Marathon Petroleum Corp

For the period ended Dec 31, 2024. Filed Feb 27, 2025.

About this filing

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$389.88+4.6%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Financial Statements and Supplementary Data

INDEX

Page
Management’s Responsibilities for Financial Statements		76
Management’s Report on Internal Control over Financial Reporting	76
Report of Independent Registered Public Accounting Firm	(PCAOB ID 238)	77
Audited Consolidated Financial Statements:
Consolidated Statements of Income		79
Consolidated Statements of Comprehensive Income		80
Consolidated Balance Sheets		81
Consolidated Statements of Cash Flows		82
Consolidated Statements of Equity and Redeemable Noncontrolling Interest	84
Notes to Consolidated Financial Statements		85
1. Description of Business and Basis of Presentation	85
2. Summary of Principal Accounting Policies		85
3. Accounting Standards and Disclosure Rules		90
4. Short-Term Investments		91
5. Master Limited Partnership		91
6. Variable Interest Entities		92
7. Related Party Transactions		93
8. Earnings Per Share		93
9. Equity		94
10. Segment Information		95
11. Net Interest and Other Financial Costs		98
12. Income Taxes		99
13. Inventories		101
14. Equity Method Investments		101
15. Property, Plant and Equipment (PP&E)		105
16. Goodwill and Intangibles		105
17. Fair Value Measurements		106
18. Derivatives		108
19. Debt		109
20. Revenue		113
21. Supplemental Cash Flow Information		114
22. Other Current Liabilities		114
23. Accumulated Other Comprehensive Income (Loss)	115
24. Pension and Other Postretirement Benefits		115
25. Share-Based Compensation		121
26. Leases		123
27. Commitments and Contingencies		126
28. Subsequent Event		128

Unless otherwise stated or the context otherwise indicates, all references in this Annual Report on Form 10-K to “MPC,” “us,” “our,” “we” or the “Company” mean Marathon Petroleum Corporation and its consolidated subsidiaries.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.