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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Exxon Mobil Corp | NYSE:XOM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-3.29 | -2.71% | 118.04 | 119.10 | 116.22 | 118.66 | 27,258,338 | 00:52:18 |
Exxon Mobil Corporation (NYSE:XOM):
First
Second Quarter
Quarter
First Half
2020
2019
2020
2020
2019
Results Summary
(Dollars in millions, except per share data)
Earnings/(Loss) (U.S. GAAP)
(1,080
)
3,130
(610
)
(1,690
)
5,480
Earnings/(Loss) Per Common Share
Assuming Dilution
(0.26
)
0.73
(0.14
)
(0.40
)
1.28
Identified Items Per Common Share
Assuming Dilution
0.44
0.12
(0.67
)
(0.23
)
0.12
Earnings/(Loss) Excluding Identified Items
Per Common Share Assuming Dilution
(0.70
)
0.61
0.53
(0.17
)
1.16
Capital and Exploration Expenditures
5,327
8,079
7,143
12,470
14,969
Exxon Mobil Corporation today announced an estimated second quarter 2020 loss of $1.1 billion, or $0.26 per share assuming dilution. Results included a positive noncash inventory valuation adjustment from rising commodity prices of $1.9 billion, or $0.44 per share assuming dilution. Capital and exploration expenditures were $5.3 billion, nearly $2 billion lower than first quarter reflecting previously announced spend reductions.
Oil-equivalent production was 3.6 million barrels per day, down 7 percent from the second quarter of 2019, including a 3 percent decrease in liquids and a 12 percent decrease in natural gas, mainly reflecting the impacts of COVID-19 on global demand including economic and government mandated curtailments.
“The global pandemic and oversupply conditions significantly impacted our second quarter financial results with lower prices, margins, and sales volumes. We responded decisively by reducing near-term spending and continuing work to improve efficiency by leveraging recent reorganizations,” said Darren W. Woods, chairman and chief executive officer. “The progress we’ve made to date gives us confidence that we will meet or exceed our cost-reduction targets for 2020 and provides a strong foundation for further efficiencies.”
“We have increased debt to a level we feel is appropriate to provide liquidity, given market uncertainties. Based on current projections, we do not plan to take on any additional debt.”
The company has identified significant potential for additional reductions and is undertaking a comprehensive evaluation across the businesses on a country-by-country basis. Additional details will be provided when plans are finalized.
During the quarter, ExxonMobil continued to support COVID-19 response efforts by increasing production of isopropyl alcohol used in sanitizers and specialized polypropylene used in medical masks and gowns. In April, the company reconfigured manufacturing operations in Baton Rouge, Louisiana, to produce and bottle medical-grade hand sanitizer for donation to frontline workers across the U.S. and to the U.S. Air Force. In addition, ExxonMobil donated equipment and contributed to relief efforts around the world, as outlined on the company’s website.
Second Quarter 2020 Business Highlights
Upstream
Downstream
Chemical
Strengthening the Portfolio
Disciplined Investing and Expense Management
Advancing Innovative Technologies and Products
Results and Volume Summary
Millions of Dollars
2Q
2Q
(unless noted)
2020
2019
Change
Comments
Upstream
U.S.
(1,197
)
335
-1,532
Lower prices
Non-U.S.
(454
)
2,926
-3,380
Lower prices and volumes partly offset by reduced expenses; unfavorable identified items (noncash inventory valuation +168, prior quarter tax item -487)
Total
(1,651
)
3,261
-4,912
Prices -4,520, volume -370, expenses +370, other -120, identified items -270
Production (koebd)
3,638
3,909
-271
Liquids -83 kbd: growth (+80 kbd), higher entitlements, and lower downtime/maintenance, more than offset by lower demand including economic curtailments, government mandates, and divestments
Gas -1,130 mcfd: growth (+105 mcfd), more than offset by divestments, lower demand including economic curtailments, and reduced entitlements
Downstream
U.S.
(101
)
310
-411
Lower industry refining margins and reduced market demand, partly offset by lower expenses and improved manufacturing on lower scheduled maintenance; favorable identified item (noncash inventory valuation +404)
Non-U.S.
