MARATHON PETROLEUM CORP, 10-K filed on 2/26/2026
Annual Report
v3.25.4
Cover Page - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2025
Feb. 20, 2026
Jun. 30, 2025
Cover [Abstract]      
Entity Central Index Key 0001510295    
Current Fiscal Year End Date --12-31    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus (Q1,Q2,Q3,FY) FY    
Amendment Flag false    
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Document Transition Report false    
Entity File Number 001-35054    
Entity Registrant Name Marathon Petroleum Corporation    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 27-1284632    
Entity Address, Address Line One 539 South Main Street    
Entity Address, City or Town Findlay    
Entity Address, State or Province OH    
Entity Address, Postal Zip Code 45840-3229    
City Area Code 419    
Local Phone Number 422-2121    
Title of 12(b) Security Common Stock, par value $.01    
Trading Symbol MPC    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 50.6
Entity Common Stock, Shares Outstanding   294,740,164  
v3.25.4
Audit Information
 12 Months Ended
Dec. 31, 2025
Auditor Information [Abstract]  
Auditor Firm ID 238
Auditor Name PricewaterhouseCoopers LLP
Auditor Location Toledo, Ohio
v3.25.4
Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues and other income:      
Sales and other operating revenues $ 132,699 $ 138,864 $ 148,379
Income from equity method investments 1,622 1,048 742
Net gain on disposal of assets 173 28 217
Other income 728 472 969
Revenues And Other Income 135,222 140,412 150,307
Costs and expenses:      
Cost of revenues (excludes items below) 119,446 126,240 128,566
Depreciation and amortization 3,251 3,337 3,307
Selling, general and administrative expenses 3,349 3,221 3,039
Other taxes 885 818 881
Total costs and expenses 126,931 133,616 135,793
Income from operations 8,291 6,796 14,514
Net interest and other financial costs 1,276 839 525
Income before income taxes 7,015 5,957 13,989
Provision for income taxes 1,137 890 2,817
Net income 5,878 5,067 11,172
Less net income attributable to:      
Redeemable noncontrolling interest 0 27 94
Noncontrolling interests 1,831 1,595 1,397
Net income attributable to MPC $ 4,047 $ 3,445 $ 9,681
Basic:      
Net income attributable to MPC per share, basic $ 13.24 $ 10.11 $ 23.73
Weighted Average Number of Shares Outstanding, Basic 305 340 407
Diluted earnings per share:      
Net income attributable to MPC per share, diluted $ 13.22 $ 10.08 $ 23.63
Weighted Average Number of Shares Outstanding, Diluted 306 341 409
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Net income $ 5,878 $ 5,067 $ 11,172
Other comprehensive income (loss) 9 17 (133)
Comprehensive income 5,887 5,084 11,039
Less comprehensive income attributable to:      
Redeemable noncontrolling interest 0 27 94
Noncontrolling interests 1,831 1,595 1,397
Comprehensive income attributable to MPC 4,056 3,462 9,548
Actuarial changes      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss) 32 60 (85)
Prior service      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss) (23) (41) (49)
Other      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
Other comprehensive income (loss) $ 0 $ (2) $ 1
v3.25.4
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Actuarial changes      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
OCI, tax expense (benefit) $ 10 $ 20 $ (24)
Prior service      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
OCI, tax expense (benefit) (8) (14) (18)
Other      
Accumulated Other Comprehensive Income (Loss) [Line Items]      
OCI, tax expense (benefit) $ 0 $ 1 $ 0
v3.25.4
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 3,672 $ 3,210
Receivables, less allowance for expected credit loss of $20 and $73, respectively 10,317 11,145
Inventories 10,129 9,568
Other current assets 662 524
Total current assets 24,780 24,447
Equity method investments 6,795 6,857
Property, plant and equipment, net [1] 37,397 35,028
Goodwill 9,354 8,244
Intangibles, net 2,714 1,774
Right of use assets, net 1,493 1,300
Other noncurrent assets 1,422 1,208
Total assets 83,955 78,858
Liabilities    
Accounts payable 12,974 13,906
Payroll and benefits payable 1,107 1,096
Accrued taxes 1,484 1,204
Debt due within one year 2,371 3,049
Operating lease liabilities 489 417
Other current liabilities 1,253 1,155
Total current liabilities 19,678 20,827
Long-term debt 30,505 24,432
Deferred income taxes 5,984 5,771
Defined benefit postretirement plan obligations 1,173 1,157
Long-term operating lease liabilities 993 860
Deferred credits and other liabilities 1,536 1,305
Total liabilities 59,869 54,352
Commitments and contingencies (see Note 27)
Redeemable noncontrolling interest 0 203
Equity    
Preferred stock, no shares issued and outstanding (par value $0.01 per share, 30 million shares authorized) 0 0
Common stock:    
Issued – 994 million and 994 million shares (par value $0.01 per share, 2 billion shares authorized) 10 10
Held in treasury, at cost – 699 million and 678 million shares (56,027) (52,623)
Additional paid-in capital 33,685 33,624
Retained earnings 39,751 36,848
Accumulated other comprehensive loss (105) (114)
Total MPC stockholders’ equity 17,314 17,745
Noncontrolling interests 6,772 6,558
Total equity 24,086 24,303
Total liabilities, redeemable noncontrolling interest and equity $ 83,955 $ 78,858
[1] Includes finance leases. See Note 26.
v3.25.4
Consolidated Balance Sheets (Parenthetical) - USD ($)
shares in Millions, $ in Millions
Dec. 31, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Receivables, allowance for expected credit losses, current $ 20 $ 73
Preferred Stock:    
Shares issued 0 0
Shares outstanding 0 0
Par value per share $ 0.01  
Shares authorized 30  
Common stock:    
Shares issued 994 994
Par value per share $ 0.01  
Shares authorized 2,000  
Treasury stock, common, shares (699) (678)
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net income $ 5,878 $ 5,067 $ 11,172
Adjustments to reconcile net income to net cash provided by operating activities      
Amortization of deferred financing costs and debt discount 39 (31) (78)
Depreciation and amortization 3,251 3,337 3,307
Pension and other postretirement benefits, net 16 59 (191)
Deferred income taxes 282 (124) (28)
Net gain on disposal of assets (173) (28) (217)
Income from equity method investments (1,622) (1,048) (742)
Distributions from equity method investments 1,255 1,215 941
Changes in the fair value of derivative instruments (16) 71 70
Changes in:      
Current receivables 890 1,117 2,109
Inventories (596) (270) (489)
Current liabilities and other current assets (776) (438) (1,318)
Right of use assets and operating lease liabilities, net 13 (10) (7)
All other, net (188) (252) (412)
Net cash provided by operating activities 8,253 8,665 14,117
Investing activities:      
Additions to property, plant and equipment (3,486) (2,533) (1,890)
Acquisitions, net of cash acquired (3,316) (688) (246)
Disposal of assets 1,005 35 36
Investments – acquisitions and contributions (1,064) (509) (480)
Investments – redemptions, repayments, return of capital and sales proceeds 721 161 275
Purchases of short-term investments 0 (2,949) (8,622)
Sales of short-term investments 0 3,295 2,082
Maturities of short-term investments 0 4,526 5,048
All other, net 273 196 702
Net cash provided by (used in) investing activities (5,867) 1,534 (3,095)
Financing activities:      
Commercial paper – issued 5,055 0 0
Commercial paper– repayments (5,055) 0 0
Long-term debt – borrowings 11,166 1,631 1,589
Long-term debt – repayments (6,463) (1,984) (1,079)
Debt issuance costs (80) (15) (15)
Issuance of common stock 24 25 62
Common stock repurchased (3,488) (9,189) (11,572)
Dividends paid (1,140) (1,154) (1,261)
Distributions to noncontrolling interests (1,513) (1,377) (1,281)
Repurchases of noncontrolling interests (400) (326) 0
Redemption of noncontrolling interests - preferred units 0 0 (600)
All other, net (30) (45) (50)
Net cash used in financing activities (1,924) (12,434) (14,207)
Net change in cash, cash equivalents and restricted cash 462 (2,235) (3,185)
Cash, cash equivalents, restricted cash and restricted cash equivalents, ending balance [1] 3,673 3,211 5,446
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning balance [1] $ 3,211 $ 5,446 $ 8,631
[1] Restricted cash is included in other current assets on our consolidated balance sheets.
v3.25.4
Consolidated Statements of Equity and Redeemable Noncontrolling Interest (Consolidated Statements of Equity) - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Treasury Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Non-controlling Interests
Redeemable Non-controlling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Common Stock, Shares, Issued   990            
Treasury stock, common, shares     (536)          
Redeemable noncontrolling interest               $ 968
Beginning balance at Dec. 31, 2022 $ 34,119 $ 10 $ (31,841) $ 33,402 $ 26,142 $ 2 $ 6,404  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 11,078       9,681   1,397  
Dividends declared on common stock (1,261)       (1,261)      
Distributions to noncontrolling interests (1,187)           (1,187)  
Other comprehensive income (loss) (133)         (133)    
Shares repurchased (11,661)   (11,661)          
Share-based compensation 75     67 2   6  
Equity transactions of MPLX (526)     (4) (2)   (520)  
Ending balance at Dec. 31, 2023 30,504 $ 10 $ (43,502) 33,465 34,562 (131) 6,100  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Redeemable noncontrolling interest $ 94             94
Temporary Equity, Other Changes               (94)
Stock Redeemed or Called During Period, Value               (73)
Number of shares repurchased (89)   (89)          
Shares issued - stock-based compensation   3            
Common Stock, Shares, Issued   993            
Treasury stock, common, shares     (625)          
Redeemable noncontrolling interest               895
Net income $ 5,040       3,445   1,595  
Dividends declared on common stock (1,154)       (1,154)      
Distributions to noncontrolling interests (1,333)           (1,333)  
Other comprehensive income (loss) 17         17    
Shares repurchased (9,121)   $ (9,121)          
Share-based compensation 57     55 (5)   7  
Equity transactions of MPLX 293     104 0   189  
Ending balance at Dec. 31, 2024 24,303 $ 10 $ (52,623) 33,624 36,848 (114) 6,558  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Redeemable noncontrolling interest $ 27             27
Temporary Equity, Other Changes               (44)
Stock Redeemed or Called During Period, Value               (675)
Number of shares repurchased (53)   (53)          
Shares issued - stock-based compensation   1            
Common Stock, Shares, Issued 994 994            
Treasury stock, common, shares (678)   (678)          
Redeemable noncontrolling interest $ 203             203
Net income 5,878       4,047   1,831  
Dividends declared on common stock (1,140)       (1,140)      
Distributions to noncontrolling interests (1,507)           (1,507)  
Other comprehensive income (loss) 9         9    
Shares repurchased (3,404)   $ (3,404)          
Shares returned - share-based compensation     0          
Share-based compensation 75     75 (4)   4  
Equity transactions of MPLX (128)     (14) 0   (114)  
Ending balance at Dec. 31, 2025 24,086 $ 10 $ (56,027) $ 33,685 $ 39,751 $ (105) $ 6,772  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Redeemable noncontrolling interest $ 0             0
Temporary Equity, Other Changes               (6)
Stock Redeemed or Called During Period, Value               (197)
Number of shares repurchased (21)   (21)          
Shares issued - stock-based compensation   0            
Common Stock, Shares, Issued 994 994            
Treasury stock, common, shares (699)   (699)          
Redeemable noncontrolling interest $ 0             $ 0
v3.25.4
Consolidated Statements of Equity and Redeemable Noncontrolling Interest (Shares of Common Stock) - shares
shares in Millions
Total
Common Stock
Beginning balance at Dec. 31, 2022   990
Shares issued - stock-based compensation   3
Ending balance at Dec. 31, 2023   993
Shares issued - stock-based compensation   1
Ending balance at Dec. 31, 2024 994 994
Shares issued - stock-based compensation   0
Ending balance at Dec. 31, 2025 994 994
v3.25.4
Consolidated Statements of Equity ad Redeemable Noncontrolling Interest (Shares of Treasury Stock) - shares
shares in Millions
Total
Treasury Stock
Beginning balance at Dec. 31, 2022   (536)
Number of shares repurchased (89) (89)
Ending balance at Dec. 31, 2023   (625)
Number of shares repurchased (53) (53)
Ending balance at Dec. 31, 2024 (678) (678)
Number of shares repurchased (21) (21)
Ending balance at Dec. 31, 2025 (699) (699)
v3.25.4
Consolidated Statements of Equity and Redeemable Noncontrolling Interest (Redeemable Noncontrolling Interest) - USD ($)
$ in Millions
Total
Redeemable Non-controlling Interest
Beginning balance at Dec. 31, 2022   $ 968
Net income attributable to redeemable noncontrolling interest $ 94 94
Distributions to noncontrolling interests   (94)
Equity transactions of MPLX   (73)
Ending balance at Dec. 31, 2023   895
Net income attributable to redeemable noncontrolling interest 27 27
Distributions to noncontrolling interests   (44)
Equity transactions of MPLX   (675)
Ending balance at Dec. 31, 2024 203 203
Net income attributable to redeemable noncontrolling interest 0 0
Distributions to noncontrolling interests   (6)
Equity transactions of MPLX   (197)
Ending balance at Dec. 31, 2025 $ 0 $ 0
v3.25.4
Consolidated Statements of Equity and Redeemable Noncontrolling Interest (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Stockholders' Equity [Abstract]      
Dividends declared per share of common stock (in dollars per share) $ 3.73 $ 3.385 $ 3.075
v3.25.4
Description of the Business and Basis of Presentation
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of the Business and Basis of Presentation Description of the Business and Basis of Presentation
Description of the Business
We are a leading, integrated, downstream and midstream energy company headquartered in Findlay, Ohio. We operate one of the nation's largest refining systems. We sell refined products to wholesale marketing customers domestically and internationally, to buyers on the spot market and to independent entrepreneurs who operate branded outlets. We also sell transportation fuel to consumers through direct dealer locations under long-term supply contracts. MPC’s midstream operations are primarily conducted through MPLX, which owns and operates crude oil and light product transportation and logistics infrastructure as well as gathering, processing and fractionation assets. We own the general partner and a majority limited partner interest in MPLX. In addition, we produce and market renewable diesel in the United States.
Refer to Notes 4 and 10 for additional information about our operations.
Basis of Presentation
All significant intercompany transactions and accounts have been eliminated.
Certain prior period financial statement amounts have been reclassified to conform to current period presentation.
v3.25.4
Summary of Principal Accounting Policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary Of Principal Accounting Policies
2. Summary of Principal Accounting Policies
Principles Applied in Consolidation
These consolidated financial statements include the accounts of our majority-owned, controlled subsidiaries and MPLX. As of December 31, 2025, we owned the general partner of MPLX and approximately 64 percent of the outstanding MPLX common units. Due to our ownership of the general partner interest, we have determined that we control MPLX and therefore we consolidate MPLX and record a noncontrolling interest for the interest owned by the public. Changes in ownership interest in consolidated subsidiaries that do not result in a change in control are recorded as equity transactions.
Investments in entities over which we have significant influence, but not control, are accounted for using the equity method of accounting. This includes entities in which we hold majority ownership but the minority shareholders have substantive participating rights. Income from equity method investments represents our proportionate share of net income generated by the equity method investees.
Differences in the basis of the investments and the separate net asset values of the investees, if any, are amortized into net income over the remaining useful lives of the underlying assets and liabilities, except for any excess related to goodwill. Equity method investments are evaluated for impairment whenever changes in the facts and circumstances indicate an other than temporary loss in value has occurred. When the loss is deemed to be other than temporary, the carrying value of the equity method investment is written down to fair value.
Use of Estimates
The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the respective reporting periods. Actual results could differ from those estimates.
Revenue Recognition
We recognize revenue based on consideration specified in contracts or agreements with customers when we satisfy our performance obligations by transferring control over products or services to a customer. We made an accounting policy election that all taxes assessed by a governmental authority that are both imposed on and concurrent with a revenue-producing transaction and collected from our customers will be recognized on a net basis within sales and other operating revenues.
Our revenue recognition patterns are described below by reportable segment:
•Refining & Marketing and Renewable Diesel - The vast majority of our Refining & Marketing and Renewable Diesel contracts contain pricing that is based on the market price for the product at the time of delivery. Our obligations to deliver product volumes are typically satisfied and revenue is recognized when control of the product transfers to our customers. Concurrent with the transfer of control, we typically receive the right to payment for the delivered product, the customer accepts the product and the customer has significant risks and rewards of ownership of the product. Payment terms require customers to pay shortly after delivery and do not contain significant financing components.
•Midstream - Midstream revenue transactions typically are defined by contracts under which we sell a product or provide a service. Revenues from sales of product are recognized when control of the product transfers to the customer.
Revenues from services are recognized over time when the performance obligation is satisfied as services are provided in a series. We have elected to use the output measure of progress to recognize revenue based on the units delivered, processed or transported. The transaction prices in our Midstream contracts often have both fixed components, related to minimum volume commitments, and variable components, which are primarily dependent on volumes. Variable consideration will generally not be estimated at contract inception as the transaction price is specifically allocable to the services provided at each period end.
Refer to Note 20 for disclosure of our revenue disaggregated by segment and product line and to Note 10 for a description of our reportable segment operations.
Crude Oil and Refined Product Exchanges and Matching Buy/Sell Transactions
We enter into exchange contracts and matching buy/sell arrangements whereby we agree to deliver a particular quantity and quality of crude oil or refined products at a specified location and date to a particular counterparty and to receive from the same counterparty the same commodity at a specified location on the same or another specified date. The exchange receipts and deliveries are nonmonetary transactions, with the exception of associated grade or location differentials that are settled in cash. The matching buy/sell purchase and sale transactions are settled in cash. No revenues are recorded for exchange and matching buy/sell transactions as they are accounted for as exchanges of inventory. The exchange transactions are recognized at the carrying amount of the inventory transferred.
Cash and Cash Equivalents
Cash and cash equivalents include cash on hand and on deposit and investments in highly liquid debt instruments with original maturities of three months or less.
Accounts Receivable and Allowance for Expected Credit Loss
Our receivables primarily consist of customer accounts receivable. Customer receivables are recorded at the invoiced amounts and generally do not bear interest. Allowances for expected credit loss are generally recorded when it becomes probable the receivable will not be collected and are booked to bad debt expense. The allowance for expected credit loss is the best estimate of the amount of probable credit losses in customer accounts receivable. We review the allowance quarterly and past-due balances over 150 days are reviewed individually for collectability. 
We mitigate credit risk with master netting agreements with companies engaged in the crude oil or refinery feedstock trading and supply business or the petroleum refining industry. A master netting agreement generally provides for a once per month net cash settlement of the accounts receivable from and the accounts payable to a particular counterparty.
Leases
Contracts with a term greater than one year that convey the right to direct the use of and obtain substantially all of the economic benefit of an asset are accounted for as right of use assets.
Right of use asset and lease liability balances are recorded at the commencement date at present value of the fixed lease payments using a secured incremental borrowing rate with a maturity similar to the lease term because our leases do not provide implicit rates. We have elected to include both lease and non-lease components in the present value of the lease payments for all lessee asset classes with the exception of our marine and third-party contractor service equipment leases. The lease component of the payment for the marine and equipment asset classes is determined using a relative standalone selling price. See Note 26 for additional disclosures about our lease contracts.
As a lessor under ASU No. 2016-02, Leases (“ASC 842”), MPLX may be required to reclassify existing operating leases to sales-type leases upon modification and related reassessment of the leases. See Note 26 for further information regarding our ongoing evaluation of the impacts of lease reassessments as modifications occur. The net investment in sales-type leases is recorded within receivables, net and other noncurrent assets on the consolidated balance sheets. These amounts are comprised of the present value of the sum of the future minimum lease payments representing the value of the lease receivable and the unguaranteed residual value of the lease assets. Management assesses the net investment in sales-type leases for recoverability quarterly.
Inventories
Inventories are carried at the lower of cost or market value. Cost of inventories is determined primarily under the LIFO method. Costs for crude oil and other feedstocks and refined product inventories are aggregated on a consolidated basis for purposes of assessing if the LIFO cost basis of these inventories may have to be written down to market value.
Fair Value
We account for certain assets and liabilities at fair value. The hierarchy below lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market. We categorize each of our fair value measurements in one of these three levels based on the lowest level input that is significant to the fair value measurement in its entirety. These levels are:
•Level 1 – inputs are based upon unadjusted quoted prices for identical instruments in active markets. Our Level 1 derivative assets and liabilities include exchange-traded contracts for crude oil and refined products measured at fair value with a market approach using the close-of-day settlement prices for the market. Commodity derivatives are covered under master netting agreements with an unconditional right to offset. Collateral deposits in futures commission merchant accounts covered by master netting agreements related to Level 1 commodity derivatives are classified as Level 1.
•Level 2 – inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs including interest rate curves, credit spreads, and forward and spot prices for currencies. Our Level 2 investments include commercial paper, certificates of deposit, time deposits and corporate notes and bonds. Our Level 2 derivative assets and liabilities primarily include certain OTC contracts.
•Level 3 – inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models. Our Level 3 assets and liabilities include goodwill, long-lived assets and intangible assets, when they are recorded at fair value due to an impairment charge and an embedded derivative liability relates to a natural gas purchase agreement embedded in a keep‑whole processing agreement. Unobservable inputs used in the models are significant to the fair values of the assets and liabilities.
Derivative Instruments
We use derivatives to economically hedge a portion of our exposure to commodity price risk and, historically, to interest rate risk. Our use of selective derivative instruments that assume market risk is limited. All derivative instruments (including derivative instruments embedded in other contracts) are recorded at fair value. Certain commodity derivatives are reflected on the consolidated balance sheets on a net basis by counterparty as they are governed by master netting agreements. Cash flows related to derivatives used to hedge commodity price risk and interest rate risk are classified in operating activities with the underlying transactions.
Derivatives not designated as accounting hedges
Derivatives that are not designated as accounting hedges may include commodity derivatives used to hedge price risk on (1) inventories, (2) fixed price sales of refined products, (3) the acquisition of foreign-sourced crude oil, (4) the acquisition of ethanol for blending with refined products, (5) the sale of NGLs, (6) the purchase of natural gas, (7) the purchase of soybean oil and (8) the sale of propane. Changes in the fair value of derivatives not designated as accounting hedges are recognized immediately in net income.
Concentrations of credit risk
All of our financial instruments, including derivatives, involve elements of credit and market risk. The most significant portion of our credit risk relates to nonperformance by counterparties. The counterparties to our financial instruments consist primarily of major financial institutions and companies within the energy industry. To manage counterparty risk associated with financial instruments, we select and monitor counterparties based on an assessment of their financial strength and on credit ratings, if available. Additionally, we limit the level of exposure with any single counterparty.
Variable Interest Entities
We evaluate all legal entities in which we hold an ownership or other pecuniary interest to determine if the entity is a VIE. Our interests in a VIE are referred to as variable interests. Variable interests can be contractual, ownership or other pecuniary interests in an entity that change with changes in the fair value of the VIE’s assets. When we conclude that we hold an interest in a VIE, we must determine if we are the entity’s primary beneficiary. A primary beneficiary is deemed to have a controlling financial interest in a VIE. This controlling financial interest is evidenced by both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses that could potentially be significant to the VIE or the right to receive benefits that could potentially be significant to the VIE. We consolidate any VIE when we determine that we are the primary beneficiary. We must disclose the nature of any interests in a VIE that is not consolidated.
Significant judgment is exercised in determining that a legal entity is a VIE and in evaluating our interest in a VIE. We use primarily a qualitative analysis to determine if an entity is a VIE. We evaluate the entity’s need for continuing financial support; the equity holder’s lack of a controlling financial interest; and/or if an equity holder’s voting interests are disproportionate to its obligation to absorb expected losses or receive residual returns. We evaluate our interests in a VIE to determine whether we are the primary beneficiary. We use a primarily qualitative analysis to determine if we are deemed to have a controlling financial interest in the VIE, either on a standalone basis or as part of a related party group. We continually monitor our interests in legal entities for changes in the design or activities of an entity and changes in our interests, including our status as the primary beneficiary to determine if the changes require us to revise our previous conclusions.
Changes in the design or nature of the activities of a VIE, or our involvement with a VIE, may require us to reconsider our conclusions on the entity’s status as a VIE and/or our status as the primary beneficiary. Such reconsideration requires significant
judgment and understanding of the organization. This could result in the deconsolidation or consolidation of the affected subsidiary, which would have a significant impact on our financial statements.
Variable Interest Entities are discussed in Note 6.
Property, Plant and Equipment
Property, plant and equipment are recorded at cost and depreciated on a straight-line basis over the estimated useful lives of the assets, generally 10 to 40 years for refining and midstream assets, 25 years for office buildings and 4 to 7 years for other miscellaneous fixed assets. Such assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. If the sum of the expected undiscounted future cash flows from the use of the asset group and its eventual disposition is less than the carrying amount of the asset group, an impairment assessment is performed and the excess of the book value over the fair value of the asset group is recorded as an impairment loss.
When items of property, plant and equipment are sold or otherwise disposed of, any gains or losses are reported in net income. Gains on the disposal of property, plant and equipment are recognized when earned, which is generally at the time of closing. If a loss on disposal is expected, such losses are recognized when the assets are classified as held for sale.
Interest expense is capitalized for qualifying assets under construction. Capitalized interest costs are included in property, plant and equipment and are depreciated over the useful life of the related asset.
Goodwill and Intangible Assets
Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in the acquisition of a business. Goodwill is not amortized, but rather is tested for impairment at the reporting unit level annually and when events or changes in circumstances indicate that the fair value of a reporting unit with goodwill has been reduced below carrying value. If we determine, based on a qualitative assessment, that it is more likely than not that a reporting unit’s fair value exceeds its carrying amount, no further impairment testing is required. If we do not perform a qualitative assessment or if that assessment indicates that further impairment testing is required, the fair value of each reporting unit is determined using an income and/or market approach which is compared to the carrying value of the reporting unit. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss would be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. The fair value under the income approach is calculated using the expected present value of future cash flows method. Significant assumptions used in the cash flow forecasts include future volumes, discount rates, and future capital requirements.
Amortization of intangibles with definite lives is calculated using the straight-line method, which is reflective of the benefit pattern in which the estimated economic benefit is expected to be received over the estimated useful life of the intangible asset. Intangibles subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the intangible may not be recoverable. If the sum of the expected undiscounted future cash flows related to the asset is less than the carrying amount of the asset, an impairment loss is recognized based on the fair value of the asset. Intangibles not subject to amortization are tested for impairment annually and when circumstances indicate that the fair value is less than the carrying amount of the intangible. If the fair value is less than the carrying value, an impairment is recorded for the difference.
Major Maintenance Activities
Costs for planned turnaround and other major maintenance activities are expensed in the period incurred. These types of costs include contractor repair services, materials and supplies, equipment rentals and our labor costs.
Environmental Costs
Environmental expenditures for additional equipment that mitigates or prevents future contamination or improves environmental safety or efficiency of the existing assets are capitalized. We recognize remediation costs and penalties when the responsibility to remediate is probable and the amount of associated costs can be reasonably estimated. The timing of remediation accruals coincides with the completion of a feasibility study or the commitment to a formal plan of action. Remediation liabilities are accrued based on estimates of known environmental exposure and are discounted when the estimated amounts are reasonably fixed and determinable. If recoveries of remediation costs from third parties are probable, a receivable is recorded and is discounted when the estimated amount is reasonably fixed and determinable.
Asset Retirement Obligations
The fair value of asset retirement obligations is recognized in the period in which the obligations are incurred if a reasonable estimate of fair value can be made. The majority of our recognized asset retirement liability relates to conditional asset retirement obligations for removal and disposal of fire-retardant material from certain refining facilities. The remaining recognized asset retirement liability relates to other refining assets, certain pipelines and processing facilities and other related pipeline assets. The fair values recorded for such obligations are based on the most probable current cost projections.
Asset retirement obligations have not been recognized for some assets because the fair value cannot be reasonably estimated since the settlement dates of the obligations are indeterminate. Such obligations will be recognized in the period when sufficient information becomes available to estimate a range of potential settlement dates. The asset retirement obligations principally include the hazardous material disposal and removal or dismantlement requirements associated with the closure of certain refining, terminal, pipeline and processing assets.
Our practice is to keep our assets in good operating condition through routine repair and maintenance of component parts in the ordinary course of business and by continuing to make improvements based on technological advances. As a result, we believe that generally these assets have no expected settlement date for purposes of estimating asset retirement obligations since the dates or ranges of dates upon which we would retire these assets cannot be reasonably estimated at this time.
Income Taxes
Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their tax bases. Deferred tax assets are recorded when it is more likely than not that they will be realized. The realization of deferred tax assets is assessed periodically based on several factors, primarily our expectation to generate sufficient future taxable income.
Share-Based Compensation Arrangements
The fair value of stock options granted to our employees is estimated on the date of grant using the Black-Scholes option pricing model. The model employs various assumptions based on management’s estimates at the time of grant, which impact the calculation of fair value and ultimately, the amount of expense that is recognized over the vesting period of the stock option award. Of the required assumptions, the expected life of the stock option award and the expected volatility of our stock price have the most significant impact on the fair value calculation. The average expected life is based on our historical employee exercise behavior. The assumption for expected volatility of our stock price reflects a weighting of 50 percent of our common stock implied volatility and 50 percent of our common stock historical volatility.
The fair value of restricted stock awards granted to our employees is determined based on the fair market value of our common stock on the date of grant. The fair value of performance awards granted to our employees is determined using a Monte Carlo valuation model, which is updated quarterly, with appropriate mark-to-market adjustments made.
Our share-based compensation expense is recognized based on management’s estimate of the awards that are expected to vest, using the straight-line attribution method for all service-based awards with a graded vesting feature. Awards expected to vest are estimated using the historical data of our own employees. If actual forfeiture results are different than expected, adjustments to recognized compensation expense may be required in future periods. Unearned share-based compensation is charged to equity when restricted stock awards are granted. Compensation expense is recognized over the requisite service period and is adjusted if conditions of the restricted stock award are not met. 
Business Combinations
We recognize and measure the assets acquired and liabilities assumed in a business combination based on their estimated fair values at the acquisition date. Any excess or deficiency of the purchase consideration when compared to the fair value of the net tangible assets acquired, if any, is recorded as goodwill or gain from a bargain purchase. For material acquisitions, management engages an independent valuation specialist to assist with the determination of fair value of the assets acquired, liabilities assumed, noncontrolling interest, if any, and goodwill, based on recognized business valuation methodologies. An income, market or cost valuation method may be utilized to estimate the fair value of the assets acquired, liabilities assumed, and noncontrolling interest, if any, in a business combination. The income valuation method represents the present value of future cash flows over the life of the asset using: (i) discrete financial forecasts, which rely on management’s estimates of revenue and operating expenses; (ii) long-term growth rates; and (iii) appropriate discount rates. The market valuation method uses prices paid for a reasonably similar asset by other purchasers in the market, with adjustments relating to any differences between the assets. The cost valuation method is based on the replacement cost of a comparable asset at prices at the time of the acquisition reduced for depreciation of the asset. If the initial accounting for the business combination is incomplete by the end of the reporting period in which the acquisition occurs, an estimate will be recorded. Subsequent to the acquisition date, and not later than one year from the acquisition date, we will record any material adjustments to the initial estimate based on new information obtained that would have existed as of the date of the acquisition. Any adjustment that arises from information obtained that did not exist as of the date of the acquisition will be recorded in the period of the adjustment. Acquisition-related costs are expensed as incurred in connection with each business combination.
Environmental Credits and Obligations
In order to comply with certain regulations, specifically the RFS requirements implemented by the EPA and the cap-and-trade emission reduction program and low carbon fuel standard implemented by state programs, we are required to reduce our emissions, blend certain levels of biofuels or obtain allowances or credits to offset the obligations created by our operations. In regard to each program, we record an asset, included in other current assets or other noncurrent assets on the consolidated balance sheets, for allowances or credits owned in excess of our anticipated current period compliance requirements. The asset value is based on the product of the excess allowances or credits as of the balance sheet date, if any, and the weighted average cost of those allowances or credits. We record a liability, included in other current liabilities or deferred credits and other liabilities
on the consolidated balance sheets, when we are deficient allowances or credits based on the product of the deficient amount as of the balance sheet date, if any, and either the fixed contract price or the market price of the allowances or credits at the balance sheet date. The cost of allowances or credits used for compliance is reflected in cost of revenues on the consolidated statements of income. Any gains or losses on the sale or expiration of allowances or credits are classified as other income on the consolidated statements of income. Proceeds from the sale of allowances or credits are reported in investing activities - all other, net on the consolidated statements of cash flows.
v3.25.4
Accounting Standards
 12 Months Ended
Dec. 31, 2025
Accounting Standards Update and Change in Accounting Principle [Abstract]  
Accounting Standards Accounting Standards
Recently Adopted
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures
In December 2023, the FASB issued this ASU to update income tax disclosure requirements to provide consistent categories and greater disaggregation of information in the rate reconciliation and to disaggregate income taxes paid by jurisdiction. This ASU is effective for fiscal years beginning after December 15, 2024. We adopted this ASU in 2025 and applied the amendments on a retrospective basis. The enhanced income tax disclosures are presented in Note 12 - Income Taxes and Note 21 - Supplemental Cash Flow Information.
Not Yet Adopted
ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40)
In September 2025, the FASB issued ASU 2025-06 to modernize the accounting for software costs that are accounted for under ASC 350-40 by removing all references to prescriptive and sequential software development stages and requiring entities to begin capitalizing software costs when both management has authorized and committed to the funding of the software project, and it is probable that the project will be completed and the software will be used to perform its intended function. The ASU also provides enhanced guidance on evaluating whether the probable-to-complete recognition threshold has been met. This ASU is effective for fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments in this ASU may be applied either (1) prospectively to all projects started in reporting periods after adoption, including in-process projects, (2) on a modified transition basis that is based on the status of the project and whether software costs were capitalized before the date of adoption, or (3) retrospectively to all prior periods presented in the financial statements. We will adopt this ASU on a prospective basis and do not expect material impacts to our capitalized software cost.
ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
In November 2024, the FASB issued an ASU to require more detailed information about specified categories of expenses (purchases of inventory, employee compensation, depreciation, amortization, and depletion) included in certain expense captions presented on the face of the income statement. This ASU is effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments in this ASU may be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this ASU or (2) retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact this ASU will have on our disclosures.
v3.25.4
Master Limited Partnership
 12 Months Ended
Dec. 31, 2025
Noncontrolling Interest [Abstract]  
Master Limited Partnerships Master Limited Partnership    
We own the general partner and a majority limited partner interest in MPLX, which owns and operates crude oil and light product transportation and logistics infrastructure as well as gathering, processing and fractionation assets. We control MPLX through our ownership of the general partner interest and, as of December 31, 2025, we owned approximately 64 percent of the outstanding MPLX common units.
Unit Repurchase Program
On August 5, 2025, MPLX announced its board of directors approved a $1.0 billion unit repurchase authorization in addition to the $1.0 billion unit repurchase authorization announced on August 2, 2022. These unit repurchase authorizations have no expiration date. MPLX may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, accelerated unit repurchases, tender offers or open market solicitations for units, 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 unit repurchases were as follows for the respective periods:
(In millions, except per unit data)202520242023
Number of common units repurchased8 8 — 
Cash paid for common units repurchased$400 $326 $— 
Average cost per unit$51.58 $43.04 $— 
As of December 31, 2025, MPLX had approximately $1.12 billion remaining under its unit repurchase authorizations.
Series A Preferred Units
The Series A preferred units are considered redeemable securities under GAAP due to the existence of redemption provisions upon a deemed liquidation event, which is outside MPLX’s control. Therefore, they are presented as temporary equity in the mezzanine section of our consolidated balance sheets.
During the years ended December 31, 2024 and December 31, 2023, certain Series A preferred unitholders exercised their rights to convert their Series A preferred units into 21 million common units and 2 million common units, respectively. Approximately 6 million Series A preferred units were outstanding as of December 31, 2024. On February 11, 2025, MPLX exercised its right to convert the remaining outstanding Series A preferred units into common units.
For a summary of changes in the redeemable preferred balance, see the accompanying consolidated statements of equity and redeemable noncontrollable interest.
Redemption of the Series B Preferred Units
On February 15, 2023, MPLX exercised its right to redeem all of its 600,000 outstanding preferred units (the “Series B preferred units”). MPLX paid unitholders the Series B preferred unit redemption price of $1,000 per unit. The final semi-annual distribution on the Series B preferred units was paid on February 15, 2023 in the usual manner.
The excess of the total redemption price of $600 million paid to Series B preferred unitholders over the carrying value of the Series B preferred units on the redemption date resulted in a $2 million net reduction to retained earnings.
Agreements
We have various long-term, fee-based commercial agreements with MPLX. Under these agreements, MPLX provides transportation, storage, distribution and marketing services to us. With certain exceptions, these agreements generally contain minimum volume commitments. These transactions are eliminated in consolidation but are reflected as intersegment transactions among our Refining & Marketing, Renewable Diesel and Midstream segments. We also have agreements with MPLX that establish fees for operational and management services provided between us and MPLX and for executive management services and certain general and administrative services provided by us to MPLX. These transactions are eliminated in consolidation but are reflected as intersegment transactions between corporate and our Midstream segment.
Noncontrolling Interest
As a result of equity transactions of MPLX, we are required to adjust non-controlling interest and additional paid-in capital. Changes in MPC’s additional paid-in capital resulting from changes in its ownership interest in MPLX were as follows:
(Millions of dollars)202520242023
Increase (decrease) due to change in ownership$(88)$159 $(4)
Tax impact74 (55)— 
Increase (decrease) in MPC's additional paid-in capital, net of tax$(14)$104 $(4)
v3.25.4
Acquisitions and Other Transactions
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions and Other Transactions Acquisitions and Other Transactions
Northwind Midstream Acquisition
On August 29, 2025, MPLX completed the acquisition of 100 percent of Northwind Delaware Holdings LLC ( “Northwind Midstream”) for $2.4 billion in cash (the “Northwind Midstream Acquisition”). Northwind Midstream provides sour gas gathering and treating services in Lea County, New Mexico, which enhances MPLX’s Permian natural gas and NGL value chain. The Northwind Midstream Acquisition was financed with a portion of the net proceeds from MPLX's $4.5 billion senior notes issuance in August 2025.
Northwind Midstream consists of over 200,000 dedicated acres, more than 200 miles of gathering pipelines, two in-service acid gas injection wells at 20 MMcf/d and a third permitted well that will bring its total capacity to 37 MMcf/d. At the time of acquisition, the system had 150 MMcf/d of sour gas treating capacity, with in-process expansion projects expected to increase capacity to
over 400 MMcf/d by the second half of 2026. The system is partially supported by minimum volume commitments by regional producers.
