2011 Q4 Form 10-K Financial Statement

#000119312513084698 Filed on February 28, 2013

View on sec.gov

Income Statement

Concept 2011 Q4 2011 Q3 2011 Q2
Revenue $19.42B $20.62B $20.76B
YoY Change 11.33% 29.62% 31.35%
Cost Of Revenue $19.03B $18.34B $18.90B
YoY Change 14.82% 22.53% 29.22%
Gross Profit $398.0M $2.295B $1.869B
YoY Change -54.2% 144.41% 58.93%
Gross Profit Margin 2.05% 11.13% 9.0%
Selling, General & Admin $337.0M $299.0M $288.0M
YoY Change 6.31% 4.91% -1.03%
% of Gross Profit 84.67% 13.03% 15.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $230.0M $227.0M $218.0M
YoY Change 5.5% -2.99% -18.96%
% of Gross Profit 57.79% 9.89% 11.66%
Operating Expenses $567.0M $299.0M $288.0M
YoY Change 5.98% -42.39% -48.57%
Operating Profit -$169.0M $1.852B $1.394B
YoY Change -150.6% 340.95% 126.3%
Interest Expense -$13.00M $0.00 $42.00M
YoY Change -154.17% -100.0% 90.91%
% of Operating Profit 0.0% 3.01%
Other Income/Expense, Net $1.000M $3.000M
YoY Change
Pretax Income -$180.0M $1.744B $1.333B
YoY Change -149.86% 297.27% 108.28%
Income Tax -$105.0M $611.0M $531.0M
% Of Pretax Income 35.03% 39.83%
Net Earnings -$75.00M $1.133B $802.0M
YoY Change -132.61% 309.03% 98.02%
Net Earnings / Revenue -0.39% 5.5% 3.86%
Basic Earnings Per Share -$0.21 $3.18 $2.25
Diluted Earnings Per Share -$0.21 $3.16 $2.24
COMMON SHARES
Basic Shares Outstanding 356.0M shares 356.0M shares
Diluted Shares Outstanding 357.0M shares 358.0M shares

Balance Sheet

Concept 2011 Q4 2011 Q3 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.079B $2.957B $1.622B
YoY Change 22.09%
Cash & Equivalents $3.079B $2.957B $1.622B
Short-Term Investments $0.00 $0.00 $0.00
Other Short-Term Assets $141.0M $183.0M $170.0M
YoY Change 116.92%
Inventory $3.320B $3.615B $3.679B
Prepaid Expenses
Receivables $5.461B $4.914B $5.042B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $12.00B $11.67B $10.51B
YoY Change 19.34%
LONG-TERM ASSETS
Property, Plant & Equipment $12.23B $12.03B $11.94B
YoY Change 4.3%
Goodwill $842.0M
YoY Change 0.6%
Intangibles
YoY Change
Long-Term Investments $302.0M $321.0M $323.0M
YoY Change -3.21%
Other Assets $372.0M $367.0M $351.0M
YoY Change 22.77%
Total Long-Term Assets $13.74B $13.56B $13.45B
YoY Change 4.31%
TOTAL ASSETS
Total Short-Term Assets $12.00B $11.67B $10.51B
Total Long-Term Assets $13.74B $13.56B $13.45B
Total Assets $25.75B $25.23B $23.96B
YoY Change 10.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.189B $6.988B $7.329B
YoY Change 20.53%
Accrued Expenses $649.0M $502.0M $525.0M
YoY Change 17.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $15.00M $14.00M $12.00M
YoY Change -97.75%
Total Short-Term Liabilities $9.591B $8.612B $8.549B
YoY Change 11.26%
LONG-TERM LIABILITIES
Long-Term Debt $3.292B $3.285B $3.262B
YoY Change 1.89%
Other Long-Term Liabilities $2.047B $1.806B $1.793B
YoY Change 15.65%
Total Long-Term Liabilities $5.339B $5.091B $5.055B
YoY Change 6.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.591B $8.612B $8.549B
Total Long-Term Liabilities $5.339B $5.091B $5.055B
Total Liabilities $16.24B $15.18B $14.99B
YoY Change 8.35%
SHAREHOLDERS EQUITY
Retained Earnings $898.0M
YoY Change
Common Stock $9.486B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.505B $10.05B $8.977B
YoY Change
Total Liabilities & Shareholders Equity $25.75B $25.23B $23.96B
YoY Change 10.82%

