MIME-Version: 1.0 X-Document-Type: Workbook Content-Type: multipart/related; boundary="----=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77" This document is a Single File Web Page, also known as a Web Archive file. If you are seeing this message, your browser or editor doesn't support Web Archive files. Please download a browser that supports Web Archive, such as Microsoft Internet Explorer. ------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Workbook.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"

This page should be opened with Microsoft Excel XP or newer.

------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet01.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Document and Entity Information (USD  $)
12 Months Ended
Dec. 31, 2010
Jan. 31, 2011
Jun. 30, 2010
Document Type 10-K
Amendment Flag false
Document Period End Date Dec 31, 2010
Document Fiscal Year Focus 2010
Document Fiscal Period Focus FY
Trading Symbol XOM
Entity Registrant Name EXXON MOBIL CORP
Entity Central Index Key 0000034088
Current Fiscal Year End Date --12-31
Entity Well-known Seasoned Issuer Yes
Entity Current Reporting Status Yes
Entity Voluntary Filers No
Entity Filer Category Large Accelerated Filer
Entity Common Stock, Shares Outstanding 4,958,598,361
Entity Public Float  $ 290,000,000,000
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet02.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
CONSOLIDATED STATEMENT OF INCOME (USD  $)
In Millions, except Per Share data
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Revenues and other income
Sales and other operating revenue  $ 370,125 [1]  $ 301,500 [1]  $ 459,579 [1]
Income from equity affiliates 10,677 7,143 11,081
Other income 2,419 [2] 1,943 [2] 6,699 [2]
Total revenues and other income 383,221 310,586 477,359
Costs and other deductions
Crude oil and product purchases 197,959 152,806 249,454
Production and manufacturing expenses 35,792 33,027 37,905
Selling, general and administrative expenses 14,683 14,735 15,873
Depreciation and depletion 14,760 11,917 12,379
Exploration expenses, including dry holes 2,144 2,021 1,451
Interest expense 259 548 673
Sales-based taxes 28,547 [1] 25,936 [1] 34,508 [1]
Other taxes and duties 36,118 34,819 41,719
Total costs and other deductions 330,262 275,809 393,962
Income before income taxes 52,959 34,777 83,397
Income taxes 21,561 15,119 36,530
Net income including noncontrolling interests 31,398 19,658 46,867
Net income attributable to noncontrolling interests 938 378 1,647
Net income attributable to ExxonMobil  $ 30,460  $ 19,280  $ 45,220
Earnings per common share (dollars)  $ 6.24  $ 3.99  $ 8.7
Earnings per common share - assuming dilution (dollars)  $ 6.22  $ 3.98  $ 8.66
[1] Sales and other operating revenue includes sales-based taxes of  $28,547 million for 2010,  $25,936 million for 2009 and  $34,508 million for 2008.
[2] 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.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet03.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
CONSOLIDATED STATEMENT OF INCOME (Parenthetical) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
CONSOLIDATED STATEMENT OF INCOME
Sales and other operating revenue, sales-based taxes  $ 28,547 [1]  $ 25,936 [1]  $ 34,508 [1]
Other income, gain from the sale of a non-U.S. investment     62
Other income, foreign exchange loss related to the sale of a non-U.S. investment  $ 143
[1] Sales and other operating revenue includes sales-based taxes of  $28,547 million for 2010,  $25,936 million for 2009 and  $34,508 million for 2008.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet04.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
CONSOLIDATED BALANCE SHEET (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Current assets
Cash and cash equivalents  $ 7,825  $ 10,693
Cash and cash equivalents - restricted 628
Marketable securities 2 169
Notes and accounts receivable, less estimated doubtful amounts 32,284 27,645
Inventories
Crude oil, products and merchandise 9,852 8,718
Materials and supplies 3,124 2,835
Other current assets 5,269 5,175
Total current assets 58,984 55,235
Investments, advances and long-term receivables 35,338 31,665
Property, plant and equipment, at cost, less accumulated depreciation and depletion 199,548 139,116
Other assets, including intangibles, net 8,640 7,307
Total assets 302,510 233,323
Current liabilities
Notes and loans payable 2,787 2,476
Accounts payable and accrued liabilities 50,034 41,275
Income taxes payable 9,812 8,310
Total current liabilities 62,633 52,061
Long-term debt 12,227 7,129
Postretirement benefits reserves 19,367 17,942
Deferred income tax liabilities 35,150 23,148
Other long-term obligations 20,454 17,651
Total liabilities 149,831 117,931
Commitments and contingencies    
Equity
Common stock without par value (9,000 million shares authorized, 8,019 million shares issued) 9,371 5,503
Earnings reinvested 298,899 276,937
Accumulated other comprehensive income
Cumulative foreign exchange translation adjustment 5,011 4,402
Postretirement benefits reserves adjustment (9,889) (9,863)
Unrealized gain/(loss) on cash flow hedges 55
Common stock held in treasury (3,040 million shares in 2010 and 3,292 million shares in 2009) (156,608) (166,410)
ExxonMobil share of equity 146,839 110,569
Noncontrolling interests 5,840 4,823
Total equity 152,679 115,392
Total liabilities and equity  $ 302,510  $ 233,323
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet05.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
CONSOLIDATED BALANCE SHEET (Parenthetical) (USD  $)
In Millions, except Per Share data
Dec. 31, 2010
Dec. 31, 2009
Common stock, without par value  $ 0  $ 0
Common stock, shares authorized 9,000 9,000
Common stock, shares issued 8,019 8,019
Common stock held in treasury, shares 3,040 3,292
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet06.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
CONSOLIDATED STATEMENT OF CASH FLOWS (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Cash flows from operating activities
Net income including noncontrolling interests  $ 31,398  $ 19,658  $ 46,867
Adjustments for noncash transactions
Depreciation and depletion 14,760 11,917 12,379
Deferred income tax charges/(credits) (1,135) 1,399
Postretirement benefits expense in excess of/(less than) net payments 1,700 (1,722) 57
Other long-term obligation provisions in excess of/(less than) payments 160 731 (63)
Dividends received greater than/(less than) equity in current earnings of equity companies (596) (483) 921
Changes in operational working capital, excluding cash and debt
Reduction/(increase) - Notes and accounts receivable (5,863) (3,170) 8,641
- Inventories (1,148) 459 (1,285)
- Other current assets 913 132 (509)
Increase/(reduction) - Accounts and other payables 9,943 1,420 (5,415)
Net (gain) on asset sales (1,401) (488) (3,757)
All other items - net (318) (16) 490
Net cash provided by operating activities 48,413 28,438 59,725
Cash flows from investing activities
Additions to property, plant and equipment (26,871) (22,491) (19,318)
Sales of subsidiaries, investments and property, plant and equipment 3,261 1,545 5,985
Decrease/(increase) in restricted cash and cash equivalents (628)
Additional investments and advances (1,239) (2,752) (2,495)
Collection of advances 1,133 724 574
Additions to marketable securities (15) (16) (2,113)
Sales of marketable securities 155 571 1,868
Net cash used in investing activities (24,204) (22,419) (15,499)
Cash flows from financing activities
Additions to long-term debt 1,143 225 79
Reductions in long-term debt (6,224) (68) (192)
Additions to short-term debt 598 1,336 1,067
Reductions in short-term debt (2,436) (1,575) (1,624)
Additions/(reductions) in debt with three months or less maturity 709 (71) 143
Cash dividends to ExxonMobil shareholders (8,948) (8,023) (8,058)
Cash dividends to noncontrolling interests (281) (280) (375)
Changes in noncontrolling interests (7) (113) (419)
Tax benefits related to stock-based awards 122 237 333
Common stock acquired (13,093) (19,703) (35,734)
Common stock sold 1,043 752 753
Net cash used in financing activities (26,924) (27,283) (44,027)
Effects of exchange rate changes on cash (153) 520 (2,743)
Increase/(decrease) in cash and cash equivalents (2,868) (20,744) (2,544)
Cash and cash equivalents at beginning of year 10,693 31,437 33,981
Cash and cash equivalents at end of year  $ 7,825  $ 10,693  $ 31,437
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet07.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
CONSOLIDATED STATEMENT OF CASH FLOWS (Parenthetical) (USD  $)
In Millions
Dec. 31, 2010
Jun. 25, 2010
CONSOLIDATED STATEMENT OF CASH FLOWS
Value of XTO Energy Inc. equity acquired  $ 24,659  $ 24,659
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet08.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (USD  $)
In Millions
Common Stock [Member]
Earnings Reinvested [Member]
Accumulated Other Comprehensive Income [Member]
Common Stock Held in Treasury [Member]
Exxon Mobil Share of Equity [Member]
Noncontrolling Interests [Member]
Outstanding [Member]
Total
Balance at Dec. 31, 2007  $ 4,933  $ 228,518  $ 1,989  $ (113,678)  $ 121,762  $ 4,282  $ 126,044
Balance (in shares) at Dec. 31, 2007 8,019 (2,637) 5,382
Amortization of stock-based awards 618 618 618
Tax benefits related to stock-based awards 315 315 315
Other (552) (552) (552)
Net income for the year 45,220 45,220 1,647 46,867
Dividends - common shares (8,058) (8,058) (375) (8,433)
Foreign exchange translation adjustment (6,964) (6,964) (334) (7,298)
Adjustment for foreign exchange translation loss included in net income 138 138 17 155
Postretirement benefits reserves adjustment (note 16) (5,853) (5,853) (224) (6,077)
Amortization of postretirement benefits reserves adjustment included in net periodic benefit costs (note 16) 759 759 759
Acquisitions, at cost (35,734) (35,734) (675) (36,409)
Dispositions 1,314 1,314 220 1,534
Acquisitions (in shares) (434) (434)
Other dispositions (in shares) 28 28
Balance at Dec. 31, 2008 5,314 265,680 (9,931) (148,098) 112,965 4,558 117,523
Balance (in shares) at Dec. 31, 2008 8,019 (3,043) 4,976
Amortization of stock-based awards 685 685 685
Tax benefits related to stock-based awards 140 140 140
Other (636) (636) (636)
Net income for the year 19,280 19,280 378 19,658
Dividends - common shares (8,023) (8,023) (280) (8,303)
Foreign exchange translation adjustment 3,256 3,256 373 3,629
Postretirement benefits reserves adjustment (note 16) (196) (196) (144) (340)
Amortization of postretirement benefits reserves adjustment included in net periodic benefit costs (note 16) 1,410 1,410 51 1,461
Acquisitions, at cost (19,703) (19,703) (127) (19,830)
Dispositions 1,391 1,391 14 1,405
Acquisitions (in shares) (277) (277)
Other dispositions (in shares) 28 28
Balance at Dec. 31, 2009 5,503 276,937 (5,461) (166,410) 110,569 4,823 115,392
Balance (in shares) at Dec. 31, 2009 8,019 (3,292) 4,727
Amortization of stock-based awards 751 751 751
Tax benefits related to stock-based awards 280 280 280
Other (683) (683) 10 (673)
Net income for the year 30,460 30,460 938 31,398
Dividends - common shares (8,498) (8,498) (281) (8,779)
Foreign exchange translation adjustment 584 584 450 1,034
Adjustment for foreign exchange translation loss included in net income 25 25 25
Postretirement benefits reserves adjustment (note 16) (1,014) (1,014) (147) (1,161)
Amortization of postretirement benefits reserves adjustment included in net periodic benefit costs (note 16) 988 988 52 1,040
Change in fair value of cash flow hedges 184 184 184
Realized (gain)/ loss from settled cash flow hedges included in net income (129) (129) (129)
Acquisitions, at cost (13,903) (13,093) (5) (13,908)
Issued for XTO merger 3,520 21,139 24,659 24,659
Dispositions 1,756 1,756 1,756
Acquisitions (in shares) (199) (199)
Issued for XTO merger (in shares) 416 416
Other dispositions (in shares) 35 35
Balance at Dec. 31, 2010  $ 9,371  $ 298,899  $ (4,823)  $ (156,608)  $ 146,839  $ 5,840  $ 152,679
Balance (in shares) at Dec. 31, 2010 8,019 (3,040) 4,979
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet09.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Net income including noncontrolling interests  $ 31,398  $ 19,658  $ 46,867
Other comprehensive income (net of income taxes)
Foreign exchange translation adjustment 1,034 3,629 (7,298)
Adjustment for foreign exchange translation loss included in net income 25 155
Postretirement benefits reserves adjustment (excluding amortization) (1,161) (340) (6,077)
Amortization of postretirement benefits reserves adjustment included in net periodic benefit costs 1,040 1,461 759
Change in fair value of cash flow hedges 184
Realized (gain)/ loss from settled cash flow hedges included in net income (129)
Comprehensive income including noncontrolling interests 32,391 24,408 34,406
Comprehensive income attributable to noncontrolling interests 1,293 658 1,106
Comprehensive income attributable to ExxonMobil  $ 31,098  $ 23,750  $ 33,300
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet10.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Summary of Accounting Policies
12 Months Ended
Dec. 31, 2010
Summary of Accounting Policies

1. Summary of Accounting Policies

------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet11.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Accounting Changes
12 Months Ended
Dec. 31, 2010
Accounting Changes

2. Accounting Changes

Variable-Interest Entities. Effective January 1, 2010, ExxonMobil adopted the authoritative guidance for variable-interest entities (VIEs). The guidance requires the enterprise to qualitatively assess if it is the primary beneficiary of the VIE and, if so, the VIE must be consolidated. The adoption of the guidance did not have a material impact on the Corporation's financial statements.

------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet12.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Miscellaneous Financial Information
12 Months Ended
Dec. 31, 2010
Miscellaneous Financial Information

3. Miscellaneous Financial Information

Research and development costs totaled  $1,012 million in 2010,  $1,050 million in 2009 and  $847 million in 2008.

Net income included before-tax aggregate foreign exchange transaction losses of  $251 million, and gains of  $54 million and  $54 million in 2010, 2009 and 2008, respectively.

In 2010, 2009 and 2008, net income included gains of  $317 million,  $207 million and  $341 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  $21.3 billion and  $17.1 billion at December 31, 2010, and 2009, respectively.

Crude oil, products and merchandise as of year-end 2010 and 2009 consist of the following:

 

                 
     2010      2009  
     (billions of dollars)  

Petroleum products

    $ 3.5        $ 3.2   

Crude oil

     3.8         3.2   

Chemical products

     2.1         2.0   

Gas/other

     0.5         0.3   
                   

Total

    $ 9.9        $ 8.7   
                   

The December 31, 2010, total cash and cash equivalents balance of  $8,453 million includes  $628 million of restricted funds.

------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet13.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Cash Flow Information
12 Months Ended
Dec. 31, 2010
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 some Upstream Gulf of Mexico and other producing properties, the sale of U.S. service stations and other Downstream assets and investments and the formation of a Chemical joint venture in 2010; from the sale of Downstream assets and investments and producing properties in the Upstream in 2009; and 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. These gains are reported in "Other income" on the Consolidated Statement of Income.

 

     2010      2009      2008  
     (millions of dollars)  

Cash payments for interest

    $ 703        $ 820        $ 650   

Cash payments for income taxes

    $ 18,941        $ 15,427        $ 33,941  
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet14.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Additional Working Capital Information
12 Months Ended
Dec. 31, 2010
Additional Working Capital Information

5. Additional Working Capital Information

 

                 
     Dec. 31
2010
     Dec. 31
2009
 
     (millions of dollars)  

Notes and accounts receivable

                 

Trade, less reserves of  $152 million and  $198 million

    $ 25,439        $ 22,186   

Other, less reserves of  $34 million and  $31 million

     6,845         5,459   
                   

Total

    $ 32,284        $ 27,645   
                   
     

Notes and loans payable

                 

Bank loans

    $ 532        $ 1,043   

Commercial paper

     1,346         201   

Long-term debt due within one year

     345         348   

Other

     564         884   
                   

Total

    $ 2,787        $ 2,476   
                   
     

Accounts payable and accrued liabilities

                 

Trade payables

    $ 30,780        $ 24,236   

Payables to equity companies

     5,450         4,979   

Accrued taxes other than income taxes

     6,778         5,921   

Other

     7,026         6,139   
                   

Total

    $ 50,034        $ 41,275   
                   

On December 31, 2010, unused credit lines for short-term financing totaled approximately  $5.6 billion. Of this total,  $2.8 billion support commercial paper programs under terms negotiated when drawn. The weighted-average interest rate on short-term borrowings outstanding at December 31, 2010, and 2009, was 1.2 percent and 3.6 percent, respectively.

------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet15.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Equity Company Information
12 Months Ended
Dec. 31, 2010
Equity Company Information

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 manufacturing and chemical ventures. The Corporation's 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 18 percent, 19 percent and 21 percent in the years 2010, 2009 and 2008, respectively.

 

                                                 
     2010      2009      2008  

Equity Company Financial Summary

   Total      ExxonMobil
Share
     Total      ExxonMobil
Share
     Total      ExxonMobil
Share
 
     (millions of dollars)  

Total revenues

    $ 153,020        $ 48,355        $ 112,153        $ 36,570        $ 148,477        $ 49,999   
                                                       

Income before income taxes

    $ 48,075        $ 14,735        $ 28,472        $ 9,632        $ 42,588        $ 15,082   

Income taxes

     13,962         4,058         7,775         2,489         12,020         4,001   
                                                       

Income from equity affiliates

    $ 34,113        $ 10,677        $ 20,697        $ 7,143        $ 30,568        $ 11,081   
                                                       
             

Current assets

    $ 48,573        $ 15,860        $ 37,376        $ 12,843        $ 29,358        $ 9,920   

Long-term assets

     90,646         29,805         88,153         27,983         87,442         28,339   
                                                       

Total assets

    $ 139,219        $ 45,665        $ 125,529        $ 40,826        $ 116,800        $ 38,259   
                                                       

Current liabilities

    $ 33,160        $ 10,260        $ 24,854        $ 8,085        $ 26,221        $ 8,707   

Long-term liabilities

     59,596         17,976         57,384         16,999         50,895         15,094   
                                                       

Net assets

    $ 46,463        $ 17,429        $ 43,291        $ 15,742        $ 39,684        $ 14,458   
                                                       

A list of significant equity companies as of December 31, 2010, together with the Corporation's 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

     18       

Nederlandse Aardolie Maatschappij B.V.

     50       

Qatar Liquefied Gas Company Limited

     10       

Qatar Liquefied Gas Company Limited 2

     24       

Ras Laffan Liquefied Natural Gas Company Limited

     25       

Ras Laffan Liquefied Natural Gas Company Limited II

     31       

Ras Laffan Liquefied Natural Gas Company Limited (3)

     30       

South Hook LNG Terminal Company Limited

     24       

Tengizchevroil, LLP

     25       

Terminale GNL Adriatico S.r.l.

     69       
   

Downstream

        

Chalmette Refining, LLC

     50       

Fujian Refining & Petrochemical Co. Ltd.

     25       

Saudi Aramco Mobil Refinery Company Ltd.

     50       
   

Chemical

        

Al-Jubail Petrochemical Company

     50       

Infineum Holdings B.V.

     50       

Saudi Yanbu Petrochemical Co.

     50       

Toray Tonen Specialty Separator Godo Kaisha

     50       
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet16.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Investments, Advances and Long-Term Receivables
12 Months Ended
Dec. 31, 2010
Investments, Advances and Long-Term Receivables

7. Investments, Advances and Long-Term Receivables

 

     Dec. 31
2010
     Dec. 31
2009
 
     (millions of dollars)  

Companies carried at equity in underlying assets

     

Investments

    $ 17,429        $ 15,742   

Advances

     9,286         8,669   
                 
    $ 26,715        $ 24,411   

Companies carried at cost or less and stock investments carried at fair value

     1,557         1,577   
                 
    $ 28,272        $ 25,988   

Long-term receivables and miscellaneous investments at cost or less, net of reserves of  $292 million and  $368 million

     7,066         5,677   
                 

Total

    $ 35,338        $ 31,665   
               
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet17.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Property, Plant and Equipment and Asset Retirement Obligations
12 Months Ended
Dec. 31, 2010
Property, Plant and Equipment and Asset Retirement Obligations

8. Property, Plant and Equipment and Asset Retirement Obligations

 

                                 
     Dec. 31, 2010      Dec. 31, 2009  

Property, Plant and Equipment

   Cost      Net      Cost      Net  
            (millions of dollars)         

Upstream

    $ 264,136        $ 148,152        $ 198,036        $ 88,319   

Downstream

     68,652         30,095         68,092         30,499   

Chemical

     29,524         14,255         28,464         13,511   

Other

     11,626         7,046         11,314         6,787   
                                     

Total

    $ 373,938        $ 199,548        $ 305,906        $ 139,116   
                                     

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  $174,390 million at the end of 2010 and  $166,790 million at the end of 2009. Interest capitalized in 2010, 2009 and 2008 was  $532 million,  $425 million and  $510 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:

 

                 
     2010     2009  
     (millions of dollars)  

Beginning balance

    $ 8,473       $ 5,352   

Accretion expense and other provisions

     563        372   

Reduction due to property sales

     (183     (18

Payments made

     (638     (448

Liabilities incurred

     1,094        156   

Foreign currency translation

     (45     535   

Revisions

     350        2,524   
                  

Ending balance

    $ 9,614       $ 8,473   
                  
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet18.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Accounting for Suspended Exploratory Well Costs
12 Months Ended
Dec. 31, 2010
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:

 

     2010     2009     2008  
     (millions of dollars)  

Balance beginning at January 1

    $ 2,005       $ 1,585       $ 1,291   

Additions pending the determination of proved reserves

     1,103        624        448   

Charged to expense

     (104     (51     —     

Reclassifications to wells, facilities and equipment based on the determination of proved reserves

     (136     (200     (101

Other

     25        47        (53
                        

Ending balance

    $ 2,893       $ 2,005       $ 1,585   
                        

Ending balance attributed to equity companies included above

    $ —         $ 9       $ 10   

Period end capitalized suspended exploratory well costs:

 

     2010      2009      2008  
    

(millions of dollars)

 

Capitalized for a period of one year or less

    $ 1,103        $ 624        $ 448   

Capitalized for a period of between one and five years

     1,294         924         636   

Capitalized for a period of between five and ten years

     278         220         225   

Capitalized for a period of greater than ten years

     218         237         276   
                          

Capitalized for a period greater than one year – subtotal

    $ 1,790        $ 1,381        $ 1,137   
                          

Total

    $ 2,893        $ 2,005        $ 1,585   
                          

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.

 

     2010      2009      2008  

Number of projects with first capitalized well drilled in the preceding 12 months

     9         18         12   

Number of projects that have exploratory well costs capitalized for a period of greater than 12 months

     59         57         50   
                          

Total

     68         75         62   
                          

 

Of the 59 projects that have exploratory well costs capitalized for a period greater than 12 months as of December 31, 2010, 25 projects have drilling in the preceding 12 months or exploratory activity planned in the next two years, while the remaining 34 projects are those with completed exploratory activity progressing toward development. The table below provides additional detail for those 34 projects, which total  $692 million.

 

Country/Project

   Dec 31,
2010
     Years Wells
Drilled
    

Comment

(millions of dollars)       

Angola

        

- Perpetua-Zina-Acacia

    $ 15         2008 - 2009       Oil field near Pazflor development, awaiting capacity in existing/planned infrastructure.

Australia

        

- East Pilchard

     10         2001       Gas field near Kipper/Tuna development, awaiting capacity in existing/planned infrastructure.

Indonesia

        

- Natuna

     118         1981 - 1983       Development activity under way, while continuing discussions with the government on contract terms pursuant to recently executed Heads of Agreement.

Kazakhstan

        

- Kairan

     53         2004 - 2007       Declarations involving field commerciality filed with Kazakhstan government in 2008; progressing commercialization and field development studies.

Nigeria

        

- Bolia

     15         2002 - 2006       Evaluating development plan, while continuing discussions with the government regarding regional hub strategy.

- Bonga North

     34         2004 - 2009       Pursuing alignment with operator and government regarding development plan.

- Bosi

     79         2002 - 2006       Development activity under way while continuing discussions with the government regarding development plan.

- Other (5 projects)

     16         2001 - 2002       Pursuing development of several additional offshore satellite discoveries which will tie back to existing/planned production facilities.

Norway

        

- Gamma

     20         2008 - 2009       Evaluating development plan for tieback to existing production facilities.

- H-North

     15         2007       Discovery near existing facilities in Fram area; evaluating development options.

- Lavrans

     23         1995 - 1999       Development awaiting capacity in existing Kristin production facility; evaluating development concepts for phased ullage scenarios.

- Noatun

     19         2008       Evaluating development plan for tieback to existing production facilities.

- Nyk High

     20         2008       Evaluating field development alternatives.

- Other (8 projects)

     34         1992 - 2009       Evaluating development plans, including potential for tieback to existing production facilities.

Papua New Guinea

        

- Juha

     28         2007       Working on development plans to tie into planned LNG facilities.

United Kingdom

        

- Fram

     55         2009       Progressing development and commercialization plans.

- Other (3 projects)

     21         2001 - 2008       Projects primarily awaiting capacity in existing or planned infrastructure.

United States

        

- Julia Unit

     78         2007 - 2008       Julia Unit owners are progressing development plans and have agreed to share funding on facilities at the Chevron-operated Jack-Saint Malo platform. Suspension of Production for the Julia Unit is under review by the Bureau of Ocean Energy Management, Regulation and Enforcement.

- Tip Top

     31         2009       Evaluating development concept and requisite facility upgrades.

Other

        

- Various (2 projects)

     8         1979 - 1995       Projects primarily awaiting capacity in existing or planned infrastructure.

Total 2010 (34 projects)

    $ 692      
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet19.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Leased Facilities
12 Months Ended
Dec. 31, 2010
Leased Facilities

10. Leased Facilities

At December 31, 2010, 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  $7,776 million as indicated in the table. Estimated related rental income from noncancelable subleases is  $62 million.

 

     Lease Payments
Under Minimum
Commitments
     Related
Sublease Rental
Income
 
     (millions of dollars)  

2011

    $ 2,095        $ 8   

2012

     1,570         8   

2013

     1,061         7   

2014

     731         6   

2015

     581         6   

2016 and beyond

     1,738         27   
                 

Total

    $ 7,776        $ 62   
                 

Net rental cost under both cancelable and noncancelable operating leases incurred during 2010, 2009 and 2008 were as follows:

 

     2010      2009      2008  
     (millions of dollars)  

Rental cost

    $ 3,762        $ 4,426        $ 4,115   

Less sublease rental income

     90         98         123   
                          

Net rental cost

    $ 3,672        $ 4,328        $ 3,992   
                          
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet20.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Earnings Per Share
12 Months Ended
Dec. 31, 2010
Earnings Per Share

11. Earnings Per Share

 

     2010      2009      2008  

Earnings per common share

        

Net income attributable to ExxonMobil (millions of dollars)

    $ 30,460        $ 19,280        $ 45,220   

Weighted average number of common shares outstanding (millions of shares)

     4,885         4,832         5,194   

Earnings per common share (dollars)

    $ 6.24        $ 3.99        $ 8.70   

Earnings per common share – assuming dilution

        

Net income attributable to ExxonMobil (millions of dollars)

    $ 30,460        $ 19,280        $ 45,220   

Weighted average number of common shares outstanding (millions of shares)

     4,885         4,832         5,194   

Effect of employee stock-based awards

     12         16         27   
                          

Weighted average number of common shares outstanding – assuming dilution

     4,897         4,848         5,221   
                          

Earnings per common share – assuming dilution (dollars)

    $ 6.22        $ 3.98        $ 8.66   

Dividends paid per common share (dollars)

    $ 1.74        $ 1.66        $ 1.55
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet21.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Financial Instruments and Derivatives
12 Months Ended
Dec. 31, 2010
Financial Instruments and Derivatives

12. Financial Instruments and Derivatives

Financial Instruments. The fair value of financial instruments is determined by reference to observable market data and other valuation techniques as appropriate. The only category of financial instruments where the difference between fair value and recorded book value is notable is long-term debt. The estimated fair value of total long-term debt, including capitalized lease obligations, was  $12.8 billion and  $7.7 billion at December 31, 2010, and 2009, respectively, as compared to recorded book values of  $12.2 billion and  $7.1 billion at December 31, 2010, and 2009, respectively. The fair value hierarchy for long-term debt is primarily Level 1 (quoted prices for identical assets in active markets).

Derivative Instruments. The Corporation's size, strong capital structure, geographic diversity and the complementary nature of the Upstream, Downstream and Chemical businesses reduce the Corporation's 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.

When the Corporation does enter into derivative transactions, it is to offset exposures associated with interest rates, foreign currency exchange rates and hydrocarbon prices that arise from existing assets, liabilities and forecasted transactions. For derivatives designated as cash flow hedges, the Corporation's activity is intended to manage the price risk posed by physical transactions.

The estimated fair value of derivative instruments outstanding and recorded on the balance sheet was a net asset of  $172 million at year-end 2010 and a net liability of  $5 million at year-end 2009. This is the amount that the Corporation would have received from, or paid to, third parties if these derivatives had been settled in the open market. Assets and liabilities associated with derivatives are predominantly recorded either in "Other current assets" or "Accounts payable and accrued liabilities." The year-end 2010 net asset balance includes the Corporation's outstanding cash flow hedge position, acquired as a result of the XTO merger, of  $219 million. As the current cash flow hedge positions settle, these programs will be discontinued.

The Corporation's fair value measurement of its derivative instruments uses primarily Level 2 inputs (derivatives that are determined by either market prices on an active market for similar assets or by prices quoted by a broker or other market-corroborated prices).

The Corporation recognized a before-tax gain or (loss) related to derivative instruments of  $221 million,  $(73) million and  $154 million during 2010, 2009 and 2008, respectively. Income statement effects associated with derivatives are recorded either in "Sales and other operating revenue" or "Crude oil and product purchases." Of the amount stated above for 2010, cash flow hedges resulted in a before-tax gain of  $218 million. The ineffective portion of derivatives designated as hedges is de minimis.

The principal natural gas futures contracts and swap agreements acquired as part of the XTO merger that are in place as of December 31, 2010, will expire by the end of 2011. The associated volume of natural gas is 250 mcfd at a weighted average NYMEX price of  $7.02 per thousand cubic feet. These derivative contracts qualify for cash flow hedge accounting. The Corporation will receive the cash flow related to these derivative contracts at the price indicated above. However, the amount of the income statement gain or loss realized from these contracts will be limited to the change in fair value of the derivative instruments from the acquisition date of XTO.

