Exhibit

Marathon Petroleum Corp. Reports Third-Quarter 2017 Results


•	Reported third-quarter earnings of $903 million, or $1.77 per diluted share


•	Achieved strong refining throughput in the third quarter despite Gulf Coast hurricanes


•	Reported record Midstream segment results, primarily driven by MPLX


•	Continued execution of strategic actions, including completion of Speedway evaluation and dropdown of joint-interest ownership in certain assets to MPLX for $1.05 billion


•	Offered remaining dropdown to MPLX; evaluation underway


•	Returned $654 million of capital to shareholders, including $452 million in share repurchases

FINDLAY, Ohio, Oct. 26, 2017 – Marathon Petroleum Corp. (NYSE: MPC) today reported 2017 third-quarter earnings of $903 million, or $1.77 per diluted share. This compares with $145 million, or $0.27 per diluted share, in the third quarter of 2016.

“All segments of the business reported strong results in the quarter, highlighting the earnings power of our integrated model,” said Gary R. Heminger, chairman and chief executive officer. “We operated very well and were able to capture strong crack spreads. I am particularly proud of our dedicated employees for operating our facilities safely and reliably to meet the needs of our customers and the market under extremely challenging weather conditions during the recent hurricanes.

“In addition to our continued focus on driving strong operational and financial results, MPC is delivering on the strategic actions designed to further enhance shareholder value over the long term,” Heminger added.

Since the beginning of the year, MPC has contributed assets, including the third-quarter dropdown transaction, to MPLX LP (NYSE: MPLX) with a combined transaction value of $3.065 billion, resulting in consideration of $1.7 billion in after-tax cash proceeds and 32 million MPLX units. The company used a substantial portion of after-tax cash proceeds from the dropdowns to return $2.2 billion of capital to shareholders via dividends and share repurchases year-to-date. As a continuing demonstration of this commitment to create long-term value for shareholders, the company expects to repurchase at least $550 million of its shares in the fourth quarter.

Also as part of the strategic actions, a full and thorough review of Speedway has been completed. The company’s board of directors, based on the recommendation from its independent special committee, was unanimous in its conclusion that the greatest long-term value for shareholders is optimized with Speedway remaining a fully integrated business within MPC.

Continuing with the execution of its strategic actions, the company has offered the remaining identified dropdown to MPLX and the offer is currently under review by the conflicts committee of the MPLX board of directors. The dropdown includes refining logistics assets and fuels distribution services, with total projected annual earnings before interest, taxes, depreciation and amortization (EBITDA) of $1 billion. The transaction is expected to close in the first quarter of 2018. Further return of capital to shareholders is planned with the after-tax cash proceeds from the remaining dropdown, consistent with maintaining MPC's current investment grade credit profile. MPC also expects to exchange its general partner (GP) economic interests in MPLX for newly issued MPLX common units in conjunction with the closing of the

dropdown. This exchange will provide a clear valuation of MPC’s GP interest and is expected to reduce MPLX’s cost of capital for the long term.

MPC's Midstream segment, which largely reflects the results of MPLX, reported record financial results in the quarter, contributing $355 million in segment income from operations. The increase over the third quarter of last year was primarily due to record gathered, processed and fractionated volumes.

“MPLX delivered another exceptional quarter, continuing its track record of operational excellence and strong financial results,” Heminger said. “With visibility to strong growth opportunities through a robust portfolio of organic projects and strong distribution coverage, MPLX is well-positioned to be a significant source of long-term value for our investors, which will be further enhanced once the exchange of MPC’s GP economic interests is complete.”

MPLX continues to build on its strong footprint in the Marcellus, Permian and STACK shale plays. Total Northeast processing capacity has increased to approximately 5.8 billion cubic feet per day (cfd), up 400 million cfd, an increase of 7 percent, since the beginning of the year. Additionally, the partnership expects to add approximately 1.5 billion cfd of processing capacity, an increase of 19 percent, in 2018. Approximately 1.2 billion cfd of that increased capacity is in the Northeast, and approximately 300 million cfd is in the Southwest.

On the retail side, Speedway reported strong third-quarter segment income from operations of $209 million. Results were driven by solid light product and merchandise gross margins. Speedway’s new joint venture with Pilot Flying J also favorably impacted the quarter.

