What changed in this filing

/stocks — the workspaceLOADING

Item 1. Financial Statements

2025-08-04 compared with 2025-05-05 · 226 added, 35 removed, 487 unchanged (35% of the section changed)

3 unchanged sentences

Three Months Ended

June 30, Six Months Ended

2025 2024 2025 2024

Revenues and other income

9 unchanged sentences

Exploration expenses, including dry holes (1)

251 153 315 301

Non-service pension and postretirement benefit expense 90 34 203 57

8 unchanged sentences

Earnings (loss) per common share (dollars)

1.64 2.14 3.40 4.20

Earnings (loss) per common share - assuming dilution (dollars)

1.64 2.14 3.40 4.20

(1) Includes $ 40 million related to the write-off of exploratory well costs in 2025 that were previously capitalized for greater than one year at December 31, 2024.

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.

1 unchanged sentence

(millions of dollars) Three Months Ended

June 30, Six Months Ended

2025 2024 2025 2024

Net income (loss) including noncontrolling interests 7,354 9,571 15,387 18,137

10 unchanged sentences

(millions of dollars, unless noted)

March 31, 2025 December 31, 2024

June 30, 2025 December 31, 2024

Current assets

28 unchanged sentences

Common stock held in treasury

( 3,709 million shares at March 31, 2025 and

( 3,756 million shares at June 30, 2025 and

3,666 million shares at December 31, 2024)

6 unchanged sentences

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(millions of dollars) Three Months Ended March 31,

(millions of dollars) Six Months Ended June 30,

CASH FLOWS FROM OPERATING ACTIVITIES

9 unchanged sentences

Other investing activities including collection of advances 339 224

Cash acquired from mergers and acquisitions — 754

Net cash used in investing activities ( 10,315 ) ( 9,446 )

2 unchanged sentences

Reductions in long-term debt ( 13 ) ( 1,142 )

Additions to short-term debt

Reductions in short-term debt

1 unchanged sentence

Additions/(reductions) in debt with three months or less maturity 257 ( 6 )

Contingent consideration payments ( 79 ) ( 27 )

Cash dividends to ExxonMobil shareholders ( 8,623 ) ( 8,093 )

21 unchanged sentences

(millions of dollars, unless noted)

Common Stock Earnings Reinvested Accumulated Other Comprehensive Income Common Stock Held in Treasury ExxonMobil Share of Equity Non-controlling Interests Total Equity

Balance as of March 31, 2024 17,971 458,339 ( 13,169 ) ( 257,891 ) 205,250 7,802 213,052

Amortization of stock-based awards 178 — — — 178 — 178

Other ( 117 ) — — — ( 117 ) 10 ( 107 )

Net income (loss) for the period — 9,240 — — 9,240 331 9,571

Dividends - common shares — ( 4,285 ) — — ( 4,285 ) ( 231 ) ( 4,516 )

Other comprehensive income (loss) — — ( 18 ) — ( 18 ) ( 51 ) ( 69 )

Share repurchases, at cost — — — ( 5,310 ) ( 5,310 ) — ( 5,310 )

Issued for acquisitions 28,749 — — 34,603 63,352 — 63,352

Dispositions — — — 115 115 — 115

Balance as of June 30, 2024 46,781 463,294 ( 13,187 ) ( 228,483 ) 268,405 7,861 276,266

Balance as of March 31, 2025 46,426 474,290 ( 14,338 ) ( 243,658 ) 262,720 7,086 269,806

Amortization of stock-based awards 220 — — — 220 — 220

Other ( 17 ) ( 23 ) — — ( 40 ) 23 ( 17 )

Net income (loss) for the period — 7,082 — — 7,082 272 7,354

Dividends - common shares — ( 4,288 ) — — ( 4,288 ) ( 311 ) ( 4,599 )

Other comprehensive income (loss) — — 1,902 — 1,902 299 2,201

Share repurchases, at cost — — — ( 5,014 ) ( 5,014 ) — ( 5,014 )

Dispositions — — — 11 11 — 11

Balance as of June 30, 2025 46,629 477,061 ( 12,436 ) ( 248,661 ) 262,593 7,369 269,962

