Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Jul. 31, 2019 | |
Document Information [Line Items] | ||
Document Transition Report | false | |
Document Quarterly Report | true | |
Title of 12(b) Security | Common Units Representing Limited Partnership Interests | |
Entity Incorporation, State or Country Code | DE | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Amendment Flag | false | |
Entity File Number | 001-35714 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | MPLX | |
Entity Registrant Name | MPLX LP | |
Entity Central Index Key | 0001552000 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Common Stock, Shares Outstanding | 1,057,188,255 | |
Entity Address, Address Line One | 200 E. Hardin Street, | |
Entity Address, City or Town | Findlay, | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 45840 | |
City Area Code | 419 | |
Local Phone Number | 421-2414 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Security Exchange Name | NYSE | |
Entity Tax Identification Number | 27-0005456 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||||||
Revenues and other income: | |||||||||
Total revenues from contracts with customers | $ 1,276 | $ 1,231 | $ 2,539 | $ 2,338 | |||||
Rental income | 90 | 84 | 184 | 163 | |||||
Rental income - related parties | 158 | 190 | 351 | 335 | |||||
Income from equity method investments | 73 | 50 | 143 | [1] | 111 | [1] | |||
Other income | 5 | 1 | 5 | 5 | |||||
Other income - related parties | 27 | 24 | 53 | 47 | |||||
Total revenues and other income | 1,629 | 1,578 | 3,275 | 2,998 | |||||
Costs and expenses: | |||||||||
Rental cost of sales | 28 | 33 | 65 | 62 | |||||
Rental cost of sales - related parties | 2 | 0 | 5 | 1 | |||||
Purchases - related parties | 239 | 223 | 451 | 400 | |||||
Depreciation and amortization | [2] | 214 | 188 | 425 | 364 | ||||
General and administrative expenses | 69 | 72 | 151 | 141 | |||||
Other taxes | 19 | 17 | 38 | 35 | |||||
Total costs and expenses | 970 | 970 | 1,938 | 1,833 | |||||
Income from operations | 659 | 608 | 1,337 | 1,165 | |||||
Related party interest and other financial costs | 1 | 1 | 2 | 2 | |||||
Interest expense (net of amounts capitalized of $9 million, $9 million, $16 million and $18 million, respectively) | 156 | 135 | 312 | 247 | |||||
Other financial costs | 13 | 15 | 27 | 32 | |||||
Income before income taxes | 489 | 457 | 996 | 884 | |||||
(Benefit)/provision for income taxes | 1 | 1 | (1) | 5 | |||||
Net income | 488 | 456 | 997 | 879 | |||||
Less: Net income (loss) attributable to noncontrolling interest | 6 | 3 | 12 | 5 | |||||
Net income (loss) attributable to MPLX LP | 482 | [3] | 453 | [3] | 985 | 874 | [3] | ||
Less: Series A preferred unit distributions | 21 | 20 | 41 | 36 | |||||
Limited partners' interest in net income (loss) attributable to MPLX LP | $ 461 | $ 433 | 944 | $ 838 | |||||
Weighted average limited partner units outstanding: | |||||||||
Common - basic (in shares) | 825 | [4] | 825 | 759 | |||||
Common - diluted (in shares) | 826 | [4] | 825 | 759 | |||||
Limited Partners Common Units | |||||||||
Costs and expenses: | |||||||||
Net income (loss) attributable to MPLX LP | [3] | $ 440 | $ 433 | $ 923 | $ 838 | ||||
Net income (loss) attributable to MPLX LP per limited partner unit: | |||||||||
Common - basic (in USD per unit) | $ 0.56 | $ 0.55 | $ 1.16 | $ 1.15 | |||||
Common - diluted (in USD per unit) | $ 0.55 | $ 0.55 | $ 1.16 | $ 1.15 | |||||
Weighted average limited partner units outstanding: | |||||||||
Common - basic (in shares) | 794 | [4] | 794 | 794 | [5] | 728 | |||
Common - diluted (in shares) | 795 | [4] | 794 | 795 | [5] | 728 | |||
Service [Member] | |||||||||
Revenues and other income: | |||||||||
Total revenues from contracts with customers | $ 448 | $ 410 | $ 886 | $ 792 | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 620 | 549 | 1,198 | 1,020 | |||||
Service, Other [Member] | |||||||||
Revenues and other income: | |||||||||
Total revenues from contracts with customers | 26 | 51 | 60 | 95 | |||||
Product [Member] | |||||||||
Revenues and other income: | |||||||||
Total revenues from contracts with customers | 168 | 206 | 370 | 413 | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 14 | 13 | 25 | 17 | |||||
Oil and Gas, Refining and Marketing [Member] | |||||||||
Costs and expenses: | |||||||||
Cost of Goods and Services Sold | 233 | 233 | 443 | 439 | |||||
Natural Gas, Midstream [Member] | |||||||||
Costs and expenses: | |||||||||
Cost of Goods and Services Sold | $ 166 | $ 204 | $ 360 | $ 391 | |||||
[1] | “ Income from equity method investments ” includes the impact of any basis differential amortization or accretion. | ||||||||
[2] | Depreciation and amortization attributable to L&S was $70 million and $140 million for the three and six months ended June 30, 2019 , respectively, and $61 million and $109 million for the three and six months ended June 30, 2018 , respectively. Depreciation and amortization attributable to G&P was $144 million and $285 million for the three and six months ended June 30, 2019 , respectively, and $127 million and $255 million for the three and six months ended June 30, 2018 | ||||||||
[3] | Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities. | ||||||||
[4] | The Series B preferred units and the MPLX common units issued in connection with the merger were not outstanding during the three months ended June 30, 2019. See Notes 3 and 7 for additional information about the treatment of these units. | ||||||||
[5] | The Series B preferred units and the MPLX common units issued in connection with the merger were not outstanding during the six months ended June 30, 2019. See Notes 3 and 7 for additional information about the treatment of these units. |
Consolidated Statements of In_2
Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Income Statement [Abstract] | ||||
Interest Costs Capitalized | $ 9 | $ 9 | $ 16 | $ 18 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 488 | $ 456 | $ 997 | $ 879 |
Other comprehensive income/(loss), net of tax: | ||||
Remeasurements of pension and other postretirement benefits related to equity method investments, net of tax | 0 | 0 | 1 | (2) |
Comprehensive income | 488 | 456 | 998 | 877 |
Less comprehensive income attributable to: | ||||
Noncontrolling interests | 6 | 3 | 12 | 5 |
Comprehensive income attributable to MPLX LP | $ 482 | $ 453 | $ 986 | $ 872 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Current assets: | |||
Cash and cash equivalents | $ 7 | $ 68 | |
Receivables, net | 335 | 417 | |
Current Assets, Related Parties | 333 | 290 | |
Inventories | 77 | 77 | |
Other current assets | 34 | 45 | |
Total current assets | 786 | 897 | |
Equity method investments | 4,409 | 4,174 | |
Property, plant and equipment, net | 15,021 | 14,639 | |
Intangibles, net | 405 | 424 | |
Goodwill | 2,581 | 2,586 | |
Operating Lease, Right-of-Use Asset | 255 | 0 | |
Other Assets, Related Parties, Noncurrent | 253 | 24 | |
Other noncurrent assets | 36 | 35 | |
Total assets | 23,746 | 22,779 | |
Current liabilities: | |||
Accounts payable | 134 | 162 | |
Accrued Liabilities, Current | 148 | 250 | |
Current Liabilities, Related Parties | 224 | 254 | |
Accrued Property Plant and Equipment Current | 227 | 294 | |
Accrued interest payable | 173 | 143 | |
Operating Lease, Liability, Current | 47 | 0 | |
Other current liabilities | 95 | 83 | |
Total current liabilities | 1,048 | 1,186 | |
Long-term deferred revenue | 108 | 80 | |
Liabilities, Related Parties, Noncurrent | 271 | 43 | |
Long-term debt | 14,030 | 13,392 | |
Deferred income taxes | 11 | 13 | |
Operating Lease, Liability, Noncurrent | 209 | 0 | |
Deferred credits and other liabilities | 195 | 197 | |
Total liabilities | 15,872 | 14,911 | |
Commitments and contingencies (see Note 20) | |||
Series A preferred units | 1,005 | 1,004 | |
Equity | |||
Total MPLX LP partners’ capital | 6,619 | 6,708 | |
Accumulated other comprehensive loss | [1] | (15) | (16) |
Noncontrolling interests | 250 | 156 | |
Total equity | 6,869 | 6,864 | |
Total liabilities, preferred units and equity | 23,746 | 22,779 | |
MPC | |||
Current assets: | |||
Operating Lease, Right-of-Use Asset | 232 | 0 | |
Current liabilities: | |||
Operating Lease, Liability, Current | 1 | 0 | |
Operating Lease, Liability, Noncurrent | 231 | 0 | |
Limited Partners Common Units | Public | |||
Equity | |||
Total MPLX LP partners’ capital | 8,305 | 8,336 | |
Total equity | 8,305 | 8,336 | |
Limited Partners Common Units | MPC | |||
Equity | |||
Total MPLX LP partners’ capital | (1,671) | (1,612) | |
Total equity | (1,671) | (1,612) | |
LOOP and Explorer | |||
Equity | |||
Accumulated other comprehensive loss | $ (15) | $ (16) | |
[1] | These components of “Accumulated other comprehensive loss” are included in the computation of net periodic benefit cost by LOOP and Explorer and are therefore included on the Consolidated Statements of Income under the caption “Income/(loss) from equity method investments.” |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - Limited Partners Common Units - shares shares in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Public | ||
Units issued | 290 | 289 |
Units outstanding | 290 | 289 |
MPC | ||
Units issued | 505 | 505 |
Units outstanding | 505 | 505 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | ||
Operating activities: | |||
Net income | $ 997 | $ 879 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Amortization of deferred financing costs | 26 | 30 | |
Depreciation and amortization | [1] | 425 | 364 |
Deferred income taxes | (2) | 5 | |
Asset retirement expenditures | (1) | (5) | |
Gain on disposal of assets | (4) | 0 | |
Income from equity method investments | [2] | (143) | (111) |
Distributions from unconsolidated affiliates | 220 | 175 | |
Changes in: | |||
Current receivables | 82 | (71) | |
Inventories | 1 | (5) | |
Fair value of derivatives | 7 | 0 | |
Current accounts payable and accrued liabilities | (76) | 119 | |
Current assets/current liabilities - related parties | (108) | (92) | |
Increase (Decrease) in Other Operating Assets and Liabilities, Net | 3 | 0 | |
Deferred revenue | 29 | 16 | |
All other, net | (4) | (14) | |
Net cash provided by operating activities | 1,452 | 1,290 | |
Investing activities: | |||
Additions to property, plant and equipment | (884) | (862) | |
Acquisitions, net of cash acquired | 6 | 0 | |
Disposal of assets | 8 | 4 | |
Investments in unconsolidated affiliates | (310) | (112) | |
Distributions from unconsolidated affiliates - return of capital | 2 | 15 | |
All other, net | 3 | 1 | |
Net cash used in investing activities | (1,175) | (954) | |
Financing activities: | |||
Long-term debt - borrowings | 2,275 | 9,610 | |
Long-term debt - repayments | (1,661) | (4,655) | |
Related party debt - borrowings | 3,066 | 1,160 | |
Related party debt - repayments | (3,022) | (1,433) | |
Debt issuance costs | 0 | (53) | |
Distributions to MPC for acquisitions | 0 | (4,111) | |
Distributions to noncontrolling interests | (12) | (6) | |
Distributions to Series A preferred unitholders | (40) | (33) | |
Distributions to unitholders and general partner | (1,038) | (814) | |
Contributions from noncontrolling interests | 94 | 5 | |
All other, net | (8) | (6) | |
Net cash used in financing activities | (346) | (336) | |
Net (decrease)/increase in cash, cash equivalents and restricted cash | (69) | 0 | |
Cash, cash equivalents and restricted cash at beginning of period | 76 | 9 | |
Cash, cash equivalents and restricted cash at end of period | $ 7 | $ 9 | |
[1] | Depreciation and amortization attributable to L&S was $70 million and $140 million for the three and six months ended June 30, 2019 , respectively, and $61 million and $109 million for the three and six months ended June 30, 2018 , respectively. Depreciation and amortization attributable to G&P was $144 million and $285 million for the three and six months ended June 30, 2019 , respectively, and $127 million and $255 million for the three and six months ended June 30, 2018 | ||
[2] | “ Income from equity method investments ” includes the impact of any basis differential amortization or accretion. |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) $ in Millions | Total | PublicLimited Partners Common Units | MPCLimited Partners Common Units | MPCGeneral Partner | Accumulated Other Comprehensive Loss | Noncontrolling Interests | Equity of PredecessorMPC |
Beginning Balance at Dec. 31, 2017 | $ 9,973 | $ 8,379 | $ 2,099 | $ (637) | $ (14) | $ 146 | $ 0 |
Distributions to: | (407) | 180 | 225 | (2) | |||
Contributions from: | 1,046 | 1,046 | |||||
Allocation of MPC's net investment at acquisition | 0 | 5,172 | (4,126) | (1,046) | |||
MPC for acquisition | (4,100) | (936) | (3,164) | ||||
Unitholders and general partner | (347) | (176) | (171) | ||||
Noncontrolling interests | (3) | (3) | |||||
Contributions from noncontrolling interests | (1) | (1) | |||||
Partners' Capital Account, Exchanges and Conversions | 0 | (7,926) | 7,926 | ||||
Other | 1 | 2 | 0 | 1 | (2) | ||
Ending Balance at Mar. 31, 2018 | 6,978 | 8,385 | (1,537) | 0 | (16) | 146 | 0 |
Beginning Balance at Dec. 31, 2017 | 9,973 | 8,379 | 2,099 | (637) | (14) | 146 | 0 |
Contributions from noncontrolling interests | (5) | ||||||
Ending Balance at Jun. 30, 2018 | 6,952 | 8,366 | (1,548) | 0 | (16) | 150 | 0 |
Beginning Balance at Mar. 31, 2018 | 6,978 | 8,385 | (1,537) | 0 | (16) | 146 | 0 |
Distributions to: | (436) | 157 | 276 | (3) | |||
Unitholders and general partner | (467) | (179) | (288) | ||||
Noncontrolling interests | (3) | (3) | |||||
Contributions from noncontrolling interests | (4) | (4) | |||||
Other | 4 | 3 | 1 | 0 | 0 | ||
Ending Balance at Jun. 30, 2018 | 6,952 | 8,366 | (1,548) | $ 0 | (16) | 150 | $ 0 |
Beginning Balance at Dec. 31, 2018 | 6,864 | 8,336 | (1,612) | (16) | 156 | ||
Distributions to: | (489) | 176 | 307 | (6) | |||
Unitholders and general partner | (515) | (188) | (327) | ||||
Noncontrolling interests | (6) | 0 | 0 | 0 | (6) | ||
Contributions from noncontrolling interests | (94) | 0 | 0 | 0 | (94) | ||
Other | 3 | 2 | 0 | 1 | |||
Ending Balance at Mar. 31, 2019 | 6,929 | 8,326 | (1,632) | (15) | 250 | ||
Beginning Balance at Dec. 31, 2018 | 6,864 | 8,336 | (1,612) | (16) | 156 | ||
Contributions from noncontrolling interests | (94) | ||||||
Ending Balance at Jun. 30, 2019 | 6,869 | 8,305 | (1,671) | (15) | 250 | ||
Beginning Balance at Mar. 31, 2019 | 6,929 | 8,326 | (1,632) | (15) | 250 | ||
Distributions to: | (467) | 168 | 293 | (6) | |||
Unitholders and general partner | (523) | (191) | (332) | 0 | |||
Other | 2 | 2 | 0 | 0 | 0 | ||
Ending Balance at Jun. 30, 2019 | $ 6,869 | $ 8,305 | $ (1,671) | $ (15) | $ 250 |
Description of the Business and
