EXXON MOBIL CORP 10-Q form for quarterly period ended 2024-06-30, page 5: 
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|  2 | CONDENSED CONSOLIDATED BALANCE SHEET |

|    |                                                                                                                      |               |                   |           |
|---:|:---------------------------------------------------------------------------------------------------------------------|:--------------|:------------------|:----------|
|  1 | (millions of dollars, unless noted)                                                                                  | June 30, 2024 | December 31, 2023 |           |
|  3 | ASSETS                                                                                                               |               |                   |           |
|  4 | Current assets                                                                                                       |               |                   |           |
|  5 | Cash and cash equivalents                                                                                            | 26,460        |                   | 31,539    |
|  6 | Cash and cash equivalents – restricted                                                                               | 28            |                   | 29        |
|  7 | Notes and accounts receivable – net                                                                                  | 43,071        |                   | 38,015    |
|  8 | Inventories                                                                                                          |               |                   |           |
|  9 | Crude oil, products and merchandise                                                                                  | 19,685        |                   | 20,528    |
| 10 | Materials and supplies                                                                                               | 4,818         |                   | 4,592     |
| 11 | Other current assets                                                                                                 | 2,176         |                   | 1,906     |
| 12 | Total current assets                                                                                                 | 96,238        |                   | 96,609    |
| 13 | Investments, advances and long-term receivables                                                                      | 47,948        |                   | 47,630    |
| 14 | Property, plant and equipment – net                                                                                  | 298,283       |                   | 214,940   |
| 15 | Other assets, including intangibles – net                                                                            | 18,238        |                   | 17,138    |
| 16 | Total Assets                                                                                                         | 460,707       |                   | 376,317   |
| 18 | LIABILITIES                                                                                                          |               |                   |           |
| 19 | Current liabilities                                                                                                  |               |                   |           |
| 20 | Notes and loans payable                                                                                              | 6,621         |                   | 4,090     |
| 21 | Accounts payable and accrued liabilities                                                                             | 60,107        |                   | 58,037    |
| 22 | Income taxes payable                                                                                                 | 4,035         |                   | 3,189     |
| 23 | Total current liabilities                                                                                            | 70,763        |                   | 65,316    |
| 24 | Long-term debt                                                                                                       | 36,565        |                   | 37,483    |
| 25 | Postretirement benefits reserves                                                                                     | 10,398        |                   | 10,496    |
| 26 | Deferred income tax liabilities                                                                                      | 40,080        |                   | 24,452    |
| 27 | Long-term obligations to equity companies                                                                            | 1,612         |                   | 1,804     |
| 28 | Other long-term obligations                                                                                          | 25,023        |                   | 24,228    |
| 29 | Total Liabilities                                                                                                    | 184,441       |                   | 163,779   |
| 31 | Commitments and contingencies (Note 3)                                                                               |               |                   |           |
| 33 | EQUITY                                                                                                               |               |                   |           |
| 34 | Common stock without par value (9,000 million shares authorized, 8,019 million shares issued)                        | 46,781        |                   | 17,781    |
| 35 | Earnings reinvested                                                                                                  | 463,294       |                   | 453,927   |
| 36 | Accumulated other comprehensive income                                                                               | (13,187)      |                   | (11,989)  |
| 37 | Common stock held in treasury (3,576 million shares at June 30, 2024 and4,048 million shares at December 31, 2023)   | (228,483)     |                   | (254,917) |
| 38 | ExxonMobil share of equity                                                                                           | 268,405       |                   | 204,802   |
| 39 | Noncontrolling interests                                                                                             | 7,861         |                   | 7,736     |
| 40 | Total Equity                                                                                                         | 276,266       |                   | 212,538   |
| 41 | Total Liabilities and Equity                                                                                         | 460,707       |                   | 376,317   |
| 43 | The information in the Notes to Condensed Consolidated Financial Statements is an integral part of these statements. |               |                   |           |
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Question: What is ExxonMobil’s debt ratio as of June 30, 2024?
Answer: Debt Ratio= Total Debt/Total Assets (36,565+6,621)/460,707 =0.094 = 9.4%. This low debt ratio reflects ExxonMobil’s conservative approach to debt.