Pension And Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2011

Dec. 31, 2010

Pension And Other Postretirement Benefits [Abstract]

Change In Benefit Obligation Of Pension And Other Postretirement Benefits


	Pension Benefits												Other Postretirement Benefits
	U.S.						Non-U.S.						Other Postretirement Benefits
	2011			2010			2011			2010			2011			2010
	(percent)
Weighted-average assumptions used to determine benefit obligations at December 31
Discount rate		5.00			5.50			4.00			4.80			5.00			5.50
Long-term rate of compensation increase		5.75			5.25			5.40			5.20			5.75			5.25

	(millions of dollars)
Change in benefit obligation
Benefit obligation at January 1	$	15,007		$	13,981		$	25,722		$	23,344		$	7,331		$	6,748
Service cost		546			468			574			480			121			101
Interest cost		792			798			1,267			1,175			393			395
Actuarial loss/(gain)		1,954			553			3,086			1,672			427			277
Benefits paid (1) (2)		(1,264	)		(873	)		(1,470	)		(1,281	)		(473	)		(394	)
Foreign exchange rate changes		–			–			(303	)		169			(11	)		26
Plan amendments, other		–			80			192			163			92			178
Benefit obligation at December 31	$	17,035		$	15,007		$	29,068		$	25,722		$	7,880		$	7,331
Accumulated benefit obligation at December 31	$	14,081		$	12,764		$	25,480		$	22,958		$	–		$	–

(1)

Benefit payments for funded and unfunded plans.

(2)

For 2011 and 2010, other postretirement benefits paid are net of $29 million and $15 million of Medicare subsidy receipts, respectively.

Change In Plan Assets Of Pension And Other Postretirement Benefits


	Pension Benefits												Other Postretirement Benefits
	U.S.						Non-U.S.						Other Postretirement Benefits
	2011			2010			2011			2010			2011			2010
	(millions of dollars)
Change in plan assets
Fair value at January 1	$	10,835		$	10,277		$	16,765		$	15,401		$	558		$	514
Actual return on plan assets		505			1,235			123			1,482			–			63
Foreign exchange rate changes		–			–			(192	)		99			–			–
Company contribution		370			–			1,623			1,184			39			38
Benefits paid (1)		(1,054	)		(677	)		(1,046	)		(873	)		(59	)		(59	)
Other		–			–			(156	)		(528	)		–			2
Fair value at December 31	$	10,656		$	10,835		$	17,117		$	16,765		$	538		$	558

(1)

Benefit payments for funded plans.

Summary Of Assets In Excess Of/(Less Than) Benefit Obligation


	Pension Benefits
	U.S.						Non-U.S.
	2011			2010			2011			2010
	(millions of dollars)
Assets in excess of/(less than) benefit obligation
Balance at December 31
Funded plans	$	(4,141	)	$	(2,349	)	$	(5,319	)	$	(2,769	)
Unfunded plans		(2,238	)		(1,823	)		(6,632	)		(6,188	)
Total	$	(6,379	)	$	(4,172	)	$	(11,951	)	$	(8,957	)

Amounts Recorded In Balance Sheet And Other Comprehensive Income


	Pension Benefits												Other Postretirement Benefits
	U.S.						Non-U.S.						Other Postretirement Benefits
	2011			2010			2011			2010			2011			2010
	(millions of dollars)
Assets in excess of/(less than) benefit obligation
Balance at December 31 (1)	$	(6,379	)	$	(4,172	)	$	(11,951	)	$	(8,957	)	$	(7,342	)	$	(6,773	)

Amounts recorded in the consolidated balance sheet consist of:
Other assets	$	1		$	1		$	245		$	400		$	–		$	–
Current liabilities		(237	)		(257	)		(346	)		(336	)		(341	)		(343	)
Postretirement benefits reserves		(6,143	)		(3,916	)		(11,850	)		(9,021	)		(7,001	)		(6,430	)
Total recorded	$	(6,379	)	$	(4,172	)	$	(11,951	)	$	(8,957	)	$	(7,342	)	$	(6,773	)

Amounts recorded in accumulated other comprehensive income consist of:
Net actuarial loss/(gain)	$	6,475		$	5,028		$	11,170		$	7,795		$	2,291		$	1,985
Prior service cost		74			83			745			674			119			154
Total recorded in accumulated other comprehensive income	$	6,549		$	5,111		$	11,915		$	8,469		$	2,410		$	2,139