Description of the Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Business Description and Basis of Presentation [Text Block] | Description of the Business and Basis of Presentation Description of the Business – MPLX LP is a diversified, large-cap master limited partnership formed by Marathon Petroleum Corporation that owns and operates midstream energy infrastructure and logistics assets, and provides fuels distribution services. References in this report to “MPLX LP,” “MPLX,” “the Partnership,” “we,” “ours,” “us,” or like terms refer to MPLX LP and its subsidiaries. References to “MPC” refer collectively to Marathon Petroleum Corporation as our sponsor and its subsidiaries, other than the Partnership. We are engaged in the transportation, storage and distribution of crude oil and refined petroleum products; the gathering, processing and transportation of natural gas; and the gathering, transportation, fractionation, storage and marketing of NGLs. MPLX’s principal executive office is located in Findlay, Ohio. MPLX’s business consists of two segments based on the nature of services it offers: Logistics and Storage (“L&S”), which relates primarily to crude oil and refined petroleum products; and Gathering and Processing (“G&P”), which relates primarily to natural gas and NGLs. See Note 9 for additional information regarding the operations and results of these segments. On July 30, 2019, MPLX completed its acquisition by merger (the “Merger”) of Andeavor Logistics LP (“ANDX”). At the effective time of the Merger, each common unit held by ANDX’s public unitholders was converted into the right to receive 1.135 MPLX common units. ANDX common units held by certain affiliates of MPC were converted into the right to receive 1.0328 MPLX common units. See Note 3 for additional information regarding the Merger. Basis of Presentation – The accompanying interim consolidated financial statements are unaudited; however, in the opinion of MPLX’s management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal, recurring nature unless otherwise disclosed. These interim consolidated financial statements, including the notes, have been prepared in accordance with the rules and regulations of the SEC applicable to interim period financial statements and do not include all of the information and disclosures required by GAAP for complete financial statements. Certain amounts in prior years have been reclassified to conform to current year presentation. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2018 . The results of operations for the three and six months ended June 30, 2019 are not necessarily indicative of the results to be expected for the full year. MPLX’s consolidated financial statements include all majority-owned and controlled subsidiaries. For non-wholly-owned consolidated subsidiaries, the interests owned by third parties have been recorded as “Noncontrolling interests” on the accompanying Consolidated Balance Sheets. Intercompany investments, accounts and transactions have been eliminated. MPLX’s investments in which MPLX exercises significant influence but does not control and does not have a controlling financial interest are accounted for using the equity method. MPLX’s investments in a VIE in which MPLX exercises significant influence but does not control and is not the primary beneficiary are also accounted for using the equity method. In preparing the Consolidated Statements of Equity, net income attributable to MPLX LP is allocated to Series A preferred unitholders based on a fixed distribution schedule. Distributions, although earned, are not accrued until declared. The allocation of net income attributable to MPLX LP for purposes of calculating net income per limited partner unit is described in Note 6 . |
Accounting Standards
Accounting Standards | 6 Months Ended |
Jun. 30, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Accounting Standards | Recently Adopted ASU 2016-02, Leases We adopted ASU No. 2016-02, Leases (Topic 842), as of January 1, 2019, electing the transition method which permits entities to adopt the provisions of the standard using the modified retrospective approach without adjusting comparative periods. We also elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed us to grandfather the historical accounting conclusions until a reassessment event is present. We have also elected the practical expedient to not recognize short-term leases on the balance sheet, the practical expedient related to right of way permits and land easements which allows us to carry forward our accounting treatment for those existing agreements, and the practical expedient to combine lease and non-lease components for the majority of our underlying classes of assets except for our third-party contractor service and equipment agreements and boat and barge equipment agreements in which we are the lessee. We did not elect the practical expedient to combine lease and non-lease components for arrangements in which we are the lessor. In instances where the practical expedient was not elected, lease and non-lease consideration is allocated based on relative standalone selling price. Right of use (“ROU”) assets represent our right to use an underlying asset in which we obtain substantially all of the economic benefits and the right to direct the use of the asset during the lease term. Lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. We recognize ROU assets and lease liabilities on the balance sheet for leases with a lease term of greater than one year. Payments that are not fixed at the commencement of the lease are considered variable and are excluded from the ROU asset and lease liability calculations. In the measurement of our ROU assets and lease liabilities, the fixed lease payments in the agreement are discounted using a secured incremental borrowing rate for a term similar to the duration of the lease, as our leases do not provide implicit rates. Operating lease expense is recognized on a straight-line basis over the lease term. Adoption of the new standard resulted in the recording of ROU assets and lease liabilities of approximately $505 million and $502 million , respectively, as of January 1, 2019. The standard did not materially impact our consolidated statements of income, cash flows or equity as a result of adoption. As a lessor under ASC 842, MPLX may be required to re-classify existing operating leases to sales-type leases upon modification and related reassessment of the leases. If such a modification were to occur, it may result in the de-recognition of existing assets and recognition of a receivable in the amount of the present value of fixed payments expected to be received by MPLX under the lease. MPLX will evaluate the impacts of lease reassessments as modifications occur. We also adopted the following standard during the first six months of 2019 , which did not have a material impact to our financial statements or financial statement disclosures: ASU Effective Date 2017-12 Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities January 1, 2019 |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Not Yet Adopted ASU 2017-04, Intangibles - Goodwill and Other - Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued an ASU which simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the new guidance, the recognition of an impairment charge is calculated based on the amount by which the carrying amount exceeds the reporting unit’s fair value, which could be different from the amount calculated under the current method using the implied fair value of the goodwill; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The guidance should be applied on a prospective basis, and is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. ASU 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments |
Acquisitions
Acquisitions | 6 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Acquisitions | Acquisitions Acquisition of Andeavor Logistics LP As previously disclosed, on May 7, 2019, ANDX, Tesoro Logistics GP, LLC, then the general partner of ANDX (“TLGP”), MPLX, MPLX GP LLC, the general partner of MPLX (“MPLX GP”), and MPLX MAX LLC, a wholly-owned subsidiary of MPLX (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) that provided for, among other things, the merger of Merger Sub with and into ANDX. On July 30, 2019, the Merger was completed, and ANDX survived the Merger as a wholly-owned subsidiary of MPLX. At the effective time of the Merger, each common unit held by ANDX’s public unitholders was converted into the right to receive 1.135 MPLX common units. ANDX common units held by certain affiliates of MPC were converted into the right to receive 1.0328 MPLX common units. The assets of ANDX consist of a network of owned and operated crude oil, refined product and natural gas pipelines; terminals with crude oil and refined products storage capacity; rail loading and offloading facilities; marine terminals including storage; bulk petroleum distribution facilities; a trucking fleet; and natural gas processing and fractionation complexes. The assets are located in the western and inland regions of the United States. MPC accounted for its October 1, 2018 acquisition of Andeavor (including acquiring control of ANDX), using the acquisition method of accounting which required Andeavor assets and liabilities to be recorded by MPC at the acquisition date fair value. As a result of MPC’s relationship with both MPLX and ANDX, the Merger will be treated as a common control transaction, which requires the recognition of assets and liabilities acquired using MPC’s historical basis as of October 1, 2018. The fair value of assets acquired and liabilities assumed shown below have been pushed down from MPC and are considered preliminary as MPC has not yet completed a final determination of the respective fair values related to its acquisition of Andeavor. The preliminary purchase consideration allocation may change based on additional information received. Adjustments to this allocation can be made through the end of MPC’s measurement period, which is not to exceed one year from the Andeavor acquisition date. Values shown below have not been incorporated into the results of MPLX as of June 30, 2019 as the Merger was not closed until July 30, 2019. (In millions) Cash and cash equivalents $ 83 Receivables, net 241 Inventories 21 Other current assets (1) 59 Equity method investments 731 Property, plant and equipment, net 6,709 Intangibles, net 960 Other noncurrent assets (2) 31 Total assets acquired 8,835 Accounts payable 198 Other current liabilities (3) 188 Long-term debt 4,916 Deferred credits and other long-term liabilities (4) 75 Total liabilities assumed 5,377 Net assets acquired excluding goodwill 3,458 Goodwill 7,428 Total purchase price $ 10,886 (1) Includes both related party and third party other current assets. (2) Includes both related party and third party other noncurrent assets as well as right of use assets associated with leases. (3) Includes accrued liabilities, operating lease liabilities, long term debt due within one year, as well as related party and third party other current liabilities. (4) Includes deferred revenue and deferred income taxes, as well as related party and third party other noncurrent liabilities. Details of our valuation methodology and significant inputs for fair value measurements are included by asset class below. The fair value measurements for equity method investments, property, plant and equipment, intangible assets and long-term debt are based on significant inputs that are not observable in the market and, therefore, represent Level 3 measurements. Goodwill The preliminary purchase consideration allocation resulted in the recognition of $7 billion in goodwill which will be split between the L&S and G&P segments once assigned to the relevant reporting units. Inventory The fair value of inventory was recorded at cost as of October 1, 2018 as these items are related to spare parts, materials and supplies and approximate fair value. Equity Method Investments The fair value of the equity method investments was determined based on applying income and market approaches. The income approach relied on the discounted cash flow method and the market approach relied on a market multiple approach considering historical and projected financial results. Discount rates for the discounted cash flow models were based on capital structures for similar market participants and included various risk premiums that account for risks associated with the specific investments. Property, Plant and Equipment The preliminary fair value of property, plant and equipment is $7 billion , which is based primarily on the cost approach. Key assumptions in the cost approach include determining the replacement cost by evaluating recent purchases of similar assets or published data, and adjusting replacement cost for economic and functional obsolescence, location, normal useful lives, and capacity (if applicable). Acquired Intangible Assets The preliminary fair value of the acquired identifiable intangible assets is $960 million , which represents the value of various customer contracts and relationships and other intangible assets. The preliminary fair value of customer contracts and relationships is $890 million , which was valued by applying the multi-period excess earnings method, which is an income approach. Key assumptions in the income approach include the underlying contract cash flow estimates, remaining contract term, probability of renewal, growth rates and discount rates. The intangible assets are all finite lived and will be amortized over 2 to 10 years. Debt The fair value of the ANDX unsecured notes was measured using a market approach, based upon the average of quotes for the acquired debt from major financial institutions and a third-party valuation service. Additionally, approximately $1.1 billion of borrowings under revolving credit agreements approximate fair value. Acquisition Costs We recognized $4 million in acquisition costs during the period which are reflected in general and administrative expenses. Pro Forma Financial Information The following unaudited pro forma information combines the historical operations of MPLX and ANDX, giving effect to the merger as if it had been consummated on January 1, 2018, the beginning of the earliest period presented. Three Months Ended Six Months Ended (In millions) 2019 2018 2019 2018 Total revenues and other income $ 2,224 $ 2,122 $ 4,461 $ 4,059 Net income attributable to MPLX LP $ 652 $ 600 $ 1,324 $ 1,161 The pro forma information includes adjustments to align accounting policies which include adjustments for capitalization of assets and treatment of turnaround and major maintenance costs. The pro forma information also includes adjustments related to: reversing transactions between MPLX and ANDX which previously would have been recorded as transactions between related parties; basis differences on equity method investments as a result of recognition of MPC’s investments in ANDX’s equity method investments; depreciation and amortization expense to reflect the increased fair value of property, plant and equipment and increased amortization expense related to identifiable intangible assets; as well as adjustments to interest expense for the amortization of fair value adjustments over the remaining term of ANDX’s outstanding debt, reversal of ANDX’s historical amortization of debt issuance costs and debt discounts and to adjust for the difference in the weighted average interest rate between MPLX’s revolving credit facility and the ANDX revolving credit facilities. Mt. Airy Terminal On September 26, 2018, MPLX acquired an eastern U.S. Gulf Coast export terminal (the “Mt. Airy Terminal”) from Pin Oak Holdings, LLC for total consideration of $451 million . At the time of the acquisition, the terminal included tanks with 4 million barrels of third-party leased storage capacity and a dock with 120 mbpd of capacity. The Mt. Airy Terminal is located on the Mississippi River between New Orleans and Baton Rouge, is in close proximity to several Gulf Coast refineries including MPC’s Garyville Refinery and is near numerous rail lines and pipelines. The Mt. Airy Terminal is accounted for within the L&S segment. In the first quarter of 2019, an adjustment to the initial purchase price was made for approximately $5 million related to the final settlement of the acquisition, which was paid in the first six months of 2019 as shown on the statement of cash flow. This reduced the total purchase price to $446 million and resulted in $336 million of property, plant and equipment, $121 million of goodwill and the remainder being attributable to net liabilities assumed. Goodwill represents the significant growth potential of the terminal due to the multiple pipelines and rail lines which cross the property, the terminal’s position as an aggregation point for liquids growth in the region for both ocean-going vessels and inland barges, the proximity of the terminal to MPC’s Garyville refinery and other refineries in the region as well as the opportunity to construct an additional dock at the site. Refining Logistics and Fuels Distribution Acquisition