The following table should be read in conjunction with Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Item 8. Financial Statements and Supplementary Data.
Year Ended December 31,
(In millions, except per share data)
2017(a)
2016
2015(b)
2014(b)
2013(b)
Statements of Income Data
Revenues
$
74,733
$
63,339
$
72,051
$
97,817
$
100,160
Income from operations
3,969
2,378
4,692
4,051
3,425
Net income
3,804
1,213
2,868
2,555
2,133
Net income attributable to MPC
3,432
1,174
2,852
2,524
2,112
Per Share Data(c)
Net income attributable to MPC per share:
Basic
$
6.76
$
2.22
$
5.29
$
4.42
$
3.34
Diluted
$
6.70
$
2.21
$
5.26
$
4.39
$
3.32
Dividends per share
$
1.52
$
1.36
$
1.14
$
0.92
$
0.77
Statements of Cash Flows Data
Net cash provided by operating activities
$
6,609
$
3,995
$
4,073
$
3,121
$
3,413
Additions to property, plant and equipment
2,732
2,892
1,998
1,480
1,206
Acquisitions, net of cash acquired(b)
249
—
1,218
2,821
1,515
Investments - acquisitions, loans and contributions
805
288
331
413
151
Common stock repurchased
2,372
197
965
2,131
2,793
Dividends paid
773
719
613
524
484
December 31,
(In millions)
2017
2016
2015(b)
2014(b)
2013(b)
Balance Sheets Data
Total assets
$
49,047
$
44,413
$
43,115
$
30,425
$
28,367
Long-term debt, including capitalized leases(d)
12,946
10,572
11,925
6,602
3,378
Noncontrolling interests
6,795
6,646
6,438
639
412
Total equity
20,828
20,203
19,675
11,390
11,332
(a)
Earnings for 2017 include a tax benefit of approximately $1.5 billion or $2.93 per diluted share as a result of re-measuring certain net deferred tax liabilities using the lower corporate tax rate enacted in the fourth quarter 2017.
(b)
On December 4, 2015, MPLX, our consolidated subsidiary, merged with MarkWest. On September 30, 2014, we acquired Hess’ Retail Operations and Related Assets. On February 1, 2013, we acquired the Galveston Bay Refinery and Related Assets. The financial results for these operations are included in our consolidated results from the date of acquisition.
(c)
The number of weighted average shares reflect the impacts of shares of common stock repurchased under our share repurchase plans.
(d)
Includes amounts due within one year. During 2017, MPLX issued $2.25 billion aggregate principal amount of senior notes and used the net proceeds to fund the $1.5 billion cash portion of the consideration paid to MPC for the dropdown of assets on March 1, 2017. During 2015, in connection with the MarkWest Merger, MPLX assumed MarkWest Senior Notes with an aggregate principal amount of $4.1 billion and used its credit facility to repay $850 million of the $943 million of borrowings under MarkWest’s credit facility. During 2014, we issued $1.95 billion aggregate principal amount of senior notes and entered into a $700 million term loan agreement to fund a portion of the Hess’ Retail Operations and Related Assets acquisition.
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