Analysis of Reportable Segments
Marathon Oil Corp. operates in 2 segments: United States (U.S.) and International (Int’l).
Segment Profit Margin
Marathon Oil Corp., profit margin by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| United States (U.S.) | 23.94% | -18.91% | 14.67% | 12.44% | -4.78% |
| International (Int’l) | 118.73% | 17.34% | 50.54% | 46.56% | 32.41% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | United States (U.S.) | United States (U.S.) segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| International (Int’l) | International (Int’l) segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Profit Margin: United States (U.S.)
Marathon Oil Corp.; United States (U.S.); segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income (loss) | 1,277 | (553) | 675 | 608 | (148) |
| Revenues from contracts with customers | 5,334 | 2,924 | 4,602 | 4,886 | 3,093 |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 23.94% | -18.91% | 14.67% | 12.44% | -4.78% |
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).
1 2021 Calculation
Segment profit margin = 100 × Segment income (loss) ÷ Revenues from contracts with customers
= 100 × 1,277 ÷ 5,334 = 23.94%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | United States (U.S.) | United States (U.S.) segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Profit Margin: International (Int’l)
Marathon Oil Corp.; International (Int’l); segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income (loss) | 317 | 30 | 233 | 473 | 374 |
| Revenues from contracts with customers | 267 | 173 | 461 | 1,016 | 1,154 |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 118.73% | 17.34% | 50.54% | 46.56% | 32.41% |
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).
1 2021 Calculation
Segment profit margin = 100 × Segment income (loss) ÷ Revenues from contracts with customers
= 100 × 317 ÷ 267 = 118.73%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | International (Int’l) | International (Int’l) segment profit margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Return on Assets (Segment ROA)
Marathon Oil Corp., ROA by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| United States (U.S.) | 8.33% | -3.44% | 3.80% | 3.51% | -0.88% |
| International (Int’l) | 31.89% | 2.78% | 15.23% | 22.71% | 8.90% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | United States (U.S.) | United States (U.S.) segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| International (Int’l) | International (Int’l) segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment ROA: United States (U.S.)
Marathon Oil Corp.; United States (U.S.); segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income (loss) | 1,277 | (553) | 675 | 608 | (148) |
| Total assets | 15,339 | 16,063 | 17,781 | 17,321 | 16,863 |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 8.33% | -3.44% | 3.80% | 3.51% | -0.88% |
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).
1 2021 Calculation
Segment ROA = 100 × Segment income (loss) ÷ Total assets
= 100 × 1,277 ÷ 15,339 = 8.33%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | United States (U.S.) | United States (U.S.) segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment ROA: International (Int’l)
Marathon Oil Corp.; International (Int’l); segment ROA calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Segment income (loss) | 317 | 30 | 233 | 473 | 374 |
| Total assets | 994 | 1,081 | 1,530 | 2,083 | 4,201 |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 31.89% | 2.78% | 15.23% | 22.71% | 8.90% |
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).
1 2021 Calculation
Segment ROA = 100 × Segment income (loss) ÷ Total assets
= 100 × 317 ÷ 994 = 31.89%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | International (Int’l) | International (Int’l) segment ROA deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Asset Turnover
Marathon Oil Corp., asset turnover by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| United States (U.S.) | 0.35 | 0.18 | 0.26 | 0.28 | 0.18 |
| International (Int’l) | 0.27 | 0.16 | 0.30 | 0.49 | 0.27 |
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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | United States (U.S.) | United States (U.S.) segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
| International (Int’l) | International (Int’l) segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Segment Asset Turnover: United States (U.S.)
Marathon Oil Corp.; United States (U.S.); segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues from contracts with customers | 5,334 | 2,924 | 4,602 | 4,886 | 3,093 |
| Total assets | 15,339 | 16,063 | 17,781 | 17,321 | 16,863 |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.35 | 0.18 | 0.26 | 0.28 | 0.18 |
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).
