FINANCIAL STATEMENTS
+Added: The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.
+Added: Due to rounding, numbers presented may not add up precisely to the totals indicated.
CONDENSED CONSOLIDATED STATEMENT OF INCOME
1 unchanged sentence
Three Months Ended
−Removed: September 30, Nine Months Ended
−Removed: September 30,
−Removed: 2025 2024 2025 2024
Revenues and other income
1 unchanged sentence
Income from equity affiliates
−Removed: Other income 696 743 1,966 2,903
Total revenues and other income
5 unchanged sentences
Exploration expenses, including dry holes
−Removed: 149 339 464 640
Non-service pension and postretirement benefit expense
8 unchanged sentences
Earnings (loss) per common share (dollars)
−Removed: 1.76 1.92 5.16 6.12
Earnings (loss) per common share - assuming dilution (dollars)
−Removed: 1.76 1.92 5.16 6.12
−Removed: (1) Includes $ 40 million related to the write-off of exploratory well costs in second quarter 2025 that were previously capitalized for greater than one year at December 31, 2024.
−Removed: The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
−Removed: (millions of dollars) Three Months Ended
−Removed: September 30, Nine Months Ended
−Removed: September 30,
−Removed: 2025 2024 2025 2024
+Added: (millions of dollars)
+Added: Three Months Ended
Net income (loss) including noncontrolling interests
1 unchanged sentence
Foreign exchange translation adjustment
+Added: Adjustment for foreign exchange translation (gain)/loss
+Added: included in net income
Postretirement benefits reserves adjustment (excluding amortization)
−Removed: Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs 6 16 36 42
+Added: Amortization and settlement of postretirement benefits reserves adjustment included in net periodic
+Added: benefit costs
Total other comprehensive income (loss)
2 unchanged sentences
Comprehensive income (loss) attributable to ExxonMobil
−Removed: The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.
CONDENSED CONSOLIDATED BALANCE SHEET
(millions of dollars, unless noted)
−Removed: September 30, 2025 December 31, 2024
+Added: March 31, 2026
+Added: December 31, 2025
Current assets
Cash and cash equivalents
−Removed: Cash and cash equivalents – restricted 55 158
Notes and accounts receivable – net
6 unchanged sentences
Other assets, including intangibles – net
−Removed: Total Assets 454,340 453,475
Current liabilities
9 unchanged sentences
Total Liabilities
−Removed: Commitments and contingencies ( Note 3 )
+Added: Commitments and contingencies
Common stock without par value
( 9,000 million shares authorized, 8,019 million shares issued)
−Removed: 46,808 46,238
Earnings reinvested
1 unchanged sentence
Common stock held in treasury
−Removed: ( 3,802 million shares at September 30, 2025 and
+Added: ( 3,874 million shares at March 31, 2026 and
3,840 million shares at December 31, 2025 )
−Removed: ( 253,832 ) ( 238,817 )
ExxonMobil share of equity
Noncontrolling interests
−Removed: Total Equity 268,223 270,606
Total Liabilities and Equity
−Removed: The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
−Removed: (millions of dollars) Nine Months Ended September 30,
+Added: (millions of dollars)
+Added: Three Months Ended March 31,
CASH FLOWS FROM OPERATING ACTIVITIES
9 unchanged sentences
Other investing activities including collection of advances
−Removed: Cash acquired from mergers and acquisitions — 754
Net cash used in investing activities
2 unchanged sentences
Reductions in long-term debt
−Removed: Additions to short-term debt
Reductions in short-term debt (1)
−Removed: ( 4,815 ) ( 3,835 )
−Removed: Additions/(reductions) in debt with three months or less maturity 1,212 ( 5 )
−Removed: Contingent consideration payments ( 79 ) ( 27 )
+Added: Additions/(reductions) in commercial paper, and debt with three months or less maturity
Cash dividends to ExxonMobil shareholders
9 unchanged sentences
SUPPLEMENTAL DISCLOSURES
−Removed: Income taxes paid 7,848 11,194
Cash interest paid
5 unchanged sentences
Finance leases
−Removed: The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.
−Removed: CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
−Removed: ExxonMobil Share of Equity
−Removed: (millions of dollars, unless noted)
−Removed: Common Stock Earnings Reinvested Accumulated Other Comprehensive Income Common Stock Held in Treasury ExxonMobil Share of Equity Non-controlling Interests Total Equity
−Removed: Balance as of June 30, 2024 46,781 463,294 ( 13,187 ) ( 228,483 ) 268,405 7,861 276,266
−Removed: Amortization of stock-based awards 174 — — — 174 — 174
−Removed: Other ( 19 ) — — — ( 19 ) ( 42 ) ( 61 )
−Removed: Net income (loss) for the period — 8,610 — — 8,610 361 8,971
−Removed: Dividends - common shares — ( 4,240 ) — — ( 4,240 ) ( 183 ) ( 4,423 )
−Removed: Other comprehensive income (loss) — — 1,228 — 1,228 86 1,314
−Removed: Share repurchases, at cost — — — ( 5,568 ) ( 5,568 ) ( 275 ) ( 5,843 )
−Removed: Dispositions — — — 2 2 — 2
−Removed: Balance as of September 30, 2024 46,936 467,664 ( 11,959 ) ( 234,049 ) 268,592 7,808 276,400
−Removed: Balance as of June 30, 2025 46,629 477,061 ( 12,436 ) ( 248,661 ) 262,593 7,369 269,962
−Removed: Amortization of stock-based awards 187 — — — 187 — 187
−Removed: Other ( 8 ) — — — ( 8 ) 664 656
−Removed: Net income (loss) for the period — 7,548 — — 7,548 220 7,768
−Removed: Dividends - common shares — ( 4,242 ) — — ( 4,242 ) ( 151 ) ( 4,393 )
−Removed: Other comprehensive income (loss) — — ( 346 ) — ( 346 ) ( 110 ) ( 456 )
−Removed: Share repurchases, at cost — — — ( 5,171 ) ( 5,171 ) ( 330 ) ( 5,501 )
−Removed: Balance as of September 30, 2025 46,808 480,367 ( 12,782 ) ( 253,832 ) 260,561 7,662 268,223
−Removed: Three Months Ended September 30, 2025
−Removed: Three Months Ended September 30, 2024
−Removed: Common Stock Share Activity
−Removed: (millions of shares)
−Removed: Issued Held in Treasury Outstanding Issued Held in Treasury Outstanding
−Removed: Balance as of June 30 8,019 ( 3,756 ) 4,263 8,019 ( 3,576 ) 4,443
−Removed: Share repurchases, at cost — ( 46 ) ( 46 ) — ( 48 ) ( 48 )
−Removed: Issued for acquisitions — — — — — —
−Removed: Dispositions — — — — — —
−Removed: Balance as of September 30 8,019 ( 3,802 ) 4,217 8,019 ( 3,624 ) 4,395
−Removed: The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.
+Added: (1) Includes commercial paper with a maturity greater than three months.
