restrictions, or covenants related to leases, and transactions with related parties are also not significant. In general, leases are capitalized using the incremental borrowing rate of the leasing affiliate. The Corporation’s activities as a lessor are not significant. At adoption of the lease accounting change (see Note 2), on January 1, 2019, an operating lease liability of $ 3.3 billion was recorded and the operating lease right of use asset was $ 4.3 billion, including $ 1.0 billion of previously recorded prepaid leases. There was no Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Lease Cost Three Months Ended September 30, 2019 Operating lease cost 65 310 375 Short-term and other (net of sublease rental income) 259 216 475 Amortization of right of use assets 29 Interest on lease liabilities 35 Total 324 526 850 64 Lease Cost Nine Months Ended September 30, 2019 Operating lease cost 162 878 1,040 Short-term and other (net of sublease rental income) 712 846 1,558 Amortization of right of use assets 91 Interest on lease liabilities 102 Total 874 1,724 2,598 193 Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Balance Sheet September 30, 2019 Right of use assets Included in Other assets, including intangibles - net 634 5,919 6,553 Included in Property, plant and equipment - net 1,499 Total right of use assets 634 5,919 6,553 1,499 Lease liability due within one year Included in Accounts payable and accrued liabilities 230 952 1,182 23 Included in Notes and loans payable 169 Long-term lease liability Included in Other long-term obligations 383 4,014 4,397 Included in Long-term debt 1,281 Included in Long-term obligations to equity companies 139 Total lease liability 613 4,966 5,579 1,612 Maturity Analysis of Lease Liabilities September 30, 2019 2019 remaining months 58 299 357 173 2020 234 1,026 1,260 205 2021 138 795 933 182 2022 79 557 636 174 2023 44 451 495 173 2024 29 406 435 172 2025 and beyond 71 2,390 2,461 2,427 Total lease payments 653 5,924 6,577 3,506 Discount to present value ( 40) ( 958) ( 998) ( 1,894) Total lease liability 613 4,966 5,579 1,612 Weighted average remaining lease term - years 4 10 10 25 Weighted average discount rate - percent 3.0% 3.2% 3.2% 9.8% In addition to the lease liabilities in the table immediately above, at September 30, 2019, undiscounted commitments for leases not yet commenced totaled $ 0.7 billion for operating leases and $ 3.4 billion for finance leases. The finance leases relate to floating production storage and offloading vessels and a long-term hydrogen purchase agreement. The underlying assets for these finance leases were primarily designed by, and are being constructed by, the lessors. Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Other Information Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities Cash flows from operating activities 799 799 41 Cash flows from investing activities 192 192 Cash flows from financing activities 48 Noncash right of use assets recorded for lease liabilities For January 1 adoption of Topic 842 445 2,818 3,263 In exchange for new lease liabilities during the period 341 2,872 3,213 At December 31, 2018, the Corporation and its consolidated subsidiaries held noncancelable operating leases and charters covering drilling equipment, tankers and other assets with minimum undiscounted lease commitments totaling $ 6,112 million as indicated in the table. Estimated related sublease rental income from noncancelable subleases totals $ 22 million. Lease Payments Under Minimum Commitments As of December 31, 2018 Drilling Rigs and Related Equipment Other Total (millions of dollars) 2019 222 934 1,156 2020 166 819 985 2021 107 658 765 2022 43 506 549 2023 32 422 454 2024 and beyond 53 2,150 2,203 Total 623 5,489 6,112 Net rental cost under both cancelable and noncancelable operating leases incurred during 2018, 2017 and 2016 were as follows: For full year 2018 2017 2016 (millions of dollars) Rental cost Drilling rigs and related equipment 723 792 1,274 Other (net of sublease rental income) 1,992 1,826 1,817 Total 2,715 2,618 3,091 |
Accounting for Suspended Explor
Accounting for Suspended Exploratory Well Costs | 9 Months Ended |
Sep. 30, 2019 | |
Accounting for Suspended 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 2018 that were suspended more than one year, a total of $ 18 million was expensed in the first nine months of 2019. |
Sale of Norway Assets
Sale of Norway Assets | 9 Months Ended |
Sep. 30, 2019 | |
Sale of Norway Assets [Abstract] | |
Sale of Norway Assets | 11. Sale of Norway Assets ExxonMobil signed an agreement with Vår Energi AS (Vår) for the sale of its non-operated upstream assets in Norway for $ 4.5 billion. The transaction is expected to close in the fourth quarter of 2019 , subject to standard conditions precedent, including customary approvals from regulatory authorities. The agreed sales price of $ 4.5 billion is subject to interim period adjustments from the effective date of January 1, 2019, to the closing date, and obligations for income taxes from the effective date will transfer to Vår. Estimated total cash flow from the divestment is around $ 3.5 billion after closing adjustments, with expected 2019 cash proceeds of around $ 2.6 billion and estimated cash flow in future periods associated with deferred consideration of $ 0.3 billion and an estimated refund of income tax payments of $ 0.6 billion. The Corporation expects to recognize a gain of approximately $ 3.5 billion at closing. Estimated gain and net cash flow could change significantly due to market factors and timing of close. |
Summary of Accounting Policies
