SEC Filing | Exxon Mobil Corporation

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xom-20220630

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2022

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from __________to__________

Commission File Number 1-2256

Exxon Mobil Corporation

(Exact name of registrant as specified in its charter)


New Jersey						13-5409005
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification Number)

5959 Las Colinas Boulevard, Irving, Texas 75039-2298

(Address of principal executive offices) (Zip Code)

(972) 940-6000

(Registrant's telephone number, including area code)

_______________________

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol

Name of Each Exchange on Which Registered

Common Stock, without par value

XOM

New York Stock Exchange

0.142% Notes due 2024

XOM24B

New York Stock Exchange

0.524% Notes due 2028

XOM28

New York Stock Exchange

0.835% Notes due 2032

XOM32

New York Stock Exchange

1.408% Notes due 2039

XOM39A

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☑	Accelerated filer	☐

Non-accelerated filer	☐	Smaller reporting company	☐

		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. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.


Class						Outstanding as of June 30, 2022
Common stock, without par value						4,167,636,295

EXXON MOBIL CORPORATION

FORM 10-Q

FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2022

TABLE OF CONTENTS


PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

Condensed Consolidated Statement of Income - Three and six months ended June 30, 2022 and 2021			3

Condensed Consolidated Statement of Comprehensive Income - Three and six months ended June 30, 2022 and 2021			4

Condensed Consolidated Balance Sheet - As of June 30, 2022 and December 31, 2021			5

Condensed Consolidated Statement of Cash Flows - Six months ended June 30, 2022 and 2021			6

Condensed Consolidated Statement of Changes in Equity - Three months ended June 30, 2022 and 2021			7

Condensed Consolidated Statement of Changes in Equity - Six months ended June 30, 2022 and 2021			8



Notes to Condensed Consolidated Financial Statements			9

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations			18

Item 3. Quantitative and Qualitative Disclosures About Market Risk			33

Item 4. Controls and Procedures			33


PART II. OTHER INFORMATION

Item 1. Legal Proceedings			34



Item 2. Unregistered Sales of Equity Securities and Use of Proceeds			34

Item 6. Exhibits			34

Index to Exhibits			35

Signature			36

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS



CONDENSED CONSOLIDATED STATEMENT OF INCOME


(millions of dollars, unless noted)	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Revenues and other income
Sales and other operating revenue	111,265	65,943	198,999	123,495
Income from equity affiliates	3,688	1,436	6,226	2,909
Other income	728	363	956	485
Total revenues and other income	115,681	67,742	206,181	126,889
Costs and other deductions
Crude oil and product purchases	65,613	37,329	118,001	69,930
Production and manufacturing expenses	10,686	8,471	20,927	16,533
Selling, general and administrative expenses	2,530	2,345	4,939	4,773
Depreciation and depletion (including impairments)	4,451	4,952	13,334	9,956
Exploration expenses, including dry holes	286	176	459	340
Non-service pension and postretirement benefit expense	120	162	228	540
Interest expense	194	254	382	512
Other taxes and duties	6,868	7,746	14,422	14,406
Total costs and other deductions	90,748	61,435	172,692	116,990
Income (loss) before income taxes	24,933	6,307	33,489	9,899
Income taxes	6,359	1,526	9,165	2,322
Net income (loss) including noncontrolling interests	18,574	4,781	24,324	7,577
Net income (loss) attributable to noncontrolling interests	724	91	994	157
Net income (loss) attributable to ExxonMobil	17,850	4,690	23,330	7,420

Earnings (loss) per common share (dollars)	4.21	1.10	5.49	1.74

Earnings (loss) per common share - assuming dilution (dollars)	4.21	1.10	5.49	1.74

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.



CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME


(millions of dollars)	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021		2022	2021
Net income (loss) including noncontrolling interests	18,574	4,781		24,324	7,577

Other comprehensive income (loss) (net of income taxes)
Foreign exchange translation adjustment	(2,537)	423		(1,796)	572

Postretirement benefits reserves adjustment (excluding amortization)	155	(47)		260	121
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs	102	215		195	593
Total other comprehensive income (loss)	(2,280)	591		(1,341)	1,286
Comprehensive income (loss) including noncontrolling interests	16,294	5,372		22,983	8,863
Comprehensive income (loss) attributable to noncontrolling interests	547	178		906	324
Comprehensive income (loss) attributable to ExxonMobil	15,747	5,194		22,077	8,539

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.



