Stock Analysis on Net
Stock Analysis on Net

Marathon Oil Corp. (NYSE:MRO)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 4, 2022.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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Marathon Oil Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Accounts payable
Payroll and benefits payable
Accrued taxes
Current portion of long-term finance lease liability
Other current liabilities
Long-term debt due within one year
Current liabilities held for sale
Current liabilities
Long-term debt, excluding due within one year
Deferred tax liabilities
Defined benefit postretirement plan obligations
Asset retirement obligations
Long-term finance lease liability, excluding current portion
Deferred credits and other liabilities
Noncurrent liabilities held for sale
Noncurrent liabilities
Total liabilities
Preferred stock, no par value; no shares issued or outstanding
Common stock, par value $1 per share
Common stock, held in treasury, at cost
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income (loss)
Stockholders’ equity
Total liabilities and stockholders’ equity

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).

Current liabilities
Current liabilities as a percentage of total liabilities and stockholders' equity experienced a decline from 8.94% in 2017 to a low of 6.76% in 2020, followed by a significant increase to 9.63% in 2021. Within current liabilities, accounts payable fluctuated modestly, declining from 6.34% in 2017 to 4.66% in 2020 before rebounding to 6.53% in 2021. Payroll and benefits payable similarly decreased between 2019 and 2020 but rose slightly in 2021. Accrued taxes declined consistently until 2020 but rose sharply in 2021, approaching previous levels.
Long-term and noncurrent liabilities
Long-term debt excluding the current portion showed a rising trend from 24.96% in 2017, peaking at 30.1% in 2020, before a notable reduction to 23.41% in 2021. Overall noncurrent liabilities decreased steadily from 37.87% in 2017 to 27.49% in 2021, indicating a reduction in obligations other than short-term ones. Asset retirement obligations decreased significantly from 6.49% in 2017 to around 1.69% in 2021, demonstrating a substantial decline in this liability category. Deferred tax liabilities and defined benefit postretirement plan obligations both showed decreasing trends over the period, each ending below 1% of total liabilities and equity in 2021.
Lease liabilities
Beginning in 2021, new disclosures appeared for finance lease liabilities including a small current portion (0.04%) and a noncurrent portion (0.14%), indicating recent lease-related obligations recorded on the balance sheet.
Other liabilities
Other current liabilities increased gradually from 1.31% in 2017 to 1.49% in 2021 after some fluctuation. Deferred credits and other liabilities declined from 0.99% in 2017 to 0.64% in 2021, suggesting reduced miscellaneous long-term obligations or reclassifications.
Total liabilities
Total liabilities declined steadily from 46.81% of total liabilities and stockholders’ equity in 2017 to 37.12% in 2021, indicating a reduction in the company’s leverage over the analyzed period.
Stockholders’ equity
Stockholders' equity increased consistently from 53.19% in 2017 to 62.88% in 2021, illustrating strengthening equity base and a shift from debt financing towards equity financing. Common stock showed a gradual rise in percentage terms, moving from 4.26% to 5.51%. Additional paid-in capital also rose from 33.52% to 42.49%, reflecting increased capital contributions or retained gains captured through paid-in surplus. Retained earnings grew from 30.8% in 2017 to a high of 42.79% in 2021, though it dipped slightly in 2020. Accumulated other comprehensive income (loss) stayed low but positive after 2017, increasing modestly to 0.48% by 2021. Treasury stock, recorded as a negative equity line, showed an increasing negative balance moving from -15.11% in 2017 to -28.39% in 2021, suggesting ongoing share repurchases or changes in treasury stock accounting.
Overall capital structure
The company's capital structure over the five years revealed a strategic reduction in overall liabilities, both current and noncurrent, and a strengthening of equity components. The increase in equity percentage and reduction in liabilities suggest improved financial stability or deleveraging efforts, while fluctuations in current liabilities and specific line items reveal adjustments in working capital management and short-term obligations.