- Full-year cash flow from operating
activities of $36 billion, highest since 2014
- Tenth discovery offshore Guyana,
increasing Stabroek resource estimate to more than 5 billion
barrels
- Fourth quarter 2018 liquids production
up 4 percent from prior-year quarter driven by Permian growth
Exxon Mobil Corporation (NYSE:XOM):
Third
Fourth Quarter
Quarter
Twelve Months
2018
2017
%
2018
%
2018
2017
%
Earnings Summary (Dollars in millions, except per share
data) Earnings (U.S. GAAP)
6,000 8,380 -28 6,240 -4
20,840 19,710 +6 U.S. Tax Reform
20 5,942 271
291 5,942 Asset Impairments
(429 ) (1,294 )
(18 )
(489 ) (1,521 ) Earnings Excluding U.S. Tax
Reform and Impairments
6,409 3,732 +72 5,987 +7
21,038 15,289 +38 Earnings Per Common Share Assuming
Dilution
1.41 1.97 -28 1.46 -3
4.88 4.63 +5
Capital and Exploration Expenditures
7,843 8,999 -13 6,586
+19
25,923 23,080 +12
Exxon Mobil Corporation today announced estimated 2018 earnings
of $20.8 billion, or $4.88 per share assuming dilution,
compared with $19.7 billion a year earlier. Excluding U.S. tax
reform and asset impairments, earnings were $21 billion, compared
with $15.3 billion in 2017. Cash flow from operations and asset
sales was $40.1 billion, including proceeds associated with
asset sales of $4.1 billion. Capital and exploration
expenditures were $25.9 billion, including incremental spend to
accelerate value capture.
Fourth quarter 2018 earnings were $6 billion, or $1.41 per share
assuming dilution, compared with $8.4 billion in the
prior-year quarter. Earnings excluding U.S. tax reform and
impairments were $6.4 billion, compared with $3.7 billion in the
prior-year quarter.
“Strong results during a period of commodity price volatility
demonstrate ExxonMobil’s ability to deliver superior cash flow in
different market environments,” said Darren W. Woods, chairman and
chief executive officer. “Our continued focus on long-term
fundamentals and portfolio improvements position us well to grow
shareholder value. ExxonMobil’s 2018 results further demonstrate
our advantages in technology, scale and integration, providing a
strong foundation to successfully compete across commodity price
cycles.”
Fourth Quarter 2018 Business Highlights
Upstream • Crude prices weakened in the
fourth quarter, while natural gas prices strengthened with higher
LNG prices and increased seasonal demand.
• Natural
gas volumes were supported by stronger seasonal gas demand in
Europe.
• Permian unconventional production continued
to ramp up in the fourth quarter, with production up more than 90
percent from the same period last year.
Downstream
• Industry fuels margins weakened during the quarter
due to lower seasonal gasoline demand and increased supply.
• The company captured benefits from North American crude
differentials with its integrated logistics and manufacturing
capabilities.
• Overall reliability remained strong
during a quarter with higher levels of scheduled maintenance
activity.
Chemical
• Chemical margins weakened during the quarter with
lengthening supply from recent capacity additions.
•
Sales growth from investments resulted in the highest annual
volumes in over ten years.
• Turnaround activities
were completed at the Singapore chemical plant during the fourth
quarter.
Strengthening the Portfolio •
ExxonMobil made its tenth discovery offshore Guyana and increased
its estimate of the discovered recoverable resource for the
Stabroek Block to more than 5 billion oil-equivalent barrels.
• ExxonMobil subsidiary Esso Italiana completed its
sale of the Augusta refinery, three fuel terminals in Augusta,
Palermo and Naples, and associated pipelines to Sonatrach
Raffineria Italiana S.r.l. ExxonMobil will continue to serve the
Italian market, where it has operated for more than 125 years, with
high-performance products, including Esso fuels and Mobil
lubricants.
• The company generated full-year cash
proceeds from asset sales of $4.1 billion, slightly above the
previous 5-year average of $3.3 billion.
