MPC FY 2009 Earnings Report — Marathon Petroleum Corporation Revenue & Financial Results | Market Cap Arena

Marathon Petroleum CorporationMPC

FY 2009 Earnings

Reported December 30, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$45.6B	—	$65.3B	—	-30.1%
Op. Income	$654M	—	$1.9B	—	-64.7%
Gross Margin	16.0%	—	13.4%	—	2.7pp
Net Margin	1.0%	—	1.9%	—	-0.9pp
EPS (Diluted)	$0.63	—	$1.71	—	-63.0%
Free Cash Flow	-$436M	—	-$2.1B	—	79.3%

Revenue Flow

Item	Amount
REVENUE	$45.6B
Cost of Revenue	$38.3B
GROSS PROFIT	$7.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$842M
Other Expenses	$5.8B
Operating Expenses	$6.7B
Cost & Expenses	$45.0B
OPERATING INCOME	$654M
Interest Income	$3M
Interest Expense	$8M
Other Income/Expenses	$31M
INCOME BEFORE TAX	$685M
Income Tax Expense	$236M
Net Income from Continuing Ops	$449M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$449M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$449M
D&A	$670M
EBIT	$693M
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$45.6B
Cost of Revenue	$38.3B
GROSS PROFIT	$7.3B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$842M
Other Expenses	$5.8B
Operating Expenses	$6.7B
Cost & Expenses	$45.0B
OPERATING INCOME	$654M
Interest Income	$3M
Interest Expense	$8M
Other Income/Expenses	$31M
INCOME BEFORE TAX	$685M
Income Tax Expense	$236M
Net Income from Continuing Ops	$449M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$449M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$449M
D&A	$670M
EBIT	$693M
EBITDA	$1.4B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$449M
Depreciation & Amortization	$670M
Stock-Based Compensation	$0
Deferred Income Tax	$225M
Other Non-Cash Items	-$15M
Change in Working Capital	$1.1B
OPERATING CASH FLOW	$2.5B
Capital Expenditure	-$2.9B
Acquisitions (Net)	$0
Purchases of Investments	-$16.8B
Sales/Maturities of Investments	$16.9B
Other Investing Activities	$75M
NET CASH FROM INVESTING	-$2.6B
Net Debt Issuance	$2M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$207M
NET CASH FROM FINANCING	$209M
FREE CASH FLOW	-$436M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$128M
Short-Term Investments	$864M
Net Receivables	$3.5B
Inventory	$3.3B
Other Current Assets	$41M
TOTAL CURRENT ASSETS	$7.9B
PP&E (Net)	$11.9B
Goodwill	$872M
Intangible Assets	$0
Long-Term Investments	$365M
Tax Assets	$0
Other Non-Current Assets	$220M
TOTAL NON-CURRENT ASSETS	$13.4B
TOTAL ASSETS	$21.3B
Account Payables	$5.5B
Short-Term Debt	$11M
Deferred Revenue	$0
Other Current Liabilities	$394M
TOTAL CURRENT LIABILITIES	$6.6B
Long-Term Debt	$2.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.3B
Other Non-Current Liabilities	$1.6B
TOTAL NON-CURRENT LIABILITIES	$5.4B
TOTAL LIABILITIES	$12.1B
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	-$520M
Other Equity	$9.7B
TOTAL STOCKHOLDERS' EQUITY	$9.2B
Minority Interest	$0
TOTAL EQUITY	$9.2B
TOTAL LIABILITIES & EQUITY	$21.3B
Total Debt	$2.6B
Net Debt	$2.5B