Marathon Petroleum Corp
For the period ended Jun 30, 2025. Filed Aug 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 5, 2025
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8. Equity
- Equity
On November 5, 2024, MPC announced that our board of directors approved a $5.0 billion share repurchase authorization in addition to the $5.0 billion share repurchase authorization announced on April 30, 2024. As of June 30, 2025, $6.03 billion remained available for repurchase under the share repurchase authorizations. These share repurchase authorizations have no expiration date.
We may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, accelerated share repurchases, tender offers or open market solicitations for shares, some of which may be effected through Rule 10b5-1 plans. The timing and amount of future repurchases, if any, will depend upon several factors, including market and business conditions, and such repurchases may be suspended, discontinued or restarted at any time.
Total share repurchases were as follows for the respective periods:
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (In millions, except per share data) | 2025 | 2024 | 2025 | 2024 |
| Number of shares repurchased | 5 | 15 | 12 | 28 |
| Cash paid for shares repurchased(a) | $692 | $2,896 | $1,749 | $5,114 |
| Average cost per share(b) | $146.43 | $185.34 | $147.29 | $177.54 |
(a)2025 excludes $88 million paid in 2025 for excise tax on 2024 share repurchases.
(b)The average cost per share includes excise tax on share repurchases resulting from the Inflation Reduction Act of 2022, but the excise tax does not reduce the remaining share repurchase authorization.
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