Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Summary of Earnings Per Common Share

Since MPC grants certain incentive compensation awards to employees and non-employee directors that are considered to be participating securities, we have calculated our earnings (loss) per share using the two-class method. Diluted income (loss) per share assumes exercise of certain share-based compensation awards, provided the effect is not anti-dilutive.

(In millions, except per share data)	2022		2021		2020
Income (loss) from continuing operations, net of tax	$	15,978	$	2,553	$	(11,182)
Less: Net income (loss) attributable to noncontrolling interest	1,534		1,263		(151)
Net income allocated to participating securities	8		2		1
Income (loss) from continuing operations available to common stockholders	14,436		1,288		(11,032)
Income from discontinued operations, net of tax	72		8,448		1,205
Income (loss) available to common stockholders	$	14,508	$	9,736	$	(9,827)
Weighted average common shares outstanding:
Basic	512		634		649
Effect of dilutive securities	4		4		—
Diluted	516		638		649

(In millions, except per share data)	2022		2021		2020
Income (loss) available to common stockholders per share:
Basic:
Continuing operations	$	28.17	$	2.03	$	(16.99)
Discontinued operations	0.14		13.31		1.86
Net income (loss) per share	$	28.31	$	15.34	$	(15.13)
Diluted:
Continuing operations	$	27.98	$	2.02	$	(16.99)
Discontinued operations	0.14		13.22		1.86
Net income (loss) per share	$	28.12	$	15.24	$	(15.13)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table summarizes the shares that were anti-dilutive, and therefore, were excluded from the diluted share calculation.

(In millions)	2022	2021	2020
Shares issuable under share-based compensation plans	—	3	11