Exxon Mobil : First Quarter 2022 Earnings Supplement - MS Excel version
April 29, 2022 at 07:35 am EDT
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IR Data Page 1 of 4
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EXHIBIT 99.2
To assist investors in assessing 1Q22 results, the following disclosures have been made available in this 8-K filing:
Identified items of $(0.79) per share assuming dilution, as noted on page 1 of the news release
A reconciliation of cash flow from operations and asset sales excluding working capital on page 1 of this exhibit and on page 7 of the news release
1Q22 INVESTOR RELATIONS DATA SUMMARY (PAGE 1 of 4)
Earnings (Loss), $M (unless noted)
1Q22
4Q21
3Q21
2Q21
1Q21
Upstream
United States
2,376
1,768
869
663
363
Non-U.S.
2,112
4,317
3,082
2,522
2,191
Total
4,488
6,085
3,951
3,185
2,554
Downstream
United States
685
913
663
(149)
(113)
Non-U.S.
(353)
554
592
(78)
(277)
Total
332
1,467
1,255
(227)
(390)
Chemical
United States
819
1,322
1,183
1,282
715
Non-U.S.
535
599
957
1,038
700
Total
1,354
1,921
2,140
2,320
1,415
Corporate and financing
(694)
(603)
(596)
(588)
(849)
Net income attributable to ExxonMobil (U.S. GAAP)
5,480
8,870
6,750
4,690
2,730
Earnings per common share (U.S. GAAP)
1.28
2.08
1.57
1.10
0.64
Earnings per common share - assuming dilution (U.S. GAAP)
1.28
2.08
1.57
1.10
0.64
Effective Income Tax Rate, %
40 %
28 %
33 %
30 %
33 %
Capital and Exploration Expenditures, $M
1Q22
4Q21
3Q21
2Q21
1Q21
Upstream
United States
1,369
1,307
976
925
810
Non-U.S.
2,510
2,934
1,863
1,892
1,547
Total
3,879
4,241
2,839
2,817
2,357
Downstream
United States
394
337
199
193
271
Non-U.S.
183
367
267
262
199
Total
577
704
466
455
470
Chemical
United States
234
461
385
313
208
Non-U.S.
214
401
160
217
98
Total
448
862
545
530
306
Other
-
1
1
1
-
Total Capital and Exploration Expenditures
4,904
5,808
3,851
3,803
3,133
Exploration expenses, including dry holes
173
524
190
176
164
Cash Capital Expenditures, $M
1Q22
4Q21
3Q21
2Q21
1Q21
Additions to property, plant and equipment
3,911
4,089
2,840
2,747
2,400
Net investments and advances
327
622
232
219
262
Total Cash Capital Expenditures
4,238
4,711
3,072
2,966
2,662
Total Cash and Cash Equivalents, $G
11.1
6.8
4.8
3.5
3.5
Total Debt, $G
47.5
47.7
56.6
60.6
63.3
Cash Flow from Operations and Asset Sales, $M
1Q22
4Q21
3Q21
2Q21
1Q21
Net cash provided by operating activities
14,788
17,124
12,091
9,650
9,264
Proceeds associated with asset sales
293
2,601
18
250
307
Cash flow from operations and asset sales
15,081
19,725
12,109
9,900
9,571
Changes in operational working capital
(1,086)
(1,930)
(659)
380
(1,953)
Adjusted Cash flow from operations and asset sales
13,995
17,795
11,450
10,280
7,618
Common Shares Outstanding, millions
1Q22
4Q21
3Q21
2Q21
1Q21
At quarter end
4,213
4,239
4,234
4,234
4,234
Average - assuming dilution
4,266
4,275
4,276
4,276
4,272
IR Data Page 2 of 4
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1Q22 INVESTOR RELATIONS DATA SUMMARY (PAGE 2 of 4)
Upstream Volumes
1Q22
4Q21
3Q21
2Q21
1Q21
Liquids production (kbd) ¹
United States
753
770
758
687
665
Canada / Other Americas
474
571
569
529
575
Europe
4
17
21
16
35
Africa
257
235
248
254
253
Asia
738
752
668
669
691
Australia / Oceania
40
40
49
45
39
Total liquids production
2,266
2,385
2,313
2,200
2,258
¹ Net production of crude oil, natural gas liquids, bitumen and synthetic oil, kbd
Natural gas production (mcfd)
United States
2,777
2,713
2,701
2,804
2,767
Canada / Other Americas
182
189
184
189
216
Europe
770
844
343
654
1,403
Africa
58
48
53
46
24
Asia
3,340
3,468
3,365
3,433
3,599
Australia / Oceania
1,325
1,322
1,464
1,168
1,164
Total natural gas production available for sale
8,452
8,584
8,110
8,294
9,173
Total worldwide liquids and gas production, koebd ²
3,675
3,816
3,665
3,582
3,787
² Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.
Manufacturing Throughput and Sales
1Q22
4Q21
3Q21
2Q21
1Q21
Refinery throughput, kbd
United States
1,685
1,740
1,684
1,532
1,532
Canada
399
416
404
332
364
Europe
1,193
1,246
1,215
1,223
1,153
Asia Pacific
537
546
585
607
545
Other Non-U.S.
169
170
163
164
157
Total refinery throughput
3,983
4,118
4,051
3,858
3,751
Petroleum product sales, kbd
United States
2,256
2,383
2,346
2,218
2,077
Canada
442
488
472
421
409
Europe
1,345
1,384
1,404
1,297
1,272
Asia Pacific
644
643
648
655
665
Other Non-U.S.