Investing for
Growth • ExxonMobil made a final investment
decision to develop the West Barracouta gas field in Bass Strait to
bring new gas supplies to the Australian domestic market. The
project, located in the VIC/L1 Block offshore Victoria, is part of
the company’s continuing investment in the Gippsland Basin and will
be tied back to the existing Barracouta infrastructure offshore in
Bass Strait.
• Mozambique Area 4 co-venture
participants, including ExxonMobil, secured liquefied natural gas
(LNG) offtake commitments from the partners’ affiliated buyer
entities, a key milestone enabling a rapid move toward a final
investment decision in 2019 on the first phase of the Rovuma LNG
project. Those commitments are subject to the conclusion of
fully-termed agreements and the approval of the government of
Mozambique.
• The company commenced operations of a
new coker unit at its Antwerp refinery in Belgium to convert heavy,
higher-sulfur residual oils into high-value transportation fuels
such as marine gasoil and diesel. The new 50,000 barrel-per-day
unit expands the refinery’s capacity to meet demand for cleaner
transportation fuels throughout northwest Europe. The company’s
investment in the new coker will also help meet anticipated demand
for lower-sulfur fuel oil to comply with new standards to be
implemented by the International Maritime Organization in 2020.
Advancing Innovative Technologies and Products
• ExxonMobil started up its advanced hydrocracker expansion
project at the Rotterdam refinery in the Netherlands. The new unit
uses proprietary catalyst in a unique refining configuration to
upgrade lower-value vacuum gas oil into higher value EHC™ Group II
base stocks and ultra-low sulfur diesel.
• ExxonMobil
has signed a partnership agreement with IBM to advance the
potential use of quantum computing in developing next-generation
energy and manufacturing technologies. As part of the agreement,
ExxonMobil becomes the first energy company to join the IBM Q
Network, a worldwide community of Fortune 500 companies, startups,
academic institutions and national research labs working to advance
quantum computing and explore practical applications for science
and business.
Exxon Mobil Corporation Fourth
Quarter 2018 (millions of dollars)
Third
Fourth Quarter Quarter
Twelve
Months
2018
2017
2018
2018
2017
Earnings (U.S. GAAP) Upstream United States
265 7,061
606
1,739 6,622 Non-U.S.
3,048 1,291 3,623
12,340 6,733 Downstream United States
987 918 961
2,962 1,948 Non-U.S.
1,717 646 681
3,048 3,649
Chemical United States
282 777 404
1,642 2,190
Non-U.S.
455 493 309
1,709 2,328 Corporate and
financing
(754 ) (2,806 ) (344 )
(2,600
) (3,760 ) Net income attributable to ExxonMobil
6,000 8,380 6,240
20,840 19,710
U.S. Tax
Reform Upstream United States
- 7,602 -
- 7,602
Non-U.S.
- (480 ) 271
271 (480 ) Downstream United
States
- 618 -
- 618 Chemical United States
-
335 -
- 335 Corporate and financing
20 (2,133 ) -
20 (2,133 ) Total U.S. Tax Reform
20 5,942 271
291 5,942
Asset Impairments Upstream United
States
(284 ) (481 ) -
(297 ) (521 )
Non-U.S.
(113 ) (807 ) -
(142 ) (983 )
Downstream United States
(12 ) (6 ) -
(12
) (6 ) Non-U.S.
(13 ) - (18 )
(31
) (11 ) Chemical Non-U.S.
(7 ) - -
(7
) - Total Asset Impairments
(429 ) (1,294 )
(18 )
(489 ) (1,521 )
Earnings Excluding
U.S. Tax Reform and Impairments Upstream United States
549 (60 ) 606
2,036 (459 ) Non-U.S.
3,161
2,578 3,352
12,211 8,196 Downstream United States
999
306 961
2,974 1,336 Non-U.S.
1,730 646 699
3,079 3,660 Chemical United States
282 442 404
1,642 1,855 Non-U.S.
