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EX-99.1 - NEWS RELEASE - EXXON MOBIL CORPf8k1q991.htm
8-K - FORM 8-K - EXXON MOBIL CORPr8k050120.htm

 

EXXON MOBIL CORPORATION

 

 

 

EXHIBIT 99.2

 

 

 

 

 

 

 

 

 

To assist investors in assessing 1Q20 results, the following disclosures have been made available in this 8-K filing:

 

- Identified items of ($0.67) per share assuming dilution, as noted in the first paragraph on page 1 of the news release

 

- A reconciliation of cash flow from operations and asset sales excluding working capital on page 1 of this exhibit and on

 

  page 6 and attachment V of the news release

 

1Q20 INVESTOR RELATIONS DATA SUMMARY (PAGE 1 of 4)

  

   

 

 

 

 

 

 

 

Earnings (Loss), $M

1Q20

4Q19

3Q19

2Q19

1Q19

Upstream

 

 

 

 

 

 

United States

 

(704)

68

37

335

96

 

Non-U.S.

 

1,240

6,069

2,131

2,926

2,780

 

Total

 

536

6,137

2,168

3,261

2,876

Downstream

 

 

 

 

 

 

United States

 

(101)

895

673

310

(161)

 

Non-U.S.

 

(510)

3

557

141

(95)

 

Total

 

(611)

898

1,230

451

(256)

Chemical

 

 

 

 

 

 

United States

 

288

(2)

53

(6)

161

 

Non-U.S.

 

(144)

(353)

188

194

357

 

Total

 

144

(355)

241

188

518

  

 

 

 

 

 

 

 

 

Corporate and financing

(679)

(990)

(469)

(770)

(788)

Net income (loss) attributable to ExxonMobil (U.S. GAAP)

(610)

5,690

3,170

3,130

2,350

   

 

 

 

 

 

 

 

 

Earnings (Loss) per common share (U.S. GAAP)  

(0.14)

1.33

0.75

0.73

0.55

Earnings (Loss) per common share

 

 

 

 

 

 - assuming dilution (U.S. GAAP)

(0.14)

1.33

0.75

0.73

0.55

 

 

 

 

 

 

 

 

 

Exploration expenses, including dry holes

288

357

299

333

280

 

 

 

 

 

 

 

 

 

Capital and Exploration Expenditures, $M

 

 

 

 

 

Upstream

 

 

 

 

 

 

United States

 

2,798

2,848

3,002

3,255

2,548

 

Non-U.S.

 

2,328

3,243

2,789

2,987

2,813

 

Total

 

5,126

6,091

5,791

6,242

5,361

Downstream

 

 

 

 

 

 

United States

 

747

725

590

624

414

 

Non-U.S.

 

487

635

479

489

415

 

Total

 

1,234

1,360

1,069

1,113

829

Chemical

 

 

 

 

 

 

United States

 

597

786

656

553

552

 

Non-U.S.

 

185

213

196

165

144

 

Total

 

782

999

852

718

696

Other

1

10

7

6

4

  

 

 

 

  

  

  

  

  

Total Capital and Exploration Expenditures

7,143

8,460

7,719

8,079

6,890

 

 

 

 

 

 

 

 

 

Effective Income Tax Rate, %

481%

20%

37%

34%

53%

 

 

 

 

 

 

 

 

 

Common Shares Outstanding, millions

 

 

 

 

 

 

At quarter end

4,228

4,234

4,231

4,231

4,231

 

Average - assuming dilution

4,270

4,269

4,271

4,271

4,270

  

 

 

 

 

 

 

 

 

Total Cash and Cash Equivalents, $B

11.4

3.1

5.4

4.2

4.6

 

 

 

 

 

 

 

 

 

Total Debt, $B

59.6

46.9

47.1

45.2

40.8

 

 

 

 

 

 

 

 

 

Cash Flow from Operations and Asset Sales, $M

 

 

 

 

 

 

Net cash provided by operating activities

6,274

6,352

9,079

5,947

8,338

 

Proceeds associated with asset sales

86

3,092

460

33

107

 

Cash flow from operations and asset sales

6,360

9,444

9,539

5,980

8,445

 

Changes in operational working capital

942

1,641

(1,550)

