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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents [1] $ 415 $ 1,393
Receivables, less allowance for doubtful accounts 5,760 7,233
Inventories 7,999 9,804
Other current assets 2,724 893
Assets held for sale 11,389 11,135
Total current assets 28,287 30,458
Equity method investments 5,422 6,568
Property, plant and equipment, net 39,035 40,870
Goodwill 8,256 15,650
Right of use assets 1,521 1,806
Other noncurrent assets 2,637 3,204
Total assets 85,158 98,556
Current liabilities:    
Accounts payable 7,803 11,222
Payroll and benefits payable 732 987
Accrued taxes 1,105 1,015
Debt due within one year 2,854 704
Operating lease liabilities 497 514
Other current liabilities 822 758
Liabilities held for sale 1,850 1,748
Total current liabilities 15,663 16,948
Long-term debt 28,730 28,020
Deferred income taxes 6,203 6,392
Defined benefit postretirement plan obligations 2,121 1,617
Long-term operating lease liabilities 1,014 1,300
Deferred credits and other liabilities 1,207 1,172
Total liabilities 54,938 55,449
Commitments and contingencies (see Note 29)
Redeemable noncontrolling interest 968 968
MPC stockholders’ equity:    
Preferred stock, no shares issued and outstanding (par value $0.01 per share, 30 million shares authorized) 0 0
Common stock:    
Issued – 980 million and 978 million shares (par value $0.01 per share, 2 billion shares authorized) 10 10
Held in treasury, at cost – 329 million and 329 million shares (15,157) (15,143)
Additional paid-in capital 33,208 33,157
Retained earnings 4,650 15,990
Accumulated other comprehensive loss (512) (320)
Total MPC stockholders’ equity 22,199 33,694
Noncontrolling interests 7,053 8,445
Total equity 29,252 42,139
Total liabilities, redeemable noncontrolling interest and equity $ 85,158 $ 98,556
[1] Excludes $140 million and $134 million of cash included in assets held for sale representing Speedway store cash.