XOM · 10-Q · 2026Q2 · Full report
Operating Expense Trends
ExxonMobil Holdings Corp · 2026-08-03 · Importance 34 · Surprise 30 · No source text
Corporate and Financing expenses increased to $954 million in the second quarter from $759 million, a $195 million increase caused by lower interest income and unfavorable tax impacts. Six-month Corporate and Financing expenses rose to $2.007 billion from $1.557 billion, up $450 million because of lower interest income and the absence of favorable tax items. Upstream expenses reduced second-quarter earnings by $690 million and year-to-date earnings by $1.51 billion, mainly because of higher depreciation.
Key facts
- Total Adjusted Operating Costs (Non-GAAP) for twelve months ended December 31 were $78.8 billion and for six months ended June 30 were $42.8 billion (comparative prior period $91.6 billion and $48.2 billion). source
- Depreciation and depletion noncash provision was $15.5 billion, up $3.7 billion from the prior year period. source
- Total Cash Operating Expenses (Cash Opex) (Non-GAAP) for the twelve months ended December 31 were $55.0 billion and for six months ended June 30 were $28.4 billion (comparative prior period $59.0 billion and $28.5 billion). source
- Production and manufacturing expenses for three months ended June 30, 2026: $12,250 million; for three months ended June 30, 2025: $10,102 million. source
- Total Cash Operating Expenses (Cash Opex) excluding Energy and Production Taxes for the twelve months ended December 31 were $44.0 billion and for the six months ended June 30 were $20.8 billion (comparable prior period $44.1 billion and $21.9 billion). source
- Depreciation and depletion (includes impairments) for three months ended June 30, 2026: $8,689 million; for three months ended June 30, 2025: $6,101 million. source
- Other taxes and duties for three months ended June 30, 2026: $4,956 million; for three months ended June 30, 2025: $6,257 million. source
- Corporate and Financing expenses were $2,007 million for the first six months, $450 million higher than the prior year, due to lower interest income and the absence of favorable tax items. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +4.7% | Total Adjusted Operating Costs (Non-GAAP) for twelve months ended December 31 were $78.8 billion and for six months ended June 30 were… |
| operating_income | negative | realized | -3.2% | Depreciation and depletion noncash provision was $15.5 billion, up $3.7 billion from the prior year period. |
| operating_income | negative | realized | -2.2% | Depreciation and depletion (includes impairments) for three months ended June 30, 2026: $8,689 million; for three months ended June 30,… |
| operating_income | negative | realized | -1.9% | Production and manufacturing expenses for three months ended June 30, 2026: $12,250 million; for three months ended June 30, 2025: $10,102… |
| operating_income | positive | realized | +1.1% | Other taxes and duties for three months ended June 30, 2026: $4,956 million; for three months ended June 30, 2025: $6,257 million. |
| operating_income | positive | realized | +0.9% | Total Cash Operating Expenses (Cash Opex) excluding Energy and Production Taxes for the twelve months ended December 31 were $44.0 billion… |
| operating_income | negative | realized | -0.4% | Corporate and Financing expenses were $2,007 million for the first six months, $450 million higher than the prior year, due to lower… |
| operating_income | positive | realized | +0.1% | Total Cash Operating Expenses (Cash Opex) (Non-GAAP) for the twelve months ended December 31 were $55.0 billion and for six months ended… |
| operating_income | negative | realized | — | Depreciation and depletion (includes impairments) for six months ended June 30, 2026: $15,460 million. |
| operating_income | negative | realized | — | Total other taxes and duties for the three months ended June 30 were $6,112 million and for the six months ended June 30 were $12,887… |