Exxon Results

A reasonable year:

               
   

Fourth
Quarter

 

Twelve
Months

    2007   2006   2007   2006
  Earnings / Earnings Per Share              
                 
  Total revenues and other income 116,642   90,028   404,552   377,635
  Total costs and other deductions 96,920   74,467   334,078   310,233
  Income before income taxes 19,722   15,561   70,474   67,402
  Income taxes 8,062   5,311   29,864   27,902
  Net income (U.S. GAAP) 11,660   10,250   40,610   39,500
                 
  Net income per common share (dollars) 2.15   1.77   7.36   6.68
                 
 

Net income per common share – assuming dilution (dollars)

2.13   1.76   7.28   6.62

$40 billion to shareholders, $29 billion to the tax man.

Oh, and if this is to be believed, another $71 billion in further taxes (oil royalties et al).

The public coffers get two and a half times what the shareholders do. My, how we are all ripped off by the oil companies.

4 thoughts on “Exxon Results”

  1. BlacquesJacquesShellacques

    Your last paragraph is wrong, wrong, wrong and entirely unfair and misleading.

    The $40 billion is also going to get taxed and the minions of the state will get their filth hands on some sizable chunk of that too.

    And where is Mark Braund with a comment or a post to castigate the vile and filthy shareholders for their greed?

  2. Tim, a relevant post in view of Shell’s announcement of “obscene ” profits this week. No doubt Polly Toynbee will claim that Exxon is in fact subsidised by the Federal Government because it pays $29bn in tax rather than $60bn.

    Another irony, many of the people complaining loudest about oil company profits have huge chunks of their own pension funds invested in those same companies.

    It is disappointing that many so-called right wing newspapers spout the same economically illiterate line about “£1.5m per hour” you see in the Guardian and Independent.

  3. To everyone who objects to oil-company profits, I suggest that they had an option of sharing in those profits by buying some of the company common stock in the past. That they chose not to take a risk is no reason to compensate them now, even indirectly and inefficiently via the gubmnt.

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