The Northwind Midstream Acquisition was accounted for as a business combination requiring all Northwind Midstream assets and liabilities to be remeasured to fair value. The fair value of property, plant and equipment was based primarily on the cost approach. The fair value of the identifiable intangible assets was primarily based on the multi-period excess earnings method, which is an income approach. The intangible assets acquired are related to various commercial contracts with a weighted average amortization period of 15 years. The following table reflects our preliminary allocation of the $2.4 billion purchase price to the Northwind Midstream assets and liabilities, as well as measurement period adjustments since the acquisition date:
As originally reportedAdjustmentsAs adjusted
(In millions)
Cash and cash equivalents$17 $— $17 
Receivables11 — 11 
Other current assets1 — 1 
Property, plant and equipment1,182 (13)1,169 
Intangibles951 — 951 
Other noncurrent assets2 — 2 
Total assets acquired2,164 (13)2,151 
Liabilities assumed:
Accounts payable105 10 115 
Other current liabilities1 — 1 
Long-term operating lease liabilities1 — 1 
Total liabilities assumed107 10 117 
Total identifiable net assets2,057 (23)2,034 
Goodwill356 23 379 
Fair value of net assets acquired$2,413 $— $2,413 
The allocation is subject to revision, as certain data necessary to complete the purchase price allocation is not yet available, including, but not limited to, the final valuation of property, plant and equipment and intangible assets acquired, which may impact the amount of goodwill recognized. The final valuation will be completed no later than one year from the acquisition date. The results for the acquired business are reported within our Midstream segment.
The purchase price allocation resulted in the recognition of $379 million in goodwill by our Midstream segment, all of which is deductible by MPLX for tax purposes. Goodwill represents the accelerated growth opportunities in the Permian using Northwind Midstream’s asset base, which is complementary and adjacent to MPLX’s existing Delaware basin natural gas system and offers optionality to direct volumes through our integrated system.
Pro forma financial information assuming the Northwind Midstream Acquisition had occurred as of the beginning of the calendar year prior to the year of the acquisition, as well as the revenues and earnings generated during the period since the acquisition date, were not material for disclosure purposes.
Divestiture of Rockies Operations
On November 12, 2025, MPLX completed the sale of its Rockies gathering and processing operations (the “Rockies”) to a subsidiary of Harvest Midstream (“Harvest”) for $980 million in cash. The transaction resulted in a gain of $159 million, which is included in net gain on disposal of assets on the accompanying consolidated statements of income. The sale of these non-core gathering and processing assets did not represent a strategic shift that has or will have a material effect on our operations or financial results. Prior to the sale, the Rockies operations were included in our Midstream segment.
Sale of Interest in Ethanol Joint Venture
On July 31, 2025, MPC sold its 49.9 percent interest in The Andersons Marathon Holdings LLC (“TAMH”) to The Andersons Ethanol LLC, in exchange for cash proceeds of $427 million. MPC’s equity method investment in TAMH was previously reported in the Refining & Marketing segment. Upon closing, MPC derecognized the carrying value of the equity method investment of $173 million and recorded a gain of $254 million, which is included in income from equity method investments on the accompanying consolidated statements of income.
BANGL, LLC Acquisitions
BANGL, LLC (“BANGL”) owns and operates a NGL pipeline system that connects production in the Delaware and Midland basins to key demand centers along the Gulf Coast. On July 31, 2024, MPLX exercised its right of first offer under the BANGL joint venture agreement to purchase an additional 20 percent ownership interest in BANGL for $210 million in cash, which increased total ownership interest to 45 percent (the “2024 BANGL Transaction”). The purchase price of the additional 20 percent ownership interest in BANGL exceeded MPLX’s portion of the underlying net assets of the joint venture by approximately $156 million. Following the 2024 BANGL Transaction, MPLX’s investment in BANGL continued to be accounted for as an equity method investment.
On July 1, 2025, MPLX purchased the remaining 55 percent interest in BANGL for $703 million cash, plus an earnout provision of up to $275 million based on targeted EBITDA growth from 2026 to 2029 (the “BANGL Acquisition”). We recorded a liability for these contingent payments in the third quarter of 2025. See Note 17 for additional detail on the inputs used to measure the fair value of these contingent payments. On July 3, 2025, MPLX used cash on hand to extinguish approximately $656 million principal amount of debt outstanding, including interest, related to certain term and revolving loans assumed as part of the BANGL Acquisition (the “BANGL Debt Repayment”).
Upon acquisition of the remaining 55 percent interest in BANGL, MPLX’s existing equity investment was remeasured to fair value resulting in the recognition of a $484 million gain, which is included in income from equity method investments within the accompanying consolidated statements of income. The fair value of the previously held equity method investment was estimated using an income approach, with significant valuation inputs including forecasted cash flows and discount rates ranging from 11 to 12 percent. As a result of the BANGL Acquisition, MPLX now owns 100 percent of BANGL and its results are reflected in our Midstream segment within our consolidated financial results.
The following table summarizes the purchase price consideration in connection with the BANGL Acquisition:
(In millions)
Total cash paid$703 
Fair value of contingent consideration as of acquisition date234 
Total consideration937 
Fair value of previously held equity interest766 
Fair value of net assets acquired$1,703 
The BANGL Acquisition was accounted for as a business combination requiring all BANGL assets and liabilities to be remeasured to fair value. The fair value of property, plant and equipment was determined using a combination of both the cost and income approach. The fair value of the identifiable intangible assets was primarily based on the multi-period excess earnings method, which is an income approach. The intangible asset acquired is related to a customer relationship with an amortization period of 11 years. The following table reflects our preliminary determination of the fair value of the BANGL assets and liabilities:
(In millions)July 1,
2025
Assets acquired:
Cash and cash equivalents$18 
Other current assets4 
Property, plant and equipment1,550 
Intangibles77 
Other noncurrent assets22 
Total assets acquired1,671 
Liabilities assumed:
Long-term debt due within one year46 
Other current liabilities42 
Long-term debt610 
Other long-term liabilities1 
Total liabilities assumed699 
Total identifiable net assets972 
Goodwill731 
Fair value of net assets acquired$1,703 
The allocation is subject to revision, as certain data necessary to complete the purchase price allocation is not yet available, including, but not limited to, the final valuation of property, plant and equipment and intangible assets acquired, which may impact the amount of goodwill recognized. The final valuation will be completed no later than one year from the acquisition date.
The purchase price allocation resulted in the recognition of $731 million in goodwill by our Midstream segment, 55 percent of which is deductible by MPLX for tax purposes. Goodwill represents the advancement of MPLX’s wellhead-to-water strategy by securing full ownership of a strategically located NGL transport asset which further integrates MPLX’s midstream infrastructure connecting the Permian and Gulf Coast regions.
Pro forma financial information assuming the BANGL Acquisition had occurred as of the beginning of the calendar year prior to the year of the acquisition, as well as the revenues and earnings generated during the period since the acquisition date, were not material for disclosure purposes.
Whiptail Midstream Acquisition
On March 11, 2025, MPLX acquired gathering businesses from Whiptail Midstream, LLC for $235 million in cash. These San Juan basin assets consist primarily of crude and natural gas gathering systems in the Four Corners region. The acquisition was accounted for as a business combination, which requires all the identifiable assets acquired and liabilities assumed to be remeasured to fair value at the date of acquisition. The final valuation includes $170 million of property, plant and equipment, $41 million of intangibles and $24 million of net working capital. The results for the acquired business are reported within our Midstream segment.
Jones Act Blue Water Vessels Acquisition
Marathon Coastal Holdings LLC (formerly known as Crowley Coastal Partners LLC, “Coastal Holdings”) was formed in May 2016 as a joint venture to own, through its subsidiaries, four Jones Act mid-range product tankers and three Jones Act series 750 ATB vessels. Prior to October 1, 2024, MPC accounted for our 50 percent ownership in Coastal Holdings as an equity method investment.
On October 1, 2024, MPC paid approximately $66 million in cash to purchase the remaining 50 percent interest in Coastal Holdings and its subsidiary, Marathon Blue Water Holdings LLC (formerly known as Crowley Blue Water Partners, LLC, “Blue Water Holdings”), which owns the three ATB vessels, from our joint venture partner. As part of the transaction, MPC assumed Blue Water Holdings’ United States Maritime Administration guaranteed obligations (the “MARAD Debt”) with an aggregate outstanding principal amount and accrued interest value of $175 million as of October 1, 2024. See Note 19 for additional information. Subsequent to the acquisition date, Coastal Holdings is wholly owned by MPC and is included in our consolidated results.
The excess of the $66 million fair value over the $50 million book value of our 50 percent indirect interest in Coastal Holdings resulted in a $16 million gain, which is included in income from equity method investments on the accompanying consolidated statements of income.
Whistler Joint Venture Transaction
On May 29, 2024, MPLX and its joint venture partner contributed their respective membership interests in Whistler Pipeline, LLC to a newly formed joint venture, WPC Parent, LLC, and issued a 19 percent voting interest in WPC Parent, LLC to an affiliate of Enbridge Inc. in exchange for the contribution of cash and the Rio Bravo Pipeline project (collectively the “Whistler Joint Venture Transaction”). As a result of the transaction, MPLX’s voting interest in the joint venture was reduced from 37.5 percent to 30.4 percent. MPLX recognized a gain of $151 million at closing and received a cash distribution of $134 million, recorded as a return of capital, related to the dilution of the ownership interest. The gain is included in income from equity method investments on the accompanying consolidated statements of income and the return of capital is included in investments - redemptions, repayments, return of capital and sales proceeds within the investing section of the accompanying consolidated statements of cash flows.
Utica Midstream Acquisition
On March 22, 2024, MPLX used $625 million of cash to purchase additional ownership interests in existing joint ventures and gathering assets, which will enhance MPLX’s position in the Utica basin. Prior to the acquisition, MPLX owned an indirect interest in Ohio Gathering Company, L.L.C. (“OGC”) and a direct interest in Ohio Condensate Company, L.L.C. (“OCC”). After giving effect to the acquisition, MPLX owns a combined direct and indirect 73 percent interest in OGC and a 100 percent interest in OCC. In addition, MPLX acquired a 100 percent interest in a dry gas gathering system in the Utica basin. OGC continues to be accounted for as an equity method investment as MPLX did not obtain control of OGC as a result of the transaction. OGC is considered a VIE and MPLX is not deemed to be the primary beneficiary due to voting rights on significant matters. The acquisition date fair value of our investment in OGC exceeded our portion of the underlying net assets of the joint venture by approximately $75 million. This basis difference is being amortized into net income over the remaining estimated useful lives of the underlying net assets. OCC was previously accounted for as an equity method investment, and it is now consolidated and included in our consolidated financial results.
The acquisition was accounted for as a business combination requiring all the acquired assets and liabilities to be remeasured to fair value resulting in a consolidated fair value of net assets and liabilities of $625 million. The fair value includes $507 million related to acquired interests in the joint ventures and the remaining balance related to other acquired assets and liabilities. The revaluation of MPLX’s existing 62 percent equity method investment in OCC resulted in a $20 million gain, which is included in net gain on disposal of assets on the accompanying consolidated statements of income. The fair value of equity method investments was based on a discounted cash flow model.
MarkWest Torñado GP, L.L.C. Acquisition
On December 15, 2023, MPLX used $303 million of cash on hand to purchase the remaining 40 percent interest in MarkWest Torñado GP, L.L.C. (“Torñado”) for approximately $270 million, including cash paid for working capital, and to extend the term of a gathering and processing agreement for approximately $33 million. As a result of this transaction, this entity is now consolidated and included in our consolidated financial results. It was previously accounted for as an equity method investment. Torñado provides natural gas gathering and processing related services in the Permian basin. The results for this business are reported within our Midstream segment.
At December 15, 2023, the carrying value of MPLX’s 60 percent equity investment in Torñado was $311 million. Upon acquisition of the remaining 40 percent member interest, the existing equity investment was remeasured to fair value resulting in the recognition of a $92 million gain, which was presented in the net gain on disposal of assets line on the accompanying consolidated statements of income. The fair value of the previously held equity method investment was primarily based on the price negotiated for the 40 percent interest in Torñado.
The acquisition was accounted for as a business combination. While the purchase price for the 40 percent interest was $270 million, all of the Torñado assets and liabilities were remeasured to fair value resulting in a consolidated fair value of net assets and liabilities of $673 million, consisting primarily of property, plant and equipment and identifiable intangible assets. The fair value of property, plant and equipment was based primarily on the cost approach. The fair value of the identifiable intangible assets, consisting of various customer contracts, was primarily based on the multi-period excess earnings method, which is an income approach.
South Texas Gateway Terminal LLC Sale
On August 1, 2023, MPC sold its 25 percent interest in South Texas Gateway Terminal LLC (“South Texas Gateway”) to an affiliate of Gibson Energy Inc. (“Gibson Energy”). Gibson Energy paid $1.1 billion in cash to acquire 100 percent of the membership interests of South Texas Gateway from MPC and its other members. South Texas Gateway owns an oil export facility in the U.S. Gulf Coast. MPC’s proceeds were $270 million, resulting in a gain of $106 million, which is included in net gain on disposal of assets on the accompanying consolidated statements of income.
LF Bioenergy Acquisition
On March 8, 2023, MPC announced the acquisition of a 49.9 percent interest in LF Bioenergy, an emerging producer of renewable natural gas (“RNG”) in the U.S., for approximately $56 million, which included funding for on-going operations and project development. LF Bioenergy has been focused on developing and growing a portfolio of dairy farm-based, low carbon intensity RNG projects. MPC accounts for our ownership interest in LF Bioenergy as an equity method investment.
v3.25.4
Variable Interest Entities
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Variable Interest Entities Variable Interest Entities
Consolidated VIE
We control MPLX through our ownership of its general partner. MPLX is a VIE because the limited partners do not have substantive kick-out or participating rights over the general partner. We are the primary beneficiary of MPLX because in addition to our significant economic interest, we also have the ability, through our ownership of the general partner, to control the decisions that most significantly impact MPLX. We therefore consolidate MPLX and record a noncontrolling interest for the interest owned by the public.
The creditors of MPLX do not have recourse to MPC’s general credit or assets through guarantees or other financial arrangements, except as otherwise noted. MPC has effectively guaranteed certain indebtedness of LOOP LLC (“LOOP”) and LOCAP LLC (“LOCAP”), in which MPLX holds an interest. See Note 27 for more information. The assets of MPLX can only be used to settle its own obligations and any rights of MPC’s creditors to participate in the assets of MPLX are subject to prior claims of MPLX’s creditors.
The following table presents balance sheet information for the assets and liabilities of MPLX, which are included in our consolidated balance sheets.
(Millions of dollars)December 31,
2025		December 31,
2024
Assets
Cash and cash equivalents$2,137 $1,519 
Receivables, less allowance for expected credit loss746 731 
Inventories172 180 
Other current assets51 29 
Equity method investments4,798 4,531 
Property, plant and equipment, net21,698 19,154 
Goodwill8,755 7,645 
Intangibles, net1,397 518 
Right of use assets, net276 273 
Other noncurrent assets1,126 995 
Liabilities
Accounts payable$865 $719 
Accrued taxes93 82 
Debt due within one year1,502 1,693 
Operating lease liabilities53 45 
Other current liabilities403 370 
Long-term debt24,151 19,255 
Deferred income taxes25 18 
Long-term operating lease liabilities217 217 
Deferred credits and other liabilities474 445 
Non-Consolidated VIEs
Martinez Renewables LLC
On September 21, 2022, MPC closed on the formation of the Martinez Renewables LLC joint venture. We determined that Martinez Renewables LLC is a VIE because the entity does not have sufficient equity to operate without additional financial support from its owners. We are not the primary beneficiary of this VIE because we do not have the ability to control the activities that significantly influence the economic outcomes of the entity and, therefore, do not consolidate the entity.
MPLX VIEs
For those entities that have been deemed to be VIEs, neither MPLX nor any of its subsidiaries have been deemed to be the primary beneficiary due to voting rights on significant matters. While we have the ability to exercise influence through participation in the management committees which make all significant decisions, we have equal influence over each committee as a joint interest partner and all significant decisions require the consent of the other investors without regard to economic interest and as such we have determined that these entities should not be consolidated and apply the equity method of accounting with respect to our investments in each entity.
Sherwood Midstream LLC (“Sherwood Midstream”) has been deemed the primary beneficiary of Sherwood Midstream Holdings LLC (“Sherwood Midstream Holdings”) due to its controlling financial interest through its authority to manage the joint venture. As a result, Sherwood Midstream consolidates Sherwood Midstream Holdings.
MPLX’s maximum exposure to loss as a result of its involvement with equity method investments includes its equity investment, any additional capital contribution commitments and any operating expenses incurred by the subsidiary operator in excess of its compensation received for the performance of the operating services.
We account for our ownership interest in each of these investments as an equity method investment. See Note 14 for ownership percentages and investment balances
v3.25.4
Related Party Transactions
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Transactions with related parties were as follows:
(Millions of dollars)202520242023
Sales to related parties$1,572 $1,053 $915 
Purchases from related parties2,891 2,437 1,818 
Sales to related parties, which are included in sales and other operating revenues, consist primarily of refined product sales and renewable feedstock sales to certain of our equity affiliates.
Purchases from related parties are included in cost of revenues. We obtain utilities, transportation services and purchase renewable diesel from certain of our equity affiliates.
We also purchased ethanol from TAMH, an equity affiliate. On July 31, 2025, MPC sold its interest in TAMH. TAMH ceased to be a related party after the sale. See Note 5.
v3.25.4
Earnings per Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings per Share Earnings Per Share
We compute basic earnings per share by dividing net income attributable to MPC less income allocated to participating securities by the weighted average number of shares of common stock outstanding. Since MPC has granted certain incentive compensation awards to employees and non-employee directors that are considered to be participating securities, we have calculated our earnings per share using the two-class method. Diluted income per share assumes exercise of certain share-based compensation awards, provided the effect is not anti-dilutive.
(In millions, except per share data)202520242023
Basic earnings per share:
Allocation of earnings
Net income attributable to MPC$4,047 $3,445 $9,681 
Income allocated to participating securities(4)(3)(7)
Redemption of preferred units— — (2)
Income available to common stockholders - basic$4,043 $3,442 $9,672 
Weighted average common shares outstanding305 340 407 
Basic earnings per share$13.24 $10.11 $23.73 
Diluted earnings per share:
Allocation of earnings
Net income attributable to MPC$4,047 $3,445 $9,681 
Income allocated to participating securities(4)(3)(7)
Redemption of preferred units— — (2)
Income available to common stockholders - diluted4,043 3,442 9,672 
Weighted average common shares outstanding305 340 407 
Effect of dilutive securities1 1 2 
Weighted average common shares, including dilutive effect306 341 409 
Diluted earnings per share$13.22 $10.08 $23.63 
Potential common shares which were anti-dilutive and, therefore, omitted from the diluted share calculation, were immaterial for all periods.
v3.25.4
Equity
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Equity
On November 5, 2024, MPC announced that our board of directors approved a $5.0 billion share repurchase authorization. Share repurchase authorizations since 2012 totaled $60.05 billion. As of December 31, 2025, $4.38 billion remained available for repurchase under the share repurchase authorization. The share repurchase authorization has no expiration date.
We may utilize various methods to effect the repurchases, which could include open market repurchases, negotiated block transactions, tender offers, accelerated share repurchases 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:
(In millions, except per share data)202520242023
Number of shares repurchased21 53 89 
Cash paid for shares repurchased(a)
$3,399 $9,077 $11,572 
Average cost per share(b)
$163.64 $171.68 $131.27 
(a)    2025 excludes $89 million paid in 2025 for excise tax on 2024 share repurchases. 2024 excludes $112 million paid in 2024 for excise tax on 2023 share purchases.
(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.
v3.25.4
Segment Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
We have three reportable segments: Refining & Marketing, Midstream and Renewable Diesel. Each of these segments is organized and managed based upon the nature of the products and services it offers.
•Refining & Marketing – refines crude oil and other feedstocks at our refineries in the Gulf Coast, Mid-Continent and West Coast regions of the United States, purchases refined products and ethanol for resale and distributes refined products through transportation, storage, distribution and marketing services provided largely by our Midstream segment. We sell refined products to wholesale marketing customers domestically and internationally, to buyers on the spot market, to independent entrepreneurs who operate primarily Marathon® branded outlets and through long-term supply contracts with direct dealers who operate locations mainly under the ARCO® brand.
•Midstream – gathers, transports, stores and distributes crude oil, refined products, including renewable diesel, and other hydrocarbon-based products principally for the Refining & Marketing segment via refining logistics assets, pipelines, terminals, towboats and barges; gathers, treats, processes and transports natural gas; and transports, fractionates, stores and markets NGLs. The Midstream segment primarily reflects the results of MPLX.
•Renewable Diesel - processes renewable feedstocks into renewable diesel, markets renewable diesel and distributes renewable products through our Midstream segment and third parties. We sell renewable diesel to wholesale marketing customers, to buyers on the spot market and through long-term supply contracts with direct dealers who operate locations mainly under the ARCO® brand.
Our chief operating decision maker (“CODM”) evaluates the performance of our segments using segment adjusted EBITDA. Our CODM is our chief executive officer. The CODM uses adjusted EBITDA by segment results and considers forecast-to-actual variances on a periodic basis when making decisions about allocating capital and personnel as part of the annual business plan process and ongoing monitoring of performance. Amounts included in income before income taxes and excluded from adjusted EBITDA include: (i) depreciation and amortization; (ii) net interest and other financial costs; (iii) turnaround expenses; and (iv) other adjustments as deemed necessary. These items are either: (i) believed to be non-recurring in nature; (ii) not believed to be allocable or controlled by the segment; or (iii) not tied to the operational performance of the segment. Assets by segment are not a measure used to assess the performance of the company by the CODM and thus are not reported in our disclosures.
(Millions of dollars)202520242023
Segment adjusted EBITDA for reportable segments
Refining & Marketing6,138 $5,703 $13,705 
Midstream6,750 6,544 6,171 
Renewable Diesel(110)(150)(64)
Total reportable segments$12,778 $12,097 $19,812 
Reconciliation of segment adjusted EBITDA for reportable segments to income before income taxes
Total reportable segments$12,778 $12,097 $19,812 
Corporate(822)(774)(737)
Refining & Renewable Diesel planned turnaround costs(1,553)(1,404)(1,201)
Renewable Diesel JV planned turnaround costs(a)
(18)(9)(25)
Garyville incident response costs— — (16)
LIFO inventory adjustment72 161 (145)
Gain on sale of assets(b)
897 151 198 
SRE57 — — 
Transaction-related costs(c)
(33)— — 
Legal settlements253 — — 
Depreciation and amortization(3,251)(3,337)(3,307)
Renewable Diesel JV depreciation and amortization(a)
(89)(89)(65)
Net interest and other financial costs(1,276)(839)(525)
Income before income taxes$7,015 $5,957 $13,989 
(a)    Represents MPC’s pro-rata share of expenses from joint ventures included within the Renewable Diesel segment.
(b)    2025 includes gains from the BANGL Acquisition, the sale of MPC’s interest in TAMH and the Rockies divestiture. 2024 includes the gain from the Whistler Joint Venture Transaction. 2023 includes the gain associated with the remeasurement of MPLX’s existing equity investment in MarkWest Torñado GP, L.L.C., arising from the acquisition of the remaining 40 percent interest and the gain on the sale of our interest in South Texas Gateway Terminal LLC. See Note 5 for additional information.
(c)    Transaction-related costs include costs associated with the Northwind Midstream Acquisition, the BANGL Acquisition and the Rockies divestiture discussed in Note 5.
(Millions of dollars)202520242023
Sales and other operating revenues
Refining & Marketing
Revenues from external customers(a)
$124,252 $131,588 $141,835 
Intersegment revenues60 175 139 
Refining & Marketing segment revenues124,312 131,763 141,974 
Midstream
Revenues from external customers(a)
5,628 5,197 4,911 
Intersegment revenues5,906 5,797 5,597 
Midstream segment revenues11,534 10,994 10,508 
Renewable Diesel
Revenues from external customers(a)
2,814 2,079 1,633 
Intersegment revenues16 25 31 
Renewable Diesel segment revenues2,830 2,104 1,664 
Total segment revenues138,676 144,861 154,146 
Plus: other revenue5 — — 
Less: intersegment revenues5,982 5,997 5,767 
Consolidated sales and other operating revenues(a)
$132,699 $138,864 $148,379 
(a)    Includes sales to related parties. See Note 7 for additional information. See Note 20 for the disaggregation of our revenue from external customers by segment and product line.
(Millions of dollars)202520242023
Income from equity method investments
Refining & Marketing$9 $57 $66 
Midstream793 770 735 
Renewable Diesel82 70 (59)
Total segment income from equity method investments884 897 742 
Corporate(a)
738 151 — 
Consolidated income from equity method investments$1,622 $1,048 $742 
(a)    2025 includes gains from the BANGL Acquisition and the sale of MPC’s interest in TAMH. 2024 represents the gain from the Whistler Joint Venture Transaction. See Note 5 for additional information.
(Millions of dollars)202520242023
Segment expenses
Refining & Marketing
Cost of purchases$104,308 $112,938 $115,973 
Refining operating costs6,097 5,712 5,625 
Distribution costs6,185 5,857 5,645 
Other segment items(a)
1,593 1,610 1,092 
Refining & Marketing segment expenses$118,183 $126,117 $128,335 
Midstream
Other segment items(b)
5,577 5,220 5,072 
Midstream segment expenses$5,577 $5,220 $5,072 
Renewable Diesel
Operating costs274 269 242 
Distribution costs101 95 82 
Other segment items(c)
2,647 1,960 1,345 
Renewable Diesel segment expenses$3,022 $2,324 $1,669 
(a)    Other segment items for the Refining & Marketing segment include costs that are reimbursed by customers through commercial arrangements, as well as LIFO inventory adjustments.
(b)    Other segment items for the Midstream segment include operating expenses and purchased product costs. For purposes of managing Midstream segment of MPC, the CODM is only provided consolidated Midstream expense information.
(c)    Other segment items for the Renewable Diesel segment include purchased product costs.

(Millions of dollars)202520242023
Depreciation and amortization
Refining & Marketing$1,627 $1,767 $1,822 
Midstream1,450 1,405 1,320 
Renewable Diesel(a)
69 75 65 
Total segment depreciation and amortization3,146 3,247 3,207 
Corporate105 90 100 
Consolidated depreciation and amortization$3,251 $3,337 $3,307 
(a)    Excludes our pro-rata share of Renewable Diesel JV depreciation and amortization of $89 million, $89 million and $65 million in 2025, 2024 and 2023, respectively, which was adjusted for purposes of arriving at Renewable Diesel segment adjusted EBITDA.
(Millions of dollars)202520242023
Capital expenditures
Refining & Marketing$1,580 $1,445 $998 
Midstream2,975 1,504 1,105 
Renewable Diesel19 8 313 
Total segment capital expenditures and investments4,574 2,957 2,416 
Less investments in equity method investees1,064 509 480 
Plus:
Corporate25 63 83 
Capitalized interest94 56 55 
Consolidated capital expenditures(a)
$3,629 $2,567 $2,074 
(a)    Includes changes in capital expenditure accruals. See Note 21 for a reconciliation of total capital expenditures to additions to property, plant and equipment as reported in the consolidated statements of cash flows.
No single customer accounted for 10 percent or more of annual revenues for the years ended December 31, 2025, December 31, 2024 or December 31, 2023. See Note 20 for the disaggregation of our revenue by segment and product line.
We do not have significant operations in foreign countries. Therefore, revenues in foreign countries and long-lived assets located in foreign countries, including property, plant and equipment and investments, are not material to our operations.
v3.25.4
Net Interest and Other Financial Costs
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Net Interest and Other Financial Costs Net Interest and Other Financial Costs
Net interest and other financial costs were as follows:
(Millions of dollars)202520242023
Interest income$(159)$(376)$(530)
Interest expense1,489 1,365 1,325 
Interest capitalized(100)(57)(60)
Pension and other postretirement non-service costs(a)
23 (38)(89)
Investments - net premium (discount) amortization— (91)(142)
Other financial costs23 36 21 
Net interest and other financial costs$1,276 $839 $525 
(a)    See Note 24.
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
(Millions of dollars)202520242023
Income (loss) from operations before income taxes:
Domestic$6,958 $5,964 $13,875 
Foreign57 (7)114 
Total$7,015 $5,957 $13,989 
Provision (benefit) for income taxes:
Current:
Federal$706 $862 $2,359 
State and local129 144 475 
Foreign20 8 11 
Total current855 1,014 2,845 
Deferred:
Federal255 (90)18 
State and local25 (33)(46)
Foreign2 (1)— 
Total deferred282 (124)(28)
Total$1,137 $890 $2,817 
A reconciliation of the federal statutory income tax rate to the effective tax rate applied to income from before income taxes follows:
202520242023
(Millions of dollars)Amount%Amount%Amount%
Federal statutory rate $1,473 21.0 %$1,251 21.0 %$2,937 21.0 %
State and local income taxes, net of federal income tax effects(a)
128 1.8 91 1.5 338 2.4 
Nontaxable or nondeductible items:
Noncontrolling interests(385)(5.5)(341)(5.7)(314)(2.2)
Other24 0.3 (44)(0.8)(30)(0.3)
Tax credits(84)(1.2)(42)(0.7)— — 
Other adjustments(19)(0.2)(25)(0.4)(114)(0.8)
Effective tax rate applied to income before income taxes$1,137 16.2 %$890 14.9 %$2,817 20.1 %
(a)    State taxes in California, Texas and Kentucky make up the majority of the tax effect of this category.
Deferred tax assets and liabilities resulted from the following:
December 31,
(Millions of dollars)20252024
Deferred tax assets:
Employee benefits$560 $558 
Environmental remediation80 81 
Finance lease obligations409 433 
Operating lease liabilities314 243 
Net operating loss carryforwards32 39 
Tax credit carryforwards20 22 
Goodwill and other intangibles84 75 
Other115 95 
Total deferred tax assets1,614 1,546 
Valuation allowance(9)(51)
Total net deferred tax assets1,605 1,495 
Deferred tax liabilities:
Property, plant and equipment2,441 2,584 
Inventories845 672 
Investments in subsidiaries and affiliates3,957 3,742 
Right of use assets324 246 
Other19 20 
Total deferred tax liabilities7,586 7,264 
Net deferred tax liabilities$5,981 $5,769 
Net deferred tax liabilities were classified in the consolidated balance sheets as follows:
December 31,
(Millions of dollars)20252024
Assets:
Other noncurrent assets$3 $2 
Liabilities:
Deferred income taxes5,984 5,771 
Net deferred tax liabilities$5,981 $5,769 
At December 31, 2025 and 2024, federal operating loss carryforwards were $2 million and $3 million, respectively, which includes a mix of indefinite carryforward ability and expiration periods ranging from 2032 through 2034. As of December 31, 2025 and 2024, state and local operating loss and tax credit carryforwards were $38 million and $42 million, respectively, which includes a mix of indefinite carryforward ability and expiration periods ranging from 2029 through 2045. At December 31, 2025 and 2024, foreign operating loss carryforwards were $12 million and $16 million, respectively, which includes expiration periods ranging from 2031 through 2043.
As of December 31, 2025 and 2024, $9 million and $51 million of valuation allowances have been recorded related to income taxes, related to realizability of foreign tax operating losses, state tax net operating losses and credits, and related deferred tax assets.
MPC is continuously undergoing examination of its U.S. federal income tax returns by the Internal Revenue Service (“IRS”). Since 2012, we have continued to participate in the Compliance Assurance Process (“CAP”). CAP is a real-time audit of the U.S. federal income tax return that allows the IRS, working in conjunction with MPC, to determine tax return compliance with the U.S. federal tax law prior to filing the return. This program provides us with greater certainty about our tax liability for years under examination by the IRS. MPLX and its subsidiaries are undergoing examination of its U.S. federal income tax returns by the IRS for the tax years 2019 through 2022. We do not believe the eventual outcome of such audits will have a material impact on our financial statements as of December 31, 2025.
Further, we are routinely involved in U.S. state income tax audits. We believe all other audits will be resolved with the amounts provided for these liabilities. As of December 31, 2025, we have various state and local income tax returns subject to examination for years 2016 through 2023, depending on jurisdiction.
The following table summarizes the activity in unrecognized tax benefits:
(Millions of dollars)202520242023
January 1 balance$27 $38 $57 
Additions for tax positions of current year80 — — 
Additions for tax positions of prior years65 — 8 
Reductions for tax positions of prior years(7)(5)(6)
Settlements(2)(6)(20)
Statute of limitations— — (1)
December 31 balance$163 $27 $38 
If the unrecognized tax benefits as of December 31, 2025 were recognized, $82 million would affect our effective income tax rate.
Interest and penalties related to income taxes are recorded as part of the provision for income taxes.
v3.25.4
Inventories
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Inventories Inventories
December 31,
(Millions of dollars)20252024
Crude oil and other feedstocks$3,272 $3,185 
Refined products5,350 5,137 
Materials and supplies1,507 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 $2.53 billion, respectively.
v3.25.4
Equity Method Investments
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Equity Method Investments
Ownership as ofCarrying value at
December 31,December 31,
(In millions of dollars, except ownership percentages)VIE202520252024
Refining & Marketing
TAMH(a)
—%$— $190 
LF Bioenergy Holdings LLC
50%98 92 
Refining & Marketing Total$98 $282 
Midstream
MPLX
BANGL(b)
$— $281 
Illinois Extension Pipeline Company, L.L.C.35%208 218 
LOOP LLC41%313 310 
MarEn Bakken Company LLC25%502 526 
MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C.X67%407 329 
MarkWest Utica EMG, L.L.C.X61%890 742 
Ohio Gathering Co, LLCX32%444 470 
Sherwood Midstream LLCX50%475 488 
Texas City Logistics LLCX50%163 — 
WPC Parent, LLC30%273 208 
Other(c)
X1,123 959 
MPLX Total$4,798 $4,531 
MPC-Retained
Capline Pipeline Company LLC33%$365 $382 
Gray Oak Pipeline, LLC25%268 274 
Other(c)
X113 114 
MPC-Retained Total$746 $770 
Midstream Total$5,544 $5,301 
Renewable Diesel
Martinez Renewables LLCX50%$1,065 $1,184 
Other(c)
X88 90 
Renewable Diesel Total$1,153 $1,274 
Total$6,795 $6,857 
(a)    In July 2025, we sold our interest in TAMH, as discussed in Note 5.
(b)    In July 2025, MPLX purchased the remaining interest in BANGL, increasing MPLX’s ownership to 100 percent. See Note 5 for additional information.
(c)     Some investments included within “Other” have been deemed to be VIEs.
Summarized financial information for all equity method investments in affiliated companies, combined, was as follows:
(Millions of dollars)202520242023
Income statement data:
Revenues and other income$10,223 $9,259 $6,544 
Income from operations2,713 2,698 2,428 
Net income2,368 2,211 2,089 
Balance sheet data – December 31:
Current assets$2,246 $2,687 
Noncurrent assets26,310 24,656 
Current liabilities2,176 1,927 
Noncurrent liabilities8,050 7,837 
As of December 31, 2025, the carrying value of our equity method investments was $432 million higher than our share of the underlying net assets of investees. This basis difference is being amortized into net income over the remaining estimated useful lives of the underlying net assets, except for $174 million of excess related to goodwill and other non-depreciable assets.
Dividends and partnership distributions received from equity method investees (excluding distributions that represented a return of capital previously contributed) were $1.255 billion, $1.215 billion and $941 million in 2025, 2024 and 2023, respectively.
v3.25.4
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment (PP&E)
December 31, 2025December 31, 2024
(Millions of dollars)Gross
PP&E		Accumulated DepreciationNet
PP&E		Gross
PP&E		Accumulated DepreciationNet
PP&E
Refining & Marketing$34,372 $20,462 $13,910 $32,965 $19,015 $13,950 
Midstream34,057 11,690 22,367 30,697 10,798 19,899 
Renewable Diesel970 396 574 976 338 638 
Corporate1,610 1,064 546 1,679 1,138 541 
Total(a)
$71,009 $33,612 $37,397 $66,317 $31,289 $35,028 
(a)    Includes finance leases. See Note 26.
Property, plant and equipment includes construction in progress of $2.91 billion and $1.78 billion at December 31, 2025 and 2024, respectively, which primarily relates to capital projects at our refineries and midstream facilities.
v3.25.4
Goodwill and Intangibles
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangibles Goodwill and Intangibles
Goodwill
MPC annually evaluates goodwill for impairment as of November 30, as well as whenever events or changes in circumstances indicate it is more likely than not that the fair value of a reporting unit with goodwill is less than its carrying amount. There were no impairments of goodwill required based on our annual test of goodwill in 2025 and 2024.
At December 31, 2025, MPC had five reporting units with goodwill totaling approximately $9.35 billion. For the annual impairment assessment as of November 30, 2025, management performed only qualitative assessments for all five reporting units as we determined it was more likely than not that the fair values of the reporting units exceeded their carrying values.
The changes in the carrying amount of goodwill for 2025 were as follows:
(Millions of dollars)Refining & MarketingMidstreamTotal
Balance as of December 31, 2023$561 $7,683 $8,244 
Impairment losses— — — 
Balance as of December 31, 2024561 7,683 8,244 
Acquisitions— 1,110 1,110 
Impairment losses— — — 
Balance as of December 31, 2025$561 $8,793 $9,354 
Gross goodwill as of December 31, 2025$6,141 $11,934 $18,075 
Accumulated impairment losses(5,580)(3,141)(8,721)
Balance as of December 31, 2025$561 $8,793 $9,354 

Intangible Assets
Our definite lived intangible assets as of December 31, 2025 and 2024 are as shown below.
December 31, 2025December 31, 2024
(Millions of dollars)GrossAccumulated AmortizationNetGrossAccumulated AmortizationNet
Customer contracts and relationships$5,245 $2,623 $2,622 $4,111 $2,446 $1,665 
Brand rights and tradenames100 100 — 101 89 12 
Royalty agreements142 126 16 141 120 21 
Other38 33 5 36 31 5 
Total$5,525 $2,882 $2,643 $4,389 $2,686 $1,703 
At both December 31, 2025 and 2024, we had indefinite lived intangible assets of $71 million, which are emission allowance credits.
Amortization expense was $271 million in 2025 and $266 million in 2024. Estimated future amortization expense for the next five years related to the intangible assets at December 31, 2025 is as follows:
(Millions of dollars)
2026$283 
2027254 
2028238 
202991 
203091 
v3.25.4
Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Fair Values – Recurring
The following tables present assets and liabilities accounted for at fair value on a recurring basis as of December 31, 2025 and 2024 by fair value hierarchy level. We have elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty, including any related cash collateral as shown below; however, fair value amounts by hierarchy level are presented on a gross basis in the following tables.
December 31, 2025
Fair Value Hierarchy
(Millions of dollars)Level 1Level 2Level 3
Netting and Collateral(a)
Net Carrying Value on Balance Sheet(b)
Collateral Pledged Not Offset
Assets:
Commodity contracts$243 $— $— $(226)$17 $10 
Liabilities:
Commodity contracts$236 $— $— $(236)$— $— 
Embedded derivatives in commodity contracts— — 41 — 41 — 
Contingent consideration, liability— — 236 — 236 — 
December 31, 2024
Fair Value Hierarchy
(Millions of dollars)Level 1Level 2Level 3
Netting and Collateral(a)
Net Carrying Value on Balance Sheet(b)
Collateral Pledged Not Offset
Assets:
Commodity contracts$139 $— $— $(132)$7 $16 
Liabilities:
Commodity contracts$144 $— $— $(144)$— $— 
Embedded derivatives in commodity contracts— — 58 — 58 — 
(a)    Represents the impact of netting assets, liabilities and cash collateral when a legal right of offset exists. As of December 31, 2025, cash collateral of $10 million was netted with mark-to-market derivative liabilities. As of December 31, 2024, cash collateral of $12 million was netted with mark-to-market derivative liabilities.
