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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): June 17, 2022
 
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 7.01Regulation FD Disclosure
On January 31, the Corporation announced in its News Release titled “ExxonMobil Streamlines Structure to Enhance Effectiveness, Grow Value, Reduce Costs” its intent to streamline its business structure to better support customers, enhance performance and grow value. Effective April 1, the Corporation formed ExxonMobil Product Solutions, combining world-scale Downstream and Chemical businesses, and centralized Technology & Engineering and Operations & Sustainability groups to further capture benefits of technology, scale, and integration value.

The Corporation will begin reporting under the new structure effective with the filing of the Quarterly Report on Form 10-Q for the quarterly period ending June 30, 2022 that will be filed with the United States Securities and Exchange Commission (“SEC”). This Form 8-K provides a retrospective application of the new segments and reclassified historical results for the five (5) years prior to January 1, 2022 as shown in Exhibit 99.1. The adjustments to the new segmentation had no impact on the Corporation’s historical consolidated operating results, cash flows, or equity. Reclassified historical segment results are unaudited estimates. Exhibit 99.2 contains a presentation posted on our website explaining the restructuring and modeling guidance for our product solutions business.

2


INDEX TO EXHIBITS
 
 
 
Exhibit No.Description
  
New Segment Recast
  
ExxonMobil Product Solutions 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: June 17, 2022By:/s/ LEN M. FOX
  Len M. Fox
  Vice President and Controller
  (Principal Accounting Officer)
4
Document

Attachment I - Earnings Recast
Reclassified historical segment results are unaudited estimates.
Due to rounding, numbers presented may not add up precisely to the totals indicated.



Segmentation Basis (prior to 2Q22)
Earnings/(Loss), $M1Q172Q173Q174Q1720171Q182Q183Q184Q1820181Q192Q193Q194Q1920191Q202Q203Q204Q2020201Q212Q213Q214Q2120211Q22
Upstream
United States(18)(183)(238)7,0616,6224294396062651,739963353768536(704)(1,197)(681)(16,803)(19,385)3636638691,7683,6632,376
Non-U.S.2,2701,3671,8051,2916,7333,0682,6013,6233,04812,3402,7802,9262,1316,06913,9061,240(454)298(1,729)(645)2,1912,5223,0824,31712,1122,112
Total2,2521,1841,5678,35213,3553,4973,0404,2293,31314,0792,8763,2612,1686,13714,442536(1,651)(383)(18,532)(20,030)2,5543,1853,9516,08515,7754,488
Downstream
United States2923473919181,9483196959619872,962(161)3106738951,717(101)(101)(136)(514)(852)(113)(149)6639131,314685
Non-U.S.8241,0381,1416463,649621296811,7173,048(95)1415573606(510)1,077(95)(697)(225)(277)(78)592554791(353)
Total1,1161,3851,5321,5645,5979407241,6422,7046,010(256)4511,2308982,323(611)976(231)(1,211)(1,077)(390)(227)1,2551,4672,105332
Chemical
United States5294814037772,1905034534042821,642161(6)53(2)2062881713574611,2777151,2821,1831,3224,502819
Non-U.S.6425046894932,3285084373094551,709357194188(353)386(144)2963042306867001,0389575993,294535
Total1,1719851,0921,2704,5181,0118907137373,351518188241(355)5921444676616911,9631,4152,3202,1401,9217,7961,354
Corporate and Financing(529)(204)(221)(2,806)(3,760)(798)(704)(344)(754)(2,600)(788)(770)(469)(990)(3,017)(679)(872)(727)(1,018)(3,296)(849)(588)(596)(603)(2,636)(694)
Net Income/(Loss) attributable
to ExxonMobil (U.S. GAAP)
4,0103,3503,9708,38019,7104,6503,9506,2406,00020,8402,3503,1303,1705,69014,340(610)(1,080)(680)(20,070)(22,440)2,7304,6906,7508,87023,0405,480
Segmentation Basis (effective 2Q22)
Earnings/(Loss), $M1Q172Q173Q174Q1720171Q182Q183Q184Q1820181Q192Q193Q194Q1920191Q202Q203Q204Q2020201Q212Q213Q214Q2120211Q22
Upstream
 United States(18)(183)(238)7,0616,6224294396062651,739963353768536(704)(1,197)(681)(16,803)(19,385)3636638691,7683,6632,376
 Non-U.S.2,2701,3671,8051,2916,7333,0682,6013,6233,04812,3402,7802,9262,1316,06913,9061,240(454)298(1,729)(645)2,1912,5223,0824,31712,1122,112
 Total2,2521,1841,5678,35213,3553,4973,0404,2293,31314,0792,8763,2612,1686,13714,442536(1,651)(383)(18,532)(20,030)2,5543,1853,9516,08515,7754,488
Energy Products
 United States2552633198561,6932796319531,0592,922(195)2035898281,425(183)(212)(300)(648)(1,342)(232)(278)479699668489
 Non-U.S.5946558044252,477400(172)5591,5612,348(175)21335(164)17(645)895(399)(1,081)(1,230)(689)(578)50203(1,014)(684)
 Total8499181,1221,2804,1706794591,5122,6205,270(369)2239246641,442(828)683(699)(1,728)(2,572)(921)(856)529901(347)(196)
Chemical Products
 United States4263893425981,7544413823132031,339103(23)214972201743644391,1966541,1491,1217743,697770
 Non-U.S.5714826635092,2254924832933881,655332289298(240)679(4)2783604271,0617371,0519075973,292636
 Total9978701,0051,1073,9799338656065912,994435266301(226)7762154517248662,2571,3912,2002,0271,3716,9891,405
Specialty Products
United States14017613324169110113599834392124134514011511081561565711802622477631,452246
Non-U.S.3014063642051,2762381551382237541052611254296(5)2002481876303754875923531,807230
Total4415824974461,9663392902372311,0971961502461056971463094053421,2015557508391,1163,259476
Corporate and Financing(529)(204)(221)(2,806)(3,760)(798)(704)(344)(754)(2,600)(788)(770)(469)(990)(3,017)(679)(872)(727)(1,018)(3,296)(849)(588)(596)(603)(2,636)(694)
Net Income/(Loss) attributable
to ExxonMobil (U.S. GAAP)
4,0103,3503,9708,38019,7104,6503,9506,2406,00020,8402,3503,1303,1705,69014,340(610)(1,080)(680)(20,070)(22,440)2,7304,6906,7508,87023,0405,480



