. | 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 |
. |
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 |
. |
1Q22 INVESTOR RELATIONS DATA SUMMARY (PAGE 3 of 4) | ||||||||
Earnings Factor Analysis, $M | 1Q22 vs 1Q21 | 1Q22 vs 4Q21 | ||||||
Upstream | ||||||||
Prior Period | 2,554 | 6,085 | ||||||
Realization | 5,930 | 2,160 | ||||||
Volume / Mix | (810) | (950) | ||||||
Other | (3,190) | (2,810) | ||||||
Expenses | (80) | 230 | ||||||
Identified Items | (3,260) | (2,710) | ||||||
Other | 150 | (330) | ||||||
Current Period | 4,488 | 4,488 | ||||||
Downstream | ||||||||
Prior Period | (390) | 1,467 | ||||||
Margin | 310 | (1,040) | ||||||
Volume / Mix | 180 | (280) | ||||||
Other | 230 | 190 | ||||||
Expenses | (40) | 160 | ||||||
Other | 270 | 30 | ||||||
Current Period | 332 | 332 | ||||||
Chemical | ||||||||
Prior Period | 1,415 | 1,921 | ||||||
Margin | (20) | (240) | ||||||
Volume / Mix | 70 | 100 | ||||||
Other | (110) | (430) | ||||||
Expenses | (100) | 150 | ||||||
Identified Items | — | (630) | ||||||
Other | (10) | 50 | ||||||
Current Period | 1,354 | 1,354 | ||||||
Upstream Volume Factor Analysis, koebd | 1Q22 vs 1Q21 | 1Q22 vs 4Q21 | ||||||
Prior Period | 3,787 | 3,816 | ||||||
Downtime / Maintenance | (70) | (121) | ||||||
Growth / Decline | 59 | 17 | ||||||
Entitlements / Divestments | (136) | (85) | ||||||
Government Mandates | 113 | 32 | ||||||
Other | (78) | 16 | ||||||
Current Period | 3,675 | 3,675 |
. |
1Q22 INVESTOR RELATIONS DATA SUMMARY (PAGE 4 of 4) | |||||||||||||||||
Average Realization Data | 1Q22 | 4Q21 | 3Q21 | 2Q21 | 1Q21 | ||||||||||||
United States | |||||||||||||||||
ExxonMobil | |||||||||||||||||
Crude ($/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 | ||||||||||||||||
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). |