(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 Benefits																		Other Postretirement Benefits
	U.S.									Non-U.S.									Other Postretirement Benefits
	2011			2010			2009			2011			2010			2009			2011			2010			2009
Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31		(percent)
Discount rate		5.50			6.00			6.25			4.80			5.20			5.50			5.50			6.00			6.25
Long-term rate of return on funded assets		7.50			7.50			8.00			6.80			6.70			7.30			7.50			7.50			8.00
Long-term rate of compensation increase		5.25			5.25			5.00			5.20			5.00			4.70			5.25			5.25			5.00

Components of net periodic benefit cost		(millions of dollars)
Service cost	$	546		$	468		$	438		$	574		$	480		$	421		$	121		$	101		$	94
Interest cost		792			798			809			1,267			1,175			1,121			393			395			408
Expected return on plan assets		(769	)		(726	)		(656	)		(1,168	)		(1,010	)		(886	)		(41	)		(37	)		(35	)
Amortization of actuarial loss/(gain)		485			525			694			647			554			648			162			147			176
Amortization of prior service cost		9			2			–			103			84			79			35			52			69
Net pension enhancement and curtailment/settlement expense		286			321			485			34			9			2			–			–			–
Net periodic benefit cost	$	1,349		$	1,388		$	1,770		$	1,457		$	1,292		$	1,385		$	670		$	658		$	712
Changes in amounts recorded in accumulated other comprehensive income:
Net actuarial loss/(gain)	$	2,218		$	44		$	(231	)	$	4,133		$	1,202		$	(33	)	$	468		$	251		$	(107	)
Amortization of actuarial (loss)/gain		(771	)		(846	)		(1,179	)		(681	)		(563	)		(650	)		(162	)		(147	)		(176	)
Prior service cost/(credit)		–			80			–			187			160			69			–			26			–
Amortization of prior service (cost)/credit		(9	)		(2	)		–			(103	)		(84	)		(79	)		(35	)		(52	)		(69	)
Foreign exchange rate changes		–			–			–			(90	)		96			608			—			2			2
Total recorded in other comprehensive income		1,438			(724	)		(1,410	)		3,446			811			(85	)		271			80			(350	)
Total recorded in net periodic benefit cost and other comprehensive income, before tax	$	2,787		$	664		$	360		$	4,903		$	2,103		$	1,300		$	941		$	738		$	362

Summary Of Change In Accumulated Other Comprehensive Income


	Total Pension and Other Postretirement Benefits
	2011			2010			2009
(Charge)/credit to other comprehensive income, before tax	(millions of dollars)
U.S. pension	$	(1,438	)	$	724		$	1,410
Non-U.S. pension		(3,446	)		(811	)		85
Other postretirement benefits		(271	)		(80	)		350
Total (charge)/credit to other comprehensive income, before tax		(5,155	)		(167	)		1,845
(Charge)/credit to income tax (see Note 18)		1,495			35			(591	)
(Charge)/credit to investment in equity companies		(30	)		11			(133	)
(Charge)/credit to other comprehensive income including noncontrolling interests, after tax	$	(3,690	)	$	(121	)	$	1,121
Charge/(credit) to equity of noncontrolling interests		288			95			93
(Charge)/credit to other comprehensive income attributable to ExxonMobil	$	(3,402	)	$	(26	)	$	1,214

Fair Value Of The Benefit Plan Assets (Pension)


	U.S. Pension										Non-U.S. Pension
	Fair Value Measurement at December 31, 2011, Using:										Fair Value Measurement at December 31, 2011, Using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total		Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total
	(millions of dollars)										(millions of dollars)
Asset category:
Equity securities
U.S.	$	–	$	2,247	⁽¹⁾	$	–		$	2,247	$	–		$	2,589	⁽¹⁾	$	–		$	2,589
Non-U.S.		–		2,636	⁽¹⁾		–			2,636		194	⁽²⁾		4,835	⁽¹⁾		–			5,029
Private equity		–		–			458	⁽³⁾		458		–			–			393	⁽³⁾		393
Debt securities
Corporate		–		2,728	⁽⁴⁾		–			2,728		2	⁽⁵⁾		1,857	⁽⁴⁾		–			1,859
Government		–		2,482	⁽⁴⁾		–			2,482		186	⁽⁵⁾		6,317	⁽⁴⁾		–			6,503
Asset-backed		–		11	⁽⁴⁾		–			11		–			102	⁽⁴⁾		–			102
Private mortgages		–		–			–			–		–			–			4	⁽⁶⁾		4
Real estate funds		–		–			–			–		–			–			397	⁽⁷⁾		397
Cash		–		71	⁽⁸⁾		–			71		76			13	⁽⁹⁾		–			89
Total at fair value	$	–	$	10,175		$	458		$	10,633	$	458		$	15,713		$	794		$	16,965
Insurance contracts at contract value										23											152
Total plan assets									$	10,656										$	17,117

