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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): July 30, 2021
 
Exxon Mobil Corporation
(Exact name of registrant as specified in its charter)
 
New Jersey1-225613-5409005
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(IRS Employer
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) 940-6000
 
 
(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))
Securities registered pursuant to Section 12(b) of the Act:
  Name of Each Exchange
Title of Each ClassTrading Symbolon Which Registered
Common Stock, without par valueXOMNew York Stock Exchange
0.142% Notes due 2024XOM24BNew York Stock Exchange
0.524% Notes due 2028XOM28New York Stock Exchange
0.835% Notes due 2032XOM32New York Stock Exchange
1.408% Notes due 2039XOM39ANew York Stock Exchange
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02Results of Operations and Financial Condition
Item 7.01Regulation 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 30, 2021, announcing second quarter 2021 results, a copy of which is included as Exhibit 99.1, and furnishes the information in the related 2Q21 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.

2

INDEX TO EXHIBITS
 
 
 
Exhibit No.Description
  
Exxon Mobil Corporation News Release, dated July 30, 2021, announcing second quarter 2021 results.
  
2Q21 Investor Relations Data Summary.
  
104Cover Page Interactive Data File (formatted as Inline XBRL).
  
3

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: July 30, 2021
By:/s/ LEN M. FOX
  Len M. Fox
  Vice President and Controller
  (Principal Accounting Officer)
4
Document

EXHIBIT 99.1
News Release
  https://cdn.kscope.io/1baadbe359131894ab424c628f9577b5-f8k991001x0x0.gif
 Exxon Mobil Corporation
 5959 Las Colinas Boulevard
 Irving, TX 75039
 972 940 6007 Telephone
 972 940 6143 Facsimile
FOR IMMEDIATE RELEASE
FRIDAY, JULY 30, 2021


ExxonMobil Earns $4.7 Billion in Second Quarter 2021

•Earnings increased $5.8 billion over the second quarter of 2020, driven by oil and natural gas demand and best-ever quarterly chemical and lubricants contributions
•Cash flow from operating activities of $9.7 billion funded the dividend, capital investments and debt reduction
•Low Carbon Solutions business advanced multiple CCS opportunities and low-emission fuels initiatives
•Portfolio improvement activities included signing an agreement for the $1.15 billion fourth-quarter sale of the SantopreneTM chemical business, affirmative funding decision for the Bacalhau development in Brazil, and additional exploration success in Guyana


First
Second QuarterQuarterFirst Half
20212020202120212020
Results Summary   
(Dollars in millions, except per share data)
Earnings/(Loss) (U.S. GAAP)4,690(1,080)2,7307,420(1,690)
Earnings/(Loss) Per Common Share
Assuming Dilution1.10(0.26)0.641.74(0.40)
Identified Items Per Common Share
Assuming Dilution—0.44(0.01)(0.01)(0.23)
Earnings/(Loss) Excluding Identified Items
Per Common Share Assuming Dilution 1.10(0.70)0.651.75(0.17)
Capital and Exploration Expenditures3,8035,3273,1336,93612,470

IRVING, Texas – July 30, 2021 – Exxon Mobil Corporation today announced estimated second-quarter 2021 earnings of $4.7 billion, or $1.10 per share assuming dilution, compared with a loss of $1.1 billion in the second quarter of 2020. Second-quarter capital and exploration expenditures were $3.8 billion, bringing the first half of 2021 to $6.9 billion, which is consistent with planned lower activity in the first half of the year. The company anticipates higher second-half planned spending on key projects, including Guyana, Brazil, Permian and in Chemical, with full-year spending towards the lower end of the guidance range of $16 billion to $19 billion.

Oil-equivalent production in the second quarter was 3.6 million barrels per day, down 2% from the second quarter of 2020, driven by increased maintenance activity. Excluding entitlement effects, divestments, and government mandates, oil-equivalent production increased 3%, including growth in the Permian and Guyana.





“Positive momentum continued during the second quarter across all of our businesses as the global economic recovery increased demand for our products,” said Darren Woods, chairman and chief executive officer.

“We’re realizing significant benefits from an improved cost structure, solid operating performance and low-cost-of-supply investments that, together, are generating attractive returns and strong cash flow to fund our capital program, pay the dividend and reduce debt. This was particularly true for our Chemical business that delivered their best quarter in company history. In our efforts to support society's energy transition goals, our Low Carbon Solutions business made progress in identifying new opportunities and in establishing new partnerships in carbon capture and storage, hydrogen and low-emission fuels.”

