XOM · 10-Q · 2026Q3 · Full report

Income Tax Rate Changes

ExxonMobil Holdings Corp · 2026-11-02 · Importance 59 · Surprise 48

Nine-month income tax expense increased 21.5% to $12.252 billion from $10.082 billion, while income before income taxes rose 43.3% to $47.627 billion from $33.237 billion. The effective tax rate for the nine months was approximately 25.7%, down from 30.3% in 2025. Third-quarter income tax expense was $5.214 billion on pretax income of $21.236 billion, compared with $3.164 billion on pretax income of $10.932 billion in the prior-year quarter. The third-quarter effective tax rate was approximately 24.5%, versus 28.9% a year earlier.

Key facts

• Third-quarter effective income tax rate was 26%, 6 percentage points lower than the prior-year period, primarily due to a change in the mix of results among jurisdictions with varying tax rates. source
• First-nine-month effective income tax rate was 27%, down 7 percentage points from the prior-year period, primarily due to portfolio mix effects. source