The Corporation believes that there are no material market or credit risks to the Corporation's financial position, results of operations or liquidity as a result of the derivative activities described above. The fair value of derivatives outstanding at year-end 2010 and the gain recognized during the year are immaterial.

------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet22.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Long-Term Debt
12 Months Ended
Dec. 31, 2010
Long-Term Debt

13. Long-term Debt

At December 31, 2010, long-term debt consisted of  $11,610 million due in U.S. dollars and  $617 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  $345 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 December 31, 2011, in millions of dollars, are: 2012 –  $3,222, 2013 –  $1,019, 2014 –  $622 and 2015 –  $601. At December 31, 2010, the Corporation's unused long-term credit lines were not material.

Summarized long-term debt at year-end 2010 and 2009 are shown in the table below:

 

     2010      2009  
     (millions of dollars)  

SeaRiver Maritime Financial Holdings, Inc. (1)

  

Guaranteed debt securities due 2011 (2)

    $ —          $ 13   

Guaranteed deferred interest debentures due 2012
– Face value net of unamortized discount plus accrued interest

     2,389         2,144   

XTO Energy Inc. (premium in millions of dollars)

     

7.500% senior note due 2012 includes premium of  $15

     199         —     

5.900% senior note due 2012 includes premium of  $16

     233         —     

6.250% senior note due 2013 includes premium of  $18

     193         —     

4.625% senior note due 2013 includes premium of  $9

     149         —     

5.750% senior note due 2013 includes premium of  $37

     359         —     

4.900% senior note due 2014 includes premium of  $19

     267         —     

5.000% senior note due 2015 includes premium of  $13

     142         —     

5.300% senior note due 2015 includes premium of  $28

     262         —     

5.650% senior note due 2016 includes premium of  $27

     227         —     

6.250% senior note due 2017 includes premium of  $80

     534         —     

5.500% senior note due 2018 includes premium of  $49

     420         —     

6.500% senior note due 2018 includes premium of  $86

     524         —     

6.100% senior note due 2036 includes premium of  $29

     204         —     

6.750% senior note due 2037 includes premium of  $69

     329         —     

6.375% senior note due 2038 includes premium of  $46

     258         —     

Mobil Services (Bahamas) Ltd.

     

Variable note due 2035 (3)

     972         972   

Variable note due 2034 (4)

     311         311   

Mobil Producing Nigeria Unlimited (5)

     

Variable notes due 2012-2017

     415         621   

Esso (Thailand) Public Company Ltd. (6)

     

Variable notes due 2012-2017

     522         165   

Mobil Corporation

     

8.625% debentures due 2021

     248         248   

Industrial revenue bonds due 2012-2040 (7)

     2,247         1,685   

Other U.S. dollar obligations (8)

     454         536   

Other foreign currency obligations

     65         66   

Capitalized lease obligations (9)

     304         368   
                 

Total long-term debt

    $ 12,227        $ 7,129   
                 

 

 

Exxon Mobil Corporation has fully and unconditionally guaranteed the deferred interest debentures due 2012 ( $2,389 million long-term debt at December 31, 2010) and the debt securities due 2011 ( $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 statements for the issuer. The accounts of Exxon Mobil Corporation and SeaRiver Maritime Financial Holdings, Inc. are presented utilizing the equity method of accounting for investments in subsidiaries.

 

     Exxon  Mobil
Corporation

Parent
Guarantor
     SeaRiver
Maritime
Financial
Holdings, Inc.
    All Other
Subsidiaries
     Consolidating
and
Eliminating
Adjustments
    Consolidated  
     (millions of dollars)  

Condensed consolidated statement of income for 12 months ended December 31, 2010

 

Revenues and other income

            

Sales and other operating revenue, including sales-based taxes

    $ 15,382        $ —         $ 354,743        $ —         $ 370,125   

Income from equity affiliates

     28,401         (2     10,589         (28,311     10,677   

Other income

     790         —          1,629         —          2,419   

Intercompany revenue

     39,433         4        332,483         (371,920     —     
                                          

Total revenues and other income

     84,006         2        699,444         (400,231     383,221   
                                          

Costs and other deductions

            

Crude oil and product purchases

     40,788         —          518,961         (361,790     197,959   

Production and manufacturing expenses

     7,627         —          33,400         (5,235     35,792   

Selling, general and administrative expenses

     2,871         —          12,482         (670     14,683   

Depreciation and depletion

     1,761         —          12,999         —          14,760   

Exploration expenses, including dry holes

     251         —          1,893         —          2,144   

Interest expense

     217         246        4,035         (4,239     259   

Sales-based taxes

     —           —          28,547         —          28,547   

Other taxes and duties

     29         —          36,089         —          36,118   
                                          

Total costs and other deductions

     53,544         246        648,406         (371,934     330,262   
                                          

Income before income taxes

     30,462         (244     51,038         (28,297     52,959   

Income taxes

     2         (90     21,649         —          21,561   
                                          

Net income including noncontrolling interests

     30,460         (154     29,389         (28,297     31,398   

Net income attributable to noncontrolling interests

     —           —          938         —          938   
                                          

Net income attributable to ExxonMobil

    $ 30,460        $ (154    $ 28,451        $ (28,297    $ 30,460   
                                          

 

     Exxon  Mobil
Corporation

Parent
Guarantor
    SeaRiver
Maritime
Financial
Holdings, Inc.
    All Other
Subsidiaries
     Consolidating
and
Eliminating
Adjustments
    Consolidated  
    

(millions of dollars)

 

Condensed consolidated statement of income for 12 months ended December 31, 2009

 

Revenues and other income

           

Sales and other operating revenue, including sales-based taxes

    $ 11,352       $ —         $ 290,148        $ —         $ 301,500   

Income from equity affiliates

     19,852        7        7,060         (19,776     7,143   

Other income

     813        —          1,130         —          1,943   

Intercompany revenue

     30,889        4        271,663         (302,556     —     
                                         

Total revenues and other income

     62,906        11        570,001         (322,332     310,586   
                                         

Costs and other deductions

           

Crude oil and product purchases

     31,419        —          411,689         (290,302     152,806   

Production and manufacturing expenses

     7,811        —          30,805         (5,589     33,027   

Selling, general and administrative expenses

     2,574        —          12,852         (691     14,735   

Depreciation and depletion

     1,571        —          10,346         —          11,917   

Exploration expenses, including dry holes

     230        —          1,791         —          2,021   

Interest expense

     1,200        222        5,126         (6,000     548   

Sales-based taxes

     —          —          25,936         —          25,936   

Other taxes and duties

     (29     —          34,848         —          34,819   
                                         

Total costs and other deductions

     44,776        222        533,393         (302,582     275,809   
                                         

Income before income taxes

     18,130        (211     36,608         (19,750     34,777   

Income taxes

     (1,150     (81     16,350         —          15,119   
                                         

Net income including noncontrolling interests

     19,280        (130     20,258         (19,750     19,658   

Net income attributable to noncontrolling interests

     —          —          378         —          378   
                                         

Net income attributable to ExxonMobil

    $ 19,280       $ (130    $ 19,880        $ (19,750    $ 19,280   
                                         

Condensed consolidated statement of income for 12 months ended December 31, 2008

 

Revenues and other income

           

Sales and other operating revenue, including sales-based taxes

    $ 17,481       $ —         $ 442,098        $ —         $ 459,579   

Income from equity affiliates

     45,664        9        11,055         (45,647     11,081   

Other income

     302        —          6,397         —          6,699   

Intercompany revenue

     48,414        45        442,305         (490,764     —     
                                         

Total revenues and other income

     111,861        54        901,855         (536,411     477,359   
                                         

Costs and other deductions

           

Crude oil and product purchases

     48,346        —          669,107         (467,999     249,454   

Production and manufacturing expenses

     8,327        —          35,298         (5,720     37,905   

Selling, general and administrative expenses

     3,349        —          13,364         (840     15,873   

Depreciation and depletion

     1,552        —          10,827         —          12,379   

Exploration expenses, including dry holes

     192        —          1,259         —          1,451   

Interest expense

     3,859        207        13,143         (16,536     673   

Sales-based taxes

     —          —          34,508         —          34,508   

Other taxes and duties

     67        —          41,652         —          41,719   
                                         

Total costs and other deductions

     65,692        207        819,158         (491,095     393,962   
                                         

Income before income taxes

     46,169        (153     82,697         (45,316     83,397   

Income taxes

     949        (56     35,637         —          36,530   
                                         

Net income including noncontrolling interests

     45,220        (97     47,060         (45,316     46,867   

Net income attributable to noncontrolling interests

     —          —          1,647         —          1,647   
                                         

Net income attributable to ExxonMobil

    $ 45,220       $ (97    $ 45,413        $ (45,316    $ 45,220   
                                         

 

     Exxon Mobil
Corporation
Parent
Guarantor
    SeaRiver
Maritime
Financial
Holdings, Inc.
    All Other
Subsidiaries
     Consolidating
and
Eliminating
Adjustments
    Consolidated  
    

(millions of dollars)

 

Condensed consolidated balance sheet for year ended December 31, 2010

 

Cash and cash equivalents

    $ 309       $ —         $ 7,516        $ —         $ 7,825   

Cash and cash equivalents – restricted

     371        —          257         —          628   

Marketable securities

     —          —          2         —          2   

Notes and accounts receivable – net

     2,104        —          30,346         (166     32,284   

Inventories

     1,457        —          11,519         —          12,976   

Other current assets

     239        —          5,030         —          5,269   
                                         

Total current assets

     4,480        —          54,670         (166     58,984   

Investments, advances and long-term receivables

     254,781        446        454,489         (674,378     35,338   

Property, plant and equipment – net

     18,830        —          180,718         —          199,548   

Other long-term assets

     224        12        8,404         —          8,640   

Intercompany receivables

     18,186        2,457        528,405         (549,048     —     
                                         

Total assets

    $ 296,501       $ 2,915       $ 1,226,686        $ (1,223,592    $ 302,510   
                                         

Notes and loans payable

    $ 1,042       $ 13       $ 1,732        $ —         $ 2,787   

Accounts payable and accrued liabilities

     2,987        —          47,047         —          50,034   

Income taxes payable

     —          3        9,975         (166     9,812   
                                         

Total current liabilities

     4,029        16        58,754         (166     62,633   

Long-term debt

     295        2,389        9,543         —          12,227   

Postretirement benefits reserves

     9,660        —          9,707         —          19,367   

Deferred income tax liabilities

     642        107        34,401         —          35,150   

Other long-term liabilities

     5,632        —          14,822         —          20,454   

Intercompany payables

     129,404        382        419,262         (549,048     —     
                                         

Total liabilities

     149,662        2,894        546,489         (549,214     149,831   
                                         

Earnings reinvested

     298,899        (848     132,357         (131,509     298,899   

Other equity

     (152,060     869        542,000         (542,869     (152,060
                                         

ExxonMobil share of equity

     146,839        21        674,357         (674,378     146,839   

Noncontrolling interests

     —          —          5,840         —          5,840   
                                         

Total equity

     146,839        21        680,197         (674,378     152,679   
                                         

Total liabilities and equity

    $ 296,501       $ 2,915       $ 1,226,686        $ (1,223,592    $ 302,510   
                                         

Condensed consolidated balance sheet for year ended December 31, 2009

 

Cash and cash equivalents

    $ 449       $ —         $ 10,244        $ —         $ 10,693   

Marketable securities

     —          —          169         —          169   

Notes and accounts receivable – net

     2,050        —          25,858         (263     27,645   

Inventories

     1,202        —          10,351         —          11,553   

Other current assets

     313        —          4,862         —          5,175   
                                         

Total current assets

     4,014        —          51,484         (263     55,235   

Investments, advances and long-term receivables

     199,110        449        439,712         (607,606     31,665   

Property, plant and equipment – net

     18,015        —          121,101         —          139,116   

Other long-term assets

     207        24        7,076         —          7,307   

Intercompany receivables

     19,637        2,257        442,903         (464,797     —     
                                         

Total assets

    $ 240,983       $ 2,730       $ 1,062,276        $ (1,072,666    $ 233,323   
                                         

Notes and loans payable

    $ 43       $ 13       $ 2,420        $ —         $ 2,476   

Accounts payable and accrued liabilities

     2,779        —          38,496         —          41,275   

Income taxes payable

     —          2        8,571         (263     8,310   
                                         

Total current liabilities

     2,822        15        49,487         (263     52,061   

Long-term debt

     279        2,157        4,693         —          7,129   

Postretirement benefits reserves

     8,673        —          9,269         —          17,942   

Deferred income tax liabilities

     818        151        22,179         —          23,148   

Other long-term liabilities

     5,286        —          12,365         —          17,651   

Intercompany payables

     112,536        382        351,879         (464,797     —     
                                         

Total liabilities

     130,414        2,705        449,872         (465,060     117,931   
                                         

Earnings reinvested

     276,937        (694     109,603         (108,909     276,937   

Other equity

     (166,368     719        497,978         (498,697     (166,368
                                         

ExxonMobil share of equity

     110,569        25        607,581         (607,606     110,569   

Noncontrolling interests

     —          —          4,823         —          4,823   
                                         

Total equity

     110,569        25        612,404         (607,606     115,392   
                                         

Total liabilities and equity

    $ 240,983       $ 2,730       $ 1,062,276        $ (1,072,666    $ 233,323   
                                         

 

     Exxon  Mobil
Corporation

Parent
Guarantor
    SeaRiver
Maritime
Financial
Holdings, Inc
    All Other
Subsidiaries
    Consolidating
and
Eliminating
Adjustments
    Consolidated  
    

(millions of dollars)

 

Condensed consolidated statement of cash flows for 12 months ended December 31, 2010

 

Cash provided by/(used in) operating activities

    $ 35,740       $ 63       $ 18,307       $ (5,697    $ 48,413   
                                        

Cash flows from investing activities

          

Additions to property, plant and equipment

     (2,922     —          (23,949     —          (26,871

Sales of long-term assets

     1,484        —          1,777        —          3,261   

Decrease/(increase) in restricted cash and cash equivalents

     (371     —          (257     —          (628

Net intercompany investing

     (13,966     (200     13,813        353        —     

All other investing, net

     (672     —          706        —          34   
                                        

Net cash provided by/(used in) investing activities

     (16,447     (200     (7,910     353        (24,204
                                        

Cash flows from financing activities

          

Additions to short- and long-term debt

     —          —          1,741        —          1,741   

Reductions in short- and long-term debt

     (3     (13     (8,644     —          (8,660

Additions/(reductions) in debt with three months or less maturity

     997        —          (288     —          709   

Cash dividends

     (8,498     —          (5,697     5,697        (8,498

Common stock acquired

     (13,093     —          —          —          (13,093

Net intercompany financing activity

     —          —          202        (202     —     

All other financing, net

     1,164        150        (286     (151     877   
                                        

Net cash provided by/(used in) financing activities

     (19,433     137        (12,972     5,344        (26,924
                                        

Effects of exchange rate changes on cash

     —          —          (153     —          (153
                                        

Increase/(decrease) in cash and cash equivalents

    $ (140    $ —         $ (2,728    $ —         $ (2,868
                                        

Condensed consolidated statement of cash flows for 12 months ended December 31, 2009

 

Cash provided by/(used in) operating activities

    $ 27,424       $ 72       $ 28,024       $ (27,082    $ 28,438   
                                        

Cash flows from investing activities

          

Additions to property, plant and equipment

     (2,686     —          (19,805     —          (22,491

Sales of long-term assets

     228        —          1,317        —          1,545   

Decrease/(increase) in restricted cash and cash equivalents

     —          —          —          —          —     

Net intercompany investing

     (1,826     (209     1,717        318        —     

All other investing, net

     —          —          (1,473     —          (1,473
                                        

Net cash provided by/(used in) investing activities

     (4,284     (209     (18,244     318        (22,419
                                        

Cash flows from financing activities

          

Additions to short- and long-term debt

     —          —          1,561        —          1,561   

Reductions in short- and long-term debt

     (3     (13     (1,627     —          (1,643

Additions/(reductions) in debt with three months or less maturity

     39        —          (110     —          (71

Cash dividends

     (8,023     —          (27,082     27,082        (8,023

Common stock acquired

     (19,703     —          —          —          (19,703

Net intercompany financing activity

     —          —          168        (168     —     

All other financing, net

     988        150        (392     (150     596   
                                        

Net cash provided by/(used in) financing activities

     (26,702     137        (27,482     26,764        (27,283
                                        

Effects of exchange rate changes on cash

     —          —          520        —          520   
                                        

Increase/(decrease) in cash and cash equivalents

    $ (3,562    $ —         $ (17,182    $ —         $ (20,744
                                        

 

     Exxon Mobil
Corporation
Parent
Guarantor
    SeaRiver
Maritime
Financial
Holdings, Inc.
    All Other
Subsidiaries
    Consolidating
and
Eliminating
Adjustments
    Consolidated  
     (millions of dollars)  

Condensed consolidated statement of cash flows for 12 months ended December 31, 2008

 

Cash provided by/(used in) operating activities

    $ 47,823       $ 68       $ 54,478       $ (42,644    $ 59,725   
                                        

Cash flows from investing activities

          

Additions to property, plant and equipment

     (2,154     —          (17,164     —          (19,318

Sales of long-term assets

     162        —          5,823        —          5,985   

Decrease/(increase) in restricted cash and cash equivalents

     —          —          —          —          —     

Net intercompany investing

     (502     (155     476        181        —     

All other investing, net

     —          —          (2,166     —          (2,166
                                        

Net cash provided by/(used in) investing activities

     (2,494     (155     (13,031     181        (15,499
                                        

Cash flows from financing activities

          

Additions to short- and long-term debt

     —          —          1,146        —          1,146   

Reductions in short- and long-term debt

     (4     (13     (1,799     —          (1,816

Additions/(reductions) in debt with three months or less maturity

     —          —          143        —          143   

Cash dividends

     (8,058     —          (42,644     42,644        (8,058

Common stock acquired

     (35,734     —          —          —          (35,734

Net intercompany financing activity

     —          —          81        (81     —     

All other financing, net

     1,085        100        (793     (100     292   
                                        

Net cash provided by/(used in) financing activities

     (42,711     87        (43,866     42,463        (44,027
                                        

Effects of exchange rate changes on cash

     —          —          (2,743     —          (2,743
                                        

Increase/(decrease) in cash and cash equivalents

    $ 2,618       $ —         $ (5,162    $ —         $ (2,544
                                        
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet23.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Incentive Program
12 Months Ended
Dec. 31, 2010
Incentive 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 2010, remaining shares available for award under the 2003 Incentive Program were 141,939 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 either granted prior to 2002 or were converted XTO stock options as a result of the XTO merger.

Under the terms of the XTO merger agreement, outstanding XTO stock-based awards were converted into ExxonMobil stock-based awards based on the merger exchange ratio. The converted XTO awards, granted under XTO's 1998 or 2004 Stock Incentive Plans, include restricted stock awards, stock options and performance stock awards. The grant date for the converted XTO awards is considered to be the effective date of the merger for purposes of calculating fair value. Compensation cost for the converted XTO awards is recognized in income over the requisite service period. The maximum term of the XTO awards is ten years under the 1998 plan and seven years under the 2004 plan. No additional awards will be issued under either XTO plan. In connection with the closing of the merger, the Corporation also made new grants of restricted stock under the Corporation's 2003 Incentive Program to certain current or former XTO employees as described in more detail below.

Restricted Stock. Excluding XTO merger-related grants, long-term incentive awards totaling 10,648 thousand of restricted (nonvested) common stock and restricted (nonvested) common stock units were granted in 2010. Awards totaling 10,133 thousand and 10,116 thousand of restricted (nonvested) common stock and restricted (nonvested) common stock units were granted in 2009 and 2008, 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.

Additionally, long-term incentive awards totaling 4,206 thousand of restricted (nonvested) common stock were granted in 2010 in association with the XTO merger. This included the granting of 1,423 thousand of restricted common stock awards under the Corporation's 2003 Incentive Program and 2,783 thousand of converted XTO restricted common stock awards. The majority of the converted XTO awards vest in three installments over a period of three years or three and a half years after the initial grant. The remainder of converted XTO awards that were granted to certain senior XTO employees will vest on the first anniversary of the effective date of the merger. Awards granted to certain former senior executives of XTO in connection with consulting agreements negotiated as part of the merger have vesting periods of one year for 50 percent of the award and of two or three years for the remaining 50 percent of the award, depending on the actual term of the consulting engagements.

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 stock-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 stock-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 exercise price of the options) on the date of grant. Since these two prices were the same on the date of grant, no compensation expense has been recognized in income for these awards.

The following tables summarize information about restricted stock and restricted stock units for the year ended December 31, 2010.

 

                 
      2010  

Restricted stock and units outstanding

   Shares     Weighted Average
Grant-Date
Fair Value per Share
 
     (thousands)        

Issued and outstanding at January 1

     43,503       $ 67.52   

2009 award issued in 2010

     10,132       $ 75.40   

Merger-related granted and converted XTO awards

     4,206       $ 59.31   

Vested

     (10,377    $ 61.72   

Forfeited

     (158    $ 67.91   
                  

Issued and outstanding at December 31

     47,306       $ 69.74   
                  

 

                         

Value of restricted stock and units

   2010      2009      2008  

Grant price

    $ 66.07        $ 75.40        $ 78.24   

Value at date of grant:

     (millions of dollars)   

Restricted stock and units settled in stock

    $ 672        $ 711        $ 735   

Merger-related granted and converted XTO awards

     250         —           —     

Units settled in cash

     60         53         56   
                            

Total value

    $ 982        $ 764        $ 791   
                            

As of December 31, 2010, there was  $2,133 million of unrecognized compensation cost related to the nonvested restricted awards. This cost is expected to be recognized over a weighted-average period of 4.3 years. The compensation cost charged against income for the restricted stock and restricted units was  $801 million,  $723 million and  $648 million for 2010, 2009 and 2008, respectively. The income tax benefit recognized in income related to this compensation expense was  $81 million,  $76 million and  $75 million for the same periods, respectively. The fair value of shares and units vested in 2010, 2009 and 2008 was  $718 million,  $763 million and  $438 million, respectively. Cash payments of  $42 million,  $41 million and  $25 million for vested restricted stock units settled in cash were made in 2010, 2009 and 2008, respectively.

 

Performance Stock. The Corporation granted 157 thousand of converted XTO performance stock awards with a grant-date fair value of  $5 million as a result of the merger. Compensation cost for the performance stock awards is based on the estimated grant-date fair value Vesting of XTO performance stock awards depended on the achievement of certain XTO stock thresholds. Upon conversion of these awards to ExxonMobil performance stock awards in connection with the merger, the performance thresholds were adjusted to equivalent market price thresholds for common stock of the Corporation. The performance stock awards are subject to forfeiture if the performance criteria are not met within the maximum term. Otherwise, holders of performance stock awards generally have all voting, dividend and other rights of other common stockholders.

The following table provides information about these converted performance stock awards as of December 31, 2010.

 

         
     Dec, 31, 2010  

Performance stock awards

   Shares  
     (thousands)  

Vesting Price:

        

 $108.49

     38   

 $119.76

     38   

During 2010, 80 thousand performance share awards vested.

Unrecognized compensation cost was  $1 million at December 31, 2010. Compensation expense recognized in 2010 was  $3 million.

Stock Options. The Corporation granted 12,393 thousand of converted XTO stock options with a grant-date fair value of  $182 million as a result of the XTO merger. The grant included 893 thousand of unvested options. The converted XTO stock option awards are accounted for under current authoritative guidance, which requires the measurement and recognition of compensation expense based on estimated grant-date fair values. Upon conversion of these stock options to ExxonMobil stock options in connection with the merger, the performance thresholds were adjusted to equivalent market price thresholds for common stock of the Corporation. These stock options generally vest and become exercisable ratably over a three-year period, and may include a provision for accelerated vesting when the common stock price reaches specified levels. Some stock option tranches vest only when the common stock price reaches specified levels. As of December 31, 2010, unvested stock options of 574 thousand included 130 thousand options that vest ratably over three years and 444 thousand options that vest at stock prices ranging from  $76.08 to  $126.80.

Changes that occurred in the Corporation's stock options in 2010 are summarized below (shares in thousands):

 

                         
     2010         

Stock options

   Shares     Avg. Exercise
Price
     Weighted Average
Remaining Contractual Term
 

Outstanding at January 1

     41,473       $ 40.92            

Merger-related converted XTO awards

     12,393       $ 55.15            

Exercised

     (24,305    $ 43.62            

Forfeited

     (52    $ 45.91            
                           

Outstanding at December 31

     29,509       $ 44.65         2.0 Years   
                           

Exercisable at December 31

     28,935       $ 43.94         1.9 Years   

Unrecognized compensation cost related to the nonvested merger-related converted XTO stock options was  $1 million as of December 31, 2010. Compensation expense recognized in 2010 was  $2 million. No compensation expense was recognized for stock options in 2009 and 2008, as all remaining outstanding stock options were granted prior to 2002 and were fully vested. Cash received from stock option exercises was  $1,043 million,  $752 million and  $753 million for 2010, 2009 and 2008, respectively. The cash tax benefit realized for the options exercised was  $89 million,  $164 million and  $273 million for 2010, 2009 and 2008, respectively. The aggregate intrinsic value of stock options exercised in 2010, 2009 and 2008 was  $539 million,  $563 million and  $894 million, respectively. The intrinsic value for the balance of outstanding stock options at December 31, 2010, was  $868 million. The intrinsic value for the balance of exercisable stock options at December 31, 2010 was  $865 million.

 

Estimated Fair Value of XTO Merger-Related Grants. For restricted stock grants, the fair value was equal to the price of the common stock on the grant date. For the converted XTO stock options and performance stock, the Corporation used a Monte Carlo simulation model to estimate fair value. The Monte Carlo simulation model requires inputs for the risk-free interest rate, dividend yield, volatility, contract term, target vesting price, post-vesting turnover rate and sub-optimal exercise factor. Expected life, derived vesting period and fair value are outputs of this model.

The risk-free interest rate is based on the constant maturity nominal rates of U.S. Treasury securities with remaining lives throughout the contract term on the day of the grant. The dividend yield is the expected common stock annual dividend yield over the expected life of the option or performance stock, expressed as a percentage of the stock price on the date of grant. The volatility factors are based on a combination of both the historical volatilities of ExxonMobil's stock and the implied volatility of traded options on ExxonMobil common stock. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by certain employees who receive stock option grants, and subsequent events are not indicative of the reasonableness of the original fair value estimates.

The total estimated fair value calculated at the time of the merger for the converted XTO stock-based awards was  $352 million.

Fair values were determined using the following assumptions:

 

         

Weighted average expected term

     2.5 years       

Range of risk-free interest rates

     0.1% - 2.6%     
   

Weighted average risk-free interest rates

     0.9%         

Dividend yield

     3.0%         
   

Weighted average volatility

     28.5%         

Range of volatility

     22.5% - 33.6%   
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet24.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Litigation and Other Contingencies
12 Months Ended
Dec. 31, 2010
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 Corporation's operations, financial condition, or financial statements taken as a whole.

 

Other Contingencies. The Corporation and certain of its consolidated subsidiaries were contingently liable at December 31, 2010, for  $8,771 million, primarily relating to guarantees for notes, loans and performance under contracts. Included in this amount were guarantees by consolidated affiliates of  $5,290 million, representing ExxonMobil's share of obligations of certain equity companies.

 

     Dec. 31, 2010  
     Equity
Company
Obligations
     Other
Third-Party
Obligations
     Total  
     (millions of dollars)  

Guarantees

    $ 5,290        $ 3,481        $ 8,771   

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 Corporation's 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  
     2011      2012-
2015
     2016
and
Beyond
     Total  
     (millions of dollars)  

Unconditional purchase obligations (1)

    $ 287        $ 748        $ 487        $ 1,522   

 

(1)

In accordance with a nationalization decree issued by Venezuela's president in February 2007, by May 1, 2007, a subsidiary of the Venezuelan National Oil Company (PdVSA) assumed the operatorship of the Cerro Negro Heavy Oil Project. This Project had been operated and owned by ExxonMobil affiliates holding a 41.67 percent ownership interest in the Project. The decree also required conversion of the Cerro Negro Project into a "mixed enterprise" and an increase in PdVSA's or one of its affiliate's ownership interest in the Project, with the stipulation that if ExxonMobil refused to accept the terms for the formation of the mixed enterprise within a specified period of time, the government would "directly assume the activities" carried out by the joint venture. ExxonMobil refused to accede to the terms proffered by the government, and on June 27, 2007, the government expropriated ExxonMobil's 41.67 percent interest in the Cerro Negro Project.

On September 6, 2007, affiliates of ExxonMobil filed a Request for Arbitration with the International Centre for Settlement of Investment Disputes (ICSID) invoking ICSID jurisdiction under Venezuela's Investment Law and the Netherlands-Venezuela Bilateral Investment Treaty. The ICSID Tribunal issued a decision on June 10, 2010, finding that it had jurisdiction to proceed on the basis of the Netherlands-Venezuela Bilateral Investment Treaty. The ICSID arbitration proceeding is continuing and a hearing on the merits is currently scheduled for the first quarter of 2012. An affiliate of ExxonMobil has also filed an arbitration under the rules of the International Chamber of Commerce (ICC) against PdVSA and a PdVSA affiliate for breach of their contractual obligations under certain Cerro Negro Project agreements. A hearing on the merits of the ICC arbitration concluded in September 2010 and the parties filed post-hearing briefs. At this time, the net impact of this matter on the Corporation's consolidated financial results cannot be reasonably estimated. However, the Corporation does not expect the resolution to have a material effect upon the Corporation's operations or financial condition. ExxonMobil's remaining net book investment in Cerro Negro producing assets is about  $750 million.

------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet25.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits
12 Months Ended
Dec. 31, 2010
Pension and Other Postretirement Benefits

16. Pension and Other Postretirement Benefits

The benefit obligations and plan assets associated with the Corporation's principal benefit plans are measured on December 31.

