Exxon Mobil Corporation 8-K





UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



FORM 8-K



CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934




Date of Report (Date of earliest event reported): January 31, 2012


Exxon Mobil Corporation

(Exact name of registrant as specified in its charter)




New Jersey

1-2256

13-5409005

(State or other jurisdiction

(Commission

(IRS Employer

of incorporation)

File Number)

Identification No.)




5959 LAS COLINAS BOULEVARD, IRVING, TEXAS 75039-2298

          (Address of principal executive offices)                                            (Zip Code)



 Registrant’s telephone number, including area code (972) 444-1000




 

 

 

 

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

 


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))











Item 7.01

Regulation FD Disclosure

Item 2.02

Results of Operations and Financial Condition



The following information is furnished pursuant to both Item 7.01 and Item 2.02.


The Registrant hereby furnishes the information set forth in its News Release, dated January 31, 2012, announcing fourth quarter 2011 results, a copy of which is included as Exhibit 99.1, and furnishes the information in the related 4Q11 Investor Relations Data Summary, a copy of which is included as Exhibit 99.2.












































-2-










SIGNATURE





Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




EXXON MOBIL CORPORATION



Date:  January 31, 2012

By:

/s/ Patrick T. Mulva

----------------------------------------------

Name:

Patrick T. Mulva

Title:

Vice President, Controller and

Principal Accounting Officer


























-3-





INDEX TO EXHIBITS




Exhibit No.

Description


99.1

Exxon Mobil Corporation News Release, dated January 31, 2012, announcing fourth quarter 2011 results.


99.2

4Q11 Investor Relations Data Summary.













































-4-


Exxon Mobil Corporation - 8k Press Release

 EXHIBIT 99.1

News Release

[f8k4q991002.gif]

 

Exxon Mobil Corporation

 

5959 Las Colinas Boulevard

 

Irving, TX  75039

 

972 444 1107 Telephone

 

972 444 1138 Facsimile

 

 

 

 

FOR IMMEDIATE RELEASE

 

TUESDAY, JANUARY 31, 2012

 

 

 


EXXON MOBIL CORPORATION ANNOUNCES ESTIMATED

FOURTH QUARTER 2011 RESULTS


 

 

 

 

 

 

 

 

Fourth Quarter

 

Twelve Months

 

 

2011

2010

%

2011

2010

%

Earnings Excluding Special Items 1

 

 

 

 

 

 

   $ Millions

9,400

9,250

2

41,060

30,460

35

   $ Per Common Share

 

 

 

 

 

 

      Assuming Dilution

1.97

1.85

6

8.42

6.22

35

 

 

 

 

 

 

 

Special Items

 

 

 

 

 

 

   $ Millions

0

0

 

0

0

 

 

 

 

 

 

 

 

Earnings

 

 

 

 

 

 

   $ Millions

9,400

9,250

2

41,060

30,460

35

   $ Per Common Share

 

 

 

 

 

 

      Assuming Dilution

1.97

1.85

6

8.42

6.22

35

 

 

 

 

 

 

 

Capital and Exploration

 

 

 

 

 

 

Expenditures - $ Millions

10,019

10,061

0

36,766

32,226

14

 

 

 

 

 

 

 

1 See page 8 for a reference to earnings


EXXONMOBIL'S CHAIRMAN REX W. TILLERSON COMMENTED:

“ExxonMobil recorded strong results while investing at record levels to develop new supplies of energy that are critical to meeting growing world demand, and supporting economic recovery and growth.


Fourth quarter earnings of $9.4 billion were up 2% from the fourth quarter of 2010.  Full year 2011 earnings were $41.1 billion, up 35% from 2010, reflecting higher crude oil and natural gas realizations, improved refining and chemical margins, and gains on asset sales.


Capital and exploration expenditures were a record $36.8 billion in 2011.





Oil-equivalent production was up 1% from 2010.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was up 4%.


In 2011, the Corporation distributed $29 billion to shareholders through dividends and share purchases to reduce shares outstanding.”




FOURTH QUARTER HIGHLIGHTS


Earnings were $9,400 million, an increase of 2% or $150 million from the fourth quarter of 2010.


Earnings per share (assuming dilution) were $1.97, an increase of 6% from the fourth quarter of 2010.


Capital and exploration expenditures were $10.0 billion, consistent with the fourth quarter of 2010.


Oil-equivalent production decreased 9% from the fourth quarter of 2010.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was down 4%.


Cash flow from operations and asset sales was $17.6 billion, including proceeds associated with asset sales of $6.9 billion.


Share purchases to reduce shares outstanding were $5 billion.


Dividends per share of $0.47 increased 7% compared to the fourth quarter of 2010.