(b)    We have no derivative contracts which are subject to master netting arrangements reflected gross on the balance sheet.
Level 3 instruments include a liability for contingent consideration related to the BANGL Acquisition earnout provision and an embedded derivative liability for a natural gas purchase commitment embedded in a keep-whole processing agreement.
The fair value calculation for the contingent consideration liability was estimated using discounted cash flows based on a Monte Carlo simulation. Future earnout payments are tied to the achievement of EBITDA growth from 2026 to 2029, which includes significant unobservable input of forecasted throughput volumes. The earnout payment will continue to be remeasured at fair value each quarter with changes in fair value recognized in earnings until either the EBITDA targets are met or the earnout period ends, with the total payout capped at $275 million.
The fair value calculation for the embedded derivative liability at December 31, 2025 used significant unobservable inputs including: (1) NGL prices interpolated and extrapolated due to inactive markets ranging from $0.60 to $1.19 per gallon with a weighted average of $0.72 per gallon and (2) a 100 percent probability of renewable for the five-year term of the natural gas purchase commitment and related keep-whole processing agreement. Increases or decreases in the fractionation spread result in an increase or decrease in the fair value of the embedded derivative liability.
The following is a reconciliation of the beginning and ending balances recorded for net liabilities classified as Level 3 in the fair value hierarchy.
(Millions of dollars)20252024
Beginning balance$58 $61 
Contingent consideration(a)
234 — 
Unrealized and realized (gain) loss included in net income(b)
(5)10 
Settlements of derivative instruments(10)(13)
Ending balance$277 $58 
The amount of total (gain) loss for the period included in earnings attributable to the change in unrealized loss relating to liabilities still held at the end of period(b):
$(7)$7 
(a)    Liability recorded in the third quarter of 2025 related to the BANGL Acquisition earnout provision.
(b)    The gain/loss is included in cost of revenues on the consolidated statements of income.
See Note 18 for the income statement impacts of our derivative instruments.
Fair Values – Reported
We believe the carrying value of our other financial instruments, including cash and cash equivalents, receivables, accounts payable and certain accrued liabilities, approximate fair value. Our fair value assessment incorporates a variety of considerations, including the short-term duration of the instruments, historical incurrence of credit losses and expected insignificance of future credit losses, which includes an evaluation of counterparty credit risk. The borrowings under our revolving credit facilities, which include variable interest rates, approximate fair value. The fair value of our long-term debt is estimated based on average bid prices obtained from broker quotes and is categorized in level 3 of the fair value hierarchy. The carrying and fair values of our debt were approximately $32.4 billion and $31.1 billion at December 31, 2025, respectively, and approximately $26.9 billion and $25.0 billion at December 31, 2024, respectively. These carrying and fair values of our debt exclude the unamortized issuance costs, which are netted against our total debt.
v3.25.4
Derivatives
 12 Months Ended
Dec. 31, 2025
Summary of Derivative Instruments [Abstract]  
Derivatives Derivatives
For further information regarding the fair value measurement of derivative instruments, including any effect of master netting agreements or collateral, see Note 17. See Note 2 for a discussion of the types of derivatives we use and the reasons for them. We do not designate any of our commodity derivative instruments as hedges for accounting purposes.
The following table presents the fair value of derivative instruments as of December 31, 2025 and 2024 and the line items in the consolidated balance sheets in which the fair values are reflected. The fair value amounts below are presented on a gross basis and do not reflect the netting of asset and liability positions permitted under the terms of our master netting arrangements including cash collateral on deposit with, or received from, brokers. We offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of offset exists. As a result, the asset and liability amounts below will not agree with the amounts presented in our consolidated balance sheets.
(Millions of dollars)December 31, 2025December 31, 2024
Balance Sheet LocationAssetLiabilityAssetLiability
Commodity derivatives
Other current assets$243 $236 $139 $144 
Other current liabilities(a)
— 6 — 10 
Deferred credits and other liabilities(a)
— 35 — 48 
(a)    Includes embedded derivatives.
The table below summarizes open commodity derivative contracts for crude oil, refined products, blending products and soybean oil as of December 31, 2025. 
Percentage of contracts that expire next quarterPosition
(Units in thousands of barrels)LongShort
Exchange-traded(a)
Crude oil56.1%40,038 41,459 
Refined products80.8%37,457 39,082 
Blending products91.6%7,225 6,502 
Soybean oil94.9%1,171 1,422 
(a)    Included in exchange-traded are spread contracts in thousands of barrels: Crude oil - 3,600 long and 2,970 short; Refined products - 3,156 long and 3,041 short; Blending products - 173 long. There are no spread contracts for Soybean oil.
The following table summarizes the effect of all commodity derivative instruments in our consolidated statements of income:
(Millions of dollars)Gain (Loss)
Income Statement Location202520242023
Sales and other operating revenues$— $1 $7 
Cost of revenues(25)(94)(15)
Other income1 2 2 
Total$(24)$(91)$(6)
v3.25.4
Debt
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Debt Debt
Our outstanding borrowings at December 31, 2025 and 2024 consisted of the following:
(Millions of dollars)December 31,
2025		December 31,
2024
Marathon Petroleum Corporation:
Senior notes$6,449 $5,699 
MARAD debt161 174 
Finance lease obligations689 718 
Total7,299 6,591 
MPLX LP:
Senior notes26,000 21,200 
Finance lease obligations6 6 
Total26,006 21,206 
Total debt33,305 27,797 
Unamortized debt issuance costs(204)(142)
Unamortized discount, net of unamortized premium(225)(174)
Amounts due within one year(2,371)(3,049)
Total long-term debt due after one year$30,505 $24,432 
Commercial Paper
We have in place a commercial paper program that allows us to have a maximum of $2.0 billion in commercial paper outstanding, with maturities up to 397 days from the date of issuance. We do not intend to have outstanding commercial paper borrowings in excess of available capacity under the MPC Credit Agreement.
MPC Senior Notes
 December 31,
(Millions of dollars)20252024
Senior notes, 4.700% due May 2025$— $1,250 
Senior notes, 5.125% due December 2026719 719 
Senior notes, 3.800% due April 2028496 496 
Senior notes, 5.150% due March 20301,100 — 
Senior notes, 5.700% due March 2035900 — 
Senior notes, 6.500% due March 20411,250 1,250 
Senior notes, 4.750% due September 2044800 800 
Senior notes, 5.850% due December 2045250 250 
Senior notes, 4.500% due April 2048498 498 
Andeavor senior notes, 3.800% - 5.125% due 2026 – 204836 36 
Senior notes, 5.000%, due September 2054400 400 
Total$6,449 $5,699 
2025 Activity
On February 10, 2025, MPC issued $2.0 billion aggregate principal amount of senior notes in an underwritten public offering (“2025 Senior Notes Offering”), consisting of:
•$1.1 billion aggregate principal amount of 5.150 percent senior notes due March 2030; and
•$900 million aggregate principal amount of 5.700 percent senior notes due March 2035.
The 2025 Senior Note Offering replaced the $750 million aggregate principal amount of 3.625 percent senior notes that matured in September 2024 and was used to repay the $1.250 billion aggregate principal amount of 4.700 percent senior notes at maturity on May 1, 2025.
2024 Activity
On September 16, 2024, we repaid the $750 million outstanding principal amount of 3.625 percent senior notes due September 2024 at maturity using cash on hand.
Interest on each series of senior notes is payable semi-annually in arrears. The MPC senior notes are unsecured and unsubordinated obligations of MPC and rank equally with all of MPC’s other existing and future unsecured and unsubordinated indebtedness. The MPC senior notes are non-recourse to our subsidiaries and structurally subordinated to the indebtedness of our subsidiaries, including the outstanding indebtedness of Andeavor and MPLX. The Andeavor senior notes are unsecured, unsubordinated obligations of Andeavor and are non-recourse to MPC and any of MPC’s subsidiaries other than Andeavor.
MARAD Debt
 December 31,
(Millions of dollars)20252024
Bonds, 3.432% due August 2036$51 $55 
Bonds, 3.477% due January 203753 57 
Bonds, 3.609% due January 203857 62 
Total$161 $174 
During the fourth quarter of 2024, MPC purchased the remaining 50 percent interest in Coastal Holdings from our joint venture partner and assumed $174 million in aggregate principal amount of MARAD Debt obligations issued by Blue Water Holdings, a subsidiary of Coastal Holdings LLC, which owns three 750 series ATB Vessels. Blue Water Holdings remains the primary obligor under the MARAD Debt. The U.S. Department of Transportation Maritime Administration (“MARAD”) has guaranteed certain of Blue Water Holdings’ obligations under the MARAD Debt and Blue Water Holdings has agreed to reimburse MARAD for any payments it makes with respect to the MARAD Debt pursuant to the guaranty. Blue Water Holdings’ reimbursement obligations to MARAD with respect to the MARAD Debt are secured by a mortgage on the three ATB Vessels and certain related rights and assets and are guaranteed by Marathon Petroleum Corporation.
The agreements that govern the MARAD Debt, including the indenture, security agreement and guarantee contain customary representations and warranties as well as affirmative and negative covenants, events of defaults and other provisions, we believe are typical for U.S. government guaranteed obligations of this type. As of December 31, 2025, we were in compliance with the covenants contained in the MARAD Debt documents.
MPLX Senior Notes
 December 31,
(Millions of dollars)20252024
Senior notes, 4.000% due February 2025$— $500 
Senior notes, 4.875% due June 2025— 1,189 
MarkWest senior notes, 4.875% due 2025— 11 
Senior notes, 1.750% due March 20261,500 1,500 
Senior notes, 4.125% due March 20271,250 1,250 
Senior notes, 4.250% due December 2027732 732 
Senior notes, 4.000% due March 20281,250 1,250 
Senior notes, 4.800% due February 2029750 750 
Senior notes, 2.650% due August 20301,500 1,500 
Senior notes, 4.800% due February 20311,250 — 
Senior notes, 4.950% due September 20321,000 1,000 
Senior notes, 5.000% due January 2033750 — 
Senior notes, 5.000% due March 20331,100 1,100 
Senior notes, 5.500% due June 20341,650 1,650 
Senior notes, 5.400% due April 20351,000 — 
Senior notes, 5.400% due September 20351,500 — 
Senior notes, 4.500% due April 20381,750 1,750 
Senior notes, 5.200% due March 20471,000 1,000 
Senior notes, 5.200% due December 2047487 487 
ANDX senior notes, 4.250% - 5.200% due 2027 – 204731 31 
Senior notes, 4.700% due April 20481,500 1,500 
Senior notes, 5.500% due February 20491,500 1,500 
Senior notes, 4.950% due March 20521,500 1,500 
Senior notes, 5.650% due March 2053500 500 
Senior notes, 5.950% due April 20551,000 — 
Senior notes, 6.200% due September 20551,000 — 
Senior notes, 4.900% due April 2058500 500 
Total$26,000 $21,200 
2025 Activity
On February 18, 2025, MPLX repaid all of MPLX's outstanding $500 million aggregate principal amount of 4.000 percent senior notes due February 2025 at maturity.
On March 10, 2025, MPLX issued $2.0 billion in aggregate principal amount of senior notes in an underwritten public offering (“March 2025 MPLX Senior Notes”), consisting of:
•$1.0 billion aggregate principal amount of 5.400 percent senior notes due April 2035; and
•$1.0 billion aggregate principal amount of 5.950 percent senior notes due April 2055.
On April 9, 2025, MPLX used a portion of the net proceeds from the March 2025 MPLX Senior Notes Offering to redeem all of (i) MPLX LP’s outstanding $1,189 million aggregate principal amount of 4.875 percent senior notes due June 2025 and (ii) MarkWest Energy Partners, L.P.’s outstanding $11 million aggregate principal amount of 4.875 percent senior notes due June 2025. MPLX used the remaining net proceeds for general partnership purposes.
On August 11, 2025, MPLX issued $4.5 billion in aggregate principal amount of senior notes in an underwritten public offering (“August 2025 MPLX Senior Notes Offering”), consisting of:
•$1.25 billion aggregate principal amount of 4.800 percent senior notes due February 2031;
•$750 million aggregate principal amount of 5.000 percent senior notes due January 2033;
•$1.5 billion aggregate principal amount of 5.400 percent senior notes due September 2035; and
•$1.0 billion aggregate principal amount of 6.200 percent senior notes due September 2055.
MPLX used a portion of the net proceeds from the August 2025 MPLX Senior Notes Offering to fund the Northwind Midstream Acquisition, including the payment of related fees and expenses, and to increase cash and cash equivalents following the recently completed BANGL Acquisition and BANGL Debt Repayment. The remainder of the net proceeds from the August 2025 MPLX Senior Notes Offering were used for general partnership purposes.
2024 Activity
On May 20, 2024, MPLX issued $1.65 billion aggregate principal amount of 5.50 percent senior notes due June 2034 (the “2034 Senior Notes”) in an underwritten public offering. On December 1, 2024, MPLX used $1,150 million of the net proceeds from the issuance of the 2034 Senior Notes to repay all of (i) MPLX's outstanding $1,149 million aggregate principal amount of 4.875 percent senior notes due December 2024 and (ii) MarkWest's outstanding $1 million aggregate principal amount of 4.875 percent senior notes due December 2024.
Interest on each series of MPLX fixed rate senior notes is payable semi-annually in arrears. The MPLX senior notes are unsecured, unsubordinated obligations of MPLX and are non-recourse to MPC and its subsidiaries other than MPLX and MPLX GP LLC, as the general partner of MPLX. The MPLX senior notes are non-recourse to MPLX’s subsidiaries and structurally subordinated to the indebtedness of MPLX’s subsidiaries.
Schedule of Maturities
Principal maturities of long-term debt, excluding finance lease obligations, as of December 31, 2025 for the next five years are as follows:
(Millions of dollars)
2026$2,263 
20272,014 
20281,764 
2029764 
20302,614 
Available Capacity under our Facilities as of December 31, 2025
(Millions of dollars)Total
Capacity		Outstanding
Borrowings		Outstanding
Letters
of Credit		Available
Capacity		Weighted
Average
Interest
Rate		Expiration
MPC, excluding MPLX
MPC bank revolving credit facility$5,000 $— $1 $4,999 — July 2027
MPC trade receivables securitization facility(a)
100 — — 100 — September 2027
MPLX
MPLX bank revolving credit facility2,000 — — 2,000 — July 2027
(a)    The committed borrowing and letter of credit issuance capacity under the trade receivables securitization facility is $100 million. In addition, the facility allows for the issuance of letters of credit in excess of the committed capacity at the discretion of the issuing banks.
MPC Bank Revolving Credit Facility
MPC’s credit agreement (the “MPC Credit Agreement”) matures in July 2027 and provides for a $5.0 billion unsecured revolving credit facility and letter of credit issuing capacity under the facility of up to $2.2 billion. Letters of credit issuing capacity is included in, not in addition to, the $5.0 billion borrowing capacity.
MPC has an option under the MPC Credit Agreement to increase the aggregate commitments by up to an additional $1.0 billion, subject to, among other conditions, the consent of the lenders whose commitments would be increased. In addition, the maturity date may be extended, for up to two additional one year periods, subject to, among other conditions, the approval of lenders holding the majority of the commitments then outstanding, provided that the commitments of any non-consenting lenders will terminate on the then-effective maturity date. The MPC Credit Agreement includes sub-facilities for swing-line loans of up to $250 million and letters of credit of up to $2.2 billion (which may be increased to up to $3.0 billion upon receipt of additional letter of credit issuing commitments).
Borrowings under the MPC Credit Agreement bear interest, at our election, at either the Adjusted Term SOFR or the Alternate Base Rate, both as defined in the MPC Credit Agreement, plus an applicable margin. We are charged various fees and expenses in connection with the agreement, including administrative agent fees, commitment fees on the unused portion of the commitments and fees with respect to issued and outstanding letters of credit. The applicable margins to the benchmark interest rates and the commitment fees payable under the MPC Credit Agreement fluctuate based on changes, if any, to our credit ratings.
The MPC Credit Agreement contains certain representations and warranties, affirmative and restrictive covenants and events of default that we consider to be usual and customary for arrangements of this type, including a financial covenant that requires us to maintain a ratio of Consolidated Net Debt to Total Capitalization, each as defined in the MPC Credit Agreement, of no greater than 0.65 to 1.00 as of the last day of each fiscal quarter. The covenants also restrict, among other things, our ability and/or the ability of certain of our subsidiaries to incur debt, create liens on assets or enter into transactions with affiliates. As of December 31, 2025, we were in compliance with the covenants contained in the MPC Credit Agreement.
Trade Receivables Securitization Facility
On September 30, 2021, we entered into a Loan and Security Agreement and related documentation with a group of lenders providing for a new trade receivables securitization facility having $100 million of committed borrowing and letter of credit issuance capacity and uncommitted borrowing and letter of credit issuance capacity that can be extended at the discretion of the lenders, provided that at no time may outstanding borrowings and letters of credit issued under the facility exceed the balance of eligible trade receivables (as calculated in accordance with the Loan and Security Agreement) that are pledged as collateral under the facility. In September 2024, the trade receivables securitization facility was amended to, among other things, extend its term until September 30, 2027.
The trade receivables facility consists of certain of our wholly owned subsidiaries (“Originators”) selling or contributing on an on-going basis all of the trade receivables generated by them (the “Pool Receivables”), together with all related security and interests in the proceeds thereof, without recourse, to another wholly owned, bankruptcy-remote special purpose subsidiary, MPC Trade Receivables Company I LLC (“TRC”), in exchange for a combination of cash, equity and/or borrowings under a subordinated note issued by TRC to one or more of the Originators. TRC may request borrowings and extensions of credit under the Loan and Security Agreement for up to the lesser of the maximum capacity under the facility or the eligible trade receivables balance of the Pool Receivables. TRC and each of the Originators have granted a security interest in all of their rights, title and interests in and to the Pool Receivables, together with all related security and interests in the proceeds thereof, to the lenders to secure the performance of TRC’s and the Originators’ payment and other obligations under the facility. In addition, Marathon Petroleum Corporation has issued a performance guaranty in favor of the lenders guaranteeing the performance by TRC and the Originators of their obligations under the facility.
To the extent that TRC retains an ownership interest in the Pool Receivables, such interest will be included in our consolidated financial statements solely as a result of the consolidation of the financial statements of TRC with those of MPC. The receivables sold or contributed to TRC are available first and foremost to satisfy claims of the creditors of TRC and are not available to satisfy the claims of creditors of MPC. TRC has granted a security interest in all of its assets to the lenders to secure its obligations under the Loan and Security Agreement.
TRC pays floating-rate interest charges and usage fees on amounts outstanding under the trade receivables facility, if any, unused fees on the portion of unused commitments and certain other fees related to the administration of the facility and letters of credit that are issued and outstanding under the trade receivables facility.
The Loan and Security Agreement and other documents comprising the facility contain representations and covenants that we consider usual and customary for arrangements of this type. Trade receivables are subject to customary criteria, limits and reserves before being deemed to be eligible receivables that count towards the borrowing base under the trade receivables facility. In addition, the lender’s commitments to extend loans and credits under the facility are subject to termination, and TRC may be subject to default fees, upon the occurrence of certain events of default that are included in the Loan and Security Agreement and other facility documentation, all of which we consider to be usual and customary for arrangements of this type. As of December 31, 2025, we were in compliance with the covenants contained in the Loan and Security Agreement and other facility documentation.
MPLX Bank Revolving Credit Facility
MPLX’s credit agreement (the “MPLX Credit Agreement”) matures in July 2027 and, among other things, provides for a $2.0 billion unsecured revolving credit facility and letter of credit issuing capacity under the facility of up to $150 million. Letters of credit issuing capacity is included in, not in addition to, the $2.0 billion borrowing capacity.
The borrowing capacity under the MPLX Credit Agreement may be increased by up to an additional $1.0 billion, subject to certain conditions, including the consent of the lenders whose commitments would increase. In addition, the maturity date may be extended, for up to two additional one year periods, subject to, among other conditions, the approval of lenders holding the majority of the commitments then outstanding, provided that the commitments of any non-consenting lenders will terminate on the then-effective maturity date.
Borrowings under the MPLX Credit Agreement bear interest, at MPLX’s election, at either the Adjusted Term SOFR or the Alternate Base Rate, both as defined in the MPLX Credit Agreement, plus an applicable margin. MPLX is charged various fees and expenses in connection with the agreement, including administrative agent fees, commitment fees on the unused portion of the commitments and fees with respect to issued and outstanding letters of credit. The applicable margins to the benchmark interest rates and the commitment fees payable under the MPLX Credit Agreement fluctuate based on changes, if any, to MPLX’s credit ratings.
The MPLX Credit Agreement contains certain representations and warranties, affirmative and restrictive covenants and events of default that we consider to be usual and customary for an agreement of this type, including a financial covenant that requires MPLX to maintain a ratio of Consolidated Total Debt as of the end of each fiscal quarter to Consolidated EBITDA, both as defined in the MPLX Credit Agreement, for the prior four fiscal quarters of no greater than 5.0 to 1.0 (or 5.5 to 1.0 for up to two fiscal quarters following certain acquisitions). Consolidated EBITDA is subject to adjustments for certain acquisitions completed and capital projects undertaken during the relevant period. The covenants also restrict, among other things, MPLX’s ability and/or the ability of certain of its subsidiaries to incur debt, create liens on assets and enter into transactions with affiliates. As of December 31, 2025, MPLX was in compliance with the covenants contained in the MPLX Credit Agreement.
v3.25.4
Revenue
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table presents our revenues from external customers disaggregated by segment and product line:
(Millions of dollars)202520242023
Refining & Marketing
Refined products$116,504 $122,429 $132,675 
Crude oil5,817 7,298 7,423 
Services and other1,931 1,861 1,737 
Total revenues from external customers124,252 131,588 141,835 
Midstream
Refined products2,022 1,668 1,675 
Services and other(a)
3,606 3,529 3,236 
Total revenues from external customers5,628 5,197 4,911 
Renewable Diesel
Refined products2,799 2,073 1,628 
Services and other15 6 5 
Total revenues from external customers2,814 2,079 1,633 
Other service revenue5 — — 
Sales and other operating revenues$132,699 $138,864 $148,379 
(a)    Includes sales-type lease revenue. See Note 26.
We do not disclose information on the future performance obligations for any contract with expected duration of one year or less at inception. As of December 31, 2025, we do not have future performance obligations that are material to future periods.
Contract Balances
Our receivables primarily consist of customer receivables. Significant, non-customer balances included in our receivables at December 31, 2025 and December 31, 2024 include matching buy/sell receivables of $4.1 billion and $4.3 billion, respectively.
Our contract liabilities primarily represent advances from our customers prior to product of service delivery. At December 31, 2025 and December 31, 2024, contract liabilities were $215 million and $515 million, respectively. Contract liabilities are included in other current liabilities and deferred credits and other liabilities on our consolidated balance sheets. We classify contract liabilities as current or long-term based on the timing of when we expect to recognize revenue.
v3.25.4
Supplemental Cash Flow Information
 12 Months Ended
Dec. 31, 2025
Supplemental Cash Flow Information [Abstract]  
Supplemental Cash Flow Information Supplemental Cash Flow Information
(Millions of dollars)202520242023
Net cash provided by operating activities included:
Interest paid (net of amounts capitalized)$1,219 $1,247 $1,200 
Income taxes paid to taxing authorities
Federal(a)
333 635 2,321 
State and local:
California22 45 98 
Other33 46 327 
Foreign18 6 5 
Total406 732 2,751 
Cash paid for amounts included in the measurement of lease liabilities
Payments on operating leases530 532 493 
Interest payments under finance lease obligations33 25 25 
Net cash provided by financing activities included:
Principal payments under finance lease obligations108 82 79 
Non-cash investing and financing activities:
Right of use assets obtained in exchange for new operating lease obligations724 637 465 
Right of use assets obtained in exchange for new finance lease obligations85 302 21 
Contribution of assets(b)
115 — — 
Book value of equity method investment(c)
282 50 311 
Contingent consideration(d)
234 — — 
(a)    Includes $332 million and $565 million in 2025 and 2024, respectively, paid to third parties and related parties for transferable tax credits. The 2025 total includes $221 million paid to Martinez Renewables LLC.
(b)    Represents the book value of assets contributed by MPLX to a JV.
(c)    2025 and 2023 represents the book value of MPLX’s equity method investment in BANGL and Torñado, respectively, prior to MPLX buying out the remaining interest in these entities. 2024 represents the book value of Coastal Holdings prior to MPC buying out the remaining 50 percent interest from our joint venture partner. See Note 5 for additional information.
(d)    See Note 5 - BANGL, LLC Acquisitions
The consolidated statements of cash flows exclude changes to the consolidated balance sheets that did not affect cash. The following is a reconciliation of additions to property, plant and equipment to total capital expenditures:
(Millions of dollars)202520242023
Additions to property, plant and equipment per the consolidated statements of cash flows$3,486 $2,533 $1,890 
Increase in capital accruals143 34 184 
Total capital expenditures$3,629 $2,567 $2,074 
v3.25.4
Other Current Liabilities
 12 Months Ended
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]  
Other Liabilities Disclosure
The following summarizes the components of other current liabilities:
December 31,
(Millions of dollars)20252024
Environmental credits liability$463 $422 
Accrued interest payable449 314 
Other current liabilities341 419 
Total other current liabilities$1,253 $1,155 
v3.25.4
Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Accumulated Other Comprehensive Loss
The following table shows the changes in accumulated other comprehensive income (loss) by component. Amounts in parentheses indicate debits.
(Millions of dollars)Pension BenefitsOther BenefitsOtherTotal
Balance as of December 31, 2022$(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 effect13 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 effect6 5 — 11 
Other comprehensive income (loss)26 (7)(2)17 
Balance as of December 31, 2024(235)122 (1)(114)
Other comprehensive income (loss) before reclassifications, net of tax of $5
19 (1)(1)17 
Amounts reclassified from accumulated other comprehensive loss:
Amortization of prior service credit(a)
(9)(22)— (31)
Amortization of actuarial loss(a)
17 — — 17 
Settlement loss(a)
2 — — 2 
Other— — 1 1 
Tax effect(3)6 — 3 
Other comprehensive income (loss)26 (17)— 9 
Balance as of December 31, 2025$(209)$105 $(1)$(105)
(a)    These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost. See Note 24.
v3.25.4
Pension and Other Postretirement Benefits
 12 Months Ended
Dec. 31, 2025
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Defined Benefit Pension and Other Postretirement Plans Pension and Other Postretirement Benefits
We have two noncontributory defined benefit pension plans. One plan is frozen and covered certain employees of our former Speedway LLC subsidiary. The other plan is active and covers substantially all of our employees. Benefits under these plans are based on a now frozen final average pay type of benefit based on age, years of service and final average pensionable earnings, and a cash balance type of benefit. The years of service component for the final average pay type of benefit was frozen as of December 31, 2009, and certain of the pensionable earnings components were frozen as of December 31, 2012. Benefits for the cash balance type of benefit began on January 1, 2010 for our continuing active plan, and began on January 1, 2016 for our frozen plan, and are based on a cash balance formula with an annual percentage of eligible pay credited based upon age and years of service or at a flat rate of eligible pay, depending on covered employee group. Substantially all of our employees also accrue benefits under a defined contribution plan.

(Millions of dollars)202520242023
Cash balance weighted average interest crediting rates4.19 %4.56 %3.57 %
We also have other postretirement benefits covering most employees. Retiree health care benefits are provided through comprehensive hospital, surgical, major medical benefit, prescription drug and related health benefit provisions subject to various cost sharing features. Retiree life insurance benefits are provided to a closed group of retirees. Other postretirement benefits are not funded in advance.
In connection with the Andeavor acquisition, we assumed a number of additional qualified and nonqualified noncontributory benefit pension plans, covering substantially all former Andeavor employees. Benefits under these plans are determined based on final average compensation and years of service through December 31, 2010 and a cash balance formula for service beginning January 1, 2011. These plans were frozen as of December 31, 2018. Further, as of December 31, 2019, the qualified plans were merged with our existing qualified plans in which the actuarial assumptions were materially the same between the plans. We also assumed a number of additional postretirement benefits covering eligible employees. These benefits were merged with our existing benefits beginning January 1, 2019.
Obligations and Funded Status
The accumulated benefit obligation for all defined benefit pension plans was $2,818 million and $2,579 million as of December 31, 2025 and 2024.
The following summarizes the projected benefit obligations and funded status for our defined benefit pension and other postretirement plans:
 Pension BenefitsOther Benefits
(Millions of dollars)2025202420252024
Benefit obligations at January 1$2,685 $2,563 $669 $679 
Service cost220 219 20 21 
Interest cost144 122 35 32 
Actuarial (gain) loss109 (32)4 (14)
Benefits paid(226)(187)(50)(49)
Benefit obligations at December 312,932 2,685 678 669 
Fair value of plan assets at January 12,158 2,082 — — 
Actual return on plan assets267 161 — — 
Employer contributions200 102 50 49 
Benefits paid from plan assets(226)(187)(50)(49)
Fair value of plan assets at December 312,399 2,158 — — 
Funded status at December 31$(533)$(527)$(678)$(669)

Amounts recognized in the consolidated balance sheet for our pension and other postretirement benefit plans at December 31 include:
 Pension BenefitsOther Benefits
(Millions of dollars)2025202420252024
Noncurrent assets$23 $22 $— $— 
Current liabilities(10)(11)(51)(50)
Noncurrent liabilities(546)(538)(627)(619)
Accrued benefit cost$(533)$(527)$(678)$(669)
Included in accumulated other comprehensive loss at December 31 were the following before-tax amounts that had not been recognized in net periodic benefit cost:
 Pension BenefitsOther Benefits
(Millions of dollars)2025202420252024
Net actuarial loss$367 $404 $40 $36 
Prior service credit(27)(36)(159)(181)
Amounts exclude those related to LOOP and Explorer, equity method investees with defined benefit pension and postretirement plans for which net losses (gains) of less than $1 million and $7 million were recorded in accumulated other comprehensive income (loss) in 2025, reflecting our ownership share.
Components of Net Periodic Benefit Cost and Other Comprehensive (Income) Loss
The following summarizes the net periodic benefit costs and the amounts recognized as other comprehensive loss (pretax) for our defined benefit pension and other postretirement plans.
 Pension BenefitsOther Benefits
(Millions of dollars)202520242023202520242023
Service cost$224 $227 $201 $20 $21 $18 
Interest cost144 122 116 35 32 31 
Expected return on plan assets(144)(146)(163)— — — 
Amortization of prior service credit(9)(33)(45)(22)(22)(22)
Amortization of actuarial (gain) loss17 6 (5)— — — 
Settlement (gain) loss2 3 (1)— — — 
Net periodic benefit cost(a)
$234 $179 $103 $33 $31 $27 
Actuarial (gain) loss$(18)$(54)$75 $4 $(15)$31 
Amortization of actuarial gain (loss)(19)(9)6 — — — 
Amortization of prior service credit9 33 45 22 22 22 
Total recognized in other comprehensive (income) loss$(28)$(30)$126 $26 $7 $53 
Total recognized in net periodic benefit cost and other comprehensive loss$206 $149 $229 $59 $38 $80 
(a)    Net periodic benefit cost reflects a calculated market-related value of plan assets which recognizes changes in fair value over three years.
The components of net periodic benefit cost, other than the service cost component, are included in net interest and other financial costs on the consolidated statements of income.
For certain of our pension plans, lump sum payments to employees retiring in 2025, 2024 and 2023 exceeded the plan’s total service and interest costs expected for those years. Settlement losses are required to be recorded when lump sum payments exceed total service and interest costs. As a result, pension settlement expenses were recorded in 2025, 2024 and 2023.
Plan Assumptions
The following summarizes the assumptions used to determine the benefit obligations at December 31, and net periodic benefit cost for the defined benefit pension and other postretirement plans for 2025, 2024 and 2023.
Pension BenefitsOther Benefits
 202520242023202520242023
Benefit obligation:
Discount rate5.25 %5.55 %4.85 %5.40 %5.58 %4.88 %
Rate of compensation increase3.83 %4.18 %4.18 %3.83 %4.18 %4.18 %
Net periodic benefit cost:
Discount rate5.53 %4.85 %5.10 %5.58 %4.88 %5.08 %
Expected long-term return on plan assets7.10 %6.80 %7.00 %— %— %— %
Rate of compensation increase3.83 %4.18 %4.18 %3.83 %4.18 %4.18 %
Expected Long-term Return on Plan Assets
The overall expected long-term return on plan assets assumption is determined based on an asset rate-of-return modeling tool developed by a third-party investment group. The tool utilizes underlying assumptions based on actual returns by asset category and inflation and takes into account our asset allocation to derive an expected long-term rate of return on those assets. Capital market assumptions reflect the long-term capital market outlook. The assumptions for equity and fixed income investments are
developed using a building-block approach, reflecting observable inflation information and interest rate information available in the fixed income markets. Long-term assumptions for other asset categories are based on historical results, current market characteristics and the professional judgment of our internal and external investment teams.
Assumed Health Care Cost Trend
The following summarizes the assumed health care cost trend rates.
 December 31,
 202520242023
Health care cost trend rate assumed for the following year:
Medical: Pre-657.80 %7.90 %7.70 %
Prescription drugs13.30 %12.50 %10.80 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate):
Medical: Pre-654.50 %4.50 %4.50 %
Prescription drugs4.50 %4.50 %4.50 %
Year that the rate reaches the ultimate trend rate:
Medical: Pre-65203520342032
Prescription drugs203520342032
Increases in the post-65 medical plan premium for the Marathon Petroleum Health Plan and the Marathon Petroleum Retiree Health Plan have been permanently eliminated.
Plan Investment Policies and Strategies
The investment policies for our pension plan assets reflect the funded status of the plans and expectations regarding our future ability to make further contributions. Long-term investment goals are to: (1) manage the assets in accordance with the legal requirements of all applicable laws; (2) diversify plan investments across asset classes to achieve an optimal balance between risk and return and between income and growth of assets through capital appreciation; and (3) source benefit payments primarily through existing plan assets and anticipated future returns.
The investment goals are implemented to manage the plans’ funded status volatility and minimize future cash contributions. The asset allocation strategy will change over time in response to changes primarily in funded status, which is dictated by current and anticipated market conditions, the independent actions of our investment committee, required cash flows to and from the plans and other factors deemed appropriate. Such changes in asset allocation are intended to allocate additional assets to the fixed income asset class should the funded status improve. The fixed income asset class shall be invested in such a manner that its interest rate sensitivity correlates highly with that of the plans’ liabilities. Other asset classes are intended to provide additional return with associated higher levels of risk. Investment performance and risk is measured and monitored on an ongoing basis through quarterly investment meetings and periodic asset and liability studies. At December 31, 2025, the primary plan’s targeted asset allocation was 50 percent equity, private equity, real estate, and timber securities and 50 percent fixed income securities.
Fair Value Measurements
Plan assets are measured at fair value. The following provides a description of the valuation techniques employed for each major plan asset category at December 31, 2025 and 2024.
Cash and cash equivalents
Cash and cash equivalents include a collective fund serving as the investment vehicle for the cash reserves and cash held by third-party investment managers. The collective fund is valued at net asset value (“NAV”) on a scheduled basis using a cost approach and is considered a Level 2 asset. Cash and cash equivalents held by third-party investment managers are valued using a cost approach and are considered Level 2.
Equity
Equity investments include common stock, mutual and pooled funds. Common stock investments are valued using a market approach, which are priced daily in active markets and are considered Level 1. Mutual and pooled equity funds are well diversified portfolios, representing a mix of strategies in domestic, international and emerging market strategies. Mutual funds are publicly registered, valued at NAV on a daily basis using a market approach and are considered Level 1 assets. Pooled funds are valued at NAV using a market approach and are considered Level 2.
Fixed Income
Fixed income investments include corporate bonds, U.S. dollar treasury bonds and municipal bonds. These securities are priced on observable inputs using a combination of market, income and cost approaches. These securities are considered Level 2 assets. Fixed income also includes a well-diversified bond portfolio structured as a pooled fund. This fund is valued at NAV on a daily basis using a market approach and is considered Level 2.
Private Equity
Private equity investments include interests in limited partnerships which are valued using information provided by external managers for each individual investment held in the fund. These holdings are considered Level 3.
Real Estate
Real estate investments consist of interests in limited partnerships. These holdings are either appraised or valued using the investment manager’s assessment of assets held. These holdings are considered Level 3.
Other
Other investments include two limited liability companies (“LLCs”) with no public market. The LLCs were formed to acquire timberland in the northwest U.S. These holdings are either appraised or valued using the investment manager’s assessment of assets held. These holdings are considered Level 3. Other investments classified as Level 2 include derivative transactions.
The following tables present the fair values of our defined benefit pension plans’ assets, by level within the fair value hierarchy, as of December 31, 2025 and 2024.
 December 31, 2025December 31, 2024
(Millions of dollars)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash and cash equivalents$— $74 $— $74 $— $62 $— $62 
Equity:
Common stocks53 — — 53 52 — — 52 
Mutual funds141 — — 141 125 — — 125 
Pooled funds— 953 — 953 — 871 — 871 
Fixed income:
Corporate— 675 — 675 — 637 — 637 
Government— 166 — 166 — 267 — 267 
Pooled funds— 124 — 124 — 117 — 117 
Exchange traded funds190 — — 190 — — — — 
Private equity— — 6 6 — — 9 9 
Real estate— — 9 9 — — 11 11 
Other— 8 — 8 — 7 — 7 
Total investments, at fair value$384 $2,000 $15 $2,399 $177 $1,961 $20 $2,158 
Cash Flows
Contributions to defined benefit plans
Our funding policy with respect to the funded pension plans is to contribute amounts necessary to satisfy minimum pension funding requirements, including requirements of the Pension Protection Act of 2006, plus such additional, discretionary, amounts from time to time as determined appropriate by management. In 2025, we made contributions totaling $191 million to our funded pension plans. For 2026, we estimate required funding of $263 million, but we may also make voluntary contributions to our funded pension plans at our discretion. Cash contributions to be paid from our general assets for the unfunded pension and postretirement plans are estimated to be approximately $10 million and $51 million, respectively, in 2026.
Estimated future benefit payments
The following gross benefit payments, which reflect expected future service, as appropriate, are expected to be paid in the years indicated.
(Millions of dollars)Pension BenefitsOther Benefits
2026$228 $51 
2027243 52 
2028250 53 
2029260 55 
2030266 55 
2031 through 20351,506 285 
Contributions to defined contribution plan
We also contribute to a defined contribution plan for eligible employees. Contributions to this plan totaled $192 million, $181 million and $176 million in 2025, 2024 and 2023, respectively.
Multiemployer Pension Plan
We contribute to one multiemployer defined benefit pension plan under the terms of a collective-bargaining agreement that covers some of our union-represented employees. The risks of participating in this multiemployer plan are different from single-employer plans in the following aspects:
•Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers.
•If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers.
•If we choose to stop participating in the multiemployer plan, we may be required to pay that plan an amount based on the underfunded status of the plan, referred to as a withdrawal liability.