On February 1, 2018 , MPC and MPLX closed on an agreement for the dropdown of refining logistics assets and fuels distribution services to MPLX. MPC contributed these assets and services in exchange for $4.1 billion in cash and a fixed number of MPLX common units and general partner units of 111,611,111 and 2,277,778 , respectively. The fair value of the common and general partner units issued as of the acquisition date was $4.3 billion based on the closing common unit price as of February 1, 2018 , as recorded on the Consolidated Statements of Equity, for a total purchase price of $8.4 billion . The equity issued consisted of: (i) 85,610,278 common units to MPLX GP, (ii) 18,176,666 common units to MPLX Logistics Holdings LLC and (iii) 7,824,167 common units to MPLX Holdings Inc. MPLX also issued 2,277,778 general partner units to MPLX GP in order to maintain its two percent general partner interest (“GP Interest”) in MPLX. MPC agreed to waive approximately one-third of the first quarter 2018 distributions on the common units issued in connection with this transaction. As a result of this waiver, MPC did not receive $23.7 million of the distributions that would have otherwise accrued on such common units with respect to the first quarter of 2018. Immediately following this transaction, the GP Interest was converted into a non-economic general partner interest. MPLX recorded this transaction on a historical basis as required for transactions between entities under common control. No effect was given to the prior periods as these entities were not considered businesses prior to the February 1, 2018 dropdown. In connection with the dropdown, approximately $830 million of net property, plant and equipment was recorded in addition to $85 million and $130 million of goodwill allocated to MPLX Refining Logistics LLC (“Refining Logistics”) and MPLX Fuels Distribution LLC (“Fuels Distribution”), respectively. Both the refining logistics assets and the fuels distribution services are accounted for within the L&S segment. As of the transaction date, the Refining Logistics assets included 619 tanks with approximately 56 million barrels of storage capacity (crude, finished products and intermediates), 32 rail and truck racks, 18 docks, and gasoline blenders. These assets generate revenue through storage services agreements with MPC. Refining Logistics provides certain services to MPC related to the receipt, storage, throughput, custody and delivery of petroleum products in and through certain storage and logistical facilities and assets associated with MPC’s refineries. |
Equity Method Investments
Equity Method Investments | 6 Months Ended |
Jun. 30, 2019 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Investments and Noncontrolling Interests [Text Block] | Investments and Noncontrolling Interests The following table presents MPLX’s equity method investments at the dates indicated: Ownership as of Carrying value at June 30, June 30, December 31, (In millions, except ownership percentages) 2019 2019 2018 Explorer Pipeline Company 25% $ 83 $ 90 Illinois Extension Pipeline Company, L.L.C. 35% 278 275 LOCAP LLC 59% 27 27 LOOP LLC 41% 234 226 MarEn Bakken Company LLC 25% 487 498 Centrahoma Processing LLC 40% 155 160 MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C. 67% 269 236 MarkWest Utica EMG, L.L.C. 56% 2,026 2,039 Sherwood Midstream LLC 50% 491 366 Sherwood Midstream Holdings LLC 56% 162 157 Other 197 100 Total $ 4,409 $ 4,174 Summarized financial information for MPLX’s equity method investments for the six months ended June 30, 2019 and 2018 is as follows: Six Months Ended June 30, 2019 (In millions) VIEs Non-VIEs (2) Total Revenues and other income $ 282 $ 608 $ 890 Costs and expenses 146 236 382 Income from operations 136 372 508 Net income 117 339 456 Income from equity method investments (1) $ 48 $ 95 $ 143 Six Months Ended June 30, 2018 (In millions) VIEs Non-VIEs Total Revenues and other income $ 209 $ 589 $ 798 Costs and expenses 127 305 432 Income from operations 82 284 366 Net income 81 256 337 Income from equity method investments (1) $ 26 $ 85 $ 111 (1) “ Income from equity method investments ” includes the impact of any basis differential amortization or accretion. (2) Includes three months of activity related to Johnson County Terminal, we sold our investment in this joint venture on April 1, 2019. Summarized balance sheet information for MPLX’s equity method investments as of June 30, 2019 and December 31, 2018 is as follows: June 30, 2019 (In millions) VIEs Non-VIEs Total Current assets $ 200 $ 357 $ 557 Noncurrent assets 4,597 4,656 9,253 Current liabilities 163 225 388 Noncurrent liabilities $ 233 $ 845 $ 1,078 December 31, 2018 (In millions) VIEs Non-VIEs Total Current assets $ 235 $ 379 $ 614 Noncurrent assets 3,535 4,715 8,250 Current liabilities 155 246 401 Noncurrent liabilities $ 189 $ 841 $ 1,030 As of June 30, 2019 and December 31, 2018 , the carrying value of MPLX’s equity method investments exceeded the underlying net assets of its investees by approximately $1 billion for the G&P segment. As of June 30, 2019 and December 31, 2018 , the carrying value of MPLX’s equity method investments in the L&S segment exceeded the underlying net assets of its investees by $113 million and $114 million , respectively. This basis difference is being amortized into net income over the remaining estimated useful lives of the underlying assets, except for $459 million and $39 million of excess related to goodwill for the G&P and L&S segments, respectively. MarkWest Utica EMG MarkWest Utica EMG, L.L.C. (“MarkWest Utica EMG”) is deemed to be a VIE. Neither MPLX nor any of its subsidiaries is deemed to be the primary beneficiary due to EMG Utica, L.L.C.’s voting rights on significant matters. MPLX’s maximum exposure to loss as a result of its involvement with MarkWest Utica EMG includes its equity investment, any additional capital contribution commitments and any operating expenses incurred by the subsidiary operator in excess of its compensation received for the performance of the operating services. MarkWest Utica EMG holds an investment in its subsidiary, Ohio Gathering Company, L.L.C. (“Ohio Gathering”), which does not appear elsewhere in the tables above. The investment was $788 million and $750 million as of June 30, 2019 and December 31, 2018 , respectively. MPLX did not provide any financial support to MarkWest Utica EMG that it was not contractually obligated to provide during the six months ended June 30, 2019 . Ohio Gathering Ohio Gathering is a subsidiary of MarkWest Utica EMG and is engaged in providing natural gas gathering services in the Utica Shale in eastern Ohio. Ohio Gathering is a joint venture between MarkWest Utica EMG and Summit Midstream Partners, LLC. As of June 30, 2019 , MPLX has an approximate 34 percent indirect ownership interest in Ohio Gathering. As Ohio Gathering is a subsidiary of MarkWest Utica EMG, which is accounted for as an equity method investment, MPLX reports its portion of Ohio Gathering’s net assets as a component of its investment in MarkWest Utica EMG. Sherwood Midstream Sherwood Midstream LLC (“Sherwood Midstream”) is deemed to be a VIE. Neither MPLX nor any of its subsidiaries is deemed to be the primary beneficiary of Sherwood Midstream due to Antero Midstream Partners, LP’s voting rights on significant matters. MPLX’s maximum exposure to loss as a result of its involvement with Sherwood Midstream includes its equity investment, any additional capital contribution commitments and any operating expenses incurred by the subsidiary operator in excess of its compensation received for the performance of the operating services. MPLX did not provide any financial support to Sherwood Midstream that it was not contractually obligated to provide during the six months ended June 30, 2019 . Sherwood Midstream also has an investment in MarkWest Ohio Fractionation Company, L.L.C. (“Ohio Fractionation”), which is a VIE, that it accounts for as an equity method investment as Sherwood Midstream does not control Ohio Fractionation. During the three months ended March 31, 2019, Sherwood Midstream acquired the right to fractionation revenue and the obligation to pay expenses related to 20 mbpd of capacity in the Hopedale 4 fractionator; this transaction is shown as “Contributions from noncontrolling interests” on the Consolidated Statements of Cash Flows. MarkWest Liberty Midstream & Resources, L.L.C (“MarkWest Liberty Midstream”), a wholly-owned and consolidated subsidiary, has been deemed to be the primary beneficiary of Ohio Fractionation because it has control over the decisions that could significantly impact its financial performance, and as a result, consolidates Ohio Fractionation. The creditors of Ohio Fractionation do not have recourse to MPLX LP’s general credit through guarantees or other financial arrangements. The assets of Ohio Fractionation are the property of Ohio Fractionation and cannot be used to satisfy the obligations of MPLX LP. Sherwood Midstream’s interests are reflected in “Net income attributable to noncontrolling interests” on the Consolidated Statements of Income and “Noncontrolling interests” on the Consolidated Balance Sheets. Sherwood Midstream Holdings MPLX accounts for Sherwood Midstream Holdings LLC (“Sherwood Midstream Holdings”), which is a VIE, as an equity method investment as Sherwood Midstream is considered to be the general partner and controls all decisions. During the three months ended March 31, 2018, MarkWest Liberty Midstream sold to Sherwood Midstream six percent of its equity ownership in Sherwood Midstream Holdings for $15 million . MPLX’s maximum exposure to loss as a result of its involvement with Sherwood Midstream Holdings includes its equity investment, any additional capital contribution commitments and any operating expenses incurred by the subsidiary operator in excess of its compensation received for the performance of the operating services. MPLX did not provide any financial support to Sherwood Midstream Holdings that it was not contractually obligated to provide during the six months ended June 30, 2019 . Sherwood Midstream has been deemed the primary beneficiary of Sherwood Midstream Holdings due to its controlling financial interest through its authority to manage the joint venture. As a result, Sherwood Midstream consolidates Sherwood Midstream Holdings. Therefore, MPLX also reports its portion of Sherwood Midstream Holdings’ net assets as a component of its investment in Sherwood Midstream. As of June 30, 2019 , MPLX has a 22.2 percent indirect ownership interest in Sherwood Midstream Holdings through Sherwood Midstream. |
Related Party Agreements and Tr
Related Party Agreements and Transactions | 6 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Agreements and Transactions | Related Party Agreements and Transactions As of June 30, 2019 , MPLX’s material related parties are: • MPC, which refines, markets and transports crude oil and petroleum products. • MarkWest Utica EMG, in which MPLX LP has a 56 percent interest as of June 30, 2019 . MarkWest Utica EMG is engaged in natural gas processing and NGL fractionation, transportation and marketing in Ohio. • Ohio Gathering, in which MPLX LP has a 34 percent indirect interest as of June 30, 2019 . Ohio Gathering is a subsidiary of MarkWest Utica EMG providing natural gas gathering service in the Utica Shale region of eastern Ohio. • Sherwood Midstream, in which MPLX LP has a 50 percent interest as of June 30, 2019 . Sherwood Midstream supports the development of Antero Resources Corporation’s Marcellus Shale acreage in the rich-gas corridor of West Virginia. • Sherwood Midstream Holdings, in which MPLX LP has a 78 percent total direct and indirect interest as of June 30, 2019 . Sherwood Midstream Holdings owns certain infrastructure at the Sherwood Complex that is shared by and supports the operation of both the Sherwood Midstream and MarkWest gas processing plants and de-ethanization facilities. • MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C. (“Jefferson Dry Gas”), in which MPLX LP has a 67 percent interest as of June 30, 2019 . Jefferson Dry Gas provides natural dry gas gathering and related services in the Utica Shale region of Ohio. Related Party Agreements MPLX has various long-term, fee-based commercial agreements with MPC. Under these agreements, MPLX provides transportation, terminal, fuels distribution, marketing, storage, management, operational and other services to MPC. MPC has committed to provide MPLX with minimum throughput volumes on crude oil and refined products systems; fees for storage capacity; a fixed fee for substantially all available capacity for boats and barges under the marine transportation services agreement; operating and management fees; as well as reimbursements for certain direct and indirect costs. In addition, MPLX has obligations to MPC for services provided to MPLX by MPC under omnibus and employee services agreements as well as other various agreements. MPLX is also party to a loan agreement with MPC Investment LLC (“MPC Investment”) (the “MPC Loan Agreement”). Under the terms of the MPC Loan Agreement, MPC Investment makes a loan or loans to MPLX on a revolving basis as requested by MPLX and as agreed to by MPC Investment. On April 27, 2018, MPLX and MPC Investment entered into an amendment to the MPC Loan Agreement to increase the borrowing capacity under the MPC Loan Agreement from $500 million to $1 billion in aggregate principal amount of all loans outstanding at any one time. The entire unpaid principal amount of the loan, together with all accrued and unpaid interest and other amounts (if any), shall become due and payable on December 4, 2020 . MPC Investment may demand payment of all or any portion of the outstanding principal amount of the loan, together with all accrued and unpaid interest and other amounts (if any), at any time prior to December 4, 2020 . Borrowings under the loan will bear interest at LIBOR plus 1.50 percent . Activity on the MPC Loan Agreement was as follows: (In millions) Six Months Ended June 30, 2019 Year Ended December 31, 2018 Borrowings $ 3,066 $ 3,962 Average interest rate of borrowings 3.845 % 3.473 % Repayments $ 3,022 $ 4,347 Outstanding balance at end of period (1) $ 44 $ — (1) Included in “Current liabilities - related parties” on the Consolidated Balance Sheets. Related Party Revenue Related party sales to MPC consist of crude oil and refined products pipeline transportation services based on tariff rates; storage, terminal and fuels distribution services based on contracted rates; and marine transportation services. Related party sales to MPC also consist of revenue related to volume deficiency credits. MPLX also has operating agreements with MPC under which it receives a fee for operating MPC’s retained pipeline assets and a fixed annual fee for providing oversight and management services required to run the marine business. MPLX also receives management fee revenue for engineering, construction and administrative services for operating certain of its equity method investments. Revenue received from related parties included on the Consolidated Statements of Income was as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Service revenues - related parties MPC $ 620 $ 549 $ 1,198 $ 1,020 Rental income - related parties MPC 158 190 351 335 Product sales - related parties (1) MPC 14 13 25 17 Other income - related parties MPC 10 10 20 20 MarkWest Utica EMG 4 4 8 8 Ohio Gathering 5 4 9 8 Sherwood Midstream 3 2 7 5 Jefferson Dry Gas 1 2 3 3 Other 4 2 6 3 Total Other income - related parties $ 27 $ 24 $ 53 $ 47 (1) There were additional product sales to MPC that net to zero within the consolidated financial statements as the transactions are recorded net due to the terms of the agreements under which such product was sold. For the three and six months ended June 30, 2019 , these sales totaled $118 million and $204 million , respectively. For the three and six months ended June 30, 2018 , these sales totaled $112 million and $191 million , respectively. Related Party Expenses MPC provides executive management services and certain general and administrative services to MPLX under the terms of an omnibus agreement (“Omnibus charges”). Omnibus charges included in “Rental cost of sales - related parties” primarily relate to services that support MPLX’s rental operations and maintenance of assets available for rent. Omnibus charges included in “Purchases - related parties” primarily relate to services that support MPLX’s operations and maintenance activities, as well as compensation expenses. Omnibus charges included in “General and administrative expenses” primarily relate to services that support MPLX’s executive management, accounting and human resources activities. MPLX LP also obtains employee services from MPC under employee services agreements (“ESA charges”). ESA charges for personnel directly involved in or supporting operations and maintenance activities related to rental services are classified as “Rental cost of sales - related parties.” ESA charges for personnel directly involved in or supporting operations and maintenance activities related to other services are classified as “Purchases - related parties.” ESA charges for personnel involved in executive management, accounting and human resources activities are classified as “General and administrative expenses.” In addition to these agreements, MPLX purchases products from MPC, makes payments to MPC in its capacity as general contractor to MPLX, and has certain rent and lease agreements with MPC. Expenses incurred from MPC under the omnibus and employee services agreements as well as other purchases from MPC included on the Consolidated Statements of Income are as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Rental cost of sales - related parties $ 2 $ — $ 5 $ 1 Purchases - related parties 239 223 451 400 General and administrative expenses 43 44 93 83 Total $ 284 $ 267 $ 549 $ 484 Some charges incurred under the omnibus and ESA agreements are related to engineering services and are associated with assets under construction. These charges are added to “Property, plant and equipment, net” on the Consolidated Balance Sheets. For the three and six months ended June 30, 2019 , these charges totaled $38 million and $79 million , respectively. For the three and six months ended June 30, 2018 , these charges totaled $41 million and $63 million , respectively. Related Party Assets and Liabilities Assets and liabilities with related parties appearing on the Consolidated Balance Sheets are detailed in the table below. This table identifies the various components of related party assets and liabilities, including those associated with leases (see Note 19 for additional information) and deferred revenue on minimum volume commitments. During the six months ended June 30, 2019 and the year ended December 31, 2018 , MPC did not ship its minimum committed volumes on certain pipelines. Under MPLX’s pipeline transportation services agreements, if MPC fails to transport its minimum throughput volumes during any quarter, then MPC will pay MPLX a deficiency payment equal to the volume of the deficiency multiplied by the tariff rate then in effect. The deficiency amounts are recorded as “Current liabilities - related parties.” MPC may then apply the amount of any such deficiency payments as a credit for volumes transported on the applicable pipeline in excess of its minimum volume commitment in future periods under the terms of the applicable transportation services agreement. MPLX recognizes related party revenues for the deficiency payments when credits are used for volumes transported in excess of minimum quarterly volume commitments, where it is probable the customer will not use the credit in future periods or upon the expiration of the credits. The use or expiration of the credits is a decrease in “Current liabilities - related parties.” In addition, capital projects MPLX is undertaking at the request of MPC are reimbursed in cash and recognized in income over the remaining term of the applicable agreements. (In millions) June 30, 2019 December 31, 2018 Current assets - related parties Receivables - MPC $ 318 $ 281 Receivables - Other 10 8 Prepaid - MPC 5 1 Total 333 290 Noncurrent assets - related parties Long-term receivables - MPC 21 24 Right of use assets - MPC 232 — Total 253 24 Current liabilities - related parties Payables - MPC 157 131 Payables - MarkWest Utica EMG 10 51 Payables - Sherwood Midstream 17 16 Payables - Other — 5 Operating lease liabilities - MPC 1 — Deferred revenue - Minimum volume deficiencies - MPC 31 44 Deferred revenue - Project reimbursements - MPC 8 7 Total 224 254 Long-term liabilities - related parties Long-term operating lease liabilities - MPC 231 — Long-term deferred revenue - Project reimbursements - MPC 40 43 Total $ 271 $ 43 Other Related Party Transactions From time to time, MPLX may also sell to or purchase from related parties, assets and inventory at the lesser of average unit cost or net realizable value. Sales to related parties for the six months ended June 30, 2019 and 2018 were less than $1 million and $3 million , respectively. Purchases from related parties for the six months ended June 30, 2019 and 2018 were less than $1 million and $1 million , respectively. |
Net Income Per Limited Partner
Net Income Per Limited Partner Unit | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Net Income Per Limited Partner Unit | Net Income/(Loss) Per Limited Partner Unit Net income/(loss) per unit applicable to common units is computed by dividing net income/(loss) attributable to MPLX LP less income/(loss) allocated to participating securities by the weighted average number of common units outstanding. Additional MPLX common units and MPLX Series B preferred units were issued on July 30, 2019 as a result of the merger with ANDX as discussed in Note 3. Distributions declared on these newly-issued common and Series B preferred units are a reduction to income available to MPLX common unit holders due to their participation in distributions of second quarter income. The classes of participating securities include common units, certain equity-based compensation awards, Series A preferred units and Series B preferred units for the three and six months ended June 30, 2019 and common units, certain equity-based compensation awards and Series A preferred units for the three and six months ended June 30, 2018. For the three and six months ended June 30, 2019 and 2018 , MPLX had dilutive potential common units consisting of certain equity-based compensation awards. Potential common units omitted from the diluted earnings per unit calculation for the three and six months ended June 30, 2019 and 2018 were less than 1 million . Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Net income attributable to MPLX LP $ 482 $ 453 $ 985 $ 874 Less: Distributions declared on Series A preferred units (1) 21 20 41 36 Distributions declared on Series B preferred units (1) 21 — 21 — Limited partners’ distributions declared on MPLX common units (including common units of general partner) (1)(2) 692 497 1,215 964 Undistributed net loss attributable to MPLX LP $ (252 ) $ (64 ) $ (292 ) $ (126 ) (1) See Note 7 for distribution information. (2) The three and six months ended June 30, 2019 amounts are net of $12.5 million of waived distributions with respect to units held by MPC and its affiliates. Three Months Ended June 30, 2019 (In millions, except per unit data) Limited Partners’ Common Units Series A Preferred Units Series B Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit Net income attributable to MPLX LP: Distributions declared $ 692 $ 21 $ 21 $ 734 Undistributed net loss attributable to MPLX LP (252 ) — — (252 ) Net income attributable to MPLX LP (1) $ 440 $ 21 $ 21 $ 482 Weighted average units outstanding: Basic (2) 794 31 825 Diluted (2) 795 31 826 Net income attributable to MPLX LP per limited partner unit: Basic $ 0.56 Diluted $ 0.55 (1) Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities. (2) The Series B preferred units and the MPLX common units issued in connection with the merger were not outstanding during the three months ended June 30, 2019. See Notes 3 and 7 for additional information about the treatment of these units. Three Months Ended June 30, 2018 (In millions, except per unit data) Limited Partners’ Common Units Series A Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit Net income attributable to MPLX LP: Distributions declared $ 497 $ 20 $ 517 Undistributed net loss attributable to MPLX LP (64 ) — (64 ) Net income attributable to MPLX LP (1) $ 433 $ 20 $ 453 Weighted average units outstanding: Basic 794 31 825 Diluted 794 31 825 Net income attributable to MPLX LP per limited partner unit: Basic $ 0.55 Diluted $ 0.55 (1) Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities. Six Months Ended June 30, 2019 (In millions, except per unit data) Limited Partners’ Common Units Series A Preferred Units Series B Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit: Net income attributable to MPLX LP: Distributions declared $ 1,215 $ 41 $ 21 $ 1,277 Undistributed net loss attributable to MPLX LP (292 ) — — (292 ) Net income attributable to MPLX LP (1) $ 923 $ 41 $ 21 $ 985 Weighted average units outstanding: Basic (2) 794 31 825 Diluted (2) 795 31 826 Net income attributable to MPLX LP per limited partner unit: Basic $ 1.16 Diluted $ 1.16 (1) Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities. (2) The Series B preferred units and the MPLX common units issued in connection with the merger were not outstanding during the six months ended June 30, 2019. See Notes 3 and 7 for additional information about the treatment of these units. Six Months Ended June 30, 2018 (In millions, except per unit data) Limited Partners’ Common Units Series A Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit: Net income attributable to MPLX LP: Distributions declared $ 964 $ 36 $ 1,000 Undistributed net loss attributable to MPLX LP (126 ) — (126 ) Net income attributable to MPLX LP (1) $ 838 $ 36 $ 874 Weighted average units outstanding: Basic 728 31 759 Diluted 728 31 759 Net income attributable to MPLX LP per limited partner unit: Basic $ 1.15 Diluted $ 1.15 (1) Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities. |
Equity
Equity | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Equity | Equity The changes in the number of common units outstanding during the six months ended June 30, 2019 are summarized below: (In units) Common Balance at December 31, 2018 794,089,518 Unit-based compensation awards 260,101 Balance at June 30, 2019 794,349,619 Cash distributions – In accordance with the MPLX partnership agreement, on July 22, 2019 , MPLX declared a quarterly cash distribution, based on the results of the second quarter of 2019 , totaling $692 million , or $0.6675 per common unit, which includes common units issued on July 30, 2019 as a result of the Merger. This rate will also be received by Series A preferred unitholders. These distributions will be paid on August 14, 2019 to common unitholders of record on August 5, 2019 . Additionally, as a result of the Merger, 600,000 ANDX preferred units were converted into 600,000 preferred units of MPLX (the “Series B preferred units”). Series B preferred unitholders are entitled to receive, when and if declared by the board, a fixed distribution of $68.75 per unit, per annum, payable semi-annually in arrears on February 15 and August 15. Accordingly a cash distribution payment totaling $21 million will be paid to Series B unitholders on August 15, 2019. Quarterly distributions for 2019 and 2018 are summarized below: (Per common unit) 2019 2018 March 31, $ 0.6575 $ 0.6175 June 30, $ 0.6675 $ 0.6275 The allocation of total quarterly cash distributions to limited and preferred unitholders is as follows for the three and six months ended June 30, 2019 and 2018 . MPLX’s distributions are declared subsequent to quarter end; therefore, the following table represents total cash distributions applicable to the period in which the distributions were earned, except for the Series B preferred unit distributions which were earned throughout 2019, prior to the merger being completed. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Common and preferred unit distributions: Common unitholders, includes common units of general partner $ 692 $ 497 $ 1,215 $ 964 Series A preferred unit distributions 21 20 41 36 Series B preferred unit distributions 21 — 21 — Total cash distributions declared $ 734 $ 517 $ 1,277 $ 1,000 The distribution on common units for the three and six months ended June 30, 2019 includes the impact of the issuance of approximately 102 million units issued to public unitholders and approximately 161 million units issued to MPC in connection with MPLX's acquisition of ANDX on July 30, 2019. Had the transaction been completed subsequent to our distribution record date, distributions would have been $163 million lower for the three and six months ended June 30, 2019. This is net of $12.5 million of waived distributions with respect to units held by MPC and its affiliates. The $12.5 million quarterly distribution waiver will continue through 2019. Total distributions excluding the newly issued common units associated with the merger and the Series B preferred units were $550 million and $1,093 for the three and six months ended June 30, 2019. |
Redeemable Preferred Units
Redeemable Preferred Units | 6 Months Ended |
Jun. 30, 2019 | |
Temporary Equity Disclosure [Abstract] | |
Redeemable Preferred Units | Redeemable Series A Preferred Units Private Placement of Series A Preferred Units – On May 13, 2016, MPLX LP completed the private placement of approximately 30.8 million 6.5 percent Series A Convertible preferred units for a cash purchase price of $32.50 per unit. The aggregate net proceeds of approximately $984 million from the sale of the preferred units were used for capital expenditures, repayment of debt and general business purposes. The Series A preferred units rank senior to all common units and pari passu with all Series B preferred units with respect to distributions and rights upon liquidation. The holders of the Series A preferred units received cumulative quarterly distributions equal to $0.528125 per unit for each quarter prior to the second quarter of 2018. Beginning with the second quarter of 2018, the holders of the Series A preferred units are entitled to receive, when and if declared by the board, a quarterly distribution equal to the greater of $0.528125 per unit or the amount of distributions they would have received on an as converted basis. On July 22, 2019 , MPLX declared a quarterly cash distribution of $0.6675 per common unit representing the distribution of income earned during the second quarter of 2019 . The Series A preferred units will receive the common unit rate in lieu of the lower $0.528125 base amount. The changes in the redeemable preferred balance from December 31, 2018 through June 30, 2019 are summarized below: (In millions) Redeemable Preferred Units Balance at December 31, 2018 $ 1,004 Net income allocated 41 Distributions received by Series A preferred unitholders (40 ) Balance at June 30, 2019 $ 1,005 The holders may convert their Series A preferred units into common units at any time after the third anniversary of the issuance date or prior to liquidation, dissolution or winding up of the Partnership, in full or in part, subject to minimum conversion amounts and conditions. After the fourth anniversary of the issuance date, MPLX may convert the Series A preferred units into common units at any time, in whole or in part, subject to certain minimum conversion amounts and conditions, if the closing price of MPLX LP common units is greater than $48.75 for the 20-day trading period immediately preceding the conversion notice date. The conversion rate for the Series A preferred units shall be the quotient of (a) the sum of (i) $32.50, plus (ii) any unpaid cash distributions on the applicable preferred unit, divided by (b) $32.50, subject to adjustment for unit distributions, unit splits and similar transactions. The holders of the Series A preferred units are entitled to vote on an as-converted basis with the common unitholders and have certain other class voting rights with respect to any amendment to the MPLX partnership agreement that would adversely affect any rights, preferences or privileges of the preferred units. In addition, upon certain events involving a change of control, the holders of preferred units may elect, among other potential elections, to convert their Series A preferred units to common units at the then change of control conversion rate. The Series A preferred units are considered redeemable securities under GAAP due to the existence of redemption provisions upon a deemed liquidation event which is outside MPLX’s control. Therefore, they are presented as temporary equity in the mezzanine section of the Consolidated Balance Sheets. The Series A preferred units have been recorded at their issuance date fair value, net of issuance costs. Income allocations increase the carrying value and declared distributions decrease the carrying value of the Series A preferred units. As the Series A preferred units are not currently redeemable and not probable of becoming redeemable, adjustment to the initial carrying amount is not necessary and would only be required if it becomes probable that the Series A preferred units would become redeemable. |