CONDENSED CONSOLIDATED BALANCE SHEET


(millions of dollars, unless noted)	June 30, 2022	December 31, 2021

ASSETS
Current assets
Cash and cash equivalents	18,861	6,802
Notes and accounts receivable – net	48,063	32,383
Inventories
Crude oil, products and merchandise	19,580	14,519
Materials and supplies	4,005	4,261
Other current assets	2,654	1,189
Total current assets	93,163	59,154
Investments, advances and long-term receivables	46,820	45,195
Property, plant and equipment – net	209,159	216,552
Other assets, including intangibles – net	18,632	18,022
Total Assets	367,774	338,923

LIABILITIES
Current liabilities
Notes and loans payable	7,367	4,276
Accounts payable and accrued liabilities	67,958	50,766
Income taxes payable	4,785	1,601
Total current liabilities	80,110	56,643
Long-term debt	39,516	43,428
Postretirement benefits reserves	17,408	18,430
Deferred income tax liabilities	20,807	20,165
Long-term obligations to equity companies	2,617	2,857
Other long-term obligations	22,808	21,717
Total Liabilities	183,266	163,240

Commitments and contingencies (Note 3)

EQUITY
Common stock without par value
(9,000 million shares authorized, 8,019 million shares issued)	16,018	15,746
Earnings reinvested	407,902	392,059
Accumulated other comprehensive income	(15,017)	(13,764)
Common stock held in treasury
(3,851 million shares at June 30, 2022 and 3,780 million shares at December 31, 2021)	(231,587)	(225,464)
ExxonMobil share of equity	177,316	168,577
Noncontrolling interests	7,192	7,106
Total Equity	184,508	175,683
Total Liabilities and Equity	367,774	338,923

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.



CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW


(millions of dollars)	Six Months Ended June 30,
	2022	2021

CASH FLOW FROM OPERATING ACTIVITIES
Net income (loss) including noncontrolling interests	24,324	7,577
Depreciation and depletion (including impairments)	13,334	9,956

Changes in operational working capital, excluding cash and debt	(1,661)	1,573
All other items – net	(1,246)	(192)
Net cash provided by operating activities	34,751	18,914

CASH FLOW FROM INVESTING ACTIVITIES
Additions to property, plant and equipment	(7,748)	(5,147)
Proceeds from asset sales and returns of investments	1,232	557
Additional investments and advances	(643)	(613)
Other investing activities including collection of advances	150	132
Net cash used in investing activities	(7,009)	(5,071)

CASH FLOW FROM FINANCING ACTIVITIES


Additions to short-term debt	—	9,662
Reductions in short-term debt	(2,336)	(18,000)
Additions/(reductions) in debt with three months or less maturity	1,303	1,320
Contingent consideration payments	(58)	(28)
Cash dividends to ExxonMobil shareholders	(7,487)	(7,441)
Cash dividends to noncontrolling interests	(123)	(112)
Changes in noncontrolling interests	(697)	(207)
Common stock acquired	(5,986)	(1)
Net cash used in financing activities	(15,384)	(14,807)

Effects of exchange rate changes on cash	(299)	65
Increase/(decrease) in cash and cash equivalents	12,059	(899)
Cash and cash equivalents at beginning of period	6,802	4,364
Cash and cash equivalents at end of period	18,861	3,465

SUPPLEMENTAL DISCLOSURES
Income taxes paid	5,545	2,079
Cash interest paid
Included in cash flows from operating activities	352	466
Capitalized, included in cash flows from investing activities	388	313
Total cash interest paid	740	779


Noncash right of use assets recorded in exchange for lease liabilities
Operating leases	1,039	511
Finance leases	656	55

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.



CONDENSED CONSOLIDATED STATEMENT OF CHANGE IN EQUITY


	ExxonMobil Share of Equity

(millions of dollars, unless noted)	Common Stock	Earnings Reinvested	Accumulated Other Comprehensive Income	Common Stock Held in Treasury	ExxonMobil Share of Equity	Non-controlling Interests	Total Equity