“Speedway continues to deliver top-tier operational and financial performance and has significant opportunities for growth over the long term,” Heminger said. “This performance, and its contribution to MPC, is further validation of Speedway's importance to our integrated model and its ability to generate substantial returns for our shareholders. We will continue to focus resources and capital to Speedway to drive additional value over the long term.”

The Refining & Marketing segment reported third-quarter segment income from operations of $1.097 billion, an $845 million increase from the third quarter of 2016. Results were largely driven by higher LLS-based blended crack spreads and the ability to maintain high utilization rates, with refinery throughputs exceeding 2 million barrels per day. Multiple refinery production records, including record crude throughput during the month of August, were achieved during the quarter in spite of the hurricanes in the Gulf Coast. These benefits were partially offset by less favorable product price realizations versus benchmark spot prices.

“We are encouraged by improving market fundamentals and prospects for a more balanced supply-and-demand environment going forward,” Heminger said. “With our fully integrated and flexible system, strategically located assets that provide excellent optionality, and a focus on operational excellence, we believe we have a sustainable long-term competitive advantage that drives real value for shareholders over the long term. We also believe the execution of the final steps in our strategic actions will be important sources of value and cash flow, further supporting MPC’s long-term value proposition for investors.”

Segment Results

Total income from operations was $1.58 billion in the third quarter of 2017, compared with $435 million in the third quarter of 2016.



	Three Months Ended September 30
(In millions)		2017			2016
Income from Operations by Segment
Refining & Marketing^(a)	$	1,097		$	252
Speedway		209			209
Midstream^(a)		355			310
Items not allocated to segments:
Corporate and other unallocated items^(a)		(86	)		(65	)
Pension settlement expenses		(1	)		(4	)
Litigation		—			—
Impairments		2			(267	)
Income from operations	$	1,576		$	435

^(a)

In the first quarter of 2017, segment reporting was revised in connection with the contribution of certain terminal, pipeline and storage assets to MPLX. The results related to these assets are now presented in the Midstream segment. Previously, these results were reported in the Refining & Marketing segment. The results for the pipeline and storage assets were recast effective Jan. 1, 2015, and the results for the terminal assets were recast effective April 1, 2016. Prior to these dates, these assets were not considered businesses and therefore there are no financial results from which to recast segment results.

Refining & Marketing

Refining & Marketing (R&M) segment income from operations was $1.1 billion in the third quarter of 2017, compared with $252 million in the same quarter of 2016. The increase in the segment results for the third-quarter 2017 from the third-quarter of 2016 was primarily a result of a $3.47 per barrel increase in the R&M gross margin. This favorable effect was due to significantly higher blended LLS-based crack spreads partially offset by less favorable product price realizations as compared to spot market reference prices. The U.S. Gulf Coast (USGC) and Chicago LLS blended 6-3-2-1 crack spread increased to $12.69 per barrel in the third quarter of 2017 from $8.08 per barrel in the third quarter of 2016, primarily due to an increase in the USGC crack spread. Refinery throughputs exceeded 2 million barrels per day in the third quarter of 2017 and crude oil capacity utilization was 102 percent for the third quarter of 2017 as compared to 100 percent for the third quarter of 2016.

Speedway

Speedway segment income from operations was $209 million in both the third quarter of 2017 and the third quarter of 2016. The comparable third-quarter-to-third-quarter segment results reflect the benefits of Speedway’s new joint venture with Pilot Flying J and reduced operating expenses, offset by lower light product gross margin, primarily driven by lower sales volume, and lower merchandise gross margin. Speedway’s new joint venture with Pilot Flying J commenced operations in the fourth quarter of 2016. Speedway’s light product margin was 17.72 cents per gallon in the third quarter of 2017 compared with 17.73 cents per gallon in the third quarter of 2016.

Midstream

Midstream segment income from operations, which primarily reflects the results of MPLX, was $355 million in the third quarter of 2017, compared with $310 million for the third quarter of 2016. The increase was primarily due to record gathered, processed and fractionated volumes at MPLX.

Items Not Allocated to Segments

Corporate and other unallocated expenses of $86 million in the third quarter of 2017 were $21 million higher than the third quarter of 2016, largely due to higher corporate expenses and an increase in employee benefit expenses.

Impairments in the third quarter of 2016 included a non-cash charge of $267 million related to the impairment of MPC's equity investment in the canceled Sandpiper Pipeline project.