Second-Quarter Business Highlights

Upstream
•Average realizations for crude oil increased 13% from the first quarter. Natural gas realizations increased 1% from the prior quarter.

•Liquid volumes decreased 3% from the first quarter, driven by increased planned maintenance activity. Natural gas volumes decreased 10%, driven by lower seasonal demand.

•During the quarter, production volumes in the Permian averaged 400,000 oil-equivalent barrels per day, an increase of 34% from the second quarter of 2020. The focus remains on continuing to grow positive free cash flow by lowering overall development costs and increasing recovery through efficiency gains and technology applications.

Downstream
•Industry fuels margins improved from the first quarter, but remain on the low end of the historical range, due to ongoing impacts from market oversupply. Lubricants delivered strong performance, underpinned by lower operating expenses and improved margins.

•Overall refining throughput was up 3% from the first quarter, when a winter storm in Texas disrupted operations. The company continued to manage refinery operations in line with fuel demand and integrated chemical manufacturing needs.

Chemical 
•Strong base operations supported best-ever quarterly earnings of $2.3 billion, reflecting reliable operations, higher margins and continued cost discipline.

•Industry margins improved in the quarter on higher product prices, reflecting continued strong demand and regional supply constraints. North America's regional ethane feed advantage grew.

2

Strengthening the Portfolio
•ExxonMobil signed an agreement with Celanese for the sale of its global Santoprene™ chemical business for $1.15 billion, subject to working capital and other adjustments. The sale advances strategic business objectives and includes two manufacturing sites in the United States and United Kingdom. The transaction is expected to close in the fourth quarter of 2021, subject to standard conditions precedent including regulatory approvals.

•ExxonMobil continued to progress its major deepwater developments in Guyana, including the announcement of new discoveries at Uaru-2, Longtail-3, and Whiptail, which increase confidence in the quality and size of the resource and supports the potential for 7 to 10 floating production, storage and offloading (FPSO) facilities in the Stabroek block. Exploration, appraisal, and development drilling continues, with a total of six drillships now operating offshore Guyana. The company's high-return developments remain on schedule, with Liza Phase 2 on target for 2022 startup, Payara on schedule for 2024 startup and Yellowtail targeted for 2025 startup.

•The company continues to make progress on previously announced terminal conversions in Slagen, Norway and Altona, Australia, ensuring ongoing, reliable supply of fuels to these markets through the company's advantaged logistics. The Slagen refinery was safely shutdown in May, while Altona is scheduled to cease refining operations in August.

•The grass roots chemical plant project, located near Corpus Christi, Texas, recently reached mechanical completion of a monoethylene glycol unit and two polyethylene units. The project, which will produce chemicals used in medical, automotive and packaging products, is expected to start up in the fourth quarter of 2021, ahead of schedule and under budget.

Capital Allocation and Structural Cost Improvement
•ExxonMobil’s 2021 capital program is expected to be at the lower end of the previously communicated range of $16 billion to $19 billion. Capital expenditures totaled approximately $7 billion through the first half of the year. The company’s capital allocation priorities continue to be investing in advantaged projects, strengthening the balance sheet and paying a reliable dividend.

•In addition to reducing structural costs by $3 billion in 2020, the company has captured over $1 billion in further structural savings in the first half of 2021. The company remains on pace to achieve through 2023 total structural cost reductions of $6 billion relative to 2019. Efforts to identify further structural savings resulting from the reorganizations completed in 2019 continue.

Reducing Emissions and Advancing Low Carbon Solutions
•In July, the company signed memorandums of understanding to participate in a major carbon capture and storage (CCS) project in Scotland and to explore the development of CO2 infrastructure in France. The Acorn CCS project in Scotland plans to capture and store approximately 5 million to 6 million metric tons of CO2 per year by 2030. The collaboration in the Normandy region of France seeks to develop CCS technology with the objective of reducing CO2 emissions by up to 3 million metric tons per year by 2030.

