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Debt
 6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Debt DEBT
Our outstanding borrowings at June 30, 2022 and December 31, 2021 consisted of the following:
(In millions)June 30,
2022		December 31,
2021
Marathon Petroleum Corporation:
Senior notes$6,449 $6,449 
Notes payable1 1 
Finance lease obligations620 589 
Total$7,070 $7,039 
MPLX LP:
Bank revolving credit facility— 300 
Senior notes20,100 18,600 
Finance lease obligations8 9 
Total$20,108 $18,909 
Total debt$27,178 $25,948 
Unamortized debt issuance costs(140)(129)
Unamortized (discount) premium, net(264)(280)
Amounts due within one year(1,087)(571)
Total long-term debt due after one year$25,687 $24,968 

MPLX Senior Notes
On March 14, 2022, MPLX issued $1.5 billion aggregate principal amount of 4.950% senior notes due March 2052 in an underwritten public offering. The net proceeds were used to repay amounts outstanding under the MPC intercompany loan agreement and the MPLX credit agreement.
Available Capacity under our Credit Facilities as of June 30, 2022
(Dollars in millions)Total
Capacity		Outstanding
Borrowings		Outstanding
Letters
of Credit		Available
Capacity		Weighted
Average
Interest
Rate		Expiration
MPC, excluding MPLX
MPC bank revolving credit facility$5,000 $— $1 $4,999 — %October 2023
MPC trade receivables securitization facility(a)
100 — 100 — — September 2022
MPLX
MPLX bank revolving credit facility3,500 — — 3,500 — %July 2024
(a)    The committed borrowing and letter of credit issuance capacity of the trade receivables securitization facility is $100 million. In addition, the facility allows for the issuance of letters of credit in excess of the committed capacity at the discretion of the issuing banks. As of June 30, 2022, letters of credit in the total amount of $358 million were issued and outstanding under the facility to secure contracts awarded by the Department of Energy to purchase crude oil from the Strategic Petroleum Reserve. In July 2022, the trade receivables securitization facility was amended to, among other things, extend its term until September 29, 2023.
MPC Bank Revolving Credit Facility
On July 7, 2022, MPC entered into a new five-year revolving credit agreement (the “New MPC Credit Agreement”) to replace its previous $5.0 billion credit facility that was scheduled to expire in October 2023. The New MPC Credit Agreement, among other things, provides for a $5.0 billion unsecured revolving credit facility that matures in July 2027. The financial covenants of the New MPC Credit Agreement are substantially the same as those contained in the previous credit agreement. Borrowings under the New MPC Credit Agreement bear interest, at MPC’s election, at either the Adjusted Term SOFR or the Alternate Base Rate, both as defined in the New MPC Credit Agreement, plus an applicable margin.
MPLX Bank Revolving Credit Facility
On July 7, 2022, MPLX entered into a new five-year revolving credit agreement (the “New MPLX Credit Agreement”) to replace its previous $3.5 billion credit facility that was scheduled to expire in July 2024. The New MPLX Credit Agreement, among other things, provides for a $2.0 billion unsecured revolving credit facility that matures in July 2027. The New MPLX Credit Agreement also provides for letter of credit issuing capacity under the facility of $150 million. Letters of credit issuing capacity is included in, not in addition to, the $2.0 billion borrowing capacity of the New MPLX Credit Agreement. The financial covenants of the New MPLX Credit Agreement are substantially the same as those contained in the previous credit agreement. Borrowings under the MPLX Credit Agreement bear interest, at MPLX’s election, at either the Adjusted Term SOFR or the Alternate Base Rate, both as defined in the MPLX Credit Agreement, plus an applicable margin.