Balance as of March 31, 2021	15,884	382,953	(16,090)	(225,773)	156,974	7,127	164,101
Amortization of stock-based awards	126	—	—	—	126	—	126
Other	(4)	—	—	—	(4)	33	29
Net income (loss) for the period	—	4,690	—	—	4,690	91	4,781
Dividends - common shares	—	(3,721)	—	—	(3,721)	(60)	(3,781)
Other comprehensive income (loss)	—	—	504	—	504	87	591
Acquisitions, at cost	—	—	—	—	—	(293)	(293)
Dispositions	—	—	—	2	2	—	2
Balance as of June 30, 2021	16,006	383,922	(15,586)	(225,771)	158,571	6,985	165,556

Balance as of March 31, 2022	15,879	393,779	(12,914)	(227,529)	169,215	7,311	176,526
Amortization of stock-based awards	143	—	—	—	143	—	143
Other	(4)	—	—	—	(4)	(15)	(19)
Net income (loss) for the period	—	17,850	—	—	17,850	724	18,574
Dividends - common shares	—	(3,727)	—	—	(3,727)	(63)	(3,790)
Other comprehensive income (loss)	—	—	(2,103)	—	(2,103)	(177)	(2,280)
Acquisitions, at cost	—	—	—	(4,059)	(4,059)	(588)	(4,647)
Dispositions	—	—	—	1	1	—	1
Balance as of June 30, 2022	16,018	407,902	(15,017)	(231,587)	177,316	7,192	184,508


	Three Months Ended June 30, 2022			Three Months Ended June 30, 2021

Common Stock Share Activity (millions of shares)	Issued	Held in Treasury	Outstanding	Issued	Held in Treasury	Outstanding
Balance as of March 31	8,019	(3,806)	4,213	8,019	(3,785)	4,234
Acquisitions	—	(45)	(45)	—	—	—
Dispositions	—	—	—	—	—	—
Balance as of June 30	8,019	(3,851)	4,168	8,019	(3,785)	4,234

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.



CONDENSED CONSOLIDATED STATEMENT OF CHANGE IN EQUITY


	ExxonMobil Share of Equity

(millions of dollars, unless noted)	Common Stock	Earnings Reinvested	Accumulated Other Comprehensive Income	Common Stock Held in Treasury	ExxonMobil Share of Equity	Non-controlling Interests	Total Equity

Balance as of December 31, 2020	15,688	383,943	(16,705)	(225,776)	157,150	6,980	164,130
Amortization of stock-based awards	328	—	—	—	328	—	328
Other	(10)	—	—	—	(10)	86	76
Net income (loss) for the period	—	7,420	—	—	7,420	157	7,577
Dividends - common shares	—	(7,441)	—	—	(7,441)	(112)	(7,553)

Other comprehensive income (loss)	—	—	1,119	—	1,119	167	1,286
Acquisitions, at cost	—	—	—	(1)	(1)	(293)	(294)
Dispositions	—	—	—	6	6	—	6
Balance as of June 30, 2021	16,006	383,922	(15,586)	(225,771)	158,571	6,985	165,556

Balance as of December 31, 2021	15,746	392,059	(13,764)	(225,464)	168,577	7,106	175,683
Amortization of stock-based awards	281	—	—	—	281	—	281
Other	(9)	—	—	—	(9)	(1)	(10)
Net income (loss) for the period	—	23,330	—	—	23,330	994	24,324
Dividends - common shares	—	(7,487)	—	—	(7,487)	(123)	(7,610)

Other comprehensive income (loss)	—	—	(1,253)	—	(1,253)	(88)	(1,341)
Acquisitions, at cost	—	—	—	(6,126)	(6,126)	(696)	(6,822)
Dispositions	—	—	—	3	3	—	3
Balance as of June 30, 2022	16,018	407,902	(15,017)	(231,587)	177,316	7,192	184,508


	Six Months Ended June 30, 2022			Six Months Ended June 30, 2021

Common Stock Share Activity (millions of shares)	Issued	Held in Treasury	Outstanding	Issued	Held in Treasury	Outstanding
Balance as of December 31	8,019	(3,780)	4,239	8,019	(3,786)	4,233
Acquisitions	—	(71)	(71)	—	—	—
Dispositions	—	—	—	—	1	1
Balance as of June 30	8,019	(3,851)	4,168	8,019	(3,785)	4,234

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.



NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Note 1. Basis of Financial Statement Preparation

These unaudited condensed consolidated financial statements should be read in the context of the consolidated financial statements and notes thereto filed with the Securities and Exchange Commission in the Corporation's 2021 Annual Report on Form 10-K. In the opinion of the Corporation, the information furnished herein reflects all known accruals and adjustments necessary for a fair statement of the results for the periods reported herein. All such adjustments are of a normal recurring nature. Prior data has been reclassified in certain cases to conform to the current presentation basis.

