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2015 Financial & Operating Review

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2015 Financial & Operating Review Financial & Operating Review 2 015 1 2015 Financial & Operating Summary 3 Creating Value Through the Cycle 14 Global Operations 16 Upstream 58 Downstream 72 Chemical 82 Financial Information 90 Frequently Used Terms 94 Index 95 General Information COVER PHOTO: The Joliet, Illinois, refinery is one of the most energy efficient in the United States and benefits from its proximity to advantaged crude oils. Statements of future events or conditions in this report, including projections, targets, expectations, estimates, and business plans, are forward-looking statements. Actual future financial and operating results, including demand growth and energy mix; capacity growth; the impact of new technologies; capital expenditures; production growth; project plans, dates, costs, and capacities; resource additions, production rates, and resource recoveries; efficiency gains; cost savings; and product sales could differ materially due to, for example, changes in oil and gas prices or other market conditions affecting the oil and gas industry; reservoir performance; timely completion of development projects; war and other political or security disturbances; changes in law or government regulation, including environmental regulations and political sanctions; the actions of competitors and customers; unexpected technological developments; general economic conditions, including the occurrence and duration of economic recessions; the outcome of commercial negotiations; the impact of fiscal and commercial terms; unforeseen technical difficulties; unanticipated operational disruptions; and other factors discussed in this report and in Item 1A of ExxonMobil’s most recent Form 10-K. Definitions of “resources” and “resource base,” as well as certain financial and operating measures and other terms used in this report, are contained in the section titled “Frequently Used Terms” on pages 90 through 93. In the case of financial measures, such as “Return on Average Capital Employed” and “Free Cash Flow,” the definitions also include information required by SEC Regulation G. “Factors Affecting Future Results” and “Frequently Used Terms” are also available on the “Investors” section of our website. Prior years’ data have been reclassified in certain cases to conform to the 2015 presentation basis. The term “project” as used in this publication can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. 1 2015 Financial & Operating Summary Financial Highlights Average Return on Capital and Earnings after Capital Average Capital Exploration (millions of dollars, unless noted) Income Taxes Employed(1) Employed (%)(1) Expenditures(1) Upstream 7,101 169,954 4.2 25,407 Downstream 6,557 23,253 28.2 2,613 Chemical 4,418 23,750 18.6 2,843 Corporate and Financing (1,926) (8,202) N.A. 188 Total 16,150 208,755 7.9 31,051 Operating Highlights Liquids production (net, thousands of barrels per day) 2,345 Natural gas production available for sale (net, millions of cubic feet per day) 10,515 Oil-equivalent production(2) (net, thousands of oil-equivalent barrels per day) 4,097 Refinery throughput (thousands of barrels per day) 4,432 Petroleum product sales (thousands of barrels per day) 5,754 Chemical prime product sales(1) (thousands of tonnes) 24,713 Our 2015 results demonstrate the value of our strategy and relentless focus on business fundamentals. We achieved strong safety and environmental performance, and our integrated businesses generated solid cash flow to support our investment program and industry-leading shareholder distributions. We maintain a long-term view of the industry and continue to selectively develop a broad portfolio of attractive opportunities. These investments, along with our ongoing drive to lower costs and improve efficiency, position us to deliver long-term shareholder value. 33rd Consecutive Year of Dividend Growth(3) Total Shareholder Returns (1) ExxonMobil S&P 500 Consumer Price Index(4) ExxonMobil Integrated Oil Competitor Average(5) S&P 500 (dollars per share) (percent per year) 3.00 15 2.50 10 MO RT CK 2.00 A U H This chart P C may contain 1.50 5 old or false F data O N 1.00 R O P T I 0 O S I 0.50 0 –5 ! 