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assuming dilution (dollars)�[1]Other income for 2008 includes a $62 million gain from the sale of a non-U.S. investment and a related $143 million foreign exchange loss.�[2]Sales and other operating revenue includes sales-based taxes of $25,936 million for 2009, $34,508 million for 2008 and $31,728 million for 2007.7Statement Of Income Alternative (Parenthetical) (USD $)In Millions4Sales and other operating revenue, sales-based taxes9Other income, gain from the sale of a non-U.S. investmentPOther income, foreign exchange loss related to the sale of a non-U.S. investment�[1]Sales and other operating revenue includes sales-based taxes of $25,936 million for 2009, $34,508 million for 2008 and $31,728 million for 2007.2Statement Of Financial Position Classified (USD $)Dec. 31, 2009 Dec. 31, 2008 Current assetsCash and cash equivalentsMarketable securities>Notes and accounts receivable, less estimated doubtful amountsInventories#Crude oil, products and merchandiseMaterials and suppliesOther current assetsTotal current assets/Investments, advances and long-term receivablesSProperty, plant and equipment, at cost, less accumulated depreciation and depletion(Other assets, including intangibles, netTotal assetsCurrent liabilitiesNotes and loans payable(Accounts payable and accrued liabilitiesIncome taxes payableTotal current liabilitiesLong-term debt Postretirement benefits reservesDeferred income tax liabilitiesOther long-term obligationsTotal liabilitiesEquity]Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)Earnings reinvested&Accumulated other comprehensive income2Cumulative foreign exchange translation adjustment+Postretirement benefits reserves adjustment]Common stock held in treasury (3,292 million shares in 2009 and 3,043 million shares in 2008)ExxonMobil share of equityNoncontrolling interestsTotal equityTotal liabilities and equityBStatement Of Financial Position Classified (Parenthetical) (USD $)Share data in MillionsCommon stock, without par valueCommon stock, shares authorizedCommon stock, shares issued%Common stock held in treasury, shares(Statement Of Cash Flows Indirect (USD $)$Cash flows from operating activities$Adjustments for noncash transactions%Deferred income tax charges/(credits)APostretirement benefits expense in excess of/(less than) paymentsGOther long-term obligation provisions in excess of/(less than) paymentsZDividends received greater than/(less than) equity in current earnings of equity companies?Changes in operational working capital, excluding cash and debt4Reduction/(increase) - Notes and accounts receivable - Inventories- Other current assets2Increase/(reduction) - Accounts and other payablesNet (gain) on asset salesAll other items - net)Net cash provided by operating activities$Cash flows from investing activities*Additions to property, plant and equipmentDSales of subsidiaries, investments and property, plant and equipment0Decrease in restricted cash and cash equivalents#Additional investments and advancesCollection of advances"Additions to marketable securitiesSales of marketable securities%Net cash used in investing activities< $Cash flows from financing activitiesAdditions to long-term debtReductions in long-term debtAdditions to short-term debtReductions in short-term debtAAdditions/(reductions) in debt with three months or less maturity)Cash dividends to ExxonMobil shareholders*Cash dividends to noncontrolling interests#Changes in noncontrolling interests*Tax benefits related to stock-based awardsCommon stock acquiredCommon stock sold%Net cash used in financing activities(Effects of exchange rate changes on cash0Increase/(decrease) in cash and cash equivalents.Cash and cash equivalents at beginning of year(Cash and cash equivalents at end of yearGStatement Of Shareholders Equity And Other Comprehensive Income (USD $)Common Stock Earnings Reinvested (Accumulated Other Comprehensive Income Common Stock Held in Treasury ExxonMobil Share of Equity Noncontrolling Interests Total .Beginning Balance (in shares) at Dec. 31, 2006"Beginning Balance at Dec. 31, 2006Restricted stock amortization0Cumulative effect of accounting change (note 18)OtherNet income for the yearDividends - common shares'Foreign exchange translation adjustment5Postretirement benefits reserves adjustment (note 16)lAmortization of postretirement benefits reserves adjustment included in net periodic benefit costs (note 16)Acquisitions, at costDispositionsAcquisitions (in shares)Dispositions (in shares)Ending Balance at Dec. 31, 2007+Ending Balance (in shares) at Dec. 31, 2007GAdjustment for foreign exchange translation loss included in net incomeEnding Balance at Dec. 31, 2008+Ending Balance (in shares) at Dec. 31, 2008Ending Balance at Dec. 31, 2009+Ending Balance (in shares) at Dec. 31, 2009/Statement Of Other Comprehensive Income (USD $)0Other comprehensive income (net of income taxes)DPostretirement benefits reserves adjustment (excluding amortization)bAmortization of postretirement benefits reserves adjustment included in net periodic benefit costs7Comprehensive income including noncontrolling interests=Comprehensive income attributable to noncontrolling interests/Comprehensive income attributable to ExxonMobilSummary of Accounting Policies.12 Months Ended Dec. 31, 2009 USD / shares � 1. Summary of Accounting