ExxonMobil was the high bidder on 50 blocks in the most recent U.S. Gulf of Mexico lease sale, providing new exploration opportunities.  


Construction of a lower-sulfur fuels project began at the joint Saudi Aramco and ExxonMobil refinery in Yanbu, Saudi Arabia.




-2-


Fourth Quarter 2011 vs. Fourth Quarter 2010


Upstream earnings were $8,829 million, up $1,349 million from the fourth quarter of 2010. Higher liquids and natural gas realizations increased earnings by $1,990 million. Lower volumes and production mix effects decreased earnings by $1,450 million.  All other items, primarily gains on asset sales, increased earnings by $810 million.


On an oil-equivalent basis, production decreased 9% from the fourth quarter of 2010. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was down 4%.


Liquids production totaled 2,250 kbd (thousands of barrels per day), down 276 kbd from the fourth quarter of 2010.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, liquids production was down 3%, mainly due to field decline.

 

Fourth quarter natural gas production was 13,677 mcfd (millions of cubic feet per day), down 975 mcfd from 2010, as U.S. growth was more than offset by field decline and lower demand in Europe.


Earnings from U.S. Upstream operations were $1,184 million, $133 million lower than the fourth quarter of 2010.  Non-U.S. Upstream earnings were $7,645 million, up $1,482 million from last year.


Downstream earnings of $425 million were down $725 million from the fourth quarter of 2010.  Weaker margins, principally in refining, decreased earnings $740 million. Volume and mix effects decreased earnings by $30 million, while all other items increased earnings by $40 million.  Petroleum product sales of 6,493 kbd were 62 kbd lower than last year's fourth quarter.


Earnings from the U.S. Downstream were $30 million, down $196 million from the fourth quarter of 2010.  Non-U.S. Downstream earnings of $395 million were $529 million lower than last year.




-3-



Chemical earnings of $543 million were $524 million lower than the fourth quarter of 2010.  Weaker margins decreased earnings by $230 million, while lower volumes and mix effects reduced earnings by $40 million.  Other items, mainly unfavorable tax effects, decreased earnings by $250 million.  Fourth quarter prime product sales of 6,271 kt (thousands of metric tons) were 78 kt lower than last year's fourth quarter.


Corporate and financing expenses were $397 million, down $50 million from the same period in 2010.


During the fourth quarter of 2011, Exxon Mobil Corporation purchased 69 million shares of its common stock for the treasury at a gross cost of $5.4 billion.  These purchases included $5 billion to reduce the number of shares outstanding, with the balance used to offset shares issued in conjunction with the company's benefit plans and programs. Share purchases to reduce shares outstanding are currently anticipated to equal $5 billion in the first quarter of 2012.  Purchases may be made in both the open market and through negotiated transactions, and may be increased, decreased or discontinued at any time without prior notice.



-4-


Full Year 2011 vs. Full Year 2010


Earnings of $41,060 million increased $10,600 million from 2010.  Earnings per share increased 35% to $8.42.  



FULL YEAR HIGHLIGHTS


Earnings were $41,060 million, up 35%.


Earnings per share (assuming dilution) increased 35% to $8.42.


Oil-equivalent production was up 1% from 2010.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was up 4%.


Cash flow from operations and asset sales was $66.5 billion, including proceeds associated with asset sales of $11.1 billion.


The Corporation distributed $29 billion to shareholders in 2011 through dividends and share purchases to reduce shares outstanding.


Capital and exploration expenditures were a record $36.8 billion, up 14% from 2010.



Upstream earnings were $34,439 million, up $10,342 million from 2010.  Higher crude oil and natural gas realizations increased earnings by $10.6 billion, while volume and production mix effects decreased earnings by $2.5 billion. All other items increased earnings by $2.2 billion, driven by higher gains on asset sales of $2.7 billion, partly offset by increased activity.


On an oil-equivalent basis, production was up 1% compared to 2010.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was up 4%.


Liquids production of 2,312 kbd decreased 110 kbd from 2010.  Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, liquids production was in line with 2010, as higher volumes from Qatar, the U.S., and Iraq offset field decline.


Natural gas production of 13,162 mcfd increased 1,014 mcfd from 2010, driven by additional U.S. unconventional gas volumes and project ramp-ups in Qatar.



-5-



Earnings from U.S. Upstream operations for 2011 were $5,096 million, an increase of $824 million.  Earnings outside the U.S. were $29,343 million, up $9,518 million.


Downstream earnings of $4,459 million increased $892 million from 2010.  Margins, mainly refining, increased earnings by $800 million.  Volume and mix effects improved earnings by $630 million.  All other items, primarily the absence of favorable tax effects and higher expenses, decreased earnings by $540 million.  Petroleum product sales of 6,413 kbd were in line with 2010.


