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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents $ 5,443 $ 8,625
Short-term investments 4,781 3,145
Receivables, less allowance for doubtful accounts of $44 and $29, respectively 11,619 13,477
Inventories 9,317 8,827
Other current assets 971 1,168
Total current assets 32,131 35,242
Equity method investments 6,260 6,466
Property, plant and equipment, net [1] 35,112 35,657
Goodwill 8,244 8,244
Right of use assets 1,233 1,214
Other noncurrent assets 3,007 3,081
Total assets 85,987 89,904 Close
Liabilities    
Accounts payable 13,761 15,312
Payroll and benefits payable 1,115 967
Accrued taxes 1,221 1,140
Debt due within one year 1,954 1,066
Operating lease liabilities 454 368
Other current liabilities 1,645 1,167
Total current liabilities 20,150 20,020
Long-term debt 25,329 25,634
Deferred income taxes 5,834 5,904
Defined benefit postretirement plan obligations 1,102 1,114
Long-term operating lease liabilities 764 841
Deferred credits and other liabilities 1,409 1,304
Total liabilities 54,588 54,817 Close
Commitments and contingencies (see Note 28)
Redeemable noncontrolling interest 895 968 Close
Equity    
Preferred stock, no shares issued and outstanding (par value $0.01 per share, 30 million shares authorized) 0 0
Common stock:    
Issued – 993 million and 990 million shares (par value $0.01 per share, 2 billion shares authorized) 10 10
Held in treasury, at cost – 625 million and 536 million shares (43,502) (31,841)
Additional paid-in capital 33,465 33,402
Retained earnings 34,562 26,142
Accumulated other comprehensive income (loss) (131) 2
Total MPC stockholders’ equity 24,404 27,715
Noncontrolling interests 6,100 6,404
Total equity 30,504 34,119 Close
Total liabilities, redeemable noncontrolling interest and equity $ 85,987 $ 89,904
[1] Includes finance leases. See Note 27.