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
1 unchanged sentence
(millions of dollars, unless noted)
−Removed: Common Stock Earnings Reinvested Accumulated Other Comprehensive Income Common Stock Held
−Removed: in Treasury ExxonMobil Share of Equity Non-controlling Interests Total
+Added: Comprehensive
Balance as of December 31, 2024
Amortization of stock-based awards
−Removed: Other ( 143 ) — — — ( 143 ) ( 26 ) ( 169 )
Net income (loss) for the period
2 unchanged sentences
Share repurchases, at cost
−Removed: Issued for acquisitions 28,749 — — 34,603 63,352 — 63,352
−Removed: Dispositions — — — 121 121 — 121
−Removed: Balance as of September 30, 2024 46,936 467,664 ( 11,959 ) ( 234,049 ) 268,592 7,808 276,400
+Added: Balance as of March 31, 2025
Balance as of December 31, 2025
Amortization of stock-based awards
−Removed: Other ( 31 ) ( 14 ) — — ( 45 ) 683 638
Net income (loss) for the period
2 unchanged sentences
Share repurchases, at cost
−Removed: Dispositions — — — 22 22 — 22
−Removed: Balance as of September 30, 2025 46,808 480,367 ( 12,782 ) ( 253,832 ) 260,561 7,662 268,223
−Removed: Nine Months Ended September 30, 2025 Nine Months Ended September 30, 2024
+Added: Balance as of March 31, 2026
+Added: Three Months Ended March 31, 2026
+Added: Three Months Ended March 31, 2025
Common Stock Share Activity
(millions of shares)
−Removed: Issued Held in Treasury Outstanding Issued Held in Treasury Outstanding
Balance as of December 31
Share repurchases, at cost
−Removed: Issued for acquisitions — — — — 545 545
−Removed: Dispositions — — — — — —
−Removed: Balance as of September 30 8,019 ( 3,802 ) 4,217 8,019 ( 3,624 ) 4,395
−Removed: The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements.
+Added: Balance as of March 31
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
+Added: Due to rounding, numbers presented may not add up precisely to the totals indicated.
Basis of Financial Statement Preparation
−Removed: These unaudited Condensed Consolidated Financial Statements should be read in the context of the Consolidated Financial Statements and notes thereto filed with the Securities and Exchange Commission in the Corporation's 2024 Annual Report on Form 10-K.
−Removed: In the opinion of the Corporation, the information furnished herein reflects all known accruals and adjustments necessary for a fair statement of the results for the periods reported herein.
−Removed: All such adjustments are of a normal recurring nature.
−Removed: The Corporation's exploration and production activities are accounted for under the "successful efforts" method.
−Removed: Mergers and Acquisitions
−Removed: During the third quarter of 2025, the Corporation completed $ 2.4 billion in acquisitions consisting primarily of proved and unproved acreage in the Permian basin.
−Removed: One of the acquisitions was partially funded by restricted cash as it qualified as a like-kind exchange.
−Removed: We accounted for these acquisitions as business combinations and allocated substantially all of their fair values to "Property, plant and equipment" on the Consolidated Balance Sheet.
−Removed: We did not recognize any goodwill associated with the acquisitions.
−Removed: Consideration paid was reflected in the Condensed Consolidated Statement of Cash Flows mainly in the line item “Additions to property, plant, and equipment”.
−Removed: Pioneer Natural Resources Company
−Removed: On May 3, 2024, the Corporation acquired Pioneer Natural Resources Company ("Pioneer"), an independent oil and gas exploration and production company.
−Removed: In connection with the acquisition, we issued 545 million shares of ExxonMobil common stock having a fair value of $ 63 billion on the acquisition date, and assumed debt with a fair value of $ 5 billion.
−Removed: 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.
−Removed: The following table summarizes the fair values of the assets acquired and liabilities assumed.
−Removed: (billions of dollars) Pioneer
−Removed: Current assets (1)
−Removed: Other non-current assets 1
−Removed: Property, plant & equipment (2)
−Removed: Total identifiable assets acquired 88
−Removed: Current liabilities (1)
−Removed: Long-term debt (3)
−Removed: Deferred income tax liabilities (4)
−Removed: Other non-current liabilities 2
−Removed: Total liabilities assumed 26
−Removed: Net identifiable assets acquired 62
−Removed: Net assets 63
−Removed: (1) Current assets and current liabilities consist primarily of accounts receivable and payable, with their respective fair values approximating historical values given their short-term duration, expectation of insignificant bad debt expense, and our credit rating.
−Removed: (2) Property, plant and equipment, of which a significant portion relates to crude oil and natural gas properties, was primarily valued using the income approach.
−Removed: Significant inputs and assumptions used in the income approach included estimates for commodity prices, future oil and gas production volumes, drilling and development costs, and risk-adjusted discount rates.
−Removed: Collectively, these inputs are level 3 inputs.
−Removed: (3) Long-term debt was valued using market prices as of the acquisition date, which reflects the use of level 1 inputs.
−Removed: (4) Deferred income taxes represent the tax effects of differences in the tax basis and acquisition date fair values of assets acquired and liabilities assumed.
−Removed: (5) Goodwill was allocated to the Upstream segment.
−Removed: Debt Assumed in the Merger
−Removed: The following table presents long-term debt assumed at closing:
−Removed: (millions of dollars)
−Removed: Par Value Fair Value
−Removed: as of May 2, 2024
−Removed: 0.250 % Convertible Senior Notes due May 2025 (1)
−Removed: 1.125 % Senior Notes due January 2026
−Removed: 5.100 % Senior Notes due March 2026
−Removed: 7.200 % Senior Notes due January 2028
−Removed: 4.125 % Senior Notes due February 2028
−Removed: 1.900 % Senior Notes due August 2030
−Removed: 2.150 % Senior Notes due January 2031
−Removed: (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.
−Removed: Actual and Pro Forma Impact of Merger
−Removed: The following table presents revenues and earnings included in the Consolidated Statement of Income for Pioneer since the acquisition date (May 3, 2024) through September 30, 2024:
−Removed: (millions of dollars)
−Removed: Three Months Ended
−Removed: September 30, 2024 Nine Months Ended
−Removed: September 30, 2024
−Removed: Sales and other operating revenues 6,291 10,663
−Removed: Net income (loss) attributable to ExxonMobil 615 1,013
−Removed: 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:
−Removed: (millions of dollars)
−Removed: Three Months Ended
−Removed: September 30, 2024 Nine Months Ended
−Removed: September 30, 2024
−Removed: Sales and other operating revenues 87,792 266,349
−Removed: Net income (loss) attributable to ExxonMobil 8,610 26,866
−Removed: The historical financial information was adjusted to give effect to the pro forma events that were directly attributable to the merger and factually supportable.
−Removed: 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.
−Removed: 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.
−Removed: Our transaction costs to effect the acquisition were immaterial.
−Removed: Litigation and Other Contingencies
−Removed: A variety of claims have been made against ExxonMobil and certain of its consolidated subsidiaries in a number of pending lawsuits.
−Removed: Management has regular litigation reviews, including updates from corporate and outside counsel, to assess the need for accounting recognition or disclosure of these contingencies.
−Removed: The Corporation accrues an undiscounted liability for those contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated.
−Removed: If a range of amounts can be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the range is accrued.
−Removed: The Corporation does not record liabilities when the likelihood that the liability has been incurred is probable but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote.
