SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K [x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2002 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission file number 1-2256 A. Full title of the plan: EXXONMOBIL SAVINGS PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: EXXON MOBIL CORPORATION 5959 Las Colinas Boulevard Irving, Texas 75039-2298 EXXONMOBIL SAVINGS PLAN INDEX Page ----- Financial Statements Statement of Net Assets Available for Benefits at December 31, 2002 and 2001 3-4 Statement of Changes in Net Assets Available for Benefits, for the Year ended December 31, 2002 5 Notes to Financial Statements 6-12 Supplemental Schedules Schedule H, Line 4i-Schedule of Assets (Held at End of Year) at December 31, 2002 (Exhibit 1) 13-22 Schedule H, Line 4i--Schedule of Assets (Acquired and Disposed of Within the Plan Year) at December 31, 2002 (Exhibit 2) 23 Report of Independent Auditors 24 Signature 25 Exhibit Index 26 Exhibit 23 - Consent of Independent Auditors 27 -2- EXXONMOBIL SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS December 31, 2002 (millions of dollars)
Participant Non-Participant Directed Directed Total ----------- --------------- ------- Assets Investments, at fair value: (See Note 8) Exxon Mobil Corp common stock $ 7,465 $768 $ 8,233 Other investments 4,934 - 4,934 ------- ------ ------- Total investments 12,399 768 13,167 Cash 2 8 10 Amounts due from employers - 125 125 Accrued interest 14 - 14 Other receivables 5 - 5 ------- ------ ------- Total assets 12,420 901 13,321 ------- ------ ------- Liabilities Payables and accrued liabilities 6 1 7 Commercial paper payable - 82 82 Notes payable (see Note 6) - 65 65 ------- ------ ------- Total liabilities 6 148 154 ------- ------ ------- Net assets available for benefits $12,414 $753 $13,167 ======= ====== ======= The accompanying notes are an integral part of these financial statements.
-3- EXXONMOBIL SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS December 31, 2001 (millions of dollars)
Participant Non-Participant Directed Directed Total ----------- --------------- ------- Assets Investments, at fair value: (See Note 8) Exxon Mobil Corp common stock $ 8,530 $1,163 $ 9,693 Other investments 5,642 - 5,642 ------- ------ ------- Total investments 14,172 1,163 15,335 Cash 7 - 7 Amounts due from employers - 177 177 Amounts due from employees 1 - 1 Accrued interest 23 - 23 Other receivables 16 - 16 ------- ------ ------- Total assets 14,219 1,340 15,559 ------- ------ ------- Liabilities Payables and accrued liabilities 5 2 7 Commercial paper payable - 180 180 Notes payable (see Note 6) - 100 100 ------- ------ ------- Total liabilities 5 282 287 ------- ------ ------- Net assets available for benefits $14,214 $1,058 $15,272 ======= ====== ======= The accompanying notes are an integral part of these financial statements.
-4- EXXONMOBIL SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2002 (millions of dollars)
Participant Non-Participant Directed Directed Total ----------- --------------- ------- Contributions: Employer $ 18 $ 57 $ 75 Employee 306 - 306 Transfers in 11 - 11 ------- ------ ------- Total contributions 335 57 392 ------- ------ ------- Investment income/(loss): Interest 134 - 134 Dividends 206 24 230 Net depreciation in fair value of investments (1,530) (132) (1,662) ------- ------ ------- Total investment income/(loss)(1,190) (108) (1,298) ------- ------ ------- Deductions: Interest and miscellaneous expense - (8) (8) Benefit payments (936) (51) (987) Participant withdrawals (190) (14) (204) Net ESOP transfers 181 (181) - ------- ------- ------- Total deductions (945) (254) (1,199) ------- ------- ------- Net decrease (1,800) (305) (2,105) Net assets available for benefits: At the beginning of the year 14,214 1,058 15,272 ------- ------ ------- At the end of the year $12,414 $ 753 $13,167 ======= ====== ======= The accompanying notes are an integral part of these financial statements.
