Marathon Petroleum Corporation (MPC) financial statements (2022 and earlier)

Company profile

Business Address 539 SOUTH MAIN STREET
FINDLAY, OH 45840-3229
State of Incorp. DE
Fiscal Year End December 31
SIC 2911 - Petroleum Refining (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,2914151,5271,6873,0118871,127
Cash and cash equivalents5,2914151,5271,6873,0118871,127
Receivables11,0345,7607,8725,8534,6953,6172,927
Inventory, net of allowances, customer advances and progress billings8,0557,99910,2439,8375,5505,6565,225
Inventory8,0557,99910,2439,8375,5505,6565,225
Disposal group, including discontinued operation 11,389     
Other current assets5682,724528646145241192
Other undisclosed current assets5,548      
Total current assets:30,49628,28720,17018,02313,40110,4019,471
Noncurrent Assets
Finance lease, right-of-use asset479  
Operating lease, right-of-use asset1,3721,5212,459
Property, plant and equipment 39,03545,61545,05826,44325,76525,164
Long-term investments and receivables5,4095,4226,8985,8984,7873,8273,622
Long-term investments5,4095,4226,8985,8984,7873,8273,622
Intangible assets, net (including goodwill)10,3918,25620,04020,1843,5863,5874,019
Goodwill8,2568,25620,04020,1843,5863,5874,019
Intangible assets, net (excluding goodwill)2,135      
Other noncurrent assets2,4002,6373,3743,777830833839
Other undisclosed noncurrent assets34,826      
Total noncurrent assets:54,87756,87178,38674,91735,64634,01233,644
TOTAL ASSETS:85,37385,15898,55692,94049,04744,41343,115
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities15,8429,64013,93511,9649,5586,7405,890
Accounts payable13,7007,80311,6239,3668,2975,5934,743
Employee-related liabilities9117321,1261,152591530503
Taxes payable1,2311,1051,1861,446670617644
Debt5712,8547115446242829
Asset retirement obligation141424    
Disposal group, including discontinued operation 1,850     
Other liabilities1,047822897708296378426
Other undisclosed current liabilities424483580    
Total current liabilities:17,89815,66316,14713,21610,4787,1466,345
Noncurrent Liabilities
Long-term debt and lease obligation, including:24,96828,73028,12726,98012,32210,54411,896
Finance lease, liability525576 
Operating lease, liability9271,0141,875
Other undisclosed long-term debt and lease obligation23,51627,14026,25226,98012,32210,54411,896
Liabilities, other than long-term debt6,8408,5078,2411,7311,0991,0554,464
Asset retirement obligations187183206222   
Deferred tax liabilities, net   3,285
Deferred income tax liabilities5,6386,2036,392
Liability, pension and other postretirement and postemployment benefits1,0152,1211,6431,5091,0991,0551,179
Other undisclosed noncurrent liabilities2,0862,0382,9345,9603,3204,465735
Total noncurrent liabilities:33,89439,27539,30234,67116,74116,06417,095
Total liabilities:51,79254,93855,44947,88727,21923,21023,440
Temporary equity, carrying amount9659689681,0041,0001,000 
Stockholders' equity
Stockholders' equity attributable to parent26,20622,19933,69435,17514,03313,55713,237
Common stock10101010777
Treasury stock, value(19,904)(15,157)(15,143)(13,175)(9,869)(7,482)(7,275)
Additional paid in capital33,26233,20833,15733,72911,26211,06011,071
Accumulated other comprehensive loss(67)(512)(320)(144)(231)(234)(318)
Retained earnings12,9054,65015,99014,75512,86410,2069,752
Stockholders' equity attributable to noncontrolling interest6,4107,0538,4458,8746,7956,6466,438
Total stockholders' equity:32,61629,25242,13944,04920,82820,20319,675
TOTAL LIABILITIES AND EQUITY:85,37385,15898,55692,94049,04744,41343,115

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues119,98369,779123,94995,75075,05363,517112
Revenue, net74,73363,339 
Other operating income468118163202320178112
Cost of revenue(114,114)(69,846)(114,939)(89,136)(69,667)(59,283)(65,997)
Cost of goods and services sold(110,008)(65,733)(110,243)(85,456)(66,519)(56,676)(63,645)
Gross profit:5,869(67)9,0106,6145,3864,234(65,885)
Operating expenses(2,516)(11,433)(4,298)(2,395)(1,733)(1,703)(1,569)
Other undisclosed operating income (loss)947(747)8641,352316(153)72,146
Operating income (loss):4,300(12,247)5,5765,5713,9692,3784,692
Interest and debt expense(1,483)(1,365)(1,247)(1,003)(625)(556)(318)
Income (loss) from continuing operations before income taxes:2,817(13,612)4,3294,5683,3441,8224,374
Income tax expense (benefit)(264)2,430(1,074)(962)460(609)(1,506)
Income (loss) before gain (loss) on sale of properties:2,553(11,182)3,2553,6063,8041,2132,868
Other undisclosed net income8,4481,205     
Net income (loss):11,001(9,977)3,2553,6063,8041,2132,868
Net income (loss) attributable to noncontrolling interest(1,263)151(618)(826)(372)(39)(16)
Net income (loss) attributable to parent:9,738(9,826)2,6372,7803,4321,1742,852
Undistributed earnings (loss) allocated to participating securities, basic(2)(1)(1)(1)(2)
Other undisclosed net loss available to common stockholders, basic     (1)(4)
Net income (loss) available to common stockholders, diluted:9,736(9,827)2,6362,7793,4301,1732,848

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):11,001(9,977)3,2553,6063,8041,2132,868
Other comprehensive income (loss)445(192)(176)87384(5)
Comprehensive income (loss):11,446(10,169)3,0793,6933,8071,2972,863
Comprehensive loss, net of tax, attributable to noncontrolling interest      (16)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1,263)151(618)(826)(372)(39) 
Comprehensive income (loss), net of tax, attributable to parent:10,183(10,018)2,4612,8673,4351,2582,847

Statements sources

The financial statements are based on the company's filings with the 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.

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