Fourth Quarter 2013 Earnings Call David Rosenthal Vice President Investor Relations & Secretary January 30, 2014
Business Environment Global economic growth continued at a modest pace in the 4th quarter Moderate U.S. economic growth sustained Chinas growth rate stabilized European economic recovery remained sluggish WTI prices declined,…
4Q13 Financial Results Earnings 8.4 Earnings Per Share Diluted (dollars) 1.91 Shareholder Distributions 5.8 CAPEX 9.9 1 Cash Flow from Ops and Asset Sales 12.0 2 Cash 4.9 Debt 22.7 Billions of dollars unless specified…
4Q13 Sources and Uses of Funds Cash decreased by 0.8B in the fourth quarter Beginning Cash 5.7 Earnings 8.4 Depreciation 4.4 12.0 Working Capital / Other (2.6) Proceeds Associated with Asset Sales 1.8 Additions to PP&E (8.4)…
Total Earnings 4Q13 vs. 4Q12 Earnings decreased by 1.6B as lower earnings across all business segments were partially offset by reduced corporate and financing expenses Millions of Dollars 9,950 (976) (852) (48) 276 8,350…
Total Earnings 4Q13 vs. 3Q13 Earnings increased 480M as higher Upstream and Downstream earnings, and lower corporate and financing expenses were partly offset by lower Chemical earnings Millions of Dollars 324 (115) 198 8,350…
Upstream Earnings 4Q13 vs. 4Q12 Earnings decreased 976M primarily driven by unfavorable volume mix effects and higher costs Millions of Dollars 7,762 60 (550) (490) 6,786 4Q12 Realization Vol/Mix Other 4Q13 8
Upstream Volumes 4Q13 vs. 4Q12 Volumes decreased 1.8%: liquids +32 kbd, natural gas -654 mcfd koebd 4,293 (42) 0 (22) (13) 4,216 Price/Spend: (39) Net Interest: (3) 4Q12 Entitlements Quotas Divestments Net Growth 4Q13 9
Upstream Earnings 4Q13 vs. 3Q13 Earnings increased 73M mainly due to higher gains on asset sales and increased volumes mostly offset by lower liquids realizations Millions of Dollars 6,713 (430) 410 6,786 90 3Q13 Realization…
Upstream Volumes 4Q13 vs. 3Q13 Volumes increased 4.9%: liquids +36 kbd, natural gas +973 mcfd koebd 143 4,216 4,018 61 0 (6) Price/Spend: 61 Net Interest: - 3Q13 Entitlements Quotas Divestments Net Growth 4Q13 11
Downstream Earnings 4Q13 vs. 4Q12 Earnings decreased by 852M mainly due to lower non-U.S. refining margins Millions of Dollars 1,768 (680) 110 (280) 916 4Q12 Margin Vol/Mix Other 4Q13 12
Downstream Earnings 4Q13 vs. 3Q13 Earnings increased 324M mainly due to refining optimization activities Millions of Dollars 330 (120) 916 120 592 3Q13 Margin Vol/Mix Other 4Q13 13
Chemical Earnings 4Q13 vs. 4Q12 Earnings decreased 48M due to lower specialty product margins Millions of Dollars 958 (70) 50 (30) 910 4Q12 Margin Vol/Mix Other 4Q13 14
Chemical Earnings 4Q13 vs. 3Q13 Earnings decreased 115M mainly due to lower margins in Europe Millions of Dollars 1,025 (95) 0 (20) 910 3Q13 Margin Vol/Mix Other 4Q13 15
Upstream Major Projects Progressing major project start-ups to deliver profitable growth 1st PNG LNG deliveries 3Q 2014 Kearl expansion 70% complete Progressing Upper Zakum expansion towards 750 kbd Artificial islands near…
Upstream Exploration Continuing active exploration program Tanzania Block 2 Mronge-1 5th significant gas discovery = ExxonMobil Interest 17-20 TCF of gas in place Additional exploration drilling in 2014 Block 2 Block 2 Mronge…
Downstream Investments Strengthening the Downstream portfolio Expanded Low-Sulfur Diesel production capacity at Singapore Refinery 62 KBD Hydrotreater commissioned in December Commissioned Augusta Refinery Cogeneration Plant…
2013 Financial Results Earnings 32.6 Earnings Per Share Diluted (dollars) 7.37 Shareholder Distributions 25.9 CAPEX 42.5 1 Cash Flow from Ops and Asset Sales 47.6 2 Cash 4.9 Debt 22.7 Billions of dollars unless specified…
2013 Sources and Uses of Funds Cash decreased by 5B in 2013 Beginning Cash 9.9 Earnings 32.6 Depreciation 17.2 47.6 Working Capital / Other (4.9) Proceeds Associated with Asset Sales 2.7 Additions to PP&E (33.7) Shareholder…
Total Earnings 2013 vs. 2012 Earnings decreased by 12.3B, primarily due to lower net gains from divestments of 8.6B Millions of Dollars 44,880 (3,054) (9,741) (70) 565 32,580 Earnings impact from asset divestments 2012…
Upstream Earnings 2013 vs. 2012 Earnings decreased 3.1B mainly due to unfavorable volume mix effects, higher costs, and lower gains from asset sales Millions of Dollars 29,895 390 (910) (2,530) 26,841 Earnings impact from…
Upstream Volumes 2013 vs. 2012 Volumes decreased 1.5%: liquids +17 kbd, natural gas -486 mcfd koebd 4,239 (47) 3 (26) 6 4,175 Price/Spend: (9) Net Interest: (38) 2012 Entitlements Quotas Divestments Net Growth 2013 23
Upstream Volumes 2013 Actual vs. March Outlook Total production volumes in line with target koebd Operational performance better 43 (58) than expected 4,194 Strong uptime 0 (4) 4,175 Increased U.S. liquids production Analyst…
Downstream Earnings 2013 vs. 2012 Earnings decreased by 9.7B due to the absence of gains from the Japan restructuring and other divestments, and lower refining margins Millions of Dollars 13,190 (2,870) (310) (6,560)…
Chemical Earnings 2013 vs. 2012 Earnings decreased by 70M due to the absence of gains from the Japan restructuring, partly offset by higher commodity margins Millions of Dollars 480 80 (630) 3,898 3,828 Earnings impact from…
Summary ExxonMobils strong financial and operating performance continues to create long-term shareholder value Billions 2013 Highlights Achieved production target Earnings 32.6 Progressed attractive opportunities Cash Flow from…
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