Summary of Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2019 | |
Summary of Accounting Policies [Abstract] | |
Derivatives, Policy [Text Block] | Commodity contracts held for trading purposes are presented in the Consolidated Statement of Income on a net basis in the line “Sales and other operating revenue.” The Corporation’s commodity derivatives are not accounted for under hedge accounting. |
Lessee Leases Policy [Text Block] | The Corporation applied a policy election to exclude short-term leases from balance sheet recognition and also elected certain practical expedients at adoption. As permitted, the Corporation did not reassess whether existing contracts are or contain leases, the lease classification for any existing leases, initial direct costs for any existing lease and whether existing land easements and rights of way, which were not previously accounted for as leases, are or contain a lease. Right of use assets and lease liabilities are established on the balance sheet for leases with an expected term greater than one year, by discounting the amounts fixed in the lease agreement for the duration of the lease which is reasonably certain, considering the probability of exercising any early termination and extension options. The portion of the fixed payment related to service costs for drilling equipment and tankers is excluded from the calculation of right of use assets and lease liabilities. In general, leases are capitalized using the incremental borrowing rate of the leasing affiliate. |
Litigation And Other Continge_2
Litigation And Other Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Litigation And Other Contingencies [Abstract] | |
Schedule Of Guarantees | As of September 30, 2019 Equity Other Company Third Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 737 93 830 Other 808 4,580 5,388 Total 1,545 4,673 6,218 (1) ExxonMobil share |
Other Comprehensive Income In_2
Other Comprehensive Income Information (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
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, 2017 ( 9,482) ( 6,780) ( 16,262) Current period change excluding amounts reclassified from accumulated other comprehensive income ( 2,551) ( 406) ( 2,957) Amounts reclassified from accumulated other comprehensive income 186 663 849 Total change in accumulated other comprehensive income ( 2,365) 257 ( 2,108) Balance as of September 30, 2018 ( 11,847) ( 6,523) ( 18,370) Balance as of December 31, 2018 ( 13,881) ( 5,683) ( 19,564) Current period change excluding amounts reclassified from accumulated other comprehensive income ( 252) 48 ( 204) Amounts reclassified from accumulated other comprehensive income - 491 491 Total change in accumulated other comprehensive income ( 252) 539 287 Balance as of September 30, 2019 ( 14,133) ( 5,144) ( 19,277) |
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) 2019 2018 2019 2018 (millions of dollars) Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other income) - - - ( 186) 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) ( 236) ( 287) ( 664) ( 897) |
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 2019 2018 2019 2018 (millions of dollars) Foreign exchange translation adjustment 1 8 1 13 Postretirement benefits reserves adjustment (excluding amortization) ( 56) - ( 36) 66 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs ( 50) ( 64) ( 152) ( 208) Total ( 105) ( 56) ( 187) ( 129) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Computation | Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Earnings per common share Net income attributable to ExxonMobil (millions of dollars) 3,170 6,240 8,650 14,840 Weighted average number of common shares outstanding (millions of shares) 4,271 4,271 4,270 4,271 Earnings per common share (dollars) (1) 0.75 1.46 2.03 3.47 Dividends paid per common share (dollars) 0.87 0.82 2.56 2.41 (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 Postretirem_2
Pension And Other Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Pension And Other Postretirement Benefits [Abstract] | |
Pension And Other Postretirement Benefits | Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (millions of dollars) Components of net benefit cost Pension Benefits - U.S. Service cost 208 203 563 616 Interest cost 192 179 574 540 Expected return on plan assets ( 143) ( 182) ( 427) ( 545) Amortization of actuarial loss/(gain) and prior service cost 77 93 233 276 Net pension enhancement and curtailment/settlement cost 54 63 161 189 Net benefit cost 388 356 1,104 1,076 Pension Benefits - Non-U.S. Service cost 136 149 413 461 Interest cost 189 185 573 571 Expected return on plan assets ( 192) ( 233) ( 581) ( 722) Amortization of actuarial loss/(gain) and prior service cost 102 113 260 344 Net pension enhancement and curtailment/settlement cost - - - 33 Net benefit cost 235 214 665 687 Other Postretirement Benefits Service cost 38 40 104 111 Interest cost 79 75 237 226 Expected return on plan assets ( 4) ( 5) ( 12) ( 17) Amortization of actuarial loss/(gain) and prior service cost 3 19 10 57 Net benefit cost 116 129 339 377 |
Financial Instruments and Der_2
