ExxonMobil Earns $3.2 Billion in Third Quarter 2019

Exxon Mobil Corporation (NYSE: XOM):

										Second
				Third Quarter						Quarter				First Nine Months
				2019		2018		%		2019		%		2019		2018		%
Earnings Summary
(Dollars in millions, except per share data)
	Earnings (U.S. GAAP)			3,170		6,240		-49		3,130		1		8,650		14,840		-42
	Earnings Per Common Share
	Assuming Dilution			0.75		1.46		-49		0.73		3		2.03		3.47		-41
Capital and Exploration
Expenditures				7,719		6,586		17		8,079		-4		22,688		18,080		25

Exxon Mobil Corporation today announced estimated third quarter 2019 earnings of $3.2 billion, or $0.75 per share assuming dilution. Earnings included a favorable tax-related identified item of about $300 million, or $0.07 per share assuming dilution. Capital and exploration expenditures were $7.7 billion, including key investments in the Permian Basin.

Oil-equivalent production rose 3 percent from the third quarter of 2018, to 3.9 million barrels per day. Excluding entitlement effects and divestments, liquids production increased 4 percent driven by Permian Basin growth, while natural gas volumes increased 1 percent.

“We are making excellent progress on our long-term growth strategy,” said Darren W. Woods, chairman and chief executive officer. “Growth in the Permian continues to drive increased liquids production and we are ahead of schedule for first oil in Guyana. The value of our position in Guyana improved further this quarter with an additional discovery, our fourth this year. We are also making good progress on our advantaged investments in the Downstream and Chemical. This quarter, we started production at our new high-performance polyethylene line in Beaumont. The competitiveness of our portfolio was further enhanced with the divestment of non-strategic assets, reaching almost a third of our 2021 objective of $15 billion.”

Third Quarter 2019 Business Highlights

Upstream

• Average crude and natural gas realizations declined from second quarter, in line with industry markers.
• Liquids volumes were in line with second quarter, with U.S. unconventional growth offsetting base decline. Natural gas volumes were down 1 percent.
• Permian unconventional development continued with production up 7 percent from the second quarter and more than 70 percent from the third quarter of last year.

Downstream

• Industry fuels margins improved from the second quarter on stronger distillate margins in Europe and Asia Pacific.
• Following completion of significant refinery turnaround activity during the second quarter, scheduled maintenance activity was lower in the third quarter.

Chemical

• Margins remained weak during the quarter with supply length from recent industry capacity additions.
• Scheduled maintenance activity was lower than second quarter, however results were impacted by a reliability event at the Baytown, Texas olefins plant.

Strengthening the Portfolio

• ExxonMobil announced another oil discovery on the Stabroek block offshore Guyana at the Tripletail-1 well, adding to the previously announced resource estimate of more than 6 billion oil-equivalent barrels. The Liza Destiny floating production, storage and offloading vessel arrived offshore Guyana, targeting first oil at the Liza Phase 1 development by December 2019. ExxonMobil estimates gross production from the Stabroek block will exceed 750,000 oil-equivalent barrels per day by 2025.
• ExxonMobil signed an agreement with Vår Energi AS for the sale of its non-operated upstream assets in Norway for $4.5 billion as part of its previously announced plans to divest approximately $15 billion in non-strategic assets by 2021. The transaction is expected to close in the fourth quarter of 2019, subject to standard conditions precedent, including customary approvals from regulatory authorities. The agreed sales price of $4.5 billion is subject to interim period adjustments from the effective date of January 1, 2019, to the closing date. Estimated total cash flow from the divestment is around $3.5 billion after closing adjustments, with expected 2019 cash proceeds of around $2.6 billion and estimated cash flow in future periods associated with deferred consideration of $0.3 billion and a refund of income tax payments of $0.6 billion. The corporation expects to recognize a gain of approximately $3.5 billion at closing.

Investing for Growth

• The company started production on its new high-performance polyethylene line in Beaumont, Texas. The expansion increased plant production capacity by 65 percent or 650,000 metric tons per year, and builds upon supply advantages created by the two new performance polyethylene lines which began production in 2017 at the company’s manufacturing site in Mont Belvieu, Texas.
• Affiliates of MPLX LP, Delek US and Rattler Midstream LP joined ExxonMobil, Plains All American Pipeline LP and Lotus Midstream LLC as partners in the joint venture to develop the Wink to Webster crude oil pipeline in Texas. The new pipeline system is expected to commence operations in early 2021, providing more than one million barrels per day of Permian takeaway capacity.