462 493 309
1,716 2,328
Corporate and financing
(774 ) (673 ) (344 )
(2,620 ) (1,627 ) Earnings excluding U.S. Tax Reform
and Impairments
6,409 3,732 5,987
21,038 15,289
Earnings and
Volume Summary
Millions of Dollars 4Q 2018 4Q
2017 (unless noted)
Adjusted1
Adjusted1 Change Comments
Upstream U.S. 549 (60) +609 Higher natural gas prices and
liquids volume growth Non-U.S. 3,161 2,578 +583 Higher natural gas
prices, favorable tax and foreign exchange impacts, partly offset
by lower liquids prices
Total 3,710 2,518
+1,192 Prices +660, volumes +180, foreign exchange +80,
other +270 Production (koebd) 4,010 3,991 +19 Liquids +97 kbd:
growth, partly offset by decline, lower entitlements and
divestments
Gas -467 mcfd: decline largely in U.S.
aligned with value focus, lower demand, lower entitlements and
divestments, partly offset by unconventional growth
Downstream U.S. 999 306 +693 Lower
downtime/maintenance, higher margins capturing crude differentials,
improved yield/sales mix and favorable tax impacts Non-U.S. 1,730
646 +1,084 Higher divestment gains including sale of Augusta
refinery / Germany Retail conversion to branded wholesaler (+888),
higher margins and improved yield/sales mix, partly offset by
higher downtime/maintenance
Total 2,729 952
+1,777 Divestment gains +680, margins +550, yield/sales
mix +200, downtime/maintenance +130, other +220 Petroleum
Product Sales (kbd) 5,495 5,624 -129
Chemical U.S.
282 442 -160 Weaker margins Non-U.S. 462 493 -31 Weaker margins,
higher growth-related expenses and higher downtime/maintenance,
partly offset by favorable tax item (+212) and higher sales volumes
Total 744 935 -191 Margins -350,
downtime/maintenance -90, tax item +210, sales +100, other -60
Prime Product Sales (kt) 6,672 6,782 -110 Downtime/maintenance,
partly offset by growth-related volumes
Corporate and financing
(774) (673) -101
Lower U.S. tax rate 1Earnings excluding U.S. Tax
Reform and Impairments
Earnings and
Volume Summary
Millions of Dollars 4Q 2018 3Q
2018 (unless noted)
Adjusted1
Adjusted1 Change Comments
Upstream U.S. 549 606 -57 Lower liquids prices and higher
expenses, partly offset by higher liquids volumes and stronger
natural gas prices Non-U.S. 3,161 3,352 -191 Lower liquids prices,
partly offset by higher volumes, stronger natural gas prices and
favorable foreign exchange impacts
Total 3,710
3,958 -248 Prices -1,110, volumes +660, foreign
exchange +100, other +100 Production (koebd) 4,010 3,786 +224
Liquids +62 kbd: growth and lower unscheduled downtime
Gas +973 mcfd: higher seasonal demand and
entitlements
Downstream U.S. 999 961 +38 Higher margins capturing
crude differentials and improved yield/sales mix, partly offset by
higher downtime/maintenance Non-U.S. 1,730 699 +1,031 Higher
divestment gains including sale of Augusta refinery / Germany
Retail conversion to branded wholesaler (+888) and higher margins,
partly offset by higher downtime/maintenance
Total
2,729 1,660 +1,069 Divestment gains +870,
margins +500, yield/sales mix +70, downtime/maintenance -460, other
+90 Petroleum Product Sales (kbd) 5,495 5,616 -121
Chemical U.S. 282 404 -122 Weaker margins Non-U.S. 462 309
+153 Favorable tax item (+212), partly offset by growth-related
expenses
Total 744 713 +31 Tax item
+210, margins -110, other -70 Prime Product Sales (kt) 6,672
6,677 -5
Corporate and financing (774)
(344) -430 Mainly absence of
favorable one-time tax item 1Earnings excluding U.S. Tax
Reform and Impairments
Earnings and
Volume Summary
Millions of Dollars FY 2018 FY
2017 (unless noted)
Adjusted1
Adjusted1 Change Comments
Upstream U.S. 2,036 (459) +2,495 Higher liquids prices and
liquids volume growth and favorable mix, partly offset by higher
growth-related expenses Non-U.S. 12,211 8,196 +4,015 Higher prices
and divestment gains / one-time items, partly offset by lower
volumes and higher expenses largely from increased maintenance
Total 14,247 7,737 +6,510 Prices
+7,040, divestment gains / one-time items +780, maintenance /
growth-related expenses -970, volumes -240, other -100
Production (koebd) 3,833 3,985 -152 Liquids -17 kbd: growth in
North America, more than offset by decline, lower entitlements and
divestments
Gas -806 mcfd: decline largely in U.S.