Policies Principles of Consolidation. The Consolidated Financial Statements include the accounts of those subsidiaries owned directly or indirectly with more than 50 percent of the voting rights held by the Corporation and for which other shareholders do not possess the right to participate in significant management decisions. They also include the Corporations share of the undivided interest in certain upstream assets and liabilities. Amounts representing the Corporations percentage interest in the underlying net assets of other subsidiaries and less-than-majority-owned companies in which a significant ownership percentage interest is held are included in Investments, advances and long-term receivables; the Corporations share of the net income of these companies is included in the Consolidated Statement of Income caption Income from equity affiliates. The Corporations share of the cumulative foreign exchange translation adjustment for equity method investments is reported in the Consolidated Statement of Changes in Equity. Evidence of loss in value that might indicate impairment of investments in companies accounted for on the equity method is assessed to determine if such evidence represents a loss in value of the Corporations investment that is other than temporary. Examples of key indicators include a history of operating losses, a negative earnings and cash flow outlook, significant downward revisions to oil and gas reserves, and the financial condition and prospects for the investees business segment or geographic region. If evidence of an other than temporary loss in fair value below carrying amount is determined, an impairment is recognized. In the absence of market prices for the investment, discounted cash flows are used to assess fair value. Revenue Recognition. The Corporation generally sells crude oil, < natural gas and petroleum and chemical products under short-term agreements at prevailing market prices. In some cases (e.g., natural gas), products may be sold under long-term agreements, with periodic price adjustments. In all cases, revenues are recognized when the products are delivered, which occurs when the customer has taken title and has assumed the risks and rewards of ownership, prices are fixed or determinable and collectibility is reasonably assured. Revenues from the production of natural gas properties in which the Corporation has an interest with other producers are recognized on the basis of the Corporations net working interest. Differences between actual production and net working interest volumes are not significant. Purchases and sales of inventory with the same counterparty that are entered into in contemplation of one another are combined and recorded as exchanges measured at the book value of the item sold. Sales-Based Taxes. The Corporation reports sales, excise and value-added taxes on sales transactions on a gross basis in the Consolidated Statement of Income (included in both revenues and costs). This gross reporting basis is footnoted on the Consolidated Statement of Income. Derivative Instruments. The Corporation makes limited use of derivative instruments. TAccounting Changes� 2. Accounting Changes Fair Value Measurements. Effective January1, 2009, ExxonMobil adopted the authoritative guidance for fair value measurements as they relate to nonfinancial assets and liabilities that are measured at fair value on a nonrecurring basis. The guidance defines fair value, establishes a framework for measuring fair value when an entity is required to use a fair value measure for recognition or disclosure purposes and expands the disclosures about fair value measures. The adoption did not have a material impact on the Corporations financial statements. The Corporation previously adopted the guidance as it relates to financial assets and liabilities that are measured at fair value and for nonfinancial assets and liabilities that are measured at fair value on a recurring basis. Noncontrolling Interests. Effective January1, 2009, ExxonMobil adopted the authoritative guidance on consolidation as it relates to noncontrolling interests. The guidance changed the accounting and reporting for minority interests, which were recharacterized as noncontrolling interests and classified as a component of equity. The guidance requires retrospective adoption of the presentation and disclosure requirements for existing minority interests. All other requirements of the guidance will be applied prospectively. The adoption of the guidance did not have a material impact on the Corporations financial statements. Business Combinations. Effective January1, 2009, ExxonMobil adopted the authoritative guidance for business combinations. This guidance applies prospectively to all transactions in which an entity obtains control of one or more other businesses. In general, the guidance requires the acquiring entity in a business combination to recognize the fair value of all assets acquired and liabilities assumed in the transaction; establishes the acquisition date as the fair value measurement point; and modifies disclosure requirements. It also modifies the accounting treatment for transaction costs by requiring that these be expensed as incurred. The adoption of the guidance did not have a material impact on the Corporations financial statements. Earnings Per