=============================================================== UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 20, 2002 EXXON MOBIL CORPORATION -------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) New Jersey 1-2256 13-5409005 - ---------------------------- ---------------------- ------------------ (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation) Identification No.) 5959 Las Colinas Boulevard Irving, Texas 75039-2298 - --------------------------------------- ------------------------ (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (972) 444-1000 -------------------------------------------------------------------------- (Former name or former address, if changed since last report) ============================================================= ITEM 9. Regulation FD Disclosure As previously disclosed, an ExxonMobil affiliate completed the sale of its copper mining business in Chile in November 2002. This sale followed the divestment of Colombian coal operations in the first quarter of 2002 and Australian coal operations in prior years. These businesses have historically been reported as other operations in our financial statements. In addition, management responsibility for certain continuing operations included in the other operations segment has been reassigned. Specifically, responsibility for electric power generation operations, primarily in Hong Kong, has been assigned to the newly-renamed ExxonMobil Gas & Power Marketing Company (part of our non-U.S. upstream business). Our remaining U.S. coal operations are now managed as part of the U.S. upstream. As a result of these changes, we will be changing the presentation of certain segment information in future financial reports in accordance with the accounting requirements of Statement of Financial Accounting Standards No. 131 (FAS 131), "Disclosures about Segments of an Enterprise and Related Information" and Statement of Financial Accounting Standards No. 144 (FAS 144), "Accounting for the Impairment or Disposal of Long-Lived Assets". Specifically, our annual report for 2002 will show earnings for the divested coal and minerals businesses as discontinued operations. Also, earnings from electric power will be moved from other operations to the non-U.S. upstream and earnings from residual U.S. coal operations will be moved from other operations to the U.S. upstream. The remaining activities in the other operations segment, primarily involving captive insurance and global services, will be shown in the corporate and financing segment. Our earnings press release for the fourth quarter of 2002 and other future financial publications will be consistent with this new segmentation. In order to help investors become familiar with this new segment format in advance of our fourth quarter earnings release and 2002 annual report, we are furnishing below resegmented functional earnings, along with resegmented capital and exploration expenditures, for the full years 1998, 1999 and 2000, and for the quarterly periods in 2001 and year-to-date 2002. These changes in the presentation of segment information do not alter our total net income, net income per share, or capital and exploration expenditures for any period. -2- EXXON MOBIL CORPORATION FUNCTIONAL EARNINGS - RESEGMENTED