Advancing Innovative Technologies and Products

• The company made additional progress in advancing the development of new technologies to address the risks of climate change. ExxonMobil and Mosaic Materials, Inc. announced an agreement to explore the advancement of potential breakthrough technology to remove carbon dioxide from emissions sources. Mosaic Materials has progressed research on a unique process that uses porous solids, known as metal-organic frameworks, to separate carbon dioxide from air or flue gas. The agreement with ExxonMobil will enable further discussion between the two companies to evaluate opportunities for industrial uses of the technology at scale.
• ExxonMobil announced the global launch of its Mobil EV^TM lubricants offering, which features a full suite of fluids and greases designed to meet the evolving drivetrain requirements of electric vehicles. The new products, which highlight close collaboration between ExxonMobil and original equipment manufacturers, contain molecules carefully selected and blended to help electric vehicles travel further between charges, extend component life, and operate more safely.

	Earnings and Volume Summary
	Millions of Dollars		3Q		3Q
	(unless noted)		2019		2018		Change		Comments
	Upstream
	U.S.		37		606		-569		Volumes growth more than offset by lower prices and higher growth-related expenses
	Non-U.S.		2,131		3,623		-1,492		Lower prices, absence of identified tax item (-271), and higher growth-related expenses
	Total		2,168		4,229		-2,061		Prices -1,510, volumes +230, other -780
	Production (koebd)		3,899		3,786		+113		Liquids +106 kbd: growth   Gas +44 mcfd: growth, partly offset by higher downtime and divestments
	Downstream
	U.S.		673		961		-288		Higher lubricants margins, more than offset by lower fuels margins with reduced North America crude differentials
	Non-U.S.		557		681		-124		Favorable refinery yield/mix impacts more than offset by increased downtime/maintenance and lower fuels margins
	Total		1,230		1,642		-412		Margins -340, downtime/maintenance -80, other +10
	Petroleum Product Sales (kbd)		5,504		5,616		-112
	Chemical
	U.S.		53		404		-351		Lower margins, higher project-related expenses, and lower volumes
	Non-U.S.		188		309		-121		Reduced downtime/maintenance more than offset by lower margins
	Total		241		713		-472		Margins -350, downtime/maintenance +20, project-related expenses -70, other -70
	Prime Product Sales (kt)		6,476		6,677		-201
	Corporate and financing		(469)		(344)		-125		Higher financing costs and absence of prior year identified tax item (-348), partly offset by current year identified tax item (+307)

	Earnings and Volume Summary
	Millions of Dollars		3Q		2Q
	(unless noted)		2019		2019		Change		Comments
	Upstream
	U.S.		37		335		-298		Lower prices and higher growth-related expenses
	Non-U.S.		2,131		2,926		-795		Lower prices, lower volumes, and absence of favorable Alberta tax rate change (-487)
	Total		2,168		3,261		-1,093		Prices -550, volumes -110, other -430
	Production (koebd)		3,899		3,909		-10		Liquids +3 kbd: growth, partly offset by increased downtime   Gas -75 mcfd: growth and lower scheduled maintenance offset by lower entitlements
	Downstream
	U.S.		673		310		+363		Reduced downtime/maintenance partly offset by lower fuels margins
	Non-U.S.		557		141		+416		Higher fuels and lubricants margins, favorable yield/sales mix, and reduced downtime/maintenance
	Total		1,230		451		+779		Margins +140, downtime/maintenance +540, other +100
	Petroleum Product Sales (kbd)		5,504		5,408		+96
	Chemical
	U.S.		53		(6)		+59		Reduced downtime/maintenance and higher margins, partly offset by unfavorable tax impacts
	Non-U.S.		188		194		-6		Lower project-related expenses more than offset by increased downtime/maintenance and lower margins
	Total		241		188		+53		Margins +30, downtime/maintenance +40, other -20
	Prime Product Sales (kt)		6,476		6,699		-223
	Corporate and financing		(469)		(770)		+301		Favorable identified tax item (+307)

