1、Increasing Value Through Integration2007 Annual ReportIn 2007,Marathon continued to createlong-term value for shareholdersthrough a fully integrated energystrategy.Investments in key growthopportunities such as oil sands miningin Canada,liquefied natural gas in Equatorial Guinea,continuedexploration
2、 success,and refiningassets in Louisiana and Michigancomplement our existing assetportfolio and set the stage forcontinued profitable growth.On the cover:Marathons acquisition of oil sands mining assets in the Athabasca Region of Northern Alberta,Canada,positioned us to realize a fully integrated oi
3、l strategy.The Company will capitalize on the ownership of the oil sands resource by upgrading and expanding our well-positioned Detroit,Michigan,refinery.Financial HighlightsFinancial Highlights 1bcf billion cubic feetmbblthousand barrelsmboepd thousand barrels of oil equivalent per daymbpd thousan
4、d barrels per daymmbbl million barrelsmmboe million barrels of oil equivalentmmcfd million cubic feet per daymmtthousand metric tonnesmtpdmetric tonnes per dayDollars in millions,except where noted2007200620052004Revenues$64,552$64,896$62,986$49,465Income from operations6,6408,9675,2422,716Income fr
5、om continuing operations3,9484,9573,0061,294Net income 3,9565,2343,0321,261Per common share data(in dollars)(a)Income from continuing operations basic$5.72$6.92$4.22$1.92Net income basic$5.73$7.31$4.26$1.87Income from continuing operations diluted$5.68$6.87$4.19$1.91Net income diluted$5.69$7.25$4.22
6、$1.86Dividends$0.92$0.76$0.60$0.51Average shares outstanding diluted(in millions)(a)695722718677Cash and cash equivalents(b)$1,199$2,585$2,617$3,369Long-term debt(b)6,0843,0613,6984,057Stockholders equity(b)19,22314,60711,7058,111Total assets(b)42,74630,83128,49823,423Net cash from operating activit