Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Marathon Petroleum Corp., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income (loss)	11,172)	16,050)	11,001)	(9,977)	3,255)
Amortization of deferred financing costs and debt discount	(78)	50)	79)	69)	33)
Impairment expense	—)	—)	—)	8,426)	1,197)
Depreciation and amortization	3,307)	3,215)	3,364)	3,375)	3,638)
Pension and other postretirement benefits, net	(191)	172)	(499)	220)	(64)
Deferred income taxes	(28)	290)	(169)	(241)	1,023)
Net gain on disposal of assets	(217)	(1,061)	(21)	(70)	(307)
(Income) loss from equity method investments	(742)	(655)	(458)	935)	(394)
Distributions from equity method investments	941)	772)	652)	577)	662)
Income from discontinued operations	—)	(72)	(8,448)	(1,205)	—)
Changes in income tax receivable	135)	(555)	2,089)	(1,807)	—)
Changes in the fair value of derivative instruments	70)	(147)	16)	45)	(8)
Current receivables	1,972)	(2,315)	(5,299)	1,465)	(2,024)
Inventories	(489)	(787)	(33)	1,750)	(366)
Current accounts payable and accrued liabilities	(1,316)	1,909)	6,260)	(2,927)	2,502)
Right of use assets and operating lease liabilities, net	(7)	—)	3)	(19)	14)
Changes in operating assets and liabilities, net of effects of businesses acquired	160)	(1,193)	931)	269)	126)
All other, net	(412)	(547)	(153)	191)	280)
Adjustments to reconcile net income (loss) to net cash provided by operating activities	2,945)	269)	(2,617)	10,784)	6,186)
Net cash provided by operating activities	14,117)	16,319)	8,384)	807)	9,441)
Additions to property, plant and equipment	(1,890)	(2,420)	(1,464)	(2,787)	(5,374)
Acquisitions, net of cash acquired	(246)	(413)	—)	—)	(129)
Disposal of assets	36)	90)	153)	150)	127)
Investments, acquisitions and contributions	(480)	(405)	(210)	(485)	(1,064)
Investments, redemptions, repayments, return of capital and sales proceeds	275)	515)	39)	137)	98)
Purchases of short-term investments	(8,622)	(6,023)	(12,498)	—)	—)
Sales of short-term investments	2,082)	1,296)	1,544)	—)	—)
Maturities of short-term investments	5,048)	7,159)	5,406)	—)	—)
All other, net	702)	824)	513)	63)	81)
Net cash (used in) provided by investing activities	(3,095)	623)	(6,517)	(2,922)	(6,261)
Commercial paper, issued	—)	—)	7,414)	2,055)	—)
Commercial paper, repayments	—)	—)	(8,437)	(1,031)	—)
Long-term debt, borrowings	1,589)	3,379)	12,150)	17,082)	14,274)
Long-term debt, repayments	(1,079)	(2,280)	(17,400)	(15,380)	(13,073)
Debt issuance costs	(15)	(39)	—)	(50)	(22)
Issuance of common stock	62)	243)	106)	11)	10)
Common stock repurchased	(11,572)	(11,922)	(4,654)	—)	(1,950)
Dividends paid	(1,261)	(1,279)	(1,484)	(1,510)	(1,398)
Distributions to noncontrolling interests	(1,281)	(1,214)	(1,449)	(1,244)	(1,245)
Contributions from noncontrolling interests	—)	—)	—)	—)	97)
Repurchases of noncontrolling interests	—)	(491)	(630)	(33)	—)
Redemption of noncontrolling interests, preferred units	(600)	—)	—)	—)	—)
All other, net	(50)	(44)	(35)	(35)	(69)
Net cash used in financing activities	(14,207)	(13,647)	(14,419)	(135)	(3,376)
Cash provided by (used in) operating activities, discontinued operations	—)	42)	(4,024)	1,612)	—)
Cash (used in) provided by investing activities, discontinued operations	—)	—)	21,314)	(335)	—)
Net cash provided by discontinued operations	—)	42)	17,290)	1,277)	—)
Net change in cash, cash equivalents and restricted cash	(3,185)	3,337)	4,738)	(973)	(196)
Cash, cash equivalents and restricted cash balances, beginning of year	8,631)	5,294)	556)	1,529)	1,725)
Cash, cash equivalents and restricted cash balances, end of year	5,446)	8,631)	5,294)	556)	1,529)

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).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Marathon Petroleum Corp. net cash provided by operating activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.
Net cash (used in) provided by investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Marathon Petroleum Corp. net cash (used in) provided by investing activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Marathon Petroleum Corp. net cash used in financing activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level.

Marathon Petroleum Corp. (NYSE:MPC)

Cash Flow Statement