Share. Effective January1, 2009, ExxonMobil adopted the authoritative guidance for earnings per share as it relates to determining whether instruments granted in share-based payment transactions are participating securities. The guidance requires that all unvested share-based payment awards that contain nonforfeitable rights to dividends should be included in the basic Earnings Per Share (EPS) calculation. Prior-year EPS numbers have been adjusted retrospectively on a consistent basis with 2009 reporting. This guidance did not affect the consolidated financial posit< ion or results of operations. Oil and Gas Reserves. Effective December31, 2009, ExxonMobil adopted the authoritative guidance for estimating and disclosing oil and gas reserve quantities. Year-end 2009 proved reserve volumes as well as the 2009 reserve change categories were calculated using average prices during the 12-month period. Year-end 2008 and 2007 reserve volumes were calculated using December31 prices. The effect o#Miscellaneous Financial Information 3. Miscellaneous Financial Information Research and development costs totaled $1,050 million in 2009, $847 million in 2008 and $814 million in 2007. Net income included before-tax aggregate foreign exchange transaction gains of $54 million, $54 million and $229 million in 2009, 2008 and 2007, respectively. In 2009, 2008 and 2007, net income included gains of $207 million, $341 million and $327 million, respectively, attributable to the combined effects of LIFO inventory accumulations and draw-downs. The aggregate replacement cost of inventories was estimated to exceed their LIFO carrying values by $17.1 billion and $10.0 billion at December31, 2009, and 2008, respectively. Crude oil, products and merchandise as of year-end 2009 and 2008 consist of the following: 2009 2008 (billionsofdollars) Petroleum products $ 3.2 $ 3.7 Crude oil 3.2 3.1 Chemical products 2.0 2.2 Gas/other 0.3 0.3 Total $ 8.7 $ 9.3 Cash Flow Information� 4. Cash Flow Information The Consolidated Statement of Cash Flows provides information about changes in cash and cash equivalents. Highly liquid investments with maturities of three months or less when acquired are classified as cash equivalents. The Net (gain) on asset sales in net cash provided by operating activities on the Consolidated Statement of Cash Flows includes before-tax gains from the sale of Downstream assets and investments and producing properties in the Upstream in 2009; from the sale of a natural gas transportation business in Germany and other producing properties in the Upstream and Downstream assets and investments in 2008; and from the sale of producing properties in the Upstream and Downstream assets and investments in 2007. These gains are reported in Other income on the Consolidated Statement of Income. The restriction on $4.6 billion of cash and cash equivalents was released in 2007 following an Alabama Supreme Court judgment in ExxonMobils favor. 2009 2008 2007 (millions of dollars) Cash payments for interest $ 820 $ 650 $ 555 Cash payments for income taxes $ 15,427 $ 33,941 $ 26,342 &Additional Working Capital Information 5. Additional Working Capital Information Dec. 31 2009 Dec. 31 2008 (millions of dollars) Notes and accounts receivable Trade, less reserves of $198 million and $219 million $ 22,186 $ 18,707 Other, less reserves of $31 million and $43 million 5,459 5,995 Total $ 27,645 $ 24,702 Notes and loans payable Bank loans $ 1,043 $ 1,139 Commercial paper 201 172 Long-term debt due within one year 348 368 Other 884 721 Total $ 2,476 $ 2,400 Accounts payable and accrued liabilities Trade payables $ 24,236 $ 21,190 Payables to equity companies 4,979 3,552 Accrued taxes other than income taxes 5,921 5,866 Other 6,139 6,035 Total $ 41,275 $ 36,643 On December31, 2009, unused credit lines for short-term financing totaled approximately $4.8 billion. Of this total, $2.3 billion support commercial paper programs under terms negotiated when drawn. The weighted-average interest rate on short-term borrowings outstanding at December31, 2009, and 2008, was 3.6 percent and 5.7 percent, respectively. Equity Company Informat< ion� 6. Equity Company Information The summarized financial information below includes amounts related to certain less-than-majority-owned companies and majority-owned subsidiaries where minority shareholders possess the right to participate in significant management decisions (see note 1). These companies are primarily engaged in crude production, natural gas marketing and refining operations in North America; natural gas production, natural gas distribution and downstream operations in Europe; crude production in Kazakhstan; and liquefied natural gas (LNG) operations in Qatar. Also included are several power generation, refining, petrochemical/lubes manufacturing and chemical ventures. The Corporations ownership in these ventures is in the form of shares in corporate joint ventures as well as interests in partnerships. The share of total equity company revenues from sales to ExxonMobil consolidated companies was 19 percent, 21 percent and 23 percent in the years 2009, 2008 and 2007, respectively. 