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Debt (Tables)

6 Months Ended

Jun. 30, 2025

Debt Disclosure [Abstract]

Outstanding Borrowings

Our outstanding borrowings at June 30, 2025 and December 31, 2024 consisted of the following:

(Millions of dollars)			June 30, 2025						December 31, 2024
MPC:
Commercial paper			$	210					$	—
Senior notes			6,449						5,699
MARAD debt			168						174
Finance lease obligations			680						718
Total			7,507						6,591
MPLX:
Senior notes			21,500						21,200
Finance lease obligations			7						6
Total			21,507						21,206
Total debt			29,014						27,797
Unamortized debt issuance costs			(171)						(142)
Unamortized discount, net of unamortized premium			(189)						(174)
Amounts due within one year			(1,819)						(3,049)
Total long-term debt due after one year			$	26,835					$	24,432

Schedule of Line of Credit Facilities

Available Capacity under our Credit Facilities as of June 30, 2025

(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 facility						2,000						—						—						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.

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

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