Marathon Petroleum Corp
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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FY2025 · Filed Feb 26, 2026
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13. Inventories
- Inventories
| December 31, | ||
|---|---|---|
| (Millions of dollars) | 2025 | 2024 |
| Crude oil and other feedstocks | $3,272 | $3,185 |
| Refined products | 5,350 | 5,137 |
| Materials and supplies | 1,507 | 1,246 |
| Total | $10,129 | $9,568 |
The cost of inventories of crude oil and other feedstocks and refined products is determined under the LIFO method. The LIFO method accounted for 85 percent and 87 percent of total inventory value at December 31, 2025 and December 31, 2024, respectively. Current acquisition costs were estimated to exceed the LIFO inventory value at December 31, 2025 and 2024 by $959 million and $2.53 billion, respectively.
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