Three Months Ended June 30, 2025

Three Months Ended June 30, 2024

Common Stock Share Activity

(millions of shares)

Issued Held in Treasury Outstanding Issued Held in Treasury Outstanding

Balance as of March 31 8,019 ( 3,709 ) 4,310 8,019 ( 4,076 ) 3,943

Share repurchases, at cost — ( 47 ) ( 47 ) — ( 45 ) ( 45 )

Issued for acquisitions — — — — 545 545

Dispositions — — — — — —

Balance as of June 30 8,019 ( 3,756 ) 4,263 8,019 ( 3,576 ) 4,443

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

ExxonMobil Share of Equity

(millions of dollars, unless noted)

Common Stock Earnings Reinvested Accumulated Other Comprehensive Income Common Stock Held

7 unchanged sentences

Share repurchases, at cost — — — ( 8,288 ) ( 8,288 ) — ( 8,288 )

Issued for acquisitions 28,749 — — 34,603 63,352 — 63,352

Dispositions — — — 119 119 — 119

Balance as of March 31, 2024 17,971 458,339 ( 13,169 ) ( 257,891 ) 205,250 7,802 213,052

Balance as of June 30, 2024 46,781 463,294 ( 13,187 ) ( 228,483 ) 268,405 7,861 276,266

Balance as of December 31, 2024 46,238 470,903 ( 14,619 ) ( 238,817 ) 263,705 6,901 270,606

6 unchanged sentences

Dispositions — — — 22 22 — 22

Balance as of March 31, 2025 46,426 474,290 ( 14,338 ) ( 243,658 ) 262,720 7,086 269,806

Three Months Ended March 31, 2025 Three Months Ended March 31, 2024

Balance as of June 30, 2025 46,629 477,061 ( 12,436 ) ( 248,661 ) 262,593 7,369 269,962

Six Months Ended June 30, 2025 Six Months Ended June 30, 2024

Common Stock Share Activity

3 unchanged sentences

Share repurchases, at cost — ( 90 ) ( 90 ) — ( 73 ) ( 73 )

Issued for acquisitions — — — — 545 545

Dispositions — — — — — —

Balance as of March 31 8,019 ( 3,709 ) 4,310 8,019 ( 4,076 ) 3,943

Balance as of June 30 8,019 ( 3,756 ) 4,263 8,019 ( 3,576 ) 4,443

The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.

11 unchanged sentences

The transaction was accounted for as a business combination in accordance with ASC 805, which requires that assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date.

The following table summarizes the provisional fair values of the assets acquired and liabilities assumed.

The following table summarizes the fair values of the assets acquired and liabilities assumed.

(billions of dollars) Pioneer

17 unchanged sentences

(5) Goodwill was allocated to the Upstream segment.

(6) Provisional fair value measurements were made for assets acquired and liabilities assumed.

Adjustments to those measurements may be made in subsequent periods, up to one year from the date of acquisition, as we continue to evaluate the information necessary to complete the analysis.

Debt Assumed in the Merger

11 unchanged sentences

(1) In June 2024, the Corporation redeemed in full all of the Convertible Senior Notes assumed from Pioneer for an amount consistent with the acquisition date fair value.

Actual and Pro Forma Impact of Merger

The following table presents revenues and earnings included in the Consolidated Statement of Income for Pioneer since the acquisition date (May 3, 2024) through June 30, 2024:

(millions of dollars)

Three Months Ended

June 30, 2024 Six Months Ended

June 30, 2024

Sales and other operating revenues 4,372 4,372

Net income (loss) attributable to ExxonMobil 398 398

The following table presents unaudited pro forma information for the Corporation as if the merger with Pioneer had occurred at the beginning of January 1, 2023:

(millions of dollars)

Three Months Ended

June 30, 2024 Six Months Ended

June 30, 2024

Sales and other operating revenues 92,167 178,557

Net income (loss) attributable to ExxonMobil 9,265 18,256

The historical financial information was adjusted to give effect to the pro forma events that were directly attributable to the merger and factually supportable.

