v3.25.4
Pension And Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Change In Benefit Obligation Of Pension And Other Postretirement Benefits
 Pension BenefitsOther Postretirement Benefits
(millions of dollars, except where stated otherwise)U.S.Non-U.S.
202520242025202420252024
 
Weighted-average assumptions used to determine benefit obligations at December 31      
Discount rate (percent)
5.50 5.70 5.00 4.60 5.50 5.80 
Long-term rate of compensation increase (percent)
4.00 4.00 4.30 4.20 4.00 4.00 
Change in benefit obligation
Benefit obligation at January 112,999 13,143 19,198 21,327 4,791 5,014 
Service cost517 499 324 338 75 81 
Interest cost677 671 842 823 262 250 
Actuarial loss/(gain) (1)
218 (441)(1,231)(658)55 (81)
Benefits paid (2)(3)
(1,104)(874)(1,273)(1,240)(449)(534)
Foreign exchange rate changes— — 1,648 (1,274)20 (40)
Amendments, divestments and other (5)(6)
(795)1 (990)(118)138 101 
Benefit obligation at December 3112,512 12,999 18,518 19,198 4,892 4,791 
Accumulated benefit obligation at December 3110,838 11,227 17,210 17,818 — — 
Change In Plan Assets Of Pension And Other Postretirement Benefits
 Pension BenefitsOther Postretirement Benefits
 (millions of dollars)U.S.Non-U.S.
202520242025202420252024
Change in plan assets      
Fair value at January 111,244 11,367 17,378 18,431 364 371 
Actual return on plan assets1,189 286 680 862 40 20 
Foreign exchange rate changes— — 1,364 (1,051)— — 
Company contribution250 300 307 288 29 24 
Benefits paid (4)
(878)(709)(940)(931)(49)(51)
Other (5)(6)
(767)— (641)(221)— — 
Fair value at December 3111,038 11,244 18,148 17,378 384 364 
(1) Actuarial loss/(gain) primarily reflects a lower discount rate in the U.S. and generally higher discount rates outside of the U.S.
(2) Benefit payments for funded and unfunded plans.
(3) For 2024, other postretirement benefits paid are net of $10 million of Medicare subsidy receipts.
(4) Benefit payments for funded plans.
(5) The U.S. ExxonMobil Pension Plan purchased a group annuity contract from an insurer in 2025 for $767 million to transfer obligations to pay future benefits. The transaction did not change the amount of pension benefits payable to transferred participants and did not require additional funding from the plan.
(6) Non-U.S. includes benefit obligation and plan asset reductions in 2025 of $1,059 million and $642 million, respectively, resulting from the divestment of Product Solutions affiliates in France.
Summary Of Assets In Excess Of/(Less Than) Benefit Obligation
 Pension Benefits
(millions of dollars)U.S.Non-U.S.
2025202420252024
Assets in excess of/(less than) benefit obligation 
Balance at December 31    
Funded plans(81)(267)2,879 1,679 
Unfunded plans(1,393)(1,488)(3,249)(3,499)
Total(1,474)(1,755)(370)(1,820)
Amounts Recorded In Balance Sheet And Other Comprehensive Income
 Pension BenefitsOther Postretirement Benefits
(millions of dollars)U.S.Non-U.S.
202520242025202420252024
Assets in excess of/(less than) benefit obligation      
Balance at December 31 (1)
(1,474)(1,755)(370)(1,820)(4,508)(4,427)
Amounts recorded in the Consolidated Balance Sheet consist of:
Other assets3 2 3,175 2,399 — — 
Current liabilities(199)(213)(208)(207)(276)(283)
Postretirement benefits reserves(1,278)(1,544)(3,337)(4,012)(4,232)(4,144)
Total recorded(1,474)(1,755)(370)(1,820)(4,508)(4,427)
Amounts recorded in accumulated other comprehensive income consist of:
Net actuarial loss/(gain)79 631 (532)557 (1,291)(1,421)
Prior service cost(222)(252)447 420 (345)(405)
Total recorded in accumulated other comprehensive income(143)379 (85)977 (1,636)(1,826)
(1) Fair value of assets less benefit obligation shown on the preceding page.
Schedule Of Assumptions, Components Of Benefit Cost And Amounts Recorded In Accumulated Other Comprehensive Income For Pension And Other Postretirement Benefits
 Pension BenefitsOther Postretirement
Benefits
(millions of dollars, except where stated otherwise)U.S.Non-U.S.
202520242023202520242023202520242023
Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31
Discount rate (percent)
5.70 5.30 5.60 4.60 4.30 4.90 5.80 5.30 5.60 
Long-term rate of return on funded assets (percent)
6.00 6.80 5.20 4.70 5.50 4.20 5.30 6.00 4.70 
Long-term rate of compensation increase (percent)
4.00 4.50 4.50 4.20 4.50 5.20 4.00 4.50 4.50 
Components of net periodic benefit cost
Service cost517 499 466 324 338 323 75 81 78 
Interest cost677 671 664 842 823 922 262 250 276 
Expected return on plan assets(596)(724)(532)(838)(955)(688)(16)(20)(14)
Amortization of actuarial loss/(gain)73 83 85 37 97 108 (103)(103)(122)
Amortization of prior service cost(31)(31)(29)59 50 52 (62)(63)(42)
Net pension enhancement and curtailment/settlement cost75 27 29 22 16 5 (1)— — 
Net periodic benefit cost715 525 683 446 369 722 155 145 176 
Changes in amounts recorded in accumulated other comprehensive income:
Net actuarial loss/(gain)(406)(3)(39)(1,073)(611)602 32 (81)154 
Amortization of actuarial (loss)/gain(147)(110)(114)(38)(112)(108)103 103 122 
Prior service cost/(credit)— — (17)19 81 153 — (8)(312)
Amortization of prior service (cost)/credit31 31 29 (59)(44)(52)63 63 42 
Foreign exchange rate changes— — — 89 (102)46 (8)9 (2)
Total recorded in other comprehensive income(522)(82)(141)(1,062)(788)641 190 86 4 
Total recorded in net periodic benefit cost and other comprehensive income, before tax193 443 542 (616)(419)1,363 345 231 180 
Summary Of Change In Accumulated Other Comprehensive Income
A summary of the change in accumulated other comprehensive income is shown in the table below:
Total Pension and Other Postretirement Benefits
 (millions of dollars)
202520242023
 