Segment Information
Segment Information | 6 Months Ended |
Jun. 30, 2019 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | Segment Information MPLX’s chief operating decision maker is the chief executive officer (“CEO”) of its general partner. The CEO reviews MPLX’s discrete financial information, makes operating decisions, assesses financial performance and allocates resources on a type of service basis. MPLX has two reportable segments: L&S and G&P. Each of these segments is organized and managed based upon the nature of the products and services it offers. • L&S – transports, stores, distributes and markets crude oil and refined petroleum products. • G&P – gathers, processes and transports natural gas; and gathers, transports, fractionates, stores and markets NGLs. Our CEO evaluates the performance of our segments using Segment Adjusted EBITDA. Amounts included in net income and excluded from Segment Adjusted EBITDA include: (i) depreciation and amortization; (ii) provision/(benefit) for income taxes; (iii) amortization of deferred financing costs; (iv) extinguishment of debt; (v) non-cash equity-based compensation; (vi) impairment expense; (vii) net interest and other financial costs; (viii) income/(loss) from equity method investments; (ix) distributions and adjustments related to equity method investments; (x) unrealized derivative gains/(losses); (xi) acquisition costs; (xii) noncontrolling interest; and (xiii) other adjustments as deemed necessary. These items are either: (i) believed to be non-recurring in nature; (ii) not believed to be allocable or controlled by the segment; or (iii) are not tied to the operational performance of the segment. The tables below present information about revenues and other income, capital expenditures and total assets for our reportable segments: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 L&S Service revenue $ 653 $ 581 $ 1,265 $ 1,080 Rental income 164 190 363 335 Product related revenue 4 3 7 5 Income from equity method investments 47 36 88 80 Other income 17 12 28 24 Total segment revenues and other income (1) 885 822 1,751 1,524 Segment Adjusted EBITDA (2) 569 526 1,128 963 Maintenance capital expenditures 19 25 32 47 Growth capital expenditures 115 93 218 247 G&P Service revenue 415 378 819 732 Rental income 84 84 172 163 Product related revenue 204 267 448 520 Income from equity method investments 26 14 55 31 Other income 15 13 30 28 Total segment revenues and other income (1) 744 756 1,524 1,474 Segment Adjusted EBITDA (2) 351 341 722 664 Maintenance capital expenditures 15 8 21 11 Growth capital expenditures $ 268 $ 406 $ 529 $ 677 (1) Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $94 million and $176 million for the three and six months ended June 30, 2019 , respectively, and $71 million and $145 million for the three and six months ended June 30, 2018 , respectively. Third party revenues for the G&P segment were $716 million and $1,472 million for the three and six months ended June 30, 2019 , respectively, and $731 million and $1,434 million for the three and six months ended June 30, 2018 , respectively. (2) See below for the reconciliation from Segment Adjusted EBITDA to “Net income.” (In millions) June 30, 2019 December 31, 2018 Segment assets Cash and cash equivalents $ 7 $ 68 L&S (1) 7,083 6,566 G&P (1) 16,656 16,145 Total assets $ 23,746 $ 22,779 (1) Equity method investments included in L&S assets were $1.17 billion at June 30, 2019 and $1.12 billion at December 31, 2018 . Equity method investments included in G&P assets were $3.24 billion at June 30, 2019 and $3.05 billion at December 31, 2018 . The table below provides a reconciliation between “Net income” and Segment Adjusted EBITDA. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Reconciliation to Net income: L&S Segment Adjusted EBITDA $ 569 $ 526 $ 1,128 $ 963 G&P Segment Adjusted EBITDA 351 341 722 664 Total reportable segments 920 867 1,850 1,627 Depreciation and amortization (1) (214 ) (188 ) (425 ) (364 ) (Provision)/benefit for income taxes (1 ) (1 ) 1 (5 ) Amortization of deferred financing costs (13 ) (15 ) (26 ) (31 ) Non-cash equity-based compensation (3 ) (5 ) (9 ) (9 ) Net interest and other financial costs (157 ) (136 ) (315 ) (250 ) Income from equity method investments 73 50 143 111 Distributions/adjustments related to equity method investments (120 ) (112 ) (228 ) (202 ) Unrealized derivative losses (2) — (8 ) (4 ) (1 ) Acquisition costs (4 ) — (4 ) (3 ) Adjusted EBITDA attributable to noncontrolling interests 7 4 14 6 Net income $ 488 $ 456 $ 997 $ 879 (1) Depreciation and amortization attributable to L&S was $70 million and $140 million for the three and six months ended June 30, 2019 , respectively, and $61 million and $109 million for the three and six months ended June 30, 2018 , respectively. Depreciation and amortization attributable to G&P was $144 million and $285 million for the three and six months ended June 30, 2019 , respectively, and $127 million and $255 million for the three and six months ended June 30, 2018 , respectively. (2) MPLX makes a distinction between realized and unrealized gains and losses on derivatives. During the period when a derivative contract is outstanding, changes in the fair value of the derivative are recorded as an unrealized gain or loss. When a derivative contract matures or is settled, the previously recorded unrealized gain or loss is reversed and the realized gain or loss of the contract is recorded. |
Inventories
Inventories | 6 Months Ended |
Jun. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories Inventories consist of the following: (In millions) June 30, 2019 December 31, 2018 NGLs $ 5 $ 9 Line fill 7 9 Spare parts, materials and supplies 65 59 Total inventories $ 77 $ 77 |
Property, Plant and Equipment
Property, Plant and Equipment | 6 Months Ended |
Jun. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment with associated accumulated depreciation is shown below: (In millions) June 30, 2019 December 31, 2018 Natural gas gathering and NGL transportation pipelines and facilities $ 6,211 $ 5,926 Processing, fractionation and storage facilities 5,365 5,336 Pipelines and related assets 2,630 2,560 Barges and towing vessels 657 620 Terminals and related assets 1,185 1,178 Refinery related assets 949 938 Land, building, office equipment and other 1,005 957 Construction-in-progress 1,084 801 Total 19,086 18,316 Less accumulated depreciation 4,065 3,677 Property, plant and equipment, net $ 15,021 $ 14,639 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Fair Values – Recurring Fair value measurements and disclosures relate primarily to MPLX’s derivative positions as discussed in Note 13 . The following table presents the financial instruments carried at fair value on a recurring basis as of June 30, 2019 and December 31, 2018 by fair value hierarchy level. MPLX has elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty. June 30, 2019 December 31, 2018 (In millions) Assets Liabilities Assets Liabilities Significant unobservable inputs (Level 3) Embedded derivatives in commodity contracts $ — $ (65 ) $ — $ (61 ) Total carrying value on Consolidated Balance Sheets $ — $ (65 ) $ — $ (61 ) Level 3 instruments include all NGL transactions and embedded derivatives in commodity contracts. The embedded derivative liability relates to a natural gas purchase commitment embedded in a keep-whole processing agreement. The fair value calculation for these Level 3 instruments used significant unobservable inputs including: (1) NGL prices interpolated and extrapolated due to inactive markets ranging from $0.46 to $1.14 and (2) the probability of renewal of 92 percent for the first five-year term and 82 percent for the second five-year term of the gas purchase commitment and related keep-whole processing agreement. Increases or decreases in the fractionation spread result in an increase or decrease in the fair value of the embedded derivative liability, respectively. An increase in the probability of renewal would result in an increase in the fair value of the related embedded derivative liability. Beyond the embedded derivative discussed above, we had no outstanding commodity contracts as of June 30, 2019 or December 31, 2018 . Changes in Level 3 Fair Value Measurements The following table is a reconciliation of the net beginning and ending balances recorded for net assets and liabilities classified as Level 3 in the fair value hierarchy. Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 (In millions) Commodity Derivative Contracts (net) Embedded Derivatives in Commodity Contracts (net) Commodity Derivative Contracts (net) Embedded Derivatives in Commodity Contracts (net) Fair value at beginning of period $ — $ (65 ) $ (2 ) $ (58 ) Total losses (realized and unrealized) included in earnings (1) — (1 ) (1 ) (11 ) Settlements — 1 1 3 Fair value at end of period — (65 ) (2 ) (66 ) The amount of total losses for the period included in earnings attributable to the change in unrealized losses relating to liabilities still held at end of period $ — $ (2 ) $ (1 ) $ (10 ) (1) Gains and losses on commodity derivative contracts classified as Level 3 are recorded in “Product sales” on the Consolidated Statements of Income. Gains and losses on derivatives embedded in commodity contracts are recorded in “Purchased product costs” and “Cost of revenues” on the Consolidated Statements of Income. Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (In millions) Commodity Derivative Contracts (net) Embedded Derivatives in Commodity Contracts (net) Commodity Derivative Contracts (net) Embedded Derivatives in Commodity Contracts (net) Fair value at beginning of period $ — $ (61 ) $ (2 ) $ (64 ) Total losses (realized and unrealized) included in earnings (1) — (7 ) (1 ) (8 ) Settlements — 3 1 6 Fair value at end of period — (65 ) (2 ) (66 ) The amount of total losses for the period included in earnings attributable to the change in unrealized losses relating to liabilities still held at end of period $ — $ (5 ) $ — $ (5 ) (1) Gains and losses on commodity derivative contracts classified as Level 3 are recorded in “Product sales” on the Consolidated Statements of Income. Gains and losses on derivatives embedded in commodity contracts are recorded in “Purchased product costs” and “Cost of revenues” on the Consolidated Statements of Income. Fair Values – Reported MPLX’s primary financial instruments are cash and cash equivalents, receivables, receivables from related parties, accounts payable, payables to related parties and long-term debt. MPLX’s fair value assessment incorporates a variety of considerations, including (1) the duration of the instruments, (2) MPC’s investment-grade credit rating and (3) the historical incurrence of and expected future insignificance of bad debt expense, which includes an evaluation of counterparty credit risk. MPLX believes the carrying values of its current assets and liabilities approximate fair value. The recorded value of the amounts outstanding under the bank revolving credit facility, if any, approximates fair value due to the variable interest rate that approximates current market rates. Derivative instruments are recorded at fair value, based on available market information (see Note 13 ). The fair value of MPLX’s long-term debt is estimated based on recent market non-binding indicative quotes. The fair value of the SMR liability is estimated using a discounted cash flow approach based on the contractual cash flows and MPLX’s unsecured borrowing rate. The long-term debt and SMR liability fair values are considered Level 3 measurements. The following table summarizes the fair value and carrying value of the long-term debt, excluding finance leases, and SMR liability: June 30, 2019 December 31, 2018 (In millions) Fair Value Carrying Value Fair Value Carrying Value Long-term debt $ 15,282 $ 14,123 $ 13,169 $ 13,484 SMR liability $ 94 $ 83 $ 92 $ 86 |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Derivative Financial Instruments As of June 30, 2019 , MPLX had no outstanding commodity contracts beyond the embedded derivative discussed below. Embedded Derivative - MPLX has a natural gas purchase commitment embedded in a keep-whole processing agreement with a producer customer in the Southern Appalachian region expiring in December 2022. The customer has the unilateral option to extend the agreement for two consecutive five-year terms through December 2032. For accounting purposes, the natural gas purchase commitment and the term extending options have been aggregated into a single compound embedded derivative. The probability of the customer exercising its options is determined based on assumptions about the customer’s potential business strategy decision points that may exist at the time they would elect whether to renew the contract. The changes in fair value of this compound embedded derivative are based on the difference between the contractual and index pricing, the probability of the producer customer exercising its option to extend and the estimated favorability of these contracts compared to current market conditions. The changes in fair value are recorded in earnings through “Purchased product costs” on the Consolidated Statements of Income. As of June 30, 2019 and December 31, 2018 , the estimated fair value of this contract was a liability of $ 65 million and $ 61 million , respectively. Certain derivative positions are subject to master netting agreements, therefore, MPLX has elected to offset derivative assets and liabilities that are legally permissible to be offset. As of June 30, 2019 and December 31, 2018 , there were no derivative assets or liabilities that were offset on the Consolidated Balance Sheets. The impact of MPLX’s derivative instruments on its Consolidated Balance Sheets is summarized below: (In millions) June 30, 2019 December 31, 2018 Derivative contracts not designated as hedging instruments and their balance sheet location Asset Liability Asset Liability Commodity contracts (1) Other current assets / Other current liabilities $ — $ (7 ) $ — $ (7 ) Other noncurrent assets / Deferred credits and other liabilities — (58 ) — (54 ) Total $ — $ (65 ) $ — $ (61 ) (1) Includes embedded derivatives in commodity contracts as discussed above. For further information regarding the fair value measurement of derivative instruments, including the effect of master netting arrangements or collateral, see Note 12 . There were no material changes to MPLX’s policy regarding the accounting for Level 2 and Level 3 instruments as previously disclosed in MPLX’s Annual Report on Form 10-K for the year ended December 31, 2018 . MPLX does not designate any of its commodity derivative positions as hedges for accounting purposes. The impact of MPLX’s derivative contracts not designated as hedging instruments and the location of gains and losses recognized on the Consolidated Statements of Income is summarized below: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Product sales Realized (loss)/gain $ — $ (1 ) $ — $ (1 ) Unrealized (loss)/gain — — — 1 Product sales derivative (loss)/gain — (1 ) — — Purchased product costs Realized (loss)/gain (1 ) (3 ) (3 ) (6 ) Unrealized (loss)/gain — (8 ) (4 ) (2 ) Purchased product costs derivative (loss)/gain (1 ) (11 ) (7 ) (8 ) Cost of revenues Realized (loss)/gain — — — — Unrealized (loss)/gain — — — — Cost of revenues derivative (loss)/gain — — — — Total derivative (loss)/gain $ (1 ) $ (12 ) $ (7 ) $ (8 ) |
