ExxonMobil Holdings Corp 8-K, filed Jul 31, 2020

ExxonMobil Holdings Corp (XOM)

8-K 2020-07-31 For: 2020-07-31

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Added on August 09, 2026

About this 8-K

ExxonMobil Holdings Corp filed this 8-K on July 31, 2020.

Items reported

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure

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New Jersey	1-2256	13-5409005
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

Securities registered pursuant to Section 12(b) of the Act:
		Name of Each Exchange
Title of Each Class	Trading Symbol	on Which Registered
Common Stock, without par value	XOM	New York Stock Exchange
0.142% Notes due 2024	XOM24B	New York Stock Exchange
0.524% Notes due 2028	XOM28	New York Stock Exchange
0.835% Notes due 2032	XOM32	New York Stock Exchange
1.408% Notes due 2039	XOM39A	New York Stock Exchange

Item 2.02	Results of Operations and Financial Condition
Item 7.01	Regulation FD Disclosure


	The following information is furnished pursuant to both Item 2.02 and Item 7.01.
	The Registrant hereby furnishes the information set forth in its News Release, dated July 31, 2020, announcing second quarter 2020 results, a copy of which is included as Exhibit 99.1, and furnishes the information in the related 2Q20 Investor Relations Data Summary, a copy of which is included as Exhibit 99.2. Material available by hyperlink from the News Release is not deemed to be furnished herewith or included in this filing.

Exhibit No.	Description

99.1	Exxon Mobil Corporation News Release, dated July 31, 2020, announcing second quarter 2020 results.

99.2	2Q20 Investor Relations Data Summary.

104	Cover Page Interactive Data File (formatted as Inline XBRL).

	EXXON MOBIL CORPORATION


Date: July 31, 2020	By:	/s/ DAVID S. ROSENTHAL
		David S. Rosenthal
		Vice President and Controller
		(Principal Accounting Officer)


	(Former name or former address, if changed since last report)

*News Release*
	Exxon Mobil Corporation
	5959 Las Colinas Boulevard
	Irving, TX 75039
	972 940 6007 Telephone
	972 940 6143 Facsimile
FOR IMMEDIATE RELEASE
FRIDAY, JULY 31, 2020

ExxonMobil Reports Results for Second Quarter 2020

	•	Global oversupply and COVID-related demand impacts drive second quarter loss of $1.1 billion
	•	On track to meet or exceed 2020 capital and cash operating spend reduction targets
	•	Supporting COVID-19 response by reconfiguring operations to increase production of hand sanitizer and raw materials for protective equipment for first responders


				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


Second Quarter 2020 Business Highlights
Upstream
•	Market prices for crude oil increased following the sharp decline at the end of the first quarter; however, average second quarter realizations for crude oil and natural gas were significantly lower reflecting the continued oversupply conditions in the market and the impacts of COVID-19 on global demand.
•	Liquids volumes were down 7 percent from first quarter reflecting the impact of lower demand, including economic and government mandated curtailments. Excluding these curtailment impacts, liquids volumes increased 5 percent. Natural gas volumes were 15 percent lower driven by seasonal demand in Europe and scheduled maintenance.
Downstream
•	Industry fuels margins were considerably lower than in the first quarter, reflecting the impacts of COVID‑19 on demand for gasoline and jet fuel. The company experienced unfavorable mark-to-market derivative impacts associated with its trading activity, compared to favorable impacts in the previous quarter, driven by significant volatility in commodity prices across the periods.
•	Average refinery utilization was down significantly from first quarter on lower demand, as the company spared about 30 percent of its refining capacity. Over the course of the quarter, utilization increased in line with global fuel demand.
Chemical
•	Chemical margins were largely consistent with first quarter. Chemical sales volumes however, while benefiting from resilient demand for essential products, were lower than first quarter driven by the impacts of COVID-19 on global demand.
•	The company continues to support COVID-19 response efforts, further optimizing processes to increase its monthly production of specialized polypropylene, used in masks and medical gowns, and isopropyl alcohol, used in sanitizer, by more than 10 percent.
Strengthening the Portfolio
•	While operations were impacted by logistical restrictions resulting from COVID-19, the company demonstrated production capacity of 120,000 gross barrels of oil per day at the Liza Phase 1 development offshore Guyana. Topsides integration is underway in Singapore on a second floating production, storage and offloading vessel, with production capacity up to 220,000 gross barrels of oil per day, to support the Liza Phase 2 development.

