Exxon Mobil Corporation: United States Securities and Exchange Commission FORM 10 Q

2/2/2016
www.sec.gov/Archives/edgar/data/34088/000003408815000044/xom10q3q2015.htm
10Q1xom10q3q2015.htmFORM10Q
UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
Washington,D.C.20549
FORM10Q
QUARTERLYREPORTPURSUANTTOSECTION13OR15(d)OF
THESECURITIESEXCHANGEACTOF1934
ForthequarterlyperiodendedSeptember30,2015
or
TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OF
THESECURITIESEXCHANGEACTOF1934
Forthetransitionperiodfrom__________to________
CommissionFileNumber12256
EXXONMOBILCORPORATION
(Exactnameofregistrantasspecifiedinitscharter)
NEWJERSEY
135409005
(Stateorotherjurisdictionof
incorporationororganization)
(I.R.S.Employer
IdentificationNumber )
5959LASCOLINASBOULEVARD,IRVING,TEXAS750392298
(Addressofprincipalexecutiveoffices)(ZipCode)
(972)4441000
(Registrant'stelephonenumber,includingareacode)
Indicatebycheckmarkwhethertheregistrant(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthe
preceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast
90days.YesNo
IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyandpostedonitscorporateWebsite,ifany,everyInteractiveDataFilerequiredtobe
submittedandpostedpursuanttoRule405ofRegulationSTduringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmit
andpostsuchfiles).YesNo
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a nonaccelerated filer, or a smaller reporting company. See the
definitionsof"largeacceleratedfiler,""acceleratedfiler"and"smallerreportingcompany"inRule12b2oftheExchangeAct.
Largeacceleratedfiler
Acceleratedfiler
Nonacceleratedfiler
Smallerreportingcompany
Indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b2oftheExchangeAct).YesNo
Indicatethenumberofsharesoutstandingofeachoftheissuer'sclassesofcommonstock,asofthelatestpracticabledate.
Class
OutstandingasofSeptember30,2015
Commonstock,withoutparvalue
4,162,938,512
http://www.sec.gov/Archives/edgar/data/34088/000003408815000044/xom10q3q2015.htm
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FORM10Q
FORTHEQUARTERLYPERIODENDEDSEPTEMBER30,2015
TABLEOFCONTENTS
PARTI.FINANCIALINFORMATION
Item1.FinancialStatements
CondensedConsolidatedStatementofIncome
ThreeandninemonthsendedSeptember30,2015and2014
CondensedConsolidatedStatementofComprehensiveIncome
ThreeandninemonthsendedSeptember30,2015and2014
CondensedConsolidatedBalanceSheet
AsofSeptember30,2015andDecember31,2014
CondensedConsolidatedStatementofCashFlows
NinemonthsendedSeptember30,2015and2014
CondensedConsolidatedStatementofChangesinEquity
NinemonthsendedSeptember30,2015and2014
NotestoCondensedConsolidatedFinancialStatements
Item2.Management'sDiscussionandAnalysisofFinancial
ConditionandResultsofOperations
Item3.QuantitativeandQualitativeDisclosuresAboutMarketRisk
Item4.ControlsandProcedures
PARTII.OTHERINFORMATION
Item1.LegalProceedings
Item2.UnregisteredSalesofEquitySecuritiesandUseofProceeds
Item6.Exhibits
Signature
IndextoExhibits
3
4
5
6
7
8
14
22
22
23
24
24
25
26
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Item1.FinancialStatements
PARTI.FINANCIALINFORMATION

CONDENSEDCONSOLIDATEDSTATEMENTOFINCOME
(millionsofdollars)
Revenuesandotherincome
Salesandotheroperatingrevenue(1)
Incomefromequityaffiliates
Otherincome
Totalrevenuesandotherincome
Costsandotherdeductions
Crudeoilandproductpurchases
Productionandmanufacturingexpenses
Selling,generalandadministrativeexpenses
Depreciationanddepletion
Explorationexpenses,includingdryholes
Interestexpense
Salesbasedtaxes(1)
Othertaxesandduties
Totalcostsandotherdeductions
Incomebeforeincometaxes
Incometaxes
Netincomeincludingnoncontrollinginterests
Netincomeattributabletononcontrollinginterests
NetincomeattributabletoExxonMobil
Earningspercommonshare(dollars)
Earningspercommonshareassumingdilution(dollars)
Dividendspercommonshare(dollars)
(1)Salesbasedtaxesincludedinsalesandother
operatingrevenue
ThreeMonthsEnded
September30,
2015
65,679
1,783
(118)
67,344
32,276
8,614
2,967
4,542
324
78
5,813
6,981
61,595
5,749
1,365
4,384
144
4,240
1.01
1.01
0.73
5,813
2014
103,206
3,211
713
107,130
60,068
9,951
3,169
4,362
319
88
7,519
8,244
93,720
13,410
5,064
8,346
276
8,070
1.89
1.89
0.69
7,519

NineMonthsEnded
September30,
2015
201,797
6,125
1,153
209,075
102,286
26,579
8,511
13,293
1,005
251
17,308
20,504
189,737
19,338
5,617
13,721
351
13,370
3.18
3.18
2.15
17,308
2014
310,237
10,631
324,663
180,144
30,517
12,839
22,806
24,749
281,875
42,788
15,955
26,833
25,950
22,806
TheinformationintheNotestoCondensedConsolidatedFinancialStatementsisanintegralpartofthesestatements.
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CONDENSEDCONSOLIDATEDSTATEMENTOFCOMPREHENSIVEINCOME
(millionsofdollars)

Othercomprehensiveincome(netofincometaxes)
Foreignexchangetranslationadjustment
Adjustmentforforeignexchangetranslation(gain)/loss
includedinnetincome
Postretirementbenefitsreservesadjustment
(excludingamortization)
Amortizationandsettlementofpostretirementbenefitsreserves
adjustmentincludedinnetperiodicbenefitcosts
Unrealizedchangeinfairvalueofstockinvestments
Realized(gain)/lossfromstockinvestmentsincludedin
netincome
Totalothercomprehensiveincome
Comprehensiveincomeincludingnoncontrollinginterests
Comprehensiveincomeattributableto
noncontrollinginterests
ComprehensiveincomeattributabletoExxonMobil
ThreeMonthsEnded
September30,
2015
4,384
(4,023)
484
367
(3,162)
1,222
(175)
1,397
2014
8,346
(3,828)
372
289
(21)
(3,188)
5,158
(27)
5,185

