Financial information

(millions of dollars, unless noted)

	2017	2016	2015	2014	2013
Net income attributable to ExxonMobil	19,710	7,840	16,150	32,520	32,580
Cash flow from operations and asset sales †	33,169	26,357	32,733	49,151	47,621
Capital and exploration expenditures †	23,080	19,304	31,051	38,537	42,489
Research and development costs	1,063	1,058	1,008	971	1,044
Total debt at year end	42,336	42,762	38,687	29,121	22,699
Average capital employed †	222,631	212,226	208,755	203,110	191,575
Market valuation at year end	354,561	374,438	323,928	388,398	438,684
Regular employees at year end (thousands)	69.6	71.1	73.5	75.3	75.0

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	2017	2016	2015	2014	2013
Return on average capital employed † (percent)	9.0	3.9	7.9	16.2	17.2
Earnings to average ExxonMobil share of equity (percent)	11.1	4.6	9.4	18.7	19.2
Debt to capital ‡ (percent)	17.9	19.7	18.0	13.9	11.2
Net debt to capital § (percent)	16.8	18.4	16.5	11.9	9.1
Current assets to current liabilities (times)	0.82	0.87	0.79	0.82	0.83
Fixed-charge coverage (times)	13.2	5.7	17.6	46.9	55.7

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	2017	2016	2015	2014	2013
Dividends per common share (dollars)	3.06	2.98	2.88	2.70	2.46
Dividends per share growth (annual percent)	2.7	3.5	6.7	9.8	12.8
Number of common shares outstanding (millions)
Average	4,256	4,177	4,196	4,282	4,419
Average – assuming dilution	4,256	4,177	4,196	4,282	4,419
Year end	4,239	4,148	4,156	4,201	4,335
Total shareholder return † (annual percent)	(3.8)	19.8	(12.6)	(6.0)	20.1
Common stock acquired (millions of dollars)	747	977	4,039	13,183	15,998
Market quotations for common stock (dollars)
High	91.34	95.55	93.45	104.76	101.74
Low	76.05	71.55	66.55	86.19	84.79
Average daily close	81.86	86.22	82.83	97.27	90.51
Year-end close	83.64	90.26	77.95	92.45	101.20

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(millions of dollars)

Upstream	2017	2016	2015	2014	2013
United States	64,896	62,114	64,086	62,403	59,898
Non-U.S.	109,778	107,941	105,868	102,562	93,071
Total	174,674	170,055	169,954	164,965	152,969

Downstream
United States	7,936	7,573	7,497	6,070	4,757
Non-U.S.	14,578	14,231	15,756	17,907	19,673
Total	22,514	21,804	23,253	23,977	24,430

Chemical
United States	10,672	9,018	7,696	6,121	4,872
Non-U.S.	16,844	15,826	16,054	16,076	15,793
Total	27,516	24,844	23,750	22,197	20,665

Corporate and Financing	(2,073)	(4,477)	(8,202)	(8,029)	(6,489)
Corporate total	222,631	212,226	208,755	203,110	191,575
Average capital employed applicable to equity companies included above	35,941	34,190	34,248	35,403	35,234

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(percent)

Upstream	2017	2016	2015	2014	2013
United States	10.2	(6.7)	(1.7)	8.3	7.0
Non-U.S.	6.1	4.0	7.7	21.8	24.3
Total	7.6	0.1	4.2	16.7	17.5

Downstream
United States	24.5	14.4	25.4	26.7	46.2
Non-U.S.	25.0	21.8	29.6	8.0	6.4
Total	24.9	19.3	28.2	12.7	14.1

Chemical
United States	20.5	20.8	31.0	45.8	56.5
Non-U.S.	13.8	17.3	12.7	9.4	6.8
Total	16.4	18.6	18.6	19.4	18.5

Corporate and Financing	N.A.	N.A.	N.A.	N.A.	N.A.
Corporate total	9.0	3.9	7.9	16.2	17.2

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(millions of dollars)

Upstream	2017	2016	2015	2014	2013
Exploration
United States	527	252	491	448	1,032
Non-U.S.	5,744	1,574	2,189	3,241	6,123
Total	6,271	1,826	2,680	3,689	7,155
Production ‡
United States	3,189	3,266	7,331	8,953	8,113
Non-U.S.	7,235	9,450	15,396	20,085	22,826
Total	10,424	12,716	22,727	29,038	30,939
Power
United States	–	–	–	–	–
Non-U.S.	–	–	–	–	137
Total	–	–	–	–	137
Total Upstream	16,695	14,542	25,407	32,727	38,231

