Long-Term Debt

12 Months Ended

Dec. 31, 2024

Long-Term Debt, Unclassified [Abstract]

At December 31, 2024, long-term debt consisted of $31,340 million due in U.S. dollars and $5,415 million representing the U.S. dollar equivalent at year-end exchange rates of amounts payable in foreign currencies. These amounts exclude that portion of long-term debt, totaling $4,892 million, which matures within one year and is included in current liabilities.

The amounts of long-term debt, excluding finance lease obligations, maturing in each of the four years after December 31, 2025, in millions of dollars, are: 2026 – $5,456; 2027 – $1,357; 2028 – $1,441; and 2029 – $1,604. At December 31, 2024, the Corporation's unused long-term lines of credit were $1.3 billion.

The Corporation may use non-derivative financial instruments, such as its foreign currency-denominated debt, as hedges of its net investments in certain foreign subsidiaries. Under this method, the change in the carrying value of the financial instruments due to foreign exchange fluctuations is reported in accumulated other comprehensive income. As of December 31, 2024, the Corporation has designated its $3.1 billion of Euro-denominated debt and related accrued interest as a net investment hedge of its European business. The net investment hedge is deemed to be perfectly effective.

Summarized long-term debt at year-end 2024 and 2023 are shown in the table below:


(millions of dollars, except where stated otherwise)	Average Rate (1)	December 31, 2024	December 31, 2023

Exxon Mobil Corporation (2)(3)
2.709% notes due 2025		—	1,750
2.992% notes due 2025		—	2,767
3.043% notes due 2026		2,500	2,500
2.275% notes due 2026		1,000	1,000
3.294% notes due 2027		1,000	1,000
2.440% notes due 2029		1,250	1,250
3.482% notes due 2030		1,992	2,000
2.610% notes due 2030		2,000	2,000
2.995% notes due 2039		750	750
4.227% notes due 2040		2,076	2,080
3.567% notes due 2045		1,000	1,000
4.114% notes due 2046		2,500	2,500
3.095% notes due 2049		1,500	1,500
4.327% notes due 2050		2,750	2,750
3.452% notes due 2051		2,750	2,750
Exxon Mobil Corporation - Euro-denominated
0.524% notes due 2028		1,039	1,105
0.835% notes due 2032		1,039	1,105
1.408% notes due 2039		1,039	1,105
XTO Energy Inc. (4)
6.100% senior notes due 2036		187	189
6.750% senior notes due 2037		284	286
6.375% senior notes due 2038		221	223
Pioneer Natural Resources Company (5)
1.125% senior notes due 2026		718	—
5.100% senior notes due 2026		1,097	—
7.200% senior notes due 2028		250	—
1.900% senior notes due 2030		931	—
2.150% senior notes due 2031		846	—
Parsley Energy LLC (6)
4.125% senior notes due 2028		131	—

Industrial revenue bonds due 2025-2051	3.149%	2,032	2,123
Finance leases & other obligations	4.577%	3,951	3,838
Debt issuance costs		(78)	(88)
Total long-term debt		36,755	37,483

(1) Average effective or imputed interest rates at December 31, 2024.
(2) Includes impacts of hedge accounting of interest rate swaps.
(3) Includes premiums of $76 million in 2024 and $97 million in 2023.
(4) Includes premiums of $66 million in 2024 and $71 million in 2023.
(5) Includes net discounts of $348 million in 2024.
(6) Includes discounts of $7 million in 2024.