Disclosures About Segments And Related Information

12 Months Ended

Dec. 31, 2019

Disclosures About Segments And Related Information [Abstract]

Disclosures About Segments And Related Information

18. Disclosures about Segments and Related Information

The Upstream, Downstream and Chemical functions best define the operating segments of the business that are reported separately. The factors used to identify these reportable segments are based on the nature of the operations that are undertaken by each segment. The Upstream segment is organized and operates to explore for and produce crude oil and natural gas. The Downstream segment is organized and operates to manufacture and sell petroleum products. The Chemical segment is organized and operates to manufacture and sell petrochemicals. These segments are broadly understood across the petroleum and petrochemical industries.

These functions have been defined as the operating segments of the Corporation because they are the segments (1) that engage in business activities from which revenues are recognized and expenses are incurred; (2) whose operating results are regularly reviewed by the Corporation’s chief operating decision maker to make decisions about resources to be allocated to the segment and to assess its performance; and (3) for which discrete financial information is available.

Earnings after income tax include transfers at estimated market prices.

In the Corporate and financing segment, interest revenue relates to interest earned on cash deposits and marketable securities. Interest expense includes non-debt-related interest expense of $105 million in 2019, $84 million in 2018 and $136 million in 2017.

																Corporate
	Upstream					Downstream					Chemical						and	Corporate
	U.S.		Non-U.S.			U.S.		Non-U.S.			U.S.		Non-U.S.			Financing			Total
		(millions of dollars)
As of December 31, 2019
Earnings after income tax		536		13,906			1,717		606			206		386			(3,017)		14,340
Earnings of equity companies included above		282		4,534			196		19			(4)		818			(404)		5,441
Sales and other operating revenue		9,364		13,779			70,523		134,460			9,723		17,693			41		255,583
Intersegment revenue		10,893		30,864			22,416		24,775			7,864		5,905			224		-
Depreciation and depletion expense		6,162		9,305			674		832			555		621			849		18,998
Interest revenue		-		-			-		-			-		-			84		84
Interest expense		54		34			1		9			-		1			731		830
Income tax expense (benefit)		(151)		5,509			465		361			58		305			(1,265)		5,282
Additions to property, plant and equipment		10,404		7,347			2,685		1,777			1,344		589			758		24,904
Investments in equity companies		5,313		17,736			319		1,062			1,835		3,335			(309)		29,291
Total assets		95,750		151,181			23,442		37,133			16,544		20,376			18,171		362,597

As of December 31, 2018
Earnings after income tax		1,739		12,340			2,962		3,048			1,642		1,709			(2,600)		20,840
Earnings of equity companies included above		608		5,816			156		(6)			48		1,113			(380)		7,355
Sales and other operating revenue		10,359		15,158			74,327		147,007			12,239		20,204			38		279,332
Intersegment revenue		8,683		29,659			21,954		29,888			9,044		7,217			205		-
Depreciation and depletion expense		6,024		9,257			684		890			405		606			879		18,745
Interest revenue		-		-			-		-			-		-			64		64
Interest expense		77		31			2		12			-		1			643		766
Income tax expense (benefit)		104		8,149			946		1,008			566		245			(1,486)		9,532
Additions to property, plant and equipment		7,119		7,974			1,152		1,595			1,146		348			717		20,051
Investments in equity companies		4,566		16,337			293		1,162			870		3,431			(277)		26,382
Total assets		90,310		148,914			17,898		34,024			14,904		21,131			19,015		346,196

As of December 31, 2017
Earnings after income tax		6,622		6,733			1,948		3,649			2,190		2,328			(3,760)		19,710
Earnings of equity companies included above		216		3,618			118		490			90		1,217			(369)		5,380
Sales and other operating revenue		9,349		14,508			61,695		122,881			11,035		17,659			35		237,162
Intersegment revenue		5,729		22,935			14,857		22,263			7,270		5,550			208		-
Depreciation and depletion expense		6,963		9,741			658		883			299		504			845		19,893
Interest revenue		-		-			-		-			-		-			36		36
Interest expense		87		29			1		6			-		-			478		601
Income tax expense (benefit)		(8,552)		5,463			(61)		934			362		664			16		(1,174)
Effect of U.S. tax reform - noncash		(7,602)		480			(618)		-			(335)		-			2,133		(5,942)
Additions to property, plant and equipment		9,761		8,617			769		1,551			1,330		2,019			854		24,901
Investments in equity companies		4,680		14,494			276		1,462			341		3,387			(286)		24,354
Total assets		89,048		155,822			18,172		34,294			13,363		21,133			16,859		348,691

Geographic

Sales and other operating revenue			2019		2018		2017
			(millions of dollars)

United States			89,612		96,930		82,079
Non-U.S.			165,971		182,402		155,083
	Total		255,583		279,332		237,162

Significant non-U.S. revenue sources include: (1)
	Canada		19,735		22,672		20,116
	United Kingdom		17,479		18,702		16,611
	France		12,740		13,637		11,235
	Singapore		12,128		13,689		11,589
	Belgium		11,644		15,664		13,633
	Italy		10,459		13,396		11,476

(1) Revenue is determined by primary country of operations. Excludes certain sales and other operating revenues in Non-U.S. operations where attribution to a specific country is not practicable.

Long-lived assets			2019		2018		2017
			(millions of dollars)

United States			114,372		108,147		105,101
Non-U.S.			138,646		138,954		147,529
	Total		253,018		247,101		252,630

Significant non-U.S. long-lived assets include:
	Canada		39,130		37,433		41,138
	Australia		13,933		14,548		16,908
	Singapore		11,645		11,148		11,292
	Kazakhstan		9,315		9,726		10,121
	Papua New Guinea		8,057		8,269		8,463
	Nigeria		7,640		8,421		9,734
	Angola		5,784		7,021		7,689
	United Arab Emirates		5,262		4,859		4,304
	Russia		5,135		5,456		5,702