Marathon Petroleum (MPC) 10-Q 30 Apr 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	Apr. 26, 2024
Cover [Abstract]
Entity Central Index Key	0001510295
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	Q1
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-35054
Entity Registrant Name	Marathon Petroleum Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-1284632
Entity Address, Address Line One	539 South Main Street
Entity Address, City or Town	Findlay
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45840-3229
City Area Code	419
Local Phone Number	422-2121
Title of 12(b) Security	Common Stock, par value $.01
Trading Symbol	MPC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		352,330,482

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Revenues and other income:
Sales and other operating revenues	[1]	$ 32,706	$ 34,864
Income from equity method investments		204	133
Net gain on disposal of assets		20	3
Other income		281	77
Total revenues and other income		33,211	35,077
Costs and expenses:
Cost of revenues (excludes items below)		29,593	29,294
Depreciation and amortization		827	800
Selling, general and administrative expenses		779	691
Other taxes		228	231
Total costs and expenses		31,427	31,016
Income from operations		1,784	4,061
Net interest and other financial costs		179	154
Income before income taxes		1,605	3,907
Provision for income taxes		293	823
Net income		1,312	3,084
Less net income attributable to:
Redeemable noncontrolling interest		10	23
Noncontrolling interests		365	337
Net income attributable to MPC		$ 937	$ 2,724
Basic:
Net income attributable to MPC per share		$ 2.59	$ 6.13
Weighted average shares outstanding		361	444
Diluted:
Net income attributable to MPC per share		$ 2.58	$ 6.09
Weighted average shares outstanding		362	447
[1] Includes related party sales. See Note 6 for additional information.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net income	$ 1,312	$ 3,084
Other comprehensive loss	(12)	(11)
Comprehensive income	1,300	3,073
Less comprehensive income attributable to:
Redeemable noncontrolling interest	10	23
Noncontrolling interests	365	337
Comprehensive income attributable to MPC	925	2,713
Actuarial changes
Other comprehensive loss	2	2
Prior service
Other comprehensive loss	(11)	(13)
Other
Other comprehensive loss	$ (3)	$ 0

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Actuarial changes
OCI, tax expense (benefit)	$ 1	$ 1
Prior service
OCI, tax expense (benefit)	(3)	(4)
Other
OCI, tax expense (benefit)	$ (1)	$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 3,175	$ 5,443
Short-term investments	4,399	4,781
Receivables, less allowance for doubtful accounts of $50 and $44, respectively	13,171	12,187
Inventories	9,781	9,317
Other current assets	734	403
Total current assets	31,260	32,131
Equity method investments	6,831	6,260
Property, plant and equipment, net	34,963	35,112
Goodwill	8,244	8,244
Right of use assets	1,255	1,233
Other noncurrent assets	2,975	3,007
Total assets	85,528	85,987
Liabilities
Accounts payable	15,471	13,761
Payroll and benefits payable	1,180	1,115
Accrued taxes	1,243	1,221
Debt due within one year	2,457	1,954
Operating lease liabilities	472	454
Other current liabilities	964	1,645
Total current liabilities	21,787	20,150
Long-term debt	24,832	25,329
Deferred income taxes	5,831	5,834
Defined benefit postretirement plan obligations	1,182	1,102
Long-term operating lease liabilities	770	764
Deferred credits and other liabilities	1,355	1,409
Total liabilities	55,757	54,588
Commitments and contingencies (see Note 23)
Redeemable noncontrolling interest	561	895
Equity
Preferred stock, no shares issued and outstanding (par value $0.01 per share, 30 million shares authorized)	0	0
Common stock:
Issued – 993 million and 993 million shares (par value $0.01 per share, 2 billion shares authorized)	10	10
Held in treasury, at cost – 638 million and 625 million shares	(45,674)	(43,502)
Additional paid-in capital	33,530	33,465
Retained earnings	35,199	34,562
Accumulated other comprehensive loss	(143)	(131)
Total MPC stockholders’ equity	22,922	24,404
Noncontrolling interests	6,288	6,100
Total equity	29,210	30,504
Total liabilities, redeemable noncontrolling interest and equity	$ 85,528	$ 85,987

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss, current	$ 50	$ 44
Preferred stock:
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Preferred stock, par or stated value per share	$ 0.01
Preferred stock, shares authorized	30
Common stock:
Common stock, shares, issued	993	993
Common stock, par or stated value per share	$ 0.01
Common stock, shares authorized	2,000
Treasury stock, shares	(638)	(625)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024		Mar. 31, 2023
Operating activities:
Net income	$ 1,312		$ 3,084
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of deferred financing costs and debt discount	(24)		(10)
Depreciation and amortization	827		800
Pension and other postretirement benefits, net	33		14
Deferred income taxes	(35)		(5)
Net gain on disposal of assets	(20)		(3)
Income from equity method investments	(204)		(133)
Distributions from equity method investments	262		183
Changes in the fair value of derivative instruments	37		95
Changes in:
Current receivables	(964)		3,828
Inventories	(462)		(1,441)
Current liabilities and other current assets	999		(2,105)
Right of use assets and operating lease liabilities, net	1		(2)
All other, net	(230)		(248)
Net cash provided by operating activities	1,532		4,057
Investing activities:
Additions to property, plant and equipment	(585)		(457)
Acquisitions, net of cash acquired	(622)		0
Disposal of assets	1		3
Investments – acquisitions and contributions	(125)		(207)
Purchases of short-term investments	(1,661)		(2,112)
Sales of short-term investments	193		631
Maturities of short-term investments	1,885		1,162
All other, net	90		164
Net cash used in investing activities	(824)		(816)
Financing activities:
Long-term debt – borrowings	0		1,589
Long-term debt – repayments	(17)		(1,021)
Debt issuance costs	0		(15)
Issuance of common stock	11		17
Common stock repurchased	(2,218)		(3,180)
Dividends paid	(299)		(337)
Distributions to noncontrolling interests	(337)		(329)
Repurchases of noncontrolling interests	(75)		0
Redemption of noncontrolling interests - preferred units	0		(600)
All other, net	(42)		(31)
Net cash used in financing activities	(2,977)		(3,907)
Net change in cash, cash equivalents and restricted cash	(2,269)		(666)
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning balance	5,446	[1]	8,631
Cash, cash equivalents, restricted cash and restricted cash equivalents, ending balance	$ 3,177	[1]	$ 7,965
[1]Restricted cash is included in other current assets on our consolidated balance sheets.

Consolidated Statements of Equi

Consolidated Statements of Equity and Redeemable Noncontrolling Interest (Consolidated Statements of Equity) - USD ($) $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-controlling Interests
Beginning balance at Dec. 31, 2022	$ 34,119	$ 10	$ (31,841)	$ 33,402	$ 26,142	$ 2	$ 6,404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,061				2,724		337
Dividends declared on common stock	(336)				(336)
Distributions to noncontrolling interests	(306)						(306)
Other comprehensive loss	(11)					(11)
Shares repurchased	(3,238)		(3,238)
Share-based compensation	3			3			0
Equity transactions of MPLX	(597)			3	(2)		(598)
Ending balance at Mar. 31, 2023	32,695	10	(35,079)	33,408	28,528	(9)	5,837
Beginning balance at Dec. 31, 2023	30,504	10	(43,502)	33,465	34,562	(131)	6,100
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,302				937		365
Dividends declared on common stock	(299)				(299)
Distributions to noncontrolling interests	(314)						(314)
Other comprehensive loss	(12)					(12)
Shares repurchased	(2,172)		(2,172)
Share-based compensation	(9)			(7)	(1)		(1)
Equity transactions of MPLX	210			72			138
Ending balance at Mar. 31, 2024	$ 29,210	$ 10	$ (45,674)	$ 33,530	$ 35,199	$ (143)	$ 6,288

Consolidated Statements of Eq_2

Consolidated Statements of Equity and Redeemable Noncontrolling Interest (Shares of Common Stock) - shares shares in Millions	Total	Common Stock
Beginning balance at Dec. 31, 2022		990
Number of common shares issued - stock compensation		1
Ending balance at Mar. 31, 2023		991
Beginning balance at Dec. 31, 2023	993	993
Number of common shares issued - stock compensation		0
Ending balance at Mar. 31, 2024	993	993

Consolidated Statements of Eq_3

Consolidated Statements of Equity and Redeemable Noncontrolling Interest (Shares of Treasury Stock) - shares shares in Millions	Total	Treasury Stock
Beginning balance at Dec. 31, 2022		(536)
Number of shares repurchased	(25)	(25)
Ending balance at Mar. 31, 2023		(561)
Beginning balance at Dec. 31, 2023	(625)	(625)
Number of shares repurchased	(13)	(13)
Ending balance at Mar. 31, 2024	(638)	(638)

Consolidated Statements of Eq_4

Consolidated Statements of Equity and Redeemable Noncontrolling Interest (Redeemable Noncontrolling Interest) - USD ($) $ in Millions	Total	Redeemable Non-controlling Interest
Beginning balance at Dec. 31, 2022		$ 968
Net income attributable to redeemable noncontrolling interest	$ 23	23
Distributions to noncontrolling interests		(23)
Ending balance at Mar. 31, 2023		968
Beginning balance at Dec. 31, 2023	895	895
Net income attributable to redeemable noncontrolling interest	10	10
Distributions to noncontrolling interests		(23)
Equity transactions of MPLX		(321)
Ending balance at Mar. 31, 2024	$ 561	$ 561

Consolidated Statements of Eq_5

Consolidated Statements of Equity and Redeemable Noncontrolling Interest (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends declared per share of common stock (in dollars per share)	$ 0.825	$ 0.75

Description of the Business and

Description of the Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Business and Basis of Presentation	Description of the Business and Basis of Presentation Description of the Business We are a leading, integrated, downstream energy company headquartered in Findlay, Ohio. We operate the nation's largest refining system. We sell refined products to wholesale marketing customers domestically and internationally, to buyers on the spot market and to independent entrepreneurs who operate branded outlets. We also sell transportation fuel to consumers through direct dealer locations under long-term supply contracts. MPC’s midstream operations are primarily conducted through MPLX LP (“MPLX”), which owns and operates crude oil and light product transportation and logistics infrastructure as well as gathering, processing and fractionation assets. We own the general partner and a majority limited partner interest in MPLX. See Note 4. Basis of Presentation These interim consolidated financial statements are unaudited; however, in the opinion of our management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal, recurring nature unless otherwise disclosed. These interim consolidated financial statements, including the notes, have been prepared in accordance with the rules of the SEC applicable to interim period financial statements and do not include all of the information and disclosures required by GAAP for complete financial statements. Certain information and disclosures derived from our audited annual financial statements, prepared in accordance with GAAP, have been condensed or omitted from these interim financial statements. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023. The results of operations for the three months ended March 31, 2024 are not necessarily indicative of the results to be expected for the full year. These consolidated financial statements include the accounts of our majority-owned, controlled subsidiaries, including MPLX. All significant intercompany transactions and accounts have been eliminated. Due to our ownership of the general partner interest of MPLX, we have determined that we control MPLX and therefore we consolidate MPLX and record a noncontrolling interest for the interest owned by the public. Changes in ownership interest in consolidated subsidiaries that do not result in a change in control are recorded as equity transactions. Investments in entities over which we have significant influence, but not control, are accounted for using the equity method of accounting. This includes entities in which we hold majority ownership but the minority shareholders have substantive participating rights. Certain prior period financial statement amounts have been reclassified to conform to current period presentation.