-5- EXXONMOBIL SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS Note 1: Description of the Plan General - ------- The participants in the ExxonMobil Savings Plan ("Savings Plan"), formerly known as the Thrift Plan in the Benefit Plan of Exxon Corporation and Participating Affiliates ("Thrift Plan"), are eligible employees and former employees of Exxon Mobil Corporation ("ExxonMobil" or "Company") and certain affiliated employers. The terms and conditions of the Savings Plan are fully contained in the ExxonMobil Savings Plan document and the ExxonMobil Savings Trust document (collectively, the "Plan Document") dated July 1, 2002, as amended from time to time. The Savings Plan is an "employee pension benefit plan" described in Section 3(2) of the Employee Retirement Income Security Act of 1974 ("ERISA") and also a "defined contribution plan" described in Section 3(34) of ERISA. In addition, effective February 8, 2002, the entire Savings Plan has been designated an Employee Stock Ownership Plan ("ESOP"), a plan designed to invest primarily in employer securities. Contributions - ------------- Effective January 1, 2002, the Savings Plan permits participant contributions of up to 20 percent of compensation and a 100% Company match on the first 6 percent of compensation. Prior to January 1, 2002, the contribution limit was 18 percent. Up to an additional 1 percent Company match may be received if the participant elects for the Company match to be directed to the Direct Dividend Account ("DDA"). The restriction on the DDA stipulates that 75% of the assets in the DDA must be invested in ExxonMobil stock. Effective September 1, 2002, employees who are at least age 50 at the end of 2002, may elect to make additional pretax ("catch-up") contributions up to $1000. More details of Company match, DDA, and catch-up contributions may be found in the Plan Document. Vesting - ------- Participants are immediately vested in their contributions and earnings. Effective January 1, 2002, Company contributions vest at 100% upon the earliest of completion of 3 years of vesting service, reaching age 65, or upon death of the participant. Forfeitures - ----------- During 2002 and 2001, $1 million and $2 million, respectively, of employers' matching contributions were forfeited by terminating employees before those amounts became vested. Such forfeited amounts are used to reduce future employer contributions. -6- EXXONMOBIL SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS Other Plan Provisions - --------------------- Other Savings Plan provisions including eligibility, enrollment, participation, forfeiture, loans, withdrawals, distributions, and investment options, are described in the Plan Document. Plan Termination - ---------------- The Company may terminate or amend the Savings Plan at any time. In the event of termination, the net assets of the Savings Plan will be distributed in accordance with the Employee Retirement Income Security Act of 1974. Note 2: Accounting Policies Basis of Accounting - ------------------- The financial statements of the Savings Plan are presented on the accrual basis of accounting except benefit payments which are reported on a cash basis as described in Note 7. Investment Valuation and Income Recognition - ------------------------------------------- Investments are stated at fair value. Fair values are based on quoted prices as of the date of the financial statements, or, if market quotations are not readily available, upon estimated values obtained from a major investment securities firm. The Merrill Lynch Floating Rate Long-Term Fixed Income Fund includes guaranteed investment contracts (GICs) which are stated at contract value, which approximates fair value, representing the original cost, plus interest (based upon the crediting rates of the underlying contracts) reduced by administration fees, transfers out, and withdrawals. There are no reserves against contract value for credit risk of the contract issuer or otherwise. The average crediting interest rates of the Merrill Lynch Floating Rate Long-Term Fixed Income Fund for the years ended December 31, 2002 and 2001 were 4.9% and 5.7%, respectively. The annualized crediting interest rates at December 31, 2002 and 2001 were 4.2% and 5.0%, respectively. Crediting rates fluctuate with the activities of the underlying contracts. This investment choice has no fixed term, nor a minimum crediting interest rate. Purchases and sales of securities are recorded on a trade-date basis. Dividends are recorded on the ex-dividend date. -7- EXXONMOBIL SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS The Savings Plan's financial statements separately disclose non-participant directed investments which include both unallocated ExxonMobil common stock of the ESOP and a portion of the allocated shares. At December 31, 2002 and 2001, $35 million and $292 million respectively, of ExxonMobil common stock remained unallocated. Net appreciation and depreciation in the current value of investments includes realized gains and losses on investments sold or disposed of during the year and unrealized gains and losses on investments held at year end. Participant loans represent the outstanding principal balances of the loans and are valued at cost, which approximates current value. The Savings Plan is subject to normal risks associated with international and domestic debt and equity markets, including the investment in ExxonMobil common stock. Transfers in include participant-initiated rollovers of certain distributions from other tax-qualified plans into the Savings Plan. Use of Estimates - ---------------- The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates. Note 3: Related-Party Transactions During 2002 and 2001, commercial paper was issued by the Savings Plan and purchased by ExxonMobil. As a result of these transactions, at December 