ExxonMobil Earns $20.8 Billion in 2018; $6 Billion in Fourth Quarter

IRVING, Texas — Exxon Mobil Corporation today announced estimated 2018 earnings of $20.8 billion, or $4.88 per share assuming dilution, compared with $19.7 billion a year earlier.

News Feb. 1, 2019

ExxonMobil Earns $20.8 Billion in 2018; $6 Billion in Fourth Quarter
  • Full-year cash flow from operating activities of $36 billion, highest since 2014
  • Tenth discovery offshore Guyana, increasing Stabroek resource estimate to more than 5 billion barrels
  • Fourth quarter 2018 liquids production up 4 percent from prior-year quarter driven by Permian growth
  Forth Quarter   Third Quarter   Twelve Months
 
 
2018
2017 % 2018
2018
2017 %
 
Earnings Summary

(Dollars in millions, except per share data)
         
Earnings (U.S. GAAP)
6,000
8,380 -28 6,240 -4
20,840
19,710 +6
     U.S. Tax Reform
20
5,942   271  
291
5,942  
     Asset Impairments
(429)
(1,294)   (18)  
(489)
(1,521)  
Earnings Excluding U.S. Tax Reform and Impairments
6,409
3,732 +72 5,987 +7
21,038
15,289 +38
 

Earnings Per Common Share Assuming Dilution

1.41
1.97 -28 1.46 -3
4.88
4.63 +5
Capital and Exploration Expenditures
7,843
8,999 -13 6,586 +19
25,923
23,080 +12

Exxon Mobil Corporation today announced estimated 2018 earnings of $20.8 billion, or $4.88 per share assuming dilution, compared with $19.7 billion a year earlier. Excluding U.S. tax reform and asset impairments, earnings were $21 billion, compared with $15.3 billion in 2017. Cash flow from operations and asset sales was $40.1 billion, including proceeds associated with asset sales of $4.1 billion. Capital and exploration expenditures were $25.9 billion, including incremental spend to accelerate value capture.

Fourth quarter 2018 earnings were $6 billion, or $1.41 per share assuming dilution, compared with $8.4 billion in the prior-year quarter. Earnings excluding U.S. tax reform and impairments were $6.4 billion, compared with $3.7 billion in the prior-year quarter.

“Strong results during a period of commodity price volatility demonstrate ExxonMobil’s ability to deliver superior cash flow in different market environments,” said Darren W. Woods, chairman and chief executive officer. “Our continued focus on long-term fundamentals and portfolio improvements position us well to grow shareholder value. ExxonMobil’s 2018 results further demonstrate our advantages in technology, scale and integration, providing a strong foundation to successfully compete across commodity price cycles.”

Fourth Quarter 2018 Business Highlights

Upstream

  • Crude prices weakened in the fourth quarter, while natural gas prices strengthened with higher LNG prices and increased seasonal demand.
  • Natural gas volumes were supported by stronger seasonal gas demand in Europe.
  • Permian unconventional production continued to ramp up in the fourth quarter, with production up more than 90 percent from the same period last year.

Downstream

  • Industry fuels margins weakened during the quarter due to lower seasonal gasoline demand and increased supply.
  • The company captured benefits from North American crude differentials with its integrated logistics and manufacturing capabilities.
  • Overall reliability remained strong during a quarter with higher levels of scheduled maintenance activity.

Chemical

  • Chemical margins weakened during the quarter with lengthening supply from recent capacity additions.
  • Sales growth from investments resulted in the highest annual volumes in over ten years.
  • Turnaround activities were completed at the Singapore chemical plant during the fourth quarter.

Strengthening the Portfolio

  • ExxonMobil made its tenth discovery offshore Guyana and increased its estimate of the discovered recoverable resource for the Stabroek Block to more than 5 billion oil-equivalent barrels.
  • ExxonMobil subsidiary Esso Italiana completed its sale of the Augusta refinery, three fuel terminals in Augusta, Palermo and Naples, and associated pipelines to Sonatrach Raffineria Italiana S.r.l. ExxonMobil will continue to serve the Italian market, where it has operated for more than 125 years, with high-performance products, including Esso fuels and Mobil lubricants.
  • The company generated full-year cash proceeds from asset sales of $4.1 billion, slightly above the previous 5-year average of $3.3 billion.