(Charge)/credit to other comprehensive income, before tax   
U.S. pension522 82 141 
Non-U.S. pension1,062 788 (641)
Other postretirement benefits(190)(86)(4)
Total (charge)/credit to other comprehensive income, before tax1,394 784 (504)
(Charge)/credit to income tax (see Note 5)
(376)(208)180 
(Charge)/credit to investment in equity companies29 24 16 
(Charge)/credit to other comprehensive income including noncontrolling interests, after tax1,047 600 (308)
Charge/(credit) to equity of noncontrolling interests(59)(120)54 
(Charge)/credit to other comprehensive income attributable to ExxonMobil988 480 (254)
Fair Value Of The Benefit Plan Assets (Pension)
The 2025 fair value of the benefit plan assets, including the level within the fair value hierarchy, is shown in the tables below:
 U.S. PensionNon-U.S. Pension
(millions of dollars)
Fair Value Measurement at
December 31, 2025, Using:
Fair Value Measurement at
December 31, 2025, Using:
Level 1Level 2 Level 3Net Asset ValueTotalLevel 1 Level 2 Level 3Net Asset ValueTotal
 
Asset category:            
Equity securities            
U.S.— —  — 2,018 2,018 —  —  — 1,659 1,659 
Non-U.S.— —  — 1,216 1,216 54 (1)—  — 993 1,047 
Private equity— —  — 728 728 —  —  — 337 337 
Debt securities   
Corporate— 985 (2)— 4,238 5,223 —  54 (2)— 3,980 4,034 
Government— 696 (2)— 990 1,686 99 (3)169 (2)— 9,033 9,301 
Asset-backed— —  — 1 1 —  18 (2)— 149 167 
Other— — — — — — — — 33 33 
Real Estate— — — — — — — — 151 151 
Cash— —  — 141 141 11  9 (4)— 1,383 1,403 
Other— 23 — — 23 — — — — — 
Total at fair value— 1,704 — 9,332 11,036 164 250 — 17,718 18,132 
Insurance contracts at contract value   2    16 
Total plan assets   11,038    18,148 
(1) For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges.
(2) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions.
(3) For government debt securities that are traded on active exchanges, fair value is based on observable quoted prices.
(4) For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a level 2 input.
The 2024 fair value of the benefit plan assets, including the level within the fair value hierarchy, is shown in the tables below: 
 U.S. PensionNon-U.S. Pension
 (millions of dollars)
Fair Value Measurement at
December 31, 2024, Using:
Fair Value Measurement at
December 31, 2024, Using:
Level 1Level 2 Level 3Net Asset ValueTotalLevel 1 Level 2 Level 3Net Asset ValueTotal
 
