Marathon Petroleum Corporation (MPC) financial statements (2021 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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,5271,6873,0118871,1271,4942,292
Cash and cash equivalents1,5271,6873,0118871,1271,4942,292
Receivables7,8725,8534,6953,6172,9274,0655,561
Inventory, net of allowances, customer advances and progress billings10,2439,8375,5505,6565,2255,6424,689
Inventory10,2439,8375,5505,6565,2255,6424,689
Other current assets528646145241192145197
Other undisclosed current assets     (7)(2)
Total current assets:20,17018,02313,40110,4019,47111,33912,737
Noncurrent Assets
Operating lease, right-of-use asset2,459
Property, plant and equipment45,61545,05826,44325,76525,16416,26113,921
Long-term investments and receivables6,8985,8984,7873,8273,622865463
Long-term investments6,8985,8984,7873,8273,622865463
Intangible assets, net (including goodwill)20,04020,1843,5863,5874,0191,566938
Goodwill20,04020,1843,5863,5874,0191,566938
Other noncurrent assets3,3743,777830833839429326
Total noncurrent assets:78,38674,91735,64634,01233,64419,12115,648
TOTAL ASSETS:98,55692,94049,04744,41343,11530,46028,385
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities13,93511,9649,5586,7405,8908,1989,526
Accounts payable11,6239,3668,2975,5934,7436,6618,234
Employee-related liabilities1,1261,152591530503427406
Taxes payable1,1861,4466706176441,110886
Debt71154462428292723
Asset retirement obligation24      
Due to related parties     1816
Other liabilities897708296378426354275
Other undisclosed current liabilities580    (18)(16)
Total current liabilities:16,14713,21610,4787,1466,3458,5799,824
Noncurrent Liabilities
Long-term debt and lease obligation, including:28,12726,98012,32210,54411,8966,6103,373
Operating lease, liability1,875
Other undisclosed long-term debt and lease obligation26,25226,98012,32210,54411,8966,6103,373
Liabilities, other than long-term debt8,2411,7311,0991,0554,4643,1133,075
Pension and other postretirement defined benefit plans, liabilities771
Asset retirement obligations206222     
Deferred tax liabilities, net   3,2852,0142,304
Deferred income tax liabilities6,392
Liability, pension and other postretirement and postemployment benefits1,6431,5091,0991,0551,1791,099
Other undisclosed noncurrent liabilities2,9345,9603,3204,465735768781
Total noncurrent liabilities:39,30234,67116,74116,06417,09510,4917,229
Total liabilities:55,44947,88727,21923,21023,44019,07017,053
Temporary equity, carrying amount9681,0041,0001,000   
Stockholders' equity
Stockholders' equity attributable to parent33,69435,17514,03313,55713,23710,75110,920
Common stock101077744
Treasury stock, value(15,143)(13,175)(9,869)(7,482)(7,275)(6,299)(4,155)
Additional paid in capital33,15733,72911,26211,06011,0719,8449,768
Accumulated other comprehensive loss(320)(144)(231)(234)(318)(313)(204)
Retained earnings15,99014,75512,86410,2069,7527,5155,507
Stockholders' equity attributable to noncontrolling interest8,4458,8746,7956,6466,438639412
Total stockholders' equity:42,13944,04920,82820,20319,67511,39011,332
TOTAL LIABILITIES AND EQUITY:98,55692,94049,04744,41343,11530,46028,385

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues123,94995,75075,05363,51711297,928100,160
Revenue, net74,73363,339 97,817100,160
Other operating income16320232017811211152
Cost of revenue(114,939)(89,136)(69,667)(59,283)(65,997)(92,697)(95,587)
Cost of goods and services sold(110,243)(85,456)(66,519)(56,676)(63,645)(90,455)(93,664)
Gross profit:9,0106,6145,3864,234(65,885)5,2314,573
Operating expenses(4,298)(2,395)(1,733)(1,703)(1,569)(1,354)(1,242)
Other undisclosed operating income (loss)8641,352316(153)72,14617494
Operating income:5,5765,5713,9692,3784,6924,0513,425
Nonoperating income (expense)     7(179)
Investment income, nonoperating     79
Interest and debt expense(1,247)(1,003)(625)(556)(318)(216)(195)
Income from continuing operations before equity method investments, income taxes:4,3294,5683,3441,8224,3743,8423,051
Income from equity method investments     15336
Other undisclosed income (loss) from continuing operations before income taxes     (160)159
Income from continuing operations before income taxes:4,3294,5683,3441,8224,3743,8353,246
Income tax expense (benefit)(1,074)(962)460(609)(1,506)(1,280)(1,113)
Net income:3,2553,6063,8041,2132,8682,5552,133
Net loss attributable to noncontrolling interest(618)(826)(372)(39)(16)(31)(21)
Net income attributable to parent:2,6372,7803,4321,1742,8522,5242,112
Undistributed earnings (loss) allocated to participating securities, basic(1)(1)(2)
Other undisclosed net loss available to common stockholders, basic   (1)(4)(4)(4)
Net income available to common stockholders, diluted:2,6362,7793,4301,1732,8482,5202,108

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:3,2553,6063,8041,2132,8682,5552,133
Other comprehensive income (loss)(176)87384(5)(109)260
Comprehensive income:3,0793,6933,8071,2972,8632,4462,393
Comprehensive income (loss), net of tax, attributable to noncontrolling interest    (16)(31)21
Other undisclosed comprehensive loss, net of tax, attributable to parent(618)(826)(372)(39)  (42)
Comprehensive income, net of tax, attributable to parent:2,4612,8673,4351,2582,8472,4152,372

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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