1,077
141
+936
Lower industry refining margins and reduced market demand more than offset by lower expenses, improved manufacturing, favorable foreign exchange, and favorable identified items (+1,199, mainly noncash inventory valuation)
Total
976
451
+525
Margins -1,680, market demand -380, expenses +340, manufacturing +500, forex +80, other +70, identified items +1,600
Petroleum Product Sales (kbd)
4,437
5,408
-971
Chemical
U.S.
171
(6
)
+177
Higher margins and lower expenses partly offset by lower volumes on weaker demand
Non-U.S.
296
194
+102
Lower expenses partly offset by lower volumes on weaker demand; favorable identified item (+142, noncash inventory valuation)
Total
467
188
+279
Margins +140, expenses +240, volumes -180, other -30, identified items +110
Prime Product Sales (kt)
5,945
6,699
-754
Corporate and financing
(872
)
(770
)
-102
Higher financing costs partly offset by lower corporate expenses
Results and Volume Summary
Millions of Dollars
2Q
1Q
(unless noted)
2020
2020
Change
Comments
Upstream
U.S.
(1,197
)
(704
)
-493
Lower prices; favorable identified items (prior quarter impairment +315, noncash inventory valuation +90)
Non-U.S.
(454
)
1,240
-1,694
Lower prices and volumes, and unfavorable foreign exchange effects, partly offset by reduced expenses; favorable identified items (noncash inventory valuation +386, prior quarter impairment +41)
Total
(1,651
)
536
-2,187
Prices -2,760, volume -250, expenses +350, forex -220, other -140, identified items +830
Production (koebd)
3,638
4,046
-408
Liquids -174 kbd: higher entitlements and lower downtime/maintenance, more than offset by lower demand including economic curtailments and government mandates
Gas -1,406 mcfd: lower seasonal demand, higher downtime/maintenance, and lower entitlements
Downstream
U.S.
(101
)
(101
)
-
Lower margins on weaker industry refining margins and unfavorable mark-to-market derivatives, and reduced market demand, offset by lower expenses, improved manufacturing on lower downtime, and favorable identified items (noncash inventory valuation +815)
Non-U.S.
1,077
(510
)
+1,587
Lower margins on unfavorable mark-to-market derivatives and weaker industry refining margins, and lower market demand, more than offset by lower expenses, favorable foreign exchange, and favorable identified items (noncash inventory valuation +2,386, prior quarter impairment +335)
Total
976
(611
)
+1,587
Margins -2,340, market demand -240, expenses +220, forex +110, manufacturing +190, other +120, identified items +3,530
Petroleum Product Sales (kbd)
4,437
5,287
-850
Chemical
U.S.
171
288
-117
Lower margins and volumes on weaker demand partly offset by reduced expenses; favorable identified items (+61, mainly prior quarter impairment)
Non-U.S.
296
(144
)
+440
Higher margins partly offset by lower volumes on weaker demand; favorable identified items (+376, mainly noncash inventory valuation)
Total
467
144
+323
Expenses +110, volumes -170, other -50, identified items +430
Prime Product Sales (kt)
5,945
6,237
-292
Corporate and financing
(872
)
(679
)
-193
Mainly higher financing costs
Results and Volume Summary
Millions of Dollars
YTD
YTD
(unless noted)
2020
2019
Change
Comments
Upstream
U.S.
(1,901
)
431
-2,332
Lower prices; unfavorable identified item (impairment -315)
Non-U.S.
786
5,706
-4,920
Lower prices and volumes, partly offset by favorable foreign exchange effects and reduced expenses; unfavorable identified items (noncash inventory valuation -50, impairment -41, prior year tax item -487)
Total
(1,115
)
6,137
-7,252
Prices -6,400, volume -280, expenses +140, forex +210, other -30, identified items -890
Production (koebd)
3,842
3,945
-103
Liquids +35 kbd: growth (+122 kbd), lower downtime/maintenance, and higher entitlements, partly offset by lower demand including economic curtailments, divestments, and government mandates
Gas -827 mcfd: growth (+201 mcfd), more than offset by divestments and lower demand including economic curtailments
Downstream
U.S.
(202
)
149
-351
Lower margins on weaker industry refining margins, and lower market demand, partly offset by improved manufacturing on lower scheduled maintenance, and lower expenses
Non-U.S.