Investing for Growth

  • ExxonMobil made a final investment decision to develop the West Barracouta gas field in Bass Strait to bring new gas supplies to the Australian domestic market. The project, located in the VIC/L1 Block offshore Victoria, is part of the company’s continuing investment in the Gippsland Basin and will be tied back to the existing Barracouta infrastructure offshore in Bass Strait.
  • Mozambique Area 4 co-venture participants, including ExxonMobil, secured liquefied natural gas (LNG) offtake commitments from the partners’ affiliated buyer entities, a key milestone enabling a rapid move toward a final investment decision in 2019 on the first phase of the Rovuma LNG project. Those commitments are subject to the conclusion of fully-termed agreements and the approval of the government of Mozambique.
  • The company commenced operations of a new coker unit at its Antwerp refinery in Belgium to convert heavy, higher-sulfur residual oils into high-value transportation fuels such as marine gasoil and diesel. The new 50,000 barrel-per-day unit expands the refinery’s capacity to meet demand for cleaner transportation fuels throughout northwest Europe. The company’s investment in the new coker will also help meet anticipated demand for lower-sulfur fuel oil to comply with new standards to be implemented by the International Maritime Organization in 2020.

Advancing Innovative Technologies and Products

  • ExxonMobil started up its advanced hydrocracker expansion project at the Rotterdam refinery in the Netherlands. The new unit uses proprietary catalyst in a unique refining configuration to upgrade lower-value vacuum gas oil into higher value EHC™ Group II base stocks and ultra-low sulfur diesel.
  • ExxonMobil has signed a partnership agreement with IBM to advance the potential use of quantum computing in developing next-generation energy and manufacturing technologies. As part of the agreement, ExxonMobil becomes the first energy company to join the IBM Q Network, a worldwide community of Fortune 500 companies, startups, academic institutions and national research labs working to advance quantum computing and explore practical applications for science and business.

Exxon Mobil Corporation Fourth Quarter 2018

(millions of dollars)
  Fourth Quarter Third Quarter Twelve Months 
 

Earnings (U.S. GAAP) 

2018
2017 2018
2018
2017
 

Upstream

         
     United States
265
7,061 606
1,739
6,622
     Non-U.S.
3,048
1,291 3,623
12,340
6,733
 

Downstream

         
     United States
987
918 961
2,962
1,948
     Non-U.S.
1,717
646 681
3,048
3,649
 

Chemical

         
     United States
282
777 404
1,642
2,190
     Non-U.S.
455
493 309
1,709
2,328
Corporate and financing
(754)
(2,806) (344)
(2,600)
(3,760)
Net income attributable to ExxonMobil 
6,000
8,380 6,240
20,840
19,710
 

U.S. Tax Reform

 

Upstream

         
     United States
-
7,602 -
-
7,602
     Non-U.S.
-
(480) 271
271
(480)
 

Downstream

         
     United States
-
618 -
-
618
 

Chemical

         
     United States
-
335 -
-
335
Corporate and financing
20
(2,133) -
20
(2,133)
Total U.S. Tax Reform
20
5,942 271
291
5,942
 

Asset Impairments

 

Upstream

         
     United States
(284)
(481) -
(297)
(521)
     Non-U.S.
(113)
(807) -
(142)
(983)
 

Downstream

         
     United States
(12)
(6) -
(12)
(6)
     Non-U.S.
(13)
- (18)
(31)
(11)
 

Chemical

         
     Non-U.S.
(7)
- -
(7)
-
Total Asset Impairments
(429)
(1,294) (18)
(489)
(1,521)
 

Earnings Excluding U.S. Tax Reform and Impairments

 

Upstream

         
     United States
549
(60) 606
2,036
(459)
     Non-U.S.
3,161
2,578 3,352
12,211
8,196
 

