Marathon Petroleum Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Capital Expenditure Guidance for the Fiscal 2013
For the year, the company's net income attributable to company were $3.39 billion, or $9.89 per diluted share, in 2012, compared with $2.39 billion, or $6.67 per diluted share, in 2011. Net income was $3,389 million against $2,389 million a year ago. Earnings adjusted for special items were $3.35 billion, or $9.79 per diluted share, compared with $2.41 billion, or $6.72 per diluted share, in 2011. Total revenues and other income was $82,492 million against $78,759 million a year ago. Income from operations was $5,347 million against $3,745 million a year ago. Income before income taxes was $5,238 million against $3,719 million a year ago. Total segment EBITDA was $6,596 million against $4,934 million a year ago. The company generated almost $4.5 billion in cash from operations and nearly $3 billion of free cash flow.
The 2013 capital investment plan totals $1.6 billion, excluding the Galveston Bay refinery purchase price. The company remains very enthusiastic about prospects into 2013. Total capital spending is estimated at $225 million, with the hydrocracker revamp to be completed in 2014 and completion of the final phase of the program in 2015.