U.S. Downstream earnings were $2,268 million, up $1,498 million from 2010.  Non-U.S. Downstream earnings were $2,191 million, $606 million lower than last year.


Chemical earnings of $4,383 million were down $530 million from 2010.  Stronger margins increased earnings by $260 million, while lower volumes reduced earnings by $180 million.  Other items, including unfavorable tax effects and higher planned maintenance expense, decreased earnings by $610 million.  Prime product sales of 25,006 kt were down 885 kt from 2010.


Corporate and financing expenses were $2,221 million, up $104 million from 2010.


Gross share purchases for 2011 were $22 billion, reducing shares outstanding by 278 million shares.


Estimates of key financial and operating data follow.  



-6-


ExxonMobil will discuss financial and operating results and other matters on a webcast at 10 a.m. Central time on January 31, 2012.  To listen to the event live or in archive, go to our website at exxonmobil.com.



Cautionary statement


Statements relating to future plans, projections, events or conditions are forward-looking statements.  Actual results, including project plans, costs, timing, and capacities; capital and exploration expenditures; and share purchase levels, could differ materially due to factors including: changes in  oil or gas prices or other market or economic conditions affecting the oil and gas industry, including the scope and duration of economic recessions; the outcome of exploration and development efforts; changes in law or government regulation, including tax and environmental requirements; the outcome of commercial negotiations; changes in technical or operating conditions; and other factors discussed under the heading "Factors Affecting Future Results" in the  “Investors” section of our website and in Item 1A of ExxonMobil's 2010  Form 10-K. We assume no duty to update these statements as of any future date.  References to quantities of oil or natural gas may include amounts that we believe will ultimately be produced, but that are not yet classified as “proved reserves” under SEC definitions.


Frequently used terms


Consistent with previous practice, this press release includes both earnings excluding special items and earnings per share excluding special items.  Both are non-GAAP financial measures and are included to help facilitate comparisons of base business performance across periods. Reconciliation to net income attributable to ExxonMobil is shown in Attachment II.  The release also 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 in Attachment II.  Further information on ExxonMobil's frequently used financial and operating measures and other terms is contained under the heading "Frequently Used Terms" available through the “investors” section of our website at exxonmobil.com.




-7-



Reference to Earnings


References to total corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the income statement.  Unless otherwise indicated, references to earnings, special items, earnings excluding special items, Upstream, Downstream, Chemical and Corporate and Financing segment earnings, and earnings per share are ExxonMobil's share after excluding amounts attributable to noncontrolling interests.





-8-



 

Attachment I

 

 

 

 

EXXON MOBIL CORPORATION

 

 

FOURTH QUARTER 2011

 

 

(millions of dollars, unless noted)

 

 

 

Fourth Quarter

 

Twelve Months

 

 

 

2011

2010

 

2011

2010

 

 

Earnings / Earnings Per Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total revenues and other income

121,609

105,186

 

486,429

383,221

 

 

Total costs and other deductions

104,568

89,859

 

413,172

330,262

 

 

Income before income taxes

17,041

15,327

 

73,257

52,959

 

 

Income taxes

7,317

5,811

 

31,051

21,561

 

 

Net income including noncontrolling interests

9,724

9,516

 

42,206

31,398

 

 

Net income attributable to noncontrolling interests

324

266

 

1,146

938

 

 

Net income attributable to ExxonMobil (U.S. GAAP)

9,400

9,250

 

41,060

30,460

 

 

 

 

 

 

 

 

 

 

Earnings per common share (dollars)

1.97

1.86

 

8.43

6.24

 

 

 

 

 

 

 

 

 

 

Earnings per common share

 

 

 

 

 

 

 

- assuming dilution (dollars)

1.97

1.85

 

8.42

6.22

 

 

 

 

 

 

 

 

 

 

Other Financial Data

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dividends on common stock

 

 

 

 

 

 

 

Total

2,247

2,212

 

9,020

8,498

 

 

Per common share (dollars)

0.47

0.44

 

1.85

1.74

 

 

 

 

 

 

 

 

 

 

Millions of common shares outstanding

 

 

 

 

 

 

 

At December 31

 

 

 

4,734

4,979

 

 

Average - assuming dilution

4,775

5,031

 

4,875

4,897

 

 

 

 

 

 

 

 

 

 

ExxonMobil share of equity at December 31

 

 

 

154,396

146,839

 

 

ExxonMobil share of capital employed at December 31

 

 

175,406

166,036

 

 

 

 

 

 

 

 

 

 

Income taxes

7,317

5,811

 

