2013 Q4 Form 10-Q Financial Statement

#000151029513000003 Filed on November 07, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q3
Revenue $24.90B $26.26B $21.05B
YoY Change 20.36% 24.74% 2.1%
Cost Of Revenue $23.17B $25.12B $18.75B
YoY Change 22.88% 33.96% 2.24%
Gross Profit $1.755B $1.156B $2.325B
YoY Change -5.29% -50.28% 1.31%
Gross Profit Margin 7.05% 4.4% 11.05%
Selling, General & Admin $417.0M $305.0M $293.0M
YoY Change 9.74% 4.1% -2.01%
% of Gross Profit 23.76% 26.38% 12.6%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $332.0M $299.0M $246.0M
YoY Change 17.31% 21.54% 8.37%
% of Gross Profit 18.92% 25.87% 10.58%
Operating Expenses $749.0M $305.0M $293.0M
YoY Change 12.97% 4.1% -2.01%
Operating Profit $1.008B $301.0M $1.895B
YoY Change -15.22% -84.12% 2.32%
Interest Expense -$40.00M -$217.0M -$25.00M
YoY Change -11.11% 768.0%
% of Operating Profit -3.97% -72.09% -1.32%
Other Income/Expense, Net -$47.00M -$25.00M
YoY Change 88.0% -2600.0%
Pretax Income $969.0M $254.0M $1.870B
YoY Change -15.3% -86.42% 7.22%
Income Tax $338.0M $81.00M $646.0M
% Of Pretax Income 34.88% 31.89% 34.55%
Net Earnings $626.0M $168.0M $1.224B
YoY Change -17.09% -86.27% 8.03%
Net Earnings / Revenue 2.51% 0.64% 5.82%
Basic Earnings Per Share $2.09 $0.54 $3.61
Diluted Earnings Per Share $2.07 $0.54 $3.59
COMMON SHARES
Basic Shares Outstanding 301.0M shares 309.0M shares 338.0M shares
Diluted Shares Outstanding 311.0M shares 340.0M shares

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.292B $2.018B $3.387B
YoY Change -52.84% -40.42% 14.54%
Cash & Equivalents $2.292B $2.018B $3.387B
Short-Term Investments
Other Short-Term Assets $197.0M $206.0M $139.0M
YoY Change 79.09% 48.2% -24.04%
Inventory $4.689B $5.714B $3.889B
Prepaid Expenses
Receivables $5.559B $5.593B $5.101B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $12.74B $13.53B $12.52B
YoY Change -2.24% 8.11% 7.26%
LONG-TERM ASSETS
Property, Plant & Equipment $13.92B $13.80B $12.53B
YoY Change 10.11% 10.08% 4.21%
Goodwill $938.0M $938.0M $930.0M
YoY Change 0.86% 0.86%
Intangibles
YoY Change
Long-Term Investments $463.0M $417.0M $300.0M
YoY Change 44.24% 39.0% -6.54%
Other Assets $326.0M $322.0M $305.0M
YoY Change 8.67% 5.57% -16.89%
Total Long-Term Assets $15.65B $15.47B $14.07B
YoY Change 10.24% 9.99% 3.77%
TOTAL ASSETS
Total Short-Term Assets $12.74B $13.53B $12.52B
Total Long-Term Assets $15.65B $15.47B $14.07B
Total Assets $28.39B $29.00B $26.58B
YoY Change 4.27% 9.1% 5.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.234B $8.961B $6.951B
YoY Change 21.36% 28.92% -0.53%
Accrued Expenses $779.0M $618.0M $551.0M
YoY Change 13.06% 12.16% 9.76%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $23.00M $23.00M $20.00M
YoY Change 21.05% 15.0% 42.86%
Total Short-Term Liabilities $9.824B $10.40B $8.308B
YoY Change 19.76% 25.19% -3.53%
LONG-TERM LIABILITIES
Long-Term Debt $3.373B $3.380B $3.329B
YoY Change 0.93% 1.53% 1.34%
Other Long-Term Liabilities $1.552B $1.730B $1.525B
YoY Change 1.9% 13.44% -15.56%
Total Long-Term Liabilities $4.925B $5.110B $4.854B
YoY Change 1.23% 5.27% -4.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.824B $10.40B $8.308B
Total Long-Term Liabilities $4.925B $5.110B $4.854B
Total Liabilities $17.05B $17.74B $15.12B
YoY Change 12.8% 17.35% -0.4%
SHAREHOLDERS EQUITY
Retained Earnings $5.507B $5.007B $3.241B
YoY Change 41.93% 54.49%
Common Stock $9.772B $9.752B $9.567B
YoY Change 2.53% 1.93%
Preferred Stock
YoY Change
Treasury Stock (at cost) $4.155B $3.703B $852.0M
YoY Change 231.6% 334.62%
Treasury Stock Shares 65.00M shares 59.00M shares 20.00M shares
Shareholders Equity $10.92B $10.85B $11.47B
YoY Change
Total Liabilities & Shareholders Equity $28.39B $29.00B $26.58B
YoY Change 4.27% 9.1% 5.38%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q3
OPERATING ACTIVITIES
Net Income $626.0M $168.0M $1.224B
YoY Change -17.09% -86.27% 8.03%
Depreciation, Depletion And Amortization $332.0M $299.0M $246.0M
YoY Change 17.31% 21.54% 8.37%
Cash From Operating Activities $1.355B $407.0M $1.833B
YoY Change -33.68% -77.8% 6.63%
INVESTING ACTIVITIES
Capital Expenditures -$473.0M -$309.0M -$331.0M
YoY Change 17.37% -6.65% 1.22%
Acquisitions
YoY Change
Other Investing Activities -$32.00M -$24.00M $96.00M
YoY Change 100.0% -125.0% 433.33%
Cash From Investing Activities -$505.0M -$333.0M -$235.0M
YoY Change 20.53% 41.7% -23.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.028B
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -576.0M -1.125B -106.0M
YoY Change 281.46% 961.32% 41.33%
NET CHANGE
Cash From Operating Activities 1.355B 407.0M 1.833B
Cash From Investing Activities -505.0M -333.0M -235.0M
Cash From Financing Activities -576.0M -1.125B -106.0M
Net Change In Cash 274.0M -1.051B 1.492B
YoY Change -81.4% -170.44% 11.76%
FREE CASH FLOW
Cash From Operating Activities $1.355B $407.0M $1.833B
Capital Expenditures -$473.0M -$309.0M -$331.0M
Free Cash Flow $1.828B $716.0M $2.164B
YoY Change -25.27% -66.91% 5.77%

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CY2013Q3 us-gaap Goodwill
Goodwill
938000000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
8000000 USD
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1870000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2277000000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
254000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4094000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
18000000 USD
CY2012Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7000000 USD
CY2013Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9000000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
16000000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
-13000000 USD
us-gaap Income Loss From Equity Method Investments Net Of Dividends Or Distributions
IncomeLossFromEquityMethodInvestmentsNetOfDividendsOrDistributions
4000000 USD
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
646000000 USD
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
81000000 USD