Downstream

         
     United States
999
306 961
2,974
1,336
     Non-U.S.
1,730
646 699
3,079
3,660
 

Chemical

         
     United States
282
442 404
1,642
1,855
     Non-U.S.
462
493 309
1,716
2,328
Corporate and financing
(774)
(673) (344)
(2,620)
(1,627)
Earnings excluding U.S. Tax Reform and Impairments
6,409
3,723 5,987
21,038
15,289

Earnings and Volume Summary

Millions of Dollars


(unless noted)
4Q 2018 Adjusted1 4Q 2017 Adjusted1 Change Comments
 

Upstream

U.S. 549 (60) +609 Higher natural gas prices and liquids volume growth
Non-U.S. 3,161 2,578 +583 Higher natural gas prices, favorable tax and foreign exchange impacts, partly offset by lower liquids prices
Total
3,710
2,518
+1,192
Prices +660, volumes +180, foreign exchange +80, other +270
Production (koebd) 4,010 3,991 +19

Liquids +97 kbd: growth, partly offset by decline, lower entitlements and divestments


Gas -467 mcfd: decline largely in U.S. aligned with value focus, lower demand, lower entitlements and divestments, partly offset by unconventional growth
 

Downstream

       
U.S. 999 306 +693 Lower downtime/maintenance, higher margins capturing crude differentials, improved yield/sales mix and favorable tax impacts
Non-U.S. 1,730 646 +1,084 Higher divestment gains including sale of Augusta refinery / Germany Retail conversion to branded wholesaler (+888), higher margins and improved yield/sales mix, partly offset by higher downtime/maintenance
Total
2,729
952
+1,777
Divestment gains +680, margins +550, yield/sales mix +200, downtime/maintenance +130, other +220
Petroleum Product Sales (kbd) 5,495 5,624 -129  
 

Chemical

       
U.S. 282 442 -160 Weaker margins
Non-U.S. 462 493 -31 Weaker margins, higher growth-related expenses and higher downtime/maintenance, partly offset by favorable tax item (+212) and higher sales volumes
Total
744
935
-191
Margins -350, downtime/maintenance -90, tax item +210, sales +100, other -60
Prime Product Sales (kt) 6,672 6,782 -110 Downtime/maintenance, partly offset by growth-related volumes
Corporate and financing
(744)
(673)
-101
Lower U.S. tax rate

 

1Earnings excluding U.S. Tax Reform and Impairments

Earnings and Volume Summary

Millions of Dollars


(unless noted)
4Q 2018 Adjusted1 3Q 2018 Adjusted1 Change Comments
 

Upstream

       
U.S. 549 606 -57 Lower liquids prices and higher expenses, partly offset by higher liquids volumes and stronger natural gas prices
Non-U.S. 3,161 3,352 -191 Lower liquids prices, partly offset by higher volumes, stronger natural gas prices and favorable foreign exchange impacts
Total
3,710
3,958
-238
Prices -1,110, volumes +660, foreign exchange +100, other +100
Production (koebd) 4,010 3,958 -248

Liquids +62 kbd: growth and lower unscheduled downtime


Gas +973 mcfd: higher seasonal demand and entitlements
 

Downstream

       
U.S. 999 961 +38 Higher margins capturing crude differentials and improved yield/sales mix, partly offset by higher downtime/maintenance
Non-U.S. 1,730 699 +1,031 Higher divestment gains including sale of Augusta refinery / Germany Retail conversion to branded wholesaler (+888) and higher margins, partly offset by higher downtime/maintenance
Total
2,729
1,660
+1,069
Divestment gains +870, margins +500, yield/sales mix +70, downtime/maintenance -460, other +90
Petroleum Product Sales (kbd) 5,495 5,616 -121  
 

Chemical

       
U.S. 282 404 -122 Weaker margins
Non-U.S. 462 309 +153 Favorable tax item (+212), partly offset by growth-related expenses
Total
744
713
+31
Tax item +210, margins -110, other -70
Prime Product Sales (kt) 6,672 6,677 -5  
Corporate and financing 
(744)
(344)
-430
Mainly absence of favorable one-time tax item
1Earnings excluding U.S. Tax Reform and Impairments

