Analysis of Reportable Segments
Exxon Mobil Corp. operates in 4 segments: Upstream; Energy Products; Chemical Products; and Specialty Products.
Segment Profit Margin
Exxon Mobil Corp., profit margin by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Upstream | 83.32% | 80.77% | 72.37% | -137.67% | 62.40% |
| Energy Products | 4.52% | 4.89% | -0.17% | -1.93% | 1.13% |
| Chemical Products | 7.35% | 12.83% | 24.41% | 12.80% | 2.16% |
| Specialty Products | 14.74% | 12.15% | 18.80% | 9.25% | — |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Upstream | Upstream segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Energy Products | Energy Products segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Chemical Products | Chemical Products segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Specialty Products | Specialty Products segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Profit Margin: Upstream
Exxon Mobil Corp.; Upstream; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) after income tax | 21,308) | 36,479) | 15,775) | (20,030) | 14,442) |
| Sales and other operating revenue | 25,574) | 45,164) | 21,797) | 14,549) | 23,143) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 83.32% | 80.77% | 72.37% | -137.67% | 62.40% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Earnings (loss) after income tax ÷ Sales and other operating revenue
= 100 × 21,308 ÷ 25,574 = 83.32%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Upstream | Upstream segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Energy Products
Exxon Mobil Corp.; Energy Products; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) after income tax | 12,142) | 14,966) | (346) | (2,572) | 2,323) |
| Sales and other operating revenue | 268,383) | 305,977) | 208,906) | 133,367) | 204,983) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 4.52% | 4.89% | -0.17% | -1.93% | 1.13% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Earnings (loss) after income tax ÷ Sales and other operating revenue
= 100 × 12,142 ÷ 268,383 = 4.52%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Energy Products | Energy Products segment profit margin ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Profit Margin: Chemical Products
Exxon Mobil Corp.; Chemical Products; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) after income tax | 1,637) | 3,543) | 6,989) | 2,257) | 592) |
| Sales and other operating revenue | 22,265) | 27,619) | 28,628) | 17,634) | 27,416) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 7.35% | 12.83% | 24.41% | 12.80% | 2.16% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Earnings (loss) after income tax ÷ Sales and other operating revenue
= 100 × 1,637 ÷ 22,265 = 7.35%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Chemical Products | Chemical Products segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Specialty Products
Exxon Mobil Corp.; Specialty Products; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) after income tax | 2,714) | 2,415) | 3,259) | 1,201) | —) |
| Sales and other operating revenue | 18,407) | 19,879) | 17,331) | 12,986) | —) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 14.74% | 12.15% | 18.80% | 9.25% | — |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Earnings (loss) after income tax ÷ Sales and other operating revenue
= 100 × 2,714 ÷ 18,407 = 14.74%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Specialty Products | Specialty Products segment profit margin ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Return on Assets (Segment ROA)
Exxon Mobil Corp., ROA by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Upstream | 10.33% | 17.67% | 7.54% | -9.27% | 5.85% |
| Energy Products | 16.31% | 20.34% | -0.54% | -4.53% | 3.83% |
| Chemical Products | 4.72% | 10.67% | 22.36% | 7.73% | 1.60% |
| Specialty Products | 24.67% | 21.65% | 29.88% | 11.20% | — |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Upstream | Upstream segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
| Energy Products | Energy Products segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Chemical Products | Chemical Products segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Specialty Products | Specialty Products segment ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment ROA: Upstream
Exxon Mobil Corp.; Upstream; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) after income tax | 21,308) | 36,479) | 15,775) | (20,030) | 14,442) |
| Total assets | 206,366) | 206,459) | 209,272) | 216,017) | 246,931) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 10.33% | 17.67% | 7.54% | -9.27% | 5.85% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Earnings (loss) after income tax ÷ Total assets
= 100 × 21,308 ÷ 206,366 = 10.33%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Upstream | Upstream segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment ROA: Energy Products
Exxon Mobil Corp.; Energy Products; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) after income tax | 12,142) | 14,966) | (346) | (2,572) | 2,323) |
| Total assets | 74,460) | 73,565) | 64,630) | 56,758) | 60,575) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 16.31% | 20.34% | -0.54% | -4.53% | 3.83% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Earnings (loss) after income tax ÷ Total assets
