Disclosures About Segments And Related Information

12 Months Ended

Dec. 31, 2018

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 recognized 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 $84 million in 2018, $136 million in 2017 and $63 million in 2016.

													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, 2018
Earnings after income tax (1)		1,739		12,340		2,962		3,048		1,642		1,709		(2,600)		20,840
Earnings of equity companies included above		608		5,816		156		(6)		48		1,113		(380)		7,355
Sales and other operating revenue		10,359		15,158		74,327		147,007		12,239		20,204		38		279,332
Intersegment revenue		8,683		29,659		21,954		29,888		9,044		7,217		205		-
Depreciation and depletion expense		6,024		9,257		684		890		405		606		879		18,745
Interest revenue		-		-		-		-		-		-		64		64
Interest expense		77		31		2		12		-		1		643		766
Income tax expense (benefit)		104		8,149		946		1,008		566		245		(1,486)		9,532
Additions to property, plant and equipment		7,119		7,974		1,152		1,595		1,146		348		717		20,051
Investments in equity companies		4,566		16,337		293		1,162		870		3,431		(277)		26,382
Total assets		90,310		148,914		17,898		34,024		14,904		21,131		19,015		346,196

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		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

(1) See Note 2 for additional details regarding the change in segmentation of Non-service pension and postretirement benefit expense.

Geographic

Sales and other operating revenue		2018	2017	2016
		(millions of dollars)

United States		96,930	82,079	70,126
Non-U.S.		182,402	155,083	130,502
	Total	279,332	237,162	200,628

Significant non-U.S. revenue sources include: (1)
	Canada	22,672	20,116	17,682
	United Kingdom	18,702	16,611	15,452
	Belgium	15,664	13,633	10,834
	Singapore	13,689	11,589	9,919
	France	13,637	11,235	9,487
	Italy	13,396	11,476	9,715
	Germany	9,426	8,484	7,899

(1) Revenue is determined by primary country of operations. Excludes certain sales and other operating revenues in Non-U.S. operations where attribution to a specific country is not practicable.

Long-lived assets		2018	2017	2016
		(millions of dollars)

United States		108,147	105,101	101,194
Non-U.S.		138,954	147,529	143,030
	Total	247,101	252,630	244,224

Significant non-U.S. long-lived assets include:
	Canada	37,433	41,138	40,144
	Australia	14,548	16,908	16,510
	Singapore	11,148	11,292	9,769
	Kazakhstan	9,726	10,121	10,325
	Nigeria	8,421	9,734	11,314
	Papua New Guinea	8,269	8,463	5,719
	Angola	7,021	7,689	8,413
	Russia	5,456	5,702	4,828