Washington, D.C. 20549 
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 1, 2022
Exxon Mobil Corporation
(Exact name of registrant as specified in its charter)
New Jersey1-225613-5409005
(State or other jurisdiction
of incorporation)
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 February 1, 2022, announcing fourth quarter 2021 results, a copy of which is included as Exhibit 99.1, and furnishes the information in the related 4Q21 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
Exxon Mobil Corporation News Release, dated February 1, 2022, announcing fourth quarter 2021 results.
4Q21 Investor Relations Data Summary.
104Cover Page Interactive Data File (formatted as Inline XBRL).

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.
Date: February 1, 2022
By:/s/ LEN M. FOX
  Len M. Fox
  Vice President and Controller
  (Principal Accounting Officer)

News Release
 Exxon Mobil Corporation
 5959 Las Colinas Boulevard
 Irving, TX 75039
 972 940 6007 Telephone
 972 940 6143 Facsimile

ExxonMobil Earns $23 Billion in 2021, Initiates $10 Billion Share Repurchase Program

Generates $48 billion of cash flow from operating activities, the highest level since 2012, more than covering capital investments, debt reduction, and dividend
Reduces structural costs by an additional $1.9 billion, increasing total savings to nearly $5 billion versus 2019
Strengthens balance sheet to pre-pandemic levels by paying down $20 billion in debt
Expects to achieve 2025 emission-reduction plans four years ahead of schedule
Aims to achieve net-zero Scope 1 and 2 greenhouse gas emissions for operated assets by 2050, with plans to achieve net-zero in the Permian Basin by 2030

Fourth QuarterQuarterTwelve Months
Results Summary   
(Dollars in millions, except per share data)
Earnings/(Loss) (U.S. GAAP)8,870(20,070)6,75023,040(22,440)
Earnings/(Loss) Per Common Share
Assuming Dilution2.08(4.70)1.575.39(5.25)
Identified Items Per Common Share
Assuming Dilution0.03(4.73)(0.01)0.01(4.92)
Earnings/(Loss) Excluding Identified Items
Per Common Share Assuming Dilution
Capital and Exploration Expenditures5,8084,7713,85116,59521,374

IRVING, Texas – February 1, 2022 – Exxon Mobil Corporation today announced fourth-quarter 2021 earnings of $8.9 billion, or $2.08 per share assuming dilution, resulting in full-year earnings of $23 billion, or $5.39 per share assuming dilution. Capital and exploration expenditures were $5.8 billion in the fourth quarter and $16.6 billion for the full year 2021, in line with guidance.

“Our effective pandemic response, focused investments during the down-cycle, and structural cost savings positioned us to realize the full benefits of the market recovery in 2021,” said Darren Woods, chairman and chief executive officer. “Our new streamlined business structure is another example of the actions we are taking to further strengthen our competitive advantages and grow shareholder value. We've made great progress in 2021 and our forward plans position us to lead in cash flow and earnings growth, operating performance, and the energy transition.”

Fourth-Quarter and Full-Year Business Highlights

Average realizations for crude oil increased 8% from the third quarter. Natural gas realizations increased 63% from the prior quarter.
Oil-equivalent production in the fourth quarter was 3.8 million barrels per day. Excluding entitlement effects, divestments, and government mandates, oil-equivalent production increased 2% versus the prior-year quarter, and was also up 2% versus the prior year, driven by demand recovery.
In 2021, production volumes in the Permian increased nearly 100,000 oil-equivalent barrels per day, with improved capital efficiency. The focus remains on continuing to grow free cash flow by increasing recovery through efficiency gains and technology applications.
ExxonMobil continued to progress its low cost of supply deepwater developments in Guyana, with estimated recoverable resources increasing to approximately 10 billion oil-equivalent barrels, supported by six commercial discoveries in 2021. The Liza Unity floating production, storage, and offloading vessel arrived in Guyanese waters in October 2021.
The sale of certain United Kingdom North Sea assets to Neo Energy was completed in December 2021.