Debt
Debt | 6 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
Debt | Debt MPLX’s outstanding borrowings consist of the following: (In millions) June 30, 2019 December 31, 2018 MPLX LP: Bank revolving credit facility due 2022 $ 615 $ — 3.375% senior notes due March 2023 500 500 4.500% senior notes due July 2023 989 989 4.875% senior notes due December 2024 1,149 1,149 4.000% senior notes due February 2025 500 500 4.875% senior notes due June 2025 1,189 1,189 4.125% senior notes due March 2027 1,250 1,250 4.000% senior notes due March 2028 1,250 1,250 4.800% senior notes due February 2029 750 750 4.500% senior notes due April 2038 1,750 1,750 5.200% senior notes due March 2047 1,000 1,000 4.700% senior notes due April 2048 1,500 1,500 5.500% senior notes due February 2049 1,500 1,500 4.900% senior notes due April 2058 500 500 Consolidated subsidiaries: MarkWest - 4.500% - 4.875% senior notes, due 2023-2025 23 23 Financing lease obligations (1) 8 6 Total 14,473 13,856 Unamortized debt issuance costs (95 ) (97 ) Unamortized discount (342 ) (366 ) Amounts due within one year (6 ) (1 ) Total long-term debt due after one year $ 14,030 $ 13,392 (1) See Note 19 for lease information. Credit Agreement MPLX has a $2.25 billion five-year bank revolving credit facility that expires in July 2022 (the “MPLX Credit Agreement”). During the six months ended June 30, 2019 , MPLX borrowed $2,275 million under the MPLX Credit Agreement, at an average interest rate of 3.802 percent , and repaid $1,660 million . At June 30, 2019 , MPLX had $615 million outstanding borrowings and $3 million letters of credit outstanding under the facility, resulting in total availability of $1.632 billion , or 72.5 percent of the borrowing capacity . Senior Notes On December 10, 2018, MPLX redeemed all $750 million of its 5.5 percent senior notes due February 15, 2023, $40 million of which was issued by the MarkWest subsidiary. These notes were redeemed at 101.833 percent of the principal amount, which resulted in a payment of $14 million related to the note premium and the immediate recognition of $46 million of unamortized debt issuance costs. On November 15, 2018, MPLX issued $2.25 billion aggregate principal amount of senior notes in a public offering, consisting of $750 million aggregate principal amount of 4.8 percent unsecured senior notes due February 2029 and $1.5 billion aggregate principal amount of 5.5 percent unsecured senior notes due February 2049 (collectively, the “November 2018 New Senior Notes”). The November 2018 New Senior Notes were offered at a price to the public of 99.432 percent and 98.031 percent of par, respectively. The proceeds were used to repay outstanding borrowings under the MPLX Credit Agreement and the MPC Loan Agreement and to redeem all $750 million of its 5.5 percent senior notes due February 2023, as well as for general business purposes. Interest on each series of the November 2018 New Senior Notes is payable semi-annually in arrears, commencing on February 15, 2019. On February 8, 2018 , MPLX issued $5.5 billion aggregate principal amount of senior notes in a public offering, consisting of $500 million aggregate principal amount of 3.375 percent unsecured senior notes due March 2023 , $1.25 billion aggregate principal amount of 4.0 percent unsecured senior notes due March 2028 , $1.75 billion aggregate principal amount of 4.5 percent unsecured senior notes due April 2038 , $ 1.5 billion aggregate principal amount of 4.7 percent unsecured senior notes due April 2048 , and $500 million aggregate principal amount of 4.9 percent unsecured senior notes due April 2058 (collectively, the “February 2018 New Senior Notes”). The February 2018 New Senior Notes were offered at a price to the public of 99.931 percent , 99.551 percent , 98.811 percent , 99.348 percent , and 99.289 percent of par, respectively. Also on February 8, 2018 , $4.1 billion of the net proceeds were used to repay a 364-day term loan facility, which was drawn on February 1, 2018 to fund the cash portion of the dropdown consideration for Refining Logistics and Fuels Distribution. The remaining proceeds were used to repay outstanding borrowings under the MPLX Credit Agreement and the MPC Loan Agreement, as well as for general business purposes. Interest on each series of notes due in 2023 and 2028 is payable semi-annually in arrears, commencing on September 15, 2018. Interest on each series of notes due in 2038, 2048 and 2058 is payable semi-annually in arrears, commencing on October 15, 2018. |
Revenue
Revenue | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer [Text Block] | Revenue Disaggregation of Revenue The following tables represent a disaggregation of revenue for each reportable segment for the three and six months ended June 30, 2019 and 2018 : Three Months Ended June 30, 2019 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 33 $ 415 $ 448 Service revenue - related parties 620 — 620 Service revenue - product related — 26 26 Product sales (1) 2 166 168 Product sales - related parties 2 12 14 Total revenues from contracts with customers $ 657 $ 619 1,276 Non-ASC 606 revenue (2) 353 Total revenues and other income $ 1,629 Three Months Ended June 30, 2018 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 32 $ 378 $ 410 Service revenue - related parties 549 — 549 Service revenue - product related — 51 51 Product sales (1) 1 207 208 Product sales - related parties 2 11 13 Total revenues from contracts with customers $ 584 $ 647 1,231 Non-ASC 606 revenue (2) 347 Total revenues and other income $ 1,578 Six Months Ended June 30, 2019 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 67 $ 819 $ 886 Service revenue - related parties 1,198 — 1,198 Service revenue - product related — 60 60 Product sales (1) 3 367 370 Product sales - related parties 4 21 25 Total revenues from contracts with customers $ 1,272 $ 1,267 2,539 Non-ASC 606 revenue (2) 736 Total revenues and other income $ 3,275 Six Months Ended June 30, 2018 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 60 $ 732 $ 792 Service revenue - related parties 1,020 — 1,020 Service revenue - product related — 95 95 Product sales (1) 2 412 414 Product sales - related parties 3 14 17 Total revenues from contracts with customers $ 1,085 $ 1,253 2,338 Non-ASC 606 revenue (2) 660 Total revenues and other income $ 2,998 (1) G&P “Product sales” for the three and six months ended June 30, 2018 includes approximately $2 million and $1 million of revenue related to derivative gains and losses and mark-to-market adjustments, respectively. There were no adjustments for the three and six months ended June 30, 2019 . (2) Non-ASC 606 Revenue includes rental income, income from equity method investments, derivative gains and losses, mark-to-market adjustments, and other income. Contract Balances Contract assets typically relate to aid in construction agreements where the revenue recognized and MPLX’s rights to consideration for work completed exceeds the amount billed to the customer. Contract assets are generally classified as current and included in “Other current assets” on the Consolidated Balance Sheets. Contract liabilities, which we refer to as “Deferred revenue” and “Long-term deferred revenue,” typically relate to advance payments for aid in construction agreements and deferred customer credits associated with makeup rights and minimum volume commitments. Related to minimum volume commitments, breakage is estimated and recognized into service revenue in instances where it is probable the customer will not use the credit in future periods. We classify contract liabilities as current or long-term based on the timing of when we expect to recognize revenue. “Receivables, net” primarily relate to our commodity sales. Portions of the “Receivables, net” balance are attributed to the sale of commodity product controlled by MPLX prior to sale while a significant portion of the balance relates to the sale of commodity product on behalf of our producer customers. Both types of transactions are commingled and excluded from the table below. MPLX remits the net sales price back to our producer customers upon completion of the sale. Each period end, certain amounts within accounts payable relate to our payments to producer customers. Such amounts are not deemed material at period end as a result of when we settle with each producer. The table below reflects the changes in our contract balances for the period ended June 30, 2019 : (In millions) Balance at December 31, 2018 (1) Additions/ (Deletions) Revenue Recognized (2) Balance at June 30, 2019 Contract assets $ 4 $ 2 $ (1 ) $ 5 Deferred revenue 4 2 (1 ) 5 Deferred revenue - related parties 50 4 (17 ) 37 Long-term deferred revenue 10 3 — 13 Long-term deferred revenue - related parties $ 42 $ (2 ) $ — $ 40 (1) Balance represents ASC 606 portion of each respective line item. (2) No significant revenue was recognized related to past performance obligations in the current period. Remaining Performance Obligations The table below includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. As of June 30, 2019 , the amounts allocated to contract assets and contract liabilities on the Consolidated Balance Sheets are $93 million and are reflected in the amounts below. This will be recognized as revenue as the obligations are satisfied, which is expected to occur over the next 25 years . Further, MPLX does not disclose variable consideration due to volume variability in the table below. (In millions) 2019 $ 587 2020 1,181 2021 1,196 2022 1,181 2023 and thereafter 5,655 Total revenue on remaining performance obligations (1),(2),(3) $ 9,800 (1) All fixed consideration from contracts with customers is included in the amounts presented above. Variable consideration that is constrained or not required to be estimated as it reflects our efforts to perform is excluded. (2) Arrangements deemed implicit leases are included in “Rental income” and are excluded from this table. (3) Only minimum volume commitments that are deemed fixed are included in the table above. MPLX has various minimum volume commitments in processing arrangements that vary based on the actual Btu content of the gas received. These amounts are deemed variable consideration and are excluded from the table above. We do not disclose information on the future performance obligations for any contract with an original expected duration of one year or less. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 6 Months Ended |
Jun. 30, 2019 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information [Text Block] | Supplemental Cash Flow Information (In millions) June 30, 2019 December 31, 2018 Cash and cash equivalents $ 7 $ 68 Restricted cash (1) — 8 Cash, cash equivalents and restricted cash $ 7 $ 76 (1) The restricted cash balance is included within “Other current assets” on the Consolidated Balance Sheets. Six Months Ended June 30, (In millions) 2019 2018 Net cash provided by operating activities included: Interest paid (net of amounts capitalized) $ 284 $ 154 Income taxes paid — 1 Cash paid for amounts included in the measurement of lease liabilities Payments on operating leases 35 — Non-cash investing and financing activities: Net transfers of property, plant and equipment from materials and supplies inventories 1 2 ROU assets obtained in exchange for new operating lease obligations 6 — ROU assets obtained in exchange for new finance lease obligations $ 3 $ — The Consolidated Statements of Cash Flows exclude changes to the Consolidated Balance Sheets that did not affect cash. The following is the change of additions to property, plant and equipment related to capital accruals: Six Months Ended June 30, (In millions) 2019 2018 (Decrease)/increase in capital accruals $ (85 ) $ 115 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 6 Months Ended |
Jun. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Accumulated Other Comprehensive Loss MPLX LP records an accumulated other comprehensive loss on the Consolidated Balance Sheets relating to pension and other post-retirement benefits provided by LOOP LLC (“LOOP”) and Explorer Pipeline Company (“Explorer”) to their employees. MPLX LP is not a sponsor of these benefit plans. The following table shows the changes in “Accumulated other comprehensive loss” by component during the period December 31, 2018 through June 30, 2019 . (In millions) Pension Other Total Balance at December 31, 2018 (1) $ (14 ) $ (2 ) $ (16 ) Other comprehensive income - remeasurements (2) — 1 1 Balance at June 30, 2019 (1) $ (14 ) $ (1 ) $ (15 ) The following table shows the changes in “Accumulated other comprehensive loss” by component during the period December 31, 2017 through June 30, 2018 . (In millions) Pension Benefits Other Post-Retirement Benefits Total Balance at December 31, 2017 (1) $ (13 ) $ (1 ) $ (14 ) Other comprehensive loss - remeasurements (2) (1 ) (1 ) (2 ) Balance at June 30, 2018 (1) $ (14 ) $ (2 ) $ (16 ) (1) These components of “Accumulated other comprehensive loss” are included in the computation of net periodic benefit cost by LOOP and Explorer and are therefore included on the Consolidated Statements of Income under the caption “Income/(loss) from equity method investments.” |
Equity-Based Compensation Plan
Equity-Based Compensation Plan | 6 Months Ended |
Jun. 30, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Equity-Based Compensation Plan | Equity-Based Compensation Phantom Units – The following is a summary of phantom unit award activity of MPLX LP common units for the six months ended June 30, 2019 : Number Weighted Outstanding at December 31, 2018 1,154,335 $ 34.34 Granted 197,345 33.08 Settled (377,559 ) 33.42 Forfeited (16,255 ) 34.82 Outstanding at June 30, 2019 957,866 $ 34.44 Performance Units – MPLX grants performance units to certain officers of the general partner and certain eligible MPC officers who make significant contributions to its business. These performance units pay out 75 percent in cash and 25 percent in MPLX LP common units and often contain both market and performance conditions based on various metrics. Market conditions are valued using a Monte Carlo valuation while performance conditions are reevaluated periodically and valued at the compensation cost associated with the performance outcome deemed most probable. The performance units granted in 2019 are hybrid awards having a three-year performance period of January 1, 2019 through December 31, 2021. The payout of the award is dependent on two independent conditions, each constituting 50 percent of the overall target units granted. The awards have a performance condition based on MPLX LP’s distributable cash flow, and a market condition based on MPLX LP’s total unitholder return. The market condition was valued using a Monte Carlo valuation, resulting in a grant date fair value of $.68 per unit for the 2019 equity-classified performance units. Grant date fair value of the performance condition is based on potential payouts per unit of up to $2.00 per unit. Compensation cost associated with the performance condition is based on the grant date fair value of the payout deemed most probable to occur and is adjusted as the expectation for payout changes. During the first quarter of 2018, a performance award was granted; however, a grant date could not be established based on the nature of the award terms. Given that a grant date cannot be established, no expense or units have been recorded. When a grant date is established, the fair value of the award will be recognized over the remaining performance period. The following is a summary of the activity for performance unit awards to be settled in MPLX LP common units for the six months ended June 30, 2019 : Number of Outstanding at December 31, 2018 1,941,750 Granted 987,994 Settled (772,397 ) Forfeited — Outstanding at June 30, 2019 2,157,347 |