Accounting Standards

Accounting Standards	3 Months Ended
	Mar. 31, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Standards	Accounting Standards and Disclosure Rules Recently Adopted During the first quarter of 2024, we adopted ASU 2023-01, Leases (Topic 842): Common Control Arrangements . The adoption of this ASU did not have a material impact on our financial statements or disclosures. Not Yet Adopted SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors In March 2024, the SEC adopted rules under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors, which requires registrants to provide certain climate-related information in their annual reports. As part of the disclosures, material impacts from severe weather events and other natural conditions will be required in the audited financial statements. In April 2024, the SEC voluntarily stayed the rules pending judicial review. Pending the results of the judicial review, the disclosure requirements are effective for the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025. We are evaluating the impact these rules will have on our disclosures and monitoring the status of the judicial review. ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In December 2023, the FASB issued an ASU to update income tax disclosure requirements to provide consistent categories and greater disaggregation of information in the rate reconciliation and to disaggregate income taxes paid by jurisdiction. This ASU is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied on a prospective basis, but retrospective application is permitted. We are currently evaluating the impact this ASU will have on our disclosures. ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In November 2023, the FASB issued an ASU to update reportable segment disclosure requirements primarily by requiring enhanced disclosures about significant segment expenses. This ASU is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact this ASU will have on our disclosures.

Short-term Investments

Short-term Investments	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Short-term Investments	Short-Term Investments Investments Components The components of investments were as follows: March 31, 2024 (Millions of dollars) Fair Value Level Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Short-term Investments Available-for-sale debt securities Commercial paper Level 2 $ 2,774 $ — $ (1) $ 2,773 $ 210 $ 2,563 Certificates of deposit and time deposits Level 2 1,256 — (1) 1,255 224 1,031 U.S. government securities Level 1 637 — (1) 636 — 636 Corporate notes and bonds Level 2 169 — — 169 — 169 Total available-for-sale debt securities $ 4,836 $ — $ (3) $ 4,833 $ 434 $ 4,399 Cash 2,741 2,741 — Total $ 7,574 $ 3,175 $ 4,399 December 31, 2023 (Millions of dollars) Fair Value Level Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Short-term Investments Available-for-sale debt securities Commercial paper Level 2 $ 3,154 $ 2 $ — $ 3,156 $ 281 $ 2,875 Certificates of deposit and time deposits Level 2 1,836 1 — 1,837 800 1,037 U.S. government securities Level 1 785 — (1) 784 — 784 Corporate notes and bonds Level 2 85 — — 85 — 85 Total available-for-sale debt securities $ 5,860 $ 3 $ (1) $ 5,862 $ 1,081 $ 4,781 Cash 4,362 4,362 — Total $ 10,224 $ 5,443 $ 4,781 Our investment policy includes concentration limits and credit rating requirements which limit our investments to high quality, short term and highly liquid securities. Realized gains/losses were not material. All of our available-for-sale debt securities held as of March 31, 2024 mature within one year or less or are readily available for use.

Master Limited Partnership

Master Limited Partnership	3 Months Ended
	Mar. 31, 2024
Noncontrolling Interest [Abstract]
Master Limited Partnership	Master Limited Partnership We own the general partner and a majority limited partner interest in MPLX, which owns and operates crude oil and light product transportation and logistics infrastructure as well as gathering, processing and fractionation assets. We control MPLX through our ownership of the general partner interest and, as of March 31, 2024, we owned approximately 64 percent of the outstanding MPLX common units compared to 65 percent as of December 31, 2023. Our ownership was impacted by changes in the redeemable non-controlling interest. Unit Repurchase Program On August 2, 2022 , MPLX announced its board of directors approved a $1.0 billion unit repurchase authorization. This u nit repurchase authorization has no expiration date. MPLX may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, accelerated unit repurchases, tender offers or open market solicitations for units, some of which may be effected through Rule 10b5-1 plans. The timing and amount of future repurchases, if any, will depend upon several factors, including market and business conditions, and such repurchases may be suspended, discontinued or restarted at any time. Total unit repurchases were as follows for the respective periods: Three Months Ended (In millions, except per unit data) 2024 2023 Number of common units repurchased 2 — Cash paid for common units repurchased $ 75 $ — Average cost per unit $ 40.04 $ — As of March 31, 2024, MPLX had approximately $771 million remaining under its unit repurchase authorization. Redemption of the Series B Preferred Units On February 15, 2023, MPLX exercised its right to redeem all of its 600,000 outstanding preferred units (the “Series B preferred units”). MPLX paid unitholders the Series B preferred unit redemption price of $1,000 per unit. The final semi-annual distribution on the Series B preferred units was paid on February 15, 2023 in the usual manner. The excess of the total redemption price of $600 million paid to Series B preferred unitholders over the carrying value of the Series B preferred units on the redemption date resulted in a $2 million net reduction to retained earnings. Agreements We have various long-term, fee-based commercial agreements with MPLX. Under these agreements, MPLX provides transportation, storage, distribution and marketing services to us. With certain exceptions, these agreements generally contain minimum volume commitments. These transactions are eliminated in consolidation but are reflected as intersegment transactions between our Refining & Marketing and Midstream segments. We also have agreements with MPLX that establish fees for operational and management services provided between us and MPLX and for executive management services and certain general and administrative services provided by us to MPLX. These transactions are eliminated in consolidation but are reflected as intersegment transactions between corporate and our Midstream segment. Noncontrolling Interest As a result of equity transactions of MPLX, we are required to adjust non-controlling interest and additional paid-in capital. Changes in MPC’s additional paid-in capital resulting from changes in its ownership interests in MPLX were as follows: Three Months Ended (Millions of dollars) 2024 2023 Increase due to change in ownership $ 108 $ 1 Tax impact (36) 2 Increase in MPC's additional paid-in capital, net of tax $ 72 $ 3

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Consolidated VIE We control MPLX through our ownership of its general partner. MPLX is a VIE because the limited partners do not have substantive kick-out or participating rights over the general partner. We are the primary beneficiary of MPLX because in addition to our significant economic interest, we also have the ability, through our ownership of the general partner, to control the decisions that most significantly impact MPLX. We therefore consolidate MPLX and record a noncontrolling interest for the interest owned by the public. We also record a redeemable noncontrolling interest related to MPLX’s Series A preferred units. The creditors of MPLX do not have recourse to MPC’s general credit through guarantees or other financial arrangements, except as noted. MPC has effectively guaranteed certain indebtedness of LOOP LLC (“LOOP”) and LOCAP LLC (“LOCAP”), in which MPLX holds an interest. See Note 23 for more information. The assets of MPLX can only be used to settle its own obligations and its creditors have no recourse to our assets, except as noted earlier. The following table presents balance sheet information for the assets and liabilities of MPLX, which are included in our consolidated balance sheets. (Millions of dollars) March 31, December 31, Assets Cash and cash equivalents $ 385 $ 1,048 Receivables, less allowance for doubtful accounts 766 836 Inventories 163 159 Other current assets 36 33 Equity method investments 4,343 3,743 Property, plant and equipment, net 19,299 19,264 Goodwill 7,645 7,645 Right of use assets 290 264 Other noncurrent assets 1,594 1,644 Liabilities Accounts payable $ 601 $ 723 Accrued taxes 71 79 Debt due within one year 1,639 1,135 Operating lease liabilities 50 45 Other current liabilities 304 336 Long-term debt 18,805 19,296 Deferred income taxes 16 16 Long-term operating lease liabilities 231 211 Deferred credits and other liabilities 485 476

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Transactions with related parties were as follows: Three Months Ended (Millions of dollars) 2024 2023 Sales to related parties $ 271 $ 189 Purchases from related parties 580 311 Sales to related parties, which are included in sales and other operating revenues, consist primarily of refined product sales and renewable feedstock sales to certain of our equity affiliates.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings (Loss) per Share	Earnings Per Share We compute basic earnings per share by dividing net income attributable to MPC less income allocated to participating securities by the weighted average number of shares of common stock outstanding. Since MPC grants certain incentive compensation awards to employees and non-employee directors that are considered to be participating securities, we have calculated our earnings per share using the two-class method. Diluted income per share assumes exercise of certain share-based compensation awards, provided the effect is not anti-dilutive. Three Months Ended (In millions, except per share data) 2024 2023 Net income $ 1,312 $ 3,084 Net income attributable to noncontrolling interest (375) (360) Net income allocated to participating securities (1) (2) Redemption of preferred units — (2) Income available to common stockholders $ 936 $ 2,720 Weighted average common shares outstanding: Basic 361 444 Effect of dilutive securities 1 3 Diluted 362 447 Income available to common stockholders per share: Basic: Net income attributable to MPC per share $ 2.59 $ 6.13 Diluted: Net income attributable to MPC per share $ 2.58 $ 6.09 The following table summarizes the shares that were anti-dilutive and, therefore, were excluded from the diluted share calculation. Three Months Ended (In millions) 2024 2023 Shares issuable under share-based compensation plans — —

Equity

Equity	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Equity	Equity On October 25, 2023, MPC announced that our board of directors approved a $5.0 billion share repurchase authorization in addition to the $5.0 billion share repurchase authorizations announced on January 31, 2023 and May 2, 2023. As of March 31, 2024, $4.63 billion remained available for repurchase under these share repurchase authorizations. These share repurchase authorizations have no expiration date. We may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, accelerated share repurchases, tender offers or open market solicitations for shares, some of which may be effected through Rule 10b5-1 plans. The timing and amount of future repurchases, if any, will depend upon several factors, including market and business conditions, and such repurchases may be suspended, discontinued or restarted at any time. Total share repurchases were as follows for the respective periods: Three Months Ended (In millions, except per share data) 2024 2023 Number of shares repurchased 13 25 Cash paid for shares repurchased $ 2,218 $ 3,180 Average cost per share (a) $ 168.05 $ 126.56 (a) The average cost per share includes excise tax on share repurchases resulting from the Inflation Reduction Act of 2022, but does not reduce the share repurchase authorization .

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information We have two reportable segments: Refining & Marketing and Midstream. Each of these segments is organized and managed based upon the nature of the products and services it offers. • Refining & Marketing – refines crude oil and other feedstocks, including renewable feedstocks, at our refineries in the Gulf Coast, Mid-Continent and West Coast regions of the United States, purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution and marketing services provided largely by our Midstream segment. We sell refined products to wholesale marketing customers domestically and internationally, to buyers on the spot market, to independent entrepreneurs who operate primarily Marathon ® branded outlets and through long-term fuel supply contracts with direct dealers who operate locations mainly under the ARCO ® brand. • Midstream – gathers, transports, stores and distributes crude oil, refined products, including renewable diesel, and other hydrocarbon-based products principally for the Refining & Marketing segment via refining logistics assets, pipelines, terminals, towboats and barges; gathers, processes and transports natural gas; and transports, fractionates, stores and markets NGLs. The Midstream segment primarily reflects the results of MPLX. Our chief operating decision maker (“CODM”) evaluates the performance of our segments using segment adjusted EBITDA. Our CODM is the chief executive officer. Amounts included in income before income taxes and excluded from segment adjusted EBITDA include: (i) depreciation and amortization; (ii) net interest and other financial costs; (iii) turnaround expenses and (iv) other adjustments as deemed necessary. These items are either: (i) believed to be non-recurring in nature; (ii) not believed to be allocable or controlled by the segment; or (iii) not tied to the operational performance of the segment. Assets by segment are not a measure used to assess the performance of the company by the CODM and thus are not reported in our disclosures. Three Months Ended (Millions of dollars) 2024 2023 Segment adjusted EBITDA for reportable segments Refining & Marketing $ 1,874 $ 3,853 Midstream 1,589 1,530 Total reportable segments $ 3,463 $ 5,383 Reconciliation of segment adjusted EBITDA for reportable segments to income before income taxes Total reportable segments $ 3,463 $ 5,383 Corporate (204) (165) Refining planned turnaround costs (648) (357) Depreciation and amortization (827) (800) Net interest and other financial costs (179) (154) Income before income taxes $ 1,605 $ 3,907 Three Months Ended (Millions of dollars) 2024 2023 Sales and other operating revenues Refining & Marketing Revenues from external customers (a) $ 31,485 $ 33,663 Intersegment revenues 37 27 Refining & Marketing segment revenues 31,522 33,690 Midstream Revenues from external customers (a) 1,221 1,201 Intersegment revenues 1,403 1,362 Midstream segment revenues 2,624 2,563 Total segment revenues 34,146 36,253 Less: intersegment revenues 1,440 1,389 Consolidated sales and other operating revenues (a) $ 32,706 $ 34,864 (a) Includes related party sales. See Note 6 for additional information. Three Months Ended (Millions of dollars) 2024 2023 Income (loss) from equity method investments Refining & Marketing $ 23 $ (36) Midstream 181 169 Consolidated income from equity method investments $ 204 $ 133 Depreciation and amortization Refining & Marketing $ 460 $ 464 Midstream 343 317 Corporate 24 19 Consolidated depreciation and amortization $ 827 $ 800 Capital expenditures Refining & Marketing $ 291 $ 421 Midstream 327 241 Segment capital expenditures and investments 618 662 Less investments in equity method investees 125 207 Plus: Corporate 6 7 Capitalized interest 12 21 Consolidated capital expenditures (a) $ 511 $ 483 (a) Includes changes in capital expenditure accruals. See Note 19 for a reconciliation of total capital expenditures to additions to property, plant and equipment for the three months ended March 31, 2024 and 2023 as reported in the consolidated statements of cash flows.