Our participation in this plan for 2025, 2024 and 2023 is outlined in the table below. The “EIN” column provides the Employee Identification Number for the plan. The most recent Pension Protection Act zone status available in 2025 and 2024 is for the plan years ending on December 31, 2024 and December 31, 2023, respectively. The zone status is based on information that we received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded. The “FIP/RP Status Pending/Implemented” column indicates a financial improvement plan or a rehabilitation plan has been implemented. The last column lists the expiration date of the collective-bargaining agreement to which the plan is subject. There have been no significant changes that affect the comparability of 2025, 2024 and 2023 contributions. Our portion of the contributions does not make up more than five percent of total contributions to the plan.
  
Pension 
Protection
Act Zone 
Status
FIP/RP Status
Pending/Implemented
MPC Contributions 
(Millions of dollars)
Surcharge
Imposed
Expiration Date of
Collective – Bargaining
Agreement
Pension FundEIN20252024202520242023
Central States, Southeast and Southwest Areas Pension Plan(a)
366044243RedRedImplemented$4 $3 $5 NoJanuary 31, 2031
(a)    This agreement has a minimum contribution requirement of $561 per week per employee for 2026. A total of 254 employees participated in the plan as of December 31, 2025.

Multiemployer Health and Welfare Plan
We contribute to one multiemployer health and welfare plan that covers both active employees and retirees. Through the health and welfare plan, employees receive medical, dental, vision, prescription and disability coverage. Our contributions to this plan totaled $7 million, $5 million and $7 million for 2025, 2024 and 2023, respectively.
v3.25.4
Share-Based Compensation
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Share-Based Compensation
Description of the Incentive Plans
Our employees and non-employee directors are eligible to receive share, share-based and other types of awards under the Marathon Petroleum Corporation 2021 Incentive Compensation Plan (“MPC 2021 Plan”). The MPC 2021 Plan authorizes the Compensation and Organization Development Committee of our board of directors (“Committee”) to grant nonqualified or incentive stock options, stock appreciation rights, share and share-based awards (including restricted stock and restricted stock unit awards), cash awards and performance awards to our employees and non-employee directors. The maximum number of shares of our common stock available for awards under the MPC 2021 Plan is 20.5 million shares. The MPC 2021 Plan became effective upon shareholder approval on April 28, 2021. Prior to that date, our employees and non-employee directors were eligible to receive share, share-based and other types of awards under the Amended and Restated Marathon Petroleum Corporation 2012 Incentive Compensation Plan (“MPC 2012 Plan”), effective April 26, 2012, and prior to that date, the Marathon Petroleum Corporation 2011 Second Amended and Restated Incentive Compensation Plan (“MPC 2011 Plan”). Shares issued as a result of awards granted under these plans are funded through the issuance of new MPC common shares.
Share-Based Awards under the Plans
Stock Options
Prior to 2021, we granted stock options to certain officer and non-officer employees under the MPC 2011 Plan and the MPC 2012 Plan. Stock options represent the right to purchase shares of our common stock at an exercise price equal to the closing price of our common stock on the date of grant. Stock options generally vest over a service period of three years and expire ten years after the grant date. We expensed stock options based on the grant date fair value of the awards over the requisite service period, adjusted for estimated forfeitures. We used the Black Scholes option-pricing model to estimate the fair value of stock options granted, which requires the input of subjective assumptions.
Restricted Stock Units
We grant restricted stock unit awards to certain employees and to our non-employee directors. Vested restricted stock units are distributed in shares of MPC’s common stock on the dates specified in the awards. The number of restricted stock units granted pursuant to each award is determined by dividing the target value of the award by MPC’s common stock average 30-day closing price prior to the grant date. In general, restricted stock units granted to employees vest over a requisite service period of three years. Restricted stock units granted to non-employee directors prior to May 1, 2025 were considered to vest immediately at the time of the grant for accounting purposes, as they were non-forfeitable as of the grant date and distributed upon the director’s departure from the board of directors. Restricted stock units granted to non-employee directors after April 30, 2025 are fully earned at the grant date but are subject to proration if the director departs from the board of directors prior to the one-year anniversary of the grant date. These awards are considered to vest over the one-year service period for accounting purposes. For restricted stock units granted to a non-employee director after April 30, 2025, the director may elect to defer distributions until the director’s departure from the board of directors; if no deferral election is made the restricted stock units are distributed following the one-year anniversary of the grant date.
Restricted stock unit recipients do not have the right to vote any shares of stock and accrue dividend equivalents which when vested are payable on the dates specified in the awards. Accrued dividend equivalents on vested employee awards are paid in cash. Accrued dividend equivalents on vested non-employee director awards are settled in shares of MPC common stock. We expense restricted stock units based on the grant date fair value of the awards over the requisite service period, adjusted for estimated forfeitures. The fair values of restricted stock units are equal to the market price of our common stock on the grant date.
Performance Share Units
We grant performance share unit awards to certain officer and non-officer employees. At grant, a performance share unit has a target value equal to the MPC common stock average 30-day closing price prior to the grant date. The actual payout value of a performance share unit is based on company performance (which can range from 0 percent to 200 percent) for the three-year performance period beginning January 1 of the year of grant, multiplied by, for the awards granted in 2022, MPC’s closing share price on the date the Committee certifies performance; and for the awards granted in 2023, 2024 and 2025, MPC’s average closing share price for the final thirty calendar days at the end of the performance period. For awards granted in 2022 through 2024, and for two-thirds of the value of the awards granted in 2025 Company performance for purposes of payout will be determined by the relative ranking of the total shareholder return (“TSR”) of MPC common stock over the three-year performance period compared to the TSR of a select group of peer companies, the Standard & Poor’s 500 Index, the Alerian MLP Index, as well as the median of MPC’s compensation reference group applicable for the year the award is granted. For the remaining one-third of the value of the awards granted in 2025, Company performance for purposes of payout will be determined by MPC’s relative change in free cash flow (“FCF”) per share generated during the performance period compared to the FCF of a select group of peer companies. These awards settle 100 percent in cash and are accounted for as liability awards. We expense liability-classified performance share unit awards at fair value over the requisite service period, with mark-to-market adjustments made each quarter until payout occurs. The fair value of the TSR service condition is determined using a Monte Carlo valuation
model. The fair value of the FCF performance condition is valued using management’s current estimate of the most probable payout percentage.
Significant assumptions used in our Monte Carlo valuation models include: 1) risk free interest rate, for which we utilize the treasury rate for the time period closest to the remaining performance period of the award being valued; 2) look-back period (in years), for which we utilize the remaining performance period of the award being valued; and 3) expected volatility, for which we utilize the historical volatility of our own stock and the stock of our peer group for the look-back period previously discussed.
In general, performance share units granted to officers have a vesting service period beginning on the grant date and ending on the last day of the three-year performance period, and performance share units granted to employees outside of our senior management vest in one-third increments at the end of each calendar year of the performance period. However, certain employees are eligible to vest in some awards earlier, subject to reaching certain age and employment milestones, with payout still occurring at the end of the original performance period.
Total Share-Based Compensation Expense
The following table reflects activity related to our share-based compensation arrangements:
(Millions of dollars)202520242023
Share-based compensation expense$160 $137 $211 
Tax benefit recognized on share-based compensation expense38 33 51 
Cash received by MPC upon exercise of stock option awards24 25 62 
Tax benefit received for tax deductions for stock awards exercised6 28 49 
Stock Option Awards
The following is a summary of our common stock option activity in 2025: 
Number of SharesWeighted Average Exercise Price
Weighted Average Remaining Contractual Terms (in years)
Aggregate Intrinsic Value (Millions of dollars)
Outstanding at December 31, 2024506,060 $57.50 
Exercised(381,401)62.50 
Outstanding at December 31, 2025(a)
124,659 42.17 3.5$15 
(a)    All options outstanding at December 31, 2025 are fully vested and exercisable.
The intrinsic value of options exercised by MPC employees during 2025, 2024 and 2023 was $35 million, $75 million and $136 million, respectively.
As of December 31, 2025, there was no unrecognized compensation cost related to stock option awards.
Restricted Stock Unit Awards
The following is a summary of restricted stock unit award activity of our common stock in 2025:
 Restricted Stock Units
 Number of UnitsWeighted Average Grant Date Fair Value
Unvested at December 31, 20241,033,269 $142.08 
Granted564,679 159.47 
Vested(424,718)120.03 
Forfeited(62,801)152.07 
Unvested at December 31, 20251,110,429 158.79 
The following is a summary of the values related to restricted stock unit awards held by MPC employees and non-employee directors:
Restricted Stock Units
Intrinsic Value of Awards Vested During the Period (Millions of dollars)
Weighted Average Grant Date Fair Value of Awards Granted During the Period
2025$71 $159.47 
2024102 171.55 
2023144 133.94 
As of December 31, 2025, unrecognized compensation cost related to restricted stock unit awards was $98 million, which is expected to be recognized over a weighted average period of 1.9 years.
Performance Awards
The following is a summary of performance share unit awards activity in 2025:
Number of Performance Share Units
Unvested at December 31, 2024427,348 
Granted303,688 
Vested(271,706)
Forfeited(17,499)
Unvested at December 31, 2025441,831 
We paid $122 million, $169 million and $14 million during the years ended 2025, 2024 and 2023, respectively, to settle performance awards.
As of December 31, 2025, unrecognized compensation cost related to performance awards was $19 million, which is expected to be recognized over a weighted average period of 1.3 years. As of December 31, 2025, the total liability associated with performance awards was $151 million.
MPLX Awards
Compensation expense for awards of MPLX units are not material to our consolidated financial statements for 2025.
v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lessee, Operating Leases
Lessee
We lease a wide variety of facilities and equipment including land and building space, office and field equipment, storage facilities and transportation equipment. Our remaining lease terms range from less than one year to 93 years. Most long-term leases include renewal options ranging from one year to 40 years and, in certain leases, also include purchase options. The lease term included in the measurement of right of use assets and lease liabilities includes options to extend or terminate our leases that we are reasonably certain to exercise.
Under ASC 842, the components of lease cost are shown below. Lease costs for operating leases are recognized on a straight-line basis and are reflected in the income statement based on the leased asset’s use. Lease costs for finance leases are reflected in depreciation and amortization and in net interest and other financial costs.
(Millions of dollars)202520242023
Finance lease cost:
Amortization of right of use assets$102 $80 $73 
Interest on lease liabilities33 26 25 
Operating lease cost541 534 489 
Variable lease cost68 60 54 
Short-term lease cost964 952 881 
Total lease cost$1,708 $1,652 $1,522 
Supplemental consolidated balance sheet data related to leases were as follows:
December 31,
(Millions of dollars)20252024
Operating leases
Assets
Right of use assets$1,493 $1,300 
Liabilities
Operating lease liabilities$489 $417 
Long-term operating lease liabilities993 860 
Total operating lease liabilities$1,482 $1,277 
Weighted average remaining lease term (in years)44
Weighted average discount rate4.5 %4.4 %
Finance leases
Assets
Property, plant and equipment, gross$1,183 $1,118 
Less accumulated depreciation608 510 
Property, plant and equipment, net$575 $608 
Liabilities
Debt due within one year$105 $94 
Long-term debt590 630 
Total finance lease liabilities$695 $724 
Weighted average remaining lease term (in years)89
Weighted average discount rate4.8 %4.8 %
As of December 31, 2025, maturities of lease liabilities for operating lease obligations and finance lease obligations having initial or remaining non-cancellable lease terms in excess of one year are as follows:
(Millions of dollars)OperatingFinance
2026$544 $135 
2027397 123 
2028288 108 
2029172 90 
203098 79 
2031 and thereafter128 312 
Gross lease payments1,627 847 
Less: imputed interest145 152 
Total lease liabilities$1,482 $695 
Lessor, Operating Leases
Lessor
MPLX is considered to be the lessor under several operating lease agreements in accordance with GAAP related to certain fee-based natural gas transportation and processing agreements in the Marcellus and Southern Appalachia region. The primary terms of these agreements expire between 2026 and 2036; however, these contracts either have renewal options or will continue thereafter on a year-to-year basis until terminated by either party.
MPLX did not elect to use the practical expedient to combine lease and non-lease components for lessor arrangements. The tables below represent the portion of the contract allocated to the lease component based on relative standalone selling price. MPLX elected the practical expedient to carry forward historical classification conclusions until a modification of an existing agreement occurs. Once a modification occurs, the amended agreement is required to be assessed under ASC 842 to determine whether a reclassification of the lease is required.
Lease revenues are included in sales and other operating revenues on the consolidated statements of income. Lease revenues were as follows:
(Millions of dollars)202520242023
Operating leases:
Rental income$268 $260 $243 
Sales-type leases:
Interest income (Sales-type rental revenue-fixed minimum)113 114 114 
Interest income (Revenue from variable lease payments)38 22 22 
Sales-type lease revenue$151 $136 $136 
The following is a schedule of minimum future rentals on the non-cancelable operating leases as of December 31, 2025:
(Millions of dollars)
2026$111 
202786 
202878 
202977 
203063 
2031 and thereafter191 
Total minimum future rentals$606 
Annual minimum undiscounted lease payment receipts under our sales-type leases were as follows as of December 31, 2025:
(Millions of dollars)
2026$181 
2027163 
2028154 
2029146 
2030138 
2031 and thereafter903 
Total minimum future rentals1,685 
Less: imputed interest691 
Lease receivables(a)
$994 
Current lease receivables(b)
$108 
Long-term lease receivables(c)
886 
Unguaranteed residual assets117 
Total sales-type lease assets$1,111 
(a)    This amount does not include the unguaranteed residual assets.
(b)    Presented in receivables, net on the consolidated balance sheets.
(c)    Presented in other noncurrent assets on the consolidated balance sheets.
Capital expenditures related to assets subject to sales-type lease arrangements were $137 million, $69 million and $50 million for the year ended December 31, 2025, 2024 and 2023, respectively. These amounts are reflected as additions to property, plant and equipment in the consolidated statements of cash flows.
The following schedule summarizes our investment in assets held under operating lease by major classes as of December 31, 2025 and 2024:
December 31,
(Millions of dollars)20252024
Gathering and transportation$111 $86 
Processing and fractionation1,017 1,039 
Pipelines6 18 
Refining Logistics277 — 
Terminals1 129 
Land, building and other12 11 
Property, plant and equipment1,424 1,283 
Less accumulated depreciation567 458 
Total property, plant and equipment, net$857 $825 
v3.25.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
We are the subject of, or a party to, a number of pending or threatened legal actions, contingencies and commitments involving a variety of matters, including laws and regulations relating to the environment. Some of these matters are discussed below. For matters for which we have not recorded a liability, we are unable to estimate a range of possible loss because the issues involved have not been fully developed through pleadings, discovery or court proceedings. However, the ultimate resolution of some of these contingencies could, individually or in the aggregate, be material.
Environmental Matters
We are subject to federal, state, local and foreign laws and regulations relating to the environment. These laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites and certain other locations including presently or formerly owned or operated retail marketing sites. Penalties may be imposed for noncompliance.
At December 31, 2025 and 2024, accrued liabilities for remediation totaled $355 million and $364 million, respectively. It is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties, if any, that may be imposed. Receivables for recoverable costs from certain states, under programs to assist companies in clean-up efforts related to underground storage tanks at presently or formerly owned or operated retail marketing sites, were $4 million and $6 million at December 31, 2025 and 2024, respectively.
We are involved in a number of environmental enforcement matters arising in the ordinary course of business. While the outcome and impact on us cannot be predicted with certainty, management believes the resolution of these environmental matters will not, individually or collectively, have a material adverse effect on our consolidated results of operations, financial position or cash flows.
Climate Change Litigation
Governmental and other entities in various states have filed climate-related lawsuits against a number of energy companies, including MPC. Although each suit is separate and unique, the lawsuits generally allege defendants made knowing misrepresentations about knowingly concealing, or failing to warn of the impacts of their petroleum products, which led to increased demand and worsened climate change. Plaintiffs are seeking unspecified damages and abatement under various tort theories, as well as breaches of consumer protection and unfair trade statutes. We are currently subject to such proceedings in federal or state courts in Delaware, Maryland and Oregon. The pending cases are: Mayor and City Counsel of Baltimore, Maryland v. BP P.L.C., et al., (Md. Cir. Ct.) (date instituted July 20, 2018); Delaware ex rel. Jennings v. BP America Inc., et al., (Del. Super. Ct.) (date instituted September 10, 2020); City of Annapolis v. BP P.L.C., et al., (Md. Cir. Ct.) (date instituted February 22, 2021); Anne Arundel County, Maryland v. BP P.L.C. et al., (Md. Cir. Ct.), (date instituted April 26, 2021); County of Multnomah v. Exxon Mobil Corp., et al., (Or. Cir. Ct.) (date instituted June 22, 2023).
Similar lawsuits may be filed in other jurisdictions. At this stage in the litigation, the ultimate outcome of these matters remains uncertain, and neither the likelihood of an unfavorable outcome nor the ultimate liability, if any, can be determined.
Other Legal Proceedings
Tesoro High Plains Pipeline
In July 2020, Tesoro High Plains Pipeline Company, LLC (“THPP”), a subsidiary of MPLX, received a Notification of Trespass Determination from the Bureau of Indian Affairs (“BIA”) relating to a portion of the Tesoro High Plains Pipeline. The notification demanded the immediate cessation of pipeline operations and assessed trespass damages of approximately $187 million. After subsequent appeal proceedings and in compliance with a new order issued by the BIA, THPP paid approximately $4 million in assessed trespass damages and ceased use of the portion of the pipeline that crosses the property at issue. In March 2021, the BIA issued an order purporting to vacate the BIA's prior orders related to THPP’s alleged trespass and directed the Regional Director of the BIA to reconsider the issue of THPP’s alleged trespass and issue a new order. In April 2021, THPP filed a lawsuit in the District of North Dakota against the United States of America, the U.S. Department of the Interior and the BIA (collectively, the “U.S. Government Parties”) challenging the March 2021 order purporting to vacate all previous orders related to THPP’s alleged trespass. The case will proceed on the merits of THPP’s challenge to the March 2021 order purporting to vacate all previous orders related to THPP’s alleged trespass.
We are also a party to a number of other lawsuits and other proceedings arising in the ordinary course of business. While the ultimate outcome and impact to us cannot be predicted with certainty, we believe that the resolution of these other lawsuits and proceedings will not, individually or collectively, have a material adverse effect on our consolidated financial position, results of operations or cash flows.
Guarantees
We have provided certain guarantees, direct and indirect, of the indebtedness of other companies. Under the terms of most of these guarantee arrangements, we would be required to perform should the guaranteed party fail to fulfill its obligations under the specified arrangements. In addition to these financial guarantees, we also have various performance guarantees related to specific agreements.
Guarantees related to indebtedness of equity method investees
LOOP and LOCAP
MPC and MPLX hold interests in an offshore oil port, LOOP, and MPLX holds an interest in a crude oil pipeline system, LOCAP. Both LOOP and LOCAP have secured various project financings with throughput and deficiency agreements. Under the agreements, MPC, as a shipper, is required to advance funds if the investees are unable to service their debt. Any such advances are considered prepayments of future transportation charges. The duration of the agreements varies but tends to follow the terms of the underlying debt, which extend through 2040. Our maximum potential undiscounted payments under these agreements for the debt principal totaled $210 million as of December 31, 2025.
Dakota Access Pipeline
MPLX holds a 9.19 percent indirect interest in a joint venture (“Dakota Access”), which owns and operates the Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline projects (collectively, the “Bakken Pipeline system”). In 2020, the U.S. District Court for the District of Columbia (the “D.D.C.”) ordered the U.S. Army Corps of Engineers (“Army Corps”), which granted permits and an easement for the Bakken Pipeline system, to prepare an environmental impact statement (“EIS”) relating to an easement under Lake Oahe in North Dakota. The D.D.C. later vacated the easement. The Army Corps issued the final EIS in late 2025 and recommended the continued operation of the pipeline. The Army Corps may issue a Record of Decision now that the final EIS has been issued. New litigation may be filed now that the final EIS has been issued.
MPLX has entered into a Contingent Equity Contribution Agreement whereby it, along with the other joint venture owners in the Bakken Pipeline system, has agreed to make equity contributions to the joint venture upon certain events occurring, such as a vacatur of the easement resulting in a shutdown of the pipeline, to allow the entities that own and operate the Bakken Pipeline system to satisfy their senior note payment obligations.
If the vacatur of the easement results in a temporary shutdown of the pipeline, MPLX would have to contribute its 9.19 percent pro rata share of funds required to pay interest accruing on the notes and any portion of the principal that matures while the pipeline is shut down. MPLX also expects to contribute its 9.19 percent pro rata share of any costs to remediate any deficiencies to reinstate the easement and/or return the pipeline into operation. If the vacatur of the easement results in a permanent shutdown of the pipeline, MPLX would have to contribute its 9.19 percent pro rata share of the cost to redeem the bonds (including the 1 percent redemption premium required pursuant to the indenture governing the notes) and any accrued and unpaid interest. As of December 31, 2025, our maximum potential undiscounted payments under the Contingent Equity Contribution Agreement were approximately $78 million.
Other guarantees
We have entered into other guarantees with maximum potential undiscounted payments totaling $186 million as of December 31, 2025, which primarily consist of a commitment to indemnify a joint venture member for our pro rata share of any payments made under a performance guarantee for construction of a pipeline by an equity method investee, a commitment to contribute cash to an equity method investee for certain catastrophic events in lieu of procuring insurance coverage, a commitment to pay a
termination fee on a supply agreement if terminated during the initial term, a commitment to fund a share of the bonds issued by a government entity for construction of public utilities in the event that other industrial users of the facility default on their utility payments and leases of assets containing general lease indemnities and guaranteed residual values.
General guarantees associated with dispositions
Over the years, we have sold various assets in the normal course of our business. Certain of the related agreements contain performance and general guarantees, including guarantees regarding inaccuracies in representations, warranties, covenants and agreements, and environmental and general indemnifications that require us to perform upon the occurrence of a triggering event or condition. These guarantees and indemnifications are part of the normal course of selling assets. We are typically not able to calculate the maximum potential amount of future payments that could be made under such contractual provisions because of the variability inherent in the guarantees and indemnities. Most often, the nature of the guarantees and indemnities is such that there is no appropriate method for quantifying the exposure because the underlying triggering event has little or no past experience upon which a reasonable prediction of the outcome can be based.
Contractual Commitments and Contingencies
At December 31, 2025, our contractual commitments to acquire property, plant and equipment totaled $453 million. Our contractual commitments to acquire property, plant and equipment totaled $260 million at December 31, 2024.
Certain natural gas processing and gathering arrangements require us to construct natural gas processing plants, natural gas gathering pipelines and NGL pipelines and contain certain fees and charges if specified construction milestones are not achieved for reasons other than force majeure. In certain cases, certain producer customers may have the right to cancel the processing arrangements if there are significant delays that are not due to force majeure.
Asset Retirement Obligations
Our short-term asset retirement obligations were $37 million and $36 million at December 31, 2025 and 2024, respectively, and are included in other current liabilities in our consolidated balance sheets. Our long-term asset retirement obligations were $225 million and $210 million at December 31, 2025 and 2024, respectively, which are included in deferred credits and other liabilities in our consolidated balance sheets.
Marathon Oil indemnifications
The separation and distribution agreement and other agreements with Marathon Oil to effect our spinoff provide for cross-indemnities between Marathon Oil and us. In general, Marathon Oil and its successor, ConocoPhillips, is required to indemnify us for any liabilities relating to Marathon Oil’s historical oil and gas exploration and production operations, oil sands mining operations and integrated gas operations, and we are required to indemnify Marathon Oil and its successor, ConocoPhillips, for any liabilities relating to Marathon Oil’s historical refining, marketing and transportation operations. The terms of these indemnifications are indefinite and the amounts are not capped
v3.25.4
Subsequent Events
 12 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent EventOn February 12, 2026, MPLX issued $1.5 billion aggregate principal amount of senior notes in an underwritten public offering, consisting of $1.0 billion aggregate amount of 5.300 percent senior notes due April 2036 and $500 million aggregate principal amount of 6.100 percent senior notes due April 2056. MPLX intends to use the net proceeds from this offering to repay MPLX’s outstanding $1.5 billion aggregate principal amount of 1.750 percent senior notes due March 2026 at maturity. Pending final use, MPLX may invest the proceeds in short-term marketable securities or other investments
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
During the quarter ended December 31, 2025, no director or officer (as defined in Rule 16a-1(f) promulgated under the Exchange Act) of MPC adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement” (as each term is defined in Item 408 of Regulation S-K).
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Risk Management and Strategy
We have processes in place designed to protect our information systems, data, assets, infrastructure, and computing environments from cybersecurity threats and risks while maintaining confidentiality, integrity, and availability. These enterprise-wide processes are based upon policies, practices, and standards that guide us on identifying, assessing, and managing material risks from cybersecurity threats and include, but are not limited to:
•placing security limits on physical and network access to our information technology (“IT”) and operating technology (“OT”) systems;
•employing internal IT and OT controls designed to detect cybersecurity threats by collecting and analyzing data in our centralized cybersecurity operations center;
•utilizing layers of defensive methodologies designed to facilitate cyber resilience, minimize attack surfaces, and provide flexibility and scalability in our ability to address cybersecurity risks and threats;
•providing cybersecurity threat and awareness training to employees and contractors;
•limiting remote network access to our IT and OT network environments; and
•assessing our cybersecurity resiliency through various methods, including penetration testing, tabletop exercises with varying scenarios and participants ranging from individuals on our operations teams to executive leadership, and analyzing our corporate cybersecurity incident response plan.
We apply an enterprise risk management (“ERM”) methodology as established and led by our executive leadership team and overseen by our Board to identify, assess, and manage enterprise-level risks. Our cybersecurity risk program directly integrates and is intended to align with our governing ERM program.
We engage with external resources to contribute to and provide independent evaluation of our cybersecurity practices, including a periodic assessment of our cybersecurity program that is performed by a third party. Our cybersecurity leadership and operational teams monitor cybersecurity threat intelligence and applicable cybersecurity regulatory requirements in a variety of ways, including by communicating with federal agencies, trade associations, service providers, and other miscellaneous third-party resources. Our management team, through consultation with our Senior Vice President and Chief Digital Officer (“CDO”), Vice President and Chief Information Security Officer (“CISO”), and the Audit Committee of our Board, use the information gathered from these sources to inform long-term cybersecurity investments and strategies which seek to identify cybersecurity threats and protect against, detect, respond to, and recover from cybersecurity incidents.
The information systems, data, assets, infrastructure, and computing environments of our third-party service providers are also at risk of cybersecurity incidents. We manage third-party service provider cybersecurity risks through contract management, evaluation of applicable security control assessments, and third-party risk assessment processes.
As of February 26, 2026, we do not believe that any risks from cybersecurity threats, including as a result of past cybersecurity incidents, have had, or are reasonably likely to have, a material adverse effect on the company, including our business strategy, results of operations, or financial condition. However, there can be no assurance that our cybersecurity processes will prevent or mitigate cybersecurity incidents or threats and that efforts will always be successful. It is possible that cybersecurity incidents may occur and could have a material adverse effect on our business strategy, results of operations, or financial condition. See “Business and Operational Risks--We are increasingly dependent on the performance of our information technology systems and those of our third-party business partners and service providers” in Item 1A. Risk Factors of this Annual Report on Form 10-K.
Governance
Our full Board of Directors oversees enterprise-level risks and in conjunction with the Audit Committee of our Board oversees risks from cybersecurity threats as informed through the ERM program. Our CDO and CISO are standing members of the ERM committee, comprised of members of senior management, and as part of the committee, report on and evaluate cybersecurity threats and risk management efforts, as communicated to them by way of their direct reports and the larger cybersecurity team. The CDO and CISO are responsible for assessing and managing risks from cybersecurity threats. The CDO and CISO provide
regular cybersecurity briefings to the Board of Directors including the Audit Committee, with a minimum of two briefings per year and additional briefings as needed. The Audit Committee also has direct access to the CDO and CISO and their management teams for other updates on cybersecurity and information security strategy throughout the year. Additionally, the CDO and CISO, from time to time, meet with members of management to discuss cybersecurity risks, strategy and threats.
Our CISO is responsible for implementing the cybersecurity program which is comprised of Cybersecurity GRC (Governance, Risk & Compliance), Cybersecurity Architecture, Engineering & Operations, and a Cyber Fusion Center that includes Threat Intelligence, Vulnerability Management, & Incident Response. Our CISO has more than 30 years of experience in the oil and gas industry and has held various leadership and strategic roles related to information security and related technology, including collectively serving as a chief information security officer for seven years at two publicly traded companies. Our CISO also holds an Executive Master in Cybersecurity degree and a Master of Computer Science degree.
Our CISO works at the direction of the CDO, who has more than 20 years of executive IT leadership experience and leads the company’s Digital and Information Technology functions that seek to provide innovative, secure, and reliable technology products and services to MPC and its customers. Prior to joining MPC in 2021, our CDO was employed by GE and its subsidiary companies for over 20 years, holding several executive IT leadership roles with increasing responsibility. He was then named Senior Vice President and Chief Information Officer of Services for parent company GE in 2017 and was later named the Vice President and Chief Information Officer of GE Healthcare. Our CDO holds a Bachelor’s degree in Business Administration, Management and Information Systems.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] We apply an enterprise risk management (“ERM”) methodology as established and led by our executive leadership team and overseen by our Board to identify, assess, and manage enterprise-level risks. Our cybersecurity risk program directly integrates and is intended to align with our governing ERM program.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
Governance
Our full Board of Directors oversees enterprise-level risks and in conjunction with the Audit Committee of our Board oversees risks from cybersecurity threats as informed through the ERM program. Our CDO and CISO are standing members of the ERM committee, comprised of members of senior management, and as part of the committee, report on and evaluate cybersecurity threats and risk management efforts, as communicated to them by way of their direct reports and the larger cybersecurity team. The CDO and CISO are responsible for assessing and managing risks from cybersecurity threats. The CDO and CISO provide
regular cybersecurity briefings to the Board of Directors including the Audit Committee, with a minimum of two briefings per year and additional briefings as needed. The Audit Committee also has direct access to the CDO and CISO and their management teams for other updates on cybersecurity and information security strategy throughout the year. Additionally, the CDO and CISO, from time to time, meet with members of management to discuss cybersecurity risks, strategy and threats.
Our CISO is responsible for implementing the cybersecurity program which is comprised of Cybersecurity GRC (Governance, Risk & Compliance), Cybersecurity Architecture, Engineering & Operations, and a Cyber Fusion Center that includes Threat Intelligence, Vulnerability Management, & Incident Response. Our CISO has more than 30 years of experience in the oil and gas industry and has held various leadership and strategic roles related to information security and related technology, including collectively serving as a chief information security officer for seven years at two publicly traded companies. Our CISO also holds an Executive Master in Cybersecurity degree and a Master of Computer Science degree.
Our CISO works at the direction of the CDO, who has more than 20 years of executive IT leadership experience and leads the company’s Digital and Information Technology functions that seek to provide innovative, secure, and reliable technology products and services to MPC and its customers. Prior to joining MPC in 2021, our CDO was employed by GE and its subsidiary companies for over 20 years, holding several executive IT leadership roles with increasing responsibility. He was then named Senior Vice President and Chief Information Officer of Services for parent company GE in 2017 and was later named the Vice President and Chief Information Officer of GE Healthcare. Our CDO holds a Bachelor’s degree in Business Administration, Management and Information Systems.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] the Audit Committee of our Board oversees risks from cybersecurity threats as informed through the ERM program.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Our CDO and CISO are standing members of the ERM committee, comprised of members of senior management, and as part of the committee, report on and evaluate cybersecurity threats and risk management efforts, as communicated to them by way of their direct reports and the larger cybersecurity team. The CDO and CISO are responsible for assessing and managing risks from cybersecurity threats. The CDO and CISO provide
regular cybersecurity briefings to the Board of Directors including the Audit Committee, with a minimum of two briefings per year and additional briefings as needed. The Audit Committee also has direct access to the CDO and CISO and their management teams for other updates on cybersecurity and information security strategy throughout the year. Additionally, the CDO and CISO, from time to time, meet with members of management to discuss cybersecurity risks, strategy and threats.
Cybersecurity Risk Role of Management [Text Block] Our CISO is responsible for implementing the cybersecurity program which is comprised of Cybersecurity GRC (Governance, Risk & Compliance), Cybersecurity Architecture, Engineering & Operations, and a Cyber Fusion Center that includes Threat Intelligence, Vulnerability Management, & Incident Response.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our CISO is responsible for implementing the cybersecurity program
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our CISO has more than 30 years of experience in the oil and gas industry and has held various leadership and strategic roles related to information security and related technology, including collectively serving as a chief information security officer for seven years at two publicly traded companies. Our CISO also holds an Executive Master in Cybersecurity degree and a Master of Computer Science degree.Our CISO works at the direction of the CDO, who has more than 20 years of executive IT leadership experience and leads the company’s Digital and Information Technology functions that seek to provide innovative, secure, and reliable technology products and services to MPC and its customers. Prior to joining MPC in 2021, our CDO was employed by GE and its subsidiary companies for over 20 years, holding several executive IT leadership roles with increasing responsibility. He was then named Senior Vice President and Chief Information Officer of Services for parent company GE in 2017 and was later named the Vice President and Chief Information Officer of GE Healthcare. Our CDO holds a Bachelor’s degree in Business Administration, Management and Information Systems
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The CDO and CISO are responsible for assessing and managing risks from cybersecurity threats. The CDO and CISO provide
regular cybersecurity briefings to the Board of Directors including the Audit Committee, with a minimum of two briefings per year and additional briefings as needed. The Audit Committee also has direct access to the CDO and CISO and their management teams for other updates on cybersecurity and information security strategy throughout the year. Additionally, the CDO and CISO, from time to time, meet with members of management to discuss cybersecurity risks, strategy and threats.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Summary of Principal Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Principles applied in consolidation
Principles Applied in Consolidation
These consolidated financial statements include the accounts of our majority-owned, controlled subsidiaries and MPLX. As of December 31, 2025, we owned the general partner of MPLX and approximately 64 percent of the outstanding MPLX common units. Due to our ownership of the general partner interest, we have determined that we control MPLX and therefore we consolidate MPLX and record a noncontrolling interest for the interest owned by the public. Changes in ownership interest in consolidated subsidiaries that do not result in a change in control are recorded as equity transactions.
Investments in entities over which we have significant influence, but not control, are accounted for using the equity method of accounting. This includes entities in which we hold majority ownership but the minority shareholders have substantive participating rights. Income from equity method investments represents our proportionate share of net income generated by the equity method investees.
Differences in the basis of the investments and the separate net asset values of the investees, if any, are amortized into net income over the remaining useful lives of the underlying assets and liabilities, except for any excess related to goodwill. Equity method investments are evaluated for impairment whenever changes in the facts and circumstances indicate an other than temporary loss in value has occurred. When the loss is deemed to be other than temporary, the carrying value of the equity method investment is written down to fair value.
Use of estimates
Use of Estimates
The preparation of financial statements in accordance with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the respective reporting periods. Actual results could differ from those estimates.
Revenue recognition
Revenue Recognition
We recognize revenue based on consideration specified in contracts or agreements with customers when we satisfy our performance obligations by transferring control over products or services to a customer. We made an accounting policy election that all taxes assessed by a governmental authority that are both imposed on and concurrent with a revenue-producing transaction and collected from our customers will be recognized on a net basis within sales and other operating revenues.
Our revenue recognition patterns are described below by reportable segment:
•Refining & Marketing and Renewable Diesel - The vast majority of our Refining & Marketing and Renewable Diesel contracts contain pricing that is based on the market price for the product at the time of delivery. Our obligations to deliver product volumes are typically satisfied and revenue is recognized when control of the product transfers to our customers. Concurrent with the transfer of control, we typically receive the right to payment for the delivered product, the customer accepts the product and the customer has significant risks and rewards of ownership of the product. Payment terms require customers to pay shortly after delivery and do not contain significant financing components.
•Midstream - Midstream revenue transactions typically are defined by contracts under which we sell a product or provide a service. Revenues from sales of product are recognized when control of the product transfers to the customer.
Revenues from services are recognized over time when the performance obligation is satisfied as services are provided in a series. We have elected to use the output measure of progress to recognize revenue based on the units delivered, processed or transported. The transaction prices in our Midstream contracts often have both fixed components, related to minimum volume commitments, and variable components, which are primarily dependent on volumes. Variable consideration will generally not be estimated at contract inception as the transaction price is specifically allocable to the services provided at each period end.
Refer to Note 20 for disclosure of our revenue disaggregated by segment and product line and to Note 10 for a description of our reportable segment operations.
Crude oil and refined product exchanges and matching buy/sell transactions
Crude Oil and Refined Product Exchanges and Matching Buy/Sell Transactions
We enter into exchange contracts and matching buy/sell arrangements whereby we agree to deliver a particular quantity and quality of crude oil or refined products at a specified location and date to a particular counterparty and to receive from the same counterparty the same commodity at a specified location on the same or another specified date. The exchange receipts and deliveries are nonmonetary transactions, with the exception of associated grade or location differentials that are settled in cash. The matching buy/sell purchase and sale transactions are settled in cash. No revenues are recorded for exchange and matching buy/sell transactions as they are accounted for as exchanges of inventory. The exchange transactions are recognized at the carrying amount of the inventory transferred.
Cash and cash equivalents
Cash and Cash Equivalents
Cash and cash equivalents include cash on hand and on deposit and investments in highly liquid debt instruments with original maturities of three months or less.
Accounts receivable and allowance for expected credit loss
Accounts Receivable and Allowance for Expected Credit Loss
Our receivables primarily consist of customer accounts receivable. Customer receivables are recorded at the invoiced amounts and generally do not bear interest. Allowances for expected credit loss are generally recorded when it becomes probable the receivable will not be collected and are booked to bad debt expense. The allowance for expected credit loss is the best estimate of the amount of probable credit losses in customer accounts receivable. We review the allowance quarterly and past-due balances over 150 days are reviewed individually for collectability. 
We mitigate credit risk with master netting agreements with companies engaged in the crude oil or refinery feedstock trading and supply business or the petroleum refining industry. A master netting agreement generally provides for a once per month net cash settlement of the accounts receivable from and the accounts payable to a particular counterparty.
Lessee, Leases
Leases
Contracts with a term greater than one year that convey the right to direct the use of and obtain substantially all of the economic benefit of an asset are accounted for as right of use assets.
Right of use asset and lease liability balances are recorded at the commencement date at present value of the fixed lease payments using a secured incremental borrowing rate with a maturity similar to the lease term because our leases do not provide implicit rates. We have elected to include both lease and non-lease components in the present value of the lease payments for all lessee asset classes with the exception of our marine and third-party contractor service equipment leases. The lease component of the payment for the marine and equipment asset classes is determined using a relative standalone selling price. See Note 26 for additional disclosures about our lease contracts.
Lessor, Leases
As a lessor under ASU No. 2016-02, Leases (“ASC 842”), MPLX may be required to reclassify existing operating leases to sales-type leases upon modification and related reassessment of the leases. See Note 26 for further information regarding our ongoing evaluation of the impacts of lease reassessments as modifications occur. The net investment in sales-type leases is recorded within receivables, net and other noncurrent assets on the consolidated balance sheets. These amounts are comprised of the present value of the sum of the future minimum lease payments representing the value of the lease receivable and the unguaranteed residual value of the lease assets. Management assesses the net investment in sales-type leases for recoverability quarterly.
