UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
[x] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2003
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to ___________
Commission file number 1-2256
A. Full title of the plan:
EXXONMOBIL SAVINGS PLAN
B. Name of issuer of the securities held pursuant to the plan
and the address of its principal executive office:
EXXON MOBIL CORPORATION
5959 Las Colinas Boulevard
Irving, Texas 75039-2298
EXXONMOBIL SAVINGS PLAN
INDEX
Page
-----
Financial Statements
Statement of Net Assets Available for Benefits at
December 31, 2003 and 2002 3-4
Statement of Changes in Net Assets
Available for Benefits, for the
Year ended December 31, 2003 5
Notes to Financial Statements 6-13
Supplemental Schedules
Schedule G, Part III--Schedule of Nonexempt Transactions 14
Schedule H, Line 4i-Schedule of Assets (Held at End
of Year) at December 31, 2003 15-20
Report of Independent Registered Public Accounting Firm 21
Signature 22
Exhibit Index 23
Exhibit 23 - Consent of Independent Registered Public
Accounting Firm 24
-2-
EXXONMOBIL SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 2003
(millions of dollars)
Participant Non-Participant
Directed Directed Total
----------- --------------- -------
Assets
Investments, at fair value:
(See Note 8)
Exxon Mobil Corp common stock $ 9,306 $ - $ 9,306
Other investments 5,491 - 5,491
------- ------ -------
Total investments 14,797 - 14,797
Cash 1 - 1
Accrued interest 11 - 11
Other receivables 39 - 39
------- ------ -------
Total assets 14,848 - 14,848
------- ------ -------
Liabilities
Payables and accrued liabilities 29 - 29
------- ------ -------
Total liabilities 29 - 29
------- ------ -------
Net assets available
for benefits $14,819 $ - $14,819
======= ====== =======
The accompanying notes are an integral part of these financial statements.
-3-
EXXONMOBIL SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 2002
(millions of dollars)
Participant Non-Participant
Directed Directed Total
----------- --------------- -------
Assets
Investments, at fair value:
(See Note 8)
Exxon Mobil Corp common stock $ 7,465 $ 768 $ 8,233
Other investments 4,934 - 4,934
------- ------ -------
Total investments 12,399 768 13,167
Cash 2 8 10
Amounts due from employers - 125 125
Accrued interest 14 - 14
Other receivables 5 - 5
------- ------ -------
Total assets 12,420 901 13,321
------- ------ -------
Liabilities
Payables and accrued liabilities 6 1 7
Commercial paper payable - 82 82
Notes payable (see Note 6) - 65 65
------- ------ -------
Total liabilities 6 148 154
------- ------ -------
Net assets available
for benefits $12,414 $ 753 $13,167
======= ====== =======
The accompanying notes are an integral part of these financial statements.
-4-
EXXONMOBIL SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 2003
(millions of dollars)
Participant Non-Participant
Directed Directed Total
----------- --------------- -------
Contributions:
Employer $ 172 $ 16 $ 188
Employee 316 - 316
Transfers in 3 - 3
------- ------ -------
Total contributions 491 16 507
------- ------ -------
Investment income:
Interest 97 - 97
Dividends 224 5 229
Net appreciation in fair value
of investments (see Note 8) 1,996 2 1,998
------- ------ -------
Total investment income 2,317 7 2,324
------- ------ -------
Deductions:
Interest and miscellaneous expense (3) (2) (5)
Benefit payments (948) (43) (991)
Participant withdrawals (176) (7) (183)
Net ESOP transfers
(see Notes 2 and 6) 724 (724) -
------- ------- -------
Total deductions (403) (776) (1,179)
------- ------- -------
Net increase/(decrease) 2,405 (753) 1,652
Net assets available for benefits:
At the beginning of the year 12,414 753 13,167
------- ------ -------
At the end of the year $14,819 $ - $14,819
======= ====== =======
The accompanying notes are an integral part of these financial statements.
