Stock Analysis on Net
Stock Analysis on Net

Marathon Petroleum Corp. (NYSE:MPC)

$24.99

Analysis of Debt

Microsoft Excel

Paying users area

Try for free

Marathon Petroleum Corp. pages available for free this week:

The data is hidden behind: . Unhide it.

  • Get 1-month access to Marathon Petroleum Corp. for $24.99, or

  • get full access to the entire website for at least 3 months from $62.19.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Apple Pay Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Total Debt (Carrying Amount)

Marathon Petroleum Corp., balance sheet: debt

US$ in millions

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Debt due within one year
Long-term debt due after one year
Total debt (carrying amount)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Debt item Description The company
Total debt (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Marathon Petroleum Corp. total debt increased from 2021 to 2022 and from 2022 to 2023.

Total Debt (Fair Value)

Microsoft Excel
Dec 31, 2023
Selected Financial Data (US$ in millions)
Debt, excluding finance lease obligations
Marathon Petroleum Corporation finance lease obligations
MPLX LP finance lease obligations
Total debt (fair value)
Financial Ratio
Debt, fair value to carrying amount ratio

Based on: 10-K (reporting date: 2023-12-31).

Weighted-average Interest Rate on Debt

Weighted-average interest rate on debt:

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
Total

Based on: 10-K (reporting date: 2023-12-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × ÷ =

Interest Costs Incurred

Marathon Petroleum Corp., interest costs incurred

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Interest expense, net of interest capitalized
Interest capitalized
Interest expense

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Debt item Description The company
Interest expense, net of interest capitalized Amount of the cost of borrowed funds accounted for as interest expense for debt. Marathon Petroleum Corp. interest expense, net of interest capitalized decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.
Interest capitalized Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. Marathon Petroleum Corp. interest capitalized increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Interest expense Total interest costs incurred during the period and either capitalized or charged against earnings. Marathon Petroleum Corp. interest expense decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Adjusted Interest Coverage Ratio

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net income (loss) attributable to MPC
Add: Net income attributable to noncontrolling interest
Less: Income from discontinued operations, net of tax
Add: Income tax expense
Add: Interest expense, net of interest capitalized
Earnings before interest and tax (EBIT)
 
Interest expense
Financial Ratio With and Without Capitalized Interest
Interest coverage ratio (without capitalized interest)1
Adjusted interest coverage ratio (with capitalized interest)2

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

1 Interest coverage ratio (without capitalized interest) = EBIT ÷ Interest expense, net of interest capitalized
= ÷ =

2 Adjusted interest coverage ratio (with capitalized interest) = EBIT ÷ Interest expense
= ÷ =

Solvency ratio Description The company
Adjusted interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments (including capitalized interest). Marathon Petroleum Corp. adjusted interest coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.