Sales and other operating revenue includes sales-based taxes of $22,678 million for 2015, $29,342 million for 2014 and $30,589 million for 2013.
Sales and other operating revenue includes sales-based taxes of $22,678 million for 2015, $29,342 million for 2014 and $30,589 million for 2013. See Note 1, Summary of Accounting Policies.
ExxonMobil share
Undiscounted obligations of $936 million mainly pertain to pipeline throughput agreements and include $411 million of obligations to equity companies. The present value of these commitments, which excludes imputed interest of $144 million, totaled $792 million.
Benefit payments for funded and unfunded plans.
For 2015 and 2014, other postretirement benefits paid are net of $15 million and $21 million of Medicare subsidy receipts, respectively.
Benefit payments for funded plans.
Fair value of assets less benefit obligation shown on the preceding page.
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.
For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges.
For private equity, fair value is generally established by using revenue or earnings multiples or other relevant market data including Initial Public Offerings.
For corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions.
For corporate and government debt securities that are traded on active exchanges, fair value is based on observable quoted prices.
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.
For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input.
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.
For private equity, fair value is generally established by using revenue or earnings multiples or other relevant market data including Initial Public Offerings.
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.
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.
The earnings per common share and earnings per common share - assuming dilution are the same in each period shown.
These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 17 – Pension and Other Postretirement Benefits for additional details.)
Average effective interest rate of 0.3% in 2015 and 0.3% in 2014.
Average effective interest rate of 0.4% in 2015.
Average effective interest rate of 0.5% in 2015 and 0.4% in 2014.
Average effective interest rate of 0.7% in 2015.
Average effective interest rate of 4.6% in 2015 and 4.5% in 2014.
Average effective interest rate of 0.02% in 2015 and 0.03% in 2014.
Average effective interest rate of 3.8% in 2015 and 4.2% in 2014.
Average imputed interest rate of 9.2% in 2015 and 7.0% in 2014.
For real estate funds, fair value is based on appraised values developed using comparable market transactions.
In 2014, state taxes included a favorable adjustment of deferred taxes of approximately $830 million.
Average effective interest rate of 2.1% in 2015 and 2.4% in 2014.