Attachment II - Identified Items Recast
Reclassified historical segment results are unaudited estimates.
Due to rounding, numbers presented may not add up precisely to the totals indicated.
As per previously reported data. Identified items as per frequently used terms from 2018 onwards. 2017 data shows reported Asset Impairments and U.S. Tax reform impacts.

Earnings/(loss) excluding identified items 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. Earnings/(loss) excluding identified items does include non-operational earnings events or impacts that are below the $250 million threshold utilized for identified items. When the effect of these events are material in aggregate, they are indicated in analysis of period results as part of quarterly earnings press release and teleconference materials. 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.



Segmentation Basis (prior to 2Q22)
Identified Items Earnings/(Loss), $M1Q172Q173Q174Q1720171Q182Q183Q184Q1820181Q192Q193Q194Q1920191Q202Q203Q204Q2020201Q212Q213Q214Q2120211Q22
Upstream
United StatesImpairments(40)(481)(521)(315)(16,777)(17,092)(263)(263)
Gain/(loss) on sale of assets
Inventory valuation - lower of cost or market(45)45
Tax-related items7,6027,602
Other(274)(274)
Total(40)7,1217,081(274)(274)(360)45(16,777)(17,092)(263)(263)
 Non-U.S.Impairments(118)(58)(807)(983)(41)(2,203)(2,244)(489)(489)(2,877)
Gain/(loss) on sale of assets3663663,6793,679459459
Inventory valuation - lower of cost or market(218)168(11)(61)
Tax-related items(480)(480)271271487268755(297)(297)
Other(96)(96)(250)(250)(378)
Total(118)(58)(1,287)(1,463)366271(96)5414873,9474,434(259)168(11)(2,500)(2,602)(280)(280)(3,255)
 TotalImpairments(118)(98)(1,288)(1,504)(356)(18,980)(19,336)(752)(752)(2,877)
Gain/(loss) on sale of assets3663663,6793,679459459
Inventory valuation - lower of cost or market(263)213(11)(61)
Tax-related items7,1227,122271271487268755(297)(297)
Other(370)(370)(250)(250)(378)
Total(118)(98)5,8345,618366271(370)2674873,9474,434(619)213(11)(19,277)(19,694)(543)(543)(3,255)
Downstream
United StatesImpairments(6)(6)(4)(4)
Gain/(loss) on sale of assets44
Inventory valuation - lower of cost or market(407)4043
Tax-related items618618
Total612612(411)4043(4)44
 Non-U.S.Impairments(11)(11)(335)(258)(593)
Gain/(loss) on sale of assets888888
Inventory valuation - lower of cost or market(1,196)1,1906
Tax-related items5757(9)(9)(262)(262)
Total(11)(11)945945(9)(9)(1,531)1,1906(520)(855)
 TotalImpairments(11)(6)(17)(339)(258)(597)
Gain/(loss) on sale of assets88888844
Inventory valuation - lower of cost or market(1,603)1,5949
Tax-related items6186185757(9)(9)(262)(262)
Total(11)612601945945(9)(9)(1,942)1,5949(520)(859)44



