DocumentUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11‑K
| | |
[x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended December 31, 2023
OR
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[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from __________ to ___________
Commission file number 1-2256
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A. Full title of the plan and the address of the plan, if different from that of the issuer named below: |
EXXONMOBIL SAVINGS PLAN
| | |
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: |
EXXON MOBIL CORPORATION
22777 Springwoods Village Parkway
Spring, Texas 77389-1425
EXXONMOBIL SAVINGS PLAN
TABLE OF CONTENTS
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Schedule H, Line 4i - Schedule of Assets (Held At End Of Year) | 10-14 |
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| 15 | |
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EXXONMOBIL SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
(millions of dollars)
| | | | | | | | | | | |
| December 31, |
| 2023 | | 2022 |
Assets | | | |
| | | |
Investments, at fair value (Note 5): | | | |
| | | |
Exxon Mobil Corporation common stock | 7,330 | | | 8,390 | |
| | | |
Other investments | 14,428 | | | 12,723 | |
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Other investments on loan | 30 | | | — | |
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Total investments | 21,788 | | | 21,113 | |
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Receivables: | | | |
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Notes receivable from participants | 126 | | | 139 | |
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Other receivables | 3 | | | 14 | |
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Total receivables | 129 | | | 153 | |
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Total assets | 21,917 | | | 21,266 | |
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Liabilities | | | |
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Payables and accrued liabilities | 71 | | | 73 | |
Payables for cash collateral on securities on loan | 9 | | | — | |
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Total liabilities | 80 | | | 73 | |
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Net assets available for benefits | 21,837 | | | 21,193 | |
The accompanying notes are an integral part of these financial statements.
EXXONMOBIL SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED 2023
(millions of dollars)
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Contributions: | |
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Employer | 266 | |
Participant | 425 | |
Transfers-in at fair value | 48 | |
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Total contributions | 739 | |
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Investment income/(loss): | |
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Interest | 177 | |
Dividends | 273 | |
Net appreciation/(depreciation) in fair value of investments | 1,369 | |
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Net investment income/(loss) | 1,819 | |
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Interest income on notes receivable from participants | 7 | |
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Benefit payments | (1,921) | |
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Net increase/(decrease) | 644 | |
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Net assets available for benefits: | |
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Beginning of year | 21,193 | |
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End of year | 21,837 | |
The accompanying notes are an integral part of these financial statements.
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
Note 1: Description of the Plan
General
Active participants in the ExxonMobil Savings Plan ("Plan") are eligible employees of Exxon Mobil Corporation ("ExxonMobil" or the “Company") and certain affiliated employers. The terms and conditions of the Plan are contained in the ExxonMobil Benefit Plans Common Provisions document, the ExxonMobil Savings Plan document, and the ExxonMobil Savings Trust document (collectively, the "Plan Document"). The Plan is an "employee pension benefit plan" described in Section 3(2) of the Employee Retirement Income Security Act of 1974 ("ERISA"), a "defined contribution plan" described in Section 3(34) of ERISA, and a non-leveraged Employee Stock Ownership Plan. The notes to the financial statements give a general description of the Plan. Participants should refer to the Plan Document for a more complete discussion of the Plan's provisions.
Contributions
The Plan permits participant contributions that range from 6 percent to 20 percent of each participant’s eligible pay. The Company matches only the minimum 6 percent contribution in an amount equal to 7 percent of a participant’s eligible pay.
Employees who are at least age 50 during the plan year and who maximize the combination of their regular pretax and Roth contributions may elect to make additional contributions.
Vesting
Participants are immediately vested in their contributions and all earnings. Company contributions vest at 100 percent upon the earliest of completion of 3 years of vesting service, reaching age 65 while employed, or death while an employee.
Forfeitures
During 2023, employer contributions totaling $1.8 million were forfeited by terminating employees and used to offset employer contributions.
Other Plan Provisions
Other Plan provisions including eligibility, enrollment, participation, forfeiture, loans, benefit payments (including withdrawals and distributions), and investment options are described in the Plan Document.
Plan Termination
The Company may terminate or amend the Plan at any time. In the event of termination, the net assets of the Plan will be distributed in accordance with ERISA.
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
Note 2: Summary of Significant Accounting Policies
Basis of Accounting
The financial statements of the Plan are presented on the accrual basis. Benefit payments are reported when paid.