Downstream
Refining
United States	655	675	830	967	651
Non-U.S.	1,381	1,337	1,153	1,042	1,046
Total	2,036	2,012	1,983	2,009	1,697
Marketing
United States	34	27	142	285	159
Non-U.S.	320	286	421	682	413
Total	354	313	563	967	572
Pipeline/Marine
United States	134	137	67	58	141
Non-U.S.	–	–	–	–	3
Total	134	137	67	58	144
Total Downstream	2,524	2,462	2,613	3,034	2,413

Chemical
United States	1,583	1,553	1,945	1,690	963
Non-U.S.	2,188	654	898	1,051	869
Total Chemical	3,771	2,207	2,843	2,741	1,832

Other
United States	90	93	188	35	13
Non-U.S.	–	–	–	–	–
Total other	90	93	188	35	13
Total capital and exploration expenditures	23,080	19,304	31,051	38,537	42,489

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(millions of dollars)

	2017	2016	2015	2014	2013
United States	6,212	6,003	10,994	12,436	11,072
Canada/Other Americas	3,016	2,762	5,269	8,191	12,838
Europe	1,828	2,088	2,572	2,851	3,045
Africa	4,730	2,295	3,679	4,187	4,220
Asia	6,046	4,684	5,426	7,330	6,734
Australia/Oceania	1,248	1,472	3,111	3,542	4,580
Total worldwide	23,080	19,304	31,051	38,537	42,489

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(millions of dollars)

Consolidated companies’ expenditures	2017	2016	2015	2014	2013
Capital expenditures	18,754	16,009	27,610	33,056	36,862
Exploration costs charged to expense
United States	161	220	182	230	395
Non-U.S.	1,626	1,242	1,340	1,432	1,573
Depreciation on support equipment ‡	3	5	1	7	8
Total exploration expenses	1,790	1,467	1,523	1,669	1,976
Total consolidated companies’ capital and exploration expenditures (excluding depreciation on support equipment)	20,541	17,471	29,132	34,718	38,830

ExxonMobil’s share of non-consolidated companies’ expenditures
Capital expenditures	1,660	1,781	1,871	3,517	3,199
Exploration costs charged to expense §	879	52	48	302	460
Total non-consolidated companies’ capital and exploration expenditures	2,539	1,833	1,919	3,819	3,659
Total capital and exploration expenditures	23,080	19,304	31,051	38,537	42,489

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(millions of dollars)

Earnings (U.S. GAAP)	Q1	Q2	Q3	Q4	2017	2016	2015	2014	2013
Upstream
United States	(18)	(183)	(238)	7,061	6,622	(4,151)	(1,079)	5,197	4,191
Non-U.S.	2,270	1,367	1,805	1,291	6,733	4,347	8,180	22,351	22,650
Total	2,252	1,184	1,567	8,352	13,355	196	7,101	27,548	26,841
Downstream
United States	292	347	391	918	1,948	1,094	1,901	1,618	2,199
Non-U.S.	824	1,038	1,141	646	3,649	3,107	4,656	1,427	1,250
Total	1,116	1,385	1,532	1,564	5,597	4,201	6,557	3,045	3,449
Chemical
United States	529	481	403	777	2,190	1,876	2,386	2,804	2,755
Non-U.S.	642	504	689	493	2,328	2,739	2,032	1,511	1,073
Total	1,171	985	1,092	1,270	4,518	4,615	4,418	4,315	3,828
Corporate and Financing	(529)	(204)	(221)	(2,806)	(3,760)	(1,172)	(1,926)	(2,388)	(1,538)
Net income attributable to ExxonMobil (U.S. GAAP)	4,010	3,350	3,970	8,380	19,710	7,840	16,150	32,520	32,580

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(millions of dollars)

Upstream	2017	2016	2015	2014	2013
United States	81,267	78,294	85,070	83,456	80,176
Non-U.S.	119,024	117,610	118,752	121,852	117,378
Total	200,291	195,904	203,822	205,308	197,554

Downstream
United States	9,586	9,662	9,879	10,314	9,955
Non-U.S.	12,146	10,926	11,451	12,325	13,264
Total	21,732	20,588	21,330	22,639	23,219

Chemical
United States	9,103	8,070	6,855	5,345	4,179
Non-U.S.	11,014	9,331	9,392	9,573	9,786
Total	20,117	17,401	16,247	14,918	13,965