NineMonthsEnded
September30,
2015
13,721
(8,379)
1,111
1,075
26
15
(6,152)
7,569
(422)
7,991
2014
26,833
25,067
24,479
4
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CONDENSEDCONSOLIDATEDBALANCESHEET
(millionsofdollars)
Assets
Currentassets
Cashandcashequivalents
Cashandcashequivalentsrestricted
Notesandaccountsreceivablenet
Inventories
Crudeoil,productsandmerchandise
Materialsandsupplies
Othercurrentassets
Totalcurrentassets
Investments,advancesandlongtermreceivables
Property,plantandequipmentnet
Otherassets,includingintangiblesnet
Totalassets
Liabilities
Currentliabilities
Notesandloanspayable
Accountspayableandaccruedliabilities
Incometaxespayable
Totalcurrentliabilities
Longtermdebt
Postretirementbenefitsreserves
Deferredincometaxliabilities
Longtermobligationstoequitycompanies
Otherlongtermobligations
Totalliabilities
Commitmentsandcontingencies(Note3)
Equity
Commonstockwithoutparvalue
(9,000millionsharesauthorized,8,019millionsharesissued)
Earningsreinvested
Accumulatedothercomprehensiveincome
Commonstockheldintreasury
(3,856millionsharesatSeptember30,2015and
3,818millionsharesatDecember31,2014)
ExxonMobilshareofequity
Noncontrollinginterests
Totalequity
Totalliabilitiesandequity
2015
4,296
22,157
12,249
4,335
4,197
47,234
34,315
250,583
8,530
340,662
Sept.30,
14,473
36,681
3,674
54,828
19,839
24,422
38,210
5,524
21,000
163,823
11,443
412,718
(24,336)
(229,102)
170,723
6,116
176,839
340,662
Dec.31,
2014
4,616
42
28,009
12,384
4,294
3,565
52,910
35,239
252,668
8,676
349,493
17,468
42,227
4,938
64,633
11,653
25,802
39,230
5,325
21,786
168,429
10,792
408,384
(18,957)
(225,820)
174,399
6,665
181,064
349,493
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CONDENSEDCONSOLIDATEDSTATEMENTOFCASHFLOWS
(millionsofdollars)
Cashflowsfromoperatingactivities
Depreciationanddepletion
Changesinoperationalworkingcapital,excludingcashanddebt
Allotheritemsnet
Netcashprovidedbyoperatingactivities
Cashflowsfrominvestingactivities
Additionstoproperty,plantandequipment
Proceedsassociatedwithsalesofsubsidiaries,property,plantand
equipment,andsalesandreturnsofinvestments
Additionalinvestmentsandadvances
Otherinvestingactivitiesnet
Netcashusedininvestingactivities
Cashflowsfromfinancingactivities
Additionstolongtermdebt
Reductionsinlongtermdebt
Additions/(reductions)inshorttermdebtnet
Additions/(reductions)indebtwiththreemonthsorlessmaturity
CashdividendstoExxonMobilshareholders
Cashdividendstononcontrollinginterests
Taxbenefitsrelatedtostockbasedawards
Commonstockacquired
Commonstocksold
Netcashusedinfinancingactivities
Effectsofexchangeratechangesoncash
Increase/(decrease)incashandcashequivalents
Cashandcashequivalentsatbeginningofperiod
Cashandcashequivalentsatendofperiod
SupplementalDisclosures
Incometaxespaid
Cashinterestpaid
NineMonthsEnded
September30,
2015

13,721
13,293
(1,037)
(13)
25,964

(20,354)

1,604
(412)
662
(18,500)

8,028
(18)
(475)
(2,537)
(9,036)
(127)

(3,285)

(7,450)
(334)
(320)
4,616
4,296

5,594
459
2014
26,833
12,839
(460)
(1,511)
37,701
(24,068)
3,794
(1,269)
3,415
(18,128)
5,503
(514)
(5,413)
(8,644)
(172)
10
(9,865)
10
(19,085)
(170)
318
4,644
4,962
14,338
295
2015NonCashTransactions
An asset exchange resulted in value received of approximately $500 million including $100 million in cash. The noncash portion was not
includedintheProceedsassociatedwithsalesofsubsidiaries,property,plantandequipment,andsalesandreturnsofinvestmentsortheAll
otheritemsnetlinesontheStatementofCashFlows.
Capitalleasesofapproximately$800millionwerenotincludedinAdditionstolongtermdebtorAdditionstoproperty,plantandequipment
linesontheStatementofCashFlows.
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CONDENSEDCONSOLIDATEDSTATEMENTOFCHANGESINEQUITY
(millionsofdollars)
ExxonMobilShareofEquity

Accumulated
Other
Common
Compre
Stock
ExxonMobil
Non

Common
Earnings
hensive
Heldin
Shareof
controlling
Total

Stock
Reinvested
Income
Treasury
Equity
Interests
Equity

BalanceasofDecember31,2013
10,077 387,432
(10,725) (212,781) 174,003
6,492 180,495
Amortizationofstockbasedawards
588

588

Taxbenefitsrelatedtostockbased

awards
10

10

Other
6

6

Netincomefortheperiod

25,950

25,950
883
26,833
Dividendscommonshares

(8,644)

(8,644)
(172)
Othercomprehensiveincome

(1,471)

(1,471)
(295)
Acquisitions,atcost

(9,865)
(9,865)

Dispositions

10
10

BalanceasofSeptember30,2014
10,681 404,738
(12,196) (222,636) 180,587
6,908 187,495

10,792 408,384
(18,957) (225,820) 174,399
6,665 181,064
Amortizationofstockbasedawards
647

647

Taxbenefitsrelatedtostockbased

awards
9

9

Other
(5)

(5)

Netincomefortheperiod

13,370

13,370
351
13,721
Dividendscommonshares

(9,036)

(9,036)
(127)
Othercomprehensiveincome

(5,379)

(5,379)
(773)
Acquisitions,atcost

(3,285)
(3,285)

Dispositions

3
3

11,443 412,718
(24,336) (229,102) 170,723
6,116 176,839

NineMonthsEndedSeptember30,2015
NineMonthsEndedSeptember30,2014

Heldin

Heldin

Issued
Treasury Outstanding
Issued
Treasury
Outstanding
CommonStockShareActivity
(millionsofshares)
(millionsofshares)

BalanceasofDecember31
8,019
(3,818)
4,201
8,019
(3,684)
Acquisitions

(38)
(38)

