Stock Analysis on Net
Stock Analysis on Net

Marathon Petroleum Corp. (NYSE:MPC)

This company has been moved to the archive! The financial data has not been updated since November 5, 2024.

Common-Size Balance Sheet: Assets 
Quarterly Data

Marathon Petroleum Corp., common-size consolidated balance sheet: assets (quarterly data)

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Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Cash and cash equivalents 5.01 5.21 3.71 6.33 9.39 8.50 9.15 9.59 8.22 9.38 7.86 6.20 6.58 12.55 0.72 0.49 0.74 1.29 1.96 1.55 1.55 1.29 0.91
Short-term investments 1.43 4.76 5.14 5.56 5.12 4.75 4.01 3.50 4.19 4.38 3.79 6.50 8.23 5.75 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Receivables, less allowance for doubtful accounts 12.75 14.44 15.40 13.51 13.86 11.89 11.65 14.99 15.00 17.89 17.22 12.92 10.65 10.36 8.62 6.76 5.85 5.16 6.47 7.99 7.60 7.85 7.15
Inventories 12.38 11.50 11.44 10.84 11.27 11.03 11.80 9.82 10.96 11.42 10.43 9.44 10.31 9.42 9.70 9.39 8.81 9.56 8.63 10.39 9.88 9.38 10.20
Other current assets 0.93 0.87 0.86 1.13 0.67 1.10 0.72 1.30 0.96 0.77 0.71 0.67 2.44 2.85 3.11 3.20 2.62 1.31 1.13 0.54 0.47 0.47 0.57
Assets held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.00 12.89 13.37 13.17 0.00 0.00 0.00 0.00 0.00 0.00
Current assets 32.50% 36.78% 36.55% 37.37% 40.32% 37.27% 37.32% 39.20% 39.34% 43.84% 40.01% 35.72% 38.23% 40.92% 35.04% 33.22% 31.18% 17.31% 18.18% 20.47% 19.50% 18.99% 18.82%
Equity method investments 8.74 8.00 7.99 7.28 7.25 7.71 7.61 7.19 7.24 5.69 6.06 6.34 6.03 5.75 6.27 6.37 6.50 6.79 6.55 7.00 6.85 6.94 6.80
Property, plant and equipment, net 43.27 40.70 40.88 40.83 38.56 40.56 40.66 39.66 39.45 38.31 40.84 43.85 42.14 40.29 44.42 45.84 47.32 53.23 52.52 46.28 45.89 46.79 46.76
Goodwill 10.33 9.67 9.64 9.59 9.16 9.54 9.47 9.17 9.19 8.52 9.08 9.67 9.25 8.76 9.53 9.69 9.83 15.02 14.72 20.33 21.68 20.93 20.98
Operating lease right of use assets 1.49 1.39 1.47 1.43 1.46 1.49 1.46 1.35 1.34 1.32 1.46 1.61 1.59 1.59 1.75 1.79 1.95 2.90 2.97 2.50 2.57 2.67 2.78
Other noncurrent assets 3.67 3.45 3.48 3.50 3.26 3.44 3.47 3.43 3.44 2.31 2.55 2.81 2.76 2.69 2.99 3.10 3.22 4.75 5.05 3.42 3.51 3.69 3.86
Noncurrent assets 67.50% 63.22% 63.45% 62.63% 59.68% 62.73% 62.68% 60.80% 60.66% 56.16% 59.99% 64.28% 61.77% 59.08% 64.96% 66.78% 68.82% 82.69% 81.82% 79.53% 80.50% 81.01% 81.18%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Cash and cash equivalents
The proportion of cash and cash equivalents as a percentage of total assets showed a gradual increase starting from 0.91% in March 2019 with notable fluctuations. It peaked sharply at 12.55% in June 2021, followed by a decline and stabilization around 5-9% through 2024, indicating some variability in liquidity management.
Short-term investments
Short-term investments commenced reporting in June 2021 at 5.75%, rising to 8.23% in September 2021, then gradually declining to 1.43% by September 2024. This pattern suggests initial accumulation followed by gradual liquidation or reallocation of short-term investment assets.
Receivables, net
Receivables as a percentage of total assets fluctuated between approximately 5.16% and 17.89%. A decline was observed until mid-2020, after which there was a distinct increase, peaking at 17.89% in June 2022. More recent quarters show a downward adjustment, stabilizing near 12-15%, indicating shifts in credit sales or collection efficiency over the period.
Inventories
Inventory levels remained relatively stable as a percentage of total assets, generally oscillating around 9-12%. Some upward movement was noted in 2022 and early 2023, reaching as high as 12.38% in September 2024, which may reflect inventory build-up relative to total assets.
Other current assets
This category showed minor variations, initially low under 1%, with a peak at 3.2% in December 2019, followed by fluctuating values mostly below 1.5% in recent years. The small and inconsistent changes imply limited impact on overall current asset composition.
Assets held for sale
Data was sporadic, with a significant portion (~13%) reported in late 2020 but essentially absent in other periods. This indicates a temporary classification of assets for sale during that timeframe.
Current assets
The percentage of current assets to total assets rose substantially from 18.82% in Q1 2019 to a peak above 43% in mid-2022. Post-2022, the metric declined moderately to about 32.5% by late 2024, reflecting dynamic shifts between current and noncurrent classifications or changes in asset structure.
Equity method investments
Equity method investments maintained a relatively stable proportion of total assets, fluctuating narrowly between approximately 5.69% and 8.74%, showing no significant upward or downward trend but a slight increase towards the later periods.
Property, plant and equipment, net
This asset component decreased from 46-53% range in 2019-2020 down to roughly 38-43% during 2021-2024, with some fluctuations. This gradual reduction as a percentage of total assets suggests either asset disposals, impairments, or increased asset diversification.
Goodwill
Goodwill experienced a marked reduction from approximately 21% in early 2019 down to a low around 8.5-10% in subsequent years, maintaining a relatively stable level near 9-10% through 2023 and 2024. This decline may reflect impairments, divestitures, or revaluation adjustments.
Operating lease right of use assets
These assets steadily declined slightly from about 2.78% in Q1 2019 to approximately 1.3-1.5% in recent years, suggesting decreased lease asset recognition or lease term adjustments over the period.
Other noncurrent assets
The percentage of other noncurrent assets showed minor fluctuations but generally remained between 2.3% and 3.7%, indicating a stable contribution to total asset composition without significant trend changes.
Noncurrent assets
Noncurrent assets comprised the majority of total assets throughout the period, initially near 81%, dipping to a low around 56% in mid-2022, then recovering to near 67% by late 2024. This suggests shifts in asset classification, increased current assets proportion, or disposals affecting noncurrent asset balances.
Total assets
As expected, total assets sum to 100% each quarter, serving as the baseline for all percentage compositions analyzed.