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Income And Other Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income And Other Taxes [Abstract] |
Schedule Of Income And Other Taxes |
(millions of dollars) | 2024 |  | 2023 |  | 2022
U.S. | Non-U.S. | Total |  | U.S. | Non-U.S. | Total |  | U.S. | Non-U.S. | Total
Income tax expense (benefit) Federal and non-U.S. |  |  |  |  |  |  |  |  |  |  |
Current | 2,061 |  | 11,940 |  | 14,001 |  |  | 1,987 |  | 12,111 |  | 14,098 |  |  | 696 |  | 15,071 |  | 15,767 |
Deferred - net | (318) |  | (512) |  | (830) |  |  | 463 |  | 481 |  | 944 |  |  | 4,122 |  | (539) |  | 3,583 |
U.S. tax on non-U.S. operations | 241 |  | — |  | 241 |  |  | 315 |  | — |  | 315 |  |  | 65 |  | — |  | 65 |
Total federal and non-U.S. | 1,984 |  | 11,428 |  | 13,412 |  |  | 2,765 |  | 12,592 |  | 15,357 |  |  | 4,883 |  | 14,532 |  | 19,415 |
State | 398 |  | — |  | 398 |  |  | 72 |  | — |  | 72 |  |  | 761 |  | — |  | 761 |
Total income tax expense (benefit) | 2,382 |  | 11,428 |  | 13,810 |  |  | 2,837 |  | 12,592 |  | 15,429 |  |  | 5,644 |  | 14,532 |  | 20,176 |
All other taxes and duties |  |  |  |  |  |  |  |  |  |  |
Other taxes and duties | 3,849 |  | 22,439 |  | 26,288 |  |  | 3,871 |  | 25,140 |  | 29,011 |  |  | 4,087 |  | 23,832 |  | 27,919 |
Included in production and manufacturing expenses | 2,510 |  | 652 |  | 3,162 |  |  | 1,961 |  | 726 |  | 2,687 |  |  | 2,204 |  | 862 |  | 3,066 |
Included in SG&A expenses | 179 |  | 265 |  | 444 |  |  | 183 |  | 310 |  | 493 |  |  | 151 |  | 319 |  | 470 |
Total other taxes and duties | 6,538 |  | 23,356 |  | 29,894 |  |  | 6,015 |  | 26,176 |  | 32,191 |  |  | 6,442 |  | 25,013 |  | 31,455 |
Total | 8,920 |  | 34,784 |  | 43,704 |  |  | 8,852 |  | 38,768 |  | 47,620 |  |  | 12,086 |  | 39,545 |  | 51,631 |
Reconciliation Between Income Tax Expense And A Theoretical U.S. Tax | The reconciliation between income tax expense (credit) and a theoretical U.S. tax computed by applying a rate of 21 percent for 2024, 2023, and 2022 is as follows:
(millions of dollars) | 2024 |  | 2023 |  | 2022
Income (loss) before income taxes |  |  |  |  |
United States | 12,258 |  |  | 14,786 |  |  | 28,281 |
Non-U.S. | 36,615 |  |  | 37,997 |  |  | 49,472 |
Total | 48,873 |  |  | 52,783 |  |  | 77,753 |
Theoretical tax | 10,263 |  |  | 11,084 |  |  | 16,328 |
Effect of equity method of accounting | (1,301) |  |  | (1,341) |  |  | (2,407) |
Non-U.S. taxes in excess of/(less than) theoretical U.S. tax (1) | 4,986 |  |  | 5,888 |  |  | 6,423 |
State taxes, net of federal tax benefit | 314 |  |  | 57 |  |  | 601 |
Other | (452) |  |  | (259) |  |  | (769) |
Total income tax expense (credit) | 13,810 |  |  | 15,429 |  |  | 20,176 |
Effective tax rate calculation |  |  |  |  |
Income tax expense (credit) | 13,810 |  |  | 15,429 |  |  | 20,176 |
ExxonMobil share of equity company income taxes | 3,197 |  |  | 3,058 |  |  | 7,594 |
Total income tax expense (credit) | 17,007 |  |  | 18,487 |  |  | 27,770 |
Net income (loss) including noncontrolling interests | 35,063 |  |  | 37,354 |  |  | 57,577 |
Total income (loss) before taxes | 52,070 |  |  | 55,841 |  |  | 85,347 |
Effective income tax rate | 33% |  | 33% |  | 33%
(1) Includes the impact of the additional European taxes on the energy sector of $115 million and $1,825 million in 2023 and 2022, respectively.
Deferred Tax Liabilities/(Assets) | Deferred tax liabilities/(assets) are comprised of the following at December 31:
Tax effects of temporary differences for: (millions of dollars) | 2024 |  | 2023
Property, plant and equipment | 40,881 |  |  | 26,627 |
Other liabilities | 8,113 |  |  | 7,534 |
Total deferred tax liabilities | 48,994 |  |  | 34,161 |
Pension and other postretirement benefits | (1,365) |  |  | (1,777) |
Asset retirement obligations | (3,156) |  |  | (3,532) |
Tax loss carryforwards | (4,575) |  |  | (4,317) |
Other assets | (7,308) |  |  | (6,361) |
Total deferred tax assets | (16,404) |  |  | (15,987) |
Asset valuation allowances | 2,516 |  |  | 2,641 |
Net deferred tax liabilities | 35,106 |  |  | 20,815 |
Deferred Income Tax (Assets) And Liabilities By Balance Sheet Classification |
Balance sheet classification (millions of dollars) | 2024 |  | 2023
Other assets, including intangibles, net | (3,936) |  |  | (3,637) |
Deferred income tax liabilities | 39,042 |  |  | 24,452 |
Net deferred tax liabilities | 35,106 |  |  | 20,815 |
Unrecognized Tax Benefits | The following table summarizes the movement in unrecognized tax benefits:
Gross unrecognized tax benefits (millions of dollars) | 2024 |  | 2023 |  | 2022
Balance at January 1 | 3,935 |  |  | 3,398 |  |  | 9,130 |
Additions based on current year's tax positions | 376 |  |  | 350 |  |  | 539 |
Additions for prior years' tax positions | 103 |  |  | 400 |  |  | 294 |
Reductions for prior years' tax positions | (293) |  |  | (38) |  |  | (6,243) |
Reductions due to lapse of the statute of limitations | (17) |  |  | (25) |  |  | (16) |
Settlements with tax authorities | (13) |  |  | (153) |  |  | (277) |
Foreign exchange effects/other | (56) |  |  | 3 |  |  | (29) |
Balance at December 31 | 4,035 |  |  | 3,935 |  |  | 3,398 |
Remaining Tax Years Subject To Examination By Major Tax Jurisdiction | The following table summarizes the tax years that remain subject to examination by major tax jurisdiction:
Country of Operation | Open Tax Years
Canada | 2001 | — | 2024
Kazakhstan | 2015 | — | 2024
Nigeria | 2017 | — | 2024
Papua New Guinea | 2008 | — | 2024
United Arab Emirates |  |  | 2024
United States | 2010 | — | 2024

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