Policy

The Upstream, Downstream and Chemical functions best define the operating segments of the business that are reported separately. The factors used to identify these reportable segments are based on the nature of the operations that are undertaken by each segment. The Upstream segment is organized and operates to explore for and produce crude oil and natural gas. The Downstream segment is organized and operates to manufacture and sell petroleum products. The Chemical segment is organized and operates to manufacture and sell petrochemicals. These segments are broadly understood across the petroleum and petrochemical industries.

These functions have been defined as the operating segments of the Corporation because they are the segments (1) that engage in business activities from which revenues are earned and expenses are incurred; (2) whose operating results are regularly reviewed by the Corporation's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance; and (3) for which discrete financial information is available.

In corporate and financing activities, interest revenue relates to interest earned on cash deposits and marketable securities. Interest expense includes non-debt-related interest expense of $202 million and $165 million in 2012 and 2011, respectively. For 2013, non-debt-related interest expense was a net credit of $123 million, primarily reflecting the effect of credits from the favorable resolution of prior year tax positions.

													Corporate
	Upstream				Downstream				Chemical					and	Corporate
	U.S.		Non-U.S.		U.S.		Non-U.S.		U.S.		Non-U.S.		Financing			Total
		(millions of dollars)
As of December 31, 2013
Earnings after income tax		4,191		22,650		2,199		1,250		2,755		1,073		(1,538)		32,580
Earnings of equity companies above		1,576		11,627		(460)		22		189		1,422		(449)		13,927
Sales and other operating revenue (1)		13,712		25,349		123,802		218,904		15,295		23,753		21		420,836
Intersegment revenue		8,343		45,761		20,781		52,624		11,993		8,232		285		-
Depreciation and depletion expense		5,170		8,277		633		1,390		378		632		702		17,182
Interest revenue		-		-		-		-		-		-		87		87
Interest expense		30		26		7		8		1		-		(63)		9
Income taxes		2,197		21,554		721		481		989		363		(2,042)		24,263
Additions to property, plant and equipment		7,480		26,075		616		1,072		840		272		1,386		37,741
Investments in equity companies		4,975		9,740		62		1,749		217		3,103		(227)		19,619
Total assets		88,698		157,465		19,261		40,661		7,816		19,659		13,248		346,808

As of December 31, 2012
Earnings after income tax		3,925		25,970		3,575		9,615		2,220		1,678		(2,103)		44,880
Earnings of equity companies above		1,759		11,900		6		387		183		1,267		(492)		15,010
Sales and other operating revenue (1)		11,039		27,673		125,088		248,959		14,723		24,003		24		451,509
Intersegment revenue		8,764		47,507		20,963		62,130		12,409		9,750		258		-
Depreciation and depletion expense		5,104		7,340		594		1,280		376		508		686		15,888
Interest revenue		-		-		-		-		-		-		117		117
Interest expense		37		13		3		36		-		(1)		239		327
Income taxes		2,025		25,362		1,811		1,892		755		232		(1,032)		31,045
Additions to property, plant and equipment		9,697		21,769		480		1,153		338		659		1,083		35,179
Investments in equity companies		4,020		9,147		195		2,069		233		3,143		(277)		18,530
Total assets		86,146		140,848		18,451		40,956		7,238		18,886		21,270		333,795

As of December 31, 2011
Earnings after income tax		5,096		29,343		2,268		2,191		2,215		2,168		(2,221)		41,060
Earnings of equity companies above		2,045		11,768		7		353		198		1,365		(447)		15,289
Sales and other operating revenue (1)		14,023		32,419		120,844		257,779		15,466		26,476		22		467,029
Intersegment revenue		9,807		49,910		18,489		73,549		12,226		10,563		262		-
Depreciation and depletion expense		4,879		7,021		650		1,560		380		458		635		15,583
Interest revenue		-		-		-		-		-		-		135		135
Interest expense		30		36		10		24		2		(1)		146		247
Income taxes		2,852		25,755		1,123		696		1,027		465		(867)		31,051
Additions to property, plant and equipment		10,887		18,934		400		1,334		241		910		932		33,638
Investments in equity companies		2,963		8,439		210		1,358		253		3,973		(228)		16,968
Total assets		82,900		127,977		18,354		51,132		7,245		19,862		23,582		331,052

(1) Sales and other operating revenue includes sales-based taxes of $30,589 million for 2013, $32,409 million for 2012 and $33,503 million for 2011. See Note 1, Summary of Accounting Policies.

Geographic

Sales and other operating revenue (1)		2013	2012	2011
		(millions of dollars)

United States		152,820	150,865	150,343
Non-U.S.		268,016	300,644	316,686
	Total	420,836	451,509	467,029

Significant non-U.S. revenue sources include:
	Canada	35,924	34,325	34,626
	United Kingdom	34,061	33,600	34,833
	Belgium	20,973	23,567	26,926
	Italy	19,273	18,228	16,288
	France	18,444	19,601	18,510
	Germany	15,701	15,871	17,034
	Singapore	15,623	14,606	14,400
	Japan	124	14,162	31,925

Long-lived assets		2013	2012	2011
		(millions of dollars)

United States		98,271	94,336	91,146
Non-U.S.		145,379	132,613	123,518
	Total	243,650	226,949	214,664

Significant non-U.S. long-lived assets include:
	Canada	41,522	31,979	24,458
	Australia	14,258	13,415	9,474
	Nigeria	12,343	12,216	11,806
	Singapore	9,570	9,700	9,285
	Kazakhstan	8,530	7,785	7,022
	Angola	8,262	8,238	10,395
	Norway	6,542	7,040	6,039
	Papua New Guinea	5,768	4,599	3,013

EXXON MOBIL CORP | 2013 | FY |

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