•During the quarter, ExxonMobil expanded its previous agreement with Global Clean Energy to purchase up to 5 million barrels of renewable diesel with commercial production expected to begin in 2022. The agreement is part of the company’s efforts to advance multiple options to produce low-emission biofuels, including new projects, facility upgrades, and purchase agreements. The company expects to produce more than 40,000 barrels per day of biofuels by 2025.




3

Results and Volume Summary
Millions of Dollars2Q2Q  
(unless noted)20212020ChangeComments
Upstream    
U.S.663(1,197)+1,860
Higher prices and volumes, reduced expenses
Non-U.S.2,522(454)+2,976Higher prices, increased volumes, and favorable one-time tax items, partly offset by higher planned maintenance; prior quarter favorable identified items (-168, inventory valuation)
Total3,185(1,651)+4,836Prices +4,570, volumes +290, expenses +90, planned maintenance -300, identified items -210, other +400
Production (koebd)3,5823,638-56
Liquids -106 kbd: higher demand, including the absence of economic curtailments, and project growth, more than offset by lower entitlements, decline, higher planned maintenance, and divestments

Gas +304 mcfd: higher demand, including the absence of economic curtailments, partly offset by higher planned maintenance and divestments
Downstream   
U.S.(149)(101)-48
Higher margins driven by stronger industry refining conditions, improved demand, and lower non-maintenance expenses, more than offset by higher planned maintenance activity and absence of prior quarter favorable identified items (-404, inventory valuation)
Non-U.S.(78)1,077-1,155
Higher demand and improved margins reflecting stronger industry refining conditions, more than offset by higher planned maintenance activity and unfavorable foreign exchange;
prior quarter favorable identified items
(-1,190, inventory valuation)
Total(227)976-1,203
Margins +430, demand +270, identified items -1,590, planned maintenance -390, other +70

Petroleum Product Sales (kbd)5,0414,437+604
Chemical   
U.S.1,282171+1,111Higher margins and stronger demand
Non-U.S.1,038296+742Higher margins, stronger demand, favorable foreign exchange, and reduced expenses, partly offset by planned maintenance; prior quarter favorable identified item
(-144, inventory valuation)
Total2,320467+1,853Margins +1,680, demand +250, expenses +100, planned maintenance -160,
identified items -120, other +100
Prime Product Sales (kt)6,5135,945+568
Corporate and financing(588)(872)+284Lower financing costs and net favorable tax impacts
4

Results and Volume Summary
Millions of Dollars2Q1Q  
(unless noted)20212021ChangeComments
Upstream    
U.S.663363+300
Higher liquids prices, higher liquids volumes, and favorable one-time items
Non-U.S.2,5222,191+331Higher liquids prices, higher liquids volumes,
and favorable one-time items, partly offset by
higher planned maintenance and seasonally lower gas volumes
Total3,1852,554+631Prices +680, planned maintenance -360,
other +310
Production (koebd)3,5823,787-205
Liquids -58 kbd: lower entitlements and higher planned maintenance, partly offset by improved reliability and winter storm recovery

Gas -879 mcfd: lower seasonal demand, lower entitlements, and higher planned maintenance, partly offset by winter storm recovery
Downstream   
U.S.(149)(113)-36Winter storm recovery and improved demand, more than offset by higher planned maintenance activity
Non-U.S.(78)(277)+199Higher margins driven by more favorable industry refining conditions and improved demand, partly offset by higher planned maintenance activity
Total(227)(390)+163Margins +190, demand +70, planned maintenance -220, other +120
Petroleum Product Sales (kbd)5,0414,881+160
Chemical   
U.S.1,282715+567Stronger margins
Non-U.S.1,038700+338
Stronger margins, partly offset by planned maintenance
Total2,3201,415+905Margins +1,080, planned maintenance -180
Prime Product Sales (kt)6,5136,446+67
Corporate and financing(588)(849)+261Lower retirement-related expenses and lower financing costs

5

Results and Volume Summary
Millions of DollarsYTDYTD
(unless noted)20212020ChangeComments
Upstream
U.S.1,026(1,901)+2,927Higher prices and reduced expenses; prior year unfavorable identified items (+315, impairment)
Non-U.S.4,713786+3,927Higher prices and favorable one-time tax items, partly offset by higher planned maintenance and unfavorable foreign exchange
Total5,739(1,115)+6,854Prices +6,130, expenses +480, identified items +410, planned maintenance -330, other +170
Production (koebd)3,6843,842-158
Liquids -164 kbd: higher demand including the absence of economic curtailments, and project growth, more than offset by lower entitlements, increased government mandates, decline and higher planned maintenance