	Earnings and Volume Summary
	Millions of Dollars		YTD		YTD
	(unless noted)		2019		2018		Change		Comments
	Upstream
	U.S.		468		1,474		-1,006		Volumes growth more than offset by lower prices, higher growth-related expenses, and impairment charges
	Non-U.S.		7,837		9,292		-1,455		Alberta tax rate change (+487), higher volumes, and favorable tax effects, more than offset by lower prices, higher maintenance and exploration expenses, absence of Scarborough divestment gain (-366), and absence of identified tax item (-271)
	Total		8,305		10,766		-2,461		Prices -2,280, volume +1,030, expenses -970, other -240
	Production (koebd)		3,929		3,774		+155		Liquids +131 kbd: growth and lower downtime   Gas +147 mcfd: growth and lower downtime
	Downstream
	U.S.		822		1,975		-1,153		Projects contribution and favorable yield/sales mix more than offset by increased downtime/maintenance and lower margins with narrowing North America crude differentials
	Non-U.S.		603		1,331		-728		Projects contribution and favorable foreign exchange more than offset by lower margins and unfavorable yield/sales mix
	Total		1,425		3,306		-1,881		Margins -1,430, downtime/maintenance -740, portfolio/projects +190, other +100
	Petroleum Product Sales (kbd)		5,443		5,517		-74
	Chemical
	U.S.		208		1,360		-1,152		Lower margins, higher downtime/maintenance, lower volumes, and higher project-related expenses
	Non-U.S.		739		1,254		-515		Reduced downtime/maintenance more than offset by lower margins, higher project-related expenses, and unfavorable foreign exchange
	Total		947		2,614		-1,667		Margins -1,140, project-related expenses -240, downtime/maintenance -90, other -200
	Prime Product Sales (kt)		19,947		20,197		-250
	Corporate and financing		(2,027)		(1,846)		-181		Higher pension expenses and absence of prior year identified tax item (-348) partly offset by current year identified tax item (+307)

	Cash Flow from Operations and Asset Sales excluding Working Capital
	Millions of Dollars		3Q
			2019		Comments
	Net income including noncontrolling interests		3,247		Including $77 million for noncontrolling interests
	Depreciation		4,873
	Changes in working capital		1,550		Mainly inventory draw and seasonal payables benefit
	Other		(591)		Includes adjustment for noncash identified tax item
	Cash Flow from Operating		9,079
	Activities (U.S. GAAP)
	Asset sales		460		Including Norway upstream divestment deposit and Mobile Bay sale
	Cash Flow from Operations		9,539
	and Asset Sales
	Changes in working capital		1,550
	Cash Flow from Operations		7,989
	and Asset Sales excluding Working Capital
	Millions of Dollars		YTD
			2019		Comments
	Net income including noncontrolling interests		9,044		Including $394 million for noncontrolling interests
	Depreciation		14,075
	Changes in working capital		2,564		Mainly driven by higher payables
	Other		(2,319)		Equity company earnings greater than dividends, and adjustment for noncash identified items
	Cash Flow from Operating		23,364
	Activities (U.S. GAAP)
	Asset sales		600		Including Norway upstream divestment deposit and Mobile Bay sale
	Cash Flow from Operations		23,964
	and Asset Sales
	Changes in working capital		2,564
	Cash Flow from Operations		21,400
	and Asset Sales excluding Working Capital

First Nine Months 2019 Financial Updates

During the first nine months of 2019, Exxon Mobil Corporation purchased 5 million shares of its common stock for the treasury at a gross cost of $414 million. These shares were acquired to offset dilution in conjunction with the company’s benefit plans and programs. The corporation will continue to acquire shares to offset dilution in conjunction with its benefit plans and programs.

ExxonMobil will discuss financial and operating results and other matters during a webcast at 8:30 a.m. Central Time on November 1, 2019. To listen to the event or access an archived replay, please visit www.exxonmobil.com.