-5-
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
Note 1: Description of the Plan
General
-------
The participants in the ExxonMobil Savings Plan ("Savings Plan"), formerly
known as the Thrift Plan in the Benefit Plan of Exxon Corporation and
Participating Affiliates ("Thrift Plan"), are eligible employees and
former employees of Exxon Mobil Corporation ("ExxonMobil" or "Company") and
certain affiliated employers. The terms and conditions of the Savings Plan
are contained in the ExxonMobil Common Provisions document, the ExxonMobil
Savings Plan document, and the ExxonMobil Savings Trust document (collec-
tively, the "Plan Document"). The Savings Plan is an "employee pension
benefit plan" described in Section 3(2) of the Employee Retirement Income
Security Act of 1974 ("ERISA") and also a "defined contribution plan"
described in Section 3(34) of ERISA. In addition, effective February 8,
2002, the entire Savings Plan has been designated an Employee Stock
Ownership Plan ("ESOP"), a plan designed to invest primarily in employer
securities.
As a result of the December 30, 1999 merger of the Thrift Plan and the
Employee Savings Plan of Mobil Oil Corporation, ("the Merger"), on May 1,
2003, the ExxonMobil Savings Plan recordkeeping balances and the Merrill
Lynch recordkeeping for the heritage Mobil balances were harmonized into
one ExxonMobil Savings Plan recordkeeping system at CitiStreet LLC ("the
harmonization"). With the harmonization, two new investment options, an
international equity unit fund and a bond fund, were added to the existing
ExxonMobil Savings Plan investment options. In addition, all Merrill
Lynch-held investments with the exception of ExxonMobil common stock were
converted to other existing and new ExxonMobil Savings Plan investment
options.
Contributions
-------------
The Savings Plan permits participant contributions of up to 20% of compen-
sation and a 100% Company match on the first 6% of compensation. Up to an
additional 1% Company match may be received if the participant elects for
the Company match to be directed to the Stock Match Account ("SMA"). The
restriction on the SMA stipulates that 75% of the assets in the SMA must be
invested in ExxonMobil stock. Employees who are at least age 50 during the
plan year who maximize their before-tax contributions may elect to make
additional pretax ("catch-up") contributions. More details of Company
match, SMA, and catch-up contributions may be found in the Plan Document.
-6-
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
Vesting
-------
Participants are immediately vested in their contributions and earnings.
Company contributions vest at 100% upon the earliest of completion of 3
years of vesting service, reaching age 65 while employed, or upon death of
the participating employee.
Forfeitures
-----------
During 2003, $1 million of employers' matching contributions were forfeited
by terminating employees before those amounts became vested. Such for-
feited amounts are used to reduce employer contributions.
Other Plan Provisions
---------------------
Other Savings Plan provisions including eligibility, enrollment, partici-
pation, forfeiture, loans, withdrawals, distributions, and investment
options, are described in the Plan Document.
Plan Termination
----------------
The Company may terminate or amend the Savings Plan at any time. In the
event of termination, the net assets of the Savings Plan will be distribu-
ted in accordance with the Employee Retirement Income Security Act of 1974.
Note 2: Accounting Policies
Basis of Accounting
-------------------
The financial statements of the Savings Plan are presented on the accrual
basis of accounting except benefit payments which are reported on a cash
basis to conform with generally accepted accounting principles (Note 7).
-7-
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
Investment Valuation and Income Recognition
-------------------------------------------
Investments are stated at fair value. Fair values are based on quoted
prices as of the date of the financial statements, or, if market quota-
tions are not readily available, upon estimated values obtained from a
major investment securities firm. The Common Asset Fund includes certain
guaranteed investment contracts ("GICs") which are stated at contract value,
which approximates fair value, representing the original cost, plus interest
(based upon the crediting rates of the underlying contracts) reduced by
administration fees, transfers out, and withdrawals. There are no reserves
against contract value for credit risk of the contract issuer or otherwise.
The average crediting interest rates of these GICs for the years ended
December 31, 2003 and 2002 were 4.5% and 4.9%, respectively. The annualized
crediting interest rates at December 31, 2003 and 2002 were 4.5% and 4.2%,
respectively. Crediting rates fluctuate with the activities of the under-
lying contracts. There is no minimum crediting interest rate.