(100)
Dispositions

BalanceasofSeptember30
8,019
(3,856)
4,163
8,019
(3,784)
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NOTESTOCONDENSEDCONSOLIDATEDFINANCIALSTATEMENTS
1.BasisofFinancialStatementPreparation
Theseunauditedcondensedconsolidatedfinancialstatementsshouldbereadinthecontextoftheconsolidatedfinancialstatementsandnotes
thereto filed with the Securities and Exchange Commission in the Corporation's 2014 Annual Report on Form 10K. In the opinion of the
Corporation,theinformationfurnishedhereinreflectsallknownaccrualsandadjustmentsnecessaryforafairstatementoftheresultsfortheperiods
reportedherein.Allsuchadjustmentsareofanormalrecurringnature.Priordatahasbeenreclassifiedincertaincasestoconformtothecurrent
presentationbasis.
TheCorporation'sexplorationandproductionactivitiesareaccountedforunderthe"successfulefforts"method.
2.RecentlyIssuedAccountingStandard
InMay2014,theFinancialAccountingStandardsBoardissuedanewstandard,RevenuefromContractswithCustomers.Thestandardestablishes
a single revenue recognition model for all contracts with customers, eliminates industry specific requirements, and expands disclosure
requirements. The standard is required to be adopted beginning January 1, 2018. ExxonMobil is evaluating the standard and its effect on the
Corporationsfinancialstatements.
3.LitigationandOtherContingencies
Litigation
AvarietyofclaimshavebeenmadeagainstExxonMobilandcertainofitsconsolidatedsubsidiariesinanumberofpendinglawsuits.Management
hasregularlitigationreviews,includingupdatesfromcorporateandoutsidecounsel,toassesstheneedforaccountingrecognitionordisclosureof
thesecontingencies.TheCorporationaccruesanundiscountedliabilityforthosecontingencieswheretheincurrenceofalossisprobableandthe
amountcanbereasonablyestimated.Ifarangeofamountscanbereasonablyestimatedandnoamountwithintherangeisabetterestimatethan
anyotheramount,thentheminimumoftherangeisaccrued.TheCorporationdoesnotrecordliabilitieswhenthelikelihoodthattheliabilityhas
beenincurredisprobablebuttheamountcannotbereasonablyestimatedorwhentheliabilityisbelievedtobeonlyreasonablypossibleorremote.
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. For purposes of our contingency disclosures, significant includes material
mattersaswellasothermatterswhichmanagementbelievesshouldbedisclosed.ExxonMobilwillcontinuetodefenditselfvigorouslyinthese
matters.Basedonaconsiderationofallrelevantfactsandcircumstances,theCorporationdoesnotbelievetheultimateoutcomeofanycurrently
pending lawsuit against ExxonMobil will have a material adverse effect upon the Corporation's operations, financial condition, or financial
statementstakenasawhole.
OtherContingencies
TheCorporationandcertainofitsconsolidatedsubsidiarieswerecontingentlyliableatSeptember30,2015,forguaranteesrelatingtonotes,loans
and performance under contracts. Where guarantees for environmental remediation and other similar matters do not include a stated cap, the
amountsreflectmanagementsestimateofthemaximumpotentialexposure.Theseguaranteesarenotreasonablylikelytohaveamaterialeffecton
theCorporationsfinancialcondition,changesinfinancialcondition,revenuesorexpenses,resultsofoperations,liquidity,capitalexpendituresor
capitalresources.
Guarantees
Debtrelated
Other
Total
(1)ExxonMobilshare
Equity
AsofSeptember30,2015
Other
Company
ThirdParty
Obligations(1)
Obligations
(millionsofdollars)
85
2,665
2,750
37
4,546
4,583
Total
122
7,211
7,333
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Additionally,theCorporationanditsaffiliateshavenumerouslongtermsalesandpurchasecommitmentsintheirvariousbusinessactivities,allof
whichareexpectedtobefulfilledwithnoadverseconsequencesmaterialtotheCorporationsoperationsorfinancialcondition.TheCorporation's
outstandingunconditionalpurchaseobligationsatSeptember30,2015,weresimilartothoseattheprioryearendperiod.Unconditionalpurchase
obligations as defined by accounting standards are those longterm commitments that are noncancelable or cancelable only under certain
conditions,andthatthirdpartieshaveusedtosecurefinancingforthefacilitiesthatwillprovidethecontractedgoodsorservices.
TheoperationsandearningsoftheCorporationanditsaffiliatesthroughouttheworldhavebeen,andmayinthefuturebe,affectedfromtimeto
timeinvaryingdegreebypoliticaldevelopmentsandlawsandregulations,suchasforceddivestitureofassetsrestrictionsonproduction,imports
andexportspricecontrolstaxincreasesandretroactivetaxclaimsexpropriationofpropertycancellationofcontractrightsandenvironmental
regulations.BoththelikelihoodofsuchoccurrencesandtheiroveralleffectupontheCorporationvarygreatlyfromcountrytocountryandarenot
predictable.
InaccordancewithanationalizationdecreeissuedbyVenezuelaspresidentinFebruary2007,byMay1,2007,asubsidiaryoftheVenezuelan
NationalOilCompany(PdVSA)assumedtheoperatorshipoftheCerroNegroHeavyOilProject.ThisProjecthadbeenoperatedandownedby
ExxonMobilaffiliatesholdinga41.67percentownershipinterestintheProject.ThedecreealsorequiredconversionoftheCerroNegroProject
into a mixed enterprise and an increase in PdVSAs or one of its affiliates ownership interest in the Project, with the stipulation that if
ExxonMobilrefusedtoacceptthetermsfortheformationofthemixedenterprisewithinaspecifiedperiodoftime,thegovernmentwoulddirectly
assumetheactivitiescarriedoutbythejointventure.ExxonMobilrefusedtoaccedetothetermsprofferedbythegovernment,andonJune27,
2007,thegovernmentexpropriatedExxonMobils41.67percentinterestintheCerroNegroProject.
OnSeptember6,2007,affiliatesofExxonMobilfiledaRequestforArbitrationwiththeInternationalCentreforSettlementofInvestmentDisputes
(ICSID). The ICSID Tribunal issued a decision on June 10, 2010, finding that it had jurisdiction to proceed on the basis of the Netherlands
VenezuelaBilateralInvestmentTreaty.OnOctober9,2014,theICSIDTribunalissueditsfinalawardfindinginfavoroftheExxonMobilaffiliates
andawarding$1.6billionasofthedateofexpropriation,June27,2007,andinterestfromthatdateat3.25%compoundedannuallyuntilthedate
ofpaymentinfull.TheTribunalalsonotedthatoneoftheCerroNegroProjectagreementsprovidesamechanismtopreventdoublerecovery
betweentheICSIDawardandallorpartofanearlierawardof$908milliontoanExxonMobilaffiliate,MobilCerroNegro,Ltd.,againstPdVSA
andaPdVSAaffiliate,PdVSACN,inanarbitrationundertherulesoftheInternationalChamberofCommerce.
OnJune12,2015,theTribunalrejectedinitsentiretyVenezuelasOctober23,2014,applicationtorevisetheICSIDaward.TheTribunalalso
liftedtheassociatedstayofenforcementthathadbeenentereduponthefilingoftheapplicationtorevise.
Still pending is Venezuelas February 2, 2015, application to ICSID seeking annulment of the ICSID award. That application alleges that, in
issuing the ICSID award, the Tribunal exceeded its powers, failed to state reasons on which the ICSID award was based, and departed from a
fundamentalruleofprocedure.AseparatestayoftheICSIDawardwasenteredfollowingthefilingoftheannulmentapplication.OnJuly7,2015,
theICSIDCommitteeconsideringtheannulmentapplicationheardargumentsfromthepartiesonwhethertoliftthestayoftheawardassociated
withthatapplication.OnJuly28,2015,theCommitteeissuedanorderthatwouldliftthestayofenforcementunless,within30days,Venezuela
deliveredacommitmenttopaytheawardiftheapplicationtoannulisdenied.OnSeptember17,2015,theCommitteeruledthatVenezuelahad
complied with the requirement to submit a written commitment to pay the award and so left the stay of enforcement in place. A hearing on
VenezuelasapplicationforannulmentisscheduledforJanuary2527,2016.
TheUnitedStatesDistrictCourtfortheSouthernDistrictofNewYorkenteredjudgmentontheICSIDawardonOctober10,2014.Motionsfiled
byVenezuelatovacatethatjudgmentonproceduralgroundsandtomodifythejudgmentbyreducingtherateofinteresttobepaidontheICSID
awardfromtheentryofthecourtsjudgment,untilthedateofpayment,weredeniedonFebruary13,2015,andMarch4,2015,respectively.On
March9,2015,Venezuelafiledanoticeofappealofthecourtsactionsonthetwomotions.
TheDistrictCourtsjudgmentontheICSIDawardiscurrentlystayeduntilsuchtimeasICSIDsstayoftheawardenteredfollowingVenezuelas
filingofitsapplicationtoannulhasbeenlifted.ThenetimpactofthesemattersontheCorporationsconsolidatedfinancialresultscannotbe
reasonablyestimated.Regardless,theCorporationdoesnotexpecttheresolutiontohaveamaterialeffectupontheCorporationsoperationsor
financialcondition.
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AnaffiliateofExxonMobilisoneoftheContractorsunderaProductionSharingContract(PSC)withtheNigerianNationalPetroleumCorporation
(NNPC)coveringtheErhablocklocatedintheoffshorewatersofNigeria.ExxonMobil'saffiliateistheoperatoroftheblockandownsa56.25
percentinterestunderthePSC.TheContractorsareindisputewithNNPCregardingNNPC'sliftingofcrudeoilinexcessofitsentitlementunder
the terms of the PSC. In accordance with the terms of the PSC, the Contractors initiated arbitration in Abuja, Nigeria, under the Nigerian
ArbitrationandConciliationAct.OnOctober24,2011,athreememberarbitralTribunalissuedanawardupholdingtheContractors'positionin
allmaterialrespectsandawardingdamagestotheContractorsjointlyinanamountofapproximately$1.8billionplus$234millioninaccrued
interest.TheContractorspetitionedaNigerianfederalcourtforenforcementoftheaward,andNNPCpetitionedthesamecourttohavetheaward
setaside.OnMay22,2012,thecourtsetasidetheaward.TheContractorsappealedthatjudgmenttotheCourtofAppeal,AbujaJudicialDivision.
InJune2013,theContractorsfiledalawsuitagainstNNPCintheNigerianfederalhighcourtinordertopreservetheirabilitytoseekenforcement
ofthePSCinthecourtsifnecessary.InOctober2014,theContractorsfiledsuitintheUnitedStatesDistrictCourtfortheSouthernDistrictofNew
Yorktoenforce,ifnecessary,thearbitrationawardagainstNNPCassetsresidingwithinthatjurisdiction.NNPChasmovedtodismissthelawsuit.
ProceedingsintheSouthernDistrictofNewYorkarecurrentlystayed.Atthistime,thenetimpactofthismatterontheCorporation'sconsolidated
financialresultscannotbereasonablyestimated.However,regardlessoftheoutcomeofenforcementproceedings,theCorporationdoesnotexpect
theproceedingstohaveamaterialeffectupontheCorporation'soperationsorfinancialcondition.
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4.OtherComprehensiveIncomeInformation