Cautionary Statement

Outlooks, projections, goals, targets, descriptions of strategic plans and objectives, and other statements of future events or conditions in this release are forward-looking statements. Actual future results, including business and project plans, capacities, costs, and timing; resource recoveries and production rates; and the impact of new technologies, including to increase capital efficiency and production and to reduce greenhouse gas emissions, could differ materially due to a number of factors. These include global or regional changes in supply and demand for oil, gas, and petrochemicals and other market conditions that impact prices and differentials; reservoir performance; the outcome of exploration projects and timely completion of development and construction projects; the impact of fiscal and commercial terms and the outcome of commercial negotiations or acquisitions; changes in law, taxes, or regulation including environmental regulations, and timely granting of governmental permits; war, trade relations, shipping blockades or harassment, and other political or security disturbances; opportunities for and regulatory approval of potential investments or divestments; the actions of competitors; the capture of efficiencies between business lines; unforeseen technical or operating difficulties; unexpected technological developments; the ability to bring new technologies to commercial scale on a cost-competitive basis, including large-scale hydraulic fracturing projects; general economic conditions including the occurrence and duration of economic recessions; the results of research programs; and other factors discussed under the heading Factors Affecting Future Results on the Investors page of our website at www.exxonmobil.com and in Item 1A of ExxonMobil’s 2018 Form 10-K. We assume no duty to update these statements as of any future date.

Frequently Used Terms and Non-GAAP Measures

This press release includes cash flow from operations and asset sales. Because of the regular nature of our asset management and divestment program, we believe it is useful for investors to consider proceeds associated with the sales of subsidiaries, property, plant and equipment, and sales and returns of investments together with cash provided by operating activities when evaluating cash available for investment in the business and financing activities. A reconciliation to net cash provided by operating activities is shown for 2019 periods on page 7 and for 2019 and 2018 periods in Attachment V.

This press release also includes cash flow from operations and asset sales excluding working capital. We believe it is useful for investors to consider these numbers in comparing the underlying performance of our business across periods when there are significant period-to-period differences in the amount of changes in working capital. A reconciliation to net cash provided by operating activities is shown for 2019 periods on page 7 and for 2019 and 2018 periods in Attachment V.

This press release also includes earnings excluding identified items, which are earnings excluding significant non-operational events with an absolute corporate total earnings impact of at least $250 million. The earnings impact of an identified item for an individual segment may be less than $250 million when the item impacts several segments. We believe it is useful for investors to consider these figures in comparing the underlying performance of our business across periods when one, or both, periods include identified items. A reconciliation to earnings is shown for 2019 and 2018 periods in Attachment II.

This press release also includes total taxes including sales-based taxes. This is a broader indicator of the total tax burden on the corporation’s products and earnings, including certain sales and value-added taxes imposed on and concurrent with revenue-producing transactions with customers and collected on behalf of governmental authorities (“sales-based taxes”). It combines “Income taxes” and “Total other taxes and duties” with sales-based taxes, which are reported net in the income statement. We believe it is useful for the corporation and its investors to understand the total tax burden imposed on the corporation’s products and earnings. A reconciliation to total taxes is shown as part of the Estimated Key Financial and Operating Data in Attachment I.

References to the resource base and other quantities of oil, natural gas or condensate may include estimated amounts that are not yet classified as “proved reserves” under SEC definitions, but which are expected to be ultimately recoverable. The term “project” as used in this release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. Further information on ExxonMobil’s frequently used financial and operating measures and other terms including “Cash flow from operations and asset sales”, and “Total taxes including sales‑based taxes” is contained under the heading “Frequently Used Terms” available through the “Investors” section of our website at www.exxonmobil.com.

Reference to Earnings

References to corporate earnings mean net income attributable to ExxonMobil (U.S. GAAP) from the consolidated income statement. Unless otherwise indicated, references to earnings, Upstream, Downstream, Chemical and Corporate and financing segment earnings, and earnings per share are ExxonMobil’s share after excluding amounts attributable to noncontrolling interests.

Mobil EV is a registered trademark of Exxon Mobil Corporation.

Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Similarly, ExxonMobil has business relationships with thousands of customers, suppliers, governments, and others. For convenience and simplicity, words such as venture, joint venture, partnership, co-venturer, and partner are used to indicate business and other relationships involving common activities and interests, and those words may not indicate precise legal relationships.