Under the terms of its trust agreement, the Savings Plan engaged in author-
ized security lending activities during the years ended December 31, 2003
and 2002. The market value of securities on loan and the collateral held
at The Northern Trust Company at December 31, 2003 was $241 million and $247
million, respectively. The market value of securities on loan and the
collateral held at The Northern Trust Company at December 31, 2002 was $240
million and $245 million, respectively. In accordance with the Securities
Lending Agreement, the market value of the collateral held is required to be
100% of the market value of government securities lent and 102% for all
other securities lent. Collateral held consists of cash, letters of credit,
and government securities. At December 31, 2003 and 2002, the market value
of all collateral held was at least 102%. The securities on loan are
reflected in the Statement of Net Assets Available for Benefits and the
Schedule of Assets (Held at End of Year) at December 31, 2003 and 2002.
Purchases and sales of securities are recorded on a trade-date basis.
Dividends are recorded on the ex-dividend date.
The Savings Plan's financial statements separately disclose non-participant
directed investments which include both unallocated ExxonMobil common stock
of the ESOP and a portion of the allocated shares. At December 31, 2003
and 2002, $0 million and $35 million respectively, of ExxonMobil common
stock remained unallocated. As a result of the harmonization, the require-
ment that employer contributions in the heritage Mobil plan be allocated to
the ESOP account was removed. Consequently, these allocated ESOP shares
have been reclassified from non-participant directed investments to parti-
cipant directed investments.
-8-
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
Net appreciation and depreciation in the current value of investments
includes realized gains and losses on investments sold or disposed of
during the year and unrealized gains and losses on investments held at
year end.
Participant loans represent the outstanding principal balances of the
loans and are valued at cost, which approximates current value.
The Savings Plan is subject to normal risks associated with international
and domestic debt and equity markets, including the investment in
ExxonMobil common stock.
Transfers in include participant-initiated rollovers of certain
distributions from other tax-qualified plans into the Savings Plan.
Use of Estimates
----------------
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets available for
benefits and liabilities and disclosure of contingent liabilities at the
date of the financial statements and the reported amounts of changes in
net assets available for benefits during the reporting period. Actual
results could differ from those estimates.
Note 3: Related-Party Transactions
During 2003 and 2002, commercial paper was issued by the Savings Plan and
purchased by ExxonMobil. As a result of these transactions, at December
31, 2003 and 2002, $0 million and $82 million, respectively, were owed
to ExxonMobil.
During 2003, certain Savings Plan investments were shares of various funds
managed by Merrill Lynch Trust Company, FSB, Barclays Global Investors,
N.A., and The Northern Trust Company. These parties also provided custodial
and other fiduciary services to the Savings Plan during the plan year and,
therefore, purchases and sales of these investments qualified as party-in-
interest transactions.
-9-
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
Note 4: Tax Status
The Internal Revenue Service has determined and informed the Savings Plan
administrators by a letter dated November 14, 2002, that the Savings Plan
is qualified and the trusts established under the Savings Plan are tax-
exempt, under the appropriate sections of the Internal Revenue Code ("Code").
The Savings Plan has been amended since receiving the determination letter.
However, counsel for Exxon Mobil Corporation believes that the Savings Plan
is currently designed and is being operated in compliance with the appli-
cable requirements of the Code and therefore, was qualified and the related
trust was tax-exempt as of the financial statement date.
Note 5: Expenses
Investment income from all sources is stated net of administrative expenses,
which include brokerage fees on purchases and sales of ExxonMobil common
stock, management fees, and brokerage commissions. Plan administration
expenses, to the extent not paid by the Company, are charged to and paid
from the Plan's assets. Administrative expenses are recorded when incurred.
Note 6: ExxonMobil ESOP Trust
Upon the Merger, future contributions to the ESOP were eligible for funding
from the ESOP trust established in November 1989 by Mobil Oil Corporation
("Mobil"). In 1989, the ESOP trust, supported by a Mobil guarantee, pri-
vately placed $800 million of floating interest rate notes due November
22, 2004, and used the proceeds to purchase 205,788 shares of Mobil Series
B Convertible Preferred Stock at a price equal to liquidation value, or
$3,887.50 per share. Following the Merger, each outstanding share of Mobil
Series B Convertible Preferred Stock was converted into one share of
ExxonMobil Class B Preferred Stock, with similar terms. In December 1999,
each unit of ExxonMobil's Class B Preferred Stock was converted into
132.015 shares of ExxonMobil common stock, and the accrued dividends on
units of ExxonMobil Preferred Stock were converted into shares of ExxonMobil
common stock.