Investment Valuation and Income Recognition
Investments are stated at fair value as described in Note 5.
Under the terms of its trust agreement, the Plan engaged in an authorized form of security lending activities during the year ended December 31, 2023. In accordance with the Savings Plan Securities Lending Agreement with The Northern Trust Company, the market value of the collateral held at the time of trade execution is required to be at least 102 percent of the market value of securities on loan or at least 105 percent if the collateral held and securities on loan are denominated in different currencies. The fair value of U.S. Government securities on loan was $30 million and $0 million, at December 31, 2023 and 2022, respectively. The securities on loan are reflected in the Statements of Net Assets Available for Benefits at December 31, 2023 and 2022 and the Schedule of Assets (Held At End Of Year). The value of cash collateral obtained and reinvested in short term investments is reflected as a liability on the Plan’s financial statements.
Purchases and sales of securities are recorded on a trade-date basis. "Dividends" only includes dividends on ExxonMobil stock, and any dividends related to the NT CCT equity funds are reflected as part of the "Net appreciation/(depreciation) in fair value of investments". "Interest" includes only interest from fixed income securities held in the Common Assets Portfolio and from short term cash investments. Interest related to the NT Bond Fund CCT is reflected as part of the "Net appreciation/(depreciation) in fair value of investments".
Net appreciation / depreciation in the current value of investments includes realized gains and losses on investments sold or disposed of during the year and unrealized gains and losses on investments held at year end.
Transfers-in at fair value include participant-initiated rollovers of certain distributions from other tax-qualified plans into the Plan.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets available for benefits, liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of changes in net assets available for benefits during the reporting period. Actual results could differ from those estimates.
Risks and Uncertainties
The Plan participants invest in various investment options offered by the Plan. Investments in these Plan-offered options are subject to various risks, such as interest rate, market value, and credit risks. Market risks include global events which could impact the value of investments securities, such as pandemics or international conflicts. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the Statements of Net Assets Available for Benefits.
Expenses
Investment income from all sources is stated net of brokerage fees on purchases and sales of ExxonMobil common stock, administrative expenses and investment management fees. Fees for delivery of checks that are expedited
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
upon request by participants and participant loan origination fees are charged to the participant’s account. All other administrative fees are paid by the Company. Administrative expenses are recorded when incurred.
Note 3: Related Party and Party in Interest Transactions
During 2023, certain Plan investments were units of various funds managed by The Northern Trust Company, and therefore, purchases and sales of these investments qualified as party in interest transactions. The Northern Trust Company also provided custodial services to the Plan and acted as securities lending agent during the Plan year.
The Plan holds Exxon Mobil Corporation common stock. Exxon Mobil Corporation is the employer of Plan participants and is the Plan sponsor, and any transactions in Exxon Mobil Corporation common stock qualify as party in interest transactions.
Notes receivable from participants (participant loans) also qualify as party in interest transactions.
Note 4: Tax Status
The Internal Revenue Service has determined and informed the Plan administrators by a letter dated August 7, 2017, that the Plan and related trust are designed in accordance with the applicable sections of the Internal Revenue Code (“IRC”). The Plan has been amended since receiving the determination letter. The Plan administrators and legal counsel believe the Plan is currently designed and is being operated in compliance with the applicable requirements of the IRC. The Plan is subject to audit by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.
Note 5: Fair Value Measurements
The authoritative guidance for fair value measurements provides a framework for measuring fair value. The framework establishes a three-level fair value hierarchy based on the nature of the information used to measure fair value. The terms “Level 1” and “Level 2” are accounting terms that refer to different methods of valuing assets. The terms do not represent the relative risk or credit quality of an investment. The fair value hierarchies for the Plan assets are not a measure of the ability of the Plan to meet Plan benefit obligations.
