Marathon Petroleum Corp (MPC)

Debt-to-assets ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	27,000,000	26,900,000	26,900,000	26,900,000	26,300,000	26,300,000	26,300,000	26,300,000	25,100,000	26,900,000	27,900,000	32,000,000	31,100,000	31,400,000	31,600,000	31,000,000	28,300,000	28,300,000	27,900,000	27,600,000
Total assets	US$ in thousands	85,987,000	89,969,000	86,442,000	87,037,000	89,904,000	89,694,000	96,737,000	90,952,000	85,373,000	89,300,000	94,300,000	86,651,000	85,158,000	84,020,000	84,593,000	86,317,000	98,556,000	98,139,000	96,896,000	96,436,000
Debt-to-assets ratio		0.31	0.30	0.31	0.31	0.29	0.29	0.27	0.29	0.29	0.30	0.30	0.37	0.37	0.37	0.37	0.36	0.29	0.29	0.29	0.29

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $27,000,000K ÷ $85,987,000K
= 0.31

Based on the data provided, Marathon Petroleum Corp's debt-to-assets ratio has been relatively stable over the past eight quarters, ranging from 0.28 to 0.32. This ratio indicates the proportion of the company's assets financed by debt, with lower ratios generally considered more favorable as they suggest lower financial risk.

Marathon Petroleum Corp's consistent debt-to-assets ratio around the 0.30 range suggests that the company maintains a reasonable balance between debt and assets, without being overly reliant on borrowing to fund its operations or growth. The slight fluctuations in the ratio do not indicate any alarming trends but rather normal variations that may be influenced by timing of debt repayments, asset acquisitions, or other strategic decisions.

Overall, the company's debt-to-assets ratio reflects a sound financial position with a prudent level of debt relative to its total assets. Further analysis, in conjunction with other financial metrics and industry benchmarks, would provide a more comprehensive understanding of Marathon Petroleum Corp's overall financial health and leverage position.