Global refining margins improved from the third quarter with increased transportation demand driven by easing mobility restrictions, partly offset by higher energy prices in Europe. Fourth-quarter margins improved to the low end of the 10-year range, although jet demand remains challenged.
Refining throughput in the quarter was the highest since 2013, up 2% from the third quarter, allowing the company to capture the benefit of improved industry margins.
Lubricants earnings were a full-year record, as strong reliability performance enabled full capture of robust basestocks margins.
The company acquired a 49.9% stake in BioJet AS, a Norwegian biofuels company that plans to convert forestry and wood-based construction waste into lower-emissions advanced biofuels, providing ExxonMobil the opportunity to purchase as much as 3 million barrels of lower-emission biofuel products per year.

Fourth-quarter industry margins declined from historically high levels to the middle of the 10-year range due to increased industry supply and higher feed and energy costs.
Annual earnings of $7.8 billion were a full-year record, reflecting robust industry demand, strong reliability, structural cost reductions, and the company's global supply and logistics advantages.
High-value, performance products grew 7% and the organization advanced key projects supporting future growth. The Corpus Christi Chemical Complex started up ahead of schedule and under budget, and a final investment decision was reached to proceed with a chemical complex in the Dayawan Petrochemical Industrial Park in Huizhou, Guangdong Province in China.
ExxonMobil announced the acquisition of Materia, Inc., a technology company that pioneered the development of a Nobel prize-winning technology for manufacturing high-performance structural polymers. The innovative materials can be used in a number of applications, including wind turbine blades, electric vehicle parts, sustainable construction, and anticorrosive coatings.
The company made its first commercial sale of certified circular polymer from recycled plastic, manufactured in Baytown, Texas, using proprietary advanced recycling technology. The advanced recycling operation in

Baytown will be among the largest in North America with initial planned capacity to recycle 30,000 metric tons of plastic waste per year.
ExxonMobil completed the sale of its global Santoprene™ business to Celanese in December for a total price of $1.15 billion.

Leading the Drive to Net Zero
The company expects to meet its 2025 emission-reduction plans four years ahead of schedule. This includes a 15-20% reduction in greenhouse gas intensity of upstream operations; a 40-50% reduction in methane intensity; and a 35-45% reduction in flaring intensity across the corporation versus 2016.
In the fourth quarter, the company announced new emission-reduction plans through 2030, which include plans to achieve Scope 1 and 2 net-zero greenhouse gas emissions by 2030 in the Permian Basin, and are consistent with Paris-aligned pathways, the U.S. and European Union's Global Methane Pledge, and the U.S. Methane Emissions Reduction Action Plan. The company plans to invest $15 billion in lower-emission solutions to both reduce its Scope 1 and 2 greenhouse gas emissions and support customers in decarbonizing, with a focus on carbon capture and storage, hydrogen and biofuels.
In January, ExxonMobil announced its ambition to achieve net-zero emissions from operated assets by 2050, backed by a comprehensive approach to develop detailed emission-reduction roadmaps for major operated assets. This ambition applies to Scope 1 and 2 greenhouse gas emissions, and builds on the company’s 2030 emission-reduction plans. The Company’s roadmap approach identifies greenhouse gas emission-reduction opportunities for individual operated assets and the investment and future policy needs required to achieve net-zero.
ExxonMobil and Scepter, Inc. agreed to work together to deploy advanced satellite technology and proprietary data processing platforms to detect methane emissions at a global scale. Initially focused on Permian Basin operations, the agreement has the potential to redefine methane detection and mitigation efforts and could contribute to broader satellite-based emission-reduction efforts across a dozen global industries, including energy, agriculture, manufacturing and transportation.
Since establishing the Low Carbon Solutions business in early 2021, ExxonMobil announced progress on 10 carbon capture and storage opportunities. The initiatives are in Houston, Texas; LaBarge, Wyoming; Edmonton, Canada; St. Fergus, U.K.; Southampton, U.K.; Fife, U.K.; Normandy, France; Malaysia; Indonesia; and Russia. These are in addition to previously announced projects in Qatar; Antwerp, Belgium; Rotterdam, Netherlands; and Australia.

