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Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents [1] $ 11,839 $ 415
Short-term investments 5,418 0
Receivables, less allowance for doubtful accounts of $44 and $18, respectively 9,771 5,760
Inventories 8,879 7,999
Other current assets 2,685 2,724
Assets held for sale 0 11,389
Total current assets 38,592 28,287
Equity method investments 5,424 5,422
Property, plant and equipment, net 37,996 39,035
Goodwill 8,256 8,256
Right of use assets 1,500 1,521
Other noncurrent assets 2,532 2,637
Total assets 94,300 85,158
Current liabilities:    
Accounts payable 12,170 7,803
Payroll and benefits payable 651 732
Accrued taxes 5,219 1,105
Debt due within one year 70 2,854
Operating lease liabilities 473 497
Other current liabilities 929 822
Liabilities held for sale 0 1,850
Total current liabilities 19,512 15,663
Long-term debt 28,250 28,730
Deferred income taxes 5,704 6,203
Defined benefit postretirement plan obligations 1,850 2,121
Long-term operating lease liabilities 1,020 1,014
Deferred credits and other liabilities 1,271 1,207
Total liabilities 57,607 54,938
Commitments and contingencies (see Note 24)
Redeemable noncontrolling interest 968 968
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 – 983 million and 980 million shares (par value $0.01 per share, 2 billion shares authorized) 10 10
Held in treasury, at cost – 345 million and 329 million shares (16,147) (15,157)
Additional paid-in capital 33,238 33,208
Retained earnings 12,160 4,650
Accumulated other comprehensive loss (340) (512)
Total MPC stockholders’ equity 28,921 22,199
Noncontrolling interests 6,804 7,053
Total equity 35,725 29,252
Total liabilities, redeemable noncontrolling interest and equity $ 94,300 $ 85,158
[1] Excludes $140 million of cash at December 31, 2020, representing Speedway store cash, which was included in assets held for sale.