The following tables set forth by level, within the fair value hierarchy, the Plan's assets at fair value:
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
Note 5: Fair Value Measurements (continued)
| | | | | | | | | | | | | | | | | | | | |
| | | Fair Value Measurements at |
| | | December 31, 2023 Using* |
(millions of dollars) | | | | | | |
Description of investments | Value | | Quoted Prices In Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | |
| | | | | | |
ExxonMobil common stock | 7,330 | | | 7,330 | | (1) | | |
U.S. Government Securities | 2,704 | | | | | 2,704 | | (2) |
| | | | | | |
Corporate Debt Securities | 422 | | | | | 422 | | (2) |
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Total | 10,456 | | | 7,330 | | | 3,126 | | |
| | | | | | |
Common/Collective trusts (at net asset value)**: | | | | | | |
S&P 500 Fund | 5,652 | | (3) | | | | |
Small & Mid Cap Fund | 2,718 | | (3) | | | | |
World Ex-US Equity Fund | 1,720 | | (3) | | | | |
Aggregate Bond Fund | 1,076 | | (4) | | | | |
Short term investments | 166 | | (5) | | | | |
| | | | | | |
Total | 21,788 | | | | | | |
(1) For ExxonMobil common stock, fair value is based on observable quoted prices on an active exchange.
(2) For U.S. government securities and corporate debt securities, fair value is based on observable inputs of comparable market transactions.
(3) Investments in common and preferred stocks held in the form of units in common/collective trusts are redeemable daily at the unit value, including the measurement date. The fair value of the underlying securities owned by the common/collective trusts is based on observable quoted prices on an active exchange.
(4) Investments in debt securities and fixed income assets held in the form of units in common/collective trusts are redeemable daily at the unit value, including the measurement date.
(5) Short term investments held in the form of units in common/collective trusts are redeemable daily at the unit value, including the measurement date.
* There are no “Level 3” investments.
** Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts in the Statements of Net Assets.
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
Note 5: Fair Value Measurements (continued)
| | | | | | | | | | | | | | | | | | | | |
| | | Fair Value Measurements at |
| | | December 31, 2022 Using* |
(millions of dollars) | | | | | | |
Description of investments | Value | | Quoted Prices In Active Markets for Identical Assets (Level 1) | | Significant Other Observable Inputs (Level 2) | |
| | | | | | |
ExxonMobil common stock | 8,390 | | | 8,390 | | (1) | | |
U.S. Government Securities | 2,362 | | | | | 2,362 | | (2) |
Corporate Debt Securities | 914 | | | | | 914 | | (2) |
| | | | | | |
Total | 11,666 | | | 8,390 | | | 3,276 | | |
| | | | | | |
Common/Collective trusts (at net asset value)**: | | | | | | |
S&P 500 Fund | 4,608 | | (3) | | | | |
Small & Mid Cap Fund | 2,245 | | (3) | | | | |
World Ex-US Equity Fund | 1,500 | | (3) | | | | |
Aggregate Bond Fund | 960 | | (4) | | | | |
Short term investments | 134 | | (5) | | | | |
| | | | | | |
Total | 21,113 | | | | | | |
(1) For ExxonMobil common stock, fair value is based on observable quoted prices on an active exchange.
(2) For U.S. government securities and corporate debt securities, fair value is based on observable inputs of comparable market transactions.
(3) Investments in common and preferred stocks held in the form of units in common/collective trusts are redeemable daily at the unit value, including the measurement date. The fair value of the underlying securities owned by the common/collective trusts is based on observable quoted prices on an active exchange.
(4) Investments in debt securities and fixed income assets held in the form of units in common/collective trusts are redeemable daily at the unit value, including the measurement date.
(5) Short term investments held in the form of units in common/collective trusts are redeemable daily at the unit value, including the measurement date.
* There are no “Level 3” investments.
** Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts in the Statements of Net Assets.
SCHEDULE H
EXXONMOBIL SAVINGS PLAN
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2023
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(a) | | (b) | | (c) | | (d) | | (e) |
| | IDENTITY OF ISSUE | | DESCRIPTION OF INVESTMENT | | COST | | CURRENT |
* | | | | | | | | | | ** | | VALUE |
| | | | coupon | | maturity | | par/units | | | | |
| | | | | | | | (000's) | | | | ($000's) |
| | | | | | | | | | | | |
| | U.S. GOVERNMENT SECURITIES | | | | | | | | | | |
| | | | | | | | | | | | |
| | FEDERAL FARM CR BKS | | 5.500 | % | | 11/25/24 | | 25,000 | | | | | 25,136 | |
| | FEDERAL FARM CR BKS | | 5.790 | % | | 11/13/26 | | 5,000 | | | | | 5,001 | |
| | FEDERAL FARM CREDIT | | 5.000 | % | | 01/08/27 | | 12,826 | | | | | 12,822 | |
| | FEDERAL HOME LN BKS | | 5.585 | % | | 03/27/25 | | 20,000 | | | | | 19,960 | |
| | FEDERAL HOME LN BKS | | 5.000 | % | | 02/21/24 | | 15,000 | | | | | 14,991 | |
| | FEDERAL HOME LN BKS | | 5.600 | % | | 12/26/25 | | 9,645 | | | | | 9,634 | |
| | FEDERAL HOME LN BKS | | 5.700 | % | | 04/11/25 | | 10,000 | | | | | 9,989 | |
| | FEDERAL HOME LN MTG CORP | | 4.000 | % | | 12/30/24 | | 15,000 | | | | | 14,878 | |
| | FEDERAL HOME LN MTG CORP | | 5.750 | % | | 12/07/26 | | 10,000 | | | | | 10,021 | |
| | FEDERAL HOME LOAN MORTGAGE | | 6.000 | % | | 10/30/26 | | 2,000 | | | | | 2,000 | |
| | FREDDIE MAC | | 5.750 | % | | 08/14/26 | | 20,000 | | | | | 20,000 | |
| | U.S SAVINGS BOND SERIES I | | 5.410 | % | | 10/01/32 | | 207,228 | | | | | 207,228 | |
| | U.S SAVINGS BOND SERIES I | | 6.430 | % | | 10/01/31 | | 510,427 | | | | | 510,427 | |
| | U.S SAVINGS BOND SERIES I | | 3.380 | % | | 01/01/43 | | 29,628 | | | | | 29,628 | |
| | U.S SAVINGS BOND SERIES I | | 3.690 | % | | 01/01/40 | | 252,583 | | | | | 252,583 | |
| | U.S SAVINGS BOND SERIES EE | | 3.000 | % | | 03/01/38 | | 139,729 | | | | | 139,729 | |
| | U.S SAVINGS BOND SERIES I | | 4.600 | % | | 02/01/38 | | 316,453 | | | | | 316,453 | |
| | U.S SAVINGS BOND SERIES I | | 4.090 | % | | 02/01/39 | | 274,208 | | | | | 274,208 | |
| | U.S SAVINGS BOND SERIES I | | 5.010 | % | | 01/01/33 | | 369,018 | | | | | 369,018 | |
| | U.S SAVINGS BOND SERIES I | | 4.040 | % | | 05/01/44 | | 231,753 | | | | | 231,753 | |
| | U.S.TREASURY NOTES | | 4.250 | % | | 12/31/24 | | 2,032 | | | | | 2,032 | |
| | U.S.TREASURY NOTES | | 4.375 | % | | 10/31/24 | | 2,006 | | | | | 2,006 | |
| | U.S.TREASURY BOND | | 2.000 | % | | 02/15/25 | | 1,956 | | | | | 1,956 | |
| | U.S.TREASURY NOTES | | 2.125 | % | | 07/31/24 | | 1,984 | | | | | 1,984 | |
| | FEDERAL FARM CR BKS | | 5.540 | % | | 09/25/24 | | 25,000 | | | | | 24,987 | |
| | FEDERAL HOME LN BK | | 0.000% | | 09/18/24 | | 5,000 | | | | | 4,826 | |
| | FEDERAL HOME LN BK | | 0.000% | | 12/06/24 | | 5,000 | | | | | 4,780 | |
| | FEDERAL HOME LOAN BANKS | | 5.500 | % | | 08/22/24 | | 25,000 | | | | | 25,086 | |
| | USA TREAS BILLS | | 0.000% | | 03/12/24 | | 2,000 | | | | | 1,980 | |