Leases Leases (Notes)
Leases Leases (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Text Block [Abstract] | |
Lessee, Finance Leases [Text Block] | Lessee We lease a wide variety of facilities and equipment under leases from third parties, including land and building space, office and field equipment, storage facilities and transportation equipment, while our related party leases primarily relate to ground leases associated with our refining logistics assets. Our remaining lease terms range from less than one year to 60 years. Some long-term leases include renewal options ranging from one to 50 years and, in certain leases, also include purchase options. Renewal options and termination options were not included in the measurement of ROU assets and lease liabilities since it was determined they were not reasonably certain to be exercised. Under ASC 842, the components of lease costs were as follows: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 (In millions) Related Party Third Party Related Party Third Party Components of lease costs: Operating lease costs $ 4 $ 14 $ 8 $ 28 Variable lease cost — 1 — 3 Short-term lease cost — 11 — 21 Total lease cost $ 4 $ 26 $ 8 $ 52 Supplemental balance sheet data related to leases were as follows: June 30, 2019 (In millions) Related Party Third Party Operating leases Assets Right of use assets $ 232 $ 255 Liabilities Operating lease liabilities 1 47 Long-term operating lease liabilities 231 209 Total operating lease liabilities $ 232 $ 256 Weighted average remaining lease term 47.67 years 6.74 years Weighted average discount rate 5.80 % 4.31 % Finance leases Assets Property, plant and equipment, gross $ 27 Accumulated depreciation 9 Property, plant and equipment, net 18 Liabilities Other current liabilities 6 Long-term debt 2 Total finance lease liabilities $ 8 Weighted average remaining lease term 16.82 years Weighted average discount rate 5.76 % As of June 30, 2019 , maturities of lease liabilities for operating lease obligations and finance lease obligations having initial or remaining non-cancellable lease terms in excess of one year are as follows: (In millions) Related Party Operating Third Party Operating Finance 2019 $ 8 $ 30 $ 1 2020 14 55 6 2021 14 52 — 2022 14 47 — 2023 14 43 — 2024 and thereafter 619 68 7 Gross lease payments 683 295 14 Less: imputed interest 451 39 6 Total lease liabilities $ 232 $ 256 $ 8 Future minimum commitments as of December 31, 2018, for capital lease obligations and for operating lease obligations having initial or remaining non-cancellable lease terms in excess of one year are as follows: (In millions) Operating Capital Lease Obligations 2019 $ 73 $ 2 2020 70 5 2021 67 — 2022 64 — 2023 58 — 2024 and thereafter 719 — Total minimum lease payments $ 1,051 7 Less: imputed interest costs 1 Present value of net minimum lease payments $ 6 |
Lessee, Operating Leases [Text Block] | Lessee We lease a wide variety of facilities and equipment under leases from third parties, including land and building space, office and field equipment, storage facilities and transportation equipment, while our related party leases primarily relate to ground leases associated with our refining logistics assets. Our remaining lease terms range from less than one year to 60 years. Some long-term leases include renewal options ranging from one to 50 years and, in certain leases, also include purchase options. Renewal options and termination options were not included in the measurement of ROU assets and lease liabilities since it was determined they were not reasonably certain to be exercised. Under ASC 842, the components of lease costs were as follows: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 (In millions) Related Party Third Party Related Party Third Party Components of lease costs: Operating lease costs $ 4 $ 14 $ 8 $ 28 Variable lease cost — 1 — 3 Short-term lease cost — 11 — 21 Total lease cost $ 4 $ 26 $ 8 $ 52 Supplemental balance sheet data related to leases were as follows: June 30, 2019 (In millions) Related Party Third Party Operating leases Assets Right of use assets $ 232 $ 255 Liabilities Operating lease liabilities 1 47 Long-term operating lease liabilities 231 209 Total operating lease liabilities $ 232 $ 256 Weighted average remaining lease term 47.67 years 6.74 years Weighted average discount rate 5.80 % 4.31 % Finance leases Assets Property, plant and equipment, gross $ 27 Accumulated depreciation 9 Property, plant and equipment, net 18 Liabilities Other current liabilities 6 Long-term debt 2 Total finance lease liabilities $ 8 Weighted average remaining lease term 16.82 years Weighted average discount rate 5.76 % As of June 30, 2019 , maturities of lease liabilities for operating lease obligations and finance lease obligations having initial or remaining non-cancellable lease terms in excess of one year are as follows: (In millions) Related Party Operating Third Party Operating Finance 2019 $ 8 $ 30 $ 1 2020 14 55 6 2021 14 52 — 2022 14 47 — 2023 14 43 — 2024 and thereafter 619 68 7 Gross lease payments 683 295 14 Less: imputed interest 451 39 6 Total lease liabilities $ 232 $ 256 $ 8 Future minimum commitments as of December 31, 2018, for capital lease obligations and for operating lease obligations having initial or remaining non-cancellable lease terms in excess of one year are as follows: (In millions) Operating Capital Lease Obligations 2019 $ 73 $ 2 2020 70 5 2021 67 — 2022 64 — 2023 58 — 2024 and thereafter 719 — Total minimum lease payments $ 1,051 7 Less: imputed interest costs 1 Present value of net minimum lease payments $ 6 |
Lessor, Operating Leases [Text Block] | Lessor Based on the terms of fee-based transportation and storage services agreements with MPC as well as certain natural gas gathering, transportation and processing agreements, MPLX is considered to be the lessor under several operating lease arrangements in accordance with GAAP. The agreements with MPC have remaining terms ranging from less than one year to 12 years with renewal options ranging from zero to 10 years. MPLX’s primary natural gas lease operations relate to a natural gas gathering agreement in the Marcellus Shale for which it earns a fixed-fee for providing gathering services to a single producer using a dedicated gathering system. As the gathering system is expanded, the fixed-fee charged to the producer is adjusted to include the additional gathering assets in the lease. The primary term of the natural gas gathering arrangement expires in 2038 and will continue thereafter on a year-to-year basis until terminated by either party. Other significant natural gas implicit leases relate to a natural gas processing agreement in the Marcellus Shale and a natural gas processing agreement in the Southern Appalachia region for which MPLX earns minimum monthly fees for providing processing services to a single producer using a dedicated processing plant. The primary term of these natural gas processing agreements expires during 2023 and 2033, these contracts will continue thereafter on a year-to-year basis until terminated by either party. MPLX’s revenue from its lease arrangements, excluding executory costs, totaled approximately $216 million and $464 million for the three and six months ended June 30, 2019 , respectively. MPLX did not elect to use the practical expedient to combine lease and non-lease components for lessor arrangements. The tables below represent the portion of the contract allocated to the lease component based on relative standalone selling price. Lessor agreements are currently deemed operating, as we elected the practical expedient to carry forward historical classification conclusions. We will determine the impact of the new standard on these arrangements if and when a modification occurs and they are required to be assessed under ASC 842. MPLX may be required to re-classify existing operating leases to sales-type leases upon modification and related reassessment of the leases. MPLX’s lease arrangements related to the processing facilities contain contingent rental provisions whereby MPLX receives additional fees if the producer customer exceeds the monthly minimum processed volumes. During the three and six months ended June 30, 2019 , MPLX received less than $1 million of contingent lease payments. The following is a schedule of minimum future rental revenue on the non-cancellable operating leases as of June 30, 2019 : (In millions) Related Party Third Party Total 2019 $ 316 $ 90 $ 406 2020 633 178 811 2021 636 169 805 2022 635 166 801 2023 623 161 784 2024 and thereafter 2,409 1,264 3,673 Total minimum future rentals $ 5,252 $ 2,028 $ 7,280 The following is a schedule of minimum future rental revenue on the non-cancellable operating leases as of December 31, 2018: (In millions) Related Party Third Party Total 2019 $ 748 $ 160 $ 908 2020 750 159 909 2021 627 150 777 2022 627 148 775 2023 616 142 758 2024 and thereafter 2,321 1,111 3,432 Total minimum future rentals $ 5,689 $ 1,870 $ 7,559 The following schedule summarizes MPLX’s investment in assets held for operating lease by major classes as of June 30, 2019 and December 31, 2018 : (In millions) June 30, 2019 December 31, 2018 Natural gas gathering and NGL transportation pipelines and facilities $ 1,038 $ 964 Processing, fractionation and storage facilities 1,550 1,398 Pipelines and related assets 275 266 Barges and towing vessels 656 619 Terminals and related assets 1,185 1,178 Refinery related assets 949 938 Land, building, office equipment and other 207 162 Total 5,860 5,525 Less accumulated depreciation 2,230 2,038 Property, plant and equipment, net $ 3,630 $ 3,487 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Commitments and Contingencies MPLX is the subject of, or a party to, a number of pending or threatened legal actions, contingencies and commitments involving a variety of matters, including laws and regulations relating to the environment. Some of these matters are discussed below. For matters for which MPLX has not recorded an accrued liability, MPLX is unable to estimate a range of possible losses for the reasons discussed in more detail below. For matters for which MPLX has recorded an accrued liability, MPLX does not consider it reasonably possible that a loss resulting from such matter in excess of any amounts accrued has been incurred that is expected to have a material adverse effect on MPLX’s consolidated financial position, results of operations or cash flows. However, the ultimate resolution of some of these contingencies could, individually or in the aggregate, be material. Environmental Matters – MPLX is subject to federal, state and local laws and regulations relating to the environment. These laws generally provide for control of pollutants released into the environment and require responsible parties to undertake remediation of hazardous waste disposal sites. Penalties may be imposed for non-compliance. At June 30, 2019 and December 31, 2018 , accrued liabilities for remediation totaled $16 million and $14 million , respectively. However, it is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties, if any, which may be imposed. At June 30, 2019 and December 31, 2018 , there were no balances with MPC for indemnification of environmental costs. MPLX is involved in environmental enforcement matters arising in the ordinary course of business. While the outcome and impact on MPLX LP cannot be predicted with certainty, management believes the resolution of these environmental matters will not, individually or collectively, have a material adverse effect on its consolidated results of operations, financial position or cash flows. Other Lawsuits – MPLX, MarkWest, MarkWest Liberty Midstream, MarkWest Liberty Bluestone, L.L.C., Ohio Fractionation and MarkWest Utica EMG (collectively, the “MPLX Parties”) are parties to various lawsuits with Bilfinger Westcon, Inc. (“Westcon”) that were instituted in 2016 and 2017 in Pennsylvania, West Virginia and Ohio. The lawsuits relate to disputes regarding construction work performed by Westcon at the Bluestone, Mobley and Cadiz processing complexes in Pennsylvania, West Virginia and Ohio, respectively, and the Hopedale fractionation complex in Ohio. With respect to work performed by Westcon at the Mobley and Bluestone processing complexes, one or more of the MPLX Parties have asserted breach of contract, fraud, and with respect to work performed at the Mobley processing complex, MarkWest Liberty Midstream has also asserted negligent misrepresentation claims against Westcon. Westcon has also asserted claims against one or more of the MPLX Parties regarding these construction projects for breach of contract, unjust enrichment, promissory estoppel, fraud and constructive fraud, tortious interference with contractual relations, and civil conspiracy. Collectively, in the several cases, the MPLX Parties sought in excess of $10 million , plus an unspecified amount of punitive damages. Collectively, in the several cases, Westcon sought in excess of $40 million , plus an unspecified amount of punitive damages. On July 31, 2019, Westcon and the MPLX Parties reached an agreement to resolve the disputes among those parties relating to the Bluestone processing complex in Pennsylvania. The settlement will not have a material adverse effect on MPLX’s consolidated financial position, results of operations or cash flows. While the ultimate outcome and impact to MPLX cannot be predicted with certainty, MPLX does not consider it reasonably possible that a loss resulting from the remaining lawsuits or other proceedings in excess of any amounts accrued has been incurred that is expected to have a material adverse effect on its consolidated financial position, results of operations, or cash flows. In 2003, the State of Illinois brought an action against the Premcor Refining Group, Inc. (“Premcor”) and Apex Refining Company (“Apex”) asserting claims for environmental cleanup related to the refinery owned by these entities in the Hartford/Wood River, Illinois area. In 2006, Premcor and Apex filed third-party complaints against numerous owners and operators of petroleum products facilities in the Hartford/Wood River, Illinois area, including Marathon Pipe Line LLC (“MPL”). These complaints, which have been amended since filing, assert claims of common law nuisance and contribution under the Illinois Contribution Act and other laws for environmental cleanup costs that may be imposed on Premcor and Apex by the State of Illinois. On September 6, 2016, the trial court approved a settlement between Apex and the State of Illinois whereby Apex agreed to settle all claims against it for a $10 million payment. Premcor filed a motion for permissive appeal and requested a stay to the proceeding until the motion is ruled upon. Premcor reached a settlement with the State of Illinois in the second quarter of 2018, which has been objected to by certain