2009 2008 2007 Equity Company Financial Summary Total ExxonMobil Share Total ExxonMobil Share Total ExxonMobil Share (millions of dollars) Total revenues $ 112,153 $ 36,570 $ 148,477 $ 49,999 $ 109,149 $ 37,724 Income before income taxes $ 28,472 $ 9,632 $ 42,588 $ 15,082 $ 30,505 $ 11,448 Income taxes 7,775 2,489 12,020 4,001 7,557 2,547 Income from equity affiliates $ 20,697 $ 7,143 $ 30,568 $ 11,081 $ 22,948 $ 8,901 Current assets $ 37,376 $ 12,843 $ 29,358 $ 9,920 $ 29,268 $ 10,228 Property, plant and equipment, less accumulated depreciation 85,468 27,134 81,916 25,974 70,591 22,638 Other long-term assets 2,685 849 5,526 2,365 6,667 3,092 Total assets $ 125,529 $ 40,826 $ 116,800 $ 38,259 $ 106,526 $ 35,958 Short-term debt $ 3,632 $ 965 $ 3,462 $ 1,085 $ 3,127 $ 1,117 Other current liabilities 21,222 7,120 22,759 7,622 20,861 7,124 Long-term debt 29,591 4,078 26,075 3,713 19,821 2,269 Other long-term liabilities 10,746 4,252 9,183 3,809 8,142 3,395 Advances from shareholders 17,047 8,669 15,637 7,572 18,422 8,353 Net assets $ 43,291 $ 15,742 $ 39,684 $ 14,458 $ 36,153 $ 13,700 A list of significant equity companies as of December31, 2009, together with the Corporations percentage ownership interest, is detailed below: Percentage Ownership Interest Upstream Aera Energy LLC 48 BEB Erdgas und Erdoel GmbH 50 Cameroon Oil Transportation Company S.A. 41 Castle Peak Power Company Limited 60 Golden Pass LNG Terminal LLC/Investments, Advances and Long-Term Receivables� 7. Investments, Advances and Long-Term Receivables Dec. 31 2009 Dec. 31 2008 (millions of dollars) Companies carried at equity in underlying assets Investments $ 15,742 $ 14,458 Advances 8,669 7,572 $ 24,411 $ 22,030 Companies carried at cost or less and stock investments carried at fair value 1,577 1,636 $ 25,988 $ 23,666 Long-term receivables and miscellaneous investments at cost or less, net of reserves of $368 million and $1,288 million 5,677 4,890 Total $ 31,665 $ 28,556 >Property, Plant and Equipment and Asset Retirement Obligations� 8. Property, Plant and Equipment and Asset Retirement Obligations Dec. 31, 2009 Dec. 31, 200< 8 Property, Plant and Equipment Cost Net Cost Net (millions of dollars) Upstream $ 198,036 $ 88,319 $ 168,977 $ 73,413 Downstream 68,092 30,499 64,618 29,254 Chemical 28,464 13,511 25,463 11,430 Other 11,314 6,787 11,787 7,249 Total $ 305,906 $ 139,116 $ 270,845 $ 121,346 In the Upstream segment, depreciation is generally on a unit-of-production basis, so depreciable life will vary by field. In the Downstream segment, investments in refinery and lubes basestock manufacturing facilities are generally depreciated on a straight-line basis over a 25-year life and service station buildings and fixed improvements over a 20-year life. In the Chemical segment, investments in process equipment are generally depreciated on a straight-line basis over a 20-year life. Accumulated depreciation and depletion totaled $166,790 million at the end of 2009 and $149,499 million at the end of 2008. Interest capitalized in 2009, 2008 and 2007 was $425 million, $510 million and $557 million, respectively. Asset Retirement Obligations The Corporation incurs retirement obligations for its upstream assets. The fair values of these obligations are recorded as liabilities on a discounted basis, which is typically at the time the assets are installed. The Corporation uses estimates, assumptions and judgments regarding such factors as the existence of a legal obligation for an ARO; technical assessments of the assets; estimated amounts and timing of settlements; the credit-adjusted risk-free rate to be used; and inflation rates. AROs incurred in the current period were Level 3 (unobservable inputs) fair value measurements. The costs associated with these liabilities are capitalized as part of the related assets and depreciated as the reserves are produced. Over time, the liabilities are accreted for the change in their present value. Asset retirement obligations for downstream and chemical facilities generally become firm at the time the facilities are permanently shut down and dismantled. These obligations may include the costs of asset disposal and additional soil remediation. However, these sites have indeterminate lives based on plans for continued operations and as such, the fair value of the conditional legal obligations cannot be measured, since it is impossible to estimate the future settlement dates of such obligations. The following table summarizes the activity in the liability for asset retirement obligations: 2009 2008 (millionsofdollars) Beginning balance $ 5,352 $ 5,141 Accretion expense and other provisions 372 335 Reduction due to property sales (18 ) (369 ) Payments made (448 ) (258 ) Liabilities incurred 156 195 Foreign currency translation 535 (837 ) Revisions 2,524 1,145 Ending balance $ 8,473 $ 5,/Accounting for Suspended Exploratory Well Costs� 9. Accounting for Suspended Exploratory Well Costs The Corporation continues capitalization of exploratory well costs beyond one year after the well is completed if (a)the well found a sufficient quantity of reserves to justify its completion as a producing well and (b)sufficient progress is being made in assessing the reserves and the economic and operating viability of the project. The following two tables provide details of the changes in the balance of suspended exploratory well costs as well as an aging summary of those costs. Change in capitalized suspended exploratory well costs: 2009 2008 2007 (millions of dollars) Balance