v3.25.3

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 2,654	$ 3,210
Receivables, less allowance for expected credit loss of $20 and $73, respectively	10,487	11,145
Inventories	9,829	9,568
Other current assets	626	524
Assets held for sale	1,034	0
Total current assets	24,630	24,447
Equity method investments	6,900	6,857
Property, plant and equipment, net	36,984	35,028
Goodwill	9,331	8,244
Intangibles, net	2,749	1,774
Right of use assets, net	1,373	1,300
Other noncurrent assets	1,273	1,208
Total assets	83,240	78,858
Liabilities
Accounts payable	12,486	13,906
Payroll and benefits payable	968	1,096
Accrued taxes	1,381	1,204
Debt due within one year	1,612	3,049
Operating lease liabilities	441	417
Other current liabilities	1,610	1,155
Liabilities held for sale	230	0
Total current liabilities	18,728	20,827
Long-term debt	31,232	24,432
Deferred income taxes	5,964	5,771
Defined benefit postretirement plan obligations	1,132	1,157
Long-term operating lease liabilities	918	860
Deferred credits and other liabilities	1,377	1,305
Total liabilities	59,351	54,352
Commitments and contingencies (see Note 22)
Redeemable noncontrolling interest	0	203
Equity [Abstract]
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 – 693 million and 678 million shares	(55,016)	(52,623)
Additional paid-in capital	33,695	33,624
Retained earnings	38,517	36,848
Accumulated other comprehensive loss	(109)	(114)
Total MPC stockholders’ equity	17,097	17,745
Noncontrolling interests	6,792	6,558
Total equity	23,889	24,303
Total liabilities, redeemable noncontrolling interest and equity	$ 83,240	$ 78,858

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Marathon Petroleum Corp 10-Q