567
46
+521
Higher margins, with favorable mark-to-market derivatives partly offset by weaker industry refining margins, improved manufacturing, and lower expenses, partly offset by reduced market demand; unfavorable identified items (-332, mainly impairment)
Total
365
195
+170
Margins -360, market demand -420, manufacturing +960, expenses +250, other +80, identified items -340
Petroleum Product Sales (kbd)
4,862
5,412
-550
Chemical
U.S.
459
155
+304
Higher margins and lower expenses partly offset by lower volumes on weaker demand; unfavorable identified items (-119, mainly impairment)
Non-U.S.
152
551
-399
Lower margins and volumes on weaker demand partly offset by lower expenses; unfavorable identified items (-90, mainly noncash inventory valuation)
Total
611
706
-95
Margins +180, expenses +190, volumes -280, other +20, identified items -210
Prime Product Sales (kt)
12,182
13,471
-1,289
Corporate and financing
(1,551
)
(1,558
)
+7
Lower corporate costs offset by higher financing costs
Cash Flow from Operations and Asset Sales excluding Working Capital
Millions of Dollars
2Q
2020
Comments
Net income (loss) including noncontrolling interests
(1,169
)
Including ($89) million noncontrolling interests
Depreciation
4,916
Noncash inventory adjustment
(2,069
)
Including ($147) million noncontrolling interests
Changes in operational working capital
(1,460
)
Mainly seasonal reduction in payables and inventory build
Other
(218
)
Cash Flow from Operating
-
Activities (U.S. GAAP)
Asset sales
43
Cash Flow from Operations
43
and Asset Sales
Changes in operational working capital
1,460
Cash Flow from Operations
1,503
and Asset Sales excluding Working Capital
Millions of Dollars
YTD
2020
Comments
Net income (loss) including noncontrolling interests
(1,939
)
Including ($249) million noncontrolling interests
Depreciation
10,735
Including impairment impacts
Noncash inventory adjustment
176
Including $2 million noncontrolling interests
Changes in operational working capital
(2,402
)
Mainly lower payables and inventory build
Other
(296
)
Cash Flow from Operating
6,274
Activities (U.S. GAAP)
Asset sales
129
Cash Flow from Operations
6,403
and Asset Sales
Changes in operational working capital
2,402
Cash Flow from Operations
8,805
and Asset Sales excluding Working Capital
First Half 2020 Financial Updates
During the first six months of 2020, Exxon Mobil Corporation purchased 6 million shares of its common stock for the treasury at a gross cost of $305 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.
ExxonMobil will discuss financial and operating results and other matters during a webcast at 8:30 a.m. Central Time on July 31, 2020. To listen to the event or access an archived replay, please visit www.exxonmobil.com.
Cautionary Statement
Outlooks, projections, goals, targets, descriptions of strategic plans and objectives, and other statements of future events or conditions in this release are forward-looking statements. Actual future results, including financial and operating performance; the impact of the COVID-19 pandemic on results; planned capital and cash operating expense reductions and ability to meet announced reduction objectives; total capital expenditures and mix; cash flow, dividend and shareholder returns; business and project plans, timing, costs and capacities; resource recoveries and production rates; accounting and financial reporting effects resulting from market developments and ExxonMobil’s responsive actions; and the impact of new technologies, including to increase capital efficiency and production and to reduce greenhouse gas emissions and intensity, could differ materially due to a number of factors. These include global or regional changes in the supply and demand for oil, natural gas, petrochemicals, and feedstocks and other market conditions that impact prices and differentials; the outcome of government policies and actions, including actions taken to address COVID-19 and to maintain the functioning of national and global economies and markets; the impact of company actions to protect the health and safety of employees, vendors, customers, and communities; actions of competitors and commercial counterparties; the ability to access short- and long-term debt markets on a timely and affordable basis; the severity, length and ultimate impact of COVID-19 on people and economies; reservoir performance; the outcome of exploration projects and timely completion of development and construction projects; changes in law, taxes, or regulation including environmental regulations, and timely granting of governmental permits; war, trade agreements and patterns, shipping blockades or harassment, and other political or security disturbances; opportunities for and regulatory approval of potential investments or divestments; the actions of competitors; the capture of efficiencies within and between business lines and the ability to maintain near-term cost reductions as ongoing efficiencies while maintaining future competitive positioning; unforeseen technical or operating difficulties; the development and competitiveness of alternative energy and emission reduction technologies; the results of research programs; the ability to bring new technologies to commercial scale on a cost-competitive basis, including emission reduction technologies and large-scale hydraulic fracturing projects; general economic conditions including the occurrence and duration of economic recessions; 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 2019 Form 10-K. We assume no duty to update these statements as of any future date.
