$MPC
Marathon Petroleum Corp

2023 Q4 Form 10-Q Financial Statement

#000151029523000078 Filed on October 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $36.73B $40.92B
YoY Change -8.41% -10.64%
Cost Of Revenue $32.58B $34.93B
YoY Change -2.96% -10.03%
Gross Profit $4.150B $5.989B
YoY Change -36.44% -14.03%
Gross Profit Margin 11.3% 14.64%
Selling, General & Admin $1.018B $824.0M
YoY Change 3.67% 15.73%
% of Gross Profit 24.53% 13.76%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $828.0M $845.0M
YoY Change 3.89% 6.42%
% of Gross Profit 19.95% 14.11%
Operating Expenses $1.846B $824.0M
YoY Change 3.77% 15.73%
Operating Profit $2.304B $4.753B
YoY Change -51.49% -28.91%
Interest Expense -$127.0M -$138.0M
YoY Change -35.53% -42.5%
% of Operating Profit -5.51% -2.9%
Other Income/Expense, Net $16.00M $20.00M
YoY Change 23.08% 400.0%
Pretax Income $2.284B $4.635B
YoY Change -49.84% -28.09%
Income Tax $407.0M $1.000B
% Of Pretax Income 17.82% 21.57%
Net Earnings $1.449B $3.280B
YoY Change -56.34% -26.74%
Net Earnings / Revenue 3.94% 8.02%
Basic Earnings Per Share $8.31
Diluted Earnings Per Share $3.87 $8.28
COMMON SHARES
Basic Shares Outstanding 379.7M shares 399.8M shares
Diluted Shares Outstanding 396.0M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.22B $13.06B
YoY Change -13.14% 17.25%
Cash & Equivalents $5.443B $8.452B
Short-Term Investments $4.781B $4.604B
Other Short-Term Assets $971.0M $607.0M
YoY Change -16.87% -29.25%
Inventory $9.317B $10.14B
Prepaid Expenses
Receivables $11.62B $12.47B
Other Receivables $0.00 $0.00
Total Short-Term Assets $32.13B $36.28B
YoY Change -8.83% 2.81%
LONG-TERM ASSETS
Property, Plant & Equipment $36.35B $36.00B
YoY Change -1.43% -1.6%
Goodwill $8.244B $8.244B
YoY Change 0.0% 0.0%
Intangibles $1.765B
YoY Change -5.92%
Long-Term Investments $6.260B $6.521B
YoY Change -3.19% 0.43%
Other Assets $3.007B $2.929B
YoY Change -2.4% -5.15%
Total Long-Term Assets $53.86B $53.69B
YoY Change -1.47% -1.31%
TOTAL ASSETS
Total Short-Term Assets $32.13B $36.28B
Total Long-Term Assets $53.86B $53.69B
Total Assets $85.99B $89.97B
YoY Change -4.36% 0.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.76B $15.84B
YoY Change -10.13% -5.05%
Accrued Expenses $1.885B $1.694B
YoY Change 41.2% 50.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.954B $819.0M
YoY Change 83.3% -23.03%
Total Short-Term Liabilities $20.15B $21.74B
YoY Change 0.65% 1.98%
LONG-TERM LIABILITIES
Long-Term Debt $25.33B $26.46B
YoY Change -1.19% 3.22%
Other Long-Term Liabilities $3.275B $3.160B
YoY Change 0.49% -5.87%
Total Long-Term Liabilities $28.60B $29.62B
YoY Change -1.0% 2.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.15B $21.74B
Total Long-Term Liabilities $28.60B $29.62B
Total Liabilities $54.59B $57.17B
YoY Change -0.42% 2.24%
SHAREHOLDERS EQUITY
Retained Earnings $34.56B $33.42B
YoY Change 32.21% 44.22%
Common Stock $33.48B $33.44B
YoY Change 0.19% 0.19%
Preferred Stock
YoY Change
Treasury Stock (at cost) $43.50B $40.95B
YoY Change 36.62% 36.2%
Treasury Stock Shares
Shareholders Equity $24.40B $25.86B
YoY Change
Total Liabilities & Shareholders Equity $85.99B $89.97B
YoY Change -4.36% 0.31%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $1.449B $3.280B
YoY Change -56.34% -26.74%
Depreciation, Depletion And Amortization $828.0M $845.0M
YoY Change 3.89% 6.42%
Cash From Operating Activities $1.123B $4.953B
YoY Change -74.37% 97.02%
INVESTING ACTIVITIES
Capital Expenditures $532.0M $420.0M
YoY Change -26.72% -159.91%
Acquisitions
YoY Change
Other Investing Activities -$432.0M -$15.00M
YoY Change -289.47% -101.25%
Cash From Investing Activities -$964.0M -$435.0M
YoY Change 93.57% -186.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.169B -3.411B
YoY Change 20.22% -27.66%
NET CHANGE
Cash From Operating Activities 1.123B 4.953B
Cash From Investing Activities -964.0M -435.0M
Cash From Financing Activities -3.169B -3.411B
Net Change In Cash -3.010B 1.107B
YoY Change -341.19% -165.12%
FREE CASH FLOW
Cash From Operating Activities $1.123B $4.953B
Capital Expenditures $532.0M $420.0M
Free Cash Flow $591.0M $4.533B
YoY Change -83.83% 41.0%

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These interim consolidated financial statements are unaudited; however, in the opinion of our management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal, recurring nature unless otherwise disclosed. These interim consolidated financial statements, including the notes, have been prepared in accordance with the rules of the SEC applicable to interim period financial statements and do not include all of the information and disclosures required by GAAP for complete financial statements. Certain information and disclosures derived from our audited annual financial statements, prepared in accordance with GAAP, have been condensed or omitted from these interim financial statements.
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