2012 Q4 Form 10-Q Financial Statement

#000119312512462694 Filed on November 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $20.69B $21.05B $20.62B
YoY Change 6.52% 2.1% 29.62%
Cost Of Revenue $18.86B $18.75B $18.34B
YoY Change -0.91% 2.24% 22.53%
Gross Profit $1.853B $2.325B $2.295B
YoY Change 365.58% 1.31% 144.41%
Gross Profit Margin 8.96% 11.05% 11.13%
Selling, General & Admin $380.0M $293.0M $299.0M
YoY Change 12.76% -2.01% 4.91%
% of Gross Profit 20.51% 12.6% 13.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $283.0M $246.0M $227.0M
YoY Change 23.04% 8.37% -2.99%
% of Gross Profit 15.27% 10.58% 9.89%
Operating Expenses $663.0M $293.0M $299.0M
YoY Change 16.93% -2.01% -42.39%
Operating Profit $1.189B $1.895B $1.852B
YoY Change -803.55% 2.32% 340.95%
Interest Expense -$45.00M -$25.00M $0.00
YoY Change 246.15% -100.0%
% of Operating Profit -3.78% -1.32% 0.0%
Other Income/Expense, Net -$25.00M $1.000M
YoY Change -2600.0%
Pretax Income $1.144B $1.870B $1.744B
YoY Change -735.56% 7.22% 297.27%
Income Tax $385.0M $646.0M $611.0M
% Of Pretax Income 33.65% 34.55% 35.03%
Net Earnings $755.0M $1.224B $1.133B
YoY Change -1106.67% 8.03% 309.03%
Net Earnings / Revenue 3.65% 5.82% 5.5%
Basic Earnings Per Share $2.26 $3.61 $3.18
Diluted Earnings Per Share $2.24 $3.59 $3.16
COMMON SHARES
Basic Shares Outstanding 339.2M shares 338.0M shares 356.0M shares
Diluted Shares Outstanding 340.0M shares 357.0M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.860B $3.387B $2.957B
YoY Change 57.84% 14.54%
Cash & Equivalents $4.860B $3.387B $2.957B
Short-Term Investments $0.00
Other Short-Term Assets $110.0M $139.0M $183.0M
YoY Change -21.99% -24.04%
Inventory $3.449B $3.889B $3.615B
Prepaid Expenses
Receivables $4.610B $5.101B $4.914B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $13.03B $12.52B $11.67B
YoY Change 8.57% 7.26%
LONG-TERM ASSETS
Property, Plant & Equipment $12.64B $12.53B $12.03B
YoY Change 3.39% 4.21%
Goodwill $930.0M $930.0M
YoY Change 10.45%
Intangibles
YoY Change
Long-Term Investments $321.0M $300.0M $321.0M
YoY Change 6.29% -6.54%
Other Assets $300.0M $305.0M $367.0M
YoY Change -19.35% -16.89%
Total Long-Term Assets $14.19B $14.07B $13.56B
YoY Change 3.27% 3.77%
TOTAL ASSETS
Total Short-Term Assets $13.03B $12.52B $11.67B
Total Long-Term Assets $14.19B $14.07B $13.56B
Total Assets $27.22B $26.58B $25.23B
YoY Change 5.74% 5.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.785B $6.951B $6.988B
YoY Change -17.14% -0.53%
Accrued Expenses $689.0M $551.0M $502.0M
YoY Change 6.16% 9.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $19.00M $20.00M $14.00M
YoY Change 26.67% 42.86%
Total Short-Term Liabilities $8.203B $8.308B $8.612B
YoY Change -14.47% -3.53%
LONG-TERM LIABILITIES
Long-Term Debt $3.342B $3.329B $3.285B
YoY Change 1.52% 1.34%
Other Long-Term Liabilities $1.523B $1.525B $1.806B
YoY Change -25.6% -15.56%
Total Long-Term Liabilities $4.865B $4.854B $5.091B
YoY Change -8.88% -4.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.203B $8.308B $8.612B
Total Long-Term Liabilities $4.865B $4.854B $5.091B
Total Liabilities $15.12B $15.12B $15.18B
YoY Change -6.91% -0.4%
SHAREHOLDERS EQUITY
Retained Earnings $3.880B $3.241B
YoY Change 332.07%
Common Stock $9.531B $9.567B
YoY Change 0.47%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.253B $852.0M
YoY Change
Treasury Stock Shares 28.00M shares 20.00M shares
Shareholders Equity $11.69B $11.47B $10.05B
YoY Change
Total Liabilities & Shareholders Equity $27.22B $26.58B $25.23B
YoY Change 5.74% 5.38%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $755.0M $1.224B $1.133B
YoY Change -1106.67% 8.03% 309.03%
Depreciation, Depletion And Amortization $283.0M $246.0M $227.0M
YoY Change 23.04% 8.37% -2.99%
Cash From Operating Activities $2.043B $1.833B $1.719B
YoY Change 220.22% 6.63% -34480.0%
INVESTING ACTIVITIES
Capital Expenditures -$403.0M -$331.0M -$327.0M
YoY Change 18.18% 1.22% 13.94%
Acquisitions
YoY Change
Other Investing Activities -$16.00M $96.00M $18.00M
YoY Change -1700.0% 433.33% -700.0%
Cash From Investing Activities -$419.0M -$235.0M -$309.0M
YoY Change 23.24% -23.95% 6.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -151.0M -106.0M -75.00M
YoY Change -14.2% 41.33% -129.07%
NET CHANGE
Cash From Operating Activities 2.043B 1.833B 1.719B
Cash From Investing Activities -419.0M -235.0M -309.0M
Cash From Financing Activities -151.0M -106.0M -75.00M
Net Change In Cash 1.473B 1.492B 1.335B
YoY Change 1107.38% 11.76% -3708.11%
FREE CASH FLOW
Cash From Operating Activities $2.043B $1.833B $1.719B
Capital Expenditures -$403.0M -$331.0M -$327.0M
Free Cash Flow $2.446B $2.164B $2.046B
YoY Change 149.85% 5.77% 625.53%