-10-
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
At December 31, 2003 and 2002, $0 million and $65 million, respectively,
of medium-term notes were outstanding under a $300 million shelf registra-
tion statement filed by the ESOP trust with the Securities and Exchange
Commission pursuant to Rule 415. These medium-term notes were guaranteed
by ExxonMobil and were secured by the unallocated ESOP shares. As shares
in the ESOP were allocated to participants, a corresponding number of shares
were released from securing the notes. The proceeds of the sales of the
issued notes were used to retire identical principal amounts of existing
ESOP trust debt.
At December 31, 2002, there were $65 million in outstanding medium-term notes
with 2003 maturity dates with interest rates ranging from 5.8% to 5.9%. By
September 2003, all notes were paid off and there were no outstanding amounts
due at December 31, 2003.
Principal and interest payments on the medium-term notes were due semi-
annually.
On February 4, 1999, the ESOP trust established a commercial paper program
under which the ESOP trust could sell to institutional investors including
ExxonMobil or its affiliates, up to $500 million of short-term notes. The
proceeds of the sales of such notes were used for the same purposes as the
proceeds of the debt securities issued by the ESOP trust under the above
mentioned shelf registration. At December 31, 2002, the ESOP trust had $82
million of ExxonMobil guaranteed 1.29% short-term notes outstanding, due
February 28, 2003. During 2003, all short-term notes were paid off and
there were no outstanding amounts due at December 31, 2003.
In addition to the proceeds from the financing programs mentioned above,
corporate contributions to the Savings Plan and dividends were used to make
principal and interest payments on the notes.
The Savings Plan held 227 million shares and 236 million shares of
ExxonMobil common stock at year end 2003 and 2002, respectively. Of these
total shares, 98.0 million shares were held in the ESOP trust (a part of
the ExxonMobil Savings Trust) at December 31, 2002. Of the total ESOP
trust shares, 1.0 million shares remained unallocated at December 31, 2002.
As the contributions and dividends were credited, common shares were re-
leased from securing the debt and were subsequently allocated to participant
accounts. During the year, 1.0 million ESOP trust shares were allocated
to participants.
-11-
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
Note 7: Claims Incurred But Not Paid
The Savings Plan reports benefits paid on a cash basis as required under
accounting principles generally accepted in the United States of America.
For Form 5500 reporting purposes, claims incurred but not paid of $0 million
and $9 million for the years ended December 31, 2003 and 2002, respectively,
are reported on an accrual basis. As such, the net assets available for
benefits reflected for Form 5500 purposes are $14,819 million and $13,158
million at December 31, 2003 and 2002, respectively.
Note 8: Investments
The following presents investments that represent 5% or more of the
Savings Plan's net assets available for benefits.
(millions of dollars)
December 31, December 31,
2003 2002
----------- -----------
ExxonMobil
common stock $9,306 $7,465
Barclays Global Investors
Equity Portfolio Fund 1,787 731
ExxonMobil
common stock
(non-participant
directed) - 768
-12-
EXXONMOBIL SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
During 2003, the Savings Plan's investments (including gains and losses
on investments bought and sold, as well as held during the year)
appreciated in value by $1,998 million as follows:
(millions $)
ExxonMobil common stock $1,387
Common collective trusts 589
Common stock 31
Mutual funds 7
Corporate debentures (9)
U.S. Government securities (4)
Other (3)
------
$1,998
======
Note 9: Nonexempt Transactions
With respect to participants who are Puerto Rico residents, contributions
for the months of April, May, and June 2003 ($300,216) were not remitted
to the ExxonMobil Savings Plan Trustee until August 2003. Esso Standard
Oil Company (Puerto Rico) also remitted earnings on the late contributions
($1,202) to the Trust in April 2004.
Note 10: Subsequent Event
On May 1, 2004, the five investment funds managed and held at Barclays
Global Investors, N.A., were moved to The Northern Trust Company, who
will continue in the role of investment manager and custodian for these
funds.