Capital Allocation and Structural Cost Improvement
In the fourth quarter, the company paid down debt by an additional $9 billion, bringing the full-year reduction to $20 billion, strengthening the balance sheet and returning debt to pre-pandemic levels.
The company captured an additional $1.9 billion in structural savings in 2021, increasing total savings to roughly $5 billion relative to 2019. The company is on pace to exceed total annual structural cost reductions of $6 billion by 2023. Building on this work, the company recently announced additional efforts to streamline its business structure to enhance effectiveness, grow value, and reduce costs. These changes will more fully leverage global functional capabilities, improve line of site to markets, and enhance resource allocation to the highest corporate priorities.
During the fourth quarter, ExxonMobil’s board of directors approved the company’s corporate plan for 2022, with capital spending anticipated to be in the range of $21 billion to $24 billion.
Beginning in the first quarter of 2022, the company initiated share repurchases associated with the previously announced buyback program of up to $10 billion over the next 12 to 24 months.


Earnings and Volume Summary
Millions of Dollars4Q4Q  
(unless noted)20212020ChangeComments
Higher prices; identified items (+16,514; impairments)
Higher prices; identified items (+2,220; impairments +1,714, asset sale +459, tax items +297, contractual provisions -250)

Price +5,880, volume/mix -170, expenses -140, other +320, identified items +18,730

Production (koebd)3,8163,689+127
Liquids +60 kbd: lower government mandates and net growth, partly offset by lower entitlements and divestments

Gas +399 mcfd: less downtime and higher entitlements, partly offset by divestments
Higher margins driven by stronger industry refining conditions, favorable LIFO inventory impact, and reduced expenses, partly offset by lower volumes

Higher margins reflecting stronger industry refining conditions, higher volumes, and reduced expenses, partly offset by unfavorable LIFO inventory impact; identified items (+520; impairments +258, tax items +262)
Margin +2,060, volume +60, expenses +150, other -110, identified items +520

Petroleum Product Sales (kbd)5,3914,833+558
Higher margins partly offset by increased expenses on higher turnaround, maintenance and project activity; identified items (+494; asset sale)
Higher margins, favorable LIFO inventory impact, and lower expenses; identified items (+158; mainly asset sale)
Margin +580, expenses -90, volume -10, other +100, identified items +650
Prime Product Sales (kt)6,7016,643+58
Corporate and financing(603)(1,018)+415
Identified items +345 (mainly prior year severance)

Earnings and Volume Summary
Millions of Dollars4Q3Q  
(unless noted)20212021ChangeComments
Higher prices and favorable unsettled derivative impacts; identified items (-263; impairments)
Higher prices, favorable unsettled derivative impacts, higher gas demand, and favorable one-time asset management items, partly offset by seasonally higher expenses; identified items (-280; impairments -489, asset sale +459, contractual provisions -250)
Total6,0853,951+2,134Price +2,230, volume +290, expenses -320, other +470, identified items -540
Production (koebd)3,8163,665+151
Liquids +72 kbd: primarily lower government mandates

Gas +474 mcfd: seasonally higher demand and entitlement impacts
U.S.913663+250Higher marketing-driven margins, higher volumes, and favorable one-time items, partly offset by seasonally higher expenses

Favorable unsettled derivative impacts more than offset by unfavorable one-time items and seasonally higher expenses

Margin +490, volume +80, expenses -250, other -110

Petroleum Product Sales (kbd)5,3915,327+64
Lower margins and higher maintenance, turnaround and project expenses; identified items (+494; asset sale)
Lower margins, seasonally higher expenses, and unfavorable foreign exchange; identified items (+136; asset sale)
Margin -680, expenses -110, volume -30, other -30, identified items +630