−Removed: For contingencies where an unfavorable outcome is reasonably possible and which are significant, the Corporation discloses the nature of the contingency and, where feasible, an estimate of the possible loss.
−Removed: For purposes of our contingency disclosures, “significant” includes material matters, as well as other matters, which management believes should be disclosed.
−Removed: State and local governments and other entities in various jurisdictions across the United States and its territories have filed a number of legal proceedings against several oil and gas companies, including ExxonMobil, requesting unprecedented legal and equitable relief for various alleged injuries purportedly connected to climate change.
−Removed: These lawsuits assert a variety of novel, untested claims under statutory and common law.
−Removed: Additional such lawsuits may be filed.
−Removed: We believe the legal and factual theories set forth in these proceedings are meritless and represent an inappropriate attempt to use the court system to usurp the proper role of policymakers in addressing the societal challenges of climate change.
−Removed: Local governments in Louisiana have filed unprecedented legal proceedings against a number of oil and gas companies, including ExxonMobil, requesting compensation for the restoration of coastal marsh erosion in the state.
−Removed: We believe the factual and legal theories set forth in these proceedings are meritless.
−Removed: While the outcome of any litigation can be unpredictable, we believe the likelihood is remote that the ultimate outcomes of these lawsuits will have a material adverse effect on the Corporation’s operations, financial condition, or financial statements taken as a whole.
−Removed: We will continue to defend vigorously against these claims.
−Removed: Other Contingencies
−Removed: The Corporation and certain of its consolidated subsidiaries were contingently liable at September 30, 2025, for guarantees relating to notes, loans and performance under contracts.
−Removed: 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.
−Removed: 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.
−Removed: September 30, 2025
−Removed: (millions of dollars) Equity Company
−Removed: Obligations (1)
−Removed: Other Third-Party Obligations Total
−Removed: Debt-related — 47 47
−Removed: Other 670 6,157 6,827
−Removed: Total 670 6,204 6,874
−Removed: (1) ExxonMobil share.
−Removed: Additionally, the Corporation and its affiliates have numerous long-term sales and purchase commitments in their various business activities, all of which are expected to be fulfilled with no adverse consequences material to the Corporation’s operations or financial condition.
−Removed: Other Comprehensive Income Information
−Removed: ExxonMobil Share of Accumulated Other
−Removed: Comprehensive Income
−Removed: (millions of dollars)
−Removed: Cumulative Foreign
−Removed: Adjustment Postretirement
−Removed: Benefits Reserves
−Removed: Adjustment Total
−Removed: Balance as of December 31, 2023 ( 13,056 ) 1,067 ( 11,989 )
−Removed: Current period change excluding amounts reclassified from accumulated other comprehensive income (1)
−Removed: 32 ( 34 ) ( 2 )
−Removed: Amounts reclassified from accumulated other comprehensive income — 32 32
−Removed: Total change in accumulated other comprehensive income 32 ( 2 ) 30
−Removed: Balance as of September 30, 2024 ( 13,024 ) 1,065 ( 11,959 )
−Removed: Balance as of December 31, 2024 ( 16,166 ) 1,547 ( 14,619 )
−Removed: Current period change excluding amounts reclassified from accumulated other comprehensive income (1)
−Removed: 1,851 ( 49 ) 1,802
−Removed: Amounts reclassified from accumulated other comprehensive income — 35 35
−Removed: Total change in accumulated other comprehensive income 1,851 ( 14 ) 1,837
−Removed: Balance as of September 30, 2025 ( 14,315 ) 1,533 ( 12,782 )
−Removed: (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) net of taxes of $( 300 ) million and $ 8 million in 2025 and 2024, respectively.
−Removed: Amounts Reclassified Out of Accumulated Other
−Removed: Comprehensive Income - Before-tax Income/(Expense)
−Removed: (millions of dollars)
−Removed: Three Months Ended
−Removed: September 30, Nine Months Ended
−Removed: September 30,
−Removed: 2025 2024 2025 2024
−Removed: Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs
−Removed: (Statement of Income line:
−Removed: Non-service pension and postretirement benefit expense) ( 5 ) ( 21 ) ( 42 ) ( 55 )
−Removed: Income Tax (Expense)/Credit For
−Removed: Components of Other Comprehensive Income
−Removed: (millions of dollars)
−Removed: Three Months Ended
−Removed: September 30, Nine Months Ended
−Removed: September 30,
−Removed: 2025 2024 2025 2024
−Removed: Foreign exchange translation adjustment 40 90 146 84
−Removed: Postretirement benefits reserves adjustment (excluding amortization) ( 6 ) 30 32 24
−Removed: Amortization and settlement of postretirement benefits reserves adjustment included in net periodic benefit costs 1 ( 5 ) ( 6 ) ( 13 )
−Removed: Total 35 115 172 95
+Added: These unaudited Condensed Consolidated Financial Statements should be read in the context of the Consolidated Financial
+Added: Statements and notes thereto filed with the Securities and Exchange Commission in the Corporation's 2025 Annual Report on
+Added: In the opinion of the Corporation, the information furnished herein reflects all known accruals and adjustments
+Added: necessary for a fair statement of the results for the periods reported herein.
+Added: All such adjustments are of a normal recurring
+Added: The Corporation's exploration and production activi ties are accounted for under the "successful efforts" method.
Earnings Per Share
−Removed: Earnings per common share Three Months Ended
−Removed: September 30, Nine Months Ended
−Removed: September 30,
−Removed: 2025 2024 2025 2024
+Added: Earnings per common share
+Added: Three Months Ended
Net income (loss) attributable to ExxonMobil (millions of dollars)
−Removed: 7,548 8,610 22,343 26,070
Weighted-average number of common shares outstanding (millions of shares) (1)
−Removed: 4,285 4,462 4,328 4,260
Earnings (loss) per common share (dollars) (2)
−Removed: 1.76 1.92 5.16 6.12
Dividends paid per common share (dollars)
−Removed: 0.99 0.95 2.97 2.85
(1) Includes restricted shares not vested.
(2) Earnings (loss) per common share and earnings (loss) per common share – assuming dilution are the same in each period shown.
−Removed: Pension and Other Postretirement Benefits
−Removed: (millions of dollars) Three Months Ended
−Removed: September 30, Nine Months Ended
−Removed: September 30,
−Removed: 2025 2024 2025 2024
−Removed: Components of net benefit cost
−Removed: Pension Benefits - U.S.
−Removed: Service cost 121 135 395 365
−Removed: Interest cost 170 168 511 504
−Removed: Expected return on plan assets ( 149 ) ( 181 ) ( 447 ) ( 543 )
−Removed: Amortization of actuarial loss/(gain) 18 20 55 62
−Removed: Amortization of prior service cost ( 8 ) ( 7 ) ( 23 ) ( 23 )
−Removed: Net pension enhancement and curtailment/settlement cost 11 13 62 30
−Removed: Net benefit cost 163 148 553 395
−Removed: Pension Benefits - Non-U.S.
