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:
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
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
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
(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
(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
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
(6,470)
(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
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
(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
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
(6,006)
(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
(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
(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
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
—)
—)
—)
(79)
—)
—)
—)
(27)
—)
—)
—)
(68)
—)
—)
—)
(58)
—)
(2)
—)
(28)
—)
Cash dividends to ExxonMobil shareholders
(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
(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
(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
(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
(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 flows exhibited significant volatility, peaking in the third quarter of 2022 before entering a period of gradual normalization and subsequent decline. Net income followed a similar trajectory, reaching a peak of approximately $20.2 billion in September 2022, then trending downward to $4.5 billion by March 2026.
Operational Cash Generation
Net cash provided by operating activities demonstrated a strong surge between 2021 and late 2022, peaking at $24.4 billion. While cash flows remained generally robust through 2024, a downward trend is observable in the final periods, concluding at $8.7 billion in March 2026.
Capital Investment Trends
Investments in property, plant, and equipment showed a consistent upward trajectory. Quarterly expenditures rose from a range of $2.4 billion to $4.1 billion in 2021 to peaks of $8.7 billion in September 2025, indicating an intensified capital expenditure strategy and an expansion of the asset base over the analyzed period.
Shareholder Distribution and Capital Return
Cash dividends remained highly stable, with a gradual increase from approximately $3.7 billion per quarter in 2021 to over $4.3 billion by March 2026. Concurrently, the company aggressively scaled its share repurchase program; common stock acquisitions increased from negligible amounts in early 2021 to consistent quarterly outflows between $4 billion and $5.7 billion from 2022 onward.
Financing and Liquidity Management
Financing activities were primarily driven by shareholder returns and debt adjustments. While 2021 was characterized by significant reductions in short-term debt, the period ending March 2026 saw a sharp reversal, highlighted by a substantial increase in commercial paper and short-term debt additions totaling $9.1 billion.
The overall financial trajectory indicates a transition from a period of exceptional windfall profits and debt deleveraging in 2022 toward a phase of higher capital intensity and sustained shareholder distributions. The most recent data suggests that maintaining these distributions and investment levels has coincided with a renewed reliance on short-term financing instruments as operating cash flows softened.