us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
0 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
974000000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-360000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
775000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1460000000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1027000000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
776000000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-1160000000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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2028000000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1330000000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
555000000 USD
CY2013Q3 us-gaap Interest Costs Capitalized Adjustment
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7000000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
95000000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
15000000 USD
CY2012Q3 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
29000000 USD
us-gaap Interest Costs Incurred
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140000000 USD
CY2013Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
48000000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
138000000 USD
CY2012Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
47000000 USD
CY2012Q3 us-gaap Interest Income Expense Net
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-18000000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-125000000 USD
CY2013Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-41000000 USD
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-43000000 USD
us-gaap Interest Paid Net
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166000000 USD
us-gaap Interest Paid Net
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69000000 USD
CY2013Q3 us-gaap Inventory Net
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5714000000 USD
CY2012Q4 us-gaap Inventory Net
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3449000000 USD
CY2013Q3 us-gaap Liabilities
Liabilities
17739000000 USD
CY2012Q4 us-gaap Liabilities
Liabilities
15118000000 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
27223000000 USD
CY2013Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
29003000000 USD
CY2012Q4 us-gaap Liabilities Current
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8203000000 USD
CY2013Q3 us-gaap Liabilities Current
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10401000000 USD
CY2013Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
3380000000 USD
CY2012Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
3342000000 USD
us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
876000000 USD
CY2012Q4 us-gaap Minority Interest
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411000000 USD
CY2013Q3 us-gaap Minority Interest
MinorityInterest
413000000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
15000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-2641000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-1108000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-1033000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-2251000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2449000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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2050000000 USD
CY2013Q3 us-gaap Net Income Loss
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168000000 USD
us-gaap Net Income Loss
NetIncomeLoss
1486000000 USD
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
1224000000 USD
us-gaap Net Income Loss
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2634000000 USD
CY2012Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
16000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
CY2013Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5000000 USD
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
168000000 USD
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1222000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1484000000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2629000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1484000000 USD
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
168000000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2629000000 USD
CY2012Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1222000000 USD
us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
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0 USD
us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
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3000000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
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2000000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
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0 USD
CY2013Q3 us-gaap Nonoperating Income Expense
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-47000000 USD
CY2012Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-25000000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-64000000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-140000000 USD
us-gaap Number Of Reportable Segments
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3 Segment
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
301000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
2417000000 USD
CY2013Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
322000000 USD
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1895000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
4158000000 USD
CY2013Q3 us-gaap Other Assets Current
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206000000 USD
CY2012Q4 us-gaap Other Assets Current
OtherAssetsCurrent
110000000 USD
CY2012Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
300000000 USD
us-gaap Other Comprehensive Income Loss Amortization Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Prior Service Cost Credit Before Tax
OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditBeforeTax
-37000000 USD
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
177000000 USD
CY2013Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
49000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
390000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
259000000 USD
CY2012Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
8000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossBeforeTax
-55000000 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansTax
19000000 USD
CY2013Q3 us-gaap Other Inventory Supplies
OtherInventorySupplies
365000000 USD
CY2012Q4 us-gaap Other Inventory Supplies
OtherInventorySupplies
231000000 USD
CY2012Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
112000000 USD
CY2013Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
190000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-21000000 USD
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6000000 USD
CY2012Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7000000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-15000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-28000000 USD
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
71000000 USD
us-gaap Other Operating Income
OtherOperatingIncome
28000000 USD
CY2013Q3 us-gaap Other Operating Income
OtherOperatingIncome
8000000 USD
us-gaap Other Operating Income
OtherOperatingIncome
40000000 USD
CY2012Q3 us-gaap Other Operating Income
OtherOperatingIncome
18000000 USD
us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
43000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-22000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-3000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2341000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
850000000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2000000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
6000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
291000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
358000000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
190000000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
1515000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
966000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
733000000 USD
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
113000000 USD
us-gaap Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
26000000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
15000000 USD
us-gaap Payments To Minority Shareholders
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0 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
3000000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
119000000 USD
CY2013Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
895000000 USD
CY2012Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
1266000000 USD
CY2012Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
30000000 shares
us-gaap Proceeds From Issuance Of Common Stock
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37000000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the fourth quarter of 2012, we reclassified certain expenses from selling, general and administrative expenses to cost of revenues, which is consistent with expense classifications for MPLX, MPC&#8217;s consolidated subsidiary. Historical periods were also reclassified to conform to the current period presentation. This reclassification resulted in an increase in cost of revenues and a decrease in selling, general and administrative expenses of </font><font style="font-family:inherit;font-size:10pt;">$12 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$35 million</font><font style="font-family:inherit;font-size:10pt;"> in the three and nine months ended September&#160;30, 2012, respectively.</font></div></div>
us-gaap Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
76000000 USD
us-gaap Proceeds From Collection Of Longterm Loans To Related Parties
ProceedsFromCollectionOfLongtermLoansToRelatedParties
94000000 USD
CY2012Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
30000000 shares
CY2013Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2012Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2012Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2012Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
54000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
15000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-3000000 USD
us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets
52000000 USD
us-gaap Proceeds From Sales Of Business Affiliate And Productive Assets
ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets
12000000 USD
CY2013Q3 us-gaap Profit Loss
ProfitLoss
173000000 USD
us-gaap Profit Loss
ProfitLoss
2634000000 USD
CY2012Q3 us-gaap Profit Loss
ProfitLoss
1224000000 USD
us-gaap Profit Loss
ProfitLoss
1502000000 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19409000000 USD
CY2013Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21375000000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12643000000 USD
CY2013Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13795000000 USD
CY2012Q4 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
74000000 USD
CY2013Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5007000000 USD
us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
51323000000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
16000000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
12000000 USD
us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
65907000000 USD
CY2012Q3 us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
17202000000 USD
CY2013Q3 us-gaap Retail Related Inventory Merchandise
RetailRelatedInventoryMerchandise
83000000 USD
CY2012Q4 us-gaap Recorded Third Party Environmental Recoveries Receivable
RecordedThirdPartyEnvironmentalRecoveriesReceivable
51000000 USD
CY2013Q3 us-gaap Recorded Third Party Environmental Recoveries Receivable
RecordedThirdPartyEnvironmentalRecoveriesReceivable