Net Interest and Other Financia

Net Interest and Other Financial Costs	3 Months Ended
	Mar. 31, 2024
Other Income and Expenses [Abstract]
Net Interest and Other Financial Costs	Net Interest and Other Financial Costs Net interest and other financial costs were as follows: Three Months Ended (Millions of dollars) 2024 2023 Interest income $ (101) $ (121) Interest expense 341 334 Interest capitalized (12) (23) Pension and other postretirement non-service costs (a) (11) (23) Loss on extinguishment of debt — 9 Investments - net premium (discount) amortization (39) (28) Other financial costs 1 6 Net interest and other financial costs $ 179 $ 154 (a) See Note 22.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We recorded a combined federal, state and foreign income tax provision of $293 million for the three months ended March 31, 2024, which was lower than the U.S. statutory rate primarily due to permanent tax benefits related to net income attributable to noncontrolling interests offset by state taxes. We recorded a combined federal, state and foreign income tax provision of $823 million for the three months ended March 31, 2023, which was higher than the U.S. statutory rate primarily due to state taxes offset by permanent tax benefits related to net income attributable to noncontrolling interests.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories (Millions of dollars) March 31, December 31, Crude oil $ 3,434 $ 3,211 Refined products 5,273 4,940 Materials and supplies 1,074 1,166 Total $ 9,781 $ 9,317

Equity Method Investments

Equity Method Investments	3 Months Ended
	Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	Equity Method Investments Midstream Acquisition On March 22, 2024, MPLX used $625 million of cash on hand to purchase additional ownership interest in existing joint ventures and gathering assets which will enhance our position in the Utica basin. Prior to the acquisition, MPLX owned an indirect interest in Ohio Gathering Company, L.L.C. (“OGC”) and a direct interest in Ohio Condensate Company, L.L.C. (“OCC”) and now owns a combined 73 percent interest in OGC and a 100 percent interest in OCC, and a dry gas gathering system in the Utica basin. OGC continues to be accounted for as an equity method investment as MPLX did not obtain control of OGC as a result of the transaction. OGC is considered a VIE as MPLX is not deemed to be the primary beneficiary due to voting rights on significant matters. The acquisition date fair value of our investment in OGC exceeded our portion of the underlying net assets of the joint venture by approximately $86 million. OCC was previously accounted for as an equity method investment, and it is now consolidated and included in our consolidated financial results. The acquisition was accounted for as a business combination requiring all the acquired assets and liabilities to be remeasured to fair value resulting in a consolidated fair value of net assets and liabilities of $625 million. The preliminary determination of the fair value includes $518 million related to acquired interests in the joint ventures and the remaining balance related to other acquired assets and liabilities. The revaluation of MPLX’s existing 62 percent equity method investment in OCC resulted in a $20 million gain, which is included in the net gain on disposal of assets line of the accompanying consolidated statements of income. The fair value of equity method investments was based on a discounted cash flow model. LF Bioenergy Acquisition On March 8, 2023, MPC announced the acquisition of a 49.9 percent interest in LF Bioenergy, an emerging producer of renewable natural gas (“RNG”) in the U.S., for approximately $56 million, which included funding for on-going operations and project development. LF Bioenergy has been focused on developing and growing a portfolio of dairy farm-based, low carbon intensity RNG projects. LF Bioenergy is a VIE since it is unable to fund its operations without financial support from its equity owners. We are not the primary beneficiary of this VIE because we do not have the ability to control the activities that significantly influence the economic outcomes of the entity and, therefore, do not consolidate the entity. MPC accounts for our ownership interest in LF Bioenergy as an equity method investment.

Property, Plant and Equipment (

Property, Plant and Equipment (PP&E)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment (PP&E) March 31, 2024 December 31, 2023 (Millions of dollars) Gross Accumulated Depreciation Net Gross Accumulated Depreciation Net Refining & Marketing $ 32,441 $ 18,099 $ 14,342 $ 32,496 $ 17,992 $ 14,504 Midstream 29,950 9,889 20,061 29,620 9,589 20,031 Corporate 1,638 1,078 560 1,632 1,055 577 Total $ 64,029 $ 29,066 $ 34,963 $ 63,748 $ 28,636 $ 35,112

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Values—Recurring The following tables present assets and liabilities accounted for at fair value on a recurring basis as of March 31, 2024 and December 31, 2023 by fair value hierarchy level. We have elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty, including any related cash collateral as shown below; however, fair value amounts by hierarchy level are presented on a gross basis in the following tables. March 31, 2024 Fair Value Hierarchy (Millions of dollars) Level 1 Level 2 Level 3 Netting and Collateral (a) Net Carrying Value on Balance Sheet (b) Collateral Pledged Not Offset Assets: Commodity contracts $ 197 $ — $ — $ (197) $ — $ 67 Liabilities: Commodity contracts $ 231 $ — $ — $ (231) $ — $ — Embedded derivatives in commodity contracts — — 69 — 69 — December 31, 2023 Fair Value Hierarchy (Millions of dollars) Level 1 Level 2 Level 3 Netting and Collateral (a) Net Carrying Value on Balance Sheet (b) Collateral Pledged Not Offset Assets: Commodity contracts $ 244 $ — $ — $ (220) $ 24 $ 73 Liabilities: Commodity contracts $ 249 $ — $ — $ (249) $ — $ — Embedded derivatives in commodity contracts — — 61 — 61 — (a) Represents the impact of netting assets, liabilities and cash collateral when a legal right of offset exists. As of March 31, 2024, cash collateral of $34 million was netted with mark-to-market derivative liabilities. As of December 31, 2023, cash collateral of $29 million was netted with mark-to-market derivative liabilities. (b) We have no derivative contracts which are subject to master netting arrangements reflected gross on the balance sheet. Level 3 instruments relate to an embedded derivative liability for a natural gas purchase commitment embedded in a keep‑whole processing agreement. The fair value calculation for these Level 3 instruments at March 31, 2024 used significant unobservable inputs including: (1) NGL prices interpolated and extrapolated due to inactive markets ranging from $0.66 to $1.61 per gallon with a weighted average of $0.83 per gallon and (2) the probability of renewal of 100 percent for the five The following is a reconciliation of the beginning and ending balances recorded for net liabilities classified as Level 3 in the fair value hierarchy. Three Months Ended (Millions of dollars) 2024 2023 Beginning balance $ 61 $ 61 Unrealized and realized loss included in net income (a) 12 — Settlements of derivative instruments (4) (3) Ending balance $ 69 $ 58 The amount of total loss for the period included in earnings attributable to the change in unrealized loss relating to liabilities still held at the end of period (a) : $ 11 $ — (a) The loss is included in cost of revenues Fair Values – Non-recurring Non-recurring fair value measurements and disclosures in 2024 relate to the purchase of additional ownership interest in existing joint ventures and gathering assets as discussed in Note 13. Fair Values – Reported We believe the carrying value of our other financial instruments, including cash and cash equivalents, receivables, accounts payable and certain accrued liabilities, approximate fair value. Our fair value assessment incorporates a variety of considerations, including the short-term duration of the instruments and the expected insignificance of bad debt expense, which includes an evaluation of counterparty credit risk. The borrowings under our revolving credit facilities, which include variable interest rates, approximate fair value. The fair value of our long-term debt is based on prices from recent trade activity and is categorized in level 3 of the fair value hierarchy. The carrying and fair values of our debt were approximately $27.0 billion and $25.3 billion at March 31, 2024, respectively, and approximately $27.0 billion and $25.5 billion at December 31, 2023, respectively. These carrying and fair values of our debt exclude the unamortized issuance costs which are netted against our total debt.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives For further information regarding the fair value measurement of derivative instruments, including any effect of master netting agreements or collateral, see Note 15. We do not designate any of our commodity derivative instruments as hedges for accounting purposes. Derivatives that are not designated as accounting hedges may include commodity derivatives used to hedge price risk on (1) inventories, (2) fixed price sales of refined products, (3) the acquisition of foreign-sourced crude oil, (4) the acquisition of ethanol for blending with refined products, (5) the sale of NGLs, (6) the purchase of natural gas and (7) the purchase of soybean oil. The following table presents the fair value of derivative instruments as of March 31, 2024 and December 31, 2023 and the line items in the consolidated balance sheets in which the fair values are reflected. The fair value amounts below are presented on a gross basis and do not reflect the netting of asset and liability positions permitted under the terms of our master netting arrangements including cash collateral on deposit with, or received from, brokers. We offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of offset exists. As a result, the asset and liability amounts below will not agree with the amounts presented in our consolidated balance sheets. (Millions of dollars) March 31, 2024 December 31, 2023 Balance Sheet Location Asset Liability Asset Liability Commodity derivatives Other current assets $ 197 $ 231 $ 244 $ 249 Other current liabilities (a) — 13 — 11 Deferred credits and other liabilities (a) — 56 — 50 (a) Includes embedded derivatives. The table below summarizes open commodity derivative contracts for crude oil, refined products, blending products and soybean oil as of March 31, 2024. Percentage of contracts Position (Units in thousands of barrels) Long Short Exchange-traded (a) Crude oil 68.1% 44,665 52,077 Refined products 94.8% 19,575 20,404 Blending products 80.1% 7,186 3,983 Soybean oil 67.3% 4,282 4,806 (a) Included in exchange-traded are spread contracts in thousands of barrels: Crude oil - 12,308 long and 12,188 short; Refined products - 445 long and 614 short. There are no spread contracts for blending products or soybean oil. The following table summarizes the effect of all commodity derivative instruments in our consolidated statements of income: Gain (Loss) (Millions of dollars) Three Months Ended Income Statement Location 2024 2023 Sales and other operating revenues $ — $ 2 Cost of revenues (74) 61 Other income — 1 Total $ (74) $ 64

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt Our outstanding borrowings at March 31, 2024 and December 31, 2023 consisted of the following: (Millions of dollars) March 31, December 31, Marathon Petroleum Corporation: Senior notes $ 6,449 $ 6,449 Notes payable 1 1 Finance lease obligations 457 464 Total 6,907 6,914 MPLX LP: Senior notes 20,700 20,700 Finance lease obligations 6 6 Total 20,706 20,706 Total debt 27,613 27,620 Unamortized debt issuance costs (138) (141) Unamortized discount, net of unamortized premium (186) (196) Amounts due within one year (2,457) (1,954) Total long-term debt due after one year $ 24,832 $ 25,329 Available Capacity under our Credit Facilities as of March 31, 2024 (Millions of dollars) Total Outstanding Outstanding Available Weighted Expiration MPC, excluding MPLX MPC bank revolving credit facility $ 5,000 $ — $ 1 $ 4,999 — % July 2027 MPC trade receivables securitization facility (a) 100 — — 100 — September 2024 MPLX MPLX bank revolving credit facility 2,000 — — 2,000 — % July 2027 (a) The committed borrowing and letter of credit issuance capacity under the trade receivables securitization facility is $100 million. In addition, the facility allows for the issuance of letters of credit in excess of the committed capacity at the discretion of the issuing banks.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following table presents our revenues from external customers disaggregated by segment and product line. Three Months Ended (Millions of dollars) 2024 2023 Refining & Marketing Refined products $ 29,247 $ 31,923 Crude oil 1,788 1,330 Services and other 450 410 Total revenues from external customers 31,485 33,663 Midstream Refined products 373 420 Services and other 848 781 Total revenues from external customers 1,221 1,201 Sales and other operating revenues $ 32,706 $ 34,864 We do not disclose information on the future performance obligations for any contract with expected duration of one year or less at inception. As of March 31, 2024, we do not have future performance obligations that are material to future periods. Receivables On the accompanying consolidated balance sheets, receivables, less allowance for doubtful accounts primarily consists of customer receivables. Significant, non-customer balances included in our receivables at March 31, 2024 include matching buy/sell receivables of $5.43 billion.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Three Months Ended (Millions of dollars) 2024 2023 Net cash provided by operating activities included: Interest paid (net of amounts capitalized) $ 359 $ 342 Net income taxes paid to (received from) taxing authorities (22) (18) The consolidated statements of cash flows exclude changes to the consolidated balance sheets that did not affect cash. The following is a reconciliation of additions to property, plant and equipment to total capital expenditures: Three Months Ended (Millions of dollars) 2024 2023 Additions to property, plant and equipment per the consolidated statements of cash flows $ 585 $ 457 Increase (decrease) in capital accruals (74) 26 Total capital expenditures $ 511 $ 483