Inventories
Inventories
Inventories are carried at the lower of cost or market value. Cost of inventories is determined primarily under the LIFO method. Costs for crude oil and other feedstocks and refined product inventories are aggregated on a consolidated basis for purposes of assessing if the LIFO cost basis of these inventories may have to be written down to market value.
Fair Value
Fair Value
We account for certain assets and liabilities at fair value. The hierarchy below lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market. We categorize each of our fair value measurements in one of these three levels based on the lowest level input that is significant to the fair value measurement in its entirety. These levels are:
•Level 1 – inputs are based upon unadjusted quoted prices for identical instruments in active markets. Our Level 1 derivative assets and liabilities include exchange-traded contracts for crude oil and refined products measured at fair value with a market approach using the close-of-day settlement prices for the market. Commodity derivatives are covered under master netting agreements with an unconditional right to offset. Collateral deposits in futures commission merchant accounts covered by master netting agreements related to Level 1 commodity derivatives are classified as Level 1.
•Level 2 – inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs including interest rate curves, credit spreads, and forward and spot prices for currencies. Our Level 2 investments include commercial paper, certificates of deposit, time deposits and corporate notes and bonds. Our Level 2 derivative assets and liabilities primarily include certain OTC contracts.
•Level 3 – inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models. Our Level 3 assets and liabilities include goodwill, long-lived assets and intangible assets, when they are recorded at fair value due to an impairment charge and an embedded derivative liability relates to a natural gas purchase agreement embedded in a keep‑whole processing agreement. Unobservable inputs used in the models are significant to the fair values of the assets and liabilities.
Derivative instruments
Derivative Instruments
We use derivatives to economically hedge a portion of our exposure to commodity price risk and, historically, to interest rate risk. Our use of selective derivative instruments that assume market risk is limited. All derivative instruments (including derivative instruments embedded in other contracts) are recorded at fair value. Certain commodity derivatives are reflected on the consolidated balance sheets on a net basis by counterparty as they are governed by master netting agreements. Cash flows related to derivatives used to hedge commodity price risk and interest rate risk are classified in operating activities with the underlying transactions.
Derivatives not designated as accounting hedges
Derivatives that are not designated as accounting hedges may include commodity derivatives used to hedge price risk on (1) inventories, (2) fixed price sales of refined products, (3) the acquisition of foreign-sourced crude oil, (4) the acquisition of ethanol for blending with refined products, (5) the sale of NGLs, (6) the purchase of natural gas, (7) the purchase of soybean oil and (8) the sale of propane. Changes in the fair value of derivatives not designated as accounting hedges are recognized immediately in net income.
Concentrations of credit risk
All of our financial instruments, including derivatives, involve elements of credit and market risk. The most significant portion of our credit risk relates to nonperformance by counterparties. The counterparties to our financial instruments consist primarily of major financial institutions and companies within the energy industry. To manage counterparty risk associated with financial instruments, we select and monitor counterparties based on an assessment of their financial strength and on credit ratings, if available. Additionally, we limit the level of exposure with any single counterparty.
Concentration of credit risk
Concentrations of credit risk
All of our financial instruments, including derivatives, involve elements of credit and market risk. The most significant portion of our credit risk relates to nonperformance by counterparties. The counterparties to our financial instruments consist primarily of major financial institutions and companies within the energy industry. To manage counterparty risk associated with financial instruments, we select and monitor counterparties based on an assessment of their financial strength and on credit ratings, if available. Additionally, we limit the level of exposure with any single counterparty.
Consolidation, Variable Interest Entity, Policy
Variable Interest Entities
We evaluate all legal entities in which we hold an ownership or other pecuniary interest to determine if the entity is a VIE. Our interests in a VIE are referred to as variable interests. Variable interests can be contractual, ownership or other pecuniary interests in an entity that change with changes in the fair value of the VIE’s assets. When we conclude that we hold an interest in a VIE, we must determine if we are the entity’s primary beneficiary. A primary beneficiary is deemed to have a controlling financial interest in a VIE. This controlling financial interest is evidenced by both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses that could potentially be significant to the VIE or the right to receive benefits that could potentially be significant to the VIE. We consolidate any VIE when we determine that we are the primary beneficiary. We must disclose the nature of any interests in a VIE that is not consolidated.
Significant judgment is exercised in determining that a legal entity is a VIE and in evaluating our interest in a VIE. We use primarily a qualitative analysis to determine if an entity is a VIE. We evaluate the entity’s need for continuing financial support; the equity holder’s lack of a controlling financial interest; and/or if an equity holder’s voting interests are disproportionate to its obligation to absorb expected losses or receive residual returns. We evaluate our interests in a VIE to determine whether we are the primary beneficiary. We use a primarily qualitative analysis to determine if we are deemed to have a controlling financial interest in the VIE, either on a standalone basis or as part of a related party group. We continually monitor our interests in legal entities for changes in the design or activities of an entity and changes in our interests, including our status as the primary beneficiary to determine if the changes require us to revise our previous conclusions.
Changes in the design or nature of the activities of a VIE, or our involvement with a VIE, may require us to reconsider our conclusions on the entity’s status as a VIE and/or our status as the primary beneficiary. Such reconsideration requires significant
judgment and understanding of the organization. This could result in the deconsolidation or consolidation of the affected subsidiary, which would have a significant impact on our financial statements.
Variable Interest Entities are discussed in Note 6
Property, plant and equipment
Property, Plant and Equipment
Property, plant and equipment are recorded at cost and depreciated on a straight-line basis over the estimated useful lives of the assets, generally 10 to 40 years for refining and midstream assets, 25 years for office buildings and 4 to 7 years for other miscellaneous fixed assets. Such assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. If the sum of the expected undiscounted future cash flows from the use of the asset group and its eventual disposition is less than the carrying amount of the asset group, an impairment assessment is performed and the excess of the book value over the fair value of the asset group is recorded as an impairment loss.
When items of property, plant and equipment are sold or otherwise disposed of, any gains or losses are reported in net income. Gains on the disposal of property, plant and equipment are recognized when earned, which is generally at the time of closing. If a loss on disposal is expected, such losses are recognized when the assets are classified as held for sale.
Interest expense is capitalized for qualifying assets under construction. Capitalized interest costs are included in property, plant and equipment and are depreciated over the useful life of the related asset.
Goodwill and intangible assets
Goodwill and Intangible Assets
Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in the acquisition of a business. Goodwill is not amortized, but rather is tested for impairment at the reporting unit level annually and when events or changes in circumstances indicate that the fair value of a reporting unit with goodwill has been reduced below carrying value. If we determine, based on a qualitative assessment, that it is more likely than not that a reporting unit’s fair value exceeds its carrying amount, no further impairment testing is required. If we do not perform a qualitative assessment or if that assessment indicates that further impairment testing is required, the fair value of each reporting unit is determined using an income and/or market approach which is compared to the carrying value of the reporting unit. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss would be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. The fair value under the income approach is calculated using the expected present value of future cash flows method. Significant assumptions used in the cash flow forecasts include future volumes, discount rates, and future capital requirements.
Amortization of intangibles with definite lives is calculated using the straight-line method, which is reflective of the benefit pattern in which the estimated economic benefit is expected to be received over the estimated useful life of the intangible asset. Intangibles subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the intangible may not be recoverable. If the sum of the expected undiscounted future cash flows related to the asset is less than the carrying amount of the asset, an impairment loss is recognized based on the fair value of the asset. Intangibles not subject to amortization are tested for impairment annually and when circumstances indicate that the fair value is less than the carrying amount of the intangible. If the fair value is less than the carrying value, an impairment is recorded for the difference.
Major maintenance activities
Major Maintenance Activities
Costs for planned turnaround and other major maintenance activities are expensed in the period incurred. These types of costs include contractor repair services, materials and supplies, equipment rentals and our labor costs.
Environmental costs
Environmental Costs
Environmental expenditures for additional equipment that mitigates or prevents future contamination or improves environmental safety or efficiency of the existing assets are capitalized. We recognize remediation costs and penalties when the responsibility to remediate is probable and the amount of associated costs can be reasonably estimated. The timing of remediation accruals coincides with the completion of a feasibility study or the commitment to a formal plan of action. Remediation liabilities are accrued based on estimates of known environmental exposure and are discounted when the estimated amounts are reasonably fixed and determinable. If recoveries of remediation costs from third parties are probable, a receivable is recorded and is discounted when the estimated amount is reasonably fixed and determinable.
Asset retirement obligations
Asset Retirement Obligations
The fair value of asset retirement obligations is recognized in the period in which the obligations are incurred if a reasonable estimate of fair value can be made. The majority of our recognized asset retirement liability relates to conditional asset retirement obligations for removal and disposal of fire-retardant material from certain refining facilities. The remaining recognized asset retirement liability relates to other refining assets, certain pipelines and processing facilities and other related pipeline assets. The fair values recorded for such obligations are based on the most probable current cost projections.
Asset retirement obligations have not been recognized for some assets because the fair value cannot be reasonably estimated since the settlement dates of the obligations are indeterminate. Such obligations will be recognized in the period when sufficient information becomes available to estimate a range of potential settlement dates. The asset retirement obligations principally include the hazardous material disposal and removal or dismantlement requirements associated with the closure of certain refining, terminal, pipeline and processing assets.
Our practice is to keep our assets in good operating condition through routine repair and maintenance of component parts in the ordinary course of business and by continuing to make improvements based on technological advances. As a result, we believe that generally these assets have no expected settlement date for purposes of estimating asset retirement obligations since the dates or ranges of dates upon which we would retire these assets cannot be reasonably estimated at this time.
Income taxes
Income Taxes
Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of assets and liabilities and their tax bases. Deferred tax assets are recorded when it is more likely than not that they will be realized. The realization of deferred tax assets is assessed periodically based on several factors, primarily our expectation to generate sufficient future taxable income.
Stock-based compensation arrangements
Share-Based Compensation Arrangements
The fair value of stock options granted to our employees is estimated on the date of grant using the Black-Scholes option pricing model. The model employs various assumptions based on management’s estimates at the time of grant, which impact the calculation of fair value and ultimately, the amount of expense that is recognized over the vesting period of the stock option award. Of the required assumptions, the expected life of the stock option award and the expected volatility of our stock price have the most significant impact on the fair value calculation. The average expected life is based on our historical employee exercise behavior. The assumption for expected volatility of our stock price reflects a weighting of 50 percent of our common stock implied volatility and 50 percent of our common stock historical volatility.
The fair value of restricted stock awards granted to our employees is determined based on the fair market value of our common stock on the date of grant. The fair value of performance awards granted to our employees is determined using a Monte Carlo valuation model, which is updated quarterly, with appropriate mark-to-market adjustments made.
Our share-based compensation expense is recognized based on management’s estimate of the awards that are expected to vest, using the straight-line attribution method for all service-based awards with a graded vesting feature. Awards expected to vest are estimated using the historical data of our own employees. If actual forfeiture results are different than expected, adjustments to recognized compensation expense may be required in future periods. Unearned share-based compensation is charged to equity when restricted stock awards are granted. Compensation expense is recognized over the requisite service period and is adjusted if conditions of the restricted stock award are not met.
Business combinations
Business Combinations
We recognize and measure the assets acquired and liabilities assumed in a business combination based on their estimated fair values at the acquisition date. Any excess or deficiency of the purchase consideration when compared to the fair value of the net tangible assets acquired, if any, is recorded as goodwill or gain from a bargain purchase. For material acquisitions, management engages an independent valuation specialist to assist with the determination of fair value of the assets acquired, liabilities assumed, noncontrolling interest, if any, and goodwill, based on recognized business valuation methodologies. An income, market or cost valuation method may be utilized to estimate the fair value of the assets acquired, liabilities assumed, and noncontrolling interest, if any, in a business combination. The income valuation method represents the present value of future cash flows over the life of the asset using: (i) discrete financial forecasts, which rely on management’s estimates of revenue and operating expenses; (ii) long-term growth rates; and (iii) appropriate discount rates. The market valuation method uses prices paid for a reasonably similar asset by other purchasers in the market, with adjustments relating to any differences between the assets. The cost valuation method is based on the replacement cost of a comparable asset at prices at the time of the acquisition reduced for depreciation of the asset. If the initial accounting for the business combination is incomplete by the end of the reporting period in which the acquisition occurs, an estimate will be recorded. Subsequent to the acquisition date, and not later than one year from the acquisition date, we will record any material adjustments to the initial estimate based on new information obtained that would have existed as of the date of the acquisition. Any adjustment that arises from information obtained that did not exist as of the date of the acquisition will be recorded in the period of the adjustment. Acquisition-related costs are expensed as incurred in connection with each business combination.
Environmental credits and obligations
Environmental Credits and Obligations
In order to comply with certain regulations, specifically the RFS requirements implemented by the EPA and the cap-and-trade emission reduction program and low carbon fuel standard implemented by state programs, we are required to reduce our emissions, blend certain levels of biofuels or obtain allowances or credits to offset the obligations created by our operations. In regard to each program, we record an asset, included in other current assets or other noncurrent assets on the consolidated balance sheets, for allowances or credits owned in excess of our anticipated current period compliance requirements. The asset value is based on the product of the excess allowances or credits as of the balance sheet date, if any, and the weighted average cost of those allowances or credits. We record a liability, included in other current liabilities or deferred credits and other liabilities
on the consolidated balance sheets, when we are deficient allowances or credits based on the product of the deficient amount as of the balance sheet date, if any, and either the fixed contract price or the market price of the allowances or credits at the balance sheet date. The cost of allowances or credits used for compliance is reflected in cost of revenues on the consolidated statements of income. Any gains or losses on the sale or expiration of allowances or credits are classified as other income on the consolidated statements of income. Proceeds from the sale of allowances or credits are reported in investing activities - all other, net on the consolidated statements of cash flows.
v3.25.4
Master Limited Partnership (Tables)
 12 Months Ended
Dec. 31, 2025
Noncontrolling Interest [Line Items]  
Unit Repurchases
Total share repurchases were as follows for the respective periods:
(In millions, except per share data)202520242023
Number of shares repurchased21 53 89 
Cash paid for shares repurchased(a)
$3,399 $9,077 $11,572 
Average cost per share(b)
$163.64 $171.68 $131.27 
(a)    2025 excludes $89 million paid in 2025 for excise tax on 2024 share repurchases. 2024 excludes $112 million paid in 2024 for excise tax on 2023 share purchases.
(b)    The average cost per share includes excise tax on share repurchases resulting from the Inflation Reduction Act of 2022, but the excise tax does not reduce the remaining share repurchase authorization.
Noncontrolling Interest
As a result of equity transactions of MPLX, we are required to adjust non-controlling interest and additional paid-in capital. Changes in MPC’s additional paid-in capital resulting from changes in its ownership interest in MPLX were as follows:
(Millions of dollars)202520242023
Increase (decrease) due to change in ownership$(88)$159 $(4)
Tax impact74 (55)— 
Increase (decrease) in MPC's additional paid-in capital, net of tax$(14)$104 $(4)
MPLX  
Noncontrolling Interest [Line Items]  
Unit Repurchases
Total unit repurchases were as follows for the respective periods:
(In millions, except per unit data)202520242023
Number of common units repurchased8 8 — 
Cash paid for common units repurchased$400 $326 $— 
Average cost per unit$51.58 $43.04 $— 
v3.25.4
Acquisitions and Other Transactions (Tables)
 12 Months Ended
Dec. 31, 2025
Northwind Midstream Acquisition  
Business Combination [Line Items]  
Business Combination, Recognized Asset Acquired and Liability Assumed The following table reflects our preliminary allocation of the $2.4 billion purchase price to the Northwind Midstream assets and liabilities, as well as measurement period adjustments since the acquisition date:
As originally reportedAdjustmentsAs adjusted
(In millions)
Cash and cash equivalents$17 $— $17 
Receivables11 — 11 
Other current assets1 — 1 
Property, plant and equipment1,182 (13)1,169 
Intangibles951 — 951 
Other noncurrent assets2 — 2 
Total assets acquired2,164 (13)2,151 
Liabilities assumed:
Accounts payable105 10 115 
Other current liabilities1 — 1 
Long-term operating lease liabilities1 — 1 
Total liabilities assumed107 10 117 
Total identifiable net assets2,057 (23)2,034 
Goodwill356 23 379 
Fair value of net assets acquired$2,413 $— $2,413 
BANGL, LLC Acquisition  
Business Combination [Line Items]  
Business Combination, Recognized Asset Acquired and Liability Assumed The following table reflects our preliminary determination of the fair value of the BANGL assets and liabilities:
(In millions)July 1,
2025
Assets acquired:
Cash and cash equivalents$18 
Other current assets4 
Property, plant and equipment1,550 
Intangibles77 
Other noncurrent assets22 
Total assets acquired1,671 
Liabilities assumed:
Long-term debt due within one year46 
Other current liabilities42 
Long-term debt610 
Other long-term liabilities1 
Total liabilities assumed699 
Total identifiable net assets972 
Goodwill731 
Fair value of net assets acquired$1,703 
Schedule of Business Combination, Consideration
The following table summarizes the purchase price consideration in connection with the BANGL Acquisition:
(In millions)
Total cash paid$703 
Fair value of contingent consideration as of acquisition date234 
Total consideration937 
Fair value of previously held equity interest766 
Fair value of net assets acquired$1,703 
v3.25.4
Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Summarized Balance Sheet Information of VIEs
The following table presents balance sheet information for the assets and liabilities of MPLX, which are included in our consolidated balance sheets.
(Millions of dollars)December 31,
2025		December 31,
2024
Assets
Cash and cash equivalents$2,137 $1,519 
Receivables, less allowance for expected credit loss746 731 
Inventories172 180 
Other current assets51 29 
Equity method investments4,798 4,531 
Property, plant and equipment, net21,698 19,154 
Goodwill8,755 7,645 
Intangibles, net1,397 518 
Right of use assets, net276 273 
Other noncurrent assets1,126 995 
Liabilities
Accounts payable$865 $719 
Accrued taxes93 82 
Debt due within one year1,502 1,693 
Operating lease liabilities53 45 
Other current liabilities403 370 
Long-term debt24,151 19,255 
Deferred income taxes25 18 
Long-term operating lease liabilities217 217 
Deferred credits and other liabilities474 445 
v3.25.4
Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
Transactions with related parties were as follows:
(Millions of dollars)202520242023
Sales to related parties$1,572 $1,053 $915 
Purchases from related parties2,891 2,437 1,818 
v3.25.4
Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Summary of Earnings Per Common Share
We compute basic earnings per share by dividing net income attributable to MPC less income allocated to participating securities by the weighted average number of shares of common stock outstanding. Since MPC has granted certain incentive compensation awards to employees and non-employee directors that are considered to be participating securities, we have calculated our earnings per share using the two-class method. Diluted income per share assumes exercise of certain share-based compensation awards, provided the effect is not anti-dilutive.
(In millions, except per share data)202520242023
Basic earnings per share:
Allocation of earnings
Net income attributable to MPC$4,047 $3,445 $9,681 
Income allocated to participating securities(4)(3)(7)
Redemption of preferred units— — (2)
Income available to common stockholders - basic$4,043 $3,442 $9,672 
Weighted average common shares outstanding305 340 407 
Basic earnings per share$13.24 $10.11 $23.73 
Diluted earnings per share:
Allocation of earnings
Net income attributable to MPC$4,047 $3,445 $9,681 
Income allocated to participating securities(4)(3)(7)
Redemption of preferred units— — (2)
Income available to common stockholders - diluted4,043 3,442 9,672 
Weighted average common shares outstanding305 340 407 
Effect of dilutive securities1 1 2 
Weighted average common shares, including dilutive effect306 341 409 
Diluted earnings per share$13.22 $10.08 $23.63 
Potential common shares which were anti-dilutive and, therefore, omitted from the diluted share calculation, were immaterial for all periods.
v3.25.4
Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Share Repurchases
Total share repurchases were as follows for the respective periods:
(In millions, except per share data)202520242023
Number of shares repurchased21 53 89 
Cash paid for shares repurchased(a)
$3,399 $9,077 $11,572 
Average cost per share(b)
$163.64 $171.68 $131.27 
(a)    2025 excludes $89 million paid in 2025 for excise tax on 2024 share repurchases. 2024 excludes $112 million paid in 2024 for excise tax on 2023 share purchases.
(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.
v3.25.4
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Adjusted EBITDA
(Millions of dollars)202520242023
Segment adjusted EBITDA for reportable segments
Refining & Marketing6,138 $5,703 $13,705 
Midstream6,750 6,544 6,171 
Renewable Diesel(110)(150)(64)
Total reportable segments$12,778 $12,097 $19,812 
Reconciliation of segment adjusted EBITDA for reportable segments to income before income taxes
Total reportable segments$12,778 $12,097 $19,812 
Corporate(822)(774)(737)
Refining & Renewable Diesel planned turnaround costs(1,553)(1,404)(1,201)
Renewable Diesel JV planned turnaround costs(a)
(18)(9)(25)
Garyville incident response costs— — (16)
LIFO inventory adjustment72 161 (145)
Gain on sale of assets(b)
897 151 198 
SRE57 — — 
Transaction-related costs(c)
(33)— — 
Legal settlements253 — — 
Depreciation and amortization(3,251)(3,337)(3,307)
Renewable Diesel JV depreciation and amortization(a)
(89)(89)(65)
Net interest and other financial costs(1,276)(839)(525)
Income before income taxes$7,015 $5,957 $13,989 
(a)    Represents MPC’s pro-rata share of expenses from joint ventures included within the Renewable Diesel segment.
(b)    2025 includes gains from the BANGL Acquisition, the sale of MPC’s interest in TAMH and the Rockies divestiture. 2024 includes the gain from the Whistler Joint Venture Transaction. 2023 includes the gain associated with the remeasurement of MPLX’s existing equity investment in MarkWest Torñado GP, L.L.C., arising from the acquisition of the remaining 40 percent interest and the gain on the sale of our interest in South Texas Gateway Terminal LLC. See Note 5 for additional information.
(c)    Transaction-related costs include costs associated with the Northwind Midstream Acquisition, the BANGL Acquisition and the Rockies divestiture discussed in Note 5.
Reconciliation of Revenue from Segments to Consolidated
(Millions of dollars)202520242023
Sales and other operating revenues
Refining & Marketing
Revenues from external customers(a)
$124,252 $131,588 $141,835 
Intersegment revenues60 175 139 
Refining & Marketing segment revenues124,312 131,763 141,974 
Midstream
Revenues from external customers(a)
5,628 5,197 4,911 
Intersegment revenues5,906 5,797 5,597 
Midstream segment revenues11,534 10,994 10,508 
Renewable Diesel
Revenues from external customers(a)
2,814 2,079 1,633 
Intersegment revenues16 25 31 
Renewable Diesel segment revenues2,830 2,104 1,664 
Total segment revenues138,676 144,861 154,146 
Plus: other revenue5 — — 
Less: intersegment revenues5,982 5,997 5,767 
Consolidated sales and other operating revenues(a)
$132,699 $138,864 $148,379 
(a)    Includes sales to related parties. See Note 7 for additional information. See Note 20 for the disaggregation of our revenue from external customers by segment and product line.
Other Significant Reconciling Items from Segments to Consolidated
(Millions of dollars)202520242023
Income from equity method investments
Refining & Marketing$9 $57 $66 
Midstream793 770 735 
Renewable Diesel82 70 (59)
Total segment income from equity method investments884 897 742 
Corporate(a)
738 151 — 
Consolidated income from equity method investments$1,622 $1,048 $742 
(a)    2025 includes gains from the BANGL Acquisition and the sale of MPC’s interest in TAMH. 2024 represents the gain from the Whistler Joint Venture Transaction. See Note 5 for additional information.
(Millions of dollars)202520242023
Segment expenses
Refining & Marketing
Cost of purchases$104,308 $112,938 $115,973 
Refining operating costs6,097 5,712 5,625 
Distribution costs6,185 5,857 5,645 
Other segment items(a)
1,593 1,610 1,092 
Refining & Marketing segment expenses$118,183 $126,117 $128,335 
Midstream
Other segment items(b)
5,577 5,220 5,072 
Midstream segment expenses$5,577 $5,220 $5,072 
Renewable Diesel
Operating costs274 269 242 
Distribution costs101 95 82 
Other segment items(c)
2,647 1,960 1,345 
Renewable Diesel segment expenses$3,022 $2,324 $1,669 
(a)    Other segment items for the Refining & Marketing segment include costs that are reimbursed by customers through commercial arrangements, as well as LIFO inventory adjustments.
(b)    Other segment items for the Midstream segment include operating expenses and purchased product costs. For purposes of managing Midstream segment of MPC, the CODM is only provided consolidated Midstream expense information.
(c)    Other segment items for the Renewable Diesel segment include purchased product costs.

(Millions of dollars)202520242023
Depreciation and amortization
Refining & Marketing$1,627 $1,767 $1,822 
Midstream1,450 1,405 1,320 
Renewable Diesel(a)
69 75 65 
Total segment depreciation and amortization3,146 3,247 3,207 
Corporate105 90 100 
Consolidated depreciation and amortization$3,251 $3,337 $3,307 
(a)    Excludes our pro-rata share of Renewable Diesel JV depreciation and amortization of $89 million, $89 million and $65 million in 2025, 2024 and 2023, respectively, which was adjusted for purposes of arriving at Renewable Diesel segment adjusted EBITDA.
(Millions of dollars)202520242023
Capital expenditures
Refining & Marketing$1,580 $1,445 $998 
Midstream2,975 1,504 1,105 
Renewable Diesel19 8 313 
Total segment capital expenditures and investments4,574 2,957 2,416 
Less investments in equity method investees1,064 509 480 
Plus:
Corporate25 63 83 
Capitalized interest94 56 55 
Consolidated capital expenditures(a)
$3,629 $2,567 $2,074 
(a)    Includes changes in capital expenditure accruals. See Note 21 for a reconciliation of total capital expenditures to additions to property, plant and equipment as reported in the consolidated statements of cash flows.
v3.25.4
Net Interest and Other Financial Costs (Tables)
 12 Months Ended
Dec. 31, 2025
Other Income and Expenses [Abstract]  
Net Interest And Other Financial Income (Costs)
Net interest and other financial costs were as follows:
(Millions of dollars)202520242023
Interest income$(159)$(376)$(530)
Interest expense1,489 1,365 1,325 
Interest capitalized(100)(57)(60)
Pension and other postretirement non-service costs(a)
23 (38)(89)
Investments - net premium (discount) amortization— (91)(142)
Other financial costs23 36 21 
Net interest and other financial costs$1,276 $839 $525 
(a)    See Note 24.
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Components Of Income Tax Provisions (Benefits)
(Millions of dollars)202520242023
Income (loss) from operations before income taxes:
Domestic$6,958 $5,964 $13,875 
Foreign57 (7)114 
Total$7,015 $5,957 $13,989 
Provision (benefit) for income taxes:
Current:
Federal$706 $862 $2,359 
State and local129 144 475 
Foreign20 8 11 
Total current855 1,014 2,845 
Deferred:
Federal255 (90)18 
State and local25 (33)(46)
Foreign2 (1)— 
Total deferred282 (124)(28)
Total$1,137 $890 $2,817 
Reconciliation Of Federal Statutory Income Tax Rate
A reconciliation of the federal statutory income tax rate to the effective tax rate applied to income from before income taxes follows:
202520242023
(Millions of dollars)Amount%Amount%Amount%
Federal statutory rate $1,473 21.0 %$1,251 21.0 %$2,937 21.0 %
State and local income taxes, net of federal income tax effects(a)
128 1.8 91 1.5 338 2.4 
Nontaxable or nondeductible items:
Noncontrolling interests(385)(5.5)(341)(5.7)(314)(2.2)
Other24 0.3 (44)(0.8)(30)(0.3)
Tax credits(84)(1.2)(42)(0.7)— — 
Other adjustments(19)(0.2)(25)(0.4)(114)(0.8)
Effective tax rate applied to income before income taxes$1,137 16.2 %$890 14.9 %$2,817 20.1 %
(a)    State taxes in California, Texas and Kentucky make up the majority of the tax effect of this category.
Components Of Deferred Tax Assets And Liabilities
Deferred tax assets and liabilities resulted from the following:
December 31,
(Millions of dollars)20252024
Deferred tax assets:
Employee benefits$560 $558 
Environmental remediation80 81 
Finance lease obligations409 433 
Operating lease liabilities314 243 
Net operating loss carryforwards32 39 
Tax credit carryforwards20 22 
Goodwill and other intangibles84 75 
Other115 95 
Total deferred tax assets1,614 1,546 
Valuation allowance(9)(51)
Total net deferred tax assets1,605 1,495 
Deferred tax liabilities:
Property, plant and equipment2,441 2,584 
Inventories845 672 
Investments in subsidiaries and affiliates3,957 3,742 
Right of use assets324 246 
Other19 20 
Total deferred tax liabilities7,586 7,264 
Net deferred tax liabilities$5,981 $5,769 
Net deferred tax liabilities were classified in the consolidated balance sheets as follows:
December 31,
(Millions of dollars)20252024
Assets:
Other noncurrent assets$3 $2 
Liabilities:
Deferred income taxes5,984 5,771 
Net deferred tax liabilities$5,981 $5,769 
Summary Of Activity In Unrecognized Tax Benefits
The following table summarizes the activity in unrecognized tax benefits:
(Millions of dollars)202520242023
January 1 balance$27 $38 $57 
Additions for tax positions of current year80 — — 
Additions for tax positions of prior years65 — 8 
Reductions for tax positions of prior years(7)(5)(6)
Settlements(2)(6)(20)
Statute of limitations— — (1)
December 31 balance$163 $27 $38 
v3.25.4
Inventories (Tables)
 12 Months Ended
Dec. 31, 2025
Inventory Disclosure [Abstract]  
Summary Of Inventories
December 31,
(Millions of dollars)20252024
Crude oil and other feedstocks$3,272 $3,185 
Refined products5,350 5,137 
Materials and supplies1,507 1,246 
Total$10,129 $9,568 
v3.25.4
Equity Method Investments (Tables)
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Schedule Of Equity Method Investments
Ownership as ofCarrying value at
December 31,December 31,
(In millions of dollars, except ownership percentages)VIE202520252024
Refining & Marketing
TAMH(a)
—%$— $190 
LF Bioenergy Holdings LLC
50%98 92 
Refining & Marketing Total$98 $282 
Midstream
MPLX
BANGL(b)
$— $281 
Illinois Extension Pipeline Company, L.L.C.35%208 218 
LOOP LLC41%313 310 
MarEn Bakken Company LLC25%502 526 
MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C.X67%407 329 
MarkWest Utica EMG, L.L.C.X61%890 742 
Ohio Gathering Co, LLCX32%444 470 
Sherwood Midstream LLCX50%475 488 
Texas City Logistics LLCX50%163 — 
WPC Parent, LLC30%273 208 
Other(c)
X1,123 959 
MPLX Total$4,798 $4,531 
MPC-Retained
Capline Pipeline Company LLC33%$365 $382 
Gray Oak Pipeline, LLC25%268 274 
Other(c)
X113 114 
MPC-Retained Total$746 $770 
Midstream Total$5,544 $5,301 
Renewable Diesel
Martinez Renewables LLCX50%$1,065 $1,184 
Other(c)
X88 90 
Renewable Diesel Total$1,153 $1,274 
Total$6,795 $6,857 
(a)    In July 2025, we sold our interest in TAMH, as discussed in Note 5.
(b)    In July 2025, MPLX purchased the remaining interest in BANGL, increasing MPLX’s ownership to 100 percent. See Note 5 for additional information.
(c)     Some investments included within “Other” have been deemed to be VIEs.
Investment Company, Nonconsolidated Subsidiary, Summarized Financial Information
Summarized financial information for all equity method investments in affiliated companies, combined, was as follows:
(Millions of dollars)202520242023
Income statement data:
Revenues and other income$10,223 $9,259 $6,544 
Income from operations2,713 2,698 2,428 
Net income2,368 2,211 2,089 
Balance sheet data – December 31:
Current assets$2,246 $2,687 
Noncurrent assets26,310 24,656 
Current liabilities2,176 1,927 
Noncurrent liabilities8,050 7,837 
v3.25.4
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Summary Of Property, Plant And Equipment
December 31, 2025December 31, 2024
(Millions of dollars)Gross
PP&E		Accumulated DepreciationNet
PP&E		Gross
PP&E		Accumulated DepreciationNet
PP&E
Refining & Marketing$34,372 $20,462 $13,910 $32,965 $19,015 $13,950 
Midstream34,057 11,690 22,367 30,697 10,798 19,899 
Renewable Diesel970 396 574 976 338 638 
Corporate1,610 1,064 546 1,679 1,138 541 
Total(a)
$71,009 $33,612 $37,397 $66,317 $31,289 $35,028 
(a)    Includes finance leases. See Note 26.
v3.25.4
Goodwill and Intangibles (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Goodwill
The changes in the carrying amount of goodwill for 2025 were as follows:
(Millions of dollars)Refining & MarketingMidstreamTotal
Balance as of December 31, 2023$561 $7,683 $8,244 
Impairment losses— — — 
Balance as of December 31, 2024561 7,683 8,244 
Acquisitions— 1,110 1,110 
Impairment losses— — — 
Balance as of December 31, 2025$561 $8,793 $9,354 
Gross goodwill as of December 31, 2025$6,141 $11,934 $18,075 
Accumulated impairment losses(5,580)(3,141)(8,721)
Balance as of December 31, 2025$561 $8,793 $9,354 
Schedule of Acquired Finite-Lived Intangible Assets by Major Class
Our definite lived intangible assets as of December 31, 2025 and 2024 are as shown below.
December 31, 2025December 31, 2024
(Millions of dollars)GrossAccumulated AmortizationNetGrossAccumulated AmortizationNet
Customer contracts and relationships$5,245 $2,623 $2,622 $4,111 $2,446 $1,665 
Brand rights and tradenames100 100 — 101 89 12 
Royalty agreements142 126 16 141 120 21 
Other38 33 5 36 31 5 
Total$5,525 $2,882 $2,643 $4,389 $2,686 $1,703 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense Estimated future amortization expense for the next five years related to the intangible assets at December 31, 2025 is as follows:
(Millions of dollars)
2026$283 
2027254 
2028238 
202991 
203091 
v3.25.4
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Assets and Liabilities Accounted for at Fair Value on Recurring Basis
The following tables present assets and liabilities accounted for at fair value on a recurring basis as of December 31, 2025 and 2024 by fair value hierarchy level. We have elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty, including any related cash collateral as shown below; however, fair value amounts by hierarchy level are presented on a gross basis in the following tables.
December 31, 2025
Fair Value Hierarchy
(Millions of dollars)Level 1Level 2Level 3
Netting and Collateral(a)
Net Carrying Value on Balance Sheet(b)
Collateral Pledged Not Offset
Assets:
Commodity contracts$243 $— $— $(226)$17 $10 
Liabilities:
Commodity contracts$236 $— $— $(236)$— $— 
Embedded derivatives in commodity contracts— — 41 — 41 — 
Contingent consideration, liability— — 236 — 236 — 
December 31, 2024
Fair Value Hierarchy
(Millions of dollars)Level 1Level 2Level 3
Netting and Collateral(a)
Net Carrying Value on Balance Sheet(b)
Collateral Pledged Not Offset
Assets:
Commodity contracts$139 $— $— $(132)$7 $16 
Liabilities:
Commodity contracts$144 $— $— $(144)$— $— 
Embedded derivatives in commodity contracts— — 58 — 58 — 
(a)    Represents the impact of netting assets, liabilities and cash collateral when a legal right of offset exists. As of December 31, 2025, cash collateral of $10 million was netted with mark-to-market derivative liabilities. As of December 31, 2024, cash collateral of $12 million was netted with mark-to-market derivative liabilities.
(b)    We have no derivative contracts which are subject to master netting arrangements reflected gross on the balance sheet.
Reconciliation of Net Beginning and Ending Balances Recorded for Net Assets and Liabilities Classified as Level 3
The following is a reconciliation of the beginning and ending balances recorded for net liabilities classified as Level 3 in the fair value hierarchy.
(Millions of dollars)20252024
Beginning balance$58 $61 
Contingent consideration(a)
234 — 
Unrealized and realized (gain) loss included in net income(b)
(5)10 
Settlements of derivative instruments(10)(13)
Ending balance$277 $58 
The amount of total (gain) loss for the period included in earnings attributable to the change in unrealized loss relating to liabilities still held at the end of period(b):
$(7)$7 
(a)    Liability recorded in the third quarter of 2025 related to the BANGL Acquisition earnout provision.
(b)    The gain/loss is included in cost of revenues on the consolidated statements of income.
v3.25.4
Derivatives (Tables)
 12 Months Ended
Dec. 31, 2025
Summary of Derivative Instruments [Abstract]  
Classification of Fair Values of Derivative Instruments, Excluding Cash Collateral
The following table presents the fair value of derivative instruments as of December 31, 2025 and 2024 and the line items in the consolidated balance sheets in which the fair values are reflected. The fair value amounts below are presented on a gross basis and do not reflect the netting of asset and liability positions permitted under the terms of our master netting arrangements including cash collateral on deposit with, or received from, brokers. We offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of offset exists. As a result, the asset and liability amounts below will not agree with the amounts presented in our consolidated balance sheets.
(Millions of dollars)December 31, 2025December 31, 2024
Balance Sheet LocationAssetLiabilityAssetLiability
Commodity derivatives
Other current assets$243 $236 $139 $144 
Other current liabilities(a)
— 6 — 10 
Deferred credits and other liabilities(a)
— 35 — 48 
(a)    Includes embedded derivatives.
Schedule of Notional Amounts of Outstanding Derivative Positions
The table below summarizes open commodity derivative contracts for crude oil, refined products, blending products and soybean oil as of December 31, 2025. 
Percentage of contracts that expire next quarterPosition
(Units in thousands of barrels)LongShort
Exchange-traded(a)
Crude oil56.1%40,038 41,459 
Refined products80.8%37,457 39,082 
Blending products91.6%7,225 6,502 
Soybean oil94.9%1,171 1,422 
(a)    Included in exchange-traded are spread contracts in thousands of barrels: Crude oil - 3,600 long and 2,970 short; Refined products - 3,156 long and 3,041 short; Blending products - 173 long. There are no spread contracts for Soybean oil.
Effect of Commodity Derivative Instruments in Statements of Income
The following table summarizes the effect of all commodity derivative instruments in our consolidated statements of income:
(Millions of dollars)Gain (Loss)
Income Statement Location202520242023
Sales and other operating revenues$— $1 $7 
Cost of revenues(25)(94)(15)
Other income1 2 2 
Total$(24)$(91)$(6)
v3.25.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Instrument [Line Items]  
Outstanding Borrowings
Our outstanding borrowings at December 31, 2025 and 2024 consisted of the following:
(Millions of dollars)December 31,
2025		December 31,
2024
Marathon Petroleum Corporation:
Senior notes$6,449 $5,699 
MARAD debt161 174 
Finance lease obligations689 718 
Total7,299 6,591 
MPLX LP:
Senior notes26,000 21,200 
Finance lease obligations6 6 
Total26,006 21,206 
Total debt33,305 27,797 
Unamortized debt issuance costs(204)(142)
Unamortized discount, net of unamortized premium(225)(174)
Amounts due within one year(2,371)(3,049)
Total long-term debt due after one year$30,505 $24,432 
Schedule Of Debt Payments
Principal maturities of long-term debt, excluding finance lease obligations, as of December 31, 2025 for the next five years are as follows:
(Millions of dollars)
2026$2,263 
20272,014 
20281,764 
2029764 
20302,614 
Schedule of Line of Credit Facilities
(Millions of dollars)Total
Capacity		Outstanding
Borrowings		Outstanding
Letters
of Credit		Available
Capacity		Weighted
Average
Interest
Rate		Expiration
MPC, excluding MPLX
MPC bank revolving credit facility$5,000 $— $1 $4,999 — July 2027
MPC trade receivables securitization facility(a)
100 — — 100 — September 2027
MPLX
MPLX bank revolving credit facility2,000 — — 2,000 — July 2027
(a)    The committed borrowing and letter of credit issuance capacity under the trade receivables securitization facility is $100 million. In addition, the facility allows for the issuance of letters of credit in excess of the committed capacity at the discretion of the issuing banks.