The Corporation's exploration and production activities are accounted for under the "successful efforts" method.

Note 2. Russia

In response to Russia’s military action in Ukraine, the Corporation announced in early 2022 that it plans to discontinue operations on the Sakhalin-1 project (“Sakhalin”) and develop steps to exit the venture. In light of this, an impairment assessment was conducted, and management determined that the carrying value of the asset group was not recoverable. As a result, the Corporation’s first quarter earnings included after-tax charges of $3.4 billion largely representing the impairment of its operations related to Sakhalin. On a before-tax basis, the charges amounted to $4.6 billion, substantially all of which is reflected in the line captioned “Depreciation and depletion (including impairments)” on the Condensed Consolidated Statement of Income. The Corporation's exit from the project would result in quantities estimated at 150 million oil-equivalent barrels no longer qualifying as proved reserves, which represented less than one percent of the Corporation's 18.5 billion oil-equivalent barrels of proved reserves at year-end 2021.

Note 3. Litigation and Other Contingencies

Litigation

A variety of claims have been made against ExxonMobil and certain of its consolidated subsidiaries in a number of pending lawsuits. Management has regular litigation reviews, including updates from corporate and outside counsel, to assess the need for accounting recognition or disclosure of these contingencies. The Corporation accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. The Corporation does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote. For contingencies where an unfavorable outcome is reasonably possible and which are significant, the Corporation discloses the nature of the contingency and, where feasible, an estimate of the possible loss. For purposes of our contingency disclosures, “significant” includes material matters, as well as other matters which management believes should be disclosed. ExxonMobil will continue to defend itself vigorously in these matters. Based on a consideration of all relevant facts and circumstances, the Corporation does not believe the ultimate outcome of any currently pending lawsuit against ExxonMobil will have a material adverse effect upon the Corporation's operations, financial condition, or financial statements taken as a whole.

Other Contingencies

The Corporation and certain of its consolidated subsidiaries were contingently liable at June 30, 2022, for guarantees relating to notes, loans and performance under contracts. Where guarantees for environmental remediation and other similar matters do not include a stated cap, the amounts reflect management’s estimate of the maximum potential exposure. These guarantees are not reasonably likely to have a material effect on the Corporation’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.


	June 30, 2022

(millions of dollars)	Equity Company Obligations (1)	Other Third-Party Obligations	Total
Guarantees
Debt-related	1,138	144	1,282
Other	757	5,903	6,660
Total	1,895	6,047	7,942

(1) ExxonMobil share

Additionally, the Corporation and its affiliates have numerous long-term sales and purchase commitments in their various business activities, all of which are expected to be fulfilled with no adverse consequences material to the Corporation’s operations or financial condition.

The operations and earnings of the Corporation and its affiliates throughout the world have been, and may in the future be, affected from time to time in varying degree by political developments and laws and regulations, such as forced divestiture of assets; restrictions on production, imports and exports; price controls; tax increases and retroactive tax claims; expropriation of property; cancellation of contract rights; sanctions and environmental regulations. Both the likelihood of such occurrences and their overall effect upon the Corporation vary greatly from country to country and are not predictable.

Note 4. Other Comprehensive Income Information


ExxonMobil Share of Accumulated Other Comprehensive Income (millions of dollars)	Cumulative Foreign Exchange Translation Adjustment	Postretirement Benefits Reserves Adjustment	Total
Balance as of December 31, 2020	(10,614)	(6,091)	(16,705)
Current period change excluding amounts reclassified from accumulated other comprehensive income (1)	425	119	544
Amounts reclassified from accumulated other comprehensive income	—	575	575
Total change in accumulated other comprehensive income	425	694	1,119
Balance as of June 30, 2021	(10,189)	(5,397)	(15,586)

Balance as of December 31, 2021	(11,499)	(2,265)	(13,764)
Current period change excluding amounts reclassified from accumulated other comprehensive income (1)	(1,682)	245	(1,437)
Amounts reclassified from accumulated other comprehensive income	—	184	184
Total change in accumulated other comprehensive income	(1,682)	429	(1,253)
Balance as of June 30, 2022	(13,181)	(1,836)	(15,017)

(1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) net of taxes of $327 million and $135 million in 2022 and 2021, respectively.


