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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents (MPLX: $265 and $234, respectively) $ 2,167 $ 887
Receivables, less allowance for doubtful accounts of $10 and $12 (MPLX: $276 and $304, respectively) 3,284 3,617
Inventories (MPLX: $62 and $55, respectively) 5,392 5,656
Other current assets (MPLX: $31 and $33, respectively) 199 241
Total current assets 11,042 10,401
Equity method investments (MPLX: $3,306 and $2,471, respectively) 4,704 3,827
Property, plant and equipment, net (MPLX: $11,411 and $11,408, respectively) 25,669 25,765
Goodwill (MPLX: $2,245 and $2,245, respectively) 3,586 3,587
Other noncurrent assets (MPLX: $499 and $506, respectively) 820 833
Total assets 45,821 44,413
Current liabilities:    
Accounts payable (MPLX: $485 and $541, respectively) 5,343 5,593
Payroll and benefits payable (MPLX: $0 and $1, respectively) 528 530
Consumer excise taxes payable (MPLX: $2 and $3, respectively) 482 464
Accrued taxes (MPLX: $29 and $35, respectively) 135 153
Debt due within one year (MPLX: $1 and $1, respectively) 28 28
Other current liabilities (MPLX: $98 and $81, respectively) 350 378
Total current liabilities 6,866 7,146
Long-term debt (MPLX: $6,654 and $4,422, respectively) 12,570 10,544
Deferred income taxes (MPLX: $6 and $6, respectively) 3,888 3,861
Defined benefit postretirement plan obligations 1,085 1,055
Deferred credits and other liabilities (MPLX: $187 and $189, respectively) 615 604
Total liabilities 25,024 23,210
Commitments and contingencies (see Note 21)
Redeemable noncontrolling interest 1,000 1,000
MPC stockholders’ equity:    
Preferred stock, no shares issued and outstanding (par value 0.01 per share, 30 million shares authorized) 0 0
Common stock:    
Issued – 731 million and 731 million shares (par value 0.01 per share, 1 billion shares authorized) 7 7
Held in treasury, at cost – 212 million and 203 million shares (7,905) (7,482)
Additional paid-in capital 11,159 11,060
Retained earnings 10,046 10,206
Accumulated other comprehensive loss (237) (234)
Total MPC stockholders’ equity 13,070 13,557
Noncontrolling interests 6,727 6,646
Total equity 19,797 20,203
Total liabilities, redeemable noncontrolling interest and equity $ 45,821 $ 44,413