| | USA TREAS BILLS | | 0.000% | | 01/18/24 | | 5,000 | | | | | 4,988 | |
| | USA TREAS BILLS | | 0.000% | | 02/22/24 | | 40,000 | | | | | 39,703 | |
| | USA TREAS BILLS | | 0.000% | | 03/21/24 | | 2,000 | | | | | 1,977 | |
| | USA TREAS BILLS | | 0.000% | | 03/05/24 | | 2,000 | | | | | 1,982 | |
SCHEDULE H
EXXONMOBIL SAVINGS PLAN
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2023
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) | | (b) | | (c) | | (d) | | (e) |
| | IDENTITY OF ISSUE | | DESCRIPTION OF INVESTMENT | | COST | | CURRENT |
* | | | | | | | | | | ** | | VALUE |
| | | | coupon | | maturity | | par/units | | | | |
| | | | | | | | (000's) | | | | ($000's) |
| | | | | | | | | | | | |
| | USA TREAS BILLS | | 0.000% | | 11/29/24 | | 4,000 | | | | | 3,832 | |
| | USA TREAS BILLS | | 0.000% | | 02/06/24 | | 2,000 | | | | | 1,990 | |
| | USA TREAS BILLS | | 0.000% | | 04/02/24 | | 5,000 | | | | | 4,934 | |
| | USA TREAS BILLS | | 0.000% | | 02/13/24 | | 4,000 | | | | | 3,975 | |
| | USA TREAS BILLS | | 0.000% | | 03/07/24 | | 20,000 | | | | | 19,812 | |
| | USA TREAS BILLS | | 0.000% | | 03/19/24 | | 2,000 | | | | | 1,978 | |
| | USA TREAS BONDS | | 0.000% | | 03/26/24 | | 2,000 | | | | | 1,976 | |
| | USA TREAS BONDS | | 0.000% | | 02/08/24 | | 5,500 | | | | | 5,470 | |
| | UNITED STS TREAS BILLS | | 0.000% | | 02/29/24 | | 35,000 | | | | | 34,703 | |
| | UNITED STS TREAS BILLS | | 0.000% | | 09/05/24 | | 20,000 | | | | | 19,350 | |
| | UNITED STS TREAS BILLS | | 0.000% | | 03/28/24 | | 2,000 | | | | | 1,975 | |
| | UNITED STS TREAS BILLS | | 0.000% | | 03/14/24 | | 10,000 | | | | | 9,896 | |
| | | | | | | | | | | | |
| | TOTAL U.S. GOVERNMENT SECURITIES | | | | | | 2,703,637 | |
| | | | | | | | | | | | |
| | CORPORATE DEBT SECURITIES | | | | | | | | | | |
| | | | | | | | | | | | |
| | HONEYWELL INTL INC | | 4.850 | % | | 11/01/24 | | 2,000 | | | | | 1,993 | |
| | INTL BUSINESS | | 3.450 | % | | 02/19/26 | | 2,500 | | | | | 2,436 | |
| | KENVUE INC SR | | 5.500 | % | | 03/22/25 | | 2,056 | | | | | 2,073 | |
| | NATL AUSTRALIA BK | | 5.132 | % | | 11/22/24 | | 2,000 | | | | | 2,002 | |
| | ONCOR ELEC DELIVERY CO | | 2.750 | % | | 06/01/24 | | 2,500 | | | | | 2,469 | |
| | PEPSICO INC FLTG | | 5.744 | % | | 11/12/24 | | 3,000 | | | | | 3,005 | |
| | PFIZER INVESTMENT ENTER | | 4.650 | % | | 05/19/25 | | 5,000 | | | | | 4,984 | |
| | PVTPL GEORGIA-PAC LLC | | 0.625 | % | | 05/15/24 | | 1,391 | | | | | 1,366 | |
| | PVTPL JACKSON NATL LIFE GLOBA | | 5.500 | % | | 01/09/26 | | 1,286 | | | | | 1,285 | |
| | ROYAL BK CDA GLOBAL | | 5.250 | % | | 02/22/26 | | 5,000 | | | | | 5,002 | |
| | STATOIL ASA | | 3.700 | % | | 03/01/24 | | 2,000 | | | | | 1,994 | |
| | WESTPAC BKG CORP | | 5.512 | % | | 11/17/25 | | 3,000 | | | | | 3,049 | |
| | ALBERTA PROV CDA DISC | | 0.000% | | 05/03/24 | | 10,000 | | | | | 9,816 | |
| | ANGLESEA FDG PLC / ANGLESEA | | 0.000% | | 01/02/24 | | 670 | | | | | 670 | |
| | ANGLESEA FDG PLC / ANGLESEA | | 0.000% | | 02/01/24 | | 5,000 | | | | | 4,975 | |
| | BANCO DEL ESTADO DE CHILE | | 0.000% | | 01/24/24 | | 6,565 | | | | | 6,540 | |
