Marathon Petroleum Corp
For the period ended Sep 30, 2024. Filed Nov 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 5, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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21. Accumulated Other Comprehensive Income (Loss)
- Accumulated Other Comprehensive Income (Loss)
The following table shows the changes in accumulated other comprehensive income (loss) by component. Amounts in parentheses indicate debits.
| (Millions of dollars) | Pension Benefits | Other Benefits | Other | Total |
|---|---|---|---|---|
| Balance as of December 31, 2022 | $(163) | $165 | $— | $2 |
| Other comprehensive gain (loss) before reclassifications, net of tax of $(2) | (9) | 3 | (2) | (8) |
| Amounts reclassified from accumulated other comprehensive loss: | ||||
| Amortization of prior service credit(a) | (34) | (16) | — | (50) |
| Amortization of actuarial gain(a) | (4) | — | — | (4) |
| Settlement gain(a) | (2) | — | — | (2) |
| Other | — | — | (1) | (1) |
| Tax effect | 10 | 4 | — | 14 |
| Other comprehensive loss | (39) | (9) | (3) | (51) |
| Balance as of September 30, 2023 | $(202) | $156 | $(3) | $(49) |
| (Millions of dollars) | Pension Benefits | Other Benefits | Other | Total |
|---|---|---|---|---|
| Balance as of December 31, 2023 | $(261) | $129 | $1 | $(131) |
| Other comprehensive gain (loss) before reclassifications, net of tax of $1 | 2 | (1) | (1) | — |
| Amounts reclassified from accumulated other comprehensive loss: | ||||
| Amortization of prior service credit(a) | (25) | (16) | — | (41) |
| Amortization of actuarial loss(a) | 5 | — | — | 5 |
| Tax effect | 5 | 4 | — | 9 |
| Other comprehensive loss | (13) | (13) | (1) | (27) |
| Balance as of September 30, 2024 | $(274) | $116 | $— | $(158) |
(a)These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost. See Note 22.
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