MPC · 10-Q · 2026Q3 · Full report

Income Tax Rate Changes

Marathon Petroleum Corp · 2026-11-03 · Importance 57 · Surprise 64

MPC recorded a $2.285 billion income tax provision for the third quarter of 2026, compared with $460 million in the third quarter of 2025; the 2026 provision was higher than the U.S. statutory rate. For the first nine months, the provision was $3.912 billion, compared with $765 million in 2025, and was also higher than the statutory rate. State taxes drove the above-statutory provision, partly offset by permanent tax benefits related to noncontrolling-interest income and cross-border tax impacts; the 2025 provisions were below the statutory rate primarily because of noncontrolling-interest tax benefits, partly offset by state taxes.

Key facts

• Marathon Petroleum's combined federal, state and foreign income tax provision was $3.91 billion for the nine months ended September 30, 2026, higher than the U.S. statutory rate primarily due to state taxes. source
• Marathon Petroleum's combined federal, state and foreign income tax provision was $2.29 billion for the three months ended September 30, 2026, higher than the U.S. statutory rate primarily due to state taxes. source
• Marathon Petroleum's combined federal, state and foreign income tax provision was $765 million for the nine months ended September 30, 2025, lower than the U.S. statutory rate primarily due to permanent tax benefits related to net income attributable to noncontrolling interests. source
• Marathon Petroleum's combined federal, state and foreign income tax provision was $460 million for the three months ended September 30, 2025, lower than the U.S. statutory rate primarily due to permanent tax benefits related to net income attributable to noncontrolling interests. source