Segmentation Basis (prior to 2Q22)- Continued
Identified Items Earnings/(Loss), $M1Q172Q173Q174Q1720171Q182Q183Q184Q1820181Q192Q193Q194Q1920191Q202Q203Q204Q2020201Q212Q213Q214Q2120211Q22
Chemical
United StatesImpairments(90)(90)
Gain/(loss) on sale of assets494494
Inventory valuation - lower of cost or market(29)29
Tax-related items335335
Total335335(90)(29)29(90)494494
Non-U.S.Impairments(2)(2)
Gain/(loss) on sale of assets136136
Inventory valuation - lower of cost or market(230)14486
Tax-related items21221222(22)(22)
Total21221222(232)14486(22)(24)136136
TotalImpairments(92)(92)
Gain/(loss) on sale of assets630630
Inventory valuation - lower of cost or market(230)115115
Tax-related items33533521221222(22)(22)
Total33533521221222(322)115115(22)(114)630630
Corporate and FinancingImpairments(35)(35)(98)
Gain/(loss) on sale of assets(6)(6)(24)(24)(12)(12)
Severance(326)(326)(31)(12)(5)(4)(52)
Inventory valuation - lower of cost or market
Tax-related items(2,133)(2,133)34834825307332
Total(2,133)(2,133)348(6)34225307(24)308(361)(361)(31)(12)(5)(16)(64)(98)
Identified items impact attributable to ExxonMobilImpairments(118)(109)(1,294)(1,521)(787)(19,273)(20,060)(752)(752)(2,975)
Gain/(loss) on sale of assets3668821,2483,6553,6551,0811,081
Severance(326)(326)(31)(12)(5)(4)(52)
Inventory valuation - lower of cost or market(2,096)1,922113(61)
Tax-related items5,9425,9426192698885053072681,080(581)(581)
Other(370)(370)(250)(250)(378)
Total(118)(109)4,6484,4213666197811,7665053073,9234,735(2,883)1,922113(20,180)(21,028)(31)(12)(5)7527(3,353)



Segmentation Basis (effective 2Q22)
Identified Items Earnings/(Loss), $M1Q172Q173Q174Q1720171Q182Q183Q184Q1820181Q192Q193Q194Q1920191Q202Q203Q204Q2020201Q212Q213Q214Q2120211Q22
Upstream
United StatesImpairments(40)(481)(521)(315)(16,777)(17,092)(263)(263)
Inventory valuation - lower of cost or market(45)45
Tax-related items7,6027,602
Other(274)(274)
Total(40)7,1217,081(274)(274)(360)45(16,777)(17,092)(263)(263)
 Non-U.S.Impairments(118)(58)(807)(983)(41)(2,203)(2,244)(489)(489)(2,877)
Gain/(loss) on sale of assets3663663,6793,679459459
Inventory valuation - lower of cost or market(218)168(11)(61)
Tax-related items(480)(480)271271487268755(297)(297)
Other(96)(96)(250)(250)(378)
Total(118)(58)(1,287)(1,463)366271(96)5414873,9474,434(259)168(11)(2,500)(2,602)(280)(280)(3,255)
 TotalImpairments(118)(98)(1,288)(1,504)(356)(18,980)(19,336)(752)(752)(2,877)
Gain/(loss) on sale of assets3663663,6793,679459459
Inventory valuation - lower of cost or market(263)213(11)(61)
Tax-related items7,1227,122271271487268755(297)(297)
Other(370)(370)(250)(250)(378)
Total(118)(98)5,8345,618366271(370)2674873,9474,434(619)213(11)(19,277)(19,694)(543)(543)(3,255)
Energy Products
United StatesImpairments(6)(6)(4)(4)
Inventory valuation - lower of cost or market(407)3998
Tax-related items581581
Total575575(411)3998(4)
 Non-U.S.Impairments(11)(11)(116)(258)(374)
Gain/(loss) on sale of assets847847
Inventory valuation - lower of cost or market(1,302)1,29012
Tax-related items4949(9)(9)(262)(262)
Total(11)(11)896896(9)(9)(1,418)1,29012(520)(636)
 TotalImpairments(11)(6)(17)(120)(258)(378)
Gain/(loss) on sale of assets847847
Inventory valuation - lower of cost or market(1,709)1,68920
Tax-related items5815814949(9)(9)(262)(262)
Total(11)575564896896(9)(9)(1,829)1,68920(520)(640)




Segmentation Basis (effective 2Q22)- Continued
Identified Items Earnings/(Loss), $M1Q172Q173Q174Q1720171Q182Q183Q184Q1820181Q192Q193Q194Q1920191Q202Q203Q204Q2020201Q212Q213Q214Q2120211Q22
Chemical Products
United StatesImpairments(90)(90)
Inventory valuation - lower of cost or market(19)19
Tax-related items215215
Total215215(90)(19)19(90)
 Non-U.S.Impairments(2)(2)
Gain/(loss) on sale of assets11
Inventory valuation - lower of cost or market(124)6064
Tax-related items15515522(13)(13)
Total15615622(126)6064(13)(15)
 TotalImpairments(92)(92)
Gain/(loss) on sale of assets11
Inventory valuation - lower of cost or market(124)4183