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Marathon Petroleum MPC Midstream — Accumulated Depreciation

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Other financials

Income statement

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Revenue$52.0B+53.8%
Gross profit$8.9B+137%
Operating income$7.3B+233%
Net income$5.1B+323%
EPS (diluted)$17.73+348%

Balance sheet

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Cash & equivalents$7.8B+364%
Total debt$32.8B+2,276%
Total equity$16.8B+2.2%
Total assets$88.2B+8.0%

Cash flow

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Operating cash flow$1.1B+1,852%
CapEx$913.0M+37.7%
Free cash flow$208.0M+129%

Valuation

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Market cap$83.62B+69.3%
Enterprise value$82.97B+121%
P/E9.8×-13.4×
P/S0.5×+0.2×

Profitability

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Gross margin12.5%+3.9pp
Operating margin9.2%+5.2pp
Net margin5.6%+4.0pp
FCF margin4.2%+1.0pp

Returns & leverage

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Return on equity27.9%+15.6pp
Debt / equity0.1×0.0×
Current ratio1.2×0.0×

Where this comes from

Reported directly by Marathon Petroleum in its filing.

Tagged under the XBRL concept us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization.

The source filing: Marathon Petroleum’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 1:03 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001510295-26-000042
(Millions of dollars)March 31, 2026 / Gross PP&EMarch 31, 2026 / Accumulated DepreciationMarch 31, 2026 / Net PP&EDecember 31, 2025 / Gross PP&EDecember 31, 2025 / Accumulated DepreciationDecember 31, 2025 / Net PP&E
Refining & Marketing$34,659$20,810$13,849$34,372$20,462$13,910
Midstream34,66912,01522,65434,05711,69022,367
Renewable Diesel970411559970396574
Corporate1,6151,0805351,6101,064546
Total$71,913$34,316$37,597$71,009$33,612$37,397

Item 1. Financial Statements

FAQ

What is Marathon Petroleum's midstream — accumulated depreciation?
Marathon Petroleum (MPC) reported midstream — accumulated depreciation of $12.02B in Q1 2026.
How has Marathon Petroleum's midstream — accumulated depreciation changed year-over-year?
Marathon Petroleum's midstream — accumulated depreciation increased by 8.3% year-over-year, from $11.1B to $12.02B.
What is the long-term trend for Marathon Petroleum's midstream — accumulated depreciation?
Over 3 years (2022 to 2025), Marathon Petroleum's midstream — accumulated depreciation has grown at a 13.0% compound annual growth rate (CAGR), from $31.57B to $45.58B.
What does midstream — accumulated depreciation mean?
The cumulative amount of depreciation expense charged against the midstream segment's physical assets since their acquisition or construction. It represents the portion of the cost of these assets that has been allocated to expense over their useful lives.

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