January 19, 2018 / 8:22 PM / 7 months ago

BRIEF-Exxonmobil To Change Presentation Of Some Line Items‍​ In Upcoming Earnings

Jan 19 (Reuters) - Exxon Mobil Corp:

* EXXONMOBIL - WISHES TO NOTIFY INVESTORS THAT UPCOMING EARNINGS REPORT WILL REFLECT A CHANGE IN THE FORM OF PRESENTATION OF CERTAIN LINE ITEMS‍​

* EXXONMOBIL - ‍EFFECTIVE DEC 31, CO REVISED ACCOUNTING POLICY ELECTION RELATED TO REPORTING OF SALES, EXCISE AND VALUE-ADDED TAXES ASSESSED ON CUSTOMERS​

* EXXONMOBIL SAYS EFFECTIVE DEC 31, 2017, CO RECLASSIFIED U.S. FEDERAL EXCISE TAX FROM “SALES-BASED TAXES” TO “OTHER TAXES AND DUTIES” - SEC FILING

* EXXONMOBIL - ‍REVISED ELECTION MAKES REPORTED REVENUE MORE CONSISTENT WITH CO’S ROLE AS AN AGENT FOR GOVERNMENT COLLECTING TAXES ASSESSED ON CUSTOMERS

* EXXONMOBIL SAYS AMOUNT RECLASSIFIED WAS $3,110 MILLION IN 2016 AND $3,044 MILLION IN 2015

* EXXONMOBIL - ‍CHANGE IN ACCOUNTING PRINCIPLE WAS APPLIED RETROSPECTIVELY AND DOES NOT AFFECT NET INCOME ATTRIBUTABLE TO EXXONMOBIL​ Source text: (bit.ly/2DkICyB) Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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