Marathon Petroleum Corporation | Senior Notes  
Debt Instrument [Line Items]  
Outstanding Borrowings
MPC Senior Notes
 December 31,
(Millions of dollars)20252024
Senior notes, 4.700% due May 2025$— $1,250 
Senior notes, 5.125% due December 2026719 719 
Senior notes, 3.800% due April 2028496 496 
Senior notes, 5.150% due March 20301,100 — 
Senior notes, 5.700% due March 2035900 — 
Senior notes, 6.500% due March 20411,250 1,250 
Senior notes, 4.750% due September 2044800 800 
Senior notes, 5.850% due December 2045250 250 
Senior notes, 4.500% due April 2048498 498 
Andeavor senior notes, 3.800% - 5.125% due 2026 – 204836 36 
Senior notes, 5.000%, due September 2054400 400 
Total$6,449 $5,699 
Marathon Petroleum Corporation | Bonds  
Debt Instrument [Line Items]  
Outstanding Borrowings
MARAD Debt
 December 31,
(Millions of dollars)20252024
Bonds, 3.432% due August 2036$51 $55 
Bonds, 3.477% due January 203753 57 
Bonds, 3.609% due January 203857 62 
Total$161 $174 
MPLX | Senior Notes  
Debt Instrument [Line Items]  
Outstanding Borrowings
 December 31,
(Millions of dollars)20252024
Senior notes, 4.000% due February 2025$— $500 
Senior notes, 4.875% due June 2025— 1,189 
MarkWest senior notes, 4.875% due 2025— 11 
Senior notes, 1.750% due March 20261,500 1,500 
Senior notes, 4.125% due March 20271,250 1,250 
Senior notes, 4.250% due December 2027732 732 
Senior notes, 4.000% due March 20281,250 1,250 
Senior notes, 4.800% due February 2029750 750 
Senior notes, 2.650% due August 20301,500 1,500 
Senior notes, 4.800% due February 20311,250 — 
Senior notes, 4.950% due September 20321,000 1,000 
Senior notes, 5.000% due January 2033750 — 
Senior notes, 5.000% due March 20331,100 1,100 
Senior notes, 5.500% due June 20341,650 1,650 
Senior notes, 5.400% due April 20351,000 — 
Senior notes, 5.400% due September 20351,500 — 
Senior notes, 4.500% due April 20381,750 1,750 
Senior notes, 5.200% due March 20471,000 1,000 
Senior notes, 5.200% due December 2047487 487 
ANDX senior notes, 4.250% - 5.200% due 2027 – 204731 31 
Senior notes, 4.700% due April 20481,500 1,500 
Senior notes, 5.500% due February 20491,500 1,500 
Senior notes, 4.950% due March 20521,500 1,500 
Senior notes, 5.650% due March 2053500 500 
Senior notes, 5.950% due April 20551,000 — 
Senior notes, 6.200% due September 20551,000 — 
Senior notes, 4.900% due April 2058500 500 
Total$26,000 $21,200 
v3.25.4
Revenue (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table presents our revenues from external customers disaggregated by segment and product line:
(Millions of dollars)202520242023
Refining & Marketing
Refined products$116,504 $122,429 $132,675 
Crude oil5,817 7,298 7,423 
Services and other1,931 1,861 1,737 
Total revenues from external customers124,252 131,588 141,835 
Midstream
Refined products2,022 1,668 1,675 
Services and other(a)
3,606 3,529 3,236 
Total revenues from external customers5,628 5,197 4,911 
Renewable Diesel
Refined products2,799 2,073 1,628 
Services and other15 6 5 
Total revenues from external customers2,814 2,079 1,633 
Other service revenue5 — — 
Sales and other operating revenues$132,699 $138,864 $148,379 
(a)    Includes sales-type lease revenue. See Note 26.
v3.25.4
Supplemental Cash Flow Information (Tables)
 12 Months Ended
Dec. 31, 2025
Supplemental Cash Flow Information [Abstract]  
Summary of Supplemental Cash Flow Information
(Millions of dollars)202520242023
Net cash provided by operating activities included:
Interest paid (net of amounts capitalized)$1,219 $1,247 $1,200 
Income taxes paid to taxing authorities
Federal(a)
333 635 2,321 
State and local:
California22 45 98 
Other33 46 327 
Foreign18 6 5 
Total406 732 2,751 
Cash paid for amounts included in the measurement of lease liabilities
Payments on operating leases530 532 493 
Interest payments under finance lease obligations33 25 25 
Net cash provided by financing activities included:
Principal payments under finance lease obligations108 82 79 
Non-cash investing and financing activities:
Right of use assets obtained in exchange for new operating lease obligations724 637 465 
Right of use assets obtained in exchange for new finance lease obligations85 302 21 
Contribution of assets(b)
115 — — 
Book value of equity method investment(c)
282 50 311 
Contingent consideration(d)
234 — — 
(a)    Includes $332 million and $565 million in 2025 and 2024, respectively, paid to third parties and related parties for transferable tax credits. The 2025 total includes $221 million paid to Martinez Renewables LLC.
(b)    Represents the book value of assets contributed by MPLX to a JV.
(c)    2025 and 2023 represents the book value of MPLX’s equity method investment in BANGL and Torñado, respectively, prior to MPLX buying out the remaining interest in these entities. 2024 represents the book value of Coastal Holdings prior to MPC buying out the remaining 50 percent interest from our joint venture partner. See Note 5 for additional information.
(d)    See Note 5 - BANGL, LLC Acquisitions
Schedule Of Reconciliation Of Additions To Property Plant And Equipment To Total Capital Expenditures
The consolidated statements of cash flows exclude changes to the consolidated balance sheets that did not affect cash. The following is a reconciliation of additions to property, plant and equipment to total capital expenditures:
(Millions of dollars)202520242023
Additions to property, plant and equipment per the consolidated statements of cash flows$3,486 $2,533 $1,890 
Increase in capital accruals143 34 184 
Total capital expenditures$3,629 $2,567 $2,074 
v3.25.4
Other Current Liabilities (Tables)
 12 Months Ended
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]  
Other Current Liabilities
The following summarizes the components of other current liabilities:
December 31,
(Millions of dollars)20252024
Environmental credits liability$463 $422 
Accrued interest payable449 314 
Other current liabilities341 419 
Total other current liabilities$1,253 $1,155 
v3.25.4
Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Changes in Accumulated Other Comprehensive Loss by Component
The following table shows the changes in accumulated other comprehensive income (loss) by component. Amounts in parentheses indicate debits.
(Millions of dollars)Pension BenefitsOther BenefitsOtherTotal
Balance as of December 31, 2022$(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 effect13 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 effect6 5 — 11 
Other comprehensive income (loss)26 (7)(2)17 
Balance as of December 31, 2024(235)122 (1)(114)
Other comprehensive income (loss) before reclassifications, net of tax of $5
19 (1)(1)17 
Amounts reclassified from accumulated other comprehensive loss:
Amortization of prior service credit(a)
(9)(22)— (31)
Amortization of actuarial loss(a)
17 — — 17 
Settlement loss(a)
2 — — 2 
Other— — 1 1 
Tax effect(3)6 — 3 
Other comprehensive income (loss)26 (17)— 9 
Balance as of December 31, 2025$(209)$105 $(1)$(105)
(a)    These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost. See Note 24.
v3.25.4
Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2025
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Defined Contribution Plan Disclosures
(Millions of dollars)202520242023
Cash balance weighted average interest crediting rates4.19 %4.56 %3.57 %
Summary Of Projected Benefit Obligations And Funded Status For Defined Benefit Pension And Other Postretirement Plans
The following summarizes the projected benefit obligations and funded status for our defined benefit pension and other postretirement plans:
 Pension BenefitsOther Benefits
(Millions of dollars)2025202420252024
Benefit obligations at January 1$2,685 $2,563 $669 $679 
Service cost220 219 20 21 
Interest cost144 122 35 32 
Actuarial (gain) loss109 (32)4 (14)
Benefits paid(226)(187)(50)(49)
Benefit obligations at December 312,932 2,685 678 669 
Fair value of plan assets at January 12,158 2,082 — — 
Actual return on plan assets267 161 — — 
Employer contributions200 102 50 49 
Benefits paid from plan assets(226)(187)(50)(49)
Fair value of plan assets at December 312,399 2,158 — — 
Funded status at December 31$(533)$(527)$(678)$(669)
Schedule of Amounts Recognized in Balance Sheet
Amounts recognized in the consolidated balance sheet for our pension and other postretirement benefit plans at December 31 include:
 Pension BenefitsOther Benefits
(Millions of dollars)2025202420252024
Noncurrent assets$23 $22 $— $— 
Current liabilities(10)(11)(51)(50)
Noncurrent liabilities(546)(538)(627)(619)
Accrued benefit cost$(533)$(527)$(678)$(669)
Schedule of Net Periodic Benefit Cost Not yet Recognized
Included in accumulated other comprehensive loss at December 31 were the following before-tax amounts that had not been recognized in net periodic benefit cost:
 Pension BenefitsOther Benefits
(Millions of dollars)2025202420252024
Net actuarial loss$367 $404 $40 $36 
Prior service credit(27)(36)(159)(181)
Amounts exclude those related to LOOP and Explorer, equity method investees with defined benefit pension and postretirement plans for which net losses (gains) of less than $1 million and $7 million were recorded in accumulated other comprehensive income (loss) in 2025, reflecting our ownership share.
Components of Net Periodic Benefit Costs
The following summarizes the net periodic benefit costs and the amounts recognized as other comprehensive loss (pretax) for our defined benefit pension and other postretirement plans.
 Pension BenefitsOther Benefits
(Millions of dollars)202520242023202520242023
Service cost$224 $227 $201 $20 $21 $18 
Interest cost144 122 116 35 32 31 
Expected return on plan assets(144)(146)(163)— — — 
Amortization of prior service credit(9)(33)(45)(22)(22)(22)
Amortization of actuarial (gain) loss17 6 (5)— — — 
Settlement (gain) loss2 3 (1)— — — 
Net periodic benefit cost(a)
$234 $179 $103 $33 $31 $27 
Actuarial (gain) loss$(18)$(54)$75 $4 $(15)$31 
Amortization of actuarial gain (loss)(19)(9)6 — — — 
Amortization of prior service credit9 33 45 22 22 22 
Total recognized in other comprehensive (income) loss$(28)$(30)$126 $26 $7 $53 
Total recognized in net periodic benefit cost and other comprehensive loss$206 $149 $229 $59 $38 $80 
(a)    Net periodic benefit cost reflects a calculated market-related value of plan assets which recognizes changes in fair value over three years.
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Loss (Pretax)
The following summarizes the net periodic benefit costs and the amounts recognized as other comprehensive loss (pretax) for our defined benefit pension and other postretirement plans.
 Pension BenefitsOther Benefits
(Millions of dollars)202520242023202520242023
Service cost$224 $227 $201 $20 $21 $18 
Interest cost144 122 116 35 32 31 
Expected return on plan assets(144)(146)(163)— — — 
Amortization of prior service credit(9)(33)(45)(22)(22)(22)
Amortization of actuarial (gain) loss17 6 (5)— — — 
Settlement (gain) loss2 3 (1)— — — 
Net periodic benefit cost(a)
$234 $179 $103 $33 $31 $27 
Actuarial (gain) loss$(18)$(54)$75 $4 $(15)$31 
Amortization of actuarial gain (loss)(19)(9)6 — — — 
Amortization of prior service credit9 33 45 22 22 22 
Total recognized in other comprehensive (income) loss$(28)$(30)$126 $26 $7 $53 
Total recognized in net periodic benefit cost and other comprehensive loss$206 $149 $229 $59 $38 $80 
(a)    Net periodic benefit cost reflects a calculated market-related value of plan assets which recognizes changes in fair value over three years.
Plan Assumptions
The following summarizes the assumptions used to determine the benefit obligations at December 31, and net periodic benefit cost for the defined benefit pension and other postretirement plans for 2025, 2024 and 2023.
Pension BenefitsOther Benefits
 202520242023202520242023
Benefit obligation:
Discount rate5.25 %5.55 %4.85 %5.40 %5.58 %4.88 %
Rate of compensation increase3.83 %4.18 %4.18 %3.83 %4.18 %4.18 %
Net periodic benefit cost:
Discount rate5.53 %4.85 %5.10 %5.58 %4.88 %5.08 %
Expected long-term return on plan assets7.10 %6.80 %7.00 %— %— %— %
Rate of compensation increase3.83 %4.18 %4.18 %3.83 %4.18 %4.18 %
Assumed Health Care Cost Trend Rates
The following summarizes the assumed health care cost trend rates.
 December 31,
 202520242023
Health care cost trend rate assumed for the following year:
Medical: Pre-657.80 %7.90 %7.70 %
Prescription drugs13.30 %12.50 %10.80 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate):
Medical: Pre-654.50 %4.50 %4.50 %
Prescription drugs4.50 %4.50 %4.50 %
Year that the rate reaches the ultimate trend rate:
Medical: Pre-65203520342032
Prescription drugs203520342032
Fair Values Of Defined Benefit Pension Plan Assets
The following tables present the fair values of our defined benefit pension plans’ assets, by level within the fair value hierarchy, as of December 31, 2025 and 2024.
 December 31, 2025December 31, 2024
(Millions of dollars)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash and cash equivalents$— $74 $— $74 $— $62 $— $62 
Equity:
Common stocks53 — — 53 52 — — 52 
Mutual funds141 — — 141 125 — — 125 
Pooled funds— 953 — 953 — 871 — 871 
Fixed income:
Corporate— 675 — 675 — 637 — 637 
Government— 166 — 166 — 267 — 267 
Pooled funds— 124 — 124 — 117 — 117 
Exchange traded funds190 — — 190 — — — — 
Private equity— — 6 6 — — 9 9 
Real estate— — 9 9 — — 11 11 
Other— 8 — 8 — 7 — 7 
Total investments, at fair value$384 $2,000 $15 $2,399 $177 $1,961 $20 $2,158 
Estimated Future Benefit Payment
The following gross benefit payments, which reflect expected future service, as appropriate, are expected to be paid in the years indicated.
(Millions of dollars)Pension BenefitsOther Benefits
2026$228 $51 
2027243 52 
2028250 53 
2029260 55 
2030266 55 
2031 through 20351,506 285 
Multiemployer Plan
Our participation in this plan for 2025, 2024 and 2023 is outlined in the table below. The “EIN” column provides the Employee Identification Number for the plan. The most recent Pension Protection Act zone status available in 2025 and 2024 is for the plan years ending on December 31, 2024 and December 31, 2023, respectively. The zone status is based on information that we received from the plan and is certified by the plan’s actuary. Among other factors, plans in the red zone are generally less than 65 percent funded. The “FIP/RP Status Pending/Implemented” column indicates a financial improvement plan or a rehabilitation plan has been implemented. The last column lists the expiration date of the collective-bargaining agreement to which the plan is subject. There have been no significant changes that affect the comparability of 2025, 2024 and 2023 contributions. Our portion of the contributions does not make up more than five percent of total contributions to the plan.
  
Pension 
Protection
Act Zone 
Status
FIP/RP Status
Pending/Implemented
MPC Contributions 
(Millions of dollars)
Surcharge
Imposed
Expiration Date of
Collective – Bargaining
Agreement
Pension FundEIN20252024202520242023
Central States, Southeast and Southwest Areas Pension Plan(a)
366044243RedRedImplemented$4 $3 $5 NoJanuary 31, 2031
(a)    This agreement has a minimum contribution requirement of $561 per week per employee for 2026. A total of 254 employees participated in the plan as of December 31, 2025.
v3.25.4
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The following table reflects activity related to our share-based compensation arrangements:
(Millions of dollars)202520242023
Share-based compensation expense$160 $137 $211 
Tax benefit recognized on share-based compensation expense38 33 51 
Cash received by MPC upon exercise of stock option awards24 25 62 
Tax benefit received for tax deductions for stock awards exercised6 28 49 
Summary of Stock Option Award Activity
The following is a summary of our common stock option activity in 2025: 
Number of SharesWeighted Average Exercise Price
Weighted Average Remaining Contractual Terms (in years)
Aggregate Intrinsic Value (Millions of dollars)
Outstanding at December 31, 2024506,060 $57.50 
Exercised(381,401)62.50 
Outstanding at December 31, 2025(a)
124,659 42.17 3.5$15 
(a)    All options outstanding at December 31, 2025 are fully vested and exercisable.
Summary of Restricted Stock Award Activity
The following is a summary of restricted stock unit award activity of our common stock in 2025:
 Restricted Stock Units
 Number of UnitsWeighted Average Grant Date Fair Value
Unvested at December 31, 20241,033,269 $142.08 
Granted564,679 159.47 
Vested(424,718)120.03 
Forfeited(62,801)152.07 
Unvested at December 31, 20251,110,429 158.79 
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity, Vested And Unvested
The following is a summary of the values related to restricted stock unit awards held by MPC employees and non-employee directors:
Restricted Stock Units
Intrinsic Value of Awards Vested During the Period (Millions of dollars)
Weighted Average Grant Date Fair Value of Awards Granted During the Period
2025$71 $159.47 
2024102 171.55 
2023144 133.94 
Share-Based Payment Arrangement, Performance Shares, Activity
The following is a summary of performance share unit awards activity in 2025:
Number of Performance Share Units
Unvested at December 31, 2024427,348 
Granted303,688 
Vested(271,706)
Forfeited(17,499)
Unvested at December 31, 2025441,831 
v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lease, Cost
Under ASC 842, the components of lease cost are shown below. Lease costs for operating leases are recognized on a straight-line basis and are reflected in the income statement based on the leased asset’s use. Lease costs for finance leases are reflected in depreciation and amortization and in net interest and other financial costs.
(Millions of dollars)202520242023
Finance lease cost:
Amortization of right of use assets$102 $80 $73 
Interest on lease liabilities33 26 25 
Operating lease cost541 534 489 
Variable lease cost68 60 54 
Short-term lease cost964 952 881 
Total lease cost$1,708 $1,652 $1,522 
Assets and Liabilities Lessee
Supplemental consolidated balance sheet data related to leases were as follows:
December 31,
(Millions of dollars)20252024
Operating leases
Assets
Right of use assets$1,493 $1,300 
Liabilities
Operating lease liabilities$489 $417 
Long-term operating lease liabilities993 860 
Total operating lease liabilities$1,482 $1,277 
Weighted average remaining lease term (in years)44
Weighted average discount rate4.5 %4.4 %
Finance leases
Assets
Property, plant and equipment, gross$1,183 $1,118 
Less accumulated depreciation608 510 
Property, plant and equipment, net$575 $608 
Liabilities
Debt due within one year$105 $94 
Long-term debt590 630 
Total finance lease liabilities$695 $724 
Weighted average remaining lease term (in years)89
Weighted average discount rate4.8 %4.8 %
Operating & Finance Leases, Liability, Maturity
As of December 31, 2025, maturities of lease liabilities for operating lease obligations and finance lease obligations having initial or remaining non-cancellable lease terms in excess of one year are as follows:
(Millions of dollars)OperatingFinance
2026$544 $135 
2027397 123 
2028288 108 
2029172 90 
203098 79 
2031 and thereafter128 312 
Gross lease payments1,627 847 
Less: imputed interest145 152 
Total lease liabilities$1,482 $695 
Operating Lease, Lease Income
Lease revenues are included in sales and other operating revenues on the consolidated statements of income. Lease revenues were as follows:
(Millions of dollars)202520242023
Operating leases:
Rental income$268 $260 $243 
Sales-type leases:
Interest income (Sales-type rental revenue-fixed minimum)113 114 114 
Interest income (Revenue from variable lease payments)38 22 22 
Sales-type lease revenue$151 $136 $136 
Sales-type Lease, Lease Income
Lease revenues are included in sales and other operating revenues on the consolidated statements of income. Lease revenues were as follows:
(Millions of dollars)202520242023
Operating leases:
Rental income$268 $260 $243 
Sales-type leases:
Interest income (Sales-type rental revenue-fixed minimum)113 114 114 
Interest income (Revenue from variable lease payments)38 22 22 
Sales-type lease revenue$151 $136 $136 
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity
The following is a schedule of minimum future rentals on the non-cancelable operating leases as of December 31, 2025:
(Millions of dollars)
2026$111 
202786 
202878 
202977 
203063 
2031 and thereafter191 
Total minimum future rentals$606 
Sales-type and Direct Financing Leases, Lease Receivable, Maturity
Annual minimum undiscounted lease payment receipts under our sales-type leases were as follows as of December 31, 2025:
(Millions of dollars)
2026$181 
2027163 
2028154 
2029146 
2030138 
2031 and thereafter903 
Total minimum future rentals1,685 
Less: imputed interest691 
Lease receivables(a)
$994 
Current lease receivables(b)
$108 
Long-term lease receivables(c)
886 
Unguaranteed residual assets117 
Total sales-type lease assets$1,111 
(a)    This amount does not include the unguaranteed residual assets.
(b)    Presented in receivables, net on the consolidated balance sheets.
(c)    Presented in other noncurrent assets on the consolidated balance sheets.
Capital expenditures related to assets subject to sales-type lease arrangements were $137 million, $69 million and $50 million for the year ended December 31, 2025, 2024 and 2023, respectively. These amounts are reflected as additions to property, plant and equipment in the consolidated statements of cash flows.
Schedule of Property Subject to or Available for Operating Lease
The following schedule summarizes our investment in assets held under operating lease by major classes as of December 31, 2025 and 2024:
December 31,
(Millions of dollars)20252024
Gathering and transportation$111 $86 
Processing and fractionation1,017 1,039 
Pipelines6 18 
Refining Logistics277 — 
Terminals1 129 
Land, building and other12 11 
Property, plant and equipment1,424 1,283 
Less accumulated depreciation567 458 
Total property, plant and equipment, net$857 $825 
v3.25.4
Summary of Principal Accounting Policies (Principal Accounting Policies) (Details)
Dec. 31, 2025
Refining and midstream assets | Minimum  
Estimated useful lives (in years) 10 years
Refining and midstream assets | Maximum  
Estimated useful lives (in years) 40 years
Office building  
Estimated useful lives (in years) 25 years
Other miscellaneous fixed assets | Minimum  
Estimated useful lives (in years) 4 years
Other miscellaneous fixed assets | Maximum  
Estimated useful lives (in years) 7 years
MPC | MPLX  
MPC's partnership interest in MLPs (in percentage) 64.00%
v3.25.4
Master Limited Partnership (Details)
Dec. 31, 2025
MPC | MPLX  
Noncontrolling Interest [Line Items]  
MPC's partnership interest in MLPs (in percentage) 64.00%
v3.25.4
Master Limited Partnership (Unit Repurchase Program) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Aug. 05, 2025
Aug. 02, 2022
Noncontrolling Interest [Line Items]      
Stock repurchase program, authorized amount $ 60,050    
Stock repurchase plan remaining authorized amount 4,380    
MPLX      
Noncontrolling Interest [Line Items]      
Stock repurchase plan remaining authorized amount $ 1,120    
MPLX | Share Repurchase Authorization August 2022      
Noncontrolling Interest [Line Items]      
Stock repurchase program, authorized amount     $ 1,000
MPLX | Share Repurchase Authorization August 2025      
Noncontrolling Interest [Line Items]      
Stock repurchase program, authorized amount   $ 1,000  
v3.25.4
Master Limited Partnership (Unit Repurchases) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Noncontrolling Interest [Line Items]      
Average cost per unit $ 163.64 $ 171.68 $ 131.27
MPLX      
Noncontrolling Interest [Line Items]      
Number of common units repurchased 8 8 0
Cash paid for common units repurchased $ 400 $ 326 $ 0
Average cost per unit $ 51.58 $ 43.04 $ 0
v3.25.4
Master Limited Partnership (Series A Preferred Units) (Details) - MPLX - shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Common Stock    
Noncontrolling Interest [Line Items]    
Partners' Capital Account, Units, Converted 21,000,000 2,000,000
Series A Preferred Stock    
Noncontrolling Interest [Line Items]    
Temporary Equity, Shares Outstanding 6,000,000  
v3.25.4
Master Limited Partnership (Redemption of the Series B Preferred Units) (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Feb. 15, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Noncontrolling Interest [Line Items]        
Redemption of preferred units   $ 0 $ 0 $ 600
Preferred stock redemption premium   $ 0 $ 0 $ 2
Series B Preferred Stock | MPLX        
Noncontrolling Interest [Line Items]        
Preferred units, outstanding 600,000      
Preferred stock, redemption price per share $ 1,000      
Redemption of preferred units $ 600      
Preferred stock redemption premium $ 2      
v3.25.4
Master Limited Partnership (Noncontrolling Interest) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Increase (decrease) in MPC's additional paid-in capital, net of tax $ (128) $ 293 $ (526)
Additional Paid-in Capital      
Increase (decrease) due to change in ownership (88) 159 (4)
Tax impact 74 (55) 0
Increase (decrease) in MPC's additional paid-in capital, net of tax $ (14) $ 104 $ (4)
v3.25.4
Acquisitions and Other Transactions (Northwind Midstream) (Details) - USD ($)
$ in Millions
Aug. 29, 2025
Dec. 31, 2025
Aug. 11, 2025
Mar. 10, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]            
Goodwill   $ 9,354     $ 8,244 $ 8,244
Midstream            
Business Combination [Line Items]            
Goodwill   $ 8,793     $ 7,683 $ 7,683
MPLX | Senior Notes            
Business Combination [Line Items]            
Debt instrument, face amount     $ 4,500 $ 2,000    
Northwind Midstream Acquisition            
Business Combination [Line Items]            
Voting equity interest acquired, percentage 100.00%          
Total cash paid $ 2,400          
Acquired finite-lived intangible assets, weighted average useful life 15 years          
Goodwill $ 379          
Northwind Midstream Acquisition | Previously Reported            
Business Combination [Line Items]            
Goodwill 356          
Northwind Midstream Acquisition | Midstream            
Business Combination [Line Items]            
Goodwill $ 379          
v3.25.4
Acquisitions and Other Transactions (Northwind Midstream - Assets Acquired and Liabilities Assumed) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Aug. 29, 2025
Dec. 31, 2024
Dec. 31, 2023
Liabilities assumed:        
Goodwill $ 9,354   $ 8,244 $ 8,244
Northwind Midstream Acquisition        
(In millions)        
Cash and cash equivalents   $ 17    
Receivables   11    
Other current assets   1    
Property, plant and equipment   1,169    
Intangibles   951    
Other noncurrent assets   2    
Total assets acquired   2,151    
Liabilities assumed:        
Accounts payable   115    
Other current liabilities   1    
Long-term operating lease liabilities   1    
Total liabilities assumed   117    
Total identifiable net assets   2,034    
Goodwill   379    
Fair value of net assets acquired   2,413    
Northwind Midstream Acquisition | Previously Reported        
(In millions)        
Cash and cash equivalents   17    
Receivables   11    
Other current assets   1    
Property, plant and equipment   1,182    
Intangibles   951    
Other noncurrent assets   2    
Total assets acquired   2,164    
Liabilities assumed:        
Accounts payable   105    
Other current liabilities   1    
Long-term operating lease liabilities   1    
Total liabilities assumed   107    
Total identifiable net assets   2,057    
Goodwill   356    
Fair value of net assets acquired   2,413    
Northwind Midstream Acquisition | Revision of Prior Period, Adjustment        
(In millions)        
Cash and cash equivalents   0    
Receivables   0    
Other current assets   0    
Property, plant and equipment   (13)    
Intangibles   0    
Other noncurrent assets   0    
Total assets acquired   (13)    
Liabilities assumed:        
Accounts payable   10    
Other current liabilities   0    
Long-term operating lease liabilities   0    
Total liabilities assumed   10    
Total identifiable net assets   (23)    
Goodwill   23    
Fair value of net assets acquired   $ 0    
v3.25.4
Acquisitions and Other Transactions (Divestiture of Rockies Operations) (Details) - USD ($)
$ in Millions
 12 Months Ended
Nov. 12, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Net gain on disposal of assets   $ 173 $ 28 $ 217
Disposal Group, Not Discontinued Operations | Rockies Operations        
Business Combination [Line Items]        
Consideration $ 980      
Net gain on disposal of assets $ 159      
v3.25.4
Acquisitions and Other Transactions (Sale of Interest of Ethanol Joint Venture) (Details) - USD ($)
$ in Millions
Jul. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Business Combination [Line Items]      
Equity method investments   $ 6,795 $ 6,857
The Andersons Marathon Holdings LLC      
Business Combination [Line Items]      
Percentage of ownership before transaction 49.90%    
Proceeds from sale of equity method investments $ 427    
Equity method investments 173    
Gain on disposition of stock in equity method investee $ 254    
v3.25.4
Acquisitions and Other Transactions (BANGL, LLC Acquisition) (Details) - USD ($)
$ in Millions
Jul. 03, 2025
Jul. 01, 2025
Jul. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]            
Basis difference       $ 432    
Goodwill       9,354 $ 8,244 $ 8,244
Midstream            
Business Combination [Line Items]            
Goodwill       $ 8,793 $ 7,683 $ 7,683
BANGL, LLC Acquisition            
Business Combination [Line Items]            
Total cash paid   $ 703        
Contingent consideration, maximum amount   275        
Repayments of debt $ 656          
Preacquisition equity interest in acquiree, remeasurement, gain   $ 484        
Alternative Investment, Valuation Technique [Extensible Enumeration]   Valuation Technique, Discounted Cash Flow [Member]        
Voting equity interest acquired, percentage   100.00%        
Acquired finite-lived intangible assets, weighted average useful life   11 years        
Goodwill   $ 731        
Goodwill expected tax deductible percent   55.00%        
Business Combination, Achieved in Stages, Preacquisition Equity Interest in Acquiree, Remeasurement, Gain, Statement of Income or Comprehensive Income [Extensible Enumeration]   Income (Loss) from Equity Method Investments        
BANGL, LLC Acquisition | Minimum            
Business Combination [Line Items]            
Alternative Investment, Measurement Input   0.11        
BANGL, LLC Acquisition | Maximum            
Business Combination [Line Items]            
Alternative Investment, Measurement Input   0.12        
BANGL, LLC Acquisition | Midstream            
Business Combination [Line Items]            
Goodwill   $ 731        
BANGL, LLC            
Business Combination [Line Items]            
Additional ownership acquired     20.00%      
Payments to acquire interest in joint venture     $ 210      
Equity method investments, ownership percentage     45.00%      
Basis difference     $ 156      
BANGL, LLC | BANGL, LLC Acquisition            
Business Combination [Line Items]            
Additional ownership acquired   55.00%        
v3.25.4
Acquisitions and Other Transactions (BANGL, LLC Acquisitions - Total Consideration) (Details) - USD ($)
$ in Millions
 12 Months Ended
Jul. 01, 2025
Dec. 31, 2025
 [1],[2]
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Fair value of contingent consideration as of acquisition date   $ 234 $ 0 $ 0
BANGL, LLC Acquisition        
Business Combination [Line Items]        
Total cash paid $ 703      
Fair value of contingent consideration as of acquisition date 234      
Total consideration 937      
Fair value of previously held equity interest 766      
Fair value of net assets acquired $ 1,703      
[1] Liability recorded in the third quarter of 2025 related to the BANGL Acquisition earnout provision.
[2] See Note 5 - BANGL, LLC Acquisitions
v3.25.4
Acquisitions and Other Transactions (BANGL, LLC Acquisitions - Fair Value of the BANGL Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Jul. 01, 2025
Dec. 31, 2024
Dec. 31, 2023
Liabilities assumed:        
Goodwill $ 9,354   $ 8,244 $ 8,244
BANGL, LLC Acquisition        
(In millions)        
Cash and cash equivalents   $ 18    
Other current assets   4    
Property, plant and equipment   1,550    
Intangibles   77    
Other noncurrent assets   22    
Total assets acquired   1,671    
Liabilities assumed:        
Long-term debt due within one year   46    
Other current liabilities   42    
Long-term debt   610    
Other long-term liabilities   1    
Total liabilities assumed   699    
Total identifiable net assets   972    
Goodwill   731    
Fair value of net assets acquired   $ 1,703    
v3.25.4
Acquisitions and Other Transactions (Whiptail Midstream Acquisition) (Details) - USD ($)
$ in Millions
 12 Months Ended
Mar. 11, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Payments to acquire businesses, net of cash acquired   $ 3,316 $ 688 $ 246
Whiptail Midstream Acquisition        
Business Combination [Line Items]        
Payments to acquire businesses, net of cash acquired $ 235      
Property, plant and equipment 170      
Intangibles 41      
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Net Working Capital $ 24      
v3.25.4
Acquisitions and Other Transactions (Jones Act Blue Water Vessels Acquisition) (Details) - USD ($)
$ in Millions
 12 Months Ended
Oct. 01, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Sep. 30, 2025
Business Combination [Line Items]          
Book value of equity method investment [1]   $ 282 $ 50 $ 311  
Net gain on disposal of assets   $ 173 $ 28 $ 217  
Coastal Holdings          
Business Combination [Line Items]          
Equity method investments, ownership percentage 50.00%       50.00%
Payments to acquire additional interest in subsidiaries $ 66        
Fair value of assets contributed 66        
Book value of equity method investment 50        
Net gain on disposal of assets 16        
Blue Water Holdings | Bonds          
Business Combination [Line Items]          
Other long-term debt $ 175        
[1] 2025 and 2023 represents the book value of MPLX’s equity method investment in BANGL and Torñado, respectively, prior to MPLX buying out the remaining interest in these entities. 2024 represents the book value of Coastal Holdings prior to MPC buying out the remaining 50 percent interest from our joint venture partner. See Note 5 for additional information.
v3.25.4
Acquisitions and Other Transactions (Whistler Joint Venture Transaction) (Details) - USD ($)
$ in Millions
 12 Months Ended
May 29, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
May 28, 2024
Business Combination [Line Items]          
Proceeds from equity method investment, distribution, return of capital   $ 721 $ 161 $ 275  
WPC Parent, LLC          
Business Combination [Line Items]          
Gain on disposition of stock in equity method investee $ 151        
Proceeds from equity method investment, distribution, return of capital $ 134        
WPC Parent, LLC | MPLX          
Business Combination [Line Items]          
Equity method investments, ownership percentage 30.40%        
WPC Parent, LLC | Enbridge Inc.          
Business Combination [Line Items]          
Equity method investments, ownership percentage 19.00%        
Whistler Pipeline LLC | MPLX          
Business Combination [Line Items]          
Equity method investments, ownership percentage         37.50%
v3.25.4
Acquisitions and Other Transactions (Utica Midstream Acquisition) (Details) - USD ($)
$ in Millions
 12 Months Ended
Mar. 22, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Mar. 21, 2024
Business Combination [Line Items]          
Basis difference   $ 432      
Net gain on disposal of assets   $ 173 $ 28 $ 217  
Ohio Condensate Company          
Business Combination [Line Items]          
Equity method investments, ownership percentage         62.00%
Midstream Acquisition          
Business Combination [Line Items]          
Payments to acquire interest in affiliates $ 625        
Total identifiable net assets 625        
Recognized identifiable assets acquired and liabilities assumed, equity method investments $ 507        
Midstream Acquisition | Ohio Gathering Company          
Business Combination [Line Items]          
Equity method investments, ownership percentage 73.00%        
Basis difference $ 75        
Midstream Acquisition | Ohio Condensate Company          
Business Combination [Line Items]          
Equity method investments, ownership percentage 100.00%        
Net gain on disposal of assets $ 20        
v3.25.4
Acquisitions and Other Transactions (MarkWest Torñado GP, L.L.C. Acquisition) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 15, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Book value of equity method investment [1]   $ 282 $ 50 $ 311
Net gain on disposal of assets   $ 173 $ 28 $ 217
Markwest Tornado GP, L.L.C.        