Gas +38 mcfd: higher demand, including the absence of economic curtailments, partly offset by higher planned maintenance, Groningen production limit, and divestments
Downstream
U.S.(262)(202)-60
Lower margins on weaker industry refining conditions, and increased planned maintenance activity, partly offset by reduced expenses and improved demand
Non-U.S.(355)567-922
Lower margins on weaker realized fuels margins, net unfavorable one-time items including terminal conversion costs, increased planned maintenance activity, and unfavorable foreign exchange impacts, partly offset by reduced expenses and improved demand; prior year unfavorable identified items
(+341, mainly impairments)
Total(617)365-982Margins -1,340, demand +260, planned maintenance -350, expenses +490, identified items +350, other -390
Petroleum Product Sales (kbd)4,9614,862+99
Chemical
U.S.1,997459+1,538Higher margins, improved demand, and lower expenses; prior year unfavorable identified items (+119, mainly impairments)
Non-U.S.1,738152+1,586Higher margins and demand, lower expenses, and favorable foreign exchange, partly offset by planned maintenance
Total3,735611+3,124Margins +2,300, demand +290, expenses +250, planned maintenance -80, identified items +210, other +150
Prime Product Sales (kt)12,95912,182+777
Corporate and financing(1,437)(1,551)+114Lower financing costs and net favorable tax impacts, partly offset by higher retirement-related expenses
6

 Cash Flow from Operations and Asset Sales excluding Working Capital
 Millions of Dollars2Q 
  2021Comments
 Net income (loss) including noncontrolling interests4,781Including $91 million noncontrolling interests
 Depreciation4,952
 Changes in operational working capital(380)
 Other297
 Cash Flow from Operating9,650 
 Activities (U.S. GAAP)  
 Asset sales250
 Cash Flow from Operations9,900 
 and Asset Sales  
 Changes in operational working capital380 
 Cash Flow from Operations10,280 
 and Asset Sales excluding Working Capital  

 Millions of DollarsYTD 
  2021Comments
 Net income (loss) including noncontrolling interests7,577Including $157 million noncontrolling interests
 Depreciation9,956
 Changes in operational working capital1,573Higher net payables due to market conditions
 Other(192)
 Cash Flow from Operating18,914 
 Activities (U.S. GAAP)  
 Asset sales557 
 Cash Flow from Operations19,471 
 and Asset Sales  
 Changes in operational working capital(1,573) 
 Cash Flow from Operations17,898 
 and Asset Sales excluding Working Capital  



7

ExxonMobil will discuss financial and operating results and other matters during a webcast at 8:30 a.m. Central Time on July 30, 2021. 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; total capital expenditures and mix; cost reductions, including the ability to meet or exceed announced cash cost and expense reduction objectives; plans to reduce future emissions intensity and the expected resulting absolute emission reductions; CO2 volumes captured and stored; biofuel production; cash flow, dividends and shareholder returns; business and project plans, timing, costs, capacities, and returns; and resource recoveries and production rates 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 for our products; actions of competitors and commercial counterparties; the ability to access short- and long-term debt markets on a timely and affordable basis; the ultimate impacts of COVID-19, including the extent and nature of further outbreaks and the effects of government responses on people and economies; reservoir performance; the outcome of exploration projects; timely completion of development and other construction projects; changes in law, taxes, or regulation including environmental regulations, trade sanctions, and timely granting of governmental permits; government policies and support and market demand for low carbon technologies like carbon capture; war, and other political or security disturbances; opportunities for potential investments or divestments and satisfaction of applicable conditions to closing, including regulatory approvals; 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 and unplanned maintenance; the development and competitiveness of alternative energy and emission reduction technologies; the results of research programs and the ability to bring new technologies to commercial scale on a cost-competitive basis; and other factors discussed under Item 1A. Risk Factors of ExxonMobil’s 2020 Form 10-K.

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 2021 periods is shown on page 7 and for 2021 and 2020 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 2021 periods is shown on page 7 and for 2021 and 2020 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 periods or 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 2021 and 2020 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.

8

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 operating expenses", “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.

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.