Earnings and Volume Summary

Millions of Dollars


(unless noted)
FY 2018 Adjusted1 FY 2017 Adjusted1 Change Comments
 

Upstream

       
U.S. 2,036 (459) +2,495 Higher liquids prices and liquids volume growth and favorable mix, partly offset by higher growth-related expenses
Non-U.S. 12,211 8,196 +4,015 Higher prices and divestment gains / one-time items, partly offset by lower volumes and higher expenses largely from increased maintenance
Total
14,247
7,737
+6,510
Prices +7,040, divestment gains / one-time items +780, maintenance / growth-related expenses -970, volumes -240, other -100
Production (koebd) 3,833 3,985 -152

Liquids -17 kbd: growth in North America, more than offset by decline, lower entitlements and divestments


Gas -806 mcfd: decline largely in U.S. aligned with value focus, lower entitlements, divestments, and higher downtime
 

Downstream

       
U.S.  2,974 1,336 +1,638 Higher margins capturing crude differentials, favorable tax impacts, lower downtime/maintenance and favorable yield/sales mix
Non-U.S. 3,079 3,660 -581 Higher downtime/maintenance, lower margins and unfavorable foreign exchange impacts, partly offset by higher divestment gains and favorable yield/sales mix
Total
6,053
4,996
+1,057
Margins +660, divestment gains +490, yield/sales mix +260, downtime/maintenance -530, foreign exchange -290, other +470
Petroleum Product Sales (kbd) 5,512 5,530 -18  
 

Chemical

       
U.S. 1,642 1,855 -213 Volume growth, more than offset by higher growth-related expenses and weaker margins
Non-U.S. 1,716 2,328 -612 Weaker margins, higher growth-related expenses and higher downtime/maintenance, partly offset by volume growth, favorable tax item (+212) and favorable foreign exchange impacts
Total
3,358
4,183
-825
Margins -910, downtime/maintenance -150, sales +320, tax item +210, foreign exchange +140, other -440
Prime Product Sales (kt) 26,869 25,420 +1,449 Growth from new assets and stronger demand
Corporate and financing
(2,620)
(1,627)
-993
Higher pension and financing related costs, lower U.S. tax rate, and lower net favorable tax items
1Earnings excluding U.S. Tax Reform and Impairments

Cash Flow from Operations and Asset Sales

 

Millions of Dollars

 

4Q 2018

 

Comments

Net income including noncontrolling interests 6,206 Including $206 million for noncontrolling interests
Depreciation 5,028  
Changes in working capital (1,331) Mainly inventory build and timing of tax payments
Other (1,296) Including adjustment for gains on asset sales
Cash Flow from Operating Activities (U.S. GAAP)
8,607
 
Asset sales 884 Including Augusta
Cash Flow from Operations and Asset Sales
9,491
 
 

Millions of Dollars

 

FY 2018

 

Comments

Net income including noncontrolling interests 21,421 Including $581 million for noncontrolling interests
Depreciation 18,745  
Changes in working capital (1,356) Inventory build, partly offset by favorable payables
Other (2,796) Including adjustment for gains on asset sales
Cash Flow from Operating Activities (U.S. GAAP)
36,014
 
Asset sales 4,123 Including Germany Retail, Augusta, Scarborough
Cash Flow from Operations and Asset Sales
40,137
 

Twelve Months 2018 Financial Updates

During 2018, Exxon Mobil Corporation purchased 5 million shares of its common stock for the treasury at a gross cost of $425 million. These shares were acquired to offset dilution in conjunction with the company’s benefit plans and programs. The corporation will continue to acquire shares to offset dilution in conjunction with its benefit plans and programs, but does not currently plan on making purchases to reduce shares outstanding.

ExxonMobil will discuss financial and operating results and other matters during a webcast at 8:30 a.m. Central Time on February 1, 2019. To listen to the event or access an archived replay, please visit www.exxonmobil.com .