aligned with value focus, lower entitlements, divestments, and
higher downtime
Downstream U.S. 2,974 1,336 +1,638 Higher margins capturing
crude differentials, favorable tax impacts, lower
downtime/maintenance and favorable yield/sales mix Non-U.S. 3,079
3,660 -581 Higher downtime/maintenance, lower margins and
unfavorable foreign exchange impacts, partly offset by higher
divestment gains and favorable yield/sales mix
Total
6,053 4,996 +1,057 Margins +660, divestment
gains +490, yield/sales mix +260, downtime/maintenance -530,
foreign exchange -290, other +470 Petroleum Product Sales (kbd)
5,512 5,530 -18
Chemical U.S. 1,642 1,855 -213 Volume
growth, more than offset by higher growth-related expenses and
weaker margins Non-U.S. 1,716 2,328 -612 Weaker margins, higher
growth-related expenses and higher downtime/maintenance, partly
offset by volume growth, favorable tax item (+212) and favorable
foreign exchange impacts
Total 3,358 4,183
-825 Margins -910, downtime/maintenance -150, sales +320,
tax item +210, foreign exchange +140, other -440 Prime Product
Sales (kt) 26,869 25,420 +1,449 Growth from new assets and stronger
demand
Corporate and financing (2,620)
(1,627) -993 Higher pension and
financing related costs, lower U.S. tax rate, and lower net
favorable tax items 1Earnings excluding U.S. Tax Reform
and Impairments
Cash Flow from
Operations and Asset Sales
Millions of
Dollars 4Q 2018 Comments Net
income including noncontrolling interests 6,206 Including $206
million for noncontrolling interests Depreciation 5,028 Changes in
working capital (1,331 ) Mainly inventory build and timing of tax
payments Other (1,296 ) Including adjustment for gains on asset
sales
Cash Flow from Operating Activities
(U.S. GAAP)
8,607 Asset sales 884 Including Augusta
Cash Flow from Operations and Asset
Sales
9,491
Millions of Dollars FY
2018 Comments Net income including noncontrolling
interests 21,421 Including $581 million for noncontrolling
interests Depreciation 18,745 Changes in working capital (1,356 )
Inventory build, partly offset by favorable payables Other (2,796 )
Including adjustment for gains on asset sales
Cash Flow from Operating Activities
(U.S. GAAP)
36,014 Asset sales 4,123 Including Germany Retail,
Augusta, Scarborough
Cash Flow from Operations and Asset
Sales
40,137
Twelve Months 2018 Financial Updates
During 2018, Exxon Mobil Corporation purchased 5 million
shares of its common stock for the treasury at a gross cost of
$425 million. These shares were acquired to offset dilution in
conjunction with the company’s benefit plans and programs. The
corporation will continue to acquire shares to offset dilution in
conjunction with its benefit plans and programs, but does not
currently plan on making purchases to reduce shares
outstanding.
ExxonMobil will discuss financial and operating results and
other matters during a webcast at 8:30 a.m. Central Time on
February 1, 2019. To listen to the event or access an archived
replay, please visit www.exxonmobil.com.
Cautionary Statement
Outlooks, projections, goals, targets, descriptions of business
plans and objectives, and other statements of future events or
conditions in this release are forward-looking statements. Actual
future results, including project plans, capacities, and timing;
resource recoveries; earnings, margins and volume growth and mix;
and maintenance activities could differ materially due to a number
of factors. These include global or regional changes in supply and
demand for oil, gas, and petrochemicals and other market conditions
that impact prices and differentials; reservoir performance; timely
completion of new projects; the impact of fiscal and commercial
terms and the outcome of commercial negotiations; changes in law,
taxes, or government operations or regulation and timely granting
of governmental permits; war and other political or security
disturbances; the actions of competitors; the capture of
efficiencies between business lines; unforeseen technical or
operating difficulties; unexpected technological developments;
general economic conditions including the occurrence and duration
of economic recessions; the results of research programs; and other
factors discussed under the heading Factors Affecting Future
Results on the Investors page of our website at www.exxonmobil.com
and in Item 1A of ExxonMobil’s 2017 Form 10-K. We assume no duty to
update these statements as of any future date.
