ExxonMobil (NYSE: XOM) reported a record $19.7 billion profit in the third quarter, fueled partly by surging natural gas prices. Meanwhile, cash flow from operations was even higher at $24.4 billion. That was enough money to cover the company's capital and exploration expenses with lots of room to spare. 

The oil giant returned a considerable chunk of that excess cash to shareholders through dividends and share buybacks. However, despite those cash returns, Exxon ended the quarter with over $30 billion of cash on its balance sheet. That colossal cash balance has some analysts wondering if the company has big plans for this money. Here's what Exxon's CFO Kathy Mikells had to say about the company's ballooning cash war chest on its third-quarter conference call.

ExxonMobil ended the third quarter with $30.5 billion of cash on its balance sheet. That's above the top end of its $20 billion to $30 billion target range. Meanwhile, its debt-to-capital ratio was 19%, just below the low end of its target range. Leverage was even lower at 7% on a net basis after factoring in Exxon's sizable cash balance. 

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Source Fool.com