9

Estimated Key Financial and Operating Data
Attachment I
Exxon Mobil Corporation
Second Quarter 2021
(millions of dollars, unless noted)
 First
 Second QuarterQuarterFirst Half
 20212020202120212020
Earnings (Loss) / Earnings (Loss) Per Share   
Total revenues and other income67,74232,60559,147126,88988,763
Total costs and other deductions61,43534,24555,555116,99090,661
Income (loss) before income taxes6,307(1,640)3,5929,899(1,898)
Income taxes1,526(471)7962,32241
Net income (loss) including noncontrolling interests4,781(1,169)2,7967,577(1,939)
Net income (loss) attributable to noncontrolling interests91(89)66157(249)
Net income (loss) attributable to ExxonMobil (U.S. GAAP)4,690(1,080)2,7307,420(1,690)
Earnings (loss) per common share (dollars)1.10(0.26)0.641.74(0.40)
Earnings (loss) per common share  
- assuming dilution (dollars)1.10(0.26)0.641.74(0.40)
Exploration expenses, including dry holes176214164340502
Other Financial Data  
Dividends on common stock    
Total3,7213,7153,7207,4417,434
Per common share (dollars)0.870.870.871.741.74
Millions of common shares outstanding  
At period end4,2344,228
Average - assuming dilution4,2764,2714,2724,2744,270
ExxonMobil share of equity at period end158,571180,183
ExxonMobil share of capital employed at period end221,275251,998
Income taxes1,526(471)7962,32241
Total other taxes and duties8,4415,6837,28315,72413,180
Total taxes9,9675,2128,07918,04613,221
Sales-based taxes5,4483,1294,66210,1107,614
Total taxes including sales-based taxes15,4158,34112,74128,15620,835
ExxonMobil share of income taxes of  
equity companies525(18)6001,125442

10


Attachment II-a
Exxon Mobil Corporation
Second Quarter 2021
 First
$ MillionsSecond QuarterQuarterFirst Half
 20212020202120212020
Earnings/(Loss) (U.S. GAAP)4,690(1,080)2,7307,420(1,690)
Identified Items Included in Earnings/(Loss)   
Noncash inventory valuation - lower of cost or market—1,922——(174)
Impairments————(787)
Other items (severance - global workforce review)(12)—(31)(43)—
Corporate total(12)1,922(31)(43)(961)
Earnings/(Loss) Excluding Identified Items4,702(3,002)2,7617,463(729)
$ Per Common Share1
   
Earnings/(Loss) Per Common Share   
Assuming Dilution (U.S. GAAP)1.10(0.26)0.641.74(0.40)
   
Identified Items Included in Earnings/(Loss)
Per Common Share Assuming Dilution   
Noncash inventory valuation - lower of cost or market—0.44——(0.05)
Impairments————(0.18)
Other items (severance - global workforce review)——(0.01)(0.01)—
Corporate total—0.44(0.01)(0.01)(0.23)
   
Earnings/(Loss) Excluding Identified Items
Per Common Share Assuming Dilution1.10(0.70)0.651.75(0.17)
1 Computed using the average number of shares outstanding during each period.
 
11

Attachment II-b
Exxon Mobil Corporation
Second Quarter 2021
(millions of dollars)
First
Second QuarterQuarterFirst Half
20212020202120212020
Earnings/(Loss) (U.S. GAAP)   
Upstream   
United States663(1,197)3631,026(1,901)
Non-U.S.2,522(454)2,1914,713786
Downstream
United States(149)(101)(113)(262)(202)
Non-U.S.(78)1,077(277)(355)567
Chemical
United States1,2821717151,997459
Non-U.S.1,0382967001,738152
Corporate and financing(588)(872)(849)(1,437)(1,551)
Net income (loss) attributable to ExxonMobil4,690(1,080)2,7307,420(1,690)
Identified Items Included in Earnings/(Loss)   
U.S. Upstream   
Impairments————(315)
Other Items (Inventory valuation)—45———
Non-U.S. Upstream   
Impairments————(41)
Other Items (Inventory valuation)—168——(50)
U.S. Downstream   
Impairments————(4)
Other Items (Inventory valuation)—404——(3)
Non-U.S. Downstream   
Impairments————(335)
Other Items (Inventory valuation)—1,190——(6)
U.S. Chemical   
Impairments————(90)
Other Items (Inventory valuation)—(29)——(29)
Non-U.S. Chemical   
Impairments————(2)
Other Items (Inventory valuation)—144——(86)
Corporate and financing   
Severance - global workforce review(12)—(31)(43)—
Corporate total(12)1,922(31)(43)(961)
Earnings/(Loss) Excluding Identified Items   
Upstream   
United States663(1,242)3631,026(1,586)
Non-U.S.2,522(622)2,1914,713877
Downstream   
United States(149)(505)(113)(262)(195)
Non-U.S.(78)(113)(277)(355)908
Chemical   
United States1,2822007151,997578
Non-U.S.1,0381527001,738240
Corporate and financing(576)(872)(818)(1,394)(1,551)
Corporate total4,702(3,002)2,7617,463(729)
12

