Summary
ExxonMobil Corporation's 2013 10-K filing reveals a company navigating a dynamic energy landscape. Despite a decrease in net income attributable to ExxonMobil in 2013 compared to the strong performance in 2012, the company maintained robust operations across its Upstream, Downstream, and Chemical segments. The Upstream segment, while experiencing lower liquids realizations, benefited from higher gas realizations and maintained production levels, with a notable shift towards more unconventional and diverse resource types expected in the coming years. The Downstream segment faced margin pressures due to overcapacity and demand weakness, though North American refining margins saw some strengthening. The Chemical segment experienced growth in demand, particularly in Asia, but saw margins decline due to increased industry capacity. ExxonMobil's financial health remains strong, characterized by significant cash flow from operations and a disciplined approach to capital allocation, including substantial investments in property, plant, and equipment to support future growth and the ongoing development of new energy supplies.
Financial Highlights
48 data points| Revenue | $420.84B |
| R&D Expenses | $1.04B |
| SG&A Expenses | $12.88B |
| Operating Expenses | $380.54B |
| Interest Expense | $9.00M |
| Net Income | $32.58B |
| EPS (Basic) | $7.37 |
| EPS (Diluted) | $7.37 |
| Shares Outstanding (Basic) | 4.42B |
| Shares Outstanding (Diluted) | 4.42B |
Key Highlights
- 1ExxonMobil reported net income attributable to ExxonMobil of $32.6 billion for 2013, a decrease from $44.9 billion in 2012, reflecting a challenging market environment.
- 2Upstream segment earnings decreased to $26.8 billion from $29.9 billion in 2012, impacted by lower liquids realizations, although higher gas realizations provided some offset.
- 3Downstream segment earnings significantly decreased to $3.4 billion from $13.2 billion in 2012, largely due to the absence of a large gain from a Japan restructuring in the prior year and lower refining margins.
- 4Chemical segment earnings slightly decreased to $3.8 billion from $3.9 billion in 2012, influenced by higher margins offsetting the absence of the Japan restructuring gain.
- 5The company maintained a strong financial position with cash flow from operations totaling $44.9 billion in 2013.
- 6Capital and exploration expenditures were $42.5 billion in 2013, with continued investment in Upstream projects globally, including significant outlays in Canada, Australia, and Papua New Guinea.
- 7ExxonMobil repurchased approximately 177 million shares of its common stock for $16.0 billion in 2013, continuing its strategy to reduce outstanding shares.