Marathon Petroleum Corp
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 27, 2025
MPC$389.55-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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23. 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, 2021 | $(117) | $49 | $1 | $(67) |
| Other comprehensive income (loss) before reclassifications, net of tax of $11 | (70) | 129 | (1) | 58 |
| Amounts reclassified from accumulated other comprehensive loss: | ||||
| Amortization of prior service credit(a) | (45) | (22) | — | (67) |
| Amortization of actuarial loss(a) | 4 | 6 | — | 10 |
| Settlement loss(a) | 79 | — | — | 79 |
| Tax effect | (14) | 3 | — | (11) |
| Other comprehensive income (loss) | (46) | 116 | (1) | 69 |
| Balance as of December 31, 2022 | (163) | 165 | — | 2 |
| Other comprehensive income (loss) before reclassifications, net of tax of $(22) | (60) | (21) | 2 | (79) |
| Amounts reclassified from accumulated other comprehensive loss: | ||||
| Amortization of prior service credit(a) | (45) | (22) | — | (67) |
| Amortization of actuarial gain(a) | (5) | — | — | (5) |
| Settlement gain(a) | (1) | — | — | (1) |
| Other | — | — | (1) | (1) |
| Tax effect | 13 | 7 | — | 20 |
| Other comprehensive income (loss) | (98) | (36) | 1 | (133) |
| Balance as of December 31, 2023 | (261) | 129 | 1 | (131) |
| Other comprehensive income (loss) before reclassifications, net of tax of $16 | 44 | 10 | (2) | 52 |
| Amounts reclassified from accumulated other comprehensive loss: | ||||
| Amortization of prior service credit(a) | (33) | (22) | — | (55) |
| Amortization of actuarial loss(a) | 6 | — | — | 6 |
| Settlement loss(a) | 3 | — | — | 3 |
| Tax effect | 6 | 5 | — | 11 |
| Other comprehensive income (loss) | 26 | (7) | (2) | 17 |
| Balance as of December 31, 2024 | $(235) | $122 | $(1) | $(114) |
(a)These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost. See Note 24.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.