49000000 USD
CY2013Q3 us-gaap Refining And Marketing Costs
RefiningAndMarketingCosts
23553000000 USD
CY2013Q3 us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
26253000000 USD
us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
75256000000 USD
CY2012Q3 us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
21047000000 USD
us-gaap Refining And Marketing Revenue
RefiningAndMarketingRevenue
61551000000 USD
CY2013Q3 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
103000000 USD
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
204000000 USD
us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
254000000 USD
CY2012Q3 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
84000000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3880000000 USD
CY2012Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
2000000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
7000000 USD
CY2013Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
3000000 USD
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
6000000 USD
CY2012Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
325000000 USD
CY2013Q3 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
277000000 USD
CY2012Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
66000000 USD
CY2013Q3 us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
82000000 USD
CY2012Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
28000000 shares
CY2013Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
59000000 shares
CY2013Q3 us-gaap Treasury Stock Value
TreasuryStockValue
3703000000 USD
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
1253000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
850000000 USD
CY2013Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
25000000 USD
CY2013Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
305000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
912000000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
909000000 USD
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
293000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
53000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
28000000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
11694000000 USD
CY2013Q3 us-gaap Stockholders Equity
StockholdersEquity
10851000000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
12105000000 USD
CY2013Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11264000000 USD
CY2012Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11467000000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9505000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
9000000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
204000000 USD
us-gaap Taxes Excluding Income And Excise Taxes
TaxesExcludingIncomeAndExciseTaxes
259000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
2341000000 USD
CY2013Q3 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
0 USD
CY2012Q3 us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
2000000 USD
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
5000000 USD
us-gaap Undistributed Earnings Allocated To Participating Securities
UndistributedEarningsAllocatedToParticipatingSecurities
2000000 USD
us-gaap Unrealized Gain Loss On Derivatives
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54000000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-8000000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
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-21000000 USD
us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These interim consolidated financial statements are unaudited; however, in the opinion of our management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal, recurring nature unless otherwise disclosed. These interim consolidated financial statements, including the notes, have been prepared in accordance with the rules of the Securities and Exchange Commission applicable to interim period financial statements and do not include all of the information and disclosures required by United States generally accepted accounting principles (&#8220;US GAAP&#8221;) for complete financial statements.</font></div></div>
CY2012Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
CY2013Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
323000000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
340000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
344000000 shares
CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
311000000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
338000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
342000000 shares
CY2013Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
309000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
321000000 shares
CY2013Q3 mpc Bank Serviceand Other Fees
BankServiceandOtherFees
5000000 USD
mpc Bank Serviceand Other Fees
BankServiceandOtherFees
15000000 USD
CY2012Q3 mpc Bank Serviceand Other Fees
BankServiceandOtherFees
6000000 USD
mpc Bank Serviceand Other Fees
BankServiceandOtherFees
20000000 USD
mpc Business Combination Transferred Liabilities Incurred Contingent Consideration
BusinessCombinationTransferredLiabilitiesIncurredContingentConsideration
600000000 USD
mpc Business Combination Transferred Liabilities Incurred Contingent Consideration
BusinessCombinationTransferredLiabilitiesIncurredContingentConsideration
0 USD
mpc Capital Expenditure
CapitalExpenditure
2182000000 USD
CY2012Q3 mpc Capital Expenditure
CapitalExpenditure
355000000 USD
mpc Capital Expenditure
CapitalExpenditure
1069000000 USD
CY2013Q3 mpc Capital Expenditure
CapitalExpenditure
336000000 USD
CY2013Q3 mpc Capital Expenditures And Investments
CapitalExpendituresAndInvestments
411000000 USD
mpc Capital Expenditures And Investments
CapitalExpendituresAndInvestments
1081000000 USD
CY2012Q3 mpc Capital Expenditures And Investments
CapitalExpendituresAndInvestments
360000000 USD
mpc Capital Expenditures And Investments
CapitalExpendituresAndInvestments
2268000000 USD
CY2013Q3 mpc Consolidated Refined Product Sales Volumes
