Marathon Petroleum Corp (MPC) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
539 SOUTH MAIN STREET FINDLAY, OH 45840-3229 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 2911 - Petroleum Refining (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)Annual | Quarterly
| 12/31/2024 Q4 | 9/30/2024 Q3 | 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 5,143 | 8,499 | 7,574 | 10,224 | 13,056 | 11,454 | |||
| Cash and cash equivalent | 4,002 | 4,441 | 3,175 | 5,443 | 8,452 | 7,345 | |||
| Short-term investments | 1,141 | 4,058 | 4,399 | 4,781 | 4,604 | 4,109 | |||
| Receivables | 10,180 | 12,307 | 13,171 | 11,619 | 12,469 | 10,274 | |||
| Inventory, net of allowances, customer advances and progress billings | 9,886 | 9,800 | 9,781 | 9,317 | 10,143 | 9,536 | |||
| Inventory | 9,886 | 9,800 | 9,781 | 9,317 | 10,143 | 9,536 | |||
| Other current assets | 740 | 741 | 734 | 971 | 607 | 949 | |||
| Total current assets: | 25,949 | 31,347 | 31,260 | 32,131 | 36,275 | 32,213 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 352 | ||||||||
| Operating lease, right-of-use asset | 1,192 | 1,187 | 1,255 | 1,233 | 1,310 | 1,288 | |||
| Long-term investments and receivables | 6,976 | 6,821 | 6,831 | 6,260 | 6,521 | 6,665 | |||
| Long-term investments | 6,976 | 6,821 | 6,831 | 6,260 | 6,521 | 6,665 | |||
| Intangible assets, net (including goodwill) | 8,244 | 8,244 | 8,244 | 10,009 | 8,244 | 8,244 | |||
| Goodwill | 8,244 | 8,244 | 8,244 | 8,244 | 8,244 | 8,244 | |||
| Intangible assets, net (excluding goodwill) | 1,765 | ||||||||
| Other noncurrent assets | 2,930 | 2,944 | 2,975 | 3,007 | 2,929 | 2,973 | |||
| Other undisclosed noncurrent assets | 34,542 | 34,686 | 34,963 | 32,995 | 34,690 | 35,059 | |||
| Total noncurrent assets: | 53,884 | 53,882 | 54,268 | 53,856 | 53,694 | 54,229 | |||
| TOTAL ASSETS: | 79,833 | 85,229 | 85,528 | 85,987 | 89,969 | 86,442 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 15,032 | 17,311 | 17,894 | 16,097 | 18,137 | 14,924 | |||
| Accounts payable | 12,763 | 14,865 | 15,471 | 13,761 | 15,839 | 13,052 | |||
| Accrued liabilities | 2,269 | 2,446 | 2,423 | 2,336 | 2,298 | 1,872 | |||
| Debt | 4,167 | 4,903 | 2,457 | 1,954 | 819 | 72 | |||
| Asset retirement obligation | 24 | ||||||||
| Other liabilities | 1,384 | 1,323 | 964 | 1,645 | 2,326 | 2,047 | |||
| Other undisclosed current liabilities | 485 | 463 | 472 | 430 | 453 | 423 | |||
| Total current liabilities: | 21,068 | 24,000 | 21,787 | 20,150 | 21,735 | 17,466 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 24,053 | 24,034 | 24,832 | 25,329 | 26,463 | 27,211 | |||
| Finance lease, liability | 401 | ||||||||
| Other undisclosed long-term debt and lease obligation | 24,053 | 24,034 | 24,832 | 24,928 | 26,463 | 27,211 | |||
| Liabilities, other than long-term debt | 7,648 | 7,749 | 7,783 | 7,918 | 7,632 | 7,953 | |||
| Asset retirement obligations | 218 | ||||||||
| Deferred income tax liabilities | 5,766 | 5,810 | 5,831 | 5,834 | 5,813 | 5,913 | |||
| Liability, pension and other postretirement and postemployment benefits | 1,191 | 1,228 | 1,182 | 1,102 | 971 | 1,181 | |||
| Operating lease, liability | 691 | 711 | 770 | 764 | 848 | 859 | |||
| Other undisclosed noncurrent liabilities | 1,352 | 1,358 | 1,355 | 1,191 | 1,341 | 1,244 | |||
