Marathon Petroleum Corp
For the period ended Sep 30, 2024. Filed Nov 5, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 5, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
7. Earnings Per Share
- Earnings Per Share
We compute basic earnings per share by dividing net income attributable to MPC less income allocated to participating securities by the weighted average number of shares of common stock outstanding. Since MPC grants certain incentive compensation awards to employees and non-employee directors that are considered to be participating securities, we have calculated our earnings per share using the two-class method. Diluted income per share assumes exercise of certain share-based compensation awards, provided the effect is not anti-dilutive.
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| (In millions, except per share data) | 2024 | 2023 | 2024 | 2023 |
| Net income | $1,015 | $3,631 | $4,282 | $9,295 |
| Net income attributable to noncontrolling interest | (393) | (351) | (1,208) | (1,065) |
| Net income allocated to participating securities | — | (2) | (2) | (5) |
| Redemption of preferred units | — | — | — | (2) |
| Income available to common stockholders | $622 | $3,278 | $3,072 | $8,223 |
| Weighted average common shares outstanding: | ||||
| Basic | 331 | 394 | 347 | 418 |
| Effect of dilutive securities | 1 | 2 | 1 | 2 |
| Diluted | 332 | 396 | 348 | 420 |
| Income available to common stockholders per share: | ||||
| Basic: | ||||
| Net income attributable to MPC per share | $1.88 | $8.31 | $8.85 | $19.66 |
| Diluted: | ||||
| Net income attributable to MPC per share | $1.87 | $8.28 | $8.83 | $19.57 |
Potential common shares that were anti-dilutive and, therefore, omitted from the diluted share calculation, were immaterial for all periods.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.