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| Financial Highlights Dollars in millions, except where noted |
2003 | % Change 2003-2002 |
2002 | 2001 | 2000 | ||||||
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| Revenues | $ | 40,963 | 31 | $ | 31,295 | $ | 32,796 | $ | 34,119 | ||
| Income from operations | 2,084 | 52 | 1,370 | 3,108 | 1,707 | ||||||
| Income from continuing operations | 1,012 | 100 | 507 | 1,405 | 405 | ||||||
| Net income applicable to Common Stock | 1,321 | 156 | 516 | 377 | 432 | ||||||
| Per Common Share Data | |||||||||||
| Basic and diluted: | |||||||||||
| Income from continuing operations | $ | 3.26 | 100 | $ | 1.63 | $ | 4.54 | $ | 1.30 | ||
| Net income | $ | 4.26 | 157 | $ | 1.66 | $ | 1.22 | $ | 1.39 | ||
| Dividends | $ | 0.96 | 4 | $ | 0.92 | $ | 0.92 | $ | 0.88 | ||
| Average common shares outstanding: (diluted, in millions) | 310.3 | — | 310.0 | 309.5 | 311.8 | ||||||
Long-term debt |
$ | 4,085 | (7) | $ | 4,410 | $ | 3,432 | $ | 1,937 | ||
| Stockholders’ equity |
$ | 6,075 | 20 | $ | 5,082 | $ | 4,940 | $ | 6,764 | ||
| Total assets |
$ | 19,482 | 9 | $ | 17,812 | $ | 16,129 | $ | 17,151 | ||
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| Net cash from operating activities (excluding discontinued operations) |
$ | 2,678 | 15 | $ | 2,336 | $ | 2,749 | $ | 2,947 | ||
Capital expenditures |
$ | 1,892 | 24 | $ | 1,520 | $ | 1,533 | $ | 1,297 | ||
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| Average daily production: | |||||||||||
| Liquid hydrocarbons (MBPD) | 194 | (6) | 207 | 209 | 207 | ||||||
| Gas (MMCFD) | 1,170 | (5) | 1,230 | 1,273 | 1,241 | ||||||
| Barrels of oil equivalent (MBOED) | 389 | (5) | 412 | 421 | 414 | ||||||
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| Annual production: | |||||||||||
| Liquid hydrocarbons (MMBBL) | 71 | (6) | 76 | 76 | 76 | ||||||
Gas (BCF) |
427 | (5) | 449 | 465 | 454 | ||||||
| Barrels of oil equivalent (MMBOE) | 142 | (5) | 150 | 154 | 152 | ||||||
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| Proved reserves: | |||||||||||
| Liquid hydrocarbons (MMBBL) | 578 | (20) | 720 | 570 | 717 | ||||||
| Gas (Bcf) |
2,784 | (18) | 3,377 | 2,858 | 3,094 | ||||||
| Barrels of oil equivalent (MMBOE) | 1,042 | (19) | 1,283 | 1,046 | 1,234 | ||||||
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Refinery Operations: |
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| Refinery runs – cruce oil (MBPD) | 917 | 1 | 906 | 929 | 900 | ||||||
| Refinery runs – other charge & blend stocks (MBPD) | 138 | (7) | 148 | 143 | 141 | ||||||
| Crude oil capacity utilization rate | 98% | — | 97% | 99% | 96% | ||||||
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Consoldiated Refined Product Sales: |
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| Volume excluding matching buy/sell transactions (MBPD) |
1,293 | 4 | 1,247 | 1,259 | 1,254 | ||||||
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Speedway SuperAmerica: |
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| Gasoline & distilate sales (million gallons) | 3,332 | (8) | 3,604 | 3,572 | 3,732 | ||||||
| Merchandise sales | $ | 2,244 | (6) | $ | 2,380 | $ | 2,253 | $ | 2,160 | ||
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Number of Retail Marketing Outlets: |
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| Marathon and Ashland brand | 3,885 | 2 | 3,822 | 3,800 | 3,728 | ||||||
Speedway SuperAmerica |
1,775 | (12) | 2,006 | 2,104 | 2,160 | ||||||
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| Number of employees |
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| Marathon | 3,451 | 15 | 3,000 | 2,973 | 3,144 | ||||||
| MAP | 23,556 | (6) | 25,166 | 27,698 | 27,516 | ||||||
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As of December 31.Excludes acquisitions.Includes gas acquired for injection and subsequent resale of 4, 8, 11 and 16 mmcfd in 2002, 2001 and 2000, respectively.Statistics include 100% of MAP. Total average daily volume of all refined product sales to MAP’s wholesale, branded and retail (SSA) customers.Excludes travel centers contributed to Pilot Travel Centers LLC. Periods prior to September 1, 2001 have been restated. |
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| BCF - billion cubic feet MBOED - thousand barrels of oil equivalent per day MBPD - thousand barrels per day |
MMBBL - million barrels MMBOE - million barrels of oil equivalent MMCFD - million cubic feet per day |
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