MURPHY OIL CORP 10-Q

Financial Statements (unaudited)

ITEM 1. FINANCIAL STATEMENTS MURPHY OIL CORPORATION AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Thousands of dollars, except share amounts) June 30, 2026 December 31, 2025 ASSETS Current assets Cash and cash equivalents $ 483,875 $ 377,196 Accounts receivable, net 443,120 346,759 Inventories 62,011 57,284 Prepaid expenses 37,836 35,473 Total current assets 1,026,842 816,712 Property, plant and equipment, at cost less accumulated depreciation, depletion and amortization of $ 15,470,662 in 2026 and $ 15,068,149 in 2025 8,434,791 8,136,346 Operating lease assets 702,528 805,464 Deferred charges and other assets 113,973 74,104 Total assets $ 10,278,134 $ 9,832,626 LIABILITIES AND EQUITY Current liabilities Current maturities of long-term debt, finance lease $ 2,578 $ 2,514 Accounts payable 671,238 572,183 Income taxes payable 32,330 18,209 Other taxes payable 36,388 28,295 Operating lease liabilities 280,162 278,834 Other accrued liabilities 120,438 120,755 Current asset retirement obligations 59,231 41,959 Total current liabilities 1,202,365 1,062,749 Long-term debt, including finance lease obligation 1,547,864 1,382,566 Asset retirement obligations 981,355 970,908 Deferred credits and other liabilities 245,770 263,596 Non-current operating lease liabilities 433,128 537,773 Deferred income taxes 464,462 378,337 Total liabilities $ 4,874,944 $ 4,595,929 Equity Cumulative Preferred Stock, par $ 100 , authorized 400,000 shares, none issued $ — $ — Common Stock, par $ 1.00 , authorized 450,000,000 shares, issued 195,100,628 shares at June 30, 2026 and 195,100,628 shares at December 31, 2025 195,101 195,101 Capital in excess of par value 844,653 859,633 Retained earnings 6,876,135 6,691,318 Accumulated other comprehensive loss ( 606,066 ) ( 554,227 ) Treasury stock ( 2,050,809 ) ( 2,073,445 ) Murphy Shareholders' Equity 5,259,014 5,118,380 Noncontrolling interest 144,176 118,317 Total equity 5,403,190 5,236,697 Total liabilities and equity $ 10,278,134 $ 9,832,626 The accompanying notes are an integral part of these consolidated financial statements. 2 Table of Contents MURPHY OIL CORPORATION AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, (Thousands of dollars, except per share amounts) 2026 2025 2026 2025 Revenues and other income Revenue from productio