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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Marathon Petroleum Corporation | NYSE:MPC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-2.52 | -1.39% | 179.20 | 184.06 | 176.87 | 181.10 | 3,856,678 | 01:00:00 |
ý
|
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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¨
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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A.
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Full title of the plan and the address of the plan, if different from that of the issuer named below:
|
B.
|
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
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Page(s)
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|
|
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Financial Statements:
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|
|
|
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Supplementary Information:
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|
|
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Note: Other schedules required by Section 2520.103–10 of the Department of Labor’s Rules and Regulations for Reporting and Disclosure under
ERISA have been omitted because they are not applicable.
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2019
|
|
2018
|
||||
Assets
|
|
|
|
|
||||
Investments, at fair value
|
|
$
|
5,372,927,459
|
|
|
$
|
2,637,981,093
|
|
Investments at contract value
|
|
370,766,987
|
|
|
356,953,028
|
|
||
Total Investments
|
|
5,743,694,446
|
|
|
2,994,934,121
|
|
||
|
|
|
|
|
||||
Notes receivable from participants
|
|
123,185,568
|
|
|
76,930,148
|
|
||
Employer contributions receivable
|
|
21,564,097
|
|
|
11,069,391
|
|
||
Other
|
|
1,953,463
|
|
|
230,304
|
|
||
Total Assets
|
|
$
|
5,890,397,574
|
|
|
$
|
3,083,163,964
|
|
Net Assets Available for Benefits
|
|
$
|
5,890,397,574
|
|
|
$
|
3,083,163,964
|
|
|
|
||
Additions
|
|
||
Additions to net assets attributed to
|
|
||
Investment income
|
|
||
Net increase in fair value of investments
|
$
|
661,296,986
|
|
Interest
|
8,021,602
|
|
|
Dividends
|
81,028,224
|
|
|
Total investment income
|
750,346,812
|
|
|
|
|
||
Interest income from notes receivable from participants
|
5,147,102
|
|
|
|
|
||
Contributions
|
|
||
Participants
|
284,098,227
|
|
|
Employer
|
213,193,046
|
|
|
Rollovers
|
90,948,250
|
|
|
Total contributions
|
588,239,523
|
|
|
Total additions
|
1,343,733,437
|
|
|
|
|
||
Deductions
|
|
||
Deductions from net assets attributed to
|
|
||
Benefits paid to participants
|
439,441,916
|
|
|
Plan expenses
|
3,032,450
|
|
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Total deductions
|
442,474,366
|
|
|
|
|
||
Increase in assets available for benefits
|
901,259,071
|
|
|
|
|
||
Net assets available for benefits
|
3,984,423,035
|
|
|
|
|
||
Transfers
|
1,905,974,539
|
|
|
|
|
||
Net assets available for benefits
|
|
||
Beginning of year
|
3,083,163,964
|
|
|
End of year
|
$
|
5,890,397,574
|
|
|
|
1.
|
Description of Plan
|
2.
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Summary of Significant Accounting Policies
|
3.
|
Fair Value Measurements
|
|
Level 1 inputs consist of unadjusted quoted prices in active markets for identical assets and liabilities and have the highest priority;
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|
|
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Level 2 inputs consist of observable market-based inputs or unobservable inputs that are corroborated by market data, and are either directly or indirectly observable as of the measurements date; and
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Level 3 inputs are unobservable inputs that are not corroborated by market data and may be used with internally developed methodologies that result in management’s best estimate of fair value. These inputs have the lowest priority.
|
|
|
December 31, 2019
|
||||||||||||||
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Level 1
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Level 2
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Level 3
|
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Total
|
||||||||
Mutual funds
|
|
2,067,622,179
|
|
|
—
|
|
|
—
|
|
|
$
|
2,067,622,179
|
|
|||
Common/collective trusts
|
|
—
|
|
|
2,453,900,314
|
|
|
—
|
|
|
$
|
2,453,900,314
|
|
|||
Self-directed Brokerage Accounts*
|
|
129,315,569
|
|
|
—
|
|
|
—
|
|
|
$
|
129,315,569
|
|
|||
Marathon Petroleum Corporation ("MPC") Common Stock
|
|
713,210,324
|
|
|
—
|
|
|
—
|
|
|
$
|
713,210,324
|
|
|||
Marathon Oil Corporation ("MRO") Common Stock
|
|
8,879,073
|
|
|
—
|
|
|
—
|
|
|
$
|
8,879,073
|
|
|||
Total investments at fair value
|
|
$
|
2,919,027,145
|
|
|
$
|
2,453,900,314
|
|
|
$
|
—
|
|
|
$
|
5,372,927,459
|
|
*
|
Includes interest-bearing cash
|
|
|
December 31, 2018
|
||||||||||||||
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Mutual funds
|
|
1,000,577,692
|
|
|
—
|
|
|
—
|
|
|
$
|
1,000,577,692
|
|
|||
Common/collective trusts
|
|
—
|
|
|
1,136,946,880
|
|
|
—
|
|
|
$
|
1,136,946,880
|
|
|||
Self-directed Brokerage Accounts*
|
|
93,634,158
|
|
|
—
|
|
|
—
|
|
|
$
|
93,634,158
|
|
|||
MPC Common Stock
|
|
396,021,111
|
|
|
—
|
|
|
—
|
|
|
$
|
396,021,111
|
|
|||
MRO Common Stock
|
|
10,801,252
|
|
|
—
|
|
|
—
|
|
|
$
|
10,801,252
|
|
|||
Total investments at fair value
|
|
$
|
1,501,034,213
|
|
|
$
|
1,136,946,880
|
|
|
$
|
—
|
|
|
$
|
2,637,981,093
|
|
*
|
Includes interest-bearing cash
|
4.