-13-
SCHEDULE G
EXXONMOBIL SAVINGS PLAN
SCHEDULE G, PART III
SCHEDULE OF NONEXEMPT TRANSACTIONS
FOR THE TWELVE-MONTH PERIOD ENDED 12/31/03
(a) Identity of party involved
------------------------------
Esso Standard Oil Company (Puerto Rico)
(b) Relationship to plan, employer, or other party-in-interest
--------------------------------------------------------------
Employer whose employees are covered by the Plan
(c) Description of transactions including maturity date, rate of interest,
collateral, par or maturity value
--------------------------------------------------------------------------
untimely remittance of contributions
(h) Cost of asset (i) Current value (j) Net gain (loss) on
of asset each transaction
----------------- ------------------ -----------------------
$300,216 $301,418 $1,202
-14-
SCHEDULE H
EXXONMOBIL SAVINGS PLAN
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
12/31/03
(thousands of dollars)
MATURITY PAR CURRENT
DESCRIPTION COUPON DATE VALUE VALUE
-------------------------------------------------------------------------
COMMON ASSET FUND
-----------------
CORPORATE DEBT INSTRUMENTS
ABBOTT LABS 5.125% 07/01/04 $ 25,000 $ 25,466
ADVANTA CR CD MSTR TR II 96-B 1.400% 01/15/07 25,000 25,022
AMERN EXPRESS CR A/C MASTER TR 1.690% 01/15/09 28,000 27,469
BK 1 AUTO SECUR TR 2003-1 1.290% 08/20/06 10,000 9,991
BK 1 AUTO SECUR TR 2003-1 1.820% 09/20/07 30,000 29,814
BK 1 ISSUANCE TR ABS BOIT 2.940% 06/16/08 20,000 20,296
BK 1 ISSUANCE TR SER 2002-A2 4.160% 01/15/08 10,000 10,330
BMW VEH OWNER TR 2002-A 3.800% 05/25/06 13,403 13,539
BMW VEH OWNER TR 2003-A 1.940% 02/25/07 39,575 39,672
CHASE FDG MTG LN SER 2002-4 2.810% 10/25/17 9,000 9,045
CHASE MANH AUTO OWNER TR 2002-A 3.490% 03/15/06 14,919 15,045
CHASE MANH AUTO OWNER TR 2002-B 3.580% 05/15/06 18,617 18,805
CHASE MANH AUTO OWNER TR 2003-A 1.520% 05/15/07 40,000 39,815
CHASE MANH AUTO OWNER TR 2003-B 1.820% 07/15/07 3,500 3,492
CHASE MANH AUTO OWNR TR 2003-C 2.260% 11/15/07 8,000 8,008
CITIBANK CR CD ISSUANCE TR 4.100% 12/07/06 27,000 27,657
CITIBANK CR CD ISSUANCE TR 2000 6.900% 10/15/07 25,000 27,087
CITIBANK CR CD ISSUANCE TR 2002 4.400% 05/15/07 8,000 8,285
CITIBANK CR CD ISSUANCE TR 2003 2.700% 01/15/08 40,000 40,377
COMM MTG ACCEP CORP 1997-ML1 6.500% 12/15/30 8,240 8,466
DAIMLERCHRYSLER AUTO TR 2000-1 7.230% 01/06/05 3,882 3,885
DAIMLERCHRYSLER AUTO TR 2001-D 3.150% 11/06/05 8,363 8,412
FIRST USA CRED CARD 98-9A 5.280% 09/18/06 9,068 9,068
FLEET CR CD MSTR TR II 2001-C 3.860% 03/15/07 20,600 20,947
FLEETWOOD CR 1994-B GRANTOR TR 6.750% 03/15/10 264 263
FORD CR AUTO OWNER TR 2001-B 5.360% 06/15/05 6,257 6,328
FORD CR AUTO OWNER TR 2001-C 4.830% 02/15/05 1,890 1,898
FORD CR AUTO OWNER TR 2001-E 4.010% 03/15/06 12,000 12,222
GEN ELEC CAP CORP MED TERM NTS 7.250% 05/03/04 8,400 8,564
GEN ELEC CAP CORP MTN BEO 5.375% 04/23/04 3,000 3,037
HARLEY-DAVIDSON MTR TR 2003-1 1.560% 05/15/07 5,475 5,483
HARLEY-DAVIDSON MTR TR 2003-1 2.630% 11/15/10 5,000 5,028
HARLEY-DAVIDSON MTR TR 2003-2 1.340% 01/15/08 3,509 3,509
HARLEY-DAVIDSON MTR TR 2003-3 1.500% 01/15/08 8,193 8,202
