Marathon Petroleum Corp
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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20. Revenue
- Revenue
The following table presents our revenues from external customers disaggregated by segment and product line:
| (Millions of dollars) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Refining & Marketing | |||
| Refined products | $122,429 | $132,675 | $160,737 |
| Crude oil | 7,298 | 7,423 | 8,962 |
| Services and other | 1,861 | 1,737 | 1,762 |
| Total revenues from external customers | 131,588 | 141,835 | 171,461 |
| Midstream | |||
| Refined products | 1,668 | 1,675 | 2,219 |
| Services and other(a) | 3,529 | 3,236 | 3,147 |
| Total revenues from external customers | 5,197 | 4,911 | 5,366 |
| Renewable Diesel | |||
| Refined products | 2,073 | 1,628 | 625 |
| Services and other | 6 | 5 | 1 |
| Total revenues from external customers | 2,079 | 1,633 | 626 |
| Sales and other operating revenues | $138,864 | $148,379 | $177,453 |
(a)Includes sales-type lease revenue. See Note 26.
We do not disclose information on the future performance obligations for any contract with expected duration of one year or less at inception. As of December 31, 2024, we do not have future performance obligations that are material to future periods.
Receivables
On the accompanying consolidated balance sheets, receivables, less allowance for doubtful accounts primarily consists of customer receivables. Significant, non-customer balances included in our receivables at December 31, 2024 include matching buy/sell receivables of $4.3 billion.
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