31,051

21,561

 

 

Sales-based taxes

8,490

7,614

 

33,503

28,547

 

 

All other taxes

10,969

10,463

 

43,544

39,127

 

 

Total taxes

26,776

23,888

 

108,098

89,235

 

 

 

 

 

 

 

 

 

 

ExxonMobil share of income taxes of

 

 

 

 

 

 

 

equity companies

1,296

1,367

 

5,603

4,058

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 




-9-



 Attachment II

 

 

EXXON MOBIL CORPORATION

 

 

FOURTH QUARTER 2011

 

 

(millions of dollars)

 

 

 

Fourth Quarter

 

Twelve Months

 

 

 

2011

2010

 

2011

2010

 

 

Earnings (U.S. GAAP)

 

 

 

 

 

 

 

Upstream

 

 

 

 

 

 

 

United States

1,184

1,317

 

5,096

4,272

 

 

Non-U.S.

7,645

6,163

 

29,343

19,825

 

 

Downstream

 

 

 

 

 

 

 

United States

30

226

 

2,268

770

 

 

Non-U.S.

395

924

 

2,191

2,797

 

 

Chemical

 

 

 

 

 

 

 

United States

383

522

 

2,215

2,422

 

 

Non-U.S.

160

545

 

2,168

2,491

 

 

Corporate and financing

(397)

(447)

 

(2,221)

(2,117)

 

 

Net income attributable to ExxonMobil

9,400

9,250

 

41,060

30,460

 

 

Special Items

 

 

 

 

 

 

 

Upstream

 

 

 

 

 

 

 

United States

0

0

 

0

0

 

 

Non-U.S.

0

0

 

0

0

 

 

Downstream

 

 

 

 

 

 

 

United States

0

0

 

0

0

 

 

Non-U.S.

0

0

 

0

0

 

 

Chemical

 

 

 

 

 

 

 

United States

0

0

 

0

0

 

 

Non-U.S.

0

0

 

0

0

 

 

Corporate and financing

0

0

 

0

0

 

 

Corporate total

0

0

 

0

0

 

 

Earnings Excluding Special Items

 

 

 

 

 

 

 

Upstream

 

 

 

 

 

 

 

United States

1,184

1,317

 

5,096

4,272

 

 

Non-U.S.

7,645

6,163

 

29,343

19,825

 

 

Downstream

 

 

 

 

 

 

 

United States

30

226

 

2,268

770

 

 

Non-U.S.

395

924

 

2,191

2,797

 

 

Chemical

 

 

 

 

 

 

 

United States

383

522

 

2,215

2,422

 

 

Non-U.S.

160

545

 

2,168

2,491

 

 

Corporate and financing

 (397)

(447)

 

(2,221)

(2,117)

 

 

Corporate total

9,400

9,250

 

41,060

30,460

 

 

Cash flow from operations and asset sales (billions of dollars)

 

 

 

 

Net cash provided by operating activities
(U.S. GAAP)

10.7

13.0

 

55.4

48.4

 

 

Proceeds associated with asset sales

6.9

1.7

 

11.1

3.3

 

 

Cash flow from operations and asset sales

17.6

14.7

 

66.5

51.7

 




-10-



 

Attachment III 

 

 

 

 

 

 

 

 

 

 

 

EXXON MOBIL CORPORATION

 

 

FOURTH QUARTER 2011

 

 

 

 

 

 

 

 

 

 

 

Fourth Quarter

 

Twelve Months

 

 

 

2011

2010

 

2011

2010

 

 

Net production of crude oil

 

 

 

 

 

 

 

and natural gas liquids,

 

 

 

 

 

 

 

thousands of barrels daily (kbd)

 

 

 

 

 

 

 

  United States

432

455

 

423

408

 

 

  Canada/South America

247

266

 

252

263

 

 

  Europe

257

335

 

270

335

 

 

  Africa

468

618

 

508

628

 

 

  Asia

800

800

 

808

730

 

 

  Australia/Oceania

46

52

 

51

58

 

 

Worldwide

2,250

2,526

 

2,312

2,422

 

 

 

 

 

 

 

 

 

 

Natural gas production available for sale,

 

 

 

 

 

 

 

millions of cubic feet daily (mcfd)

 

 

 

 

 

 

 

  United States

4,005

3,869

 

3,917

2,596

 

 

  Canada/South America

400

564

 

412

569

 

 

  Europe

3,866

4,596

 

3,448

3,836

 

 

  Africa

8

9

 

7

14

 

 

  Asia

5,103

5,350

 

5,047

4,801

 

 

  Australia/Oceania

295

264

 

331

332

 

 

Worldwide

13,677

14,652

 

