v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 2,151 $ 3,672
Receivables, less allowance for expected credit loss of $16 and $20, respectively 14,629 10,317
Inventories 10,764 10,129
Other current assets 1,154 662
Total current assets 28,698 24,780
Equity method investments 6,999 6,795
Property, plant and equipment, net 37,597 37,397
Goodwill 9,335 9,354
Intangibles, net 2,658 2,714
Right of use assets, net 1,507 1,493
Other noncurrent assets 1,393 1,422
Total assets 88,187 83,955
Liabilities    
Accounts payable 17,617 12,974
Payroll and benefits payable 1,208 1,107
Accrued taxes 1,632 1,484
Debt due within one year 2,119 2,371
Operating lease liabilities 501 489
Other current liabilities 1,334 1,253
Total current liabilities 24,411 19,678
Long-term debt 30,706 30,505
Deferred income taxes 5,995 5,984
Defined benefit postretirement plan obligations 1,231 1,173
Long-term operating lease liabilities 1,000 993
Deferred credits and other liabilities 1,417 1,536
Total liabilities 64,760 59,869
Commitments and contingencies (see Note 22)
Equity [Abstract]    
Preferred stock, no shares issued and outstanding (par value $0.01 per share, 30 million shares authorized) 0 0
Common stock:    
Issued – 995 million and 994 million shares (par value $0.01 per share, 2 billion shares authorized) 10 10
Held in treasury, at cost – 702 million and 699 million shares (56,783) (56,027)
Additional paid-in capital 33,668 33,685
Retained earnings 39,966 39,751
Accumulated other comprehensive loss (108) (105)
Total MPC stockholders’ equity 16,753 17,314
Noncontrolling interests 6,674 6,772
Total equity 23,427 24,086
Total liabilities and equity $ 88,187 $ 83,955