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Mar. 31, 2024
Other Liabilities Disclosure [Abstract]
Other Liabilities Disclosure	Other Current Liabilities The following summarizes the components of other current liabilities: (Millions of dollars) March 31, December 31, Environmental credits liability $ 331 $ 778 Accrued interest payable 258 316 Other current liabilities 375 551 Total other current liabilities $ 964 $ 1,645

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Income (Loss) The following table shows the changes in accumulated other comprehensive income (loss) by component. Amounts in parentheses indicate debits. (Millions of dollars) Pension Benefits Other Benefits Other Total Balance as of December 31, 2022 $ (163) $ 165 $ — $ 2 Other comprehensive gain before reclassifications, net of tax of $1 — 3 — 3 Amounts reclassified from accumulated other comprehensive loss: Amortization of prior service credit (a) (11) (5) — (16) Amortization of actuarial gain (a) (2) — — (2) Tax effect 3 1 — 4 Other comprehensive loss (10) (1) — (11) Balance as of March 31, 2023 $ (173) $ 164 $ — $ (9) (Millions of dollars) Pension Benefits Other Benefits Other Total Balance as of December 31, 2023 $ (261) $ 129 $ 1 $ (131) Other comprehensive gain (loss) before reclassifications, net of tax of $(1) 2 (1) (3) (2) Amounts reclassified from accumulated other comprehensive loss: Amortization of prior service credit (a) (8) (5) — (13) Amortization of actuarial loss (a) 1 — — 1 Tax effect 1 1 — 2 Other comprehensive loss (4) (5) (3) (12) Balance as of March 31, 2024 $ (265) $ 124 $ (2) $ (143) (a) These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost. See Note 22.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Pension and Other Postretirement Plans	Pension and Other Postretirement Benefits The following summarizes the components of net periodic benefit costs: Three Months Ended (Millions of dollars) 2024 2023 Pension Benefits Service cost $ 54 $ 49 Interest cost 30 29 Expected return on plan assets (37) (42) Amortization of prior service credit (8) (11) Amortization of actuarial (gain) loss 1 (2) Net periodic pension benefit cost $ 40 $ 23 Other Benefits Service cost $ 5 $ 5 Interest cost 8 8 Amortization of prior service credit (5) (5) Net periodic other benefit cost $ 8 $ 8 The components of net periodic benefit cost, other than the service cost component, are included in net interest and other financial costs on the consolidated statements of income. During the three months ended March 31, 2024, we made no contributions to our funded pension plans. Benefit payments related to unfunded pension and other postretirement benefit plans were $3 million and $12 million, respectively, during the three months ended March 31, 2024.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are the subject of, or a 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. Some of these matters are discussed below. For matters for which we have not recorded a liability, we are unable to estimate a range of possible loss because the issues involved have not been fully developed through pleadings, discovery or court proceedings. However, the ultimate resolution of some of these contingencies could, individually or in the aggregate, be material. Environmental Matters We are subject to federal, state, local and foreign laws and regulations relating to the environment. These laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites and certain other locations including presently or formerly owned or operated retail marketing sites. Penalties may be imposed for noncompliance. At March 31, 2024 and December 31, 2023, accrued liabilities for remediation totaled $375 million and $387 million, respectively. It is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties, if any, that may be imposed. Receivables for recoverable costs from certain states, under programs to assist companies in clean-up efforts related to underground storage tanks at presently or formerly owned or operated retail marketing sites, were $5 million at both March 31, 2024 and December 31, 2023. Governmental and other entities in various states have filed climate-related lawsuits against a number of energy companies, including MPC. Although each suit is separate and unique, the lawsuits generally allege defendants made knowing misrepresentations about knowingly concealing, or failing to warn of the impacts of their petroleum products which led to increased demand and worsened climate change. Plaintiffs are seeking unspecified damages and abatement under various tort theories, as well as breaches of consumer protection and unfair trade statutes. We are currently subject to such proceedings in federal or state courts in California, Delaware, Maryland, Hawaii, Rhode Island, South Carolina and Oregon. Similar lawsuits may be filed in other jurisdictions. At this early stage, the ultimate outcome of these matters remains uncertain, and neither the likelihood of an unfavorable outcome nor the ultimate liability, if any, can be determined. We are involved in a number of environmental enforcement matters arising in the ordinary course of business. While the outcome and impact on us cannot be predicted with certainty, management believes the resolution of these environmental matters will not, individually or collectively, have a material adverse effect on our consolidated results of operations, financial position or cash flows. Other Legal Proceedings In July 2020, Tesoro High Plains Pipeline Company, LLC (“THPP”), a subsidiary of MPLX, received a Notification of Trespass Determination from the Bureau of Indian Affairs (“BIA”) relating to a portion of the Tesoro High Plains Pipeline that crosses the Fort Berthold Reservation in North Dakota. The notification demanded the immediate cessation of pipeline operations and assessed trespass damages of approximately $187 million. After subsequent appeal proceedings and in compliance with a new order issued by the BIA, in December 2020, THPP paid approximately $4 million in assessed trespass damages and ceased use of the portion of the pipeline that crosses the property at issue. In March 2021, the BIA issued an order purporting to vacate the BIA’s prior orders related to THPP’s alleged trespass and direct the Regional Director of the BIA to reconsider the issue of THPP’s alleged trespass and issue a new order. In April 2021, THPP filed a lawsuit in the District of North Dakota against the United States of America, the U.S. Department of the Interior and the BIA (collectively, the “U.S. Government Parties”) challenging the March 2021 order purporting to vacate all previous orders related to THPP’s alleged trespass. On February 8, 2022, the U.S. Government Parties filed their answer and counterclaims to THPP’s suit claiming THPP is in continued trespass with respect to the pipeline and seek disgorgement of pipeline profits from June 1, 2013 to present, removal of the pipeline and remediation. On November 8, 2023, the District Court of North Dakota granted THPP’s motion to sever and stay the U.S. Government Parties’ counterclaims. The case will proceed on the merits of THPP’s challenge to the March 2021 order purporting to vacate all previous orders related to THPP’s alleged trespass. THPP continues not to operate that portion of the pipeline that crosses the property at issue. We are also a party to a number of other lawsuits and other proceedings arising in the ordinary course of business. While the ultimate outcome and impact to us cannot be predicted with certainty, we believe that the resolution of these other lawsuits and proceedings will not, individually or collectively, have a material adverse effect on our consolidated financial position, results of operations or cash flows. Guarantees We have provided certain guarantees, direct and indirect, of the indebtedness of other companies. Under the terms of most of these guarantee arrangements, we would be required to perform should the guaranteed party fail to fulfill its obligations under the specified arrangements. In addition to these financial guarantees, we also have various performance guarantees related to specific agreements. Guarantees related to indebtedness of equity method investees LOOP and LOCAP MPC and MPLX hold interests in an offshore oil port, LOOP, and MPLX holds an interest in a crude oil pipeline system, LOCAP. Both LOOP and LOCAP have secured various project financings with throughput and deficiency agreements. Under the agreements, MPC, as a shipper, is required to advance funds if the investees are unable to service their debt. Any such advances are considered prepayments of future transportation charges. The duration of the agreements varies but tend to follow the terms of the underlying debt, which extend through 2040. Our maximum potential undiscounted payments under these agreements for the debt principal totaled $222 million as of March 31, 2024. Dakota Access Pipeline MPLX holds a 9.19 percent indirect interest in Dakota Access, which owns and operates the Bakken Pipeline system. In 2020, the U.S. District Court for the District of Columbia (the “D.D.C.”) ordered the U.S. Army Corps of Engineers (“Army Corps”), which granted permits and an easement for the Bakken Pipeline system, to prepare an environmental impact statement (“EIS”) relating to an easement under Lake Oahe in North Dakota. The D.D.C. later vacated the easement. The Army Corps issued a draft EIS in September 2023 detailing various options for the easement going forward, including denying the easement, approving the easement with additional measures, rerouting the easement, or approving the easement with no changes. The Army Corps has not selected a preferred alternative, but will make a decision in its final review, after considering input from the public and other agencies. The pipeline remains operational while the Army Corps finalizes its decision which is expected to be issued by the end of 2024. MPLX has entered into a Contingent Equity Contribution Agreement whereby it, along with the other joint venture owners in the Bakken Pipeline system, has agreed to make equity contributions to the joint venture upon certain events occurring to allow the entities that own and operate the Bakken Pipeline system to satisfy their senior note payment obligations. The senior notes were issued to repay amounts owed by the pipeline companies to fund the cost of construction of the Bakken Pipeline system. If the vacatur of the easement results in a temporary shutdown of the pipeline, MPLX would have to contribute its 9.19 percent pro rata share of funds required to pay interest accruing on the notes and any portion of the principal that matures while the pipeline is shutdown. MPLX also expects to contribute its 9.19 percent pro rata share of any costs to remediate any deficiencies to reinstate the easement and/or return the pipeline into operation. If the vacatur of the easement results in a permanent shutdown of the pipeline, MPLX would have to contribute its 9.19 percent pro rata share of the cost to redeem the bonds (including the 1 percent redemption premium required pursuant to the indenture governing the notes) and any accrued and unpaid interest. As of March 31, 2024, our maximum potential undiscounted payments under the Contingent Equity Contribution Agreement were approximately $170 million. Crowley Blue Water Partners LLC In connection with our 50 percent indirect interest in Crowley Blue Water Partners LLC, we have agreed to provide a conditional guarantee of up to 50 percent of its outstanding debt balance in the event there is no charter agreement in place with an investment grade customer for the entity’s three vessels as well as other financial support in certain circumstances. The terms of the underlying debt extend through 2038. As of March 31, 2024, our maximum potential undiscounted payments under this arrangement were $91 million. Other guarantees We have entered into other guarantees with maximum potential undiscounted payments totaling $114 million as of March 31, 2024, which primarily consist of a commitment to contribute cash to an equity method investee for certain catastrophic events in lieu of procuring insurance coverage, a commitment to fund a share of the bonds issued by a government entity for construction of public utilities in the event that other industrial users of the facility default on their utility payments, a commitment to pay a termination fee on a supply agreement if terminated during the initial term, and leases of assets containing general lease indemnities and guaranteed residual values. Contractual Commitments and Contingencies

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Additional $5 Billion Share Repurchase Authorization On April 30, 2024, we announced that our board of directors approved an additional $5.0 billion share repurchase authorization. The authorization has no expiration date. We may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, accelerated share repurchases, tender offers or open market solicitations for shares, some of which may be effected through Rule 10b5-1 plans. The timing of repurchases will depend upon several factors, including market and business conditions, and repurchases may be suspended, discontinued or restarted at any time.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 937	$ 2,724

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the quarter ended March 31, 2024, no director or officer (as defined in Rule 16a-1(f) promulgated under the Exchange Act) of MPC adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement” (as each term is defined in Item 408 of Regulation S-K).
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of the Business a_2

Description of the Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of estimates	These interim consolidated financial statements are unaudited; however, in the opinion of our management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal, recurring nature unless otherwise disclosed. These interim consolidated financial statements, including the notes, have been prepared in accordance with the rules of the SEC applicable to interim period financial statements and do not include all of the information and disclosures required by GAAP for complete financial statements. Certain information and disclosures derived from our audited annual financial statements, prepared in accordance with GAAP, have been condensed or omitted from these interim financial statements.
Consolidation	These consolidated financial statements include the accounts of our majority-owned, controlled subsidiaries, including MPLX. All significant intercompany transactions and accounts have been eliminated. Due to our ownership of the general partner interest of MPLX, we have determined that we control MPLX and therefore we consolidate MPLX and record a noncontrolling interest for the interest owned by the public. Changes in ownership interest in consolidated subsidiaries that do not result in a change in control are recorded as equity transactions. Investments in entities over which we have significant influence, but not control, are accounted for using the equity method of accounting. This includes entities in which we hold majority ownership but the minority shareholders have substantive participating rights.
Inventories	Inventories are carried at the lower of cost or market value. Costs of crude oil and refined products are aggregated on a consolidated basis for purposes of assessing whether the LIFO cost basis of these inventories may have to be written down to market values.
Derivative instruments	Derivatives that are not designated as accounting hedges may include commodity derivatives used to hedge price risk on (1) inventories, (2) fixed price sales of refined products, (3) the acquisition of foreign-sourced crude oil, (4) the acquisition of ethanol for blending with refined products, (5) the sale of NGLs, (6) the purchase of natural gas and (7) the purchase of soybean oil.