 

     Pension Benefits     Other  Postretirement
Benefits
 
     U.S.     Non-U.S.    
     2010     2009     2010     2009     2010     2009  
    

(percent)

 

Weighted-average assumptions used to determine benefit obligations at December 31

            

Discount rate

     5.50        6.00        4.80        5.20        5.50        6.00   

Long-term rate of compensation increase

     5.00        5.00        5.20        5.00        5.00        5.00   
     (millions of dollars)  

Change in benefit obligation

  

Benefit obligation at January 1

    $ 13,981       $ 13,272       $ 23,344       $ 19,990       $ 6,748       $ 6,633   

Service cost

     468        438        480        421        101        94   

Interest cost

     798        809        1,175        1,121        395        408   

Actuarial loss/(gain)

     553        1,126        1,672        1,280        277        (49

Benefits paid (1) (2)

     (873     (1,665     (1,281     (1,174     (394     (480

Foreign exchange rate changes

     —          —          169        1,676        26        60   

Plan amendments, other

     80        1        163        30        178        82   
                                                

Benefit obligation at December 31

    $ 15,007       $ 13,981       $ 25,722       $ 23,344       $ 7,331       $ 6,748   
                                                

Accumulated benefit obligation at December 31

    $ 12,764       $ 11,615       $ 22,958       $ 20,909       $ —         $ —     

 

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 6.0 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  $57 million and the postretirement benefit obligation by  $599 million. A one-percentage-point decrease in the health care cost trend rate would decrease service and interest cost by  $45 million and the post-retirement benefit obligation by  $494 million.

 

     Pension Benefits     Other  Postretirement
Benefits
 
     U.S.     Non-U.S.    
     2010     2009     2010     2009     2010     2009  
    

(millions of dollars)

 

Change in plan assets

          

Fair value at January 1

    $ 10,277       $ 6,634       $ 15,401       $ 11,260       $ 514       $ 443   

Actual return on plan assets

     1,235        2,013        1,482        2,201        63        93   

Foreign exchange rate changes

     —          —          99        1,300        —          —     

Company contribution

     —          3,070        1,184        1,456        38        36   

Benefits paid (1)

     (677     (1,440     (873     (795     (59     (57

Other

     —          —          (528     (21     2        (1
                                                

Fair value at December 31

    $ 10,835       $ 10,277       $ 16,765       $ 15,401       $ 558       $ 514   
                                                

 

 

The funding levels of all qualified pension plans are in compliance with standards set by applicable law or regulation. As shown in the table below, certain smaller U.S. pension plans and a number of non-U.S. pension plans are not funded because local tax conventions and regulatory practices do not encourage funding of these plans. All defined benefit pension obligations, regardless of the funding status of the underlying plans, are fully supported by the financial strength of the Corporation or the respective sponsoring affiliate.

 

     Pension Benefits  
     U.S.     Non-U.S.  
     2010     2009     2010     2009  
     (millions of dollars)  

Assets in excess of/(less than) benefit obligation

  

Balance at December 31

        

Funded plans

    $ (2,349    $ (1,940    $ (2,769    $ (2,085

Unfunded plans

     (1,823     (1,764     (6,188     (5,858
                                

Total

    $ (4,172    $ (3,704    $ (8,957    $ (7,943
                                

The authoritative guidance for defined benefit pension and other post-retirement plans requires an employer to recognize the overfunded or underfunded status of a defined benefit postretirement plan as an asset or liability in its statement of financial position and to recognize changes in that funded status in the year in which the changes occur through other comprehensive income.

 

     Pension Benefits     Other  Postretirement
Benefits
 
     U.S.     Non-U.S.    
     2010     2009     2010     2009     2010     2009  
     (millions of dollars)  

Assets in excess of/(less than) benefit obligation

          

Balance at December 31 (1)

    $ (4,172    $ (3,704    $ (8,957    $ (7,943    $ (6,773    $ (6,234
                                                

Amounts recorded in the consolidated balance sheet consist of:

            

Other assets

    $ 1       $ 1       $ 400       $ 961       $ —         $ —     

Current liabilities

     (257     (235     (336     (348     (343     (318

Postretirement benefits reserves

     (3,916     (3,470     (9,021     (8,556     (6,430     (5,916
                                                

Total recorded

    $ (4,172    $ (3,704    $ (8,957    $ (7,943    $ (6,773    $ (6,234
                                                

Amounts recorded in accumulated other comprehensive income consist of:

            

Net actuarial loss/(gain)

    $ 5,028       $ 5,830       $ 7,795       $ 7,036       $ 1,985       $ 1,878   

Prior service cost

     83        5        674        622        154        181   
                                                

Total recorded in accumulated other comprehensive income

    $ 5,111       $ 5,835       $ 8,469       $ 7,658       $ 2,139       $ 2,059   
                                                

 

 

The long-term expected rate of return on funded assets shown below is established for each benefit plan by developing a forward-looking, long-term return assumption for each asset class, taking into account factors such as the expected real return for the specific asset class and inflation

A single, long-term rate of return is then calculated as the weighted average of the target asset allocation and the long-term return assumption for each asset class.

 

     Pension Benefits     Other Postretirement  
     U.S.     Non-U.S.     Benefits  
     2010     2009     2008     2010     2009     2008     2010     2009     2008  
    

(percent)

 

Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31

                  

Discount rate

     6.00        6.25        6.25        5.20        5.50        5.40        6.00        6.25        6.25   

Long-term rate of return on funded assets

     7.50        8.00        9.00        6.70        7.30        7.50        7.50        8.00        9.00   

Long-term rate of compensation increase

     5.00        5.00        5.00        5.00        4.70        4.50        5.00        5.00        5.00   
    

(millions of dollars)

 

Components of net periodic benefit cost

              

Service cost

    $ 468       $ 438       $ 378       $ 480       $ 421       $ 434       $ 101       $ 94       $ 100   

Interest cost

     798        809        729        1,175        1,121        1,152        395        408        414   

Expected return on plan assets

     (726     (656     (915     (1,010     (886     (1,200     (37     (35     (59

Amortization of actuarial loss/(gain)

     525        694        239        554        648        318        147        176        197   

Amortization of prior service cost

     2        —          (2     84        79        93        52        69        76   

Net pension enhancement and curtailment/settlement expense

     321        485        174        9        2        32        —          —          —     
                                                                        

Net periodic benefit cost

    $ 1,388       $ 1,770       $ 603       $ 1,292       $ 1,385       $ 829       $ 658       $ 712       $ 728   
                                                                        

Changes in amounts recorded in accumulated other comprehensive income:

                  

Net actuarial loss/(gain)

    $ 44       $ (231    $ 5,275       $ 1,202       $ (33    $ 4,837       $ 251       $ (107    $ 13   

Amortization of actuarial (loss)/gain

     (846     (1,179     (413     (563     (650     (350     (147     (176     (197

Prior service cost/(credit)

     80        —          —          160        69        16        26        —          —     

Amortization of prior service (cost)

     (2     —          2        (84     (79     (93     (52     (69     (76

Foreign exchange rate changes

     —          —          —          96        608        (997     2        2        (3
                                                                        

Total recorded in other comprehensive income

     (724     (1,410     4,864        811        (85     3,413        80        (350     (263

Total recorded in net periodic benefit cost and other comprehensive income, before tax

    $ 664       $ 360       $ 5,467       $ 2,103       $ 1,300       $ 4,242       $ 738       $ 362       $ 465   
                                                                        

Costs for defined contribution plans were  $347 million,  $339 million and  $309 million in 2010, 2009 and 2008, respectively.

A summary of the change in accumulated other comprehensive income is shown in the table below:

 

     Total Pension and Other Postretirement Benefits  
     2010     2009     2008  
     (millions of dollars)  

(Charge)/credit to other comprehensive income, before tax

  

U.S. pension

    $ 724       $ 1,410       $ (4,864

Non-U.S. pension

     (811     85        (3,413

Other postretirement benefits

     (80     350        263   
                        

Total (charge)/credit to other comprehensive income, before tax

     (167     1,845        (8,014

(Charge)/credit to income tax (see note 18)

     35        (591     2,723   

(Charge)/credit to investment in equity companies

     11        (133     (27
                        

(Charge)/credit to other comprehensive income including noncontrolling interests, after tax

    $ (121    $ 1,121       $ (5,318

Charge/(credit) to equity of noncontrolling interests

     95        93        224   
                        

(Charge)/credit to other comprehensive income attributable to ExxonMobil

    $ (26    $ 1,214       $ (5,094
                        

 

The Corporation's investment strategy for benefit plan assets reflects a long-term view, a careful assessment of the risks inherent in various asset classes and broad diversification to reduce the risk of the portfolio. The benefit plan assets are primarily invested in passive equity and fixed income index funds to diversify risk while minimizing costs. The equity funds hold ExxonMobil stock only to the extent necessary to replicate the relevant equity index. The fixed income funds are largely invested in high-quality corporate and government debt securities.

 

          Studies are periodically conducted to establish the preferred target asset allocation. The target asset allocation for the U.S. benefit plans is 60% equity securities and 40% debt securities. The target asset allocation for the non-U.S. plans in aggregate is 56% equities, 41% debt and 3% real estate funds. The equity targets for the U.S. and non-U.S. plans include an allocation to private equity partnerships that primarily focus on early-stage venture capital of 5% and 3%, respectively.

The fair value measurement levels are accounting terms that refer to different methods of valuing assets. The terms do not represent the relative risk or credit quality of an investment.

The 2010 fair value of the benefit plan assets, including the level within the fair value hierarchy, is shown in the tables below:

 

    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   
                           

 

 

     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) 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 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.

The change in the fair value in 2010 of Level 3 assets that use significant unobservable inputs to measure fair value is shown in the table below:

 

     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   
                                                          

 

The 2009 fair value of the benefit plan assets, including the level within the fair value hierarchy, is shown in the tables below:

 

    U.S. Pension     Non-U.S. Pension  
    Fair Value Measurement at
December 31, 2009, Using:
          Fair Value Measurement at
December 31, 2009, 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.

   $ —         $ 2,503 (1)     $ —         $ 2,503       $ —         $ 2,244 (1)     $ —         $ 2,244   

Non-U.S.

    —          3,341 (1)      —          3,341        227 (2)      5,946 (1)      —          6,173   

Private equity

    —          —          349 (3)      349        —          —          239 (3)      239   

Debt securities

               

Corporate

    —          1,040 (4)      —          1,040        2 (5)       1,637 (4)      —          1,639   

Government

    —          2,570 (4)      —          2,570        70 (5)      4,217 (4)      —          4,287   

Asset-backed

    —          30 (4)      —          30        —          119 (4)       —          119   

Private mortgages

    —          —          280 (6)      280        —          —          5 (6)      5   

Real estate funds

    —          —          —          —          —          —          413 (7)      413   

Cash

    140        —          —          140        79        55 (8)      —          134   
                                                               

Total at fair value

   $ 140       $ 9,484       $ 629       $ 10,253       $ 378       $ 14,218       $ 657       $ 15,253   

Insurance contracts at contract value

          24              148   
                           

Total plan assets

         $ 10,277             $ 15,401   
                           

 

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

 

     Other Postretirement  
     Fair Value Measurement at
December 31, 2009, 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.

     —           181 (1)      —          181   

Private equity

     —           —          4 (2)      4   

Debt securities

         

Corporate

     —           51 (3)      —          51   

Government

     —           95 (3)      —          95   

Asset-backed

     —           11 (3)      —          11   

Private mortgages

     —           —          3 (4)      3   

Cash

     3         —          —          3   
                                 

Total at fair value

    $ 3        $ 504       $ 7       $ 514   
                                 

 

(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 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.

The change in the fair value in 2009 of Level 3 assets that use significant unobservable inputs to measure fair value is shown in the table below:

 

     2009  
     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

    $ 346       $ 476       $ 238       $ 5        $ 409       $ 4        $ 6   

Net realized gains/(losses)

     4        11        (10     —           (7     —           —     

Net unrealized gains/(losses)

     (35     7        (35     —           (11     —           —     

Net purchases/(sales)

     34        (214     46        —           22        —           (3
                                                          

Fair value at December 31

    $ 349       $ 280       $ 239       $ 5        $ 413       $ 4        $ 3   
                                                          

 

A summary of pension plans with an accumulated benefit obligation in excess of plan assets is shown in the table below:

 

     Pension Benefits  
     U.S.      Non-U.S.  
     2010      2009      2010      2009  
    

(millions of dollars)

 

For funded pension plans with an accumulated benefit obligation in excess of plan assets:

           

Projected benefit obligation

    $ 13,184        $ 12,217        $ 9,865        $ 13,152   

Accumulated benefit obligation

     11,383         10,312         9,074         12,260   

Fair value of plan assets

     10,834         10,276         7,131         10,447   

For unfunded pension plans:

           

Projected benefit obligation

    $ 1,823        $ 1,764        $ 6,188        $ 5,858   

Accumulated benefit obligation

     1,381         1,303         5,413         5,180   
     Pension Benefits      Other Postretirement  
     U.S.      Non-U.S.      Benefits  
    

(millions of dollars)

 

Estimated 2011 amortization from accumulated other comprehensive income:

           

Net actuarial loss/(gain) (1)

    $ 835        $ 615          $        159               

Prior service cost (2)

     9         97         35               

 

 

     Pension Benefits      Other Postretirement Benefits  
     U.S.      Non-U.S.      Gross      Medicare Subsidy Receipt  
    

(millions of dollars)

 

Contributions expected in 2011

    $ 270        $ 1,130        $ —          $ —     

Benefit payments expected in:

           

2011

     1,454         1,299         440         23   

2012

     1,483         1,281         456         25   

2013

     1,512         1,316         474         26   

2014

     1,451         1,362         489         28   

2015

     1,392         1,393         502         29   

2016 - 2020

     6,079         8,325         2,662         163   
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet26.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Disclosures about Segments and Related Information
12 Months Ended
Dec. 31, 2010
Disclosures 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 regularly reviewed by the Corporation's 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.

Interest expense includes non-debt-related interest expense of  $41 million,  $500 million and  $498 million in 2010, 2009 and 2008, 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     Corporate and
Financing
    Corporate
Total
 
     U.S.      Non-U.S.      U.S.     Non-U.S.     U.S.      Non-U.S.      

As of December 31, 2010

     (millions of dollars)   

Earnings after income tax

    $ 4,272        $ 19,825        $ 770       $ 2,797       $ 2,422        $ 2,491       $ (2,117    $ 30,460   

Earnings of equity companies included above

     1,261         8,415         23        225        171         1,163        (581     10,677   

Sales and other operating revenue (1)

     8,895         26,046         93,599        206,042        13,402         22,119        22        370,125   

Intersegment revenue

     8,102         39,066         13,546        52,697        9,694         8,421        282        —     

Depreciation and depletion expense

     3,506         7,574         681        1,565        421         432        581        14,760   

Interest revenue

     —           —           —          —          —           —          118        118   

Interest expense

     20         25         1        19        1         4        189        259   

Income taxes

     2,219         18,627         360        560        736         347        (1,288     21,561   

Additions to property, plant and equipment

     52,300         16,937         888        1,332        247         1,733        719        74,156   

Investments in equity companies

     2,636         9,625         254        1,240        285         3,586        (197     17,429   

Total assets

     76,725         115,646         18,378        47,402        7,148         19,087        18,124        302,510   
                                                                   

As of December 31, 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   

Income taxes

     1,451         15,183         (164     (22     281         (182     (1,428     15,119   

Additions to property, plant and equipment

     2,973         13,307         1,449        1,447        294         2,553        468        22,491   

Investments in equity companies

     2,440         8,864         323        1,190        259         2,873        (207     15,742   

Total assets

     24,940         102,372         17,493        45,098        7,044         17,117        19,259        233,323   
                                                                   

As of December 31, 2008

                   

Earnings after income tax

    $ 6,243        $ 29,159        $ 1,649       $ 6,502       $ 724        $ 2,233       $ (1,290    $ 45,220   

Earnings of equity companies included above

     1,954         7,597         (2     518        105         1,411        (502     11,081   

Sales and other operating revenue (1)

     6,767         32,346         116,701        265,359        14,136         24,252        18        459,579   

Intersegment revenue

     9,617         55,069         16,225        65,723        9,925         9,749        273        —     

Depreciation and depletion expense

     1,391         7,266         656        1,672        410         422        562        12,379   

Interest revenue

     —           —           —          —          —           —          1,400        1,400   

Interest expense

     47         63         9        28        3         4        519        673   

Income taxes

     3,451         30,654         728        1,990        177         10        (480     36,530   

Additions to property, plant and equipment

     2,699         10,545         1,550        1,552        413         1,987        572        19,318   

Investments in equity companies

     2,248         7,787         456        1,382        241         2,384        (40     14,458   

Total assets

     23,056         83,750         16,328        42,044        6,856         13,300        42,718        228,052   
                                                                   

 

Geographic

Sales and other operating revenue (1)

   2010      2009      2008  
     (millions of dollars)  

United States

    $ 115,906        $ 89,847        $ 137,615   

Non-U.S.

     254,219         211,653         321,964   
                          

Total

    $ 370,125        $ 301,500        $ 459,579   
                          

Significant non-U.S. revenue sources include:

        

Canada

    $ 27,243        $ 21,151        $ 33,677   

Japan

     27,143         22,054         30,126   

United Kingdom

     24,637         20,293         29,764   

Belgium

     21,139         16,857         25,399   

Germany

     14,301         14,839         20,591   

Italy

     14,132         12,997         17,953   

France

     13,920         12,042         18,530   

Singapore

     11,088         8,400         11,059   

 

Long-lived assets

   2010      2009      2008  
     (millions of dollars)  

United States

    $ 86,021        $ 37,138        $ 35,548   

Non-U.S.

     113,527         101,978         85,798   
                          

Total

    $ 199,548        $ 139,116        $ 121,346   
                          

Significant non-U.S. long-lived assets include:

        

Canada

    $ 20,879        $ 15,919        $ 12,018   

Nigeria

     11,429         11,046         9,227   

Singapore

     8,610         7,238         5,113   

Angola

     8,570         7,320         6,129   

Norway

     6,988         7,251         5,856   

Australia

     6,570         4,247         2,857   

United Kingdom

     6,177         7,609         5,778   

Kazakhstan

     5,938         4,748         3,535   

 

See note 1, Summary of Accounting Policies.

------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet27.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Income, Sales-Based and Other Taxes
12 Months Ended
Dec. 31, 2010
Income, Sales Based and Other Taxes

18. Income, Sales-Based and Other Taxes

 

     2010     2009     2008  
     U.S.      Non-U.S.     Total     U.S.     Non-U.S.     Total     U.S.      Non-U.S.      Total  

Income taxes

     (millions of dollars)   

Federal and non-U.S.

                     

Current

    $ 1,224        $ 21,093       $ 22,317       $ (838    $ 15,830       $ 14,992       $ 3,005        $ 31,377        $ 34,382   

Deferred – net

     49         (1,191     (1,142     650        (665     (15     168         1,289         1,457   

U.S. tax on non-U.S. operations

     46         —          46        32        —          32        230         —           230   
                                                                           

Total federal and non-U.S.

     1,319         19,902        21,221        (156     15,165        15,009        3,403         32,666         36,069   

State

     340         —          340        110        —          110        461         —           461   
                                                                           

Total income taxes

     1,659         19,902        21,561        (46     15,165        15,119        3,864         32,666         36,530   

Sales-based taxes

     6,182         22,365        28,547        6,271        19,665        25,936        6,646         27,862         34,508   

All other taxes and duties

                     

Other taxes and duties

     776         35,342        36,118        581        34,238        34,819        1,663         40,056         41,719   

Included in production and manufacturing expenses

     1,001         1,237        2,238        699        1,318        2,017        915         1,720         2,635   

Included in SG&A expenses

     201         570        771        197        538        735        209         660         869   
                                                                           

Total other taxes and duties

     1,978         37,149        39,127        1,477        36,094        37,571        2,787         42,436         45,223   
                                                                           

Total

    $ 9,819        $ 79,416       $ 89,235       $ 7,702       $ 70,924       $ 78,626       $ 13,297        $ 102,964        $ 116,261   
                                                                           

All other taxes and duties include taxes reported in production and manufacturing and selling, general and administrative (SG&A) expenses. The above provisions for deferred income taxes include a net charge of  $175 million in 2010 and net credits of  $9 million in 2009 and  $300 million in 2008 for the effect of changes in tax laws and rates.

Income taxes (charged)/credited directly to equity were:

 

     2010     2009     2008  
     (millions of dollars)  

Cumulative foreign exchange translation adjustment

    $ (42    $ (247    $ 360   

Postretirement benefits reserves adjustment:

      

Net actuarial loss/(gain)

     553        (94     3,361   

Amortization of actuarial loss/(gain)

     (609     (649     (317

Prior service cost

     92        20        4   

Amortization of prior service cost

     (45     (43     (51

Foreign exchange rate changes

     44        175        (274
                        

Total postretirement benefits reserves adjustment

     35        (591     2,723   

Other components of equity

     246        140        315   

The reconciliation between income tax expense and a theoretical U.S. tax computed by applying a rate of 35 percent for 2010, 2009 and 2008 is as follows:

 

     2010     2009     2008  
     (millions of dollars)  

Income before income taxes

  

United States

    $ 7,711       $ 2,576       $ 10,152   

Non-U.S.

     45,248        32,201        73,245   
                        

Total

    $ 52,959       $ 34,777       $ 83,397   
                        

Theoretical tax

    $ 18,536       $ 12,172       $ 29,189   

Effect of equity method of accounting

     (3,737     (2,500     (3,878

Non-U.S. taxes in excess of theoretical U.S. tax

     7,293        5,948        10,188   

U.S. tax on non-U.S. operations

     46        32        230   

State taxes, net of federal tax benefit

     221        72        300   

Other U.S.

     (798     (605     501   
                        

Total income tax expense

    $ 21,561       $ 15,119       $ 36,530   
                        

Effective tax rate calculation

      

Income taxes

    $ 21,561       $ 15,119       $ 36,530   

ExxonMobil share of equity company income taxes

     4,058        2,489        4,001   
                        

Total income taxes

     25,619        17,608        40,531   

Net income including noncontrolling interests

     31,398        19,658        46,867   
                        

Total income before taxes

    $ 57,017       $ 37,266       $ 87,398   
                        

Effective income tax rate

     45     47     46

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.

Deferred tax liabilities/(assets) are comprised of the following at December 31:

 

Tax effects of temporary differences for:

   2010     2009  
     (millions of dollars)  

Property, plant and equipment

    $ 42,657       $ 29,931   

Other liabilities

     4,278        4,102   
                

Total deferred tax liabilities

    $ 46,935       $ 34,033   
                

Pension and other postretirement benefits

    $ (5,634    $ (5,442

Asset retirement obligations

     (4,461     (3,978

Tax loss carryforwards

     (3,243     (3,693

Other assets

     (6,070     (4,700
                

Total deferred tax assets

    $ (19,408    $ (17,813
                

Asset valuation allowances

     1,183        1,495   
                

Net deferred tax liabilities

    $ 28,710       $ 17,715   
                

Deferred income tax (assets) and liabilities are included in the balance sheet as shown below. Deferred income tax (assets) and liabilities are classified as current or long term consistent with the classification of the related temporary difference – separately by tax jurisdiction.

 

Balance sheet classification

   2010     2009  
     (millions of dollars)  

Other current assets

    $ (3,359    $ (3,322

Other assets, including intangibles, net

     (3,527     (2,263

Accounts payable and accrued liabilities

     446        152   

Deferred income tax liabilities

     35,150        23,148   
                

Net deferred tax liabilities

    $ 28,710       $ 17,715   
                

The Corporation had  $35 billion of indefinitely reinvested, undistributed earnings from subsidiary companies outside the U.S. 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. 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. Resolution of the related tax positions through negotiations with the relevant tax authorities or through litigation will take many years to complete. It is difficult to predict the timing of resolution for tax positions since such timing is not entirely within the control of the Corporation. It is reasonably possible that the total amount of unrecognized tax benefits could increase by up to 20 percent or decrease by up to 5 percent in the next 12 months. Given the long time periods involved in resolving tax positions, the Corporation does not expect that the recognition of unrecognized tax benefits will have a material impact on the Corporation's effective income tax rate in any given year.

The following table summarizes the movement in unrecognized tax benefits.

 

Gross unrecognized tax benefits

   2010     2009     2008  
     (millions of dollars)  

Balance at January 1

    $ 4,725       $ 4,976       $ 5,232   

Additions based on current year's tax positions

     830        547        656   

Additions for prior years' tax positions

     620        262        294   

Reductions for prior years' tax positions

     (505     (594     (328

Reductions due to lapse of the statute of limitations

     (534     —          (27

Settlements with tax authorities

     (999     (592     (681

Foreign exchange effects/other

     11        126        (170
                        

Balance at December 31

    $ 4,148       $ 4,725       $ 4,976   
                        

The additions and reductions in unrecognized tax benefits shown above include effects related to net income and equity, and timing differences for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. The 2010, 2009 and 2008 changes in unrecognized tax benefits did not have a material effect on the Corporation's net income or cash flow.

The following table summarizes the tax years that remain subject to examination by major tax jurisdiction:

 

Country of Operation

  

Open Tax Years

Abu Dhabi

   2000 - 2010

Angola

   2007 - 2010

Australia

   2000 - 2010

Canada

   1994 - 2010

Equatorial Guinea

   2005 - 2010

Germany

   1999 - 2010

Japan

   2003 - 2010

Malaysia

   2004 - 2010

Nigeria

   1998 - 2010

Norway

   2000 - 2010

United Kingdom

   2004 - 2010

United States:

   1991 - 1996
   1998 - 2000
   2004 - 2010

The Corporation classifies interest on income tax-related balances as interest expense or interest income and classifies tax-related penalties as operating expense.

In 2010, the Corporation's resolution of certain tax positions with tax jurisdictions resulted in a decrease in the total amount of unrecognized tax benefits and the related interest payable. For 2010, net interest expense was a credit of  $39 million, reflecting the effect of credits from the net favorable resolution of these prior year tax positions. The Corporation incurred approximately  $135 million and  $137 million in interest expense on income tax reserves in 2009 and 2008, respectively. The related interest payable balances were  $636 million and  $771 million at December 31, 2010, and 2009, respectively.

 

------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet28.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Acquisition of XTO Energy Inc.
12 Months Ended
Dec. 31, 2010
Acquisition of XTO Energy Inc.

19. Acquisition of XTO Energy Inc.

Description of the Transaction. On June 25, 2010, ExxonMobil acquired XTO Energy Inc. (XTO) by merging a wholly-owned subsidiary of ExxonMobil with and into XTO (the "merger"), with XTO continuing as the surviving corporation and wholly-owned subsidiary of ExxonMobil. XTO is involved in the exploration for, production of, and transportation and sale of crude oil and natural gas. XTO's asset base, technical capabilities and operating expertise, together with ExxonMobil's extensive research and development expertise, project management and operational skills, global scale and financial capacity, should enable effective development of additional supplies of unconventional oil and gas resources.

At the effective time of the merger, each share of XTO common stock was converted into the right to receive 0.7098 shares of common stock of ExxonMobil (the "Exchange Ratio"), with cash being paid in lieu of any fractional shares of ExxonMobil stock. Also at the effective time, each outstanding option to purchase XTO common stock was converted into an option to purchase a number of shares of ExxonMobil stock based on the Exchange Ratio, and each outstanding restricted stock award and performance stock award of XTO was converted into a restricted stock award or performance stock award, as applicable, of ExxonMobil stock based on the Exchange Ratio.

The components of the consideration transferred follow:

 

Recording of Assets Acquired and Liabilities Assumed. The transaction was accounted for using the acquisition method of accounting, which requires, among other things, that assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date.

The following table summarizes the assets acquired and liabilities assumed:

 

XTO Results and Pro Forma Impact of Merger. The following table presents revenues and earnings for XTO for the periods presented:

 

         
     Acquisition Date
Through
December 31, 2010
 
     (millions of dollars)  

Revenues

    $ 4,448   
   

Upstream earnings

    $ 262   

Transaction-related costs were expensed as incurred. The Corporation recognized  $18 million in transaction costs related to the merger in 2010.

The following table presents unaudited pro forma information for the Corporation as if the merger of XTO had occurred at the beginning of each year presented:

 

                 
     2010      2009  
     (millions of dollars, except per share amounts)  
     

Revenues

    $ 373,273        $ 307,456   
     

Net income attributable to ExxonMobil

    $ 30,668        $ 19,672   
     

Earnings per common share

    $ 6.03        $ 3.75   
     

Earnings per common share – assuming dilution

    $ 6.01        $ 3.74   

The historical financial information was adjusted to give effect to the pro forma events that were directly attributable to the merger and factually supportable. The unaudited pro forma consolidated results are not necessarily indicative of what the consolidated results of operations actually would have been had the merger been completed on January 1, 2010, or on January 1, 2009. In addition, the unaudited pro forma consolidated results do not purport to project the future results of operations of the combined company. The unaudited pro forma consolidated results reflect pro forma adjustments for the elimination of deferred gains and losses recognized in earnings for derivatives outstanding at the beginning of the year presented, depreciation expense related to the fair value adjustment to property, plant and equipment acquired, additional amortization expense related to the fair value of identifiable intangible assets acquired, capitalization of interest expense and applicable income tax impacts.