Attachment III
Exxon Mobil Corporation
Second Quarter 2021
 First
 Second QuarterQuarterFirst Half
 20212020202120212020
Net production of crude oil, natural gas   
liquids, bitumen and synthetic oil,   
thousand barrels per day (kbd)   
United States687628665676664
Canada / Other Americas529483575552520
Europe1631352531
Africa254333253254346
Asia669783691680789
Australia / Oceania4548394243
Worldwide2,2002,3062,2582,2292,393
Natural gas production available for sale,   
million cubic feet per day (mcfd)   
United States2,8042,6422,7672,7862,733
Canada / Other Americas189269216203293
Europe6546191,4031,026956
Africa46424356
Asia3,4333,2183,5993,5153,464
Australia / Oceania1,1681,2381,1641,1661,241
Worldwide8,2947,9909,1738,7318,693
Oil-equivalent production (koebd)1
3,5823,6383,7873,6843,842
1 Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.
 
13

Attachment IV
Exxon Mobil Corporation
Second Quarter 2021
 First
 Second QuarterQuarterFirst Half
 20212020202120212020
Refinery throughput (kbd)   
United States1,5321,4401,5321,5321,499
Canada332278364348330
Europe1,2231,0851,1531,1881,190
Asia Pacific607568545576603
Other164145157161166
Worldwide3,8583,5163,7513,8053,788
Petroleum product sales (kbd) 
United States2,2181,9592,0772,1482,095
Canada421353409415405
Europe1,2971,1301,2721,2851,266
Asia Pacific655640665660674
Other450355458453422
Worldwide5,0414,4374,8814,9614,862
Gasolines, naphthas2,1171,7361,9962,0571,929
Heating oils, kerosene, diesel1,7041,6491,6921,6981,758
Aviation fuels201147183192265
Heavy fuels275262257266259
Specialty products744643753748651
Worldwide5,0414,4374,8814,9614,862
Chemical prime product sales,  
thousand metric tons (kt)  
United States2,4911,9852,1904,6814,180
Non-U.S.4,0223,9604,2568,2788,002
Worldwide6,5135,9456,44612,95912,182

14

Attachment V
Exxon Mobil Corporation
Second Quarter 2021
(millions of dollars)
 First
 Second QuarterQuarterFirst Half
 20212020202120212020
Capital and Exploration Expenditures   
Upstream   
United States9251,6378101,7354,435
Non-U.S.1,8921,9401,5473,4394,268
Total2,8173,5772,3575,1748,703
Downstream 
United States1937192714641,466
Non-U.S.262334199461821
Total4551,0534709252,287
Chemical 
United States3135632085211,160
Non-U.S.21713298315317
Total5306953068361,477
Other12—13
Worldwide3,8035,3273,1336,93612,470
Cash Flow from Operations and Asset Sales excluding Working Capital
Net cash provided by operating activities 
(U.S. GAAP)9,650—9,26418,9146,274
Proceeds associated with asset sales25043307557129
Cash flow from operations and asset sales9,900439,57119,4716,403
Changes in operational working capital3801,460(1,953)(1,573)2,402
Cash flow from operations and asset sales10,2801,5037,61817,8988,805
excluding working capital   
15

