Common-Size Balance Sheet: Assets
Marathon Oil Corp., common-size consolidated balance sheet: assets
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).
- Cash and cash equivalents
- There was an increase in the proportion of cash and cash equivalents from 2.56% in 2017 to a peak of 6.86% in 2018, followed by a gradual decline to 3.41% by the end of 2021. This indicates a temporary accumulation of liquid assets in 2018, which later diminished.
- Receivables, less reserve
- The percentage of receivables relative to total assets remained relatively stable from 2017 through 2019, ranging between approximately 4.9% to 5.5%. However, it decreased notably to 4.16% in 2020 before rising sharply to 6.72% in 2021, which may suggest increased credit sales or delayed collections in the most recent year.
- Notes receivable
- Notes receivable were present only in 2017 at 3.4% of total assets and disappeared from the subsequent years, indicating the company either settled or discontinued these receivables.
- Inventories
- Inventory levels remained relatively low and stable, fluctuating slightly between 0.36% and 0.57% over the five-year period, indicating consistent management of inventory relative to total assets.
- Other current assets
- These assets saw volatility, peaking at 1.21% in 2018 before declining sharply to 0.13% by 2021, reflecting a reduction in miscellaneous current assets over time.
- Current assets held for sale
- Current assets held for sale were minimal and present only in 2017 and 2018, peaking at 0.13%, and were not reported afterwards, implying asset sales or reclassification.
- Current assets
- The overall current assets percentage increased from 11.66% in 2017 to a high of 13.7% in 2018, then declined to 8.98% in 2020 before a slight recovery to 10.72% in 2021. This indicates a decline in short-term asset holdings during the middle years followed by a modest increase.
- Equity method investments
- The proportion of equity method investments continuously decreased from 3.85% in 2017 to 2.49% in 2020, with a slight increase to 2.65% in 2021, suggesting a gradual divestment or diminished valuation of such investments.
- Property, plant, and equipment (PP&E) less accumulated depreciation
- PP&E has consistently been the largest asset category, increasing as a percentage of total assets from 80.25% in 2017 to a peak of 87.09% in 2020 before slightly declining to 85.32% in 2021. This trend reflects ongoing capital investment and a heavy asset base in fixed assets.
- Finance lease right-of-use (ROU) assets
- A new line for finance lease ROU assets appeared only in 2021 at 0.16%, indicating the adoption or recognition of lease accounting standards during this period.
- Goodwill
- Goodwill was present at low levels (~0.5%) in 2017 through 2019, but data for 2020 and 2021 is missing, which may suggest impairment, disposal, or reclassification.
- Other noncurrent assets
- Other noncurrent assets showed a declining trend from 3.47% in 2017 to 1.15% in 2021, pointing to reduced long-term miscellaneous assets.
- Noncurrent assets held for sale
- Similar to current assets held for sale, noncurrent assets held for sale were present at low levels in 2017 and 2018 but were not reported in subsequent years, consistent with asset divestitures or completions.
- Noncurrent assets
- Noncurrent assets constituted the vast majority of total assets, ranging from 86.3% to 91.02% over the five years. The peak in 2020 aligns with the highest PP&E percentage, underscoring capital intensity, but there was a slight decline in 2021.
- Total assets
- Total assets consistently sum to 100%, serving as the benchmark for all proportional analyses.