Marathon Petroleum (MPC) FY2013 results: revenue $100.2 billion, up 21.8% on the year
Marathon Petroleum Corp. (MPC) reported revenue of $100.2 billion for fiscal 2013, the year ended 31 December 2013, up 21.8% on the year before. Net income was $2.1 billion, down 37.7%, and diluted earnings per share $3.32. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2014.
Revenue
$100.2 billion
+21.8% on the year
FY2009FY2013
Operating margin
3.4%
6.5% a year earlier
FY2009FY2013
Net income
$2.1 billion
-37.7% on the year
FY2009FY2013
Diluted EPS
$3.32
-32.9% on the year
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
100,160
82,243
78,638
+21.8%
Selling, general and administrative
1,248
1,223
1,059
+2.0%
Operating income
3,425
5,347
3,745
-35.9%
Operating margin
3.4%
6.5%
4.8%
Interest expense
195
191
164
+2.1%
Pre-tax income
3,246
5,238
3,719
-38.0%
Income tax
1,113
1,845
1,330
-39.7%
Effective tax rate
34.3%
35.2%
35.8%
Net income
2,112
3,389
2,389
-37.7%
Net margin
2.1%
4.1%
3.0%
Diluted EPS
$3.32
$4.95
$3.33
-32.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
3,405
4,492
3,309
-24.2%
Capital expenditure
1,206
1,369
1,185
-11.9%
Free cash flow
2,199
3,123
2,124
-29.6%
Free cash flow margin
2.2%
3.8%
2.7%
Cash from investing
-2,756
-1,452
1,295
Cash from financing
-3,217
-1,259
-1,643
Depreciation and amortisation
1,220
995
891
+22.6%
Share-based compensation
42.0
35.0
28.0
+20.0%
Buybacks
2,793
1,350
0.0
+106.9%
Dividends paid
484
407
160
+18.9%
Dividend per share
$0.77
$0.60
$0.23
+28.3%
Diluted shares, weighted
634m
684m
714m
-7.3%
Shares outstanding at period end
n/a
n/a
714m
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
10,920
11,694
9,505
-6.6%
Non-controlling interest
412
411
n/a
+0.2%
Debt
3,396
3,361
3,299
+1.0%
Other liabilities
13,657
11,757
12,941
+16.2%
Total liabilities and equity
28,385
27,223
25,745
+4.3%
Fixed assets
13,921
12,643
12,228
+10.1%
Goodwill
938
930
842
+0.9%
Cash and equivalents
2,292
4,860
3,079
-52.8%
Receivables
5,559
4,610
5,459
+20.6%
Inventory
4,689
3,449
3,320
+36.0%
Other assets
986
731
817
+34.9%
Total assets
28,385
27,223
25,745
+4.3%
10-K for the year ended 31 December 2013, filed 28 February 2014: the filing.