Financial Instruments and Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments | At September 30, 2019 (millions of dollars) Fair Value Difference Total Gross Effect of Effect of in Carrying Net Assets Counterparty Collateral Value and Carrying Level 1 Level 2 Level 3 & Liabilities Netting Netting Fair Value Value Assets Derivative assets (1) 483 80 - 563 ( 392) ( 91) - 80 Advances to/receivables from equity companies (2)(7) - 1,934 6,948 8,882 - - ( 149) 8,733 Other long-term financial assets (3) 1,078 - 761 1,839 - - 78 1,917 Liabilities Derivative liabilities (4) 414 58 - 472 ( 392) ( 22) - 58 Long-term debt (5) 25,709 131 4 25,844 - - ( 1,175) 24,669 Long-term obligations to equity companies (7) - - 4,466 4,466 - - ( 234) 4,232 Other long-term financial liabilities (6) - - 1,054 1,054 - - ( 9) 1,045 At December 31, 2018 (millions of dollars) Fair Value Difference Total Gross Effect of Effect of in Carrying Net Assets Counterparty Collateral Value and Carrying Level 1 Level 2 Level 3 & Liabilities Netting Netting Fair Value Value Assets Derivative assets (1) 297 - - 297 ( 151) ( 146) - - Advances to/receivables from equity companies (2)(7) - 2,100 6,293 8,393 - - 215 8,608 Other long-term financial assets (3) 848 - 974 1,822 - - 112 1,934 Liabilities Derivative liabilities (4) 151 - - 151 ( 151) - - - Long-term debt (5) 19,029 117 4 19,150 - - 85 19,235 Long-term obligations to equity companies (7) - - 4,330 4,330 - - 52 4,382 Other long-term financial liabilities (6) - - 1,046 1,046 - - ( 3) 1,043 (1) Included in the Balance Sheet lines: Notes and accounts receivable, less estimated doubtful amounts 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) Included in the Balance Sheet line: Other long-term obligations (7) 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 equity company. |
Derivative Instruments - Before-Tax Realized and Unrealized Gains / (Losses) | Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 (millions of dollars) Sales and other operating revenue 144 ( 68) ( 98) ( 72) Crude oil and product purchases 60 ( 107) 75 ( 380) Total 204 ( 175) ( 23) ( 452) |
Disclosures About Segments An_2
Disclosures About Segments And Related Information (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Disclosures About Segments And Related Information [Abstract] | |
Disclosures About Segments And Related Information | Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Earnings After Income Tax (millions of dollars) Upstream United States 37 606 468 1,474 Non-U.S. 2,131 3,623 7,837 9,292 Downstream United States 673 961 822 1,975 Non-U.S. 557 681 603 1,331 Chemical United States 53 404 208 1,360 Non-U.S. 188 309 739 1,254 Corporate and financing ( 469) ( 344) ( 2,027) ( 1,846) Corporate total 3,170 6,240 8,650 14,840 Sales and Other Operating Revenue Upstream United States 1,941 2,728 7,228 7,637 Non-U.S. 3,069 4,129 10,582 11,344 Downstream United States 18,358 19,963 52,721 56,616 Non-U.S. 33,391 39,077 100,994 110,855 Chemical United States 2,412 3,152 7,421 9,160 Non-U.S. 4,241 5,125 13,583 15,429 Corporate and financing 10 13 30 38 Corporate total 63,422 74,187 192,559 211,079 Intersegment Revenue Upstream United States 2,876 2,203 7,828 6,336 Non-U.S. 7,383 8,536 22,888 22,788 Downstream United States 5,439 5,834 16,942 16,527 Non-U.S. 5,826 8,275 18,563 22,975 Chemical United States 1,489 2,408 5,947 6,952 Non-U.S. 1,413 1,841 4,543 5,657 Corporate and financing 60 54 168 153 |
Geographic Sales And Other Operating Revenue | Geographic Three Months Ended Nine Months Ended September 30, September 30, Sales and Other Operating Revenue 2019 2018 2019 2018 (millions of dollars) United States 22,711 25,843 67,370 73,413 Non-U.S. 40,711 48,344 125,189 137,666 Total 63,422 74,187 192,559 211,079 Significant Non-U.S. revenue sources include: (1) Canada 4,945 6,214 15,141 17,752 United Kingdom 4,042 4,797 13,244 14,240 France 3,266 3,588 9,597 10,405 Belgium 2,598 3,996 9,371 12,063 Singapore 2,942 3,502 9,197 10,387 Italy 2,691 3,316 7,830 9,684 Australia 2,100 2,348 5,948 6,464 Germany 1,964 2,518 5,879 7,184 (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. |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Lease Cost | Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Lease Cost Three Months Ended September 30, 2019 Operating lease cost 65 310 375 Short-term and other (net of sublease rental income) 259 216 475 Amortization of right of use assets 29 Interest on lease liabilities 35 Total 324 526 850 64 Lease Cost Nine Months Ended September 30, 2019 Operating lease cost 162 878 1,040 Short-term and other (net of sublease rental income) 712 846 1,558 Amortization of right of use assets 91 Interest on lease liabilities 102 Total 874 1,724 2,598 193 |
Right Of Use Assets And Lease Liabilities | Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Balance Sheet September 30, 2019 Right of use assets Included in Other assets, including intangibles - net 634 5,919 6,553 Included in Property, plant and equipment - net 1,499 Total right of use assets 634 5,919 6,553 1,499 Lease liability due within one year Included in Accounts payable and accrued liabilities 230 952 1,182 23 Included in Notes and loans payable 169 Long-term lease liability Included in Other long-term obligations 383 4,014 4,397 Included in Long-term debt 1,281 Included in Long-term obligations to equity companies 139 Total lease liability 613 4,966 5,579 1,612 |
Maturity Analysis of Operating Leased Facilities | Maturity Analysis of Lease Liabilities September 30, 2019 2019 remaining months 58 299 357 173 2020 234 1,026 1,260 205 2021 138 795 933 182 2022 79 557 636 174 2023 44 451 495 173 2024 29 406 435 172 2025 and beyond 71 2,390 2,461 2,427 Total lease payments 653 5,924 6,577 3,506 Discount to present value ( 40) ( 958) ( 998) ( 1,894) Total lease liability 613 4,966 5,579 1,612 Weighted average remaining lease term - years 4 10 10 25 Weighted average discount rate - percent 3.0% 3.2% 3.2% 9.8% |