Other	10,490	10,331	10,206	9,803	8,912
Total net investment	252,630	244,224	251,605	252,668	243,650

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(millions of dollars)

Upstream	2017	2016	2015	2014	2013
United States	6,963	9,626	5,301	5,139	5,170
Non-U.S.	9,741	9,550	9,227	8,523	8,277
Total	16,704	19,176	14,528	13,662	13,447

Downstream
United States	658	628	664	654	633
Non-U.S.	883	889	1,003	1,228	1,390
Total	1,541	1,517	1,667	1,882	2,023

Chemical
United States	299	275	375	370	378
Non-U.S.	504	477	654	645	632
Total	803	752	1,029	1,015	1,010

Other	845	863	824	738	702
Total depreciation and depletion expenses	19,893	22,308	18,048	17,297	17,182

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(millions of dollars)

	2017	2016	2015	2014	2013
Production and manufacturing expenses	34,128	31,927	35,587	40,859	40,525
Selling, general and administrative	10,956	10,799	11,501	12,598	12,877
Depreciation and depletion	19,893	22,308	18,048	17,297	17,182
Exploration	1,790	1,467	1,523	1,669	1,976
Subtotal	66,767	66,501	66,659	72,423	72,560
ExxonMobil’s share of equity company expenses	9,016	7,409	8,309	11,072	14,531
Total operating costs	75,783	73,910	74,968	83,495	87,091

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(millions of dollars)

Revenues and other income	2017	2016	2015	2014	2013
Sales and other operating revenue †	237,162	200,628	239,854	367,647	393,039
Income from equity affiliates	5,380	4,806	7,644	13,323	13,927
Other income	1,821	2,680	1,750	4,511	3,492
Total revenues and other income	244,363	208,114	249,248	385,481	410,458

Costs and other deductions
Crude oil and product purchases	128,217	104,171	130,003	225,972	244,156
Production and manufacturing expenses	34,128	31,927	35,587	40,859	40,525
Selling, general and administrative expenses	10,956	10,799	11,501	12,598	12,877
Depreciation and depletion	19,893	22,308	18,048	17,297	17,182
Exploration expenses, including dry holes	1,790	1,467	1,523	1,669	1,976
Interest expense	601	453	311	286	9
Other taxes and duties	30,104	29,020	30,309	35,170	36,022
Total costs and other deductions	225,689	200,145	227,282	333,851	352,747
Income before income taxes	18,674	7,969	21,966	51,630	57,711
Income taxes	(1,174)	(406)	5,415	18,015	24,263
Net income including noncontrolling interests	19,848	8,375	16,551	33,615	33,448
Net income attributable to noncontrolling interests	138	535	401	1,095	868
Net income attributable to ExxonMobil	19,710	7,840	16,150	32,520	32,580
Earnings per common share (dollars)	4.63	1.88	3.85	7.60	7.37
Earnings per common share – assuming dilution (dollars)	4.63	1.88	3.85	7.60	7.37

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(millions of dollars)

Assets	2017	2016	2015	2014	2013
Current assets
Cash and cash equivalents	3,177	3,657	3,705	4,616	4,644
Cash and cash equivalents – restricted	–	–	–	42	269
Notes and accounts receivable, less estimated doubtful amounts	25,597	21,394	19,875	28,009	33,152
Inventories
Crude oil, products and merchandise	12,871	10,877	12,037	12,384	12,117
Materials and supplies	4,121	4,203	4,208	4,294	4,018
Other current assets	1,368	1,285	2,798	3,565	5,108
Total current assets	47,134	41,416	42,623	52,910	59,308
Investments, advances and long-term receivables	39,160	35,102	34,245	35,239	36,328
Property, plant and equipment, at cost, less accumulated depreciation and depletion	252,630	244,224	251,605	252,668	243,650
Other assets, including intangibles, net	9,767	9,572	8,285	8,676	7,522
Total assets	348,691	330,314	336,758	349,493	346,808

Liabilities
Current liabilities
Notes and loans payable	17,930	13,830	18,762	17,468	15,808
Accounts payable and accrued liabilities	36,796	31,193	32,412	42,227	48,085
Income taxes payable	3,045	2,615	2,802	4,938	7,831
Total current liabilities	57,771	47,638	53,976	64,633	71,724
Long-term debt	24,406	28,932	19,925	11,653	6,891
Postretirement benefits reserves	21,132	20,680	22,647	25,802	20,646
Deferred income tax liabilities	26,893	34,041	36,818	39,230	40,530
Long-term obligations to equity companies	4,774	5,124	5,417	5,325	4,742
Other long-term obligations	19,215	20,069	21,165	21,786	21,780
Total liabilities	154,191	156,484	159,948	168,429	166,313