31, 2002 and 2001, $82 million and $180 million, respectively, were owed to ExxonMobil. Certain Savings Plan investments are shares of various funds managed by Merrill Lynch Trust Company, FSB, Barclays Global Investors, N.A., and The Northern Trust Company. These parties also provide fiduciary services to the Savings Plan and, therefore, purchases and sales of these investments qualify as party-in-interest transactions. -8- EXXONMOBIL SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS Note 4: Tax Status The Internal Revenue Service has determined and informed the Savings Plan administrators by a letter dated November 14, 2002, that the Savings Plan is qualified and the trusts established under the Savings Plan are tax-exempt, under the appropriate sections of the Internal Revenue Code ("Code"). The Savings Plan has been amended since receiving the determination letter. However, the Savings Plan counsel believes that the Savings Plan is currently designed and is being operated in compliance with the applicable requirements of the Code and therefore, was qualified and the related trusts were tax-exempt as of the financial statement date. Note 5: Expenses Investment income from all sources is stated net of administrative expenses, which include brokerage fees on purchases and sales of ExxonMobil common stock, management fees, and brokerage commissions. The participating employers also pay miscellaneous administrative expenses on behalf of the Savings Plan. Note 6: ExxonMobil ESOP Trust Upon merger of the Thrift Plan and the Employees Savings Plan of Mobil Oil Corporation on December 30, 1999, ("the Merger"), future contributions to the ESOP were eligible for funding from the ESOP trust established in November 1989 by Mobil Oil Corporation ("Mobil"). In 1989, the ESOP trust, supported by a Mobil guarantee, privately placed $800 million of floating interest rate notes due November 22, 2004, and used the proceeds to purchase 205,788 shares of Mobil Series B Convertible Preferred Stock at a price equal to liquidation value, or $3,887.50 per share. Following the Merger, each outstanding share of Mobil Series B Convertible Preferred Stock was converted into one share of ExxonMobil Class B Preferred Stock, with similar terms. In December 1999, each unit of ExxonMobil's Class B Preferred Stock was converted into 132.015 shares of ExxonMobil Common Stock, and the accrued dividends on units of ExxonMobil Preferred Stock were converted into shares of ExxonMobil Common Stock. -9- EXXONMOBIL SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS At December 31, 2002 and 2001, $65 million and $100 million, respectively, of medium-term notes were outstanding under a $300 million shelf registration statement filed by the ESOP trust with the Securities and Exchange Commission pursuant to Rule 415. These medium-term notes are guaranteed by ExxonMobil and are secured by the unallocated ESOP shares. As shares in the ESOP are allocated to participants, a corresponding number of shares are released from securing the notes. The proceeds of the sales of the issued notes were used to retire identical principal amounts of existing ESOP trust debt. A summary of the outstanding medium-term notes as of December 31, 2002 and 2001 is as follows:
Date of Interest Maturity 2002 2001 Issuance Rate Date (millions $) -------- -------- -------- ---- ----- 2/28/97 6.300% 9/03/02 10 3/02/98 5.875% 9/03/02 25 3/02/98 5.900% 2/28/03 20 20 8/31/98 5.800% 9/02/03 45 45 ----- ----- $ 65 $100 ==== ==== Principal and interest payments on the medium-term notes are due semi-annually.
On February 4, 1999, the ESOP trust established a commercial paper program under which the ESOP trust may sell to institutional investors including ExxonMobil or its affiliates, up to $500 million of short-term notes. The proceeds of the sales of such notes will be used for the same purposes as the proceeds of the debt securities issued by the ESOP trust under the above mentioned shelf registration. At December 31, 2002, the ESOP trust had $82 million of ExxonMobil guaranteed 1.29% short-term notes outstanding, due February 28, 2003. At December 31, 2001, the ESOP trust had $180 million of ExxonMobil guaranteed 1.76% short-term notes outstanding, due February 28, 2002. In addition to the proceeds from the financing programs mentioned above, corporate contributions to the Savings Plan and dividends are used to make principal and interest payments on the notes. -10- EXXONMOBIL SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS The Savings Plan held 236 million shares and 247 million shares of ExxonMobil common stock at year end 2002 and 2001, respectively. Of these total shares, 98.0 million shares and 104.2 million shares, respectively, were held in the ESOP trust (a part of the ExxonMobil Savings Trust) at year end 2002 and 2001. Of the total ESOP trust shares, 1.0 million shares and 7.4 million shares, respectively, remained unallocated. As the contributions and dividends are credited, common shares are released from securing the debt and are subsequently allocated to participant accounts. During the year, 6.4 million ESOP trust shares were allocated to participants. Note 7: Claims Incurred But Not Paid The Savings Plan reports benefits paid on a cash basis as required under accounting principles generally accepted in the United States of America. For Form 5500 reporting purposes, claims incurred but not paid of $9 million and $2 million for the years ended December 31, 2002 and 2001, respectively, are reported on an accrual basis. As such, the net assets available for benefits reflected for Form 5500 purposes are $13,158 million and $15,270 million for the years ended December 31, 2002 and 2001, respectively. Note 8: Investments The following presents investments that represent 5% or more of the Savings Plan's net assets available for benefits.