Maturity Analysis of Finance Leased Facilities | Maturity Analysis of Lease Liabilities September 30, 2019 2019 remaining months 58 299 357 173 2020 234 1,026 1,260 205 2021 138 795 933 182 2022 79 557 636 174 2023 44 451 495 173 2024 29 406 435 172 2025 and beyond 71 2,390 2,461 2,427 Total lease payments 653 5,924 6,577 3,506 Discount to present value ( 40) ( 958) ( 998) ( 1,894) Total lease liability 613 4,966 5,579 1,612 Weighted average remaining lease term - years 4 10 10 25 Weighted average discount rate - percent 3.0% 3.2% 3.2% 9.8% |
Operating And Finance Leases Other Information | Operating Leases Drilling Rigs and Related Finance Equipment Other Total Leases (millions of dollars) Other Information Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities Cash flows from operating activities 799 799 41 Cash flows from investing activities 192 192 Cash flows from financing activities 48 Noncash right of use assets recorded for lease liabilities For January 1 adoption of Topic 842 445 2,818 3,263 In exchange for new lease liabilities during the period 341 2,872 3,213 |
Lease Payments Under Minimum Commitments | Lease Payments Under Minimum Commitments As of December 31, 2018 Drilling Rigs and Related Equipment Other Total (millions of dollars) 2019 222 934 1,156 2020 166 819 985 2021 107 658 765 2022 43 506 549 2023 32 422 454 2024 and beyond 53 2,150 2,203 Total 623 5,489 6,112 |
Net Rental Cost | For full year 2018 2017 2016 (millions of dollars) Rental cost Drilling rigs and related equipment 723 792 1,274 Other (net of sublease rental income) 1,992 1,826 1,817 Total 2,715 2,618 3,091 |
Accounting Changes (Narrative)
Accounting Changes (Narrative) (Details) $ in Billions | Jan. 01, 2019USD ($) |
Accounting Changes [Abstract] | |
Operating lease liability | $ 3.3 |
Operating lease right of use asset | 4.3 |
Previously recorded prepaid lease | 1 |
Cumulative earnings effect adjustment | $ 0 |
Litigation And Other Continge_3
Litigation And Other Contingencies (Narrative) (Details) - USD ($) $ in Millions | Mar. 09, 2017 | Oct. 09, 2014 | Oct. 24, 2011 | Jun. 27, 2007 |
Nigeria Production Sharing Contract Litigation [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% | |||
Cerro Negro award for breach of contractual obligations | $ 908 | |||
Annulled portion of award for Cerro Negro Project | $ 1,400 | |||
Award collected from Venezuela for Cerro Negro and La Ceiba Projects | $ 260 |
Litigation And Other Continge_4
Litigation And Other Contingencies (Schedule Of Guarantees) (Details) $ in Millions | Sep. 30, 2019USD ($) | |
Litigation And Other Contingencies [Line Items] | ||
Guarantees | $ 6,218 | |
Equity Company Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 1,545 | [1] |
Other Third Party Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 4,673 | |
Debt Related Guarantees [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 830 | |
Debt Related Guarantees [Member] | Equity Company Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 737 | [1] |
Debt Related Guarantees [Member] | Other Third Party Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 93 | |
Other Guarantees [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 5,388 | |
Other Guarantees [Member] | Equity Company Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | 808 | [1] |
Other Guarantees [Member] | Other Third Party Obligations [Member] | ||
Litigation And Other Contingencies [Line Items] | ||
Guarantees | $ 4,580 | |
[1] | ExxonMobil share |
Other Comprehensive Income In_3
Other Comprehensive Income Information (Schedule Of Accumulated Other Comprehensive Income Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
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 | $ (1,424) | $ 124 | $ (75) | $ (2,720) |
Amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 186 | |||
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 | 103 | (3) | 43 | (394) |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 186 | 223 | 512 | 689 |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||||
Beginning Balance, Total | (19,564) | |||
Ending Balance, Total | (19,277) | (19,277) | ||
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 | (13,881) | (9,482) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | (252) | (2,551) | ||
Amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | 186 | |||
Total change in accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | (252) | (2,365) | ||
Ending Balance, Cumulative Foreign Exchange Translation Adjustment | (14,133) | (11,847) | (14,133) | (11,847) |
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease [Abstract] | ||||
Beginning Balance, Postretirement Benefits Reserves Adjustment | (5,683) | (6,780) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 48 | (406) | ||
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 491 | 663 | ||
Total change in accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 539 | 257 | ||
Ending Balance, Postretirement Benefits Reserves Adjustment | (5,144) | (6,523) | (5,144) | (6,523) |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||||
Beginning Balance, Total | (19,564) | (16,262) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Total | (204) | (2,957) | ||
Amounts reclassified from accumulated other comprehensive income, Total | 491 | 849 | ||
Total change in accumulated other comprehensive income, Total | 287 | (2,108) | ||
Ending Balance, Total | $ (19,277) | $ (18,370) | $ (19,277) | $ (18,370) |
Other Comprehensive Income In_4
Other Comprehensive Income Information (Amounts Reclassified Out Of Acc Other Comp Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Other Comprehensive Income Loss Before Tax [Abstract] | ||||
Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other Income) | $ (186) | |||
