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Segment Information (Tables)

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Income From Operations Attributable To Operating Segments

Segment income represents income from operations attributable to the reportable segments. Corporate administrative expenses, except for those attributable to MPLX, and costs related to certain non-operating assets are not allocated to the reportable segments. In addition, certain items that affect comparability (as determined by the chief operating decision maker) are not allocated to the reportable segments.

(In millions)	Refining & Marketing				Speedway				Midstream				Total
Three Months Ended March 31, 2017
Revenues:
Customer	$	11,373			$	4,383			$	532			$	16,288
Intersegment(a)	2,590				1				344				2,935
Segment revenues	$	13,963			$	4,384			$	876			$	19,223
Segment income (loss) from operations(b)	$	(70	)		$	135			$	309			$	374
Income from equity method investments	2				13				42				57
Depreciation and amortization(c)	267				64				191				522
Capital expenditures and investments(d)(e)	192				35				1,070				1,297

(In millions)	Refining & Marketing				Speedway				Midstream				Total
Three Months Ended March 31, 2016
Revenues:
Customer	$	8,406			$	3,950			$	399			$	12,755
Intersegment(a)	2,165				1				232				2,398
Segment revenues	$	10,571			$	3,951			$	631			$	15,153
Segment income (loss) from operations(b)	$	(86	)		$	167			$	189			$	270
Income (loss) from equity method investments	(1		)		—				23				22
Depreciation and amortization(c)	273				63				140				476
Capital expenditures and investments(d)	243				50				350				643

^(a)  Management believes intersegment transactions were conducted under terms comparable to those with unaffiliated parties.

^(b)  Corporate overhead expenses attributable to MPLX are included in the Midstream segment. Corporate overhead expenses are not allocated to the Refining & Marketing and Speedway segments.

^(c)  Differences between segment totals and MPC totals represent amounts related to unallocated items and are included in “Items not allocated to segments” in the reconciliation below.

^(d)  Capital expenditures include changes in capital accruals, acquisitions (including any goodwill) and investments in affiliates.

^(e)  In the first quarter of 2017, the Midstream segment includes $220 million for the acquisition of the Ozark pipeline and an investment of $500 million in MarEn Bakken related to the Bakken Pipeline system.

Reconciliation Of Segment Income From Operations To Income Before Income Taxes

The following reconciles segment income from operations to income before income taxes as reported in the consolidated statements of income:

	Three Months Ended   March 31,
(In millions)	2017				2016
Segment income from operations	$	374			$	270
Items not allocated to segments:
Corporate and other unallocated items(a)	(82		)		(65		)
Pension settlement expenses	—				(1		)
Impairments(b)	—				(129		)
Net interest and other financial income (costs)	(150		)		(142		)
Income (loss) before income taxes	$	142			$	(67	)

^(a)  Corporate and other unallocated items consists primarily of MPC’s corporate administrative expenses and costs related to certain non-operating assets, except for corporate overhead expenses attributable to MPLX, which are included in the Midstream segment. Corporate overhead expenses are not allocated to the Refining & Marketing and Speedway segments.

^(b)  See Note 14 for further information on the impairment of goodwill in the three months ended March 31, 2016.

Reconciliation Of Segment Capital Expenditures And Investments To Total Capital Expenditures

The following reconciles segment capital expenditures and investments to total capital expenditures:

	Three Months Ended   March 31,
(In millions)	2017				2016
Segment capital expenditures and investments	$	1,297			$	643
Less investments in equity method investees(a)	566				209
Plus items not allocated to segments:
Corporate and Other	16				24
Capitalized interest	12				17
Total capital expenditures(b)	$	759			$	475

^(a)  The three months ended March 31, 2017 includes an investment of $500 million in MarEn Bakken related to the Bakken Pipeline system. The three months ended March 31, 2016 includes an adjustment of $143 million to the fair value of equity method investments acquired in connection with the MarkWest Merger.

^(b)  Capital expenditures include changes in capital accruals. See Note 17 for a reconciliation of total capital expenditures to additions to property, plant and equipment as reported in the consolidated statements of cash flows.

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

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Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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-Publisher FASB
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