------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet29.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Summary of Accounting Policies (Policy)
12 Months Ended
Dec. 31, 2010
Principles of Consolidation
Revenue Recognition
Sales-Based Taxes
Derivative Instruments
Fair Value
Inventories
Property, Plant and Equipment
Goodwill
Asset Retirement Obligations and Environmental Liabilities
Foreign Currency Translation
Stock-Based Payments
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet30.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Miscellaneous Financial Information (Tables)
12 Months Ended
Dec. 31, 2010
Crude oil, products and merchandise
                 
     2010      2009  
     (billions of dollars)  

Petroleum products

    $ 3.5        $ 3.2   

Crude oil

     3.8         3.2   

Chemical products

     2.1         2.0   

Gas/other

     0.5         0.3   
                   

Total

    $ 9.9        $ 8.7   
                   
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet31.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Cash Flow Information (Tables)
12 Months Ended
Dec. 31, 2010
Cash payments
     2010      2009      2008  
     (millions of dollars)  

Cash payments for interest

    $ 703        $ 820        $ 650   

Cash payments for income taxes

    $ 18,941        $ 15,427        $ 33,941  
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet32.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Additional Working Capital Information (Tables)
12 Months Ended
Dec. 31, 2010
Schedule of notes, accounts receivable and payable, loans payable, and accrued liabilities
                 
     Dec. 31
2010
     Dec. 31
2009
 
     (millions of dollars)  

Notes and accounts receivable

                 

Trade, less reserves of  $152 million and  $198 million

    $ 25,439        $ 22,186   

Other, less reserves of  $34 million and  $31 million

     6,845         5,459   
                   

Total

    $ 32,284        $ 27,645   
                   
     

Notes and loans payable

                 

Bank loans

    $ 532        $ 1,043   

Commercial paper

     1,346         201   

Long-term debt due within one year

     345         348   

Other

     564         884   
                   

Total

    $ 2,787        $ 2,476   
                   
     

Accounts payable and accrued liabilities

                 

Trade payables

    $ 30,780        $ 24,236   

Payables to equity companies

     5,450         4,979   

Accrued taxes other than income taxes

     6,778         5,921   

Other

     7,026         6,139   
                   

Total

    $ 50,034        $ 41,275   
                   
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet33.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Equity Company Information (Tables)
12 Months Ended
Dec. 31, 2010
Schedule of equity company financial summary
                                                 
     2010      2009      2008  

Equity Company Financial Summary

   Total      ExxonMobil
Share
     Total      ExxonMobil
Share
     Total      ExxonMobil
Share
 
     (millions of dollars)  

Total revenues

    $ 153,020        $ 48,355        $ 112,153        $ 36,570        $ 148,477        $ 49,999   
                                                       

Income before income taxes

    $ 48,075        $ 14,735        $ 28,472        $ 9,632        $ 42,588        $ 15,082   

Income taxes

     13,962         4,058         7,775         2,489         12,020         4,001   
                                                       

Income from equity affiliates

    $ 34,113        $ 10,677        $ 20,697        $ 7,143        $ 30,568        $ 11,081   
                                                       
             

Current assets

    $ 48,573        $ 15,860        $ 37,376        $ 12,843        $ 29,358        $ 9,920   

Long-term assets

     90,646         29,805         88,153         27,983         87,442         28,339   
                                                       

Total assets

    $ 139,219        $ 45,665        $ 125,529        $ 40,826        $ 116,800        $ 38,259   
                                                       

Current liabilities

    $ 33,160        $ 10,260        $ 24,854        $ 8,085        $ 26,221        $ 8,707   

Long-term liabilities

     59,596         17,976         57,384         16,999         50,895         15,094   
                                                       

Net assets

    $ 46,463        $ 17,429        $ 43,291        $ 15,742        $ 39,684        $ 14,458   
                                                       
Schedule of the Corporation's percentage ownership interest
         
     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

     18       

Nederlandse Aardolie Maatschappij B.V.

     50       

Qatar Liquefied Gas Company Limited

     10       

Qatar Liquefied Gas Company Limited 2

     24       

Ras Laffan Liquefied Natural Gas Company Limited

     25       

Ras Laffan Liquefied Natural Gas Company Limited II

     31       

Ras Laffan Liquefied Natural Gas Company Limited (3)

     30       

South Hook LNG Terminal Company Limited

     24       

Tengizchevroil, LLP

     25       

Terminale GNL Adriatico S.r.l.

     69       
   

Downstream

        

Chalmette Refining, LLC

     50       

Fujian Refining & Petrochemical Co. Ltd.

     25       

Saudi Aramco Mobil Refinery Company Ltd.

     50       
   

Chemical

        

Al-Jubail Petrochemical Company

     50       

Infineum Holdings B.V.

     50       

Saudi Yanbu Petrochemical Co.

     50       

Toray Tonen Specialty Separator Godo Kaisha

     50       
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet34.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Investments, Advances and Long-Term Receivables (Tables)
12 Months Ended
Dec. 31, 2010
Schedule of investments, advances and long-term receivables
     Dec. 31
2010
     Dec. 31
2009
 
     (millions of dollars)  

Companies carried at equity in underlying assets

     

Investments

    $ 17,429        $ 15,742   

Advances

     9,286         8,669   
                 
    $ 26,715        $ 24,411   

Companies carried at cost or less and stock investments carried at fair value

     1,557         1,577   
                 
    $ 28,272        $ 25,988   

Long-term receivables and miscellaneous investments at cost or less, net of reserves of  $292 million and  $368 million

     7,066         5,677   
                 

Total

    $ 35,338        $ 31,665   
               
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet35.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Property, Plant and Equipment and Asset Retirement Obligations (Tables)
12 Months Ended
Dec. 31, 2010
Property, plant and equipment
                                 
     Dec. 31, 2010      Dec. 31, 2009  

Property, Plant and Equipment

   Cost      Net      Cost      Net  
            (millions of dollars)         

Upstream

    $ 264,136        $ 148,152        $ 198,036        $ 88,319   

Downstream

     68,652         30,095         68,092         30,499   

Chemical

     29,524         14,255         28,464         13,511   

Other

     11,626         7,046         11,314         6,787   
                                     

Total

    $ 373,938        $ 199,548        $ 305,906        $ 139,116   
                                     
Asset retirement obligations
                 
     2010     2009  
     (millions of dollars)  

Beginning balance

    $ 8,473       $ 5,352   

Accretion expense and other provisions

     563        372   

Reduction due to property sales

     (183     (18

Payments made

     (638     (448

Liabilities incurred

     1,094        156   

Foreign currency translation

     (45     535   

Revisions

     350        2,524   
                  

Ending balance

    $ 9,614       $ 8,473   
                  
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet36.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Accounting for Suspended Exploratory Well Costs (Tables)
12 Months Ended
Dec. 31, 2010
Change in capitalized suspended exploratory well costs
     2010     2009     2008  
     (millions of dollars)  

Balance beginning at January 1

    $ 2,005       $ 1,585       $ 1,291   

Additions pending the determination of proved reserves

     1,103        624        448   

Charged to expense

     (104     (51     —     

Reclassifications to wells, facilities and equipment based on the determination of proved reserves

     (136     (200     (101

Other

     25        47        (53
                        

Ending balance

    $ 2,893       $ 2,005       $ 1,585   
                        

Ending balance attributed to equity companies included above

    $ —         $ 9       $ 10   
Period end capitalized suspended exploratory well costs
     2010      2009      2008  
    

(millions of dollars)

 

Capitalized for a period of one year or less

    $ 1,103        $ 624        $ 448   

Capitalized for a period of between one and five years

     1,294         924         636   

Capitalized for a period of between five and ten years

     278         220         225   

Capitalized for a period of greater than ten years

     218         237         276   
                          

Capitalized for a period greater than one year – subtotal

    $ 1,790        $ 1,381        $ 1,137   
                          

Total

    $ 2,893        $ 2,005        $ 1,585   
                          
Number of projects with suspended exploratory well costs
     2010      2009      2008  

Number of projects with first capitalized well drilled in the preceding 12 months

     9         18         12   

Number of projects that have exploratory well costs capitalized for a period of greater than 12 months

     59         57         50   
                          

Total

     68         75         62   
                          
Additional detail for the 34 projects with completed exploratory activity progressing toward development

Country/Project

   Dec 31,
2010
     Years Wells
Drilled
    

Comment

(millions of dollars)       

Angola

        

- Perpetua-Zina-Acacia

    $ 15         2008 - 2009       Oil field near Pazflor development, awaiting capacity in existing/planned infrastructure.

Australia

        

- East Pilchard

     10         2001       Gas field near Kipper/Tuna development, awaiting capacity in existing/planned infrastructure.

Indonesia

        

- Natuna

     118         1981 - 1983       Development activity under way, while continuing discussions with the government on contract terms pursuant to recently executed Heads of Agreement.

Kazakhstan

        

- Kairan

     53         2004 - 2007       Declarations involving field commerciality filed with Kazakhstan government in 2008; progressing commercialization and field development studies.

Nigeria

        

- Bolia

     15         2002 - 2006       Evaluating development plan, while continuing discussions with the government regarding regional hub strategy.

- Bonga North

     34         2004 - 2009       Pursuing alignment with operator and government regarding development plan.

- Bosi

     79         2002 - 2006       Development activity under way while continuing discussions with the government regarding development plan.

- Other (5 projects)

     16         2001 - 2002       Pursuing development of several additional offshore satellite discoveries which will tie back to existing/planned production facilities.

Norway

        

- Gamma

     20         2008 - 2009       Evaluating development plan for tieback to existing production facilities.

- H-North

     15         2007       Discovery near existing facilities in Fram area; evaluating development options.

- Lavrans

     23         1995 - 1999       Development awaiting capacity in existing Kristin production facility; evaluating development concepts for phased ullage scenarios.

- Noatun

     19         2008       Evaluating development plan for tieback to existing production facilities.

- Nyk High

     20         2008       Evaluating field development alternatives.

- Other (8 projects)

     34         1992 - 2009       Evaluating development plans, including potential for tieback to existing production facilities.

Papua New Guinea

        

- Juha

     28         2007       Working on development plans to tie into planned LNG facilities.

United Kingdom

        

- Fram

     55         2009       Progressing development and commercialization plans.

- Other (3 projects)

     21         2001 - 2008       Projects primarily awaiting capacity in existing or planned infrastructure.

United States

        

- Julia Unit

     78         2007 - 2008       Julia Unit owners are progressing development plans and have agreed to share funding on facilities at the Chevron-operated Jack-Saint Malo platform. Suspension of Production for the Julia Unit is under review by the Bureau of Ocean Energy Management, Regulation and Enforcement.

- Tip Top

     31         2009       Evaluating development concept and requisite facility upgrades.

Other

        

- Various (2 projects)

     8         1979 - 1995       Projects primarily awaiting capacity in existing or planned infrastructure.

Total 2010 (34 projects)

    $ 692      
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet37.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Leased Facilities (Tables)
12 Months Ended
Dec. 31, 2010
Leased facilities
     Lease Payments
Under Minimum
Commitments
     Related
Sublease Rental
Income
 
     (millions of dollars)  

2011

    $ 2,095        $ 8   

2012

     1,570         8   

2013

     1,061         7   

2014

     731         6   

2015

     581         6   

2016 and beyond

     1,738         27   
                 

Total

    $ 7,776        $ 62   
                 
Net rental cost
     2010      2009      2008  
     (millions of dollars)  

Rental cost

    $ 3,762        $ 4,426        $ 4,115   

Less sublease rental income

     90         98         123   
                          

Net rental cost

    $ 3,672        $ 4,328        $ 3,992   
                          
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet38.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2010
Earnings per share computation
     2010      2009      2008  

Earnings per common share

        

Net income attributable to ExxonMobil (millions of dollars)

    $ 30,460        $ 19,280        $ 45,220   

Weighted average number of common shares outstanding (millions of shares)

     4,885         4,832         5,194   

Earnings per common share (dollars)

    $ 6.24        $ 3.99        $ 8.70   

Earnings per common share – assuming dilution

        

Net income attributable to ExxonMobil (millions of dollars)

    $ 30,460        $ 19,280        $ 45,220   

Weighted average number of common shares outstanding (millions of shares)

     4,885         4,832         5,194   

Effect of employee stock-based awards

     12         16         27   
                          

Weighted average number of common shares outstanding – assuming dilution

     4,897         4,848         5,221   
                          

Earnings per common share – assuming dilution (dollars)

    $ 6.22        $ 3.98        $ 8.66   

Dividends paid per common share (dollars)

    $ 1.74        $ 1.66        $ 1.55
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet39.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2010
Summarized long-term debt
   2010      2009  
     (millions of dollars)  

SeaRiver Maritime Financial Holdings, Inc. (1)

  

Guaranteed debt securities due 2011 (2)

    $ —          $ 13   

Guaranteed deferred interest debentures due 2012
– Face value net of unamortized discount plus accrued interest

     2,389         2,144   

XTO Energy Inc. (premium in millions of dollars)

     

7.500% senior note due 2012 includes premium of  $15

     199         —     

5.900% senior note due 2012 includes premium of  $16

     233         —     

6.250% senior note due 2013 includes premium of  $18

     193         —     

4.625% senior note due 2013 includes premium of  $9

     149         —     

5.750% senior note due 2013 includes premium of  $37

     359         —     

4.900% senior note due 2014 includes premium of  $19

     267         —     

5.000% senior note due 2015 includes premium of  $13

     142         —     

5.300% senior note due 2015 includes premium of  $28

     262         —     

5.650% senior note due 2016 includes premium of  $27

     227         —     

6.250% senior note due 2017 includes premium of  $80

     534         —     

5.500% senior note due 2018 includes premium of  $49

     420         —     

6.500% senior note due 2018 includes premium of  $86

     524         —     

6.100% senior note due 2036 includes premium of  $29

     204         —     

6.750% senior note due 2037 includes premium of  $69

     329         —     

6.375% senior note due 2038 includes premium of  $46

     258         —     

Mobil Services (Bahamas) Ltd.

     

Variable note due 2035 (3)

     972         972   

Variable note due 2034 (4)

     311         311   

Mobil Producing Nigeria Unlimited (5)

     

Variable notes due 2012-2017

     415         621   

Esso (Thailand) Public Company Ltd. (6)

     

Variable notes due 2012-2017

     522         165   

Mobil Corporation

     

8.625% debentures due 2021

     248         248   

Industrial revenue bonds due 2012-2040 (7)

     2,247         1,685   

Other U.S. dollar obligations (8)

     454         536   

Other foreign currency obligations

     65         66   

Capitalized lease obligations (9)

     304         368   
                 

Total long-term debt

    $ 12,227        $ 7,129   
                 

 

(1) Additional information is provided for this subsidiary on the following pages.
(2) Average effective interest rate of 1.6% in 2009.
(3) Average effective interest rate of 0.3% in 2010 and 0.3% in 2009.
(4) Average effective interest rate of 0.4% in 2010 and 0.9% in 2009.
(5) Average effective interest rate of 4.6% in 2010 and 5.4% in 2009.
(6) Average effective interest rate of 1.7% in 2010 and 2.2% in 2009.
(7) Average effective interest rate of 0.2% in 2010 and 0.2% in 2009.
(8) Average effective interest rate of 4.7% in 2010 and 5.0% in 2009.
(9) Average imputed interest rate of 8.1% in 2010 and 8.8% in 2009.
Condensed consolidated statement of income
     Exxon  Mobil
Corporation

Parent
Guarantor
     SeaRiver
Maritime
Financial
Holdings, Inc.
    All Other
Subsidiaries
     Consolidating
and
Eliminating
Adjustments
    Consolidated  
     (millions of dollars)  

Condensed consolidated statement of income for 12 months ended December 31, 2010

 

Revenues and other income

            

Sales and other operating revenue, including sales-based taxes

    $ 15,382        $ —         $ 354,743        $ —         $ 370,125   

Income from equity affiliates

     28,401         (2     10,589         (28,311     10,677   

Other income

     790         —          1,629         —          2,419   

Intercompany revenue

     39,433         4        332,483         (371,920     —     
                                          

Total revenues and other income

     84,006         2        699,444         (400,231     383,221   
                                          

Costs and other deductions

            

Crude oil and product purchases

     40,788         —          518,961         (361,790     197,959   

Production and manufacturing expenses

     7,627         —          33,400         (5,235     35,792   

Selling, general and administrative expenses

     2,871         —          12,482         (670     14,683   

Depreciation and depletion

     1,761         —          12,999         —          14,760   

Exploration expenses, including dry holes

     251         —          1,893         —          2,144   

Interest expense

     217         246        4,035         (4,239     259   

Sales-based taxes

     —           —          28,547         —          28,547   

Other taxes and duties

     29         —          36,089         —          36,118   
                                          

Total costs and other deductions

     53,544         246        648,406         (371,934     330,262   
                                          

Income before income taxes

     30,462         (244     51,038         (28,297     52,959   

Income taxes

     2         (90     21,649         —          21,561   
                                          

Net income including noncontrolling interests

     30,460         (154     29,389         (28,297     31,398   

Net income attributable to noncontrolling interests

     —           —          938         —          938   
                                          

Net income attributable to ExxonMobil

    $ 30,460        $ (154    $ 28,451        $ (28,297    $ 30,460   
                                          

 

     Exxon  Mobil
Corporation

Parent
Guarantor
    SeaRiver
Maritime
Financial
Holdings, Inc.
    All Other
Subsidiaries
     Consolidating
and
Eliminating
Adjustments
    Consolidated  
    

(millions of dollars)

 

Condensed consolidated statement of income for 12 months ended December 31, 2009

 

Revenues and other income

           

Sales and other operating revenue, including sales-based taxes

    $ 11,352       $ —         $ 290,148        $ —         $ 301,500   

Income from equity affiliates

     19,852        7        7,060         (19,776     7,143   

Other income

     813        —          1,130         —          1,943   

Intercompany revenue

     30,889        4        271,663         (302,556     —     
                                         

Total revenues and other income

     62,906        11        570,001         (322,332     310,586   
                                         

Costs and other deductions

           

Crude oil and product purchases

     31,419        —          411,689         (290,302     152,806   

Production and manufacturing expenses

     7,811        —          30,805         (5,589     33,027   

Selling, general and administrative expenses

     2,574        —          12,852         (691     14,735   

Depreciation and depletion

     1,571        —          10,346         —          11,917   

Exploration expenses, including dry holes

     230        —          1,791         —          2,021   

Interest expense

     1,200        222        5,126         (6,000     548   

Sales-based taxes

     —          —          25,936         —          25,936   

Other taxes and duties

     (29     —          34,848         —          34,819   
                                         

Total costs and other deductions

     44,776        222        533,393         (302,582     275,809   
                                         

Income before income taxes

     18,130        (211     36,608         (19,750     34,777   

Income taxes

     (1,150     (81     16,350         —          15,119   
                                         

Net income including noncontrolling interests

     19,280        (130     20,258         (19,750     19,658   

Net income attributable to noncontrolling interests

     —          —          378         —          378   
                                         

Net income attributable to ExxonMobil

    $ 19,280       $ (130    $ 19,880        $ (19,750    $ 19,280   
                                         

Condensed consolidated statement of income for 12 months ended December 31, 2008

 

Revenues and other income

           

Sales and other operating revenue, including sales-based taxes

    $ 17,481       $ —         $ 442,098        $ —         $ 459,579   

Income from equity affiliates

     45,664        9        11,055         (45,647     11,081   

Other income

     302        —          6,397         —          6,699   

Intercompany revenue

     48,414        45        442,305         (490,764     —     
                                         

Total revenues and other income

     111,861        54        901,855         (536,411     477,359   
                                         

Costs and other deductions

           

Crude oil and product purchases

     48,346        —          669,107         (467,999     249,454   

Production and manufacturing expenses

     8,327        —          35,298         (5,720     37,905   

Selling, general and administrative expenses

     3,349        —          13,364         (840     15,873   

Depreciation and depletion

     1,552        —          10,827         —          12,379   

Exploration expenses, including dry holes

     192        —          1,259         —          1,451   

Interest expense

     3,859        207        13,143         (16,536     673   

Sales-based taxes

     —          —          34,508         —          34,508   

Other taxes and duties

     67        —          41,652         —          41,719   
                                         

Total costs and other deductions

     65,692        207        819,158         (491,095     393,962   
                                         

Income before income taxes

     46,169        (153     82,697         (45,316     83,397   

Income taxes

     949        (56     35,637         —          36,530   
                                         

Net income including noncontrolling interests

     45,220        (97     47,060         (45,316     46,867   

Net income attributable to noncontrolling interests

     —          —          1,647         —          1,647   
                                         

Net income attributable to ExxonMobil

    $ 45,220       $ (97    $ 45,413        $ (45,316    $ 45,220   
                                         
Condensed consolidated balance sheet
     Exxon Mobil
Corporation
Parent
Guarantor
    SeaRiver
Maritime
Financial
Holdings, Inc.
    All Other
Subsidiaries
     Consolidating
and
Eliminating
Adjustments
    Consolidated  
    

(millions of dollars)

 

Condensed consolidated balance sheet for year ended December 31, 2010

 

Cash and cash equivalents

    $ 309       $ —         $ 7,516        $ —         $ 7,825   

Cash and cash equivalents – restricted

     371        —          257         —          628   

Marketable securities

     —          —          2         —          2   

Notes and accounts receivable – net

     2,104        —          30,346         (166     32,284   

Inventories

     1,457        —          11,519         —          12,976   

Other current assets

     239        —          5,030         —          5,269   
                                         

Total current assets

     4,480        —          54,670         (166     58,984   

Investments, advances and long-term receivables

     254,781        446        454,489         (674,378     35,338   

Property, plant and equipment – net

     18,830        —          180,718         —          199,548   

Other long-term assets

     224        12        8,404         —          8,640   

Intercompany receivables

     18,186        2,457        528,405         (549,048     —     
                                         

Total assets

    $ 296,501       $ 2,915       $ 1,226,686        $ (1,223,592    $ 302,510   
                                         

Notes and loans payable

    $ 1,042       $ 13       $ 1,732        $ —         $ 2,787   

Accounts payable and accrued liabilities

     2,987        —          47,047         —          50,034   

Income taxes payable

     —          3        9,975         (166     9,812   
                                         

Total current liabilities

     4,029        16        58,754         (166     62,633   

Long-term debt

     295        2,389        9,543         —          12,227   

Postretirement benefits reserves

     9,660        —          9,707         —          19,367   

Deferred income tax liabilities

     642        107        34,401         —          35,150   

Other long-term liabilities

     5,632        —          14,822         —          20,454   

Intercompany payables

     129,404        382        419,262         (549,048     —     
                                         

Total liabilities

     149,662        2,894        546,489         (549,214     149,831   
                                         

Earnings reinvested

     298,899        (848     132,357         (131,509     298,899   

Other equity

     (152,060     869        542,000         (542,869     (152,060
                                         

ExxonMobil share of equity

     146,839        21        674,357         (674,378     146,839   

Noncontrolling interests

     —          —          5,840         —          5,840   
                                         

Total equity

     146,839        21        680,197         (674,378     152,679   
                                         

Total liabilities and equity

    $ 296,501       $ 2,915       $ 1,226,686        $ (1,223,592    $ 302,510   
                                         

Condensed consolidated balance sheet for year ended December 31, 2009

 

Cash and cash equivalents

    $ 449       $ —         $ 10,244        $ —         $ 10,693   

Marketable securities

     —          —          169         —          169   

Notes and accounts receivable – net

     2,050        —          25,858         (263     27,645   

Inventories

     1,202        —          10,351         —          11,553   

Other current assets

     313        —          4,862         —          5,175   
                                         

Total current assets

     4,014        —          51,484         (263     55,235   

Investments, advances and long-term receivables

     199,110        449        439,712         (607,606     31,665   

Property, plant and equipment – net

     18,015        —          121,101         —          139,116   

Other long-term assets

     207        24        7,076         —          7,307   

Intercompany receivables

     19,637        2,257        442,903         (464,797     —     
                                         

Total assets

    $ 240,983       $ 2,730       $ 1,062,276        $ (1,072,666    $ 233,323   
                                         

Notes and loans payable

    $ 43       $ 13       $ 2,420        $ —         $ 2,476   

Accounts payable and accrued liabilities

     2,779        —          38,496         —          41,275   

Income taxes payable

     —          2        8,571         (263     8,310   
                                         

Total current liabilities

     2,822        15        49,487         (263     52,061   

Long-term debt

     279        2,157        4,693         —          7,129   

Postretirement benefits reserves

     8,673        —          9,269         —          17,942   

Deferred income tax liabilities

     818        151        22,179         —          23,148   

Other long-term liabilities

     5,286        —          12,365         —          17,651   

Intercompany payables

     112,536        382        351,879         (464,797     —     
                                         

Total liabilities

     130,414        2,705        449,872         (465,060     117,931   
                                         

Earnings reinvested

     276,937        (694     109,603         (108,909     276,937   

Other equity

     (166,368     719        497,978         (498,697     (166,368
                                         

ExxonMobil share of equity

     110,569        25        607,581         (607,606     110,569   

Noncontrolling interests

     —          —          4,823         —          4,823   
                                         

Total equity

     110,569        25        612,404         (607,606     115,392   
                                         

Total liabilities and equity

    $ 240,983       $ 2,730       $ 1,062,276        $ (1,072,666    $ 233,323   
                                         

 

Condensed consolidated statement of cash flows
Exxon  Mobil
Corporation

Parent
Guarantor
    SeaRiver
Maritime
Financial
Holdings, Inc
    All Other
Subsidiaries
    Consolidating
and
Eliminating
Adjustments
    Consolidated  
    

(millions of dollars)

 

Condensed consolidated statement of cash flows for 12 months ended December 31, 2010

 

Cash provided by/(used in) operating activities

    $ 35,740       $ 63       $ 18,307       $ (5,697    $ 48,413   
                                        

Cash flows from investing activities

          

Additions to property, plant and equipment

     (2,922     —          (23,949     —          (26,871

Sales of long-term assets

     1,484        —          1,777        —          3,261   

Decrease/(increase) in restricted cash and cash equivalents

     (371     —          (257     —          (628

Net intercompany investing

     (13,966     (200     13,813        353        —     

All other investing, net

     (672     —          706        —          34   
                                        

Net cash provided by/(used in) investing activities

     (16,447     (200     (7,910     353        (24,204
                                        

Cash flows from financing activities

          

Additions to short- and long-term debt

     —          —          1,741        —          1,741   

Reductions in short- and long-term debt

     (3     (13     (8,644     —          (8,660

Additions/(reductions) in debt with three months or less maturity

     997        —          (288     —          709   

Cash dividends

     (8,498     —          (5,697     5,697        (8,498

Common stock acquired

     (13,093     —          —          —          (13,093

Net intercompany financing activity

     —          —          202        (202     —     

All other financing, net

     1,164        150        (286     (151     877   
                                        

Net cash provided by/(used in) financing activities

     (19,433     137        (12,972     5,344        (26,924
                                        

Effects of exchange rate changes on cash

     —          —          (153     —          (153
                                        

Increase/(decrease) in cash and cash equivalents

    $ (140    $ —         $ (2,728    $ —         $ (2,868
                                        

Condensed consolidated statement of cash flows for 12 months ended December 31, 2009

 

Cash provided by/(used in) operating activities

    $ 27,424       $ 72       $ 28,024       $ (27,082    $ 28,438   
                                        

Cash flows from investing activities

          

Additions to property, plant and equipment

     (2,686     —          (19,805     —          (22,491

Sales of long-term assets

     228        —          1,317        —          1,545   

Decrease/(increase) in restricted cash and cash equivalents

     —          —          —          —          —     

Net intercompany investing

     (1,826     (209     1,717        318        —     

All other investing, net

     —          —          (1,473     —          (1,473
                                        

Net cash provided by/(used in) investing activities

     (4,284     (209     (18,244     318        (22,419
                                        

Cash flows from financing activities

          

Additions to short- and long-term debt

     —          —          1,561        —          1,561   

Reductions in short- and long-term debt

     (3     (13     (1,627     —          (1,643

Additions/(reductions) in debt with three months or less maturity

     39        —          (110     —          (71

Cash dividends

     (8,023     —          (27,082     27,082        (8,023

Common stock acquired

     (19,703     —          —          —          (19,703

Net intercompany financing activity

     —          —          168        (168     —     

All other financing, net

     988        150        (392     (150     596   
                                        

Net cash provided by/(used in) financing activities

     (26,702     137        (27,482     26,764        (27,283
                                        

Effects of exchange rate changes on cash

     —          —          520        —          520   
                                        

Increase/(decrease) in cash and cash equivalents

    $ (3,562    $ —         $ (17,182    $ —         $ (20,744
                                        

 

     Exxon Mobil
Corporation
Parent
Guarantor
    SeaRiver
Maritime
Financial
Holdings, Inc.
    All Other
Subsidiaries
    Consolidating
and
Eliminating
Adjustments
    Consolidated  
     (millions of dollars)  

Condensed consolidated statement of cash flows for 12 months ended December 31, 2008

 

Cash provided by/(used in) operating activities

    $ 47,823       $ 68       $ 54,478       $ (42,644    $ 59,725   
                                        

Cash flows from investing activities

          

Additions to property, plant and equipment

     (2,154     —          (17,164     —          (19,318

Sales of long-term assets

     162        —          5,823        —          5,985   

Decrease/(increase) in restricted cash and cash equivalents

     —          —          —          —          —     

Net intercompany investing

     (502     (155     476        181        —     

All other investing, net

     —          —          (2,166     —          (2,166
                                        

Net cash provided by/(used in) investing activities

     (2,494     (155     (13,031     181        (15,499
                                        

Cash flows from financing activities

          

Additions to short- and long-term debt

     —          —          1,146        —          1,146   

Reductions in short- and long-term debt

     (4     (13     (1,799     —          (1,816

Additions/(reductions) in debt with three months or less maturity

     —          —          143        —          143   

Cash dividends

     (8,058     —          (42,644     42,644        (8,058

Common stock acquired

     (35,734     —          —          —          (35,734

Net intercompany financing activity

     —          —          81        (81     —     

All other financing, net

     1,085        100        (793     (100     292   
                                        

Net cash provided by/(used in) financing activities

     (42,711     87        (43,866     42,463        (44,027
                                        

Effects of exchange rate changes on cash

     —          —          (2,743     —          (2,743
                                        

Increase/(decrease) in cash and cash equivalents

    $ 2,618       $ —         $ (5,162    $ —         $ (2,544
                                        
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet40.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Incentive Program (Tables)
12 Months Ended
Dec. 31, 2010
Summary of restricted stock and units outstanding
                 
      2010  

Restricted stock and units outstanding

   Shares     Weighted Average
Grant-Date
Fair Value per Share
 
     (thousands)        

Issued and outstanding at January 1

     43,503       $ 67.52   

2009 award issued in 2010

     10,132       $ 75.40   

Merger-related granted and converted XTO awards

     4,206       $ 59.31   

Vested

     (10,377    $ 61.72   

Forfeited

     (158    $ 67.91   
                  

Issued and outstanding at December 31

     47,306       $ 69.74   
                  
Grant value of restricted stock and units
                         

Value of restricted stock and units

   2010      2009      2008  

Grant price

    $ 66.07        $ 75.40        $ 78.24   

Value at date of grant:

     (millions of dollars)   

Restricted stock and units settled in stock

    $ 672        $ 711        $ 735   

Merger-related granted and converted XTO awards

     250         —           —     

Units settled in cash

     60         53         56   
                            

Total value

    $ 982        $ 764        $ 791   
                            
Converted performance stock awards
         
     Dec, 31, 2010  

Performance stock awards

   Shares  
     (thousands)  

Vesting Price:

        

 $108.49

     38   

 $119.76

     38   
Summary of stock options outstanding
                         
     2010         

Stock options

   Shares     Avg. Exercise
Price
     Weighted Average
Remaining Contractual Term
 

Outstanding at January 1

     41,473       $ 40.92            

Merger-related converted XTO awards

     12,393       $ 55.15            

Exercised

     (24,305    $ 43.62            

Forfeited

     (52    $ 45.91            
                           

Outstanding at December 31

     29,509       $ 44.65         2.0 Years   
                           

Exercisable at December 31

     28,935       $ 43.94         1.9 Years   
Fair values used in determining XTO merger-related stock based awards
         