| | BANCO SANTANDER SA | | 0.000% | | 01/19/24 | | 13,800 | | | | | 13,757 | |
SCHEDULE H
EXXONMOBIL SAVINGS PLAN
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2023
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) | | (b) | | (c) | | (d) | | (e) |
| | IDENTITY OF ISSUE | | DESCRIPTION OF INVESTMENT | | COST | | CURRENT |
* | | | | | | | | | | ** | | VALUE |
| | | | coupon | | maturity | | par/units | | | | |
| | | | | | | | (000's) | | | | ($000's) |
| | | | | | | | | | | | |
| | BANK MONTREAL DISC | | 0.000% | | 01/22/24 | | 5,000 | | | | | 4,982 | |
| | BANK MONTREAL DISC | | 0.000% | | 01/04/24 | | 146 | | | | | 146 | |
| | BEDFORD ROW FDG CORP | | 0.000% | | 01/09/24 | | 600 | | | | | 599 | |
| | BEDFORD ROW FDG CORP | | 0.000% | | 01/22/24 | | 1,000 | | | | | 996 | |
| | BPCE DISC COML PAPER | | 0.000% | | 02/01/24 | | 3,230 | | | | | 3,214 | |
| | BPCE DISC COML PAPER | | 0.000% | | 04/15/24 | | 5,000 | | | | | 4,919 | |
| | BRITISH COLUMBIA | | 0.000% | | 01/12/24 | | 13,600 | | | | | 13,572 | |
| | BRITISH COLUMBIA | | 0.000% | | 01/23/24 | | 5,000 | | | | | 4,982 | |
| | CAISSE D AMORTISSEMENT | | 0.000% | | 01/26/24 | | 1,587 | | | | | 1,580 | |
| | DEERE JOHN CAP CORP | | 0.000% | | 03/13/24 | | 10,750 | | | | | 10,630 | |
| | DEERE JOHN FINL INC | | 0.000% | | 02/02/24 | | 5,000 | | | | | 4,974 | |
| | EMERSON ELEC CO-DISC | | 0.000% | | 01/26/24 | | 4,000 | | | | | 3,983 | |
| | ESSILORLUXOTTICA DISC | | 0.000% | | 03/19/24 | | 10,000 | | | | | 9,880 | |
| | FIRST ABU DHABI BK | | 0.000% | | 01/19/24 | | 10,000 | | | | | 9,969 | |
| | FIRST ABU DHABI BK | | 0.000% | | 03/11/24 | | 10,000 | | | | | 9,890 | |
| | FMS WERTMANAGEMENT | | 0.000% | | 02/08/24 | | 500 | | | | | 497 | |
| | GEORGIA TRANSMISSION | | 0.000% | | 02/06/24 | | 5,000 | | | | | 4,971 | |
| | GLENCOVE FDG DAC | | 0.000% | | 02/01/24 | | 10,000 | | | | | 9,949 | |
| | GREAT WEST LIFE & ANNUITY | | 0.000% | | 01/19/24 | | 10,000 | | | | | 9,969 | |
| | GTA FDG LLC DISC | | 0.000% | | 01/24/24 | | 794 | | | | | 791 | |
| | GTA FDG LLC DISC | | 0.000% | | 03/04/24 | | 671 | | | | | 664 | |
| | ING US FDG LLC | | 0.000% | | 04/01/24 | | 10,000 | | | | | 9,859 | |
| | JOHNS HOPKINS HEALTH SYS | | 0.000% | | 01/25/24 | | 6,000 | | | | | 5,976 | |
| | KEB HANA BK | | 0.000% | | 01/05/24 | | 10,000 | | | | | 9,990 | |
| | KENVUE INC | | 0.000% | | 01/18/24 | | 5,000 | | | | | 4,985 | |
| | LEXINGTON PARKER CAP | | 0.000% | | 02/05/24 | | 10,000 | | | | | 9,943 | |
| | LILLY ELI & CO | | 0.000% | | 01/23/24 | | 5,000 | | | | | 4,982 | |
| | LILLY ELI & CO | | 0.000% | | 02/15/24 | | 10,000 | | | | | 9,929 | |
| | LIME FDG LLC | | 0.000% | | 01/04/24 | | 5,000 | | | | | 4,996 | |
| | LVMH MOET HENNESSY | | 0.000% | | 02/05/24 | | 395 | | | | | 393 | |
| | LVMH MOET HENNESSY | | 0.000% | | 02/06/24 | | 1,750 | | | | | 1,740 | |
| | MACKINAC FDG CO | | 0.000% | | 03/06/24 | | 10,000 | | | | | 9,897 | |
| | MARS INC DISC | | 0.000% | | 02/14/24 | | 10,000 | | | | | 9,930 | |
SCHEDULE H
EXXONMOBIL SAVINGS PLAN