Cautionary Statement

Outlooks, projections, goals, targets, descriptions of business plans and objectives, and other statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, capacities, and timing; resource recoveries; earnings, margins and volume growth and mix; and maintenance activities could differ materially due to a number of factors. These include global or regional changes in supply and demand for oil, gas, and petrochemicals and other market conditions that impact prices and differentials; reservoir performance; timely completion of new projects; the impact of fiscal and commercial terms and the outcome of commercial negotiations; changes in law, taxes, or government operations or regulation and timely granting of governmental permits; war and other political or security disturbances; the actions of competitors; the capture of efficiencies between business lines; unforeseen technical or operating difficulties; unexpected technological developments; general economic conditions including the occurrence and duration of economic recessions; the results of research programs; and other factors discussed under the heading Factors Affecting Future Results on the Investors page of our website at www.exxonmobil.com and in Item 1A of ExxonMobil’s 2017 Form 10-K. We assume no duty to update these statements as of any future date.

Forward-looking statements in this release regarding future earnings refer to plans outlined at ExxonMobil’s Analysts’ Meeting held on March 7, 2018. The growth figures presented at that meeting are not forecasts of actual future results but were intended to help quantify future potential and goals of management plans and initiatives. See the complete March 7, 2018 presentation available in archive form (including the Cautionary Statement and Supplemental Information included with that presentation) on the Investors page of our website at www.exxonmobil.com for more detailed information. That material includes a description of the assumptions underlying these potential growth estimates including a flat real oil price of $60 per barrel, downstream and chemical margins consistent with 2017 levels, and future gas prices consistent with our internal company plans, as well as a reconciliation of adjusted 2017 earnings used as a baseline.

Frequently Used Terms and Non-GAAP Measures

This press release includes cash flow from operations and asset sales. Because of the regular nature of our asset management and divestment program, we believe it is useful for investors to consider proceeds associated with the sales of subsidiaries, property, plant and equipment, and sales and returns of investments together with cash provided by operating activities when evaluating cash available for investment in the business and financing activities. A reconciliation to net cash provided by operating activities is shown for 2018 period on page 8 and for 2018 and 2017 periods in Attachment IV.

This press release also includes total taxes including sales-based taxes. This is a broader indicator of the total tax burden on the corporation’s products and earnings, including certain sales and value-added taxes imposed on and concurrent with revenue-producing transactions with customers and collected on behalf of governmental authorities (“sales-based taxes”). It combines “Income taxes” and “Total other taxes and duties” with sales-based taxes, which are reported net in the income statement. We believe it is useful for the corporation and its investors to understand the total tax burden imposed on the corporation’s products and earnings. A reconciliation to total taxes is shown as part of the Estimated Key Financial and Operating Data in Attachment I.

This press release also includes earnings excluding impacts from U.S. tax reform enactment and asset impairments. We believe these figures are useful for investors to consider in comparing the performance of our underlying business across periods when one, or both, periods have been impacted by the U.S. tax reform or an asset impairment charge. A reconciliation of earnings excluding these items to U.S. GAAP earnings is shown on page 4.

U.S. Tax Reform

Following the December 22, 2017, enactment of the U.S. Tax Cuts and Jobs Act, in accordance with Accounting Standard Codification Topic 740 (Income Taxes) and following the guidance outlined in the SEC Staff Accounting Bulletin No. 118, the corporation included a $5,942 million credit in its 2017 results, representing a reasonable estimate of the income tax effects of the changes in tax law and tax rate. The corporation’s results for 2018 include a $291 million tax credit, mainly in the Non-U.S. Upstream, reflecting an updated estimate of the impact of U.S. tax reform including clarifications provided in proposed transition tax regulations issued by the U.S. Treasury in 2018. The corporation has completed its accounting for the enactment-date income tax effects of the U.S. Tax Cuts and Jobs Act in accordance with Accounting Standard Codification Topic 740 (Income Taxes).

Asset Impairments

In 2018, the corporation assessed the carrying values of certain assets, largely located in North America and with limited development potential. This review resulted in an after-tax impairment charge of $429 million in the fourth quarter. In 2017, the corporation ceased development planning activities for certain non-producing assets outside the U.S. and recognized impairments for certain U.S. asset groups which resulted in a fourth quarter 2017 after-tax charge of $1,294 million.