| Total noncurrent liabilities: | 33,053 | 33,141 | 33,970 | 34,438 | 35,436 | 36,408 | |||
| Total liabilities: | 54,121 | 57,141 | 55,757 | 54,588 | 57,171 | 53,874 | |||
| Temporary equity, including noncontrolling interest | 203 | 202 | 561 | 895 | 970 | 968 | |||
| Equity | |||||||||
| Equity, attributable to parent | 18,933 | 21,324 | 22,922 | 24,404 | 25,862 | 25,714 | |||
| Common stock | 10 | 10 | 10 | 10 | 10 | 10 | |||
| Treasury stock, value | (51,320) | (48,592) | (45,674) | (43,502) | (40,949) | (38,119) | |||
| Additional paid in capital | 33,630 | 33,635 | 33,530 | 33,465 | 33,426 | 33,411 | |||
| Accumulated other comprehensive loss | (158) | (152) | (143) | (131) | (49) | (30) | |||
| Retained earnings | 36,771 | 36,423 | 35,199 | 34,562 | 33,424 | 30,442 | |||
| Equity, attributable to noncontrolling interest | 6,576 | 6,562 | 6,288 | 6,100 | 5,966 | 5,886 | |||
| Total equity: | 25,509 | 27,886 | 29,210 | 30,504 | 31,828 | 31,600 | |||
| TOTAL LIABILITIES AND EQUITY: | 79,833 | 85,229 | 85,528 | 85,987 | 89,969 | 86,442 | |||
Income Statement (P&L) ($ in millions)Annual | Quarterly
| 12/31/2024 Q4 | 9/30/2024 Q3 | 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 35,107 | 37,914 | 32,706 | 36,255 | 40,917 | 36,343 | ||
| Cost of revenue | (33,207) | (35,016) | (30,668) | (33,699) | (36,116) | (32,828) | ||
| Cost of product and service sold | (32,144) | (33,945) | (29,593) | (32,582) | (34,928) | (31,762) | ||
| Gross profit: | 1,900 | 2,898 | 2,038 | 2,556 | 4,801 | 3,515 | ||
| Operating expenses | (817) | (824) | (759) | (729) | (714) | (691) | ||
| Other undisclosed operating income | 266 | 448 | 505 | 568 | 666 | 481 | ||
| Operating income: | 1,349 | 2,522 | 1,784 | 2,395 | 4,753 | 3,305 | ||
| Interest and debt expense | (221) | (194) | (179) | (111) | (118) | (142) | ||
| Income from continuing operations before income taxes: | 1,128 | 2,328 | 1,605 | 2,284 | 4,635 | 3,163 | ||
| Income tax expense | (113) | (373) | (293) | (407) | (1,004) | (583) | ||
| Net income: | 1,015 | 1,955 | 1,312 | 1,877 | 3,631 | 2,580 | ||
| Net loss attributable to noncontrolling interest | (393) | (440) | (375) | (426) | (351) | (354) | ||
| Net income attributable to parent: | 622 | 1,515 | 937 | 1,451 | 3,280 | 2,226 | ||
| Undistributed earnings (loss) allocated to participating securities, basic | (1) | (1) | (2) | (2) | (1) | |||
| Net income available to common stockholders, diluted: | 622 | 1,514 | 936 | 1,449 | 3,278 | 2,225 | ||
Comprehensive Income ($ in millions)Annual | Quarterly
| 12/31/2024 Q4 | 9/30/2024 Q3 | 6/30/2024 Q2 | 3/31/2024 Q1 | 12/31/2023 Q4 | 9/30/2023 Q3 | 6/30/2023 Q2 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 1,015 | 1,955 | 1,312 | 1,877 | 3,631 | 2,580 | ||
| Net loss attributable to redeemable noncontrolling interest | (6) | (5) | ✕ | ✕ | ✕ | |||
| Other comprehensive income (loss) | (6) | (9) | (12) | (82) | (19) | (21) | ||
| Comprehensive income: | 1,009 | 1,946 | 1,300 | 1,795 | 3,612 | 2,559 | ||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (393) | (440) | (375) | (426) | (351) | (354) | ||
| Comprehensive income, net of tax, attributable to parent: | 616 | 1,506 | 925 | 1,369 | 3,261 | 2,205 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.