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v3.26.1

Debt (Tables) | 3 Months Ended
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Mar. 31, 2026
Debt Disclosure [Abstract] |
Outstanding Borrowings | Our outstanding borrowings at March 31, 2026 and December 31, 2025 consisted of the following:
(Millions of dollars) | March 31, 2026 |  | December 31, 2025
MPC: |  |  |
Senior notes | $ | 6,449 |  |  | $ | 6,449 |
MARAD debt | 154 |  |  | 161 |
Finance lease obligations | 663 |  |  | 689 |
Total | 7,266 |  |  | 7,299 |
MPLX: |  |  |
Senior notes | 26,000 |  |  | 26,000 |
Finance lease obligations | 6 |  |  | 6 |
Total | 26,006 |  |  | 26,006 |
Total debt | 33,272 |  |  | 33,305 |
Unamortized debt issuance costs | (214) |  |  | (204) |
Unamortized discount, net of unamortized premium | (233) |  |  | (225) |
Amounts due within one year | (2,119) |  |  | (2,371) |
Total long-term debt due after one year | $ | 30,706 |  |  | $ | 30,505 |
Schedule of Line of Credit Facilities | Capacity under our Credit Facilities as of March 31, 2026
(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. As of March 31, 2026, letters of credit in the total amount of $726 million were issued and outstanding under the facility to secure contracts awarded by the U.S. Department of Energy to purchase crude oil from the SPR.

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
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