−Removed: Service cost 83 85 243 254
−Removed: Interest cost 208 203 635 628
−Removed: Expected return on plan assets ( 207 ) ( 235 ) ( 634 ) ( 726 )
−Removed: Amortization of actuarial loss/(gain) 10 25 28 74
−Removed: Amortization of prior service cost 15 12 43 37
−Removed: Net pension enhancement and curtailment/settlement cost 31 — 31 —
−Removed: Net benefit cost 140 90 346 267
−Removed: Other Postretirement Benefits
−Removed: Service cost 14 22 61 59
−Removed: Interest cost 65 62 196 187
−Removed: Expected return on plan assets ( 4 ) ( 5 ) ( 12 ) ( 15 )
−Removed: Amortization of actuarial loss/(gain) ( 26 ) ( 26 ) ( 77 ) ( 78 )
−Removed: Amortization of prior service cost ( 15 ) ( 16 ) ( 46 ) ( 47 )
−Removed: Net benefit cost 34 37 122 106
−Removed: Financial Instruments and Derivatives
−Removed: The estimated fair value of financial instruments and derivatives at September 30, 2025 and December 31, 2024, and the related hierarchy level for the fair value measurement was as follows:
−Removed: September 30, 2025
−Removed: (millions of dollars) Fair Value
−Removed: Level 1 Level 2 Level 3 Total Gross Assets
−Removed: & Liabilities Effect of
−Removed: Counterparty Netting Effect of
−Removed: Netting Difference in Carrying Value and Fair Value Net
−Removed: Derivative assets (1)
−Removed: 6,312 1,602 — 7,914 ( 7,037 ) ( 141 ) — 736
−Removed: Advances to/receivables from equity companies (2)(6)
−Removed: — 1,931 4,847 6,778 — — 258 7,036
−Removed: Other long-term financial assets (3)
−Removed: 1,508 — 1,559 3,067 — — 250 3,317
−Removed: Derivative liabilities (4)
−Removed: 6,381 1,388 — 7,769 ( 7,037 ) ( 213 ) — 519
−Removed: Long-term debt (5)
−Removed: 25,221 2,811 — 28,032 — — 2,726 30,758
−Removed: Long-term obligations to equity companies (6)
−Removed: — — 1,181 1,181 — — ( 36 ) 1,145
−Removed: Other long-term financial liabilities (7)
−Removed: — — 406 406 — — 13 419
−Removed: December 31, 2024
−Removed: (millions of dollars) Fair Value
−Removed: Level 1 Level 2 Level 3 Total Gross Assets
−Removed: & Liabilities Effect of
−Removed: Counterparty Netting Effect of
−Removed: Netting Difference in Carrying Value and Fair Value Net
−Removed: Derivative assets (1)
−Removed: 3,223 1,206 — 4,429 ( 3,913 ) ( 3 ) — 513
−Removed: Advances to/receivables from equity companies (2)(6)
−Removed: — 2,466 4,167 6,633 — — 451 7,084
−Removed: Other long-term financial assets (3)
−Removed: 1,468 — 1,504 2,972 — — 247 3,219
−Removed: Derivative liabilities (4)
−Removed: 3,561 1,416 — 4,977 ( 3,913 ) ( 341 ) — 723
−Removed: Long-term debt (5)
−Removed: 28,884 1,813 — 30,697 — — 3,935 34,632
−Removed: Long-term obligations to equity companies (6)
−Removed: — — 1,393 1,393 — — ( 47 ) 1,346
−Removed: Other long-term financial liabilities (7)
−Removed: — — 583 583 — — 57 640
−Removed: (1) Included in the Balance Sheet lines:
−Removed: Notes and accounts receivable - net and Other assets, including intangibles - net.
−Removed: (2) Included in the Balance Sheet line:
−Removed: Investments, advances and long-term receivables.
−Removed: (3) Included in the Balance Sheet lines:
−Removed: Investments, advances and long-term receivables and Other assets, including intangibles - net.
−Removed: (4) Included in the Balance Sheet lines:
−Removed: Accounts payable and accrued liabilities and Other long-term obligations.
−Removed: (5) Excluding finance lease obligations.
−Removed: (6) Advances to/receivables from equity companies and long-term obligations to equity companies are mainly designated as hierarchy level 3 inputs.
−Removed: The fair value is calculated by discounting the remaining obligations by a rate consistent with the credit quality and industry of the equity company.
−Removed: (7) Included in the Balance Sheet line:
−Removed: Other long-term obligations.
−Removed: Includes contingent consideration related to a prior year acquisition where fair value is based on expected drilling activities and discount rates.
−Removed: At September 30, 2025 and December 31, 2024, respectively, the Corporation had $ 836 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.
−Removed: 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.
−Removed: 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.
−Removed: As of September 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.
−Removed: The net investment hedge is deemed to be perfectly effective.
−Removed: The Corporation had undrawn short-term committed lines of credit of $ 0.2 billion and undrawn long-term committed lines of credit of $ 0.4 billion as of the end of third quarter 2025.
−Removed: On October 2, 2025, the Corporation established a 364-day revolving credit facility of $ 7.0 billion to provide short-term borrowing capacity for general corporate purposes.
−Removed: Derivative Instruments
−Removed: The Corporation’s size, strong capital structure, geographic diversity, and the complementary nature of its business segments reduce the Corporation’s enterprise-wide risk from changes in commodity prices, currency rates, and interest rates.
−Removed: In addition, the Corporation uses commodity-based contracts, including derivatives, to manage commodity price risk and to generate returns from trading.
−Removed: Commodity contracts held for trading purposes are presented in the Condensed Consolidated Statement of Income on a net basis in the line “Sales and other operating revenue" and in the Consolidated Statement of Cash Flows in “Cash Flows from Operating Activities”.
−Removed: The Corporation’s commodity derivatives are not accounted for under hedge accounting.
−Removed: 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 September 30, 2025 and December 31, 2024, or results of operations for the periods ended September 30, 2025 and 2024.
−Removed: 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.
−Removed: This program utilizes fair value hedge accounting.
−Removed: The derivative (hedging) instruments are fixed-for-floating interest rate swaps, with settlement dates that correspond to the interest payments associated with the fixed-rate debt (hedged item).
−Removed: Changes in the fair values of the hedging instruments are perfectly offset by changes in the fair values of the hedged items;
−Removed: the effects of these changes in fair values are recorded in "Interest expense" in the Consolidated Statement of Income.
−Removed: This program was not material to the Consolidated Financial Statements as of the end of third quarter 2025.
−Removed: 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.
−Removed: The Corporation maintains a system of controls that includes the authorization, reporting, and monitoring of derivative activity.