Cashflow Statement

Concept 2011 Q4 2011 Q3 2011 Q2
OPERATING ACTIVITIES
Net Income -$75.00M $1.133B $802.0M
YoY Change -132.61% 309.03% 98.02%
Depreciation, Depletion And Amortization $230.0M $227.0M $218.0M
YoY Change 5.5% -2.99% -18.96%
Cash From Operating Activities $638.0M $1.719B $37.00M
YoY Change -66.89% -34480.0% -91.67%
INVESTING ACTIVITIES
Capital Expenditures -$341.0M -$327.0M -$274.0M
YoY Change 15.2% 13.94% -7.74%
Acquisitions
YoY Change
Other Investing Activities $1.000M $18.00M $2.702B
YoY Change -100.07% -700.0% 2602.0%
Cash From Investing Activities -$340.0M -$309.0M $2.428B
YoY Change -79.8% 6.55% -1332.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -176.0M -75.00M -1.062B
YoY Change -27.57% -129.07% 344.35%
NET CHANGE
Cash From Operating Activities 638.0M 1.719B 37.00M
Cash From Investing Activities -340.0M -309.0M 2.428B
Cash From Financing Activities -176.0M -75.00M -1.062B
Net Change In Cash 122.0M 1.335B 1.403B
YoY Change 12100.0% -3708.11% 17437.5%
FREE CASH FLOW
Cash From Operating Activities $638.0M $1.719B $37.00M
Capital Expenditures -$341.0M -$327.0M -$274.0M
Free Cash Flow $979.0M $2.046B $311.0M
YoY Change -55.96% 625.53% -58.03%