Cumulative

Post

Foreign

retirement
Unrealized

Exchange

Benefits

Changein

Translation

Reserves

Stock
ExxonMobilShareofAccumulatedOther

Adjustment
Adjustment Investments
Total
ComprehensiveIncome
(millionsofdollars)
(846)
(9,879)
(10,725)
Currentperiodchangeexcludingamountsreclassified

fromaccumulatedothercomprehensiveincome
(2,637)
176
(57)
Amountsreclassifiedfromaccumulatedother

comprehensiveincome
163
884
Totalchangeinaccumulatedothercomprehensiveincome
(2,474)
1,060
(57)
(3,320)
(8,819)
(57)
(12,196)
(5,952)
(12,945)
(18,957)
(60)
Currentperiodchangeexcludingamountsreclassified

fromaccumulatedothercomprehensiveincome
(7,497)
1,036
26
Amountsreclassifiedfromaccumulatedother

comprehensiveincome

1,041
15
Totalchangeinaccumulatedothercomprehensiveincome
(7,497)
2,077
41
(13,449)
(10,868)
(19)
(24,336)

ThreeMonthsEnded
NineMonthsEnded
AmountsReclassifiedOutofAccumulatedOther

September30,
September30,
ComprehensiveIncomeBeforetaxIncome/(Expense)
2015
2014
2015
(millionsofdollars)

Foreignexchangetranslationgain/(loss)includedinnetincome
(StatementofIncomeline:Otherincome)

(1,552)
adjustmentincludedinnetperiodicbenefitcosts(1)
(534)
(430)
Realizedchangeinfairvalueofstockinvestmentsincludedin
(23)
netincome(StatementofIncomeline:Otherincome)

(5)
(1)Theseaccumulatedothercomprehensiveincomecomponentsareincludedinthecomputationofnetperiodicpensioncost.
(SeeNote6PensionandOtherPostretirementBenefitsforadditionaldetails.)
ThreeMonthsEnded
NineMonthsEnded
IncomeTax(Expense)/CreditFor
September30,
September30,
ComponentsofOtherComprehensiveIncome
2015
2014
2015
(millionsofdollars)

Foreignexchangetranslationadjustment
82
70
147
Postretirementbenefitsreservesadjustment
(excludingamortization)
(225)
(138)
(527)
adjustmentincludedinnetperiodicbenefitcosts
(167)
(141)
(477)
Unrealizedchangeinfairvalueofstockinvestments
(3)
11
(14)
Realizedchangeinfairvalueofstockinvestments
includedinnetincome
(2)
(8)
Total
(315)
(198)
(879)
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5.EarningsPerShare
ThreeMonthsEnded

NineMonthsEnded
September30,

September30,
2015

2014
2015

2014
Earningspercommonshare
NetincomeattributabletoExxonMobil(millionsofdollars)
4,240
8,070
13,370
25,950
Weightedaveragenumberofcommonshares
outstanding(millionsofshares)
4,190
4,267
4,201
Earningspercommonshare(dollars)(1)
1.01
1.89
3.18

(1)Thecalculationofearningspercommonshareandearningspercommonshareassumingdilutionarethesameineach
periodshown.
6.PensionandOtherPostretirementBenefits
Componentsofnetbenefitcost
PensionBenefitsU.S.
Servicecost
Interestcost
Expectedreturnonplanassets
Amortizationofactuarialloss/(gain)andprior
servicecost
Netpensionenhancementand
curtailment/settlementcost
Netbenefitcost
PensionBenefitsNonU.S.
Servicecost
Interestcost
servicecost
Netpensionenhancementand
curtailment/settlementcost
Netbenefitcost
OtherPostretirementBenefits
Servicecost
Interestcost
servicecost
Netbenefitcost
ThreeMonthsEnded
September30,
2015
2014
231
196
(208)
137
117
473
170
206
(268)
198
24
330
42
86
(7)
46
167
September30,
2015

(millionsofdollars)
NineMonthsEnded
156
202
(200)
105
113
376
144
285
(300)
183

312
32
89
(9)
29
141
625
589
(622)
411
351
1,354
518
636
(819)
617
24
976
127
259
(21)
137
502
2014
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7.FinancialInstruments
Thefairvalueoffinancialinstrumentsisdeterminedbyreferencetoobservablemarketdataandothervaluationtechniquesasappropriate.The
onlycategoryoffinancialinstrumentswherethedifferencebetweenfairvalueandrecordedbookvalueisnotableislongtermdebt.Theestimated
fairvalueoftotallongtermdebt,excludingcapitalizedleaseobligations,was$19,064millionatSeptember30,2015,and$11,660millionat
December31,2014,ascomparedtorecordedbookvaluesof$18,790millionatSeptember30,2015,and$11,278millionatDecember31,2014.
TheincreaseintheestimatedfairvalueandbookvalueoflongtermdebtreflectstheCorporationsissuanceof$8.0billionoflongtermdebtinthe
firstquarterof2015.The$8.0billionoflongtermdebtiscomprisedof$500millionoffloatingratenotesduein2018,$500millionoffloating
ratenotesduein2022,$1,600millionof1.305%notesduein2018,$1,500millionof1.912%notesduein2020,$1,150millionof2.397%notes
duein2022,$1,750millionof2.709%notesduein2025,and$1,000millionof3.567%notesduein2045.
ThefairvalueoflongtermdebtbyhierarchylevelatSeptember30,2015,is:Level1$18,699millionLevel2$303millionandLevel3$62
million.Level1representsquotedpricesinactivemarkets.Level2includesdebtwhosefairvalueisbaseduponapubliclyavailableindex.Level
3involvesusinginternaldataaugmentedbyrelevantmarketindicatorsifavailable.
8.DisclosuresaboutSegmentsandRelatedInformation
ThreeMonthsEnded