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) | $ (236) | $ (287) | $ (664) | $ (897) |
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 | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Other Comprehensive Income Information [Abstract] | ||||
Foreign exchange translation adjustment | $ 1 | $ 8 | $ 1 | $ 13 |
Postretirement benefits reserves adjustment (excluding amortization) | (56) | (36) | 66 | |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | (50) | (64) | (152) | (208) |
Total | $ (105) | $ (56) | $ (187) | $ (129) |
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, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Earnings per common share | |||||
Net income attributable to ExxonMobil | $ 3,170 | $ 6,240 | $ 8,650 | $ 14,840 | |
Weighted average number of common shares outstanding | 4,271 | 4,271 | 4,270 | 4,271 | |
Earnings per common share (dollars) | [1] | $ 0.75 | $ 1.46 | $ 2.03 | $ 3.47 |
Dividends paid per common share (dollars) | $ 0.87 | $ 0.82 | $ 2.56 | $ 2.41 | |
[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 Postretirem_3
Pension And Other Postretirement Benefits (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Pension Benefits - U.S. | ||||
Service cost | $ 208 | $ 203 | $ 563 | $ 616 |
Interest cost | 192 | 179 | 574 | 540 |
Expected return on plan assets | (143) | (182) | (427) | (545) |
Amortization of actuarial loss/(gain) and prior service cost | 77 | 93 | 233 | 276 |
Net pension enhancement and curtailment/settlement cost | 54 | 63 | 161 | 189 |
Net benefit cost | 388 | 356 | 1,104 | 1,076 |
Pension Benefits - Non-U.S. [Member] | ||||
Service cost | 136 | 149 | 413 | 461 |
Interest cost | 189 | 185 | 573 | 571 |
Expected return on plan assets | (192) | (233) | (581) | (722) |
Amortization of actuarial loss/(gain) and prior service cost | 102 | 113 | 260 | 344 |
Net pension enhancement and curtailment/settlement cost | 33 | |||
Net benefit cost | 235 | 214 | 665 | 687 |
Other Postretirement Benefits [Member] | ||||
Service cost | 38 | 40 | 104 | 111 |
Interest cost | 79 | 75 | 237 | 226 |
Expected return on plan assets | (4) | (5) | (12) | (17) |
Amortization of actuarial loss/(gain) and prior service cost | 3 | 19 | 10 | 57 |
Net benefit cost | $ 116 | $ 129 | $ 339 | $ 377 |
Financial Instruments and Der_3
Financial Instruments and Derivatives (Narrative) (Details) bbl in Millions, MMBTU in Millions, $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2019USD ($)MMBTUbbl | Dec. 31, 2018USD ($)bbl | |
Debt Instrument [Line Items] | ||
Additions to long-term debt | $ 7,000 | |
Short-term committed line of credit | 7,500 | $ 5,000 |
Floating-Rate Notes Due 2022 (Issued 2019) [Member] | ||
Debt Instrument [Line Items] | ||
Additions to long-term debt | $ 750 | |
Debt Instrument Maturity Date | Aug. 16, 2022 | |
1.902% Notes Due in 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Additions to long-term debt | $ 750 | |
Interest rate | 1.902% | |
Debt Instrument Maturity Date | Aug. 16, 2022 | |
2.019% Notes Due in 2024 [Member] | ||
Debt Instrument [Line Items] | ||
Additions to long-term debt | $ 1,000 | |
Interest rate | 2.019% | |
Debt Instrument Maturity Date | Aug. 16, 2024 | |
2.275% Notes Due in 2026 [Member] | ||
Debt Instrument [Line Items] | ||
Additions to long-term debt | $ 1,000 | |
Interest rate | 2.275% | |
Debt Instrument Maturity Date | Aug. 16, 2026 | |
2.440% Notes Due in 2029 [Member] | ||
Debt Instrument [Line Items] | ||
Additions to long-term debt | $ 1,250 | |
Interest rate | 2.44% | |
Debt Instrument Maturity Date | Aug. 16, 2029 | |
2.995% Notes Due in 2039 [Member] | ||
Debt Instrument [Line Items] | ||
Additions to long-term debt | $ 750 | |
Interest rate | 2.995% | |
Debt Instrument Maturity Date | Aug. 16, 2039 | |
3.095% Notes Due in 2049 [Member] | ||
Debt Instrument [Line Items] | ||
Additions to long-term debt | $ 1,500 | |
Interest rate | 3.095% | |
Debt Instrument Maturity Date | Aug. 16, 2049 | |
Crude Oil [Member] | Long [Member] | ||
Net notional long / short position of derivative instruments bbl | bbl | 12 | |
Crude Oil [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments bbl | bbl | 19 | |
Products [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments bbl | bbl | 50 | 9 |
Natural Gas [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments MMBtus | MMBTU | 146 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Total Gross Assets & Liabilities [Domain] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | $ 563 | $ 297 |
Advances to/receivables from equity companies | [2],[3] | 8,882 | 8,393 |
Other long-term financial assets | [4] | 1,839 | 1,822 |
Derivative liabilities | [5] | 472 | 151 |
Long-term debt | [6] | 25,844 | 19,150 |
Long-term obligations to equity companies | [2] | 4,466 | 4,330 |
Other long-term financial liabilities | [7] | 1,054 | 1,046 |
Net Carrying Value [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | 80 | |
Advances to/receivables from equity companies | [2],[3] | 8,733 | 8,608 |
Other long-term financial assets | [4] | 1,917 | 1,934 |
Derivative liabilities | [5] | 58 | |
Long-term debt | [6] | 24,669 | 19,235 |
Long-term obligations to equity companies | [2] | 4,232 | 4,382 |
Other long-term financial liabilities | [7] | 1,045 | 1,043 |
Effect Of Counterparty Netting [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | (392) | (151) |
Derivative liabilities | [5] | (392) | (151) |
Effect Of Collateral Netting [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | (91) | (146) |
Derivative liabilities | [5] | (22) | |
