|
|
 | | | |
- close
- close
- close
- close
This excerpt taken from the MRO 10-Q filed Nov 7, 2008. Share repurchase
– As of September 30, 2008, we had acquired 66 million common shares
at a cost of $2,922 million under our $5 billion authorized share repurchase
program, including 8 million common shares acquired during the first nine months
of 2008 at a cost of $402 million.
15. Commitments
and Contingencies
We
are the subject of, or party to, a number of pending or threatened legal
actions, contingencies and commitments involving a variety of matters, including
laws and regulations relating to the environment. The ultimate
resolution of these contingencies could, individually or in the aggregate, be
material to our consolidated financial statements. However,
management believes that we will remain a viable and competitive enterprise even
though it is possible that these contingencies could be resolved
unfavorably. Certain of our commitments are discussed
below.
We, along
with some other defendants with refinery operations, recently settled a number
of lawsuits alleging methyl tertiary butyl ether (“MTBE”) contamination of water
supply wells. We were a defendant in 40 of the cases
settled. Our share of the cash portion of the settlement was paid in
October 2008 and did not significantly impact our consolidated results of
operations, financial position or cash flows. Under the settlement, the
settling
14
Notes
to Consolidated Financial Statements (Unaudited)
defendants,
including our company, are responsible for addressing future MTBE contamination
in certain water supply wells. We do not expect that our share of
liability for any such future obligations under the settlement to significantly
impact our consolidated results of operations, financial position or cash
flows.
This excerpt taken from the MRO 10-Q filed Aug 8, 2008. Share repurchase
– As of June 30, 2008, Marathon had acquired 64 million common
shares at a cost of $2,815 million under its $5 billion authorized share
repurchase program, including 6 million common shares acquired during the first
six months of 2008 at a cost of $295 million.
This excerpt taken from the MRO 10-Q filed May 9, 2008. Share repurchase
– As of March 31, 2008, Marathon had acquired 61 million common
shares at a cost of $2.663 billion under its $5 billion authorized share
repurchase program, including 3 million common shares acquired during the first
quarter of 2008 at a cost of $143 million.
| EXCERPTS ON THIS PAGE:
RELATED TOPICS for MRO: |
| |||||||
