Document And Entity Information
Document And Entity Information | 6 Months Ended |
Jun. 30, 2020shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Amendment Flag | false |
Document Quarterly Report | true |
Document Period End Date | Jun. 30, 2020 |
Document Fiscal Year Focus | 2020 |
Document Transition Report | false |
Entity File Number | 1-2256 |
Entity Registrant Name | Exxon Mobil Corporation |
Entity Incorporation, State or Country Code | NJ |
Entity Tax Identification Number | 13-5409005 |
Entity Address, Address Line One | 5959 Las Colinas Boulevard |
Entity Address City or Town | Irving |
Entity Address State or Province | TX |
Entity Address, Postal Zip Code | 75039-2298 |
City Area Code | 972 |
Local Phone Number | 940-6000 |
Document Information [Line Items] | |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Common Stock, Shares Outstanding | 4,228,233,288 |
Entity Central Index Key | 0000034088 |
Document Fiscal Period Focus | Q2 |
Current Fiscal Year End Date | --12-31 |
Common Stock, without par value [Member] | |
Document Information [Line Items] | |
Security 12(b) Title | Common Stock, without par value |
Trading Symbol | XOM |
Security Exchange Name | NYSE |
0.142% Notes Due in 2024 [Member] | |
Document Information [Line Items] | |
Security 12(b) Title | 0.142% Notes due 2024 |
Trading Symbol | XOM24B |
Security Exchange Name | NYSE |
0.524% Notes Due in 2028 [Member] | |
Document Information [Line Items] | |
Security 12(b) Title | 0.524% Notes due 2028 |
Trading Symbol | XOM28 |
Security Exchange Name | NYSE |
0.835% Notes Due in 2032 [Member] | |
Document Information [Line Items] | |
Security 12(b) Title | 0.835% Notes due 2032 |
Trading Symbol | XOM32 |
Security Exchange Name | NYSE |
1.408% Notes Due in 2039 [Member] | |
Document Information [Line Items] | |
Security 12(b) Title | 1.408% Notes due 2039 |
Trading Symbol | XOM39A |
Security Exchange Name | NYSE |
Condensed Consolidated Statemen
Condensed Consolidated Statement Of Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Revenues and other income | ||||
Sales and other operating revenue | $ 32,277 | $ 67,491 | $ 87,411 | $ 129,137 |
Income from equity affiliates | 103 | 1,359 | 878 | 3,068 |
Other income | 225 | 241 | 474 | 511 |
Total revenues and other income | 32,605 | 69,091 | 88,763 | 132,716 |
Costs and other deductions | ||||
Crude oil and product purchases | 14,069 | 38,942 | 46,152 | 73,743 |
Production and manufacturing expenses | 6,895 | 9,522 | 15,192 | 18,492 |
Selling, general and administrative expenses | 2,409 | 2,827 | 4,988 | 5,597 |
Depreciation and depletion | 4,916 | 4,631 | 10,735 | 9,202 |
Exploration expenses, including dry holes | 214 | 333 | 502 | 613 |
Non-service pension and postretirement benefit expense | 271 | 313 | 540 | 671 |
Interest expense | 317 | 216 | 566 | 397 |
Other taxes and duties | 5,154 | 7,675 | 11,986 | 15,080 |
Total costs and other deductions | 34,245 | 64,459 | 90,661 | 123,795 |
Income (Loss) before income taxes | (1,640) | 4,632 | (1,898) | 8,921 |
Income taxes | (471) | 1,241 | 41 | 3,124 |
Net income (loss) including noncontrolling interests | (1,169) | 3,391 | (1,939) | 5,797 |
Net income (loss) attributable to noncontrolling interests | (89) | 261 | (249) | 317 |
Net income (loss) attributable to ExxonMobil | $ (1,080) | $ 3,130 | $ (1,690) | $ 5,480 |
Earnings (Loss) per common share (dollars) | $ (0.26) | $ 0.73 | $ (0.40) | $ 1.28 |
Earnings (Loss) per common share - assuming dilution (dollars) | $ (0.26) | $ 0.73 | $ (0.40) | $ 1.28 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Condensed Consolidated Statement Of Comprehensive Income [Abstract] | ||||
Net income (loss) including noncontrolling interests | $ (1,169) | $ 3,391 | $ (1,939) | $ 5,797 |
Other comprehensive income (loss) (net of income taxes) | ||||
Foreign exchange translation adjustment | 2,875 | 600 | (2,774) | 1,349 |
Postretirement benefits reserves adjustment (excluding amortization) | (136) | (34) | (49) | (60) |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | 203 | 141 | 407 | 326 |
Total other comprehensive income (loss) | 2,942 | 707 | (2,416) | 1,615 |
Comprehensive income (loss) including noncontrolling interests | 1,773 | 4,098 | (4,355) | 7,412 |
Comprehensive income (loss) attributable to noncontrolling interests | 131 | 391 | (541) | 573 |
Comprehensive income (loss) attributable to ExxonMobil | $ 1,642 | $ 3,707 | $ (3,814) | $ 6,839 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheet - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Current assets | ||
Cash and cash equivalents | $ 12,576 | $ 3,089 |
Notes and accounts receivable - net | 19,036 | 26,966 |
Inventories | ||
Crude oil, products and merchandise | 15,028 | 14,010 |
Materials and supplies | 4,629 | 4,518 |
Other current assets | 1,747 | 1,469 |
Total current assets | 53,016 | 50,052 |
Investments, advances and long-term receivables | 43,192 | 43,164 |
Property, plant and equipment - net | 250,524 | 253,018 |
Other assets, including intangibles - net | 14,763 | 16,363 |
Total assets | 361,495 | 362,597 |
Current liabilities | ||
Notes and loans payable | 22,952 | 20,578 |
Accounts payable and accrued liabilities | 33,216 | 41,831 |
Income taxes payable | 1,102 | 1,580 |
Total current liabilities | 57,270 | 63,989 |
Long-term debt | 46,563 | 26,342 |
Postretirement benefits reserves | 22,341 | 22,304 |
Deferred income tax liabilities | 24,725 | 25,620 |
Long-term obligations to equity companies | 3,831 | 3,988 |
Other long-term obligations | 19,612 | 21,416 |
Total liabilities | 174,342 | 163,659 |
Commitments and contingencies (Note 3) | ||
Equity | ||
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 15,812 | 15,637 |
Earnings reinvested | 412,124 | 421,341 |
Accumulated other comprehensive income | (21,617) | (19,493) |
Common stock held in treasury (3,791 million shares at Jun. 30, 2020 and 3,785 million shares at Dec. 31, 2019) | (226,136) | (225,835) |
ExxonMobil share of equity | 180,183 | 191,650 |
Noncontrolling interests | 6,970 | 7,288 |
Total equity | 187,153 | 198,938 |
Total liabilities and equity | $ 361,495 | $ 362,597 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
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 | 3,791 | 3,785 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement Of Cash Flows - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | ||
Cash flows from operating activities | |||
Net income (loss) including noncontrolling interests | $ (1,939) | $ 5,797 | |
Depreciation and depletion | 10,735 | 9,202 | |
Noncash inventory adjustment - lower of cost or market | 176 | ||
Changes in operational working capital, excluding cash and debt | (2,402) | 1,014 | |
All other items - net | (296) | (1,728) | |
Net cash provided by operating activities | 6,274 | 14,285 | |
Cash flows from investing activities | |||
Additions to property, plant and equipment | (10,362) | (11,372) | |
Proceeds associated with sales of subsidiaries, property, plant and equipment, and sales and returns of investments | 129 | 140 | |
Additional investments and advances | (1,524) | (1,730) | |
Other investing activities including collection of advances | 309 | 292 | |
Net cash used in investing activities | (11,448) | (12,670) | |
Cash flows from financing activities | |||
Additions to long-term debt | 23,186 | 43 | |
Reductions in long-term debt | (3) | ||
Reductions in short-term debt | (1,618) | (3,805) | |
Additions/(reductions) in commercial paper, and debt with three months or less maturity | [1] | 1,033 | 11,126 |
Contingent consideration liability | (21) | ||
Cash dividends to ExxonMobil shareholders | (7,434) | (7,220) | |