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2023
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) | | (b) | | (c) | | (d) | | (e) |
| | IDENTITY OF ISSUE | | DESCRIPTION OF INVESTMENT | | COST | | CURRENT |
* | | | | | | | | | | ** | | VALUE |
| | | | coupon | | maturity | | par/units | | | | |
| | | | | | | | (000's) | | | | ($000's) |
| | | | | | | | | | | | |
| | MAYBANK SINGAPORE LTD | | 0.000% | | 01/09/24 | | 10,000 | | | | | 9,807 | |
| | MERCEDES-BENZ FIN NORTH AMER | | 0.000% | | 03/27/24 | | 10,000 | | | | | 9,864 | |
| | MICROSOFT CORP | | 0.000% | | 01/03/24 | | 500 | | | | | 500 | |
| | MICROSOFT CORP | | 0.000% | | 01/12/24 | | 6,000 | | | | | 5,988 | |
| | MICROSOFT CORP | | 0.000% | | 01/31/24 | | 5,000 | | | | | 4,976 | |
| | MICROSOFT CORP | | 0.000% | | 02/27/24 | | 5,000 | | | | | 4,956 | |
| | MICROSOFT CORP | | 0.000% | | 03/08/24 | | 4,500 | | | | | 4,453 | |
| | MICROSOFT CORP | | 0.000% | | 05/07/24 | | 1,250 | | | | | 1,226 | |
| | NATIXIS N Y BRH | | 0.000% | | 02/15/24 | | 10,000 | | | | | 9,929 | |
| | NESTLE FIN INTL LTD | | 0.000% | | 04/30/24 | | 2,000 | | | | | 1,965 | |
| | NESTLE FIN INTL LTD | | 0.000% | | 01/10/24 | | 3,000 | | | | | 2,995 | |
| | PFIZER INC | | 0.000% | | 03/15/24 | | 13,750 | | | | | 13,592 | |
| | PODIUM FDG TR | | 0.000% | | 02/08/24 | | 4,000 | | | | | 3,976 | |
| | PVTPL BARCLAYS BK | | 0.000% | | 03/06/24 | | 10,000 | | | | | 9,897 | |
| | RIDGEFIELD FDG CO | | 0.000% | | 02/14/24 | | 410 | | | | | 407 | |
| | RIDGEFIELD FDG CO | | 0.000% | | 05/22/24 | | 2,750 | | | | | 2,691 | |
| | SALISBURY RECEIVABLES CO | | 0.000% | | 01/26/24 | | 499 | | | | | 497 | |
| | SOCIETE GENERALE ZCPN/CP | | 0.000% | | 01/31/24 | | 750 | | | | | 746 | |
| | SOUTHERN CALIF GAS CO | | 0.000% | | 01/10/24 | | 10,000 | | | | | 9,982 | |
| | STE TRANSCORE HLDGS INC | | 0.000% | | 01/18/24 | | 10,500 | | | | | 10,469 | |
| | SUMITOMO MITSUI TR BK LTD | | 0.000% | | 01/11/24 | | 10,000 | | | | | 9,981 | |
| | SUNCORP-METWAY LTD | | 0.000% | | 02/13/24 | | 5,390 | | | | | 5,351 | |
| | TORONTO DOMINION BK | | 0.000% | | 01/02/24 | | 4,000 | | | | | 3,998 | |
| | TORONTO DOMINION BK | | 0.000% | | 03/15/24 | | 5,000 | | | | | 4,942 | |
| | TOYOTA INDS | | 0.000% | | 01/17/24 | | 1,250 | | | | | 1,246 | |
| | TOYOTA MTR CR CORP | | 0.000% | | 02/12/24 | | 381 | | | | | 378 | |
| | UNITED PARCEL SERVICE INC | | 0.000% | | 01/30/24 | | 10,000 | | | | | 9,953 | |
| | VERSAILLES COML PAPER LLC | | 0.000% | | 01/04/24 | | 250 | | | | | 250 | |
| | VOLVO GROUP TREAS NORTH AME | | 0.000% | | 01/22/24 | | 5,000 | | | | | 4,981 | |
| | VOLVO GROUP TREAS NORTH AME | | 0.000% | | 02/21/24 | | 5,000 | | | | | 4,958 | |
| | WALMART INC | | 0.000% | | 01/09/24 | | 5,500 | | | | | 5,491 | |
| | | | | | | | | | | | |
| | TOTAL CORPORATE DEBT SECURITIES | | | | | | | | 421,638 | |
SCHEDULE H
EXXONMOBIL SAVINGS PLAN
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2023
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
(a) | | (b) | | (c) | | (d) | | (e) |