HARLEY-DAVIDSON MTR TR 2003-3CL 2.760% 05/15/11 6,200 6,219
-15-
SCHEDULE H
EXXONMOBIL SAVINGS PLAN
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
12/31/03
(thousands of dollars)
MATURITY PAR CURRENT
DESCRIPTION COUPON DATE VALUE VALUE
-------------------------------------------------------------------------
HARLEY-DAVIDSON MTR TR HDMOT 2.070% 02/15/11 $ 16,000 $ 15,863
HONDA AUTO RECEIVABLES 2001-3 3.960% 02/19/07 20,000 20,314
HONDA AUTO RECEIVABLES 2002-1 3.500% 10/17/05 3,563 3,592
HONDA AUTO RECEIVABLES 2002-2 3.830% 02/15/06 15,981 16,163
HONDA AUTO RECEIVABLES 2002-3 3.000% 05/18/06 1,000 1,010
HONDA AUTO RECEIVABLES 2002-4 2.190% 09/15/06 25,000 25,164
HONDA AUTO RECEIVABLES 2003-1 1.920% 11/20/06 27,000 27,082
HONDA AUTO RECEIVABLES 2003-4 1.580% 07/17/06 2,000 2,002
HSEHD AUTOMOTIVE TR 2002-1 NT 3.750% 09/18/06 11,880 12,040
HSEHD AUTOMOTIVE TR 2002-3 NT 2.750% 06/18/07 19,000 19,231
HSEHD AUTOMOTIVE TR 2003-1 NT 1.730% 12/17/07 13,000 12,890
M&I AUTO LN TR 2003-1 NT 2.310% 02/20/08 19,000 19,013
*MERRILL LYNCH & CO INC 7.375% 05/15/06 4,000 4,436
MMCA AUTO OWNER TR SER 2000-1 7.080% 02/15/05 6,654 6,719
MORGAN STANLEY AUTO LN 2003-HB1 1.460% 07/16/07 3,583 3,577
MORGAN STANLEY AUTO LN 2003-HB1 2.170% 04/15/11 10,000 9,868
PFIZER INC 3.625% 11/01/04 10,000 10,186
PROCTER & GAMBLE CO 4.000% 04/30/05 2,010 2,072
TOYOTA AUTO RECEIVABLES 2002-B 3.760% 06/15/06 17,540 17,764
TOYOTA AUTO RECEIVABLES 2002-C 2.650% 11/15/06 25,000 25,225
TOYOTA AUTO RECEIVABLES 2003-A 1.690% 03/15/07 12,500 12,500
TOYOTA AUTO RECEIVABLES 2003-B 1.430% 02/15/06 20,000 19,998
USAA AUTO OWNER TR 2001-2 3.200% 02/15/06 10,983 11,019
USAA AUTO OWNER TR 2003-1 1.580% 06/15/07 30,000 29,851
USAA AUTO OWNER TR AST BKD NT 2.410% 10/16/06 12,664 12,747
USAA AUTO OWNER TR SER 2003-1 1.220% 04/17/06 10,000 9,998
VOLKSWAGEN AUTO LEASE TR 2002-A 2.360% 12/20/05 20,000 20,131
VOLKSWAGEN AUTO LN ENHCD 2003-1 1.490% 05/21/07 40,000 39,731
VOLKSWAGEN AUTO LN ENHCD 2003-2 2.270% 10/22/07 40,000 40,058
WELLS FARGO AUTO TR 2001-A NT 4.680% 02/15/05 217 217
---------- ----------
TOTAL CORPORATE DEBT INSTRUMENTS $ 953,930 $ 961,207
-16-
SCHEDULE H
EXXONMOBIL SAVINGS PLAN
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
12/31/03
(thousands of dollars)
MATURITY PAR CURRENT
DESCRIPTION COUPON DATE VALUE VALUE
-------------------------------------------------------------------------
U.S. GOVERNMENT SECURITIES
FEDERAL HOME LN MTG CORP 3.250% 11/15/04 $ 30,000 $ 30,506
FEDERAL HOME LN MTG CORP 6.875% 01/15/05 8,000 8,452
FEDERAL HOME LN MTG CORP 3.875% 02/15/05 54,000 55,468
FEDERAL HOME LN MTG CORP 5.500% 07/15/06 68,200 73,486
FEDERAL HOME LN MTG CORP 2.875% 12/15/06 35,000 35,252
FEDERAL HOME LN MTG CORP 2.182% 09/27/07 13,784 13,796
FEDERAL HOME LOAN BANK 5.375% 01/05/04 50,000 50,016
FEDERAL HOME LOAN BANK 5.125% 03/06/06 15,500 16,493
FEDERAL NATL MTG ASSN 5.125% 02/13/04 5,000 5,023
FEDERAL NATL MTG ASSN 6.500% 08/15/04 10,000 10,325
FEDERAL NATL MTG ASSN 7.125% 02/15/05 28,000 29,768
FEDERAL NATL MTG ASSN 3.875% 03/15/05 5,000 5,147
FEDERAL NATL MTG ASSN 5.500% 02/15/06 9,000 9,636
