$MPC
Marathon Petroleum Corp
CIK:0001510295|SEC Filings
Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Revenues and other income: | ||||||
| Sales and other operating revenues | [1] | $ 51,994 | $ 33,799 | $ 86,194 | $ 65,316 | |
| Income from equity method investments | 256 | 212 | 432 | 442 | ||
| Net gain (loss) on disposal of assets | (2) | 6 | (2) | 6 | ||
| Other income | 89 | 84 | 281 | 187 | ||
| Total revenues and other income | 52,337 | 34,101 | 86,905 | 65,951 | ||
| Costs and expenses: | ||||||
| Cost of revenues (excludes items below) | 43,064 | 30,025 | 74,325 | 59,385 | ||
| Depreciation and amortization | 838 | 789 | 1,647 | 1,582 | ||
| Selling, general and administrative expenses | 894 | 867 | 1,761 | 1,650 | ||
| Other taxes | 219 | 223 | 446 | 450 | ||
| Total costs and expenses | 45,015 | 31,904 | 78,179 | 63,067 | ||
| Income from operations | 7,322 | 2,197 | 8,726 | 2,884 | ||
| Net interest and other financial costs | 340 | 319 | 710 | 623 | ||
| Income before income taxes | 6,982 | 1,878 | 8,016 | 2,261 | ||
| Provision for income taxes | 1,444 | 268 | 1,627 | 305 | ||
| Net income | 5,538 | 1,610 | 6,389 | 1,956 | ||
| Less net income attributable to: | ||||||
| Noncontrolling interests | 400 | 394 | 740 | 814 | ||
| Net income attributable to MPC | $ 5,138 | $ 1,216 | $ 5,649 | $ 1,142 | ||
| Basic: | ||||||
| Net income attributable to MPC per share | $ 17.76 | $ 3.96 | $ 19.34 | $ 3.69 | ||
| Weighted average shares outstanding | 289 | 307 | 291 | 309 | ||
| Diluted: | ||||||
| Net income attributable to MPC per share | $ 17.73 | $ 3.96 | $ 19.30 | $ 3.68 | ||
| Weighted average shares outstanding | 290 | 307 | 292 | 310 | ||
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Consolidated Balance Sheets - USD ($) $ in Millions |
Jun. 30, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $ 7,768 | $ 3,672 |
| Receivables, less allowance for expected credit loss of $13 and $20, respectively | 15,740 | 10,317 |
| Inventories | 9,973 | 10,129 |
| Other current assets | 805 | 662 |
| Total current assets | 34,286 | 24,780 |
| Equity method investments | 7,197 | 6,795 |
| Property, plant and equipment, net | 37,942 | 37,397 |
| Goodwill | 9,335 | 9,354 |
| Intangibles, net | 2,593 | 2,714 |
| Right of use assets, net | 1,486 | 1,493 |
| Other noncurrent assets | 1,471 | 1,422 |
| Total assets | 94,310 | 83,955 |
| Liabilities | ||
| Accounts payable | 19,227 | 12,974 |
| Payroll and benefits payable | 823 | 1,107 |
| Accrued taxes | 2,427 | 1,484 |
| Debt due within one year | 2,120 | 2,371 |
| Operating lease liabilities | 499 | 489 |
| Other current liabilities | 2,325 | 1,253 |
| Total current liabilities | 27,421 | 19,678 |
| Long-term debt | 30,696 | 30,505 |
| Deferred income taxes | 5,953 | 5,984 |
| Defined benefit postretirement plan obligations | 1,288 | 1,173 |
| Long-term operating lease liabilities | 977 | 993 |
| Deferred credits and other liabilities | 2,255 | 1,536 |
| Total liabilities | 68,590 | 59,869 |
| Commitments and contingencies (see Note 22) | ||
| Equity [Abstract] | ||
| Preferred stock, no shares issued and outstanding (par value $0.01 per share, 30 million shares authorized) | 0 | 0 |
| Common stock: | ||
| Issued – 995 million and 994 million shares (par value $0.01 per share, 2 billion shares authorized) | 10 | 10 |
| Held in treasury, at cost – 712 million and 699 million shares | (59,308) | (56,027) |
| Additional paid-in capital | 33,673 | 33,685 |
| Retained earnings | 44,812 | 39,751 |
| Accumulated other comprehensive loss | (110) | (105) |
| Total MPC stockholders’ equity | 19,077 | 17,314 |
| Noncontrolling interests | 6,643 | 6,772 |
| Total equity | 25,720 | 24,086 |
| Total liabilities and equity | $ 94,310 | $ 83,955 |