The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
Exxon Mobil Corp., consolidated cash flow statement (quarterly data)
US$ in millions
3 months ended:
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Mar 31, 2025
Dec 31, 2024
Sep 30, 2024
Jun 30, 2024
Mar 31, 2024
Dec 31, 2023
Sep 30, 2023
Jun 30, 2023
Mar 31, 2023
Dec 31, 2022
Sep 30, 2022
Jun 30, 2022
Mar 31, 2022
Dec 31, 2021
Sep 30, 2021
Jun 30, 2021
Mar 31, 2021
Net income including noncontrolling interests
14,881)
4,472)
6,609)
7,768)
7,354)
8,033)
7,955)
8,971)
9,571)
8,566)
8,012)
9,346)
8,153)
11,843)
13,055)
20,198)
18,574)
5,750)
9,079)
6,942)
4,781)
2,796)
Depreciation and depletion, includes impairments
8,689)
6,771)
7,715)
6,475)
6,101)
5,702)
6,585)
6,258)
5,787)
4,812)
7,740)
4,415)
4,242)
4,244)
5,064)
5,642)
4,451)
8,883)
5,661)
4,990)
4,952)
5,004)
Changes in operational working capital, excluding cash and debt
(2,099)
(1,758)
(2,728)
(152)
(3,970)
(878)
(1,552)
2,334)
(4,616)
2,008)
(2,191)
1,821)
(3,583)
(302)
(200)
1,667)
(2,747)
1,086)
1,930)
659)
(380)
1,953)
All other items, net
2,084)
(780)
1,083)
697)
2,065)
96)
(759)
6)
(182)
(722)
121)
381)
571)
556)
(298)
(3,082)
(315)
(931)
454)
(500)
297)
(489)
Net cash provided by operating activities
23,555)
8,705)
12,679)
14,788)
11,550)
12,953)
12,229)
17,569)
10,560)
14,664)
13,682)
15,963)
9,383)
16,341)
17,621)
24,425)
19,963)
14,788)
17,124)
12,091)
9,650)
9,264)
Additions to property, plant and equipment
(6,527)
(6,470)
(7,450)
(8,727)
(6,283)
(5,898)
(6,837)
(6,160)
(6,235)
(5,074)
(6,228)
(4,920)
(5,359)
(5,412)
(5,783)
(4,876)
(3,837)
(3,911)
(4,089)
(2,840)
(2,747)
(2,400)
Proceeds from asset sales and returns of investments
430)
219)
1,020)
139)
176)
1,823)
3,231)
127)
926)
703)
1,020)
917)
1,287)
854)
1,333)
2,682)
939)
293)
2,601)
18)
250)
307)
Additional investments and advances
(324)
(387)
(3,160)
(501)
(319)
(153)
(2,261)
(294)
(323)
(421)
(1,854)
(307)
(389)
(445)
(2,175)
(272)
(226)
(417)
(1,762)
(442)
(264)
(349)
Other investing activities including collection of advances
102)
632)
2,457)
610)
246)
93)
1,615)
87)
9)
215)
1,348)
31)
105)
78)
1,270)
88)
60)
90)
1,140)
210)
45)
87)
Cash acquired from mergers and acquisitions
—)
—)
—)
—)
—)
—)
—)
—)
754)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
Net cash used in investing activities
(6,319)
(6,006)
(7,133)
(8,479)
(6,180)
(4,135)
(4,252)
(6,240)
(4,869)
(4,577)
(5,714)
(4,279)
(4,356)
(4,925)
(5,355)
(2,378)
(3,064)
(3,945)
(2,110)
(3,054)
(2,716)
(2,355)
Additions to long-term debt
—)
894)
1,166)
262)
603)
280)
473)
209)
109)
108)
134)
669)
116)
20)
582)
55)
—)
—)
—)
46)
—)
—)
Reductions in long-term debt
23)
(158)
(1,095)
—)
(6)
(7)
(8)
—)
(1,142)
—)
(4)
(5)
(6)
—)
(5)
—)
—)
—)
(4)
(4)
—)
—)
Additions to short-term debt
—)
—)
1,601)
586)
172)
—)
—)
—)
—)
—)
—)
—)
—)
—)
198)
—)
—)
—)
490)
2,535)
3,881)
5,781)
Reductions in short-term debt
(98)
(5,402)
(589)
(139)
(135)
(4,541)
(908)
(1,064)
(1,665)
(1,106)
(657)
(50)
(46)
(126)
(4,180)
(1,559)
(238)
(2,098)
(5,330)
(6,066)
(7,151)
(10,849)
Additions (reductions) in commercial paper, and debt with three months or less maturity
(5,163)
9,075)
683)
955)
298)
(41)
(13)
1)
(1)
(5)
(1)
(111)
20)
(192)
(1,613)
335)
(63)
1,366)
(3,980)
(323)
317)
1,003)
Contingent consideration payments
(125)
—)
—)
—)
(79)
—)
—)
—)
(27)
—)
—)
—)
(68)
—)
—)
—)
(58)
—)
(2)
—)
(28)
—)
Cash dividends to ExxonMobil shareholders
(4,299)
(4,334)
(4,366)
(4,242)
(4,288)
(4,335)
(4,371)
(4,240)
(4,285)
(3,808)
(3,839)
(3,663)
(3,701)
(3,738)
(3,767)
(3,685)
(3,727)
(3,760)
(3,763)
(3,720)
(3,721)
(3,720)
Cash dividends to noncontrolling interests
(164)
(168)
(411)
(72)
(311)
(141)
(78)
(183)
(231)
(166)
(20)
(218)
(178)
(115)
(76)
(68)
(63)
(60)
(58)
(54)
(60)
