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Marathon Petroleum Highlights MarkWest Deal in 4Q
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Marathon Petroleum Corporation reported 2015 fourth-quarter earnings of $187 million, or $0.35 per diluted share, compared with $798 million, or $1.43 per diluted share, in the fourth quarter of 2014. Fourth-quarter 2015 earnings include a pretax charge of $370 million, or $0.44 per diluted share, to value inventories at lower of cost or market (LCM). The results of MarkWest are included from the Dec. 4, 2015, merger date.
Highlights: Reported fourth-quarter earnings of $187 million ($0.35 per diluted share), including a pretax charge of $370 million ($0.44 per diluted share) to value inventories at the lower of cost or market; full-year earnings of $2.85 billion ($5.26 per diluted share) Completed strategic combination between MPLX and MarkWest Returned $1.6 billion to shareholders in…- ✓ Full news archive — U.S., Canada & international coverage
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