Strong Financial Position and Liquidity

On Sept. 30, 2017, the company had $2.1 billion of cash and cash equivalents, excluding MPLX’s cash and cash equivalents of $3 million, $2.5 billion available under a revolving credit agreement, $1 billion available under a 364-day bank revolving credit facility and full availability under its $750 million trade receivables securitization facility. The company’s liquidity should provide it with sufficient flexibility to meet its day-to-day operational needs and continue its balanced approach to investing in the business and returning capital to shareholders.

Conference Call

At 9 a.m. EDT today, MPC will hold a conference call and webcast to discuss the reported results and provide an update on company operations. Interested parties may listen to the conference call by dialing 1-888-989-4720 (confirmation number 4852094) or by visiting MPC’s website at

http://www.marathonpetroleum.com and clicking on the “2017 Third-Quarter Financial Results” link. Replays of the conference call will be available on the company’s website through Thursday, Nov. 9. Financial information, including the earnings release and other investor-related material, will also be available online prior to the conference call and webcast at http://ir.marathonpetroleum.com in the Quarterly Investor Packet and Earnings Capsule.

###

About Marathon Petroleum Corporation

MPC is the nation’s third-largest refiner, with a crude oil refining capacity of approximately 1.8 million barrels per calendar day in its seven-refinery system. Marathon brand gasoline is sold through approximately 5,600 independently owned retail outlets across 20 states and the District of Columbia. In addition, Speedway LLC, an MPC subsidiary, owns and operates the nation’s second-largest convenience store chain, with approximately 2,730 convenience stores in 21 states. MPC owns, leases or has ownership interests in approximately 10,800 miles of crude oil and light product pipelines. Through subsidiaries, MPC owns the general partner of MPLX LP, a midstream master limited partnership. Through MPLX, MPC has ownership interests in gathering and processing facilities with approximately 5.9 billion cubic feet per day of gathering capacity, 8 billion cubic feet per day of natural gas processing capacity and 570,000 barrels per day of fractionation capacity. MPC’s fully integrated system provides operational flexibility to move crude oil, NGLs, feedstocks and petroleum-related products efficiently through the company’s distribution network and midstream service businesses in the Midwest, Northeast, East Coast, Southeast and Gulf Coast regions.

Investor Relations Contacts:

Lisa Wilson (419) 421-2071

Denice Myers (419) 421-2965

Doug Wendt (419) 421-2423

Media Contacts:

