Summary
ExxonMobil Corporation's 2015 Form 10-K reflects a challenging year for the energy giant, marked by a significant decline in net income attributable to ExxonMobil, dropping to $16.15 billion from $32.52 billion in 2014. This decrease was primarily driven by lower crude oil and natural gas prices, which impacted the Upstream segment's earnings significantly, resulting in a loss for the U.S. Upstream operations. Despite these headwinds, the company maintained substantial revenue and operations, with a global workforce of approximately 73,500 employees. ExxonMobil continued its commitment to long-term investments, including capital expenditures of $31.1 billion, focusing on growth opportunities across its Upstream, Downstream, and Chemical segments, particularly in areas like North America, Canada, and Australia. The company's strategic focus remained on maintaining financial strength, disciplined capital investment, and operational efficiency. Despite the commodity price downturn, ExxonMobil's integrated business model and diversified operations provided a degree of resilience. The report also highlights the company's ongoing efforts in environmental stewardship and its preparedness for future energy demands, emphasizing its long-term outlook for global energy consumption, with projected growth driven by developing economies and an increasing demand for electricity and transportation fuels.
Financial Highlights
47 data points| Revenue | $239.85B |
| R&D Expenses | $1.01B |
| SG&A Expenses | $11.50B |
| Operating Expenses | $227.28B |
| Interest Expense | $311.00M |
| Net Income | $16.15B |
| EPS (Basic) | $3.85 |
| EPS (Diluted) | $3.85 |
| Shares Outstanding (Basic) | 4.20B |
Key Highlights
- 1Net income attributable to ExxonMobil decreased by nearly 50% to $16.15 billion in 2015, down from $32.52 billion in 2014, primarily due to lower commodity prices.
- 2Upstream segment earnings significantly declined, with U.S. Upstream operations reporting a loss of $1.08 billion, compared to a profit of $5.20 billion in 2014.
- 3ExxonMobil reported total capital and exploration expenditures of $31.1 billion for 2015, with a projected $23.2 billion for 2016, indicating continued investment in growth projects.
- 4The company's production levels remained robust, with oil-equivalent production at 4.1 million barrels per day in 2015, an increase from 4.0 million barrels per day in 2014.
- 5Long-term debt increased significantly to $19.9 billion from $11.7 billion in 2014, partly due to debt issuance in the first quarter of 2015.
- 6The company continued its share repurchase program, buying back 48 million shares for $4.0 billion in 2015, while also increasing dividends per common share to $2.88.
- 7Environmental expenditures for 2015 totaled $5.6 billion, reflecting ongoing efforts to minimize the impact of operations.