XOM · 10-Q · 2026Q1 · Full report

Operating Working Capital Increase

EXXON MOBIL CORP · 2026-05-04 · Importance 84 · Surprise 74 · In source text

Notes and accounts receivable (net) rose to $61.8 billion from $44.6 billion at year-end, a large increase in receivables during the quarter that materially affected working capital. Accounts payable and accrued liabilities also increased substantially (to $77.1 billion from $60.9 billion), reflecting higher commodity activity and trading flows. Changes in operational working capital (excluding cash and debt) reduced operating cash flow by $1.8 billion in the quarter. The quarter’s working capital swings reflect commodity price and trading volatility, increased physical commodity contract activity, and timing of settlements, and materially affect near-term cash generation.

Key facts

• Changes in operational working capital were a reduction of $1.8 billion during the period. source
• Notes and accounts receivable – net at March 31, 2026: $61,783 million. source
• Accounts payable and accrued liabilities at March 31, 2026: $77,088 million. source
• Changes in operational working capital, excluding cash and debt, for the three months ended March 31, 2026 was an outflow of $1,758 million (presented as change impacting operating cash flows). source

Impact estimates