Business Combination [Line Items]        
Payments to acquire additional interest in subsidiaries $ 303      
Equity method investment, remaining ownership interest purchased 40.00%      
Total cash paid $ 270      
Contract with customer, asset, before allowance for credit loss, noncurrent $ 33      
Equity method investments, ownership percentage 60.00%      
Book value of equity method investment $ 311      
Net gain on disposal of assets 92      
Total identifiable net assets $ 673      
[1] 2025 and 2023 represents the book value of MPLX’s equity method investment in BANGL and Torñado, respectively, prior to MPLX buying out the remaining interest in these entities. 2024 represents the book value of Coastal Holdings prior to MPC buying out the remaining 50 percent interest from our joint venture partner. See Note 5 for additional information.
v3.25.4
Acquisitions and Other Transactions (South Texas Gateway Terminal LLC Sale) (Details) - USD ($)
$ in Millions
 12 Months Ended
Aug. 01, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Net gain on disposal of assets   $ 173 $ 28 $ 217
South Texas Gateway Terminal        
Business Combination [Line Items]        
Equity method investments, ownership percentage 25.00%      
Proceeds from sale of equity method investments $ 270      
Net gain on disposal of assets 106      
South Texas Gateway Terminal | Gibson Energy        
Business Combination [Line Items]        
Payments to acquire assets, investing activities $ 1,100      
v3.25.4
Acquisitions and Other Transactions (LF Bioenergy Acquisition) (Details) - USD ($)
$ in Millions
 12 Months Ended
Mar. 08, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Payments to acquire businesses, net of cash acquired   $ 3,316 $ 688 $ 246
LF Bioenergy        
Business Combination [Line Items]        
Equity method investments, ownership percentage 49.90%      
Payments to acquire businesses, net of cash acquired $ 56      
v3.25.4
Variable Interest Entities (Balance Sheet Information for Consolidated VIEs) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Assets      
Cash and cash equivalents $ 3,672 $ 3,210  
Receivables 10,317 11,145  
Inventories 10,129 9,568  
Other current assets 662 524  
Equity method investments 6,795 6,857  
Property, plant and equipment, net [1] 37,397 35,028  
Goodwill 9,354 8,244 $ 8,244
Intangibles, net 2,714 1,774  
Right of use assets, net 1,493 1,300  
Other noncurrent assets 1,422 1,208  
Liabilities      
Accounts payable 12,974 13,906  
Accrued taxes 1,484 1,204  
Debt due within one year 2,371 3,049  
Operating lease liabilities 489 417  
Other current liabilities 1,253 1,155  
Long-term debt 30,505 24,432  
Deferred income taxes 5,984 5,771  
Long-term operating lease liabilities 993 860  
Deferred credits and other liabilities 1,536 1,305  
VIE, Primary Beneficiary | MPLX      
Assets      
Cash and cash equivalents 2,137 1,519  
Receivables 746 731  
Inventories 172 180  
Other current assets 51 29  
Equity method investments 4,798 4,531  
Property, plant and equipment, net 21,698 19,154  
Goodwill 8,755 7,645  
Intangibles, net 1,397 518  
Right of use assets, net 276 273  
Other noncurrent assets 1,126 995  
Liabilities      
Accounts payable 865 719  
Accrued taxes 93 82  
Debt due within one year 1,502 1,693  
Operating lease liabilities 53 45  
Other current liabilities 403 370  
Long-term debt 24,151 19,255  
Deferred income taxes 25 18  
Long-term operating lease liabilities 217 217  
Deferred credits and other liabilities $ 474 $ 445  
[1] Includes finance leases. See Note 26.
v3.25.4
Related Party Transactions (Related Party Transactions) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Related Party Transaction [Line Items]      
Sales and other operating revenues $ 132,699 $ 138,864 $ 148,379
Purchases from related parties 2,891 2,437 1,818
Related Party      
Related Party Transaction [Line Items]      
Sales and other operating revenues $ 1,572 $ 1,053 $ 915
v3.25.4
Earnings per Share (Summary Of Earnings Per Share) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Basic earnings per share:      
Net income attributable to MPC $ 4,047 $ 3,445 $ 9,681
Income allocated to participating securities, basic (4) (3) (7)
Redemption of preferred units 0 0 (2)
Income available to common stockholders - basic $ 4,043 $ 3,442 $ 9,672
Weighted average common shares outstanding - basic (in shares) 305 340 407
Basic earnings per share $ 13.24 $ 10.11 $ 23.73
Diluted earnings per share:      
Net income attributable to MPC $ 4,047 $ 3,445 $ 9,681
Income allocated to participating securities, diluted (4) (3) (7)
Redemption of preferred units 0 0 (2)
Income available to common stockholders - diluted $ 4,043 $ 3,442 $ 9,672
Weighted average common shares outstanding - basic (in shares) 305 340 407
Effect of dilutive securities (in shares) 1 1 2
Weighted average shares outstanding - diluted (in shares) 306 341 409
Diluted earnings per share $ 13.22 $ 10.08 $ 23.63
v3.25.4
Equity (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Nov. 05, 2024
Equity, Class of Treasury Stock [Line Items]    
Stock repurchase program, authorized amount $ 60,050  
Stock repurchase plan remaining authorized amount $ 4,380  
Share Repurchase Authorization November 2024    
Equity, Class of Treasury Stock [Line Items]    
Stock repurchase program, authorized amount   $ 5,000
v3.25.4
Equity (Share Repurchases) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Equity [Abstract]      
Number of shares repurchased 21 53 89
Cash paid for shares repurchased $ 3,399 $ 9,077 $ 11,572
Average cost per share $ 163.64 $ 171.68 $ 131.27
Share Repurchase Program, excise tax $ 89 $ 112  
v3.25.4
Segment Information (Number of Reportable Segments) (Details)
 12 Months Ended
Dec. 31, 2025
Segment
Segment Reporting [Abstract]  
Number of reportable segments 3
v3.25.4
Segment Information (Segment adjusted EBITDA) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Refining & Renewable Diesel planned turnaround costs $ (1,553) $ (1,404) $ (1,201)
Renewable Diesel JV planned turnaround costs(a) [1] (18) (9) (25)
Garyville incident response costs 0 0 (16)
LIFO inventory adjustment 72 161 (145)
Gain on sales of assets 897 151 [2] 198 [2]
Small Refinery Exemption 57 0 0
Business Combination, Acquisition-Related Cost, Expense (33) 0 0
Legal settlements 253 0 0
Depreciation and amortization (3,251) (3,337) (3,307)
Renewable Diesel JV depreciation and amortization [1] (89) (89) (65)
Net interest and other financial costs (1,276) (839) (525)
Income before income taxes 7,015 5,957 13,989
Operating Segments      
Segment Reporting Information [Line Items]      
Adjusted EBITDA 12,778 12,097 19,812
Depreciation and amortization (3,146) (3,247) (3,207)
Operating Segments | Refining & Marketing      
Segment Reporting Information [Line Items]      
Adjusted EBITDA 6,138 5,703 13,705
Depreciation and amortization (1,627) (1,767) (1,822)
Operating Segments | Midstream      
Segment Reporting Information [Line Items]      
Adjusted EBITDA 6,750 6,544 6,171
Depreciation and amortization (1,450) (1,405) (1,320)
Operating Segments | Renewable Diesel      
Segment Reporting Information [Line Items]      
Adjusted EBITDA (110) (150) (64)
Depreciation and amortization [3] (69) (75) (65)
Corporate      
Segment Reporting Information [Line Items]      
Corporate (822) (774) (737)
Depreciation and amortization $ (105) $ (90) $ (100)
[1] Represents MPC’s pro-rata share of expenses from joint ventures included within the Renewable Diesel segment.
[2] 2025 includes gains from the BANGL Acquisition, the sale of MPC’s interest in TAMH and the Rockies divestiture. 2024 includes the gain from the Whistler Joint Venture Transaction. 2023 includes the gain associated with the remeasurement of MPLX’s existing equity investment in MarkWest Torñado GP, L.L.C., arising from the acquisition of the remaining 40 percent interest and the gain on the sale of our interest in South Texas Gateway Terminal LLC. See Note 5 for additional information.
[3] Excludes our pro-rata share of Renewable Diesel JV depreciation and amortization of $89 million, $89 million and $65 million in 2025, 2024 and 2023, respectively, which was adjusted for purposes of arriving at Renewable Diesel segment adjusted EBITDA.
v3.25.4
Segment Information (Recon of Segment Revenues to Sales and Other Operating Revenues) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Sales and other operating revenues $ 132,699 $ 138,864 $ 148,379
Refining & Marketing      
Segment Reporting Information [Line Items]      
Sales and other operating revenues [1] 124,252 131,588 141,835
Midstream      
Segment Reporting Information [Line Items]      
Sales and other operating revenues [1] 5,628 5,197 4,911
Renewable Diesel      
Segment Reporting Information [Line Items]      
Sales and other operating revenues [1] 2,814 2,079 1,633
Intersegment Eliminations      
Segment Reporting Information [Line Items]      
Sales and other operating revenues 5,982 5,997 5,767
Intersegment Eliminations | Refining & Marketing      
Segment Reporting Information [Line Items]      
Sales and other operating revenues 60 175 139
Intersegment Eliminations | Midstream      
Segment Reporting Information [Line Items]      
Sales and other operating revenues 5,906 5,797 5,597
Intersegment Eliminations | Renewable Diesel      
Segment Reporting Information [Line Items]      
Sales and other operating revenues 16 25 31
Operating Segments      
Segment Reporting Information [Line Items]      
Sales and other operating revenues 138,676 144,861 154,146
Operating Segments | Refining & Marketing      
Segment Reporting Information [Line Items]      
Sales and other operating revenues 124,312 131,763 141,974
Operating Segments | Midstream      
Segment Reporting Information [Line Items]      
Sales and other operating revenues 11,534 10,994 10,508
Operating Segments | Renewable Diesel      
Segment Reporting Information [Line Items]      
Sales and other operating revenues 2,830 2,104 1,664
Corporate      
Segment Reporting Information [Line Items]      
Sales and other operating revenues $ 5 $ 0 $ 0
[1] Includes sales to related parties. See Note 7 for additional information. See Note 20 for the disaggregation of our revenue from external customers by segment and product line.
v3.25.4
Segment Information (Equity Method Investments) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Income from equity method investments $ 1,622 $ 1,048 $ 742
Operating Segments      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Income from equity method investments 884 897 742
Operating Segments | Refining & Marketing      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Income from equity method investments 9 57 66
Operating Segments | Midstream      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Income from equity method investments 793 770 735
Operating Segments | Renewable Diesel      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Income from equity method investments 82 70 (59)
Corporate      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Income from equity method investments $ 738 [1] $ 151 $ 0
[1] 2025 includes gains from the BANGL Acquisition and the sale of MPC’s interest in TAMH. 2024 represents the gain from the Whistler Joint Venture Transaction. See Note 5 for additional information.
v3.25.4
Segment Information (Segment Expenses) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Segment expenses $ 126,931 $ 133,616 $ 135,793
Operating Segments | Refining & Marketing      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Cost of purchases 104,308 112,938 115,973
Operating costs 6,097 5,712 5,625
Distribution costs 6,185 5,857 5,645
Other segment item [1] 1,593 1,610 1,092
Segment expenses 118,183 126,117 128,335
Operating Segments | Midstream      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Other segment item [2] 5,577 5,220 5,072
Segment expenses 5,577 5,220 5,072
Operating Segments | Renewable Diesel      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Operating costs 274 269 242
Distribution costs 101 95 82
Other segment item [3] 2,647 1,960 1,345
Segment expenses $ 3,022 $ 2,324 $ 1,669
[1] Other segment items for the Refining & Marketing segment include costs that are reimbursed by customers through commercial arrangements, as well as LIFO inventory adjustments.
[2] Other segment items for the Midstream segment include operating expenses and purchased product costs. For purposes of managing Midstream segment of MPC, the CODM is only provided consolidated Midstream expense information.
[3] Other segment items for the Renewable Diesel segment include purchased product costs.
v3.25.4
Segment Information (Depreciation and Amortization) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Depreciation and amortization $ 3,251 $ 3,337 $ 3,307
Renewable Diesel JV depreciation and amortization [1] 89 89 65
Operating Segments      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Depreciation and amortization 3,146 3,247 3,207
Operating Segments | Refining & Marketing      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Depreciation and amortization 1,627 1,767 1,822
Operating Segments | Midstream      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Depreciation and amortization 1,450 1,405 1,320
Operating Segments | Renewable Diesel      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Depreciation and amortization [2] 69 75 65
Corporate      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Depreciation and amortization $ 105 $ 90 $ 100
[1] Represents MPC’s pro-rata share of expenses from joint ventures included within the Renewable Diesel segment.
[2] Excludes our pro-rata share of Renewable Diesel JV depreciation and amortization of $89 million, $89 million and $65 million in 2025, 2024 and 2023, respectively, which was adjusted for purposes of arriving at Renewable Diesel segment adjusted EBITDA.
v3.25.4
Segment Information (Recon of Other Significant Items from Segments to Consolidated) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Investments in equity method investments $ 1,064 $ 509 $ 480
Segment, Reconciliation of Other Items from Segments to Consolidated [Abstract]      
Total capital expenditures [1] 3,629 2,567 2,074
Operating Segments      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Capital Expenditures And Investments 4,574 2,957 2,416
Investments in equity method investments 1,064 509 480
Operating Segments | Refining & Marketing      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Capital Expenditures And Investments 1,580 1,445 998
Operating Segments | Midstream      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Capital Expenditures And Investments 2,975 1,504 1,105
Operating Segments | Renewable Diesel      
Segment Reporting, Other Significant Reconciling Item [Line Items]      
Capital Expenditures And Investments 19 8 313
Corporate      
Segment, Reconciliation of Other Items from Segments to Consolidated [Abstract]      
Capital Expenditures Excluding Capitalized Interest 25 63 83
Capitalized interest $ 94 $ 56 $ 55
[1] Includes changes in capital expenditure accruals. See Note 21 for a reconciliation of total capital expenditures to additions to property, plant and equipment as reported in the consolidated statements of cash flows
v3.25.4
Segment Information (Major Customer) (Details)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting, Disclosure of Major Customers No single customer accounted for 10 percent or more of annual revenues for the years ended December 31, 2025, December 31, 2024 or December 31, 2023.
v3.25.4
Net Interest and Other Financial Costs (Net Interest and Other Financial Costs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Income and Expenses [Abstract]      
Interest income $ (159) $ (376) $ (530)
Interest expense 1,489 1,365 1,325
Interest capitalized (100) (57) (60)
Pension and other postretirement non-service costs [1] 23 (38) (89)
Investments - net premium (discount) amortization 0 (91) (142)
Other financial costs 23 36 21
Net interest and other financial costs $ 1,276 $ 839 $ 525
[1] See Note 24.
v3.25.4
Income Taxes (Components Of Income Tax Provisions (Benefits)) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income (loss) from operations before income taxes:      
Domestic $ 6,958 $ 5,964 $ 13,875
Foreign 57 (7) 114
Income before income taxes 7,015 5,957 13,989
Current:      
Federal 706 862 2,359
State and local 129 144 475
Foreign 20 8 11
Total current 855 1,014 2,845
Deferred:      
Federal 255 (90) 18
State and local 25 (33) (46)
Foreign 2 (1) 0
Total deferred 282 (124) (28)
Total $ 1,137 $ 890 $ 2,817
v3.25.4
Income Taxes (Reconciliation Of Federal Statutory Income Tax Rate) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]      
Federal statutory rate $ 1,473 $ 1,251 $ 2,937
State and local income taxes, net of federal income tax effects [1] 128 91 338
Nontaxable or nondeductible items:      
Noncontrolling interests (385) (341) (314)
Other 24 (44) (30)
Tax credits [1] (84) (42) 0
Other adjustments (19) (25) (114)
Total $ 1,137 $ 890 $ 2,817
Effective Income Tax Rate Reconciliation, Percent [Abstract]      
Federal statutory rate 21.00% 21.00% 21.00%
State and local Income taxes, net of federal income tax effects [1] 1.80% 1.50% 2.40%
Nontaxable or nondeductible items:      
Noncontrolling interests (5.50%) (5.70%) (2.20%)
Other 0.30% (0.80%) (0.30%)
Tax credits [1] (1.20%) (0.70%) 0.00%
Other adjustments (0.20%) (0.40%) (0.80%)
Effective tax rate applied to income before income taxes 16.20% 14.90% 20.10%
[1] State taxes in California, Texas and Kentucky make up the majority of the tax effect of this category.
v3.25.4
Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Employee benefits $ 560 $ 558
Environmental remediation 80 81
Finance lease obligations 409 433
Operating lease liabilities 314 243
Net operating loss carryforwards 32 39
Tax credit carryforwards 20 22
Goodwill and other intangibles 84 75
Other 115 95
Total deferred tax assets 1,614 1,546
Valuation allowance (9) (51)
Total net deferred tax assets 1,605 1,495
Deferred tax liabilities:    
Property, plant and equipment 2,441 2,584
Inventories 845 672
Investments in subsidiaries and affiliates 3,957 3,742
Right of use assets 324 246
Other 19 20
Total deferred tax liabilities 7,586 7,264
Net deferred tax liabilities $ 5,981 $ 5,769
v3.25.4
Income Taxes (Components Of Net Deferred Tax Liabilities Classified In Consolidated Balance Sheets) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Net deferred tax liabilities $ 5,981 $ 5,769
Other noncurrent assets    
Net deferred tax liabilities 3 2
Deferred income taxes    
Net deferred tax liabilities $ 5,984 $ 5,771
v3.25.4
Income Taxes (Operating Loss Carryforwards, Tax Credit Carryforwards and Valuation Allowances) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Operating Loss Carryforwards [Line Items]    
Valuation allowance $ 9 $ 51
Domestic Tax Authority    
Operating Loss Carryforwards [Line Items]    
Operating loss carryforwards 2 3
State and Local Jurisdiction    
Operating Loss Carryforwards [Line Items]    
Operating loss and tax credit carryforward 38 42
Foreign Tax Authority    
Operating Loss Carryforwards [Line Items]    
Operating loss carryforwards $ 12 $ 16
v3.25.4
Income Taxes (Summary Of Activity In Unrecognized Tax Benefits) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]      
Unrecognized tax benefits, beginning balance $ 27 $ 38 $ 57
Additions for tax positions of current year 80 0 0
Additions for tax positions of prior years 65 0 8
Reductions for tax positions of prior years (7) (5) (6)
Settlements, decrease (2) (6) (20)
Statute of limitations 0 0 (1)
Unrecognized tax benefits, ending balance 163 $ 27 $ 38
Unrecognized tax benefits that would impact effective income tax rate $ 82    
v3.25.4
Inventories (Summary Of Inventories) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
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
v3.25.4
Inventories (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Inventory Disclosure [Abstract]    
Total inventory LIFO percentage 85.00% 87.00%
Excess of current acquisition costs over stated LIFO value $ 959 $ 2,530
v3.25.4
Equity Method Investments (Schedule Of Equity Method Investments) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Jul. 31, 2025
Dec. 31, 2024
Mar. 08, 2023
Schedule of Equity Method Investments [Line Items]        
Equity method investments $ 6,795   $ 6,857  
The Andersons Marathon Holdings LLC        
Schedule of Equity Method Investments [Line Items]        
Equity method investments   $ 173    
LF Bioenergy        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage       49.90%
Refining & Marketing        
Schedule of Equity Method Investments [Line Items]        
Equity method investments $ 98   282  
Refining & Marketing | The Andersons Marathon Holdings LLC        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 0.00%      
Equity method investments $ 0 [1]   190  
Refining & Marketing | LF Bioenergy        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 50.00%      
Equity method investments $ 98 [1]   92  
Midstream        
Schedule of Equity Method Investments [Line Items]        
Equity method investments 5,544   5,301  
Renewable Diesel        
Schedule of Equity Method Investments [Line Items]        
Equity method investments $ 1,153   1,274  
Renewable Diesel | Martinez Renewables LLC        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 50.00%      
Equity method investments $ 1,065   1,184  
Renewable Diesel | Other equity method investees        
Schedule of Equity Method Investments [Line Items]        
Equity method investments [2] 88   90  
MPLX | Midstream        
Schedule of Equity Method Investments [Line Items]        
Equity method investments 4,798   4,531  
MPLX | Midstream | BANGL        
Schedule of Equity Method Investments [Line Items]        
Equity method investments $ 0 [3]   281  
MPLX | Midstream | Illinois Extension Pipeline        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 35.00%      
Equity method investments $ 208   218  
MPLX | Midstream | LOOP        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 41.00%      
Equity method investments $ 313   310  
MPLX | Midstream | MarEn Bakken Company LLC        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 25.00%      
Equity method investments $ 502   526  
MPLX | Midstream | MarkWest EMG Jefferson Dry Gas        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 67.00%      
Equity method investments $ 407   329  
MPLX | Midstream | MarkWest Utica EMG        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 61.00%      
Equity method investments $ 890   742  
MPLX | Midstream | Ohio Gathering Company        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 32.00%      
Equity method investments $ 444   470  
MPLX | Midstream | Sherwood Midstream        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 50.00%      
Equity method investments $ 475   488  
MPLX | Midstream | Texas City Logistics LLC        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 50.00%      
Equity method investments $ 163   0  
MPLX | Midstream | WPC Parent, LLC        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 30.00%      
Equity method investments $ 273   208  
MPLX | Midstream | Other equity method investees        
Schedule of Equity Method Investments [Line Items]        
Equity method investments [2] 1,123   959  
Marathon Petroleum Corporation | Midstream        
Schedule of Equity Method Investments [Line Items]        
Equity method investments $ 746   770  
Marathon Petroleum Corporation | Midstream | Capline LLC        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 33.00%      
Equity method investments $ 365   382  
Marathon Petroleum Corporation | Midstream | Gray Oak Pipeline LLC        
Schedule of Equity Method Investments [Line Items]        
Equity method investments, ownership percentage 25.00%      
Equity method investments $ 268   274  
Marathon Petroleum Corporation | Midstream | Other equity method investees        
Schedule of Equity Method Investments [Line Items]        
Equity method investments [2] $ 113   $ 114  
[1] In July 2025, we sold our interest in TAMH, as discussed in Note 5.
[2] Some investments included within “Other” have been deemed to be VIEs.
[3] In July 2025, MPLX purchased the remaining interest in BANGL, increasing MPLX’s ownership to 100 percent. See Note 5 for additional information.
v3.25.4
Equity Method Investments (Summarized Financial Information For Equity Method Investees) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income statement data:      
Revenues and other income $ 135,222 $ 140,412 $ 150,307
Income from operations 8,291 6,796 14,514
Net income 5,878 5,067 11,172
Balance sheet data – December 31:      
Current assets 24,780 24,447  
Current liabilities 19,678 20,827  
Equity Method Investment, Nonconsolidated Investee or Group of Investees      
Income statement data:      
Revenues and other income 10,223 9,259 6,544
Income from operations 2,713 2,698 2,428
Net income 2,368 2,211 $ 2,089
Balance sheet data – December 31:      
Current assets 2,246 2,687  
Noncurrent assets 26,310 24,656  
Current liabilities 2,176 1,927  
Noncurrent liabilities $ 8,050 $ 7,837  
v3.25.4
Equity Method Investments (Basis differences and distributions) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]      
Basis difference $ 432    
Equity method investment difference between carrying amount and underlying equity portion related to goodwill and other assets not amortized 174    
Distributions from equity method investments $ 1,255 $ 1,215 $ 941
v3.25.4
Property, Plant and Equipment (Summary Of Property, Plant And Equipment) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Line Items]    
Gross PP&E [1] $ 71,009 $ 66,317
Accumulated depreciation [1] 33,612 31,289
Property, plant and equipment, net [1] 37,397 35,028
Operating Segments | Refining & Marketing    
Property, Plant and Equipment [Line Items]    
Gross PP&E 34,372 32,965
Accumulated depreciation 20,462 19,015
Property, plant and equipment, net 13,910 13,950
Operating Segments | Midstream    
Property, Plant and Equipment [Line Items]    
Gross PP&E 34,057 30,697
Accumulated depreciation 11,690 10,798
Property, plant and equipment, net 22,367 19,899
Operating Segments | Renewable Diesel    
Property, Plant and Equipment [Line Items]    
Gross PP&E 970 976
Accumulated depreciation 396 338
Property, plant and equipment, net 574 638
Corporate    
Property, Plant and Equipment [Line Items]    
Gross PP&E 1,610 1,679
Accumulated depreciation 1,064 1,138
Property, plant and equipment, net $ 546 $ 541
[1] Includes finance leases. See Note 26.
v3.25.4
Property, Plant and Equipment (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Line Items]    
Gross PP&E [1] $ 71,009 $ 66,317
Construction in progress    
Property, Plant and Equipment [Line Items]    
Gross PP&E $ 2,910 $ 1,780
[1] Includes finance leases. See Note 26.
v3.25.4
Goodwill and Intangibles (Changes In Carrying Amount Of Goodwill) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill [Line Items]    
Beginning balance $ 8,244 $ 8,244
Impairments 0 0
Goodwill, Acquired During Period 1,110  
Ending balance 9,354 8,244
Refining & Marketing    
Goodwill [Line Items]    
Beginning balance 561 561
Impairments 0 0
Goodwill, Acquired During Period 0  
Ending balance 561 561
Midstream    
Goodwill [Line Items]    
Beginning balance 7,683 7,683
Impairments 0 0
Goodwill, Acquired During Period 1,110  
Ending balance $ 8,793 $ 7,683
v3.25.4
Goodwill and Intangibles (Accumulated Impairment Losses) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Line Items]      
Gross goodwill $ 18,075    
Accumulated impairment losses (8,721)    
Goodwill 9,354 $ 8,244 $ 8,244
Refining & Marketing      
Goodwill [Line Items]      
Gross goodwill 6,141    
Accumulated impairment losses (5,580)    
Goodwill 561 561 561
Midstream      
Goodwill [Line Items]      
Gross goodwill 11,934    
Accumulated impairment losses (3,141)    
Goodwill $ 8,793 $ 7,683 $ 7,683
v3.25.4
Goodwill and Intangibles (Intangible Assets by Major Class) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross $ 5,525 $ 4,389
Accumulated amortization 2,882 2,686
Finite-Lived Intangible Assets, Net 2,643 1,703
Customer contracts and relationships    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross 5,245 4,111
Accumulated amortization 2,623 2,446
Finite-Lived Intangible Assets, Net 2,622 1,665
Brand rights and tradenames    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross 100 101
Accumulated amortization 100 89
Finite-Lived Intangible Assets, Net 0 12
Royalty agreements    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross 142 141
Accumulated amortization 126 120
Finite-Lived Intangible Assets, Net 16 21
Other intangible assets    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross 38 36
Accumulated amortization 33 31
Finite-Lived Intangible Assets, Net $ 5 $ 5
v3.25.4
Goodwill and Intangibles (Intangibles Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
Indefinite-lived intangible assets $ 71 $ 71
Amortization expense $ 271 $ 266
v3.25.4
Goodwill and Intangibles (Estimated Future Amortization Expense) (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2026 $ 283
2027 254
2028 238
2029 91
2030 $ 91
v3.25.4
Fair Value Measurements (Assets And Liabilities Accounted For At Fair Value On Recurring Basis) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash collateral netted with derivative liabilities $ 10 $ 12
Fair Value, Measurements, Recurring    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Contingent consideration, Liability 236  
Fair Value, Measurements, Recurring | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Contingent consideration, Liability 236  
Fair Value, Measurements, Recurring | Commodity derivative instruments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commodity derivative instruments, assets - collateral and netting (226) (132)
Derivative asset, subject to master netting arrangement, after offset 17 7
Commodity derivative instruments, assets - collateral pledged not offset 10 16
Commodity derivative instruments, liabilities - netting and collateral (236) (144)
Derivative liability, subject to master netting arrangement, after offset 0 0
Commodity derivative instruments, liabilities - collateral pledged not offset 0 0
Fair Value, Measurements, Recurring | Commodity derivative instruments | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commodity derivative instruments, assets - gross 243 139
Commodity derivative instruments, liabilities - gross 236 144
Fair Value, Measurements, Recurring | Commodity derivative instruments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commodity derivative instruments, assets - gross 0 0
Commodity derivative instruments, liabilities - gross 0 0
Fair Value, Measurements, Recurring | Commodity derivative instruments | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commodity derivative instruments, assets - gross 0 0
Commodity derivative instruments, liabilities - gross 0 0
Fair Value, Measurements, Recurring | Embedded derivative in commodity contracts    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commodity derivative instruments, liabilities - netting and collateral 0 0
Derivative liability, subject to master netting arrangement, after offset 41 58
Commodity derivative instruments, liabilities - collateral pledged not offset 0 0
Fair Value, Measurements, Recurring | Embedded derivative in commodity contracts | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commodity derivative instruments, liabilities - gross 0 0
Fair Value, Measurements, Recurring | Embedded derivative in commodity contracts | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commodity derivative instruments, liabilities - gross 0 0
Fair Value, Measurements, Recurring | Embedded derivative in commodity contracts | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Commodity derivative instruments, liabilities - gross $ 41 $ 58
v3.25.4
Fair Value Measurements (Recurring Narrative) (Details)
 12 Months Ended
Dec. 31, 2025
$ / gal
USD ($)
Jul. 01, 2025
USD ($)
BANGL, LLC Acquisition    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration, maximum amount   $ 275,000,000
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative, average forward price | $ / gal 0.72  
Probability of renewal second term 100.00%  
Level 3 | Minimum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative, forward price 0.60  
Level 3 | Maximum    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative, forward price 1.19  
v3.25.4
Fair Value Measurements (Reconciliation Of Net Beginning And Ending Balances Recorded For Net Assets And Liabilities Classified As Level 3) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Beginning balance $ 58 $ 61  
Fair value of contingent consideration as of acquisition date 234 [1],[2] 0 $ 0
Unrealized and realized (gain) loss included in net income [3] 5 (10)  
Settlements of derivative instruments (10) (13)  
Ending balance $ 277 $ 58 $ 61
[1] Liability recorded in the third quarter of 2025 related to the BANGL Acquisition earnout provision.
[2] See Note 5 - BANGL, LLC Acquisitions
[3] The gain/loss is included in cost of revenues on the consolidated statements of income.
v3.25.4
Fair Value Measurements (Gains/Losses Included In Earnings Relating to Assets Still Held at the End of Period) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Fair Value Disclosures [Abstract]    
Fair Value, Asset (Liability), Recurring Basis, Still Held, Unrealized Gain (Loss) [1] $ 7 $ (7)
[1] The gain/loss is included in cost of revenues on the consolidated statements of income.
v3.25.4
Fair Value Measurements (Fair Values - Reported) (Details) - USD ($)
$ in Billions
Dec. 31, 2025
Dec. 31, 2024
Carrying Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 32.4 $ 26.9
Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 31.1 $ 25.0
v3.25.4
Derivatives (Classification Of Gross Fair Values Of Derivative Instruments, Excluding Cash Collateral) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commodity derivative instruments | Other current assets    
Derivatives, Fair Value [Line Items]    
Asset $ 243 $ 139
Liability 236 144
Embedded derivative in commodity contracts | Other current liabilities    
Derivatives, Fair Value [Line Items]    
Asset 0 0
Liability 6 10
Embedded derivative in commodity contracts | Deferred credits and other liabilities    
Derivatives, Fair Value [Line Items]    
Asset 0 0
Liability $ 35 $ 48
v3.25.4
Derivatives (Open Commodity Derivative Contracts) (Details) - Exchange Traded
bbl in Thousands
 12 Months Ended
Dec. 31, 2025
bbl
Crude oil  
Derivative [Line Items]  
Percentage of derivative contracts expiring next quarter 56.10%
Crude oil | Long  
Derivative [Line Items]  
Notional contracts (contract volumes) 40,038 [1]
Crude oil | Long | Spread contracts  
Derivative [Line Items]  
Notional contracts (contract volumes) 3,600
Crude oil | Short  
Derivative [Line Items]  
Notional contracts (contract volumes) 41,459 [1]
Crude oil | Short | Spread contracts  
Derivative [Line Items]  
Notional contracts (contract volumes) 2,970
Refined products  
Derivative [Line Items]  
Percentage of derivative contracts expiring next quarter 80.80%
Refined products | Long  
Derivative [Line Items]  
Notional contracts (contract volumes) 37,457 [1]
Refined products | Long | Spread contracts  
Derivative [Line Items]  
Notional contracts (contract volumes) 3,156
Refined products | Short  
Derivative [Line Items]  
Notional contracts (contract volumes) 39,082 [1]
Refined products | Short | Spread contracts  
Derivative [Line Items]  
Notional contracts (contract volumes) 3,041
Blending products  
Derivative [Line Items]  
Percentage of derivative contracts expiring next quarter 91.60%
Blending products | Long  
Derivative [Line Items]  
Notional contracts (contract volumes) 7,225 [1]
Blending products | Long | Spread contracts  
Derivative [Line Items]  
Notional contracts (contract volumes) 173
Blending products | Short  
Derivative [Line Items]  
Notional contracts (contract volumes) 6,502 [1]
Soybean oil  
Derivative [Line Items]  
Percentage of derivative contracts expiring next quarter 94.90%
Soybean oil | Long  
Derivative [Line Items]  
Notional contracts (contract volumes) 1,171
Soybean oil | Short  
Derivative [Line Items]  
Notional contracts (contract volumes) 1,422
[1] Included in exchange-traded are spread contracts in thousands of barrels: Crude oil - 3,600 long and 2,970 short; Refined products - 3,156 long and 3,041 short; Blending products - 173 long. There are no spread contracts for Soybean oil.
v3.25.4
Derivatives (Effect Of Commodity Derivative Instruments In Statements Of Income) (Details) - Commodity Contract [Member] - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative [Line Items]      
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] $ (24) $ (91) $ (6)
Sales and other operating revenues      
Derivative [Line Items]      
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] 0 1 7
Cost of revenues      
Derivative [Line Items]      
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] (25) (94) (15)
Other income      
Derivative [Line Items]      
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] $ 1 $ 2 $ 2
v3.25.4
Debt (Outstanding Borrowings) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Total finance lease liabilities $ 695 $ 724
Total debt 33,305 27,797
Unamortized debt issuance costs (204) (142)
Unamortized discount, net of unamortized premium (225) (174)
Amounts due within one year (2,371) (3,049)
Total long-term debt due after one year 30,505 24,432
Marathon Petroleum Corporation    
Debt Instrument [Line Items]    
Total debt 7,299 6,591
Marathon Petroleum Corporation | Senior Notes    
Debt Instrument [Line Items]    
Long-term debt outstanding 6,449 5,699
Marathon Petroleum Corporation | Bonds    
Debt Instrument [Line Items]    
Other long-term debt 161 174
Marathon Petroleum Corporation | Finance Lease    
Debt Instrument [Line Items]    
Total finance lease liabilities 689 718
MPLX    
Debt Instrument [Line Items]    
Total debt 26,006 21,206
MPLX | Senior Notes    
Debt Instrument [Line Items]    
Long-term debt outstanding 26,000 21,200
MPLX | Finance Lease    
Debt Instrument [Line Items]    
Total finance lease liabilities $ 6 $ 6
v3.25.4
Debt (Commercial Paper) (Details) - Commercial Paper [Member]
$ in Billions
Feb. 26, 2016
USD ($)
Debt Instrument [Line Items]  
Line of credit facility, maximum borrowing capacity $ 2.0
Debt instrument, term 397 days
v3.25.4
Debt (MPC Senior Notes) (Details) - Marathon Petroleum Corporation - Senior Notes - USD ($)
$ in Millions
May 01, 2025
Sep. 16, 2024
Dec. 31, 2025
Feb. 10, 2025
Dec. 31, 2024
Debt Instrument [Line Items]          
Long-term debt outstanding     $ 6,449   $ 5,699
Debt instrument, face amount       $ 2,000  
Senior notes, 4.700% due May 2025          
Debt Instrument [Line Items]          
Long-term debt outstanding     0   1,250
Repayments of debt $ 1,250        
Senior notes, 5.125% due December 2026          
Debt Instrument [Line Items]          
Long-term debt outstanding     719   719
Senior notes, 3.800% due April 2028          
Debt Instrument [Line Items]          
Long-term debt outstanding     496   496
Senior notes, 5.150% due March 2030          
Debt Instrument [Line Items]          
Long-term debt outstanding     1,100   0
Debt instrument, face amount       1,100  
Senior notes, 5.700% due March 2035          
Debt Instrument [Line Items]          
Long-term debt outstanding     900   0
Debt instrument, face amount       $ 900  
Senior notes, 6.500% due March 2041          
Debt Instrument [Line Items]          
Long-term debt outstanding     1,250   1,250
Senior notes, 4.750% due September 2044          
Debt Instrument [Line Items]          
Long-term debt outstanding     800   800
Senior notes, 5.850% due December 2045          
Debt Instrument [Line Items]          
Long-term debt outstanding     250   250
Senior notes, 4.500% due April 2048          
Debt Instrument [Line Items]          
Long-term debt outstanding     498   498
Senior notes, 5.000%, due September 2054          
Debt Instrument [Line Items]          
Long-term debt outstanding     400   400
Senior Notes Due September 2024          
Debt Instrument [Line Items]          
Repayments of debt   $ 750      
Andeavor | Andeavor senior notes, 3.800% - 5.125% due 2026 – 2048          
Debt Instrument [Line Items]          
Long-term debt outstanding     $ 36   $ 36
v3.25.4
Debt (MARAD Debt) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Sep. 30, 2025
Dec. 31, 2024
Oct. 01, 2024
Bonds | MARAD debt        
Debt Instrument [Line Items]        
Other long-term debt       $ 174
Bonds | Marathon Petroleum Corporation        
Debt Instrument [Line Items]        
Other long-term debt $ 161   $ 174  
Bonds | Marathon Petroleum Corporation | Bonds, 3.432% due August 2036        
Debt Instrument [Line Items]        
Other long-term debt 51   55  
Bonds | Marathon Petroleum Corporation | Bonds, 3.477% due January 2037        
Debt Instrument [Line Items]        
Other long-term debt 53   57  
Bonds | Marathon Petroleum Corporation | Bonds, 3.609% due January 2038        
Debt Instrument [Line Items]        
Other long-term debt $ 57   $ 62  
Coastal Holdings        
Debt Instrument [Line Items]        
Equity method investments, ownership percentage   50.00%   50.00%
v3.25.4
Debt (MPLX Senior Notes) (Details) - MPLX - Senior Notes - USD ($)
$ in Millions
Apr. 09, 2025
Feb. 18, 2025
Dec. 01, 2024
Dec. 31, 2025
Aug. 11, 2025
Mar. 10, 2025
Dec. 31, 2024
May 20, 2024
Debt Instrument [Line Items]                
Long-term debt outstanding       $ 26,000     $ 21,200  
Debt instrument, face amount         $ 4,500 $ 2,000    
Repayments of debt     $ 1,150          
Senior notes, 4.000% due February 2025                
Debt Instrument [Line Items]                
Long-term debt outstanding       0     500  
Repayments of debt   $ 500            
Senior notes, 4.875% due June 2025                
Debt Instrument [Line Items]                
Long-term debt outstanding       0     1,189  
Repayments of debt $ 1,189              
Senior notes, 4.875% due June 2025 | MarkWest                
Debt Instrument [Line Items]                
Repayments of debt $ 11              
MarkWest senior notes, 4.875% due 2025 | MarkWest                
Debt Instrument [Line Items]                
Long-term debt outstanding       0     11  
Senior notes, 1.750% due March 2026                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,500     1,500  
Senior notes, 4.125% due March 2027                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,250     1,250  
Senior notes, 4.250% due December 2027                
Debt Instrument [Line Items]                
Long-term debt outstanding       732     732  
Senior notes, 4.000% due March 2028                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,250     1,250  
Senior notes, 4.800% due February 2029                
Debt Instrument [Line Items]                
Long-term debt outstanding       750     750  
Senior notes, 2.650% due August 2030                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,500     1,500  
Senior notes, 4.800% due February 2031                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,250     0  
Debt instrument, face amount         1,250      
Senior notes, 4.950% due September 2032                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,000     1,000  
Senior notes, 5.000% due January 2033                
Debt Instrument [Line Items]                
Long-term debt outstanding       750     0  
Debt instrument, face amount         750      
Senior notes, 5.000% due March 2033                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,100     1,100  
Senior notes, 5.500% due June 2034                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,650     1,650  
Debt instrument, face amount               $ 1,650
Senior notes, 5.400% due April 2035                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,000     0  
Debt instrument, face amount           1,000    
Senior notes, 5.400% due September 2035                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,500     0  
Debt instrument, face amount         1,500      
Senior notes, 4.500% due April 2038                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,750     1,750  
Senior notes, 5.200% due March 2047                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,000     1,000  
Senior notes, 5.200% due December 2047                
Debt Instrument [Line Items]                
Long-term debt outstanding       487     487  
ANDX senior notes, 4.250% - 5.200% due 2027 – 2047 | ANDX                
Debt Instrument [Line Items]                
Long-term debt outstanding       31     31  
Senior notes, 4.700% due April 2048                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,500     1,500  
Senior notes, 5.500% due February 2049                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,500     1,500  
Senior notes, 4.950% due March 2052                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,500     1,500  
Senior notes, 5.650% due March 2053                
Debt Instrument [Line Items]                
Long-term debt outstanding       500     500  
Senior notes, 5.950% due April 2055                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,000     0  
Debt instrument, face amount           $ 1,000    
Senior notes, 6.200% due September 2055                
Debt Instrument [Line Items]                
Long-term debt outstanding       1,000     0  
Debt instrument, face amount         $ 1,000      
Senior notes, 4.900% due April 2058                
Debt Instrument [Line Items]                
Long-term debt outstanding       $ 500     $ 500  
Senior notes, 4.875% due December 2024                
Debt Instrument [Line Items]                
Repayments of debt     1,149          
Senior notes, 4.875% due December 2024 | MarkWest                
Debt Instrument [Line Items]                
Repayments of debt     $ 1          
v3.25.4
Debt (Schedule Of Debt Payments) (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Debt Disclosure [Abstract]  
2026 $ 2,263
2027 2,014
2028 1,764
2029 764
2030 $ 2,614
v3.25.4
Debt (Available Capacity under our Facilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Jul. 31, 2022
Jul. 07, 2022
MPC bank revolving credit facility due July 2027      
Line of Credit Facility [Line Items]      
Total Capacity $ 5,000    
Outstanding Borrowings 0    
Outstanding Letters of Credit 1    
Available Capacity $ 4,999    
Weighted Average Interest Rate 0.00%    
Trade Receivables Securitization due September 2027      
Line of Credit Facility [Line Items]      
Total Capacity $ 100    
Outstanding Borrowings 0    
Outstanding Letters of Credit 0    
Available Capacity [1] $ 100    
Weighted Average Interest Rate 0.00%    
Line of credit facility, maximum borrowing capacity $ 100 $ 100  
MPLX revolving credit facility due July 2027      
Line of Credit Facility [Line Items]      
Available Capacity 2,000    
MPLX revolving credit facility due July 2027 | MPLX      
Line of Credit Facility [Line Items]      
Total Capacity 2,000    
Outstanding Borrowings 0    
Outstanding Letters of Credit $ 0    
Weighted Average Interest Rate 0.00%    
Line of credit facility, maximum borrowing capacity     $ 2,000
[1] The committed borrowing and letter of credit issuance capacity under the trade receivables securitization facility is $100 million. In addition, the facility allows for the issuance of letters of credit in excess of the committed capacity at the discretion of the issuing banks.
v3.25.4
Debt (MPC Bank Revolving Credit Facility) (Details) - MPC bank revolving credit facility due July 2027
$ in Millions
Jul. 07, 2022
USD ($)
Period
Dec. 31, 2025
USD ($)
Line of Credit Facility [Line Items]    
Total capacity   $ 5,000
Marathon Petroleum Corporation    
Line of Credit Facility [Line Items]    
Line of credit facility, maximum borrowing capacity $ 5,000  
Number of renewal periods | Period 2  
Debt instrument, description of variable rate basis at either the Adjusted Term SOFR or the Alternate Base Rate, both as defined in the MPC Credit Agreement, plus an applicable margin  
Marathon Petroleum Corporation | Letter of Credit    
Line of Credit Facility [Line Items]    
Total capacity $ 2,200  
Marathon Petroleum Corporation | Maximum    
Line of Credit Facility [Line Items]    
Line of credit facility additional borrowing capacity $ 1,000  
Ratio of indebtedness to net capital 0.65  
Marathon Petroleum Corporation | Maximum | Bridge Loan    
Line of Credit Facility [Line Items]    
Total capacity $ 250  
Marathon Petroleum Corporation | Maximum | Letter of Credit    
Line of Credit Facility [Line Items]    
Total capacity $ 3,000  
v3.25.4
Debt (Trade Receivables Securitization Facility) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Jul. 31, 2022
Trade Receivables Securitization due September 2027    
Debt Instrument [Line Items]    
Line of credit facility, maximum borrowing capacity $ 100 $ 100
v3.25.4
Debt (MPLX Bank Revolving Credit Facility) (Details) - MPLX - MPLX revolving credit facility due July 2027
$ in Millions
Jul. 07, 2022
USD ($)
Period
Dec. 31, 2025
USD ($)
Debt Instrument [Line Items]    
Line of credit facility, maximum borrowing capacity $ 2,000  
Total capacity   $ 2,000
Number of renewal periods | Period 2  
Debt instrument, description of variable rate basis at MPLX’s election, at either the Adjusted Term SOFR or the Alternate Base Rate, both as defined in the MPLX Credit Agreement, plus an applicable margin  
Maximum    
Debt Instrument [Line Items]    
Line of credit facility additional borrowing capacity $ 1,000  
Number of prior quarterly reporting periods covenant 4  
Covenant ratio debt to EBITDA 5.0  
Covenant ratio debt to EBITDA post acquisition 5.5  
Letter of Credit | Maximum    
Debt Instrument [Line Items]    
Total capacity $ 150  
v3.25.4
Revenue (Disaggregated by Segment and Product Line) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Sales and other operating revenues $ 132,699 $ 138,864 $ 148,379
Refining & Marketing      
Sales and other operating revenues [1] 124,252 131,588 141,835
Refining & Marketing | Refined products      
Sales and other operating revenues 116,504 122,429 132,675
Refining & Marketing | Crude oil      
Sales and other operating revenues 5,817 7,298 7,423
Refining & Marketing | Services and other      
Sales and other operating revenues 1,931 1,861 1,737
Midstream      
Sales and other operating revenues [1] 5,628 5,197 4,911
Midstream | Refined products      
Sales and other operating revenues 2,022 1,668 1,675
Midstream | Services and other      
Sales and other operating revenues [2] 3,606 3,529 3,236
Renewable Diesel      
Sales and other operating revenues [1] 2,814 2,079 1,633
Renewable Diesel | Refined products      
Sales and other operating revenues 2,799 2,073 1,628
Renewable Diesel | Services and other      
Sales and other operating revenues 15 6 5
Corporate Segment and Other Operating Segment | Services and other      
Sales and other operating revenues $ 5 $ 0 $ 0
[1] Includes sales to related parties. See Note 7 for additional information. See Note 20 for the disaggregation of our revenue from external customers by segment and product line.