−Removed: The net notional long/(short) position of derivative instruments at September 30, 2025 and December 31, 2024, was as follows:
−Removed: (millions) September 30, 2025 December 31, 2024
−Removed: Crude oil (barrels) ( 24 ) 13
−Removed: Petroleum products (barrels) ( 28 ) ( 32 )
−Removed: Natural gas (MMBTUs) ( 709 ) ( 675 )
−Removed: Realized and unrealized gains/(losses) on derivative instruments that were recognized in the Condensed Consolidated Statement of Income are included in the following lines on a before-tax basis:
−Removed: (millions of dollars) Three Months Ended
−Removed: September 30, Nine Months Ended
−Removed: September 30,
−Removed: 2025 2024 2025 2024
−Removed: Sales and other operating revenue ( 31 ) 690 503 ( 205 )
−Removed: Crude oil and product purchases ( 17 ) ( 4 ) ( 11 ) ( 6 )
−Removed: Total ( 48 ) 686 492 ( 211 )
Disclosures about Segments and Related Information
−Removed: (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total
−Removed: Three Months Ended September 30, 2025
−Removed: Revenues and other income
−Removed: Sales and other operating revenue 7,185 3,252 25,635 37,073 1,868 3,837 1,398 3,063 83,311
−Removed: Income from equity affiliates 4 1,048 31 45 45 172 2 ( 10 ) 1,337
−Removed: Intersegment revenue 6,601 9,372 4,946 7,185 1,744 896 562 121 31,427
−Removed: Other income 231 97 37 38 1 9 7 32 452
−Removed: Segment revenues and other income 14,021 13,769 30,649 44,341 3,658 4,914 1,969 3,206 116,527
−Removed: Costs and other items
−Removed: Crude oil and product purchases 6,212 2,189 26,542 35,597 1,989 3,409 982 2,077 78,997
−Removed: Operating expenses, excl.
−Removed: depreciation and depletion (1)
−Removed: 2,780 2,341 1,903 2,181 1,085 1,079 504 546 12,419
−Removed: Depreciation and depletion (includes impairments) 3,265 1,813 216 185 151 179 26 45 5,880
−Removed: Interest expense 34 15 4 11 — 1 — 1 66
−Removed: Other taxes and duties 33 561 825 4,924 23 57 3 49 6,475
−Removed: Total costs and other deductions 12,324 6,919 29,490 42,898 3,248 4,725 1,515 2,718 103,837
−Removed: Segment income (loss) before income taxes
−Removed: 1,697 6,850 1,159 1,443 410 189 454 488 12,690
−Removed: Income tax expense (benefit) 469 2,219 239 350 81 ( 5 ) 100 92 3,545
−Removed: Segment net income (loss) incl.
−Removed: noncontrolling interests 1,228 4,631 920 1,093 329 194 354 396 9,145
−Removed: Net income (loss) attributable to noncontrolling interests — 180 62 111 — 8 — 10 371
−Removed: Segment income (loss) 1,228 4,451 858 982 329 186 354 386 8,774
−Removed: Reconciliation of consolidated revenues
−Removed: Segment revenues and other income 116,527
−Removed: Other revenues (2)
−Removed: Elimination of intersegment revenues ( 31,427 )
−Removed: Total consolidated revenues and other income 85,294
−Removed: Reconciliation of income (loss) attributable to ExxonMobil
−Removed: Total segment income (loss) 8,774
−Removed: Corporate and Financing income (loss) ( 1,226 )
−Removed: Net income (loss) attributable to ExxonMobil 7,548
−Removed: (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total
−Removed: Three Months Ended September 30, 2025
−Removed: Additions to property, plant and equipment (3)
−Removed: 6,654 3,215 181 245 167 98 62 39 10,661
−Removed: As of September 30, 2025
−Removed: Investments in equity companies 5,302 19,592 460 977 2,991 2,707 — 788 32,817
−Removed: Total assets 153,531 134,975 34,909 47,259 17,417 18,570 2,655 8,543 417,859
−Removed: Reconciliation to Corporate Total Segment Total Corporate and Financing Corporate Total
−Removed: Three Months Ended September 30, 2025
−Removed: Additions to property, plant and equipment (3)
−Removed: 10,661 612 11,273
−Removed: As of September 30, 2025
−Removed: Investments in equity companies 32,817 ( 142 ) 32,675
−Removed: Total assets 417,859 36,481 454,340
−Removed: (1) Operating expenses, excl.
−Removed: depreciation and depletion includes the following GAAP line items, as reflected on the Income Statement:
−Removed: Production and manufacturing expenses;
−Removed: Selling, general and administrative expenses;
−Removed: Exploration expenses, including dry holes;
−Removed: and Non-service pension and postretirement benefit expense.
−Removed: (2) Primarily Corporate and Financing Interest revenue of $ 281 million.
−Removed: (3) Includes non-cash additions.
−Removed: Due to rounding, numbers presented may not add up precisely to the totals indicated.
−Removed: (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total
−Removed: Three Months Ended September 30, 2024
+Added: Our four reportable segments are Upstream, Energy Products, Chemical Products, and Specialty Products.
+Added: (millions of dollars)
+Added: Energy Products
+Added: Chemical Products
+Added: Specialty Products
+Added: Three Months Ended March 31, 2026
Revenues and other income
2 unchanged sentences
Intersegment revenue
−Removed: Other income 96 51 50 85 1 — 13 29 325
Segment revenues and other income
2 unchanged sentences
Operating expenses, excl.
−Removed: depreciation and depletion (1)
−Removed: 2,727 2,603 1,841 2,156 1,337 1,008 480 548 12,700
+Added: depreciation and
+Added: depletion (1)
Depreciation and depletion (includes impairments)
5 unchanged sentences
Segment net income (loss) incl.
−Removed: noncontrolling interests 1,686 4,726 563 847 367 538 375 425 9,527
−Removed: Net income (loss) attributable to noncontrolling interests — 254 46 55 — 12 — 6 373
+Added: noncontrolling
+Added: Net income (loss) attributable to noncontrolling
Segment income (loss)
8 unchanged sentences
Net income (loss) attributable to ExxonMobil
−Removed: (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total
−Removed: Three Months Ended September 30, 2024
+Added: (millions of dollars)
+Added: Energy Products
+Added: Chemical Products
+Added: Specialty Products
+Added: Three Months Ended March 31, 2026
Additions to property, plant and equipment (3)
−Removed: 2,697 1,949 143 335 114 279 45 57 5,619
−Removed: As of December 31, 2024
+Added: As of March 31, 2026
Investments in equity companies
−Removed: Total assets 154,914 134,609 32,143 43,399 17,445 17,692 2,882 8,040 411,124
−Removed: Reconciliation to Corporate Total Segment Total Corporate and Financing Corporate Total
−Removed: Three Months Ended September 30, 2024
+Added: Reconciliation to Corporate Total
+Added: Segment Total
+Added: Corporate and
+Added: Corporate Total
+Added: Three Months Ended March 31, 2026
Additions to property, plant and equipment (3)
−Removed: 5,619 564 6,183
−Removed: As of December 31, 2024
+Added: As of March 31, 2026
Investments in equity companies
−Removed: 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:
−Removed: Production and manufacturing expenses;
+Added: Production and manufacturing
Selling, general and administrative expenses;
3 unchanged sentences
(3) Includes non-cash additions.
−Removed: Due to rounding, numbers presented may not add up precisely to the totals indicated.
−Removed: (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total
−Removed: Nine Months Ended September 30, 2025
+Added: (millions of dollars)
+Added: Energy Products
+Added: Chemical Products
+Added: Specialty Products
+Added: Three Months Ended March 31, 2025
Revenues and other income
2 unchanged sentences
Intersegment revenue
−Removed: Other income 189 494 119 116 2 11 9 90 1,030
Segment revenues and other income
2 unchanged sentences
Operating expenses, excl.