beginning at January1 $ 1,585 $ 1,291 $ 1,305 Additions pending the determination of proved reserves 624 448 228 Charged to expense (51 ) (108 ) Reclassifications to wells, facilities and equipment based on the determination of p< roved reserves (200 ) (101 ) (82 ) Other 47 (53 ) (52 ) Ending balance $ 2,005 $ 1,585 $ 1,291 Ending balance attributed to equity companies included above $ 9 $ 10 $ 3 Period end capitalized suspended exploratory well costs: 2009 2008 2007 (millions of dollars) Capitalized for a period of one year or less $ 624 $ 448 $ 228 Capitalized for a period of between one and five years 924 636 566 Capitalized for a period of between five and ten years 220 225 255 Capitalized for a period of greater than ten years 237 276 242 Capitalized for a period greater than one year subtotal $ 1,381 $ 1,137 $ 1,063 Total $ 2,005 $ 1,585 $ 1,291 Exploration activity often involves drilling multiple wells, over a number of years, to fully evaluate a project. The table below provides a numerical breakdown of the number of projects with suspended exploratory well costs which had their first capitalized well drilled in the preceding 12 months and those that have had exploratory well costs capitalized for a period greater than 12 months. 2009 2008 2007 Number of projects with first capitalized well drilled in the preceding 12 months 18 12 4 Number of projects that have exploratory well costs capitalized for a period of greater than 12 months 57 50 49 Total 75 62 53 Of the 57 projects that have exploratory well costs capitalized for a period greater than 12 months as of December31, 2009, 29 projects have drilling in the preceding 12 months or exploratory activity planned in the next two years, while the remaining 28 projects are those with completed exploratory activity progressing toward development. The table below provides additional detail for those 28 projects, which total $497 million. Country/Project Dec.31,Leased Facilitiesw 10. Leased Facilities At December31, 2009, the Corporation and its consolidated subsidiaries held noncancelable operating charters and leases covering drilling equipment, tankers, service stations and other properties with minimum undiscounted lease commitments totaling $10,365 million as indicated in the table. Estimated related rental income from noncancelable subleases is $128 million. LeasePayments UnderMinimum Commitments Related SubleaseRental Income (millions of dollars) 2010 $ 2,444 $ 16 2011 2,216 14 2012 1,602 13 2013 994 12 2014 749 11 2015 and beyond 2,360 62 Total $ 10,365 $ 128 Net rental cost under both cancelable and noncancelable operating leases incurred during 2009, 2008 and 2007 were as follows: 2009 2008 2007 (millions of dollars) Rental cost $ 4,426 $ 4,115 $ 3,367 Less sublease rental income 98 123 168 Net rental cost $ 4,328 $ 3,992 $ 3,199 Earnings Per ShareR 11. Earnings Per Share 2009 2008 2007 Earnings per common share Net income attributable to ExxonMobil (millions of dollars) $ 19,280 $ 45,220 $ 40,610 Weighted average number of common shares outstanding (millions of shares) 4,832 5,194 5,557 Earnings per common share (dollars) $ 3.99 $ 8.70 $ 7.31 Earnings per common share assuming dilution Net income attributable to ExxonMobil (millions of dollars) $ 19,280 $ 45,220 $ 40,610 Weighted average number of common shares outstanding (millions of shares) 4,832 5,194 5,557 Effec< t of employee stock-based awards 16 27 37 Weighted average number of common shares outstanding assuming dilution 4,848 5,221 5,594 Earnings per common share assuming dilution (dollars) $ 3.98 $ 8.66 $ 7.26 Dividends paid per common share (dollars) $ 1.66 $ 1.55 $ 1.37 %Financial Instruments and Derivatives. 12. Financial Instruments and Derivatives The fair value of financial instruments is determined by reference to various market data and other valuation techniques as appropriate. The estimated fair value of total long-term debt, including capitalized lease obligations, at December31, 2009, and 2008, was $7.7 billion and $7.6 billion, respectively, as compared to recorded book values of $7.1 billion and $7.0 billion. The fair value hierarchy for long-term debt is primarily Level 2 (observable input). The Corporations size, strong capital structure, geographic diversity and the complementary nature of the Upstream, Downstream and Chemical businesses reduce the Corporations enterprise-wide risk from changes in interest rates, currency rates and commodity prices. As a result, the Corporation makes limited use of derivatives to mitigate the impact of such changes. The Corporation does not engage in speculative derivative activities or derivative trading activities nor does it use derivatives with leveraged features. The Corporation maintains a system of controls that includes the authorization, reporting and monitoring of derivative activity. The Corporations limited derivative activities pose no material credit or market risks to ExxonMobils operations, financial condition or liquidity. The estimated fair value of derivatives outstanding and recorded on the balance sheet was a net payable of $5 million at year-end 2009 and a net receivable of $118 million at year-end 2008. This is the amount that the Corporation would have paid to, or received from, third parties if these derivatives had been settled in the open market. The Corporation