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 for 2020 periods is shown on page 7 and for 2020 and 2019 periods in Attachment V.
This press release also includes cash flow from operations and asset sales excluding working capital. We believe it is useful for investors to consider these numbers in comparing the underlying performance of our business across periods when there are significant period-to-period differences in the amount of changes in working capital. A reconciliation to net cash provided by operating activities for 2020 periods is shown on page 7 and for 2020 and 2019 periods in Attachment V.
This press release also includes earnings/(loss) excluding identified items, which are earnings/(loss) excluding individually significant non-operational events with an absolute corporate total earnings impact of at least $250 million in a given quarter. The earnings/(loss) impact of an identified item for an individual segment may be less than $250 million when the item impacts several segments. We believe it is useful for investors to consider these figures in comparing the underlying performance of our business across periods when one, or both, periods include identified items. A reconciliation to earnings is shown for 2020 and 2019 periods in Attachments II-a and II-b. Corresponding per share amounts are shown on page 1 and in attachment II-a, including a reconciliation to earnings/(loss) per common share – assuming dilution (U.S. GAAP).
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.
References to the resource base and other quantities of oil, natural gas or condensate may include estimated amounts that are not yet classified as “proved reserves” under SEC definitions, but which are expected to be ultimately recoverable. 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 www.exxonmobil.com.
LIFO Inventory
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 first quarter of 2020 included an after-tax earnings charge of $2,096 million from writing down the book value of inventories to their market value at the end of the period. The corporation’s results for the second quarter of 2020 include an after-tax earnings benefit of $1,922 million, mainly reflecting the partial reversal of the first quarter charge due to rising commodity prices. The earnings impact may be adjusted further in future quarters based on prevailing market prices at the time of future evaluations. At year-end, any required adjustment is considered permanent and is incorporated into the LIFO carrying value of the inventory.
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.
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
Second Quarter 2020
(millions of dollars, unless noted)
First
Second Quarter
Quarter
First Half
2020
2019
2020
2020
2019
Earnings (Loss) / Earnings (Loss) Per Share
Total revenues and other income
32,605
69,091
56,158
88,763
132,716
Total costs and other deductions
34,245
64,459
56,416
90,661
123,795
Income (loss) before income taxes
(1,640
)
4,632
(258
)
(1,898
)
8,921
Income taxes
(471
)
1,241
512
41
3,124
Net income (loss) including noncontrolling interests
(1,169
)
3,391
(770
)
(1,939
)
5,797
Net income (loss) attributable to noncontrolling interests
(89
)
261
(160
)
(249
)
317
Net income (loss) attributable to ExxonMobil (U.S. GAAP)
(1,080
)
3,130
(610
)
(1,690
)
5,480
Earnings (loss) per common share (dollars)
(0.26
)
0.73
(0.14
)
(0.40
)
1.28
Earnings (loss) per common share
