Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
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| Revenues and other income: | ||||||||
| Sales and other operating revenues | $ 36,343 | $ 53,795 | $ 71,207 | [1] | $ 91,853 | [1] | ||
| Income from equity method investments | 199 | 147 | 332 | 289 | ||||
| Net gain on disposal of assets | 13 | 39 | 16 | 21 | ||||
| Other income | 269 | 257 | 346 | 459 | ||||
| Total revenues and other income | 36,824 | 54,238 | 71,901 | 92,622 | ||||
| Costs and expenses: | ||||||||
| Cost of revenues (excludes items below) | 31,762 | 44,207 | 61,056 | 79,275 | ||||
| Depreciation and amortization | 834 | 819 | 1,634 | 1,624 | ||||
| Selling, general and administrative expenses | 704 | 694 | 1,395 | 1,297 | ||||
| Other taxes | 219 | 190 | 450 | 382 | ||||
| Total costs and expenses | 33,519 | 45,910 | 64,535 | 82,578 | | |||
| Income from operations | 3,305 | 8,328 | 7,366 | 10,044 | | |||
| Net interest and other financial costs | 142 | 312 | 296 | 574 | ||||
| Income before income taxes | 3,163 | 8,016 | 7,070 | 9,470 | ||||
| Provision for income taxes | 583 | 1,799 | 1,406 | 2,081 | ||||
| Net income | 2,580 | 6,217 | 5,664 | 7,389 | ||||
| Less net income attributable to: | ||||||||
| Redeemable noncontrolling interest | 23 | 21 | 46 | 42 | ||||
| Noncontrolling interests | 331 | 323 | 668 | 629 | ||||
| Net income attributable to MPC | $ 2,226 | $ 5,873 | $ 4,950 | $ 6,718 | ||||
| Basic: | ||||||||
| Net income attributable to MPC per share | $ 5.34 | $ 11.03 | $ 11.49 | $ 12.24 | ||||
| Weighted average shares outstanding | 417 | 532 | 430 | 549 | ||||
| Diluted: | ||||||||
| Net income attributable to MPC per share | $ 5.32 | $ 10.95 | $ 11.44 | $ 12.15 | ||||
| Weighted average shares outstanding | 419 | 536 | 432 | 553 | ||||
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- Definition Total revenues and other income is the sum of sales and other operating revenues (including consumer excise taxes), income from equity method investments, net gain on disposal of assets, and other income. No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of gain (loss) on sale or disposal of assets, including but not limited to property plant and equipment, intangible assets and equity in securities of subsidiaries or equity method investee. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Interest and debt related expenses associated with nonoperating financing activities of the entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Portion of net income (loss) attributable to nonredeemable noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of Net Income (Loss) attributable to redeemable noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The total amount of other operating income, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition All taxes not related to income of the entity or excise or sales taxes levied on the revenue of the entity that are not reported elsewhere. These taxes could include production, real estate, personal property, and pump tax. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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