Marathon Petroleum Corporation

NYSE-MPC

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Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	1,943	1,610	346	785	1,015	1,955
Net Income
Depreciation & Amortization	850	798	805	839	841	823
Depreciation and Amortization
Amortization of Deferred Financing Costs and Debt Discount
Other Adjustments	1,730	-3,645	1,432	-3,197	-4,113	-2,097
Net Cash Provided by Financing Activities
Impairment Expense
LCM Inventory Valuation Adjustment
Pension and Other Postretirement Benefits, Net
Deferred Income Taxes
Net Gain on Disposal of Assets
Equity Method Investments, Net
Income from Equity Method Investments
Distributions from Equity Method Investments
Income from Discontinued Operations
Net Recognized (Gains) Losses on Investments and Derivatives
Changes in the Fair Value of Derivative Instruments
All Other, Net
All Other, Net
Changes in Trade Receivables	645	989	-928	-944	2,143	882
Current Receivables
Changes in Inventories	253	382	-920	318	-107	-19
Change in Inventories
Changes in Accounts Payable	—	—	—	—	—	—
Current Accounts Payable and Accrued Liabilities
Changes in Income Taxes Payable	—	—	—	—	—	—
Changes in Income Tax Receivable
Changes in Other Operating Activities	-625	-1,359	790	9,731	2,061.5	-494.5
Current Liabilities and Other Current Assets
Right of Use Assets and Operating Lease Liabilities, Net
Cash Provided by Operating Activities - Discontinued Operations
Changes in Income Tax Receivable
All Other, Net
Cash Provided by Operating Activities - Continuing Operations
Cash from Operating Activities	2,609	2,639	-64	10,872	6,016.5	3,242
Net Cash Provided by Operating Activities
Cash Provided by Operating Activities - Continuing Operations

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-947	-695	-663	-810	-651	-487
Additions to Property, Plant and Equipment
Proceeds from Sale of Property, Plant & Equipment	2	17	1	31	2	1
Disposal of Assets
Purchases of Investments	-333	-356	-132	-69	-291	-1,322
Investments - Acquisitions and Contributions
Purchases of Short-Term Investments
Proceeds from Sale of Investments	511	39	21	1,162	2,968	1,774
Investments - Redemptions, Repayments, Return of Capital and Sales Proceeds
Sales of Short-Term Investments
Maturities of Short-Term Investments
Payments for Business Acquisitions	-3,079	-118.5	-237	-66	-33	-311
Acquisitions, Net of Cash Acquired
Other Investing Activities	90	21	87	49	6	51
All Other, Net
Cash Provided by Investing Activities - Discontinued Operations
Cash Provided by Investing Activities - Continuing Operations
Cash from Investing Activities	-3,756	-974	-923	307	2,034	17
Net Cash Provided by Investing Activities
Cash Provided by Investing Activities - Continuing Operations

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Short-Term Debt	—	5,055	—	—	—	—
Commercial Paper - Issued
Repayments of Short-Term Debt	-210	-4,845	—	—	—	—
Commercial Paper - Repayments
Net Issuance / (Repayments) of Short-Term Debt	-210	210	—	—	—	—
Issuance of Long-Term Debt	5,234	1,560	4,372	0.5	1	1,630
Long-Term Debt - Borrowings
Repayments of Long-Term Debt	-1,463	-4,045	-930	-1,173	-773	-21
Repayments
Long-Term Debt - Repayments
Net Issuance / (Repayments) of Long-Term Debt	3,771	-2,485	3,442	-1,172.5	-772	1,609
Issuance of Common Shares	1	11.5	23	6	3	8
Issuance of Common Stock
Repurchases of Common Shares	-650	-780	-1,057	-1,374	-2,701	-2,896
Common Stock Repurchased
Net Issuance / (Repurchases) of Common Shares	-649	-768.5	-1,034	-1,368	-2,698	-2,888
Issuance of Preferred Shares	—	—	—	—	—	—
Issuance of MPLX LP Redeemable Preferred Units
Repurchases of Preferred Shares	—	—	—	—	—	—
Redemption of Noncontrolling Interests - Preferred Units
Net Issuance / (Repurchases) of Preferred Shares	—	—	—	—	—	—
Common Share Dividends Paid	-276	-279	-285	-292	-273	-290
Dividends Paid
Other Financing Activities	-509	-484	-534	-474.5	-411	-445
Debt Issuance Costs
Issuance of MPLX LP Common Units
Distributions to Noncontrolling Interests
Contributions from Noncontrolling Interests
Contingent Consideration Payment
Repurchases of Noncontrolling Interests
All Other, Net
Cash from Financing Activities	2,127	-3,804	1,589	-3,307	-4,157	-1,993
Net Cash Provided by Financing Activities

Free Cash Flow	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Free Cash Flow	1,662	1,944	-727	10,062	5,365.5	2,755
NOPAT	1,352.7	1,624.6	319.8	711.4	974.5	1,741.7
Levered Free Cash Flow	4,462	-1,933	3,380	9,276.5	1,994.5	2,946.5
Unlevered Free Cash Flow	883.7	750.6	331.8	10,789.4	3,119	1,564.2
Net Change in Cash	980	-2,139	602	7,872	3,893.5	1,266