MPC FY 2010 Earnings Report — Marathon Petroleum Corporation Revenue & Financial Results | Market Cap Arena

Marathon Petroleum CorporationMPC

FY 2010 Earnings

Reported December 30, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$62.5B	—	$45.6B	—	36.9%
Op. Income	$1.0B	—	$654M	—	54.6%
Gross Margin	11.6%	—	16.0%	—	-4.5pp
Net Margin	1.0%	—	1.0%	—	0.0pp
EPS (Diluted)	$0.88	—	$0.63	—	38.9%
Free Cash Flow	$1.0B	—	-$436M	—	329.4%

Revenue Flow

Item	Amount
REVENUE	$62.5B
Cost of Revenue	$55.3B
GROSS PROFIT	$7.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$874M
SG&A Expenses	$874M
Other Expenses	$5.3B
Operating Expenses	$6.2B
Cost & Expenses	$61.5B
OPERATING INCOME	$1.0B
Interest Income	$2M
Interest Expense	$7M
Other Income/Expenses	$12M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$400M
Net Income from Continuing Ops	$623M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$623M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$622M
D&A	$941M
EBIT	$1.0B
EBITDA	$2.0B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$62.5B
Cost of Revenue	$55.3B
GROSS PROFIT	$7.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$874M
SG&A Expenses	$874M
Other Expenses	$5.3B
Operating Expenses	$6.2B
Cost & Expenses	$61.5B
OPERATING INCOME	$1.0B
Interest Income	$2M
Interest Expense	$7M
Other Income/Expenses	$12M
INCOME BEFORE TAX	$1.0B
Income Tax Expense	$400M
Net Income from Continuing Ops	$623M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$623M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$622M
D&A	$941M
EBIT	$1.0B
EBITDA	$2.0B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$623M
Depreciation & Amortization	$941M
Stock-Based Compensation	$0
Deferred Income Tax	$308M
Other Non-Cash Items	$11M
Change in Working Capital	$334M
OPERATING CASH FLOW	$2.2B
Capital Expenditure	-$1.2B
Acquisitions (Net)	$0
Purchases of Investments	-$9.7B
Sales/Maturities of Investments	$8.0B
Other Investing Activities	$762M
NET CASH FROM INVESTING	-$2.1B
Net Debt Issuance	$1.2B
Common Stock Repurchased	$0
Common Dividends Paid	-$1.3B
Other Financing Activities	$0
NET CASH FROM FINANCING	-$82M
FREE CASH FLOW	$1.0B
Net Change in Cash	-$10M

Balance Sheet

Item	Amount
Cash & Equivalents	$118M
Short-Term Investments	$2.4B
Net Receivables	$4.4B
Inventory	$3.1B
Other Current Assets	$65M
TOTAL CURRENT ASSETS	$10.1B
PP&E (Net)	$11.7B
Goodwill	$837M
Intangible Assets	$0
Long-Term Investments	$312M
Tax Assets	$0
Other Non-Current Assets	$303M
TOTAL NON-CURRENT ASSETS	$13.2B
TOTAL ASSETS	$23.2B
Account Payables	$6.5B
Short-Term Debt	$666M
Deferred Revenue	$0
Other Current Liabilities	$608M
TOTAL CURRENT LIABILITIES	$8.6B
Long-Term Debt	$3.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.4B
Other Non-Current Liabilities	$1.8B
TOTAL NON-CURRENT LIABILITIES	$6.4B
TOTAL LIABILITIES	$15.0B
Common Stock	$0
Additional Paid-In Capital	$0
Retained Earnings	$0
Treasury Stock	$0
Accum. Other Comp. Income	-$623M
Other Equity	$8.9B
TOTAL STOCKHOLDERS' EQUITY	$8.2B
Minority Interest	$0
TOTAL EQUITY	$8.2B
TOTAL LIABILITIES & EQUITY	$23.2B
Total Debt	$3.9B
Net Debt	$3.8B