1,243

(2,257)

 

Cash flow from operations and asset sales

7,302

11,085

7,989

7,223

6,188

 

excluding working capital

 

 

 

 

 

  

 


 

EXXON MOBIL CORPORATION

 

 

 

 

 

 

 

 

 

1Q20 INVESTOR RELATIONS DATA SUMMARY (PAGE 2 of 4)

 

  

 

 

 

 

 

 

 

Net production of crude oil, natural gas

1Q20

4Q19

3Q19

2Q19

1Q19

liquids, bitumen and synthetic oil, kbd

 

 

 

 

 

 

United States

 

699

665

654

662

600

 

Canada / Other Americas

 

558

487

464

469

454

 

Europe

 

30

93

113

103

121

 

Africa

 

360

366

371

383

369

 

Asia

 

795

780

738

727

746

 

Australia / Oceania

 

38

45

52

45

37

Total liquids production

2,480

2,436

2,392

2,389

2,327

 

 

 

 

 

 

 

 

 

Natural gas production available for sale, mcfd

 

 

 

 

 

 

United States

 

2,825

2,713

2,883

2,803

2,712

 

Canada / Other Americas

 

317

287

254

249

238

 

Europe

 

1,293

1,508

1,004

1,215

2,113

 

Africa

 

7

10

7

5

7

 

Asia

 

3,710

3,753

3,433

3,461

3,655

 

Australia / Oceania

 

1,244

1,224

1,464

1,387

1,199

Total natural gas production available for sale

9,396

9,495

9,045

9,120

9,924

 

 

 

 

 

 

 

 

 

Total worldwide liquids and gas production, koebd 1

4,046

4,018

3,899

3,909

3,981

 

 

 

 

 

 

 

 

 

Refinery throughput, kbd

 

 

 

 

 

 

 

United States

 

1,558

1,675

1,647

1,430

1,373

 

Canada

 

383

322

363

344

383

 

Europe

 

1,295

1,304

1,325

1,314

1,325

 

Asia Pacific

 

637

570

532

683

609

 

Other Non-U.S.

 

187

182

185

159

196

Total refinery throughput

 

4,060

4,053

4,052

3,930

3,886

 

 

 

 

 

 

 

 

 

Petroleum product sales, kbd

 

 

 

 

 

 

 

United States

 

2,231

2,356

2,336

2,264

2,210

 

Canada

 

456

444

492

482

484

 

Europe

 

1,403

1,456

1,508

1,443

1,510

 

Asia Pacific

 

708

729

700

775

749

 

Other Non-U.S.

 

489

497

468

444

462

Total petroleum product sales

 

5,287

5,482

5,504

5,408

5,415

 

 

 

 

 

 

 

 

 

 

Gasolines, naphthas

 

2,122

2,276

2,255

2,198

2,149

 

Heating oils, kerosene, diesel

 

1,867

1,903

1,833

1,820

1,914

 

Aviation fuels

 

383

399

445

391

386

 

Heavy fuels

 

256

217

261

308

299

 

Specialty products

 

659

687

710

691

667

Total petroleum product sales

 

5,287

5,482

5,504

5,408

5,415

 

 

 

 

 

 

 

 

 

Chemical prime product sales, kt

 

 

 

 

 

 

United States

 

2,195

2,294

2,216

2,295

2,322

 

Non-U.S.

 

4,042

4,275

4,260

4,404

4,450

Total chemical prime product sales

6,237

6,569

6,476

6,699

6,772

 

 

 

 

 

 

 

 

 

1 Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.

 


 

EXXON MOBIL CORPORATION

 

 

 

 

 

 

 

1Q20 INVESTOR RELATIONS DATA SUMMARY (PAGE 3 of 4)

 

 

 

 

 

 

 

Earnings Factor Analysis, $M

1Q20 vs. 1Q19

 

1Q20 vs. 4Q19

Upstream

 

 

 

 

Prior Period

2,876

 

6,137

 

 

Realization

-2,020

 

-1,720

 

 

Volume / Mix

220

 

240

 

 

Other

-540

 

-4,120

 

 

 

Identified Items

-620

 

-4,570

 

 

 

Other

80

 

450

 