Difference In Carrying Value And Fair Value [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Advances to/receivables from equity companies | [2],[3] | (149) | 215 |
Other long-term financial assets | [4] | 78 | 112 |
Long-term debt | [6] | (1,175) | 85 |
Long-term obligations to equity companies | [2] | (234) | 52 |
Other long-term financial liabilities | [7] | (9) | (3) |
Level 1 [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | 483 | 297 |
Other long-term financial assets | [4] | 1,078 | 848 |
Derivative liabilities | [5] | 414 | 151 |
Long-term debt | [6] | 25,709 | 19,029 |
Level 2 [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Derivative assets | [1] | 80 | |
Advances to/receivables from equity companies | [2],[3] | 1,934 | 2,100 |
Derivative liabilities | [5] | 58 | |
Long-term debt | [6] | 131 | 117 |
Level 3 [Member] | |||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | |||
Advances to/receivables from equity companies | [2],[3] | 6,948 | 6,293 |
Other long-term financial assets | [4] | 761 | 974 |
Long-term debt | [6] | 4 | 4 |
Long-term obligations to equity companies | [2] | 4,466 | 4,330 |
Other long-term financial liabilities | [7] | $ 1,054 | $ 1,046 |
[1] | Included in the Balance Sheet lines: Notes and accounts receivable, less estimated doubtful amounts and Other assets, including intangibles, net | ||
[2] | 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 equity company. | ||
[3] | Included in the Balance Sheet line: Investments, advances and long-term receivables | ||
[4] | Included in the Balance Sheet lines: Investments, advances and long-term receivables and Other assets, including intangibles, net | ||
[5] | Included in the Balance Sheet lines: Accounts payable and accrued liabilities and Other long-term obligations | ||
[6] | Excluding finance lease obligations | ||
[7] | Included in the Balance Sheet line: Other long-term obligations |
Derivative Instruments (Details
Derivative Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Realized and Unrealized Before-Tax Gain / (Loss) on Derivative Instruments Recognized in the Consolidated Statement of Income | ||||
Sales and other operating revenue | $ 63,422 | $ 74,187 | $ 192,559 | $ 211,079 |
Crude oil and product purchases | 35,290 | 41,776 | 109,033 | 119,391 |
Not Designated as Hedging Instrument [Member] | ||||
Realized and Unrealized Before-Tax Gain / (Loss) on Derivative Instruments Recognized in the Consolidated Statement of Income | ||||
Sales and other operating revenue | 144 | (68) | (98) | (72) |
Crude oil and product purchases | 60 | (107) | 75 | (380) |
Total | $ 204 | $ (175) | $ (23) | $ (452) |
Disclosures About Segments An_3
Disclosures About Segments And Related Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Segment Reporting Information [Line Items] | ||||
Earnings after income tax | $ 3,170 | $ 6,240 | $ 8,650 | $ 14,840 |
Sales and other operating revenue | 63,422 | 74,187 | 192,559 | 211,079 |
Upstream United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings after income tax | 37 | 606 | 468 | 1,474 |
Sales and other operating revenue | 1,941 | 2,728 | 7,228 | 7,637 |
Intersegment Revenue | 2,876 | 2,203 | 7,828 | 6,336 |
Upstream Non-U.S. [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings after income tax | 2,131 | 3,623 | 7,837 | 9,292 |
Sales and other operating revenue | 3,069 | 4,129 | 10,582 | 11,344 |
Intersegment Revenue | 7,383 | 8,536 | 22,888 | 22,788 |
Downstream United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings after income tax | 673 | 961 | 822 | 1,975 |
Sales and other operating revenue | 18,358 | 19,963 | 52,721 | 56,616 |
Intersegment Revenue | 5,439 | 5,834 | 16,942 | 16,527 |
Downstream Non-U.S. [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings after income tax | 557 | 681 | 603 | 1,331 |
Sales and other operating revenue | 33,391 | 39,077 | 100,994 | 110,855 |
Intersegment Revenue | 5,826 | 8,275 | 18,563 | 22,975 |
Chemical United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings after income tax | 53 | 404 | 208 | 1,360 |
Sales and other operating revenue | 2,412 | 3,152 | 7,421 | 9,160 |
Intersegment Revenue | 1,489 | 2,408 | 5,947 | 6,952 |
Chemical Non-U.S. [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings after income tax | 188 | 309 | 739 | 1,254 |
Sales and other operating revenue | 4,241 | 5,125 | 13,583 | 15,429 |
Intersegment Revenue | 1,413 | 1,841 | 4,543 | 5,657 |
Corporate And Financing [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings after income tax | (469) | (344) | (2,027) | (1,846) |
Sales and other operating revenue | 10 | 13 | 30 | 38 |
Intersegment Revenue | $ 60 | $ 54 | $ 168 | $ 153 |
Disclosures About Segments An_4
Disclosures About Segments And Related Information (Schedule of Geographic Sales And Operating Revenue) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | $ 63,422 | $ 74,187 | $ 192,559 | $ 211,079 | |
U.S. [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | 22,711 | 25,843 | 67,370 | 73,413 | |
Non-U.S. [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | 40,711 | 48,344 | 125,189 | 137,666 | |
Canada [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 4,945 | 6,214 | 15,141 | 17,752 |
United Kingdom [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 4,042 | 4,797 | 13,244 | 14,240 |
France [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 3,266 | 3,588 | 9,597 | 10,405 |
Belgium [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 2,598 | 3,996 | 9,371 | 12,063 |
Singapore [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 2,942 | 3,502 | 9,197 | 10,387 |
Italy [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 2,691 | 3,316 | 7,830 | 9,684 |