NineMonthsEnded
September30,

September30,
2015

2014
2015

2014
(millionsofdollars)
EarningsAfterIncomeTax
Upstream
UnitedStates
(442)
1,257
(541)
NonU.S.
1,800
5,159
6,785
18,386
Downstream
UnitedStates
487
460
1,466
NonU.S.
1,546
564
3,740
Chemical
UnitedStates
526
765
1,866
NonU.S.
701
435
1,589
Allother
(378)
(570)
(1,535)
Corporatetotal
4,240
8,070
13,370
25,950
SalesandOtherOperatingRevenue(1)
Upstream
UnitedStates
2,115
3,773
6,471
11,533
NonU.S.
3,760
5,367
12,268
17,607
Downstream
UnitedStates
18,737
31,367
57,920
94,210
NonU.S.
34,033
52,580
103,691
157,044
Chemical
UnitedStates
2,718
3,920
8,298
11,546
NonU.S.
4,314
6,196
13,143
18,280
Allother
2
3
6
Corporatetotal
65,679
103,206
201,797
310,237
IntersegmentRevenue
Upstream
UnitedStates
NonU.S.
Downstream
UnitedStates
NonU.S.
Chemical
UnitedStates
NonU.S.
Allother
(1) Includessalesbasedtaxes
982
5,266
3,075
5,424
1,858
1,380
74
1,866
10,466
4,390
11,086
2,775
2,328
69
3,386
16,209
9,700
17,224
5,765
4,063
212
31,327
13,446
36,485
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Item2.Management'sDiscussionandAnalysisofFinancialConditionandResultsofOperations
FUNCTIONALEARNINGSSUMMARY
ThirdQuarter
FirstNineMonths
Earnings(U.S.GAAP)
2015
2014
2015
2014
(millionsofdollars)
Upstream
UnitedStates
(442)
1,257
(541)
NonU.S.
1,800
5,159
6,785
18,386
Downstream
UnitedStates
487
460
1,466
NonU.S.
1,546
564
3,740
Chemical
UnitedStates
526
765
1,866
NonU.S.
701
435
1,589
Corporateandfinancing
(378)
(570)
(1,535)
NetIncomeattributabletoExxonMobil(U.S.GAAP)
4,240
8,070
13,370
25,950

Earningspercommonshare(dollars)
1.01
1.89
3.18

Earningspercommonshareassumingdilution(dollars)
1.01
1.89
3.18
References in this discussion to corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the
consolidated income statement. Unless otherwise indicated, references to earnings, Upstream, Downstream, Chemical and
Corporate and Financing segment earnings, and earnings per share are ExxonMobil's share after excluding amounts
attributabletononcontrollinginterests.
REVIEWOFTHIRDQUARTER2015RESULTS
ExxonMobilsthirdquarter2015earningswere$4.2billion,or$1.01perdilutedshare,comparedwith$8.1billionayearearlier.Significantly
lowerUpstreamrealizationsmorethanoffsethigherDownstreamandChemicalearnings.
TheCorporationmaintainsarelentlessfocusonbusinessfundamentals,includingcostmanagement,regardlessofcommodityprices.Quarterly
resultsreflectthecontinuedstrengthofourDownstreamandChemicalbusinessesandunderscorethebenefitsofourintegratedbusinessmodel.
Upstreamproductionvolumesincreased2.3percent,or87,000barrelsperday,to3.9millionoilequivalentbarrelsperday.Liquidsvolumesof
2.3millionbarrelsperdayrose13percentdrivenbynewdevelopmentsinCanada,Indonesia,theUnitedStates,AngolaandNigeria.
Earningsinthefirstninemonthsof2015were$13.4billion,down$12.6billion,or48percent,from2014.
Earningspershare,assumingdilution,decreased47percentto$3.18.
Capitalandexplorationexpenditureswere$23.6billion,down16percentfrom2014.
Oilequivalentproductionincreased2.7percentfrom2014,withliquidsup10percentandnaturalgasdown5.7percent.
Thecorporationdistributed$11.5billiontoshareholdersinthefirstninemonthsof2015through$9billionindividendsand$2.5billioninshare
purchasestoreducesharesoutstanding.
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ThirdQuarter
FirstNineMonths
2015
2014
2015
(millionsofdollars)
Upstreamearnings
UnitedStates
(442)
1,257
(541)
NonU.S.
1,800
5,159
6,785
18,386
Total
1,358
6,416
6,244
22,080
Upstreamearningswere$1,358millioninthethirdquarterof2015,down$5,058millionfromthethirdquarterof2014.Lowerliquidsandgas
realizationsdecreasedearningsby$5.1billion,whilevolumeandmixeffects,drivenbynewdevelopments,increasedearningsby$110million.
Allotheritemsdecreasedearningsby$70million.
Onanoilequivalentbasis,productionincreased2.3percentfromthethirdquarterof2014.Liquidsproductiontotaled2.3millionbarrelsperday,
up266,000barrelsperday,withprojectrampupandentitlementeffectspartlyoffsetbyfielddecline.Naturalgasproductionwas9.5billioncubic
feetperday,down1.1billioncubicfeetperdayfrom2014duetoregulatoryrestrictionsintheNetherlandsandfielddecline,partlyoffsetby
projectvolumes.
U.S.Upstreamearningsdeclined$1,699millionfromthethirdquarterof2014toalossof$442millioninthethirdquarterof2015.NonU.S.
Upstreamearningswere$1,800million,down$3,359millionfromtheprioryear.
Upstreamearningswere$6,244millionforthefirstninemonthsof2015,down$15,836millionfrom2014.Lowerrealizationsdecreasedearnings
by$15.1billion.Favorablevolumeandmixeffectsincreasedearningsby$680million.Allotheritems,primarilytheabsenceofprioryearasset
managementgains,decreasedearningsby$1.5billion.
Onanoilequivalentbasis,productionof4millionbarrelsperdaywasup2.7percentcomparedtothesameperiodin2014.Liquidsproductionof
2.3millionbarrelsperdayincreased213,000barrelsperday,withprojectrampupandentitlementeffectspartlyoffsetbyfielddecline.Naturalgas
productionof10.5billioncubicfeetperdaydecreased630millioncubicfeetperdayfrom2014asregulatoryrestrictionsintheNetherlandsand
fielddeclinewerepartlyoffsetbyprojectrampupandentitlementeffects.
U.S.Upstreamearningsdeclined$4,235millionfrom2014toalossof$541millionforthefirstninemonthsof2015.EarningsoutsidetheU.S.
were$6,785million,down$11,601millionfromtheprioryear.
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Upstreamadditionalinformation
ThirdQuarter
FirstNineMonths
(thousandsofbarrelsdaily)
Volumesreconciliation(Oilequivalentproduction)(1)
2014
3,831
3,940
EntitlementsNetinterest
(32)
(26)
EntitlementsPrice/Spend/Other
132
159
Quotas
Divestments
(17)
(27)
Growth/Other
