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Debt
 3 Months Ended
Mar. 31, 2023
Debt Disclosure [Abstract]  
Debt Debt Our outstanding borrowings at March 31, 2023 and December 31, 2022 consisted of the following:
(Millions of dollars)March 31,
2023		December 31,
2022
Marathon Petroleum Corporation:
Senior notes$6,449 $6,449 
Notes payable1 1 
Finance lease obligations502 522 
Total$6,952 $6,972 
MPLX LP:
Senior notes20,700 20,100 
Finance lease obligations7 8 
Total$20,707 $20,108 
Total debt$27,659 $27,080 
Unamortized debt issuance costs(153)(142)
Unamortized discount, net of unamortized premium(226)(238)
Amounts due within one year(75)(1,066)
Total long-term debt due after one year$27,205 $25,634 
MPLX Senior Notes
On February 9, 2023, MPLX issued $1.6 billion aggregate principal amount of senior notes in a public offering, consisting of $1.1 billion aggregate principal amount of 5.00 percent senior notes due March 2033 and $500 million aggregate principal amount of 5.65 percent senior notes due March 2053. On February 15, 2023, MPLX used $600 million of the net proceeds to redeem all of its outstanding Series B preferred units. On March 13, 2023, MPLX used the remaining proceeds to redeem all of MPLX’s and MarkWest’s $1.0 billion aggregate principal amount of 4.50 percent senior notes due July 2023. The redemption resulted in a loss on extinguishment of debt of $9 million due to the immediate expense recognition of unamortized debt discount and issuance costs.

Available Capacity under our Credit Facilities as of March 31, 2023
(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 2023
MPLX
MPLX bank revolving credit facility2,000 — — 2,000 — %July 2027
(a)    The committed borrowing and letter of credit issuance capacity of 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, 2023, letters of credit in the total amount of $533 million were issued and outstanding under the facility to secure contracts awarded by the Department of Energy to purchase crude oil from the Strategic Petroleum Reserve.