|
Stable Value Fund
|
5.
|
Party-in-Interest Transactions
|
6.
|
Plan Termination
|
7.
|
Tax Status
|
8.
|
Risks and Uncertainties
|
9.
|
Subsequent Events
|
|
|
|
|
|
|
||
(a)
|
(b)
|
(c)
|
(d)
|
|
(d)
|
||
|
Identity of Issue, Borrower
Lessor or Similar Party |
Description of Investment
|
Cost
|
|
Current
Value |
||
*
|
Marathon Petroleum Corporation
|
Marathon Petroleum Corporation Common Stock - 11,837,516 shares
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|
|
$
|
713,210,324
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Marathon Oil Corporation
|
Marathon Oil Corporation Common Stock - 653,835 shares
|
|
|
$
|
8,879,073
|
|
|
|
|
|
|
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||
|
Investment Trust Shares
|
|
|
|
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||
*
|
Fidelity Government Income Fund
|
Investment Company - 2,620,024 shares
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|
|
$
|
27,457,851
|
|
*
|
Fidelity 500 Index Adv Is
|
Investment Company - 4,684,909 shares
|
|
|
$
|
524,803,478
|
|
*
|
Fidelity International Index IPR
|
Investment Company - 4,063,946 shares
|
|
|
$
|
174,587,138
|
|
*
|
Fidelity Extended Market Index
|
Investment Company - 2,361,287 shares
|
|
|
$
|
153,696,147
|
|
*
|
Fidelity Investments MM Government
|
Investment Company - 143,325,169 shares
|
|
|
$
|
143,325,169
|
|
*
|
Fidelity Low-Priced Stock Pool
|
Investment Company - 4,832,428 shares
|
|
|
$
|
78,140,359
|
|
*
|
Fidelity Growth Company Pool
|
Investment Company - 10,445,844 shares
|
|
|
$
|
264,906,602
|
|
*
|
Fidelity Contrafund Pool
|
Investment Company - 16,409,720 shares
|
|
|
$
|
336,891,543
|
|
*
|
Fidelity International Discovery Pool
|
Investment Company - 9,198,414 shares
|
|
|
$
|
128,593,821
|
|
*
|
FIAM Target Date Income Commingled Pool Class T
|
Investment Company - 725,505 shares
|
|
|
$
|
10,947,869
|
|
*
|
FIAM Target Date 2005 Commingled Pool Class T
|
Investment Company - 309,964 shares
|
|
|
$
|
5,077,218
|
|
*
|
FIAM Target Date 2010 Commingled Pool Class T
|
Investment Company - 547,746 shares
|
|
|
$
|
9,837,526
|
|
*
|
FIAM Target Date 2015 Commingled Pool Class T
|
Investment Company - 1,979,207 shares
|
|
|
$
|
36,516,367
|
|
*
|
FIAM Target Date 2020 Commingled Pool Class T
|
Investment Company - 8,313,751 shares
|
|
|
$
|
152,474,196
|
|
*
|
FIAM Target Date 2025 Commingled Pool Class T
|
Investment Company - 12,795,627 shares
|
|
|
$
|
246,315,821
|
|
*
|
FIAM Target Date 2030 Commingled Pool Class T
|
Investment Company - 13,850,803 shares
|
|
|
$
|
268,151,551
|
|
*
|
FIAM Target Date 2035 Commingled Pool Class T
|
Investment Company - 11,822,893 shares
|
|
|
$
|
240,477,634
|
|
*
|
FIAM Target Date 2040 Commingled Pool Class T
|
Investment Company - 9,554,020 shares
|
|
|
$
|
192,417,973
|
|
*
|
FIAM Target Date 2045 Commingled Pool Class T
|
Investment Company - 9,398,831 shares
|
|
|
$
|
190,138,350
|
|
*
|
FIAM Target Date 2050 Commingled Pool Class T
|
Investment Company - 8,263,336 shares
|
|
|
$
|
164,770,923
|
|
*
|
FIAM Target Date 2055 Commingled Pool Class T
|
Investment Company - 4,650,077 shares
|
|
|
$
|
99,418,642
|
|
*
|
FIAM Target Date 2060 Commingled Pool Class T
|
Investment Company - 1,985,849 shares
|
|
|
$
|
28,457,213
|
|
*
|
FIAM Target Date 2065 Commingled Pool Class T
|
Investment Company - 32,742 shares
|
|
|
$
|
366,706
|
|
|
|
|
|
|
|
||
(a)
|
(b)
|
(c)
|
(d)
|
|
(d)
|
||
|
Identity of Issue, Borrower
Lessor or Similar Party |
Description of Investment
|
Cost
|
|
Current
Value |
||
|