(millions of dollars) December 31, December 31, 2002 2001 ----------- ----------- ExxonMobil Common Stock $7,465 $8,530 ExxonMobil Common Stock (non-participant directed) 768 1,163 Barclays Global Investors Equity Portfolio Fund 731 902
-11- EXXONMOBIL SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS During 2002, the Savings Plan's investments (including gains and losses on investments bought and sold, as well as held during the year) depreciated in value by $1,662 million as follows: (millions $) ExxonMobil Common Stock $(1,030) Common collective trusts (315) Common stock (258) Mutual funds (54) Corporate debentures (4) U.S. Government securities (2) Other 1 ------ $(1,662) ====== Note 9: Subsequent Event On May 1, 2003, the ExxonMobil Savings Plan recordkeeping balances and the Merrill Lynch recordkeeping for the heritage Mobil balances were "harmonized" into one ExxonMobil Savings Plan recordkeeping system at CitiStreet LLC. With the harmonization, two new investment options, an international equity unit fund and a bond fund, were added to the existing ExxonMobil Savings Plan investment options. In addition, all Merrill Lynch-held investments with the exception of ExxonMobil common stock were converted to other existing and new ExxonMobil Savings Plan investment options. -12- EXHIBIT 1 EXXONMOBIL SAVINGS PLAN SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) 12/31/02 (thousands of dollars)
MATURITY PAR CURRENT DESCRIPTION COUPON DATE VALUE VALUE - ------------------------------------------------------------------------- COMMON ASSET FUND - ----------------- CORPORATE DEBT INSTRUMENTS ABBOTT LABS 5.125% 07/01/04 $ 25,000 $ 26,321 ADVANTA CR CD MSTR TR II 1996-A 6.000% 11/15/05 5,900 5,942 AMERICAN EXPRESS MSTR TR 1998-1 5.900% 04/15/04 20,488 20,828 ATLC RICHFIELD CO 5.550% 04/15/03 6,440 6,513 BK 1 ISSUANCE TR ABS BOIT 2.940% 06/16/08 20,000 20,304 BK 1 ISSUANCE TR SER 2002-A2 4.160% 01/15/08 10,000 10,457 BMW VEH OWNER TR 2001-A 4.700% 03/25/05 11,785 11,956 BMW VEH OWNR TR 2002-A 2.830% 12/25/04 14,233 14,303 BMW VEH OWNR TR 2002-A 3.800% 05/25/06 20,000 20,558 CAP AUTO REC AST TR 2001-2 4.600% 09/15/05 7,000 7,108 CHASE CR CD MSTR TR SER 1998-3 6.000% 08/15/05 26,905 27,260 CHASE FDG MTG LN SER 2002-4 2.810% 10/25/17 9,000 9,043 CHASE MANH AUTO OWNR TR 2001-A 4.550% 08/15/05 4,452 4,531 CHASE MANH AUTO OWNR TR 2002-A 3.490% 03/15/06 25,000 25,536 CHASE MANH AUTO OWNR TR 2002-B 3.580% 05/15/06 22,000 22,559 CIT RV OWNER TR SER 1996-A 5.400% 12/15/11 1,285 1,303 CITIBANK CR CARD ISSUANCE TR 4.100% 12/07/06 39,690 41,294 CITIBANK CR CD TR SER 2002-A 4.400% 05/15/07 8,000 8,404 CITIBANK CR CD MSTR TR 1998-9 5.300% 01/09/06 10,125 10,508 CITIBANK CR CD MSTR TR I 99 1 5.500% 02/15/06 40,000 41,731 CITIBANK CR CD MSTR TR 1998-3 5.800% 02/07/05 1,565 1,572 DAIMLERCHRYSLER AUTO TR 2000-1 7.230% 01/06/05 14,030 14,461 DAIMLERCHRYSLER AUTO TR 2000-C 6.820% 09/06/04 1,358 1,373 DAIMLERCHRYSLER AUTO TR 2001-B 4.250% 05/07/31 1,723 1,726 DISCOVER CARD MSTR TR I 1998-6 5.850% 01/15/06 19,316 19,771 FIRST USA CR CD MSTR TR 98-9A 5.280% 09/18/06 9,068 9,414 FLEET CR CD MSTR TR II 2001-C 3.860% 03/15/07 20,600 21,280 FLEETWOOD CR 1994-B GRANTOR TR 6.750% 03/15/10 442 442 FORD CR AUTO OWNER TR 2000-A 7.090% 11/17/03 2,402 2,414 FORD CR AUTO OWNER TR 2000-D 7.150% 01/15/05 3,000 3,006 FORD CR AUTO OWNER TR 2000-E 6.740% 06/15/04 3,107 3,153 FORD CR AUTO OWNER TR 2001-B 5.360% 06/15/05 6,525 6,805 FORD CR AUTO OWNER TR 2001-C 4.830% 02/15/05 11,996 12,160 FORD CR AUTO OWNER TR 2001-E 4.010% 03/15/06 12,000 12,415 FORD CR AUTO OWNER TR 2000-C 7.260% 07/15/04 4,000 4,127
-13- EXHIBIT 1 EXXONMOBIL SAVINGS PLAN SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) 12/31/02 (thousands of dollars)