Prime Product Sales (kt)6,7016,672+29
Corporate and financing(603)(596)-7

Earnings and Volume Summary
Millions of DollarsFull YearFull Year
(unless noted)20212020ChangeComments
Higher prices, reduced expenses, and increased liquids volumes; identified items (+16,829; impairments)
Higher prices and favorable one-time tax items, partly offset by lower liquids volumes driven by entitlement effects; identified items (+2,322; impairments +1,755, asset sale +459, tax +297, inventory valuation +61, contractual provisions -250)
Price +15,930, volume -340, expenses +390, other +680, identified items +19,150
Production (koebd)3,7123,761-49
Liquids -60 kbd: higher demand reflecting the absence of economic curtailments, and growth, more than offset by lower entitlements, decline and divestments

Gas +66 mcfd: higher demand, partly offset by divestments and Groningen production limit
Higher margins driven by improved industry refining conditions and reduced expenses
Reduced expenses and higher volumes, partly offset by unfavorable foreign exchange and LIFO impacts; identified items (+855; impairments +593, tax items +262)
Margin +1,920, volume +100, expenses +560, other -260, identified items +860
Petroleum Product Sales (kbd)5,1624,895+267
Higher margins and increased volumes; identified items (+584; mainly asset sale)
Higher margins, favorable foreign exchange, and reduced expenses; identified items (+160; mainly asset sale)
Margin +4,480, volume +250, expenses +80, other +280, identified items +740
Prime Product Sales (kt)26,33225,449+883
Corporate and financing(2,636)(3,296)+660
Identified items +297 (mainly prior year severance), lower financing costs +191

 Cash Flow from Operations and Asset Sales excluding Working Capital
 Millions of Dollars4QFull Year 
 Net income (loss) including noncontrolling interests9,07923,598Including noncontrolling interests of $209 million in the quarter and $558 million for the full year
 Changes in operational working capital1,9304,162
 Cash Flow from Operating17,12448,129 
 Activities (U.S. GAAP)  
 Asset sales2,6013,176
 Cash Flow from Operations19,72551,305 
 and Asset Sales  
 Changes in operational working capital(1,930)(4,162) 
 Cash Flow from Operations17,79547,143 
 and Asset Sales excluding Working Capital  


ExxonMobil will discuss financial and operating results and other matters during a webcast at 8:30 a.m. Central Time on February 1, 2022. To listen to the event or access an archived replay, please visit www.exxonmobil.com.

Cautionary Statement

Outlooks, projections, descriptions of strategic, operating, and financial plans and objectives, statements of future ambitions and goals, and other statements of future events or conditions in this release, are forward-looking statements. Similarly, the emission-reduction roadmaps are dependent on future market factors, such as continued technological progress and policy support, and represent forward-looking statements. Actual future results, including financial and operating performance; total capital expenditures and mix, including allocations of capital to low carbon solutions; cost reductions and efficiency gains, including the ability to meet or exceed announced cost and expense reduction objectives; plans to reduce future emissions and emissions intensity; timing and outcome of projects to capture and store CO2; timing and outcome of biofuel and plastic waste recycling projects; cash flow, dividends and shareholder returns, including the timing and amounts of share repurchases; future debt levels and credit ratings; business and project plans, timing, costs, capacities and returns; achievement of ambitions to reach Scope 1 and Scope 2 net zero from operated assets by 2050; achievement of plans to reach Scope 1 and 2 net zero in Upstream Permian Basin operated assets by 2030; 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 outcome of commercial negotiations, including final agreed terms and conditions; 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; final management approval of future projects and any changes in the scope, terms, or costs of such projects as approved; changes in law, taxes, or regulation including environmental regulations, trade sanctions, and timely granting of governmental permits and certifications; government policies and support and market demand for low carbon technologies; 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; 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. Management uses these figures to improve comparability of the underlying business across multiple periods by isolating and removing significant non-operational events from business results. The Corporation believes this view provides investors increased transparency into business results and trends and provides investors with a view of the business as seen through the eyes of management. Earnings excluding Identified Items is not meant to be viewed in isolation or as a substitute for net income (loss) attributable to ExxonMobil as prepared in accordance with U.S. GAAP. 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.