= 100 × 12,142 ÷ 74,460 = 16.31%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Energy Products | Energy Products segment ROA improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment ROA: Chemical Products
Exxon Mobil Corp.; Chemical Products; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) after income tax | 1,637) | 3,543) | 6,989) | 2,257) | 592) |
| Total assets | 34,675) | 33,217) | 31,250) | 29,182) | 36,920) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 4.72% | 10.67% | 22.36% | 7.73% | 1.60% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Earnings (loss) after income tax ÷ Total assets
= 100 × 1,637 ÷ 34,675 = 4.72%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Chemical Products | Chemical Products segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Specialty Products
Exxon Mobil Corp.; Specialty Products; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) after income tax | 2,714) | 2,415) | 3,259) | 1,201) | —) |
| Total assets | 10,999) | 11,155) | 10,908) | 10,721) | —) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 24.67% | 21.65% | 29.88% | 11.20% | — |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Earnings (loss) after income tax ÷ Total assets
= 100 × 2,714 ÷ 10,999 = 24.67%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Specialty Products | Specialty Products segment ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Asset Turnover
Exxon Mobil Corp., asset turnover by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Upstream | 0.12 | 0.22 | 0.10 | 0.07 | 0.09 |
| Energy Products | 3.60 | 4.16 | 3.23 | 2.35 | 3.38 |
| Chemical Products | 0.64 | 0.83 | 0.92 | 0.60 | 0.74 |
| Specialty Products | 1.67 | 1.78 | 1.59 | 1.21 | — |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Upstream | Upstream segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
| Energy Products | Energy Products segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Chemical Products | Chemical Products segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Specialty Products | Specialty Products segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Asset Turnover: Upstream
Exxon Mobil Corp.; Upstream; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenue | 25,574) | 45,164) | 21,797) | 14,549) | 23,143) |
| Total assets | 206,366) | 206,459) | 209,272) | 216,017) | 246,931) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.12 | 0.22 | 0.10 | 0.07 | 0.09 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Sales and other operating revenue ÷ Total assets
= 25,574 ÷ 206,366 = 0.12
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Upstream | Upstream segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Asset Turnover: Energy Products
Exxon Mobil Corp.; Energy Products; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenue | 268,383) | 305,977) | 208,906) | 133,367) | 204,983) |
| Total assets | 74,460) | 73,565) | 64,630) | 56,758) | 60,575) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 3.60 | 4.16 | 3.23 | 2.35 | 3.38 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Sales and other operating revenue ÷ Total assets
= 268,383 ÷ 74,460 = 3.60
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Energy Products | Energy Products segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Asset Turnover: Chemical Products
Exxon Mobil Corp.; Chemical Products; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenue | 22,265) | 27,619) | 28,628) | 17,634) | 27,416) |
| Total assets | 34,675) | 33,217) | 31,250) | 29,182) | 36,920) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.64 | 0.83 | 0.92 | 0.60 | 0.74 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Sales and other operating revenue ÷ Total assets
= 22,265 ÷ 34,675 = 0.64
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Chemical Products | Chemical Products segment asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover: Specialty Products
Exxon Mobil Corp.; Specialty Products; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Sales and other operating revenue | 18,407) | 19,879) | 17,331) | 12,986) | —) |
| Total assets | 10,999) | 11,155) | 10,908) | 10,721) | —) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 1.67 | 1.78 | 1.59 | 1.21 | — |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Sales and other operating revenue ÷ Total assets
= 18,407 ÷ 10,999 = 1.67
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Specialty Products | Specialty Products segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Capital Expenditures to Depreciation
Exxon Mobil Corp., capital expenditures to depreciation by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Upstream | 1.12 | 0.63 | 0.51 | 0.25 | 1.15 |
| Energy Products | 1.64 | 1.06 | 1.07 | 1.99 | 2.96 |
| Chemical Products | 1.81 | 2.75 | 1.31 | 1.60 | 1.64 |
| Specialty Products | 1.43 | 0.82 | 0.56 | 0.88 | — |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Upstream | Upstream segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Energy Products | Energy Products segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. | |
| Chemical Products | Chemical Products segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. | |
| Specialty Products | Specialty Products segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Upstream
Exxon Mobil Corp.; Upstream; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Additions to property, plant and equipment | 18,589) | 12,381) | 8,616) | 10,144) | 17,751) |
