Exxon Mobil 8K Results of Operations and Financial Condition | XOM 31 Jan 20

EXXON MOBIL CORPORATION					EXHIBIT 99.2

To assist investors in assessing 4Q19 results, the following disclosures have been made available in this 8-K filing:
	- Identified items of $0.92 per share assuming dilution, as noted in the first paragraph 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 and attachment V of the news release

4Q19 INVESTOR RELATIONS DATA SUMMARY (PAGE 1 of 4)

Earnings, $M		4Q19	3Q19	2Q19	1Q19	4Q18
Upstream
	United States	68	37	335	96	265
	Non-U.S.	6,069	2,131	2,926	2,780	3,048
	Total	6,137	2,168	3,261	2,876	3,313
Downstream
	United States	895	673	310	(161)	987
	Non-U.S.	3	557	141	(95)	1,717
	Total	898	1,230	451	(256)	2,704
Chemical
	United States	(2)	53	(6)	161	282
	Non-U.S.	(353)	188	194	357	455
	Total	(355)	241	188	518	737

Corporate and financing		(990)	(469)	(770)	(788)	(754)
Net income attributable to ExxonMobil (U.S. GAAP)		5,690	3,170	3,130	2,350	6,000

Earnings per common share (U.S. GAAP)		1.33	0.75	0.73	0.55	1.41
Earnings per common share
- assuming dilution (U.S. GAAP)		1.33	0.75	0.73	0.55	1.41

Exploration expenses, including dry holes		357	299	333	280	555

Capital and Exploration Expenditures, $M
Upstream
	United States	2,848	3,002	3,255	2,548	2,630
	Non-U.S.	3,243	2,789	2,987	2,813	3,620
	Total	6,091	5,791	6,242	5,361	6,250
Downstream
	United States	725	590	624	414	325
	Non-U.S.	635	479	489	415	541
	Total	1,360	1,069	1,113	829	866
Chemical
	United States	786	656	553	552	579
	Non-U.S.	213	196	165	144	132
	Total	999	852	718	696	711
Other		10	7	6	4	16

Total Capital and Exploration Expenditures		8,460	7,719	8,079	6,890	7,843

Effective Income Tax Rate, %		20%	37%	34%	53%	32%

Common Shares Outstanding, millions
	At quarter end	4,234	4,231	4,231	4,231	4,237
	Average - assuming dilution	4,269	4,271	4,271	4,270	4,270

Total Cash and Cash Equivalents, $B		3.1	5.4	4.2	4.6	3.0

Total Debt, $B		46.9	47.1	45.2	40.8	37.8

Cash Flow from Operations and Asset Sales, $M
	Net cash provided by operating activities	6,352	9,079	5,947	8,338	8,607
	Proceeds associated with asset sales	3,092	460	33	107	884
	Cash flow from operations and asset sales	9,444	9,539	5,980	8,445	9,491
	Changes in working capital	1,641	(1,550)	1,243	(2,257)	1,331
	Cash flow from operations and asset sales	11,085	7,989	7,223	6,188	10,822
	excluding working capital

EXXON MOBIL CORPORATION

4Q19 INVESTOR RELATIONS DATA SUMMARY (PAGE 2 of 4)

Net production of crude oil, natural gas		4Q19	3Q19	2Q19	1Q19	4Q18
liquids, bitumen and synthetic oil, kbd
	United States	665	654	662	600	583
	Canada / Other Americas	487	464	469	454	474
	Europe	93	113	103	121	122
	Africa	366	371	383	369	376
	Asia	780	738	727	746	745
	Australia / Oceania	45	52	45	37	48
Total liquids production		2,436	2,392	2,389	2,327	2,348

Natural gas production available for sale, mcfd
	United States	2,713	2,883	2,803	2,712	2,581
	Canada / Other Americas	287	254	249	238	247
	Europe	1,508	1,004	1,215	2,113	1,943
	Africa	10	7	5	7	16
	Asia	3,753	3,433	3,461	3,655	3,804
	Australia / Oceania	1,224	1,464	1,387	1,199	1,383
Total natural gas production available for sale		9,495	9,045	9,120	9,924	9,974

Total worldwide liquids and gas production, koebd ¹		4,018	3,899	3,909	3,981	4,010

Refinery throughput, kbd
	United States	1,675	1,647	1,430	1,373	1,661
	Canada	322	363	344	383	408
	Europe	1,304	1,325	1,314	1,325	1,366
	Asia Pacific	570	532	683	609	670
	Other Non-U.S.	182	185	159	196	193
Total refinery throughput		4,053	4,052	3,930	3,886	4,298

Petroleum product sales, kbd
	United States	2,356	2,336	2,264	2,210	2,230
	Canada	444	492	482	484	516
	Europe	1,456	1,508	1,443	1,510	1,474
	Asia Pacific	729	700	775	749	825
	Other Non-U.S.	497	468	444	462	450
Total petroleum product sales		5,482	5,504	5,408	5,415	5,495

	Gasolines, naphthas	2,276	2,255	2,198	2,149	2,183
	Heating oils, kerosene, diesel	1,903	1,833	1,820	1,914	1,915
	Aviation fuels	399	445	391	386	376
	Heavy fuels	217	261	308	299	387
	Specialty products	687	710	691	667	634
Total petroleum product sales		5,482	5,504	5,408	5,415	5,495

Chemical prime product sales, kt
	United States	2,294	2,216	2,295	2,322	2,577
	Non-U.S.	4,275	4,260	4,404	4,450	4,095
Total chemical prime product sales		6,569	6,476	6,699	6,772	6,672

¹ Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.