Short-term Investments (Tables)

Short-term Investments (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities Reconciliation	The components of investments were as follows: March 31, 2024 (Millions of dollars) Fair Value Level Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Short-term Investments Available-for-sale debt securities Commercial paper Level 2 $ 2,774 $ — $ (1) $ 2,773 $ 210 $ 2,563 Certificates of deposit and time deposits Level 2 1,256 — (1) 1,255 224 1,031 U.S. government securities Level 1 637 — (1) 636 — 636 Corporate notes and bonds Level 2 169 — — 169 — 169 Total available-for-sale debt securities $ 4,836 $ — $ (3) $ 4,833 $ 434 $ 4,399 Cash 2,741 2,741 — Total $ 7,574 $ 3,175 $ 4,399 December 31, 2023 (Millions of dollars) Fair Value Level Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash and Cash Equivalents Short-term Investments Available-for-sale debt securities Commercial paper Level 2 $ 3,154 $ 2 $ — $ 3,156 $ 281 $ 2,875 Certificates of deposit and time deposits Level 2 1,836 1 — 1,837 800 1,037 U.S. government securities Level 1 785 — (1) 784 — 784 Corporate notes and bonds Level 2 85 — — 85 — 85 Total available-for-sale debt securities $ 5,860 $ 3 $ (1) $ 5,862 $ 1,081 $ 4,781 Cash 4,362 4,362 — Total $ 10,224 $ 5,443 $ 4,781

Master Limited Partnership (Tab

Master Limited Partnership (Tables)	3 Months Ended
	Mar. 31, 2024
Noncontrolling Interest [Line Items]
Unit Repurchases	Total share repurchases were as follows for the respective periods: Three Months Ended (In millions, except per share data) 2024 2023 Number of shares repurchased 13 25 Cash paid for shares repurchased $ 2,218 $ 3,180 Average cost per share (a) $ 168.05 $ 126.56 (a) The average cost per share includes excise tax on share repurchases resulting from the Inflation Reduction Act of 2022, but does not reduce the share repurchase authorization .
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net	As a result of equity transactions of MPLX, we are required to adjust non-controlling interest and additional paid-in capital. Changes in MPC’s additional paid-in capital resulting from changes in its ownership interests in MPLX were as follows: Three Months Ended (Millions of dollars) 2024 2023 Increase due to change in ownership $ 108 $ 1 Tax impact (36) 2 Increase in MPC's additional paid-in capital, net of tax $ 72 $ 3
MPLX LP
Noncontrolling Interest [Line Items]
Unit Repurchases	Total unit repurchases were as follows for the respective periods: Three Months Ended (In millions, except per unit data) 2024 2023 Number of common units repurchased 2 — Cash paid for common units repurchased $ 75 $ — Average cost per unit $ 40.04 $ —

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following table presents balance sheet information for the assets and liabilities of MPLX, which are included in our consolidated balance sheets. (Millions of dollars) March 31, December 31, Assets Cash and cash equivalents $ 385 $ 1,048 Receivables, less allowance for doubtful accounts 766 836 Inventories 163 159 Other current assets 36 33 Equity method investments 4,343 3,743 Property, plant and equipment, net 19,299 19,264 Goodwill 7,645 7,645 Right of use assets 290 264 Other noncurrent assets 1,594 1,644 Liabilities Accounts payable $ 601 $ 723 Accrued taxes 71 79 Debt due within one year 1,639 1,135 Operating lease liabilities 50 45 Other current liabilities 304 336 Long-term debt 18,805 19,296 Deferred income taxes 16 16 Long-term operating lease liabilities 231 211 Deferred credits and other liabilities 485 476

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Transactions with related parties were as follows: Three Months Ended (Millions of dollars) 2024 2023 Sales to related parties $ 271 $ 189 Purchases from related parties 580 311 Sales to related parties, which are included in sales and other operating revenues, consist primarily of refined product sales and renewable feedstock sales to certain of our equity affiliates.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
Summary of Earnings Per Common Share	We compute basic earnings per share by dividing net income attributable to MPC less income allocated to participating securities by the weighted average number of shares of common stock outstanding. Since MPC grants certain incentive compensation awards to employees and non-employee directors that are considered to be participating securities, we have calculated our earnings per share using the two-class method. Diluted income per share assumes exercise of certain share-based compensation awards, provided the effect is not anti-dilutive. Three Months Ended (In millions, except per share data) 2024 2023 Net income $ 1,312 $ 3,084 Net income attributable to noncontrolling interest (375) (360) Net income allocated to participating securities (1) (2) Redemption of preferred units — (2) Income available to common stockholders $ 936 $ 2,720 Weighted average common shares outstanding: Basic 361 444 Effect of dilutive securities 1 3 Diluted 362 447 Income available to common stockholders per share: Basic: Net income attributable to MPC per share $ 2.59 $ 6.13 Diluted: Net income attributable to MPC per share $ 2.58 $ 6.09
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes the shares that were anti-dilutive and, therefore, were excluded from the diluted share calculation. Three Months Ended (In millions) 2024 2023 Shares issuable under share-based compensation plans — —

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Share Repurchases	Total share repurchases were as follows for the respective periods: Three Months Ended (In millions, except per share data) 2024 2023 Number of shares repurchased 13 25 Cash paid for shares repurchased $ 2,218 $ 3,180 Average cost per share (a) $ 168.05 $ 126.56 (a) The average cost per share includes excise tax on share repurchases resulting from the Inflation Reduction Act of 2022, but does not reduce the share repurchase authorization .

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Adjusted EBITDA	Three Months Ended (Millions of dollars) 2024 2023 Segment adjusted EBITDA for reportable segments Refining & Marketing $ 1,874 $ 3,853 Midstream 1,589 1,530 Total reportable segments $ 3,463 $ 5,383 Reconciliation of segment adjusted EBITDA for reportable segments to income before income taxes Total reportable segments $ 3,463 $ 5,383 Corporate (204) (165) Refining planned turnaround costs (648) (357) Depreciation and amortization (827) (800) Net interest and other financial costs (179) (154) Income before income taxes $ 1,605 $ 3,907
Reconciliation of Revenue from Segments to Consolidated	Three Months Ended (Millions of dollars) 2024 2023 Sales and other operating revenues Refining & Marketing Revenues from external customers (a) $ 31,485 $ 33,663 Intersegment revenues 37 27 Refining & Marketing segment revenues 31,522 33,690 Midstream Revenues from external customers (a) 1,221 1,201 Intersegment revenues 1,403 1,362 Midstream segment revenues 2,624 2,563 Total segment revenues 34,146 36,253 Less: intersegment revenues 1,440 1,389 Consolidated sales and other operating revenues (a) $ 32,706 $ 34,864 (a) Includes related party sales. See Note 6 for additional information.
Other Significant Reconciling Items from Segments to Consolidated	Three Months Ended (Millions of dollars) 2024 2023 Income (loss) from equity method investments Refining & Marketing $ 23 $ (36) Midstream 181 169 Consolidated income from equity method investments $ 204 $ 133 Depreciation and amortization Refining & Marketing $ 460 $ 464 Midstream 343 317 Corporate 24 19 Consolidated depreciation and amortization $ 827 $ 800 Capital expenditures Refining & Marketing $ 291 $ 421 Midstream 327 241 Segment capital expenditures and investments 618 662 Less investments in equity method investees 125 207 Plus: Corporate 6 7 Capitalized interest 12 21 Consolidated capital expenditures (a) $ 511 $ 483 (a) Includes changes in capital expenditure accruals. See Note 19 for a reconciliation of total capital expenditures to additions to property, plant and equipment for the three months ended March 31, 2024 and 2023 as reported in the consolidated statements of cash flows.

Net Interest and Other Financ_2

Net Interest and Other Financial Costs (Tables)	3 Months Ended
	Mar. 31, 2024
Other Income and Expenses [Abstract]
Net Interest And Other Financial Income (Costs)	Net interest and other financial costs were as follows: Three Months Ended (Millions of dollars) 2024 2023 Interest income $ (101) $ (121) Interest expense 341 334 Interest capitalized (12) (23) Pension and other postretirement non-service costs (a) (11) (23) Loss on extinguishment of debt — 9 Investments - net premium (discount) amortization (39) (28) Other financial costs 1 6 Net interest and other financial costs $ 179 $ 154 (a) See Note 22.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Summary Of Inventories	(Millions of dollars) March 31, December 31, Crude oil $ 3,434 $ 3,211 Refined products 5,273 4,940 Materials and supplies 1,074 1,166 Total $ 9,781 $ 9,317

Property, Plant and Equipment_2

Property, Plant and Equipment (PP&E) (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
Summary Of Property, Plant And Equipment	March 31, 2024 December 31, 2023 (Millions of dollars) Gross Accumulated Depreciation Net Gross Accumulated Depreciation Net Refining & Marketing $ 32,441 $ 18,099 $ 14,342 $ 32,496 $ 17,992 $ 14,504 Midstream 29,950 9,889 20,061 29,620 9,589 20,031 Corporate 1,638 1,078 560 1,632 1,055 577 Total $ 64,029 $ 29,066 $ 34,963 $ 63,748 $ 28,636 $ 35,112

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Assets and Liabilities Accounted for at Fair Value on Recurring Basis	The following tables present assets and liabilities accounted for at fair value on a recurring basis as of March 31, 2024 and December 31, 2023 by fair value hierarchy level. We have elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty, including any related cash collateral as shown below; however, fair value amounts by hierarchy level are presented on a gross basis in the following tables. March 31, 2024 Fair Value Hierarchy (Millions of dollars) Level 1 Level 2 Level 3 Netting and Collateral (a) Net Carrying Value on Balance Sheet (b) Collateral Pledged Not Offset Assets: Commodity contracts $ 197 $ — $ — $ (197) $ — $ 67 Liabilities: Commodity contracts $ 231 $ — $ — $ (231) $ — $ — Embedded derivatives in commodity contracts — — 69 — 69 — December 31, 2023 Fair Value Hierarchy (Millions of dollars) Level 1 Level 2 Level 3 Netting and Collateral (a) Net Carrying Value on Balance Sheet (b) Collateral Pledged Not Offset Assets: Commodity contracts $ 244 $ — $ — $ (220) $ 24 $ 73 Liabilities: Commodity contracts $ 249 $ — $ — $ (249) $ — $ — Embedded derivatives in commodity contracts — — 61 — 61 — (a) Represents the impact of netting assets, liabilities and cash collateral when a legal right of offset exists. As of March 31, 2024, cash collateral of $34 million was netted with mark-to-market derivative liabilities. As of December 31, 2023, cash collateral of $29 million was netted with mark-to-market derivative liabilities. (b) We have no derivative contracts which are subject to master netting arrangements reflected gross on the balance sheet.
Reconciliation of Net Beginning and Ending Balances Recorded for Net Assets and Liabilities Classified as Level 3	The following is a reconciliation of the beginning and ending balances recorded for net liabilities classified as Level 3 in the fair value hierarchy. Three Months Ended (Millions of dollars) 2024 2023 Beginning balance $ 61 $ 61 Unrealized and realized loss included in net income (a) 12 — Settlements of derivative instruments (4) (3) Ending balance $ 69 $ 58 The amount of total loss for the period included in earnings attributable to the change in unrealized loss relating to liabilities still held at the end of period (a) : $ 11 $ — (a) The loss is included in cost of revenues