1 2021 Calculation
Segment asset turnover = Revenues from contracts with customers ÷ Total assets
= 5,334 ÷ 15,339 = 0.35
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | United States (U.S.) | United States (U.S.) segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level. |
Segment Asset Turnover: International (Int’l)
Marathon Oil Corp.; International (Int’l); segment asset turnover calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Revenues from contracts with customers | 267 | 173 | 461 | 1,016 | 1,154 |
| Total assets | 994 | 1,081 | 1,530 | 2,083 | 4,201 |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.27 | 0.16 | 0.30 | 0.49 | 0.27 |
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).
1 2021 Calculation
Segment asset turnover = Revenues from contracts with customers ÷ Total assets
= 267 ÷ 994 = 0.27
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | International (Int’l) | International (Int’l) segment asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level. |
Segment Capital Expenditures to Depreciation
Marathon Oil Corp., capital expenditures to depreciation by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| United States (U.S.) | 0.52 | 0.51 | 1.13 | 1.18 | 1.03 |
| International (Int’l) | 0.00 | 0.01 | 0.13 | 0.20 | 0.13 |
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).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | United States (U.S.) | United States (U.S.) segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
| International (Int’l) | International (Int’l) segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Capital Expenditures to Depreciation: United States (U.S.)
Marathon Oil Corp.; United States (U.S.); segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 1,018 | 1,137 | 2,550 | 2,620 | 2,081 |
| Depreciation, depletion and amortization | 1,972 | 2,211 | 2,250 | 2,217 | 2,011 |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.52 | 0.51 | 1.13 | 1.18 | 1.03 |
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).
1 2021 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion and amortization
= 1,018 ÷ 1,972 = 0.52
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | United States (U.S.) | United States (U.S.) segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 but then slightly improved from 2020 to 2021. |
Segment Capital Expenditures to Depreciation: International (Int’l)
Marathon Oil Corp.; International (Int’l); segment capital expenditures to depreciation calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | — | 1 | 16 | 39 | 42 |
| Depreciation, depletion and amortization | 68 | 82 | 121 | 197 | 328 |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.00 | 0.01 | 0.13 | 0.20 | 0.13 |
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).
1 2021 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, depletion and amortization
= 0 ÷ 68 = 0.00
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | International (Int’l) | International (Int’l) segment capital expenditures to depreciation ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Revenues from contracts with customers
Marathon Oil Corp., revenues from contracts with customers by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| United States (U.S.) | 5,334 | 2,924 | 4,602 | 4,886 | 3,093 |
| International (Int’l) | 267 | 173 | 461 | 1,016 | 1,154 |
| Total | 5,601 | 3,097 | 5,063 | 5,902 | 4,247 |
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).
Depreciation, depletion and amortization
Marathon Oil Corp., depreciation, depletion and amortization by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| United States (U.S.) | 1,972 | 2,211 | 2,250 | 2,217 | 2,011 |
| International (Int’l) | 68 | 82 | 121 | 197 | 328 |
| Not allocated to segments | 26 | 23 | 26 | 27 | 33 |
| Total | 2,066 | 2,316 | 2,397 | 2,441 | 2,372 |
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).
Segment income (loss)
Marathon Oil Corp., segment income (loss) by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| United States (U.S.) | 1,277 | (553) | 675 | 608 | (148) |
| International (Int’l) | 317 | 30 | 233 | 473 | 374 |
| Not allocated to segments | (648) | (928) | (428) | 15 | (1,056) |
| Total | 946 | (1,451) | 480 | 1,096 | (830) |
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 assets
Marathon Oil Corp., total assets by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| United States (U.S.) | 15,339 | 16,063 | 17,781 | 17,321 | 16,863 |
| International (Int’l) | 994 | 1,081 | 1,530 | 2,083 | 4,201 |
| Not allocated to segments | 661 | 812 | 934 | 1,917 | 948 |
| Total | 16,994 | 17,956 | 20,245 | 21,321 | 22,012 |
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).
Capital expenditures
Marathon Oil Corp., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| United States (U.S.) | 1,018 | 1,137 | 2,550 | 2,620 | 2,081 |
| International (Int’l) | — | 1 | 16 | 39 | 42 |
| Not allocated to segments | 14 | 13 | 25 | 26 | 27 |
| Total | 1,032 | 1,151 | 2,591 | 2,685 | 2,150 |
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).