MATURITY PAR CURRENT DESCRIPTION COUPON DATE VALUE VALUE - ------------------------------------------------------------------------- FST SEC AUTO OWNER TR 1999-2 6.200% 10/15/06 $ 10,198 $ 10,287 FST SEC AUTO OWNER TR 2000-2 6.830% 07/15/04 3,586 3,608 GEN ELEC CAP CORP 8.70 NT 8.700% 02/15/03 3,000 3,024 GEN ELEC CAP CORP MED TERM NT 5.650% 03/31/03 3,690 3,727 GEN ELEC CAP CORP MED TERM NT 7.250% 05/03/04 8,400 9,002 GEN ELEC CAP CORP MED TERM NT 5.160% 02/03/03 11,900 11,934 GEN ELEC CAP CORP MTN BEO 5.375% 04/23/04 3,000 3,141 HONDA AUTO RECEIVABLES 2001-3 3.400% 02/18/05 20,000 20,345 HONDA AUTO RECEIVABLES 2001-3 3.960% 02/18/07 20,000 20,774 HONDA AUTO RECEIVABLES 2002-1 3.500% 10/17/05 7,000 7,144 HONDA AUTO RECEIVABLES 2002-2 2.910% 09/15/04 7,000 7,040 HONDA AUTO RECEIVABLES 2002-2 3.830% 02/15/06 20,000 20,576 HONDA AUTO RECEIVABLES 2002-3 3.000% 05/18/06 1,000 1,018 HONDA AUTO RECEIVABLES 2002-4 2.190% 09/15/06 25,000 25,101 HSEHD AUTO TR 2002-1 NT 3.750% 09/18/06 12,000 12,289 HSEHD AUTO TR 2002-3 NT 2.750% 06/18/07 19,000 19,168 HSEHD AUTO TR V SER 2000-2 NT 7.340% 11/17/04 4,532 4,585 KEY AUTO FIN TR 1999-1 NT 5.830% 01/15/07 3,717 3,778 PFIZER INC 3.625% 11/01/04 10,000 10,343 PREMIER AUTO TR 1999-1 5.820% 10/08/03 3,006 3,008 PREMIER AUTO TR SER 1999-2 NT 5.590% 02/09/04 2,261 2,272 PROCTER & GAMBLE CO NT 5.250% 09/15/03 5,000 5,123 PROCTER & GAMBLE CO NT 8.000% 11/15/03 5,000 5,260 RESIDENTIAL AST SEC CORP MTG 4.790% 10/25/19 11,500 11,562 TOYOTA AUTO RECEIVABLES 2000-A 7.180% 08/15/04 4,593 4,642 TOYOTA AUTO RECEIVABLES 2000-B 6.760% 08/15/04 14,184 14,366 TOYOTA AUTO RECEIVABLES 2002-B 3.760% 06/15/06 40,000 41,116 TOYOTA AUTO RECEIVABLES 2002-C 2.650% 11/15/06 25,000 25,317 USAA AUTO LN GRANTOR TR 6.100% 02/15/06 1,640 1,661 USAA AUTO OWNER TR 2000-1 6.950% 06/15/04 2,475 2,486 USAA AUTO OWNER TR 2001-1 4.690% 02/15/05 15,934 16,133 USAA AUTO OWNER TR 2001-2 3.200% 02/15/06 39,360 39,717 USAA AUTO OWNER TR AST BKD NT 2.410% 10/16/06 13,500 13,623 VOLKSWAGEN AUTO LEASE TR 2002-A 2.360% 12/20/05 20,000 20,127 WAL MART STORES INC 4.625% 04/15/03 25,000 25,193 WELLS FARGO AUTO TR 2001-A NT 4.680% 02/15/05 3,112 3,152 ----------- ----------- TOTAL CORPORATE DEBT INSTRUMENTS $ 863,023 $ 882,220
-14- EXHIBIT 1 EXXONMOBIL SAVINGS PLAN SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) 12/31/02 (thousands of dollars)
MATURITY PAR CURRENT DESCRIPTION COUPON DATE VALUE VALUE - ------------------------------------------------------------------------- U.S. GOVERNMENT SECURITIES FEDERAL FARM CR BANK 5.000% 02/03/03 $ 40,000 $ 40,125 FEDERAL HOME LN MTG CORP 5.750% 03/15/09 1,044 1,045 FEDERAL HOME LN MTG CORP 6.500% 04/15/20 1,553 1,560 FEDERAL HOME LN MTG CORP 5.750% 07/15/03 5,000 5,120 FEDERAL HOME LN MTG CORP 6.875% 01/15/05 8,000 8,806 FEDERAL HOME LN MTG CORP 6.375% 11/15/03 10,000 10,438 FEDERAL HOME LN MTG CORP 3.250% 11/15/04 30,000 30,847 FEDERAL HOME LN MTG CORP 2.182% 09/27/07 15,000 14,892 FEDERAL HOME LN MTG CORP 3.875% 02/15/05 54,000 56,297 FEDERAL HOME LOAN BANK 4.500% 07/07/03 5,000 5,083 FEDERAL HOME LOAN BANK 4.625% 04/15/05 10,000 10,618 FEDERAL HOME LOAN BANK BDS 6.375% 11/14/03 30,000 31,313 FEDERAL HOME LOAN BANK BDS 5.375% 01/05/04 50,000 52,008 FEDERAL HOME LOAN BK BDS 5.125% 01/13/03 10,000 10,013 FEDERAL NATL MORT ASSC BDS 5.000% 02/14/03 2,000 2,009 FEDERAL NATL MTG ASSN 6.500% 08/15/04 10,000 10,779 FEDERAL NATL MTG ASSN BDS 7.125% 02/15/05 40,000 44,365 FEDERAL NATL MTG ASSN NT 5.125% 02/13/04 5,000 5,207 FEDERAL NATL MTG ASSN NT 3.875% 03/15/05 5,000 5,219 FEDERAL NATL MTG ASSN PREASSIGN 7.000% 07/15/05 5,000 5,607 FEDERAL NATL MTG ASSN PREASSIGN 3.250% 11/25/32 9,807 9,914 FEDERAL NATL MTG ASSN REMIC 6.000% 08/25/20 669 670 FEDERAL NATL MTG ASSN REMIC 5.750% 09/25/07 219 218 FEDERAL NATL MTG ASSN REMIC 6.000% 04/25/08 1,019 1,028 US SVGS BDS SER I 2.570% 10/01/32 3,190 80,124 US SVGS BDS SER I 4.080% 11/01/33 3,190 80,147 US SVGS BDS SER I 5.920% 10/01/31 6,059 159,849 ---------- ----------- TOTAL U.S. GOVERNMENT SECURITIES $ 360,750 $ 683,301
