ExxonMobil Corp. fell from its No. 1 position on the Fortune 500 of top revenue earners last year to No. 2 behind Wal-Mart Stores, Fortune reported on Monday.

ExxonMobil profits topped all others at $44.88 billion in 2012, more than Wal-Mart’s $16.99 billion. However, revenues were $449.9 billion, versus Wal-Mart’s $469.2 billion. Wal-Mart’s total return to investors over the past year also was tops, at 17.6%, while ExxonMobil’s return was 4.7%.

“In 2012, ExxonMobil posted the second-highest annual profit in U.S. history, surpassed only by its own 2008 record,” Fortune noted. “Net income rose to $44.8 billion, a 9.3% jump from the previous year and only slightly below its 2008 record $45.22 billion.”

Coming in at No. 3 was Chevron Corp., with $233.9 billion in revenues, $26.18 billion in profits and a 5% rate of return for investors.

Phillips 66, which has been a standalone company for only about a year since it was spun off of Marathon Oil Corp. (ranked at No. 174), was in the No. 4 with revenue of $169.6 billion and earnings of $4.12 billion. It hasn’t been in business long enough to determine an annual rate of return for investors.

Rounding out the top five was Berkshire Hathaway, with $162.5 billion in revenue, $14.8 billion in profits and a 16.8% return on investment.

Total revenue for all Fortune 500 companies was up 2.7% from 2011; total profits, however, were down about 0.5%.

Other energy firms making the Fortune 200 included Valero Energy, 9; Marathon Petroleum, 33 (another spinoff); ConocoPhillips, 45; Enterprise Products Partners, 64; Hess Corp., 75; and Plains All American Pipeline (No. 77).

Also included are Murphy Oil, 104; Halliburton Co., 106; Occidental Petroleum Corp., 125; Baker Hughes Inc., 135; HollyFrontier, 143; National Oilwell Varco, 144; Freeport-McMoRan Copper & Gold, 156; Energy Transfer Equity, 161; Apache Corp., 167; Southern Co., 171; Marathon Oil Corp., 174; and PG&E Corp., 183.

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