Analysis of Inventory
Inventory Disclosure
Marathon Oil Corp., balance sheet: inventory
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Crude oil and natural gas | 8) | 10) | 10) | 11) | 9) | ||||||
| Supplies and other items | 69) | 66) | 62) | 85) | 117) | ||||||
| Inventories | 77) | 76) | 72) | 96) | 126) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
Total inventory levels experienced a significant contraction between 2017 and 2019, followed by a period of relative stabilization through 2021. The total inventory balance decreased from 126 million USD in 2017 to a low of 72 million USD in 2019, before marginally increasing to 77 million USD by the end of 2021.
- Supplies and Other Items
- This component serves as the primary driver of the overall inventory trend. A substantial reduction is observed from 2017 to 2019, with values falling from 117 million USD to 62 million USD. Since 2019, this figure has remained relatively flat, ending the period at 69 million USD in 2021.
- Crude Oil and Natural Gas
- Inventories of crude oil and natural gas remained consistently low and stable throughout the analyzed period. Values fluctuated minimally between a high of 11 million USD in 2018 and a low of 8 million USD in 2021, indicating that these assets represent a small and steady fraction of the total inventory.
- Inventory Composition and Variance
- The variance in total inventory is almost exclusively attributable to the volatility in supplies and other items. The sharp downward trend observed in the first three years of the period suggests a significant reduction in operational stockpiles, while the stability observed from 2019 to 2021 indicates a normalized level of supply management.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?