Balance Sheet: Assets
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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

US$ in millions

	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	4,002)	4,441)	3,175)	5,443)	8,452)	7,345)	7,960)	8,625)	7,376)	9,078)	7,148)	5,291)	5,874)	11,839)	624)	415)	618)	1,091)	1,690)	1,527)	1,525)	1,247)	877)
Short-term investments	1,141)	4,058)	4,399)	4,781)	4,604)	4,109)	3,492)	3,145)	3,759)	4,241)	3,449)	5,548)	7,352)	5,418)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Receivables, less allowance for doubtful accounts	10,180)	12,307)	13,171)	11,619)	12,469)	10,274)	10,143)	13,477)	13,458)	17,305)	15,661)	11,034)	9,511)	9,771)	7,468)	5,760)	4,911)	4,361)	5,583)	7,872)	7,461)	7,603)	6,893)
Inventories	9,886)	9,800)	9,781)	9,317)	10,143)	9,536)	10,268)	8,827)	9,834)	11,048)	9,482)	8,055)	9,211)	8,879)	8,407)	7,999)	7,403)	8,086)	7,445)	10,243)	9,696)	9,088)	9,833)
Other current assets	740)	741)	734)	971)	607)	949)	623)	1,168)	858)	741)	648)	568)	2,175)	2,685)	2,695)	2,724)	2,199)	1,105)	975)	528)	457)	458)	548)
Assets held for sale	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	20)	—)	11,167)	11,389)	11,069)	—)	—)	—)	—)	—)	—)
Current assets	25,949)	31,347)	31,260)	32,131)	36,275)	32,213)	32,486)	35,242)	35,285)	42,413)	36,388)	30,496)	34,143)	38,592)	30,361)	28,287)	26,200)	14,643)	15,693)	20,170)	19,139)	18,396)	18,151)
Equity method investments	6,976)	6,821)	6,831)	6,260)	6,521)	6,665)	6,626)	6,466)	6,493)	5,508)	5,514)	5,409)	5,384)	5,424)	5,435)	5,422)	5,462)	5,740)	5,656)	6,898)	6,725)	6,729)	6,558)
Property, plant and equipment, net	34,542)	34,686)	34,963)	35,112)	34,690)	35,059)	35,391)	35,657)	35,384)	37,062)	37,145)	37,440)	37,630)	37,996)	38,491)	39,035)	39,757)	45,025)	45,333)	45,615)	45,034)	45,335)	45,091)
Goodwill	8,244)	8,244)	8,244)	8,244)	8,244)	8,244)	8,244)	8,244)	8,244)	8,244)	8,256)	8,256)	8,256)	8,256)	8,256)	8,256)	8,256)	12,710)	12,710)	20,040)	21,277)	20,277)	20,229)
Operating lease right of use assets	1,192)	1,187)	1,255)	1,233)	1,310)	1,288)	1,269)	1,214)	1,200)	1,276)	1,331)	1,372)	1,424)	1,500)	1,514)	1,521)	1,640)	2,454)	2,562)	2,459)	2,522)	2,588)	2,680)
Other noncurrent assets	2,930)	2,944)	2,975)	3,007)	2,929)	2,973)	3,021)	3,081)	3,088)	2,234)	2,318)	2,400)	2,463)	2,532)	2,594)	2,637)	2,705)	4,021)	4,363)	3,374)	3,442)	3,571)	3,727)
Noncurrent assets	53,884)	53,882)	54,268)	53,856)	53,694)	54,229)	54,551)	54,662)	54,409)	54,324)	54,564)	54,877)	55,157)	55,708)	56,290)	56,871)	57,820)	69,950)	70,624)	78,386)	79,000)	78,500)	78,285)
Total assets	79,833)	85,229)	85,528)	85,987)	89,969)	86,442)	87,037)	89,904)	89,694)	96,737)	90,952)	85,373)	89,300)	94,300)	86,651)	85,158)	84,020)	84,593)	86,317)	98,556)	98,139)	96,896)	96,436)

Cash and cash equivalents: Cash and cash equivalents displayed variability over the reported quarters, with a notable peak at the end of June 2021 reaching 11,839 million USD. Following that peak, the figure generally trended downward, dropping to around 4,002 million USD by September 2024. Significant fluctuations suggest variable liquidity positions across the periods.
Short-term investments: Data on short-term investments began from June 2021, showing an initial value of 5,418 million USD and a general downward trend to 1,141 million USD by September 2024. This decline indicates a reduction in liquid investment holdings over these periods.
Receivables, less allowance for doubtful accounts: Receivables showed fluctuations over time, with a decrease from early 2019 to mid-2020, bottoming around 4,361 million USD. Subsequently, a recovery trend is observed, reaching a high in mid-2022 (17,305 million USD) before decreasing again towards the last periods (approximately 10,180 million USD by September 2024). This suggests variable collection or sales levels influencing receivables.
Inventories: Inventories showed a general decline in early 2020, followed by recovery and stabilization around 9,000 to 10,000 million USD in later periods. This relative stability in recent quarters indicates controlled inventory management.
Other current assets: Other current assets increased notably during 2020, peaking at 2,724 million USD in December 2019 and again showing fluctuations in later periods, with values generally below 1,000 million USD from 2021 onward. This decrease could reflect disposals or reclassifications of certain current assets.
Assets held for sale: Assets held for sale were recorded only during parts of 2020 and early 2021, with values over 11,000 million USD, and then disappeared from records thereafter, indicating a completed sale or removal from the asset portfolio.
Current assets: Current assets increased sharply from 15,693 million USD in March 2020 to 42,413 million USD in June 2022, demonstrating significant growth in short-term resources. Following this peak, current assets decreased progressively to around 25,949 million USD by September 2024, suggesting a consolidation phase or use of assets.
Equity method investments: Equity method investments remained relatively stable across periods, fluctuating modestly around 5,000 to 7,000 million USD, indicating consistent ownership interests in associated companies without major disposals or acquisitions.
Property, plant and equipment, net: Property, plant, and equipment (net) exhibited a decline from over 45,000 million USD in early 2019 to around 34,500 million USD by the end of the period. This downward trend likely reflects depreciation, asset disposals, or reduced capital expenditure.
Goodwill: Goodwill dropped sharply from about 20,229 million USD in early 2019 to approximately 8,244 million USD by 2020, after which it remained stable at that level through 2024. This significant reduction suggests impairment write-downs or divestitures affecting goodwill.
Operating lease right of use assets: These assets showed a general decreasing trend from 2,680 million USD in March 2019 to around 1,192 million USD by September 2024, implying lease terminations, expirations, or remeasurements of lease assets over time.
Other noncurrent assets: Other noncurrent assets decreased from 3,727 million USD in early 2019 to roughly 2,930 million USD by September 2024, with some fluctuations, potentially reflecting amortization or disposals.
Noncurrent assets: Noncurrent assets overall decreased substantially from approximately 78,285 million USD in March 2019 to around 53,884 million USD by September 2024, highlighting significant reductions primarily driven by declines in property, plant, equipment, and goodwill.
Total assets: Total assets decreased from about 96,436 million USD in early 2019 to 79,833 million USD in September 2024. The downward trajectory is driven by reductions in both current and noncurrent asset categories, reflecting an overall contraction in the asset base.

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Marathon Petroleum Corp. (NYSE:MPC)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data