References to the resource base and other quantities of oil, natural gas or condensate may include amounts that are not yet classified as “proved reserves” under SEC definitions, but which we believe will likely be moved into the “proved reserves” category and produced in the future. The term “project” as used in this release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. Further information on ExxonMobil’s frequently used financial and operating measures and other terms including “Cash flow from operations and asset sales”, and “Total taxes including sales-based taxes” is contained under the heading “Frequently Used Terms” available through the “Investors” section of our website at exxonmobil.com.

Reference to Earnings

References to corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the consolidated income statement. Unless otherwise indicated, references to earnings, Upstream, Downstream, Chemical and Corporate and financing segment earnings, and earnings per share are ExxonMobil’s share after excluding amounts attributable to noncontrolling interests.

EHC is a registered trademark of Exxon Mobil Corporation.

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. 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.

Estimated Key Financial and Operating Data

Exxon Mobil Corporation Fourth Quarter 2018 - Attachment I
(millions of dollars, unless noted)

 
  Fourth Quarter Third Quarter Twelve Months 
 

Earnings / Earnings Per Share

2018
2017 2018
2018
2017
Total revenues and other income
71,895
66,515 76,605
290,212
244,363
Total costs and other deductions 
63,774
63,498 67,525
259,259
225,689
Income before income taxes 
8,121
3,017 9,080
30,953
18,674
     Income taxes
1,915
(5,392) 2,634
9,532
(1,174)
Net income including noncontrolling interests 
6,206
8,409 6,446
21,421
19,848
     Net income attributable to noncontrolling interests 
206
29 206
581
138
Net income attributable to ExxonMobil (U.S. GAAP)
6,000
8,380 6,240
20,840
19,710
Earnings per common share (dollars) 
1.41
1.97 1.46
4.88
4.63
Earnings per common share - assuming dilution (dollars)
1.41
1.97 1.46
4.88
4.63
Exploration expenses, including dry holes
555
703 292
1,466
1,790
 

Other Financial Data

         
Dividends on common stock          
     Total 
3,502
3,289 3,503
13,798
13,001
     Per common share (dollars)
0.82
0.77 0.82
3.23
3.06

Millions of common shares outstanding

         
     At period end      
4,237
4,239
     Average - assuming dilution 
4,270
4,270 4,271
4,270
4,256
ExxonMobil share of equity at period end      
191,794
187,688
ExxonMobil share of capital employed at period end      
232,280
232,467
Income taxes
1,915
(5,392) 2,634
9,532
(1,174)
Total other taxes and duties
8,473
8,583 8,939
35,230
32,459
     Total taxes 
10,388
3,191 11,573
44,726
31,285
Sales-based taxes 
5,444
5,245 5,518
21,750
19,725
     Total taxes including sales-based taxes 
15,832
8,436 17,091
66,512
51,010
ExxonMobil share of income taxes of equity companies
992
500 755
3,142
2,228
Exxon Mobil Corporation Fourth Quarter 2018 - Attachment II
  Fourth Quarter  Third Quarter Twelve Months
 

Net production of crude oil, natural gas liquids, bitumen and synthetic oil, thousand barrels per day (kbd) 

2018
2017 2018
2018
2017

     United States

583
525 555
551
514
     Canada / Other Americas
474
426 454
438
412
     Europe
122
155 127
132
182
     Africa
376
403 387
387
423
     Asia
745
690 706
711
698
     Australia / Oceania
48
52 57
47
54
Worldwide
2,348
2,251 2,286
2,266
2,283
 

Natural gas production available for sale, million cubic feet per day (mcfd)

         
     United States
2,581
2,753 2,549
2,574
2,936
     Canada / Other Americas
247
240 224
227
218
     Europe
1,943
2,266 1,004
1,653
1,948
     Africa
16
6 16
13
5
     Asia
3,804
3,855 3,685
3,613
3,794
     Australia / Oceania
1,383
1,321 1,523
1,325
1,310
Worldwide
9,974
10,441 9,001
9,405
10,211
Oil-equivalent production (koebd)1
4,010
3,991 3,786
3,833
3,985
Gas converted to oil-equivalent at 6 million cubic feet = 1 thousand barrels.
Exxon Mobil Corporation Fourth Quarter 2018 - Attachment III
  Fourth Quarter Third Quarter  Twelve Months 
 