•	During the quarter, ExxonMobil commenced operations at its new Delaware central processing and exporting facility in Eddy County, New Mexico. This new processing and stabilization facility enhances the company’s integration advantages by collecting and processing oil and natural gas from its assets in the Delaware Basin for delivery to Gulf Coast markets.

Disciplined Investing and Expense Management
•	During the quarter, ExxonMobil made significant progress on its previously announced capital and cash operating spend reductions. Planned reductions to the company’s capital investment program for 2020, from $33 billion to $23 billion, are ahead of schedule, reflecting increased efficiencies, lower market prices, and slower project pace. The expected decrease in cash operating expenses of about 15 percent is also ahead of schedule, capturing savings from increased efficiencies, reduced activity, and lower energy costs and volumes.

Advancing Innovative Technologies and Products
•	During the quarter, ExxonMobil launched a first-of-its-kind high-frequency network of sensors designed to monitor and detect methane emissions in the Permian Basin. Project Astra is a collaboration with the University of Texas, Gas Technology Institute, Environmental Defense Fund and Pioneer Natural Resources that could provide a more affordable, efficient solution to address methane emissions over large areas of operations.

•	ExxonMobil has renewed a five-year agreement with Princeton University’s Andlinger Center for Energy and Environment to accelerate research, development and deployment of energy and environmental technologies with a focus on carbon capture and storage, carbonate fuel cells, and lower-emission technologies. The collaboration extends ExxonMobil’s participation in Princeton’s E-filliates Partnership, which began in 2015.

•	Scientists from ExxonMobil, the Georgia Institute of Technology and Imperial College of London published joint research on potential breakthroughs in a new membrane technology that could reduce emissions and energy intensity associated with refining crude oil. Laboratory tests indicate the patent‑pending membrane could be used to replace some heat-intensive distillation at refineries in the years ahead.


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	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

	*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-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

						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

¹Natural 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 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 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.

EXXON MOBIL CORPORATION					EXHIBIT 99.2

To assist investors in assessing 2Q20 results, the following disclosures have been made available in this 8-K filing:
	- Identified items of $0.44 per share assuming dilution, as noted on page 1 of the news release
	- A reconciliation of cash flow from operations and asset sales excluding working capital on page 1 of this exhibit and on
	page 7 and attachment V of the news release

2Q20 INVESTOR RELATIONS DATA SUMMARY (PAGE 1 of 4)

Earnings (Loss), $M		2Q20	1Q20	4Q19	3Q19	2Q19
Upstream
	United States	(1,197)	(704)	68	37	335
	Non-U.S.	(454)	1,240	6,069	2,131	2,926
	Total	(1,651)	536	6,137	2,168	3,261
Downstream
	United States	(101)	(101)	895	673	310
	Non-U.S.	1,077	(510)	3	557	141
	Total	976	(611)	898	1,230	451
Chemical
	United States	171	288	(2)	53	(6)
	Non-U.S.	296	(144)	(353)	188	194
	Total	467	144	(355)	241	188

Corporate and financing		(872)	(679)	(990)	(469)	(770)
Net income (loss) attributable to ExxonMobil (U.S. GAAP)		(1,080)	(610)	5,690	3,170	3,130

Earnings (Loss) per common share (U.S. GAAP)		(0.26)	(0.14)	1.33	0.75	0.73
Earnings (Loss) per common share
- assuming dilution (U.S. GAAP)		(0.26)	(0.14)	1.33	0.75	0.73