FEDERAL NATL MTG ASSN POOL 6.500% 01/01/04 4 4
FEDERAL NATL MTG ASSN PREASSIGN 7.000% 07/15/05 42,000 45,373
FEDERAL NATL MTG ASSN PREASSIGN 5.250% 06/15/06 2,500 2,674
FEDERAL NATL MTG ASSN PREASSIGN 3.250% 11/25/32 8,145 8,268
US SVGS BDS SER I 4.080% 01/01/33 153,860 159,028
US SVGS BDS SER I 5.920% 10/01/31 151,480 167,793
US SVGS BDS SER I 2.570% 10/01/32 79,740 82,697
US SVGS BDS SER I 4.080% 11/01/32 79,740 82,956
US SVGS BDS SER I 4.660% 10/01/33 50,464 50,905
---------- ----------
TOTAL U.S. GOVERNMENT SECURITIES $ 899,417 $ 943,066
COMMON COLLECTIVE TRUSTS
BANK OF NY COLTV TR FD $ 186,153 $ 186,153
*COLTV SHORT TERM INVT FD 196,618 196,618
---------- ---------
TOTAL COMMON COLLECTIVE TRUSTS $ 382,771 $ 382,771
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SCHEDULE H
EXXONMOBIL SAVINGS PLAN
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
12/31/03
(thousands of dollars)
MATURITY PAR CURRENT
DESCRIPTION COUPON DATE VALUE VALUE
-------------------------------------------------------------------------
SYNTHETIC INVESTMENT CONTRACTS
WITH FINANCIAL INSTITUTIONS:
AIG FINANCIAL PRODUCTS:
CAP AUTO RECEIVABLES AST 1.253% 04/17/06 $ 22,500 $ 22,512
AIG WRAPPER (3)
UBS AG:
CA INFRASTRUCT & ECN DEVBK 6.420% 09/25/08 18,345 19,512
TOYOTA AUTO RECV 2002-B 3.760% 06/15/06 16,054 16,259
NISSAN AUTO RECV 2002 B 3.990% 12/15/05 27,295 27,593
UBS AG WRAPPER (1,127)
WESTLB AG:
MBNA MSTR CC TR II 6.900% 01/15/08 18,685 20,152
WESTLB AG WRAPPER (1,035)
---------- ----------
TOTAL SYNTHETIC INVESTMENT CONTRACTS
WITH FINANCIAL INSTITUTIONS $ 102,879 $ 103,863
GUARANTEED INVESTMENT CONTRACTS
WITH INSURANCE COMPANIES:
NEW YORK LIFE INS CO 4.880% 09/30/05 $ 30,353 $ 30,353
PACIFIC LIFE INS CO 6.300% 03/30/04 15,706 15,706
PRINCIPAL LIFE INS CO 6.060% 03/29/06 31,371 31,371
SECURITY LIFE OF DENVER INS 5.500% 05/23/05 20,668 20,668
---------- ----------
TOTAL GUARANTEED INVESTMENT CONTRACTS
WITH INSURANCE COMPANIES $ 98,098 $ 98,098
OTHER SECURITIES
ALTA PROV CDA EURO MTN 7.250% 04/05/04 $ 5,000 $ 5,075
MAN PROV CDA DEB 6.125% 01/19/04 2,515 2,519
---------- ----------
TOTAL OTHER SECURITIES $ 7,515 $ 7,594
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SCHEDULE H
EXXONMOBIL SAVINGS PLAN
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
12/31/03
(thousands of dollars)
MATURITY PAR CURRENT
DESCRIPTION COUPON DATE VALUE VALUE
-------------------------------------------------------------------------
*PARTICIPANT LOANS
(ANNUAL INTEREST RATES
FROM 4.5% TO 9.5%,
MATURITIES FROM
12 MONTHS TO 60 MONTHS) $ 242,377
----------
TOTAL COMMON ASSET FUND $2,444,610 $2,738,976
========== ==========
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SCHEDULE H
EXXONMOBIL SAVINGS PLAN
SCHEDULE H, LINE 4i
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
12/31/03
(thousands)
SHARES/ CURRENT
UNITS VALUE
FUND/ISSUE (000's) ($000's)
-------------------------------------------------------------------------
COMMON STOCK:
------------------------
* EXXONMOBIL CORPORATION 226,984 $ 9,306,338
COMMON COLLECTIVE TRUSTS:
--------------------------
*BARCLAYS GLOBAL INVESTORS, N.A.
