Stock Analysis on Net
Stock Analysis on Net

Marathon Petroleum Corp. (NYSE:MPC)

Common-Size Income Statement

Marathon Petroleum Corp., common-size consolidated income statement

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Sales and other operating revenues 100.00 100.00 100.00 100.00 100.00
Cost of revenues -86.65 -85.47 -91.69 -94.20 -88.94
Gross margin 13.35% 14.53% 8.31% 5.80% 11.06%
Income (loss) from equity method investments 0.50 0.37 0.38 -1.34 0.32
Net gain on disposal of assets 0.15 0.60 0.02 0.10 0.25
Other income 0.65 0.44 0.39 0.17 0.13
Impairment expense 0.00 0.00 0.00 -12.08 -0.97
Depreciation and amortization -2.23 -1.81 -2.80 -4.84 -2.94
Selling, general and administrative expenses -2.05 -1.56 -2.11 -3.88 -2.75
Restructuring expenses 0.00 0.00 0.00 -0.53 0.00
Other taxes -0.59 -0.46 -0.60 -0.96 -0.61
Income (loss) from operations 9.78% 12.10% 3.58% -17.55% 4.50%
Interest income 0.36 0.11 0.01 0.01 0.03
Interest expense, net of interest capitalized -0.85 -0.67 -1.06 -1.91 -1.00
Pension and other postretirement non-service costs 0.06 0.00 -0.05 -0.02 0.00
Gain (loss) on extinguishment of debt -0.01 0.00 -0.11 0.01 0.00
Investments, net (premium) discount amortization 0.10 0.02 0.00 0.00 0.00
Other financial costs -0.01 -0.01 -0.03 -0.06 -0.04
Net interest and other financial costs -0.35% -0.56% -1.24% -1.96% -1.01%
Income (loss) from continuing operations before income taxes 9.43% 11.53% 2.35% -19.51% 3.49%
(Provision) benefit for income taxes on continuing operations -1.90 -2.53 -0.22 3.48 -0.87
Income (loss) from continuing operations, net of tax 7.53% 9.00% 2.13% -16.02% 2.63%
Income from discontinued operations, net of tax 0.00 0.04 7.04 1.73 0.00
Net income (loss) 7.53% 9.04% 9.17% -14.30% 2.63%
Net (income) loss attributable to noncontrolling interests -1.00 -0.86 -1.05 0.22 -0.50
Net income (loss) attributable to MPC 6.52% 8.18% 8.12% -14.08% 2.13%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Income (loss) from operations The net result for the period of deducting operating expenses from operating revenues. Marathon Petroleum Corp. income (loss) from operations as a percentage of sales and other operating revenues increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Income (loss) from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Marathon Petroleum Corp. income (loss) from continuing operations before income taxes as a percentage of sales and other operating revenues increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Net income (loss) attributable to MPC The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Marathon Petroleum Corp. net income (loss) attributable to MPC as a percentage of sales and other operating revenues increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.