Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. It operates in two segments, Refining & Marketing, and Midstream. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale. Its refined products include transportation fuels, such as reformulated gasolines and blend-grade gasolines; heavy fuel oil; and asphalt. This segment also manufactures aromatics, propane, propylene, and sulfur. It sells refined products to wholesale marketing customers in the United States and internationally, buyers on the spot market, and independent entrepreneurs who operate primarily Marathon branded outlets, as well as through long-term fuel supply contracts to direct dealer locations primarily under the ARCO brand. The Midstream segment transports, stores, distributes, and markets crude oil and refined products through refining logistics assets, pipelines, terminals, towboats, and barges; gathers, processes, and transports natural gas; and gathers, transports, fractionates, stores, and markets natural gas liquids. As of December 31, 2021, the company operated 7,159 brand jobber outlets in 37 states, the District of Columbia, and Mexico through independent entrepreneurs. Marathon Petroleum Corporation was founded in 1887 and is headquartered in Findlay, Ohio.

Marathon Petroleum Corporation

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Assets	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Cash and Cash Equivalents	2,654	1,673	3,812	3,210	4,002	4,441
Cash and Cash Equivalents
Short-Term Investments	—	—	—	—	1,141	4,058
Short-Term Investments
Total Cash and Cash Equivalents	2,654	1,673	3,812	3,210	5,143	8,499
Accounts Receivable	10,487	11,128	12,114	11,145	10,180	12,307
Receivables, Net
Receivables, Net
Total Trade Receivables	10,487	11,128	12,114	11,145	10,180	12,307
Inventories	9,829	10,106	10,488	9,568	9,886	9,800
Inventories
Inventories
Other Current Assets	1,660	821	726	524	740	741
Other Current Assets
Other Current Assets
Assets Held for Sale
Total Current Assets	24,630	23,728	27,140	24,447	25,949	31,347
Total Current Assets
Net Property, Plant & Equipment	38,357	36,204	36,192	36,328	35,734	35,873
Property, Plant and Equipment, Net
Right of Use Assets, Net
Net Intangible Assets	2,749	—	—	1,774	—	—
Intangibles, Net
Goodwill	9,331	8,244	8,244	8,244	8,244	8,244
Goodwill
Long-Term Investments	6,900	7,294	7,095	6,857	6,976	6,821
Equity Method Investments
Other Long-Term Assets	1,273	3,014	2,962	1,208	2,930	2,944
Other Noncurrent Assets
Total Assets	83,240	78,484	81,633	78,858	79,833	85,229
Total Assets

Liabilities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Accounts Payable	12,486	13,345	14,748	13,906	12,763	14,865
Accounts Payable
Accrued Expenses	2,349	2,170	2,420	2,300	2,269	2,446
Payroll and Benefits Payable
Consumer Excise Taxes Payable
Accrued Taxes
Current Portion of Long-Term Debt	1,612	1,819	4,065	3,049	4,167	4,903
Debt Due Within One Year
Current Portion of Leases	441	446	410	417	485	463
Operating Lease Liabilities
Other Current Liabilities	1,840	1,475	1,082	1,155	1,384	1,323
Other Current Liabilities
Liabilities Held for Sale
Total Current Liabilities	18,728	19,255	22,725	20,827	21,068	24,000
Total Current Liabilities
Long-Term Debt	31,232	26,835	26,845	24,432	24,053	24,034
Long-Term Debt
Leases	918	935	817	860	691	711
Long-Term Operating Lease Liabilities
Other Long-Term Liabilities	8,473	8,195	8,181	8,233	8,309	8,396
Deferred Income Taxes
Defined Benefit Postretirement Plan Obligations
Deferred Credits and Other Liabilities
Total Long-Term Liabilities	40,623	35,965	35,843	33,525	33,053	33,141
Total Liabilities	59,351	55,220	58,568	54,352	54,121	57,141
Total Liabilities

Equity	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Common Stock	10	10	10	10	10	10
Issued
Treasury Stock	-55,016	-54,360	-53,662	-52,623	-51,320	-48,592
Held in Treasury, at Cost
Additional Paid-in Capital	33,695	33,658	33,668	33,624	33,630	33,635
Additional Paid-in Capital
Accumulated Other Comprehensive Income	-109	-108	-109	-114	-158	-152
Accumulated Other Comprehensive Loss
Retained Earnings	38,517	37,424	36,489	36,848	36,771	36,423
Retained Earnings
Total Common Shareholders' Equity	17,097	16,624	16,396	17,745	18,933	21,324
Total MPC Stockholders' Equity
Minority Interests and Other	6,792	6,640	6,669	6,761	6,779	6,764
Redeemable Noncontrolling Interest
Noncontrolling Interests
Total Shareholders' Equity	23,889	23,264	23,065	24,506	25,712	28,088
Total Liabilities and Shareholders' Equity	83,240	78,484	81,633	78,858	79,833	85,229
Total Liabilities, Redeemable Noncontrolling Interest and Equity