Dodge and Cox Income
|
Investment Company - 13,391,686 shares
|
|
|
$
|
187,885,356
|
|
|
Vanguard Value Index Inst
|
Investment Company - 2,987,716 shares
|
|
|
$
|
139,735,462
|
|
|
Baird Mid Cap Inst
|
Investment Company - 9,847,974 shares
|
|
|
$
|
225,518,600
|
|
|
DFA Emerging Markets Value
|
Investment Company - 2,489,751 shares
|
|
|
$
|
71,430,970
|
|
|
Vanguard Small Cap Index Inst
|
Investment Company - 945,848
|
|
|
$
|
75,071,979
|
|
|
Vanguard Total Bond Market Is Pl
|
Investment Company - 16,242,838 shares
|
|
|
$
|
179,483,362
|
|
|
WF Spl Mid CP Val R6
|
Investment Company - 3,899,258 shares
|
|
|
$
|
164,626,669
|
|
(a)
|
(b)
|
(c)
|
(d)
|
|
(e)
|
||||
|
Identity of Issue, Borrower
Lessor or Similar Party
|
Description of investment including maturity date, rate of interest, collateral, par, or maturity value
|
Cost
|
|
Current
Value
|
||||
|
Stable Value Contract Carriers
|
|
|
|
|
||||
|
Chase Manhattan Bank
|
Actively Managed Global Wrap**
|
|
|
|
||||
|
Wrapper Contract MARAPETRO-7-111
|
2.26%
|
|
|
$
|
62,536,926
|
|
||
|
State Street Bank & Trust Company Boston
|
Actively Managed Global Wrap**
|
|
|
|
||||
|
Wrapper Contract 111013
|
2.26%
|
|
|
$
|
41,353,367
|
|
||
|
American General Life
|
Actively Managed Global Wrap**
|
|
|
|
||||
|
Wrapper Contract 1627813
|
2.25%
|
|
|
$
|
43,301,751
|
|
||
|
TransAmerica Premier Life
|
Actively Managed Global Wrap**
|
|
|
|
||||
|
Wrapper Contract MDA01324TR-00
|
2.26%
|
|
|
$
|
67,258,981
|
|
||
|
Prudential Insurance Co. America
|
Actively Managed Global Wrap**
|
|
|
|
||||
|
Wrapper Contract 062473001
|
2.24%
|
|
|
$
|
75,459,704
|
|
||
|
Nationwide Life Insurance
|
Actively Managed Global Wrap**
|
|
|
|
||||
|
Wrapper Contract FID_MAP_IP-1013
|
2.25%
|
|
|
$
|
39,048,289
|
|
||
|
Lincoln National Life Insurance
|
Actively Managed Global Wrap**
|
|
|
|
||||
|
Wrapper Contract WVW0042F
|
2.25%
|
|
|
$
|
13,939,400
|
|
||
|
Pacific Life Insurance
|
Actively Managed Global Wrap**
|
|
|
|
||||
|
Wrapper Contract G-027835.19
|
2.25%
|
|
|
$
|
10,110,866
|
|
||
|
Metropolitan Life Insurance
|
Actively Managed Global Wrap**
|
|
|
|
||||
|
Wrapper Contract 38086
|
2.26%
|
|
|
$
|
10,879,154
|
|
||
|
|
|
|
|
|
||||
*
|
Fidelity Management Trust Company
|
Interest-Bearing Cash-Fidelity Institutional Cash
Portfolios; Money Market Portfolio; Class A Money Market Pool
Discount rate - 1.55%
|
|
|
$
|
6,878,549
|
|
||
|
|
|
|
|
|
||||
|
Brokerage Link
|
Self-Directed Brokerage Accounts
|
|
|
$
|
129,315,569
|
|
||
|
|
|
|
|
|
||||
*
|
Fidelity Management Trust Company
|
Loans to Plan Participants; 3.25%-9.94%; due 1/1/20 - 12/31/2024
|
—
|
|
|
$
|
123,185,568
|
|
|
|
Totals
|
|
$
|
—
|
|
|
$
|
5,866,880,013
|
|
*
|
Indicates party-in-interest.
|
**
|
A SIC is comprised of two components, an underlying asset and a wrapper contract. The underlying assets are valued at representative quoted market prices. The wrapper contracts are valued by using replacement cost methodology. Contract value represents contributions made under the contract, plus earnings, less Plan withdrawals and administrative expenses. The wrapper contract guarantees the SIC contract value.
|
Exhibit Number
|
|
Description of the Exhibit
|
23.1
|
|
|
|
|
|
|
|
|
|
|
|
|
Marathon Petroleum Thrift Plan
|
||
|
|
|
|
|||
Date: June 26, 2020
|
|
|
|
By:
|
|
/s/ Jonathan M. Osborne
|
|
|
|
|
|
|
Jonathan M. Osborne
|
|
|
|
|
|
|
Plan Administrator
|
1 Year Marathon Petroleum Chart |
1 Month Marathon Petroleum Chart |
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