Document And Entity Information
Document And Entity Information | 9 Months Ended |
Sep. 30, 2020shares | |
Cover [Abstract] | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Sep. 30, 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 | 4,228,234,114 |
Amendment Flag | false |
Entity Central Index Key | 0000034088 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q3 |
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 | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenues and other income | ||||
Sales and other operating revenue | $ 45,425 | $ 63,422 | $ 132,836 | $ 192,559 |
Income from equity affiliates | 517 | 1,196 | 1,395 | 4,264 |
Other income | 257 | 431 | 731 | 942 |
Total revenues and other income | 46,199 | 65,049 | 134,962 | 197,765 |
Costs and other deductions | ||||
Crude oil and product purchases | 23,950 | 35,290 | 70,102 | 109,033 |
Production and manufacturing expenses | 7,103 | 8,848 | 22,295 | 27,340 |
Selling, general and administrative expenses | 2,444 | 2,753 | 7,432 | 8,350 |
Depreciation and depletion | 4,983 | 4,873 | 15,718 | 14,075 |
Exploration expenses, including dry holes | 188 | 299 | 690 | 912 |
Non-service pension and postretirement benefit expense | 272 | 357 | 812 | 1,028 |
Interest expense | 279 | 232 | 845 | 629 |
Other taxes and duties | 7,352 | 7,676 | 19,338 | 22,756 |
Total costs and other deductions | 46,571 | 60,328 | 137,232 | 184,123 |
Income (Loss) before income taxes | (372) | 4,721 | (2,270) | 13,642 |
Income taxes | 337 | 1,474 | 378 | 4,598 |
Net income (loss) including noncontrolling interests | (709) | 3,247 | (2,648) | 9,044 |
Net income (loss) attributable to noncontrolling interests | (29) | 77 | (278) | 394 |
Net income (loss) attributable to ExxonMobil | $ (680) | $ 3,170 | $ (2,370) | $ 8,650 |
Earnings (Loss) per common share (dollars) | $ (0.15) | $ 0.75 | $ (0.55) | $ 2.03 |
Earnings (Loss) per common share - assuming dilution (dollars) | $ (0.15) | $ 0.75 | $ (0.55) | $ 2.03 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income (loss) including noncontrolling interests | $ (709) | $ 3,247 | $ (2,648) | $ 9,044 |
Other comprehensive income (loss) (net of income taxes) | ||||
Foreign exchange translation adjustment | 1,469 | (1,424) | (1,305) | (75) |
Adjustment for foreign exchange translation (gain)/loss included in net income | 14 | 0 | 14 | 0 |
Postretirement benefits reserves adjustment (excluding amortization) | (140) | 103 | (189) | 43 |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | 206 | 186 | 613 | 512 |
Total other comprehensive income (loss) | 1,549 | (1,135) | (867) | 480 |
Comprehensive income (loss) including noncontrolling interests | 840 | 2,112 | (3,515) | 9,524 |
Comprehensive income (loss) attributable to noncontrolling interests | 92 | 14 | (449) | 587 |
Comprehensive income (loss) attributable to ExxonMobil | $ 748 | $ 2,098 | $ (3,066) | $ 8,937 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheet - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Current assets | ||
Cash and cash equivalents | $ 8,832 | $ 3,089 |
Notes and accounts receivable – net | 19,974 | 26,966 |
Inventories | ||
Crude oil, products and merchandise | 13,162 | 14,010 |
Materials and supplies | 4,723 | 4,518 |
Other current assets | 2,002 | 1,469 |
Total current assets | 48,693 | 50,052 |
Investments, advances and long-term receivables | 43,609 | 43,164 |
Property, plant and equipment – net | 250,496 | 253,018 |
Other assets, including intangibles – net | 15,245 | 16,363 |
Total assets | 358,043 | 362,597 |
Current liabilities | ||
Notes and loans payable | 21,911 | 20,578 |
Accounts payable and accrued liabilities | 33,340 | 41,831 |
Income taxes payable | 1,217 | 1,580 |
Total current liabilities | 56,468 | 63,989 |
Long-term debt | 46,888 | 26,342 |
Postretirement benefits reserves | 22,097 | 22,304 |
Deferred income tax liabilities | 24,467 | 25,620 |
Long-term obligations to equity companies | 3,486 | 3,988 |
Other long-term obligations | 20,025 | 21,416 |
Total liabilities | 173,431 | 163,659 |
Commitments and contingencies (Note 3) | ||
Equity | ||
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) | 15,997 | 15,637 |
Earnings reinvested | 407,728 | 421,341 |
Accumulated other comprehensive income | (20,189) | (19,493) |
Common stock held in treasury (3,791 million shares at Sep. 30, 2020 and 3,785 million shares at Dec. 31, 2019) | (226,136) | (225,835) |
ExxonMobil share of equity | 177,400 | 191,650 |
Noncontrolling interests | 7,212 | 7,288 |
Total equity | 184,612 | 198,938 |
Total liabilities and equity | $ 358,043 | $ 362,597 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheet (Parenthetical) - $ / shares shares in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Common stock, without par value | ||
Common stock, shares authorized | 9,000 | 9,000 |
Common stock, shares, issued | 8,019 | 8,019 |
Common stock held in treasury, shares | 3,791 | 3,785 |
Condensed Consolidated Statem_3
Condensed Consolidated Statement Of Cash Flows - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Cash flows from operating activities | |||
Net income (loss) including noncontrolling interests | $ (2,648) | $ 9,044 | |
Depreciation and depletion | 15,718 | 14,075 | |
Noncash inventory adjustment - lower of cost or market | 61 | 0 | |
Changes in operational working capital, excluding cash and debt | (1,539) | 2,564 | |
All other items – net | (929) | (2,319) | |
Net cash provided by operating activities | 10,663 | 23,364 | |
Cash flows from investing activities | |||
Additions to property, plant and equipment | (13,653) | (17,657) | |
Proceeds associated with sales of subsidiaries, property, plant and equipment, and sales and returns of investments | 229 | 600 | |
Additional investments and advances | (3,443) | (2,532) | |
Other investing activities including collection of advances | 1,710 | 769 | |
Net cash used in investing activities | (15,157) | (18,820) | |
Cash flows from financing activities | |||
Additions to long-term debt | 23,186 | 7,019 | |
Reductions in long-term debt | (4) | 0 | |
Reductions in short-term debt | (1,651) | (3,836) | |