(1)

For U.S. and non-U.S. equity securities held in the form of fund units that are redeemable at the measurement date, the unit value is treated as a Level 2 input. The fair value of the securities owned by the funds is based on observable quoted prices on active exchanges, which are Level 1 inputs.

(2)

For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges.

(3)

For private equity, fair value is generally established by using revenue or earnings multiples or other relevant market data including Initial Public Offerings.

(4)

For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions.

(5)

For corporate and government debt securities that are traded on active exchanges, fair value is based on observable quoted prices.

(6)

For private mortgages, fair value is based on proprietary credit spread matrices developed using market data and monthly surveys of active mortgage bankers.

(7)

For real estate funds, fair value is based on appraised values developed using comparable market transactions.

(8)

For cash balances held in the form of short-term fund units that are redeemable at the measurement date, the fair value is treated as a Level 2 input.

(9)

For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input.

U.S. Pension											Non-U.S. Pension
	Fair Value Measurement at December 31, 2010, Using:											Fair Value Measurement at December 31, 2010, Using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total
	(millions of dollars)											(millions of dollars)
Asset category:
Equity securities
U.S.	$	–	$	2,648	⁽¹⁾	$	–		$	2,648		$	–		$	2,443	⁽¹⁾	$	–		$	2,443
Non-U.S.		–		3,530	⁽¹⁾		–			3,530			228	⁽²⁾		6,502	⁽¹⁾		–			6,730
Private equity		–		–			408	⁽³⁾		408			–			–			315	⁽³⁾		315
Debt securities
Corporate		–		1,152	⁽⁴⁾		–			1,152			2	⁽⁵⁾		1,629	⁽⁴⁾		–			1,631
Government		–		2,847	⁽⁴⁾		–			2,847			146	⁽⁵⁾		4,709	⁽⁴⁾		–			4,855
Asset-backed		–		31	⁽⁴⁾		–			31			–			98	⁽⁴⁾		–			98
Private mortgages		–		–			128	⁽⁶⁾		128			–			–			4	⁽⁶⁾		4
Real estate funds		–		–			–			–			–			–			417	⁽⁷⁾		417
Cash		68		–			–			68			63			51	⁽⁸⁾		–			114
Total at fair value	$	68	$	10,208		$	536		$	10,812		$	439		$	15,432		$	736		$	16,607
Insurance contracts at contract value										23												158
Total plan assets									$	10,835											$	16,765

(1)

(2)

For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges.

(3)

For private equity, fair value is generally established by using revenue or earnings multiples or other relevant market data including Initial Public Offerings.

(4)

For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions.

(5)

For corporate and government debt securities that are traded on active exchanges, fair value is based on observable quoted prices.

(6)

For private mortgages, fair value is based on proprietary credit spread matrices developed using market data and monthly surveys of active mortgage bankers.

(7)

For real estate funds, fair value is based on appraised values developed using comparable market transactions.

(8)

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

Fair Value Measurement at December 31, 2011, Using:

Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)

Significant

Other

Observable

Inputs

(Level 2)

Significant

Unobservable

Inputs

(Level 3)

Total

(millions of dollars)

Asset category:

Equity securities

U.S.

–

166

⁽¹⁾

–

166

Non-U.S.

–

155

⁽¹⁾

–

155

Private equity

–

⁽²⁾

Debt securities

Corporate

–

⁽³⁾

–

Government

–

120

⁽³⁾

–

120

Asset-backed

–

⁽³⁾

–

Private mortgages

–

Cash

–

Total at fair value

–

531

538

(1)

(2)

For private equity, fair value is generally established by using revenue or earnings multiples or other relevant market data including Initial Public Offerings.