recognized a before-tax loss of $60 million and a before-tax gain of $89 million and $66 million related to derivatives during 2009, 2008 and 2007, respectively. The fair value of derivatives outstanding at year-end 2009 and loss recognized during the year are immaterial in relation to the Corporations year-end cash balance of $10.7 billion, total assets of $233.3 billion or net income for the year of $19.3 billion. Long-Term Debt� 13. Long-Term Debt At December31, 2009, long-term debt consisted of $6,865 million due in U.S. dollars and $264 million representing the U.S. dollar equivalent at year-end exchange rates of amounts payable in foreign currencies. These amounts exclude that portion of long-term debt, totaling $348 million, which matures within one year and is included in current liabilities. The amounts of long-term debt maturing, together with sinking fund payments required, in each of the four years after December31, 2010, in millions of dollars, are: 2011 $344, 2012 $2,725, 2013 $160 and 2014 $302. At December31, 2009, the Corporations unused long-term credit lines were not material. Summarized long-term debt at year-end 2009 and 2008 are shown in the table below: 2009 2008 (millionsofdollars) SeaRiver Maritime Financial Holdings, Inc. (1) Guaranteed debt securities due 2010-2011 (2) $ 13 $ 26 Guaranteed deferred interest debentures due 2012 Face value net of unamortized discount plus accrued interest 2,144 1,925 Mobil Services (Bahamas) Ltd. Variable notes due 2035 (3) 972 972 Variable notes due 2034 (4) 311 311 Mobil Producing Nigeria Unlimited (5) Variable notes due 2010-2016 621 597 Esso (Thailand) Public Company Ltd. (6) Variable note due 2010-2012 165 236 Mobil Corporation 8.625% debentures due 2021 248 248 Industrial < revenue bonds due 2012-2039 (7) 1,685 1,690 Other U.S. dollar obligations (8) 536 546 Other foreign currency obligations 66 94 Capitalized lease obligations (9) 368 380 Total long-term debt $ 7,129 $ 7,025 (1) Additional information is provided for this subsidiary on the following pages. (2) Average effective interest rate of 1.6% in 2009 and 3.1% in 2008. (3) Average effective interest rate of 0.3% in 2009 and 2.9% in 2008. (4) Average effective interest rate of 0.9% in 2009 and 3.6% in 2008. (5) Average effective interest rate of 5.4% in 2009 and 7.4% in 2008. (6) Average effective interest rate of 2.2% in 2009 and 4.3% in 2008. (7) Average effective interest rate of 0.2% in 2009 and 2.0% in 2008. (8) Average effective interest rate of 5.0% in 2009 and 5.7% in 2008. (9) Average imputed interest rate of 8.8% in 2009 and 8.7% in 2008. Exxon Mobil Corporation has fully and unconditionally guaranteed the deferred interest debentures due 2012 ($2,144 million long-term debt at December31, 2009) and the debt securities due 2010 and 2011 ($13 million long-term and $13 million short-term) of SeaRiver Maritime Financial Holdings, Inc. SeaRiver Maritime Financial Holdings, Inc. is a 100-percent-owned subsidiary of Exxon Mobil Corporation. The following condensed consolidating financial information is provided for Exxon Mobil Corporation, as guarantor, and for SeaRiver Maritime Financial Holdings, Inc., as issuer, as an alternative to providing separate financial statIncentive Program� 14. Incentive Program The 2003 Incentive Program provides for grants of stock options, stock appreciation rights (SARs), restricted stock and other forms of award. Awards may be granted to eligible employees of the Corporation and those affiliates at least 50 percent owned. Outstanding awards are subject to certain forfeiture provisions contained in the program or award instrument. The maximum number of shares of stock that may be issued under the 2003 Incentive Program is 220 million. Awards that are forfeited or expire, or are settled in cash, do not count against this maximum limit. The 2003 Incentive Program does not have a specified term. New awards may be made until the available shares are depleted, unless the Board terminates the plan early. At the end of 2009, remaining shares available for award under the 2003 Incentive Program were 152,591 thousand. As under earlier programs, options and SARs may be granted at prices not less than 100 percent of market value on the date of grant and have a maximum life of 10 years. Most of the options and SARs normally first become exercisable one year following the date of grant. All remaining stock options and SARs outstanding were granted prior to 2002. Long-term incentive awards totaling 10,133thousand, 10,116thousand and 10,226thousand of restricted (nonvested) common stock and restricted (nonvested) common stock units were granted in 2009, 2008 and 2007, respectively. These shares are issued to employees from treasury stock. The total compensation expense is recognized over the requisite service period. The units that are settled in cash are recorded as liabilities and their changes in fair value are recognized over the vesting period. During the applicable restricted periods, the shares may not be sold or transferred and are subject to forfeiture. The majority of the awards have graded vesting periods, with 50 percent of the shares in each award vesting after three years and the remaining 50 percent vesting after seven years. A small number of awards granted to certain senior executives have vesting periods