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Classification of Fair Values of Derivative Instruments, Excluding Cash Collateral	The following table presents the fair value of derivative instruments as of March 31, 2024 and December 31, 2023 and the line items in the consolidated balance sheets in which the fair values are reflected. The fair value amounts below are presented on a gross basis and do not reflect the netting of asset and liability positions permitted under the terms of our master netting arrangements including cash collateral on deposit with, or received from, brokers. We offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of offset exists. As a result, the asset and liability amounts below will not agree with the amounts presented in our consolidated balance sheets. (Millions of dollars) March 31, 2024 December 31, 2023 Balance Sheet Location Asset Liability Asset Liability Commodity derivatives Other current assets $ 197 $ 231 $ 244 $ 249 Other current liabilities (a) — 13 — 11 Deferred credits and other liabilities (a) — 56 — 50 (a) Includes embedded derivatives.
Open Commodity Derivative Contracts	The table below summarizes open commodity derivative contracts for crude oil, refined products, blending products and soybean oil as of March 31, 2024. Percentage of contracts Position (Units in thousands of barrels) Long Short Exchange-traded (a) Crude oil 68.1% 44,665 52,077 Refined products 94.8% 19,575 20,404 Blending products 80.1% 7,186 3,983 Soybean oil 67.3% 4,282 4,806 (a) Included in exchange-traded are spread contracts in thousands of barrels: Crude oil - 12,308 long and 12,188 short; Refined products - 445 long and 614 short. There are no spread contracts for blending products or soybean oil.
Effect of Commodity Derivative Instruments in Statements of Income	The following table summarizes the effect of all commodity derivative instruments in our consolidated statements of income: Gain (Loss) (Millions of dollars) Three Months Ended Income Statement Location 2024 2023 Sales and other operating revenues $ — $ 2 Cost of revenues (74) 61 Other income — 1 Total $ (74) $ 64

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Outstanding Borrowings	Our outstanding borrowings at March 31, 2024 and December 31, 2023 consisted of the following: (Millions of dollars) March 31, December 31, Marathon Petroleum Corporation: Senior notes $ 6,449 $ 6,449 Notes payable 1 1 Finance lease obligations 457 464 Total 6,907 6,914 MPLX LP: Senior notes 20,700 20,700 Finance lease obligations 6 6 Total 20,706 20,706 Total debt 27,613 27,620 Unamortized debt issuance costs (138) (141) Unamortized discount, net of unamortized premium (186) (196) Amounts due within one year (2,457) (1,954) Total long-term debt due after one year $ 24,832 $ 25,329
Schedule of Line of Credit Facilities	Available Capacity under our Credit Facilities as of March 31, 2024 (Millions of dollars) Total Outstanding Outstanding Available Weighted Expiration MPC, excluding MPLX MPC bank revolving credit facility $ 5,000 $ — $ 1 $ 4,999 — % July 2027 MPC trade receivables securitization facility (a) 100 — — 100 — September 2024 MPLX MPLX bank revolving credit facility 2,000 — — 2,000 — % July 2027 (a) The committed borrowing and letter of credit issuance capacity under the trade receivables securitization facility is $100 million. In addition, the facility allows for the issuance of letters of credit in excess of the committed capacity at the discretion of the issuing banks.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue from External Customers by Products and Services	The following table presents our revenues from external customers disaggregated by segment and product line. Three Months Ended (Millions of dollars) 2024 2023 Refining & Marketing Refined products $ 29,247 $ 31,923 Crude oil 1,788 1,330 Services and other 450 410 Total revenues from external customers 31,485 33,663 Midstream Refined products 373 420 Services and other 848 781 Total revenues from external customers 1,221 1,201 Sales and other operating revenues $ 32,706 $ 34,864

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Summary of Supplemental Cash Flow Information	Three Months Ended (Millions of dollars) 2024 2023 Net cash provided by operating activities included: Interest paid (net of amounts capitalized) $ 359 $ 342 Net income taxes paid to (received from) taxing authorities (22) (18)
Reconciliation of Additions to Property, Plant and Equipment to Total Capital Expenditures	The consolidated statements of cash flows exclude changes to the consolidated balance sheets that did not affect cash. The following is a reconciliation of additions to property, plant and equipment to total capital expenditures: Three Months Ended (Millions of dollars) 2024 2023 Additions to property, plant and equipment per the consolidated statements of cash flows $ 585 $ 457 Increase (decrease) in capital accruals (74) 26 Total capital expenditures $ 511 $ 483

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	The following summarizes the components of other current liabilities: (Millions of dollars) March 31, December 31, Environmental credits liability $ 331 $ 778 Accrued interest payable 258 316 Other current liabilities 375 551 Total other current liabilities $ 964 $ 1,645

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss by Component	The following table shows the changes in accumulated other comprehensive income (loss) by component. Amounts in parentheses indicate debits. (Millions of dollars) Pension Benefits Other Benefits Other Total Balance as of December 31, 2022 $ (163) $ 165 $ — $ 2 Other comprehensive gain before reclassifications, net of tax of $1 — 3 — 3 Amounts reclassified from accumulated other comprehensive loss: Amortization of prior service credit (a) (11) (5) — (16) Amortization of actuarial gain (a) (2) — — (2) Tax effect 3 1 — 4 Other comprehensive loss (10) (1) — (11) Balance as of March 31, 2023 $ (173) $ 164 $ — $ (9) (Millions of dollars) Pension Benefits Other Benefits Other Total Balance as of December 31, 2023 $ (261) $ 129 $ 1 $ (131) Other comprehensive gain (loss) before reclassifications, net of tax of $(1) 2 (1) (3) (2) Amounts reclassified from accumulated other comprehensive loss: Amortization of prior service credit (a) (8) (5) — (13) Amortization of actuarial loss (a) 1 — — 1 Tax effect 1 1 — 2 Other comprehensive loss (4) (5) (3) (12) Balance as of March 31, 2024 $ (265) $ 124 $ (2) $ (143) (a) These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost. See Note 22.

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2024
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Costs	The following summarizes the components of net periodic benefit costs: Three Months Ended (Millions of dollars) 2024 2023 Pension Benefits Service cost $ 54 $ 49 Interest cost 30 29 Expected return on plan assets (37) (42) Amortization of prior service credit (8) (11) Amortization of actuarial (gain) loss 1 (2) Net periodic pension benefit cost $ 40 $ 23 Other Benefits Service cost $ 5 $ 5 Interest cost 8 8 Amortization of prior service credit (5) (5) Net periodic other benefit cost $ 8 $ 8

Short-term Investments (Compone

Short-term Investments (Components of Investments) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized cost of available-for-sale debt securities	$ 4,836	$ 5,860
Unrealized gains, available-for-sale debt securities	0	3
Unrealized losses, available-for-sale debt securities	(3)	(1)
Fair value of available-for-sale debt securities	4,833	5,862
Cash	2,741	4,362
Short-term investments and cash	7,574	10,224
Commercial paper | Level 2
Debt Securities, Available-for-sale [Line Items]
Amortized cost of available-for-sale debt securities	2,774	3,154
Unrealized gains, available-for-sale debt securities	0	2
Unrealized losses, available-for-sale debt securities	(1)	0
Fair value of available-for-sale debt securities	2,773	3,156
Certificates of deposit and time deposits | Level 2
Debt Securities, Available-for-sale [Line Items]
Amortized cost of available-for-sale debt securities	1,256	1,836
Unrealized gains, available-for-sale debt securities	0	1
Unrealized losses, available-for-sale debt securities	(1)	0
Fair value of available-for-sale debt securities	1,255	1,837
U.S. government securities | Level 1
Debt Securities, Available-for-sale [Line Items]
Amortized cost of available-for-sale debt securities	637	785
Unrealized gains, available-for-sale debt securities	0	0
Unrealized losses, available-for-sale debt securities	(1)	(1)
Fair value of available-for-sale debt securities	636	784
Corporate notes and bonds | Level 2
Debt Securities, Available-for-sale [Line Items]
Amortized cost of available-for-sale debt securities	169	85
Unrealized gains, available-for-sale debt securities	0	0
Unrealized losses, available-for-sale debt securities	0	0
Fair value of available-for-sale debt securities	169	85
Cash and Cash Equivalents
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities	434	1,081
Cash	2,741	4,362
Short-term investments and cash	3,175	5,443
Cash and Cash Equivalents | Commercial paper | Level 2
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities	210	281
Cash and Cash Equivalents | Certificates of deposit and time deposits | Level 2
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities	224	800
Cash and Cash Equivalents | U.S. government securities | Level 1
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities	0	0
Cash and Cash Equivalents | Corporate notes and bonds | Level 2
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities	0	0
Short-term Investments
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities	4,399	4,781
Cash	0	0
Short-term investments and cash	4,399	4,781
Short-term Investments | Commercial paper | Level 2
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities	2,563	2,875
Short-term Investments | Certificates of deposit and time deposits | Level 2
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities	1,031	1,037
Short-term Investments | U.S. government securities | Level 1
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities	636	784
Short-term Investments | Corporate notes and bonds | Level 2
Debt Securities, Available-for-sale [Line Items]
Fair value of available-for-sale debt securities	$ 169	$ 85

Master Limited Partnership (Det

Master Limited Partnership (Details)	Mar. 31, 2024	Dec. 31, 2023
MPLX | Marathon Petroleum Corporation
MPC's partnership interest in MLP (in percentage)	64%	65%

Master Limited Partnership (Uni

Master Limited Partnership (Unit Repurchase Program) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023	Aug. 02, 2022
Units acquired, average cost per unit	[1]	$ 168.05	$ 126.56
Stock repurchase program, remaining authorized repurchase amount		$ 4,630
MPLX LP
Units repurchased, units		2	0
Units repurchased, value		$ 75	$ 0
Units acquired, average cost per unit		$ 40.04	$ 0
Stock repurchase program, remaining authorized repurchase amount		$ 771
MPLX LP | Share Repurchase Authorization August 2022
Stock repurchase program, authorized amount				$ 1,000
[1] The average cost per share includes excise tax on share repurchases resulting from the Inflation Reduction Act of 2022, but does not reduce the share repurchase authorization .