Cash dividends to noncontrolling interests | (93) | (100) | |
Changes in noncontrolling interests | 317 | (119) | |
Common stock acquired | (305) | (421) | |
Net cash used in financing activities | 15,062 | (496) | |
Effects of exchange rate changes on cash | (401) | 52 | |
Increase/(decrease) in cash and cash equivalents | 9,487 | 1,171 | |
Cash and cash equivalents at beginning of period | 3,089 | 3,042 | |
Cash and cash equivalents at end of period | 12,576 | 4,213 | |
Supplemental Disclosures | |||
Income taxes paid | 1,768 | 3,884 | |
Cash interest paid - Included in cash flows from operating activities | 290 | 277 | |
Cash interest paid - Capitalized, included in cash flows from investing activities | 335 | 355 | |
Total cash interest paid | $ 625 | $ 632 | |
[1] | Includes a net addition of commercial paper with a maturity of over three months of $ 7.0 billion in 2020 and $ 6.5 billion in 2019. The gross amount of commercial paper with a maturity of over three months issued was $ 20.5 billion in 2020 and $ 12.3 billion in 2019, while the gross amount repaid was $ 13.5 billion in 2020 and $ 5.8 billion in 2019. |
Condensed Consolidated Statem_4
Condensed Consolidated Statement Of Cash Flows (Parenthetical) - Maturity Greater Than Three Months [Member] - USD ($) $ in Billions | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Net cash flow from issuance/(repayment) of commercial paper | $ 7 | $ 6.5 |
Proceeds from issuance of commercial paper | 20.5 | 12.3 |
Repayments of commercial paper | $ 13.5 | $ 5.8 |
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, 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 | $ 389 | 389 | 389 | ||||
Other | 39 | (8) | (8) | 47 | |||
Net income (loss) for the period | 5,797 | 5,480 | 5,480 | 317 | |||
Dividends - common shares (company) | (7,220) | (7,220) | |||||
Dividends - common shares (NCI) | (100) | ||||||
Dividends - common shares (total) | (7,320) | ||||||
Other comprehensive income (loss) | 1,615 | 1,359 | 1,359 | 256 | |||
Acquisitions, at cost (company) | $ (421) | (421) | |||||
Acquisitions, at cost (NCI) | (166) | ||||||
Acquisitions, at cost (total) | $ (587) | ||||||
Acquisitions (in shares) | (6) | (6) | |||||
Dispositions | $ 4 | $ 4 | 4 | ||||
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 | ||||||
Balance at Mar. 31, 2019 | $ 198,021 | 15,476 | 420,498 | (18,782) | (225,970) | 191,222 | 6,799 |
Balance (in shares) - issued at Mar. 31, 2019 | 8,019 | ||||||
Balance (in shares) - in treasury at Mar. 31, 2019 | (3,788) | ||||||
Balance (in shares) - outstanding at Mar. 31, 2019 | 4,231 | ||||||
Amortization of stock-based awards | $ 166 | 166 | 166 | ||||
Other | 35 | (3) | (3) | 38 | |||
Net income (loss) for the period | 3,391 | 3,130 | 3,130 | 261 | |||
Dividends - common shares (company) | (3,715) | (3,715) | |||||
Dividends - common shares (NCI) | (57) | ||||||
Dividends - common shares (total) | (3,772) | ||||||
Other comprehensive income (loss) | 707 | 577 | 577 | 130 | |||
Acquisitions, at cost (NCI) | (83) | ||||||
Acquisitions, at cost (total) | (83) | ||||||
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 | ||||||
Balance at Dec. 31, 2019 | $ 198,938 | 15,637 | 421,341 | (19,493) | (225,835) | 191,650 | 7,288 |
Balance (in shares) - issued at Dec. 31, 2019 | 8,019 | ||||||
Balance (in shares) - in treasury at Dec. 31, 2019 | (3,785) | ||||||
Balance (in shares) - outstanding at Dec. 31, 2019 | 4,234 | ||||||
Amortization of stock-based awards | $ 358 | 358 | 358 | ||||
Other | 197 | (183) | (183) | 380 | |||
Net income (loss) for the period | (1,939) | (1,690) | (1,690) | (249) | |||
Dividends - common shares (company) | (7,434) | (7,434) | |||||
Dividends - common shares (NCI) | (93) | ||||||
Dividends - common shares (total) | (7,527) | ||||||
Cumulative effect of accounting change | (94) | (93) | (93) | (1) | |||
Other comprehensive income (loss) | (2,416) | (2,124) | (2,124) | (292) | |||
Acquisitions, at cost (company) | $ (305) | (305) | |||||
Acquisitions, at cost (NCI) | (63) | ||||||
Acquisitions, at cost (total) | $ (368) | ||||||
Acquisitions (in shares) | (6) | (6) | |||||
Dispositions | $ 4 | $ 4 | 4 | ||||
Balance at Jun. 30, 2020 | $ 187,153 | 15,812 | 412,124 | (21,617) | (226,136) | 180,183 | 6,970 |
Balance (in shares) - issued at Jun. 30, 2020 | 8,019 | ||||||
Balance (in shares) - in treasury at Jun. 30, 2020 | (3,791) | ||||||
Balance (in shares) - outstanding at Jun. 30, 2020 | 4,228 | ||||||
Balance at Mar. 31, 2020 | $ 188,743 | 15,636 | 416,919 | (24,339) | (226,137) | 182,079 | 6,664 |
Balance (in shares) - issued at Mar. 31, 2020 | 8,019 | ||||||
Balance (in shares) - in treasury at Mar. 31, 2020 | (3,791) | ||||||
Balance (in shares) - outstanding at Mar. 31, 2020 | 4,228 | ||||||
Amortization of stock-based awards | $ 177 | 177 | 177 | ||||
Other | 222 | (1) | (1) | 223 | |||
Net income (loss) for the period | (1,169) | (1,080) | (1,080) | (89) | |||
Dividends - common shares (company) | (3,715) | (3,715) | |||||
Dividends - common shares (NCI) | (48) | ||||||
Dividends - common shares (total) | (3,763) | ||||||
Other comprehensive income (loss) | 2,942 | 2,722 | 2,722 | 220 | |||
Dispositions | 1 | 1 | 1 | ||||
Balance at Jun. 30, 2020 | $ 187,153 | $ 15,812 | $ 412,124 | $ (21,617) | $ (226,136) | $ 180,183 | $ 6,970 |
Balance (in shares) - issued at Jun. 30, 2020 | 8,019 | ||||||
Balance (in shares) - in treasury at Jun. 30, 2020 | (3,791) | ||||||
Balance (in shares) - outstanding at Jun. 30, 2020 | 4,228 |
Basis Of Financial Statement Pr
Basis Of Financial Statement Preparation | 6 Months Ended |
Jun. 30, 2020 | |
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 2019 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. |
Miscellaneous Financial Informa
Miscellaneous Financial Information | 6 Months Ended |
Jun. 30, 2020 | |
Miscellaneous Financial Information [Abstract] | |
Miscellaneous Financial Information | 2. Miscellaneous Financial Information During the first quarter of 2020, the balance of supply and demand for petroleum and petrochemical products experienced two significant disruptive effects. On the demand side, the COVID-19 pandemic spread rapidly through most areas of the world resulting in substantial reductions in consumer and business activity and significantly reduced demand for crude oil, natural gas, and petroleum products. This reduction in demand coincided with announcements of increased production in certain key oil producing countries which led to sharp declines in prices for crude oil and other petrochemical products, and considerable volatility in financial markets during the first half of 2020. Crude oil, products and merchandise inventories are carried at the lower of current market value or cost, generally determined under the last-in first-out method (LIFO). The Corporation’s results for the second quarter of 2020 included a before-tax credit of $ 2,624 million, included in “Crude oil and product purchases” on the Statement of Income, as rising commodity prices reduced the charge against the book value of inventories from $ 2,777 million in the first quarter to $ 153 million in the second quarter. This adjustment, together with a similar adjustment for equity companies included in “Income from equity affiliates,” resulted in a $ 1,922 million after-tax credit to earnings (excluding noncontrolling interests) in the second quarter and will be re-evaluated at the end of each quarter in 2020. The earnings impact may be adjusted upward or downward this year based on prevailing market prices at the time of future evaluations. At year-end, any