Exploration expenses, including dry holes		214	288	357	299	333

Capital and Exploration Expenditures, $M
Upstream
	United States	1,637	2,798	2,848	3,002	3,255
	Non-U.S.	1,940	2,328	3,243	2,789	2,987
	Total	3,577	5,126	6,091	5,791	6,242
Downstream
	United States	719	747	725	590	624
	Non-U.S.	334	487	635	479	489
	Total	1,053	1,234	1,360	1,069	1,113
Chemical
	United States	563	597	786	656	553
	Non-U.S.	132	185	213	196	165
	Total	695	782	999	852	718
Other		2	1	10	7	6

Total Capital and Exploration Expenditures		5,327	7,143	8,460	7,719	8,079

Effective Income Tax Rate, %		29%	481%	20%	37%	34%

Common Shares Outstanding, millions
	At quarter end	4,228	4,228	4,234	4,231	4,231
	Average - assuming dilution	4,271	4,270	4,269	4,271	4,271

Total Cash and Cash Equivalents, $B		12.6	11.4	3.1	5.4	4.2

Total Debt, $B		69.5	59.6	46.9	47.1	45.2

Cash Flow from Operations and Asset Sales, $M
	Net cash provided by operating activities	-	6,274	6,352	9,079	5,947
	Proceeds associated with asset sales	43	86	3,092	460	33
	Cash flow from operations and asset sales	43	6,360	9,444	9,539	5,980
	Changes in operational working capital	1,460	942	1,641	(1,550)	1,243
	Cash flow from operations and asset sales	1,503	7,302	11,085	7,989	7,223
	excluding working capital

EXXON MOBIL CORPORATION

2Q20 INVESTOR RELATIONS DATA SUMMARY (PAGE 2 of 4)

Net production of crude oil, natural gas		2Q20	1Q20	4Q19	3Q19	2Q19
liquids, bitumen and synthetic oil, kbd
	United States	628	699	665	654	662
	Canada / Other Americas	483	558	487	464	469
	Europe	31	30	93	113	103
	Africa	333	360	366	371	383
	Asia	783	795	780	738	727
	Australia / Oceania	48	38	45	52	45
Total liquids production		2,306	2,480	2,436	2,392	2,389

Natural gas production available for sale, mcfd
	United States	2,642	2,825	2,713	2,883	2,803
	Canada / Other Americas	269	317	287	254	249
	Europe	619	1,293	1,508	1,004	1,215
	Africa	4	7	10	7	5
	Asia	3,218	3,710	3,753	3,433	3,461
	Australia / Oceania	1,238	1,244	1,224	1,464	1,387
Total natural gas production available for sale		7,990	9,396	9,495	9,045	9,120

Total worldwide liquids and gas production, koebd ¹		3,638	4,046	4,018	3,899	3,909

Refinery throughput, kbd
	United States	1,440	1,558	1,675	1,647	1,430
	Canada	278	383	322	363	344
	Europe	1,085	1,295	1,304	1,325	1,314
	Asia Pacific	568	637	570	532	683
	Other Non-U.S.	145	187	182	185	159
Total refinery throughput		3,516	4,060	4,053	4,052	3,930

Petroleum product sales, kbd
	United States	1,959	2,231	2,356	2,336	2,264
	Canada	353	456	444	492	482
	Europe	1,130	1,403	1,456	1,508	1,443
	Asia Pacific	640	708	729	700	775
	Other Non-U.S.	355	489	497	468	444
Total petroleum product sales		4,437	5,287	5,482	5,504	5,408

	Gasolines, naphthas	1,736	2,122	2,276	2,255	2,198
	Heating oils, kerosene, diesel	1,649	1,867	1,903	1,833	1,820
	Aviation fuels	147	383	399	445	391
	Heavy fuels	262	256	217	261	308
	Specialty products	643	659	687	710	691
Total petroleum product sales		4,437	5,287	5,482	5,504	5,408

Chemical prime product sales, kt
	United States	1,985	2,195	2,294	2,216	2,295
	Non-U.S.	3,960	4,042	4,275	4,260	4,404
Total chemical prime product sales		5,945	6,237	6,569	6,476	6,699

¹ Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.