Master Limited Partnership (Red

Master Limited Partnership (Redemption of the Series B Preferred Units) (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Feb. 15, 2023	Mar. 31, 2024	Mar. 31, 2023
Noncontrolling Interest [Line Items]
Redemption of noncontrolling interests - preferred units		$ 0	$ 600
Redemption of preferred units		$ 0	$ 2
MPLX | Series B Preferred Stock
Noncontrolling Interest [Line Items]
Preferred units, outstanding	600,000
Preferred units, redemption price per unit	$ 1,000
Redemption of noncontrolling interests - preferred units	$ 600
Redemption of preferred units	$ 2

Master Limited Partnership (Non

Master Limited Partnership (Noncontrolling Interest) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Equity transactions of MPLX	$ 210	$ (597)
Additional Paid-in Capital
Increase due to change in ownership	108	1
Tax impact	(36)	2
Equity transactions of MPLX	$ 72	$ 3

Variable Interest Entities (Con

Variable Interest Entities (Consolidated VIE) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 3,175	$ 5,443
Receivables, less allowance for doubtful accounts	13,171	12,187
Inventories	9,781	9,317
Other current assets	734	403
Equity method investments	6,831	6,260
Property, plant and equipment, net	34,963	35,112
Goodwill	8,244	8,244
Right of use assets	1,255	1,233
Other noncurrent assets	2,975	3,007
Liabilities
Accounts payable	15,471	13,761
Accrued taxes	1,243	1,221
Debt due within one year	2,457	1,954
Operating lease liabilities	472	454
Other current liabilities	964	1,645
Long-term debt	24,832	25,329
Deferred income taxes	5,831	5,834
Long-term operating lease liabilities	770	764
Deferred credits and other liabilities	1,355	1,409
Variable Interest Entity, Primary Beneficiary | MPLX
Assets
Cash and cash equivalents	385	1,048
Receivables, less allowance for doubtful accounts	766	836
Inventories	163	159
Other current assets	36	33
Equity method investments	4,343	3,743
Property, plant and equipment, net	19,299	19,264
Goodwill	7,645	7,645
Right of use assets	290	264
Other noncurrent assets	1,594	1,644
Liabilities
Accounts payable	601	723
Accrued taxes	71	79
Debt due within one year	1,639	1,135
Operating lease liabilities	50	45
Other current liabilities	304	336
Long-term debt	18,805	19,296
Deferred income taxes	16	16
Long-term operating lease liabilities	231	211
Deferred credits and other liabilities	$ 485	$ 476

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Related Party Transaction [Line Items]
Sales and other operating revenues	[1]	$ 32,706	$ 34,864
Purchases from related parties		580	311
Related Party
Related Party Transaction [Line Items]
Sales and other operating revenues		$ 271	$ 189
[1] Includes related party sales. See Note 6 for additional information.

Earnings Per Share (Summary of

Earnings Per Share (Summary of Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Net income	$ 1,312	$ 3,084
Net income attributable to noncontrolling interest	(375)	(360)
Net income allocated to participating securities	(1)	(2)
Redemption of preferred units	0	(2)
Income available to common stockholders	$ 936	$ 2,720
Weighted average common shares outstanding:
Basic (in shares)	361	444
Effect of dilutive securities (in shares)	1	3
Diluted (in shares)	362	447
Basic:
Net income attributable to MPC per share	$ 2.59	$ 6.13
Diluted:
Net income attributable to MPC per share	$ 2.58	$ 6.09

Earnings Per Share (Anti-diluti

Earnings Per Share (Anti-dilutive Shares) (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock Based Compensation Expense
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issuable under share-based compensation plans	0	0

Equity (Share Repurchase Author

Equity (Share Repurchase Authorizations) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Oct. 25, 2023	May 02, 2023	Jan. 31, 2023
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, remaining authorized repurchase amount	$ 4,630
Share Repurchase Authorization October 2023
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount		$ 5,000
Share Repurchase Authorization January 2023
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount				$ 5,000
Share Repurchase Authorization May 2023
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount			$ 5,000

Equity (Share Repurchases) (Det

Equity (Share Repurchases) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Equity [Abstract]
Number of shares repurchased		13	25
Cash paid for shares repurchased		$ 2,218	$ 3,180
Average cost per share	[1]	$ 168.05	$ 126.56
[1] The average cost per share includes excise tax on share repurchases resulting from the Inflation Reduction Act of 2022, but does not reduce the share repurchase authorization .

Segment Information (Additional

Segment Information (Additional Information) (Details)	3 Months Ended
	Mar. 31, 2024 Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information (Segment Ad

Segment Information (Segment Adjusted EBITDA to Income (Loss) from Operations before Income Taxes) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Refining planned turnaround costs	$ (648)	$ (357)
Depreciation and amortization	(827)	(800)
Net interest and other financial costs	(179)	(154)
Income before income taxes	1,605	3,907
Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	3,463	5,383
Operating Segments | Refining & Marketing
Segment Reporting Information [Line Items]
Adjusted EBITDA	1,874	3,853
Depreciation and amortization	(460)	(464)
Operating Segments | Midstream
Segment Reporting Information [Line Items]
Adjusted EBITDA	1,589	1,530
Depreciation and amortization	(343)	(317)
Corporate
Segment Reporting Information [Line Items]
Costs and expenses, excluding depreciation	(204)	(165)
Depreciation and amortization	$ (24)	$ (19)

Segment Information (Reconcilia

Segment Information (Reconciliation of Segment Revenues To Sales and Other Operating Revenues) (Detail) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Sales and other operating revenues	[1]	$ 32,706	$ 34,864
Refining & Marketing
Segment Reporting Information [Line Items]
Sales and other operating revenues	[1]	31,485	33,663
Midstream
Segment Reporting Information [Line Items]
Sales and other operating revenues	[1]	1,221	1,201
Operating Segments
Segment Reporting Information [Line Items]
Sales and other operating revenues		34,146	36,253
Operating Segments | Refining & Marketing
Segment Reporting Information [Line Items]
Sales and other operating revenues		31,522	33,690
Operating Segments | Midstream
Segment Reporting Information [Line Items]
Sales and other operating revenues		2,624	2,563
Intersegment Eliminations
Segment Reporting Information [Line Items]
Sales and other operating revenues		1,440	1,389
Intersegment Eliminations | Refining & Marketing
Segment Reporting Information [Line Items]
Sales and other operating revenues		37	27
Intersegment Eliminations | Midstream
Segment Reporting Information [Line Items]
Sales and other operating revenues		$ 1,403	$ 1,362
[1] Includes related party sales. See Note 6 for additional information.

Segment Information (Income fro

Segment Information (Income from Equity Method Investments) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reconciliation Of Segment Capital Expenditures And Investments To Total Capital Expenditures [Line Items]
Income from equity method investments	$ 204	$ 133
Operating Segments | Refining & Marketing
Reconciliation Of Segment Capital Expenditures And Investments To Total Capital Expenditures [Line Items]
Income from equity method investments	23	(36)
Operating Segments | Midstream
Reconciliation Of Segment Capital Expenditures And Investments To Total Capital Expenditures [Line Items]
Income from equity method investments	$ 181	$ 169

Segment Information (Depreciati

Segment Information (Depreciation and Amortization) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Reconciliation Of Segment Capital Expenditures And Investments To Total Capital Expenditures [Line Items]
Depreciation and amortization	$ 827	$ 800
Operating Segments | Refining & Marketing
Reconciliation Of Segment Capital Expenditures And Investments To Total Capital Expenditures [Line Items]
Depreciation and amortization	460	464
Operating Segments | Midstream
Reconciliation Of Segment Capital Expenditures And Investments To Total Capital Expenditures [Line Items]
Depreciation and amortization	343	317
Corporate
Reconciliation Of Segment Capital Expenditures And Investments To Total Capital Expenditures [Line Items]
Depreciation and amortization	$ 24	$ 19

Segment Information (Capital Ex

Segment Information (Capital Expenditures) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Plus:
Capital expenditures	[1]	$ 511	$ 483
Operating Segments
Reconciliation Of Segment Capital Expenditures And Investments To Total Capital Expenditures [Line Items]
Capital expenditures and investments		618	662
Less investments in equity method investees		125	207
Operating Segments | Refining & Marketing
Reconciliation Of Segment Capital Expenditures And Investments To Total Capital Expenditures [Line Items]
Capital expenditures and investments		291	421
Operating Segments | Midstream
Reconciliation Of Segment Capital Expenditures And Investments To Total Capital Expenditures [Line Items]
Capital expenditures and investments		327	241
Corporate
Plus:
Corporate		6	7
Capitalized interest		$ 12	$ 21
[1] Includes changes in capital expenditure accruals. See Note 19 for a reconciliation of total capital expenditures to additions to property, plant and equipment for the three months ended March 31, 2024 and 2023 as reported in the consolidated statements of cash flows.

Net Interest and Other Financ_3

Net Interest and Other Financial Costs (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Other Income and Expenses [Abstract]
Interest income		$ (101)	$ (121)
Interest expense		341	334
Interest capitalized		(12)	(23)
Pension and other postretirement non-service costs	[1]	(11)	(23)
Loss on extinguishment of debt		0	9
Investments - net premium (discount) amortization		(39)	(28)
Other financial costs		1	6
Net interest and other financial costs		$ 179	$ 154
[1] See Note 22.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 293	$ 823

Inventories (Summary of Invento

Inventories (Summary of Inventories) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Crude oil	$ 3,434	$ 3,211
Refined products	5,273	4,940
Materials and supplies	1,074	1,166
Total	$ 9,781	$ 9,317

Midstream Acquisition (Details)

Midstream Acquisition (Details) - USD ($) $ in Millions		3 Months Ended
	Mar. 22, 2024	Mar. 31, 2024	Mar. 31, 2023	Mar. 21, 2024
Schedule of Equity Method Investments [Line Items]
Net gain on disposal of assets		$ 20	$ 3
Midstream Acquisition
Schedule of Equity Method Investments [Line Items]
Payments to acquire businesses and interest in affiliates	$ 625
Recognized identifiable assets acquired and liabilities assumed, net	625
Recognized identifiable assets acquired and liabilities assumed, equity method investments	$ 518
Ohio Gathering Company | Midstream Acquisition
Schedule of Equity Method Investments [Line Items]
Ownership percentage	73%
Basis difference	$ 86
Ohio Condensate Company
Schedule of Equity Method Investments [Line Items]
Ownership percentage				62%
Ohio Condensate Company | Midstream Acquisition
Schedule of Equity Method Investments [Line Items]
Ownership percentage	100%
Net gain on disposal of assets	$ 20

LF Bioenergy Acquisition (Detai

LF Bioenergy Acquisition (Details) - USD ($) $ in Millions		3 Months Ended
	Mar. 08, 2023	Mar. 31, 2024	Mar. 31, 2023
Schedule of Equity Method Investments [Line Items]
Payments to acquire interest in joint venture		$ 125	$ 207
LF Bioenergy
Schedule of Equity Method Investments [Line Items]
Ownership percentage	49.90%
Payments to acquire interest in joint venture	$ 56

Property, Plant and Equipment_3

Property, Plant and Equipment (PP&E) (Summary of Property, Plant And Equipment) (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Gross PP&E	$ 64,029	$ 63,748
Accumulated Depreciation	29,066	28,636
Net PP&E	34,963	35,112
Operating Segments | Refining & Marketing
Property, Plant and Equipment [Line Items]
Gross PP&E	32,441	32,496
Accumulated Depreciation	18,099	17,992
Net PP&E	14,342	14,504
Operating Segments | Midstream
Property, Plant and Equipment [Line Items]
Gross PP&E	29,950	29,620
Accumulated Depreciation	9,889	9,589
Net PP&E	20,061	20,031
Corporate
Property, Plant and Equipment [Line Items]
Gross PP&E	1,638	1,632
Accumulated Depreciation	1,078	1,055
Net PP&E	$ 560	$ 577

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities Accounted for at Fair Value on Recurring Basis) (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash collateral netted with derivative liabilities	$ 34	$ 29
Fair Value, Recurring | Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivative instruments, assets - netting and collateral	(197)	(220)
Derivative asset, net carrying value on balance sheet	0	24
Commodity derivative instruments, assets - collateral pledged not offset	67	73
Commodity derivative instruments, liabilities - netting and collateral	(231)	(249)
Derivative liability, net carrying value on balance sheet	0	0
Commodity derivative instruments, liabilities - collateral pledged not offset	0	0
Fair Value, Recurring | Embedded derivatives in commodity contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivative instruments, liabilities - netting and collateral	0	0
Derivative liability, net carrying value on balance sheet	69	61
Commodity derivative instruments, liabilities - collateral pledged not offset	0	0
Fair Value, Recurring | Level 1 | Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivative instruments, assets - gross	197	244
Commodity derivative instruments, liabilities - gross	231	249
Fair Value, Recurring | Level 1 | Embedded derivatives in commodity contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivative instruments, liabilities - gross	0	0
Fair Value, Recurring | Level 2 | Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivative instruments, assets - gross	0	0
Commodity derivative instruments, liabilities - gross	0	0
Fair Value, Recurring | Level 2 | Embedded derivatives in commodity contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivative instruments, liabilities - gross	0	0
Fair Value, Recurring | Level 3 | Commodity derivatives
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivative instruments, assets - gross	0	0
Commodity derivative instruments, liabilities - gross	0	0
Fair Value, Recurring | Level 3 | Embedded derivatives in commodity contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commodity derivative instruments, liabilities - gross	$ 69	$ 61