Additions/(reductions) in commercial paper, and debt with three months or less maturity | [1] | 139 | 6,139 |
Contingent consideration payments | (21) | 0 | |
Cash dividends to ExxonMobil shareholders | (11,150) | (10,936) | |
Cash dividends to noncontrolling interests | (137) | (157) | |
Changes in noncontrolling interests | 511 | 30 | |
Common stock acquired | (305) | (421) | |
Net cash used in financing activities | 10,568 | (2,162) | |
Effects of exchange rate changes on cash | (331) | (73) | |
Increase/(decrease) in cash and cash equivalents | 5,743 | 2,309 | |
Cash and cash equivalents at beginning of period | 3,089 | 3,042 | |
Cash and cash equivalents at end of period | 8,832 | 5,351 | |
Supplemental Disclosures | |||
Income taxes paid | 2,341 | 5,259 | |
Cash interest paid | |||
Cash interest paid - Included in cash flows from operating activities | 726 | 515 | |
Cash interest paid - Capitalized, included in cash flows from investing activities | 516 | 540 | |
Total cash interest paid | $ 1,242 | $ 1,055 | |
[1] | Includes a net addition of commercial paper with a maturity of over three months of $6.4 billion in 2020 and $3.1 billion in 2019. The gross amount of commercial paper with a maturity of over three months issued was $28.8 billion in 2020 and $13.4 billion in 2019, while the gross amount repaid was $22.4 billion in 2020 and $10.3 billion in 2019. |
Condensed Consolidated Statem_4
Condensed Consolidated Statement Of Cash Flows (Parenthetical) - USD ($) $ in Billions | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Supplemental Cash Flow Elements [Abstract] | ||
Net cash flow from issuance/(repayment) of commercial paper with maturity greater than three months | $ 6.4 | $ 3.1 |
Proceeds from issuance of commercial paper with maturity greater than three months | 28.8 | 13.4 |
Repayments of commercial paper with maturity greater than three months | $ 22.4 | $ 10.3 |
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 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Amortization of stock-based awards | $ 545 | 545 | 545 | ||||
Other | 267 | (8) | (8) | 275 | |||
Net income (loss) 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 (loss) | 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 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Amortization of stock-based awards | $ 156 | 156 | 156 | ||||
Other | 228 | 228 | |||||
Net income (loss) 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 (loss) | (1,135) | (1,072) | (1,072) | (63) | |||
Acquisitions, at cost (NCI) | (79) | ||||||
Acquisitions, at cost (total) | (79) | ||||||
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 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 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Amortization of stock-based awards | $ 545 | 545 | 545 | ||||
Other | 389 | (185) | (185) | 574 | |||
Net income (loss) for the period | (2,648) | (2,370) | (2,370) | (278) | |||
Dividends - common shares (company) | (11,150) | (11,150) | |||||
Dividends - common shares (NCI) | (137) | ||||||
Dividends - common shares (total) | (11,287) | ||||||
Cumulative effect of accounting change | (94) | (93) | (93) | (1) | |||
Other comprehensive income (loss) | (867) | (696) | (696) | (171) | |||
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 Sep. 30, 2020 | $ 184,612 | 15,997 | 407,728 | (20,189) | (226,136) | 177,400 | 7,212 |
Balance (in shares) - issued at Sep. 30, 2020 | 8,019 | ||||||
Balance (in shares) - in treasury at Sep. 30, 2020 | (3,791) | ||||||
Balance (in shares) - outstanding at Sep. 30, 2020 | 4,228 | ||||||
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 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Amortization of stock-based awards | $ 187 | 187 | 187 | ||||
Other | 192 | (2) | (2) | 194 | |||
Net income (loss) for the period | (709) | (680) | (680) | (29) | |||
Dividends - common shares (company) | (3,716) | (3,716) | |||||
Dividends - common shares (NCI) | (44) | ||||||
Dividends - common shares (total) | (3,760) | ||||||
Other comprehensive income (loss) | 1,549 | 1,428 | 1,428 | 121 | |||
Balance at Sep. 30, 2020 | $ 184,612 | $ 15,997 | $ 407,728 | $ (20,189) | $ (226,136) | $ 177,400 | $ 7,212 |
Balance (in shares) - issued at Sep. 30, 2020 | 8,019 | ||||||
Balance (in shares) - in treasury at Sep. 30, 2020 | (3,791) | ||||||
Balance (in shares) - outstanding at Sep. 30, 2020 | 4,228 |
Basis Of Financial Statement Pr
Basis Of Financial Statement Preparation | 9 Months Ended |
Sep. 30, 2020 | |
Basis Of Financial Statement Preparation [Abstract] | |
Basis Of Financial Statement Preparation | Basis of Financial Statement Preparation These unaudited condensed consolidated financial statements should be read in the context of the consolidated financial statements and notes thereto filed with the Securities and Exchange Commission in the Corporation's 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 | 9 Months Ended |
Sep. 30, 2020 | |
Disclosure Text Block Supplement [Abstract] | |
Miscellaneous Financial Information | 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 increases in inventory levels and sharp declines in prices for crude oil and petrochemical products. During the second and third quarters, the effects of COVID-19 continued to have a negative impact on the world’s major economies and demand for our products. Market conditions continue to reflect considerable uncertainty as consumer and business activity has exhibited some degree of recovery, but remains lower when compared to prior periods as a result of the pandemic. 