−Removed: depreciation and depletion (1)
−Removed: 8,259 7,102 5,925 6,612 3,244 3,357 1,486 1,672 37,657
+Added: depreciation and
+Added: depletion (1)
Depreciation and depletion (includes impairments)
3 unchanged sentences
Segment income (loss) before income taxes
−Removed: 5,700 21,172 2,744 3,049 1,031 256 1,255 1,499 36,706
Income tax expense (benefit)
Segment net income (loss) incl.
−Removed: noncontrolling interests 4,310 14,023 2,147 2,353 839 264 968 1,224 26,128
−Removed: Net income (loss) attributable to noncontrolling interests — 496 167 300 — 22 1 16 1,002
+Added: noncontrolling
+Added: Net income (loss) attributable to noncontrolling
Segment income (loss)
8 unchanged sentences
Net income (loss) attributable to ExxonMobil
−Removed: (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total
−Removed: Nine Months Ended September 30, 2025
−Removed: Additions to property, plant and equipment (3)
−Removed: 12,481 7,259 442 731 473 316 150 142 21,994
−Removed: As of September 30, 2025
−Removed: Investments in equity companies 5,302 19,592 460 977 2,991 2,707 — 788 32,817
−Removed: Total assets 153,531 134,975 34,909 47,259 17,417 18,570 2,655 8,543 417,859
−Removed: Reconciliation to Corporate Total Segment Total Corporate and Financing Corporate Total
−Removed: Nine Months Ended September 30, 2025
−Removed: Additions to property, plant and equipment (3)
−Removed: 21,994 1,663 23,657
−Removed: As of September 30, 2025
−Removed: Investments in equity companies 32,817 ( 142 ) 32,675
−Removed: Total assets 417,859 36,481 454,340
−Removed: (1) Operating expenses, excl.
−Removed: depreciation and depletion includes the following GAAP line items, as reflected on the Income Statement:
−Removed: Production and manufacturing expenses;
−Removed: Selling, general and administrative expenses;
−Removed: Exploration expenses, including dry holes;
−Removed: and Non-service pension and postretirement benefit expense.
−Removed: (2) Primarily Corporate and Financing Interest revenue of $ 956 million.
−Removed: (3) Includes non-cash additions.
−Removed: Due to rounding, numbers presented may not add up precisely to the totals indicated.
−Removed: (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total
−Removed: Nine Months Ended September 30, 2024
−Removed: Revenues and other income
−Removed: Sales and other operating revenue 16,030 10,418 76,754 123,406 6,607 10,975 4,462 9,463 258,115
−Removed: Income from equity affiliates ( 61 ) 4,583 106 ( 43 ) 126 531 — ( 32 ) 5,210
−Removed: Intersegment revenue 18,205 31,566 18,595 19,703 5,679 3,127 1,834 460 99,169
−Removed: Other income 793 63 172 150 2 5 20 84 1,289
−Removed: Segment revenues and other income 34,967 46,630 95,627 143,216 12,414 14,638 6,316 9,975 363,783
−Removed: Costs and other items
−Removed: Crude oil and product purchases 13,067 7,613 84,065 119,150 6,563 9,731 3,251 6,794 250,234
−Removed: Operating expenses, excl.
−Removed: depreciation and depletion (1)
−Removed: 7,059 7,943 5,888 6,470 3,522 3,188 1,375 1,630 37,075
−Removed: Depreciation and depletion (includes impairments) 7,834 6,106 591 553 454 337 66 112 16,053
−Removed: Interest expense 98 44 5 8 1 1 — 2 159
−Removed: Other taxes and duties 262 1,991 2,575 14,534 50 59 5 142 19,618
−Removed: Total costs and other deductions 28,320 23,697 93,124 140,715 10,590 13,316 4,697 8,680 323,139
−Removed: Segment income (loss) before income taxes 6,647 22,933 2,503 2,501 1,824 1,322 1,619 1,295 40,644
−Removed: Income tax expense (benefit) 1,477 8,604 541 413 427 227 392 201 12,282
−Removed: Segment net income (loss) incl.
−Removed: noncontrolling interests 5,170 14,329 1,962 2,088 1,397 1,095 1,227 1,094 28,362
−Removed: Net income (loss) attributable to noncontrolling interests — 607 159 260 — 35 1 14 1,076
−Removed: Segment income (loss) 5,170 13,722 1,803 1,828 1,397 1,060 1,226 1,080 27,286
−Removed: Reconciliation of consolidated revenue
−Removed: Segment revenues and other income 363,783
−Removed: Other revenues (2)
−Removed: Elimination of intersegment revenues ( 99,169 )
−Removed: Total consolidated revenues and other income 266,159
−Removed: Reconciliation of income (loss) attributable to ExxonMobil
−Removed: Total segment income (loss) 27,286
−Removed: Corporate and Financing income (loss) ( 1,216 )
−Removed: Net income (loss) attributable to ExxonMobil 26,070
−Removed: (millions of dollars) Upstream Energy Products Chemical Products Specialty Products Segment Total
−Removed: Nine Months Ended September 30, 2024
+Added: (millions of dollars)
+Added: Energy Products
+Added: Chemical Products
+Added: Specialty Products
+Added: Three Months Ended March 31, 2025
Additions to property, plant and equipment (3)
−Removed: 91,609 6,087 445 1,001 318 812 103 179 100,554
As of December 31, 2025
Investments in equity companies
−Removed: Total assets 154,914 134,609 32,143 43,399 17,445 17,692 2,882 8,040 411,124
−Removed: Reconciliation to Corporate Total Segment Total Corporate and Financing Corporate Total
−Removed: Nine Months Ended September 30, 2024
+Added: Reconciliation to Corporate Total
+Added: Segment Total
+Added: Corporate and
+Added: Corporate Total
+Added: Three Months Ended March 31, 2025
Additions to property, plant and equipment ( 3)
−Removed: 100,554 1,507 102,061
As of December 31, 2025
Investments in equity companies
−Removed: 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:
−Removed: Production and manufacturing expenses;
+Added: Production and manufacturing
Selling, general and administrative expenses;
3 unchanged sentences
(3) Includes non-cash additions.
−Removed: Due to rounding, numbers presented may not add up precisely to the totals indicated.
Revenue from Contracts with Customers
Sales and other operating revenue include both revenue within the scope of ASC 606 and outside the scope of ASC 606.
−Removed: Trade receivables in "Notes and accounts receivable – net" reported on the Balance Sheet also includes both receivables within the scope of ASC 606 and those outside the scope of ASC 606.
−Removed: Revenue and receivables outside the scope of ASC 606 primarily relate to physically settled commodity contracts accounted for as derivatives.
−Removed: Contractual terms, credit quality, and type of customer are generally similar between those revenues and receivables within the scope of ASC 606 and those outside it.
+Added: receivables in "Notes and accounts receivable – net" reported on the Balance Sheet also includes both receivables within the
+Added: scope of ASC 606 and those outside the scope of ASC 606.
+Added: Revenue and receivables outside the scope of ASC 606 primarily
+Added: relate to physically settled commodity contracts accounted for as derivatives.
+Added: Contractual terms, credit quality, and type of
+Added: customer are generally similar between those revenues and receivables within the scope of ASC 606 and those outside it.