Forward-looking statements in this release regarding future
earnings refer to plans outlined at ExxonMobil’s Analysts’ Meeting
held on March 7, 2018. The growth figures presented at that meeting
are not forecasts of actual future results but were intended to
help quantify future potential and goals of management plans and
initiatives. See the complete March 7, 2018 presentation available
in archive form (including the Cautionary Statement and
Supplemental Information included with that presentation) on the
Investors page of our website at www.exxonmobil.com for more
detailed information. That material includes a description of the
assumptions underlying these potential growth estimates including a
flat real oil price of $60 per barrel, downstream and chemical
margins consistent with 2017 levels, and future gas prices
consistent with our internal company plans, as well as a
reconciliation of adjusted 2017 earnings used as a baseline.
Frequently Used Terms and Non-GAAP
Measures
This press release includes cash flow from operations and asset
sales. Because of the regular nature of our asset management and
divestment program, we believe it is useful for investors to
consider proceeds associated with the sales of subsidiaries,
property, plant and equipment, and sales and returns of investments
together with cash provided by operating activities when evaluating
cash available for investment in the business and financing
activities. A reconciliation to net cash provided by operating
activities is shown for 2018 period on page 8 and for 2018 and 2017
periods in Attachment IV.
This press release also includes total taxes including
sales-based taxes. This is a broader indicator of the total
tax burden on the corporation’s products and earnings, including
certain sales and value-added taxes imposed on and concurrent with
revenue-producing transactions with customers and collected on
behalf of governmental authorities (“sales-based taxes”). It
combines “Income taxes” and “Total other taxes and duties” with
sales-based taxes, which are reported net in the income
statement. We believe it is useful for the corporation and its
investors to understand the total tax burden imposed on the
corporation’s products and earnings. A reconciliation to total
taxes is shown as part of the Estimated Key Financial and Operating
Data in Attachment I.
This press release also includes earnings excluding impacts from
U.S. tax reform enactment and asset impairments. We believe these
figures are useful for investors to consider in comparing the
performance of our underlying business across periods when one, or
both, periods have been impacted by the U.S. tax reform or an asset
impairment charge. A reconciliation of earnings excluding these
items to U.S. GAAP earnings is shown on page 4.
U.S. Tax Reform
Following the December 22, 2017, enactment of the U.S. Tax Cuts
and Jobs Act, in accordance with Accounting Standard Codification
Topic 740 (Income Taxes) and following the guidance outlined in the
SEC Staff Accounting Bulletin No. 118, the corporation included a
$5,942 million credit in its 2017 results, representing a
reasonable estimate of the income tax effects of the changes in tax
law and tax rate. The corporation’s results for 2018 include a $291
million tax credit, mainly in the Non-U.S. Upstream, reflecting an
updated estimate of the impact of U.S. tax reform including
clarifications provided in proposed transition tax regulations
issued by the U.S. Treasury in 2018. The corporation has completed
its accounting for the enactment-date income tax effects of the
U.S. Tax Cuts and Jobs Act in accordance with Accounting Standard
Codification Topic 740 (Income Taxes).
Asset Impairments
In 2018, the corporation assessed the carrying values of certain
assets, largely located in North America and with limited
development potential. This review resulted in an after-tax
impairment charge of $429 million in the fourth quarter. In
2017, the corporation ceased development planning activities for
certain non-producing assets outside the U.S. and recognized
impairments for certain U.S. asset groups which resulted in a
fourth quarter 2017 after-tax charge of $1,294 million.
