Marathon Petroleum Corporation (NYSE:MPC) Files An 8-K Results of Operations and Financial Condition
Item 2.02
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Results of Operations and Financial Condition.
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on April 27, 2017, Marathon Petroleum Corporation (MPC) completed
the contribution of certain terminal, pipeline and storage assets
to its sponsored master limited partnership, MPLX LP, on March 1,
2017. In connection with the contribution of these terminal,
pipeline and storage assets to MPLX LP, MPC revised its segment
reporting presentation in the first quarter of 2017. In previous
periods, these terminal, pipeline and storage assets were
presented as part of MPC’s Refining Marketing segment. In the
revised segment reporting presentation, they are presented in
MPCs Midstream segment. Comparable prior period information in
the Marathon Petroleum Corporation First Quarter 2017 Investor
Relations Packet (the Investor Relations Packet) has been recast
to reflect MPCs revised segment presentation. The results for the
pipeline and storage assets were recast effective January 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 for accounting purposes and therefore there
are no financial results from which to recast segment results.
The Investor Relations Packet is being furnished as Exhibit 99.1
to this Current Report on Form 8-K and is incorporated herein by
reference. The Investor Relations Packet can be found on the
Investor Relations page of the MPC website at
www.marathonpetroleum.com.
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit
Number
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Description
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99.1
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Marathon Petroleum Corporation First Quarter 2017
Investor Relations Packet |
About Marathon Petroleum Corporation (NYSE:MPC)
Marathon Petroleum Corporation is engaged in petroleum product refining, marketing, retail and transportation businesses in the United States and the east of the Mississippi. The Company’s segments include Refining & Marketing, Speedway, and Midstream. Its Refining & Marketing segment refines crude oil and other feedstocks at its approximately seven refineries in the Gulf Coast and Midwest regions of the United States, purchases ethanol and refined products for resale and distributes refined products. It sells refined products to wholesale marketing customers domestically and internationally, buyers on the spot market, its Speedway business segment and to independent entrepreneurs operating Marathon retail outlets. The Speedway segment sells transportation fuels and convenience products in the retail market in the Midwest, East Coast and Southeast. The Midstream segment gathers, processes and transports natural gas, and transports and stores crude oil and refined products. Marathon Petroleum Corporation (NYSE:MPC) Recent Trading Information
Marathon Petroleum Corporation (NYSE:MPC) closed its last trading session up +0.01 at 50.95 with 3,648,520 shares trading hands.