EXXON MOBIL CORPORATION

4Q19 INVESTOR RELATIONS DATA SUMMARY (PAGE 3 of 4)

Earnings Factor Analysis, $M				4Q19 vs. 4Q18	4Q19 vs. 3Q19	2019 vs. 2018
Upstream
	Prior Period			3,313	2,168	14,079
		Realization		-450	100	-2,710
		Volume / Mix		-140	210	860
		Other		3,410	3,660	2,210
			Identified Items	4,320	3,950	4,170
			Expenses	-130	-	-1,100
			Other	-780	-290	-860
	Current Period			6,137	6,137	14,442
Downstream
	Prior Period			2,704	1,230	6,010
		Margin		-1,620	-770	-2,980
		Volume / Mix		80	270	-50
			Downtime / Maintenance (Volume / Mix)	-40	120	-450
			Portfolio / Projects (Volume / Mix)	230	40	540
			Yield / Sales Mix (Volume / Mix)	-110	110	-140
		Other		-270	170	-660
			Identified Items	-950	-	-950
			LIFO Inventory Impact	450	540	450
			Downtime / Maintenance (Other)	140	-80	-200
			Portfolio / Projects (Other)	-50	-	-190
			Yield / Sales Mix (Other)	160	-50	210
			Expenses	-90	-250	-300
			Foreign Exchange	80	60	280
			Other	-10	-50	40
	Current Period			898	898	2,323
Chemical
	Prior Period			737	241	3,351
		Margin		-670	-410	-1,820
		Volume / Mix		-	30	-
			Downtime / Maintenance (Volume / Mix)	-10	20	-40
			New Assets (Volume / Mix)	40	40	300
			Other	-30	-30	-260
		Other		-420	-220	-940
			Identified Items	-210	-	-210
			Downtime / Maintenance (Other)	-10	-50	-70
			New Assets (Other)	-30	-	-240
			Expenses	-100	-160	-140
			Foreign Exchange	-30	-10	-140
			Other	-40	-	-140
	Current Period			-355	-355	592

Upstream Volume Factor Analysis, koebd
	Prior Period			4,010	3,899	3,833
		Downtime / Maintenance		-88	-9	-9
		Growth / Decline		120	-8	149
		Entitlements / Divestments		34	63	6
		Quotas		-2	-2	-
		Demand / Other		-56	75	-27
	Current Period			4,018	4,018	3,952

EXXON MOBIL CORPORATION

4Q19 INVESTOR RELATIONS DATA SUMMARY (PAGE 4 of 4)

Sources and Uses of Funds, $M			4Q19
Beginning Cash			5,351
	Earnings		5,690
	Depreciation		4,923
	Working Capital / Other		-4,261
	Proceeds Associated with Asset Sales		3,092
	PP&E Adds / Investments and Advances¹		-7,356
	Shareholder Distributions		-3,716
	Debt / Other Financing		-634
Ending Cash			3,089

¹ PP&E Adds / Investments and Advances includes PP&E adds of ($6.7B) and net advances of ($0.7B).

Average Realization Data			4Q19	3Q19	2Q19	1Q19	4Q18
United States
	ExxonMobil
		Crude ($/b)	55.61	54.51	57.95	53.30	54.50
		Natural Gas ($/kcf)	2.16	2.03	2.22	2.93	3.64

	Benchmarks
		WTI ($/b)	56.98	56.44	59.80	54.87	59.09
		ANS-WC ($/b)	64.38	63.03	68.18	64.40	68.65
		Henry Hub ($/mbtu)	2.50	2.23	2.64	3.15	3.65

Non-U.S.
	ExxonMobil
		Crude ($/b)	56.61	55.92	62.47	57.12	53.74
		Natural Gas ($/kcf)	5.89	5.81	5.84	7.18	8.18
		European NG ($/kcf)	5.15	4.37	5.10	6.85	7.46

	Benchmarks
		Brent ($/b)	63.26	61.94	68.83	63.20	67.76

The above numbers reflect ExxonMobil’s current estimate of volumes and realizations given data available as of the end of the fourth quarter of 2019. 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.

Exxon Mobil (XOM) 8-KResults of Operations and Financial Condition