| | IDENTITY OF ISSUE | | DESCRIPTION OF INVESTMENT | | COST | | CURRENT |
* | | | | | | | | | | ** | | VALUE |
| | | | coupon | | maturity | | par/units | | | | |
| | | | | | | | (000's) | | | | ($000's) |
| | | | | | | | | | | | |
* | | PARTICIPANT LOANS | | 3.75% to 9.00% Maturity from 1 to 60 months | 126,048 | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | COMMON/COLLECTIVE TRUSTS | | | | | | | | | | |
| | | | | | | | | | | | |
* | | NT S&P 500 INDEX FUND | | | | | 311 | | | | | 5,651,978 | |
| | | | | | | | | | | | |
* | | NT EXTENDED EQUITY MARKET INDEX FUND | | | | 2,440 | | | | | 2,718,190 | |
| | | | | | | | | | | | |
* | | NT WORLD EX-US INVESTABLE MARKET INDEX FUND | | 7,741 | | | | | 1,720,223 | |
| | | | | | | | | | | | |
* | | NT AGGREGATE BOND INDEX FUND | | | | | | 1,893 | | | | | 1,076,299 | |
| | | | | | | | | | | | |
* | | NT GOVERNMENT STIF FUND | | | | | | 156,833 | | | | | 156,833 | |
| | | | | | | | | | | | |
* | | NT CORE SL STIF FUND | | | | | | 9,564 | | | | | 9,564 | |
| | | | | | | | | | | | |
| | TOTAL COMMON/COLLECTIVE TRUSTS | | | | | | | | 11,333,087 | |
| | | | | | | | | | | | |
| | COMMON STOCK | | | | | | | | | | |
| | | | | | | | | | | | |
* | | EXXON MOBIL CORPORATION | | | | | | 73,314 | | | | | 7,330,137 | |
| | | | | | | | | | | | |
| | BANK DEPOSITS | | | | | | | | | | 100 | |
| | | | | | | | | | | | |
| | TOTAL ASSETS HELD | | | | | | | | | | 21,914,647 | |
| | | | | | | | | | | | |
* Party in interest as defined by ERISA
** Cost information is not required for participant-directed investments and, therefore, is not included
Report of Independent Registered Public Accounting Firm
To the Administrator and Plan Participants of ExxonMobil Savings Plan
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of ExxonMobil
Savings Plan (the “Plan”) as of December 31, 2023 and 2022 and the related statement of changes in net assets available for benefits for the year ended December 31, 2023, including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2023 and 2022, and the changes in net assets available for benefits for the year ended December 31, 2023 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Supplemental Information
The supplemental Schedule H, Line 4i- Schedule of Assets (Held At End Of Year) as of December
31, 2023 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental schedule is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ PricewaterhouseCoopers LLP
Dallas, Texas
June 20, 2024
We have served as the Plan’s auditor since at least 1994. We have not been able to determine the specific year we began serving as auditor of the Plan.
SIGNATURE
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the Savings Plan) have duly caused this Annual Report to be signed by the undersigned hereunto duly authorized.
| | | | | |
| ExxonMobil Savings Plan |
| |
| |
| /s/ Joe Bob Allaire |
| |
| Joe Bob Allaire |
| Administrator-Accounting |
| |
Dated: June 20, 2024 | |
EXHIBIT INDEX
EXHIBIT
| | | | | |
23 | Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm Dated June 20, 2024 |