required adjustment is considered permanent and is incorporated into the LIFO carrying value of the inventory. As a result of sharp declines in prices for crude oil and other petrochemical products in the first half of 2020 and a significant decline in its market capitalization at the end of the first quarter, the Corporation recognized after-tax impairment charges of $ 836 million in the first half of 2020. These charges included goodwill impairments of $ 562 million in Upstream, Downstream, and Chemical reporting units and other impairment charges of $ 274 million, mainly in the Upstream segment. Fair value of the goodwill reporting units primarily reflected market-based estimates of historical EBITDA multiples at the end of the first quarter. Other impairment charges, mainly related to the Corporation’s investment in an Upstream equity company, were written down to estimated fair value based on recent third party price outlooks, internal estimates of future volumes and costs, and estimates of discount rates for similar properties. The charges related to goodwill impairment are included in “Depreciation and depletion” on the Statement of Income while the charges related to other impairments are largely included in “Income from equity affiliates.” |
Litigation And Other Contingenc
Litigation And Other Contingencies | 6 Months Ended |
Jun. 30, 2020 | |
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 June 30, 2020, 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 June 30, 2020 Equity Other Company Third Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 904 113 1,017 Other 692 4,663 5,355 Total 1,596 4,776 6,372 (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 | 6 Months Ended |
Jun. 30, 2020 | |
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, 2018 ( 13,881) ( 5,683) ( 19,564) Current period change excluding amounts reclassified from accumulated other comprehensive income 1,096 ( 49) 1,047 Amounts reclassified from accumulated other comprehensive income - 312 312 Total change in accumulated other comprehensive income 1,096 263 1,359 Balance as of June 30, 2019 ( 12,785) ( 5,420) ( 18,205) Balance as of December 31, 2019 ( 12,446) ( 7,047) ( 19,493) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) ( 2,469) ( 45) ( 2,514) Amounts reclassified from accumulated other comprehensive income - 390 390 Total change in accumulated other comprehensive income ( 2,469) 345 ( 2,124) Balance as of June 30, 2020 ( 14,915) ( 6,702) ( 21,617) (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) of $ 5 million, net of taxes. Three Months Ended Six Months Ended Amounts Reclassified Out of Accumulated Other June 30, June 30, Comprehensive Income - Before-tax Income/(Expense) 2020 2019 2020 2019 (millions of dollars) 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) ( 260) ( 191) ( 522) ( 428) Three Months Ended Six Months Ended Income Tax (Expense)/Credit For June 30, June 30, Components of Other Comprehensive Income 2020 2019 2020 2019 (millions of dollars) Foreign exchange translation adjustment 8 - 15 - Postretirement benefits reserves adjustment (excluding amortization) 52 10 ( 10) 20 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs ( 57) ( 50) ( 115) ( 102) Total 3 ( 40) ( 110) ( 82) |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 5. Earnings Per Share Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Earnings per common share Net income (loss) attributable to ExxonMobil (millions of dollars) ( 1,080) 3,130 ( 1,690) 5,480 Weighted average number of common shares outstanding (millions of shares) 4,271 4,271 4,270 4,270 Earnings (Loss) per common share (dollars) (1) ( 0.26) 0.73 ( 0.40) 1.28 Dividends paid per common share (dollars) 0.87 0.87 1.74 1.69 (1) The calculation of earnings (loss) per common share and earnings (loss) per common share – assuming dilution are the same in each period shown. |
Pension And Other Postretiremen
Pension And Other Postretirement Benefits | 6 Months Ended |
Jun. 30, 2020 | |
Pension And Other Postretirement Benefits [Abstract] | |
Pension And Other Postretirement Benefits | 6. Pension and Other Postretirement Benefits Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 (millions of dollars) Components of net benefit cost Pension Benefits - U.S. Service cost 232 180 467 355 Interest cost 177 189 354 382 Expected return on plan assets ( 175) ( 142) ( 350) ( 284) Amortization of actuarial loss/(gain) and prior service cost 79 79 158 156 Net pension enhancement and curtailment/settlement cost 52 53 104 107 Net benefit cost 365 359 733 716 Pension Benefits - Non-U.S. Service cost 171 138 346 277 Interest cost 162 192 323 384 Expected return on plan assets ( 216) ( 192) ( 438) ( 389) Amortization of actuarial loss/(gain) and prior service cost 115 55 234 158 Net benefit cost 232 193 465 430 Other Postretirement Benefits Service cost 44 33 89 66 Interest cost 68 79 138 158 Expected return on plan assets ( 5) ( 4) ( 9) ( 8) Amortization of actuarial loss/(gain) and prior service cost 14 4 26 7 Net benefit cost 121 112 244 223 |
Financial Instruments and Deriv
Financial Instruments and Derivatives | 6 Months Ended |
Jun. 30, 2020 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments and Derivatives | 7. Financial Instruments and Derivatives Financial Instruments. The estimated fair value of financial instruments at June 30, 2020, and December 31, 2019, and the related hierarchy level for the fair value measurement is as follows: At June 30, 2020 (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) 1,488 165 - 1,653 ( 1,423) ( 65) - 165 Advances to/receivables from equity companies (2)(7) - 1,916 6,795 8,711 - - 48 8,759 Other long-term financial assets (3) 1,157 - 889 2,046 - - 137 2,183 Liabilities Derivative liabilities (4) 1,748 88 - 1,836 ( 1,423) ( 325) - 88 Long-term debt (5) 49,106 166 4 49,276 - - ( 3,962) 45,314 Long-term obligations to equity companies (7) - - 3,766 3,766 - - 65 3,831 Other long-term financial liabilities (6) - - 1,066 1,066 - - 6 1,072 At December 31, 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) 533 102 - 635 ( 463) ( 70) - 102 Advances to/receivables from equity companies (2)(7) - 1,941 6,729 8,670 - - ( 128) 8,542 Other long-term financial assets (3) 1,145 - 974 2,119 - - 44 2,163 Liabilities Derivative liabilities (4) 568 70 - 638 ( 463) ( 105) - 70 Long-term debt (5) 25,652 134 3 25,789 - - ( 1,117) 24,672 Long-term obligations to equity companies (7) - - 4,245 4,245 - - ( 257) 3,988 Other long-term financial liabilities (6) - - 1,042 1,042 - - 16 1,058 (1) Included in the Balance Sheet lines: Notes and accounts receivable - net and Other assets, including intangibles, net (2) Included in the Balance Sheet line: Investments, advances and long-term receivables (3) Included in the Balance Sheet lines: Investments, advances and long-term receivables and Other assets, including intangibles, net (4) Included in the Balance Sheet lines: Accounts payable and accrued liabilities and Other long-term obligations (5) Excluding finance lease obligations (6) 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 company. At June 30, 2020, the Corporation had $ 496 million of collateral under master netting arrangements not offset against the derivatives on the Consolidated Balance Sheet, primarily related to initial margin requirements. Long-term debt. The increase in the estimated fair value and book value of long-term debt reflects the Corporation’s issuance of new debt securities during 2020. The carrying value of these debt securities as of June 30, 2020, is below: Carrying Issuance Date Description of Notes Value (millions of