of five years for 50 percent of the award and of 10 years or retirement, whichever occurs later, for the remaining 50 percent of the award. The Corporation has purchased shares in the open market and through negotiated transactions to offset shares issued in conjunction with benefit plans and programs. Purchases may be discontinued at any< time without prior notice. In 2002, the Corporation began issuing restricted stock as share-based compensation in lieu of stock options. Compensation expense for these awards is based on the price of the stock at the date of grant and has been recognized in income over the requisite service period. Prior to 2002, the Corporation issued stock options as share-based compensation and since these awards vested prior to the effective date of current authoritative guidance, they continue to be accounted for under the prior prescribed method. Under this method, compensation expense for awards granted in the form of stock options is measured at the intrinsic value of the options (the difference between the market price of the stock and the exerc"Litigation and Other Contingencies� 15. Litigation and Other Contingencies Litigation A variety of claims have been made against ExxonMobil and certain of its consolidated subsidiaries in a number of pending lawsuits. Management has regular litigation reviews, including updates from corporate and outside counsel, to assess the need for accounting recognition or disclosure of these contingencies. The Corporation accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated. If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued. The Corporation does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote. For contingencies where an unfavorable outcome is reasonably possible and which are significant, the Corporation discloses the nature of the contingency and, where feasible, an estimate of the possible loss. ExxonMobil will continue to defend itself vigorously in these matters. Based on a consideration of all relevant facts and circumstances, the Corporation does not believe the ultimate outcome of any currently pending lawsuit against ExxonMobil will have a materially adverse effect upon the Corporations operations or financial condition. A number of lawsuits, including class actions, were brought in various courts against Exxon Mobil Corporation and certain of its subsidiaries relating to the accidental release of crude oil from the tanker Exxon Valdez in 1989. All the compensatory claims and the punitive damage award have been paid. Other Contingencies The Corporation and certain of its consolidated subsidiaries were contingently liable at December31, 2009, for $8,786 million, primarily relating to guarantees for notes, loans and performance under contracts. Included in this amount were guarantees by consolidated affiliates of $5,629 million, representing ExxonMobils share of obligations of certain equity companies. Dec. 31, 2009 Equity Company Obligations Other Third-Party Obligations Total (millions of dollars) Total guarantees $ 5,629 $ 3,157 $ 8,786 Additionally, the Corporation and its affiliates have numerous long-term sales and purchase commitments in their various business activities, all of which are expected to be fulfilled with no adverse consequences material to the Corporations operations or financial condition. Unconditional purchase obligations as defined by accounting standards are those long-term commitments that are noncancelable or cancelable only under certain conditions, and that third parties have used to secure financing for the facilities that will provide the contracted goods or services. Payments Due by Period 2010 2011- 2014 2015 and Beyond Total (millions of dollars) Unconditional purchase obligations (1) $ 314 $ 902 $ 568 $ 1,784 (1) Undiscounted obli)Pension and Other Postretirement Benefits� 16. Pension and Other Postretirement Benefits The benefit obligations an< d plan assets associated with the Corporations principal benefit plans are measured on December31. Pension Benefits OtherPostretirement Benefits U.S. Non-U.S. 2009 2008 2009 2008 2009 2008 (percent) Weighted-average assumptions used to determine benefit obligations at December31 Discount rate 6.00 6.25 5.20 5.50 6.00 6. 25 Long-term rate of compensation increase 5.00 5.00 5.00 4.70 5.00 5. 00 (millions of dollars) Change in benefit obligation Benefit obligation at January1 $ 13,272 $ 12,062 $ 19,990 $ 22,475 $ 6,633 $ 6,828 Service cost 438 378 421 434 94 100 Interest cost 809 729 1,121 1,152 408 414 Actuarial loss/(gain) 1,126 1,227 1,280 76 (49 ) (243 ) Benefits paid (1) (2) (1,665 ) (1,124 ) (1,174 ) (1,286 ) (480 ) (466 ) Foreign exchange rate changes 1,676 (2,682 ) 60 (83 ) Plan amendments, other 1 30 (179 ) 82 83 Benefit obligation at December31 $ 13,981 $ 13,272 $ 23,344 $ 19,990 $ 6,748 $ 6,633 Accumulated benefit obligation at December31 $ 11,615 $ 11,000 $ 20,909 $ 17,893 $ $ (1) Benefit payments for funded and unfunded plans. (2) For 2009 and 2008, other postretirement benefits paid are net of $28 million and $26 million of Medicare subsidy receipts, respectively. For U.S. plans, the discount rate is determined by constructing a portfolio of high-quality, noncallable bonds with cash flows that match estimated outflows for benefit payments. For major non-U.S. plans, the discount rate is