$MPC
Marathon Petroleum Corp

2024 Q3 Form 10-Q Financial Statement

#000151029524000068 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $35.11B $37.91B
YoY Change -14.2% 4.32%
Cost Of Revenue $32.14B $33.95B
YoY Change -7.97% 6.87%
Gross Profit $2.963B $3.969B
YoY Change -50.53% -13.36%
Gross Profit Margin 8.44% 10.47%
Selling, General & Admin $815.0M $823.0M
YoY Change -1.09% 16.9%
% of Gross Profit 27.51% 20.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $846.0M $838.0M
YoY Change 0.12% 0.48%
% of Gross Profit 28.55% 21.11%
Operating Expenses $815.0M $823.0M
YoY Change -1.09% 16.9%
Operating Profit $1.349B $2.522B
YoY Change -71.62% -23.69%
Interest Expense -$215.0M -$192.0M
YoY Change 55.8% 15.66%
% of Operating Profit -15.94% -7.61%
Other Income/Expense, Net -$6.000M -$2.000M
YoY Change -130.0% -108.33%
Pretax Income $1.128B $2.328B
YoY Change -75.66% -26.4%
Income Tax $113.0M $373.0M
% Of Pretax Income 10.02% 16.02%
Net Earnings $622.0M $1.515B
YoY Change -81.04% -31.94%
Net Earnings / Revenue 1.77% 4.0%
Basic Earnings Per Share $1.88 $4.34
Diluted Earnings Per Share $1.87 $4.33
COMMON SHARES
Basic Shares Outstanding 334.7M shares 352.3M shares
Diluted Shares Outstanding 332.0M shares 350.0M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.143B $8.499B
YoY Change -60.61% -25.8%
Cash & Equivalents $4.002B $4.441B
Short-Term Investments $1.141B $4.058B
Other Short-Term Assets $740.0M $741.0M
YoY Change 21.91% -21.92%
Inventory $9.886B $9.800B
Prepaid Expenses
Receivables $10.18B $12.31B
Other Receivables $0.00 $0.00
Total Short-Term Assets $25.95B $31.35B
YoY Change -28.47% -2.69%
LONG-TERM ASSETS
Property, Plant & Equipment $35.73B $35.87B
YoY Change -0.74% -1.3%
Goodwill $8.244B $8.244B
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments $6.976B $6.821B
YoY Change 6.98% 2.34%
Other Assets $2.930B $2.944B
YoY Change 0.03% -0.98%
Total Long-Term Assets $53.88B $53.88B
YoY Change 0.35% -0.64%
TOTAL ASSETS
Total Short-Term Assets $25.95B $31.35B
Total Long-Term Assets $53.88B $53.88B
Total Assets $79.83B $85.23B
YoY Change -11.27% -1.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.76B $14.87B
YoY Change -19.42% 13.89%
Accrued Expenses $1.742B $1.555B
YoY Change 2.83% 37.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.167B $4.903B
YoY Change 408.79% 6709.72%
Total Short-Term Liabilities $21.07B $24.00B
YoY Change -3.07% 37.41%
LONG-TERM LIABILITIES
Long-Term Debt $24.05B $24.03B
YoY Change -9.11% -11.68%
Other Long-Term Liabilities $3.234B $3.297B
YoY Change 2.34% 0.4%
Total Long-Term Liabilities $27.29B $27.33B
YoY Change -7.89% -10.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.07B $24.00B
Total Long-Term Liabilities $27.29B $27.33B
Total Liabilities $54.12B $57.14B
YoY Change -5.33% 6.06%
SHAREHOLDERS EQUITY
Retained Earnings $36.77B $36.42B
YoY Change 10.01% 19.65%
Common Stock $33.64B $33.65B
YoY Change 0.61% 0.67%
Preferred Stock
YoY Change
Treasury Stock (at cost) $51.32B $48.59B
YoY Change 25.33% 27.47%
Treasury Stock Shares
Shareholders Equity $18.93B $21.32B
YoY Change
Total Liabilities & Shareholders Equity $79.83B $85.23B
YoY Change -11.27% -1.4%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $622.0M $1.515B
YoY Change -81.04% -31.94%
Depreciation, Depletion And Amortization $846.0M $838.0M
YoY Change 0.12% 0.48%
Cash From Operating Activities $1.684B $3.242B
YoY Change -66.0% -18.62%
INVESTING ACTIVITIES
Capital Expenditures $651.0M $487.0M
YoY Change 55.0% 1.25%
Acquisitions
YoY Change
Other Investing Activities $2.685B $504.0M
YoY Change -18000.0% -226.32%
Cash From Investing Activities $2.034B $17.00M
YoY Change -567.59% -101.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -4.157B -1.993B
YoY Change 21.87% -46.42%
NET CHANGE
Cash From Operating Activities 1.684B 3.242B
Cash From Investing Activities 2.034B 17.00M
Cash From Financing Activities -4.157B -1.993B
Net Change In Cash -439.0M 1.266B
YoY Change -139.66% -305.52%
FREE CASH FLOW
Cash From Operating Activities $1.684B $3.242B
Capital Expenditures $651.0M $487.0M
Free Cash Flow $1.033B $2.755B
YoY Change -77.21% -21.35%

Facts In Submission

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<div style="margin-bottom:9pt;margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">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.</span></div>
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