This press release also references free cash flow. Free cash flow is the sum of net cash provided by operating activities and net cash flow used in investing activities. This measure is useful when evaluating cash available for financing activities, including shareholder distributions, after investment in the business. Free cash flow is not meant to be viewed in isolation or as a substitute for net cash provided by operating activities.

This press release also references structural cost reductions (also "structural cost savings", "structural savings", "structural cost improvement"). Structural cost reductions describe decreases in the below expenses as a result of operational efficiencies, workforce reductions and other cost saving measures that are expected to be sustainable compared to 2019 levels. Relative to 2019, estimated cumulative annual structural cost reductions totaled $4.9 billion, of which $1.9 billion was achieved in 2021. The total change between periods in expenses below will reflect both structural cost reductions and other changes in spend, including market factors, such as energy costs, inflation, and foreign exchange impacts, as well as changes in activity levels and costs associated with new operations. Structural cost reductions are stewarded internally to support management’s oversight of spending over time. This measure is useful for investors to understand the Corporation’s efforts to optimize spending through disciplined expense management.

Millions of Dollars202120202019
Subset of total Costs and other deductions
Production and manufacturing expenses36,03530,43136,826
Selling, general and administrative expenses9,57410,16811,398
Exploration expenses, including dry holes1,0541,2851,269

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. A reconciliation of production excluding divestments, entitlements, and government mandates to actual production is contained in the Supplement to this release included as Exhibit 99.2 to the Form 8-K of even date herewith. 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.

ExxonMobil reported emissions, including reductions and avoidance performance data, are based on a combination of measured and estimated data. Calculations are based on industry standards and best practices, including guidance from the American Petroleum Institute (API) and IPIECA. The uncertainty associated with the emissions, reductions and avoidance performance data depends on variation in the processes and operations, the availability of sufficient data, the quality of those data and methodology used for measurement and estimation. Changes to the performance data may be reported as updated data and/or emission methodologies become available. ExxonMobil works with industry, including API and IPIECA, to improve emission factors and methodologies, including measurements and estimates.

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. ExxonMobil's ambitions, plans and goals do not guarantee any action or future performance by its affiliates or Exxon Mobil Corporation's responsibility for those affiliates' actions and future performance, each affiliate of which manages its own affairs.

Estimated Key Financial and Operating Data
Attachment I
Exxon Mobil Corporation
Fourth Quarter 2021
(millions of dollars, unless noted)
 Fourth QuarterQuarterTwelve Months
Earnings (Loss) / Earnings (Loss) Per Share   
Total revenues and other income84,96546,54073,786285,640181,502
Total costs and other deductions73,23673,15364,180254,406210,385
Income (loss) before income taxes11,729(26,613)9,60631,234(28,883)
Income taxes2,650(6,010)2,6647,636(5,632)
Net income (loss) including noncontrolling interests9,079(20,603)6,94223,598(23,251)
Net income (loss) attributable to noncontrolling interests209(533)192558(811)
Net income (loss) attributable to ExxonMobil (U.S. GAAP)8,870(20,070)6,75023,040(22,440)
Earnings (loss) per common share (dollars)2.08(4.70)1.575.39(5.25)
Earnings (loss) per common share  
- assuming dilution (dollars)2.08(4.70)1.575.39(5.25)
Exploration expenses, including dry holes5245951901,0541,285
Other Financial Data  
Dividends on common stock    
Per common share (dollars)0.880.870.873.493.48
Millions of common shares outstanding  
At period end4,2394,233
Average - assuming dilution4,2754,2724,2764,2754,271
ExxonMobil share of equity at period end168,577157,150
ExxonMobil share of capital employed at period end218,642227,137
Income taxes2,650(6,010)2,6647,636(5,632)
Total other taxes and duties8,6597,3448,57232,95528,425
Total taxes11,3091,33411,23640,59122,793
Sales-based taxes5,9874,3645,77521,87216,281
Total taxes including sales-based taxes17,2965,69817,01162,46339,074
ExxonMobil share of income taxes of  
equity companies9182857132,756861


