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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21. Supplemental Cash Flow Information
- Supplemental Cash Flow Information
| (Millions of dollars) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net cash provided by operating activities included: | |||
| Interest paid (net of amounts capitalized) | $1,247 | $1,200 | $1,060 |
| Income taxes paid to taxing authorities(a) | 732 | 2,751 | 4,869 |
| Cash paid for amounts included in the measurement of lease liabilities | |||
| Payments on operating leases | 532 | 493 | 498 |
| Interest payments under finance lease obligations | 25 | 25 | 24 |
| Net cash provided by financing activities included: | |||
| Principal payments under finance lease obligations | 82 | 79 | 79 |
| Non-cash investing and financing activities: | |||
| Right of use assets obtained in exchange for new operating lease obligations | 637 | 465 | 367 |
| Right of use assets obtained in exchange for new finance lease obligations | 302 | 21 | 60 |
| Contribution of assets(b) | — | — | 818 |
| Book value of equity method investment(c) | 50 | 311 | 150 |
(a)2024 includes $565 million paid to third parties for transferable tax credits.
(b)Represents the book value of property, plant and equipment, inventory and working capital contributed by MPC to Martinez Renewables LLC. See Note 14 for additional information.
(c) 2024 represents the book value of Coastal Holdings prior to MPC buying out the remaining 50 percent interest from our joint venture partner. 2023 represents the book value of MPLX’s equity method investment in Torñado, prior to MPLX buying out the remaining interest in this entity. 2022 represents the book value of MPC’s equity method investment in Watson Cogeneration Company and Tanker Holdings of $25 million and $125 million, respectively, prior to MPC buying out the remaining interest in these entities. See Note 14 for additional information.
The consolidated statements of cash flows exclude changes to the consolidated balance sheets that did not affect cash. The following is a reconciliation of additions to property, plant and equipment to total capital expenditures:
| (Millions of dollars) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Additions to property, plant and equipment per the consolidated statements of cash flows | $2,533 | $1,890 | $2,420 |
| Increase (decrease) in capital accruals | 34 | 184 | (37) |
| Total capital expenditures | $2,567 | $2,074 | $2,383 |
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