Sales and other operating revenue
1 unchanged sentence
Three Months Ended
−Removed: September 30, Nine Months Ended
−Removed: September 30,
−Removed: 2025 2024 2025 2024
Revenue from contracts with customers
Revenue outside the scope of ASC 606
−Removed: Total 83,331 87,792 243,866 258,189
Geographic Sales and Other Operating Revenue
−Removed: (millions of dollars) Three Months Ended
−Removed: September 30, Nine Months Ended
−Removed: September 30,
−Removed: 2025 2024 2025 2024
+Added: (millions of dollars)
+Added: Three Months Ended
United States
−Removed: 47,226 51,490 138,718 154,336
−Removed: Total 83,331 87,792 243,866 258,189
Significant Non-U.S.
revenue sources include:
−Removed: Canada 6,989 7,777 20,783 22,958
(1) Revenue is determined by primary country of operations.
Excludes certain sales and other operating revenues in non-U.S.
−Removed: operations where attribution to a specific country is not practicable.
+Added: where attribution to a specific country is not practicable.
+Added: Pension and Other Postretirement Benefits
+Added: (millions of dollars)
+Added: Three Months Ended
+Added: Components of net benefit cost
+Added: Pension Benefits - U.S.
+Added: Interest cost
+Added: Expected return on plan assets
+Added: Amortization of actuarial loss/(gain)
+Added: Amortization of prior service cost
+Added: Net pension enhancement and curtailment/settlement cost
+Added: Net benefit cost
+Added: Pension Benefits - Non-U.S.
+Added: Interest cost
+Added: Expected return on plan assets
+Added: Amortization of actuarial loss/(gain)
+Added: Amortization of prior service cost
+Added: Net pension enhancement and curtailment/settlement cost
+Added: Net benefit cost
+Added: Other Postretirement Benefits
+Added: Interest cost
+Added: Expected return on plan assets
+Added: Amortization of actuarial loss/(gain)
+Added: Amortization of prior service cost
+Added: Net benefit cost
+Added: Other Comprehensive Income Information
+Added: ExxonMobil Share of Accumulated Other
+Added: Comprehensive Income
+Added: (millions of dollars)
+Added: Postretirement
+Added: Benefits Reserves
+Added: Balance as of December 31, 2024
+Added: Current period change excluding amounts reclassified from accumulated
+Added: other comprehensive income (1)
+Added: Amounts reclassified from accumulated other comprehensive income
+Added: Total change in accumulated other comprehensive income
+Added: Balance as of March 31, 2025
+Added: Balance as of December 31, 2025
+Added: Current period change excluding amounts reclassified from accumulated
+Added: other comprehensive income ( 1)
+Added: Amounts reclassified from accumulated other comprehensive income
+Added: Total change in accumulated other comprehensive income
+Added: Balance as of March 31, 2026
+Added: (1) Cumulative Foreign Exchange Translation Adjustment includes net investment hedge gain/(loss) net of taxes of $ 55 million and $( 99 )
+Added: million in 2026 and 2025 , respectively.
+Added: Amounts Reclassified Out of Accumulated Other
+Added: Comprehensive Income - Before-tax Income/(Expense)
+Added: (millions of dollars)
+Added: Three Months Ended
+Added: Foreign exchange translation gain/(loss) included in net income
+Added: (Statement of Income line:
+Added: Other income)
+Added: Amortization and settlement of postretirement benefits reserves adjustment included in net periodic
+Added: benefit costs (Statement of Income line:
+Added: Non-service pension and postretirement benefit expense)
+Added: Income Tax (Expense)/Credit For
+Added: Components of Other Comprehensive Income
+Added: (millions of dollars)
+Added: Three Months Ended
+Added: Foreign exchange translation adjustment
+Added: Postretirement benefits reserves adjustment (excluding amortization)
+Added: Amortization and settlement of postretirement benefits reserves adjustment included in net periodic
+Added: benefit costs
+Added: Financial Instruments and Derivatives
+Added: The estimated fair value of financial instruments and derivatives at March 31, 2026 and December 31, 2025 , and the related
+Added: hierarchy level for the fair value measurement was as follows:
+Added: March 31, 2026
+Added: (millions of dollars)
+Added: & Liabilities
+Added: Difference in
+Added: Carrying Value
+Added: and Fair Value
+Added: Derivative assets (1)
+Added: Advances to/receivables from equity
+Added: companies (2)(3)
+Added: Other long-term financial assets (4)
+Added: Derivative liabilities (5)
+Added: Long-term debt (6)
+Added: Long-term obligations to equity
+Added: companies (3)
+Added: Other long-term financial liabilities (7)
+Added: December 31, 2025
+Added: (millions of dollars)
+Added: & Liabilities
+Added: Difference in
+Added: Carrying Value
+Added: and Fair Value
+Added: Derivative assets (1)
+Added: Advances to/receivables from equity
+Added: companies (2)(3)
+Added: Other long-term financial assets (4)
+Added: Derivative liabilities (5)
+Added: Long-term debt (6)
+Added: Long-term obligations to equity
+Added: companies (3)
+Added: Other long-term financial liabilities (7)
+Added: (1) Included in the Balance Sheet lines:
+Added: Notes and accounts receivable - net and Other assets, including intangibles - net.
+Added: (2) Included in the Balance Sheet line:
+Added: Investments, advances and long-term receivables.
+Added: (3) Advances to/receivables from equity companies and long-term obligations to equity companies are mainly designated as hierarchy level 3
+Added: The fair value is calculated by discounting the remaining obligations by a rate consistent with the credit quality and industry of the
+Added: equity company.
+Added: (4) Included in the Balance Sheet lines:
+Added: Investments, advances and long-term receivables and Other assets, including intangibles - net.
+Added: (5) Included in the Balance Sheet lines:
+Added: Accounts payable and accrued liabilities and Other long-term obligations.
+Added: (6) Excluding finance lease obligations.
+Added: (7) Included in the Balance Sheet line:
+Added: Other long-term obligations.
+Added: Includes contingent consideration related to a prior year acquisition
+Added: where fair value is based on expected drilling activities and discount rates.
+Added: At March 31, 2026 and December 31, 2025 , respectively, the Corporation had $ 1.9 billion and $ 0.5 billion of collateral under
+Added: master netting arrangements not offset against the derivatives on the Condensed Consolidated Balance Sheet, primarily related
+Added: to initial margin requirements.
+Added: The Corporation may use non-derivative financial instruments, such as its foreign currency-denominated debt, as hedges of its
+Added: net investments in certain foreign subsidiaries.
+Added: Under this method, the change in the carrying value of the financial instruments
+Added: due to foreign exchange fluctuations is reported in accumulated other comprehensive income.
+Added: As of March 31, 2026 , the
+Added: Corporation has designated $ 3.4 billion of its Euro-denominated debt and related accrued interest as a net investment hedge of
+Added: its European business.
+Added: The net investment hedge is deemed to be perfectly effective.
+Added: The Corporation had undrawn short-term committed lines of credit of $ 7.3 billion and undrawn long-term committed lines of
+Added: credit of $ 0.3 billion as of the end of first quarter 2026 .
