For every dollar of net earnings in the U.S. between 2006 and 2015, ExxonMobil incurred more than $1.35 in taxes to federal, state and local governments. During the period 2006 – 2015, total U.S. tax expense exceeded US operating earnings by over $28 billion. For 2015, total U.S. taxes were $6.7 billion, exceeding U.S. operating earnings by $3.5 billion.
On a dollar-for-dollar basis, our industry's profits are generally in line with the average of all U.S. industry. From 2011-2015 the average profit margin of the U.S. oil and gas industry was 3.83 percent and the effective tax rate was 38.4 percent. The average profit margin for U.S. industrials during the same period was 7.28 percent and the effective tax rate was 28.1 percent.
Learn more from American Petroleum Institute on Earnings in Perspective