Attachment II-a
Exxon Mobil Corporation
Fourth Quarter 2021
$ MillionsFourth QuarterQuarterTwelve Months
Earnings/(Loss) (U.S. GAAP)8,870(20,070)6,75023,040(22,440)
Identified Items Included in Earnings/(Loss)   
Tax items(581)(581)
Asset sales1,0811,081
Noncash inventory valuation - lower of cost or market(61)
Contractual provisions(250)(250)
Other items (severance - global workforce review)(4)(326)(5)(52)(326)
Corporate total75(20,180)(5)27(21,028)
Earnings/(Loss) Excluding Identified Items8,7951106,75523,013(1,412)
$ Per Common Share1
Earnings/(Loss) Per Common Share   
Assuming Dilution (U.S. GAAP)2.08(4.70)1.575.39(5.25)
Identified Items Included in Earnings/(Loss)
Per Common Share Assuming Dilution   
Tax items(0.14)(0.13)
Asset sales0.260.26
Noncash inventory valuation - lower of cost or market(0.02)
Contractual provisions(0.06)(0.06)
Other items (severance - global workforce review)(0.08)(0.01)(0.02)(0.08)
Corporate total0.03(4.73)(0.01)0.01(4.92)
Earnings/(Loss) Excluding Identified Items
Per Common Share Assuming Dilution2.050.031.585.38(0.33)
1 Computed using the average number of shares outstanding during each period.

Attachment II-b
Exxon Mobil Corporation
Fourth Quarter 2021
(millions of dollars)
Fourth QuarterQuarterTwelve Months
Earnings/(Loss) (U.S. GAAP)   
United States1,768(16,803)8693,663(19,385)
United States913(514)6631,314(852)
United States1,3224611,1834,5021,277
Corporate and financing(603)(1,018)(596)(2,636)(3,296)
Net income (loss) attributable to ExxonMobil8,870(20,070)6,75023,040(22,440)
Identified Items Included in Earnings/(Loss)   
U.S. Upstream   
Non-U.S. Upstream   
Tax Items(297)(297)
Asset sales459459
Contractual provisions(250)(250)
Inventory valuation(61)
U.S. Downstream   
Other items (asset sales, impairments)44(4)
Non-U.S. Downstream   
Tax Items(262)(262)
U.S. Chemical   
Asset sales494494
Non-U.S. Chemical   
Asset sales136136
Other Items (tax items, impairments)(22)(24)
Corporate and financing   
Severance - global workforce review(4)(326)(5)(52)(326)
Other Items (asset sales, impairments)(12)(35)(12)(35)
Corporate total75(20,180)(5)27(21,028)
Earnings/(Loss) Excluding Identified Items   
United States2,031(26)8693,926(2,293)
United States909(514)6631,310(848)
United States8284611,1834,0081,367
Corporate and financing(587)(657)(591)(2,572)(2,935)
Corporate total8,7951106,75523,013(1,412)

Attachment III
Exxon Mobil Corporation
Fourth Quarter 2021
 Fourth QuarterQuarterTwelve Months
Net production of crude oil, natural gas   
liquids, bitumen and synthetic oil,   
thousand barrels per day (kbd)   
United States770719758721685
Canada / Other Americas571619569560536
Australia / Oceania4039494344
Natural gas production available for sale,   
million cubic feet per day (mcfd)   
United States2,7132,6862,7012,7462,691
Canada / Other Americas189253184195277
Australia / Oceania1,3221,1611,4641,2801,219
Oil-equivalent production (koebd)1
1 Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.

