
(millions of dollars)	2025			2024			2023
	U.S.	Non-U.S.	Total	U.S.	Non-U.S.	Total	U.S.	Non-U.S.	Total

Income tax expense (benefit) Federal and non-U.S.
Current	143	10,271	10,414	2,061	11,940	14,001	1,987	12,111	14,098
Deferred - net	372	596	968	(318)	(512)	(830)	463	481	944
U.S. tax on non-U.S. operations	175	—	175	241	—	241	315	—	315
Total federal and non-U.S.	690	10,867	11,557	1,984	11,428	13,412	2,765	12,592	15,357
State	(53)	—	(53)	398	—	398	72	—	72
Total income tax expense (benefit)	637	10,867	11,504	2,382	11,428	13,810	2,837	12,592	15,429

All other taxes and duties
Other taxes and duties	3,521	21,646	25,167	3,849	22,439	26,288	3,871	25,140	29,011
Included in production and manufacturing expenses	2,707	628	3,335	2,510	652	3,162	1,961	726	2,687
Included in SG&A expenses	155	273	428	179	265	444	183	310	493
Total other taxes and duties	6,383	22,547	28,930	6,538	23,356	29,894	6,015	26,176	32,191
Total	7,020	33,414	40,434	8,920	34,784	43,704	8,852	38,768	47,620

The above provisions for deferred income taxes include net expenses of $64 million in 2025, net benefits of $28 million in 2024, and net expenses of $24 million in 2023, related to changes in tax laws and rates.

The Company adopted the Financial Accounting Standards Board’s ASU No. 2023‑09, Improvements to Income Tax Disclosures, on a prospective basis for its 2025 annual reporting, in accordance with the transition provisions.


(millions of dollars)	2025
Income (loss) before income taxes
United States	11,000
Non-U.S.	30,268
Total	41,268
U.S. federal statutory theoretical tax	8,666	21	%
Non-U.S. taxes in excess of/(less than) theoretical U.S. tax	4,212	10	%
United Arab Emirates rate differential	3,405	8	%
Qatar	(552)	(1)	%
Effect of equity method of accounting	(620)	(2)	%
Other	68	0	%
All other countries	1,359	3	%
State taxes, net of federal tax benefit	(76)	0	%
Other	(1,298)	(3)	%
Total income tax expense (credit)	11,504	28	%


Income tax expense (credit)	11,504
ExxonMobil share of equity company income taxes	2,046
Total income tax expense (credit)	13,550
Net income (loss) including noncontrolling interests	29,764
Total income (loss) before taxes	43,314

Effective income tax rate	31%


(millions of dollars)	2024	2023

Income (loss) before income taxes
United States	12,258	14,786
Non-U.S.	36,615	37,997
Total	48,873	52,783
Theoretical tax	10,263	11,084
Effect of equity method of accounting	(1,301)	(1,341)
Non-U.S. taxes in excess of/(less than) theoretical U.S. tax	4,986	5,888
State taxes, net of federal tax benefit	314	57
Other	(452)	(259)
Total income tax expense (credit)	13,810	15,429


Income tax expense (credit)	13,810	15,429
ExxonMobil share of equity company income taxes	3,197	3,058
Total income tax expense (credit)	17,007	18,487
Net income (loss) including noncontrolling interests	35,063	37,354
Total income (loss) before taxes	52,070	55,841

Effective income tax rate	33%	33%


(millions of dollars)			2025

Income taxes paid
U.S. Federal			944
U.S. State			170
U.S.			1,114
Canada			1,207
Guyana			1,100
United Arab Emirates			5,000
All Other Countries			3,142
Non-U.S.			10,449
Total income taxes paid			11,563

Deferred income taxes reflect the impact of temporary differences between the amount of assets and liabilities recognized for financial reporting purposes and such amounts recognized for tax purposes.


Tax effects of temporary differences for: (millions of dollars)	2025	2024

Property, plant, and equipment	41,427	40,881
Other liabilities	8,358	8,113
Total deferred tax liabilities	49,785	48,994

Pension and other postretirement benefits	(972)	(1,365)
Asset retirement obligations	(3,249)	(3,156)
Tax loss carryforwards	(4,740)	(4,575)
Other assets	(7,016)	(7,308)
Total deferred tax assets	(15,977)	(16,404)

Asset valuation allowances	2,649	2,516
Net deferred tax liabilities	36,457	35,106


Balance sheet classification (millions of dollars)	2025	2024

Other assets, including intangibles, net	(3,759)	(3,936)
Deferred income tax liabilities	40,216	39,042
Net deferred tax liabilities	36,457	35,106

The Corporation’s undistributed earnings from subsidiary companies outside the United States include amounts that have been retained to fund prior and future capital project expenditures. Deferred income taxes have not been recorded for potential future tax obligations, such as foreign withholding tax and state tax, as these undistributed earnings are expected to be indefinitely reinvested for the foreseeable future. As of December 31, 2025, it is not practicable to estimate the unrecognized deferred tax liability. However, unrecognized deferred taxes on remittance of these funds are not expected to be material.

Unrecognized Tax Benefits. The Corporation is subject to income taxation in many jurisdictions around the world. The benefits of uncertain tax positions that the Corporation has taken or expects to take in its income tax returns are recognized in the financial statements if management concludes that it is more likely than not that the position will be sustained with the tax authorities. For a position that is likely to be sustained, the benefit recognized in the financial statements is measured at the largest amount that is greater than 50 percent likely of being realized. Unrecognized tax benefits reflect the difference between positions taken or expected to be taken on income tax returns and the amounts recognized in the financial statements. The following table summarizes the movement in unrecognized tax benefits:


Gross unrecognized tax benefits (millions of dollars)	2025	2024	2023

Balance at January 1	4,035	3,935	3,398
Additions based on current year's tax positions	206	376	350
Additions for prior years' tax positions	454	103	400
Reductions for prior years' tax positions	(377)	(293)	(38)
Reductions due to lapse of the statute of limitations	(4)	(17)	(25)
Settlements with tax authorities	(150)	(13)	(153)
Foreign exchange effects/other	(33)	(56)	3
Balance at December 31	4,131	4,035	3,935

The gross unrecognized tax benefit balances shown above predominantly relate to tax positions that would reduce the Corporation’s effective tax rate if the positions are favorably resolved. Unfavorable resolution of these tax positions generally would not increase the effective tax rate. The 2025, 2024, and 2023 changes in unrecognized tax benefits did not have a material effect on the Corporation’s net income.

Resolution of these tax positions through negotiations with the relevant tax authorities or through litigation may take many years to complete. It is difficult to predict the timing of resolution for these tax positions since the timing is not entirely within the control of the Corporation. The Corporation has various U.S. federal income tax positions at issue with the Internal Revenue Service for tax years beginning with 2010. Unfavorable resolution of these issues would not have a materially adverse effect on the Corporation’s net income or liquidity.

For 2025, 2024, and 2023 the Corporation's net interest expense on income tax reserves was $99 million, $142 million, and $60 million, respectively. The related interest payable balances were $365 million and $275 million at December 31, 2025 and 2024, respectively.