Asset category:            
Equity securities            
U.S.— —  — 2,263 2,263 —  —  — 2,865 2,865 
Non-U.S.— —  — 1,225 1,225 43 (1)—  — 1,560 1,603 
Private equity— —  — 439 439 —  —  — 291 291 
Debt securities   
Corporate— 971 (2)— 4,498 5,469 —  49 (2)— 3,650 3,699 
Government— 592 (2)— 1,126 1,718 77 (3)141 (2)— 8,222 8,440 
Asset-backed— —  — 1 1 —  12 (2)— 180 192 
Other— — — — — — — — 13 13 
Real Estate— — — — — — — — 107 107 
Cash— —  — 113 113 78  6 (4)— 69 153 
Other— 14 — — 14 — — — — — 
Total at fair value— 1,577  — 9,665 11,242 198  208  — 16,957 17,363 
Insurance contracts at contract value   2     15 
Total plan assets   11,244     17,378 
(1) For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges.
(2) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions.
(3) For government debt securities that are traded on active exchanges, fair value is based on observable quoted prices.
(4) For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a level 2 input.
Fair Value Of The Benefit Plan Assets (Other Postretirement)
 Other Postretirement
(millions of dollars)Fair Value Measurement at December 31, 2025, Using: 
Level 1Level 2Level 3Net Asset ValueTotal
 
Asset category:     
Equity securities     
U.S.95 (5)— — — 95 
Non-U.S.41 (5)— — — 41 
Debt securities
Corporate— 58 (6)— — 58 
Government— 185 (6)— — 185 
Asset-backed— 3 (6)— — 3 
Cash— 2 — — 2 
Total at fair value136 248 — — 384 
(5) For equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges.
(6) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions.
 Other Postretirement
(millions of dollars)Fair Value Measurement at December 31, 2024, Using: 
Level 1Level 2Level 3Net Asset ValueTotal
 
Asset category:     
Equity securities     
U.S.92 (5)— — — 92 
Non-U.S.36 (5)— — — 36 
Debt securities
Corporate— 57 (6)— — 57 
Government— 174 (6)— — 174 
Asset-backed— 3 (6)— — 3 
Cash— 2 — — 2 
Total at fair value128 236 — — 364 
(5) For equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges.
(6) For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions.
Schedule of Funded Pension Plans With Benefit Obligation In Excess Of Plan Assets And Unfunded Pension Obligations
A summary of pension plans with an accumulated benefit obligation and projected benefit obligation in excess of plan assets is shown in the table below:
 Pension Benefits
(millions of dollars)U.S.Non-U.S.
2025202420252024
 
For funded pension plans with an accumulated benefit obligation in excess of plan assets:
   
Accumulated benefit obligation— — 127 1,025 
Fair value of plan assets— — 66 574 
For funded pension plans with a projected benefit obligation in
excess of plan assets:
Projected benefit obligation11,107 11,501 1,137 1,982 
Fair value of plan assets11,025 11,232 840 1,261 
For unfunded pension plans:
Projected benefit obligation1,393 1,488 3,249 3,499 
Accumulated benefit obligation1,184 1,229 3,057 3,224 
Expected Contributions and Benefit Payments for Pension Benefits And Other Postretirement Benefits
 Pension BenefitsOther Postretirement Benefits
(millions of dollars)U.S.Non-U.S.GrossMedicare Subsidy Receipt
 
Contributions expected in 2026
— 306 — — 
Benefit payments expected in:
20261,024 1,107 350 1 
20271,017 1,121 347 1 
20281,049 1,135 346 1 
20291,053 1,149 346 1 
20301,060 1,149 348 1 
2031 - 2035
5,701 5,759 1,775 3