Stock Analysis on Net
Stock Analysis on Net

Marathon Petroleum Corp. (NYSE:MPC)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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

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Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Accounts payable 16.00 17.03 16.05 9.16 11.79
Payroll and benefits payable 1.30 1.08 1.07 0.86 1.14
Accrued taxes 1.42 1.27 1.44 1.30 1.20
Debt due within one year 2.27 1.19 0.67 3.35 0.72
Current operating lease liabilities 0.53 0.41 0.51 0.58 0.61
Environmental credits liability 0.90 0.48 0.00 0.00 0.00
Accrued interest payable 0.37 0.35 0.00 0.00 0.00
Other current liabilities 0.64 0.47 1.23 0.97 0.91
Other current liabilities 1.91% 1.30% 1.23% 0.97% 0.91%
Liabilities held for sale 0.00 0.00 0.00 2.17 0.00
Current liabilities 23.43% 22.27% 20.96% 18.39% 16.38%
Long-term debt due after one year 29.46 28.51 29.25 33.74 28.54
Deferred income taxes 6.78 6.57 6.60 7.28 6.49
Defined benefit postretirement plan obligations 1.28 1.24 1.19 2.49 1.67
Long-term operating lease liabilities 0.89 0.94 1.09 1.19 1.90
Deferred credits and other liabilities 1.64 1.45 1.58 1.42 1.28
Noncurrent liabilities 40.05% 38.70% 39.70% 46.12% 39.88%
Total liabilities 63.48% 60.97% 60.67% 64.51% 56.26%
Redeemable noncontrolling interest 1.04 1.08 1.13 1.14 0.98
Preferred stock, no shares issued and outstanding, par value $0.01 per share 0.00 0.00 0.00 0.00 0.00
Common stock, issued 0.01 0.01 0.01 0.01 0.01
Common stock, held in treasury, at cost -50.59 -35.42 -23.31 -17.80 -15.36
Additional paid-in capital 38.92 37.15 38.96 39.00 33.64
Retained earnings 40.19 29.08 15.12 5.46 16.22
Accumulated other comprehensive income (loss) -0.15 0.00 -0.08 -0.60 -0.32
Total MPC stockholders’ equity 28.38% 30.83% 30.70% 26.07% 34.19%
Noncontrolling interests 7.09 7.12 7.51 8.28 8.57
Total equity 35.48% 37.95% 38.20% 34.35% 42.76%
Total liabilities, redeemable noncontrolling interest and equity 100.00% 100.00% 100.00% 100.00% 100.00%

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).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Marathon Petroleum Corp. current liabilities as a percentage of total liabilities, redeemable noncontrolling interest and equity increased from 2021 to 2022 and from 2022 to 2023.
Noncurrent liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Marathon Petroleum Corp. noncurrent liabilities as a percentage of total liabilities, redeemable noncontrolling interest and equity decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Marathon Petroleum Corp. total liabilities as a percentage of total liabilities, redeemable noncontrolling interest and equity increased from 2021 to 2022 and from 2022 to 2023.
Total MPC stockholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Marathon Petroleum Corp. total MPC stockholders’ equity as a percentage of total liabilities, redeemable noncontrolling interest and equity increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.