+Added: Derivative Instruments
+Added: The Corporation’s size, strong capital structure, geographic diversity, and the complementary nature of its business segments
+Added: reduce the Corporation’s enterprise-wide risk from changes in commodity prices, currency rates, and interest rates.
+Added: the Corporation uses commodity-based contracts, including derivatives, to manage commodity price risk and to generate returns
+Added: from trading.
+Added: Commodity contracts held for trading purposes are presented in the Condensed Consolidated Statement of Income
+Added: on a net basis in the line “Sales and other operating revenue" and in the Consolidated Statement of Cash Flows in “Cash Flows
+Added: from Operating Activities” and included before-tax realized and unrealized losses of $ 3.8 billion and gains of $ 19 million for
+Added: the periods ended March 31, 2026 and 2025 , respectively.
+Added: The Corporation’s commodity derivatives are not accounted for
+Added: under hedge accounting.
+Added: At times, the Corporation also enters into currency and interest rate derivatives, none of which are
+Added: material to the Corporation’s financial position as of March 31, 2026 and December 31, 2025 , or results of operations for the
+Added: periods ended March 31, 2026 and 2025 .
+Added: The Corporation operates a program to hedge certain of its fixed-rate debt instruments against changes in fair value due to
+Added: changes in the designated benchmark interest rate.
+Added: This program utilizes fair value hedge accounting.
+Added: The derivative (hedging)
+Added: instruments are fixed-for-floating interest rate swaps, with settlement dates that correspond to the interest payments associated
+Added: with the fixed-rate debt (hedged item).
+Added: Changes in the fair values of the hedging instruments are perfectly offset by changes in
+Added: the fair values of the hedged items;
+Added: the effects of these changes in fair values are recorded in "Interest expense" in the
+Added: Consolidated Statement of Income.
+Added: This program was not material to the Consolidated Financial Statements as of the end of
+Added: first quarter 2026 .
+Added: Credit risk associated with the Corporation’s derivative position is mitigated by several factors, including the use of derivative
+Added: clearing exchanges and the quality of and financial limits placed on derivative counterparties.
+Added: The Corporation maintains a
+Added: system of controls that includes the authorization, reporting, and monitoring of derivative activity.
+Added: The net notional long/(short) position of derivative instruments at March 31, 2026 and December 31, 2025 , was as follows:
+Added: March 31, 2026
+Added: December 31, 2025
+Added: Crude oil (barrels)
+Added: Petroleum products (barrels)
+Added: Natural gas (MMBTUs)
+Added: Litigation and Other Contingencies
+Added: A variety of claims have been made against ExxonMobil and certain of its consolidated subsidiaries in a number of pending
+Added: Management has regular litigation reviews, including updates from corporate and outside counsel, to assess the need
+Added: for accounting recognition or disclosure of these contingencies.
+Added: The Corporation accrues an undiscounted liability for those
+Added: contingencies where the incurrence of a loss is probable and the amount can be reasonably estimated.
+Added: If a range of amounts can
+Added: be reasonably estimated and no amount within the range is a better estimate than any other amount, then the minimum of the
+Added: range is accrued.
+Added: The Corporation does not record liabilities when the likelihood that the liability has been incurred is probable
+Added: but the amount cannot be reasonably estimated or when the liability is believed to be only reasonably possible or remote.
+Added: contingencies where an unfavorable outcome is reasonably possible and which are significant, the Corporation discloses the
+Added: nature of the contingency and, where feasible, an estimate of the possible loss.
+Added: For purposes of our contingency disclosures,
+Added: “significant” includes material matters, as well as other matters, which management believes should be disclosed.
+Added: State and local governments and other entities in various jurisdictions across the United States and its territories have filed a
+Added: number of legal proceedings against several oil and gas companies, including ExxonMobil, requesting unprecedented legal and
+Added: equitable relief for various alleged injuries purportedly connected to climate change.
+Added: These lawsuits assert a variety of novel,
+Added: untested claims under statutory and common law.
+Added: Additional such lawsuits may be filed.
+Added: We believe the legal and factual
+Added: theories set forth in these proceedings are meritless and represent an inappropriate attempt to use the court system to usurp the
+Added: proper role of policymakers in addressing the societal challenges of climate change.
+Added: Local governments in Louisiana have filed unprecedented legal proceedings against a number of oil and gas companies,
+Added: including ExxonMobil, requesting compensation for the restoration of coastal marsh erosion in the state.
+Added: We believe the factual
+Added: and legal theories set forth in these proceedings are meritless.
+Added: While the outcome of any litigation can be unpredictable, we believe the likelihood is remote that the ultimate outcomes of
+Added: these lawsuits will have a material adverse effect on the Corporation’s operations, financial condition, or financial statements
+Added: taken as a whole.
+Added: We will continue to defend vigorously against these claims.
+Added: Other Contingencies
+Added: The Corporation and certain of its consolidated subsidiaries were contingently liable at March 31, 2026 , for guarantees relating
+Added: to notes, loans and performance under contracts.
+Added: Where guarantees for environmental remediation and other similar matters do
+Added: not include a stated cap, the amounts reflect management’s estimate of the maximum potential exposure.
+Added: Where it is not
+Added: possible to make a reasonable estimation of the maximum potential amount of future payments, future performance is expected
+Added: to be either immaterial or have only a remote chance of occurrence.
+Added: March 31, 2026
+Added: (millions of dollars)
+Added: Equity Company
+Added: Obligations (1)
+Added: Other Third-Party
+Added: Non-debt-related
+Added: (1) ExxonMobil share.
+Added: Additionally, the Corporation and its affiliates have numerous long-term sales and purchase commitments in their various
+Added: business activities, all of which are expected to be fulfilled with no adverse consequences material to the Corporation’s
+Added: operations or financial condition.
Divestment Activities
−Removed: Through September 30, 2025, the Corporation realized proceeds of approximately $ 2.1 billion and net after-tax earnings of approximately $ 0.4 billion from its divestment activities.
−Removed: This included the sale of certain conventional and unconventional assets in the United States , Mobil Argentina S.A., as well as other smaller divestments.
−Removed: In 2024, the Corporation realized proceeds of approximately $ 5.0 billion and recognized net after-tax earnings of approximately $ 1.0 billion from its divestment activities.
−Removed: This included the sale of the Santa Ynez Unit and associated facilities in California, Mobil Producing Nigeria Unlimited, ExxonMobil Exploration Argentina, the Fos-sur-Mer Refinery (France), the Adriatic LNG terminal (Italy), and certain conventional and unconventional assets in the United States, as well as other smaller divestments.
+Added: Through March 31, 2026 , the Corporation realized proceeds of approximately $ 0.2 billion from its divestment activities with
+Added: negligible impact on after-tax earnings.
+Added: This included the sale of certain conventional assets in the United States , as well as
+Added: other smaller divestments.
+Added: In 2025 , the Corporation realized proceeds of approximately $ 3.2 billion and recognized net after-tax earnings of approximately
+Added: $ 1.1 billion from its divestment activities.
+Added: This included the sale of the Singapore retail fuels business, Mobil Argentina S.A.,
+Added: Product Solutions affiliates in France, certain conventional and unconventional assets in the United States, and other smaller
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.