Summary
ExxonMobil's 2009 10-K filing reveals a challenging year marked by a significant decline in earnings compared to the record performance of 2008, primarily due to lower commodity prices. Despite the downturn, the company maintained its strong financial position and operational capabilities across its Upstream, Downstream, and Chemical segments. The report highlights substantial capital expenditures focused on future growth, particularly in exploration and development, with a notable mention of the pending XTO Energy acquisition aimed at bolstering natural gas resources. Key financial metrics show a decrease in sales and revenue, reflecting the economic environment, but the company's disciplined investment approach and focus on long-term value creation remain evident. ExxonMobil continued to manage its vast portfolio of assets effectively, engaging in various development projects globally while also pursuing strategic divestments. The company's commitment to shareholder returns is underscored by consistent dividend payments and ongoing share repurchases, demonstrating resilience and a focus on long-term shareholder value.
Financial Highlights
46 data points| Revenue | $301.50B |
| R&D Expenses | $1.05B |
| SG&A Expenses | $14.73B |
| Operating Expenses | $275.81B |
| Interest Expense | $548.00M |
| Net Income | $19.28B |
| EPS (Basic) | $3.99 |
| EPS (Diluted) | $3.98 |
Key Highlights
- 1Earnings significantly declined in 2009 to $19.28 billion from $45.22 billion in 2008, largely due to lower commodity prices.
- 2Sales and other operating revenue decreased to $301.5 billion in 2009 from $459.6 billion in 2008.
- 3The company made substantial capital and exploration expenditures of $27.1 billion in 2009, with plans to maintain this level of investment in the coming years.
- 4ExxonMobil announced an agreement to merge with XTO Energy Inc. in December 2009, a move aimed at significantly expanding its natural gas portfolio.
- 5Proved reserves at year-end 2009 totaled 22.985 billion oil-equivalent barrels, with 33% classified as proved undeveloped.
- 6The company continued its share repurchase program, purchasing approximately 277 million shares for $19.7 billion in 2009, aimed at reducing outstanding shares and offsetting those issued for benefit plans.
- 7Despite the economic downturn, ExxonMobil maintained its strong financial position, with its long-term debt securities retaining their AAA/Aaa credit rating for the 91st consecutive year.