MPLX (MPLX) 8-K Results of Operations and Financial Condition

Exhibit 99.1

UNAUDITED QUARTERLY STATEMENTS OF INCOME

	Three months ended March 31, 2016
	MPLX Historical		HST/WHC	Adjustments for contribution to MPC		Total MPLX
Revenues and other income:
Service revenue	229		—	—		229
Service revenue - related parties	150		27	—		177
Rental income	70		—	—		70
Rental income - related parties	26		12	—		38
Product sales	100		—	—		100
Product sales - related parties	3		—	—		3
Income (loss) from equity method investments	5		—	—		5
Other income	2		—	—		2
Other income - related parties	24		—	(3	)	21
Total revenues and other income	609		39	(3	)	645
Costs and expenses:
Cost of revenues (excludes items below)	89		5	—		94
Purchased product costs	79		—	—		79
Rental cost of sales	14		—	—		14
Purchases - related parties	76		5	(3	)	78
Depreciation and amortization	132		4	—		136
Impairment expense	129		—	—		129
General and administrative expenses	52		1	—		53
Other taxes	11		1	—		12
Total costs and expenses	582		16	(3	)	595
Income from operations	27		23	—		50
Related party interest and other financial costs	1		—	—		1
Interest expense (net of amounts capitalized)	55		—	—		55
Other financial costs	12		—	—		12
Income before income taxes	(41	)	23	—		(18	)
(Benefit) provision for income taxes	(4	)	—	—		(4	)
Net income	(37	)	23	—		(14	)
Less: Net income attributable to Predecessor	23		23	—		46
Net income attributable to MPLX LP	(60	)	—	—		(60	)
Less: General partner's interest in net income attributable to MPLX LP	39		—	—		39
Limited partners' interest in net income (loss) attributable to MPLX LP	(99	)	—	—		(99	)

	Three months ended June 30, 2016
	MPLX Historical		HST/WHC	MPLXT	Adjustments for contribution to MPC		Total MPLX
Revenues and other income:
Service revenue	233		—	—	—		233
Service revenue - related parties	145		27	74	—		246
Rental income	71		—	—	—		71
Rental income - related parties	29		11	26	—		66
Product sales	137		—	—	—		137
Product sales - related parties	3		—	—	—		3
Income (loss) from equity method investments	(83	)	—	—	—		(83	)
Other income	1		—	—	—		1
Other income - related parties	28		—	—	(4	)	24
Total revenues and other income	564		38	100	(4	)	698
Costs and expenses:
Cost of revenues (excludes items below)	84		9	20	—		113
Purchased product costs	114		—	—	—		114
Rental cost of sales	14		1	—	—		15
Rental cost of sales - related parties	—		1	—	—		1
Purchases - related parties	78		4	21	(4	)	99
Depreciation and amortization	137		4	10	—		151
Impairment expense	1		—	—	—		1
General and administrative expenses	49		2	12	—		63
Other taxes	11		1	1	—		13
Total costs and expenses	488		22	64	(4	)	570
Income from operations	76		16	36	—		128
Interest expense (net of amounts capitalized)	52		—	—	—		52
Other financial costs	12		—	—	—		12
Income before income taxes	12		16	36	—		64
(Benefit) provision for income taxes	(8	)	—	—	—		(8	)
Net income	20		16	36	—		72
Less: Net income attributable to noncontrolling interests	1		—	—	—		1
Less: Net income attributable to Predecessor	—		16	36	—		52
Net income attributable to MPLX LP	19		—	—	—		19
Less: Preferred unit distributions	9		—	—	—		9
Less: General partner's interest in net income attributable to MPLX LP	46		—	—	—		46
Limited partners' interest in net income (loss) attributable to MPLX LP	(36	)	—	—	—		(36	)

	Three months ended September 30, 2016
	MPLX Historical	HST/WHC	MPLXT	Adjustments for contribution to MPC		Total MPLX
Revenues and other income:
Service revenue	250	—	—	—		250
Service revenue - related parties	153	28	72	—		253
Rental income	77	—	—	—		77
Rental income - related parties	29	13	26	—		68
Product sales	157	—	—	—		157
Product sales - related parties	2	—	—	—		2
Gain on sale of assets	1	—	—	—		1
Income (loss) from equity method investments	6	—	—	—		6
Other income	2	—	—	—		2
Other income - related parties	26	—	—	(4	)	22
Total revenues and other income	703	41	98	(4	)	838
Costs and expenses:
Cost of revenues (excludes items below)	90	10	22	—		122
Purchased product costs	117	—	—	—		117
Rental cost of sales	11	2	—	—		13
Rental cost of sales - related parties	—	1	—	(1	)	—
Purchases - related parties	84	4	24	(3	)	109
Depreciation and amortization	138	4	9	—		151
General and administrative expenses	46	2	8	—		56
Other taxes	10	—	2	—		12
Total costs and expenses	496	23	65	(4	)	580
Income from operations	207	18	33	—		258
Interest expense (net of amounts capitalized)	51	—	—	—		51
Other financial costs	13	—	—	—		13
Income before income taxes	143	18	33	—		194
Net income	143	18	33	—		194
Less: Net income attributable to noncontrolling interests	2	—	—	—		2
Less: Net income attributable to Predecessor	—	18	33	—		51
Net income attributable to MPLX LP	141	—	—	—		141
Less: Preferred unit distributions	16	—	—	—		16
Less: General partner's interest in net income attributable to MPLX LP	51	—	—	—		51
Limited partners' interest in net income (loss) attributable to MPLX LP	74	—	—	—		74

	Three months ended December 31, 2016
	MPLX Historical		HST/WHC		MPLXT	Adjustments for contribution to MPC		Total MPLX
Revenues and other income:
Service revenue	246		—		—	—		246
Service revenue - related parties	155		31		74	—		260
Rental income	80		—		—	—		80
Rental income - related parties	30		8		25	—		63
Product sales	178		—		—	—		178
Product sales - related parties	3		—		—	—		3
Income (loss) from equity method investments	(2	)	—		—	—		(2	)
Other income	1		—		—	—		1
Other income - related parties	23		—		—	(4	)	19
Total revenues and other income	714		39		99	(4	)	848
Costs and expenses:
Cost of revenues (excludes items below)	91		13		21	—		125
Purchased product costs	138		—		—	—		138
Rental cost of sales	14		1		—	—		15
Purchases - related parties	78		6		22	(4	)	102
Depreciation and amortization	139		3		11	—		153
General and administrative expenses	46		1		8	—		55
Other taxes	11		1		1	—		13
Total costs and expenses	517		25		63	(4	)	601
Income from operations	197		14		36	—		247
Related party interest and other financial costs	—		(1	)	1	—		—
Interest expense (net of amounts capitalized)	52		—		—	—		52
Other financial costs	13		—		—	—		13
Income before income taxes	132		15		35	—		182
Net income	132		15		35	—		182
Less: Net income attributable to noncontrolling interests	(1	)	—		—	—		(1	)
Less: Net income attributable to Predecessor	—		15		35	—		50
Net income attributable to MPLX LP	133		—		—	—		133
Less: Preferred unit distributions	16		—		—	—		16
Less: General partner's interest in net income attributable to MPLX LP	55		—		—	—		55
Limited partners' interest in net income (loss) attributable to MPLX LP	62		—		—	—		62