- assuming dilution (dollars)
(0.26
)
0.73
(0.14
)
(0.40
)
1.28
Exploration expenses, including dry holes
214
333
288
502
613
Other Financial Data
Dividends on common stock
Total
3,715
3,715
3,719
7,434
7,220
Per common share (dollars)
0.87
0.87
0.87
1.74
1.69
Millions of common shares outstanding
At period end
4,228
4,231
Average - assuming dilution
4,271
4,271
4,270
4,270
4,270
ExxonMobil share of equity at period end
180,183
191,377
ExxonMobil share of capital employed at period end
251,998
239,033
Income taxes
(471
)
1,241
512
41
3,124
Total other taxes and duties
5,683
8,366
7,497
13,180
16,453
Total taxes
5,212
9,607
8,009
13,221
19,577
Sales-based taxes
3,129
5,261
4,485
7,614
10,246
Total taxes including sales-based taxes
8,341
14,868
12,494
20,835
29,823
ExxonMobil share of income taxes of
equity companies
(18
)
501
460
442
1,350
Attachment II-a
Exxon Mobil Corporation
Second Quarter 2020
First
$ Millions
Second Quarter
Quarter
First Half
2020
2019
2020
2020
2019
Earnings/(Loss) (U.S. GAAP)
(1,080)
3,130
(610)
(1,690)
5,480
Identified Items Included in Earnings/(Loss)
Noncash inventory valuation - lower of cost or market
1,922
-
(2,096)
(174)
-
Impairment
-
-
(787)
(787)
-
Non-U.S. tax item
-
505
-
-
505
Corporate total
1,922
505
(2,883)
(961)
505
Earnings/(Loss) Excluding Identified Items
(3,002)
2,625
2,273
(729)
4,975
$ Per Common Share1
Earnings/(Loss) Per Common Share
Assuming Dilution (U.S. GAAP)
(0.26)
0.73
(0.14)
(0.40)
1.28
Identified Items Included in Earnings/(Loss)
Per Common Share Assuming Dilution
Noncash inventory valuation - lower of cost or market
0.44
-
(0.49)
(0.05)
-
Impairment
-
-
(0.18)
(0.18)
-
Non-U.S. tax item
-
0.12
-
-
0.12
Corporate total
0.44
0.12
(0.67)
(0.23)
0.12
Earnings/(Loss) Excluding Identified Items
Per Common Share Assuming Dilution
(0.70)
0.61
0.53
(0.17)
1.16
1 Computed using the average number of shares outstanding during each period.
Attachment II-b
Exxon Mobil Corporation
Second Quarter 2020
(millions of dollars)
First
Second Quarter
Quarter
First Half
2020
2019
2020
2020
2019
Earnings/(Loss) (U.S. GAAP)
Upstream
United States
(1,197
)
335
(704
)
(1,901
)
431
Non-U.S.
(454
)
2,926
1,240
786
5,706
Downstream
United States
(101
)
310
(101
)
(202
)
149
Non-U.S.
1,077
141
(510
)
567
46
Chemical
United States
171
(6
)
288
459
155
Non-U.S.
296
194
(144
)
152
551
Corporate and financing
(872
)
(770
)
(679
)
(1,551
)
(1,558
)
Net income (loss) attributable to ExxonMobil
(1,080
)
3,130
(610
)
(1,690
)
5,480
Identified Items Included in Earnings/(Loss)
U.S. Upstream
Other Items (Inventory valuation, Impairment)
45
-
(360
)
(315
)
-
Non-U.S. Upstream
Tax Items
-
487
-
-
487
Other Items (Inventory valuation, Impairment)
168
-
(259
)
(91
)
-
U.S. Downstream
Other Items (Inventory valuation, Impairment)
404
-
(411
)
(7
)
-
Non-U.S. Downstream
Tax Items
-
(9
)
-
-
(9
)
Other Items (Inventory valuation, Impairment)
1,190
-
(1,531
)
(341
)
-
U.S. Chemical
Other Items (Inventory valuation, Impairment)
(29
)
-
(90
)
(119
)
-
Non-U.S. Chemical
Tax Items
-
2
-
-
2
Other Items (Inventory valuation, Impairment)
144
-
(232
)
(88
)
-
Corporate and financing
Tax Items
-
25
-
-
25
Corporate total
1,922
505
(2,883
)
(961
)
505
Earnings/(Loss) Excluding Identified Items
Upstream
United States
(1,242
)
335
(344
)
(1,586
)
431
Non-U.S.
(622
)
2,439
1,499
877
5,219
Downstream
United States
(505
)
310
310
(195
)
149
Non-U.S.
(113
)
150
1,021
908
55
Chemical
United States
200
(6
)
378
578
155
Non-U.S.