2002 _____________________________________ First Second Third Year to Quarter Quarter Quarter Date _______ _______ _______ _______ (millions of dollars, except per share amounts) Net Income (U.S. GAAP) ______________________ Upstream United States $ 448 $ 677 $ 642 $1,767 Non-U.S. 1,641 1,553 1,635 4,829 Downstream United States 14 234 42 290 Non-U.S. (42) 148 83 189 Chemicals United States 70 87 156 313 Non-U.S. 62 182 197 441 Corporate and financing (70) (222) (41) (333) Merger expenses (60) (30) (85) (175) Gain from required asset divestitures 0 0 0 0 Discontinued operations 27 11 11 49 Accounting change 0 0 0 0 ______ ______ ______ ______ Net income (U.S. GAAP) $2,090 $2,640 $2,640 $7,370 Net income per common share (U.S. GAAP) $ 0.30 $ 0.40 $ 0.39 $ 1.09 Net income per common share - assuming dilution (U.S. GAAP) $ 0.30 $ 0.39 $ 0.39 $ 1.08 Merger Effects, Special Items and Discontinued Operations _________________________________________________________ Upstream United States $ 0 $ 0 $ 0 $ 0 Non-U.S. 0 0 (215) (215) Downstream United States 0 0 0 0 Non-U.S. 0 0 0 0 Chemicals United States 0 0 0 0 Non-U.S. 0 0 0 0 Corporate and financing 0 0 0 0 Merger expenses (60) (30) (85) (175) Gain from required asset divestitures 0 0 0 0 Discontinued operations 27 11 11 49 Accounting change 0 0 0 0 ______ ______ ______ ______ Corporate total $ (33) $ (19) $ (289) $ (341) Earnings excluding Merger Effects, Special Items and Discontinued Operations ____________________________________________________________________________ Upstream United States $ 448 $ 677 $ 642 $1,767 Non-U.S. 1,641 1,553 1,850 5,044 Downstream United States 14 234 42 290 Non-U.S. (42) 148 83 189 Chemicals United States 70 87 156 313 Non-U.S. 62 182 197 441 Corporate and financing (70) (222) (41) (333) ______ ______ ______ ______ Corporate total $2,123 $2,659 $2,929 $7,711
-3- EXXON MOBIL CORPORATION FUNCTIONAL EARNINGS - RESEGMENTED
2001 ___________________________________________ First Second Third Fourth Full Quarter Quarter Quarter Quarter Year _______ _______ _______ _______ _______ (millions of dollars, except per share amounts) Net Income (U.S. GAAP) ______________________ Upstream United States $ 1,629 $ 1,116 $ 770 $ 418 $ 3,933 Non-U.S. 2,229 1,816 1,441 1,317 6,803 Downstream United States 409 844 390 281 1,924 Non-U.S. 590 423 552 738 2,303 Chemicals United States 45 149 76 128 398 Non-U.S. 155 168 80 81 484 Corporate and financing (35) 5 (18) (94) (142) Merger expenses (90) (95) (140) (200) (525) Gain from required asset divestitures 40 0 0 0 40 Discontinued operations 28 34 29 11 102 Accounting change 0 0 0 0 0 _______ _______ _______ _______ _______ Net income (U.S. GAAP) $ 5,000 $ 4,460 $ 3,180 $ 2,680 $15,320 Net income per common share (U.S. GAAP) $ 0.72 $ 0.66 $ 0.46 $ 0.39 $ 2.23 Net income per common share - assuming dilution (U.S. GAAP) $ 0.71 $ 0.65 $ 0.46 $ 0.39 $ 2.21 Merger Effects, Special Items and Discontinued Operations _________________________________________________________ Upstream United States $ 0 $ 0 $ 0 $ 0 $ 0 Non-U.S. 0 0 0 0 0 Downstream United States 0 0 0 0 0 Non-U.S. 0 0 0 0 0 Chemicals United States 0 100 0 0 100 Non-U.S. 0 75 0 0 75 Corporate and financing 0 0 0 0 0 Merger expenses (90) (95) (140) (200) (525) Gain from required asset divestitures 40 0 0 0 40 Discontinued operations 28 34 29 11 102 Accounting change 0 0 0 0 0 _______ _______ _______ _______ _______ Corporate total $ (22) $ 114 $ (111) $ (189) $ (208) Earnings excluding Merger Effects, Special Items and Discontinued Operations ____________________________________________________________________________ Upstream United States $ 1,629 $ 1,116 $ 770 $ 418 $ 3,933 Non-U.S. 2,229 1,816 1,441 1,317 6,803 Downstream United States 409 844 390 281 1,924 Non-U.S. 590 423 552 738 2,303 Chemicals United States 45 49 76 128 298 Non-U.S. 155 93 80 81 409 Corporate and financing (35) 5 (18) (94) (142) _______ _______ _______ _______ _______ Corporate total $ 5,022 $ 4,346 $ 3,291 $ 2,869 $15,528
-4- EXXON MOBIL CORPORATION FUNCTIONAL EARNINGS - RESEGMENTED
