10-KPeriod: FY2011

EXXON MOBIL CORP Annual Report, Year Ended Dec 31, 2011

Filed February 24, 2012For Securities:XOM

Summary

ExxonMobil Corporation's 2011 10-K filing highlights a year of robust performance driven by strong Upstream earnings, benefiting from higher crude oil and natural gas realizations. The company demonstrated significant operational scale and integration across its Upstream, Downstream, and Chemical segments, with a strong focus on disciplined capital investment and operational excellence. Despite challenging downstream market conditions, ExxonMobil maintained its commitment to shareholder returns through dividends and share repurchases, underpinned by a solid financial position and ample liquidity. The report also details substantial investments in future growth opportunities and the company's ongoing efforts in environmental stewardship and safety management, while acknowledging various risk factors inherent in the global energy sector.

Financial Highlights

49 data points
Beta

Revenue

$467.03B

Net Income

$41.06B

8.8% Net Margin

EPS (Diluted)

$8.42

Total Assets

$331.05B

Cash & Equivalents

$12.66B

Free Cash Flow

$24.37B

Financial Statements
Beta
Revenue$467.03B
R&D Expenses$1.04B
SG&A Expenses$14.98B
Operating Expenses$413.17B
Interest Expense$247.00M
Net Income$41.06B
EPS (Basic)$8.43
EPS (Diluted)$8.42
Shares Outstanding (Basic)4.87B
Shares Outstanding (Diluted)4.88B

Key Highlights

  • 1ExxonMobil reported substantial earnings growth in 2011, largely driven by improved Upstream segment performance due to higher crude oil and natural gas prices.
  • 2The company's disciplined investment strategy resulted in significant capital and exploration expenditures, focusing on developing new energy supplies and enhancing operational efficiency across its global portfolio.
  • 3Strong financial health was maintained, with significant cash flow generation from operations and asset sales, enabling substantial shareholder returns through dividends and share repurchases.
  • 4The Downstream segment faced challenging market conditions with intense competition and increasing refining capacity, though marketing of lubricants and specialties showed growth.
  • 5The Chemical segment experienced modest demand growth globally, with North America benefiting from advantaged ethane feedstock, while specialty products performed well.
  • 6The company's extensive oil and gas reserve base, totaling over 24.9 billion oil-equivalent barrels, provides a strong foundation for future production capacity and growth.
  • 7ExxonMobil continues to invest in technology and innovation, supporting its long-term business outlook for global energy demand and supply.

Frequently Asked Questions

ExxonMobil reported strong financial performance in 2011, with net income attributable to ExxonMobil of $41,060 million, an increase from $30,460 million in 2010. This growth was primarily driven by higher earnings in the Upstream segment due to increased crude oil and natural gas realizations.

The Upstream segment was the primary earnings driver, with earnings of $34,439 million, up significantly from $24,097 million in 2010, due to higher commodity prices. The Downstream segment earned $4,459 million, an increase from $3,567 million in 2010, despite challenging market conditions. The Chemical segment reported earnings of $4,383 million, a decrease from $4,913 million in 2010, impacted by lower volumes and other items.

ExxonMobil's capital and exploration expenditures totaled $36.8 billion in 2011, reflecting continued active investment. The majority of this spending, $33.1 billion, was directed towards the Upstream segment, supporting development projects in major resource opportunities and ongoing exploration activities, particularly in Australia, Canada, and Papua New Guinea, as well as unconventional gas activities in the U.S.

ExxonMobil maintained a strong financial position in 2011, with cash flow from operations and asset sales totaling $66.5 billion. The company returned significant value to shareholders through $9.0 billion in dividend payments and $22.1 billion in share repurchases, demonstrating a commitment to robust shareholder returns and financial flexibility.