Fair Value Measurements (Level

Fair Value Measurements (Level 3) (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) $ / gal
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Term of contract	5 years
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Average forward price | $ / gal	0.83
Probability of renewal second term	100%
Level 3 | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Forward commodity price	0.66
Level 3 | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Forward commodity price	1.61

Fair Value Measurements (Reconc

Fair Value Measurements (Reconciliation of Net Beginning and Ending Balances Recorded for Net Assets and Liabilities Classified as Level 3) (Detail) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		$ 61	$ 61
Unrealized and realized loss included in net income	[1]	12	0
Settlements of derivative instruments		(4)	(3)
Ending balance		$ 69	$ 58
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Cost of revenues (excludes items below)	Cost of revenues (excludes items below)
[1] The loss is included in cost of revenues

Fair Value Measurements (Gain_L

Fair Value Measurements (Gain/Loss Included in Earnings Relating to Assets Still Held at End of Period) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Fair Value Disclosures [Abstract]
The amount of total loss for the period included in earnings attributable to the change in unrealized loss relating to liabilities still held at the end of period	[1]	$ 11	$ 0
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Cost of revenues (excludes items below)	Cost of revenues (excludes items below)
[1] The loss is included in cost of revenues

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Values - Reported) (Detail) - USD ($) $ in Billions	Mar. 31, 2024	Dec. 31, 2023
Reported Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 27	$ 27
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 25.3	$ 25.5

Derivatives (Classification of

Derivatives (Classification of Gross Fair Values of Derivative Instruments, Excluding Cash Collateral) (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Commodity derivatives | Other current assets
Derivative [Line Items]
Asset	$ 197	$ 244
Liability	231	249
Embedded derivatives in commodity contracts | Other current liabilities
Derivative [Line Items]
Asset	0	0
Liability	13	11
Embedded derivatives in commodity contracts | Deferred credits and other liabilities
Derivative [Line Items]
Asset	0	0
Liability	$ 56	$ 50

Derivatives (Open Commodity Der

Derivatives (Open Commodity Derivative Contracts) (Details) - Exchange Traded bbl in Thousands	3 Months Ended
	Mar. 31, 2024 bbl
Crude oil
Derivative [Line Items]
Percentage of derivative contracts expiring in the period	68.10%
Crude oil | Long
Derivative [Line Items]
Notional contracts (in thousands of total barrels)	44,665
Crude oil | Long | Spread Contracts
Derivative [Line Items]
Notional contracts (in thousands of total barrels)	12,308
Crude oil | Short
Derivative [Line Items]
Notional contracts (in thousands of total barrels)	52,077
Crude oil | Short | Spread Contracts
Derivative [Line Items]
Notional contracts (in thousands of total barrels)	12,188
Refined products
Derivative [Line Items]
Percentage of derivative contracts expiring in the period	94.80%
Refined products | Long
Derivative [Line Items]
Notional contracts (in thousands of total barrels)	19,575
Refined products | Long | Spread Contracts
Derivative [Line Items]
Notional contracts (in thousands of total barrels)	445
Refined products | Short
Derivative [Line Items]
Notional contracts (in thousands of total barrels)	20,404
Refined products | Short | Spread Contracts
Derivative [Line Items]
Notional contracts (in thousands of total barrels)	614
Blending products
Derivative [Line Items]
Percentage of derivative contracts expiring in the period	80.10%
Blending products | Long
Derivative [Line Items]
Notional contracts (in thousands of total barrels)	7,186
Blending products | Short
Derivative [Line Items]
Notional contracts (in thousands of total barrels)	3,983
Soybean oil
Derivative [Line Items]
Percentage of derivative contracts expiring in the period	67.30%
Soybean oil | Long
Derivative [Line Items]
Notional contracts (in thousands of total barrels)	4,282
Soybean oil | Short
Derivative [Line Items]
Notional contracts (in thousands of total barrels)	4,806

Derivatives (Effect of Commodit

Derivatives (Effect of Commodity Derivative Instruments in Statements of Income) (Detail) - Commodity derivatives - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss)	$ (74)	$ 64
Sales and other operating revenues
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss)	0	2
Cost of revenues
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss)	(74)	61
Other income
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss)	$ 0	$ 1

Debt (Outstanding Borrowings) (

Debt (Outstanding Borrowings) (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Total debt	$ 27,613	$ 27,620
Unamortized debt issuance costs	(138)	(141)
Unamortized discount, net of unamortized premium	(186)	(196)
Amounts due within one year	(2,457)	(1,954)
Long-term debt	24,832	25,329
Marathon Petroleum Corporation:
Finance lease obligations	457	464
Total debt	6,907	6,914
Marathon Petroleum Corporation: | Senior notes
Long-term debt, gross	6,449	6,449
Marathon Petroleum Corporation: | Notes payable
Long-term debt, gross	1	1
MPLX LP:
Finance lease obligations	6	6
Total debt	20,706	20,706
MPLX LP: | Senior notes
Long-term debt, gross	$ 20,700	$ 20,700

Debt (Available Capacity under

Debt (Available Capacity under our Facilities) (Details) $ in Millions	Mar. 31, 2024 USD ($)
MPC bank revolving credit facility due July 2027
Debt Instrument [Line Items]
Total Capacity	$ 5,000
Outstanding Borrowings	0
Outstanding Letters of Credit	1
Available Capacity	$ 4,999
Weighted Average Interest Rate	0%
MPC trade receivables securitization facility due September 2024
Debt Instrument [Line Items]
Total Capacity	$ 100	[1]
Outstanding Borrowings	0
Outstanding Letters of Credit	0
Available Capacity	$ 100
Weighted Average Interest Rate	0%
Maximum borrowing capacity	$ 100
MPLX LP | MPLX bank revolving credit facility due July 2027
Debt Instrument [Line Items]
Total Capacity	2,000
Outstanding Borrowings	0
Outstanding Letters of Credit	0
Available Capacity	$ 2,000
Weighted Average Interest Rate	0%
[1]The committed borrowing and letter of credit issuance capacity under the trade receivables securitization facility is $100 million. In addition, the facility allows for the issuance of letters of credit in excess of the committed capacity at the discretion of the issuing banks.

Revenue (Disaggregated by Produ

Revenue (Disaggregated by Product Line) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Sales and other operating revenues	[1]	$ 32,706	$ 34,864
Refining & Marketing
Sales and other operating revenues	[1]	31,485	33,663
Refining & Marketing | Refined products
Sales and other operating revenues		29,247	31,923
Refining & Marketing | Crude oil
Sales and other operating revenues		1,788	1,330
Refining & Marketing | Services and other
Sales and other operating revenues		450	410
Midstream
Sales and other operating revenues	[1]	1,221	1,201
Midstream | Refined products
Sales and other operating revenues		373	420
Midstream | Services and other
Sales and other operating revenues		$ 848	$ 781
[1] Includes related party sales. See Note 6 for additional information.

Revenue (Details)

Revenue (Details) $ in Millions	Mar. 31, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Matching buy/sell receivables	$ 5,430

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net cash provided by operating activities included:
Interest paid (net of amounts capitalized)	$ 359	$ 342
Net income taxes paid to (received from) taxing authorities	$ (22)	$ (18)

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information (Reconciliation of Additions to Property, Plant and Equipment to Total Capital Expenditures) (Detail) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Additions to property, plant and equipment per the consolidated statements of cash flows		$ 585	$ 457
Increase (decrease) in capital accruals		(74)	26
Capital expenditures	[1]	$ 511	$ 483
[1] Includes changes in capital expenditure accruals. See Note 19 for a reconciliation of total capital expenditures to additions to property, plant and equipment for the three months ended March 31, 2024 and 2023 as reported in the consolidated statements of cash flows.

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Environmental credits liability	$ 331	$ 778
Accrued interest payable	258	316
Other current liabilities	375	551
Total other current liabilities	$ 964	$ 1,645

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Changes in Accumulated Other Comprehensive Loss by Component) (Detail) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		$ (131)	$ 2
Other comprehensive income (loss), before reclassifications, net of tax		(2)	3
Amounts reclassified from accumulated other comprehensive loss:
Amortization of prior service credit		(13)	(16)
Amortization of actuarial (gain) loss		1	(2)
Tax effect		2	4
Other comprehensive loss		(12)	(11)
Ending balance		(143)	(9)
Other comprehensive income (loss) before reclassifications, tax		(1)	1
Accumulated Defined Benefit Plans Adjustment | Pension Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		(261)	(163)
Other comprehensive income (loss), before reclassifications, net of tax		2	0
Amounts reclassified from accumulated other comprehensive loss:
Amortization of prior service credit	[1]	(8)	(11)
Amortization of actuarial (gain) loss	[1]	1	(2)
Tax effect		1	3
Other comprehensive loss		(4)	(10)
Ending balance		(265)	(173)
Accumulated Defined Benefit Plans Adjustment | Other Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		129	165
Other comprehensive income (loss), before reclassifications, net of tax		(1)	3
Amounts reclassified from accumulated other comprehensive loss:
Amortization of prior service credit	[1]	(5)	(5)
Amortization of actuarial (gain) loss	[1]	0	0
Tax effect		1	1
Other comprehensive loss		(5)	(1)
Ending balance		124	164
Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		1	0
Other comprehensive income (loss), before reclassifications, net of tax		(3)	0
Amounts reclassified from accumulated other comprehensive loss:
Tax effect		0	0
Other comprehensive loss		(3)	0
Ending balance		$ (2)	$ 0
[1] These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost. See Note 22.

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits (Components of Net Periodic Benefit Costs) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pension Benefits
Components of net periodic benefit cost:
Service cost	$ 54	$ 49
Interest cost	30	29
Expected return on plan assets	(37)	(42)
Amortization of prior service credit	(8)	(11)
Amortization of actuarial (gain) loss	1	(2)
Net periodic benefit cost	40	23
Other Benefits
Components of net periodic benefit cost:
Service cost	5	5
Interest cost	8	8
Amortization of prior service credit	(5)	(5)
Net periodic benefit cost	$ 8	$ 8

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits (Additional Information) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 0
Other Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Benefits paid	3
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Benefits paid	$ 12

Commitments and Contingencies (

Commitments and Contingencies (Environmental Matters) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Accrued liabilities for remediation	$ 375	$ 387
Receivables for recoverable costs	$ 5	$ 5

Commitments and Contingencies_2

Commitments and Contingencies (Other Legal Proceedings) (Details) - USD ($) $ in Millions		1 Months Ended
	Dec. 15, 2020	Jul. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Loss contingency, damages sought, value		$ 187
Loss contingency, damages paid, value	$ 4

Commitments and Contingencies_3

Commitments and Contingencies (Guarantees) (Details) $ in Millions	Mar. 31, 2024 USD ($)
Other Guarantees
Loss Contingencies [Line Items]
Maximum potential undiscounted payments	$ 114
LOOP and LOCAP LLC | Guarantee of Indebtedness of Others | Financial Guarantee
Loss Contingencies [Line Items]
Maximum potential undiscounted payments	$ 222
Bakken Pipeline System | Indirect
Loss Contingencies [Line Items]
Ownership percentage	9.19%
Bakken Pipeline System | Guarantee of Indebtedness of Others | Financial Guarantee
Loss Contingencies [Line Items]
Maximum potential undiscounted payments	$ 170
Crowley Blue Water Partners
Loss Contingencies [Line Items]
Ownership percentage	50%
Crowley Blue Water Partners | Guarantee of Indebtedness of Others | Financial Guarantee
Loss Contingencies [Line Items]
Maximum potential undiscounted payments	$ 91

Subsequent Events (Details)

Subsequent Events (Details) $ in Billions	Apr. 30, 2024 USD ($)
Share Repurchase Authorization April 2024 | Subsequent Event
Subsequent Event [Line Items]
Stock repurchase program, authorized amount	$ 5