dollars) March 2020 2.992% notes due 2025 1,500 3.294% notes due 2027 1,000 3.482% notes due 2030 2,000 4.227% notes due 2040 1,250 4.327% notes due 2050 2,750 April 2020 1.571% notes due 2023 2,750 2.992% notes due 2025 (1) 1,314 2.610% notes due 2030 2,000 4.227% notes due 2040 (1) 842 3.452% notes due 2051 2,750 June 2020 (2) 0.142% notes due 2024 1,680 0.524% notes due 2028 1,120 0.835% notes due 2032 1,120 1.408% notes due 2039 1,120 Total 23,196 (1) Includes premiums of $ 156 million. (2) Euro-denominated. The Corporation may use non-derivative financial instruments, such as its foreign currency-denominated debt, as hedges of its net investments in certain foreign subsidiaries. Under this method, the change in the carrying value of the financial instruments due to foreign exchange fluctuations is reported in accumulated other comprehensive income. As of June 30, 2020, the Corporation has designated $ 1.9 billion of its Euro-denominated long-term debt as a net investment hedge of its European business. The net investment hedge is deemed to be perfectly effective. The Corporation had undrawn short-term committed lines of credit of $ 15.4 billion and an undrawn long-term committed line of credit of $ 0.2 billion as of second quarter 2020. 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 June 30, 2020, and December 31, 2019, or results of operations for the periods ended June 30, 2020, and 2019. Credit risk associated with the Corporation’s derivative position is mitigated by several factors, including the use of derivative clearing exchanges and the quality of and financial limits placed on derivative counterparties. The Corporation maintains a system of controls that includes the authorization, reporting and monitoring of derivative activity. The net notional long/(short) position of derivative instruments at June 30, 2020, and December 31, 2019, was as follows: June 30, Dec. 31, 2020 2019 Crude oil (millions of barrels) ( 32) 57 Petroleum products (millions of barrels) ( 53) ( 38) Natural Gas (MMBTUs) ( 351) ( 165) 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 Six Months Ended June 30, June 30, 2020 2019 2020 2019 (millions of dollars) Sales and other operating revenue ( 251) 33 985 ( 242) Crude oil and product purchases ( 178) 33 ( 530) 15 Total ( 429) 66 455 ( 227) |
Disclosures About Segments And
Disclosures About Segments And Related Information | 6 Months Ended |
Jun. 30, 2020 | |
Disclosures About Segments And Related Information [Abstract] | |
Disclosures About Segments And Related Information | 8. Disclosures about Segments and Related Information Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Earnings (Loss) After Income Tax (millions of dollars) Upstream United States ( 1,197) 335 ( 1,901) 431 Non-U.S. ( 454) 2,926 786 5,706 Downstream United States ( 101) 310 ( 202) 149 Non-U.S. 1,077 141 567 46 Chemical United States 171 ( 6) 459 155 Non-U.S. 296 194 152 551 Corporate and financing ( 872) ( 770) ( 1,551) ( 1,558) Corporate total ( 1,080) 3,130 ( 1,690) 5,480 Sales and Other Operating Revenue Upstream United States 1,081 2,594 2,858 5,287 Non-U.S. 2,022 3,709 4,589 7,513 Downstream United States 8,203 18,721 23,587 34,363 Non-U.S. 16,302 35,306 45,606 67,603 Chemical United States 1,570 2,504 3,866 5,009 Non-U.S. 3,090 4,647 6,890 9,342 Corporate and financing 9 10 15 20 Corporate total 32,277 67,491 87,411 129,137 Intersegment Revenue Upstream United States 1,378 2,641 3,651 4,952 Non-U.S. 2,852 8,376 9,239 15,505 Downstream United States 2,056 6,742 6,008 11,503 Non-U.S. 2,752 6,568 7,876 12,737 Chemical United States 1,220 2,569 2,986 4,458 Non-U.S. 708 1,583 1,971 3,130 Corporate and financing 56 55 111 108 Geographic Three Months Ended Six Months Ended June 30, June 30, Sales and Other Operating Revenue 2020 2019 2020 2019 (millions of dollars) United States 10,854 23,819 30,311 44,659 Non-U.S. 21,423 43,672 57,100 84,478 Total 32,277 67,491 87,411 129,137 Significant Non-U.S. revenue sources include: (1) Canada 2,148 5,346 5,971 10,196 United Kingdom 1,906 4,781 5,597 9,202 Singapore 1,867 3,135 4,483 6,255 France 1,583 3,258 4,172 6,332 Italy 1,228 2,494 3,186 5,139 Belgium 1,247 3,245 3,136 6,773 (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 | 6 Months Ended |
Jun. 30, 2020 | |
Lessee Disclosure [Abstract] | |
Leases | 9. Leases A previously recorded operating lease was renegotiated in the first quarter of 2020 and the new agreement no longer meets the definition of a lease. At year-end 2019, this agreement had been reported as a right of use asset of $ 1.3 billion and a lease liability of $ 1.3 billion in the “Other” operating lease category. The new agreement will be reported as a take-or-pay obligation. |
Allowance for Current Expected
Allowance for Current Expected Credit Loss (CECL) | 6 Months Ended |
Jun. 30, 2020 | |
Allowance For Current Expected Credit Loss (CECL) [Abstract] | |
Allowance For Current Expected Credit Loss (CECL) | 10. Allowance for Current Expected Credit Loss (CECL) Effective January 1, 2020, the Corporation adopted 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 reasonable and supportable forecasts. The standard requires this expected loss methodology for trade receivables, certain other financial assets and off-balance sheet credit exposures. The cumulative effect adjustment related to the adoption of this standard reduced equity by $ 93 million. The Corporation is exposed to credit losses primarily through sales of petroleum products, crude oil, NGLs and natural gas, as well as loans to equity companies and joint venture receivables. A counterparty’s ability to pay is assessed through a credit review process that considers payment terms, the counterparty’s established credit rating or the Corporation’s assessment of the counterparty’s credit worthiness, contract terms, country of operation, and other risks. The Corporation can require prepayment or collateral to mitigate certain credit risks. The Corporation groups financial assets into portfolios that share similar risk characteristics for purposes of determining the allowance for credit losses. Each reporting period, the Corporation assesses whether a significant change in the risk of credit loss has occurred. Among the quantitative and qualitative factors considered are historical financial data, current conditions, industry and country risk, current credit ratings and the quality of third-party guarantees secured from the counterparty. Financial assets are written off in whole, or in part, when practical recovery efforts have been exhausted and no reasonable expectation of recovery exists. Subsequent recoveries of amounts previously written off are recognized in earnings. The Corporation manages receivable portfolios using past due balances as a key credit quality indicator. The Corporation recognizes a credit allowance for off-balance sheet credit exposures as a liability on the balance sheet, separate from the allowance for credit losses related to recognized financial assets. Among these exposures are unfunded loans to equity companies and financial guarantees that cannot be cancelled unilaterally by the Corporation. In the first half of 2020, the COVID-19 pandemic spread through most areas of the world resulting in economic uncertainty, global financial market volatility, and negative effects in the credit markets. The Corporation has considered these effects, along with the significantly lower balances of trade receivables at the end of the quarter, in its estimate of credit losses and concluded no material adjustment to credit allowances in the quarter was required. At June 30, 2020, the Corporation’s evaluation of financial assets under Financial Instruments – Credit Losses (Topic 326) , as amended, included $ 15,519 million of notes and accounts receivable, net of allowances of $ 153 million, and $ 9,434 million of loans and long-term receivables, net of allowances of $ 443 million, and certain other financial assets where there is immaterial risk of loss. Reserve for Liabilities for Notes and Other Off-Balance Receivables and Loans Sheet Assets Trade Other Total (millions of dollars) Balance at December 31, 2019 34 469 - 503 Cumulative effect of accounting change 52 45 12 109 Current period provision 8 2 - 10 Write-offs charged against the allowance ( 1) ( 1) - ( 2) Other - ( 12) - ( 12) Balance at June 30, 2020 93 503 12 608 |
