Marathon Petroleum Corp
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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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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Item 8. Consolidated Statements of Cash Flows
| (Millions of dollars) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Operating activities: | |||
| Net income | $5,067 | $11,172 | $16,050 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Amortization of deferred financing costs and debt discount | (31) | (78) | 50 |
| Depreciation and amortization | 3,337 | 3,307 | 3,215 |
| Pension and other postretirement benefits, net | 59 | (191) | 172 |
| Deferred income taxes | (124) | (28) | 290 |
| Net gain on disposal of assets | (28) | (217) | (1,061) |
| Income from equity method investments | (1,048) | (742) | (655) |
| Distributions from equity method investments | 1,215 | 941 | 772 |
| Income from discontinued operations | — | — | (72) |
| Changes in the fair value of derivative instruments | 71 | 70 | (147) |
| Changes in: | |||
| Current receivables | 1,117 | 2,109 | (2,858) |
| Inventories | (270) | (489) | (787) |
| Current liabilities and other current assets | (438) | (1,318) | 1,972 |
| Right of use assets and operating lease liabilities, net | (10) | (7) | — |
| All other, net | (252) | (412) | (622) |
| Cash provided by operating activities - continuing operations | 8,665 | 14,117 | 16,319 |
| Cash provided by operating activities - discontinued operations | — | — | 42 |
| Net cash provided by operating activities | 8,665 | 14,117 | 16,361 |
| Investing activities: | |||
| Additions to property, plant and equipment | (2,533) | (1,890) | (2,420) |
| Acquisitions, net of cash acquired | (688) | (246) | (413) |
| Disposal of assets | 35 | 36 | 90 |
| Investments – acquisitions and contributions | (509) | (480) | (405) |
| – redemptions, repayments, return of capital and sales proceeds | 161 | 275 | 515 |
| Purchases of short-term investments | (2,949) | (8,622) | (6,023) |
| Sales of short-term investments | 3,295 | 2,082 | 1,296 |
| Maturities of short-term investments | 4,526 | 5,048 | 7,159 |
| All other, net | 196 | 702 | 824 |
| Net cash provided by (used in) investing activities | 1,534 | (3,095) | 623 |
| Financing activities: | |||
| Long-term debt – borrowings | 1,631 | 1,589 | 3,379 |
| – repayments | (1,984) | (1,079) | (2,280) |
| Debt issuance costs | (15) | (15) | (39) |
| Issuance of common stock | 25 | 62 | 243 |
| Common stock repurchased | (9,189) | (11,572) | (11,922) |
| Dividends paid | (1,154) | (1,261) | (1,279) |
| Distributions to noncontrolling interests | (1,377) | (1,281) | (1,214) |
| Repurchases of noncontrolling interests | (326) | — | (491) |
| (Millions of dollars) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Redemption of noncontrolling interests - preferred units | — | (600) | — |
| All other, net | (45) | (50) | (44) |
| Net cash used in financing activities | (12,434) | (14,207) | (13,647) |
| Net change in cash, cash equivalents and restricted cash | $(2,235) | $(3,185) | $3,337 |
| Cash, cash equivalents and restricted cash at beginning of period(a) | 5,446 | 8,631 | 5,294 |
| Cash, cash equivalents and restricted cash at end of period(a) | $3,211 | $5,446 | $8,631 |
(a) Restricted cash is included in other current assets on our consolidated balance sheets.
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