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dei Document Fiscal Year Focus
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dei Document Type
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dei Document Period End Date
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CY2011Q3 mpc Capital Expenditures Not Allocated To Segments
CapitalExpendituresNotAllocatedToSegments
3000000
CY2011Q3 mpc Consolidated Refined Product Sales Volumes
ConsolidatedRefinedProductSalesVolumes
1625 MBPD
CY2011Q3 mpc Payments To Acquire Investments In Equity Method Investee Only
PaymentsToAcquireInvestmentsInEquityMethodInvesteeOnly
CY2011Q3 mpc Elimination Of Revenues From Transactions With Other Operating Segments Of Same Entity
EliminationOfRevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
2403000000
CY2011Q3 mpc Segment Reporting Information Revenue Net Of Revenues From Transactions With Other Operating Segments Of Same Entity
SegmentReportingInformationRevenueNetOfRevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
20616000000
CY2011Q3 mpc Corporate And Other Unallocated Items Segment Revenue
CorporateAndOtherUnallocatedItemsSegmentRevenue
CY2011Q3 mpc Sales To Related Parties Calculated
SalesToRelatedPartiesCalculated
2000000
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6000000
CY2012Q3 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
84000000
CY2012Q3 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
240000000
CY2012Q3 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-1000000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
1224000000
CY2012Q3 us-gaap Revenues
Revenues
21048000000
CY2012Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-7000000
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
305000000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
646000000
CY2012Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1895000000
CY2012Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax
-9000000
CY2012Q3 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
175000000
CY2012Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2000000 shares
CY2012Q3 us-gaap Other Comprehensive Income Loss Amortization Pension And Other Postretirement Benefit Plans Net Prior Service Cost Recognized In Net Periodic Pension Cost Net Of Tax
OtherComprehensiveIncomeLossAmortizationPensionAndOtherPostretirementBenefitPlansNetPriorServiceCostRecognizedInNetPeriodicPensionCostNetOfTax
-17000000
CY2012Q3 us-gaap Other Operating Income
OtherOperatingIncome
18000000
CY2012Q3 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
1463000000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1819000000
CY2012Q3 us-gaap Other Comprehensive Income Amortization Of Defined Benefit Plan Net Prior Service Cost Recognized In Net Periodic Pension Cost Tax
OtherComprehensiveIncomeAmortizationOfDefinedBenefitPlanNetPriorServiceCostRecognizedInNetPeriodicPensionCostTax
10000000
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
8000000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.61
CY2012Q3 us-gaap Costs And Expenses
CostsAndExpenses
19354000000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.59
CY2012Q3 us-gaap Investment Income Nonoperating
InvestmentIncomeNonoperating
-26000000
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
340000000 shares
CY2012Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1232000000
CY2012Q3 us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
17190000000
CY2012Q3 us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
23535000000
CY2012Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-19000000
CY2012Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
49000000
CY2012Q3 us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
21047000000
CY2012Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Tax
OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodTax
-5000000
CY2012Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
84000000
CY2012Q3 us-gaap Additions To Noncurrent Assets
AdditionsToNoncurrentAssets
312000000
CY2012Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
29000000
CY2012Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7000000
CY2012Q3 us-gaap Revenues From Transactions With Other Operating Segments Of Same Entity
RevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
2485000000
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1222000000
CY2012Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
2000000
CY2012Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.35
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1870000000
CY2012Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
66000000
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1222000000
CY2012Q3 us-gaap Fair Value Assets Measured On Recurring Basis Gain Loss Included In Investment Income
FairValueAssetsMeasuredOnRecurringBasisGainLossIncludedInInvestmentIncome
0
CY2012Q3 mpc Total Revenues And Other Income
TotalRevenuesAndOtherIncome
21249000000
CY2012Q3 mpc Capital Expenditures Not Allocated To Segments
CapitalExpendituresNotAllocatedToSegments
19000000
CY2012Q3 mpc Consolidated Refined Product Sales Volumes
ConsolidatedRefinedProductSalesVolumes
1622 MBPD
CY2012Q3 mpc Interest And Other Financial Income From Related Parties
InterestAndOtherFinancialIncomeFromRelatedParties
1000000
CY2012Q3 mpc Additions To Noncurrent Assets Including Capital Accruals And Items Not Allocated To Segments
AdditionsToNoncurrentAssetsIncludingCapitalAccrualsAndItemsNotAllocatedToSegments
360000000
CY2012Q3 mpc Capital Expenditures Additions To Assets
CapitalExpendituresAdditionsToAssets
355000000
CY2012Q3 mpc Interest Income From Related Parties
InterestIncomeFromRelatedParties
1000000
CY2012Q3 mpc Elimination Of Revenues From Transactions With Other Operating Segments Of Same Entity
EliminationOfRevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
2485000000
CY2012Q3 mpc Segment Reporting Information Revenue Net Of Revenues From Transactions With Other Operating Segments Of Same Entity
SegmentReportingInformationRevenueNetOfRevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
21050000000
CY2012Q3 mpc Corporate And Other Unallocated Items Segment Revenue
CorporateAndOtherUnallocatedItemsSegmentRevenue
-1000000
CY2012Q3 mpc Payments To Acquire Investments In Equity Method Investee Only
PaymentsToAcquireInvestmentsInEquityMethodInvesteeOnly
5000000
CY2012Q3 mpc Sales To Related Parties Calculated
SalesToRelatedPartiesCalculated
2000000

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