(3)

For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions.


	Other Postretirement
	Fair Value Measurement at December 31, 2010, Using:
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Total
	(millions of dollars)
Asset category:
Equity securities
U.S.	$	–	$	180	⁽¹⁾	$	–		$	180
Non-U.S.		–		191	⁽¹⁾		–			191
Private equity		–		–			5	⁽²⁾		5
Debt securities
Corporate		–		49	⁽³⁾		–			49
Government		–		117	⁽³⁾		–			117
Asset-backed		–		13	⁽³⁾		–			13
Private mortgages		–		–			2	⁽⁴⁾		2
Cash		1		–			–			1
Total at fair value	$	1	$	550		$	7		$	558

(1)

(2)

For private equity, fair value is generally established by using revenue or earnings multiples or other relevant market data including Initial Public Offerings.

(3)

For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions.

(4)

For private mortgages, fair value is based on proprietary credit spread matrices developed using market data and monthly surveys of active mortgage bankers.

Change In Fair Value Of Level 3 Assets


	2011
	Pension												Other Postretirement
	U.S.						Non U.S.
	Private Equity			Private Mortgages			Private Equity		Private Mortgages		Real Estate		Private Equity		Private Mortgages
	(millions of dollars)

Fair value at January 1	$	408		$	128		$	315	$	4	$	417	$	5	$	2

Net realized gains/(losses)		1			5			7		–		3		–		–
Net unrealized gains/(losses)		56			–			33		–		6		2		–
Net purchases/(sales)		(7	)		(133	)		38		–		(29)		–		(2)
Fair value at December 31	$	458		$	–		$	393	$	4	$	397	$	7	$	–


	2010
	Pension														Other Postretirement
	U.S.					Non U.S.
	Private Equity		Private Mortgages			Private Equity			Private Mortgages			Real Estate			Private Equity		Private Mortgages
	(millions of dollars)

Fair value at January 1	$	349	$	280		$	239		$	5		$	413		$	4	$	3

Net realized gains/(losses)		–		36			(1	)		(1	)		–			–		1
Net unrealized gains/(losses)		47		(3	)		26			1			(4	)		1		–
Net purchases/(sales)		12		(185	)		51			(1	)		8			–		(2	)
Fair value at December 31	$	408	$	128		$	315		$	4		$	417		$	5	$	2

Pension Plans With Accumulated Benefit Obligation In Excess Of Plan Assets


	Pension Benefits
	U.S.				Non-U.S.
	2011		2010		2011		2010
	(millions of dollars)
For funded pension plans with an accumulated benefit obligation in excess of plan assets:
Projected benefit obligation	$	14,797	$	13,184	$	17,668	$	9,865
Accumulated benefit obligation		12,606		11,383		16,175		9,074
Fair value of plan assets		10,655		10,834		12,832		7,131

For unfunded pension plans:
Projected benefit obligation	$	2,238	$	1,823	$	6,632	$	6,188
Accumulated benefit obligation		1,475		1,381		5,753		5,413


	Pension Benefits				Other Postretirement Benefits
	U.S.		Non-U.S.		Other Postretirement Benefits
	(millions of dollars)
Estimated 2012 amortization from accumulated other comprehensive income:
Net actuarial loss/(gain) (1)	$	1,033	$	889	$	173
Prior service cost (2)		7		109		34

(1)

The Corporation amortizes the net balance of actuarial losses/(gains) as a component of net periodic benefit cost over the average remaining service period of active plan participants.

(2)

The Corporation amortizes prior service cost on a straight-line basis as permitted under authoritative guidance for defined benefit pension and other postretirement benefit plans.

Expected Contribution Pension Benefits And Other Postretirement Benefits


	Pension Benefits				Other Postretirement Benefits
	U.S.		Non-U.S.		Gross		Medicare Subsidy Receipt
	(millions of dollars)

Contributions expected in 2012	$	1,650	$	1,250	$	–	$	–
Benefit payments expected in:
2012		1,490		1,342		442		23
2013		1,579		1,360		458		25
2014		1,547		1,383		472		26
2015		1,524		1,418		485		27
2016		1,489		1,462		497		28
2017 - 2021		6,616		7,731		2,611		163