(52)
Changes in noncontrolling interests
—)
61)
(364)
(330)
2)
(12)
(478)
(317)
10)
(6)
(512)
(269)
27)
(16)
(401)
(377)
(603)
(94)
(158)
(71)
(260)
53)
Inflows from noncontrolling interests for major projects
—)
—)
20)
23)
23)
22)
20)
—)
—)
12)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
—)
Common stock acquired
(5,139)
(4,868)
(5,379)
(5,126)
(4,964)
(4,804)
(5,780)
(5,512)
(5,326)
(3,011)
(4,656)
(4,412)
(4,340)
(4,340)
(4,675)
(4,494)
(3,919)
(2,067)
(154)
—)
—)
(1)
Net cash used in financing activities
(14,965)
(4,900)
(8,734)
(8,083)
(8,685)
(13,579)
(11,143)
(11,106)
(12,558)
(7,982)
(9,555)
(8,059)
(8,176)
(8,507)
(13,937)
(9,793)
(8,671)
(6,713)
(12,959)
(7,657)
(7,022)
(7,785)
Effects of exchange rate changes on cash
(118)
(45)
—)
(68)
514)
86)
(619)
261)
6)
(324)
182)
(209)
30)
102)
872)
(651)
(441)
142)
(21)
(77)
38)
27)
Increase (decrease) in cash and cash equivalents, including restricted
Operating cash flow exhibits significant volatility, characterized by a substantial peak in 2022 followed by a period of relative stabilization. Net cash provided by operating activities reached a high of 24.4 billion US$ in September 2022, reflecting a period of exceptional profitability. While subsequent quarters showed a normalization of cash inflows, the company maintained a strong operating baseline, generally remaining above 10 billion US$ per quarter, with a notable surge to 23.5 billion US$ by June 2026.
Operating Performance and Net Income
Net income shows a pattern of high variability, peaking in mid-2022 at over 20 billion US$ before settling into a range between 6 billion and 11 billion US$ for most of 2023 through 2025. Depreciation and depletion expenses have trended generally upward, rising from approximately 5 billion US$ in early 2021 to peak at 8.6 billion US$ in June 2026, indicating a growing asset base or an increase in impairment charges.
Capital Expenditure and Investment Strategy
A consistent increase in capital intensity is evident in the additions to property, plant, and equipment. Spending grew from 2.4 billion US$ in March 2021 to a consistent range of 6 billion to 8 billion US$ per quarter from 2023 onwards. Net cash used in investing activities remains consistently negative, although this is partially offset by sporadic proceeds from asset sales, which peaked at 3.2 billion US$ in December 2024.
Shareholder Returns and Capital Allocation
There is a clear strategic shift toward increased shareholder distributions. Cash dividends remained stable and gradually increased from 3.7 billion US$ to approximately 4.3 billion US$ per quarter. More significantly, the acquisition of common stock evolved from negligible amounts in early 2021 to a sustained program of 4 billion to 5 billion US$ per quarter starting in mid-2022, representing a major deployment of excess liquidity.
Debt Management and Financing
Financing activities are dominated by shareholder returns and debt adjustments. A period of aggressive short-term debt reduction occurred in early 2021. In later periods, debt activity became more balanced, with occasional additions to long-term debt offset by intermittent reductions in short-term obligations. Net cash used in financing activities is consistently negative, reflecting the company's priority to return capital to shareholders over increasing leverage.
Liquidity and Net Cash Position
The net change in cash and cash equivalents fluctuates heavily due to the timing of large-scale share buybacks and capital expenditures. Despite these fluctuations, the operating cash flow has generally been sufficient to cover both the capital expenditure requirements and the expanded shareholder return program without requiring significant new external financing.
