Marathon Petroleum Corp (MPC) Financial Statements (2026 and earlier)

Company Profile

Business Address 539 SOUTH MAIN STREET
FINDLAY, OH 45840-3229
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 2911 - Petroleum Refining (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)
Annual | Quarterly

12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,21010,22411,7705,2914151,527
Cash and cash equivalent3,2105,4438,6255,2914151,527
Short-term investments  4,7813,145   
Receivables11,14511,61913,47711,0345,7607,872
Inventory, net of allowances, customer advances and progress billings9,5689,3178,8278,0557,99910,243
Inventory9,5689,3178,8278,0557,99910,243
Disposal group, including discontinued operation     11,389 
Other current assets5249711,1685682,724528
Other undisclosed current assets    5,548  
Total current assets:24,44732,13135,24230,49628,28720,170
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization608352406479  
Operating lease, right-of-use asset1,3001,2331,2141,3721,5212,459
Property, plant, and equipment, after accumulated depreciation, depletion, and amortization     39,03545,615
Long-term investments and receivables6,8576,2606,4665,4095,4226,898
Long-term investments6,8576,2606,4665,4095,4226,898
Intangible asset, including goodwill, after accumulated amortization9,94710,00910,12010,3918,25620,040
Goodwill8,2448,2448,2448,2568,25620,040
Intangible asset, excluding goodwill, after accumulated amortization1,7031,7651,8762,135  
Other noncurrent assets2,9823,0073,0812,4002,6373,374
Other undisclosed noncurrent assets32,71732,99533,37534,826  
Total noncurrent assets:54,41153,85654,66254,87756,87178,386
TOTAL ASSETS:78,85885,98789,90485,37385,15898,556
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities16,20616,09717,41915,8429,64013,935
Taxes payable✕✕✕✕1,2311,1051,186
Employee-related liabilities✕✕✕✕9117321,126
Accounts payable13,90613,76115,31213,7007,80311,623
Accrued liabilities2,3002,3362,107   
Debt3,0491,9541,0665712,854711
Asset retirement obligation362427141424
Disposal group, including discontinued operation     1,850 
Other liabilities1,1551,6451,1671,047822897
Other undisclosed current liabilities381430341424483580
Total current liabilities:20,82720,15020,02017,89815,66316,147
Noncurrent Liabilities
Long-term debt and lease obligation, including:24,43225,32925,63424,96828,73028,127
Finance lease, liability630401451525576 
Other undisclosed long-term debt and lease obligation23,80224,92825,18323,51627,14026,252
Liabilities, other than long-term debt7,9987,9188,0456,8408,5078,241
Asset retirement obligations210218186187183206
Deferred income tax liabilities5,7715,8345,9045,6386,2036,392
Liability, pension and other postretirement and postemployment benefits1,1571,1021,1141,0152,1211,643
Operating lease, liability8607648419271,0141,875
Other undisclosed noncurrent liabilities1,0951,1911,1182,0862,0382,934
Total noncurrent liabilities:33,52534,43834,79733,89439,27539,302
Total liabilities:54,35254,58854,81751,79254,93855,449
Temporary equity, including noncontrolling interest 203895968965968968
Equity
Equity, attributable to parent17,74524,40427,71526,20622,19933,694
Common stock101010101010
Treasury stock, value(52,623)(43,502)(31,841)(19,904)(15,157)(15,143)
Additional paid in capital33,62433,46533,40233,26233,20833,157
Accumulated other comprehensive income (loss)(114)(131)2(67)(512)(320)
Retained earnings36,84834,56226,14212,9054,65015,990
Equity, attributable to noncontrolling interest6,5586,1006,4046,4107,0538,445
Total equity:24,30330,50434,11932,61629,25242,139
TOTAL LIABILITIES AND EQUITY:78,85885,98789,90485,37385,15898,556

Income Statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues138,864148,379177,453119,98369,779123,949
Cost of revenue(130,423)(132,971)(156,772)(114,114)(69,846)(114,939)
Cost of product and service sold(126,240)(128,566)(151,671)(110,008)(65,733)(110,243)
Gross profit:8,44115,40820,6815,869(67)9,010
Operating expenses(3,193)(2,822)(1,711)(2,516)(11,433)(4,298)
Other undisclosed operating income (loss)1,5481,9282,499947(747)864
Operating income (loss):6,79614,51421,4694,300(12,247)5,576
Interest and debt expense(839)(525)(1,000)(1,483)(1,365)(1,247)
Income (loss) from continuing operations before income taxes:5,95713,98920,4692,817(13,612)4,329
Income tax expense (benefit)(890)(2,817)(4,491)(264)2,430(1,074)
Income (loss) from continuing operations:5,06711,17215,9782,553(11,182)3,255
Income (loss) before gain (loss) on sale of properties:✕✕✕✕2,553(11,182)3,255
Other undisclosed net income   728,4481,205 
Net income (loss):5,06711,17216,05011,001(9,977)3,255
Net income (loss) attributable to noncontrolling interest(1,622)(1,491)(1,534)(1,263)151(618)
Net income (loss) attributable to parent:3,4459,68114,5169,738(9,826)2,637
Preferred stock dividends and other adjustments  (2)    
Undistributed earnings (loss) allocated to participating securities, basic(3)(7)(8)(2)(1)(1)
Net income (loss) available to common stockholders, diluted:3,4429,67214,5089,736(9,827)2,636

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2025
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income (loss):5,06711,17216,05011,001(9,977)3,255
Net loss attributable to redeemable noncontrolling interest (27)✕✕✕✕✕
Other comprehensive income (loss)17(133)69445(192)(176)
Comprehensive income (loss):5,08411,03916,11911,446(10,169)3,079
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1,622)(1,491)(1,534)(1,263)151(618)
Comprehensive income (loss), net of tax, attributable to parent:3,4629,54814,58510,183(10,018)2,461

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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