1
2015
3,918
4,047
(1)Gasconvertedtooilequivalentat6millioncubicfeet=1thousandbarrels.
ListedbelowaredescriptionsofExxonMobilsvolumesreconciliationfactorswhichareprovidedtofacilitateunderstandingoftheterms.
EntitlementsNetInterestarechangestoExxonMobilsshareofproductionvolumescausedbynonoperationalchangestovolumedetermining
factors. These factors consist of net interest changes specified in Production Sharing Contracts (PSCs) which typically occur when cumulative
investment returns or production volumes achieve defined thresholds, changes in equity upon achieving payout in partner investment carry
situations,equityredeterminationsasspecifiedinventureagreements,orasaresultoftheterminationorexpiryofaconcession.Onceanetinterest
changehasoccurred,ittypicallywillnotbereversedbysubsequentevents,suchaslowercrudeoilprices.
Entitlements Price, Spend and Other are changes to ExxonMobils share of production volumes resulting from temporary changes to non
operational volumedetermining factors. These factors include changes in oil and gas prices or spending levels from one period to another.
Accordingtothetermsofcontractualarrangementsorgovernmentroyaltyregimes,priceorspendingvariabilitycanincreaseordecreaseroyalty
burdensand/orvolumesattributabletoExxonMobil.Forexample,athigherprices,fewerbarrelsarerequiredforExxonMobiltorecoveritscosts.
These effects generally vary from period to period with field spending patterns or market prices for oil and natural gas. Such factors can also
includeothertemporarychangesinnetinterestasdictatedbyspecificprovisionsinproductionagreements.
QuotasarechangesinExxonMobilsallowableproductionarisingfromproductionconstraintsimposedbycountrieswhicharemembersofthe
OrganizationofthePetroleumExportingCountries(OPEC).Volumesreportedinthiscategorywouldhavebeenreadilyproducibleintheabsence
ofthequota.
DivestmentsarereductionsinExxonMobilsproductionarisingfromcommercialarrangementstofullyorpartiallyreduceequityinafieldorasset
inexchangeforfinancialorothereconomicconsideration.
GrowthandOtherfactorscompriseallotheroperationalandnonoperationalfactorsnotcoveredbytheabovedefinitionsthatmayaffectvolumes
attributable to ExxonMobil. Such factors include, but are not limited to, production enhancements from project and work program activities,
acquisitionsincludingadditionsfromassetexchanges,downtime,marketdemand,naturalfielddecline,andanyfiscalorcommercialtermsthatdo
notaffectentitlements.
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ThirdQuarter
2015
2014
(millionsofdollars)
FirstNineMonths
2015
Downstreamearnings
UnitedStates
487
460
1,466
NonU.S.
1,546
564
3,740
Total
2,033
1,024
5,206
Downstreamearningswere$2,033million,up$1,009millionfromthethirdquarterof2014.Strongermarginsincreasedearningsby$1.4billion.
Lower refining volumes due to higher maintenancerelated activities decreased earnings by $280 million. All other items, including
maintenancedrivenexpenditurespartlyoffsetbyfavorableforeignexchangeimpacts,decreasedearningsby$110million.Petroleumproductsales
of5.8millionbarrelsperdaywere211,000barrelsperdaylowerthantheprioryear.
Earnings from the U.S. Downstream were $487 million, up $27 million from the third quarter of 2014. NonU.S. Downstream earnings of
$1,546millionwere$982millionhigherthanlastyear.
Downstreamearningsof$5,206millionforthefirstninemonthsof2015increased$2,658millionfrom2014.Strongermarginsincreasedearnings
by$3.5billion.Volumeandmixeffectsdecreasedearningsby$280million.Allotheritems,includinghighermaintenanceexpense,decreased
earningsby$580million.Petroleumproductsalesof5.8millionbarrelsperdaywere107,000barrelsperdaylowerthan2014.
U.S.Downstreamearningswere$1,466million,adecreaseof$153millionfrom2014.NonU.S.Downstreamearningswere$3,740million,up
$2,811millionfromtheprioryear.
ThirdQuarter
2015
FirstNineMonths
2014
2015
(millionsofdollars)
Chemicalearnings
UnitedStates
526
765
1,866
NonU.S.
701
435
1,589
Total
1,227
1,200
3,455
Chemical earnings of $1,227 million were $27 million higher than the third quarter of 2014. Margins increased earnings by $210 million,
benefiting from lower feedstock costs. Volume mix effects increased earnings by $30 million. All other items, primarily unfavorable foreign
exchangeeffects,decreasedearningsby$210million.Thirdquarterprimeproductsalesof6.1millionmetrictonswere167,000metrictonslower
thantheprioryear'sthirdquarter.
Chemicalearningsof$3,455millionforthefirstninemonthsof2015increased$367millionfrom2014.Highermarginsincreasedearningsby
$790million.Favorablevolumemixeffectsincreasedearningsby$130million.Allotheritems,includingunfavorableforeignexchangeeffects
partly offset by asset management gains, decreased earnings by $560 million. Prime product sales of 18.2 million metric tons were down
287,000metrictonsfrom2014.
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ThirdQuarter
2015
FirstNineMonths
2014
2015
(millionsofdollars)
Corporateandfinancingearnings
(378)
(570)
(1,535)
Corporateandfinancingexpenseswere$378millionforthethirdquarterof2015,down$192millionfromthethirdquarterof2014drivenby
favorabletaxandfinancingitems.
Corporateandfinancingexpenseswere$1,535billioninthefirstninemonthsof2015,down$231millionfrom2014.
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LIQUIDITYANDCAPITALRESOURCES
ThirdQuarter
2015
2014
FirstNineMonths
2015
2014
(millionsofdollars)
Netcashprovidedby/(usedin)
Operatingactivities
25,964
37,701
Investingactivities
(18,500)
(18,128)
Financingactivities
(7,450)
(19,085)
Effectofexchangeratechanges
(334)
Increase/(decrease)incashandcashequivalents
(320)

