MPC FY 2011 Earnings Report — Marathon Petroleum Corporation Revenue & Financial Results | Market Cap Arena

Marathon Petroleum CorporationMPC

FY 2011 Earnings

Reported February 29, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$78.6B	—	$62.5B	—	25.8%
Op. Income	$3.7B	—	$1.0B	—	270.4%
Gross Margin	12.8%	—	11.6%	—	1.2pp
Net Margin	3.0%	—	1.0%	—	2.0pp
EPS (Diluted)	$3.34	—	$0.88	—	281.7%
Free Cash Flow	$2.1B	—	$1.0B	—	112.4%

Revenue Flow

Item	Amount
REVENUE	$78.6B
Cost of Revenue	$68.6B
GROSS PROFIT	$10.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$5.2B
Operating Expenses	$6.3B
Cost & Expenses	$74.9B
OPERATING INCOME	$3.7B
Interest Income	$3M
Interest Expense	$76M
Other Income/Expenses	-$26M
INCOME BEFORE TAX	$3.7B
Income Tax Expense	$1.3B
Net Income from Continuing Ops	$2.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.4B
D&A	$891M
EBIT	$3.8B
EBITDA	$4.7B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$78.6B
Cost of Revenue	$68.6B
GROSS PROFIT	$10.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$5.2B
Operating Expenses	$6.3B
Cost & Expenses	$74.9B
OPERATING INCOME	$3.7B
Interest Income	$3M
Interest Expense	$76M
Other Income/Expenses	-$26M
INCOME BEFORE TAX	$3.7B
Income Tax Expense	$1.3B
Net Income from Continuing Ops	$2.4B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.4B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.4B
D&A	$891M
EBIT	$3.8B
EBITDA	$4.7B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$2.4B
Depreciation & Amortization	$891M
Stock-Based Compensation	$0
Deferred Income Tax	$123M
Other Non-Cash Items	-$164M
Change in Working Capital	$70M
OPERATING CASH FLOW	$3.3B
Capital Expenditure	-$1.2B
Acquisitions (Net)	-$74M
Purchases of Investments	-$10.4B
Sales/Maturities of Investments	$12.8B
Other Investing Activities	$153M
NET CASH FROM INVESTING	$1.3B
Net Debt Issuance	-$641M
Common Stock Repurchased	$0
Common Dividends Paid	-$943M
Other Financing Activities	-$60M
NET CASH FROM FINANCING	-$1.6B
FREE CASH FLOW	$2.1B
Net Change in Cash	$3.0B

Balance Sheet

Item	Amount
Cash & Equivalents	$3.1B
Short-Term Investments	$0
Net Receivables	$5.5B
Inventory	$3.3B
Other Current Assets	$141M
TOTAL CURRENT ASSETS	$12.0B
PP&E (Net)	$12.2B
Goodwill	$842M
Intangible Assets	$0
Long-Term Investments	$302M
Tax Assets	$0
Other Non-Current Assets	$372M
TOTAL NON-CURRENT ASSETS	$13.7B
TOTAL ASSETS	$25.7B
Account Payables	$8.2B
Short-Term Debt	$15M
Deferred Revenue	$0
Other Current Liabilities	-$132M
TOTAL CURRENT LIABILITIES	$9.6B
Long-Term Debt	$3.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.3B
Other Non-Current Liabilities	$2.0B
TOTAL NON-CURRENT LIABILITIES	$6.6B
TOTAL LIABILITIES	$16.2B
Common Stock	$4M
Additional Paid-In Capital	$9.5B
Retained Earnings	$898M
Treasury Stock	$0
Accum. Other Comp. Income	-$879M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$9.5B
Minority Interest	$0
TOTAL EQUITY	$9.5B
TOTAL LIABILITIES & EQUITY	$25.7B
Total Debt	$3.3B
Net Debt	$228M