Amounts Reclassified Out of Accumulated Other Comprehensive Income - Before-tax Income/(Expense) (millions of dollars)	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021

Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs
(Statement of Income line: Non-service pension and postretirement benefit expense)	(132)	(280)	(252)	(764)


Income Tax (Expense)/Credit For Components of Other Comprehensive Income (millions of dollars)	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021

Foreign exchange translation adjustment	(68)	19	(90)	(34)
Postretirement benefits reserves adjustment (excluding amortization)	(83)	25	(123)	(33)
Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs	(30)	(65)	(57)	(171)
Total	(181)	(21)	(270)	(238)

Note 5. Earnings Per Share


	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Earnings per common share
Net income (loss) attributable to ExxonMobil (millions of dollars)	17,850	4,690	23,330	7,420
Weighted average number of common shares outstanding (millions of shares)	4,233	4,276	4,248	4,274
Earnings (loss) per common share (dollars) (1)	4.21	1.10	5.49	1.74
Dividends paid per common share (dollars)	0.88	0.87	1.76	1.74

(1) The calculation of earnings (loss) per common share and earnings (loss) per common share – assuming dilution are the same in each period shown.

Note 6. Pension and Other Postretirement Benefits


(millions of dollars)	Three Months Ended June 30,		Six Months Ended June 30,
	2022	2021	2022	2021
Components of net benefit cost
Pension Benefits - U.S.
Service cost	177	208	356	433
Interest cost	129	140	258	279
Expected return on plan assets	(140)	(181)	(280)	(361)
Amortization of actuarial loss/(gain)	39	61	78	122
Amortization of prior service cost	(7)	(6)	(14)	(12)
Net pension enhancement and curtailment/settlement cost	53	95	90	393
Net benefit cost	251	317	488	854

Pension Benefits - Non-U.S.
Service cost	145	198	295	393
Interest cost	157	135	317	265
Expected return on plan assets	(207)	(263)	(420)	(521)
Amortization of actuarial loss/(gain)	47	107	94	215
Amortization of prior service cost	11	14	23	29
Net pension enhancement and curtailment/settlement cost	(1)	—	(1)	12
Net benefit cost	152	191	308	393

Other Postretirement Benefits
Service cost	38	46	78	95
Interest cost	53	55	108	111
Expected return on plan assets	(4)	(4)	(7)	(9)
Amortization of actuarial loss/(gain)	—	19	3	38
Amortization of prior service cost	(10)	(10)	(21)	(21)
Net benefit cost	77	106	161	214

Note 7. Financial Instruments and Derivatives

The estimated fair value of financial instruments and derivatives at June 30, 2022 and December 31, 2021, and the related hierarchy level for the fair value measurement was as follows:


	June 30, 2022


	Fair Value
(millions of dollars)	Level 1	Level 2	Level 3	Total Gross Assets & Liabilities	Effect of Counterparty Netting	Effect of Collateral Netting	Difference in Carrying Value and Fair Value	Net Carrying Value
Assets
Derivative assets (1)	6,269	2,935	—	9,204	(7,954)	(209)	—	1,041

Advances to/receivables from equity companies (2)(6)	—	2,511	5,017	7,528	—	—	666	8,194

Other long-term financial assets (3)	1,166	—	1,017	2,183	—	—	188	2,371

Liabilities
Derivative liabilities (4)	6,278	3,921	—	10,199	(7,954)	(218)	—	2,027
Long-term debt (5)	34,229	61	5	34,295	—	—	2,935	37,230

Long-term obligations to equity companies (6)	—	—	2,635	2,635	—	—	(18)	2,617

Other long-term financial liabilities (7)	—	—	742	742	—	—	51	793


	December 31, 2021


	Fair Value
(millions of dollars)	Level 1	Level 2	Level 3	Total Gross Assets & Liabilities	Effect of Counterparty Netting	Effect of Collateral Netting	Difference in Carrying Value and Fair Value	Net Carrying Value
Assets
Derivative assets (1)	1,422	1,523	—	2,945	(1,930)	(28)	—	987

Advances to/receivables from equity companies (2)(6)	—	3,076	5,373	8,449	—	—	(123)	8,326

Other long-term financial assets (3)	1,134	—	1,058	2,192	—	—	181	2,373

Liabilities
Derivative liabilities (4)	1,701	2,594	—	4,295	(1,930)	(306)	—	2,059
Long-term debt (5)	44,454	88	3	44,545	—	—	(2,878)