Segment Information (Tables)
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3 Months Ended |
Mar. 31, 2018 |
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| Segment Reporting [Abstract] |
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| Income From Operations Attributable To Operating Segments |
Segment income represents income from operations attributable to the reportable segments. Corporate administrative expenses, except for those attributable to MPLX, and costs related to certain non-operating assets are not allocated to the reportable segments. In addition, certain items that affect comparability (as determined by the chief operating decision maker) are not allocated to the reportable segments.
| | | | | | | | | | | | | | | | | (In millions) | Refining & Marketing | | Speedway | | Midstream | | Total | Three Months Ended March 31, 2018 | | | | | | | | Revenues: | | | | | | | | Third party | $ | 13,412 |
| | $ | 4,569 |
| | $ | 713 |
| | $ | 18,694 |
| Intersegment | 2,379 |
| | 1 |
| | 631 |
| | 3,011 |
| Related party | 170 |
| | 2 |
| | — |
| | 172 |
| Segment revenues | $ | 15,961 |
| | $ | 4,572 |
| | $ | 1,344 |
| | $ | 21,877 |
| Segment income (loss) from operations | $ | (133 | ) | | $ | 95 |
| | $ | 567 |
| | $ | 529 |
| Income from equity method investments | 3 |
| | 14 |
| | 69 |
| | 86 |
| Depreciation and amortization(b) | 252 |
| | 79 |
| | 181 |
| | 512 |
| Capital expenditures and investments(c) | 191 |
| | 39 |
| | 482 |
| | 712 |
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| | | | | | | | | | | | | | | | | (In millions) | Refining & Marketing | | Speedway | | Midstream | | Total | Three Months Ended March 31, 2017 | | | | | | | | Revenues: | | | | | | | | Third party | $ | 11,221 |
| | $ | 4,381 |
| | $ | 532 |
| | $ | 16,134 |
| Intersegment(a) | 2,590 |
| | 1 |
| | 344 |
| | 2,935 |
| Related party | 152 |
| | 2 |
| | — |
| | 154 |
| Segment revenues | $ | 13,963 |
| | $ | 4,384 |
| | $ | 876 |
| | $ | 19,223 |
| Segment income (loss) from operations | $ | (70 | ) | | $ | 135 |
| | $ | 309 |
| | $ | 374 |
| Income from equity method investments | 2 |
| | 13 |
| | 42 |
| | 57 |
| Depreciation and amortization(b) | 267 |
| | 64 |
| | 191 |
| | 522 |
| Capital expenditures and investments(c)(d) | 192 |
| | 35 |
| | 1,070 |
| | 1,297 |
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| | (a) | Management believes intersegment transactions were conducted under terms comparable to those with unaffiliated parties. |
| | (b) | Differences between segment totals and MPC totals represent amounts related to unallocated items and are included in “Items not allocated to segments” in the reconciliation below. |
| | (c) | Capital expenditures include changes in capital accruals, acquisitions and investments in affiliates. |
| | (d) | The Midstream segment includes $220 million for the acquisition of the Ozark pipeline and an investment of $500 million in MarEn Bakken related to the Bakken Pipeline system for the three months ended March 31, 2017. |
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| Reconciliation Of Segment Income From Operations To Income Before Income Taxes |
The following reconciles segment income from operations to income before income taxes as reported in the consolidated statements of income: | | | | | | | | | | Three Months Ended
March 31, | (In millions) | 2018 | | 2017 | Segment income from operations | $ | 529 |
| | $ | 374 |
| Items not allocated to segments: | | | | Corporate and other unallocated items(a) | (88 | ) | | (83 | ) | Pension settlement expenses | (1 | ) | | — |
| Income from operations | 440 |
| | 291 |
| Net interest and other financial costs | 183 |
| | 149 |
| Income before income taxes | $ | 257 |
| | $ | 142 |
|
| | (a) | Corporate and other unallocated items consists primarily of MPC’s corporate administrative expenses and costs related to certain non-operating assets, except for corporate overhead expenses attributable to MPLX, which are included in the Midstream segment. |
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| Reconciliation Of Segment Capital Expenditures And Investments To Total Capital Expenditures |
The following reconciles segment capital expenditures and investments to total capital expenditures: | | | | | | | | | | Three Months Ended
March 31, | (In millions) | 2018 | | 2017 | Segment capital expenditures and investments | $ | 712 |
| | $ | 1,297 |
| Less investments in equity method investees(a) | 41 |
| | 566 |
| Plus items not allocated to segments: | | | | Corporate | 18 |
| | 16 |
| Capitalized interest | 18 |
| | 12 |
| Total capital expenditures(b) | $ | 707 |
| | $ | 759 |
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| | (a) | The three months ended March 31, 2017 includes an investment of $500 million in MarEn Bakken related to the Bakken Pipeline system. |
| | (b) | Capital expenditures include changes in capital accruals. See Note 18 for a reconciliation of total capital expenditures to additions to property, plant and equipment as reported in the consolidated statements of cash flows. |
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| Revenue from External Customers by Products and Services |
Revenues by product line were as follows: | | | | | | | | | | Three Months Ended
March 31, | (In millions) | 2018 | | 2017 | Refined products | $ | 16,158 |
| | $ | 13,876 |
| Merchandise | 1,130 |
| | 1,192 |
| Crude oil and refinery feedstocks | 883 |
| | 687 |
| Service, transportation and other | 523 |
| | 379 |
| Sales and other operating revenues | $ | 18,694 |
| | $ | 16,134 |
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