13,162

12,148

 

 

 

 

 

 

 

 

 

 

Oil-equivalent production (koebd) 1

4,530

4,968

 

4,506

4,447

 

 

 

 

 

 

 

 

 

 

1 Gas converted to oil-equivalent at 6 million cubic feet = 1 thousand barrels

 

 

 

 

 



-11-




 

Attachment IV

 

 

 

 

 

 

 

 

 

 

 

EXXON MOBIL CORPORATION

 

 

FOURTH QUARTER 2011

 

 

 

 

 

 

 

 

 

 

Fourth Quarter

 

Twelve Months

 

 

 

2011

2010

 

2011

2010

 

 

Refinery throughput (kbd)

 

 

 

 

 

 

 

United States

1,839

1,732

 

1,784

1,753

 

 

Canada

433

467

 

430

444

 

 

Europe

1,526

1,501

 

1,528

1,538

 

 

Asia Pacific

1,157

1,307

 

1,180

1,249

 

 

Other

295

291

 

292

269

 

 

Worldwide

5,250

5,298

 

5,214

5,253

 

 

 

 

 

 

 

 

 

 

Petroleum product sales (kbd)

 

 

 

 

 

 

 

United States

2,579

2,581

 

2,530

2,511

 

 

Canada

463

475

 

455

450

 

 

Europe

1,592

1,576

 

1,596

1,611

 

 

Asia Pacific

1,221

1,277

 

1,204

1,241

 

 

Other

638

646

 

628

601

 

 

Worldwide

6,493

6,555

 

6,413

6,414

 

 

 

 

 

 

 

 

 

 

Gasolines, naphthas

2,626

2,615

 

2,541

2,611

 

 

Heating oils, kerosene, diesel

2,080

2,106

 

2,019

1,951

 

 

Aviation fuels

492

472

 

492

476

 

 

Heavy fuels

568

602

 

588

603

 

 

Specialty products

727

760

 

773

773

 

 

Worldwide

6,493

6,555

 

6,413

6,414

 

 

 

 

 

 

 

 

 

 

Chemical prime product sales,

 

 

 

 

 

 

 

thousands of metric tons (kt)

 

 

 

 

 

 

 

United States

2,392

2,214

 

9,250

9,815

 

 

Non-U.S.

3,879

4,135

 

15,756

16,076

 

 

Worldwide

6,271

6,349

 

25,006

25,891

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 




-12-



 

Attachment V

 

 

 

 

 

 

 

 

 

 

 

EXXON MOBIL CORPORATION

 

 

FOURTH QUARTER 2011

 

 

(millions of dollars)

 

 

 

 

 

 

 

 

 

 

Fourth Quarter

 

Twelve Months

 

 

 

2011

2010

 

2011

2010

 

 

Capital and Exploration Expenditures

 

 

 

 

 

 

 

Upstream

 

 

 

 

 

 

 

United States

2,414

2,453

 

10,741

6,349

 

 

Non-U.S.

6,589

6,346

 

22,350

20,970

 

 

Total

9,003

8,799

 

33,091

27,319

 

 

Downstream

 

 

 

 

 

 

 

United States

152

170

 

518

982

 

 

Non-U.S.

493

519

 

1,602

1,523

 

 

Total

645

689

 

2,120

2,505

 

 

Chemical

 

 

 

 

 

 

 

United States

93

83

 

290

279

 

 

Non-U.S.

235

435

 

1,160

1,936

 

 

Total

328

518

 

1,450

2,215

 

 

 

 

 

 

 

 

 

 

Other

43

55

 

105

187

 

 

 

 

 

 

 

 

 

 

Worldwide

10,019

10,061

 

36,766

32,226

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exploration expenses charged to income

 

 

 

 

 

 

 

included above

 

 

 

 

 

 

 

Consolidated affiliates

 

 

 

 

 

 

 

United States

88

121

 

268

283

 

 

Non-U.S.

332

427

 

1,802

1,855

 

 

Equity companies - ExxonMobil share

 

 

 

 

 

 

 

United States

3

1

 

10

4

 

 

Non-U.S.