Summary of Accounting Policies
Summary of Accounting Policies (Policy) | 6 Months Ended |
Jun. 30, 2020 | |
Summary of Accounting Policies [Abstract] | |
Inventory Policy | Crude oil, products and merchandise inventories are carried at the lower of current market value or cost, generally determined under the last-in first-out method (LIFO). The earnings impact may be adjusted upward or downward this year based on prevailing market prices at the time of future evaluations. At year-end, any required adjustment is considered permanent and is incorporated into the LIFO carrying value of the inventory. |
Legal Costs Policy | The Corporation accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. The Corporation does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote. For contingencies where an unfavorable outcome is reasonably possible and which are significant, the Corporation discloses the nature of the contingency and, where feasible, an estimate of the possible loss. For purposes of our contingency disclosures, “significant” includes material matters, as well as other matters which management believes should be disclosed. |
Net Investment Hedge Risk Management Policy | The Corporation may use non-derivative financial instruments, such as its foreign currency-denominated debt, as hedges of its net investments in certain foreign subsidiaries. Under this method, the change in the carrying value of the financial instruments due to foreign exchange fluctuations is reported in accumulated other comprehensive income. |
Credit Loss Financial Instrument Policy | The Corporation groups financial assets into portfolios that share similar risk characteristics for purposes of determining the allowance for credit losses. Each reporting period, the Corporation assesses whether a significant change in the risk of credit loss has occurred. Among the quantitative and qualitative factors considered are historical financial data, current conditions, industry and country risk, current credit ratings and the quality of third-party guarantees secured from the counterparty. Financial assets are written off in whole, or in part, when practical recovery efforts have been exhausted and no reasonable expectation of recovery exists. Subsequent recoveries of amounts previously written off are recognized in earnings. The Corporation manages receivable portfolios using past due balances as a key credit quality indicator. The Corporation recognizes a credit allowance for off-balance sheet credit exposures as a liability on the balance sheet, separate from the allowance for credit losses related to recognized financial assets. |
Litigation And Other Continge_2
Litigation And Other Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Litigation And Other Contingencies [Abstract] | |
Schedule Of Guarantees | As of June 30, 2020 Equity Other Company Third Party Obligations (1) Obligations Total (millions of dollars) Guarantees Debt-related 904 113 1,017 Other 692 4,663 5,355 Total 1,596 4,776 6,372 (1) ExxonMobil share |
Other Comprehensive Income In_2
Other Comprehensive Income Information (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
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, 2018 ( 13,881) ( 5,683) ( 19,564) Current period change excluding amounts reclassified from accumulated other comprehensive income 1,096 ( 49) 1,047 Amounts reclassified from accumulated other comprehensive income - 312 312 Total change in accumulated other comprehensive income 1,096 263 1,359 Balance as of June 30, 2019 ( 12,785) ( 5,420) ( 18,205) Balance as of December 31, 2019 ( 12,446) ( 7,047) ( 19,493) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) ( 2,469) ( 45) ( 2,514) Amounts reclassified from accumulated other comprehensive income - 390 390 Total change in accumulated other comprehensive income ( 2,469) 345 ( 2,124) Balance as of June 30, 2020 ( 14,915) ( 6,702) ( 21,617) (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) of $ 5 million, net of taxes. |
Reclassification Out Of Accumulated Other Comprehensive Income | Three Months Ended Six Months Ended Amounts Reclassified Out of Accumulated Other June 30, June 30, Comprehensive Income - Before-tax Income/(Expense) 2020 2019 2020 2019 (millions of dollars) 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) ( 260) ( 191) ( 522) ( 428) |
Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income | Three Months Ended Six Months Ended Income Tax (Expense)/Credit For June 30, June 30, Components of Other Comprehensive Income 2020 2019 2020 2019 (millions of dollars) Foreign exchange translation adjustment 8 - 15 - Postretirement benefits reserves adjustment (excluding amortization) 52 10 ( 10) 20 Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs ( 57) ( 50) ( 115) ( 102) Total 3 ( 40) ( 110) ( 82) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Computation | Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Earnings per common share Net income (loss) attributable to ExxonMobil (millions of dollars) ( 1,080) 3,130 ( 1,690) 5,480 Weighted average number of common shares outstanding (millions of shares) 4,271 4,271 4,270 4,270 Earnings (Loss) per common share (dollars) (1) ( 0.26) 0.73 ( 0.40) 1.28 Dividends paid per common share (dollars) 0.87 0.87 1.74 1.69 (1) The calculation of earnings (loss) per common share and earnings (loss) per common share – assuming dilution are the same in each period shown. |
Pension And Other Postretirem_2
Pension And Other Postretirement Benefits (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Pension And Other Postretirement Benefits [Abstract] | |
Pension And Other Postretirement Benefits | Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 (millions of dollars) Components of net benefit cost Pension Benefits - U.S. Service cost 232 180 467 355 Interest cost 177 189 354 382 Expected return on plan assets ( 175) ( 142) ( 350) ( 284) Amortization of actuarial loss/(gain) and prior service cost 79 79 158 156 Net pension enhancement and curtailment/settlement cost 52 53 104 107 Net benefit cost 365 359 733 716 Pension Benefits - Non-U.S. Service cost 171 138 346 277 Interest cost 162 192 323 384 Expected return on plan assets ( 216) ( 192) ( 438) ( 389) Amortization of actuarial loss/(gain) and prior service cost 115 55 234 158 Net benefit cost 232 193 465 430 Other Postretirement Benefits Service cost 44 33 89 66 Interest cost 68 79 138 158 Expected return on plan assets ( 5) ( 4) ( 9) ( 8) Amortization of actuarial loss/(gain) and prior service cost 14 4 26 7 Net benefit cost 121 112 244 223 |
Financial Instruments and Der_2