Weighted average expected term

     2.5 years       

Range of risk-free interest rates

     0.1% - 2.6%     
   

Weighted average risk-free interest rates

     0.9%         

Dividend yield

     3.0%         
   

Weighted average volatility

     28.5%         

Range of volatility

     22.5% - 33.6%   
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet41.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Litigation and Other Contingencies (Tables)
12 Months Ended
Dec. 31, 2010
Schedule of guarantees
     Dec. 31, 2010  
     Equity
Company
Obligations
     Other
Third-Party
Obligations
     Total  
     (millions of dollars)  

Guarantees

    $ 5,290        $ 3,481        $ 8,771   
Unconditional purchase obligations
Payments Due by Period  
     2011      2012-
2015
     2016
and
Beyond
     Total  
     (millions of dollars)  

Unconditional purchase obligations (1)

    $ 287        $ 748        $ 487        $ 1,522   

 

(1) Undiscounted obligations of  $1,522 million mainly pertain to pipeline throughput agreements and include  $996 million of obligations to equity companies. The present value of these commitments, which excludes imputed interest of  $273 million, totaled  $1,249 million.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet42.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Tables)
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Change in benefit obligation of pension and other postretirement benefits
Pension Benefits     Other  Postretirement
Benefits
 
     U.S.     Non-U.S.    
     2010     2009     2010     2009     2010     2009  
    

(percent)

 

Weighted-average assumptions used to determine benefit obligations at December 31

            

Discount rate

     5.50        6. 00        4.80        5.20        5.50        6.00   

Long-term rate of compensation increase

     5.00        5.00        5.20        5.00        5.00        5.00   
     (millions of dollars)  

Change in benefit obligation

  

Benefit obligation at January 1

    $ 13,981       $ 13,272       $ 23,344       $ 19,990       $ 6,748       $ 6,633   

Service cost

     468        438        480        421        101        94   

Interest cost

     798        809        1,175        1,121        395        408   

Actuarial loss/(gain)

     553        1,126        1,672        1,280        277        (49

Benefits paid (1) (2)

     (873     (1,665     (1,281     (1,174     (394     (480

Foreign exchange rate changes

     —          —          169        1,676        26        60   

Plan amendments, other

     80        1        163        30        178        82   
                                                

Benefit obligation at December 31

    $ 15,007       $ 13,981       $ 25,722       $ 23,344       $ 7,331       $ 6,748   
                                                

Accumulated benefit obligation at December 31

    $ 12,764       $ 11,615       $ 22,958       $ 20,909       $ —         $ —     

 

(1) Benefit payments for funded and unfunded plans.
(2) For 2010 and 2009, other postretirement benefits paid are net of  $15 million and  $28 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.    
     2010     2009     2010     2009     2010     2009  
    

(millions of dollars)

 

Change in plan assets

          

Fair value at January 1

    $ 10,277       $ 6,634       $ 15,401       $ 11,260       $ 514       $ 443   

Actual return on plan assets

     1,235        2,013        1,482        2,201        63        93   

Foreign exchange rate changes

     —          —          99        1,300        —          —     

Company contribution

     —          3,070        1,184        1,456        38        36   

Benefits paid (1)

     (677     (1,440     (873     (795     (59     (57

Other

     —          —          (528     (21     2        (1
                                                

Fair value at December 31

    $ 10,835       $ 10,277       $ 16,765       $ 15,401       $ 558       $ 514   
                                                

 

(1) Benefit payments for funded plans.
Summary of assets in excess of/(less than) benefit obligation
     Pension Benefits  
     U.S.     Non-U.S.  
     2010     2009     2010     2009  
     (millions of dollars)  

Assets in excess of/(less than) benefit obligation

  

Balance at December 31

        

Funded plans

    $ (2,349    $ (1,940    $ (2,769    $ (2,085

Unfunded plans

     (1,823     (1,764     (6,188     (5,858
                                

Total

    $ (4,172    $ (3,704    $ (8,957    $ (7,943
                                
Amounts recorded in balance sheet and other comprehensive income
Pension Benefits     Other  Postretirement
Benefits
 
     U.S.     Non-U.S.    
     2010     2009     2010     2009     2010     2009  
     (millions of dollars)  

Assets in excess of/(less than) benefit obligation

          

Balance at December 31 (1)

    $ (4,172    $ (3,704    $ (8,957    $ (7,943    $ (6,773    $ (6,234
                                                

Amounts recorded in the consolidated balance sheet consist of:

            

Other assets

    $ 1       $ 1       $ 400       $ 961       $ —         $ —     

Current liabilities

     (257     (235     (336     (348     (343     (318

Postretirement benefits reserves

     (3,916     (3,470     (9,021     (8,556     (6,430     (5,916
                                                

Total recorded

    $ (4,172    $ (3,704    $ (8,957    $ (7,943    $ (6,773    $ (6,234
                                                

Amounts recorded in accumulated other comprehensive income consist of:

            

Net actuarial loss/(gain)

    $ 5,028       $ 5,830       $ 7,795       $ 7,036       $ 1,985       $ 1,878   

Prior service cost

     83        5        674        622        154        181   
                                                

Total recorded in accumulated other comprehensive income

    $ 5,111       $ 5,835       $ 8,469       $ 7,658       $ 2,139       $ 2,059   
                                                

 

(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  
     U.S.     Non-U.S.     Benefits  
     2010     2009     2008     2010     2009     2008     2010     2009     2008  
    

(percent)

 

Weighted-average assumptions used to determine net periodic benefit cost for years ended December 31

                  

Discount rate

     6.00        6.25        6.25        5.20        5.50        5.40        6.00        6.25        6.25   

Long-term rate of return on funded assets

     7.50        8.00        9.00        6.70        7.30        7.50        7.50        8.00        9.00   

Long-term rate of compensation increase

     5.00        5.00        5.00        5.00        4.70        4.50        5.00        5.00        5.00   
    

(millions of dollars)

 

Components of net periodic benefit cost

              

Service cost

    $ 468       $ 438       $ 378       $ 480       $ 421       $ 434       $ 101       $ 94       $ 100   

Interest cost

     798        809        729        1,175        1,121        1,152        395        408        414   

Expected return on plan assets

     (726     (656     (915     (1,010     (886     (1,200     (37     (35     (59

Amortization of actuarial loss/(gain)

     525        694        239        554        648        318        147        176        197   

Amortization of prior service cost

     2        —          (2     84        79        93        52        69        76   

Net pension enhancement and curtailment/settlement expense

     321        485        174        9        2        32        —          —          —     
                                                                        

Net periodic benefit cost

    $ 1,388       $ 1,770       $ 603       $ 1,292       $ 1,385       $ 829       $ 658       $ 712       $ 728   
                                                                        

Changes in amounts recorded in accumulated other comprehensive income:

                  

Net actuarial loss/(gain)

    $ 44       $ (231    $ 5,275       $ 1,202       $ (33    $ 4,837       $ 251       $ (107    $ 13   

Amortization of actuarial (loss)/gain

     (846     (1,179     (413     (563     (650     (350     (147     (176     (197

Prior service cost/(credit)

     80        —          —          160        69        16        26        —          —     

Amortization of prior service (cost)

     (2     —          2        (84     (79     (93     (52     (69     (76

Foreign exchange rate changes

     —          —          —          96        608        (997     2        2        (3
                                                                        

Total recorded in other comprehensive income

     (724     (1,410     4,864        811        (85     3,413        80        (350     (263

Total recorded in net periodic benefit cost and other comprehensive income, before tax

    $ 664       $ 360       $ 5,467       $ 2,103       $ 1,300       $ 4,242       $ 738       $ 362       $ 465   
                                                                        

 

Summary of change in accumulated other comprehensive income
     Total Pension and Other Postretirement Benefits  
     2010     2009     2008  
     (millions of dollars)  

(Charge)/credit to other comprehensive income, before tax

  

U.S. pension

    $ 724       $ 1,410       $ (4,864

Non-U.S. pension

     (811     85        (3,413

Other postretirement benefits

     (80     350        263   
                        

Total (charge)/credit to other comprehensive income, before tax

     (167     1,845        (8,014

(Charge)/credit to income tax (see note 18)

     35        (591     2,723   

(Charge)/credit to investment in equity companies

     11        (133     (27
                        

(Charge)/credit to other comprehensive income including noncontrolling interests, after tax

    $ (121    $ 1,121       $ (5,318

Charge/(credit) to equity of noncontrolling interests

     95        93        224   
                        

(Charge)/credit to other comprehensive income attributable to ExxonMobil

    $ (26    $ 1,214       $ (5,094
                        
Fair value of the benefit plan assets (pension)
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) 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 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, 2009, Using:
          Fair Value Measurement at
December 31, 2009, 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.

   $ —         $ 2,503 (1)     $ —         $ 2,503       $ —         $ 2,244 (1)     $ —         $ 2,244   

Non-U.S.

    —          3,341 (1)      —          3,341        227 (2)      5,946 (1)      —          6,173   

Private equity

    —          —          349 (3)      349        —          —          239 (3)      239   

Debt securities

               

Corporate

    —          1,040 (4)      —          1,040        2 (5)       1,637 (4)      —          1,639   

Government

    —          2,570 (4)      —          2,570        70 (5)      4,217 (4)      —          4,287   

Asset-backed

    —          30 (4)      —          30        —          119 (4)       —          119   

Private mortgages

    —          —          280 (6)      280        —          —          5 (6)      5   

Real estate funds

    —          —          —          —          —          —          413 (7)      413   

Cash

    140        —          —          140        79        55 (8)      —          134   
                                                               

Total at fair value

   $ 140       $ 9,484       $ 629       $ 10,253       $ 378       $ 14,218       $ 657       $ 15,253   

Insurance contracts at contract value

          24              148   
                           

Total plan assets

         $ 10,277             $ 15,401   
                           

 

(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 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, 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) 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 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.
Other Postretirement  
     Fair Value Measurement at
December 31, 2009, 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.

     —           181 (1)      —          181   

Private equity

     —           —          4 (2)      4   

Debt securities

         

Corporate

     —           51 (3)      —          51   

Government

     —           95 (3)      —          95   

Asset-backed

     —           11 (3)      —          11   

Private mortgages

     —           —          3 (4)      3   

Cash

     3         —          —          3   
                                 

Total at fair value

    $ 3        $ 504       $ 7       $ 514   
                                 

 

(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 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
     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   
                                                          
     2009  
     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

    $ 346       $ 476       $ 238       $ 5        $ 409       $ 4        $ 6   

Net realized gains/(losses)

     4        11        (10     —           (7     —           —     

Net unrealized gains/(losses)

     (35     7        (35     —           (11     —           —     

Net purchases/(sales)

     34        (214     46        —           22        —           (3
                                                          

Fair value at December 31

    $ 349       $ 280       $ 239       $ 5        $ 413       $ 4        $ 3   
                                                          
Pension plans with accumulated benefit obligation in excess of plan assets
Pension Benefits  
     U.S.      Non-U.S.  
     2010      2009      2010      2009  
    

(millions of dollars)

 

For funded pension plans with an accumulated benefit obligation in excess of plan assets:

           

Projected benefit obligation

    $ 13,184        $ 12,217        $ 9,865        $ 13,152   

Accumulated benefit obligation

     11,383         10,312         9,074         12,260   

Fair value of plan assets

     10,834         10,276         7,131         10,447   

For unfunded pension plans:

           

Projected benefit obligation

    $ 1,823        $ 1,764        $ 6,188        $ 5,858   

Accumulated benefit obligation

     1,381         1,303         5,413         5,180   
     Pension Benefits      Other Postretirement  
     U.S.      Non-U.S.      Benefits  
    

(millions of dollars)

 

Estimated 2011 amortization from accumulated other comprehensive income:

           

Net actuarial loss/(gain) (1)

    $ 835        $ 615          $        159               

Prior service cost (2)

     9         97         35               

 

(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 2011

    $ 270        $ 1,130        $ —          $ —     

Benefit payments expected in:

           

2011

     1,454         1,299         440         23   

2012

     1,483         1,281         456         25   

2013

     1,512         1,316         474         26   

2014

     1,451         1,362         489         28   

2015

     1,392         1,393         502         29   

2016 - 2020

     6,079         8,325         2,662         163   
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet43.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Disclosures about Segments and Related Information (Tables)
12 Months Ended
Dec. 31, 2010
Disclosures about segments and related information
     Upstream      Downstream     Chemical     Corporate and
Financing
    Corporate
Total
 
     U.S.      Non-U.S.      U.S.     Non-U.S.     U.S.      Non-U.S.      

As of December 31, 2010

     (millions of dollars)   

Earnings after income tax

    $ 4,272        $ 19,825        $ 770       $ 2,797       $ 2,422        $ 2,491       $ (2,117    $ 30,460   

Earnings of equity companies included above

     1,261         8,415         23        225        171         1,163        (581     10,677   

Sales and other operating revenue (1)

     8,895         26,046         93,599        206,042        13,402         22,119        22        370,125   

Intersegment revenue

     8,102         39,066         13,546        52,697        9,694         8,421        282        —     

Depreciation and depletion expense

     3,506         7,574         681        1,565        421         432        581        14,760   

Interest revenue

     —           —           —          —          —           —          118        118   

Interest expense

     20         25         1        19        1         4        189        259   

Income taxes

     2,219         18,627         360        560        736         347        (1,288     21,561   

Additions to property, plant and equipment

     52,300         16,937         888        1,332        247         1,733        719        74,156   

Investments in equity companies

     2,636         9,625         254        1,240        285         3,586        (197     17,429   

Total assets

     76,725         115,646         18,378        47,402        7,148         19,087        18,124        302,510   
                                                                   

As of December 31, 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   

Income taxes

     1,451         15,183         (164     (22     281         (182     (1,428     15,119   

Additions to property, plant and equipment

     2,973         13,307         1,449        1,447        294         2,553        468        22,491   

Investments in equity companies

     2,440         8,864         323        1,190        259         2,873        (207     15,742   

Total assets

     24,940         102,372         17,493        45,098        7,044         17,117        19,259        233,323   
                                                                   

As of December 31, 2008

                   

Earnings after income tax

    $ 6,243        $ 29,159        $ 1,649       $ 6,502       $ 724        $ 2,233       $ (1,290    $ 45,220   

Earnings of equity companies included above

     1,954         7,597         (2     518        105         1,411        (502     11,081   

Sales and other operating revenue (1)

     6,767         32,346         116,701        265,359        14,136         24,252        18        459,579   

Intersegment revenue

     9,617         55,069         16,225        65,723        9,925         9,749        273        —     

Depreciation and depletion expense

     1,391         7,266         656        1,672        410         422        562        12,379   

Interest revenue

     —           —           —          —          —           —          1,400        1,400   

Interest expense

     47         63         9        28        3         4        519        673   

Income taxes

     3,451         30,654         728        1,990        177         10        (480     36,530   

Additions to property, plant and equipment

     2,699         10,545         1,550        1,552        413         1,987        572        19,318   

Investments in equity companies

     2,248         7,787         456        1,382        241         2,384        (40     14,458   

Total assets

     23,056         83,750         16,328        42,044        6,856         13,300        42,718        228,052   
                                                                   
Geographic sales and other operating revenue

Geographic

Sales and other operating revenue (1)

   2010      2009      2008  
     (millions of dollars)  

United States

    $ 115,906        $ 89,847        $ 137,615   

Non-U.S.

     254,219         211,653         321,964   
                          

Total

    $ 370,125        $ 301,500        $ 459,579   
                          

Significant non-U.S. revenue sources include:

        

Canada

    $ 27,243        $ 21,151        $ 33,677   

Japan

     27,143         22,054         30,126   

United Kingdom

     24,637         20,293         29,764   

Belgium

     21,139         16,857         25,399   

Germany

     14,301         14,839         20,591   

Italy

     14,132         12,997         17,953   

France

     13,920         12,042         18,530   

Singapore

     11,088         8,400         11,059   
Schedule of long-lived assets by geographic regions

Long-lived assets

   2010      2009      2008  
     (millions of dollars)  

United States

    $ 86,021        $ 37,138        $ 35,548   

Non-U.S.

     113,527         101,978         85,798   
                          

Total

    $ 199,548        $ 139,116        $ 121,346   
                          

Significant non-U.S. long-lived assets include:

        

Canada

    $ 20,879        $ 15,919        $ 12,018   

Nigeria

     11,429         11,046         9,227   

Singapore

     8,610         7,238         5,113   

Angola

     8,570         7,320         6,129   

Norway

     6,988         7,251         5,856   

Australia

     6,570         4,247         2,857   

United Kingdom

     6,177         7,609         5,778   

Kazakhstan

     5,938         4,748         3,535   

 

(1) Sales and other operating revenue includes sales-based taxes of  $28,547 million for 2010,  $25,936 million for 2009 and  $34,508 million for 2008.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet44.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Income, Sales-Based and Other Taxes (Tables)
12 Months Ended
Dec. 31, 2010
Schedule of income, sales-based and other taxes
     2010     2009     2008  
     U.S.      Non-U.S.     Total     U.S.     Non-U.S.     Total     U.S.      Non-U.S.      Total  

Income taxes

     (millions of dollars)   

Federal and non-U.S.

                     

Current

    $ 1,224        $ 21,093       $ 22,317       $ (838    $ 15,830       $ 14,992       $ 3,005        $ 31,377        $ 34,382   

Deferred – net

     49         (1,191     (1,142     650        (665     (15     168         1,289         1,457   

U.S. tax on non-U.S. operations

     46         —          46        32        —          32        230         —           230   
                                                                           

Total federal and non-U.S.

     1,319         19,902        21,221        (156     15,165        15,009        3,403         32,666         36,069   

State

     340         —          340        110        —          110        461         —           461   
                                                                           

Total income taxes

     1,659         19,902        21,561        (46     15,165        15,119        3,864         32,666         36,530   

Sales-based taxes

     6,182         22,365        28,547        6,271        19,665        25,936        6,646         27,862         34,508   

All other taxes and duties

                     

Other taxes and duties

     776         35,342        36,118        581        34,238        34,819        1,663         40,056         41,719   

Included in production and manufacturing expenses

     1,001         1,237        2,238        699        1,318        2,017        915         1,720         2,635   

Included in SG&A expenses

     201         570        771        197        538        735        209         660         869   
                                                                           

Total other taxes and duties

     1,978         37,149        39,127        1,477        36,094        37,571        2,787         42,436         45,223   
                                                                           

Total

    $ 9,819        $ 79,416       $ 89,235       $ 7,702       $ 70,924       $ 78,626       $ 13,297        $ 102,964        $ 116,261   
                                                                           
Income taxes (charged)/credited directly to equity
     2010     2009     2008  
     (millions of dollars)  

Cumulative foreign exchange translation adjustment

    $ (42    $ (247    $ 360   

Postretirement benefits reserves adjustment:

      

Net actuarial loss/(gain)

     553        (94     3,361   

Amortization of actuarial loss/(gain)

     (609     (649     (317

Prior service cost

     92        20        4   

Amortization of prior service cost

     (45     (43     (51

Foreign exchange rate changes

     44        175        (274
                        

Total postretirement benefits reserves adjustment

     35        (591     2,723   

Other components of equity

     246        140        315   
Reconciliation between income tax expense and a theoretical U.S. tax
     2010     2009     2008  
     (millions of dollars)  

Income before income taxes

  

United States

    $ 7,711       $ 2,576       $ 10,152   

Non-U.S.

     45,248        32,201        73,245   
                        

Total

    $ 52,959       $ 34,777       $ 83,397   
                        

Theoretical tax

    $ 18,536       $ 12,172       $ 29,189   

Effect of equity method of accounting

     (3,737     (2,500     (3,878

Non-U.S. taxes in excess of theoretical U.S. tax

     7,293        5,948        10,188   

U.S. tax on non-U.S. operations

     46        32        230   

State taxes, net of federal tax benefit

     221        72        300   

Other U.S.

     (798     (605     501   
                        

Total income tax expense

    $ 21,561       $ 15,119       $ 36,530   
                        

Effective tax rate calculation

      

Income taxes

    $ 21,561       $ 15,119       $ 36,530   

ExxonMobil share of equity company income taxes

     4,058        2,489        4,001   
                        

Total income taxes

     25,619        17,608        40,531   

Net income including noncontrolling interests

     31,398        19,658        46,867   
                        

Total income before taxes

    $ 57,017       $ 37,266       $ 87,398   
                        

Effective income tax rate

     45     47     46
Deferred tax liabilities/(assets)

Tax effects of temporary differences for:

   2010     2009  
     (millions of dollars)  

Property, plant and equipment

    $ 42,657       $ 29,931   

Other liabilities

     4,278        4,102   
                

Total deferred tax liabilities

    $ 46,935       $ 34,033   
                

Pension and other postretirement benefits

    $ (5,634    $ (5,442

Asset retirement obligations

     (4,461     (3,978

Tax loss carryforwards

     (3,243     (3,693

Other assets

     (6,070     (4,700
                

Total deferred tax assets

    $ (19,408    $ (17,813
                

Asset valuation allowances

     1,183        1,495   
                

Net deferred tax liabilities

    $ 28,710       $ 17,715   
                
Deferred income tax (assets) and liabilities by balance sheet classification

Balance sheet classification

   2010     2009  
     (millions of dollars)  

Other current assets

    $ (3,359    $ (3,322

Other assets, including intangibles, net

     (3,527     (2,263

Accounts payable and accrued liabilities

     446        152   

Deferred income tax liabilities

     35,150        23,148   
                

Net deferred tax liabilities

    $ 28,710       $ 17,715   
                
Unrecognized tax benefits

Gross unrecognized tax benefits

   2010     2009     2008  
     (millions of dollars)  

Balance at January 1

    $ 4,725       $ 4,976       $ 5,232   

Additions based on current year's tax positions

     830        547        656   

Additions for prior years' tax positions

     620        262        294   

Reductions for prior years' tax positions

     (505     (594     (328

Reductions due to lapse of the statute of limitations

     (534     —          (27

Settlements with tax authorities

     (999     (592     (681

Foreign exchange effects/other

     11        126        (170
                        

Balance at December 31

    $ 4,148       $ 4,725       $ 4,976   
                        
Remaining tax years subject to examination by major tax jurisdiction

Country of Operation

  

Open Tax Years

Abu Dhabi

   2000 - 2010

Angola

   2007 - 2010

Australia

   2000 - 2010

Canada

   1994 - 2010

Equatorial Guinea

   2005 - 2010

Germany

   1999 - 2010

Japan

   2003 - 2010

Malaysia

   2004 - 2010

Nigeria

   1998 - 2010

Norway

   2000 - 2010

United Kingdom

   2004 - 2010

United States:

   1991 - 1996
   1998 - 2000
   2004 - 2010
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet45.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Acquisition of XTO Energy Inc. (Tables)
12 Months Ended
Dec. 31, 2010
Components of Consideration Transferred in Merger of XTO Energy Inc.
Recording of Assets Acquired and Liabilities Assumed in Merger of XTO Energy Inc.
Revenues and Earnings for XTO Energy Inc.
         
     Acquisition Date
Through
December 31, 2010
 
     (millions of dollars)  

Revenues

    $ 4,448   
   

Upstream earnings

    $ 262   
Pro Forma Information for the Corporation as if Merger of XTO Energy Inc. Had Occurred at Beginning of Each Year Presented
                 
     2010      2009  
     (millions of dollars, except per share amounts)  
     