471
493
457
450
458
Total petroleum product sales
5,158
5,391
5,327
5,041
4,881
Gasolines, naphthas
2,114
2,325
2,191
2,117
1,996
Heating oils, kerosene, diesel
1,722
1,804
1,796
1,704
1,692
Aviation fuels
289
267
228
201
183
Heavy fuels
249
265
276
275
257
Specialty products
784
730
836
744
753
Total petroleum product sales
5,158
5,391
5,327
5,041
4,881
Chemical prime product sales, kt
United States
2,704
2,512
2,531
2,491
2,190
Non-U.S.
4,033
4,189
4,141
4,022
4,256
Total chemical prime product sales
6,737
6,701
6,672
6,513
6,446
IR Data Page 3 of 4
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1Q22 INVESTOR RELATIONS DATA SUMMARY (PAGE 3 of 4)
Earnings Factor Analysis, $M
1Q22 vs 1Q21
1Q22 vs 4Q21
2022 vs. 2021 (YTD)
Upstream
Prior Period
2,554
6,085
2,554
Realization
5,930
2,160
5,930
Market prices
-
Other margin impacts
Other
Volume / Mix
(810)
(950)
-810
Other
(3,190)
(2,810)
-3,190
Expenses
(80)
230
-80
Identified Items
(3,260)
(2,710)
-3,260
Forex
Other
150
(330)
150
Current Period
4,488
4,488
4,488
Downstream
Prior Period
(390)
1,467
(390)
Margin
310
(1,040)
1,920
Industry Margin
1,190
310
Unsettled derivatives
(600)
(760)
Price timing
(280)
(590)
Volume / Mix
180
(280)
100
Planned Maintenance
Demand
Turnaround - Manufacturing
Other - Manufacturing
Other
230
190
1,160
Expenses
(40)
160
560
Expenses - other
Identified Items
-
-
-
Other
270
30
600
Current Period
332
332
332
Chemical
Prior Period
1,415
1,921
1,415
Margin
(20)
(240)
4,480
Planned Maintenance
-
Demand
4,480
Volume / Mix
70
100
250
Planned Maintenance
Demand
Other
(110)
(430)
1,100
Expenses
(100)
150
80
Expenses - other
Identified Items
-
(630)
-
Other
(10)
50
1,020
Current Period
1,354
1,354
1,354
Upstream Volume Factor Analysis, koebd
1Q22 vs 1Q21
1Q22 vs 4Q21
2022 vs. 2021 (YTD)
Prior Period
3,787
3,816
3,787
Downtime / Maintenance
(70)
(121)
5
Growth / Decline
59
17
-11
Entitlements / Divestments
(136)
(85)
-122
Government Mandates
113
32
8
Other
(78)
16
71
Current Period
3,675
3,675
3,675
IR Data Page 4 of 4
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1Q22 INVESTOR RELATIONS DATA SUMMARY (PAGE 4 of 4)
Average Realization Data
1Q22
4Q21
3Q21
2Q21
1Q21
United States
ExxonMobil
Crude ($/b)
93.51
73.62
67.62
63.29
56.20
Natural Gas ($/kcf)
4.80
4.96
3.33
2.78
3.36
Benchmarks
WTI ($/b)
94.49
77.34
70.58
66.09
57.84
ANS-WC ($/b)
95.43
79.75
72.70
68.51
60.76
Henry Hub ($/mmBtu)
4.96
5.84
4.02
2.83
2.71
Non-U.S.
ExxonMobil
Crude ($/b)
89.71
69.97
64.89
60.52
53.41
Natural Gas ($/kcf)
16.42
14.32
9.03
6.76
6.13
European NG ($/kcf)
24.10
18.95
10.81
6.76
5.87
Benchmarks
Brent ($/b)
101.41
79.73
73.47
68.83
60.90
The above numbers reflect ExxonMobil's current estimate of volumes and realizations given data available as of the end of the first quarter of 2022. Volumes and realizations may be adjusted when full statements on joint venture operations are received from outside operators. ExxonMobil management assumes no duty to update these estimates.
Sources and Uses of Funds, $M
1Q22
Beginning Cash
6,802
Earnings
5,480
Asset Impairments
Depreciation
8,883
Working Capital / Other
425
Proceeds Associated with Asset Sales
293
PP&E Adds / Investments and Advances ¹
(4,238)
Shareholder Distributions
(5,827)
Debt / Other Financing
(744)
Ending Cash
11,074
¹ PP&E Adds / Investments and Advances includes PP&E adds of ($3.9B) and net advances of ($0.3B).
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Disclaimer
Exxon Mobil Corporation published this content on 29 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2022 11:33:47 UTC.
Exxon Mobil Corporation is an oil group organized around 3 areas of activity:
- refining and distribution (78.8% of net sales): 5.2 million barrels of oil products (diesel fuel, gasoline, fuel oil, lubricants, motor oils, etc.) sold per day. At the end of 2021, the group operated a network of 22,545 service stations under the Exxon, Mobil, Esso names, etc.;
- petrochemical (13.3%): primarily oils, aromas, alcohols, ethylene, elastomers, propylene, and polymers (26.3 Mt sold in 2021) for the pharmaceutical, cosmetic, textile, electrical, etc.;
- exploration and production of hydrocarbons (7.9%; worldwide leader): 2.3 million barrels of oil produced per day and 241.7 million m3 of natural gas produced per day.
Net sales are distributed geographically as follows: the United States (37.7%), Canada (8%), Singapore (5.4%), the United Kingdom (5.3%), France (4.8%), Italy (3.6%), Belgium (3.3%), Australia (2.8%) and other (29.1%).