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Published: Tuesday, 5/8/2012 - Updated: 3 years ago

Marathon Petroleum at 31 on Fortune's list

3 other Toledo-area firms in top 500


NEW YORK — Fortune Magazine released its annual list of the nation's biggest companies by revenue Monday, and Marathon Petroleum Corp. entered the list at No. 31.


Ohio companies in the Fortune 500, with state rank, company name, city, and revenues (in billions of dollars):

1. Cardinal Health, Dublin, $102.6

2. Kroger, Cincinnati, $90.3

3. Procter & Gamble, Cincinnati, $82.5

4. Marathon Petroleum, Findlay, $73.6

5. Nationwide, Columbus, $30.6

6. Macy’s, Cincinnati, $26.4

7. Goodyear Tire & Rubber, Akron, $22.7

8. FirstEnergy, Akron, $16.2

9. Eaton, Cleveland, $16.0

10. Progressive, Mayfield Village, $15.5

11. American Electric Power, Columbus, $15.1

12. Parker Hannifin, Cleveland, $12.3

13. Limited Brands, Columbus, $10.4

14. Sherwin-Williams, Cleveland, $8.8

15. TravelCenters of America, Westlake, $7.9

16. Dana Holding, Maumee, $7.6

17. Owens-Illinois, Perrysburg, $7.4

18. Cliffs Natural Resources, Cleveland, $6.8

19. Fifth Third Bancorp, Cincinnati, $6.7

20. AK Steel Holding, West Chester, $6.5

21. Momentive Specialty Chemicals, Columbus, $5.4

22. Owens Corning, Toledo, $5.3

23. Big Lots, Columbus, $5.2

24. Timken, Canton, $5.2

25. Western & Southern Financial Group, Cincinnati, $5.0

26. Aleris, Cleveland, $4.8

27. J.M. Smucker, Orrville, $4.8

28. KeyCorp, Cleveland, $4.8

The Findlay company was spun off from Houston-based Marathon Oil last year, so it's on the list for the first time. Marathon Oil fell to No. 173 after being No. 29 last year.

Marathon Petroleum is the fourth-largest company in Ohio, behind Cardinal Health, Kroger Co., and Procter and Gamble.

Among Toledo-area firms, Dana Holding Corp. is No. 336 on the national list, Owens-Illinois Inc. is No. 345, and Owens Corning is No. 454.

Fortune lists the 1,000 biggest companies, and Maumee-based The Andersons Inc. is No. 517 and Findlay's Cooper Tire & Rubber Co. ranks 575th.

At the top of the list, which is based on revenues, ExxonMobil Corp. bumped Wal-Mart Stores Inc. from first.

Oil producers experienced some of the biggest revenue increases as a rebellion in Libya and high demand worldwide pushed oil prices higher. The price of benchmark West Texas Intermediate crude oil soared 19 percent. Brent crude, which helps set the price of foreign oil varieties, surged 38 percent in 2011 from its price in 2010.

Revenue rose for Exxon Mobil, based in Irving, Texas, even though the firm struggled with lower production and high refining costs. It earned $41 billion last year on revenue of $486 billion.

Now at No. 2, Wal-Mart reported 4 percent lower earnings in its latest fiscal year: net income of $15.7 billion on revenue of $446.95 billion. Higher expenses squeezed profits as the Bentonville, Ark., retail giant looked for ways to lower prices.

Two other petroleum companies — Chevron Corp. and ConocoPhillips Co. — ranked next behind Wal-Mart.

Rounding out the top 10 were automaker General Motors Co., industrial and banking giant General Electric Co., Warren Buffett's Berkshire Hathaway Inc., mortgage provider Fannie Mae, Ford Motor Co. and Hewlett-Packard Co.

Hewlett-Packard is new to Fortune's top 10 this year, knocking out Bank of America, which fell to No. 13.

Bank of America's revenue has been hit on several fronts by a combination of a weak economy and new regulations that cut how much the bank could collect in credit-card and checking-account fees. It earned $1.4 billion last year on revenue of $94.4 billion.

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