XOM · 10-Q · 2026Q3 · Full report

Commodity Derivatives Impacts

ExxonMobil Holdings Corp · 2026-11-02 · Importance 38 · Surprise 24 · In source text

Commodity contracts held for trading purposes were presented net in sales and other operating revenue and in operating cash flows. These contracts included $5.6 billion of before-tax realized and unrealized losses for the period ended September 30, 2026. The filing states that ExxonMobil’s commodity derivatives are not accounted for under hedge accounting. Currency and interest-rate derivatives were not material to financial position or results of operations at September 30, 2026.

Key facts

• ExxonMobil's commodity contracts held for trading purposes included before-tax realized and unrealized losses of $5.6 billion for the period ended September 30, 2026. source
• Upstream third-quarter estimated timing effects decreased earnings by $720 million, mainly from unfavorable derivatives mark-to-market impacts. source
• Energy Products year-to-date identified items included a $1,897 million loss due to impairments and Middle East supply disruptions preventing physical shipments associated with hedges. source
• Upstream year-to-date estimated timing effects decreased earnings by $1,580 million, mainly from unfavorable derivatives mark-to-market impacts. source
• Energy Products third-quarter estimated timing effects decreased earnings by $1,980 million due to unfavorable derivative mark-to-market impacts. source
• Energy Products year-to-date estimated timing effects decreased earnings by $2,750 million, primarily due to rising crude prices. source
• ExxonMobil identifies variable impacts of trading activities and derivative positions, including timing effects, on quarterly margins and results as a risk factor. source

Impact estimates