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 third quarter of 2020 included a before-tax credit of $153 million, included in "Crude oil and product purchases" on the Statement of Income, as rising commodity prices resulted in the reversal of the charge against the book value of inventories as of the second quarter. This adjustment, together with a market adjustment to inventory for equity companies included in "Income from equity affiliates," resulted in a $113 million after-tax credit to earnings (excluding noncontrolling interests) in the third quarter. At year-end, any required adjustment to write down the book value of inventories to their market value is considered permanent and is incorporated into the LIFO carrying value of the inventory. Primarily as a result of declines in prices for crude oil and other petrochemical products in 2020 and a significant decline in its market capitalization at the end of the first quarter, the Corporation recognized after-tax impairment charges of $884 million in the nine months ended September 30, 2020. These charges included goodwill impairments of $562 million in Upstream, Downstream, and Chemical reporting units and other impairment charges of $322 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, reflect a write down to estimated fair value based on third party price outlooks, internal estimates of future volumes and costs, and estimates of discount rates for similar properties. Charges related to goodwill and asset impairments are included in “Depreciation and depletion” on the Statement of Income and charges related to equity method investments are included in “Income from equity affiliates.” |
Litigation And Other Contingenc
Litigation And Other Contingencies | 9 Months Ended |
Sep. 30, 2020 | |
Loss Contingency [Abstract] | |
Litigation And Other Contingencies | Litigation and Other Contingencies Litigation. A variety of claims have been made against ExxonMobil and certain of its consolidated subsidiaries in a number of pending lawsuits. Management has regular litigation reviews, including updates from corporate and outside counsel, to assess the need for accounting recognition or disclosure of these contingencies. The Corporation accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. The Corporation does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote. For contingencies where an unfavorable outcome is reasonably possible and which are significant, the Corporation discloses the nature of the contingency and, where feasible, an estimate of the possible loss. For purposes of our contingency disclosures, “significant” includes material matters, as well as other matters which management believes should be disclosed. 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, 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 September 30, 2020 Equity Company Obligations (1) Other Third-Party Obligations Total (millions of dollars) Guarantees Debt-related 968 120 1,088 Other 690 4,806 5,496 Total 1,658 4,926 6,584 (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. |
Other Comprehensive Income Info
Other Comprehensive Income Information | 9 Months Ended |
Sep. 30, 2020 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | |
Other Comprehensive Income Information | Other Comprehensive Income Information ExxonMobil Share of Accumulated Other Comprehensive Income Cumulative Foreign Exchange Translation Adjustment Post-retirement Benefits Reserves 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 (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) Balance as of December 31, 2019 (12,446) (7,047) (19,493) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) (1,125) (172) (1,297) Amounts reclassified from accumulated other comprehensive income 14 587 601 Total change in accumulated other comprehensive income (1,111) 415 (696) Balance as of September 30, 2020 (13,557) (6,632) (20,189) (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) of $(159) million, net of taxes. Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) Three Months Ended Nine Months Ended 2020 2019 2020 2019 (millions of dollars) (millions of dollars) Foreign exchange translation gain/(loss) included in net income (14) — (14) — 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) (268) (236) (790) (664) Income Tax (Expense)/Credit For Components of Other Comprehensive Income Three Months Ended Nine Months Ended 2020 2019 2020 2019 (millions of dollars) (millions of dollars) Foreign exchange translation adjustment 57 1 72 1 Postretirement benefits reserves adjustment (excluding amortization) 74 (56) 64 (36) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (62) (50) (177) (152) Total 69 (105) (41) (187) |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Three Months Ended Nine Months Ended 2020 2019 2020 2019 Earnings per common share Net income (loss) attributable to ExxonMobil (millions of dollars) (680) 3,170 (2,370) 8,650 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) (0.15) 0.75 (0.55) 2.03 Dividends paid per common share (dollars) 0.87 0.87 2.61 2.56 (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 | 9 Months Ended |
Sep. 30, 2020 | |
Retirement Benefits [Abstract] | |
Pension And Other Postretirement Benefits | Pension and Other Postretirement Benefits Three Months Ended Nine Months Ended 2020 2019 2020 2019 (millions of dollars) (millions of dollars) Components of net benefit cost Pension Benefits - U.S. Service cost 245 208 712 563 Interest cost 177 192 531 574 Expected return on plan assets (178) (143) (528) (427) Amortization of actuarial loss/(gain) and prior service cost 79 77 237 233 Net pension enhancement and curtailment/settlement cost 52 54 156 161 Net benefit cost 375 388 1,108 1,104 Pension Benefits - Non-U.S. Service cost 178 136 524 413 Interest cost 165 189 488 573 Expected return on plan assets (226) (192) (664) (581) Amortization of actuarial loss/(gain) and prior service cost 124 102 358 260 Net benefit cost 241 235 706 665 Other Postretirement Benefits Service cost 45 38 134 104 Interest cost 70 79 208 237 Expected return on plan assets (4) (4) (13) (12) Amortization of actuarial loss/(gain) and prior service cost 13 3 39 10 Net benefit cost 124 116 368 339 |
Financial Instruments and Deriv
Financial Instruments and Derivatives | 9 Months Ended |