Revenues

    $ 373,273        $ 307,456   
     

Net income attributable to ExxonMobil

    $ 30,668        $ 19,672   
     

Earnings per common share

    $ 6.03        $ 3.75   
     

Earnings per common share – assuming dilution

    $ 6.01        $ 3.74   
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet46.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Summary of Accounting Policies (Narrative) (Details)
12 Months Ended
Dec. 31, 2010
Consolidated financial statements, minimum voting rights of subsidiaries held by the Corporation 50 percent
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet47.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Miscellaneous Financial Information (Narrative) (Details) (USD  $)
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Research and development costs  $ 1,012,000,000  $ 1,050,000,000  $ 847,000,000
Foreign currency transaction gain (loss), before tax (251,000,000) 54,000,000 54,000,000
Gains on combined effects of LIFO inventory accumulations and draw-downs 317,000,000 207,000,000 341,000,000
Replacement cost of inventories estimated to exceed LIFO carrying values 21,300,000,000 17,100,000,000
Total cash and cash equivalents 8,453,000,000
Restricted funds 628,000,000
ExxonMobil Corporation Parent Guarantor [Member]
Restricted funds  $ 371,000,000
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet48.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Miscellaneous Financial Information (Crude Oil, Products and Merchandise) (Details) (USD  $)
Dec. 31, 2010
Dec. 31, 2009
Petroleum products  $ 3,500,000,000  $ 3,200,000,000
Crude oil 3,800,000,000 3,200,000,000
Chemical products 2,100,000,000 2,000,000,000
Gas/other 500,000,000 300,000,000
Total  $ 9,852,000,000  $ 8,718,000,000
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet49.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Cash Flow Information (Cash Payments) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Cash payments for interest  $ 703  $ 820  $ 650
Cash payments for income taxes  $ 18,941  $ 15,427  $ 33,941
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet50.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Additional Working Capital Information (Narrative) (Details) (USD  $)
Dec. 31, 2010
Dec. 31, 2009
Trade reserves  $ 152,000,000  $ 198,000,000
Other reserves 34,000,000 31,000,000
Unused credit lines for short-term financing 5,600,000,000
Commercial paper programs under terms negotiated  $ 2,800,000,000
The weighted-average interest rate on short-term borrowings outstanding 1.20% 3.60%
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet51.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Additional Working Capital Information (Schedule of Notes, Accounts Receivable and Payable, Loans Payable, Accrued Liabilities) (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Additional Working Capital Information
Trade, less reserves of  $152 million and  $198 million  $ 25,439  $ 22,186
Other, less reserves of  $34 million and  $31 million 6,845 5,459
Total 32,284 27,645
Bank loans 532 1,043
Commercial paper 1,346 201
Long-term debt due within one year 345 348
Other 564 884
Total 2,787 2,476
Trade payables 30,780 24,236
Payables to equity companies 5,450 4,979
Accrued taxes other than income taxes 6,778 5,921
Other 7,026 6,139
Total  $ 50,034  $ 41,275
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet52.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Equity Company Information (Narrative) (Details)
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Share of equity company sales revenues from consolidated companies sales revenues, as a percentage 18.00% 19.00% 21.00%
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet53.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Equity Company Information (Schedule of Equity Company Financial Summary) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Income before income taxes  $ 52,959  $ 34,777  $ 83,397
Investments (Companies carried at equity in underlying assets) 17,429 15,742
ExxonMobil Share of Equity [Member]
Total revenues 48,355 36,570 49,999
Income before income taxes 14,735 9,632 15,082
Income taxes 4,058 2,489 4,001
Income from equity affiliates 10,677 7,143 11,081
Current assets 15,860 12,843 9,920
Long-term assets 29,805 27,983 28,339
Total assets 45,665 40,826 38,259
Current liabilities 10,260 8,085 8,707
Long-term liabilities 17,976 16,999 15,094
Investments (Companies carried at equity in underlying assets) 17,429 15,742 14,458
Total Equity Company [Member]
Total revenues 153,020 112,153 148,477
Income before income taxes 48,075 28,472 42,588
Income taxes 13,962 7,775 12,020
Income from equity affiliates 34,113 20,697 30,568
Current assets 48,573 37,376 29,358
Long-term assets 90,646 88,153 87,442
Total assets 139,219 125,529 116,800
Current liabilities 33,160 24,854 26,221
Long-term liabilities 59,596 57,384 50,895
Investments (Companies carried at equity in underlying assets)  $ 46,463  $ 43,291  $ 39,684
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet54.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Equity Company Information (Schedule Of Corporation's Percentage Ownership Interest) (Details)
Dec. 31, 2010
Upstream [Member] | Aera Energy LLC [Member]
Percentage ownership interest 48.00%
Upstream [Member] | BEB Erdgas und Erdoel GmbH [Member]
Percentage ownership interest 50.00%
Upstream [Member] | Cameroon Oil Transportation Company S.A. [Member]
Percentage ownership interest 41.00%
Upstream [Member] | Castle Peak Power Company Limited [Member]
Percentage ownership interest 60.00%
Upstream [Member] | Golden Pass LNG Terminal LLC [Member]
Percentage ownership interest 18.00%
Upstream [Member] | Nederlandse Aardolie Maatschappij B.V. [Member]
Percentage ownership interest 50.00%
Upstream [Member] | Qatar Liquefied Gas Company Limited [Member]
Percentage ownership interest 10.00%
Upstream [Member] | Qatar Liquefied Gas Company Limited 2 [Member]
Percentage ownership interest 24.00%
Upstream [Member] | Ras Laffan Liquefied Natural Gas Company Limited [Member]
Percentage ownership interest 25.00%
Upstream [Member] | Ras Laffan Liquefied Natural Gas Company Limited II [Member]
Percentage ownership interest 31.00%
Upstream [Member] | Ras Laffan Liquefied Natural Gas Company Limited (3) [Member]
Percentage ownership interest 30.00%
Upstream [Member] | South Hook LNG Terminal Company Limited [Member]
Percentage ownership interest 24.00%
Upstream [Member] | Tengizchevroil, LLP [Member]
Percentage ownership interest 25.00%
Upstream [Member] | Terminale GNL Adriatico S.r.l. [Member]
Percentage ownership interest 69.00%
Downstream [Member] | Chalmette Refining, LLC [Member]
Percentage ownership interest 50.00%
Downstream [Member] | Fujian Refining and Petrochemical Co. Ltd. [Member]
Percentage ownership interest 25.00%
Downstream [Member] | Saudi Aramco Mobil Refinery Company Ltd. [Member]
Percentage ownership interest 50.00%
Chemical [Member] | Al-Jubail Petrochemical Company [Member]
Percentage ownership interest 50.00%
Chemical [Member] | Infineum Holdings B.V. [Member]
Percentage ownership interest 50.00%
Chemical [Member] | Saudi Yanbu Petrochemical Co. [Member]
Percentage ownership interest 50.00%
Chemical [Member] | Toray Tonen Specialty Separator Godo Kaisha [Member]
Percentage ownership interest 50.00%
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet55.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Investments, Advances and Long-Term Receivables (Narrative) (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Reserves for long-term receivables and miscellaneous investments  $ 292  $ 368
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet56.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Investments, Advances and Long-Term Receivables (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Investments, Advances and Long-Term Receivables
Investments (Companies carried at equity in underlying assets)  $ 17,429  $ 15,742
Advances (Companies carried at equity in underlying assets) 9,286 8,669
Total of investments and advances 26,715 24,411
Companies carried at cost or less and stock investments carried at fair value 1,557 1,577
Investments in and advance to affiliates, subsidiaries, associates, and joint ventures, total 28,272 25,988
Long-term receivables and miscellaneous investments at cost or less, net of reserves of  $292 million and  $368 million 7,066 5,677
Total  $ 35,338  $ 31,665
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet57.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Property, Plant and Equipment and Asset Retirement Obligations (Narrative) (Details) (USD  $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Accumulated depreciation and depletion  $ 174,390  $ 166,790
Interest capitalized  $ 532  $ 425  $ 510
Refinery and Lubes Basestock [Member] | Downstream [Member]
Estimated useful life of equipments 25
Service Station Buildings And Fixed Improvements [Member] | Downstream [Member]
Estimated useful life of equipments 20
Chemical [Member] | Investments In Process Equipment [Member]
Estimated useful life of equipments 20
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet58.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Property, Plant and Equipment and Asset Retirement Obligations (Property, Plant and Equipment) (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Property, plant and equipment cost  $ 373,938  $ 305,906
Property, plant and equipment, net 199,548 139,116
Upstream [Member]
Property, plant and equipment cost 264,136 198,036
Property, plant and equipment, net 148,152 88,319
Downstream [Member]
Property, plant and equipment cost 68,652 68,092
Property, plant and equipment, net 30,095 30,499
Chemical [Member]
Property, plant and equipment cost 29,524 28,464
Property, plant and equipment, net 14,255 13,511
Other [Member]
Property, plant and equipment cost 11,626 11,314
Property, plant and equipment, net  $ 7,046  $ 6,787
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet59.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Property, Plant and Equipment and Asset Retirement Obligations (Asset Retirement Obligations) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Beginning balance  $ 8,473  $ 5,352
Accretion expense and other provisions 563 372
Reduction due to property sales (183) (18)
Payments made (638) (448)
Liabilities incurred 1,094 156
Foreign currency translation (45) 535
Revisions 350 2,524
Ending balance  $ 9,614  $ 8,473
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet60.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Accounting for Suspended Exploratory Well Costs (Narrative) (Details)
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Number of projects that have exploratory well costs capitalized for a period greater than twelve months as of December 31, 2010 59 57 50
Number of projects that have drilling in the preceding twelve months or exploratory activity planned in the next two years as of December 31, 2010 25
Number of projects with completed exploratory activity progressing toward development as of December 31, 2010 34
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet61.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Accounting for Suspended Exploratory Well Costs (Change in Capitalized Suspended Exploratory Well Costs) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Capitalized exploratory well costs, beginning balance  $ 2,005  $ 1,585  $ 1,291
Additions pending the determination of proved reserves 1,103 624 448
Charged to expense (104) (51)
Reclassification to wells, facilities, and equipment based on the determination of proved reserves (136) (200) (101)
Other 25 47 (53)
Capitalized exploratory well costs, ending balance 2,893 2,005 1,585
Ending balance attributed to equity companies included above  $ 9  $ 10
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet62.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Accounting for Suspended Exploratory Well Costs (Schedule of Period End Capitalized Suspended Exploratory Well Costs) (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Dec. 31, 2007
Capitalized for a period of one year or less  $ 1,103  $ 624  $ 448
Capitalized suspended exploratory well costs, total 2,893 2,005 1,585 1,291
Capitalized for a Period of Between One and Five Years [Member]
Capitalized suspended exploratory well costs 1,294 924 636
Capitalized for a Period of Between Five and Ten Years [Member]
Capitalized suspended exploratory well costs 278 220 225
Capitalized for a Period of Greater than Ten Years [Member]
Capitalized suspended exploratory well costs 218 237 276
Capitalized for a Period Greater than One Year [Member]
Capitalized suspended exploratory well costs  $ 1,790  $ 1,381  $ 1,137
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet63.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Accounting for Suspended Exploratory Well Costs (Schedule of Number of Projects with Suspended Exploratory Well Costs) (Details)
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Number of projects with first capitalized well drilled in the preceding 12 months 9 18 12
Number of projects that have exploratory well costs capitalized for a period of greater than 12 months 59 57 50
Total 68 75 62
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet64.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Accounting for Suspended Exploratory Well Costs (Schedule of Additional Detail for the Projects) (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Dec. 31, 2007
Capitalized exploratory well costs  $ 2,893  $ 2,005  $ 1,585  $ 1,291
Angola [Member] | Project in Angola - Perpetua-Zina- Acacia [Member]
Capitalized exploratory well costs 15
Years wells drilled, period 2008 - 2009
Australia [Member] | Project in Australia - East Pilchard [Member]
Capitalized exploratory well costs 10
Years wells drilled, period 2001
Indonesia [Member] | Project in Indonesia - Natuna [Member]
Capitalized exploratory well costs 118
Years wells drilled, period 1981 - 1983
Kazakhstan [Member] | Project in Kazakhstan - Kairan [Member]
Capitalized exploratory well costs 53
Years wells drilled, period 2004 - 2007
Nigeria [Member] | Project in Nigeria - Bolia [Member]
Capitalized exploratory well costs 15
Years wells drilled, period 2002 - 2006
Nigeria [Member] | Project in Nigeria - Bonga North [Member]
Capitalized exploratory well costs 34
Years wells drilled, period 2004 - 2009
Nigeria [Member] | Project in Nigeria - Bosi [Member]
Capitalized exploratory well costs 79
Years wells drilled, period 2002 - 2006
Nigeria [Member] | Other 5 Projects in Nigeria [Member]
Capitalized exploratory well costs 16
Years wells drilled, period 2001 - 2002
Norway [Member] | Project in Norway - Gamma [Member]
Capitalized exploratory well costs 20
Years wells drilled, period 2008 - 2009
Norway [Member] | Project in Norway - H-North [Member]
Capitalized exploratory well costs 15
Years wells drilled, period 2007
Norway [Member] | Project in Norway - Lavrans [Member]
Capitalized exploratory well costs 23
Years wells drilled, period 1995 - 1999
Norway [Member] | Project in Norway - Noatun [Member]
Capitalized exploratory well costs 19
Years wells drilled, period 2008
Norway [Member] | Project in Norway - Nyk High [Member]
Capitalized exploratory well costs 20
Years wells drilled, period 2008
Norway [Member] | Other 8 Projects in Norway [Member]
Capitalized exploratory well costs 34
Years wells drilled, period 1992 - 2009
Papua New Guinea [Member] | Project in Papua New Guinea - Juha [Member]
Capitalized exploratory well costs 28
Years wells drilled, period 2007
United Kingdom [Member] | Project in United Kingdom - Fram [Member]
Capitalized exploratory well costs 55
Years wells drilled, period 2009
United Kingdom [Member] | Other 3 Projects in United Kingdom [Member]
Capitalized exploratory well costs 21
Years wells drilled, period 2001 - 2008
United States [Member] | Project in United States - Julia Unit [Member]
Capitalized exploratory well costs 78
Years wells drilled, period 2007 - 2008
United States [Member] | Project in United States - Tip Top [Member]
Capitalized exploratory well costs 31
Years wells drilled, period 2009
Other Countries [Member] | Other - Various 2 Projects [Member]
Capitalized exploratory well costs 8
Years wells drilled, period 1979 - 1995
Total 34 Projects [Member]
Capitalized exploratory well costs  $ 692
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet65.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Leased Facilities (Narrative) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Minimum undiscounted lease commitments  $ 7,776
Estimated related rental income from noncancelable subleases  $ 62
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet66.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Leased Facilities (Leased Facilities) (Details) (USD  $)
In Millions
Dec. 31, 2010
Lease payments under minimum commitments, 2011  $ 2,095
Lease payments under minimum commitments, 2012 1,570
Lease payments under minimum commitments, 2013 1,061
Lease payments under minimum commitments, 2014 731
Lease payments under minimum commitments, 2015 581
Lease payments under minimum commitments, 2016 and beyond 1,738
Lease payments under minimum commitments, total 7,776
Related sublease rental income, 2011 8
Related sublease rental income, 2012 8
Related sublease rental income, 2013 7
Related sublease rental income, 2014 6
Related sublease rental income, 2015 6
Related sublease rental income, 2016 and beyond 27
Related sublease rental income, total  $ 62
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet67.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Leased Facilities (Net Rental Cost) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Rental cost  $ 3,762  $ 4,426  $ 4,115
Less sublease rental income 90 98 123
Net rental cost  $ 3,672  $ 4,328  $ 3,992
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet68.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Earnings Per Share (Details) (USD  $)
In Millions, except Per Share data
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Net income attributable to ExxonMobil  $ 30,460  $ 19,280  $ 45,220
Earnings per common share (dollars)  $ 6.24  $ 3.99  $ 8.7
Earnings per common share - assuming dilution (dollars)  $ 6.22  $ 3.98  $ 8.66
Dividends paid per common share (dollars)  $ 1.74  $ 1.66  $ 1.55
Earnings Per Common Share [Member]
Net income attributable to ExxonMobil 30,460 19,280 45,220
Weighted average number of common shares outstanding 4,885 4,832 5,194
Earnings per common share (dollars)  $ 6.24  $ 3.99  $ 8.7
Earnings Per Common Share - Assuming Dilution [Member]
Net income attributable to ExxonMobil  $ 30,460  $ 19,280  $ 45,220
Weighted average number of common shares outstanding 4,885 4,832 5,194
Effect of employee stock-based awards 12 16 27
Weighted average number of common shares outstanding - assuming dilution 4,897 4,848 5,221
Earnings per common share - assuming dilution (dollars)  $ 6.22  $ 3.98  $ 8.66
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet69.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Financial Instruments and Derivatives (Narrative) (Details) (USD  $)
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Estimated fair value of total long-term debt including capitalized lease obligations  $ 12,800,000,000  $ 7,700,000,000
Recorded book values of total long-term debt including capitalized lease obligations 12,227,000,000 7,129,000,000
Derivative assets at fair value, net 172,000,000
Derivative liabilities at fair value, net 5,000,000
Derivative instruments net asset balance acquired as a result of XTO merger 219,000,000
Gain (loss) before-tax earnings impact of derivatives 221,000,000 (73,000,000) 154,000,000
Volume (millions of cubic feet daily) 250
Weighted average NYMEX price (per thousand cubic feet)  $ 7.02
Cash Flow Hedge [Member]
Gain (loss) before-tax earnings impact of derivatives  $ 218,000,000
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet70.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Long-Term Debt (Narrative) (Details) (USD  $)
In Millions, unless otherwise specified
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2010
Guaranteed Deferred Interest Debentures Due 2012 [Member]
SeaRiver Maritime Financial Holdings, Inc. [Member]
Dec. 31, 2009
Guaranteed Deferred Interest Debentures Due 2012 [Member]
SeaRiver Maritime Financial Holdings, Inc. [Member]
Dec. 31, 2010
Guaranteed Debt Securities Due 2011 [Member]
SeaRiver Maritime Financial Holdings, Inc. [Member]
Dec. 31, 2010
SeaRiver Maritime Financial Holdings, Inc. [Member]
Long-term debt due in U.S. dollars  $ 11,610
U.S. dollar equivalent at year-end exchange rates of amounts payable in foreign currencies 617
Portion of long-term debt included in current liability 345 348
Long-term debt maturing, together with sinking fund payments required - 2012 3,222
Long-term debt maturing, together with sinking fund payments required - 2013 1,019
Long-term debt maturing, together with sinking fund payments required - 2014 622
Long-term debt maturing, together with sinking fund payments required - 2015 601
Long-term debt  $ 2,389 [1]  $ 2,144 [1]  $ 13
Equity method investments, ownership percentage 100
[1] Additional information is provided for this subsidiary on the following pages.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet71.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Long-Term Debt (Schedule of Summarized Long-Term Debt) (Details) (USD  $)
In Millions, unless otherwise specified
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2009
Guaranteed Debt Securities Due 2011 [Member]
SeaRiver Maritime Financial Holdings, Inc. [Member]
Dec. 31, 2010
Guaranteed Debt Securities Due 2011 [Member]
SeaRiver Maritime Financial Holdings, Inc. [Member]
Dec. 31, 2010
Guaranteed Deferred Interest Debentures Due 2012 [Member]
SeaRiver Maritime Financial Holdings, Inc. [Member]
Dec. 31, 2009
Guaranteed Deferred Interest Debentures Due 2012 [Member]
SeaRiver Maritime Financial Holdings, Inc. [Member]
Dec. 31, 2010
7.500% Senior Note Due 2012 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
5.900% Senior Note Due 2012 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
6.250% Senior Note Due 2013 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
4.625% Senior Note Due 2013 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
5.750% Senior Note Due 2013 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
4.900% Senior Note Due 2014 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
5.000% Senior Note Due 2015 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
5.300% Senior Note Due 2015 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
5.650% Senior Note Due 2016 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
6.250% Senior Note Due 2017 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
5.500% Senior Note Due 2018 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
6.500% Senior Note Due 2018 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
6.100% Senior Note Due 2036 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
6.750% Senior Note Due 2037 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
6.375% Senior Note Due 2038 [Member]
XTO Energy Inc. [Member]
Dec. 31, 2010
Variable Note Due 2035 [Member]
Mobil Services (Bahamas) Ltd. [Member]
Dec. 31, 2009
Variable Note Due 2035 [Member]
Mobil Services (Bahamas) Ltd. [Member]
Dec. 31, 2010
Variable Note Due 2034 [Member]
Mobil Services (Bahamas) Ltd. [Member]
Dec. 31, 2009
Variable Note Due 2034 [Member]
Mobil Services (Bahamas) Ltd. [Member]
Dec. 31, 2010
Variable Notes Due 2012-2017 [Member]
Mobil Producing Nigeria Unlimited [Member]
Dec. 31, 2009
Variable Notes Due 2012-2017 [Member]
Mobil Producing Nigeria Unlimited [Member]
Dec. 31, 2010
Variable Notes Due 2012-2017 [Member]
Esso Thailand Public Company Ltd [Member]
Dec. 31, 2009
Variable Notes Due 2012-2017 [Member]
Esso Thailand Public Company Ltd [Member]
Dec. 31, 2010
Debentures Due 2021 [Member]
Mobil Corporation [Member]
Dec. 31, 2009
Debentures Due 2021 [Member]
Mobil Corporation [Member]
Dec. 31, 2010
Industrial revenue bonds due 2012-2040 [Member]
Combined Exxon Mobil And Affiliates [Member]
Dec. 31, 2009
Industrial revenue bonds due 2012-2040 [Member]
Combined Exxon Mobil And Affiliates [Member]
Dec. 31, 2010
Other U.S. Dollar Obligations [Member]
Combined Exxon Mobil And Affiliates [Member]
Dec. 31, 2009
Other U.S. Dollar Obligations [Member]
Combined Exxon Mobil And Affiliates [Member]
Dec. 31, 2010
Other Foreign Currency Obligations [Member]
Combined Exxon Mobil And Affiliates [Member]
Dec. 31, 2009
Other Foreign Currency Obligations [Member]
Combined Exxon Mobil And Affiliates [Member]
Dec. 31, 2010
Capitalized Lease Obligations [Member]
Combined Exxon Mobil And Affiliates [Member]
Dec. 31, 2009
Capitalized Lease Obligations [Member]
Combined Exxon Mobil And Affiliates [Member]
Dec. 31, 2010
SeaRiver Maritime Financial Holdings, Inc. [Member]
Dec. 31, 2009
SeaRiver Maritime Financial Holdings, Inc. [Member]
Dec. 31, 2010
Esso Thailand Public Company Ltd [Member]
Dec. 31, 2009
Esso Thailand Public Company Ltd [Member]
Long-term debt  $ 13  $ 2,389 [1]  $ 2,144 [1]
Senior notes, noncurrent 199 233 193 149 359 267 142 262 227 534 420 524 204 329 258 972 [2] 972 [2] 311 [3] 311 [3] 415 [4] 621 [4] 522 [5] 165 [5]
Other long-term debt 248 248 2,247 [6] 1,685 [6]
Other U.S. dollar obligations 454 [7] 536 [7]
Other foreign currency obligations 65 66
Debt Instrument, Unamortized Premium 15 16 18 9 37 19 13 28 27 80 49 86 29 69 46
Interest rate 7.50% 5.90% 6.25% 4.63% 5.75% 4.90% 5.00% 5.30% 5.65% 6.25% 5.50% 6.50% 6.10% 6.75% 6.38% 8.63% 8.63%
Debt maturity Oct 1, 2011 [1] Sep 1, 2012 [1] Sep 1, 2012 [1] Apr 15, 2012 Aug 1, 2012 Apr 15, 2013 Jun 15, 2013 Dec 15, 2013 Feb 1, 2014 Jan 31, 2015 Jun 30, 2015 Apr 1, 2016 Aug 1, 2017 Jun 15, 2018 Dec 15, 2018 Apr 1, 2036 Aug 1, 2037 Jun 15, 2038 May 18, 2035 May 18, 2035 Sep 15, 2034 Sep 15, 2034 Aug 15, 2021 Aug 15, 2021
Debt Instrument, maturity date range, start 2012-12-31 2012-12-31 2012-12-31 2012-12-31 2012-12-31 2012-12-31
Debt Instrument, maturity date range, end 2017-12-31 2017-12-31 2040-12-31 2040-12-31 2017-12-31 2017-12-31
Average effective interest rate 1.60% 0.30% 0.30% 0.40% 0.90% 4.60% 5.40% 1.70% 2.20% 0.20% 0.20% 4.70% 5.00% 8.10% 8.80%
Long-term debt  $ 12,227  $ 7,129  $ 13 [1],[8]  $ 304 [9]  $ 368 [9]  $ 2,389  $ 2,157
[1] Additional information is provided for this subsidiary on the following pages.
[2] Average effective interest rate of 0.3% in 2010 and 0.3% in 2009.
[3] Average effective interest rate of 0.4% in 2010 and 0.9% in 2009.
[4] Average effective interest rate of 4.6% in 2010 and 5.4% in 2009.
[5] Average effective interest rate of 1.7% in 2010 and 2.2% in 2009.
[6] Average effective interest rate of 0.2% in 2010 and 0.2% in 2009.
[7] Average effective interest rate of 4.7% in 2010 and 5.0% in 2009.
[8] Average effective interest rate of 1.6% in 2009.
[9] Average imputed interest rate of 8.1% in 2010 and 8.8% in 2009.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet72.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Long-Term Debt (Statement of Income) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Sales and other operating revenue, including sales-based taxes  $ 370,125 [1]  $ 301,500 [1]  $ 459,579 [1]
Income from equity affiliates 10,677 7,143 11,081
Other income 2,419 [2] 1,943 [2] 6,699 [2]
Total revenues and other income 383,221 310,586 477,359
Crude oil and product purchases 197,959 152,806 249,454
Production and manufacturing expenses 35,792 33,027 37,905
Selling, general and administrative expenses 14,683 14,735 15,873
Depreciation and depletion 14,760 11,917 12,379
Exploration expenses, including dry holes 2,144 2,021 1,451
Interest expense 259 548 673
Sales-based taxes 28,547 [1] 25,936 [1] 34,508 [1]
Other taxes and duties 36,118 34,819 41,719
Total costs and other deductions 330,262 275,809 393,962
Income before income taxes 52,959 34,777 83,397
Income taxes 21,561 15,119 36,530
Net income including noncontrolling interests 31,398 19,658 46,867
Net income attributable to noncontrolling interests 938 378 1,647
Net income attributable to ExxonMobil 30,460 19,280 45,220
ExxonMobil Corporation Parent Guarantor [Member]
Sales and other operating revenue, including sales-based taxes 15,382 11,352 17,481
Income from equity affiliates 28,401 19,852 45,664
Other income 790 813 302
Intercompany revenue 39,433 30,889 48,414
Total revenues and other income 84,006 62,906 111,861
Crude oil and product purchases 40,788 31,419 48,346
Production and manufacturing expenses 7,627 7,811 8,327
Selling, general and administrative expenses 2,871 2,574 3,349
Depreciation and depletion 1,761 1,571 1,552
Exploration expenses, including dry holes 251 230 192
Interest expense 217 1,200 3,859
Sales-based taxes    
Other taxes and duties 29 (29) 67
Total costs and other deductions 53,544 44,776 65,692
Income before income taxes 30,462 18,130 46,169
Income taxes 2 (1,150) 949
Net income including noncontrolling interests 30,460 19,280 45,220
Net income attributable to noncontrolling interests    
Net income attributable to ExxonMobil 30,460 19,280 45,220
SeaRiver Maritime Financial Holdings, Inc. [Member]
Sales and other operating revenue, including sales-based taxes  
Income from equity affiliates (2) 7 9
Other income  
Intercompany revenue 4 4 45
Total revenues and other income 2 11 54
Crude oil and product purchases  
Production and manufacturing expenses  
Selling, general and administrative expenses  
Depreciation and depletion  
Exploration expenses, including dry holes  
Interest expense 246 222 207
Sales-based taxes  
Other taxes and duties  
Total costs and other deductions 246 222 207
Income before income taxes (244) (211) (153)
Income taxes (90) (81) (56)
Net income including noncontrolling interests (154) (130) (97)
Net income attributable to noncontrolling interests  
Net income attributable to ExxonMobil (154) (130) (97)
All Other Subsidiaries [Member]
Sales and other operating revenue, including sales-based taxes 354,743 290,148 442,098
Income from equity affiliates 10,589 7,060 11,055
Other income 1,629 1,130 6,397
Intercompany revenue 332,483 271,663 442,305
Total revenues and other income 699,444 570,001 901,855
Crude oil and product purchases 518,961 411,689 669,107
Production and manufacturing expenses 33,400 30,805 35,298
Selling, general and administrative expenses 12,482 12,852 13,364
Depreciation and depletion 12,999 10,346 10,827
Exploration expenses, including dry holes 1,893 1,791 1,259
Interest expense 4,035 5,126 13,143
Sales-based taxes 28,547 25,936 34,508
Other taxes and duties 36,089 34,848 41,652
Total costs and other deductions 648,406 533,393 819,158
Income before income taxes 51,038 36,608 82,697
Income taxes 21,649 16,350 35,637
Net income including noncontrolling interests 29,389 20,258 47,060
Net income attributable to noncontrolling interests 938 378 1,647
Net income attributable to ExxonMobil 28,451 19,880 45,413
Consolidating and Eliminating Adjustments [Member]
Sales and other operating revenue, including sales-based taxes      
Income from equity affiliates (28,311) (19,776) (45,647)
Other income      
Intercompany revenue (371,920) (302,556) (490,764)
Total revenues and other income (400,231) (322,332) (536,411)
Crude oil and product purchases (361,790) (290,302) (467,999)
Production and manufacturing expenses (5,235) (5,589) (5,720)
Selling, general and administrative expenses (670) (691) (840)
Depreciation and depletion      
Exploration expenses, including dry holes      
Interest expense (4,239) (6,000) (16,536)
Sales-based taxes      
Other taxes and duties      
Total costs and other deductions (371,934) (302,582) (491,095)
Income before income taxes (28,297) (19,750) (45,316)
Income taxes      
Net income including noncontrolling interests (28,297) (19,750) (45,316)
Net income attributable to noncontrolling interests      
Net income attributable to ExxonMobil (28,297) (19,750) (45,316)
Consolidated [Member]
Sales and other operating revenue, including sales-based taxes 370,125 301,500 459,579
Income from equity affiliates 10,677 7,143 11,081
Other income 2,419 1,943 6,699
Intercompany revenue  
Total revenues and other income 383,221 310,586 477,359
Crude oil and product purchases 197,959 152,806 249,454
Production and manufacturing expenses 35,792 33,027 37,905
Selling, general and administrative expenses 14,683 14,735 15,873
Depreciation and depletion 14,760 11,917 12,379
Exploration expenses, including dry holes 2,144 2,021 1,451
Interest expense 259 548 673
Sales-based taxes 28,547 25,936 34,508
Other taxes and duties 36,118 34,819 41,719
Total costs and other deductions 330,262 275,809 393,962
Income before income taxes 52,959 34,777 83,397
Income taxes 21,561 15,119 36,530
Net income including noncontrolling interests 31,398 19,658 46,867
Net income attributable to noncontrolling interests 938 378 1,647
Net income attributable to ExxonMobil  $ 30,460  $ 19,280  $ 45,220
[1] Sales and other operating revenue includes sales-based taxes of  $28,547 million for 2010,  $25,936 million for 2009 and  $34,508 million for 2008.
[2] 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.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet73.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Long-Term Debt (Balance Sheet) (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Dec. 31, 2007
Cash and cash equivalents  $ 7,825  $ 10,693  $ 31,437  $ 33,981
Cash and cash equivalents - restricted 628
Marketable securities 2 169
Notes and accounts receivable - net 32,284 27,645
Other current assets 5,269 5,175
Total current assets 58,984 55,235
Investments, advances and long-term receivables 35,338 31,665
Property, plant and equipment - net 199,548 139,116
Other long-term assets 8,640 7,307
Total assets 302,510 233,323
Notes and loans payable 2,787 2,476
