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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 3,175 $ 5,443
Short-term investments 4,399 4,781
Receivables, less allowance for doubtful accounts of $50 and $44, respectively 13,171 12,187
Inventories 9,781 9,317
Other current assets 734 403
Total current assets 31,260 32,131
Equity method investments 6,831 6,260
Property, plant and equipment, net 34,963 35,112
Goodwill 8,244 8,244
Right of use assets 1,255 1,233
Other noncurrent assets 2,975 3,007
Total assets 85,528 85,987 CloseClose
Liabilities    
Accounts payable 15,471 13,761
Payroll and benefits payable 1,180 1,115
Accrued taxes 1,243 1,221
Debt due within one year 2,457 1,954
Operating lease liabilities 472 454
Other current liabilities 964 1,645
Total current liabilities 21,787 20,150
Long-term debt 24,832 25,329
Deferred income taxes 5,831 5,834
Defined benefit postretirement plan obligations 1,182 1,102
Long-term operating lease liabilities 770 764
Deferred credits and other liabilities 1,355 1,409
Total liabilities 55,757 54,588 CloseClose
Commitments and contingencies (see Note 23)
Redeemable noncontrolling interest 561 895 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 993 million shares (par value $0.01 per share, 2 billion shares authorized) 10 10
Held in treasury, at cost – 638 million and 625 million shares (45,674) (43,502)
Additional paid-in capital 33,530 33,465
Retained earnings 35,199 34,562
Accumulated other comprehensive loss (143) (131)
Total MPC stockholders’ equity 22,922 24,404
Noncontrolling interests 6,288 6,100
Total equity 29,210 30,504 CloseClose
Total liabilities, redeemable noncontrolling interest and equity $ 85,528 $ 85,987