v3.26.1
Master Limited Partnership
 6 Months Ended
Jun. 30, 2026
Noncontrolling Interest [Abstract]  
Master Limited Partnership Master Limited Partnership
We own the general partner and a majority limited partner interest in MPLX, which owns and operates crude oil and light product transportation and logistics infrastructure as well as gathering, processing and fractionation assets. We control MPLX through our ownership of the general partner interest and, as of June 30, 2026, we owned approximately 64 percent of the outstanding MPLX common units.
Unit Repurchase Program
On August 5, 2025, MPLX announced its board of directors approved a $1.0 billion unit repurchase authorization in addition to the $1.0 billion unit repurchase authorization announced on August 2, 2022. These unit repurchase authorizations have no expiration date.
Total unit repurchases were as follows for the respective periods:
Three Months Ended 
June 30,		Six Months Ended 
June 30,
(In millions, except per unit data)2026202520262025
Number of common units repurchased1 2 2 4 
Cash paid for common units repurchased$50 $100 $100 $200 
Average cost per unit$56.01 $50.31 $56.32 $51.38 
As of June 30, 2026, MPLX had approximately $1.02 billion remaining under its unit repurchase authorizations.
Agreements
We have various long-term, fee-based commercial agreements with MPLX. Under these agreements, MPLX provides transportation, storage, distribution and marketing services to us. With certain exceptions, these agreements generally contain minimum volume commitments. These transactions are eliminated in consolidation but are reflected as intersegment transactions among our Refining & Marketing, Renewable Diesel and Midstream segments. We also have agreements with MPLX that establish fees for operational and management services provided between us and MPLX and for executive management services and certain general and administrative services provided by us to MPLX. These transactions are eliminated in consolidation but are reflected as intersegment transactions between corporate and our Midstream segment.
Noncontrolling Interest
As a result of equity transactions of MPLX, we are required to adjust noncontrolling interest and additional paid-in capital. Changes in MPC’s additional paid-in capital resulting from changes in its ownership interests in MPLX were as follows:
Three Months Ended 
June 30,		Six Months Ended 
June 30,
(Millions of dollars)2026202520262025
Decrease due to change in ownership$(22)$(42)$(43)$(3)
Tax impact5 13 12 (1)
Decrease in MPC's additional paid-in capital, net of tax$(17)$(29)$(31)$(4)