Chuck Rice (419) 421-2521

Katie Merx (419) 672-5159

References to Earnings

References to earnings mean net income attributable to MPC from the statements of income. Unless otherwise indicated, references to earnings and earnings per share are MPC’s share after excluding amounts attributable to noncontrolling interests.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of federal securities laws regarding Marathon Petroleum Corporation (“MPC“) and MPLX LP (“MPLX”). These forward-looking statements relate to, among other things, expectations, estimates and projections concerning the business and operations of MPC and MPLX, including proposed strategic initiatives and our value creation plans. You can identify forward-looking statements by words such as “anticipate,” “believe,” “design,” “estimate,” “expect,” “forecast,” “goal,” “guidance,” “imply,” “intend,” “objective,” “opportunity,” “outlook,” “plan,” “position,” “pursue,” “prospective,” “predict,” “project,” “potential,” “seek,” “strategy,” “target,” “could,” “may,” “should,” “would,” “will” or other similar expressions that convey the uncertainty of future events or outcomes. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the companies’ control and are difficult to predict. Factors that could cause MPC’s actual results to differ materially from those implied in the forward-looking statements include: the time, costs and ability to obtain regulatory or other approvals and consents and otherwise consummate the strategic initiatives discussed herein; the satisfaction or waiver of conditions in the agreements governing the strategic initiatives discussed herein; our ability to achieve the strategic and other objectives related to the strategic initiatives discussed herein; our ability to generate sufficient income and cash flow to effect the intended share repurchases, including within the expected timeframe; our ability to manage disruptions in credit markets or changes to our credit rating; the potential impact on our share price if we are unable to effect the intended share repurchases; adverse changes in laws including with respect to tax and regulatory matters; inability to agree with the MPLX conflicts committee with respect to the timing of and value attributed to assets identified for dropdown and/or the general partner economic interests; changes to the expected construction costs and timing of projects; continued/further volatility in and/or degradation of market and industry conditions; the availability and pricing of crude oil and other feedstocks; slower growth in domestic and Canadian crude supply; the effects of the lifting of the U.S. crude oil export ban; completion of pipeline capacity to areas outside the U.S. Midwest; consumer demand for refined products; transportation logistics; the reliability of processing units and other equipment; MPC’s ability to successfully implement growth opportunities; the impact of adverse market conditions affecting MPC’s and MPLX’s midstream businesses; modifications to MPLX earnings and distribution growth objectives, and other risks described below with respect to MPLX; compliance with federal and state environmental, economic, health and safety, energy and other policies and regulations, including the cost of compliance with the Renewable Fuel Standard, and/or enforcement actions initiated thereunder; adverse results in litigation; changes to MPC’s capital budget; other risk factors inherent to MPC’s industry; and the factors set forth under the heading “Risk Factors” in MPC’s Annual Report on Form 10-K for the year ended Dec. 31, 2016, filed with Securities and Exchange Commission (SEC). Factors that could cause MPLX’s actual results to differ materially from those implied in the forward-looking statements include: negative capital market conditions, including an increase of the current yield on common units, adversely affecting MPLX’s ability to meet its distribution growth guidance; the time, costs and ability to obtain regulatory or other approvals and consents and otherwise consummate the strategic initiatives discussed herein and other proposed transactions; the satisfaction or waiver of conditions in the agreements governing the strategic initiatives discussed herein and other proposed transactions; our ability to achieve the strategic and other objectives related to the strategic initiatives discussed herein and other proposed transactions; adverse changes in laws including with respect to tax and regulatory matters; inability to agree with respect to the timing of and value attributed to assets identified for dropdown and/or the general partner economic interests; the adequacy of MPLX’s capital resources and liquidity, including, but not limited to, availability of sufficient cash flow to pay distributions and access to debt to fund anticipated dropdowns on commercially reasonable terms, and the ability to successfully execute its business plans and growth strategy; the timing and extent of changes in commodity prices and demand for crude oil, refined products, feedstocks or other hydrocarbon-based products; continued/further volatility in and/or degradation of market and industry

conditions; changes to the expected construction costs and timing of projects; completion of midstream infrastructure by competitors; disruptions due to equipment interruption or failure, including electrical shortages and power grid failures; the suspension, reduction or termination of MPC’s obligations under MPLX’s commercial agreements; modifications to earnings and distribution growth objectives; the level of support from MPC, including dropdowns, alternative financing arrangements, taking equity units, and other methods of sponsor support, as a result of the capital allocation needs of the enterprise as a whole and its ability to provide support on commercially reasonable terms; compliance with federal and state environmental, economic, health and safety, energy and other policies and regulations and/or enforcement actions initiated thereunder; adverse results in litigation; changes to MPLX's capital budget; other risk factors inherent to MPLX’s industry; and the factors set forth under the heading “Risk Factors” in MPLX’s Annual Report on Form 10-K for the year ended Dec. 31, 2016, filed with the SEC. In addition, the forward-looking statements included herein could be affected by general domestic and international economic and political conditions. Unpredictable or unknown factors not discussed here, in MPC’s Form 10-K or in MPLX’s Form 10-K could also have material adverse effects on forward-looking statements. Copies of MPC’s Form 10-K are available on the SEC website, MPC’s website at http://ir.marathonpetroleum.com or by contacting MPC’s Investor Relations office. Copies of MPLX’s Form 10-K are available on the SEC website, MPLX’s website at http://ir.mplx.com or by contacting MPLX’s Investor Relations office.

Consolidated Statements of Income (Unaudited)