References to the resource base and other quantities of oil,
natural gas or condensate may include amounts that are not yet
classified as “proved reserves” under SEC definitions, but which we
believe will likely be moved into the “proved reserves” category
and produced in the future. The term “project” as used in this
release can refer to a variety of different activities and does not
necessarily have the same meaning as in any government payment
transparency reports. Further information on ExxonMobil’s
frequently used financial and operating measures and other terms
including “Cash flow from operations and asset sales”, and “Total
taxes including sales-based taxes” is contained under the heading
“Frequently Used Terms” available through the “Investors” section
of our website at exxonmobil.com.
Reference to Earnings
References to corporate earnings mean net income attributable to
ExxonMobil (U.S. GAAP) from the consolidated income statement.
Unless otherwise indicated, references to earnings, Upstream,
Downstream, Chemical and Corporate and financing segment earnings,
and earnings per share are ExxonMobil’s share after excluding
amounts attributable to noncontrolling interests.
EHC is a registered trademark of Exxon Mobil Corporation.
Exxon Mobil Corporation has numerous affiliates, many with names
that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For
convenience and simplicity, those terms and terms such as
corporation, company, our, we, and its are sometimes used as
abbreviated references to specific affiliates or affiliate groups.
Similarly, ExxonMobil has business relationships with thousands of
customers, suppliers, governments, and others. For convenience and
simplicity, words such as venture, joint venture, partnership,
co-venturer, and partner are used to indicate business and other
relationships involving common activities and interests, and those
words may not indicate precise legal relationships.
Estimated Key
Financial and Operating Data Attachment I
Exxon Mobil Corporation Fourth Quarter 2018 (millions
of dollars, unless noted) Third
Fourth Quarter Quarter
Twelve Months
2018
2017
2018
2018
2017
Earnings / Earnings Per Share Total revenues and other
income
71,895 66,515 76,605
290,212 244,363 Total
costs and other deductions
63,774 63,498 67,525
259,259 225,689 Income before income taxes
8,121
3,017 9,080
30,953 18,674 Income taxes
1,915 (5,392 )
2,634
9,532 (1,174 ) Net income including noncontrolling
interests
6,206 8,409 6,446
21,421 19,848 Net income
attributable to noncontrolling interests
206 29 206
581 138 Net income attributable to ExxonMobil (U.S. GAAP)
6,000 8,380 6,240
20,840 19,710 Earnings per
common share (dollars)
1.41 1.97 1.46
4.88 4.63
Earnings per common share - assuming dilution (dollars)
1.41 1.97 1.46
4.88 4.63 Exploration expenses,
including dry holes
555 703 292
1,466 1,790
Other Financial Data Dividends on common stock Total
3,502 3,289 3,503
13,798 13,001 Per common share
(dollars)
0.82 0.77 0.82
3.23 3.06 Millions of
common shares outstanding At period end
4,237 4,239 Average
- assuming dilution
4,270 4,270 4,271
4,270 4,256
ExxonMobil share of equity at period end
191,794
187,688 ExxonMobil share of capital employed at period end
232,280 232,467 Income taxes
1,915 (5,392 )
2,634
9,532 (1,174 ) Total other taxes and duties
8,473 8,583 8,939
35,230 32,459 Total taxes
10,388 3,191 11,573
44,762 31,285 Sales-based taxes
5,444 5,245 5,518
21,750 19,725 Total taxes including
sales-based taxes
15,832 8,436 17,091
66,512 51,010
ExxonMobil share of income taxes of equity
companies
992 500 755
3,142 2,228
Attachment II Exxon
Mobil Corporation Fourth Quarter 2018 Third
Fourth Quarter Quarter
Twelve Months
2018
2017
2018
2018
2017
Net production of crude oil, natural gas
liquids, bitumen and synthetic oil, thousand barrels per day
(kbd)
United States
583 525 555
551 514 Canada / Other
Americas
474 426 454
438 412 Europe
122 155
127
132 182 Africa
376 403 387
387 423 Asia
745 690 706
711 698 Australia / Oceania
48 52
57
47 54 Worldwide
2,348 2,251 2,286
2,266
2,283
Natural gas production available for sale,
million cubic feet per day (mcfd)
United States
2,581 2,753 2,549
2,574 2,936 Canada /
Other Americas
247 240 224
227 218 Europe
1,943 2,266 1,004
1,653 1,948 Africa
16 6 16
13 5 Asia
3,804 3,855 3,685
3,613 3,794
Australia / Oceania
1,383 1,321 1,523
1,325 1,310
Worldwide
9,974 10,441 9,001
9,405 10,211
Oil-equivalent production (koebd)1
4,010 3,991 3,786
3,833 3,985 1 Gas converted to oil-equivalent at 6
million cubic feet = 1 thousand barrels.