1982 1995 2005 2015 3 Years 5 Years 10 Years 20 YearsCHART ! IS IN CHART (1) See Frequently Used Terms on pages 90 through 93. (1) See Frequently Used Terms on pages 90 through 93. (2) Natural gas converted to oil-equivalent at 6 million cubic feet per 1 thousand barrels. (2) Natural gas converted to oil-equivalent at 6 million cubic feet BOTH IS IN (3) S&P 500 and CPI indexed to 1982 Exxon dividend. per 1 thousand barrels. SAR and F&O BOTH (4) CPI based on historical yearly average from the U.S. Bureau of Labor Statistics. (3) S&P 500 and CPI indexed to 1984 Exxon dividend. identical charts but SAR and F&O (5) BP, Chevron, Royal Dutch Shell, and Total. Competitor data estimated on a consistent basis(4) CPI with based ExxonMobil on historical and based yearly onaverage public from information. the U.S. Bureau of Labor Statistics. different versions (5) BP, Chevron, Royal Dutch Shell, and Total. Competitor data estimated on a identical charts, consistent basis with ExxonMobil and based on public information. in separate files due to footnote page #s different footnotes 3.0 AS OF AS OF 2.5 Feb. 18, 2016 Feb. 18, 2016 VERSION CPI VERSION APPROVED BY APPROVED BY 2.0 DATA as of 01/21/2016 S&P Treasurer: Crumm Treasurer: Crumm 1.5 XOM S&P CPI XOM “82” 0.38 0.38 0.38 C F01A 15XOM- C F01B 15XOM- 1.0 “83” 0.39 0.39 0.39 DividendGrowth.ai ShrhldrReturns.ai FILE INFO "84" 0.42 0.41 0.40 FILE INFO 0.5 F01A F01B "85" 0.43 0.43 0.42 IN F&O ON PAGE IN F&O ON PAGE 0.45 0.45 0.43 S05C S05D 0.0 IN SAR ON PAGE IN SAR ON PAGE 0.48 0.48 0.44 DATA as of“15”“14””13”“12””11”“10”“09”050095908584“83”“82” 01/21/2016Note: Note: 0.54 0.53 0.46 0.58 0.60 0.48 XOM Includes linkIntegrated file S&P 500 Includes link file No No "90" 0.62 0.66 0.51 3 Years -0.4 -3.8 15.1 0.67 0.67 0.53 5 Years 4.2 LAST FILE CHANGE0.4 MADE BY 12.6 LAST FILE CHANGE MADE BY Carol Eric Bill Carol Eric Bill 0.71 0.68 0.55 10 Years 5.9 2.4 7.3 0.72 0.69 0.56 20 Years 9.7 NAME 7.2 8.2 NAME 0.73 0.72 0.58 Treasurer: Crumm Treasurer: Crumm CHART CHART OWNER "95" 0.75 0.75 0.59 OWNER 0.78 0.81 0.61 15 Data list is used to drive the black and Data list is used to drive the black and 0.81 0.85 0.62 white chart, which is then used as a S&P 500 white chart, which is then used as a template for the color chart. Bars and lines template for the color chart. Bars and lines 0.82 0.88 0.63 are cut and pasted from the black and are cut and pasted from the black and 0.84 0.91 0.65 white template and are highly accurate. Integrated white template and are highly accurate. 10 However, the color chart is NOT linked to However, the color chart is NOT linked to "00" 0.88 0.89 0.67 the database and is NOT “driven” by the the database and is NOT “driven” by the data; it is a piece of artwork buiilt by a XOM data; it is a piece of artwork buiilt by a 0.91 0.86 0.69 human. Therefore, the editor needs to human. Therefore, the editor needs to thoroughly proof the final artwork, not thoroughly proof the final artwork, not 0.92 0.88 0.70 5 ATTENTION: OWNER ATTENTION: ATTENTION: OWNER ATTENTION: JUST the data list. JUST the data list. 0.98 0.95 0.72 Clark Fertitta • Investor Relations Clark Fertitta • Investor Relations 1.06 1.06 0.73 Exxon Mobil Corporation, Irving, TX Exxon Mobil Corporation, Irving, TX "05" 1.14 1.21 0.76 Office: 972.444.1135 Office: 972.444.1135 0 Cell: 832-803-4316 Cell: 832-803-4316 EDITOR 1.28 1.36 0.78 EDITOR [email protected] [email protected] 1.37 1.51 0.81 Eric Whetstone • Whetstone Design Eric Whetstone • Whetstone Design studio/cell: 214-412-8000 studio/cell: 214-412-8000 1.55 1.55 0.84 -5 3 Years 5 Yearsfax: 817-583-611910 Years 20 Years fax: 817-583-6119 BOOK “09” 1.66 1.22 0.83 BOOK [email protected] [email protected] Carol Zuber-Mallison • ZM Graphics, Inc. Carol Zuber-Mallison • ZM Graphics, Inc. “10” 1.74 1.24 0.85 studio/cell: 214-906-4162 • fax: 817-924-7784 studio/cell: 214-906-4162 • fax: 817-924-7784 ART ”11” 1.85 1.44 0.87 ART [email protected] [email protected] “12” 2.18 1.70 0.89 Usage: Exclusive rights within ExxonMobil Usage: Exclusive rights within ExxonMobil ”13” 2.46 1.90 0.91 “14” 2.70 2.14 0.92 “15” 2.88 2.36 0.92 2 ExxonMobil 2015 Financial & Operating Review 2015Global Upstream Financial Portfolio, & Operating continued Summary Results & Highlights • Strong environmental results and leading safety performance supported by effective risk management • Earnings of $16.2 billion and industry-leading return on average capital employed(1) of 7.9 percent • Cash flow from operations and asset sales(1) of $32.7 billion, demonstrating the resilience of our integrated business • Dividends per share increased 5.8 percent in the second quarter of 2015, the 33rd consecutive year of dividend-per-share increases • Total shareholder distributions(1) of $15.1 billion • Capital and exploration expenditures(1) of $31.1 billion • Proved oil and natural gas reserves(1) additions of 1.0 billion oil-equivalent barrels • Completed six major Upstream projects with working interest production capacity of almost 300 thousand oil-equivalent barrels per day, highlighted by two deepwater projects offshore West Africa and an expansion of the Kearl development in Canada • Progressed construction of a 400-thousand-tonnes-per-year specialty elastomers project in Saudi
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