9

9

 

13

21

 

 

Worldwide

432

558

 

2,093

2,163

 

 

 

 

 

 

 

 

 




-13-



 

Attachment VI

 

 

 

 

 

 

 

 

 

EXXON MOBIL CORPORATION

 

EARNINGS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$ Millions

$ Per Common Share 1

 

 

 

 

 

 

 

2007

 

 

 

 

 

First Quarter

9,280

 

1.63

 

 

Second Quarter

10,260

 

1.83

 

 

Third Quarter

9,410

 

1.71

 

 

Fourth Quarter

11,660

 

2.14

 

 

Year

40,610

 

7.31

 

 

 

 

 

 

 

 

2008

 

 

 

 

 

First Quarter

10,890

 

2.03

 

 

Second Quarter

11,680

 

2.24

 

 

Third Quarter

14,830

 

2.86

 

 

Fourth Quarter

7,820

 

1.55

 

 

Year

45,220

 

8.70

 

 

 

 

 

 

 

 

2009

 

 

 

 

 

First Quarter

4,550

 

0.92

 

 

Second Quarter

3,950

 

0.82

 

 

Third Quarter

4,730

 

0.98

 

 

Fourth Quarter

6,050

 

1.27

 

 

Year

19,280

 

3.99

 

 

 

 

 

 

 

 

2010

 

 

 

 

 

First Quarter

6,300

 

1.33

 

 

Second Quarter

7,560

 

1.61

 

 

Third Quarter

7,350

 

1.44

 

 

Fourth Quarter

9,250

 

1.86

 

 

Year

30,460

 

6.24

 

 

 

 

 

 

 

 

2011

 

 

 

 

 

First Quarter

10,650

 

2.14

 

 

Second Quarter

10,680

 

2.19

 

 

Third Quarter

10,330

 

2.13

 

 

Fourth Quarter

9,400

 

1.97

 

 

Year

41,060

 

8.43

 

 

 

 

 

 

 

 

1 Computed using the average number of shares outstanding during each period.

 

 

  The sum of the four quarters may not add to the full year.

 

 

 

 







-14-




EXHIBIT 99.2

EXXON MOBIL CORPORATION

 

 

 

 

 

 

4Q11 INVESTOR RELATIONS DATA SUMMARY (PAGE 1 of 4)

 

Earnings, $M

4Q11

3Q11

2Q11

1Q11

4Q10

Upstream

  United States

1,184 

1,184 

1,449 

1,279 

1,317 

  Non-U.S.

7,645 

7,210 

7,092 

7,396 

6,163 

  Total

8,829 

8,394 

8,541 

8,675 

7,480 

Downstream

  United States

30 

810 

734 

694 

226 

  Non-U.S.

395 

769 

622 

405 

924 

  Total

425 

1,579 

1,356 

1,099 

1,150 

Chemical

  United States

383 

538 

625 

669 

522 

  Non-U.S.

160 

465 

696 

847 

545 

  Total

543 

1,003 

1,321 

1,516 

1,067 

 

 

 

 

 

 

Corporate and financing

(397)

(646)

(538)

(640)

(447)

Net income attributable to ExxonMobil (U.S. GAAP)

9,400 

10,330 

10,680 

10,650 

9,250 

Earnings per common share (U.S. GAAP)

1.97 

2.13 

2.19 

2.14 

1.86 

Earnings per common share

 - assuming dilution (U.S. GAAP)

1.97 

2.13 

2.18 

2.14 

1.85 

 

 

 

 

 

 

Special Items, $M

Upstream

  United States

  Non-U.S.

  Total

Downstream

  United States

  Non-U.S.

  Total

Chemical

  United States

  Non-U.S.

  Total

 

 

 

 

 

 

Corporate and financing

Corporate total

 

Earnings Excluding Special Items, $M

Upstream

  United States

1,184 

1,184 

1,449 

1,279 

1,317 

  Non-U.S.

7,645 

7,210 

7,092 

7,396 

6,163 

  Total

8,829 

8,394 

8,541 

8,675 

7,480 

Downstream

 

 

 

 

 

  United States

30 

810 

734 

694 

226 

  Non-U.S.

395 

769 

622 

405 

924 

  Total

425 

1,579 

1,356 

1,099 

1,150 

Chemical

  United States

383 

538 

625 

669 

522 

  Non-U.S.

160 

465 

696 

847 

545 

  Total

543 

1,003 

1,321 

1,516 

1,067 

 

 

 

 

 

 

Corporate and financing

(397)

(646)

(538)

(640)

(447)

Corporate total

9,400 

10,330 

10,680 

10,650 

9,250 

EPS excluding Special Items - assuming dilution

1.97 

2.13 

2.18 

2.14 

1.85 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXXON MOBIL CORPORATION

 

 

 

 

 

 

4Q11 INVESTOR RELATIONS DATA SUMMARY (PAGE 2 of 4)

 

Supplemental Information (continued)

 

 

 

 

 

 

Net production of crude oil and

4Q11

3Q11

2Q11

1Q11

4Q10

natural gas liquids, kbd

  United States

432 

405 

429 

428 

455 

  Canada/South America

247 

256 

240 

262 

266 

  Europe

257 

247 

273 

306 

335 

  Africa

468 

481 

522 

561 

618 

  Asia

800 

806 

834 

792 

800 

  Australia/Oceania

46 

54 

53 

50 

52 

Total liquids production

2,250 

2,249 

2,351 

2,399 

2,526 

 