Australia [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | 2,100 | 2,348 | 5,948 | 6,464 |
Germany [Member] | |||||
Segment Reporting Revenue Reconciling Item [Line Items] | |||||
Sales and other operating revenue | [1] | $ 1,964 | $ 2,518 | $ 5,879 | $ 7,184 |
[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. |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Lessee Lease Description [Line Items] | |||
Operating lease liability | $ 3,300 | ||
Operating lease right of use asset | 4,300 | ||
Previously recorded prepaid lease | 1,000 | ||
Estimated related rental income from noncancelable subleases | $ 22 | ||
Lease payments under minimum commitments, total | $ 6,112 | ||
Cumulative earnings effect adjustment | $ 0 | ||
Operating Lease [Member] | |||
Lessee Lease Description [Line Items] | |||
Operating lease liability | $ 5,579 | ||
Operating lease right of use asset | 6,553 | ||
Additional undiscounted commitments for leases not yet commenced | 700 | ||
Finance Lease [Member] | |||
Lessee Lease Description [Line Items] | |||
Additional undiscounted commitments for leases not yet commenced | $ 3,400 |
Leases (Lease Cost) (Details)
Leases (Lease Cost) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019 | Sep. 30, 2019 | |
Operating Lease [Member] | ||
Operating Leased Assets [Line Items] | ||
Operating lease cost | $ 375 | $ 1,040 |
Short-term and other (net of sublease rental income) | 475 | 1,558 |
Total | 850 | 2,598 |
Drilling Rigs and Related Equipment [Member] | ||
Operating Leased Assets [Line Items] | ||
Operating lease cost | 65 | 162 |
Short-term and other (net of sublease rental income) | 259 | 712 |
Total | 324 | 874 |
Other [Member] | ||
Operating Leased Assets [Line Items] | ||
Operating lease cost | 310 | 878 |
Short-term and other (net of sublease rental income) | 216 | 846 |
Total | 526 | 1,724 |
Finance Lease [Member] | ||
Operating Leased Assets [Line Items] | ||
Amortization of right-of-use assets | 29 | 91 |
Interest on lease liabilities | 35 | 102 |
Total | $ 64 | $ 193 |
Leases (Right of Use) (Details)
Leases (Right of Use) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Jan. 01, 2019 |
Lessee Lease Description [Line Items] | ||
Operating lease right of use asset included in Other assets, including intangibles - net | $ 4,300 | |
Total operating lease liability | $ 3,300 | |
Operating Lease [Member] | ||
Lessee Lease Description [Line Items] | ||
Operating lease right of use asset included in Other assets, including intangibles - net | $ 6,553 | |
Total right of use assets | 6,553 | |
Operating lease liability - current included in Accounts payable and accrued liabilities | 1,182 | |
Operating lease liability - noncurrent included in Other long-term obligations | 4,397 | |
Total operating lease liability | 5,579 | |
Drilling Rigs and Related Equipment [Member] | ||
Lessee Lease Description [Line Items] | ||
Operating lease right of use asset included in Other assets, including intangibles - net | 634 | |
Total right of use assets | 634 | |
Operating lease liability - current included in Accounts payable and accrued liabilities | 230 | |
Operating lease liability - noncurrent included in Other long-term obligations | 383 | |
Total operating lease liability | 613 | |
Other [Member] | ||
Lessee Lease Description [Line Items] | ||
Operating lease right of use asset included in Other assets, including intangibles - net | 5,919 | |
Total right of use assets | 5,919 | |
Operating lease liability - current included in Accounts payable and accrued liabilities | 952 | |
Operating lease liability - noncurrent included in Other long-term obligations | 4,014 | |
Total operating lease liability | 4,966 | |
Finance Lease [Member] | ||
Lessee Lease Description [Line Items] | ||
Finance lease right of use asset included in Property, plant and equipment - net | 1,499 | |
Total right of use assets | 1,499 | |
Finance lease liability - current included in Accounts payable and accrued liabilities | 23 | |
Finance lease liability - current included in Notes and loans payable | 169 | |
Finance lease liability - noncurrent included in Long-term debt | 1,281 | |
Finance lease liability - noncurrent included in Long-term obligations to equity companies | 139 | |
Total finance lease liability | $ 1,612 |
Leases (Maturity Schedule) (Det
Leases (Maturity Schedule) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Jan. 01, 2019 |
Lessee Lease Description [Line Items] | ||
Total operating lease liability | $ 3,300 | |
Operating Lease [Member] | ||
Lessee Lease Description [Line Items] | ||
Operating lease - 2019 remaining months | $ 357 | |
Operating lease - 2020 | 1,260 | |
Operating lease - 2021 | 933 | |
Operating lease - 2022 | 636 | |
Operating lease - 2023 | 495 | |
Operating lease - 2024 | 435 | |
Operating lease - 2025 and beyond | 2,461 | |
Total operating lease payments | 6,577 | |
Operating lease - discount to present value | (998) | |
Total operating lease liability | $ 5,579 | |
Operating lease weighted average remaining lease term - years | 10 years | |
Operating lease weighted average discount rate - percent | 3.20% | |
Drilling Rigs and Related Equipment [Member] | ||
Lessee Lease Description [Line Items] | ||
Operating lease - 2019 remaining months | $ 58 | |
Operating lease - 2020 | 234 | |
Operating lease - 2021 | 138 | |
Operating lease - 2022 | 79 | |
Operating lease - 2023 | 44 | |
Operating lease - 2024 | 29 | |
Operating lease - 2025 and beyond | 71 | |
Total operating lease payments | 653 | |
Operating lease - discount to present value | (40) | |
Total operating lease liability | $ 613 | |
