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Financial Highlights - ExxonMobil Corporation full year

Source: www.gulfoilandgas.com 2/1/2007, Location: North America

· Earnings excluding special items were a record $39,090 million, an increase of 15% reflecting ExxonMobil's continuing strong performance across all business segments.

· Earnings per share excluding special items increased by 22% due to strong earnings and the continuing reduction in the number of shares outstanding.

· Net income was up 9%. Net income for 2006 included a special gain of $410 million for a tax-related benefit. Net income for 2005 included a $1,620 million special gain related to the restructuring of the Corporation's interest in the Dutch gas transportation business, a $460 million positive impact from the sale of the Corporation's interest in Sinopec, a $390 million litigation gain and a $200 million litigation charge.

· Cash flow from operations and asset sales was approximately $52.4 billion, including $3.1 billion from asset sales.

· The Corporation distributed a total of $32.6 billion to shareholders in 2006 through dividends and share purchases to reduce shares outstanding, an increase of $9.4 billion versus 2005.

· Capital and exploration expenditures were $19.9 billion, an increase of $2.2 billion versus 2005.

· Liquids production increased 10% excluding divestment and entitlement impacts.

Upstream earnings excluding special items were $26,230 million, an increase of $3,501 million from 2005. Higher liquids and natural gas realizations were partly offset by higher operating expenses.

On an oil-equivalent basis, production increased 4% from last year. Excluding divestment and entitlement effects, production increased by 7%.

Liquids production of 2,681 kbd increased by 158 kbd from 2005. Higher production from projects in West Africa and increased Abu Dhabi volumes were partly offset by mature field decline, entitlement effects and divestment impacts. Excluding entitlement effects and divestments, liquids production increased 10%.

Natural gas production of 9,334 mcfd, increased 83 mcfd from 2005. Higher volumes from projects in Qatar were partly offset by mature field decline.

Earnings from U.S. Upstream operations for 2006 were $5,168 million, a decrease of $1,032 million. Earnings outside the U.S., excluding special items, were $21,062 million, $4,533 million higher than 2005.

Downstream earnings excluding special items were $8,454 million, an increase of $572 million from 2005 reflecting stronger worldwide refining margins and marketing margins, partly offset by lower refining throughput. Petroleum product sales of 7,247 kbd decreased from 7,519 kbd in 2005, primarily due to lower refining throughput and divestments.

U.S. Downstream earnings excluding special items were $4,250 million, up $139 million. Non-U.S. Downstream earnings excluding special items were $4,204 million, $433 million higher than last year.

Chemical earnings excluding special items were $4,382 million, up $979 million from 2005. Margins and volumes were both higher. Prime product sales were 27,350 kt, up 573 kt from 2005.

Corporate and financing earnings excluding special items were $24 million, an increase of $178 million, mainly due to higher interest income.

Gross share purchases in 2006 were $29.6 billion which reduced shares outstanding by 6.6%.

Estimates of key financial and operating data follow. Financial data, except per share amounts, are expressed in either millions or billions of dollars

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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