Financial Instruments and Derivatives (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments | At June 30, 2020 (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) 1,488 165 - 1,653 ( 1,423) ( 65) - 165 Advances to/receivables from equity companies (2)(7) - 1,916 6,795 8,711 - - 48 8,759 Other long-term financial assets (3) 1,157 - 889 2,046 - - 137 2,183 Liabilities Derivative liabilities (4) 1,748 88 - 1,836 ( 1,423) ( 325) - 88 Long-term debt (5) 49,106 166 4 49,276 - - ( 3,962) 45,314 Long-term obligations to equity companies (7) - - 3,766 3,766 - - 65 3,831 Other long-term financial liabilities (6) - - 1,066 1,066 - - 6 1,072 At December 31, 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) 533 102 - 635 ( 463) ( 70) - 102 Advances to/receivables from equity companies (2)(7) - 1,941 6,729 8,670 - - ( 128) 8,542 Other long-term financial assets (3) 1,145 - 974 2,119 - - 44 2,163 Liabilities Derivative liabilities (4) 568 70 - 638 ( 463) ( 105) - 70 Long-term debt (5) 25,652 134 3 25,789 - - ( 1,117) 24,672 Long-term obligations to equity companies (7) - - 4,245 4,245 - - ( 257) 3,988 Other long-term financial liabilities (6) - - 1,042 1,042 - - 16 1,058 (1) Included in the Balance Sheet lines: Notes and accounts receivable - net and Other assets, including intangibles, net (2) Included in the Balance Sheet line: Investments, advances and long-term receivables (3) Included in the Balance Sheet lines: Investments, advances and long-term receivables and Other assets, including intangibles, net (4) Included in the Balance Sheet lines: Accounts payable and accrued liabilities and Other long-term obligations (5) Excluding finance lease obligations (6) 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 company. |
Long-Term Debt [Abstract] | |
Schedule Of Debt Instruments [Text Block] | Carrying Issuance Date Description of Notes Value (millions of dollars) March 2020 2.992% notes due 2025 1,500 3.294% notes due 2027 1,000 3.482% notes due 2030 2,000 4.227% notes due 2040 1,250 4.327% notes due 2050 2,750 April 2020 1.571% notes due 2023 2,750 2.992% notes due 2025 (1) 1,314 2.610% notes due 2030 2,000 4.227% notes due 2040 (1) 842 3.452% notes due 2051 2,750 June 2020 (2) 0.142% notes due 2024 1,680 0.524% notes due 2028 1,120 0.835% notes due 2032 1,120 1.408% notes due 2039 1,120 Total 23,196 (1) Includes premiums of $ 156 million. (2) Euro-denominated. |
Schedule Of Notional Amounts Of Outstanding Derivative Positions [Table Text Block] | June 30, Dec. 31, 2020 2019 Crude oil (millions of barrels) ( 32) 57 Petroleum products (millions of barrels) ( 53) ( 38) Natural Gas (MMBTUs) ( 351) ( 165) |
Derivative Instruments - Before-Tax Realized and Unrealized Gains / (Losses) | Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 (millions of dollars) Sales and other operating revenue ( 251) 33 985 ( 242) Crude oil and product purchases ( 178) 33 ( 530) 15 Total ( 429) 66 455 ( 227) |
Disclosures About Segments An_2
Disclosures About Segments And Related Information (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Disclosures About Segments And Related Information [Abstract] | |
Disclosures About Segments And Related Information | Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Earnings (Loss) After Income Tax (millions of dollars) Upstream United States ( 1,197) 335 ( 1,901) 431 Non-U.S. ( 454) 2,926 786 5,706 Downstream United States ( 101) 310 ( 202) 149 Non-U.S. 1,077 141 567 46 Chemical United States 171 ( 6) 459 155 Non-U.S. 296 194 152 551 Corporate and financing ( 872) ( 770) ( 1,551) ( 1,558) Corporate total ( 1,080) 3,130 ( 1,690) 5,480 Sales and Other Operating Revenue Upstream United States 1,081 2,594 2,858 5,287 Non-U.S. 2,022 3,709 4,589 7,513 Downstream United States 8,203 18,721 23,587 34,363 Non-U.S. 16,302 35,306 45,606 67,603 Chemical United States 1,570 2,504 3,866 5,009 Non-U.S. 3,090 4,647 6,890 9,342 Corporate and financing 9 10 15 20 Corporate total 32,277 67,491 87,411 129,137 Intersegment Revenue Upstream United States 1,378 2,641 3,651 4,952 Non-U.S. 2,852 8,376 9,239 15,505 Downstream United States 2,056 6,742 6,008 11,503 Non-U.S. 2,752 6,568 7,876 12,737 Chemical United States 1,220 2,569 2,986 4,458 Non-U.S. 708 1,583 1,971 3,130 Corporate and financing 56 55 111 108 |
Geographic Sales And Other Operating Revenue | Geographic Three Months Ended Six Months Ended June 30, June 30, Sales and Other Operating Revenue 2020 2019 2020 2019 (millions of dollars) United States 10,854 23,819 30,311 44,659 Non-U.S. 21,423 43,672 57,100 84,478 Total 32,277 67,491 87,411 129,137 Significant Non-U.S. revenue sources include: (1) Canada 2,148 5,346 5,971 10,196 United Kingdom 1,906 4,781 5,597 9,202 Singapore 1,867 3,135 4,483 6,255 France 1,583 3,258 4,172 6,332 Italy 1,228 2,494 3,186 5,139 Belgium 1,247 3,245 3,136 6,773 (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. |
Allowance for Current Expecte_2
Allowance for Current Expected Credit Loss (CECL) (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Allowance For Current Expected Credit Loss (CECL) [Abstract] | |
Allowance for Credit Loss | Reserve for Liabilities for Notes and Other Off-Balance Receivables and Loans Sheet Assets Trade Other Total (millions of dollars) Balance at December 31, 2019 34 469 - 503 Cumulative effect of accounting change 52 45 12 109 Current period provision 8 2 - 10 Write-offs charged against the allowance ( 1) ( 1) - ( 2) Other - ( 12) - ( 12) Balance at June 30, 2020 93 503 12 608 |
Miscellaneous Financial Infor_2
Miscellaneous Financial Information (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2020 | |
Miscellaneous Financial Information [Abstract] | |||
Inventory write down charge, consolidated companies including noncontrolling interests - before tax | $ (2,624) | $ 2,777 | $ 153 |
Inventory write down charge, ExxonMobil share including equity companies - after tax | $ 1,922 | ||
After-tax impairment charges | 836 | ||
Goodwill impairment | 562 | ||
Other impairment charges | $ 274 |
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 | Jun. 30, 2020USD ($) |
Litigation And Other Contingencies [Line Items] | |
Guarantees | $ 6,372 |
Equity Company Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 1,596 |
Other Third Party Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 4,776 |
Debt Related Guarantees [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 1,017 |
Debt Related Guarantees [Member] | Equity Company Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 904 |
Debt Related Guarantees [Member] | Other Third Party Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 113 |
Other Guarantees [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 5,355 |
Other Guarantees [Member] | Equity Company Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 692 |
Other Guarantees [Member] | Other Third Party Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | $ 4,663 |
Other Comprehensive Income In_3
Other Comprehensive Income Information (Schedule Of Accumulated Other Comprehensive Income Information) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
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 | $ 2,875 | $ 600 | $ (2,774) | $ 1,349 |
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 | (136) | (34) | (49) | (60) |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 203 | 141 | 407 | 326 |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||||
Beginning Balance, Total | (19,493) | |||
Ending Balance, Total | (21,617) | (21,617) | ||
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 | (12,446) | (13,881) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | (2,469) | 1,096 | ||
Total change in accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | (2,469) | 1,096 | ||
Ending Balance, Cumulative Foreign Exchange Translation Adjustment | (14,915) | (12,785) | (14,915) | (12,785) |
Net investment hedge gain/(loss), net of taxes | 5 | |||
Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease [Abstract] | ||||
Beginning Balance, Postretirement Benefits Reserves Adjustment | (7,047) | (5,683) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | (45) | (49) | ||
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 390 | 312 | ||
Total change in accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 345 | 263 | ||
Ending Balance, Postretirement Benefits Reserves Adjustment | (6,702) | (5,420) | (6,702) | (5,420) |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||||
Beginning Balance, Total | (19,493) | (19,564) | ||
Current period change excluding amounts reclassified from accumulated other comprehensive income, Total | (2,514) | 1,047 | ||
Amounts reclassified from accumulated other comprehensive income, Total | 390 | 312 | ||
Total change in accumulated other comprehensive income, Total | (2,124) | 1,359 | ||
Ending Balance, Total | $ (21,617) | $ (18,205) | $ (21,617) | $ (18,205) |
Other Comprehensive Income In_4
Other Comprehensive Income Information (Amounts Reclassified Out Of Acc Other Comp Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Other Comprehensive Income Information Before Tax [Abstract] | ||||
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (Statement of Income line: Non-service pension and postretirement benefit expense) | $ (260) | $ (191) | $ (522) | $ (428) |
Other Comprehensive Income In_5
Other Comprehensive Income Information (Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Other Comprehensive Income Information Tax [Abstract] | ||||
Foreign exchange translation adjustment | $ 8 | $ 15 | ||
Postretirement benefits reserves adjustment (excluding amortization) | 52 | $ 10 | (10) | $ 20 |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | (57) | (50) | (115) | (102) |
Total | $ 3 | $ (40) | $ (110) | $ (82) |
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 | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Earnings per common share | ||||
Net income (loss) attributable to ExxonMobil (millions of dollars) | $ (1,080) | $ 3,130 | $ (1,690) | $ 5,480 |
Weighted average number of common shares outstanding (millions of shares) | 4,271 | 4,271 | 4,270 | 4,270 |
Earnings (Loss) per common share (dollars) | $ (0.26) | $ 0.73 | $ (0.40) | $ 1.28 |
Dividends paid per common share (dollars) | $ 0.87 | $ 0.87 | $ 1.74 | $ 1.69 |
Pension And Other Postretirem_3
Pension And Other Postretirement Benefits (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Pension Benefits - U.S. | ||||
Service cost | $ 232 | $ 180 | $ 467 | $ 355 |
Interest cost | 177 | 189 | 354 | 382 |
Expected return on plan assets | (175) | (142) | (350) | (284) |
Amortization of actuarial loss/(gain) and prior service cost | 79 | 79 | 158 | 156 |
Net pension enhancement and curtailment/settlement cost | 52 | 53 | 104 | 107 |
Net benefit cost | 365 | 359 | 733 | 716 |
Pension Benefits - Non-U.S. [Member] | ||||
Service cost | 171 | 138 | 346 | 277 |
Interest cost | 162 | 192 | 323 | 384 |
Expected return on plan assets | (216) | (192) | (438) | (389) |
Amortization of actuarial loss/(gain) and prior service cost | 115 | 55 | 234 | 158 |
Net benefit cost | 232 | 193 | 465 | 430 |
Other Postretirement Benefits [Member] | ||||
Service cost | 44 | 33 | 89 | 66 |
Interest cost | 68 | 79 | 138 | 158 |
Expected return on plan assets | (5) | (4) | (9) | (8) |
Amortization of actuarial loss/(gain) and prior service cost | 14 | 4 | 26 | 7 |
Net benefit cost | $ 121 | $ 112 | $ 244 | $ 223 |
Financial Instruments and Der_3
Financial Instruments and Derivatives (Narrative) (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Financial Instruments And Derivatives [Abstract] | |
Initial Margin Collateral Receivable | $ 496 |
Net investment hedge, European business | 1,900 |
Short Term Financing [Member] | |
Debt Instrument [Line Items] | |
Unused credit line | 15,400 |
Long Term Financing [Member] | |
Debt Instrument [Line Items] | |
Unused credit line | $ 200 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Millions | Jun. 30, 2020 | Dec. 31, 2019 |
Total Gross Assets & Liabilities [Domain] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | $ 1,653 | $ 635 |
Advances to/receivables from equity companies | 8,711 | 8,670 |
Other long-term financial assets | 2,046 | 2,119 |
Derivative liabilities | 1,836 | 638 |
Long-term debt | 49,276 | 25,789 |
Long-term obligations to equity companies | 3,766 | 4,245 |
Other long-term financial liabilities | 1,066 | 1,042 |
Net Carrying Value [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | 165 | 102 |
Advances to/receivables from equity companies | 8,759 | 8,542 |
Other long-term financial assets | 2,183 | 2,163 |
Derivative liabilities | 88 | 70 |
Long-term debt | 45,314 | 24,672 |
Long-term obligations to equity companies | 3,831 | 3,988 |
Other long-term financial liabilities | 1,072 | 1,058 |
Effect Of Counterparty Netting [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | (1,423) | (463) |
Derivative liabilities | (1,423) | (463) |
Effect Of Collateral Netting [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | (65) | (70) |
Derivative liabilities | (325) | (105) |
Difference In Carrying Value And Fair Value [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Advances to/receivables from equity companies | 48 | (128) |
Other long-term financial assets | 137 | 44 |
Long-term debt | (3,962) | (1,117) |
Long-term obligations to equity companies | 65 | (257) |
Other long-term financial liabilities | 6 | 16 |
Level 1 [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | 1,488 | 533 |
Other long-term financial assets | 1,157 | 1,145 |
Derivative liabilities | 1,748 | 568 |
Long-term debt | 49,106 | 25,652 |
Level 2 [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | 165 | 102 |
Advances to/receivables from equity companies | 1,916 | 1,941 |
Derivative liabilities | 88 | 70 |
Long-term debt | 166 | 134 |
Level 3 [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Advances to/receivables from equity companies | 6,795 | 6,729 |
Other long-term financial assets | 889 | 974 |
Long-term debt | 4 | 3 |
Long-term obligations to equity companies | 3,766 | 4,245 |
Other long-term financial liabilities | $ 1,066 | $ 1,042 |
Financial Instruments Long Term
Financial Instruments Long Term Debt (Details) - Exxon Mobil Corporation [Member] $ in Millions | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Debt Instrument [Line Items] | |
Long-term debt | $ 23,196 |
2.992% Notes Due 2025 (Issued March 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 1,500 |
Interest rate | 2.992% |
Debt Instrument Issuance Date | Mar. 19, 2020 |
3.294% Notes Due 2027 [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 1,000 |
Interest rate | 3.294% |
Debt Instrument Issuance Date | Mar. 19, 2020 |
3.482% Notes Due 2030 [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 2,000 |
Interest rate | 3.482% |
Debt Instrument Issuance Date | Mar. 19, 2020 |
4.227% Notes Due 2040 (Issued March 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 1,250 |
Interest rate | 4.227% |
Debt Instrument Issuance Date | Mar. 19, 2020 |
4.327% Notes Due 2050 [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 2,750 |
Interest rate | 4.327% |
Debt Instrument Issuance Date | Mar. 19, 2020 |
1.571% Notes Due 2023 [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 2,750 |
Interest rate | 1.571% |
Debt Instrument Issuance Date | Apr. 15, 2020 |
2.992% Notes Due 2025 (Issued April 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 1,314 |
Interest rate | 2.992% |
Debt Instrument Issuance Date | Apr. 15, 2020 |
