XOM · 10-Q · 2026Q1 · Full report
Outstanding Indebtedness
EXXON MOBIL CORP · 2026-05-04 · Importance 61 · Surprise 32 · In source text
Total debt at the end of the first quarter was $47.7 billion, up from $43.5 billion at year-end, an increase of $4.2 billion. Net debt (total debt less $8.4 billion of cash and cash equivalents) implied approximately $39.3 billion of net debt and produced a net debt to capital ratio of 13.1 percent at quarter end. The Corporation’s debt to total capital ratio was 15.4 percent at quarter end versus 14.0 percent at year-end, reflecting modest leverage increase. ExxonMobil cites access to long-term and short-term liquidity and expects internally generated funds to cover the majority of requirements supplemented by debt as needed.
Key facts
- The Corporation's debt to total capital ratio was 15.4 percent at the end of the first quarter compared to 14.0 percent at year-end. source
- The net debt to capital ratio was 13.1 percent at the end of the first quarter, an increase of 2.1 percentage points from year-end. source
- Net debt is defined as total debt of $47.7 billion less $8.4 billion of cash and cash equivalents excluding restricted cash. source
- Total debt at the end of the first quarter was $47.7 billion compared to $43.5 billion at year-end. source
- Net cash used in financing activities included reductions in short-term debt of $5,402 million in the prior period and reductions shown as (1) line item for current period with additions/(reductions) in commercial paper and debt with three months or less maturity of $9,075 million for the three months ended March 31, 2026. source
- Total equity used in the net debt to capital ratio calculation is $261.0 billion as reported. source
- Long-term debt at March 31, 2026 (balance sheet carrying amount): $33,130 million. source
- Total liabilities at March 31, 2026: $203,414 million. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | realized | -1.9% | Net cash used in financing activities included reductions in short-term debt of $5,402 million in the prior period and reductions shown as… |
| cash | positive | realized | +1.9% | Net cash used in financing activities included reductions in short-term debt of $5,402 million in the prior period and reductions shown as… |
| liability | negative | realized | -0.9% | Total debt at the end of the first quarter was $47.7 billion compared to $43.5 billion at year-end. |
| liability | negative | realized | — | The Corporation's debt to total capital ratio was 15.4 percent at the end of the first quarter compared to 14.0 percent at year-end. |
| liability | negative | realized | — | The net debt to capital ratio was 13.1 percent at the end of the first quarter, an increase of 2.1 percentage points from year-end. |
| liability | negative | realized | — | Net debt is defined as total debt of $47.7 billion less $8.4 billion of cash and cash equivalents excluding restricted cash. |