Disclosures About Segments And Related Information

12 Months Ended

Dec. 31, 2017

Disclosures About Segments And Related Information [Abstract]

Disclosures About Segments And Related Information

18. Disclosures about Segments and Related Information

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 to assess its performance; and (3) for which discrete financial information is available.

Earnings after income tax include transfers at estimated market prices.

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 $136 million in 2017, $63 million in 2016 and $100 million in 2015.

													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, 2017
Earnings after income tax		6,622		6,733		1,948		3,649		2,190		2,328		(3,760)		19,710
Earnings of equity companies included above		216		3,618		118		490		90		1,217		(369)		5,380
Sales and other operating revenue		9,349		14,508		61,695		122,881		11,035		17,659		35		237,162
Intersegment revenue		5,729		22,935		14,857		22,263		7,270		5,550		208		-
Depreciation and depletion expense		6,963		9,741		658		883		299		504		845		19,893
Interest revenue		-		-		-		-		-		-		36		36
Interest expense		87		29		1		6		-		-		478		601
Income tax expense (benefit)		(8,552)		5,463		(61)		934		362		664		16		(1,174)
Effect of U.S. tax reform - noncash		(7,602)		480		(618)		-		(335)		-		2,133		(5,942)
Additions to property, plant and equipment		9,761		8,617		769		1,551		1,330		2,019		854		24,901
Investments in equity companies		4,680		14,494		276		1,462		341		3,387		(286)		24,354
Total assets		89,048		155,822		18,172		34,294		13,363		21,133		16,859		348,691

As of December 31, 2016
Earnings after income tax		(4,151)		4,347		1,094		3,107		1,876		2,739		(1,172)		7,840
Earnings of equity companies included above		53		3,359		58		404		111		1,188		(367)		4,806
Sales and other operating revenue (1)		7,552		12,278		52,630		102,756		9,944		15,447		21		200,628
Intersegment revenue		3,827		18,099		11,796		18,775		6,404		4,211		236		-
Depreciation and depletion expense		9,626		9,550		628		889		275		477		863		22,308
Interest revenue		-		-		-		-		-		-		30		30
Interest expense		17		29		1		8		-		-		398		453
Income tax expense (benefit)		(2,600)		1,818		396		951		693		609		(2,273)		(406)
Additions to property, plant and equipment		3,144		7,878		791		1,525		1,463		482		817		16,100
Investments in equity companies		4,917		11,364		111		1,255		158		3,247		(242)		20,810
Total assets		86,146		153,183		16,201		29,208		11,600		18,453		15,523		330,314

As of December 31, 2015
Earnings after income tax		(1,079)		8,180		1,901		4,656		2,386		2,032		(1,926)		16,150
Earnings of equity companies included above		226		5,831		170		444		144		1,235		(406)		7,644
Sales and other operating revenue (1)		8,241		15,446		69,706		119,050		10,879		16,524		8		239,854
Intersegment revenue		4,344		20,839		12,440		22,166		7,442		5,168		274		-
Depreciation and depletion expense		5,301		9,227		664		1,003		375		654		824		18,048
Interest revenue		-		-		-		-		-		-		46		46
Interest expense		26		27		8		4		-		1		245		311
Income tax expense (benefit)		(879)		4,703		866		1,325		646		633		(1,879)		5,415
Additions to property, plant and equipment		6,915		14,561		916		1,477		1,865		629		1,112		27,475
Investments in equity companies		5,160		10,980		95		1,179		125		3,025		(227)		20,337
Total assets		93,648		155,316		16,498		29,808		10,174		18,236		13,078		336,758

(1) Sales and other operating revenue excludes previously reported sales-based taxes of $17,980 million for 2016 and $19,634 million for 2015. See Note 2: Accounting Changes.

Geographic

Sales and other operating revenue (1)		2017	2016	2015
		(millions of dollars)

United States		82,079	70,126	88,826
Non-U.S.		155,083	130,502	151,028
	Total	237,162	200,628	239,854

Significant non-U.S. revenue sources include:
	Canada	20,116	17,682	19,076
	United Kingdom	16,611	15,452	20,605
	Belgium	13,633	10,834	12,481
	Singapore	11,589	9,919	10,632
	Italy	11,476	9,715	11,220
	France	11,235	9,487	10,631
	Germany	8,484	7,899	8,447

(1) Sales and other operating revenue excludes previously reported sales-based taxes of $17,980 million for 2016 and $19,634 million for 2015. See Note 2: Accounting Changes.

Long-lived assets		2017	2016	2015
		(millions of dollars)

United States		105,101	101,194	107,039
Non-U.S.		147,529	143,030	144,566
	Total	252,630	244,224	251,605

Significant non-U.S. long-lived assets include:
	Canada	41,138	40,144	39,775
	Australia	16,908	16,510	15,894
	Singapore	11,292	9,769	9,681
	Kazakhstan	10,121	10,325	9,705
	Nigeria	9,734	11,314	12,222
	Papua New Guinea	8,463	5,719	5,985
	Angola	7,689	8,413	8,777
	Russia	5,702	4,828	4,744