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Debt
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Debt Debt
Our outstanding borrowings at September 30, 2024 and December 31, 2023 consisted of the following:
(Millions of dollars)September 30,
2024		December 31,
2023
Marathon Petroleum Corporation:
Senior notes$5,699 $6,449 
Notes payable— 1 
Finance lease obligations494 464 
Total6,193 6,914 
MPLX LP:
Senior notes22,350 20,700 
Finance lease obligations6 6 
Total22,356 20,706 
Total debt28,549 27,620 
Unamortized debt issuance costs(146)(141)
Unamortized discount, net of unamortized premium(183)(196)
Amounts due within one year(4,167)(1,954)
Total long-term debt due after one year$24,053 $25,329 

MPC Senior Notes
On September 16, 2024, we repaid the $750 million outstanding principal amount of 3.625 percent senior notes due September 2024 at maturity using cash on hand.
MPLX Senior Notes
On May 20, 2024, MPLX issued $1.65 billion aggregate principal amount of 5.50 percent senior notes due June 2034 (the “2034 Senior Notes”) in an underwritten public offering. MPLX intends to use the net proceeds from the issuance of the 2034 Senior Notes to repay, redeem or otherwise retire some or all of (i) MPLX's outstanding $1,149 million aggregate principal amount of 4.875 percent senior notes due December 2024, (ii) MarkWest's outstanding $1 million aggregate principal amount of 4.875 percent senior notes due December 2024 and (iii) MPLX's outstanding $500 million aggregate principal amount of 4.000 percent senior notes due February 2025, and in the interim may use such net proceeds for general partnership purposes.
Available Capacity under our Credit Facilities as of September 30, 2024
(Millions of dollars)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 — %July 2027
MPC trade receivables securitization facility(a)
100 — — 100 — %September 2027
MPLX
MPLX bank revolving credit facility2,000 — — 2,000 — %July 2027
(a)    The committed borrowing and letter of credit issuance capacity under 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.