2.610% Notes Due 2030 [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 2,000 |
Interest rate | 2.61% |
Debt Instrument Issuance Date | Apr. 15, 2020 |
4.227% Notes Due 2040 (Issued April 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 842 |
Interest rate | 4.227% |
Debt Instrument Issuance Date | Apr. 15, 2020 |
3.452% Notes Due 2051 [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 2,750 |
Interest rate | 3.452% |
Debt Instrument Issuance Date | Apr. 15, 2020 |
2.992% Notes Due 2025 and 4.227% Notes Due 2040 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, unamortized premium | $ 156 |
0.142% Notes Due 2024 [Member] | Other Foreign Currency Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 1,680 |
Interest rate | 0.142% |
Debt Instrument Issuance Date | Jun. 26, 2020 |
0.524% Notes Due 2028 [Member] | Other Foreign Currency Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 1,120 |
Interest rate | 0.524% |
Debt Instrument Issuance Date | Jun. 26, 2020 |
0.835% Notes Due 2032 [Member] | Other Foreign Currency Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 1,120 |
Interest rate | 0.835% |
Debt Instrument Issuance Date | Jun. 26, 2020 |
1.408% Notes Due 2039 [Member] | Other Foreign Currency Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt | $ 1,120 |
Interest rate | 1.408% |
Debt Instrument Issuance Date | Jun. 26, 2020 |
Derivative Instrument Balance S
Derivative Instrument Balance Sheet (Details) bbl in Millions, MMBTU in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020MMBTUbbl | Dec. 31, 2019MMBTUbbl | |
Crude Oil [Member] | Long [Member] | ||
Net notional long / short position of derivative instruments bbl | 57 | |
Crude Oil [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments bbl | 32 | |
Products [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments bbl | 53 | 38 |
Natural Gas [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments MMBtus | MMBTU | 351 | 165 |
Derivative Instruments (Details
Derivative Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Realized and Unrealized Before-Tax Gain / (Loss) on Derivative Instruments Recognized in the Consolidated Statement of Income | ||||
Sales and other operating revenue | $ 32,277 | $ 67,491 | $ 87,411 | $ 129,137 |
Crude oil and product purchases | 14,069 | 38,942 | 46,152 | 73,743 |
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 | (251) | 33 | 985 | (242) |
Crude oil and product purchases | (178) | 33 | (530) | 15 |
Total | $ (429) | $ 66 | $ 455 | $ (227) |
Disclosures About Segments An_3
Disclosures About Segments And Related Information (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | $ (1,080) | $ 3,130 | $ (1,690) | $ 5,480 |
Sales and other operating revenue | 32,277 | 67,491 | 87,411 | 129,137 |
Upstream United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | (1,197) | 335 | (1,901) | 431 |
Sales and other operating revenue | 1,081 | 2,594 | 2,858 | 5,287 |
Intersegment Revenue | 1,378 | 2,641 | 3,651 | 4,952 |
Upstream Non-U.S. [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | (454) | 2,926 | 786 | 5,706 |
Sales and other operating revenue | 2,022 | 3,709 | 4,589 | 7,513 |
Intersegment Revenue | 2,852 | 8,376 | 9,239 | 15,505 |
Downstream United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | (101) | 310 | (202) | 149 |
Sales and other operating revenue | 8,203 | 18,721 | 23,587 | 34,363 |
Intersegment Revenue | 2,056 | 6,742 | 6,008 | 11,503 |
Downstream Non-U.S. [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | 1,077 | 141 | 567 | 46 |
Sales and other operating revenue | 16,302 | 35,306 | 45,606 | 67,603 |
Intersegment Revenue | 2,752 | 6,568 | 7,876 | 12,737 |
Chemical United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | 171 | (6) | 459 | 155 |
Sales and other operating revenue | 1,570 | 2,504 | 3,866 | 5,009 |
Intersegment Revenue | 1,220 | 2,569 | 2,986 | 4,458 |
Chemical Non-U.S. [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | 296 | 194 | 152 | 551 |
Sales and other operating revenue | 3,090 | 4,647 | 6,890 | 9,342 |
Intersegment Revenue | 708 | 1,583 | 1,971 | 3,130 |
Corporate And Financing [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | (872) | (770) | (1,551) | (1,558) |
Sales and other operating revenue | 9 | 10 | 15 | 20 |
Intersegment Revenue | $ 56 | $ 55 | $ 111 | $ 108 |
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 | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | $ 32,277 | $ 67,491 | $ 87,411 | $ 129,137 |
U.S. [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 10,854 | 23,819 | 30,311 | 44,659 |
Non-U.S. [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 21,423 | 43,672 | 57,100 | 84,478 |
Canada [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 2,148 | 5,346 | 5,971 | 10,196 |
United Kingdom [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 1,906 | 4,781 | 5,597 | 9,202 |
Singapore [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 1,867 | 3,135 | 4,483 | 6,255 |
France [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 1,583 | 3,258 | 4,172 | 6,332 |
Italy [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 1,228 | 2,494 | 3,186 | 5,139 |
Belgium [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | $ 1,247 | $ 3,245 | $ 3,136 | $ 6,773 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - Previously Recorded Operating Lease [Member] $ in Billions | Dec. 31, 2019USD ($) |
Lessee Lease Description [Line Items] | |
Operating lease liability | $ 1.3 |
Operating lease right of use asset | $ 1.3 |
Current Expected Credit Loss (N
Current Expected Credit Loss (Narrative) (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Cumulative effect of accounting change | $ (94) |
Notes and accounts receivable, net of allowances - Financial Instruments under Topic 326 | 15,519 |
Notes and accounts receivable, allowances - Financial Instruments under Topic 326 | 153 |
Loans and long term receivables, net of allowances - Financial Instruments under Topic 326 | 9,434 |
Loans and long term receivables, allowances - Financial Instruments under Topic 326 | 443 |
ExxonMobil Share Of Earnings Reinvested [Member] | |
Cumulative effect of accounting change | $ (93) |
Current Expected Credit Loss (D
Current Expected Credit Loss (Details) $ in Millions | 6 Months Ended |
Jun. 30, 2020USD ($) | |
Financing Receivable Allowance For Credit Losses [Roll Forward] | |
Balance at December 31, 2019, Total | $ 503 |
Cumulative effect of accounting change, Total | 109 |
Current period provision, Total | 10 |
Write-offs charged against the allowance, Total | (2) |
Other, Total | (12) |
Balance at June 30, 2020, Total | 608 |
Liabilities for Off-Balance Sheet Assets [Roll Forward] | |
Cumulative effect of accounting change, Off-Balance Sheet Assets | 12 |
Balance at June 30, 2020, Off-Balance Sheet Assets | 12 |
Trade Accounts Receivable [Member] | |
Financing Receivable Allowance For Credit Losses [Roll Forward] | |
Balance at December 31, 2019, Trade and Other | 34 |
Cumulative effect of accounting change, Trade and Other | 52 |
Current period provision, Trade and Other | 8 |
Write-offs charged against the allowance, Trade and Other | (1) |
Balance at June 30, 2020, Trade and Other | 93 |
Loans And Finance Receivables [Member] | |
Financing Receivable Allowance For Credit Losses [Roll Forward] | |
Balance at December 31, 2019, Trade and Other | 469 |
Cumulative effect of accounting change, Trade and Other | 45 |
Current period provision, Trade and Other | 2 |
Write-offs charged against the allowance, Trade and Other | (1) |
Other, Trade and Other | (12) |
Balance at June 30, 2020, Trade and Other | $ 503 |