	Three Months Ended September 30						Nine Months Ended September 30
(In millions, except per-share data)		2017			2016			2017			2016
Revenues and other income:
Sales and other operating revenues (including consumer excise taxes)	$	19,053		$	16,616		$	53,220		$	46,179
Sales to related parties		157			2			458			5
Income (loss) from equity method investments		84			(208	)		224			(236	)
Net gain on disposal of assets		—			1			12			26
Other income		92			49			219			106
Total revenues and other income		19,386			16,460			54,133			46,080
Costs and expenses:
Cost of revenues (excludes items below)		14,605			12,944			41,913			35,475
Purchases from related parties		148			128			420			359
Inventory market valuation adjustment		—			—			—			(370	)
Consumer excise taxes		2,012			1,914			5,751			5,633
Impairment expense		—			—			—			130
Depreciation and amortization		517			507			1,574			1,497
Selling, general and administrative expenses		412			420			1,286			1,199
Other taxes		116			112			339			332
Total costs and expenses		17,810			16,025			51,283			44,255
Income from operations		1,576			435			2,850			1,825
Net interest and other financial income (costs)		(157	)		(141	)		(465	)		(420	)
Income before income taxes		1,419			294			2,385			1,405
Provision for income taxes		415			75			706			481
Net income		1,004			219			1,679			924
Less net income (loss) attributable to:
Redeemable noncontrolling interest		16			16			49			25
Noncontrolling interests		85			58			214			(48	)
Net income attributable to MPC	$	903		$	145		$	1,416		$	947

Per-share data
Basic:
Net income attributable to MPC per share	$	1.79		$	0.28		$	2.75		$	1.79
Weighted average shares:		504			527			514			528
Diluted:
Net income attributable to MPC per share	$	1.77		$	0.27		$	2.73		$	1.78
Weighted average shares:		508			530			518			531
Dividends paid	$	0.40		$	0.36		$	1.12		$	1.00

Supplemental Statistics (Unaudited)



	Three Months Ended September 30						Nine Months Ended September 30
(In millions)		2017			2016			2017			2016
Income from Operations by segment
Refining & Marketing^(a)(b)	$	1,097		$	252		$	1,589		$	1,191
Speedway^(b)		209			209			583			569
Midstream^(a)		355			310			996			752
Items not allocated to segments:
Corporate and other unallocated items^(a)		(86	)		(65	)		(251	)		(194	)
Pension settlement expenses		(1	)		(4	)		(2	)		(7	)
Litigation		—			—			(86	)		—
Impairments^(c)		2			(267	)		21			(486	)
Income from operations		1,576			435			2,850			1,825
Net interest and other financial income (costs)		(157	)		(141	)		(465	)		(420	)
Income before income taxes		1,419			294			2,385			1,405
Provision for income taxes		415			75			706			481
Net income		1,004			219			1,679			924
Less net income (loss) attributable to:
Redeemable noncontrolling interest		16			16			49			25
Noncontrolling interests		85			58			214			(48	)
Net income attributable to MPC	$	903		$	145		$	1,416		$	947

Capital Expenditures and Investments
Refining & Marketing	$	198		$	251		$	570		$	756
Speedway		108			71			221			191
Midstream^(d)		453			410			2,017			1,179
Corporate and Other^(e)		32			29			92			106
Total	$	791		$	761		$	2,900		$	2,232

^(a)


^(b)	Includes non-cash LCM inventory valuation benefit of $370 million for the nine months ended September 30, 2016. The benefit increased Refining & Marketing and Speedway segment income by $345 million and $25 million, respectively, for the nine months ended September 30, 2016.


^(c)	The three and nine months ended September 30, 2017, includes MPC's share of gains related to the sale of assets remaining from the Sandpiper pipeline project. The three and nine months ended September 30, 2016, includes impairments of equity method investments. The nine months ended September 30, 2016, also includes an impairment of goodwill.


^(d)	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 in the nine months ended September 30, 2017.


^(e)	Includes capitalized interest of $13 million, $15 million, $39 million and $47 million respectively.

Supplementary Statistics (Unaudited) (continued)



