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.

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Marathon Oil Corp., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Revenues from contracts with customers
Marketing revenues
Revenues
Net gain (loss) on commodity derivatives
Income (loss) from equity method investments
Net gain (loss) on disposal of assets
Other income
Revenues and other income
Production
Marketing, including purchases from related parties
Shipping, handling and other operating
Exploration
Depreciation, depletion and amortization
Impairments
Taxes other than income
General and administrative
Costs and expenses
Income (loss) from operations
Interest income
Interest expense
Gain on interest rate swaps
Interest
Net foreign currency gain
Other
Other
Net interest and other
Other net periodic benefit (costs) credits
Loss on early extinguishment of debt
Income (loss) before income taxes
(Provision) benefit for income taxes
Income (loss) from continuing operations
Loss from discontinued operations
Net income (loss)

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).

The financial data reveals several noteworthy trends in revenue, expenses, and profitability over the five-year period.

Revenues and Income
Revenues exhibited fluctuation, increasing from 4,373 million USD in 2017 to a peak of 5,902 million USD in 2018, followed by a decline to 3,097 million USD in 2020, and a subsequent rebound to 5,601 million USD in 2021. The total revenues and other income closely mirrored this pattern, peaking at 6,582 million USD in 2018, before dipping significantly in 2020 and recovering in 2021.
Income from equity method investments showed volatility, starting at 256 million USD in 2017, dropping to a loss of 161 million USD in 2020, and recovering strongly to 253 million USD in 2021. Net gains or losses on commodity derivatives fluctuated markedly, with notable losses in 2018, 2019, and 2021, but a sizable gain in 2020.
Costs and Expenses
Total costs and expenses decreased steadily from 4,898 million USD in 2017 to 4,159 million USD in 2021. Specific cost categories such as production and shipping, handling, and other operating expenses declined overall, though shipping costs increased slightly in 2021. Exploration costs showed a downward trend, reflecting reduced investment in exploration activities.
Depreciation, depletion, and amortization expenses declined significantly over the period, indicating possible asset aging or changes in asset base. Impairments fluctuated without a clear trend, peaking in 2020 at 144 million USD.
Taxes other than income increased in 2021 relative to prior years, reaching 345 million USD, which may suggest increased taxable activities or changes in tax regulations. General and administrative expenses decreased notably, suggesting increased cost control efforts.
Profitability and Operations
Income from operations exhibited large swings: a loss of 133 million USD in 2017, a strong profit of 1,667 million USD in 2018, followed by reduced profitability and losses in 2019 and 2020, before recovering to 1,308 million USD in 2021. This volatility highlights sensitivity to market and operational factors.
Interest expense gradually decreased over the period, from 377 million USD in 2017 to 257 million USD in 2021, indicating possible debt reduction or improved financing terms. Net interest and other expenses followed a similar downward trend.
Loss on early extinguishment of debt was sporadic, with significant losses in 2017 and 2021, potentially reflecting restructuring activities or refinancing costs.
Overall Income Performance
Income before income taxes showed high volatility, with positive results in 2018, 2019, and 2021, but significant losses in 2017 and 2020. Corresponding income tax provisions were generally negative, reflecting tax expenses, though 2019 and 2020 saw some benefit.
Net income followed a similar pattern, heavily impacted by a large loss from discontinued operations in 2017, leading to a net loss of 5,723 million USD that year. From 2018 onward, net income stabilized, with positive results in 2018, 2019, and 2021, but a substantial loss in 2020.