-15- EXHIBIT 1 EXXONMOBIL SAVINGS PLAN SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) 12/31/02 (thousands of dollars)
MATURITY PAR CURRENT DESCRIPTION COUPON DATE VALUE VALUE - ------------------------------------------------------------------------- OTHER SECURITIES ALBERTA PROV EUROCLEAR 7.000% 02/18/03 $ 15,000 $ 15,096 ALTA PROV CDA BD 4.875% 10/29/03 16,349 16,773 ALTA PROV CDA EURO MTN 7.250% 04/05/04 5,000 5,355 B.C PROV CDA 7.00 BD 7.000% 01/15/03 17,500 17,523 CDA GOVT 5.625% 02/19/03 5,000 5,026 MAN PROV CDA DEB 6.125% 01/19/04 2,515 2,640 MAN PROV CDA DEB 6.750% 03/01/03 16,400 16,515 ONT PROV CDA BD 7.375% 01/27/03 30,000 30,106 ---------- ----------- TOTAL OTHER SECURITIES $ 107,764 $ 109,034 COMMON COLLECTIVE TRUSTS BONY COLLECTIVE STIF $ 119,500 $ 119,500 *COLTV SHORT TERM INVT FD 4,340 4,340 ---------- ----------- TOTAL COMMON COLLECTIVE TRUSTS $ 123,840 $ 123,840 *PARTICIPANT LOANS (ANNUAL INTEREST RATES FROM 4.5% TO 9.0% MATURITIES FROM 12 MONTHS TO 60 MONTHS) $ 184,635 ----------- TOTAL COMMON ASSET FUND $1,455,377 $1,983,030 =========== ===========
-16- EXHIBIT 1 EXXONMOBIL SAVINGS PLAN SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) 12/31/02 (thousands)
SHARES/ CURRENT UNITS VALUE FUND/ISSUE (000's) ($000's) - ------------------------------------------------------------------------- COMMON STOCK - ---------------------------- *EXXONMOBIL CORPORATION 213,652 $7,465,007 JENNISON EQUITY FUND: 3M CO 96 $ 11,861 ABBOTT LABORATORIES 350 13,988 ALTERA 534 6,582 AMERICAN EXPRESS CO 385 13,617 AMERICAN INTL GROUP INC COM 284 16,437 AMERISOURCEBERGEN COM 5 272 AMGEN CORP COM NPV 372 17,958 ANHEUSER BUSCH COS INC COM 179 8,644 APPLIED MATLS INC COM 381 4,962 BANC ONE CORP COM NPV 269 9,828 BED BATH AND BEYOND 319 11,019 CISCO SYSTEMS 1,179 15,449 CITIGROUP INC 466 16,389 CLEAR CHANNEL COMMUNICATIONS INC 88 3,263 COCA COLA CO COM 163 7,120 COSTCO WHOLESALE CORP 240 6,720 DELL COMPUTER COM USD1 478 12,782 FOREST LABS INC COM 27 2,622 GENENTECH INC 175 5,813 GILLETTE CO COM 195 5,923 GOLDMAN SACHS GROUP INC 161 10,923 HARLEY DAVIDSON 200 9,254 HARTFORD FINANCIAL SERVICES GRP INC 170 7,732 HEWLETT PACKARD CO COM 706 12,256 INTEL CORP 753 11,715 INTERNATIONAL BUSINESS MACHS CORP COM 98 7,603 INTERNATIONAL PAPER CO COM 189 6,620 JOHNSON & JOHNSON 300 16,129 KLA-TENCOR CORPORATION 27 962 KOHL'S CORP 290 16,248 LOCKHEED MARTIN CORP 149 8,593 LOWES COS INC COM 243 9,101
-17- EXHIBIT 1 EXXONMOBIL SAVINGS PLAN SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) 12/31/02 (thousands)
SHARES/ CURRENT UNITS VALUE FUND/ISSUE (000's) ($000's) - ------------------------------------------------------------------------- MARRIOTT INTERNATIONAL INC 279 $ 9,171 MEDIMMUNE INC 178 4,836 MERCK & CO INC COM 102 5,791 *MERRILL LYNCH & CO INC COM 234 8,880 MICROSOFT CORP 455 23,534 NEW YORK TIMES CO CL A 152 6,956 NOKIA CORP 588 9,117 NORTHROP GRUMMAN CORP 95 9,234 NOVELLUS SYS INC 133 3,726 OMNICOM GROUP COM USD0.5 76 4,910 PFIZER INC COM 217 6,640 PHARMACIA CORP 212 8,879 PROCTER & GAMBLE CO COM 91 7,778 SAP AKTIENGESELLSCHAFT 25 493 SCHLUMBERGER LTD 357 15,022 STARBUCK CORP 323 6,587 STMICROELECTRONICS 212 4,144 TEVA PHARMACEUTICAL INDS LTD 86 3,320 TEXAS INSTRS INC COM 496 7,443 TIFFANY & CO NEW 386 9,227 TOTAL FINA ELF SA 173 12,398 UNIVISION COMMUNICATIONS INC 345 8,443 VIACOM INC 414 16,874 WAL MART STORES INC COM 359 18,108 WALGREEN CO COM 229 6,685 WEYERHAEUSER CO COM 146 7,204 WYETH 226 8,434 XL CAPITAL LTD 111 8,590 ---------- TOTAL JENNISON EQUITY FUND COMMON STOCK $ 550,809 ---------- TOTAL COMMON STOCK $8,015,816 ==========