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CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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us-gaap Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options
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CY2010 us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
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CY2010 us-gaap Payments Of Distributions To Affiliates
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CY2010 us-gaap Profit Loss
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CY2010 us-gaap Repayments Of Related Party Debt
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CY2010 us-gaap Operating Income Loss
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CY2010 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2010 us-gaap Refining And Marketing Revenue
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CY2010 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
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CY2010 mpc Segment Reporting Information Revenue Net Of Revenues From Transactions With Other Operating Segments Of Same Entity
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CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2011 us-gaap Comprehensive Income Net Of Tax
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CY2011 us-gaap Current Federal Tax Expense Benefit
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CY2011 us-gaap Current State And Local Tax Expense Benefit
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CY2011 us-gaap Operating Leases Rent Expense Net
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CY2011 us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
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CY2011 us-gaap Excise And Sales Taxes
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CY2011 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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CY2011 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2011 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2011 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
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407000000
CY2012 us-gaap Fair Value Assets Measured On Recurring Basis Gain Loss Included In Investment Income
FairValueAssetsMeasuredOnRecurringBasisGainLossIncludedInInvestmentIncome
0
CY2012 mpc Contributions From Distributions To Former Parent Company Per Combined Statements Of Net Investment
ContributionsFromDistributionsToFormerParentCompanyPerCombinedStatementsOfNetInvestment
CY2012 mpc Consolidated Refined Product Sales Volumes
ConsolidatedRefinedProductSalesVolumes
1618 MBPD
CY2012 mpc Interest And Other Financial Income From Related Parties
InterestAndOtherFinancialIncomeFromRelatedParties
1000000
CY2012 mpc Maximum Duration Of Agreement For Administrative Services With Former Parent
MaximumDurationOfAgreementForAdministrativeServicesWithFormerParent
1 year
CY2012 mpc Number Of Companies Engaged In Crude Oil Or Refinery Feedstock Trading Agreement
NumberOfCompaniesEngagedInCrudeOilOrRefineryFeedstockTradingAgreement
80 Companies
CY2012 mpc Payments To Acquire Investments In Equity Method Investee Only
PaymentsToAcquireInvestmentsInEquityMethodInvesteeOnly
28000000
CY2012 mpc Capital Expenditures2
CapitalExpenditures2
1432000000
CY2012 mpc Payments To Acquire Businesses Excluding Inventories And Liabilities Assumed
PaymentsToAcquireBusinessesExcludingInventoriesAndLiabilitiesAssumed
180000000
CY2011Q1 us-gaap Profit Loss
ProfitLoss
529000000
CY2011Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
819000000
CY2011Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.49
CY2011Q1 us-gaap Net Income Loss
NetIncomeLoss
529000000
CY2011Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.48
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.24
CY2011Q1 us-gaap Revenues
Revenues
17842000000
CY2011Q2 us-gaap Revenues
Revenues
20760000000
CY2011Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.00
CY2012 mpc Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Per Share
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendPerShare
1.00
CY2012 mpc Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Company Stock Weighting
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateCompanyStockWeighting
0.25 pure
CY2012 mpc Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Peer Stock Weighting
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRatePeerStockWeighting
0.75 pure
CY2012 mpc Spin Off Transaction Separation Distribution Agreement Date
SpinOffTransactionSeparationDistributionAgreementDate
2011-05-25
CY2012 mpc Stock Spin Off Conversion Ratio
StockSpinOffConversionRatio
0.50 pure
CY2012 mpc Capital Expenditures
CapitalExpenditures
1432000000
CY2012 mpc Interest Income From Related Parties
InterestIncomeFromRelatedParties
1000000
CY2012 mpc Segment Reporting Information Revenue Net Of Revenues From Transactions With Other Operating Segments Of Same Entity
SegmentReportingInformationRevenueNetOfRevenuesFromTransactionsWithOtherOperatingSegmentsOfSameEntity
82245000000
CY2012 mpc Corporate And Other Unallocated Items Segment Revenue
CorporateAndOtherUnallocatedItemsSegmentRevenue
-2000000
CY2012 mpc Noncash Dividend Received
NoncashDividendReceived
1000000
CY2012 mpc Contribution For Funding Settlement In Recognition Of Waiver Of Cash Or Equity Compensation
ContributionForFundingSettlementInRecognitionOfWaiverOfCashOrEquityCompensation
45000000
CY2011Q3 us-gaap Revenues
Revenues
20616000000
CY2011Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.00
CY2011Q2 us-gaap Profit Loss
ProfitLoss
802000000
CY2011Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1325000000
CY2011Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.20
CY2012Q3 us-gaap Profit Loss
ProfitLoss
1224000000
CY2012 mpc Related Party Tax Payments
RelatedPartyTaxPayments
181000000
CY2012 mpc Accounts Receivable Number Of Days Past Due Evaluated For Doubtful Account
AccountsReceivableNumberOfDaysPastDueEvaluatedForDoubtfulAccount
P180D
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.25
CY2011Q2 us-gaap Net Income Loss
NetIncomeLoss
802000000
CY2012Q1 us-gaap Profit Loss
ProfitLoss
596000000
CY2012Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
956000000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.71
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
596000000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.70
CY2012Q1 us-gaap Revenues
Revenues
20265000000
CY2012Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.25
CY2012Q2 us-gaap Profit Loss
ProfitLoss
814000000
CY2012Q2 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1307000000
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.39
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
814000000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.38
CY2012Q2 us-gaap Revenues
Revenues
20243000000
CY2012Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.25
CY2011Q3 us-gaap Profit Loss
ProfitLoss
1133000000
CY2011Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1759000000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.18
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
1133000000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.16
CY2011Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-158000000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
CY2012Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1895000000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.61
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
-75000000
CY2011Q4 us-gaap Revenues
Revenues
19420000000
CY2011Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.25
CY2012Q4 us-gaap Profit Loss
ProfitLoss
759000000
CY2012Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
1189000000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.24
CY2012Q4 us-gaap Revenues
Revenues
20686000000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
1224000000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.59
CY2012Q3 us-gaap Revenues
Revenues
21049000000
CY2012Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.35
CY2011Q4 us-gaap Profit Loss
ProfitLoss
-75000000
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
755000000
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.26
CY2012Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.35

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