determined by using bond portfolios with an average maturity approximating that of the liabilities or spot yield curves, both of which are constructed using high-quality, local-currency-denominated bonds. The measurement of the accumulated postretirement benefit obligation assumes an initial health care cost trend rate of 6.5 percent that declines to 4.5 percent by 2015. A one-percentage-point increase in the health care cost trend rate would increase service and interest cost by $50 million and the postretirement benefit obligation by $532 million. A one-percentage-point decrease in the health care cost trend rate would decrease service and interest cost by $40 million and the post-retirement benefit obligation by $442 million. Pension Benefits OtherPostretirement Benefits U.S. Non-U.S. 2009 2008 2009 2008 2009 2008 (millions of dollars) Change in plan assets Fair value at January1 $ 6,634 $ 10,617 $ 11,260 $ 2Disclosures about Segments and Related Information� 17. 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 earned and expenses are incurred; (2)whose operating results are r< egularly reviewed by the Corporations chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance; and (3)for which discrete financial information is available. Earnings after income tax include special items, and transfers are at estimated market prices. Earnings for 2009 included a special charge of $140 million in the corporate and financing segment for interest related to the Valdez punitive damages award. Special items included in 2008 after-tax earnings were a $1,620 million gain in Non-U.S. Upstream on the sale of a natural gas transportation business in Germany and special charges of $460 million in the corporate and financing segment related to the Valdez litigation. There were no special items in 2007. Interest expense includes non-debt-related interest expense of $500 million, $498 million and $290 million in 2009, 2008 and 2007, respectively. Higher expenses in 2009 and 2008 primarily reflect interest provisions related to the Valdez litigation. In corporate and financing activities, interest revenue relates to interest earned on cash deposits and marketable securities. Upstream Downstream Chemical Corporateand Financing Corporate Total U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. (millions of dollars) As of December31, 2009 Earnings after income tax $ 2,893 $ 14,214 $ (153 ) $ 1,934 $ 769 $ 1,540 $ (1,917 ) $ 19,280 Earnings of equity companies included above 1,216 5,269 (102 ) 188 164 906 (498 ) 7,143 Sales and other operating revenue (1) 3,406 21,355 76,467 173,404 9,962 16,885 21 301,500 Intersegment revenue 6,718 32,982 10,168 39,190 7,185 6,947 284 Depreciation and depletion expense 1,768 6,376 687 1,665 400 457 564 11,917 Interest revenue 179 179 Interest expense 38 27 10 18 4 1 450 548 Inco#Income, Sales-Based and Other Taxes� 18. Income, Sales-Based and Other Taxes 2009 2008 2007 U.S. Non-U.S. Total U.S. Non-U.S. Total U.S. Non-U.S. Total (millions of dollars) Income taxes Federal and non-U.S. Current $ (838 ) $ 15,830 $ 14,992 $ 3,005 $ 31,377 $ 34,382 $ 4,666 $ 24,329 $ 28,995 Deferred net 650 (665 ) (15 ) 168 1,289 1,457 (439 ) 415 (24 ) U.S. tax on non-U.S. operations 32 32 230 230 263 263 Total federal and non-U.S. (156 ) 15,165 15,009 3,403 32,666 36,069 4,490 24,744 29,234 State 110 110 461 461 630 630 Total income taxes (46 ) 15,165 15,119 3,864 32,666 36,530 5,120 24,744 29,864 Sales-based taxes 6,271 19,665 25,936 6,646 27,862 34,508 7,154 24,574 31,728 All other taxes and duties Other taxes and duties 581 34,238 34,819 1,663 40,056 41,719 1,008 39,945 40,953 Included in production and manufacturing expenses 699 1,318 2,017 915 1,720 2,635 825 1,445 2,270 Included in SGA expenses 197 538 735 209 660 869 215 653 868 <� Total other taxes and duties 1,477 36,094 37,571 2,787 42,436 45,223 2,048 42,043 44,091 Total $ 7,702 $ 70,924 $ 78,626 $ 13,297 $ 102,964 $ 116,261 $ 14,322 $ 91,361 $ 105,683 All other taxes and duties include taxes reported in production and manufacturing and selling, general and administrative (SGA) expenses. The above provisions for deferred income taxes include net credits for the effect of changes in tax laws and rates of $9 million in 2009, $300 million in 2008 and $258 million in 2007. Income taxes (charged)/credited directly to equity were: 2009 2008 2007 (millions of dollars) Cumulative foreign exchange translation adjustment $ (247 ) $ 360 $ (269 ) Postretirement benefits reserves adjustment: Net actuarial loss/(gain) (94 ) 3,361 102 Amortization of actuarial loss/(gain) (649 ) (317 ) (358 ) Prior service cost 20 4 (23 ) Amortization of prior service cost (43 ) (51 ) (60 ) Foreign exchange rate changes 175 (274 ) 132 ToDocument Information Document Type10-KAmendment FlagfalseDocument Period End Date 2009-12-31Entity Information (USD $)Jan. 31, 2010 Jun. 30, 2009 Trading SymbolXOMEntity Registrant NameEXXON MOBIL CORP Entity Central Index Key 0000034088Current Fiscal Year End Date--12-31!Entity Well-known Seasoned IssuerYesEntity Current Reporting StatusEntity Voluntary FilersNoEntity Filer CategoryLarge Accelerated Filer'Entity Common Stock, Shares OutstandingEntity Public Float��9J�� +< ��7!H�"��%��'�[+l{-�0 w2n�4�7��8�S;J5>,|ZU 9��[��d� F��#� d��MbP?_*+��%��" 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