Cashandcashequivalents(atendofperiod)
4,296
Cashandcashequivalentsrestricted(atendofperiod)

Totalcashandcashequivalents(atendofperiod)
4,296

Cashflowfromoperationsandassetsales

Netcashprovidedbyoperatingactivities(U.S.GAAP)
9,174
12,396
25,964
37,701
Proceedsassociatedwithsalesofsubsidiaries,property,

plant&equipment,andsalesandreturnsofinvestments
491
127
1,604
Cashflowfromoperationsandassetsales
9,665
12,523
27,568
41,495
Because of the ongoing nature of our asset management and divestment program, we believe it is useful for investors to
consider proceeds associated with asset sales together with cash provided by operating activities when evaluating cash
availableforinvestmentinthebusinessandfinancingactivities,includingshareholderdistributions.
Cashflowfromoperationsandassetsalesinthethirdquarterof2015was$9.7billion,includingassetsalesof$0.5billion,adecreaseof$2.8
billionfromthecomparable2014periodduetolowerearningspartiallyoffsetbyhigherproceedsfromassetsales.
Cashprovidedbyoperatingactivitiestotaled$26.0billionforthefirstninemonthsof2015,$11.7billionlowerthan2014.Themajorsourceof
fundswasnetincomeincludingnoncontrollinginterestsof$13.7billion,adecreaseof$13.1billionfromtheprioryearperiod.Theadjustmentfor
thenoncashprovisionof$13.3billionfordepreciationanddepletionincreasedby$0.5billion.Changesinoperationalworkingcapitaldecreased
cashflowsby$1.0billionin2015and$0.5billionin2014.Allotheritemsnethadnoimpactoncashin2015anddecreasedcashby$1.5billion
in2014.Foradditionaldetails,seetheCondensedConsolidatedStatementofCashFlowsonpage6.
Investingactivitiesforthefirstninemonthsof2015usednetcashof$18.5billion,adecreaseof$0.4billioncomparedtotheprioryear.Spending
for additions to property, plant and equipment of $20.4 billion was $3.7 billion lower than 2014. Proceeds from asset sales of $1.6 billion
decreased$2.2billion.Additionalinvestmentandadvancesdecreased$0.9billionto$0.4billion.Otherinvestingactivitiesnetdecreased$2.7
billionto$0.7billion.
Cashflowfromoperationsandassetsalesinthefirstninemonthsof2015was$27.6billion,includingassetsalesof$1.6billion,anddecreased
$13.9billionfromthecomparable2014periodprimarilyduetolowerearningsandlowerproceedsfromassetsales.
Duringthefirstquarterof2015,theCorporationissued$8.0billionoflongtermdebtandusedpartoftheproceedstoreduceshorttermdebt.Net
cash used in financing activities of $7.5 billion in the first nine months of 2015 was $11.6 billion lower than 2014 reflecting the 2015 debt
issuanceandalowerlevelofpurchasesofsharesofExxonMobilstockin2015.
Duringthethirdquarterof2015,ExxonMobilCorporationpurchased6.5millionsharesofitscommonstockforthetreasuryatagrosscostof
$500million.Thesepurchasesweretoreducethenumberofsharesoutstanding.Sharesoutstandingdecreasedfrom4,169millionattheendof
second quarter to 4,163 million at the end of the third quarter 2015. Purchases may be made in both the open market and through negotiated
transactions,andmaybeincreased,decreasedordiscontinuedatanytimewithoutpriornotice.
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TheCorporationdistributedtoshareholdersatotalof$3.6billioninthethirdquarterof2015throughdividendsandsharepurchasestoreduce
sharesoutstanding.
Totalcashandcashequivalentsof$4.3billionattheendofthethirdquarterof2015comparedto$5.0billionattheendofthethirdquarterof
2014.
Totaldebtof$34.3billioncomparedto$29.1billionatyearend2014.TheCorporation'sdebttototalcapitalratiowas16.2percentattheendof
thethirdquarterof2015comparedto13.9percentatyearend2014.
The Corporation has access to significant capacity of longterm and shortterm liquidity. Internally generated funds are expected to cover the
majorityoffinancialrequirements,supplementedbylongtermandshorttermdebt.
TheCorporation,aspartofitsongoingassetmanagementprogram,continuestoevaluateitsmixofassetsforpotentialupgrade.Becauseofthe
ongoingnatureofthisprogram,dispositionswillcontinuetobemadefromtimetotimewhichwillresultineithergainsorlosses.Additionally,
theCorporationcontinuestoevaluateopportunitiestoenhanceitsbusinessportfoliothroughacquisitionsofassetsorcompanies,andentersinto
suchtransactionsfromtimetotime.Keycriteriaforevaluatingacquisitionsincludepotentialforfuturegrowthandattractivecurrentvaluations.
Acquisitionsmaybemadewithcash,sharesoftheCorporationscommonstock,orboth.
LitigationandothercontingenciesarediscussedinNote3totheunauditedcondensedconsolidatedfinancialstatements.