ConsolidatedRefinedProductSalesVolumes
2155000 MBPD
mpc Consolidated Refined Product Sales Volumes
ConsolidatedRefinedProductSalesVolumes
2063000 MBPD
CY2012Q3 mpc Consolidated Refined Product Sales Volumes
ConsolidatedRefinedProductSalesVolumes
1622000 MBPD
mpc Consolidated Refined Product Sales Volumes
ConsolidatedRefinedProductSalesVolumes
1590000 MBPD
CY2013Q3 mpc Energy Related Inventory Refined Products
EnergyRelatedInventoryRefinedProducts
2651000000 USD
CY2012Q4 mpc Energy Related Inventory Refined Products
EnergyRelatedInventoryRefinedProducts
1761000000 USD
CY2012Q3 mpc Maximum Increase In Tax Free Contributions To Health Reimbursement Account
MaximumIncreaseInTaxFreeContributionsToHealthReimbursementAccount
0.04
CY2013Q3 mpc Nonfinancial Liabilities Fair Value Disclosure Current
NonfinancialLiabilitiesFairValueDisclosureCurrent
108000000 USD
mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Prior Service Cost Credit Adjustment Netof Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetPriorServiceCostCreditAdjustmentNetofTax
23000000 USD
mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Prior Service Cost Credit Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetPriorServiceCostCreditAdjustmentTax
-14000000 USD
CY2012Q3 mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Prior Service Cost Credit Adjustment Netof Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetPriorServiceCostCreditAdjustmentNetofTax
-17000000 USD
mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Prior Service Cost Credit Adjustment Netof Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetPriorServiceCostCreditAdjustmentNetofTax
-344000000 USD
CY2013Q3 mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Prior Service Cost Credit Adjustment Netof Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetPriorServiceCostCreditAdjustmentNetofTax
8000000 USD
CY2013Q3 mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Unamortized Gain Loss Adjustment Netof Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetUnamortizedGainLossAdjustmentNetofTax
57000000 USD
CY2012Q3 mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Unamortized Gain Loss Adjustment Netof Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetUnamortizedGainLossAdjustmentNetofTax
-9000000 USD
CY2013Q3 mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Unamortized Gain Loss Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetUnamortizedGainLossAdjustmentTax
34000000 USD
CY2013Q3 mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Prior Service Cost Credit Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetPriorServiceCostCreditAdjustmentTax
-5000000 USD
mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Prior Service Cost Credit Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetPriorServiceCostCreditAdjustmentTax
207000000 USD
CY2012Q3 mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Prior Service Cost Credit Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetPriorServiceCostCreditAdjustmentTax
10000000 USD
mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Unamortized Gain Loss Adjustment Netof Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetUnamortizedGainLossAdjustmentNetofTax
282000000 USD
mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Unamortized Gain Loss Adjustment Netof Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetUnamortizedGainLossAdjustmentNetofTax
46000000 USD
CY2012Q3 mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Unamortized Gain Loss Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetUnamortizedGainLossAdjustmentTax
-5000000 USD
mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Unamortized Gain Loss Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetUnamortizedGainLossAdjustmentTax
169000000 USD
mpc Other Comprehensive Income Loss Pensionand Other Postretirement Benefit Plans Net Unamortized Gain Loss Adjustment Tax
OtherComprehensiveIncomeLossPensionandOtherPostretirementBenefitPlansNetUnamortizedGainLossAdjustmentTax
28000000 USD
mpc Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Settlement Gain Loss Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAociPensionAndOtherPostretirementBenefitPlansForSettlementGainLossBeforeTax
-83000000 USD
mpc Payments To Acquire Businesses Excluding Inventories Including Contingent Consideration And Liabilities Assumed
PaymentsToAcquireBusinessesExcludingInventoriesIncludingContingentConsiderationAndLiabilitiesAssumed
1386000000 USD
mpc Payments To Acquire Businesses Excluding Inventories Including Contingent Consideration And Liabilities Assumed
PaymentsToAcquireBusinessesExcludingInventoriesIncludingContingentConsiderationAndLiabilitiesAssumed
180000000 USD
mpc Proceedsfrom Tax Settlement Agreement
ProceedsfromTaxSettlementAgreement
0 USD
mpc Proceedsfrom Tax Settlement Agreement
ProceedsfromTaxSettlementAgreement
39000000 USD
mpc Related Party Tax Payments
RelatedPartyTaxPayments
181000000 USD
mpc Revenues And Other Income
RevenuesAndOtherIncome
75322000000 USD
CY2013Q3 mpc Revenues And Other Income
RevenuesAndOtherIncome
26274000000 USD
CY2012Q3 mpc Revenues And Other Income
RevenuesAndOtherIncome
21249000000 USD
mpc Revenues And Other Income
RevenuesAndOtherIncome
61781000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001510295
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
301026678 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Marathon Petroleum Corp
dei Trading Symbol
TradingSymbol
MPC

Files In Submission

Name View Source Status
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0001510295-13-000003-index.html Edgar Link pending
0001510295-13-000003.txt Edgar Link pending
0001510295-13-000003-xbrl.zip Edgar Link pending
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Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
mpc-20130930.xml Edgar Link completed
mpc-20130930.xsd Edgar Link pending
mpc-20130930_cal.xml Edgar Link unprocessable
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