	Three Months Ended September 30				Nine Months Ended September 30
		2017		2016		2017		2016
MPC Consolidated Refined Product Sales Volumes (thousands of barrels per day (mbpd)^(a)		2,357		2,316		2,272		2,274
Refining & Marketing (R&M) Operating Statistics
R&M refined product sales volume (mbpd)^(b)		2,357		2,307		2,263		2,265
R&M gross margin (dollars per barrel)^(c)	$	14.14	$	10.67	$	12.42	$	11.11
Crude oil capacity utilization (percent)^(d)		102		100		96		95
Refinery throughputs (mbpd):^(e)
Crude oil refined		1,845		1,791		1,741		1,708
Other charge and blendstocks		172		135		176		156
Total		2,017		1,926		1,917		1,864
Sour crude oil throughput (percent)		57		59		61		60
WTI-priced crude oil throughput (percent)		23		20		20		20
Refined product yields (mbpd):^(e)
Gasoline		939		907		910		908
Distillates		673		647		627		616
Propane		38		38		35		35
Feedstocks and special products		298		253		285		245
Heavy fuel oil		45		43		36		36
Asphalt		67		70		64		58
Total		2,060		1,958		1,957		1,898
Refinery direct operating costs ($/barrel):^(f)
Planned turnaround and major maintenance	$	1.20	$	1.62	$	1.69	$	1.72
Depreciation and amortization		1.34		1.42		1.44		1.46
Other manufacturing^(g)		3.83		4.01		4.10		4.03
Total	$	6.37	$	7.05	$	7.23	$	7.21
R&M Operating Statistics by Region - Gulf Coast
Refinery throughputs (mbpd):^(h)
Crude oil refined		1,123		1,073		1,041		1,057
Other charge and blendstocks		217		185		219		199
Total		1,340		1,258		1,260		1,256
Sour crude oil throughput (percent)		69		72		75		73
WTI-priced crude oil throughput (percent)		14		8		10		7
Refined product yields (mbpd):^(h)
Gasoline		538		511		525		530
Distillates		438		411		393		407
Propane		25		27		25		26
Feedstocks and special products		326		289		310		283
Heavy fuel oil		31		30		24		24
Asphalt		19		17		17		15
Total		1,377		1,285		1,294		1,285
Refinery direct operating costs ($/barrel):^(f)
Planned turnaround and major maintenance	$	0.90	$	2.05	$	1.86	$	1.87
Depreciation and amortization		1.05		1.14		1.15		1.13
Other manufacturing^(g)		3.52		3.70		3.81		3.62
Total	$	5.47	$	6.89	$	6.82	$	6.62

Supplementary Statistics (Unaudited) (continued)



	Three Months Ended September 30						Nine Months Ended September 30
		2017			2016			2017			2016
R&M Operating Statistics by Region - Midwest
Refinery throughputs (mbpd):^(h)
Crude oil refined		722			718			700			651
Other charge and blendstocks		35			39			31			37
Total		757			757			731			688
Sour crude oil throughput (percent)		38			39			41			39
WTI-priced crude oil throughput (percent)		38			39			34			41
Refined product yields (mbpd):^(h)
Gasoline		401			396			385			378
Distillates		235			236			234			209
Propane		14			13			11			11
Feedstocks and special products		50			51			47			40
Heavy fuel oil		15			13			13			12
Asphalt		48			53			47			43
Total		763			762			737			693
Refinery direct operating costs ($/barrel):^(f)
Planned turnaround and major maintenance	$	1.60		$	0.72		$	1.22		$	1.26
Depreciation and amortization		1.72			1.72			1.80			1.90
Other manufacturing^(g)		3.96			4.04			4.19			4.29
Total	$	7.28		$	6.48		$	7.21		$	7.45
Speedway Operating Statistics⁽ⁱ⁾
Convenience stores at period-end		2,734			2,773
Gasoline and distillate sales (millions of gallons)		1,464			1,575			4,332			4,605
Gasoline and distillate gross margin (dollars per gallon)^(j)	$	0.1772		$	0.1773		$	0.1727		$	0.1668
Merchandise sales (in millions)	$	1,295		$	1,338		$	3,693		$	3,777
Merchandise gross margin (in millions)	$	374		$	386		$	1,065		$	1,085
Merchandise gross margin percent		28.9	%		28.9	%		28.8	%		28.7	%
Same store gasoline sales volume (period over period)		(3.1	)%		(0.6	)%		(1.6	)%		0.2	%
Same store merchandise sales (period over period)^(k)		0.3	%		4.0	%		1.5	%		3.0	%
Midstream Operating Statistics
Crude oil and refined product pipeline throughputs (mbpd)^(l)		3,562			3,113			3,299			2,953
Terminal throughput (mbpd)^(m)		1,496			1,517			1,470			1,510
Gathering system throughput (million cubic feet per day)⁽ⁿ⁾		3,729			3,306			3,415			3,313
Natural gas processed (million cubic feet per day)⁽ⁿ⁾		6,581			5,906			6,336			5,691
C2 (ethane) + NGLs fractionated (mbpd)⁽ⁿ⁾		397			348			384			330


^(a)	Total average daily volumes of refined product sales to wholesale, branded and retail customers.


^(b)	Includes intersegment sales.


