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Earnings Per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings (Loss) per Share | Earnings Per Share We compute basic earnings per share by dividing net income attributable to MPC less income allocated to participating securities by the weighted average number of shares of common stock outstanding. Since MPC grants certain incentive compensation awards to employees and non-employee directors that are considered to be participating securities, we have calculated our earnings per share using the two-class method. Diluted income per share assumes exercise of certain share-based compensation awards, provided the effect is not anti-dilutive.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In millions, except per share data) | 2024 |  | 2023 |  | 2024 |  | 2023
Net income | $ | 1,015 |  |  | $ | 3,631 |  |  | $ | 4,282 |  |  | $ | 9,295 |
Net income attributable to noncontrolling interest | (393) |  |  | (351) |  |  | (1,208) |  |  | (1,065) |
Net income allocated to participating securities | — |  |  | (2) |  |  | (2) |  |  | (5) |
Redemption of preferred units | — |  |  | — |  |  | — |  |  | (2) |
Income available to common stockholders | $ | 622 |  |  | $ | 3,278 |  |  | $ | 3,072 |  |  | $ | 8,223 |
Weighted average common shares outstanding: |  |  |  |  |  |  |
Basic | 331 |  |  | 394 |  |  | 347 |  |  | 418 |
Effect of dilutive securities | 1 |  |  | 2 |  |  | 1 |  |  | 2 |
Diluted | 332 |  |  | 396 |  |  | 348 |  |  | 420 |
Income available to common stockholders per share: |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |
Net income attributable to MPC per share | $ | 1.88 |  |  | $ | 8.31 |  |  | $ | 8.85 |  |  | $ | 19.66 |
Diluted: |  |  |  |  |  |  |
Net income attributable to MPC per share | $ | 1.87 |  |  | $ | 8.28 |  |  | $ | 8.83 |  |  | $ | 19.57 |
Potential common shares that were anti-dilutive and, therefore, omitted from the diluted share calculation, were immaterial for all periods.

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