TAXES
ThirdQuarter
FirstNineMonths
2015
2014
2015
2014
(millionsofdollars)
Incometaxes
1,365
5,064
5,617
15,955
Effectiveincometaxrate
32%
43%
37%
Salesbasedtaxes
5,813
7,519
17,308
22,806
Allothertaxesandduties
7,585
9,060
22,454
27,223
Total
14,763
21,643
45,379
65,984
Income,salesbasedandallothertaxesanddutiestotaled$14.8billionforthethirdquarterof2015,adecreaseof$6.9billionfrom2014.Income
taxexpensedecreasedby$3.7billionto$1.4billionreflectinglowerearningsandalowereffectivetaxrate.Theeffectiveincometaxratewas32
percentcomparedto43percentintheprioryearperiodduetofavorableonetimeitemsandalowershareofearningsinhighertaxjurisdictions
Salesbasedtaxesandallothertaxesanddutiesdecreasedby$3.2billionto$13.4billionasaresultoflowersalesrealizations.
Income,salesbasedandallothertaxesanddutiestotaled$45.4billionforthefirstninemonthsof2015,adecreaseof$20.6billionfrom2014.
Incometaxexpensedecreasedby$10.3billionto$5.6billionasaresultoflowerearningsandalowereffectivetaxrate.Theeffectiveincometax
ratewas37percentcomparedto43percentintheprioryeardueprimarilytoalowershareofearningsinhighertaxjurisdictions.Salesbasedand
allothertaxesdecreasedby$10.3billionto$39.8billionasaresultoflowersalesrealizations.
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CAPITALANDEXPLORATIONEXPENDITURES
ThirdQuarter
FirstNineMonths
2015
2014
2015
2014
(millionsofdollars)
Upstream(includingexplorationexpenses)
6,374
8,424
19,537
24,082
Downstream
586
780
1,834
2,002
Chemical
669
626
2,151
1,970
Other
41
7
113
19
Total
7,670
9,837
23,635
28,073
Capitalandexplorationexpendituresinthethirdquarterof2015were$7.7billion,down22percentfromthethirdquarterof2014,inlinewith
plan.
Capitalandexplorationexpendituresinthefirstninemonthsof2015were$23.6billion,down16percentfromthefirstninemonthsof2014due
primarilytolowermajorprojectspending.TheCorporationanticipatesanaverageinvestmentprofileofabout$34billionperyearforthenextfew
years.Actualspendingcouldvarydependingontheprogressofindividualprojectsandpropertyacquisitions.
In2014,theEuropeanUnionandUnitedStatesimposedsanctionsrelatingtotheRussianenergysector.ExxonMobilcontinuestocomplywithall
sanctionsandregulatorylicensesapplicabletoitsaffiliatesinvestmentsintheRussianFederation.
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RECENTLYISSUEDACCOUNTINGSTANDARDS
InMay2014,theFinancialAccountingStandardsBoardissuedanewstandard,RevenuefromContractswithCustomers.Thestandardestablishes
asinglerevenuerecognitionmodelforallcontractswithcustomers,eliminatesindustryspecificrequirementsandexpandsdisclosurerequirements.
The standard is required to be adopted beginning January 1, 2018. ExxonMobil is evaluating the standard and its effect on the Corporations
financialstatements.
FORWARDLOOKINGSTATEMENTS
Statementsrelatingtofutureplans,projections,eventsorconditionsareforwardlookingstatements.Actualresults,includingprojectplans,costs,
timing,andcapacitiescapitalandexplorationexpendituresresourcerecoveriesandsharepurchaselevels,coulddiffermateriallyduetofactors
including:changesinoilorgaspricesorothermarketoreconomicconditionsaffectingtheoilandgasindustry,includingthescopeandduration
of economic recessions the outcome of exploration and development efforts changes in law or government regulation, including tax and
environmentalrequirementstheoutcomeofcommercialnegotiationschangesintechnicaloroperatingconditionsandotherfactorsdiscussed
undertheheading"FactorsAffectingFutureResults"intheInvestorssectionofourwebsiteandinItem1AofExxonMobil's2014Form10K.
Weassumenodutytoupdatethesestatementsasofanyfuturedate.
Thetermprojectasusedinthisreportcanrefertoavarietyofdifferentactivitiesanddoesnotnecessarilyhavethesamemeaningasinany
governmentpaymenttransparencyreports.
Item3.QuantitativeandQualitativeDisclosuresAboutMarketRisk
InformationaboutmarketrisksfortheninemonthsendedSeptember30,2015,doesnotdiffermateriallyfromthatdiscussedunderItem7Aofthe
registrant'sAnnualReportonForm10Kfor2014.
Item4.ControlsandProcedures
AsindicatedinthecertificationsinExhibit31ofthisreport,theCorporationsChiefExecutiveOfficer,PrincipalFinancialOfficerandPrincipal
AccountingOfficerhaveevaluatedtheCorporationsdisclosurecontrolsandproceduresasofSeptember30,2015.Basedonthatevaluation,these
officers have concluded that the Corporations disclosure controls and procedures are effective in ensuring that information required to be
disclosedbytheCorporationinthereportsthatitfilesorsubmitsundertheSecuritiesExchangeActof1934,asamended,isaccumulatedand
communicated to them in a manner that allows for timely decisions regarding required disclosures and are effective in ensuring that such
informationisrecorded,processed,summarizedandreportedwithinthetimeperiodsspecifiedintheSecuritiesandExchangeCommissionsrules
andforms.TherewerenochangesduringtheCorporationslastfiscalquarterthatmateriallyaffected,orarereasonablylikelytomateriallyaffect,
theCorporationsinternalcontroloverfinancialreporting.
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PARTII.OTHERINFORMATION
Item1.LegalProceedings
FollowingExxonMobilOilCorporations(EMOC)selfreportingofanairemissioneventattheExxonMobilBeaumontChemicalPlantwhich
exceeded provisions of the Texas Administrative Code and Texas Health and Safety Code, the Texas Commission on Environmental Quality
(TCEQ),onSeptember17,2015,notifiedEMOCthatTCEQwasseekingapenaltyof$150,000inconnectionwiththeincident.
AslastreportedintheCorporationsForm10Qforthefirstquarterof2015,ExxonMobilPipelineCompany(EMPCo),theUnitedStatesandthe
StateofArkansasreachedagreementonaConsentDecreetoresolvetheenforcementactionrelatedtothedischargeofcrudeoilfromthePegasus
PipelineinMayflower,FaulknerCounty,Arkansas.UnderthetermsoftheConsentDecree,EMPCowastomakeseveralprocesschangesandto
paya$3.19millioncivilpenaltytotheUnitedStatesand$1.88milliontotheStateofArkansasconsistingofa$1millioncivilpenalty,$600,000
towardsasupplementalenvironmentalprojectand$280,000toreimburseexpensesoftheArkansasAttorneyGeneralsOffice.TheUnitedStates
DistrictCourtfortheEasternDistrictofArkansasapprovedtheConsentDecreeonAugust12,2015andEMPCohasmadeallpaymentsrequired
bytheConsentDecree,withtheexceptionoftheSupplementalEnvironmentalProjectportionwhichcontinuestobeprogressedascontemplated
undertheConsentDecree.InamatterrelatedtothesamedischargeofcrudeoilfromthePegasusPipeline,onOctober1,2015,thePipelineand
HazardousMaterialsSafetyAdministrationissuedaFinalOrderarisingfromaNovember2013NoticeofProbableViolationallegingthatEMPCo
violatedmultiplefederalPipelineSafetyRegulations.TheFinalOrderimposedapenaltyof$2,630,400onEMPCo.EMPCohasfiledaPetitionfor
ReconsiderationoftheFinalOrder.TheFinalOrderanddemandedpenaltyarestayed.
AsreportedintheCorporationsForm10Kfor2014andForm10Qforthesecondquarterof2012,ChalmetteRefiningLLC(CRLLC),atthetime
theowneroftheChalmetteRefinery(thenoperatedbyEMOC),andtheLouisianaDepartmentofEnvironmentalQuality,wereindiscussionsto
resolve selfreported deviations from refinery operations and relating to certain Clean Air Act Title V permit conditions, limits and other
requirements.OnJune17,2015,EMOC,MobilPipeLineCompany,andPDVChalmetteLLC,thethreeholdersofownershipinterestsinCRLLC,
enteredintoanAgreementwithPBFHoldingCompanyLLC(PBF)toselltheirownershipintereststoPBF.Theagreementprovidesthat,atchange
in control, which occurred on November 1, 2015, PBF would assume the environmental liabilities of CRLLC, including any potential fines,
penalties,orenforcementactionrelatingtohistoricalTitleVdeviationsarisingfromtheoperationoftherefinery.
RefertotherelevantportionsofNote3ofthisQuarterlyReportonForm10Qforfurtherinformationonlegalproceedings.
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Item2.UnregisteredSalesofEquitySecuritiesandUseofProceeds
IssuerPurchaseofEquitySecuritiesforQuarterEndedSeptember30,2015
Period
TotalNumber
ofShares
Purchased
Average
PricePaid
perShare
TotalNumberof
SharesPurchased
asPartofPublicly
AnnouncedPlans
orPrograms
MaximumNumber
ofSharesthatMay
YetBePurchased
UnderthePlansor
Programs
July2015
2,137,699
$81.99
2,137,699
August2015
2,198,427
$75.84
2,198,427
September2015
2,176,981
$73.02
2,176,981
Total
$76.91
(SeeNote1)
6,513,107
6,513,107
Note1OnAugust1,2000,theCorporationannounceditsintentiontoresumepurchasesofsharesofitscommonstockforthetreasurybothto
offset shares issued in conjunction with company benefit plans and programs and to gradually reduce the number of shares outstanding. The
announcementdidnotspecifyanamountorexpirationdate.TheCorporationhascontinuedtopurchasesharessincethisannouncementandto
reportpurchasedvolumesinitsquarterlyearningsreleases.InitsmostrecentearningsreleasedatedOctober30,2015,theCorporationstatedthat
fourthquarter2015sharepurchasestoreducesharesoutstandingareanticipatedtoequal$500million.Purchasesmaybemadeinboththeopen
marketandthroughnegotiatedtransactions,andpurchasesmaybeincreased,decreasedordiscontinuedatanytimewithoutpriornotice.
Item6.Exhibits
Exhibit
Description
31.1
31.2
31.3
32.1
32.2
32.3
101
Certification(pursuanttoSecuritiesExchangeActRule13a14(a))byChiefExecutiveOfficer.
Certification(pursuanttoSecuritiesExchangeActRule13a14(a))byPrincipalFinancialOfficer.
Certification(pursuanttoSecuritiesExchangeActRule13a14(a))byPrincipalAccountingOfficer.
Section1350Certification(pursuanttoSarbanesOxleySection906)byChiefExecutiveOfficer.
Section1350Certification(pursuanttoSarbanesOxleySection906)byPrincipalFinancialOfficer.
Section1350Certification(pursuanttoSarbanesOxleySection906)byPrincipalAccountingOfficer.
InteractiveDataFiles.
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SIGNATURE
PursuanttotherequirementsoftheSecuritiesExchangeActof1934,theRegistranthasdulycausedthisreporttobesignedonitsbehalfbythe
undersigned,thereuntodulyauthorized.
Date:November4,2015
By:
/s/DAVIDS.ROSENTHAL
DavidS.Rosenthal
VicePresident,Controllerand
PrincipalAccountingOfficer
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INDEXTOEXHIBITS
Exhibit
Description
31.1
31.2
31.3
32.1
32.2
32.3
101
Certification(pursuanttoSecuritiesExchangeActRule13a14(a))byChiefExecutiveOfficer.
Certification(pursuanttoSecuritiesExchangeActRule13a14(a))byPrincipalFinancialOfficer.
Certification(pursuanttoSecuritiesExchangeActRule13a14(a))byPrincipalAccountingOfficer.
Section1350Certification(pursuanttoSarbanesOxleySection906)byChiefExecutiveOfficer.
Section1350Certification(pursuanttoSarbanesOxleySection906)byPrincipalFinancialOfficer.
Section1350Certification(pursuanttoSarbanesOxleySection906)byPrincipalAccountingOfficer.
InteractiveDataFiles.
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Exxon Mobil Corporation: United States Securities and Exchange Commission FORM 10 Q

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