Current Period

536

 

536

Downstream

 

 

 

 

Prior Period

-256

 

898

 

 

Margin

1,260

 

920

 

 

Volume / Mix

390

 

-130

 

 

 

Manufacturing (Volume / Mix)

440

 

-20

 

 

 

Market Demand (Volume / Mix)

-50

 

-110

 

 

Other

-2,010

 

-2,300

 

 

 

Manufacturing (Other)

80

 

-

 

 

 

Supply Chain and Marketing Expenses (Other)

-60

 

300

 

 

 

Identified Items

-1,940

 

-1,940

 

 

 

LIFO Inventory Impact

-

 

-540

 

 

 

Forex/Other

-90

 

-120

 

Current Period

-611

 

-611

Chemical

 

 

 

 

Prior Period

518

 

-355

 

 

Margin

10

 

540

 

 

Volume / Mix

-60

 

-

 

 

Other

-320

 

-40

 

 

 

Identified Items

-320

 

-320

 

 

 

Expenses

-50

 

250

 

 

 

Other

50

 

30

 

Current Period

144

 

144

 

 

 

 

 

 

 

Upstream Volume Factor Analysis, koebd

 

 

 

 

Prior Period

3,981

 

4,018

 

 

Downtime / Maintenance

31

 

77

 

 

Growth / Decline

230

 

121

 

 

Entitlements / Divestments

-128

 

-161

 

 

Quotas

-

 

2

 

 

Demand / Other

-68

 

-11

 

Current Period

4,046

 

4,046

 


 

EXXON MOBIL CORPORATION

 

 

 

 

 

 

 

 

1Q20 INVESTOR RELATIONS DATA SUMMARY (PAGE 4 of 4)

 

 

 

 

 

 

 

 

Sources and Uses of Funds, $M

1Q20

 

 

 

 

Beginning Cash

3,089

 

 

 

 

 

Earnings

-610

 

 

 

 

 

Depreciation

5,819

 

 

 

 

 

Noncash inventory adjustment

2,245

 

 

 

 

 

Working Capital / Other

-1,180

 

 

 

 

 

Proceeds Associated with Asset Sales

86

 

 

 

 

 

PP&E Adds / Investments and Advances1

-6,453

 

 

 

 

 

Shareholder Distributions

-3,719

 

 

 

 

 

Debt / Other Financing

12,135

 

 

 

 

Ending Cash

11,412

 

 

 

 

 

 

 

 

 

 

 

 

1 PP&E Adds / Investments and Advances includes PP&E adds of ($5.9B) and net advances of ($0.5B).

 

 

 

 

 

 

 

 

 

Average Realization Data

1Q20

4Q19

3Q19

2Q19

1Q19

United States

 

 

 

 

 

 

ExxonMobil

 

 

 

 

 

 

 

Crude ($/b)

42.82

55.61

54.51

57.95

53.30

 

 

Natural Gas ($/kcf)

1.69

2.16

2.03

2.22

2.93

 

 

 

 

 

 

 

 

 

Benchmarks

 

 

 

 

 

 

 

WTI ($/b)

45.97

56.98

56.44

59.80

54.87

 

 

ANS-WC ($/b)

51.45

64.38

63.03

68.18

64.40

 

 

Henry Hub ($/mbtu)

1.95

2.50

2.23

2.64

3.15

 

 

 

 

 

 

 

 

Non-U.S.

 

 

 

 

 

 

ExxonMobil

 

 

 

 

 

 

 

Crude ($/b)

41.96

56.61

55.92

62.47

57.12

 

 

Natural Gas ($/kcf)

5.60

5.89

5.81

5.84

7.18

 

 

European NG ($/kcf)

4.68

5.15

4.37

5.10

6.85

 

 

 

 

 

 

 

 

 

Benchmarks

 

 

 

 

 

 

 

Brent ($/b)

50.26

63.26

61.94

68.83

63.20

 

 

 

 

 

 

 

 

The above numbers reflect ExxonMobil’s current estimate of volumes and realizations given data available as of the end of the first quarter of 2020. Volumes and realizations may be adjusted when full statements on joint venture operations are received from outside operators.  ExxonMobil management assumes no duty to update these estimates.