-18- EXHIBIT 1 EXXONMOBIL SAVINGS PLAN SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) 12/31/02 (thousands)
SHARES/ CURRENT UNITS VALUE FUND/ISSUE (000's) ($000's) - ------------------------------------------------------------------------- REGISTERED INVESTMENT COMPANIES: - -------------------------------- *MERRILL LYNCH INSTITUTIONAL FUND 95,080 $ 95,080 FRANKLIN CUSTODIAN FUNDS, INC. FRANKLIN U.S. GOVERNMENT SECURITIES FUND 13,545 $ 94,813 MASSACHUSETTS FINANCIAL SERVICES COMPANY MFS EMERGING GROWTH FUND 2,696 $ 57,828 *MERRILL LYNCH GLOBAL ALLOCATION FUND 4,900 $ 56,005 AIM CHARTER FUND 4,593 $ 44,138 FRANKLIN TEMPLETON GROUP TEMPLETON FOREIGN FUND 4,902 $ 40,735 FRANKLIN TEMPLETON GROUP TEMPLETON DEVELOPING MARKETS TRUST 1,542 $ 15,424 COMMON COLLECTIVE TRUSTS: - -------------------------- *BARCLAYS GLOBAL INVESTORS, N.A. EQUITY INDEX FUND 3,322 $ 730,660 *BARCLAYS GLOBAL INVESTORS, N.A. EXTENDED EQUITY INDEX FUND 16,741 $ 322,331 *BARCLAYS GLOBAL INVESTORS, N.A. BALANCED FUND 11,357 $ 102,054 *MERRILL LYNCH EQUITY INDEX TRUST 1,404 $ 87,940 PYRAMID DIRECTED ACCT CASH FUND $ 10,695
-19- EXHIBIT 1 EXXONMOBIL SAVINGS PLAN SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) 12/31/02 (thousands of dollars)
MATURITY PAR CURRENT FUND/ISSUE COUPON DATE VALUE VALUE - ------------------------------------------------------------------------- *MERRILL LYNCH FLOATING RATE LONG- - ---------------------------------- TERM FIXED INCOME FUND ---------------------- MONEY MARKET FUND *MERRILL LYNCH GOVERNMENT FUND $ 130,607 $ 130,607 COMMON COLLECTIVE TRUST *ML RETIREMENT PRESERVATION TRUST $ 117,650 $ 117,650 GUARANTEED INVESTMENT CONTRACTS WITH INSURANCE COMPANIES: JOHN HANCOCK LIFE INS CO 5.700% 10/31/03 $ 20,189 $ 20,189 METROPOLITAN LIFE INS CO 6.200% 06/23/03 20,640 20,640 NEW YORK LIFE INS CO 4.880% 09/30/05 30,362 30,362 PACIFIC LIFE INS CO 6.300% 03/30/04 15,703 15,703 PRINCIPAL LIFE INS CO 5.850% 11/13/03 15,115 15,115 PRINCIPAL LIFE INS CO 6.060% 03/29/06 31,375 31,375 SECURITY LIFE OF DENVER INS 5.500% 05/23/05 20,668 20,668 SUNAMERICA LIFE INS CO 6.250% 03/27/03 20,952 20,952 ---------- ---------- TOTAL GUARANTEED INVESTMENT CONTRACTS WITH INSURANCE COMPANIES $ 175,004 $ 175,004 SYNTHETIC INVESTMENT CONTRACTS WITH FINANCIAL INSTITUTIONS: AIG FINANCIAL PRODUCTS: FEDERAL NATL MTG ASSN POOL 6.725% 01/01/04 $ 7,851 $ 8,029 FEDERAL NATL MTG ASSN POOL 6.650% 02/01/04 4,696 4,817 CAP AUTO RECEIVABLES AST 1.370% 04/17/06 22,500 22,511 AIG WRAPPER (293) BANK OF AMERICA: ADVANTA CR CD MSTR TR 96-B 1.489% 01/15/07 25,000 25,075 COMM MTG ACCEPT CORP SER 97 6.500% 12/15/30 10,542 11,039 BANK OF AMERICA WRAPPER (288) JP MORGAN CHASE BANK: FEDERAL NATL MTG ASSN POOL 6.500% 06/01/03 337 342 FEDERAL NATL MTG ASSN POOL 6.500% 01/01/04 2,388 2,418
-20- EXHIBIT 1 EXXONMOBIL SAVINGS PLAN SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) 12/31/02 (thousands of dollars)
MATURITY PAR CURRENT FUND/ISSUE COUPON DATE VALUE VALUE - ------------------------------------------------------------------------- MMCA AUTO OWNR TR SER 2000-1 7.080% 02/15/05 $ 25,000 $ 26,010 CA INFRASTRUCT & ECN DEVBK 6.280% 09/25/05 4,773 4,882 JP MORGAN CHASE WRAPPER (669) RABOBANK NEDERLAND: FEDERAL NATL MTG ASSN 6.500% 01/01/03 61 61 DAIMLER CHRYSLER AUTO TRUST 3.150% 11/06/05 15,500 15,733 RABOBANK NEDERLAND WRAPPER (203) TRANSAMERICA LIFE INS CO: KEY AUTO FIN TR 1999-1 5.830% 01/15/07 6,236 6,338 DAIMLER CHRYSLER AUTO TRUST 2.470% 06/06/04 7,678 7,694 CITIBANK CR CAD ISS TR SER 6.900% 10/15/07 25,000 27,930 TRANSAMERICA LIFE INS CO