XOM_Snapshot2012-01

A snapshot of ExxonMobil in 2012

ExxonMobil’s year-end earnings were announced today, and our 2012 worldwide profit was $44.9 billion. Here are a few facts that you might want to consider when you hear some talking about increasing our taxes.

The first is that ExxonMobil’s direct contribution to the U.S. economy in 2012 was $68 billion.

That works out to $5.6 billion a month … $1.3 billion every week … or $186 million every single day in direct contributions to the American economy.

Let me break down that $68 billion for you:

    • Capital spending and operating expenses in the United States – on new wells and pipelines, refinery maintenance and upgrades and other costs – amounted to $30 billion.
    • We had tax expenses of $12 billion.
    • And of the more than $30 billion we returned to shareholders in the form of dividends and share buy-backs, $26 billion went to the United States, where more than 85 percent of our shareholders live.

Here’s the part that most people find hard to believe – but it’s true: This direct contribution to the United States economy in 2012 was seven times – yes, that’s right, seven times – higher than the $9.7 billion in U.S. earnings that we made last year.

And as I said, we had more than $12 billion in tax expenses in the United States – or a billion dollars each month.

Something else to consider is that our U.S. earnings of $9.7 billion – which represent 21 percent of our total earnings – came from domestic revenues of about $150 billion. That translates into 6.4 cents of U.S. earnings for every dollar of revenue (worldwide the figure is 9.3 percent).

A look at our contribution to the U.S. economy backs up studies prepared for the American Petroleum Institute that found that enabling private-sector investments in oil and gas is far more beneficial to the U.S. economy than raising industry taxes.

Given recent comments from the White House and from congressional leaders about targeting the oil and natural gas industry for new taxes, it’s important that Americans have all the facts about industry earnings. A firm understanding of those facts will be critical as the political discussion in the United States turns to addressing government spending and Washington’s desire for extra revenues.


7 Comments

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  1. robert vucsko says:

    If these figures are true, then why haven’t the folks in Prince William Sound been compensated by their losses, due to the oil spill from the Exxon Valdez?! Exxon is dragging this issue through the courts, for decades now, and their deep pockets, and lawyers.., Yuk!, will never yield any of that $$ to those who were harmed by Exxon negligence. It seems they would rather pay the lawyers and the courts. So, do we really believe that Exxon has our best-interest in-mind?

    • Bill Jones says:

      robert…Exxon has already paid them…over and over and over again for over 20 years. It’s done. Get over it. New tech is here. The drunk captain is gone. And you’re greedy.

  2. Joe Morrissey says:

    Another quarter with record profits for Exxon, another step toward human extinction. Thanks Rex.

    • Bill Jones says:

      Joe…when you have to be hospitalized one day, for any reason, you can then thank Exxon for producing the very oil based products that the medical industry uses lives every day…from tubing to masks to ventilators and petroleum based medicines to powering the backup systems down to the food tray you’re stuffing your face with.
      However, if you don’t like being in the modern worldn which is what oil based products did for humankind, including extending lifespans and the quality of life for the first time in history, you can go live in a tent in the woods and hunt for your food and sweat in the heat and slap bugs.

  3. Mary Bawa says:

    “The top three companies ranked by total corporate income tax paid were all oil companies. Their combined bill was $55.3 billion.

    “Topping the list was ExxonMobil (NYSE: XOM), which issued a check for $27.3 billion to the IRS. “

    http://beta.fool.com/mathman6577/2013/02/07/fat-cats-paying-their-fair-share/23578/

  4. Leah doyle says:

    If Exxon is doing so great why has the stock stayed under 91.00 per share since 2007? And why has its nearest competitors shares stayed near $114.00 per sh CVX/ Chevron texaco? As a stock holder I wonder why divedends and share prices are not rising accordingly?As a stockholder in both companies I know the 2 companies share prices were almost the same for many years.to me it seems CVX is doing much better , LDoyle Houston Texas

  5. GENE MARLOWE says:

    So if I am to believe Exxon you only make 2 cents a gal of gas. doing the math if you only sold gas you sold close to 3 TRILLION gal of gas.

    Thank GOD all the government official have college educations. I can’t Imagine how stupid they would be without it.

  6. robert vucsko says:

    If these figures are true, then why haven’t the folks in Prince William Sound been compensated by their losses, due to the oil spill from the Exxon Valdez?! Exxon is dragging this issue through the courts, for decades now, and their deep pockets, and lawyers.., Yuk!, will never yield any of that $$ to those who were harmed by Exxon negligence. It seems they would rather pay the lawyers and the courts. So, do we really believe that Exxon has our best-interest in-mind?

    • Bill Jones says:

      robert…Exxon has already paid them…over and over and over again for over 20 years. It’s done. Get over it. New tech is here. The drunk captain is gone. And you’re greedy.

  7. Joe Morrissey says:

    Another quarter with record profits for Exxon, another step toward human extinction. Thanks Rex.

    • Bill Jones says:

      Joe…when you have to be hospitalized one day, for any reason, you can then thank Exxon for producing the very oil based products that the medical industry uses lives every day…from tubing to masks to ventilators and petroleum based medicines to powering the backup systems down to the food tray you’re stuffing your face with.
      However, if you don’t like being in the modern worldn which is what oil based products did for humankind, including extending lifespans and the quality of life for the first time in history, you can go live in a tent in the woods and hunt for your food and sweat in the heat and slap bugs.

  8. Mary Bawa says:

    “The top three companies ranked by total corporate income tax paid were all oil companies. Their combined bill was $55.3 billion.

    “Topping the list was ExxonMobil (NYSE: XOM), which issued a check for $27.3 billion to the IRS. “

    http://beta.fool.com/mathman6577/2013/02/07/fat-cats-paying-their-fair-share/23578/