Attachment III Exxon
Mobil Corporation Fourth Quarter 2018 Third
Fourth Quarter Quarter
Twelve Months
2018
2017
2018
2018
2017
Refinery throughput (kbd) United States
1,661 1,379 1,644
1,588 1,508 Canada
408 391 388
392 383 Europe
1,366 1,509 1,446
1,422 1,510 Asia Pacific
670
728 720
706 690 Other
193 200 194
164 200
Worldwide
4,298 4,207 4,392
4,272 4,291
Petroleum product sales (kbd) United States
2,230 2,209
2,267
2,210 2,190 Canada
516 501 527
510 499
Europe
1,474 1,589 1,582
1,556 1,597 Asia Pacific
825 819 824
815 757 Other
450 506 416
421 487 Worldwide
5,495 5,624 5,616
5,512
5,530 Gasolines, naphthas
2,183 2,353 2,255
2,217 2,262 Heating oils, kerosene, diesel
1,915
1,878 1,837
1,840 1,850 Aviation fuels
376 393 430
402 382 Heavy fuels
387 370 411
395 371
Specialty products
634 630 683
658 665 Worldwide
5,495 5,624 5,616
5,512 5,530
Chemical prime product sales, thousand
metric tons (kt)
United States
2,577 2,399 2,445
9,824 9,307 Non-U.S.
4,095 4,383 4,232
17,045 16,113 Worldwide
6,672 6,782 6,677
26,869 25,420
Attachment IV Exxon
Mobil Corporation Fourth Quarter 2018 (millions of
dollars) Third
Fourth Quarter Quarter
Twelve Months
2018
2017
2018
2018
2017
Capital and Exploration Expenditures Upstream United States
2,630 1,158 2,040
7,670 3,716 Non-U.S.
3,620
6,457 3,290
12,524 12,979 Total
6,250 7,615 5,330
20,194 16,695 Downstream United States
325 264 297
1,186 823 Non-U.S.
541 518 422
2,243 1,701
Total
866 782 719
3,429 2,524 Chemical United States
579 389 411
1,747 1,583 Non-U.S.
132 167 115
488 2,188 Total
711 556 526
2,235 3,771
Other
16 46 11
65 90 Worldwide
7,843
8,999 6,586
25,923 23,080
Cash flow from
operations and asset sales
Net cash provided by operating activities
(U.S. GAAP)
8,607 7,411 11,108
36,014 30,066 Proceeds associated
with asset sales
884 1,408 1,491
4,123 3,103 Cash
flow from operations and asset sales
9,491 8,819 12,599
40,137 33,169
Attachment V Exxon Mobil Corporation
Earnings
$
Millions
$ Per Common
Share1
2014
First Quarter 9,100 2.10 Second Quarter 8,780 2.05 Third Quarter
8,070 1.89 Fourth Quarter 6,570 1.56 Year 32,520 7.60
2015
First Quarter 4,940 1.17 Second Quarter 4,190 1.00 Third Quarter
4,240 1.01 Fourth Quarter 2,780 0.67 Year 16,150 3.85
2016
First Quarter 1,810 0.43 Second Quarter 1,700 0.41 Third Quarter
2,650 0.63 Fourth Quarter 1,680 0.41 Year 7,840 1.88
2017
First Quarter 4,010 0.95 Second Quarter 3,350 0.78 Third Quarter
3,970 0.93 Fourth Quarter 8,380 1.97 Year 19,710 4.63
2018
First Quarter 4,650 1.09 Second Quarter 3,950 0.92 Third Quarter
6,240 1.46 Fourth Quarter 6,000 1.41 Year 20,840 4.88 1
Computed using the average number of shares outstanding during each
period.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190201005222/en/
ExxonMobilMedia Relations, 972-940-6007
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