Refinery throughput (kbd)

2018
2017 2018
2018
2017
United States
1,661
1,379 1,644
1,588
1,508
Canada
408
391 388
392
383
Europe
1,366
1,509 1,446
1,422
1,510
Asia Pacific
670
728 720
706
690
Other
193
200 194
164
200
     
     Worldwide
4,298
4,207 4,392
4,272
4,291
 

Petroleum product sales (kbd) 

         
United States
2,230
2,209 2,267
2,210
2,190
Canada
516
501 527
510
499
Europe
1,474
1,589 1,582
1,556
1,597
Asia Pacific
825
819 824
815
757
Other
450
506 416
421
487
     
     Worldwide
5,495
5,624 5,616
5,512
5,530
Gasolines, naphthas
2,183
2,353 2,255
2,217
2,262
Heating oils, kerosene, diesel
1,915
1,878 1,837
1,840
1,850
Aviation fuels
376
292 430
402
382
Heavy fuels
387
370 411
395
371
Specialty products
634
630 683
658
665
     
     Worldwide
5,495
5,624 5,616
5,512
5,530
 

Chemical prime product sales, thousand metric tons (kt)

         
United States
2,577
2,399 2,445
9,824
9,307
Non-U.S.
4,095
4,383 4,232
17,045
16,113
      Worldwide
6,672
6,782 6,677
26,869
25,420
Exxon Mobil Corporation Fourth Quarter 2018 - Attachment IV
(millions of dollars)
  Fourth Quarter Third Quarter  Twelve Months
 

Capital and Exploration Expenditures 

2018
2017 2018
2018
2017
 

Upstream

         
     United States
2,630
1,158 2,040
7,670
3,716
     Non-U.S.
3,620
6,457 3,290
12,524
12,979
     Total
6,250
7,615 5,330
20,194
16,695
 

Downstream

         
     United States
325
264 297
1,186
823
     Non-U.S.
541
518 422
2,243
1,701
     Total
866
782 719
3,429
2,524
 

Chemical

         
     United States
579
389 411
1,747
1,583
     Non-U.S.
132
167 115
488
2,188
     Total
711
556 526
2,235
3,771
           
Other
16
46 11
65
90
Worldwide
7,843
8,999 6,586
25,923
23,080
           
 

Cash flow from operations and asset sales

         
Net cash provided by operating activities (U.S. GAAP)
8,607
7,411 11,108
36,014
30,066
Proceeds associated with asset sales
884
1,408 1,491
4,123
3,103
Cash flow with operations and asset sales
9,491
8,819 12,599
40,137
33,169
Exxon Mobil Corporation Earnings - Attachment V
  $ Millions $ Per Common Share 1
 

2014

   
First Quarter 9,100 2.10 
Second Quarter 8,780 2.05
Third Quarter 8,070 1.89
Fourth Quarter  6,570 1.56
Year 32,520 7.60
     
 

2015

   
First Quarter 4,940 1.17
Second Quarter 4,190 1.00
Third Quarter 4,240 1.01
Fourth Quarter 2,780 0.67
Year 16,150 3.85
     
 

2016

   
First Quarter 1,810 0.43
Second Quarter 1,700 0.41
Third Quarter  2,650 0.63
Fourth Quarter 1,680 0.41
Year 7,840 1.88
     
 

2017

   
First Quarter 4,010 0.95
Second Quarter 3,350 0.78
Third Quarter  3,970 0.93
Fourth Quarter 8,380 1.97
Year 19,710 4.63
     
 

2018

   
First Quarter 4,650 1.09
Second Quarter 3,950 0.92
Third Quarter 6,240 1.46
Fourth Quarter 6,000 1.41
Year 20,840 4.88
 1 Computed using the average number of shares outstanding during each period.