WRAPPER (1,792) UBS AG: TOYOTA AUTO RECV 2002-B 3.760% 06/15/06 19,115 19,648 NISSAN AUTO RECV 2002 B 3.990% 12/15/05 36,250 37,240 FEDERAL HOME LN MTG CORP 5.950% 07/15/10 1,538 1,540 CA INFRASTRUCT & ECN DEVBK 6.420% 09/25/08 20,893 22,744 UBS AG WRAPPER (2,180) WESTLB AG: CA INFRASTRUCT & ECN DEVBK 6.280% 09/25/05 12,951 13,245 MBNA MSTR CC TR II 6.900% 01/15/08 18,685 20,742 WESTLB AG WRAPPER (1,583) ---------- ---------- TOTAL SYNTHETIC INVESTMENT CONTRACTS WITH FINANCIAL INSTITUTIONS $ 266,994 $ 271,030 ---------- ---------- TOTAL MERRILL LYNCH FLOATING RATE LONG-TERM FIXED INCOME FUND $ 690,255 $ 694,291
-21- EXHIBIT 1 EXXONMOBIL SAVINGS PLAN SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) 12/31/02 (thousands)
SHARES/ CURRENT UNITS COST VALUE FUND/ISSUE (000's) ($000's) ($000's) - ------------------------------------------------------------------------- *PARTICIPANT LOANS - ------------------ (ANNUAL INTEREST RATES FROM 4.5% TO 9.5%, MATURITIES FROM 12 MONTHS TO 60 MONTHS) $ 47,880 ----------- TOTAL PARTICIPANT-DIRECTED INVESTMENTS $12,398,720 ----------- *EXXONMOBIL CORPORATION COMMON 21,971 $ 328,338 $ 767,664 STOCK (non-participant directed) ---------- ----------- TOTAL NON-PARTICIPANT-DIRECTED INVESTMENTS $ 328,338 $ 767,664 ---------- ----------- TOTAL ASSETS HELD FOR INVESTMENT PURPOSES $13,166,384 =========== * Party-in-interest as defined by ERISA
-22- EXHIBIT 2 EXXONMOBIL SAVINGS PLAN SCHEDULE H, LINE 4i SCHEDULE OF ASSETS (ACQUIRED AND DISPOSED OF WITHIN THE PLAN YEAR) 12/31/02 (thousands of dollars)
PAR VALUE OF MATURITY ACQUISITIONS/ PROCEEDS OF IDENTITY OF ISSUER COUPON DATE (DISPOSITIONS) DISPOSITIONS - ------------------------------------------------------------------------- BMW VEH OWNER TR NT CL A-2 2.830% 12/25/04 $15,000 (767) $ 767 HONDA AUTO REC OWNER TR 2.910% 09/15/04 20,000 (13,000) 13,105
-23- Report of Independent Auditors To the Participants and Administrator of the ExxonMobil Savings Plan: In our opinion, the accompanying statements of net assets available for benefits and the related statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of the ExxonMobil Savings Plan (the "Savings Plan") at December 31, 2002 and 2001, and the changes in net assets available for benefits for the year ended December 31, 2002 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Savings Plan's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted in the United States of America, which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets (held at end of year) and schedule of assets (acquired and disposed of within the plan year) are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedules are the responsibility of the Savings Plan's management. The supplemental schedules have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. PricewaterhouseCoopers LLP Houston, Texas June 27, 2003 -24- SIGNATURE ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the Plan) have duly caused this Annual Report to be signed by the undersigned hereunto duly authorized. EXXONMOBIL SAVINGS PLAN (Name of Plan) /s/ S. B. L. Penrose ___________________________________ S. B. L. Penrose Pursuant to delegation by Administrator-Finance Dated: June 27, 2003 -25- EXHIBIT INDEX ------------- EXHIBIT 23. Consent of PricewaterhouseCoopers LLP, Independent Auditors, Dated June 27, 2003 -26- EXHIBIT 23 CONSENT OF INDEPENDENT AUDITORS ---------------------------------- We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (No. 333-72955) of Exxon Mobil Corporation of our report dated June 27, 2003 relating to the financial statements and the supplemental schedules of the ExxonMobil Savings Plan, which appear in this Form 11-K. PricewaterhouseCoopers LLP Houston, Texas June 27, 2003 -27-