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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents (MPLX: $4 and $43, respectively) $ 308 $ 1,127
Receivables, less allowance for doubtful accounts of $11 and $12 (MPLX: $256 and $257, respectively) 2,602 2,927
Inventories (MPLX: $45 and $51, respectively) 4,983 5,225
Other current assets (MPLX: $28 and $50, respectively) 204 192
Total current assets 8,097 9,471
Equity method investments (MPLX: $2,598 and $2,458, respectively) 3,807 3,622
Property, plant and equipment, net (MPLX: $10,195 and $9,997, respectively) 25,319 25,164
Goodwill (MPLX: $2,200 and $2,570, respectively) 3,649 4,019
Other noncurrent assets (MPLX: $531 and $478, respectively) 886 839
Total assets 41,758 43,115
Current liabilities:    
Accounts payable (MPLX: $424 and $449, respectively) 4,083 4,743
Payroll and benefits payable (MPLX: $1 and $18, respectively) 302 503
Consumer excise taxes payable (MPLX: $1 and $1, respectively) 459 460
Accrued taxes (MPLX: $23 and $26, respectively) 145 184
Long-term debt due within one year (MPLX: $1 and $1, respectively) 215 29
Other current liabilities (MPLX: $69 and $65, respectively) 391 426
Total current liabilities 5,595 6,345
Long-term debt (MPLX: $4,715 and $5,255, respectively) 11,351 11,896
Deferred income taxes (MPLX: $382 and $378, respectively) 3,356 3,285
Defined benefit postretirement plan obligations 1,216 1,179
Deferred credits and other liabilities (MPLX: $172 and $170, respectively) 746 735
Total liabilities $ 22,264 $ 23,440
Commitments and contingencies (see Note 22)
MPC stockholders’ equity:    
Preferred stock, no shares issued and outstanding (par value 0.01 per share, 30 million shares authorized) $ 0 $ 0
Common stock:    
Issued – 730 million and 729 million shares (par value 0.01 per share, 1 billion shares authorized) 7 7
Held in treasury, at cost – 200 million and 198 million shares (7,353) (7,275)
Additional paid-in capital 10,982 11,071
Retained earnings 9,584 9,752
Accumulated other comprehensive loss (318) (318)
Total MPC stockholders’ equity 12,902 13,237
Noncontrolling interests 6,592 6,438
Total equity 19,494 19,675
Total liabilities and equity $ 41,758 $ 43,115