152
192
88
240
549
Corporate and financing
(872
)
(795
)
(679
)
(1,551
)
(1,583
)
Corporate total
(3,002
)
2,625
2,273
(729
)
4,975
Attachment III
Exxon Mobil Corporation
Second Quarter 2020
First
Second Quarter
Quarter
First Half
2020
2019
2020
2020
2019
Net production of crude oil, natural gas
liquids, bitumen and synthetic oil,
thousand barrels per day (kbd)
United States
628
662
699
664
631
Canada / Other Americas
483
469
558
520
462
Europe
31
103
30
31
112
Africa
333
383
360
346
376
Asia
783
727
795
789
736
Australia / Oceania
48
45
38
43
41
Worldwide
2,306
2,389
2,480
2,393
2,358
Natural gas production available for sale,
million cubic feet per day (mcfd)
United States
2,642
2,803
2,825
2,733
2,758
Canada / Other Americas
269
249
317
293
243
Europe
619
1,215
1,293
956
1,662
Africa
4
5
7
6
6
Asia
3,218
3,461
3,710
3,464
3,557
Australia / Oceania
1,238
1,387
1,244
1,241
1,294
Worldwide
7,990
9,120
9,396
8,693
9,520
Oil-equivalent production (koebd)1
3,638
3,909
4,046
3,842
3,945
1 Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.
Attachment IV
Exxon Mobil Corporation
Second Quarter 2020
First
Second Quarter
Quarter
First Half
2020
2019
2020
2020
2019
Refinery throughput (kbd)
United States
1,440
1,430
1,558
1,499
1,402
Canada
278
344
383
330
364
Europe
1,085
1,314
1,295
1,190
1,320
Asia Pacific
568
683
637
603
646
Other
145
159
187
166
176
Worldwide
3,516
3,930
4,060
3,788
3,908
Petroleum product sales (kbd)
United States
1,959
2,264
2,231
2,095
2,237
Canada
353
482
456
405
483
Europe
1,130
1,443
1,403
1,266
1,476
Asia Pacific
640
775
708
674
762
Other
355
444
489
422
454
Worldwide
4,437
5,408
5,287
4,862
5,412
Gasolines, naphthas
1,736
2,198
2,122
1,929
2,173
Heating oils, kerosene, diesel
1,649
1,820
1,867
1,758
1,867
Aviation fuels
147
391
383
265
389
Heavy fuels
262
308
256
259
304
Specialty products
643
691
659
651
679
Worldwide
4,437
5,408
5,287
4,862
5,412
Chemical prime product sales,
thousand metric tons (kt)
United States
1,985
2,295
2,195
4,180
4,617
Non-U.S.
3,960
4,404
4,042
8,002
8,854
Worldwide
5,945
6,699
6,237
12,182
13,471
Attachment V
Exxon Mobil Corporation
Second Quarter 2020
(millions of dollars)
First
Second Quarter
Quarter
First Half
2020
2019
2020
2020
2019
Capital and Exploration Expenditures
Upstream
United States
1,637
3,255
2,798
4,435
5,803
Non-U.S.
1,940
2,987
2,328
4,268
5,800
Total
3,577
6,242
5,126
8,703
11,603
Downstream
United States
719
624
747
1,466
1,038
Non-U.S.
334
489
487
821
904
Total
1,053
1,113
1,234
2,287
1,942
Chemical
United States
563
553
597
1,160
1,105
Non-U.S.
132
165
185
317
309
Total
695
718
782
1,477
1,414
Other
2
6
1
3
10
Worldwide
5,327
8,079
7,143
12,470
14,969
Cash flow from operations and asset sales excluding working capital
Net cash provided by operating activities
(U.S. GAAP)
-
5,947
6,274
6,274
14,285
Proceeds associated with asset sales
43
33
86
129
140
Cash flow from operations and asset sales
43
5,980
6,360
6,403
14,425
Changes in operational working capital
1,460
1,243
942
2,402
(1,014
)
Cash flow from operations and asset sales
1,503
7,223
7,302
8,805
13,411
excluding working capital
Attachment VI
Exxon Mobil Corporation
Earnings/(Loss)
$ Millions
$ Per Common Share1
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
2019
First Quarter
2,350
0.55
Second Quarter
3,130
0.73
Third Quarter
3,170
0.75
Fourth Quarter
5,690
1.33
Year
14,340
3.36
2020
First Quarter
(610
)
(0.14
)
Second Quarter
(1,080
)
(0.26
)
1 Computed using the average number of shares outstanding during each period.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200731005245/en/
ExxonMobil Media Relations, 972-940-6007
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