Attachment VI
Exxon Mobil Corporation
Earnings/(Loss)
 $ Millions
$ Per Common Share1
2017  
First Quarter4,010 0.95
Second Quarter3,350 0.78
Third Quarter3,970 0.93
Fourth Quarter8,380 1.97
Year19,710 4.63
2018  
First Quarter4,650 1.09
Second Quarter3,950 0.92
Third Quarter6,240 1.46
Fourth Quarter6,000 1.41
Year20,840 4.88
2019  
First Quarter2,350 0.55
Second Quarter3,130 0.73
Third Quarter3,170 0.75
Fourth Quarter5,690 1.33
Year14,340 3.36
2020  
First Quarter(610)(0.14)
Second Quarter(1,080)(0.26)
Third Quarter(680)(0.15)
Fourth Quarter(20,070)(4.70)
Year(22,440)(5.25)
2021  
First Quarter2,730 0.64
Second Quarter4,690 1.10
1 Computed using the average number of shares outstanding during each period.
16
Document


EXXON MOBIL CORPORATIONEXHIBIT 99.2
To assist investors in assessing 2Q21 results, the following disclosures have been made available in this 8-K filing:
-Identified items of $(0.00) 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
2Q21 INVESTOR RELATIONS DATA SUMMARY (PAGE 1 of 4)
Earnings (Loss), $M2Q211Q214Q203Q202Q20
Upstream     
 United States663363(16,803)(681)(1,197)
 Non-U.S.2,5222,191(1,729)298(454)
 Total3,1852,554(18,532)(383)(1,651)
Downstream
 United States(149)(113)(514)(136)(101)
 Non-U.S.(78)(277)(697)(95)1,077
 Total(227)(390)(1,211)(231)976
Chemical
 United States1,282715461357171
 Non-U.S.1,038700230304296
 Total2,3201,415691661467
Corporate and financing(588)(849)(1,018)(727)(872)
Net income (loss) attributable to ExxonMobil (U.S. GAAP)4,6902,730(20,070)(680)(1,080)
Earnings (Loss) per common share (U.S. GAAP)  1.100.64(4.70)(0.15)(0.26)
Earnings (Loss) per common share
- assuming dilution (U.S. GAAP)1.100.64(4.70)(0.15)(0.26)
Exploration expenses, including dry holes176164595188214
Capital and Exploration Expenditures, $M     
Upstream     
 United States9258101,1221,2601,637
 Non-U.S.1,8921,5471,8121,5341,940
 Total2,8172,3572,9342,7943,577
Downstream     
 United States193271488390719
 Non-U.S.262199674382334
 Total4554701,1627721,053
Chemical     
 United States313208435407563
 Non-U.S.21798240157132
 Total530306675564695
Other1——32
Total Capital and Exploration Expenditures3,8033,1334,7714,1335,327
Effective Income Tax Rate, %30%33%22%(198)%29%
Common Shares Outstanding, millions     
 At quarter end4,2344,2344,2334,2284,228
 Average - assuming dilution4,2764,2724,2724,2714,271
Total Cash and Cash Equivalents, $B3.53.54.48.812.6
Total Debt, $B60.663.367.668.869.5
Cash Flow from Operations and Asset Sales, $M     
 Net cash provided by operating activities9,6509,2644,0054,389—
 Proceeds associated with asset sales25030777010043
 Cash flow from operations and asset sales9,9009,5714,7754,48943
 Changes in operational working capital380(1,953)114(863)1,460
 
Cash flow from operations and asset sales excluding working capital
10,2807,6184,8893,6261,503