Sep. 30, 2020 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments and Derivatives | Financial Instruments and Derivatives Financial Instruments. The estimated fair value of financial instruments at September 30, 2020, and December 31, 2019, and the related hierarchy level for the fair value measurement is as follows: At September 30, 2020 (millions of dollars) Fair Value Level 1 Level 2 Level 3 Total Gross Assets Effect of Effect of Difference Net Assets Derivative assets (1) 637 121 — 758 (571) (80) — 107 Advances to/receivables from equity companies (2)(7) — 3,152 6,081 9,233 — — (193) 9,040 Other long-term financial assets (3) 1,197 — 915 2,112 — — 130 2,242 Liabilities Derivative liabilities (4) 817 91 — 908 (571) (259) — 78 Long-term debt (5) 49,153 149 4 49,306 — — (4,031) 45,275 Long-term obligations to equity companies (7) — — 3,685 3,685 — — (199) 3,486 Other long-term financial liabilities (6) — — 1,073 1,073 — — 11 1,084 At December 31, 2019 (millions of dollars) Fair Value Level 1 Level 2 Level 3 Total Gross Effect of Effect of Difference Net 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 September 30, 2020, the Corporation had $462 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 September 30, 2020, is below: Issuance Date Description of Notes Carrying 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) 1,310 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 1,756 0.524% Notes due 2028 1,171 0.835% Notes due 2032 1,171 1.408% Notes due 2039 1,171 Total 23,421 (1) Includes premiums of $152 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 September 30, 2020, the Corporation has designated $5.3 billion of its Euro-denominated long-term debt and related accrued interest as a net investment hedge of its European business. The net investment hedge is deemed to be perfectly effective. The Corporation had undrawn short-term committed lines of credit of $11.0 billion and an undrawn long-term committed line of credit of $0.2 billion as of third quarter 2020. In the third quarter, the Corporation increased its 364-day facility from $7.5 billion to $10.0 billion and terminated the supplemental $7.0 billion facility that was established in the first quarter of 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 September 30, 2020, and December 31, 2019, or results of operations for the periods ended September 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 September 30, 2020, and December 31, 2019, was as follows: September 30, December 31, 2020 2019 (millions) Crude oil (barrels) 50 57 Petroleum products (barrels) (50) (38) Natural Gas (MMBTUs) (438) (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 Nine Months Ended 2020 2019 2020 2019 (millions of dollars) (millions of dollars) Sales and other operating revenue (297) 144 688 (98) Crude oil and product purchases 134 60 (396) 75 Total (163) 204 292 (23) |
Disclosures About Segments And
Disclosures About Segments And Related Information | 9 Months Ended |
Sep. 30, 2020 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Disclosures About Segments And Related Information | Disclosures about Segments and Related Information Three Months Ended Nine Months Ended 2020 2019 2020 2019 Earnings (Loss) After Income Tax (millions of dollars) (millions of dollars) Upstream United States (681) 37 (2,582) 468 Non-U.S. 298 2,131 1,084 7,837 Downstream United States (136) 673 (338) 822 Non-U.S. (95) 557 472 603 Chemical United States 357 53 816 208 Non-U.S. 304 188 456 739 Corporate and financing (727) (469) (2,278) (2,027) Corporate total (680) 3,170 (2,370) 8,650 Sales and Other Operating Revenue Upstream United States 1,422 1,941 4,280 7,228 Non-U.S. 2,015 3,069 6,604 10,582 Downstream United States 12,267 18,358 35,854 52,721 Non-U.S. 23,862 33,391 69,468 100,994 Chemical United States 2,162 2,412 6,028 7,421 Non-U.S. 3,684 4,241 10,574 13,583 Corporate and financing 13 10 28 30 Corporate total 45,425 63,422 132,836 192,559 Intersegment Revenue Upstream United States 2,348 2,876 5,999 7,828 Non-U.S. 5,132 7,383 14,371 22,888 Downstream United States 2,812 5,439 8,820 16,942 Non-U.S. 3,334 5,826 11,210 18,563 Chemical United States 1,480 1,489 4,466 5,947 Non-U.S. 895 1,413 2,866 4,543 Corporate and financing 55 60 166 168 Geographic Three Months Ended Nine Months Ended Sales and Other Operating Revenue 2020 2019 2020 2019 (millions of dollars) (millions of dollars) United States 15,851 22,711 46,162 67,370 Non-U.S. 29,574 40,711 86,674 125,189 Total 45,425 63,422 132,836 192,559 Significant Non-U.S. revenue sources include: (1) Canada 3,566 4,945 9,537 15,141 United Kingdom 2,827 4,042 8,424 13,244 Singapore 2,400 2,942 6,883 9,197 France 2,273 3,266 6,446 9,597 Italy 2,055 2,691 5,241 7,830 Belgium 1,504 2,598 4,639 9,371 (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, 2020 | |
Leases [Abstract] | |
Leases | LeasesA 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) | 9 Months Ended |
Sep. 30, 2020 | |
Allowance for Credit Loss [Abstract] | |
Allowance For Current Expected Credit Loss (CECL) | 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 nine months 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 September 30, 2020, the Corporation’s evaluation of financial assets under Financial Instruments – Credit Losses (Topic 326) , as amended, included $16,450 million of notes and accounts receivable, net of allowances of $148 million, and $9,668 million of loans and long-term receivables, net of allowances of $436 million, and certain other financial assets where there is immaterial risk of loss. Reserve for Liabilities for Off- Balance 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 — (4) (1) (5) Write-offs charged against the allowance (1) (1) — (2) Other — (10) — (10) Balance at September 30, 2020 85 499 11 595 |
Summary of Accounting Policies
Summary of Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2020 | |
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). |
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. |
Litigation And Other Continge_2
Litigation And Other Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Loss Contingency [Abstract] | |
Schedule Of Guarantees | As of September 30, 2020 Equity Company Obligations (1) Other Third-Party Obligations Total (millions of dollars) Guarantees Debt-related 968 120 1,088 Other 690 4,806 5,496 Total 1,658 4,926 6,584 (1) ExxonMobil share |
Other Comprehensive Income In_2
Other Comprehensive Income Information (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | |
Schedule Of Accumulated Other Comprehensive Income Information | ExxonMobil Share of Accumulated Other Comprehensive Income Cumulative Foreign Exchange Translation Adjustment Post-retirement Benefits Reserves 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 (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) Balance as of December 31, 2019 (12,446) (7,047) (19,493) Current period change excluding amounts reclassified from accumulated other comprehensive income (1) (1,125) (172) (1,297) Amounts reclassified from accumulated other comprehensive income 14 587 601 Total change in accumulated other comprehensive income (1,111) 415 (696) Balance as of September 30, 2020 (13,557) (6,632) (20,189) (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) of $(159) million, net of taxes. |
Reclassification Out Of Accumulated Other Comprehensive Income | Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) Three Months Ended Nine Months Ended 2020 2019 2020 2019 (millions of dollars) (millions of dollars) Foreign exchange translation gain/(loss) included in net income (14) — (14) — 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) (268) (236) (790) (664) |
Schedule Of Income Tax (Expense)/Credit For Components Of Other Comprehensive Income | Income Tax (Expense)/Credit For Components of Other Comprehensive Income Three Months Ended Nine Months Ended 2020 2019 2020 2019 (millions of dollars) (millions of dollars) Foreign exchange translation adjustment 57 1 72 1 Postretirement benefits reserves adjustment (excluding amortization) 74 (56) 64 (36) Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs (62) (50) (177) (152) Total 69 (105) (41) (187) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share Computation | Three Months Ended Nine Months Ended 2020 2019 2020 2019 Earnings per common share Net income (loss) attributable to ExxonMobil (millions of dollars) (680) 3,170 (2,370) 8,650 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) (0.15) 0.75 (0.55) 2.03 Dividends paid per common share (dollars) 0.87 0.87 2.61 2.56 (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) | 9 Months Ended |
Sep. 30, 2020 | |
Retirement Benefits [Abstract] | |
Pension And Other Postretirement Benefits | Three Months Ended Nine Months Ended 2020 2019 2020 2019 (millions of dollars) (millions of dollars) Components of net benefit cost Pension Benefits - U.S. Service cost 245 208 712 563 Interest cost 177 192 531 574 Expected return on plan assets (178) (143) (528) (427) Amortization of actuarial loss/(gain) and prior service cost 79 77 237 233 Net pension enhancement and curtailment/settlement cost 52 54 156 161 Net benefit cost 375 388 1,108 1,104 Pension Benefits - Non-U.S. Service cost 178 136 524 413 Interest cost 165 189 488 573 Expected return on plan assets (226) (192) (664) (581) Amortization of actuarial loss/(gain) and prior service cost 124 102 358 260 Net benefit cost 241 235 706 665 Other Postretirement Benefits Service cost 45 38 134 104 Interest cost 70 79 208 237 Expected return on plan assets (4) (4) (13) (12) Amortization of actuarial loss/(gain) and prior service cost 13 3 39 10 Net benefit cost 124 116 368 339 |
Financial Instruments and Der_2
Financial Instruments and Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Financial Instruments And Derivatives [Abstract] | |
Financial Instruments | The estimated fair value of financial instruments at September 30, 2020, and December 31, 2019, and the related hierarchy level for the fair value measurement is as follows: At September 30, 2020 (millions of dollars) Fair Value Level 1 Level 2 Level 3 Total Gross Assets Effect of Effect of Difference Net Assets Derivative assets (1) 637 121 — 758 (571) (80) — 107 Advances to/receivables from equity companies (2)(7) — 3,152 6,081 9,233 — — (193) 9,040 Other long-term financial assets (3) 1,197 — 915 2,112 — — 130 2,242 Liabilities Derivative liabilities (4) 817 91 — 908 (571) (259) — 78 Long-term debt (5) 49,153 149 4 49,306 — — (4,031) 45,275 Long-term obligations to equity companies (7) — — 3,685 3,685 — — (199) 3,486 Other long-term financial liabilities (6) — — 1,073 1,073 — — 11 1,084 At December 31, 2019 (millions of dollars) Fair Value Level 1 Level 2 Level 3 Total Gross Effect of Effect of Difference Net 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 | 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 September 30, 2020, is below: Issuance Date Description of Notes Carrying 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) 1,310 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 1,756 0.524% Notes due 2028 1,171 0.835% Notes due 2032 1,171 1.408% Notes due 2039 1,171 Total 23,421 (1) Includes premiums of $152 million. (2) Euro-denominated. |
Schedule of Notional Amounts of Outstanding Derivative Positions | The net notional long/(short) position of derivative instruments at September 30, 2020, and December 31, 2019, was as follows: September 30, December 31, 2020 2019 (millions) Crude oil (barrels) 50 57 Petroleum products (barrels) (50) (38) Natural Gas (MMBTUs) (438) (165) |
Derivative Instruments - Before-Tax Realized and Unrealized Gains / (Losses) | 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 2020 2019 2020 2019 (millions of dollars) (millions of dollars) Sales and other operating revenue (297) 144 688 (98) Crude oil and product purchases 134 60 (396) 75 Total (163) 204 292 (23) |
Disclosures About Segments An_2
Disclosures About Segments And Related Information (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Segment Reporting, Measurement Disclosures [Abstract] | |
Disclosures About Segments And Related Information | Three Months Ended Nine Months Ended 2020 2019 2020 2019 Earnings (Loss) After Income Tax (millions of dollars) (millions of dollars) Upstream United States (681) 37 (2,582) 468 Non-U.S. 298 2,131 1,084 7,837 Downstream United States (136) 673 (338) 822 Non-U.S. (95) 557 472 603 Chemical United States 357 53 816 208 Non-U.S. 304 188 456 739 Corporate and financing (727) (469) (2,278) (2,027) Corporate total (680) 3,170 (2,370) 8,650 Sales and Other Operating Revenue Upstream United States 1,422 1,941 4,280 7,228 Non-U.S. 2,015 3,069 6,604 10,582 Downstream United States 12,267 18,358 35,854 52,721 Non-U.S. 23,862 33,391 69,468 100,994 Chemical United States 2,162 2,412 6,028 7,421 Non-U.S. 3,684 4,241 10,574 13,583 Corporate and financing 13 10 28 30 Corporate total 45,425 63,422 132,836 192,559 Intersegment Revenue Upstream United States 2,348 2,876 5,999 7,828 Non-U.S. 5,132 7,383 14,371 22,888 Downstream United States 2,812 5,439 8,820 16,942 Non-U.S. 3,334 5,826 11,210 18,563 Chemical United States 1,480 1,489 4,466 5,947 Non-U.S. 895 1,413 2,866 4,543 Corporate and financing 55 60 166 168 |