EXXON MOBIL CORPORATION

2Q20 INVESTOR RELATIONS DATA SUMMARY (PAGE 3 of 4)

Earnings Factor Analysis, $M				2Q20 vs. 2Q19	2Q20 vs. 1Q20	2020 vs. 2019
Upstream
	Prior Period			3,261	536	6,137
		Realization		-4,520	-2,760	-6,400
		Volume / Mix		-370	-250	-280
		Other		-20	820	-570
			Identified Items	-270	830	-890
			Expenses	370	350	140
			Forex	-10	-220	210
			Other	-110	-140	-30
	Current Period			-1,651	-1,651	-1,115
Downstream
	Prior Period			451	-611	195
		Margin		-1,680	-2,340	-360
		Volume / Mix		-10	-150	300
			Manufacturing (Volume / Mix)	370	90	720
			Market Demand (Volume / Mix)	-380	-240	-420
		Other		2,220	4,080	230
			Manufacturing (Other)	130	100	240
			Expenses (Other)	340	220	250
			Identified Items	1,600	3,530	-340
			Forex	80	110	20
			Other	70	120	60
	Current Period			976	976	365
Chemical
	Prior Period			188	144	706
		Margin		140	-	180
		Volume / Mix		-180	-170	-280
		Other		320	490	-
			Identified Items	110	430	-210
			Expenses	240	110	190
			Other	-30	-50	20
	Current Period			467	467	611

Upstream Volume Factor Analysis, koebd
	Prior Period			3,909	4,046	3,945
		Downtime / Maintenance		105	-9	75
		Growth / Decline		98	-8	156
		Entitlements / Divestments		-46	68	-97
		Government Mandates		-121	-121	-57
		Demand / Other		-307	-338	-180
	Current Period			3,638	3,638	3,842

EXXON MOBIL CORPORATION

2Q20 INVESTOR RELATIONS DATA SUMMARY (PAGE 4 of 4)

Sources and Uses of Funds, $M			2Q20
Beginning Cash			11,412
	Earnings		-1,080
	Depreciation		4,916
	Noncash inventory adjustment		-2,069
	Working Capital / Other		-1,767
	Proceeds Associated with Asset Sales		43
	PP&E Adds / Investments and Advances¹		-5,124
	Shareholder Distributions		-3,715
	Debt / Other Financing		9,960
Ending Cash			12,576

¹ PP&E Adds / Investments and Advances includes PP&E adds of ($4.4B) and net advances of ($0.7B).

Average Realization Data			2Q20	1Q20	4Q19	3Q19	2Q19
United States
	ExxonMobil
		Crude ($/b)	21.79	42.82	55.61	54.51	57.95
		Natural Gas ($/kcf)	1.57	1.69	2.16	2.03	2.22

	Benchmarks
		WTI ($/b)	27.80	45.97	56.98	56.44	59.80
		ANS-WC ($/b)	30.06	51.45	64.38	63.03	68.18
		Henry Hub ($/mbtu)	1.71	1.95	2.50	2.23	2.64

Non-U.S.
	ExxonMobil
		Crude ($/b)	20.91	41.96	56.61	55.92	62.47
		Natural Gas ($/kcf)	4.07	5.60	5.89	5.81	5.84
		European NG ($/kcf)	2.67	4.68	5.15	4.37	5.10

	Benchmarks
		Brent ($/b)	29.20	50.26	63.26	61.94	68.83

The above numbers reflect ExxonMobil’s current estimate of volumes and realizations given data available as of the end of the second quarter of 2020. Volumes and realizations may be adjusted when full statements on joint venture operations are received from outside operators. ExxonMobil management assumes no duty to update these estimates.