Cash Flow Statement
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.
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Exxon Mobil Corp., consolidated cash flow statement
US$ in millions
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).
- Net Income Trend
- The net income experienced significant fluctuation over the analyzed periods. Beginning with a substantial loss in 2020, the company recovered to profitability in 2021, followed by a sharp increase in 2022. However, net income declined in 2023 and 2024, though remaining positive and at levels higher than those observed in 2021.
- Depreciation and Depletion
- Depreciation and depletion expenses showed variability, peaking in 2020 before decreasing notably in 2021. Subsequent years indicated relatively stable but slightly lower values compared to 2020, suggesting changes in asset base or impairment activities.
- Deferred Income Taxes
- Deferred income tax charges and credits fluctuated mildly, with a notable credit in 2020 turning into small charges in subsequent years, indicating changing tax timing differences or recognition patterns.
- Postretirement Benefits and Other Long-term Obligations
- Postretirement benefits expense exhibited inconsistency, with positive values in 2020 and 2021, a significant negative adjustment in 2022, and variable minor adjustments thereafter. Similarly, other long-term obligation provisions showed a general trend of negative values, indicating payments exceeding provisions in most years.
- Adjustments for Non-cash Transactions
- This item followed a downward trend from a peak in 2020 to lower but stable levels in later years, reflecting changes in accounting non-cash adjustments impacting cash flow metrics.
- Dividends from Equity Companies
- Dividends received compared to equity earnings showed negative figures in 2021 and 2022, recovering to positive in 2023 and 2024, indicating variability in returns from equity investments.
- Working Capital Changes
- Analysis of notes, inventories, and other current assets alongside accounts payable demonstrates notable fluctuations. Receivables mostly increased, except for brief reductions in 2023. Inventories consistently increased, suggesting accumulation or stockpiling. Accounts payable grew significantly in 2021 and 2022 but dropped in 2023 before recovering in 2024. Overall, operational working capital changes were positive only in 2021, with negative or minimal changes in other years.
- Cash Flow from Operating Activities
- There was a strong upward trend from 2020 through 2022, with cash flow peaking in 2022. The subsequent decline in 2023 and stabilization in 2024 still reflected robust cash generation compared to the starting point.
- Investing Activities
- Capital expenditures increased steadily year-over-year, reaching the highest level in 2024, which indicates an expansion or modernization of the asset base. Proceeds from asset sales peaked in 2022 but were slightly lower afterward. Net cash used in investing activities moved more negative over time, showing increasing investment outflows.
- Financing Activities and Debt Management
- Debt activities displayed mixed patterns: long-term debt additions were low but steady, with occasional reductions mainly in 2024. Short-term debt additions significantly decreased after 2020, alongside reductions. Financing activities manifested net cash outflows after 2020, with increasing negative cash flows through 2024, reflecting debt repayments, dividend payments, and share repurchases.
- Dividends and Shareholder Returns
- Cash dividends to shareholders remained stable in 2020 through 2023 but increased notably in 2024. Share repurchases intensified significantly from 2022 onward, indicating a strategic effort to return capital to shareholders.
- Cash Position and Liquidity
- Cash and cash equivalents demonstrated strong growth through 2022 and 2023, peaking at year-end 2023. However, in 2024, there was a decline, corresponding with increased investing and financing outflows, leading to a reduction in liquidity.
- Exchange Rate Effects
- Exchange rate impacts on cash were minor but mostly negative across the years except for 2023, which presented a small positive effect.