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Equity (Tables) | 6 Months Ended
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Jun. 30, 2026
Equity [Abstract] |
Schedule of Stockholders Equity | The changes in the number of common units during the six months ended June 30, 2026 are summarized below:
(In units) | Common Units
Balance at December 31, 2025 | 1,015,702,040 |
Unit-based compensation awards | 113,750 |
Units redeemed in unit repurchase program | (1,775,561) |
Balance at June 30, 2026 | 1,014,040,229 |
Class of Treasury Stock | Total unit repurchases were as follows for the respective periods:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions, except per unit data) | 2026 |  | 2025 |  | 2026 |  | 2025
Number of common units repurchased | 1 |  |  | 2 |  |  | 2 |  |  | 4 |
Cash paid for common units repurchased(1) | $ | 50 |  |  | $ | 100 |  |  | $ | 100 |  |  | $ | 200 |
Average cost per unit(1) | $ | 56.01 |  |  | $ | 50.31 |  |  | $ | 56.32 |  |  | $ | 51.38 |
(1) Cash paid for common units repurchased and average cost per unit includes commissions paid to brokers during the period.
Dividends Declared |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions, except per unit data) | 2026 |  | 2025 |  | 2026 |  | 2025
Distribution declared: |  |  |  |  |  |  |
Limited partner units - public | $ | 395 |  |  | $ | 356 |  |  | $ | 790 |  |  | $ | 713 |
Limited partner units - MPC | 697 |  |  | 619 |  |  | 1,394 |  |  | 1,238 |
Total distribution declared | $ | 1,092 |  |  | $ | 975 |  |  | $ | 2,184 |  |  | $ | 1,951 |
Quarterly cash distributions declared per limited partner common unit | $ | 1.0765 |  |  | $ | 0.9565 |  |  | $ | 2.1530 |  |  | $ | 1.9130 |

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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480070/505-10-S50-1 + Details
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- Definition Tabular disclosure of treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481520/505-30-50-4 + Details
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