Geographic Sales And Other Operating Revenue | Geographic Three Months Ended Nine Months Ended Sales and Other Operating Revenue 2020 2019 2020 2019 (millions of dollars) (millions of dollars) United States 15,851 22,711 46,162 67,370 Non-U.S. 29,574 40,711 86,674 125,189 Total 45,425 63,422 132,836 192,559 Significant Non-U.S. revenue sources include: (1) Canada 3,566 4,945 9,537 15,141 United Kingdom 2,827 4,042 8,424 13,244 Singapore 2,400 2,942 6,883 9,197 France 2,273 3,266 6,446 9,597 Italy 2,055 2,691 5,241 7,830 Belgium 1,504 2,598 4,639 9,371 (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) | 9 Months Ended |
Sep. 30, 2020 | |
Allowance for Credit Loss [Abstract] | |
Allowance for Credit Loss | Reserve for Liabilities for Off- Balance 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 — (4) (1) (5) Write-offs charged against the allowance (1) (1) — (2) Other — (10) — (10) Balance at September 30, 2020 85 499 11 595 |
Miscellaneous Financial Infor_2
Miscellaneous Financial Information (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2020 | Sep. 30, 2020 | |
Disclosure Text Block Supplement [Abstract] | ||
Inventory credit, consolidated companies including noncontrolling interests - before tax | $ 153 | |
Inventory credit, ExxonMobil share including equity companies - after tax | $ 113 | |
After-tax impairment charges | $ 884 | |
Goodwill impairment | 562 | |
Other impairment charges | $ 322 |
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 |
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 | |||
Nigeria Production Sharing Contract Litigation [Member] | ||||
Litigation And Other Contingencies [Line Items] | ||||
Percent interest in Erha block PSC | 56.25% | |||
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 | |||
Award collected from Venezuela for Cerro Negro and La Ceiba Projects | $ 260 | |||
Annulled portion of award for Cerro Negro Project | $ 1,400 |
Litigation And Other Continge_4
Litigation And Other Contingencies (Schedule Of Guarantees) (Details) $ in Millions | Sep. 30, 2020USD ($) |
Litigation And Other Contingencies [Line Items] | |
Guarantees | $ 6,584 |
Equity Company Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 1,658 |
Other Third Party Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 4,926 |
Debt Related Guarantees [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 1,088 |
Debt Related Guarantees [Member] | Equity Company Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 968 |
Debt Related Guarantees [Member] | Other Third Party Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 120 |
Other Guarantees [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 5,496 |
Other Guarantees [Member] | Equity Company Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | 690 |
Other Guarantees [Member] | Other Third Party Obligations [Member] | |
Litigation And Other Contingencies [Line Items] | |
Guarantees | $ 4,806 |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 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 | $ 1,469 | $ (1,424) | $ (1,305) | $ (75) |
Adjustment for foreign exchange translation (gain)/loss included in net income | 14 | 0 | 14 | 0 |
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 | (140) | 103 | (189) | 43 |
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 206 | 186 | 613 | 512 |
Other Comprehensive Income Loss Net Of Tax Period Change [Abstract] | ||||
Beginning Balance, Total | (19,493) | |||
Ending Balance, Total | (20,189) | (20,189) | ||
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 | (1,125) | (252) | ||
Adjustment for foreign exchange translation (gain)/loss included in net income | 14 | 0 | ||
Total change in accumulated other comprehensive income, Cumulative Foreign Exchange Translation Adjustment | (1,111) | (252) | ||
Ending Balance, Cumulative Foreign Exchange Translation Adjustment | (13,557) | (14,133) | (13,557) | (14,133) |
Net investment hedge gain/(loss), net of taxes | (159) | |||
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 | (172) | 48 | ||
Amounts reclassified from accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 587 | 491 | ||
Total change in accumulated other comprehensive income, Postretirement Benefits Reserves Adjustment | 415 | 539 | ||
Ending Balance, Postretirement Benefits Reserves Adjustment | (6,632) | (5,144) | (6,632) | (5,144) |
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 | (1,297) | (204) | ||
Amounts reclassified from accumulated other comprehensive income, Total | 601 | 491 | ||
Total change in accumulated other comprehensive income, Total | (696) | 287 | ||
Ending Balance, Total | $ (20,189) | $ (19,277) | $ (20,189) | $ (19,277) |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Other Comprehensive Income Information Before Tax [Abstract] | ||||
Foreign exchange translation gain/(loss) included in net income (Statement of Income line: Other Income) | $ (14) | $ 0 | $ (14) | $ 0 |
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) | $ (268) | $ (236) | $ (790) | $ (664) |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Other Comprehensive Income Information Tax [Abstract] | ||||
Foreign exchange translation adjustment | $ 57 | $ 1 | $ 72 | $ 1 |
Postretirement benefits reserves adjustment (excluding amortization) | 74 | (56) | 64 | (36) |
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs | (62) | (50) | (177) | (152) |
Total | $ 69 | $ (105) | $ (41) | $ (187) |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Earnings per common share | ||||
Net income (loss) attributable to ExxonMobil (millions of dollars) | $ (680) | $ 3,170 | $ (2,370) | $ 8,650 |