 

 

 

 

 

 

 

 

 

 

 

Natural gas production available for sale, mcfd

  United States

4,005 

3,917 

3,842 

3,904 

3,869 

  Canada/South America

400 

381 

397 

468 

564 

  Europe

3,866 

2,471 

2,694 

4,783 

4,596 

  Africa

  Asia

5,103 

5,036 

4,961 

5,089 

5,350 

  Australia/Oceania

295 

387 

365 

275 

264 

Total natural gas production available for sale

13,677 

12,197 

12,267 

14,525 

14,652 

 

 

 

 

 

 

 

 

 

 

 

 

Total worldwide liquids and gas production, koebd

4,530 

4,282 

4,396 

4,820 

4,968 

 

 

 

 

 

 

Refinery throughput, kbd

  United States

1,839 

1,743 

1,783 

1,771 

1,732 

  Canada

433 

436 

397 

452 

467 

  Europe

1,526 

1,535 

1,602 

1,446 

1,501 

  Asia Pacific

1,157 

1,231 

1,109 

1,223 

1,307 

  Other Non-U.S.

295 

287 

302 

288 

291 

Total refinery throughput

5,250 

5,232 

5,193 

5,180 

5,298 

 

 

 

 

 

 

Petroleum product sales, kbd

  United States

2,579 

2,577 

2,488 

2,475 

2,581 

  Canada

463 

469 

441 

447 

475 

  Europe

1,592 

1,623 

1,634 

1,533 

1,576 

  Asia Pacific

1,221 

1,237 

1,140 

1,218 

1,277 

  Other Non-U.S.

638 

652 

628 

594 

646 

Total petroleum product sales

6,493 

6,558 

6,331 

6,267 

6,555 

 

 

 

 

 

 

  Gasolines, naphthas

2,626 

2,568 

2,498 

2,470 

2,615 

  Heating oils, kerosene, diesel

2,080 

2,013 

1,949 

2,034 

2,106 

  Aviation fuels

492 

532 

481 

464 

472 

  Heavy fuels

568 

628 

601 

555 

602 

  Specialty products

727 

817 

802 

744 

760 

Total petroleum product sales

6,493 

6,558 

6,331 

6,267 

6,555 

 

 

 

 

 

 

Chemical prime product sales, kt

  United States

 2,392 

 2,280 

 2,303 

 2,275 

 2,214 

  Non-U.S.

3,879 

3,952 

3,878 

4,047 

4,135 

Total chemical prime product sales

 6,271 

 6,232 

 6,181 

 6,322 

 6,349 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXXON MOBIL CORPORATION

 

 

 

 

 

 

4Q11 INVESTOR RELATIONS DATA SUMMARY (PAGE 3 of 4)

 

Supplemental Information (continued)

 

 

 

 

 

 

Average Realization Data

4Q11

3Q11

2Q11

1Q11

4Q10

United States

  ExxonMobil

    Crude ($/b)

102.63

95.58

105.27

92.55

80.89

    Natural Gas ($/kcf)

3.44

4.14

4.20

3.99

3.70

 

 

 

 

 

 

  Benchmarks

    WTI ($/b)

94.07

89.70

102.44

93.98

85.06

    ANS-WC ($/b)

110.36

111.74

115.41

102.53

85.82

    Henry Hub ($/mbtu)

3.54

4.20

4.32

4.11

3.80

 

 

 

 

 

 

Non-U.S.

  ExxonMobil

    Crude ($/b)

106.10

107.32

112.05

100.75

83.53

    Natural Gas ($/kcf)

9.18

8.28

8.31

8.17

7.24

    European NG ($/kcf)

10.18

9.47

9.80

9.19

8.23

 

 

 

 

 

 

  Benchmarks

    Brent ($/b)

109.31

113.46

117.36

104.97

86.48

 

 

 

 

 

 

Capital and Exploration Expenditures, $M

Upstream

  United States

 2,414 

 2,172 

 4,075 

 2,080 

 2,453 

  Non-U.S.

6,589 

5,580 

5,361 

4,820 

6,346 

  Total

 9,003 

 7,752 

 9,436 

 6,900 

 8,799 

Downstream

  United States

 152 

 135 

 114 

 117 

 170 

  Non-U.S.

493 

406 

370 

333 

519 

  Total

 645 

 541 

 484 

 450 

 689 

Chemical

  United States

 93 

 76 

 65 

 56 

 83 

  Non-U.S.