[2] Includes sales-type lease revenue. See Note 26.
v3.25.4
Revenue (Contract Balances) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]    
Matching buy/sell receivables $ 4,100 $ 4,300
Contract with Customer, Liability $ 215 $ 515
v3.25.4
Supplemental Cash Flow Information (Summary Of Supplemental Cash Flow Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Oct. 01, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Sep. 30, 2025
Net cash provided by operating activities included:          
Interest paid (net of amounts capitalized)   $ 1,219 $ 1,247 $ 1,200  
Income Tax Paid, Federal, after Refund Received [1]   333 635 2,321  
Income Tax Paid, Foreign, after Refund Received   18 6 5  
Income taxes paid to taxing authorities   406 732 2,751  
Payments on operating leases   530 532 493  
Interest payments under finance lease obligations   33 25 25  
Net cash provided by financing activities included:          
Principal payments under finance lease obligations   108 82 79  
Non-cash investing and financing activities:          
Right of use assets obtained in exchange for new operating lease obligations   724 637 465  
Right of use assets obtained in exchange for new finance lease obligations   85 302 21  
Contribution of assets   115 [2] 0 0  
Book value of equity method investment [3]   282 50 311  
Fair value of contingent consideration as of acquisition date   234 [4],[5] 0 0  
Payment to acquire transferable tax credits   332 565    
State and Local Tax Jurisdiction, Other          
Net cash provided by operating activities included:          
Income Tax Paid, State and Local, after Refund Received   33 46 327  
CALIFORNIA          
Net cash provided by operating activities included:          
Income Tax Paid, State and Local, after Refund Received   22 $ 45 $ 98  
Coastal Holdings          
Non-cash investing and financing activities:          
Book value of equity method investment $ 50        
Equity method investments, ownership percentage 50.00%       50.00%
Martinez Renewables LLC          
Non-cash investing and financing activities:          
Payment to acquire transferable tax credits   $ 221      
[1] Includes $332 million and $565 million in 2025 and 2024, respectively, paid to third parties and related parties for transferable tax credits. The 2025 total includes $221 million paid to Martinez Renewables LLC.
[2] Represents the book value of assets contributed by MPLX to a JV.
[3] 2025 and 2023 represents the book value of MPLX’s equity method investment in BANGL and Torñado, respectively, prior to MPLX buying out the remaining interest in these entities. 2024 represents the book value of Coastal Holdings prior to MPC buying out the remaining 50 percent interest from our joint venture partner. See Note 5 for additional information.
[4] Liability recorded in the third quarter of 2025 related to the BANGL Acquisition earnout provision.
[5] See Note 5 - BANGL, LLC Acquisitions
v3.25.4
Supplemental Cash Flow Information (Reconciliation Of Additions To Property, Plant And Equipment To Total Capital Expenditures) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Supplemental Cash Flow Information [Abstract]      
Additions to property, plant and equipment per the consolidated statements of cash flows $ 3,486 $ 2,533 $ 1,890
Increase in capital accruals 143 34 184
Total capital expenditures [1] $ 3,629 $ 2,567 $ 2,074
[1] Includes changes in capital expenditure accruals. See Note 21 for a reconciliation of total capital expenditures to additions to property, plant and equipment as reported in the consolidated statements of cash flows
v3.25.4
Other Current Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]    
Environmental credits liability $ 463 $ 422
Accrued interest payable 449 314
Other current liabilities 341 419
Total other current liabilities $ 1,253 $ 1,155
v3.25.4
Accumulated Other Comprehensive Loss (Changes in Accumulated Other Comprehensive Loss by Component) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]      
Accumulated other comprehensive (income) loss, other, after tax, beginning balance $ (1) $ 1 $ 0
Accumulated other comprehensive income (loss), beginning balance (114) (131) 2
Other comprehensive income (loss) before reclassifications, net of tax 17 52 (79)
Amounts reclassified from accumulated other comprehensive loss:      
Amortization of prior service cost (credit) (31) (55) (67)
Amortization of actuarial loss 17 6 (5)
Settlement (gain) loss 2 3 (1)
Other 1   (1)
Tax effect 3 11 20
Other comprehensive income (loss) 9 17 (133)
Accumulated other comprehensive (income) loss, other, after tax, ending balance (1) (1) 1
Accumulated other comprehensive income (loss), ending balance (105) (114) (131)
Other comprehensive income (loss) before reclassifications, tax 5 16 (22)
Pension Benefits      
Accumulated Other Comprehensive Income (Loss) [Roll Forward]      
Accumulated other comprehensive (income) loss, defined benefit plan, after tax, beginning balance (235) (261) (163)
Amounts reclassified from accumulated other comprehensive loss:      
Amortization of prior service cost (credit) (9) (33) (45)
Accumulated other comprehensive (income) loss, defined benefit plan, after tax, ending balance (209) (235) (261)
Other Benefits      
Accumulated Other Comprehensive Income (Loss) [Roll Forward]      
Accumulated other comprehensive (income) loss, defined benefit plan, after tax, beginning balance 122 129 165
Amounts reclassified from accumulated other comprehensive loss:      
Amortization of prior service cost (credit) (22) (22) (22)
Accumulated other comprehensive (income) loss, defined benefit plan, after tax, ending balance 105 122 129
Accumulated Defined Benefit Plans Adjustment | Pension Benefits      
Accumulated Other Comprehensive Income (Loss) [Roll Forward]      
Other comprehensive income (loss) before reclassifications, net of tax 19 44 (60)
Amounts reclassified from accumulated other comprehensive loss:      
Amortization of prior service cost (credit) [1] (9) (33) (45)
Amortization of actuarial loss [1] 17 6 (5)
Settlement (gain) loss [1] 2 3 (1)
Tax effect (3) 6 13
Other comprehensive income (loss) 26 26 (98)
Accumulated Defined Benefit Plans Adjustment | Other Benefits      
Accumulated Other Comprehensive Income (Loss) [Roll Forward]      
Other comprehensive income (loss) before reclassifications, net of tax (1) 10 (21)
Amounts reclassified from accumulated other comprehensive loss:      
Amortization of prior service cost (credit) [1] (22) (22) (22)
Amortization of actuarial loss [1] 0 0 0
Settlement (gain) loss [1] 0 0 0
Tax effect 6 5 7
Other comprehensive income (loss) (17) (7) (36)
Other      
Accumulated Other Comprehensive Income (Loss) [Roll Forward]      
Other comprehensive income (loss) before reclassifications, net of tax (1) (2) 2
Amounts reclassified from accumulated other comprehensive loss:      
Other 1   (1)
Tax effect 0 0 0
Other comprehensive income (loss) $ 0 $ (2) $ 1
[1] These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost. See Note 24.
v3.25.4
Pension and Other Postretirement Benefits (Cash Balance Pension Plan) (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Retirement Benefits [Abstract]      
Cash balance weighted average interest crediting rates 4.19% 4.56% 3.57%
v3.25.4
Pension and Other Postretirement Benefits (Accumulated Benefit Obligations) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]    
Accumulated benefit obligation $ 2,818 $ 2,579
v3.25.4
Pension and Other Postretirement Benefits (Summary Of Projected Benefit Obligations And Funded Status For Defined Benefit Pension And Other Postretirement Plans) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Fair value of plan assets at January 1 $ 2,158    
Fair value of plan assets at December 31 2,399 $ 2,158  
Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Benefit obligations at January 1 2,685 2,563  
Service cost 220 219  
Interest cost 144 122 $ 116
Actuarial (gain) loss 109 (32)  
Benefits paid (226) (187)  
Benefit obligations at December 31 2,932 2,685 2,563
Fair value of plan assets at January 1 2,158 2,082  
Actual return on plan assets 267 161  
Employer contributions 200 102  
Benefits paid from plan assets (226) (187)  
Fair value of plan assets at December 31 2,399 2,158 2,082
Funded status at December 31 (533) (527)  
Other Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Benefit obligations at January 1 669 679  
Service cost 20 21  
Interest cost 35 32 31
Actuarial (gain) loss 4 (14)  
Benefits paid (50) (49)  
Benefit obligations at December 31 678 669 679
Fair value of plan assets at January 1 0 0  
Actual return on plan assets 0 0  
Employer contributions 50 49  
Benefits paid from plan assets (50) (49)  
Fair value of plan assets at December 31 0 0 $ 0
Funded status at December 31 $ (678) $ (669)  
v3.25.4
Pension and Other Postretirement Benefits (Amounts Recognized in Consolidated Balance Sheet) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]    
Defined benefit postretirement plan obligations $ (1,173) $ (1,157)
Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Noncurrent assets 23 22
Current liabilities (10) (11)
Defined benefit postretirement plan obligations (546) (538)
Accrued benefit cost (533) (527)
Other Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Noncurrent assets 0 0
Current liabilities (51) (50)
Defined benefit postretirement plan obligations (627) (619)
Accrued benefit cost $ (678) $ (669)
v3.25.4
Pension and Other Postretirement Benefits (Before Tax Amounts Unrecognized in Net Periodic Benefit Cost Included in AOCI) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Net actuarial (gain) loss $ 367 $ 404
Prior service credit (27) (36)
Pension Benefits | LOOP LLC and Explorer Pipeline    
Defined Benefit Plan Disclosure [Line Items]    
Net actuarial (gain) loss 1  
Other Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Net actuarial (gain) loss 40 36
Prior service credit (159) $ (181)
Other Benefits | LOOP LLC and Explorer Pipeline    
Defined Benefit Plan Disclosure [Line Items]    
Net actuarial (gain) loss $ 7  
v3.25.4
Pension and Other Postretirement Benefits (Components Of Net Periodic Benefit Cost And Other Comprehensive (Income) Loss) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]      
Amortization of prior service credit $ 31 $ 55 $ 67
Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Service cost 224 227 201
Interest cost 144 122 116
Expected return on plan assets (144) (146) (163)
Amortization of prior service credit (9) (33) (45)
Amortization of actuarial (gain) loss 17 6 (5)
Settlement (gain) loss 2 3 (1)
Net periodic benefit cost [1] 234 179 103
Actuarial (gain) loss (18) (54) 75
Amortization of prior service credit 9 33 45
Total recognized in other comprehensive (income) loss (28) (30) 126
Total recognized in net periodic benefit cost and other comprehensive loss 206 149 229
Amortization of actuarial gain (loss) 19 9 (6)
Other Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Service cost 20 21 18
Interest cost 35 32 31
Expected return on plan assets 0 0 0
Amortization of prior service credit (22) (22) (22)
Amortization of actuarial (gain) loss 0 0 0
Settlement (gain) loss 0 0 0
Net periodic benefit cost [1] 33 31 27
Actuarial (gain) loss 4 (15) 31
Amortization of prior service credit 22 22 22
Total recognized in other comprehensive (income) loss 26 7 53
Total recognized in net periodic benefit cost and other comprehensive loss 59 38 80
Amortization of actuarial gain (loss) $ 0 $ 0 $ 0
[1] Net periodic benefit cost reflects a calculated market-related value of plan assets which recognizes changes in fair value over three years.
v3.25.4
Pension and Other Postretirement Benefits (Summary Of Assumptions Used To Determine Benefit Obligations And Net Periodic Benefit Cost) (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension Benefits      
Benefit obligation:      
Discount rate 5.25% 5.55% 4.85%
Rate of compensation increase 3.83% 4.18% 4.18%
Net periodic benefit cost:      
Discount rate 5.53% 4.85% 5.10%
Expected long-term return on plan assets 7.10% 6.80% 7.00%
Rate of compensation increase 3.83% 4.18% 4.18%
Other Benefits      
Benefit obligation:      
Discount rate 5.40% 5.58% 4.88%
Rate of compensation increase 3.83% 4.18% 4.18%
Net periodic benefit cost:      
Discount rate 5.58% 4.88% 5.08%
Expected long-term return on plan assets 0.00% 0.00% 0.00%
Rate of compensation increase 3.83% 4.18% 4.18%
v3.25.4
Pension and Other Postretirement Benefits (Expected Long-Term Return on Plan Assets) (Details)
 12 Months Ended
Dec. 31, 2025
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Defined benefit plan, plan assets, expected long-term rate-of-return, description The overall expected long-term return on plan assets assumption is determined based on an asset rate-of-return modeling tool developed by a third-party investment group. The tool utilizes underlying assumptions based on actual returns by asset category and inflation and takes into account our asset allocation to derive an expected long-term rate of return on those assets. Capital market assumptions reflect the long-term capital market outlook. The assumptions for equity and fixed income investments are developed using a building-block approach, reflecting observable inflation information and interest rate information available in the fixed income markets. Long-term assumptions for other asset categories are based on historical results, current market characteristics and the professional judgment of our internal and external investment teams
v3.25.4
Pension and Other Postretirement Benefits (Summarizes Assumed Health Care Cost Trend Rates) (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Medical Pre-65      
Defined Benefit Plan Disclosure [Line Items]      
Health care cost trend rate assumed for the following year: 7.80% 7.90% 7.70%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate): 4.50% 4.50% 4.50%
Year that the rate reaches the ultimate trend rate: 2035 2034 2032
Prescription drugs      
Defined Benefit Plan Disclosure [Line Items]      
Health care cost trend rate assumed for the following year: 13.30% 12.50% 10.80%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate): 4.50% 4.50% 4.50%
Year that the rate reaches the ultimate trend rate: 2035 2034 2032
v3.25.4
Pension and Other Postretirement Benefits (Plan Investment Policies And Strategies) (Details)
 12 Months Ended
Dec. 31, 2025
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Defined benefit plan, investment goals The investment policies for our pension plan assets reflect the funded status of the plans and expectations regarding our future ability to make further contributions. Long-term investment goals are to: (1) manage the assets in accordance with the legal requirements of all applicable laws; (2) diversify plan investments across asset classes to achieve an optimal balance between risk and return and between income and growth of assets through capital appreciation; and (3) source benefit payments primarily through existing plan assets and anticipated future returns.The investment goals are implemented to manage the plans’ funded status volatility and minimize future cash contributions. The asset allocation strategy will change over time in response to changes primarily in funded status, which is dictated by current and anticipated market conditions, the independent actions of our investment committee, required cash flows to and from the plans and other factors deemed appropriate. Such changes in asset allocation are intended to allocate additional assets to the fixed income asset class should the funded status improve. The fixed income asset class shall be invested in such a manner that its interest rate sensitivity correlates highly with that of the plans’ liabilities. Other asset classes are intended to provide additional return with associated higher levels of risk. Investment performance and risk is measured and monitored on an ongoing basis through quarterly investment meetings and periodic asset and liability studies
Equity Securities  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Targeted asset allocation 50.00%
Fixed Income Securities  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Targeted asset allocation 50.00%
v3.25.4
Pension and Other Postretirement Benefits (Fair Values Of Defined Benefit Pension Plan Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value $ 2,399 $ 2,158
Level 1    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 384 177
Level 2    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 2,000 1,961
Level 3    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 15 20
Cash and Cash Equivalents [Member]    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 74 62
Cash and Cash Equivalents [Member] | Level 1    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Cash and Cash Equivalents [Member] | Level 2    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 74 62
Cash and Cash Equivalents [Member] | Level 3    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Common stocks    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 53 52
Common stocks | Level 1    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 53 52
Common stocks | Level 2    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Common stocks | Level 3    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Mutual funds    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 141 125
Mutual funds | Level 1    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 141 125
Mutual funds | Level 2    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Mutual funds | Level 3    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Pooled funds    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 953 871
Pooled funds | Level 1    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Pooled funds | Level 2    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 953 871
Pooled funds | Level 3    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Corporate Debt Securities [Member]    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 675 637
Corporate Debt Securities [Member] | Level 1    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Corporate Debt Securities [Member] | Level 2    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 675 637
Corporate Debt Securities [Member] | Level 3    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Government    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 166 267
Government | Level 1    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Government | Level 2    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 166 267
Government | Level 3    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Pooled funds    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 124 117
Pooled funds | Level 1    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Pooled funds | Level 2    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 124 117
Pooled funds | Level 3    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Private equity    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 6 9
Private equity | Level 1    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Private equity | Level 2    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Private equity | Level 3    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 6 9
Real estate    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 9 11
Real estate | Level 1    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Real estate | Level 2    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Real estate | Level 3    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 9 11
Other    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 8 7
Other | Level 1    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Other | Level 2    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 8 7
Other | Level 3    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Exchange Traded Funds    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 190 0
Exchange Traded Funds | Level 1    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 190 0
Exchange Traded Funds | Level 2    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value 0 0
Exchange Traded Funds | Level 3    
Defined Benefit Plan, Plan Assets, Allocation [Line Items]    
Plan asset investments, at fair value $ 0 $ 0
v3.25.4
Pension and Other Postretirement Benefits (Contributions To Defined Plans) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Contributions to defined contribution plans $ 192 $ 181 $ 176
Pension Benefits      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Pension contributions $ 191    
Expected future employer contributions, next fiscal year, description For 2026, we estimate required funding of $263 million, but we may also make voluntary contributions to our funded pension plans at our discretion.    
Unfunded Pension Plan      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined benefit plans, estimated future employer contributions in next fiscal year $ 10    
Other Benefits      
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]      
Defined benefit plans, estimated future employer contributions in next fiscal year $ 51    
v3.25.4
Pension and Other Postretirement Benefits (Estimated Future Benefit Payments) (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Pension Benefits  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
2026 $ 228
2027 243
2028 250
2029 260
2030 266
2031 through 2035 1,506
Other Benefits  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
2026 51
2027 52
2028 53
2029 55
2030 55
2031 through 2035 $ 285
v3.25.4
Pension and Other Postretirement Benefits (Multiemployer Pension Plan) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
employee
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Multiemployer Plan [Line Items]      
Multiemployer Plan, Pension, Insignificant, Certified Zone Status [Fixed List] Red Red  
Funding improvement plan and rehabilitation plan Implemented    
Surcharge - imposed No    
Multiemployer Plans, Minimum Contribution, Description This agreement has a minimum contribution requirement of $561 per week per employee for 2026.    
Number of employees participated in the plan | employee 254    
Pension Benefits      
Multiemployer Plan [Line Items]      
Multiemployer Plans, General Nature We contribute to one multiemployer defined benefit pension plan under the terms of a collective-bargaining agreement that covers some of our union-represented employees. The risks of participating in this multiemployer plan are different from single-employer plans in the following aspects:•Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers.•If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers.•If we choose to stop participating in the multiemployer plan, we may be required to pay that plan an amount based on the underfunded status of the plan, referred to as a withdrawal liability.    
Pension Benefits | Central States, Southeast and Southwest Pension Plan      
Multiemployer Plan [Line Items]      
Multiemployer Plan, Pension, Insignificant, Employer Contribution, Cost | $ $ 4 [1] $ 3 $ 5
[1] This agreement has a minimum contribution requirement of $561 per week per employee for 2026. A total of 254 employees participated in the plan as of December 31, 2025.
v3.25.4
Pension and Other Postretirement Benefits (Multiemployer Health and Welfare Plans) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Employer contribution cost $ 7 $ 5 $ 7
v3.25.4
Share-Based Compensation (Narrative) (Details)
shares in Millions
 12 Months Ended
Dec. 31, 2025
shares
Stock Options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Vesting period of awards 3 years
Expiration period of awards 10 years
Terms of award Prior to 2021, we granted stock options to certain officer and non-officer employees under the MPC 2011 Plan and the MPC 2012 Plan. Stock options represent the right to purchase shares of our common stock at an exercise price equal to the closing price of our common stock on the date of grant. Stock options generally vest over a service period of three years and expire ten years after the grant date. We expensed stock options based on the grant date fair value of the awards over the requisite service period, adjusted for estimated forfeitures. We used the Black Scholes option-pricing model to estimate the fair value of stock options granted, which requires the input of subjective assumptions
Restricted Stock Awards and Restricted Stock Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Terms of award We grant restricted stock unit awards to certain employees and to our non-employee directors. Vested restricted stock units are distributed in shares of MPC’s common stock on the dates specified in the awards. The number of restricted stock units granted pursuant to each award is determined by dividing the target value of the award by MPC’s common stock average 30-day closing price prior to the grant date. In general, restricted stock units granted to employees vest over a requisite service period of three years. Restricted stock units granted to non-employee directors prior to May 1, 2025 were considered to vest immediately at the time of the grant for accounting purposes, as they were non-forfeitable as of the grant date and distributed upon the director’s departure from the board of directors. Restricted stock units granted to non-employee directors after April 30, 2025 are fully earned at the grant date but are subject to proration if the director departs from the board of directors prior to the one-year anniversary of the grant date. These awards are considered to vest over the one-year service period for accounting purposes. For restricted stock units granted to a non-employee director after April 30, 2025, the director may elect to defer distributions until the director’s departure from the board of directors; if no deferral election is made the restricted stock units are distributed following the one-year anniversary of the grant date. Restricted stock unit recipients do not have the right to vote any shares of stock and accrue dividend equivalents which when vested are payable on the dates specified in the awards. Accrued dividend equivalents on vested employee awards are paid in cash. Accrued dividend equivalents on vested non-employee director awards are settled in shares of MPC common stock. We expense restricted stock units based on the grant date fair value of the awards over the requisite service period, adjusted for estimated forfeitures. The fair values of restricted stock units are equal to the market price of our common stock on the grant date.
Restricted Stock Awards and Restricted Stock Units | Maximum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Vesting period of awards 3 years
MPC 2021 Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Number of shares of common stock authorized to be delivered under the compensation plan 20.5
MPC 2021 Plan | Performance Share Unit Awards  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Terms of award We grant performance share unit awards to certain officer and non-officer employees. At grant, a performance share unit has a target value equal to the MPC common stock average 30-day closing price prior to the grant date. The actual payout value of a performance share unit is based on company performance (which can range from 0 percent to 200 percent) for the three-year performance period beginning January 1 of the year of grant, multiplied by, for the awards granted in 2022, MPC’s closing share price on the date the Committee certifies performance; and for the awards granted in 2023, 2024 and 2025, MPC’s average closing share price for the final thirty calendar days at the end of the performance period. For awards granted in 2022 through 2024, and for two-thirds of the value of the awards granted in 2025 Company performance for purposes of payout will be determined by the relative ranking of the total shareholder return (“TSR”) of MPC common stock over the three-year performance period compared to the TSR of a select group of peer companies, the Standard & Poor’s 500 Index, the Alerian MLP Index, as well as the median of MPC’s compensation reference group applicable for the year the award is granted. For the remaining one-third of the value of the awards granted in 2025, Company performance for purposes of payout will be determined by MPC’s relative change in free cash flow (“FCF”) per share generated during the performance period compared to the FCF of a select group of peer companies. These awards settle 100 percent in cash and are accounted for as liability awards. We expense liability-classified performance share unit awards at fair value over the requisite service period, with mark-to-market adjustments made each quarter until payout occurs. The fair value of the TSR service condition is determined using a Monte Carlo valuation model. The fair value of the FCF performance condition is valued using management’s current estimate of the most probable payout percentage.Significant assumptions used in our Monte Carlo valuation models include: 1) risk free interest rate, for which we utilize the treasury rate for the time period closest to the remaining performance period of the award being valued; 2) look-back period (in years), for which we utilize the remaining performance period of the award being valued; and 3) expected volatility, for which we utilize the historical volatility of our own stock and the stock of our peer group for the look-back period previously discussed. In general, performance share units granted to officers have a vesting service period beginning on the grant date and ending on the last day of the three-year performance period, and performance share units granted to employees outside of our senior management vest in one-third increments at the end of each calendar year of the performance period. However, certain employees are eligible to vest in some awards earlier, subject to reaching certain age and employment milestones, with payout still occurring at the end of the original performance period.
v3.25.4
Share-Based Compensation (Stock-Based Compensation Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]      
Share-based compensation expense $ 160 $ 137 $ 211
Tax benefit recognized on share-based compensation expense 38 33 51
Cash received by MPC upon exercise of stock option awards 24 25 62
Tax benefit received for tax deductions for stock awards exercised $ 6 $ 28 $ 49
v3.25.4
Share-Based Compensation (Summary Of Stock Option Award Activity) (Details) - Stock Options - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Intrinsic value of options exercised $ 35 $ 75 $ 136
Unrecognized compensation cost $ 0    
Number of Shares      
Outstanding, beginning balance 506,060    
Exercised (381,401)    
Outstanding, ending balance 124,659 [1] 506,060  
Vested and expected to vest at December 31, 2024 (in shares) [1] 124,659    
Exercisable at December 31, 2024 (in shares) [1] 124,659    
Weighted Average Exercise Price      
Outstanding, beginning balance (in USD per share) $ 57.50    
Exercised (in USD per share) 62.50    
Outstanding, ending balance (in USD per share) 42.17 [1] $ 57.50  
Vested and expected to vest at December 31, 2024 (in USD per share) [1] 42.17    
Exercisable at December 31, 2024 (in USD per share) [1] $ 42.17    
Weighted Average Remaining Contractual Terms (in years)      
Vested and expected to vest at December 31, 2024 [1] 3 years 6 months    
Exercisable at December 31, 2024 (in years) [1] 3 years 6 months    
Aggregate Intrinsic Value (Millions of dollars)      
Vested and expected to vest at December 31, 2024 (in USD) [1] $ 15    
Exercisable at December 31, 2024 (in USD) [1] $ 15    
[1] All options outstanding at December 31, 2025 are fully vested and exercisable
v3.25.4
Share-Based Compensation (Summary Of Restricted Stock Award Activity) (Details) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restricted Stock Units (RSUs) [Member]      
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Unvested, beginning balance 1,033,269    
Granted 564,679    
Vested (424,718)    
Forfeited (62,801)    
Unvested, ending balance 1,110,429 1,033,269  
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]      
Unvested, beginning balance (in USD per share) $ 142.08    
Granted (in USD per share) 159.47 $ 171.55 $ 133.94
Vested (in USD per share) 120.03    
Forfeited (in USD per share) 152.07    
Unvested, ending balance (in USD per share) $ 158.79 $ 142.08  
Restricted Stock Awards and Restricted Stock Units | Maximum      
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]      
Vesting period of awards 3 years    
v3.25.4
Share-Based Compensation (Summary Of Values Related To Vested And Unvested Restricted Stock Awards) (Details) - Restricted Stock Units (RSUs) [Member] - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested $ 71 $ 102 $ 144
Granted (in USD per share) $ 159.47 $ 171.55 $ 133.94
Unrecognized compensation cost $ 98    
Weighted average recognition period, in years 1 year 10 months 24 days    
v3.25.4
Share-Based Compensation (Summary of Performance Award Activity) (Details) - Performance Share Unit Awards
 12 Months Ended
Dec. 31, 2025
shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]  
Unvested, beginning balance 427,348
Granted 303,688
Vested (271,706)
Forfeited (17,499)
Unvested, ending balance 441,831
v3.25.4
Share-Based Compensation (Performance Awards) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Performance Share Unit Awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based liabilities paid $ 122    
Unrecognized compensation cost $ 19    
Weighted average recognition period, in years 1 year 3 months 18 days    
Deferred compensation share-based arrangements, liability, current and noncurrent $ 151    
Performance Unit Awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based liabilities paid   $ 169 $ 14
v3.25.4
Leases (Lessee Narrative) (Details)
 12 Months Ended
Dec. 31, 2025
Minimum  
Term of agreements 1 year
Renewal term agreement 1 year
Maximum  
Term of agreements 93 years
Renewal term agreement 40 years
v3.25.4
Leases (Components of Lease Costs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Finance lease cost:      
Amortization of right of use assets $ 102 $ 80 $ 73
Interest on lease liabilities 33 26 25
Operating lease cost 541 534 489
Variable lease cost 68 60 54
Short-term lease cost 964 952 881
Total lease cost $ 1,708 $ 1,652 $ 1,522
v3.25.4
Leases (Supplemental Balance Sheet Disclosure) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Assets    
Right of use assets, net $ 1,493 $ 1,300
Liabilities    
Operating lease liabilities 489 417
Long-term operating lease liabilities 993 860
Total operating lease liabilities $ 1,482 $ 1,277
Weighted average remaining lease term (in years) 4 years 4 years
Weighted average discount rate 4.50% 4.40%
Assets    
Property, plant and equipment, gross $ 1,183 $ 1,118
Less accumulated depreciation 608 510
Property, plant and equipment, net $ 575 $ 608
Liabilities    
Debt due within one year Debt due within one year Debt due within one year
Finance lease, liability, current $ 105 $ 94
Long-term debt Long-term debt Long-term debt
Finance lease, liability, noncurrent $ 590 $ 630
Finance lease obligations Long-term debt, Debt due within one year Long-term debt, Debt due within one year
Finance lease obligations $ 695 $ 724
Weighted average remaining lease term (in years) 8 years 9 years
Weighted average discount rate 4.80% 4.80%
v3.25.4
Leases (Schedule Of Future Minimum Commitments) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Operating    
2026 $ 544  
2027 397  
2028 288  
2029 172  
2030 98  
2031 and thereafter 128  
Gross lease payments 1,627  
Less: imputed interest 145  
Total operating lease liabilities 1,482 $ 1,277
Finance    
2026 135  
2027 123  
2028 108  
2029 90  
2030 79  
2031 and thereafter 312  
Gross lease payments 847  
Less: imputed interest 152  
Total finance lease liabilities $ 695 $ 724
v3.25.4
Leases (Lessor -Lease Revenues) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating leases:      
Rental income $ 268 $ 260 $ 243
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration] Sales and other operating revenues Sales and other operating revenues Sales and other operating revenues
Sales-type leases:      
Interest income (Sales-type rental revenue-fixed minimum) $ 113 $ 114 $ 114
Interest income (Revenue from variable lease payments) 38 22 22
Sales-type lease revenue $ 151 $ 136 $ 136
v3.25.4
Leases (Minimum Future Rentals On The Non-Cancellable Operating Leases) (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Leases [Abstract]  
2026 $ 111
2027 86
2028 78
2029 77
2030 63
2031 and thereafter 191
Total minimum future rentals $ 606
v3.25.4
Leases (Lease Receivables - Sales-type Leases) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement [Line Items]      
2026 $ 181    
2027 163    
2028 154    
2029 146    
2030 138    
2031 and thereafter 903    
Total minimum future rentals 1,685    
Less: imputed interest 691    
Lease receivables [1] 994    
Unguaranteed residual assets 117    
Total sales-type lease assets 1,111    
Reclassification, Other      
Statement [Line Items]      
Capital expenditures related to assets subject to sales-type lease arrangements 137 $ 69 $ 50
Receivables      
Statement [Line Items]      
Lease receivables [2] 108    
Other noncurrent assets      
Statement [Line Items]      
Lease receivables [3] $ 886    
[1] This amount does not include the unguaranteed residual assets.
[2] Presented in receivables, net on the consolidated balance sheets.
[3] Presented in other noncurrent assets on the consolidated balance sheets.
v3.25.4
Leases (Investments In Assets Held For Operating Lease By Major Classes) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Operating Leased Assets [Line Items]    
Property, plant and equipment $ 1,424 $ 1,283
Less accumulated depreciation 567 458
Total property, plant and equipment, net 857 825
Gathering and transportation    
Operating Leased Assets [Line Items]    
Property, plant and equipment 111 86
Processing and fractionation    
Operating Leased Assets [Line Items]    
Property, plant and equipment 1,017 1,039
Pipelines    
Operating Leased Assets [Line Items]    
Property, plant and equipment 6 18
Refining Logistics    
Operating Leased Assets [Line Items]    
Property, plant and equipment 277 0
Terminals    
Operating Leased Assets [Line Items]    
Property, plant and equipment 1 129
Land, building and other    
Operating Leased Assets [Line Items]    
Property, plant and equipment $ 12 $ 11
v3.25.4
Commitments and Contingencies (Environmental Matters) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Accrued liabilities for remediation $ 355 $ 364
Environmental loss contingency, statement of financial position [extensible enumeration] Deferred credits and other liabilities, Other current liabilities Deferred credits and other liabilities, Other current liabilities
Receivables for recoverable costs $ 4 $ 6
v3.25.4
Commitments and Contingencies (Asset Retirement Obligations) (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Asset retirement obligation, current $ 37 $ 36
Asset retirement obligations, noncurrent $ 225 $ 210
v3.25.4
Commitments and Contingencies (Other Legal Proceedings) (Details) - USD ($)
$ in Millions
 1 Months Ended
Dec. 31, 2020
Jul. 31, 2020
Commitments and Contingencies Disclosure [Abstract]    
Loss contingency, damages sought, value   $ 187
Loss contingency, damages paid, value $ 4  
v3.25.4
Commitments and Contingencies (Guarantees) (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Financial Guarantee | Guarantee of Indebtedness of Others | LOOP and LOCAP LLC  
Loss Contingencies [Line Items]  
Maximum potential undiscounted payments $ 210
Financial Guarantee | Guarantee of Indebtedness of Others | Bakken Pipeline System  
Loss Contingencies [Line Items]  
Maximum potential undiscounted payments 78
Other Guarantees  
Loss Contingencies [Line Items]  
Maximum potential undiscounted payments $ 186
Indirect | Bakken Pipeline System  
Loss Contingencies [Line Items]  
Equity method investments, ownership percentage 9.19%
v3.25.4
Commitments and Contingencies (Contractual Commitments and Contingencies) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]    
Contractual commitments to acquire property, plant and equipment and advance funds to equity method investees $ 453 $ 260
v3.25.4
Subsequent Events (Details) - MPLX - Senior Notes - USD ($)
$ in Millions
Mar. 01, 2026
Dec. 01, 2024
Feb. 12, 2026
Aug. 11, 2025
Mar. 10, 2025
Subsequent Event [Line Items]          
Debt instrument, face amount       $ 4,500 $ 2,000
Repayments of debt   $ 1,150      
Subsequent Event          
Subsequent Event [Line Items]          
Debt instrument, face amount     $ 1,500    
Subsequent Event | Senior notes, 5.300% Due April 2036          
Subsequent Event [Line Items]          
Debt instrument, face amount     1,000    
Subsequent Event | Senior notes, 6.100% due April 2056          
Subsequent Event [Line Items]          
Debt instrument, face amount     $ 500    
Subsequent Event | Senior notes, 1.750% due March 2026          
Subsequent Event [Line Items]          
Repayments of debt $ 1,500