^(c)	Excludes LCM inventory valuation adjustments. Sales revenue less cost of refinery inputs and purchased products, divided by total refinery throughputs. Comparable prior period information for gross margin has been recast in connection with the contribution of certain pipeline assets to MPLX on March 1, 2017.


^(d)	Based on calendar day capacity, which is an annual average that includes downtime for planned maintenance and other normal operating activities.


^(e)	Excludes inter-refinery volumes of 80 mbpd and 89 mbpd for third quarter 2017 and 2016, respectively and 74 mbpd and 80 mbpd for the nine months ended September 30, 2017, and 2016, respectively.


^(f)	Per barrel of total refinery throughputs.


^(g)	Includes utilities, labor, routine maintenance and other operating costs.


^(h)	Includes inter-refinery transfer volumes.


⁽ⁱ⁾	Third quarter and year-to-date 2017 operating statistics do not reflect any information for the 41 travel centers contributed to PFJ Southeast, whereas they are reflected in the third quarter and year-to-date 2016 operating statistics.


^(j)	Excludes LCM inventory valuation adjustments. The price paid by consumers less the cost of refined products, including transportation, consumer excise taxes and bankcard processing fees, divided by gasoline and distillate sales volumes.


^(k)	Excludes cigarettes.


^(l)	Includes common-carrier pipelines and private pipelines contributed to MPLX, excluding equity method investments.


^(m)	Includes the results of the terminal assets contributed to MPLX from the date the assets became a business, April 1, 2016.


⁽ⁿ⁾	Includes amounts related to unconsolidated equity method investments on a 100% basis.

Segment Earnings Before Interest, Taxes, Depreciation & Amortization (Segment EBITDA) (Unaudited)



	Three Months Ended September 30						Nine Months Ended September 30
(In millions)		2017			2016			2017			2016
Segment EBITDA^(a)
Refining & Marketing^(b)(c)	$	1,363		$	519		$	2,394		$	1,992
Speedway^(c)		277			280			780			772
Midstream^(b)		524			465			1,524			1,200
Total Segment EBITDA^(a)		2,164			1,264			4,698			3,964
Total segment depreciation & amortization		(503	)		(493	)		(1,530	)		(1,452	)
Items not allocated to segments^(b)(d)		(85	)		(336	)		(318	)		(687	)
Income from operations		1,576			435			2,850			1,825
Net interest and other financial income (costs)		(157	)		(141	)		(465	)		(420	)
Income before income taxes		1,419			294			2,385			1,405
Income tax provision		415			75			706			481
Net income		1,004			219			1,679			924
Less net income (loss) attributable to:
Redeemable noncontrolling interest		16			16			49			25
Noncontrolling interests		85			58			214			(48	)
Net income attributable to MPC	$	903		$	145		$	1,416		$	947

^(a)

Segment EBITDA represents segment earnings before interest and financing costs, interest income, income taxes and depreciation and amortization expense. Segment EBITDA is used by some investors and analysts to analyze and compare companies on the basis of operating performance. Segment EBITDA should not be considered as an alternative to net income attributable to MPC, income before income taxes, cash flows from operating activities or any other measure of financial performance presented in accordance with accounting principles generally accepted in the United States. Segment EBITDA may not be comparable to similarly titled measures used by other entities.

^(b)


^(c)	Includes non-cash LCM inventory valuation benefit of $370 million for the nine months ended September 30, 2016. The benefit increased Refining & Marketing and Speedway segment income by $345 million and $25 million, respectively, for the nine months ended September 30, 2016.

^(d)

The three months ended September 30, 2017, includes MPC's share of gains related to the sale of assets remaining from the Sandpiper pipeline project of $2 million. The nine months ended September 30, 2017, includes charges for estimated losses of $86 million related to litigation and MPC's share of gains related to the sale of assets from the Sandpiper pipeline project of $21 million. The three and nine months ended September 30, 2016, includes impairment charges of $267 million and $486 million, respectively.

Select Financial Data (Unaudited)



(In millions)	September 30 2017		June 30 2017
Cash and cash equivalents	$	2,088	$	1,450
MPLX debt		6,849		6,667
Total consolidated debt		12,782		12,606
Redeemable noncontrolling interest		1,000		1,000
Equity		19,802		19,564
Debt-to-total-capital ratio (percent)		38		38
Shares outstanding		498		506

Cash provided from operations (quarter ended)	$	1,901	$	849