The unaudited pro forma consolidated results are not necessarily indicative of what the consolidated results of operations actually would have been had the merger been completed on January 1, 2023.

In addition, the unaudited pro forma consolidated results reflect pro forma adjustments primarily related to conforming Pioneer's accounting policies to ExxonMobil, additional depreciation expense related to the fair value adjustment of the acquired property, plant and equipment, our capital structure, Pioneer's transaction-related costs, and applicable income tax impacts of the pro forma adjustments.

Our transaction costs to effect the acquisition were immaterial.

Litigation and Other Contingencies

15 unchanged sentences

Other Contingencies

The Corporation and certain of its consolidated subsidiaries were contingently liable at March 31, 2025, for guarantees relating to notes, loans and performance under contracts.

The Corporation and certain of its consolidated subsidiaries were contingently liable at June 30, 2025, for guarantees relating to notes, loans and performance under contracts.

Where guarantees for environmental remediation and other similar matters do not include a stated cap, the amounts reflect management’s estimate of the maximum potential exposure.

Where it is not possible to make a reasonable estimation of the maximum potential amount of future payments, future performance is expected to be either immaterial or have only a remote chance of occurrence.

March 31, 2025

June 30, 2025

(millions of dollars) Equity Company

19 unchanged sentences

Total change in accumulated other comprehensive income ( 1,197 ) ( 1 ) ( 1,198 )

Balance as of March 31, 2024 ( 14,194 ) 1,025 ( 13,169 )

Balance as of June 30, 2024 ( 14,253 ) 1,066 ( 13,187 )

Balance as of December 31, 2024 ( 16,166 ) 1,547 ( 14,619 )

3 unchanged sentences

Total change in accumulated other comprehensive income 2,200 ( 17 ) 2,183

Balance as of March 31, 2025 ( 15,871 ) 1,533 ( 14,338 )

Balance as of June 30, 2025 ( 13,966 ) 1,530 ( 12,436 )

(1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) net of taxes of $( 293 ) million and $ 123 million in 2025 and 2024, respectively.

3 unchanged sentences

Three Months Ended

June 30, Six Months Ended

2025 2024 2025 2024

Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs

5 unchanged sentences

Three Months Ended

June 30, Six Months Ended

2025 2024 2025 2024

Foreign exchange translation adjustment 47 69 106 ( 6 )

4 unchanged sentences

Earnings per common share Three Months Ended

June 30, Six Months Ended

2025 2024 2025 2024

Net income (loss) attributable to ExxonMobil (millions of dollars)

7,082 9,240 14,795 17,460

Weighted-average number of common shares outstanding (millions of shares) (1)

4,331 4,317 4,351 4,158

Earnings (loss) per common share (dollars) (2)

1.64 2.14 3.40 4.20

Dividends paid per common share (dollars)

0.99 0.95 1.98 1.90

(1) Includes restricted shares not vested.

2 unchanged sentences

(millions of dollars) Three Months Ended

June 30, Six Months Ended

2025 2024 2025 2024

Components of net benefit cost

22 unchanged sentences

Financial Instruments and Derivatives

The estimated fair value of financial instruments and derivatives at March 31, 2025 and December 31, 2024, and the related hierarchy level for the fair value measurement was as follows:

March 31, 2025

The estimated fair value of financial instruments and derivatives at June 30, 2025 and December 31, 2024, and the related hierarchy level for the fair value measurement was as follows:

June 30, 2025

(millions of dollars) Level 1 Level 2 Level 3 Total Gross Assets

49 unchanged sentences

Includes contingent consideration related to a prior year acquisition where fair value is based on expected drilling activities and discount rates.

At March 31, 2025 and December 31, 2024, respectively, the Corporation had $ 538 million and $ 491 million of collateral under master netting arrangements not offset against the derivatives on the Condensed Consolidated Balance Sheet, primarily related to initial margin requirements.

At June 30, 2025 and December 31, 2024, respectively, the Corporation had $ 849 million and $ 491 million of collateral under master netting arrangements not offset against the derivatives on the Condensed Consolidated Balance Sheet, primarily related to initial margin requirements.