EXXON MOBIL CORPORATION
2Q21 INVESTOR RELATIONS DATA SUMMARY (PAGE 2 of 4)
Net production of crude oil, natural gas2Q211Q214Q203Q202Q20
liquids, bitumen and synthetic oil, kbd     
 United States687665719692628
 Canada / Other Americas529575619487483
 Europe1635322631
 Africa254253258297333
 Asia669691658735783
 Australia / Oceania4539394948
Total liquids production2,2002,2582,3252,2862,306
Natural gas production available for sale, mcfd     
 United States2,8042,7672,6862,6112,642
 Canada / Other Americas189216253269269
 Europe6541,403848401619
 Africa462412114
 Asia3,4333,5993,2253,7913,218
 Australia / Oceania1,1681,1641,1611,2331,238
Total natural gas production available for sale8,2949,1738,1858,3167,990
Total worldwide liquids and gas production, koebd 1
3,5823,7873,6893,6723,638
Refinery throughput, kbd     
 United States1,5321,5321,5941,6011,440
 Canada332364359341278
 Europe1,2231,1531,1301,1831,085
 Asia Pacific607545522486568
 Other Non-U.S.164157150148145
Total refinery throughput3,8583,7513,7553,7593,516
Petroleum product sales, kbd     
 United States2,2182,0772,1282,2971,959
 Canada421409415446353
 Europe1,2971,2721,2271,2531,130
 Asia Pacific655665645614640
 Other Non-U.S.450458418413355
Total petroleum product sales5,0414,8814,8335,0234,437
 Gasolines, naphthas2,1171,9962,0392,0771,736
 Heating oils, kerosene, diesel1,7041,6921,7391,7501,649
 Aviation fuels201183172152147
 Heavy fuels275257237242262
 Specialty products744753646802643
Total petroleum product sales5,0414,8814,8335,0234,437
Chemical prime product sales, kt     
 United States2,4912,1902,4672,3631,985
 Non-U.S.4,0224,2564,1764,2613,960
Total chemical prime product sales6,5136,4466,6436,6245,945


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



EXXON MOBIL CORPORATION
2Q21 INVESTOR RELATIONS DATA SUMMARY (PAGE 3 of 4)
Earnings Factor Analysis, $M
2Q21 vs. 2Q20
2Q21 vs. 1Q21
2021 vs. 2020
Upstream  
Prior Period(1,651)2,554(1,115)
Realization4,3207205,610
Noncash effect of year-end reserves-25040-520
Other4,5706806,130
Volume / Mix40-330-320
Planned Maintenance-250-320-320
Other290-10—
Other4702501,560
Expenses - Planned Maintenance-50-40-10
Expenses - other330-601,000
Identified Items-210—410
Other400350160
Current Period3,1853,1855,739
Downstream  
Prior Period976(390)365
Margin430190-1,340
Volume / Mix220-5030
Planned Maintenance-200-160-210
Demand27070260
Other - Manufacturing15040-20
Other-1,86020330
Expenses - Planned Maintenance-190-60-140
Expenses - other130-110490
Identified Items-1,590—350
Other-210190-370
Current Period(227)(227)(617)
Chemical  
Prior Period4671,415611
Margin1,6801,0802,300
Volume / Mix210-40240
Planned Maintenance-40-40-50
Demand250—290
Other-40-140580
Expenses - Planned Maintenance-120-140-30
Expenses - other100-20250
Identified Items-120—210
Other10020150
Current Period2,3202,3203,735
Upstream Volume Factor Analysis, koebd  
Prior Period3,6383,7873,842
Downtime / Maintenance - Planned-113-110-93
Downtime / Maintenance - other248519
Growth / Decline-60-18-58
Entitlements / Divestments-166-64-115
Government Mandates-6-2-65
Demand / Other265-96154
Current Period3,5823,5823,684


EXXON MOBIL CORPORATION
2Q21 INVESTOR RELATIONS DATA SUMMARY (PAGE 4 of 4)
Sources and Uses of Funds, $M2Q21    
Beginning Cash3,515    
Earnings4,690    
Depreciation4,952    
Working Capital / Other8    
Proceeds Associated with Asset Sales250    
PP&E Adds / Investments and Advances1
-2,966    
Shareholder Distributions-3,721    
Debt / Other Financing-3,263    
Ending Cash3,465   

1 PP&E Adds / Investments and Advances includes PP&E adds of ($2.7B) and net advances of ($0.2B).
Average Realization Data2Q211Q214Q203Q202Q20
United States     
ExxonMobil     
Crude ($/b)63.2956.2039.0636.8021.79
Natural Gas ($/kcf)2.783.362.201.621.57
Benchmarks     
WTI ($/b)66.0957.8442.5640.9127.80
ANS-WC ($/b)68.5160.7644.7542.7430.06
Henry Hub ($/mbtu)2.832.712.671.981.71
Non-U.S.     
ExxonMobil     
Crude ($/b)60.5253.4137.8638.3020.91
Natural Gas ($/kcf)6.766.134.853.414.07
European NG ($/kcf)6.765.874.873.252.67
Benchmarks     
Brent ($/b)68.8360.9044.2243.0029.20


The above numbers reflect ExxonMobil’s current estimate of volumes and realizations given data available as of the end of the second quarter of 2021. 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.