Operating lease weighted average remaining lease term - years | 4 years | |
Operating lease weighted average discount rate - percent | 3.00% | |
Other [Member] | ||
Lessee Lease Description [Line Items] | ||
Operating lease - 2019 remaining months | $ 299 | |
Operating lease - 2020 | 1,026 | |
Operating lease - 2021 | 795 | |
Operating lease - 2022 | 557 | |
Operating lease - 2023 | 451 | |
Operating lease - 2024 | 406 | |
Operating lease - 2025 and beyond | 2,390 | |
Total operating lease payments | 5,924 | |
Operating lease - discount to present value | (958) | |
Total operating lease liability | $ 4,966 | |
Operating lease weighted average remaining lease term - years | 10 years | |
Operating lease weighted average discount rate - percent | 3.20% | |
Finance Lease [Member] | ||
Lessee Lease Description [Line Items] | ||
Finance Lease - 2019 remaining months | $ 173 | |
Finance lease - 2020 | 205 | |
Finance lease - 2021 | 182 | |
Finance lease - 2022 | 174 | |
Finance lease - 2023 | 173 | |
Finance lease - 2024 | 172 | |
Finance lease - 2025 and beyond | 2,427 | |
Total finance lease payments | 3,506 | |
Finance lease - discount to present value | (1,894) | |
Total finance lease liability | $ 1,612 | |
Finance lease weighted average remaining lease term - years | 25 years | |
Finance lease weighted average discount rate - percent | 9.80% |
Leases (Other Information) (Det
Leases (Other Information) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Jan. 01, 2019 | |
Operating Lease [Member] | ||
Lessee Lease Description [Line Items] | ||
Cash flows from operating activities | $ 799 | |
Cash flow from investing activities | 192 | |
For January 1 adoption of Topic 842 | $ 3,263 | |
Operating right-of-use assets obtained in exchange for new lease liabilities | 3,213 | |
Drilling Rigs and Related Equipment [Member] | ||
Lessee Lease Description [Line Items] | ||
Cash flow from investing activities | 192 | |
For January 1 adoption of Topic 842 | 445 | |
Operating right-of-use assets obtained in exchange for new lease liabilities | 341 | |
Other [Member] | ||
Lessee Lease Description [Line Items] | ||
Cash flows from operating activities | 799 | |
For January 1 adoption of Topic 842 | $ 2,818 | |
Operating right-of-use assets obtained in exchange for new lease liabilities | 2,872 | |
Finance Lease Paid To Equity Company [Member] | ||
Lessee Lease Description [Line Items] | ||
Cash flows from operating activities - finance leases | 41 | |
Finance Lease Paid To Third Parties [Member] | ||
Lessee Lease Description [Line Items] | ||
Cash flow from financing activities | $ 48 |
Leases (Leased Facilities) (Det
Leases (Leased Facilities) (Details) $ in Millions | Dec. 31, 2018USD ($) |
Operating Leased Assets [Line Items] | |
Lease Payments Under Minimum Commitments, 2019 | $ 1,156 |
Lease Payments Under Minimum Commitments, 2020 | 985 |
Lease Payments Under Minimum Commitments, 2021 | 765 |
Lease Payments Under Minimum Commitments, 2022 | 549 |
Lease Payments Under Minimum Commitments, 2023 | 454 |
Lease Payments Under Minimum Commitments, 2024 and beyond | 2,203 |
Lease Payments Under Minimum Commitments, Total | 6,112 |
Drilling Rigs and Related Equipment [Member] | |
Operating Leased Assets [Line Items] | |
Lease Payments Under Minimum Commitments, 2019 | 222 |
Lease Payments Under Minimum Commitments, 2020 | 166 |
Lease Payments Under Minimum Commitments, 2021 | 107 |
Lease Payments Under Minimum Commitments, 2022 | 43 |
Lease Payments Under Minimum Commitments, 2023 | 32 |
Lease Payments Under Minimum Commitments, 2024 and beyond | 53 |
Lease Payments Under Minimum Commitments, Total | 623 |
Other [Member] | |
Operating Leased Assets [Line Items] | |
Lease Payments Under Minimum Commitments, 2019 | 934 |
Lease Payments Under Minimum Commitments, 2020 | 819 |
Lease Payments Under Minimum Commitments, 2021 | 658 |
Lease Payments Under Minimum Commitments, 2022 | 506 |
Lease Payments Under Minimum Commitments, 2023 | 422 |
Lease Payments Under Minimum Commitments, 2024 and beyond | 2,150 |
Lease Payments Under Minimum Commitments, Total | $ 5,489 |
Leases (Net Rental Cost) (Detai
Leases (Net Rental Cost) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Leased Assets [Line Items] | |||
Rental cost | $ 2,715 | $ 2,618 | $ 3,091 |
Drilling Rigs and Related Equipment [Member] | |||
Operating Leased Assets [Line Items] | |||
Rental cost | 723 | 792 | 1,274 |
Other [Member] | |||
Operating Leased Assets [Line Items] | |||
Rental cost | $ 1,992 | $ 1,826 | $ 1,817 |
Accounting For Suspended Expl_2
Accounting For Suspended Exploratory Well Costs (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Accounting for Suspended Exploratory Well Costs [Abstract] | |
Charged to expense in period | $ 18 |
Sale of Norway Assets (Narrativ
Sale of Norway Assets (Narrative) (Details) $ in Billions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Sale of Norway Assets [Abstract] | |
Disposal Group, Including Discontinued Operation, Segment that Includes Disposal Group | upstream |
Disposal Group, Not Discontinued Operation, Name | non-operated upstream assets in Norway |
Agreed sales price of non-operated upstream assets, subject to adjustment | $ 4.5 |
Disposal Group, Including Discontinued Operation, Description and Timing of Disposal | fourth quarter of 2019 |
Estimated total cash proceeds from divestment | $ 3.5 |
Estimated 2019 cash proceeds from divestment | 2.6 |
Estimated cash proceeds in future periods associated with deferred consideration | 0.3 |
Estimated refund of income tax payments, due to sale | 0.6 |
Estimated after-tax gain on sale of non-operated upstream assets | $ 3.5 |