235 

245 

287 

393 

435 

  Total

 328 

 321 

 352 

 449 

 518 

Other

 43 

 6 

 34 

 22 

 55 

 

 

 

 

 

 

Total Capital and Exploration Expenditures

 10,019 

 8,620 

 10,306 

 7,821 

 10,061 

 

 

 

 

 

 

Exploration Expense Charged to Income, $M

  Consolidated - United States

88 

68 

49 

63 

121 

                        - Non-U.S.

332 

657 

543 

270 

427 

  Non-consolidated - ExxonMobil share - United States

                                                               - Non-U.S.

Exploration Expenses Charged to Income Included Above

432 

728 

598 

335 

558 

 

 

 

 

 

 

Effective Income Tax Rate, %

47%

47%

45%

47%

43%

 

 

 

 

 

 

Common Shares Outstanding (millions)

  At quarter end

 4,734 

 4,793 

 4,862 

 4,926 

 4,979 

  Average - assuming dilution

 4,775 

 4,843 

 4,912 

 4,971 

 5,031 

 

 

 

 

 

 

Total Cash, Cash Equivalent and Marketable Securities ($G)1

13.1 

11.3 

10.3 

13.2 

8.5 

 

 

 

 

 

 

Total Debt ($G)

17.0 

16.8 

16.5 

15.9 

15.0 

 

 

 

 

 

 

Cash Flow from Operations and Asset Sales ($G)

  Net cash provided by operating activities

 10.7 

 14.9 

 12.9 

 16.9 

 13.0 

  Proceeds associated with asset sales

6.9 

1.4 

1.5 

1.3 

1.7 

  Cash flow from operations and asset sales

 17.6 

 16.3 

 14.4 

 18.2 

 14.7 

 

 

 

 

 

 

The above numbers reflect ExxonMobil's current estimate of volumes and realizations given data available as of the end of

the fourth quarter of 2011.  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.

1 Includes restricted cash of $0.4G in 4Q11, $0.2G in 3Q11, $0.2G in 2Q11, $0.4G in 1Q11 and $0.6G in 4Q10

 

 

 

 

 

 

 

 

 

 

 

 

EXXON MOBIL CORPORATION

 

 

 

 

 

 

 

 

 

4Q11 INVESTOR RELATIONS DATA SUMMARY (PAGE 4 of 4)

 

 

Earnings Factor Analysis, $M

4Q11  vs. 4Q10

4Q11  vs. 3Q11

2011  vs.   2010

 

 

Upstream

  Prior Period

7,480

8,394

24,097

 

 

    Realization

1,990

190

10,650

 

 

    Volume/Mix

-1,450

50

-2,520

 

 

    Other

810

190

2,210

 

 

  Current Period

8,829

8,829

34,439

 

 

Downstream

  Prior Period

1,150

1,579

3,567

 

 

    Margin

-740

-1,570

800

 

 

    Volume/Mix

-30

60

630

 

 

    Other

40

360

-540

 

 

  Current Period

425

425

4,459

 

 

Chemical

  Prior Period

1,067

1,003

4,913

 

 

    Margin

-230

-390

260

 

 

    Volume/Mix

-40

10

-180

 

 

    Other

-250

-80

-610

 

 

  Current Period

543

543

4,383

 

 

 

 

 

 

 

 

Upstream Volume Factor Analysis, KOEBD

  Prior Period

4,968

4,282

4,447

 

 

    Entitlements

-200

31

-124

 

 

    Quotas

28

0

32

 

 

    Divestments

-52

-17

-43

 

 

    Net Growth

-214

234

194

 

 

  Current Period

4,530

4,530

4,506

 

 

 

 

 

 

 

 

Sources and Uses of Funds ($G)

4Q11

2011

 

 

 

Beginning Cash / Marketable Securities

11.3

8.5

 

 

 

Earnings

9.4

41.1

 

 

 

Depreciation

4.1

15.6

 

 

 

Working Capital / Other

-2.8

-1.3

 

 

 

Proceeds Associated with Asset Sales

6.9

11.1

 

 

 

Additions to PP&E

-8.6

-31.0

 

 

 

Shareholder Distributions

-7.2

-29.0

 

 

 

Additional Financing / Investing

0.0

-1.9

 

 

 

Ending Cash / Marketable Securities

13.1

13.1

 

 

 

 

 

 

 

 

 

Notes:

Earnings exclude special items, if applicable.

The 4Q11 beginning and ending balances include restricted cash of $0.2G and $0.4G, respectively.

The 2011 beginning and ending balances include restricted cash of $0.6G and $0.4G, respectively.

The 4Q11 ending balance includes cash on deposit for potential asset sales.