	Estimated Key Financial and Operating Data
Attachment I
Exxon Mobil Corporation
Third Quarter 2019
(millions of dollars, unless noted)
								Second
				Third Quarter				Quarter		First Nine Months
				2019		2018		2019		2019		2018
Earnings / Earnings Per Share
Total revenues and other income				65,049		76,605		69,091		197,765		218,317
Total costs and other deductions				60,328		67,525		64,459		184,123		195,485
Income before income taxes				4,721		9,080		4,632		13,642		22,832
	Income taxes			1,474		2,634		1,241		4,598		7,617
Net income including noncontrolling interests				3,247		6,446		3,391		9,044		15,215
	Net income attributable to noncontrolling interests			77		206		261		394		375
Net income attributable to ExxonMobil (U.S. GAAP)				3,170		6,240		3,130		8,650		14,840
Earnings per common share (dollars)				0.75		1.46		0.73		2.03		3.47
Earnings per common share
	- assuming dilution (dollars)			0.75		1.46		0.73		2.03		3.47
Exploration expenses, including dry holes				299		292		333		912		911
Other Financial Data
Dividends on common stock
	Total			3,716		3,503		3,715		10,936		10,296
	Per common share (dollars)			0.87		0.82		0.87		2.56		2.41
Millions of common shares outstanding
	At period end									4,231		4,234
	Average - assuming dilution			4,271		4,271		4,271		4,270		4,271
ExxonMobil share of equity at period end										189,915		190,365
ExxonMobil share of capital employed at period end										239,653		232,792
Income taxes				1,474		2,634		1,241		4,598		7,617
Total other taxes and duties				8,317		8,939		8,366		24,770		26,757
	Total taxes			9,791		11,573		9,607		29,368		34,374
Sales-based taxes				5,228		5,518		5,261		15,474		16,306
	Total taxes including sales-based taxes			15,019		17,091		14,868		44,842		50,680
ExxonMobil share of income taxes of
equity companies				426		755		501		1,776		2,150

Attachment II
Exxon Mobil Corporation
Third Quarter 2019
(millions of dollars)
										Second
				Third Quarter						Quarter			First Nine Months
				2019			2018			2019			2019			2018
Earnings (U.S. GAAP)
Upstream
	United States			37			606			335			468			1,474
	Non-U.S.			2,131			3,623			2,926			7,837			9,292
Downstream
	United States			673			961			310			822			1,975
	Non-U.S.			557			681			141			603			1,331
Chemical
	United States			53			404			(6	)		208			1,360
	Non-U.S.			188			309			194			739			1,254
Corporate and financing				(469	)		(344	)		(770	)		(2,027	)		(1,846	)
Net income attributable to ExxonMobil				3,170			6,240			3,130			8,650			14,840
Identified Items Included in Earnings
Non-U.S. Upstream
	Tax Items			-			271			487			487			271
	Asset Management			-			-			-			-			366
Non-U.S. Downstream
	Tax Items			-			-			(9	)		(9	)		-
Non-U.S. Chemical
	Tax Items			-			-			2			2			-
Corporate and financing
	Tax Items			307			348			25			332			348
Corporate total				307			619			505			812			985
Earnings Excluding Identified Items
Upstream
	United States			37			606			335			468			1,474
	Non-U.S.			2,131			3,352			2,439			7,350			8,655
Downstream
	United States			673			961			310			822			1,975
	Non-U.S.			557			681			150			612			1,331
Chemical
	United States			53			404			(6	)		208			1,360
	Non-U.S.			188			309			192			737			1,254
Corporate and financing				(776	)		(692	)		(795	)		(2,359	)		(2,194	)
Corporate total				2,863			5,621			2,625			7,838			13,855

Attachment III
Exxon Mobil Corporation
Third Quarter 2019
									Second
					Third Quarter				Quarter		First Nine Months
					2019		2018		2019		2019		2018
Net production of crude oil, natural gas
liquids, bitumen and synthetic oil,
thousand barrels per day (kbd)
		United States			654		555		662		639		541
		Canada / Other Americas			464		454		469		462		424
		Europe			113		127		103		113		136
		Africa			371		387		383		374		391
		Asia			738		706		727		737		699
		Australia / Oceania			52		57		45		44		47
			Worldwide		2,392		2,286		2,389		2,369		2,238
Natural gas production available for sale,
million cubic feet per day (mcfd)
		United States			2,883		2,549		2,803		2,800		2,572
		Canada / Other Americas			254		224		249		247		219
		Europe			1,004		1,004		1,215		1,440		1,555
		Africa			7		16		5		6		12
		Asia			3,433		3,685		3,461		3,516		3,549
		Australia / Oceania			1,464		1,523		1,387		1,351		1,306
			Worldwide		9,045		9,001		9,120		9,360		9,213
Oil-equivalent production (koebd)1					3,899		3,786		3,909		3,929		3,774
1 Natural gas is converted to an oil-equivalent basis at six million cubic feet per one thousand barrels.