| Depreciation and depletion expense | 16,600) | 19,804) | 16,749) | 41,350) | 15,467) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.12 | 0.63 | 0.51 | 0.25 | 1.15 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property, plant and equipment ÷ Depreciation and depletion expense
= 18,589 ÷ 16,600 = 1.12
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Upstream | Upstream segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Energy Products
Exxon Mobil Corp.; Energy Products; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Additions to property, plant and equipment | 2,561) | 2,105) | 1,853) | 4,383) | 4,462) |
| Depreciation and depletion expense | 1,562) | 1,987) | 1,736) | 2,201) | 1,506) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.64 | 1.06 | 1.07 | 1.99 | 2.96 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property, plant and equipment ÷ Depreciation and depletion expense
= 2,561 ÷ 1,562 = 1.64
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Energy Products | Energy Products segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Capital Expenditures to Depreciation: Chemical Products
Exxon Mobil Corp.; Chemical Products; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Additions to property, plant and equipment | 2,375) | 2,718) | 1,250) | 1,704) | 1,933) |
| Depreciation and depletion expense | 1,311) | 988) | 955) | 1,068) | 1,176) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.81 | 2.75 | 1.31 | 1.60 | 1.64 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property, plant and equipment ÷ Depreciation and depletion expense
= 2,375 ÷ 1,311 = 1.81
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Chemical Products | Chemical Products segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Capital Expenditures to Depreciation: Specialty Products
Exxon Mobil Corp.; Specialty Products; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Additions to property, plant and equipment | 451) | 237) | 164) | 440) | —) |
| Depreciation and depletion expense | 315) | 288) | 292) | 498) | —) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.43 | 0.82 | 0.56 | 0.88 | — |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Additions to property, plant and equipment ÷ Depreciation and depletion expense
= 451 ÷ 315 = 1.43
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Specialty Products | Specialty Products segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Earnings (loss) after income tax
Exxon Mobil Corp., earnings (loss) after income tax by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Upstream | 21,308) | 36,479) | 15,775) | (20,030) | 14,442) |
| Energy Products | 12,142) | 14,966) | (346) | (2,572) | 2,323) |
| Chemical Products | 1,637) | 3,543) | 6,989) | 2,257) | 592) |
| Specialty Products | 2,714) | 2,415) | 3,259) | 1,201) | —) |
| Corporate and financing | (1,791) | (1,663) | (2,636) | (3,296) | (3,017) |
| Corporate total | 36,010) | 55,740) | 23,041) | (22,440) | 14,340) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Sales and other operating revenue
Exxon Mobil Corp., sales and other operating revenue by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Upstream | 25,574) | 45,164) | 21,797) | 14,549) | 23,143) |
| Energy Products | 268,383) | 305,977) | 208,906) | 133,367) | 204,983) |
| Chemical Products | 22,265) | 27,619) | 28,628) | 17,634) | 27,416) |
| Specialty Products | 18,407) | 19,879) | 17,331) | 12,986) | —) |
| Corporate and financing | 68) | 36) | 30) | 38) | 41) |
| Corporate total | 334,697) | 398,675) | 276,692) | 178,574) | 255,583) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Depreciation and depletion expense
Exxon Mobil Corp., depreciation and depletion expense by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Upstream | 16,600) | 19,804) | 16,749) | 41,350) | 15,467) |
| Energy Products | 1,562) | 1,987) | 1,736) | 2,201) | 1,506) |
| Chemical Products | 1,311) | 988) | 955) | 1,068) | 1,176) |
| Specialty Products | 315) | 288) | 292) | 498) | —) |
| Corporate and financing | 853) | 973) | 875) | 892) | 849) |
| Corporate total | 20,641) | 24,040) | 20,607) | 46,009) | 18,998) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Additions to property, plant and equipment
Exxon Mobil Corp., additions to property, plant and equipment by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Upstream | 18,589) | 12,381) | 8,616) | 10,144) | 17,751) |
| Energy Products | 2,561) | 2,105) | 1,853) | 4,383) | 4,462) |
| Chemical Products | 2,375) | 2,718) | 1,250) | 1,704) | 1,933) |
| Specialty Products | 451) | 237) | 164) | 440) | —) |
| Corporate and financing | 5,062) | 897) | 658) | 671) | 758) |
| Corporate total | 29,038) | 18,338) | 12,541) | 17,342) | 24,904) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Total assets
Exxon Mobil Corp., total assets by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Upstream | 206,366) | 206,459) | 209,272) | 216,017) | 246,931) |
| Energy Products | 74,460) | 73,565) | 64,630) | 56,758) | 60,575) |
| Chemical Products | 34,675) | 33,217) | 31,250) | 29,182) | 36,920) |
| Specialty Products | 10,999) | 11,155) | 10,908) | 10,721) | —) |
| Corporate and financing | 49,817) | 44,671) | 22,863) | 20,072) | 18,171) |
| Corporate total | 376,317) | 369,067) | 338,923) | 332,750) | 362,597) |
Based on: 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), 10-K (reporting date: 2019-12-31).