Stock Analysis on Net
Stock Analysis on Net

Exxon Mobil Corp. (NYSE:XOM)

Analysis of Property, Plant and Equipment

Microsoft Excel

Property, Plant and Equipment Disclosure

Exxon Mobil Corp., balance sheet: property, plant and equipment

US$ in millions

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Upstream 423,038 359,031 350,748 375,813 386,614
Energy Products 58,259 57,400 58,393 58,504 57,922
Chemical Products 39,224 38,801 36,322 33,514 42,868
Specialty Products 9,559 9,385 8,895 9,217 —
Other 23,823 22,768 18,335 18,014 17,918
Property, plant and equipment, cost 553,903 487,385 472,693 495,062 505,322
Accumulated depreciation and depletion (259,585) (272,445) (268,001) (278,510) (277,769)
Property, plant and equipment, at cost, less accumulated depreciation and depletion 294,318 214,940 204,692 216,552 227,553

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Item Description The company
Property, plant and equipment, cost Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Exxon Mobil Corp. property, plant and equipment, cost increased from 2022 to 2023 and from 2023 to 2024.
Property, plant and equipment, at cost, less accumulated depreciation and depletion Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Exxon Mobil Corp. property, plant and equipment, at cost, less accumulated depreciation and depletion increased from 2022 to 2023 and from 2023 to 2024.

Asset Age Ratios (Summary)

Exxon Mobil Corp., asset age ratios

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Average age ratio 46.86% 55.90% 56.70% 56.26% 54.97%
Estimated total useful life (years) 24 24 20 24 11
Estimated age, time elapsed since purchase (years) 11 13 11 14 6
Estimated remaining life (years) 13 10 9 11 5

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Exxon Mobil Corp. average age ratio of depreciable property, plant and equipment improved from 2022 to 2023 and from 2023 to 2024.
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. Exxon Mobil Corp. estimated total useful life of depreciable property, plant and equipment increased from 2022 to 2023 and from 2023 to 2024.
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. Exxon Mobil Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.
Estimated remaining life Exxon Mobil Corp. estimated remaining life of depreciable property, plant and equipment increased from 2022 to 2023 and from 2023 to 2024.

Average Age

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Accumulated depreciation and depletion 259,585 272,445 268,001 278,510 277,769
Property, plant and equipment, cost 553,903 487,385 472,693 495,062 505,322
Asset Age Ratio
Average age1 46.86% 55.90% 56.70% 56.26% 54.97%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 Average age = 100 × Accumulated depreciation and depletion ÷ Property, plant and equipment, cost
= 100 × 259,585 ÷ 553,903 = 46.86%

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Exxon Mobil Corp. average age ratio of depreciable property, plant and equipment improved from 2022 to 2023 and from 2023 to 2024.

Estimated Total Useful Life

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Property, plant and equipment, cost 553,903 487,385 472,693 495,062 505,322
Depreciation and depletion expense 23,442 20,641 24,040 20,607 46,009
Asset Age Ratio (Years)
Estimated total useful life1 24 24 20 24 11

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 Estimated total useful life = Property, plant and equipment, cost ÷ Depreciation and depletion expense
= 553,903 ÷ 23,442 = 24

Asset age ratio Description The company
Estimated total useful life Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors. Exxon Mobil Corp. estimated total useful life of depreciable property, plant and equipment increased from 2022 to 2023 and from 2023 to 2024.

Estimated Age, Time Elapsed since Purchase

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Accumulated depreciation and depletion 259,585 272,445 268,001 278,510 277,769
Depreciation and depletion expense 23,442 20,641 24,040 20,607 46,009
Asset Age Ratio (Years)
Time elapsed since purchase1 11 13 11 14 6

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 Time elapsed since purchase = Accumulated depreciation and depletion ÷ Depreciation and depletion expense
= 259,585 ÷ 23,442 = 11

Asset age ratio Description The company
Estimated time elapsed since purchase The approximate age in years of a company fixed assets. Useful for comparison purposes. Exxon Mobil Corp. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2022 to 2023 but then improved from 2023 to 2024 exceeding 2022 level.

Estimated Remaining Life

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Selected Financial Data (US$ in millions)
Property, plant and equipment, at cost, less accumulated depreciation and depletion 294,318 214,940 204,692 216,552 227,553
Depreciation and depletion expense 23,442 20,641 24,040 20,607 46,009
Asset Age Ratio (Years)
Estimated remaining life1 13 10 9 11 5

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

2024 Calculations

1 Estimated remaining life = Property, plant and equipment, at cost, less accumulated depreciation and depletion ÷ Depreciation and depletion expense
= 294,318 ÷ 23,442 = 13

Asset age ratio Description The company
Estimated remaining life Exxon Mobil Corp. estimated remaining life of depreciable property, plant and equipment increased from 2022 to 2023 and from 2023 to 2024.