Marathon Petroleum Corporation (MPC) Financial Statements (2024 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)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments11,7705,2914151,5271,6873,011
Cash and cash equivalents8,6255,2914151,5271,6873,011
Short-term investments3,145     
Receivables13,47711,0345,7607,8725,8534,695
Inventory, net of allowances, customer advances and progress billings8,8278,0557,99910,2439,8375,550
Inventory8,8278,0557,99910,2439,8375,550
Disposal group, including discontinued operation   11,389   
Other current assets1,1685682,724528646145
Other undisclosed current assets  5,548    
Total current assets:35,24230,49628,28720,17018,02313,401
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 406479  
Operating lease, right-of-use asset1,2141,3721,5212,459
Property, plant and equipment   39,03545,61545,05826,443
Long-term investments and receivables6,4665,4095,4226,8985,8984,787
Long-term investments6,4665,4095,4226,8985,8984,787
Intangible assets, net (including goodwill)10,12010,3918,25620,04020,1843,586
Goodwill8,2448,2568,25620,04020,1843,586
Intangible assets, net (excluding goodwill) 1,8762,135    
Other noncurrent assets3,0812,4002,6373,3743,777830
Other undisclosed noncurrent assets33,37534,826    
Total noncurrent assets:54,66254,87756,87178,38674,91735,646
TOTAL ASSETS:89,90485,37385,15898,55692,94049,047
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities17,41915,8429,64013,93511,9649,558
Taxes payable1,2311,1051,1861,446670
Employee-related liabilities9117321,1261,152591
Accounts payable15,31213,7007,80311,6239,3668,297
Accrued liabilities2,107     
Debt1,0665712,854711544624
Asset retirement obligation 27141424  
Disposal group, including discontinued operation   1,850   
Other liabilities1,1671,047822897708296
Other undisclosed current liabilities341424483580  
Total current liabilities:20,02017,89815,66316,14713,21610,478
Noncurrent Liabilities
Long-term debt and lease obligation, including:25,63424,96828,73028,12726,98012,322
Finance lease, liability 451525576 
Other undisclosed long-term debt and lease obligation25,18323,51627,14026,25226,98012,322
Liabilities, other than long-term debt8,0456,8408,5078,2411,7311,099
Asset retirement obligations 186187183206222 
Deferred income tax liabilities5,9045,6386,2036,392
Liability, pension and other postretirement and postemployment benefits1,1141,0152,1211,6431,5091,099
Operating lease, liability8419271,0141,875
Other undisclosed noncurrent liabilities1,1182,0862,0382,9345,9603,320
Total noncurrent liabilities:34,79733,89439,27539,30234,67116,741
Total liabilities:54,81751,79254,93855,44947,88727,219
Temporary equity, carrying amount9689659689681,0041,000
Equity
Equity, attributable to parent27,71526,20622,19933,69435,17514,033
Common stock10101010107
Treasury stock, value(31,841)(19,904)(15,157)(15,143)(13,175)(9,869)
Additional paid in capital33,40233,26233,20833,15733,72911,262
Accumulated other comprehensive income (loss)2(67)(512)(320)(144)(231)
Retained earnings26,14212,9054,65015,99014,75512,864
Equity, attributable to noncontrolling interest6,4046,4107,0538,4458,8746,795
Total equity:34,11932,61629,25242,13944,04920,828
TOTAL LIABILITIES AND EQUITY:89,90485,37385,15898,55692,94049,047

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues177,453119,98369,779123,94995,75075,053
Revenue, net74,733
Cost of revenue(156,772)(114,114)(69,846)(114,939)(89,136)(69,667)
Cost of goods and services sold(151,671)(110,008)(65,733)(110,243)(85,456)(66,519)
Gross profit:20,6815,869(67)9,0106,6145,386
Operating expenses(1,711)(2,516)(11,433)(4,298)(2,395)(1,733)
Other undisclosed operating income (loss)2,499947(747)8641,352316
Operating income (loss):21,4694,300(12,247)5,5765,5713,969
Interest and debt expense(1,000)(1,483)(1,365)(1,247)(1,003)(625)
Income (loss) from continuing operations before income taxes:20,4692,817(13,612)4,3294,5683,344
Income tax expense (benefit)(4,491)(264)2,430(1,074)(962)460
Income (loss) from continuing operations:15,9782,553(11,182)3,2553,6063,804
Income (loss) before gain (loss) on sale of properties:2,553(11,182)3,2553,6063,804
Other undisclosed net income728,4481,205   
Net income (loss):16,05011,001(9,977)3,2553,6063,804
Net income (loss) attributable to noncontrolling interest(1,534)(1,263)151(618)(826)(372)
Net income (loss) attributable to parent:14,5169,738(9,826)2,6372,7803,432
Preferred stock dividends and other adjustments      
Undistributed earnings (loss) allocated to participating securities, basic(8)(2)(1)(1)(1)(2)
Net income (loss) available to common stockholders, diluted:14,5089,736(9,827)2,6362,7793,430

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):16,05011,001(9,977)3,2553,6063,804
Other comprehensive income (loss)69445(192)(176)873
Comprehensive income (loss):16,11911,446(10,169)3,0793,6933,807
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1,534)(1,263)151(618)(826)(372)
Comprehensive income (loss), net of tax, attributable to parent:14,58510,183(10,018)2,4612,8673,435

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.

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