Weighted average number of common shares outstanding (millions of shares) | 4,271 | 4,271 | 4,270 | 4,270 |
Earnings (Loss) per common share (dollars) | $ (0.15) | $ 0.75 | $ (0.55) | $ 2.03 |
Dividends paid per common share (dollars) | $ 0.87 | $ 0.87 | $ 2.61 | $ 2.56 |
Pension And Other Postretirem_3
Pension And Other Postretirement Benefits (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Pension Benefits - U.S. | ||||
Service cost | $ 245 | $ 208 | $ 712 | $ 563 |
Interest cost | 177 | 192 | 531 | 574 |
Expected return on plan assets | (178) | (143) | (528) | (427) |
Amortization of actuarial loss/(gain) and prior service cost | 79 | 77 | 237 | 233 |
Net pension enhancement and curtailment/settlement cost | 52 | 54 | 156 | 161 |
Net benefit cost | 375 | 388 | 1,108 | 1,104 |
Pension Benefits - Non-U.S. [Member] | ||||
Service cost | 178 | 136 | 524 | 413 |
Interest cost | 165 | 189 | 488 | 573 |
Expected return on plan assets | (226) | (192) | (664) | (581) |
Amortization of actuarial loss/(gain) and prior service cost | 124 | 102 | 358 | 260 |
Net benefit cost | 241 | 235 | 706 | 665 |
Other Postretirement Benefits [Member] | ||||
Service cost | 45 | 38 | 134 | 104 |
Interest cost | 70 | 79 | 208 | 237 |
Expected return on plan assets | (4) | (4) | (13) | (12) |
Amortization of actuarial loss/(gain) and prior service cost | 13 | 3 | 39 | 10 |
Net benefit cost | $ 124 | $ 116 | $ 368 | $ 339 |
Financial Instruments and Der_3
Financial Instruments and Derivatives (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | |
Financial Instruments And Derivatives [Abstract] | |||
Initial Margin Collateral Receivable | $ 462 | $ 462 | |
Net investment hedge, European business | 5,300 | ||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 10,000 | 10,000 | $ 7,500 |
Terminated short-term committed line of credit | 7,000 | ||
Short Term Financing [Member] | |||
Debt Instrument [Line Items] | |||
Unused credit line | 11,000 | 11,000 | |
Long Term Financing [Member] | |||
Debt Instrument [Line Items] | |||
Unused credit line | $ 200 | $ 200 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Millions | Sep. 30, 2020 | Dec. 31, 2019 |
Total Gross Assets & Liabilities [Domain] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | $ 758 | $ 635 |
Advances to/receivables from equity companies | 9,233 | 8,670 |
Other long-term financial assets | 2,112 | 2,119 |
Derivative liabilities | 908 | 638 |
Long-term debt | 49,306 | 25,789 |
Long-term obligations to equity companies | 3,685 | 4,245 |
Other long-term financial liabilities | 1,073 | 1,042 |
Net Carrying Value [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | 107 | 102 |
Advances to/receivables from equity companies | 9,040 | 8,542 |
Other long-term financial assets | 2,242 | 2,163 |
Derivative liabilities | 78 | 70 |
Long-term debt | 45,275 | 24,672 |
Long-term obligations to equity companies | 3,486 | 3,988 |
Other long-term financial liabilities | 1,084 | 1,058 |
Effect Of Counterparty Netting [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | (571) | (463) |
Derivative liabilities | (571) | (463) |
Effect Of Collateral Netting [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | (80) | (70) |
Derivative liabilities | (259) | (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 | (193) | (128) |
Other long-term financial assets | 130 | 44 |
Long-term debt | (4,031) | (1,117) |
Long-term obligations to equity companies | (199) | (257) |
Other long-term financial liabilities | 11 | 16 |
Level 1 [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | 637 | 533 |
Other long-term financial assets | 1,197 | 1,145 |
Derivative liabilities | 817 | 568 |
Long-term debt | 49,153 | 25,652 |
Level 2 [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Derivative assets | 121 | 102 |
Advances to/receivables from equity companies | 3,152 | 1,941 |
Derivative liabilities | 91 | 70 |
Long-term debt | 149 | 134 |
Level 3 [Member] | ||
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items] | ||
Advances to/receivables from equity companies | 6,081 | 6,729 |
Other long-term financial assets | 915 | 974 |
Long-term debt | 4 | 3 |
Long-term obligations to equity companies | 3,685 | 4,245 |
Other long-term financial liabilities | $ 1,073 | $ 1,042 |
Financial Instruments Long Term
Financial Instruments Long Term Debt (Details) - Exxon Mobil Corporation [Member] $ in Millions | Sep. 30, 2020USD ($) |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 23,421 |
2.992% Notes Due 2025 (Issued March 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 1,500 |
Interest rate | 2.992% |
3.294% Notes Due 2027 (Issued March 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 1,000 |
Interest rate | 3.294% |
3.482% Notes Due 2030 (Issued March 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 2,000 |
Interest rate | 3.482% |
4.227% Notes Due 2040 (Issued March 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 1,250 |
Interest rate | 4.227% |
4.327% Notes Due 2050 (Issued March 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 2,750 |
Interest rate | 4.327% |
1.571% Notes Due 2023 (Issued April 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 2,750 |
Interest rate | 1.571% |
2.992% Notes Due 2025 (Issued April 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 1,310 |
Interest rate | 2.992% |
2.610% Notes Due 2030 (Issued April 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 2,000 |
Interest rate | 2.61% |
4.227% Notes Due 2040 (Issued April 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 842 |
Interest rate | 4.227% |
3.452% Notes Due 2051 (Issued April 2020) [Member] | Other U.S. Dollar Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 2,750 |
Interest rate | 3.452% |
2.992% Notes Due 2025 and 4.227% Notes Due 2040 (Issued April 2020) [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Unamortized Premium | $ 152 |
0.142% Notes Due 2024 (Issued June 2020) [Member] | Other Foreign Currency Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 1,756 |
Interest rate | 0.142% |
0.524% Notes Due 2028 (Issued June 2020) [Member] | Other Foreign Currency Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 1,171 |
