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

Sales and Other Operating Revenues

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Net Income

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Cost of Sales

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Income Statement	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Total Revenues	65,316	68,244	70,620	77,172	71,207	85,600
Total Revenues %Chg	-7.5%	-11.6%	-0.8%	-9.8%	-22.5%	26.5%
Sales and Other Operating Revenues
Sales to Related Parties
Cost of Sales	59,385	62,702	63,538	67,510	61,056	72,396
Cost of Revenues
Purchases from Related Parties
Consumer Excise Taxes
Gross Profit	5,931	5,542	7,082	9,662	10,151	13,204
Gross Profit Margin	9.1%	8.1%	10%	12.5%	14.3%	15.4%
Selling, General & Administrative Expenses	1,650	1,619	1,602	1,644	1,395	1,475
Selling, General and Administrative Expenses
Depreciation & Amortization Expenses	1,582	1,672	1,665	1,673	1,634	1,591
Depreciation and Amortization
Other Operating Expenses	450	356	462	431	450	443
Impairment Expense
Restructuring Expenses
Other Taxes
LCM Inventory Valuation Adjustment
Operating Profit	2,249	1,895	3,353	5,914	6,672	9,695
Operating Margin	3.4%	2.8%	4.7%	7.7%	9.4%	11.3%
Interest and Investment Income	442	471	577	410	332	366
Income from Equity Method Investments
Interest Expense	-623	-466	-373	-229	-296	-426
Net Interest and Other Financial Costs
Net Interest and Other Financial Income
Non-Operating Income	193	124	376	824	362	1,364
Net Gain on Disposal of Assets
Other Income
Total Non-Operating Income	12	129	580	1,005	398	1,304
Income Before Provision for Income Taxes	2,261	2,024	3,933	6,919	7,070	10,999
Income Before Income Taxes
Provision for Income Taxes	305	224	666	1,411	1,406	2,410
Provision for Income Taxes
Consolidated Net Income	1,956	1,800	3,267	5,508	5,664	8,589
Net Income Attributable to Minority Interests and Other	814	807	815	777	714	863
Redeemable Noncontrolling Interest
Noncontrolling Interests
Net Income Attributable to Discontinued Operations	—	—	—	—	—	72
Income from Discontinued Operations, Net of Tax
Net Income Attributable to Common Shareholders	1,142	993	2,452	4,731	4,950	7,798
Net Income Attributable to MPC
Basic EPS	3.7	3.2	6.9	12.2	11.5	16.1
Diluted EPS	3.7	3.2	6.9	12.2	11.4	16
Basic Weighted Average Shares Outstanding	309	325	355	384	430	475
Total Shares Outstanding	304	316	341	368	405	454
Diluted Weighted Average Shares Outstanding	310	326	356	386	432	479
EBITDA	3,852	3,575	4,979	7,536	8,279	11,303
Effective Tax Rate	13.5%	11.1%	16.9%	20.4%	19.9%	21.9%