Attachment IV
Exxon Mobil Corporation
Fourth Quarter 2021
 Fourth QuarterQuarterTwelve Months
Refinery throughput (kbd)   
United States1,7401,5941,6841,6231,549
Asia Pacific546522585571553
Petroleum product sales (kbd) 
United States2,3832,1282,3462,2572,154
Asia Pacific643645648653651
Gasolines, naphthas2,3252,0392,1912,1581,994
Heating oils, kerosene, diesel1,8041,7391,7961,7491,751
Aviation fuels267172228220213
Heavy fuels265237276269249
Specialty products730646836766688
Chemical prime product sales,  
thousand metric tons (kt)  
United States2,5122,4672,5319,7249,010


Attachment V
Exxon Mobil Corporation
Fourth Quarter 2021
(millions of dollars)
 Fourth QuarterQuarterTwelve Months
Capital and Exploration Expenditures   
United States1,3071,1229764,0186,817
United States3374881991,0002,344
United States4614353851,3672,002
Cash Flow from Operations and Asset Sales excluding Working Capital
Net cash provided by operating activities 
(U.S. GAAP)17,1244,00512,09148,12914,668
Proceeds associated with asset sales2,601770183,176999
Cash flow from operations and asset sales19,7254,77512,10951,30515,667
Changes in operational working capital(1,930)114(659)(4,162)1,653
Cash flow from operations and asset sales17,7954,88911,45047,14317,320
excluding working capital   

Attachment VI
Exxon Mobil Corporation
 $ Millions
$ Per Common Share1
First Quarter4,010 0.95
Second Quarter3,350 0.78
Third Quarter3,970 0.93
Fourth Quarter8,380 1.97
Year19,710 4.63
First Quarter4,650 1.09
Second Quarter3,950 0.92
Third Quarter6,240 1.46
Fourth Quarter6,000 1.41
Year20,840 4.88
First Quarter2,350 0.55
Second Quarter3,130 0.73
Third Quarter3,170 0.75
Fourth Quarter5,690 1.33
Year14,340 3.36
First Quarter(610)(0.14)
Second Quarter(1,080)(0.26)
Third Quarter(680)(0.15)
Fourth Quarter(20,070)(4.70)
First Quarter2,730 0.64
Second Quarter4,690 1.10
Third Quarter6,750 1.57
Fourth Quarter8,870 2.08
Year23,040 5.39
1 Computed using the average number of shares outstanding during each period.

To assist investors in assessing 4Q21 results, the following disclosures have been made available in this 8-K filing:
-Identified items of $0.03 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
Earnings (Loss), $M4Q213Q212Q211Q214Q20
 United States1,768869663363(16,803)
 United States913663(149)(113)(514)
 United States1,3221,1831,282715461
Corporate and financing(603)(596)(588)(849)(1,018)
Net income (loss) attributable to ExxonMobil (U.S. GAAP)8,8706,7504,6902,730(20,070)
Earnings (Loss) per common share (U.S. GAAP)  2.081.571.100.64(4.70)
Earnings (Loss) per common share
- assuming dilution (U.S. GAAP)2.081.571.100.64(4.70)
Exploration expenses, including dry holes524190176164595
Capital and Exploration Expenditures, $M     
 United States1,3079769258101,122
 United States337199193271488
 United States461385313208435
Total Capital and Exploration Expenditures5,8083,8513,8033,1334,771
Effective Income Tax Rate, %28%33%30%33%22%
Common Shares Outstanding, millions     
 At quarter end4,2394,2344,2344,2344,233
 Average - assuming dilution4,2754,2764,2764,2724,272
Total Cash and Cash Equivalents, $B6.
Total Debt, $B47.756.660.663.367.6
Cash Flow from Operations and Asset Sales, $M     
 Net cash provided by operating activities17,12412,0919,6509,2644,005
 Proceeds associated with asset sales2,60118250307770
 Cash flow from operations and asset sales19,72512,1099,9009,5714,775
 Changes in operational working capital(1,930)(659)380(1,953)114
Cash flow from operations and asset sales excluding working capital