EQUITY INDEX FUND 6,313 $ 1,786,852
*BARCLAYS GLOBAL INVESTORS, N.A.
EXTENDED EQUITY INDEX FUND 19,973 $ 550,652
*BARCLAYS GLOBAL INVESTORS, N.A.
BALANCED FUND 19,666 $ 224,786
*BARCLAYS GLOBAL INVESTORS, N.A.
EAFE FUND 9,534 $ 106,781
*BARCLAYS GLOBAL INVESTORS, N.A.
BOND FUND 11,678 $ 82,678
-----------
TOTAL ASSETS HELD FOR INVESTMENT PURPOSES $14,797,063
===========
* Party-in-interest as defined by ERISA
-20-
Report of Independent Registered Public Accounting Firm
To the Participants and Administrator of the ExxonMobil Savings Plan:
In our opinion, the accompanying statements of net assets available for
benefits and the related statement of changes in net assets available for
benefits present fairly, in all material respects, the net assets available
for benefits of the ExxonMobil Savings Plan (the "Savings Plan") at December
31, 2003 and 2002, and the changes in net assets available for benefits for
the year ended December 31, 2003 in conformity with accounting principles
generally accepted in the United States of America. These financial state-
ments are the responsibility of the Savings Plan's management. Our respon-
sibility is to express an opinion on these financial statements based on
our audits. We conducted our audits of these statements in accordance with
the standards of the Public Company Accounting Oversight Board (United
States). Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements,
assessing the accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation. We
believe that our audits provide a reasonable basis for our opinion.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule of assets
(held at end of year) and schedule of nonexempt transactions are presented
for the purpose of additional analysis and are not a required part of the
basic financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974. These supple-
mental schedules are the responsibility of the Savings Plan's management.
The supplemental schedules have been subjected to the auditing procedures
applied in the audits of the basic financial statements and, in our opinion,
are fairly stated in all material respects in relation to the basic financial
statements taken as a whole.
PricewaterhouseCoopers LLP
Houston, Texas
June 25, 2004
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SIGNATURE
----------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
trustees (or other persons who administer the Plan) have duly caused this
Annual Report to be signed by the undersigned hereunto duly authorized.
EXXONMOBIL SAVINGS PLAN
(Name of Plan)
/s/ S. B. L. Penrose
___________________________________
S. B. L. Penrose
Pursuant to delegation by
Administrator-Finance
Dated: June 25, 2004
-22-
EXHIBIT INDEX
-------------
EXHIBIT SUBMISSION MEDIA
23. Consent of PricewaterhouseCoopers LLP, Electronic
Independent Registered Public Accounting Firm,
Dated June 25, 2004
-23-
EXHIBIT 23
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
--------------------------------------------------------
We hereby consent to the incorporation by reference in the Registration
Statement on Form S-8 (No. 333-72955) of Exxon Mobil Corporation of our
report dated June 25, 2004 relating to the financial statements and the
supplemental schedules of the ExxonMobil Savings Plan, which appear in
this Form 11-K.
PricewaterhouseCoopers LLP
Houston, Texas
June 25, 2004
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