Accounts payable and accrued liabilities 50,034 41,275
Income taxes payable 9,812 8,310
Total current liabilities 62,633 52,061
Long-term debt 12,227 7,129
Postretirement benefits reserves 19,367 17,942
Deferred income tax liabilities 35,150 23,148
Other long-term liabilities 20,454 17,651
Total liabilities 149,831 117,931
Earnings reinvested 298,899 276,937
ExxonMobil share of equity 146,839 110,569
Noncontrolling interests 5,840 4,823
Total equity 152,679 115,392 117,523 126,044
Total liabilities and equity 302,510 233,323
ExxonMobil Corporation Parent Guarantor [Member]
Cash and cash equivalents 309 449
Cash and cash equivalents - restricted 371
Marketable securities    
Notes and accounts receivable - net 2,104 2,050
Inventories 1,457 1,202
Other current assets 239 313
Total current assets 4,480 4,014
Investments, advances and long-term receivables 254,781 199,110
Property, plant and equipment - net 18,830 18,015
Other long-term assets 224 207
Intercompany receivables 18,186 19,637
Total assets 296,501 240,983
Notes and loans payable 1,042 43
Accounts payable and accrued liabilities 2,987 2,779
Income taxes payable    
Total current liabilities 4,029 2,822
Long-term debt 295 279
Postretirement benefits reserves 9,660 8,673
Deferred income tax liabilities 642 818
Other long-term liabilities 5,632 5,286
Intercompany payables 129,404 112,536
Total liabilities 149,662 130,414
Earnings reinvested 298,899 276,937
Other equity (152,060) (166,368)
ExxonMobil share of equity 146,839 110,569
Noncontrolling interests    
Total equity 146,839 110,569
Total liabilities and equity 296,501 240,983
SeaRiver Maritime Financial Holdings, Inc. [Member]
Cash and cash equivalents    
Cash and cash equivalents - restricted  
Marketable securities    
Notes and accounts receivable - net    
Inventories    
Other current assets    
Total current assets    
Investments, advances and long-term receivables 446 449
Property, plant and equipment - net    
Other long-term assets 12 24
Intercompany receivables 2,457 2,257
Total assets 2,915 2,730
Notes and loans payable 13 13
Accounts payable and accrued liabilities    
Income taxes payable 3 2
Total current liabilities 16 15
Long-term debt 2,389 2,157
Postretirement benefits reserves    
Deferred income tax liabilities 107 151
Other long-term liabilities    
Intercompany payables 382 382
Total liabilities 2,894 2,705
Earnings reinvested (848) (694)
Other equity 869 719
ExxonMobil share of equity 21 25
Noncontrolling interests    
Total equity 21 25
Total liabilities and equity 2,915 2,730
All Other Subsidiaries [Member]
Cash and cash equivalents 7,516 10,244
Cash and cash equivalents - restricted 257
Marketable securities 2 169
Notes and accounts receivable - net 30,346 25,858
Inventories 11,519 10,351
Other current assets 5,030 4,862
Total current assets 54,670 51,484
Investments, advances and long-term receivables 454,489 439,712
Property, plant and equipment - net 180,718 121,101
Other long-term assets 8,404 7,076
Intercompany receivables 528,405 442,903
Total assets 1,226,686 1,062,276
Notes and loans payable 1,732 2,420
Accounts payable and accrued liabilities 47,047 38,496
Income taxes payable 9,975 8,571
Total current liabilities 58,754 49,487
Long-term debt 9,543 4,693
Postretirement benefits reserves 9,707 9,269
Deferred income tax liabilities 34,401 22,179
Other long-term liabilities 14,822 12,365
Intercompany payables 419,262 351,879
Total liabilities 546,489 449,872
Earnings reinvested 132,357 109,603
Other equity 542,000 497,978
ExxonMobil share of equity 674,357 607,581
Noncontrolling interests 5,840 4,823
Total equity 680,197 612,404
Total liabilities and equity 1,226,686 1,062,276
Consolidating and Eliminating Adjustments [Member]
Cash and cash equivalents    
Cash and cash equivalents - restricted  
Marketable securities    
Notes and accounts receivable - net (166) (263)
Inventories    
Other current assets    
Total current assets (166) (263)
Investments, advances and long-term receivables (674,378) (607,606)
Property, plant and equipment - net    
Other long-term assets    
Intercompany receivables (549,048) (464,797)
Total assets (1,223,592) (1,072,666)
Notes and loans payable    
Accounts payable and accrued liabilities    
Income taxes payable (166) (263)
Total current liabilities (166) (263)
Long-term debt    
Postretirement benefits reserves    
Deferred income tax liabilities    
Other long-term liabilities    
Intercompany payables (549,048) (464,797)
Total liabilities (549,214) (465,060)
Earnings reinvested (131,509) (108,909)
Other equity (542,869) (498,697)
ExxonMobil share of equity (674,378) (607,606)
Noncontrolling interests    
Total equity (674,378) (607,606)
Total liabilities and equity (1,223,592) (1,072,666)
Consolidated [Member]
Cash and cash equivalents 7,825 10,693
Cash and cash equivalents - restricted 628
Marketable securities 2 169
Notes and accounts receivable - net 32,284 27,645
Inventories 12,976 11,553
Other current assets 5,269 5,175
Total current assets 58,984 55,235
Investments, advances and long-term receivables 35,338 31,665
Property, plant and equipment - net 199,548 139,116
Other long-term assets 8,640 7,307
Intercompany receivables  
Total assets 302,510 233,323
Notes and loans payable 2,787 2,476
Accounts payable and accrued liabilities 50,034 41,275
Income taxes payable 9,812 8,310
Total current liabilities 62,633 52,061
Long-term debt 12,227 7,129
Postretirement benefits reserves 19,367 17,942
Deferred income tax liabilities 35,150 23,148
Other long-term liabilities 20,454 17,651
Intercompany payables    
Total liabilities 149,831 117,931
Earnings reinvested 298,899 276,937
Other equity (152,060) (166,368)
ExxonMobil share of equity 146,839 110,569
Noncontrolling interests 5,840 4,823
Total equity 152,679 115,392
Total liabilities and equity  $ 302,510  $ 233,323
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet74.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Long-Term Debt (Cash Flows) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Cash provided by/(used in) operating activities  $ 48,413  $ 28,438  $ 59,725
Additions to property, plant and equipment (26,871) (22,491) (19,318)
Sales of long-term assets 3,261 1,545 5,985
Decrease/(increase) in restricted cash and cash equivalents 628
Net cash provided by/(used in) investing activities (24,204) (22,419) (15,499)
Cash dividends to ExxonMobil shareholders (8,948) (8,023) (8,058)
Net cash provided by/(used in) financing activities (26,924) (27,283) (44,027)
Effects of exchange rate changes on cash (153) 520 (2,743)
Increase/(decrease) in cash and cash equivalents (2,868) (20,744) (2,544)
ExxonMobil Corporation Parent Guarantor [Member]
Cash provided by/(used in) operating activities 35,740 27,424 47,823
Additions to property, plant and equipment (2,922) (2,686) (2,154)
Sales of long-term assets 1,484 228 162
Decrease/(increase) in restricted cash and cash equivalents (371)  
Net intercompany investing (13,966) (1,826) (502)
All other investing, net (672)  
Net cash provided by/(used in) investing activities (16,447) (4,284) (2,494)
Additions to short- and long-term debt    
Reductions in short- and long-term debt (3) (3) (4)
Additions/(reductions) in debt with three months or less maturity 997 39
Cash dividends to ExxonMobil shareholders (8,498) (8,023) (8,058)
Common stock acquired (13,093) (19,703) (35,734)
Net intercompany financing activity    
All other financing, net 1,164 988 1,085
Net cash provided by/(used in) financing activities (19,433) (26,702) (42,711)
Effects of exchange rate changes on cash    
Increase/(decrease) in cash and cash equivalents (140) (3,562) 2,618
SeaRiver Maritime Financial Holdings, Inc. [Member]
Cash provided by/(used in) operating activities 63 72 68
Additions to property, plant and equipment    
Sales of long-term assets    
Decrease/(increase) in restricted cash and cash equivalents    
Net intercompany investing (200) (209) (155)
All other investing, net    
Net cash provided by/(used in) investing activities (200) (209) (155)
Additions to short- and long-term debt    
Reductions in short- and long-term debt (13) (13) (13)
Additions/(reductions) in debt with three months or less maturity    
Cash dividends to ExxonMobil shareholders    
Common stock acquired    
Net intercompany financing activity    
All other financing, net 150 150 100
Net cash provided by/(used in) financing activities 137 137 87
Effects of exchange rate changes on cash    
Increase/(decrease) in cash and cash equivalents    
All Other Subsidiaries [Member]
Cash provided by/(used in) operating activities 18,307 28,024 54,478
Additions to property, plant and equipment (23,949) (19,805) (17,164)
Sales of long-term assets 1,777 1,317 5,823
Decrease/(increase) in restricted cash and cash equivalents (257)
Net intercompany investing 13,813 1,717 476
All other investing, net 706 (1,473) (2,166)
Net cash provided by/(used in) investing activities (7,910) (18,244) (13,031)
Additions to short- and long-term debt 1,741 1,561 1,146
Reductions in short- and long-term debt (8,644) (1,627) (1,799)
Additions/(reductions) in debt with three months or less maturity (288) (110) 143
Cash dividends to ExxonMobil shareholders (5,697) (27,082) (42,644)
Net intercompany financing activity 202 168 81
All other financing, net (286) (392) (793)
Net cash provided by/(used in) financing activities (12,972) (27,482) (43,866)
Effects of exchange rate changes on cash (153) 520 (2,743)
Increase/(decrease) in cash and cash equivalents (2,728) (17,182) (5,162)
Consolidating and Eliminating Adjustments [Member]
Cash provided by/(used in) operating activities (5,697) (27,082) (42,644)
Additions to property, plant and equipment    
Sales of long-term assets    
Decrease/(increase) in restricted cash and cash equivalents    
Net intercompany investing 353 318 181
All other investing, net    
Net cash provided by/(used in) investing activities 353 318 181
Additions to short- and long-term debt    
Reductions in short- and long-term debt    
Additions/(reductions) in debt with three months or less maturity    
Cash dividends to ExxonMobil shareholders 5,697 27,082 42,644
Common stock acquired    
Net intercompany financing activity (202) (168) (81)
All other financing, net (151) (150) (100)
Net cash provided by/(used in) financing activities 5,344 26,764 42,463
Effects of exchange rate changes on cash    
Increase/(decrease) in cash and cash equivalents    
Consolidated [Member]
Cash provided by/(used in) operating activities 48,413 28,438 59,725
Additions to property, plant and equipment (26,871) (22,491) (19,318)
Sales of long-term assets 3,261 1,545 5,985
Decrease/(increase) in restricted cash and cash equivalents (628)
All other investing, net 34 (1,473) (2,166)
Net cash provided by/(used in) investing activities (24,204) (22,419) (15,499)
Additions to short- and long-term debt 1,741 1,561 1,146
Reductions in short- and long-term debt (8,660) (1,643) (1,816)
Additions/(reductions) in debt with three months or less maturity 709 (71) 143
Cash dividends to ExxonMobil shareholders (8,498) (8,023) (8,058)
Common stock acquired (13,093) (19,703) (35,734)
Net intercompany financing activity  
All other financing, net 877 596 292
Net cash provided by/(used in) financing activities (26,924) (27,283) (44,027)
Effects of exchange rate changes on cash (153) 520 (2,743)
Increase/(decrease) in cash and cash equivalents  $ (2,868)  $ (20,744)  $ (2,544)
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet75.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Incentive Program (Narrative) (Details) (USD  $)
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Minimum ownership of affiliates needed for awards 50.00%
Number of shares issuable under 2003 incentive program 220,000,000
Remaining shares available for award under 2003 incentive program 141,939,000
Options and stock appreciation rights grant, minimum percentage of market value, date of grant 100.00%
Award grant, maximum life or term, years 10
Cash received from stock option exercises  $ 1,043,000,000  $ 752,000,000  $ 753,000,000
Cash tax benefit realized for options exercised 89,000,000 164,000,000 273,000,000
Aggregate intrinsic value of stock options exercised 539,000,000 563,000,000 894,000,000
Intrinsic value, outstanding stock options 868,000,000
Total estimated fair value calculated at acquisition for converted XTO stock-based awards 352,000,000
Percent of awards having vesting periods of two or three year granted to senior executives as part of merger 50.00%
Percent of awards having vesting periods of one year granted to senior executives as part of merger 50.00%
Years until first 50 percent of awards granted to certain XTO executives vest 1
Years until second 50 percent of awards granted to certain XTO executives vest minimum 2
Years until second 50 percent of awards granted to certain XTO executives vest maximum 3
1998 Plan [Member]
Maximum term in years 10
2004 Plan [Member]
Maximum term in years 7
Stock Option [Member] | Stock Options [Member] | Non-Vested XTO Stock Options [Member]
Unrecognized compensation cost 1,000,000
Acquisition of XTO Energy Inc [Member]
Long-term incentive awards 4,206,000
Fair value of shares/awards vested 182,000,000
Converted stock options granted 12,393,000
Unvested converted stock options at grant date 893,000
Period the majority of converted XTO awards vest over in annual installments minimum 3
Period the majority of converted XTO awards vest over in annual installments maximum 3.5
Period over which stock options granted by XTO to certain senior XTO employees vest and become exercisable 1
Acquisition of XTO Energy Inc [Member] | Granted And Converted Restricted Stock [Member]
Converted restricted stock awards 2,783,000
Granted restricted stock awards 1,423,000
Stock Options [Member]
Compensation cost charged against income 0 0
Stock options exercisable, vesting period, years 3
Unvested converted stock options at period end 574,000
Options that vest ratably 130,000
Options that vest at stock prices 444,000
Options that vest at stock price, minimum  $ 76.08
Options that vest at stock price, maximum  $ 126.8
Restricted Stock [Member]
Long-term incentive awards 10,648,000 10,133,000 10,116,000
Award vesting period, first half of awards, years 3
Awards granted to senior executives, vesting periods, first half of awards, years 5
Awards granted to senior executives, vesting periods, remaining awards, years 10
Unrecognized compensation cost 2,133,000,000
Unrecognized compensation cost, weighted-average period of recognition, years 4.3
Compensation cost charged against income 801,000,000 723,000,000 648,000,000
Income tax benefit recognized in income 81,000,000 76,000,000 75,000,000
Fair value of shares/awards vested 718,000,000 763,000,000 438,000,000
Cash payments, vested restricted stock units 42,000,000 41,000,000 25,000,000
Award vesting period, maximum 7
Percent of the shares in each award vesting after three years 50.00%
Percent of the shares in each award vesting after seven years 50.00%
Awards having vesting periods of one year granted to senior executives as part of merger 50.00%
Percent of awards having vesting periods of two or three year granted to senior executives as part of merger 50.00%
Years until first 50 percent of awards granted to certain XTO executives vest 5
Vested, shares (10,377,000)
Performance Stock [Member]
Unrecognized compensation cost 1,000,000
Compensation cost charged against income 3,000,000
Vested, shares 80,000
Converted XTO Performance Stock Awards [Member]
Converted performance stock awards 157,000
Fair value converted XTO performance awards 5,000,000
Non-Vested XTO Stock Options [Member]
Compensation cost charged against income 2,000,000
Aggregate intrinsic value of stock options exercisable  $ 865,000,000
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet76.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Incentive Program (Summary of Restricted Stock and Units Outstanding) (Details) (Restricted Stock [Member], USD  $)
In Thousands, except Per Share data
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Issued and outstanding restricted stock, shares 43,503
2009 award issued in 2010, shares 10,132
Vested, shares (10,377)
Forfeited, shares (158)
Issued and outstanding restricted stock, shares 47,306 43,503
Issued and outstanding at January 1, weighted-average grant-date fair value per share  $ 67.52
Awards granted in calendar year, issued in following year, weighted-average grant-date fair value per share  $ 66.07  $ 75.4  $ 78.24
Vested, weighted-average grant-date fair value per share  $ 61.72
Forfeited, weighted-average grant-date fair value per share  $ 67.91
Issued and outstanding at December 31, weighted-average grant-date fair value per share  $ 69.74  $ 67.52
Acquisition of XTO Energy Inc [Member]
Merger-related granted and converted XTO awards, shares 4,206
Merger-related granted and converted XTO awards, weighted-average grant date fair value per share  $ 59.31
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet77.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Incentive Program (Summary of Grant Value of Restricted Stock and Units) (Details) (Restricted Stock [Member], USD  $)
In Millions, except Per Share data
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Grant price  $ 66.07  $ 75.4  $ 78.24
Restricted stock and units settled in stock  $ 672  $ 711  $ 735
Units settled in cash 60 53 56
Total value 982 764 791
Acquisition of XTO Energy Inc [Member]
Merger-related granted and converted XTO awards  $ 250    
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet78.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Incentive Program (Converted Performance Stock Awards) (Details) (USD  $)
In Thousands, except Per Share data
12 Months Ended
Dec. 31, 2010
Vesting of Converted Performance Stock 2 [Member]
Converted performance stock awards, vesting price  $ 108.49
Converted performance stock awards, shares 38
Vesting of Converted Performance Stock 3 [Member]
Converted performance stock awards, vesting price  $ 119.76
Converted performance stock awards, shares 38
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet79.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Incentive Program (Changes that Occurred in Stock Options) (Details) (USD  $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Outstanding at December 31, weighted average remaining contractual term, in years 2
Exercisable at December 31, weighted average remaining contractual term 1.9
Stock Option [Member]
Outstanding at January 1, shares 41,473
Outstanding at January 1, avg. exercise price  $ 40.92
Exercised, shares (24,305)
Exercised, avg. exercise price  $ 43.62
Forfeited, shares (52)
Forfeited, avg. exercise price  $ 45.91
Outstanding at December 31, shares 29,509
Outstanding at December 31, avg. exercise price  $ 44.65
Exercisable at December 31, shares 28,935
Exercisable at December 31, avg. exercise price  $ 43.94
Acquisition of XTO Energy Inc [Member]
Merger-related converted XTO awards, number of shares 12,393
Merger-related converted XTO awards, avg. exercise price  $ 55.15
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet80.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Incentive Program (XTO Merger-Related Fair Value Determination) (Details)
12 Months Ended
Dec. 31, 2010
Weighted average expected term, years 2.5
Range of risk-free interest rates minimum 0.10%
Range of risk-free interest rates maximum 2.60%
Weighted average risk-free interest rates 0.90%
Dividend yield 3.00%
Weighted average volatility 28.50%
Range of volatility minimum 22.50%
Range of volatility maximum 33.60%
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet81.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Litigation and Other Contingencies (Narrative) (Details) (USD  $)
In Millions, unless otherwise specified
Dec. 31, 2010
May 01, 2007
Dec. 31, 2010
Equity Company Obligations [Member]
Dec. 31, 2010
Guarantees, Notes, Loans And Performance [Member]
Jun. 27, 2007
Expropriation of Assets [Member]
Total guarantees  $ 8,771  $ 5,290  $ 8,771
Percentage ownership interest in Cerro Negro Project 41.67% 41.67%
Net book investment in Cerro Negro Project  $ 750
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet82.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Litigation and Other Contingencies (Schedule of Guarantees) (Details) (USD  $)
In Millions
Dec. 31, 2010
Total guarantees  $ 8,771
Equity Company Obligations [Member]
Total guarantees 5,290
Other Third Party Obligations [Member]
Total guarantees  $ 3,481
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet83.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Litigation and Other Contingencies (Schedule of Unconditional Purchase Obligations) (Details) (USD  $)
In Millions
Dec. 31, 2010
2011  $ 287 [1]
2012-2015 748 [1]
2016 and beyond 487 [1]
Total 1,522 [1]
Unconditional purchase obligation 1,522 [1]
Imputed interest 273
Equity Company Obligations [Member]
Total 996
Unconditional purchase obligation 996
Total Obligations [Member]
Present value of these commitments  $ 1,249
[1] Undiscounted obligations of  $1,522 million mainly pertain to pipeline throughput agreements and include  $996 million of obligations to equity companies. The present value of these commitments, which excludes imputed interest of  $273 million, totaled  $1,249 million.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet84.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Narrative) (Details) (USD  $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Health care cost trend rate 6.00%
Health care cost trend rate projected in 2015 4.50%
Year that rate reaches ultimate trend rate 2015
Effect of one percentage point increase on service and interest costs  $ 57
Effect of one percentage point increase on postretirement benefit obligation 599
Effect of one percentage point decrease on service and interest costs 45
Effect of one percentage point decrease on postretirement benefit obligation 494
Costs for defined contribution plans  $ 347  $ 339  $ 309
Pension Benefits - U.S. [Member]
Target asset allocation, equity securities 60.00%
Target asset allocation, debt securities 40.00%
Target asset allocation, venture capital 5.00%
Pension Benefits - Non-U.S. [Member]
Target asset allocation, equity securities 56.00%
Target asset allocation, debt securities 41.00%
Target asset allocation, real estate funds 3.00%
Target asset allocation, venture capital 3.00%
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet85.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Benefit Obligations and Plan Assets Associated with Principal Benefit Plans) (Details) (USD  $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2010
Pension Benefits - U.S. [Member]
Benefit Payments for Funded and Unfunded Plans [Member]
Dec. 31, 2009
Pension Benefits - U.S. [Member]
Benefit Payments for Funded and Unfunded Plans [Member]
Dec. 31, 2010
Pension Benefits - Non-U.S. [Member]
Benefit Payments for Funded and Unfunded Plans [Member]
Dec. 31, 2009
Pension Benefits - Non-U.S. [Member]
Benefit Payments for Funded and Unfunded Plans [Member]
Dec. 31, 2010
Other Postretirement Benefits [Member]
Benefit Payments for Funded and Unfunded Plans [Member]
Dec. 31, 2009
Other Postretirement Benefits [Member]
Benefit Payments for Funded and Unfunded Plans [Member]
Dec. 31, 2010
Pension Benefits - U.S. [Member]
Dec. 31, 2009
Pension Benefits - U.S. [Member]
Dec. 31, 2008
Pension Benefits - U.S. [Member]
Dec. 31, 2010
Pension Benefits - Non-U.S. [Member]
Dec. 31, 2009
Pension Benefits - Non-U.S. [Member]
Dec. 31, 2008
Pension Benefits - Non-U.S. [Member]
Dec. 31, 2010
Other Postretirement Benefits [Member]
Dec. 31, 2009
Other Postretirement Benefits [Member]
Dec. 31, 2008
Other Postretirement Benefits [Member]
Discount rate 5.50% 6.00% 4.80% 5.20% 5.50% 6.00%
Long-term rate of compensation increase 5.00% 5.00% 5.20% 5.00% 5.00% 5.00%
Benefit obligation at January 1  $ 13,981  $ 13,272  $ 23,344  $ 19,990  $ 6,748  $ 6,633
Service cost 468 438 378 480 421 434 101 94 100
Interest cost 798 809 729 1,175 1,121 1,152 395 408 414
Actuarial loss/(gain) 553 1,126 1,672 1,280 277 (49)
Benefits paid (873) [1],[2] (1,665) [1],[2] (1,281) [1],[2] (1,174) [1],[2] (394) [1],[2] (480) [1],[2]
Foreign exchange rate changes 169 1,676 26 60
Plan amendments, other 80 1 163 30 178 82
Benefit obligation at December 31 15,007 13,981 13,272 25,722 23,344 19,990 7,331 6,748 6,633
Accumulated benefit obligation at December 31 12,764 11,615 22,958 20,909
Medicare subsidy receipts  $ 15  $ 28
[1] Benefit payments for funded plans.
[2] For 2010 and 2009, other postretirement benefits paid are net of  $15 million and  $28 million of Medicare subsidy receipts, respectively.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet86.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Change in Plan Assets of Pension and Other Postretirement Benefits) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Pension Benefits - U.S. [Member] | Benefit Payments for Funded Plans [Member]
Defined Benefit Plan, Benefits Paid  $ (677) [1]  $ (1,440) [1]
Pension Benefits - Non-U.S. [Member] | Benefit Payments for Funded Plans [Member]
Defined Benefit Plan, Benefits Paid (873) [1] (795) [1]
Other Postretirement Benefits [Member] | Benefit Payments for Funded Plans [Member]
Defined Benefit Plan, Benefits Paid (59) [1] (57) [1]
Pension Benefits - U.S. [Member]
Fair value at January 1 10,277 6,634
Actual return on plan assets 1,235 2,013
Foreign exchange rate changes    
Company contribution 3,070
Other    
Fair value at December 31 10,835 10,277
Pension Benefits - Non-U.S. [Member]
Fair value at January 1 15,401 11,260
Actual return on plan assets 1,482 2,201
Foreign exchange rate changes 99 1,300
Company contribution 1,184 1,456
Other (528) (21)
Fair value at December 31 16,765 15,401
Other Postretirement Benefits [Member]
Fair value at January 1 514 443
Actual return on plan assets 63 93
Foreign exchange rate changes    
Company contribution 38 36
Other 2 (1)
Fair value at December 31  $ 558  $ 514
[1] Benefit payments for funded plans.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet87.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Summary of Assets in Excess of/(Less Than) Benefit Obligation) (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Pension Benefits - U.S. [Member]
Defined Benefit Plan Funded Status of Plan  $ (4,172) [1]  $ (3,704) [1]
Total (4,172) (3,704)
Pension Benefits - U.S. [Member] | Funded Plans [Member]
Defined Benefit Plan Funded Status of Plan (2,349) (1,940)
Pension Benefits - U.S. [Member] | Unfunded Plans [Member]
Unfunded plans (1,823) (1,764)
Pension Benefits - Non-U.S. [Member]
Defined Benefit Plan Funded Status of Plan (8,957) [1] (7,943) [1]
Total (8,957) (7,943)
Pension Benefits - Non-U.S. [Member] | Funded Plans [Member]
Defined Benefit Plan Funded Status of Plan (2,769) (2,085)
Pension Benefits - Non-U.S. [Member] | Unfunded Plans [Member]
Unfunded plans  $ (6,188)  $ (5,858)
[1] Fair value of assets less benefit obligation shown on the preceding page.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet88.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Assets Recorded in Balance Sheet and Other Comprehensive Income) (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Postretirement benefits reserves  $ (19,367)  $ (17,942)
Pension Benefits - U.S. [Member]
Balance at December 31 (4,172) [1] (3,704) [1]
Other assets 1 1
Current liabilities (257) (235)
Postretirement benefits reserves (3,916) (3,470)
Total recorded (4,172) (3,704)
Net actuarial loss/(gain) 5,028 5,830
Prior service cost/(credit) 83 5
Total recorded in accumulated other comprehensive income 5,111 5,835
Pension Benefits - Non-U.S. [Member]
Balance at December 31 (8,957) [1] (7,943) [1]
Other assets 400 961
Current liabilities (336) (348)
Postretirement benefits reserves (9,021) (8,556)
Total recorded (8,957) (7,943)
Net actuarial loss/(gain) 7,795 7,036
Prior service cost/(credit) 674 622
Total recorded in accumulated other comprehensive income 8,469 7,658
Other Postretirement Benefits [Member]
Balance at December 31 (6,773) [1] (6,234) [1]
Current liabilities (343) (318)
Postretirement benefits reserves (6,430) (5,916)
Total recorded (6,773) (6,234)
Net actuarial loss/(gain) 1,985 1,878
Prior service cost/(credit) 154 181
Total recorded in accumulated other comprehensive income  $ 2,139  $ 2,059
[1] Fair value of assets less benefit obligation shown on the preceding page.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet89.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Long-Term Rates of Pension and Other Postretirement Benefits) (Details) (USD  $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Pension Benefits - U.S. [Member]
Discount rate 6.00% 6.25% 6.25%
Long-term rate of return on funded assets 7.50% 8.00% 9.00%
Long-term rate of compensation increase 5.00% 5.00% 5.00%
Service cost  $ 468  $ 438  $ 378
Interest cost 798 809 729
Expected return on plan assets (726) (656) (915)
Amortization of actuarial loss/(gain) 525 694 239
Amortization of prior service cost 2 (2)
Net pension enhancement and curtailment/settlement expense 321 485 174
Net periodic benefit cost 1,388 1,770 603
Net actuarial loss/(gain) 44 (231) 5,275
Amortization of actuarial (loss)/gain (846) (1,179) (413)
Prior service cost/(credit) 80
Amortization of prior service (cost) (2) 2
Total recorded in other comprehensive income (724) (1,410) 4,864
Total recorded in net periodic benefit cost and other comprehensive income, before tax 664 360 5,467
Pension Benefits - Non-U.S. [Member]
Discount rate 5.20% 5.50% 5.40%
Long-term rate of return on funded assets 6.70% 7.30% 7.50%
Long-term rate of compensation increase 5.00% 4.70% 4.50%
Service cost 480 421 434
Interest cost 1,175 1,121 1,152
Expected return on plan assets (1,010) (886) (1,200)
Amortization of actuarial loss/(gain) 554 648 318
Amortization of prior service cost 84 79 93
Net pension enhancement and curtailment/settlement expense 9 2 32
Net periodic benefit cost 1,292 1,385 829
Net actuarial loss/(gain) 1,202 (33) 4,837
Amortization of actuarial (loss)/gain (563) (650) (350)
Prior service cost/(credit) 160 69 16
Amortization of prior service (cost) (84) (79) (93)
Foreign exchange rate changes 96 608 (997)
Total recorded in other comprehensive income 811 (85) 3,413
Total recorded in net periodic benefit cost and other comprehensive income, before tax 2,103 1,300 4,242
Other Postretirement Benefits [Member]
Discount rate 6.00% 6.25% 6.25%
Long-term rate of return on funded assets 7.50% 8.00% 9.00%
Long-term rate of compensation increase 5.00% 5.00% 5.00%
Service cost 101 94 100
Interest cost 395 408 414
Expected return on plan assets (37) (35) (59)
Amortization of actuarial loss/(gain) 147 176 197
Amortization of prior service cost 52 69 76
Net periodic benefit cost 658 712 728
Net actuarial loss/(gain) 251 (107) 13
Amortization of actuarial (loss)/gain (147) (176) (197)
Prior service cost/(credit) 26
Amortization of prior service (cost) (52) (69) (76)
Foreign exchange rate changes 2 2 (3)
Total recorded in other comprehensive income 80 (350) (263)
Total recorded in net periodic benefit cost and other comprehensive income, before tax  $ 738  $ 362  $ 465
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet90.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Summary of the Change in Accumulated Other Comprehensive Income) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Total (charge)/credit to other comprehensive income, before tax  $ (167)  $ 1,845  $ (8,014)
(Charge)/credit to income tax 35 (591) 2,723
(Charge)/credit to investment in equity companies 11 (133) (27)
(Charge)/credit to other comprehensive income including noncontrolling interests, after tax (121) 1,121 (5,318)
Charge/(credit) to equity of noncontrolling interests 95 93 224
(Charge)/credit to other comprehensive income attributable to ExxonMobil (26) 1,214 (5,094)
Pension Benefits - U.S. [Member]
Total (charge)/credit to other comprehensive income, before tax 724 1,410 (4,864)
Pension Benefits - Non-U.S. [Member]
Total (charge)/credit to other comprehensive income, before tax (811) 85 (3,413)
Other Postretirement Benefits [Member]
Total (charge)/credit to other comprehensive income, before tax  $ (80)  $ 350  $ 263
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet91.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Fair Value of Benefit Plan Assets- U.S. Pension) (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Pension Benefits - U.S. [Member]
Fair value of plan assets  $ 10,835  $ 10,277  $ 6,634
Insurance contracts at contract value 23 24
Pension Benefits - U.S. [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Cash [Member]
Fair value of plan assets 68 140
Pension Benefits - U.S. [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Total at Fair Value [Member]
Fair value of plan assets 68 140
Pension Benefits - U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Equity Securities [Member]
Fair value of plan assets 2,648 [1] 2,503 [1]
Pension Benefits - U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | Non-U.S. Equity Securities [Member]
Fair value of plan assets 3,530 [1] 3,341 [1]
Pension Benefits - U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member]
Fair value of plan assets 1,152 [2] 1,040 [2]
Pension Benefits - U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | Government Debt Securities [Member]
Fair value of plan assets 2,847 [2] 2,570 [2]
Pension Benefits - U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | Asset-backed Debt Securities [Member]
Fair value of plan assets 31 [2] 30 [2]
Pension Benefits - U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | Total at Fair Value [Member]
Fair value of plan assets 10,208 9,484
Pension Benefits - U.S. [Member] | Significant Unobservable Inputs (Level 3) [Member] | Private Equity [Member]
Fair value of plan assets 408 [3] 349 [3]
Pension Benefits - U.S. [Member] | Significant Unobservable Inputs (Level 3) [Member] | Private Mortgage Debt Securities [Member]
Fair value of plan assets 128 [4] 280 [4]
Pension Benefits - U.S. [Member] | Significant Unobservable Inputs (Level 3) [Member] | Total at Fair Value [Member]
Fair value of plan assets 536 629
Pension Benefits - U.S. [Member] | U.S. Equity Securities [Member]
Fair value of plan assets 2,648 2,503
Pension Benefits - U.S. [Member] | Non-U.S. Equity Securities [Member]
Fair value of plan assets 3,530 3,341
Pension Benefits - U.S. [Member] | Private Equity [Member]
Fair value of plan assets 408 349
Pension Benefits - U.S. [Member] | Corporate Debt Securities [Member]
Fair value of plan assets 1,152 1,040
Pension Benefits - U.S. [Member] | Government Debt Securities [Member]
Fair value of plan assets 2,847 2,570
Pension Benefits - U.S. [Member] | Asset-backed Debt Securities [Member]
Fair value of plan assets 31 30
Pension Benefits - U.S. [Member] | Private Mortgage Debt Securities [Member]
Fair value of plan assets 128 280
Pension Benefits - U.S. [Member] | Cash [Member]
Fair value of plan assets 68 140
Pension Benefits - U.S. [Member] | Total at Fair Value [Member]
Fair value of plan assets 10,812 10,253
Pension Benefits - U.S. [Member] | Total Plan Assets [Member]
Fair value of plan assets 10,835 10,277
Pension Benefits - Non-U.S. [Member]
Fair value of plan assets 16,765 15,401 11,260
Insurance contracts at contract value 158 148
Pension Benefits - Non-U.S. [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Non-U.S. Equity Securities [Member]
Fair value of plan assets 228 [5] 227 [5]
Pension Benefits - Non-U.S. [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Corporate Debt Securities [Member]
Fair value of plan assets 2 [6] 2 [6]
Pension Benefits - Non-U.S. [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Government Debt Securities [Member]
Fair value of plan assets 146 [6] 70 [6]
Pension Benefits - Non-U.S. [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Cash [Member]
Fair value of plan assets 63 79
Pension Benefits - Non-U.S. [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Total at Fair Value [Member]
Fair value of plan assets 439 378
Pension Benefits - Non-U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Equity Securities [Member]
Fair value of plan assets 2,443 [1] 2,244 [1]
Pension Benefits - Non-U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | Non-U.S. Equity Securities [Member]
Fair value of plan assets 6,502 [1] 5,946 [1]
Pension Benefits - Non-U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member]
Fair value of plan assets 1,629 [2] 1,637 [2]
Pension Benefits - Non-U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | Government Debt Securities [Member]
Fair value of plan assets 4,709 [2] 4,217 [2]
Pension Benefits - Non-U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | Asset-backed Debt Securities [Member]
Fair value of plan assets 98 [2] 119 [2]
Pension Benefits - Non-U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | Cash [Member]
Fair value of plan assets 51 [7] 55 [7]
Pension Benefits - Non-U.S. [Member] | Significant Other Observable Inputs (Level 2) [Member] | Total at Fair Value [Member]
Fair value of plan assets 15,432 14,218
Pension Benefits - Non-U.S. [Member] | Significant Unobservable Inputs (Level 3) [Member] | Private Equity [Member]
Fair value of plan assets 315 [3] 239 [3]
Pension Benefits - Non-U.S. [Member] | Significant Unobservable Inputs (Level 3) [Member] | Private Mortgage Debt Securities [Member]
Fair value of plan assets 4 [4] 5 [4]
Pension Benefits - Non-U.S. [Member] | Significant Unobservable Inputs (Level 3) [Member] | Real Estate Funds [Member]
Fair value of plan assets 417 [8] 413 [8]
Pension Benefits - Non-U.S. [Member] | Significant Unobservable Inputs (Level 3) [Member] | Total at Fair Value [Member]
Fair value of plan assets 736 657
Pension Benefits - Non-U.S. [Member] | U.S. Equity Securities [Member]
Fair value of plan assets 2,443 2,244
Pension Benefits - Non-U.S. [Member] | Non-U.S. Equity Securities [Member]
Fair value of plan assets 6,730 6,173
Pension Benefits - Non-U.S. [Member] | Private Equity [Member]
Fair value of plan assets 315 239
Pension Benefits - Non-U.S. [Member] | Corporate Debt Securities [Member]
Fair value of plan assets 1,631 1,639
Pension Benefits - Non-U.S. [Member] | Government Debt Securities [Member]
Fair value of plan assets 4,855 4,287
Pension Benefits - Non-U.S. [Member] | Asset-backed Debt Securities [Member]
Fair value of plan assets 98 119
Pension Benefits - Non-U.S. [Member] | Private Mortgage Debt Securities [Member]
Fair value of plan assets 4 5
Pension Benefits - Non-U.S. [Member] | Real Estate Funds [Member]
Fair value of plan assets 417 413
Pension Benefits - Non-U.S. [Member] | Cash [Member]
Fair value of plan assets 114 134
Pension Benefits - Non-U.S. [Member] | Total at Fair Value [Member]
Fair value of plan assets 16,607 15,253
Pension Benefits - Non-U.S. [Member] | Total Plan Assets [Member]
Fair value of plan assets  $ 16,765  $ 15,401
[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 corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions.
[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 private mortgages, fair value is based on proprietary credit spread matrices developed using market data and monthly surveys of active mortgage bankers.
[5] For non-U.S. equity securities held in separate accounts, fair value is based on observable quoted prices on active exchanges.
[6] For corporate and government debt securities that are traded on active exchanges, fair value is based on observable quoted prices.
[7] For cash balances that are subject to withdrawal penalties or other adjustments, the fair value is treated as a Level 2 input.
[8] For real estate funds, fair value is based on appraised values developed using comparable market transactions.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet92.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Fair Value of Benefit Plan Assets- Other Postretirement) (Details) (Other Postretirement Benefits [Member], USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Fair value of plan assets  $ 558  $ 514  $ 443
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair value of plan assets 1 3
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Cash [Member]
Fair value of plan assets 1 3
Significant Other Observable Inputs (Level 2) [Member]
Fair value of plan assets 550 504
Significant Other Observable Inputs (Level 2) [Member] | U.S. Equity Securities [Member]
Fair value of plan assets 180 [1] 166 [1]
Significant Other Observable Inputs (Level 2) [Member] | Non-U.S. Equity Securities [Member]
Fair value of plan assets 191 [1] 181 [1]
Significant Other Observable Inputs (Level 2) [Member] | Corporate Debt Securities [Member]
Fair value of plan assets 49 [2] 51 [2]
Significant Other Observable Inputs (Level 2) [Member] | Government Debt Securities [Member]
Fair value of plan assets 117 [2] 95 [2]
Significant Other Observable Inputs (Level 2) [Member] | Asset-backed Debt Securities [Member]
Fair value of plan assets 13 [2] 11 [2]
Significant Unobservable Inputs (Level 3) [Member]
Fair value of plan assets 7 7
Significant Unobservable Inputs (Level 3) [Member] | Private Equity [Member]
Fair value of plan assets 5 [3] 4 [3]
Significant Unobservable Inputs (Level 3) [Member] | Private Mortgage Debt Securities [Member]
Fair value of plan assets 2 [4] 3 [4]
U.S. Equity Securities [Member]
Fair value of plan assets 180 166
Non-U.S. Equity Securities [Member]
Fair value of plan assets 191 181
Private Equity [Member]
Fair value of plan assets 5 4
Corporate Debt Securities [Member]
Fair value of plan assets 49 51
Government Debt Securities [Member]
Fair value of plan assets 117 95
Asset-backed Debt Securities [Member]
Fair value of plan assets 13 11
Private Mortgage Debt Securities [Member]
Fair value of plan assets 2 3
Cash [Member]
Fair value of plan assets  $ 1  $ 3
[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 corporate, government and asset-backed debt securities, fair value is based on observable inputs of comparable market transactions.
[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 private mortgages, fair value is based on proprietary credit spread matrices developed using market data and monthly surveys of active mortgage bankers.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet93.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Change in the Fair Value of Level 3 Assets) (Details) (USD  $)
In Millions
12 Months Ended 12 Months Ended
Dec. 31, 2010
Pension Benefits - U.S. [Member]
Private Mortgages [Member]
Dec. 31, 2009
Pension Benefits - U.S. [Member]
Private Mortgages [Member]
Dec. 31, 2010
Pension Benefits - U.S. [Member]
Private Equity [Member]
Dec. 31, 2009
Pension Benefits - U.S. [Member]
Private Equity [Member]
Dec. 31, 2010
Pension Benefits - Non-U.S. [Member]
Private Equity [Member]
Dec. 31, 2009
Pension Benefits - Non-U.S. [Member]
Private Equity [Member]
Dec. 31, 2010
Pension Benefits - Non-U.S. [Member]
Private Mortgages [Member]
Dec. 31, 2008
Pension Benefits - Non-U.S. [Member]
Private Mortgages [Member]
Dec. 31, 2010
Pension Benefits - Non-U.S. [Member]
Real Estate Funds [Member]
Dec. 31, 2009
Pension Benefits - Non-U.S. [Member]
Real Estate Funds [Member]
Dec. 31, 2010
Other Postretirement Benefits [Member]
Private Mortgages [Member]
Dec. 31, 2009
Other Postretirement Benefits [Member]
Private Mortgages [Member]
Dec. 31, 2010
Other Postretirement Benefits [Member]
Private Equity [Member]
Dec. 31, 2008
Other Postretirement Benefits [Member]
Private Equity [Member]
Fair value at January 1  $ 280  $ 476  $ 349  $ 346  $ 239  $ 238  $ 5  $ 5  $ 413  $ 409  $ 3  $ 6  $ 4  $ 4
Net realized gains/(losses) 36 11 4 (1) (10) (1) (7) 1
Net unrealized gains/(losses) (3) 7 47 (35) 26 (35) 1 (4) (11) 1
Net purchases/(sales) (185) (214) 12 34 51 46 (1) 8 22 (2) (3)
Fair value at December 31  $ 128  $ 280  $ 408  $ 349  $ 315  $ 239  $ 4  $ 5  $ 417  $ 413  $ 2  $ 3  $ 5  $ 4
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet94.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets) (Details) (USD  $)
In Millions
12 Months Ended 12 Months Ended
Dec. 31, 2010
Dec. 31, 2010
Pension Benefits - U.S. [Member]
Funded Pension Plans [Member]
Dec. 31, 2009
Pension Benefits - U.S. [Member]
Funded Pension Plans [Member]
Dec. 31, 2010
Pension Benefits - Non-U.S. [Member]
Funded Pension Plans [Member]
Dec. 31, 2009
Pension Benefits - Non-U.S. [Member]
Funded Pension Plans [Member]
Dec. 31, 2010
Pension Benefits - U.S. [Member]
Unfunded Pension Plans [Member]
Dec. 31, 2009
Pension Benefits - U.S. [Member]
Unfunded Pension Plans [Member]
Dec. 31, 2010
Pension Benefits - Non-U.S. [Member]
Unfunded Pension Plans [Member]
Dec. 31, 2009
Pension Benefits - Non-U.S. [Member]
Unfunded Pension Plans [Member]
Dec. 31, 2010
Pension Benefits - U.S. [Member]
Dec. 31, 2010
Pension Benefits - Non-U.S. [Member]
Dec. 31, 2010
Other Postretirement Benefits [Member]
Projected benefit obligation  $ 13,184  $ 12,217  $ 9,865  $ 13,152  $ 1,823  $ 1,764  $ 6,188  $ 5,858
Accumulated benefit obligation 11,383 10,312 9,074 12,260 1,381 1,303 5,413 5,180
Fair value of plan assets 10,834 10,276 7,131 10,447
Net actuarial loss/(gain) 159 [1] 835 [1] 615 [1] 159 [1]
Prior service cost  $ 35 [2]  $ 9 [2]  $ 97 [2]  $ 35 [2]
[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.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet95.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Pension and Other Postretirement Benefits (Expected Contribution Pension Benefits and Other Postretirement Benefits) (USD  $)
In Millions
Dec. 31, 2010
Pension Benefits - U.S. [Member]
Contributions expected in 2011  $ 270
Benefits payments expected in 2011 1,454
Benefits payments expected in 2012 1,483
Benefits payments expected in 2013 1,512
Benefits payments expected in 2014 1,451
Benefits payments expected in 2015 1,392
Benefits payments expected in 2016-2020 6,079
Pension Benefits - Non-U.S. [Member]
Contributions expected in 2011 1,130
Benefits payments expected in 2011 1,299
Benefits payments expected in 2012 1,281
Benefits payments expected in 2013 1,316
Benefits payments expected in 2014 1,362
Benefits payments expected in 2015 1,393
Benefits payments expected in 2016-2020 8,325
Gross Other Postretirement Benefits [Member]
Benefits payments expected in 2011 440
Benefits payments expected in 2012 456
Benefits payments expected in 2013 474
Benefits payments expected in 2014 489
Benefits payments expected in 2015 502
Benefits payments expected in 2016-2020 2,662
Other Postretirement Benefits Medicare Subsidy Receipts [Member]
Benefits payments expected in 2011 23
Benefits payments expected in 2012 25
Benefits payments expected in 2013 26
Benefits payments expected in 2014 28
Benefits payments expected in 2015 29
Benefits payments expected in 2016-2020  $ 163
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet96.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Disclosures about Segments and Related Information (Narrative) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Interest related to Valdez punitive damages award  $ 140
Non-debt related interest expense 41 500 498
Upstream Non-U.S. [Member]
Gain on sale of natural gas transportation business in Germany 1,620
Corporate and Financing [Member]
Charges related to Valdez litigation  $ 460
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet97.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Disclosures about Segments and Related Information (Schedule of Segments and Related Information) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Sales-based taxes  $ 28,547  $ 25,936  $ 34,508
Upstream U.S. [Member]
Earnings after income tax 4,272 2,893 6,243
Earnings of equity companies included above 1,261 1,216 1,954
Sales and other operating revenue 8,895 [1] 3,406 [1] 6,767 [1]
Intersegment revenue 8,102 6,718 9,617
Depreciation and depletion expense 3,506 1,768 1,391
Interest expense 20 38 47
Income taxes 2,219 1,451 3,451
Additions to property, plant and equipment 52,300 2,973 2,699
Investments in equity companies 2,636 2,440 2,248
Total assets 76,725 24,940 23,056
Upstream Non-U.S. [Member]
Earnings after income tax 19,825 14,214 29,159
Earnings of equity companies included above 8,415 5,269 7,597
Sales and other operating revenue 26,046 [1] 21,355 [1] 32,346 [1]
Intersegment revenue 39,066 32,982 55,069
Depreciation and depletion expense 7,574 6,376 7,266
Interest expense 25 27 63
Income taxes 18,627 15,183 30,654
Additions to property, plant and equipment 16,937 13,307 10,545
Investments in equity companies 9,625 8,864 7,787
Total assets 115,646 102,372 83,750
Downstream U.S. [Member]
Earnings after income tax 770 (153) 1,649
Earnings of equity companies included above 23 (102) (2)
Sales and other operating revenue 93,599 [1] 76,467 [1] 116,701 [1]
Intersegment revenue 13,546 10,168 16,225
Depreciation and depletion expense 681 687 656
Interest expense 1 10 9
Income taxes 360 (164) 728
Additions to property, plant and equipment 888 1,449 1,550
Investments in equity companies 254 323 456
Total assets 18,378 17,493 16,328
Downstream Non-U.S. [Member]
Earnings after income tax 2,797 1,934 6,502
Earnings of equity companies included above 225 188 518
Sales and other operating revenue 206,042 [1] 173,404 [1] 265,359 [1]
Intersegment revenue 52,697 39,190 65,723
Depreciation and depletion expense 1,565 1,665 1,672
Interest expense 19 18 28
Income taxes 560 (22) 1,990
Additions to property, plant and equipment 1,332 1,447 1,552
Investments in equity companies 1,240 1,190 1,382
Total assets 47,402 45,098 42,044
Chemical U.S. [Member]
Earnings after income tax 2,422 769 724
Earnings of equity companies included above 171 164 105
Sales and other operating revenue 13,402 [1] 9,962 [1] 14,136 [1]
Intersegment revenue 9,694 7,185 9,925
Depreciation and depletion expense 421 400 410
Interest expense 1 4 3
Income taxes 736 281 177
Additions to property, plant and equipment 247 294 413
Investments in equity companies 285 259 241
Total assets 7,148 7,044 6,856
Chemical Non-U.S. [Member]
Earnings after income tax 2,491 1,540 2,233
Earnings of equity companies included above 1,163 906 1,411
Sales and other operating revenue 22,119 [1] 16,885 [1] 24,252 [1]
Intersegment revenue 8,421 6,947 9,749
Depreciation and depletion expense 432 457 422
Interest expense 4 1 4
Income taxes 347 (182) 10
Additions to property, plant and equipment 1,733 2,553 1,987
Investments in equity companies 3,586 2,873 2,384
Total assets 19,087 17,117 13,300
Corporate and Financing [Member]
Earnings after income tax (2,117) (1,917) (1,290)
Earnings of equity companies included above (581) (498) (502)
Sales and other operating revenue 22 [1] 21 [1] 18 [1]
Intersegment revenue 282 284 273
Depreciation and depletion expense 581 564 562
Interest revenue 118 179 1,400
Interest expense 189 450 519
Income taxes (1,288) (1,428) (480)
Additions to property, plant and equipment 719 468 572
Investments in equity companies (197) (207) (40)
Total assets 18,124 19,259 42,718
Corporate Total [Member]
Earnings after income tax 30,460 19,280 45,220
Earnings of equity companies included above 10,677 7,143 11,081
Sales and other operating revenue 370,125 [1] 301,500 [1] 459,579 [1]
Depreciation and depletion expense 14,760 11,917 12,379
Interest revenue 118 179 1,400
Interest expense 259 548 673
Income taxes 21,561 15,119 36,530
Additions to property, plant and equipment 74,156 22,491 19,318
Investments in equity companies 17,429 15,742 14,458
Total assets  $ 302,510  $ 233,323  $ 228,052
[1] Sales and other operating revenue includes sales-based taxes of  $28,547 million for 2010,  $25,936 million for 2009 and  $34,508 million for 2008.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet98.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Disclosures about Segments and Related Information (Schedule of Geographic Sales and Other Operating Revenue) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Geographic sales and other operating revenue  $ 370,125 [1]  $ 301,500 [1]  $ 459,579 [1]
Sales-based taxes 28,547 25,936 34,508
U.S. [Member]
Geographic sales and other operating revenue 115,906 [1] 89,847 [1] 137,615 [1]
Non-U.S. [Member]
Geographic sales and other operating revenue 254,219 [1] 211,653 [1] 321,964 [1]
Canada [Member]
Geographic sales and other operating revenue 27,243 [1] 21,151 [1] 33,677 [1]
Japan [Member]
Geographic sales and other operating revenue 27,143 [1] 22,054 [1] 30,126 [1]
United Kingdom [Member]
Geographic sales and other operating revenue 24,637 [1] 20,293 [1] 29,764 [1]
Belgium [Member]
Geographic sales and other operating revenue 21,139 [1] 16,857 [1] 25,399 [1]
Germany [Member]
Geographic sales and other operating revenue 14,301 [1] 14,839 [1] 20,591 [1]
Italy [Member]
Geographic sales and other operating revenue 14,132 [1] 12,997 [1] 17,953 [1]
France [Member]
Geographic sales and other operating revenue 13,920 [1] 12,042 [1] 18,530 [1]
Singapore [Member]
Geographic sales and other operating revenue  $ 11,088 [1]  $ 8,400 [1]  $ 11,059 [1]
[1] Sales and other operating revenue includes sales-based taxes of  $28,547 million for 2010,  $25,936 million for 2009 and  $34,508 million for 2008.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet99.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Disclosures about Segments and Related Information (Schedule of Long-Lived Assets by Geographic Regions) (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Long-lived assets  $ 199,548  $ 139,116  $ 121,346
U.S. [Member]
Long-lived assets 86,021 37,138 35,548
Non-U.S. [Member]
Long-lived assets 113,527 101,978 85,798
Canada [Member]
Long-lived assets 20,879 15,919 12,018
Nigeria [Member]
Long-lived assets 11,429 11,046 9,227
Singapore [Member]
Long-lived assets 8,610 7,238 5,113
Angola [Member]
Long-lived assets 8,570 7,320 6,129
Norway [Member]
Long-lived assets 6,988 7,251 5,856
Australia [Member]
Long-lived assets 6,570 4,247 2,857
United Kingdom [Member]
Long-lived assets 6,177 7,609 5,778
Kazakhstan [Member]
Long-lived assets  $ 5,938  $ 4,748  $ 3,535
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet100.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Income, Sales-Based and Other Taxes (Narrative) (Details) (USD  $)
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Net credits for effect of changes in tax laws and rates  $ (175,000,000)  $ 9,000,000  $ 300,000,000
Reconciliation between income tax expense and theoretical U.S. tax rate, applied rate 35.00% 35.00% 35.00%
Indefinitely reinvested, undistributed earnings from subsidiary companies outside the U.S. 35,000,000,000
Potential percentage increase in unrecognized tax benefits 20.00%
Potential percentage decrease in unrecognized tax benefits 5.00%
Credit of net interest expense on income tax reserves 39,000,000
Interest expense on income tax reserves 135,000,000 137,000,000
Interest payable on income tax reserves  $ 636,000,000  $ 771,000,000
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet101.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Income, Sales-Based and Other Taxes (Schedule of Income, Sales-Based and Other Taxes) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Current  $ 22,317  $ 14,992  $ 34,382
Deferred - net (1,142) (15) 1,457
U.S. tax on non-U.S. operations 46 32 230
Total federal and non-U.S. 21,221 15,009 36,069
State 340 110 461
Total income taxes 21,561 15,119 36,530
Sales-based taxes 28,547 [1] 25,936 [1] 34,508 [1]
Other taxes and duties 36,118 34,819 41,719
Other taxes and duties included in production and manufacturing expenses 2,238 2,017 2,635
Other taxes and duties included in SG&A expenses 771 735 869
Total other taxes and duties 39,127 37,571 45,223
Total 89,235 78,626 116,261
U.S. [Member]
Current 1,224 (838) 3,005
Deferred - net 49 650 168
U.S. tax on non-U.S. operations 46 32 230
Total federal and non-U.S. 1,319 (156) 3,403
State 340 110 461
Total income taxes 1,659 (46) 3,864
Sales-based taxes 6,182 6,271 6,646
Other taxes and duties 776 581 1,663
Other taxes and duties included in production and manufacturing expenses 1,001 699 915
Other taxes and duties included in SG&A expenses 201 197 209
Total other taxes and duties 1,978 1,477 2,787
Total 9,819 7,702 13,297
Non-U.S. [Member]
Current 21,093 15,830 31,377
Deferred - net (1,191) (665) 1,289
Total federal and non-U.S. 19,902 15,165 32,666
Total income taxes 19,902 15,165 32,666
Sales-based taxes 22,365 19,665 27,862
Other taxes and duties 35,342 34,238 40,056
Other taxes and duties included in production and manufacturing expenses 1,237 1,318 1,720
Other taxes and duties included in SG&A expenses 570 538 660
Total other taxes and duties 37,149 36,094 42,436
Total  $ 79,416  $ 70,924  $ 102,964
[1] Sales and other operating revenue includes sales-based taxes of  $28,547 million for 2010,  $25,936 million for 2009 and  $34,508 million for 2008.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet102.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Income, Sales-Based and Other Taxes (Income Taxes Charged/Credited Directly to Equity) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Cumulative foreign exchange translation adjustment  $ (42)  $ (247)  $ 360
Net actuarial loss/(gain) 553 (94) 3,361
Amortization of actuarial loss/(gain) (609) (649) (317)
Prior service cost 92 20 4
Amortization of prior service cost (45) (43) (51)
Foreign exchange rate changes 44 175 (274)
Total postretirement benefits reserves adjustment 35 (591) 2,723
Other components of equity  $ 246  $ 140  $ 315
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet103.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Income, Sales-Based, and Other Taxes (Reconciliation Between Income Tax Expense and Theoretical U.S. Tax) (Details) (USD  $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Income, Sales Based And Other Taxes
United States income before income taxes  $ 7,711  $ 2,576  $ 10,152
Non-U.S. income before income taxes 45,248 32,201 73,245
Total income before taxes 52,959 34,777 83,397
Theoretical tax 18,536 12,172 29,189
Effect of equity method of accounting (3,737) (2,500) (3,878)
Non-U.S. taxes in excess of theoretical U.S. tax 7,293 5,948 10,188
U.S. tax on non-U.S. operations 46 32 230
State taxes, net of federal tax benefit 221 72 300
Other U.S. (798) (605) 501
Total income tax expense 21,561 15,119 36,530
ExxonMobil share of equity company income taxes 4,058 2,489 4,001
Total income taxes 25,619 17,608 40,531
Net income including noncontrolling interests 31,398 19,658 46,867
Total income before taxes  $ 57,017  $ 37,266  $ 87,398
Effective income tax rate 45.00% 47.00% 46.00%
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet104.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Income, Sales-Based and Other Taxes (Deferred Income Taxes Assets and Liabilities) (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Property, plant and equipment  $ 42,657  $ 29,931
Other liabilities 4,278 4,102
Total deferred tax liabilities 46,935 34,033
Pension and other postretirement benefits (5,634) (5,442)
Asset retirement obligations (4,461) (3,978)
Tax loss carryforwards (3,243) (3,693)
Other assets (6,070) (4,700)
Total deferred tax assets (19,408) (17,813)
Asset valuation allowances 1,183 1,495
Net deferred tax liabilities  $ 28,710  $ 17,715
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet105.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Income, Sales-Based and Other Taxes (Deferred Income Tax (Assets) and Liabilities by Balance Sheet Classification) (Details) (USD  $)
In Millions
Dec. 31, 2010
Dec. 31, 2009
Other current assets  $ (5,269)  $ (5,175)
Other assets, including intangibles, net (8,640) (7,307)
Accounts payable and accrued liabilities 50,034 41,275
Deferred income tax liabilities 35,150 23,148
Net deferred tax liabilities 28,710 17,715
Deferred Taxes [Member]
Other current assets (3,359) (3,322)
Other assets, including intangibles, net (3,527) (2,263)
Accounts payable and accrued liabilities 446 152
Deferred income tax liabilities 35,150 23,148
Net deferred tax liabilities  $ 28,710  $ 17,715
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet106.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Income, Sales-Based and Other Taxes (Unrecognized Tax Benefits) (Details) (USD  $)
In Millions
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Balance at January 1  $ 4,725  $ 4,976  $ 5,232
Additions based on current year's tax positions 830 547 656
Additions for prior years' tax positions 620 262 294
Reductions for prior years' tax positions (505) (594) (328)
Reductions due to lapse of the statute of limitations (534) (27)
Settlements with tax authorities (999) (592) (681)
Foreign exchange effects/other 11 126 (170)
Balance at December 31  $ 4,148  $ 4,725  $ 4,976
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet107.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Income, Sales-Based and Other Taxes (Remaining Tax Years Subject to Examination by Major Tax Jurisdiction) (Details)
12 Months Ended
Dec. 31, 2010
Abu Dhabi [Member]
Open Tax Years by Major Tax Jurisdiction 2000 - 2010
Angola [Member]
Open Tax Years by Major Tax Jurisdiction 2007 - 2010
Australia [Member]
Open Tax Years by Major Tax Jurisdiction 2000 - 2010
Canada [Member]
Open Tax Years by Major Tax Jurisdiction 1994 - 2010
Equatorial Guinea [Member]
Open Tax Years by Major Tax Jurisdiction 2005 - 2010
Germany [Member]
Open Tax Years by Major Tax Jurisdiction 1999 - 2010
Japan [Member]
Open Tax Years by Major Tax Jurisdiction 2003 - 2010
Malaysia [Member]
Open Tax Years by Major Tax Jurisdiction 2004 - 2010
Nigeria [Member]
Open Tax Years by Major Tax Jurisdiction 1998 - 2010
Norway [Member]
Open Tax Years by Major Tax Jurisdiction 2000 - 2010
United Kingdom [Member]
Open Tax Years by Major Tax Jurisdiction 2004 - 2010
United States [Member]
Open Tax Years by Major Tax Jurisdiction 1991 - 1996
Second open tax years by major tax jurisdiction 1998 - 2000
Third open tax years by major tax jurisdiction 2004 - 2010
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet108.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Acquisition of XTO Energy Inc. (Narrative) (Details) (USD  $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2010
Business acquisition, effective date of acquisition 2010/06/25
Exchange ratio, number of common ExxonMobil shares converted from each share of XTO common stock 0.7098
Transaction costs related to merger  $ 18
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet109.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Acquisition of XTO Energy Inc. (Components of Consideration Transferred in Merger of XTO Energy Inc.) (Details) (USD  $)
In Millions, except Per Share data
0 Months Ended
Jun. 25, 2010
Dec. 31, 2010
Consideration attributable to stock issued  $ 24,480 [1],[2]
Consideration attributable to converted stock options 179 [2]
Total consideration transferred 24,659 24,659
Common stock fair market value per share  $ 59.1
Stock issued during period, shares, treasury stock reissued 416
Stock issued during period, value, treasury stock reissued 21,139
Excess fair value over cost of treasury stock issued used in XTO acquisition  $ 3,520
[1] The fair value of the Corporation's common stock on the acquisition date was  $59.10 per share based on the closing value on the NYSE. The Corporation issued 416 million shares of stock previously held in treasury. The treasury stock issued, based on the average cost, was valued at  $21,139 million. The excess of the fair value of the consideration transferred over the cost of treasury stock issued was  $3,520 million and was included in common stock without par value.
[2] The portion of the fair value of XTO converted stock-based awards attributable to pre-merger employee service was part of consideration. The remaining fair value of the awards will be recognized in future periods over the requisite service period.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet110.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Acquisition of XTO Energy Inc. (Recording of Assets Acquired and Liabilities Assumed) (Details) (USD  $)
In Millions, unless otherwise specified
0 Months Ended 12 Months Ended
Jun. 25, 2010
Dec. 31, 2010
Cash and cash equivalents  $ 47
Notes and accounts receivable 925
Inventories 170
Other current assets 911 [1]
Investments, advances and long-term receivables 52
Property, plant and equipment 47,300 [2]
Identifiable intangible assets 493 [3]
Goodwill 39 [4]
Other assets 75 [1]
Total assets acquired 50,012
Notes and loans payable 1,026 [5]
Accounts payable and accrued liabilities 1,788 [1],[6]
Income taxes payable (199)
Long-term debt 10,574 [5]
Postretirement benefits reserves 65
Deferred income tax liabilities 11,204 [6]
Other long-term obligations 895
Total liabilities assumed 25,353
Net assets required  $ 24,659
Risk adjusted discount rate for PP&E fair value measurement 7.00%
Inflation rate for PP&E fair value measurement 2.00%
Years for intangible assets to amortize 20
[1] Derivatives were measured using Level 1 inputs for derivatives that are traded directly on the NYMEX and Level 2 inputs for derivatives that are determined by either market prices on an active market for similar assets or by prices quoted by a broker or other market-corroborated prices.
[2] Property, plant and equipment were measured primarily using an income approach. The fair value measurements of the oil and gas assets were based, in part, on significant inputs not observable in the market and thus represent a Level 3 measurement. The significant inputs included XTO resources, assumed future production profiles, commodity prices (mainly based on observable market inputs), risk adjusted discount rate of 7.0 percent, inflation of 2.0 percent and assumptions on the timing and amount of future development and operating costs. The property, plant and equipment additions were segmented to the Upstream business, with substantially all of the assets in the United States.
[3] Identifiable intangible assets and other assets were measured using a combination of an income approach and a market approach (Level 3). Identifiable intangible assets will be amortized over 20 years.
[4] Goodwill was the excess of the consideration transferred over the net assets recognized and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. Goodwill was recognized in the Upstream reporting unit. Goodwill is not amortized and is not deductible for tax purposes.
[5] Long-term debt was recognized mainly at market rates at closing (Level 1).
[6] Deferred income taxes reflect the temporary differences between the amount of assets and liabilities recognized for financial reporting purposes and such amounts recognized for tax purposes.
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet111.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Acquisition of XTO Energy Inc. (Revenues and Earnings for XTO Energy Inc.) (Details) (USD  $)
In Millions
12 Months Ended 6 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2008
Dec. 31, 2010
Acquisition Date Through Dec. 31, 2010 Acquisition XTO Energy [Member]
Revenues  $ 383,221  $ 310,586  $ 477,359  $ 4,448
Upstream earnings  $ 262
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/Sheet112.html Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii"
Acquisition of XTO Energy Inc. (Pro Forma Impact of Merger) (Details) (USD  $)
In Millions, except Per Share data
12 Months Ended
Dec. 31, 2010
Dec. 31, 2009
Acquisition of XTO Energy Inc.
Revenues  $ 373,273  $ 307,456
Net income attributable to ExxonMobil  $ 30,668  $ 19,672
Earnings per common share  $ 6.03  $ 3.75
Earnings per common share - assuming dilution  $ 6.01  $ 3.74
------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77 Content-Location: file:///C:/81987d5f_cb61_4a86_b081_378c99243f77/Worksheets/filelist.xml Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" ------=_NextPart_81987d5f_cb61_4a86_b081_378c99243f77--