2000 1999 1998 ____ ____ ____ (millions of dollars, except per share amounts) Net Income (U.S. GAAP) ______________________ Upstream United States $ 4,542 $ 1,873 $ 869 Non-U.S. 8,143 4,371 2,837 Downstream United States 1,561 577 1,199 Non-U.S. 1,857 650 2,275 Chemicals United States 644 738 792 Non-U.S. 517 616 602 Corporate and financing (538) (511) (443) Merger expenses (920) (469) 0 Gain from required asset divestitures 1,730 0 0 Discontinued operations 184 65 13 Accounting change 0 0 (70) _______ _______ _______ Net income (U.S. GAAP) $17,720 $ 7,910 $ 8,074 Net income per common share (U.S. GAAP) $ 2.55 $ 1.14 $ 1.15 Net income per common share - assuming dilution (U.S. GAAP) $ 2.52 $ 1.12 $ 1.14 Merger Effects, Special Items and Discontinued Operations _________________________________________________________ Upstream United States $ 0 $ 0 $ (185) Non-U.S. 0 119 (176) Downstream United States 0 0 8 Non-U.S. 0 (120) (412) Chemicals United States 0 0 (8) Non-U.S. 0 0 (1) Corporate and financing 0 0 112 Merger expenses (920) (469) 0 Gain from required asset divestitures 1,730 0 0 Discontinued operations 184 65 13 Accounting change 0 0 (70) _______ _______ _______ Corporate total $ 994 $ (405) $ (719) Earnings excluding Merger Effects, Special Items and Discontinued Operations ____________________________________________________________________________ Upstream United States $ 4,542 $ 1,873 $ 1,054 Non-U.S. 8,143 4,252 3,013 Downstream United States 1,561 577 1,191 Non-U.S. 1,857 770 2,687 Chemicals United States 644 738 800 Non-U.S. 517 616 603 Corporate and financing (538) (511) (555) _______ _______ _______ Corporate total $16,726 $ 8,315 $ 8,793
-5- EXXON MOBIL CORPORATION CAPITAL AND EXPLORATION EXPENDITURES - RESEGMENTED
2002 __________________________________ First Second Third Year to Quarter Quarter Quarter Date _______ _______ _______ _______ (millions of dollars) Upstream United States $ 586 $ 568 $ 619 $1,773 Non-U.S. 1,679 1,992 2,069 5,740 ______ ______ ______ ______ Total 2,265 2,560 2,688 7,513 Downstream United States 149 250 257 656 Non-U.S. 243 335 377 955 ______ ______ ______ ______ Total 392 585 634 1,611 Chemicals, Administrative and Discontinued Operations United States 193 137 139 469 Non-U.S. 124 111 102 337 ______ ______ ______ ______ Total 317 248 241 806 ______ ______ ______ ______ Total capital and exploration Expenditures $2,974 $3,393 $3,563 $9,930
-6- EXXON MOBIL CORPORATION CAPITAL AND EXPLORATION EXPENDITURES - RESEGMENTED
2001 ___________________________________________ First Second Third Fourth Full Quarter Quarter Quarter Quarter Year _______ _______ _______ _______ _______ (millions of dollars) Upstream United States $ 449 $ 650 $ 657 $ 667 $ 2,423 Non-U.S. 1,325 1,446 1,634 1,988 6,393 _______ _______ _______ _______ _______ Total 1,774 2,096 2,291 2,655 8,816 Downstream United States 239 250 196 276 961 Non-U.S. 239 288 337 497 1,361 _______ _______ _______ _______ _______ Total 478 538 533 773 2,322 Chemicals, Administrative and Discontinued Operations United States 104 93 149 212 558 Non-U.S. 160 107 125 223 615 _______ _______ _______ _______ _______ Total 264 200 274 435 1,173 _______ _______ _______ _______ _______ Total capital and exploration expenditures $ 2,516 $ 2,834 $ 3,098 $ 3,863 $12,311
-7- EXXON MOBIL CORPORATION CAPITAL AND EXPLORATION EXPENDITURES - RESEGMENTED
2000 1999 1998 ____ ____ ____ (millions of dollars) Upstream United States $ 1,865 $ 1,741 $ 2,197 Non-U.S. 5,068 6,687 7,885 _______ _______ _______ Total 6,933 8,428 10,082 Downstream United States 1,077 905 1,090 Non-U.S. 1,541 1,496 1,918 _______ _______ _______ Total 2,618 2,401 3,008 Chemicals, Administrative and Discontinued Operation United States 396 756 908 Non-U.S. 1,221 1,722 1,537 _______ _______ _______ Total 1,617 2,478 2,445 _______ _______ _______ Total capital and exploration expenditures $11,168 $13,307 $15,535
-8- SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EXXON MOBIL CORPORATION Date: December 20, 2002 By: /s/ Donald D. Humphreys -------------------------------------- Name: Donald D. Humphreys Title: Vice President, Controller and Principal Accounting Officer -9-