The Corporation may use non-derivative financial instruments, such as its foreign currency-denominated debt, as hedges of its net investments in certain foreign subsidiaries.

Under this method, the change in the carrying value of the financial instruments due to foreign exchange fluctuations is reported in accumulated other comprehensive income.

As of March 31, 2025, the Corporation has designated $ 3.2 billion of its Euro-denominated debt and related accrued interest as a net investment hedge of its European business.

As of June 30, 2025, the Corporation has designated $ 3.5 billion of its Euro-denominated debt and related accrued interest as a net investment hedge of its European business.

The net investment hedge is deemed to be perfectly effective.

The Corporation had undrawn short-term committed lines of credit of $ 0.2 billion and undrawn long-term committed lines of credit of $ 1.0 billion as of the end of first quarter 2025.

The Corporation had undrawn short-term committed lines of credit of $ 0.2 billion and undrawn long-term committed lines of credit of $ 0.7 billion as of the end of second quarter 2025.

Derivative Instruments

3 unchanged sentences

The Corporation’s commodity derivatives are not accounted for under hedge accounting.

At times, the Corporation also enters into currency and interest rate derivatives, none of which are material to the Corporation’s financial position as of March 31, 2025 and December 31, 2024, or results of operations for the periods ended March 31, 2025 and 2024.

At times, the Corporation also enters into currency and interest rate derivatives, none of which are material to the Corporation’s financial position as of June 30, 2025 and December 31, 2024, or results of operations for the periods ended June 30, 2025 and 2024.

The Corporation operates a program to hedge certain of its fixed-rate debt instruments against changes in fair value due to changes in the designated benchmark interest rate.

3 unchanged sentences

the effects of these changes in fair values are recorded in "Interest expense" in the Consolidated Statement of Income.

This program was not material to the Consolidated Financial Statements as of the end of first quarter 2025.

This program was not material to the Consolidated Financial Statements as of the end of second quarter 2025.

Credit risk associated with the Corporation’s derivative position is mitigated by several factors, including the use of derivative clearing exchanges and the quality of and financial limits placed on derivative counterparties.

The Corporation maintains a system of controls that includes the authorization, reporting, and monitoring of derivative activity.

The net notional long/(short) position of derivative instruments at March 31, 2025 and December 31, 2024, was as follows:

(millions) March 31, 2025 December 31, 2024

The net notional long/(short) position of derivative instruments at June 30, 2025 and December 31, 2024, was as follows:

(millions) June 30, 2025 December 31, 2024

Crude oil (barrels) — 13

3 unchanged sentences

(millions of dollars) Three Months Ended

June 30, Six Months Ended

2025 2024 2025 2024

Sales and other operating revenue 515 ( 103 ) 534 ( 895 )

3 unchanged sentences

(millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total

Three Months Ended March 31, 2025

Three Months Ended June 30, 2025

Revenues and other income

30 unchanged sentences

(millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total

Three Months Ended March 31, 2025

Three Months Ended June 30, 2025

Additions to property, plant and equipment (3)

3,047 2,022 145 258 161 101 39 50 5,823

As of March 31, 2025

As of June 30, 2025

Investments in equity companies 5,107 19,846 462 983 3,008 2,598 — 793 32,797

1 unchanged sentence

Reconciliation to Corporate Total Segment Total Corporate and Financing Corporate Total

Three Months Ended March 31, 2025

Three Months Ended June 30, 2025

Additions to property, plant and equipment (3)

5,823 532 6,355

As of March 31, 2025

As of June 30, 2025

Investments in equity companies 32,797 ( 140 ) 32,657

10 unchanged sentences

(millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total

Three Months Ended March 31, 2024

Three Months Ended June 30, 2024

Revenues and other income

9 unchanged sentences

2,605 2,710 2,033 2,176 1,194 1,120 467 547 12,852

Depreciation and depletion expense 1,842 2,035 196 189 159 109 22 39 4,591

Depreciation and depletion (includes impairments) 2,792 2,039 197 178 144 110 22 34 5,516

Interest expense 46 18 2 1 — 1 — — 68

17 unchanged sentences

(millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total

Three Months Ended March 31, 2024

Three Months Ended June 30, 2024

Additions to property, plant and equipment (3)

4 unchanged sentences

Reconciliation to Corporate Total Segment Total Corporate and Financing Corporate Total

Three Months Ended March 31, 2024

Three Months Ended June 30, 2024

Additions to property, plant and equipment (3)

12 unchanged sentences

Due to rounding, numbers presented may not add up precisely to the totals indicated.

(millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total

Six Months Ended June 30, 2025

Revenues and other income

Sales and other operating revenue 13,257 7,246 48,957 70,994 3,992 7,085 2,805 6,159 160,495

Income from equity affiliates 9 2,547 72 29 61 269 3 ( 32 ) 2,958

Intersegment revenue 12,786 18,674 9,126 13,184 3,343 1,529 1,100 227 59,969

Other income ( 42 ) 397 82 78 1 2 2 58 578

Segment revenues and other income 26,010 28,864 58,237 84,285 7,397 8,885 3,910 6,412 224,000

Costs and other items

Crude oil and product purchases 9,962 5,267 50,621 68,597 4,290 6,219 2,070 4,104 151,130

Operating expenses, excl.

depreciation and depletion (1)

5,479 4,761 4,022 4,431 2,159 2,278 982 1,126 25,238

Depreciation and depletion (includes impairments) 6,394 3,422 393 343 293 260 54 81 11,240

Interest expense 59 22 ( 1 ) 2 — — — 2 84

Other taxes and duties 113 1,070 1,617 9,306 34 61 3 88 12,292

Total costs and other deductions 22,007 14,542 56,652 82,679 6,776 8,818 3,109 5,401 199,984

Segment income (loss) before income taxes

4,003 14,322 1,585 1,606 621 67 801 1,011 24,016

Income tax expense (benefit) 921 4,930 358 346 111 ( 3 ) 187 183 7,033

Segment net income (loss) incl.

noncontrolling interests 3,082 9,392 1,227 1,260 510 70 614 828 16,983

Net income (loss) attributable to noncontrolling interests — 316 105 189 — 14 1 6 631

Segment income (loss) 3,082 9,076 1,122 1,071 510 56 613 822 16,352

Reconciliation of consolidated revenues

Segment revenues and other income 224,000

Other revenues (2)

Elimination of intersegment revenues ( 59,969 )

Total consolidated revenues and other income 164,636

Reconciliation of income (loss) attributable to ExxonMobil

Total segment income (loss) 16,352

Corporate and Financing income (loss) ( 1,557 )

Net income (loss) attributable to ExxonMobil 14,795

(millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total

Six Months Ended June 30, 2025

Additions to property, plant and equipment (3)

5,827 4,044 261 486 306 218 88 103 11,333

As of June 30, 2025

Investments in equity companies 5,107 19,846 462 983 3,008 2,598 — 793 32,797

Total assets 152,661 134,033 32,412 46,120 17,456 18,433 2,674 8,476 412,265

Reconciliation to Corporate Total Segment Total Corporate and Financing Corporate Total

Six Months Ended June 30, 2025

Additions to property, plant and equipment (3)

11,333 1,051 12,384

As of June 30, 2025

Investments in equity companies 32,797 ( 140 ) 32,657

Total assets 412,265 35,332 447,597

(1) Operating expenses, excl.

depreciation and depletion includes the following GAAP line items, as reflected on the Income Statement:

Production and manufacturing expenses;

Selling, general and administrative expenses;

Exploration expenses, including dry holes;

and Non-service pension and postretirement benefit expense.

(2) Primarily Corporate and Financing Interest revenue of $ 675 million.

(3) Includes non-cash additions.

Due to rounding, numbers presented may not add up precisely to the totals indicated.

(millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total

Six Months Ended June 30, 2024

Revenues and other income

Sales and other operating revenue 8,919 6,843 51,218 82,423 4,407 7,266 3,007 6,265 170,348

Income from equity affiliates ( 84 ) 3,272 70 ( 1 ) 89 374 — ( 21 ) 3,699

Intersegment revenue 11,533 21,023 13,095 13,147 3,815 2,023 1,289 315 66,240

Other income 697 12 122 65 1 5 7 55 964

Segment revenues and other income 21,065 31,150 64,505 95,634 8,312 9,668 4,303 6,614 241,251

Costs and other items

Crude oil and product purchases 7,312 5,021 56,630 79,935 4,473 6,546 2,249 4,592 166,758

Operating expenses, excl.

depreciation and depletion (1)

4,332 5,340 4,047 4,314 2,185 2,180 895 1,082 24,375

Depreciation and depletion (includes impairments) 4,634 4,074 393 367 303 219 44 73 10,107

Interest expense 74 33 3 3 — 1 — 1 115

Other taxes and duties 202 1,300 1,693 9,544 19 39 2 103 12,902

Total costs and other deductions 16,554 15,768 62,766 94,163 6,980 8,985 3,190 5,851 214,257

Segment income (loss) before income taxes 4,511 15,382 1,739 1,471 1,332 683 1,113 763 26,994

Income tax expense (benefit) 1,027 5,779 340 230 302 126 261 94 8,159

Segment net income (loss) incl.

noncontrolling interests 3,484 9,603 1,399 1,241 1,030 557 852 669 18,835

Net income (loss) attributable to noncontrolling interests — 353 113 205 — 23 1 8 703

Segment income (loss) 3,484 9,250 1,286 1,036 1,030 534 851 661 18,132

Reconciliation of consolidated revenue

Segment revenues and other income 241,251

Other revenues (2)

Elimination of intersegment revenues ( 66,240 )

Total consolidated revenues and other income 176,143

Reconciliation of income (loss) attributable to ExxonMobil

Total segment income (loss) 18,132

Corporate and Financing income (loss) ( 672 )

Net income (loss) attributable to ExxonMobil 17,460

(millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total

Six Months Ended June 30, 2024

Additions to property, plant and equipment (3)

88,912 4,138 302 666 204 533 58 122 94,935

As of December 31, 2024

Investments in equity companies 4,884 21,396 444 915 3,016 2,649 — 814 34,118

Total assets 154,914 134,609 32,143 43,399 17,445 17,692 2,882 8,040 411,124

Reconciliation to Corporate Total Segment Total Corporate and Financing Corporate Total

Six Months Ended June 30, 2024

Additions to property, plant and equipment (3)

94,935 943 95,878

As of December 31, 2024

Investments in equity companies 34,118 ( 108 ) 34,010

Total assets 411,124 42,351 453,475

(1) Operating expenses, excl.

depreciation and depletion includes the following GAAP line items, as reflected on the Income Statement:

Production and manufacturing expenses;

Selling, general and administrative expenses;

Exploration expenses, including dry holes;

and Non-service pension and postretirement benefit expense.

(2) Primarily Corporate and Financing Interest revenue of $ 907 million.

(3) Includes non-cash additions.

Due to rounding, numbers presented may not add up precisely to the totals indicated.

Revenue from Contracts with Customers

6 unchanged sentences

Three Months Ended

June 30, Six Months Ended

2025 2024 2025 2024

Revenue from contracts with customers 56,680 64,181 113,611 122,600

3 unchanged sentences

(millions of dollars) Three Months Ended

June 30, Six Months Ended

2025 2024 2025 2024

United States 34,436 36,895 69,043 67,551

4 unchanged sentences

Canada 6,804 8,126 13,794 15,182

United Kingdom 5,840 5,160

Singapore 3,833 4,018

(1) Revenue is determined by primary country of operations.

2 unchanged sentences

Divestment Activities

Through March 31, 2025, the Corporation realized proceeds of approximately $ 1.8 billion and net after-tax earnings of approximately $ 0.2 billion from its divestment activities.

Through June 30, 2025, the Corporation realized proceeds of approximately $ 2.0 billion and net after-tax earnings of approximately $ 0.2 billion from its divestment activities.

This included the sale of select conventional assets in Texas and New Mexico, Mobil Argentina S.A., as well as other smaller divestments.

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements