Report April 7, 2020
The “Annual Reports” portion of the web site is an interactive version of the Company’s 2019 Summary Annual Report. Some of the hyperlinks embedded in this section link to other parts of the Annual Reports, and some hyperlinks take the reader to other articles and information on the Company’s website.
Report April 7, 2020
Statements that reference future events or conditions in this report are forward-looking statements. Actual future results, including demand growth and energy source mix; capacity growth; the impact of new technologies; production growth; project plans, dates, costs, and capacities; resource additions, production rates, and resource recoveries; efficiency gains; cost savings; earnings growth; cash flow generation; integration and technology benefits; project returns; and product sales could differ materially due to a number of factors, including: global or regional changes in oil, natural gas, petrochemicals, or feedstock prices, differentials, or other market or economic conditions affecting the oil, gas, and petrochemical industries and the demand for our products; reservoir performance; the outcome and timing of exploration and development projects; timely completion of construction projects; war and other political, public health, or security disturbances; changes in law or government regulation, including environmental, trade, and tax regulations and political sanctions; the actions of competitors and customers; unexpected technological developments; general economic conditions, including the occurrence and duration of economic recessions; the outcome of commercial negotiations; opportunities for and regulatory approval of investments or divestments that may arise; the impact of fiscal and commercial terms; the outcome of future research efforts; unexpected technological developments and the ability to bring new technology to commercial scale on a cost-competitive basis, including large-scale hydraulic fracturing projects; unforeseen technical difficulties; unanticipated operational disruptions; and other factors discussed in this report and in Item 1A of ExxonMobil’s most recent Form 10-K. All forward-looking statements are based on management’s knowledge and reasonable expectations and we assume no duty to update these statements as of any future date.
Other legal information
We use non-GAAP concepts and financial measures throughout this publication. These measures may not be comparable to similarly titled measures used by other companies. Definitions of certain financial and operating measures and other terms used in this report – such as “resources” and “resource base” – are contained in the section titled “Frequently Used Terms”.
In the case of non-GAAP financial measures, such as “Return on Average Capital Employed” and “Cash Flow from Operations and Asset Sales,” the definitions also include any reconciliation or other information required by SEC Regulation G. “Factors Affecting Future Results” and “Frequently Used Terms” are also available on the “Investors” section of our website.
As used in this publication, the term “industry” refers to publicly traded international energy companies. The term “project” can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.
Unless otherwise specified, data shown are for 2019. Prior years’ data have been reclassified in certain cases to conform to the 2019 presentation basis.
Unless otherwise stated, production rates, project capacities, and acreage values are gross.
Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as Corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Abbreviated references describing global or regional operational organizations, and global or regional business lines are also sometimes used for convenience and simplicity. Similarly, ExxonMobil has business relationships with thousands of customers, suppliers, governments, and others. For convenience and simplicity, words such as venture, joint venture, partnership, co-venturer, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships.
Included in this Summary Annual Report are financial and operating highlights and summary financial statements. For complete financial statements, including notes, please refer to ExxonMobil’s 2019 Financial Statements and Supplemental Information booklet included in the Summary Annual Report mailing. The Financial Statements and Supplemental Information booklet also includes “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” The “Investors” section of ExxonMobil’s website (exxonmobil.com) contains the Proxy Statement and other company publications. These publications provide additional detail about the company’s global operations.
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