Attachment IV
Exxon Mobil Corporation
Third Quarter 2019
								Second
				Third Quarter				Quarter		First Nine Months
				2019		2018		2019		2019		2018
Refinery throughput (kbd)
	United States			1,647		1,644		1,430		1,484		1,564
	Canada			363		388		344		363		386
	Europe			1,325		1,446		1,314		1,322		1,441
	Asia Pacific			532		720		683		608		718
	Other			185		194		159		180		155
		Worldwide		4,052		4,392		3,930		3,957		4,264
Petroleum product sales (kbd)
	United States			2,336		2,267		2,264		2,270		2,204
	Canada			492		527		482		486		508
	Europe			1,508		1,582		1,443		1,487		1,584
	Asia Pacific			700		824		775		741		811
	Other			468		416		444		459		410
		Worldwide		5,504		5,616		5,408		5,443		5,517
	Gasolines, naphthas			2,255		2,255		2,198		2,201		2,229
	Heating oils, kerosene, diesel			1,833		1,837		1,820		1,855		1,815
	Aviation fuels			445		430		391		408		410
	Heavy fuels			261		411		308		289		397
	Specialty products			710		683		691		690		666
		Worldwide		5,504		5,616		5,408		5,443		5,517
Chemical prime product sales,
thousand metric tons (kt)
	United States			2,216		2,445		2,295		6,833		7,247
	Non-U.S.			4,260		4,232		4,404		13,114		12,950
		Worldwide		6,476		6,677		6,699		19,947		20,197

											Attachment V
Exxon Mobil Corporation
Third Quarter 2019
(millions of dollars)
								Second
				Third Quarter				Quarter			First Nine Months
				2019		2018		2019			2019		2018
Capital and Exploration Expenditures
	Upstream
		United States		3,002		2,040		3,255			8,805		5,040
		Non-U.S.		2,789		3,290		2,987			8,589		8,904
		Total		5,791		5,330		6,242			17,394		13,944
	Downstream
		United States		590		297		624			1,628		861
		Non-U.S.		479		422		489			1,383		1,702
		Total		1,069		719		1,113			3,011		2,563
	Chemical
		United States		656		411		553			1,761		1,168
		Non-U.S.		196		115		165			505		356
		Total		852		526		718			2,266		1,524
	Other			7		11		6			17		49
	Worldwide			7,719		6,586		8,079			22,688		18,080
Cash flow from operations and asset sales excluding working capital
Net cash provided by operating activities
(U.S. GAAP)				9,079		11,108		5,947			23,364		27,407
Proceeds associated with asset sales				460		1,491		33			600		3,239
Cash flow from operations and asset sales				9,539		12,599		5,980			23,964		30,646
Changes in working capital				1,550		957		(1,243	)		2,564		(25	)
Cash flow from operations and asset sales				7,989		11,642		7,223			21,400		30,671
		excluding working capital

Attachment VI
Exxon Mobil Corporation
Earnings
					$ Millions		$ Per Common Share1
	2015
	First Quarter				4,940			1.17
	Second Quarter				4,190			1.00
	Third Quarter				4,240			1.01
	Fourth Quarter				2,780			0.67
			Year		16,150			3.85
	2016
	First Quarter				1,810			0.43
	Second Quarter				1,700			0.41
	Third Quarter				2,650			0.63
	Fourth Quarter				1,680			0.41
			Year		7,840			1.88
	2017
	First Quarter				4,010			0.95
	Second Quarter				3,350			0.78
	Third Quarter				3,970			0.93
	Fourth Quarter				8,380			1.97
			Year		19,710			4.63
	2018
	First Quarter				4,650			1.09
	Second Quarter				3,950			0.92
	Third Quarter				6,240			1.46
	Fourth Quarter				6,000			1.41
			Year		20,840			4.88
	2019
	First Quarter				2,350			0.55
	Second Quarter				3,130			0.73
	Third Quarter				3,170			0.75
	1 Computed using the average number of shares outstanding during each period.

 

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