Interest rate | 0.524% |
0.835% Notes Due 2032 (Issued June 2020) [Member] | Other Foreign Currency Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 1,171 |
Interest rate | 0.835% |
1.408% Notes Due 2039 (Issued June 2020) [Member] | Other Foreign Currency Obligations [Member] | |
Debt Instrument [Line Items] | |
Long-term debt issued | $ 1,171 |
Interest rate | 1.408% |
Derivative Instrument Balance S
Derivative Instrument Balance Sheet (Details) bbl in Millions, MMBTU in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2020MMBTUbbl | Dec. 31, 2019MMBTUbbl | |
Crude Oil [Member] | Long [Member] | ||
Net notional long / short position of derivative instruments bbl | 50 | 57 |
Products [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments bbl | 50 | 38 |
Natural Gas [Member] | Short [Member] | ||
Net notional long / short position of derivative instruments MMBtus | MMBTU | 438 | 165 |
Derivative Instruments (Details
Derivative Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Realized and Unrealized Before-Tax Gain / (Loss) on Derivative Instruments Recognized in the Consolidated Statement of Income | ||||
Sales and other operating revenue | $ 45,425 | $ 63,422 | $ 132,836 | $ 192,559 |
Crude oil and product purchases | 23,950 | 35,290 | 70,102 | 109,033 |
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 | (297) | 144 | 688 | (98) |
Crude oil and product purchases | 134 | 60 | (396) | 75 |
Total | $ (163) | $ 204 | $ 292 | $ (23) |
Disclosures About Segments An_3
Disclosures About Segments And Related Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | $ (680) | $ 3,170 | $ (2,370) | $ 8,650 |
Sales and other operating revenue | 45,425 | 63,422 | 132,836 | 192,559 |
Upstream United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | (681) | 37 | (2,582) | 468 |
Sales and other operating revenue | 1,422 | 1,941 | 4,280 | 7,228 |
Intersegment Revenue | 2,348 | 2,876 | 5,999 | 7,828 |
Upstream Non-U.S. [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | 298 | 2,131 | 1,084 | 7,837 |
Sales and other operating revenue | 2,015 | 3,069 | 6,604 | 10,582 |
Intersegment Revenue | 5,132 | 7,383 | 14,371 | 22,888 |
Downstream United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | (136) | 673 | (338) | 822 |
Sales and other operating revenue | 12,267 | 18,358 | 35,854 | 52,721 |
Intersegment Revenue | 2,812 | 5,439 | 8,820 | 16,942 |
Downstream Non-U.S. [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | (95) | 557 | 472 | 603 |
Sales and other operating revenue | 23,862 | 33,391 | 69,468 | 100,994 |
Intersegment Revenue | 3,334 | 5,826 | 11,210 | 18,563 |
Chemical United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | 357 | 53 | 816 | 208 |
Sales and other operating revenue | 2,162 | 2,412 | 6,028 | 7,421 |
Intersegment Revenue | 1,480 | 1,489 | 4,466 | 5,947 |
Chemical Non-U.S. [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | 304 | 188 | 456 | 739 |
Sales and other operating revenue | 3,684 | 4,241 | 10,574 | 13,583 |
Intersegment Revenue | 895 | 1,413 | 2,866 | 4,543 |
Corporate And Financing [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings (Loss) after income tax | (727) | (469) | (2,278) | (2,027) |
Sales and other operating revenue | 13 | 10 | 28 | 30 |
Intersegment Revenue | $ 55 | $ 60 | $ 166 | $ 168 |
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, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | $ 45,425 | $ 63,422 | $ 132,836 | $ 192,559 |
U.S. [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 15,851 | 22,711 | 46,162 | 67,370 |
Non-U.S. [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 29,574 | 40,711 | 86,674 | 125,189 |
Canada [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 3,566 | 4,945 | 9,537 | 15,141 |
United Kingdom [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 2,827 | 4,042 | 8,424 | 13,244 |
Singapore [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 2,400 | 2,942 | 6,883 | 9,197 |
France [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 2,273 | 3,266 | 6,446 | 9,597 |
Italy [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | 2,055 | 2,691 | 5,241 | 7,830 |
Belgium [Member] | ||||
Segment Reporting Revenue Reconciling Item [Line Items] | ||||
Sales and other operating revenue | $ 1,504 | $ 2,598 | $ 4,639 | $ 9,371 |
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 | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Cumulative effect of accounting change | $ (94) |
Notes and accounts receivable, net of allowances - Financial Instruments under Topic 326 | 16,450 |
Notes and accounts receivable, allowances - Financial Instruments under Topic 326 | 148 |
Loans and long-term receivables, net of allowances - Financial Instruments under Topic 326 | 9,668 |
Loans and long-term receivables, allowances - Financial Instruments under Topic 326 | 436 |
ExxonMobil Share Of Earnings Reinvested [Member] | |
Cumulative effect of accounting change | $ (93) |
Current Expected Credit Loss (D
Current Expected Credit Loss (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2020USD ($) | |
Liabilities for Off-Balance Sheet Assets [Roll Forward] | |
Balance at December 31, 2019, Off-Balance Sheet Assets | $ 0 |
Cumulative effect of accounting change, Off-Balance Sheet Assets | 12 |
Current period provision, Off-Balance Sheet Assets | (1) |
Other, Off-Balance Sheet Assets | 0 |
Balance at September 30, 2020, Off-Balance Sheet Assets | 11 |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | |
Balance at December 31, 2019, Total | 503 |
Cumulative effect of accounting change, Total | 109 |
Current period provision, Total | (5) |
Write-offs charged against the allowance, Total | (2) |
Other, Total | (10) |
Balance at September 30, 2020, Total | 595 |
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 | 0 |
Write-offs charged against the allowance, Trade and Other | (1) |
Other, Trade and Other | 0 |
Balance at September 30, 2020, Trade and Other | 85 |
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 | (4) |
Write-offs charged against the allowance, Trade and Other | (1) |
Other, Trade and Other | (10) |
Balance at September 30, 2020, Trade and Other | $ 499 |