Commitments and contingencies †

Equity
Common stock without par value	14,656	12,157	11,612	10,792	10,077
Earnings reinvested	414,540	407,831	412,444	408,384	387,432
Accumulated other comprehensive income	(16,262)	(22,239)	(23,511)	(18,957)	(10,725)
Common stock held in treasury	(225,246)	(230,424)	(229,734)	(225,820)	(212,781)
ExxonMobil share of equity	187,688	167,325	170,811	174,399	174,003
Noncontrolling interests	6,812	6,505	5,999	6,665	6,492
Total equity	194,500	173,830	176,810	181,064	180,495
Total liabilities and equity	348,691	330,314	336,758	349,493	346,808

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(millions of dollars)

Cash flows from operating activities	2017	2016	2015	2014	2013
Net income including noncontrolling interests	19,848	8,375	16,551	33,615	33,448
Adjustments for noncash transactions
Depreciation and depletion	19,893	22,308	18,048	17,297	17,182
Deferred income tax charges/(credits)	(8,577)	(4,386)	(1,832)	1,540	754
Postretirement benefits expense in excess of/(less than) net payments	1,135	(329)	2,153	524	2,291
Other long-term obligation provisions in excess of/(less than) payments	(610)	(19)	(380)	1,404	(2,566)
Dividends received greater than/(less than) equity in current earnings of equity companies	131	(579)	(691)	(358)	3
Changes in operational working capital, excluding cash and debt
Reduction/(increase) – Notes and accounts receivable	(3,954)	(2,090)	4,692	3,118	(305)
– Inventories	(1,682)	(388)	(379)	(1,343)	(1,812)
– Other current assets	(117)	171	45	(68)	(105)
Increase/(reduction) – Accounts and other payables	5,104	915	(7,471)	(6,639)	(2,498)
Net (gain) on asset sales	(334)	(1,682)	(226)	(3,151)	(1,828)
All other items – net	(771)	(214)	(166)	(823)	350
Net cash provided by operating activities	30,066	22,082	30,344	45,116	44,914

Cash flows from investing activities
Additions to property, plant and equipment	(15,402)	(16,163)	(26,490)	(32,952)	(33,669)
Proceeds associated with sales of subsidiaries, property, plant and equipment, and sales and returns of investments	3,103	4,275	2,389	4,035	2,707
Decrease/(increase) in restricted cash and cash equivalents	–	–	42	227	72
Additional investments and advances	(5,507)	(1,417)	(607)	(1,631)	(4,435)
Other investing activities including collection of advances	2,076	902	842	3,346	1,124
Net cash used in investing activities	(15,730)	(12,403)	(23,824)	(26,975)	(34,201)

Cash flows from financing activities
Additions to long-term debt	60	12,066	8,028	5,731	345
Reductions in long-term debt	–	–	(26)	(69)	(13)
Additions to short-term debt	1,735	–	–	–	16
Reductions in short-term debt	(5,024)	(314)	(506)	(745)	(756)
Additions/(reductions) in commercial paper, and debt with three months or less maturity	2,181	(7,459)	1,759	2,049	12,012
Cash dividends to ExxonMobil shareholders	(13,001)	(12,453)	(12,090)	(11,568)	(10,875)
Cash dividends to noncontrolling interests	(184)	(162)	(170)	(248)	(304)
Changes in noncontrolling interests	(150)	–	–	–	(1)
Tax benefits related to stock-based awards	–	–	2	115	48
Common stock acquired	(747)	(977)	(4,039)	(13,183)	(15,998)
Common stock sold	–	6	5	30	50
Net cash used in financing activities	(15,130)	(9,293)	(7,037)	(17,888)	(15,476)
Effects of exchange rate changes on cash	314	(434)	(394)	(281)	(175)
Increase/(decrease) in cash and cash equivalents	(480)	(48)	(911)	(28)	(4,938)
Cash and cash equivalents at beginning of year	3,657	3,705	4,616	4,644	9,582
Cash and cash equivalents at end of year	3,177	3,657	3,705	4,616	4,644