Net production of crude oil, natural gas4Q213Q212Q211Q214Q20
liquids, bitumen and synthetic oil, kbd     
 United States770758687665719
 Canada / Other Americas571569529575619
 Australia / Oceania4049453939
Total liquids production2,3852,3132,2002,2582,325
Natural gas production available for sale, mcfd     
 United States2,7132,7012,8042,7672,686
 Canada / Other Americas189184189216253
 Australia / Oceania1,3221,4641,1681,1641,161
Total natural gas production available for sale8,5848,1108,2949,1738,185
Total worldwide liquids and gas production, koebd ¹
Refinery throughput, kbd     
 United States1,7401,6841,5321,5321,594
 Asia Pacific546585607545522
 Other Non-U.S.170163164157150
Total refinery throughput4,1184,0513,8583,7513,755
Petroleum product sales, kbd     
 United States2,3832,3462,2182,0772,128
 Asia Pacific643648655665645
 Other Non-U.S.493457450458418
Total petroleum product sales5,3915,3275,0414,8814,833
 Gasolines, naphthas2,3252,1912,1171,9962,039
 Heating oils, kerosene, diesel1,8041,7961,7041,6921,739
 Aviation fuels267228201183172
 Heavy fuels265276275257237
 Specialty products730836744753646
Total petroleum product sales5,3915,3275,0414,8814,833
Chemical prime product sales, kt     
 United States2,5122,5312,4912,1902,467
Total chemical prime product sales6,7016,6726,5136,4466,643

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

Earnings Factor Analysis, $M
4Q21 vs. 4Q20
4Q21 vs. 3Q21
2021 vs. 2020
Prior Period(18,532)3,951(20,030)
Noncash effect of year-end reserves-220-970
Volume / Mix-170290-340
Identified Items18,730-54019,150
Current Period6,0856,08515,775
Prior Period(1,211)1,255(1,077)
Volume / Mix6080100
Identified Items520860
Current Period1,4671,4672,105
Prior Period6912,1401,963
Volume / Mix-10-30250
Identified Items650630740
Current Period1,9211,9217,796
Upstream Volume Factor Analysis, koebd  
Prior Period3,6893,6653,761
Downtime / Maintenance 51-315
Growth / Decline389-11
Entitlements / Divestments-7621-122
Government Mandates146898
Demand / Other-326371
Current Period3,8163,8163,712

Sources and Uses of Funds, $M4Q21    
Beginning Cash4,768    
Working Capital / Other2,593    
Proceeds Associated with Asset Sales2,601    
PP&E Adds / Investments and Advances ¹(4,711)    
Shareholder Distributions(3,763)    
Debt / Other Financing(9,217)    
Ending Cash6,802   

¹ PP&E Adds / Investments and Advances includes PP&E adds of ($4.1B) and net advances of ($0.6B).
Average Realization Data4Q213Q212Q211Q214Q20
United States     
Crude ($/b)73.6267.6263.2956.2039.06
Natural Gas ($/kcf)4.963.332.783.362.20
WTI ($/b)77.3470.5866.0957.8442.56
ANS-WC ($/b)79.7572.7068.5160.7644.75
Henry Hub ($/mbtu)5.844.022.832.712.67
Crude ($/b)69.9764.8960.5253.4137.86
Natural Gas ($/kcf)14.329.036.766.134.85
European NG ($/kcf)18.9510.816.765.874.87
Brent ($/b)79.7373.4768.8360.9044.22

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