third-party defendants, including MPL, and is subject to court approval. Several third-party defendants in the litigation including MPL have asserted cross-claims in contribution against the various third-party defendants. This litigation is currently pending in the Third Judicial Circuit Court, Madison County, Illinois. The trial concerning Premcor’s claims against third-party defendants, including MPL, previously scheduled to commence September 10, 2018, has been postponed and a new trial date has not been set. While the ultimate outcome and impact to MPLX cannot be predicted with certainty, MPLX does not consider it reasonably possible that a loss resulting from such lawsuits or other proceedings in excess of any amounts accrued has been incurred that is expected to have a material adverse effect on its consolidated financial position, results of operations, or cash flows. Under the omnibus agreement, MPC will indemnify MPLX for the full cost of any losses should MPL be deemed responsible for any damages in this lawsuit. MPLX is also a party to a number of other lawsuits and other proceedings arising in the ordinary course of business. While the ultimate outcome and impact to MPLX cannot be predicted with certainty, MPLX believes the resolution of these other lawsuits and proceedings will not have a material adverse effect on its consolidated financial position, results of operations or cash flows. Guarantees – Over the years, MPLX has sold various assets in the normal course of its business. Certain of the related agreements contain performance and general guarantees, including guarantees regarding inaccuracies in representations, warranties, covenants and agreements, and environmental and general indemnifications that require MPLX to perform upon the occurrence of a triggering event or condition. These guarantees and indemnifications are part of the normal course of selling assets. MPLX is typically not able to calculate the maximum potential amount of future payments that could be made under such contractual provisions because of the variability inherent in the guarantees and indemnities. Most often, the nature of the guarantees and indemnities is such that there is no appropriate method for quantifying the exposure because the underlying triggering event has little or no past experience upon which a reasonable prediction of the outcome can be based. In connection with our approximate 9 percent indirect interest in a joint venture that owns and operates the Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline projects, collectively referred to as the Bakken Pipeline system, we have entered into a Contingent Equity Contribution Agreement whereby MPLX LP, along with the other joint venture owners in the Bakken Pipeline system, have agreed to make equity contributions to the joint venture upon certain events occurring to allow the entities that own and operate the Bakken Pipeline system to satisfy their senior note payment obligations. The senior notes were issued to repay amounts owed by the pipeline companies to fund the cost of construction of Bakken Pipeline system. As of June 30, 2019 , our maximum potential undiscounted payments under the Contingent Equity Contribution Agreement were approximately $230 million . Contractual Commitments and Contingencies – At June 30, 2019 , MPLX’s contractual commitments to acquire property, plant and equipment totaled $528 million . These commitments were primarily related to plant expansion projects for the Marcellus and Southwest Operations. In addition, from time to time and in the ordinary course of business, MPLX and its affiliates provide guarantees of MPLX’s subsidiaries payment and performance obligations in the G&P segment. Certain natural gas processing and gathering arrangements require MPLX to construct new natural gas processing plants, natural gas gathering pipelines and NGL pipelines and contain certain fees and charges if specified construction milestones are not achieved for reasons other than force majeure. In certain cases, certain producers may have the right to cancel the processing arrangements if there are significant delays that are not due to force majeure. As of June 30, 2019 , management does not believe there are any indications that MPLX will not be able to meet the construction milestones, that force majeure does not apply or that such fees and charges will otherwise be triggered. |
Subsequent Events Subsequent Ev
Subsequent Events Subsequent Events (Notes) | 6 Months Ended |
Jun. 30, 2019 | |
Subsequent Event [Line Items] | |
Subsequent Events [Text Block] | Subsequent Events As previously disclosed, on May 7, 2019, ANDX, TLGP, MPLX, MPLX GP and Merger Sub, entered into a Merger Agreement that provided for, among other things, the merger of Merger Sub with and into ANDX. On July 30, 2019, the Merger was completed, and ANDX survived the Merger as a wholly-owned subsidiary of MPLX. At the effective time of the Merger, each common unit held by ANDX’s public unitholders was converted into the right to receive 1.135 MPLX common units. ANDX common units held by certain affiliates of MPC were converted into the right to receive 1.0328 MPLX common units. Also effective July 30, 2019 in connection with the closing of the Merger, MPLX amended and restated its existing $2.25 billion revolving credit facility to increase borrowing capacity to up to $3.5 billion and extend its term to July 30, 2024. ANDX’s revolving credit facilities totaling $2.1 billion in borrowing capacity were terminated upon the closing and repaid with borrowings under the MPLX revolving credit facility. Additionally, on July 31, 2019, MPLX upsized its existing $1.0 billion intercompany loan agreement with MPC to $1.5 billion . See Note 3 for additional information related to this transaction. |
Description of the Business a_2
Description of the Business and Basis of Presentation Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Business Description and Basis of Presentation [Text Block] | Description of the Business and Basis of Presentation Description of the Business – MPLX LP is a diversified, large-cap master limited partnership formed by Marathon Petroleum Corporation that owns and operates midstream energy infrastructure and logistics assets, and provides fuels distribution services. References in this report to “MPLX LP,” “MPLX,” “the Partnership,” “we,” “ours,” “us,” or like terms refer to MPLX LP and its subsidiaries. References to “MPC” refer collectively to Marathon Petroleum Corporation as our sponsor and its subsidiaries, other than the Partnership. We are engaged in the transportation, storage and distribution of crude oil and refined petroleum products; the gathering, processing and transportation of natural gas; and the gathering, transportation, fractionation, storage and marketing of NGLs. MPLX’s principal executive office is located in Findlay, Ohio. MPLX’s business consists of two segments based on the nature of services it offers: Logistics and Storage (“L&S”), which relates primarily to crude oil and refined petroleum products; and Gathering and Processing (“G&P”), which relates primarily to natural gas and NGLs. See Note 9 for additional information regarding the operations and results of these segments. On July 30, 2019, MPLX completed its acquisition by merger (the “Merger”) of Andeavor Logistics LP (“ANDX”). At the effective time of the Merger, each common unit held by ANDX’s public unitholders was converted into the right to receive 1.135 MPLX common units. ANDX common units held by certain affiliates of MPC were converted into the right to receive 1.0328 MPLX common units. See Note 3 for additional information regarding the Merger. Basis of Presentation – The accompanying interim consolidated financial statements are unaudited; however, in the opinion of MPLX’s management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal, recurring nature unless otherwise disclosed. These interim consolidated financial statements, including the notes, have been prepared in accordance with the rules and regulations of the SEC applicable to interim period financial statements and do not include all of the information and disclosures required by GAAP for complete financial statements. Certain amounts in prior years have been reclassified to conform to current year presentation. These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2018 . The results of operations for the three and six months ended June 30, 2019 are not necessarily indicative of the results to be expected for the full year. MPLX’s consolidated financial statements include all majority-owned and controlled subsidiaries. For non-wholly-owned consolidated subsidiaries, the interests owned by third parties have been recorded as “Noncontrolling interests” on the accompanying Consolidated Balance Sheets. Intercompany investments, accounts and transactions have been eliminated. MPLX’s investments in which MPLX exercises significant influence but does not control and does not have a controlling financial interest are accounted for using the equity method. MPLX’s investments in a VIE in which MPLX exercises significant influence but does not control and is not the primary beneficiary are also accounted for using the equity method. In preparing the Consolidated Statements of Equity, net income attributable to MPLX LP is allocated to Series A preferred unitholders based on a fixed distribution schedule. Distributions, although earned, are not accrued until declared. The allocation of net income attributable to MPLX LP for purposes of calculating net income per limited partner unit is described in Note 6 . |
Use of Estimates, Policy [Policy Text Block] | The accompanying interim consolidated financial statements are unaudited; however, in the opinion of MPLX’s management, these statements reflect all adjustments necessary for a fair statement of the results for the periods reported. All such adjustments are of a normal, recurring nature unless otherwise disclosed. These interim consolidated financial statements, including the notes, have been prepared in accordance with the rules and regulations of the SEC applicable to interim period financial statements and do not include all of the information and disclosures required by GAAP for complete financial statements. Certain amounts in prior years have been reclassified to conform to current year presentation. |
Earnings Per Share, Policy [Policy Text Block] | In preparing the Consolidated Statements of Equity, net income attributable to MPLX LP is allocated to Series A preferred unitholders based on a fixed distribution schedule. Distributions, although earned, are not accrued until declared. The allocation of net income attributable to MPLX LP for purposes of calculating net income per limited partner unit is described in Note 6 . Net income/(loss) per unit applicable to common units is computed by dividing net income/(loss) attributable to MPLX LP less income/(loss) allocated to participating securities by the weighted average number of common units outstanding. Additional MPLX common units and MPLX Series B preferred units were issued on July 30, 2019 as a result of the merger with ANDX as discussed in Note 3. Distributions declared on these newly-issued common and Series B preferred units are a reduction to income available to MPLX common unit holders due to their participation in distributions of second quarter income. The classes of participating securities include common units, certain equity-based compensation awards, Series A preferred units and Series B preferred units for the three and six months ended June 30, 2019 and common units, certain equity-based compensation awards and Series A preferred units for the three and six months ended June 30, 2018. |
Net Income Per Limited Partne_2
Net Income Per Limited Partner Unit Accounting Policy (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Earnings Per Share, Policy [Policy Text Block] | In preparing the Consolidated Statements of Equity, net income attributable to MPLX LP is allocated to Series A preferred unitholders based on a fixed distribution schedule. Distributions, although earned, are not accrued until declared. The allocation of net income attributable to MPLX LP for purposes of calculating net income per limited partner unit is described in Note 6 . Net income/(loss) per unit applicable to common units is computed by dividing net income/(loss) attributable to MPLX LP less income/(loss) allocated to participating securities by the weighted average number of common units outstanding. Additional MPLX common units and MPLX Series B preferred units were issued on July 30, 2019 as a result of the merger with ANDX as discussed in Note 3. Distributions declared on these newly-issued common and Series B preferred units are a reduction to income available to MPLX common unit holders due to their participation in distributions of second quarter income. The classes of participating securities include common units, certain equity-based compensation awards, Series A preferred units and Series B preferred units for the three and six months ended June 30, 2019 and common units, certain equity-based compensation awards and Series A preferred units for the three and six months ended June 30, 2018. |
Acquisitions Acquisitions (Tabl
Acquisitions Acquisitions (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited pro forma information combines the historical operations of MPLX and ANDX, giving effect to the merger as if it had been consummated on January 1, 2018, the beginning of the earliest period presented. Three Months Ended Six Months Ended (In millions) 2019 2018 2019 2018 Total revenues and other income $ 2,224 $ 2,122 $ 4,461 $ 4,059 Net income attributable to MPLX LP $ 652 $ 600 $ 1,324 $ 1,161 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | MPC accounted for its October 1, 2018 acquisition of Andeavor (including acquiring control of ANDX), using the acquisition method of accounting which required Andeavor assets and liabilities to be recorded by MPC at the acquisition date fair value. As a result of MPC’s relationship with both MPLX and ANDX, the Merger will be treated as a common control transaction, which requires the recognition of assets and liabilities acquired using MPC’s historical basis as of October 1, 2018. The fair value of assets acquired and liabilities assumed shown below have been pushed down from MPC and are considered preliminary as MPC has not yet completed a final determination of the respective fair values related to its acquisition of Andeavor. The preliminary purchase consideration allocation may change based on additional information received. Adjustments to this allocation can be made through the end of MPC’s measurement period, which is not to exceed one year from the Andeavor acquisition date. Values shown below have not been incorporated into the results of MPLX as of June 30, 2019 as the Merger was not closed until July 30, 2019. (In millions) Cash and cash equivalents $ 83 Receivables, net 241 Inventories 21 Other current assets (1) 59 Equity method investments 731 Property, plant and equipment, net 6,709 Intangibles, net 960 Other noncurrent assets (2) 31 Total assets acquired 8,835 Accounts payable 198 Other current liabilities (3) 188 Long-term debt 4,916 Deferred credits and other long-term liabilities (4) 75 Total liabilities assumed 5,377 Net assets acquired excluding goodwill 3,458 Goodwill 7,428 Total purchase price $ 10,886 (1) Includes both related party and third party other current assets. (2) Includes both related party and third party other noncurrent assets as well as right of use assets associated with leases. (3) Includes accrued liabilities, operating lease liabilities, long term debt due within one year, as well as related party and third party other current liabilities. (4) Includes deferred revenue and deferred income taxes, as well as related party and third party other noncurrent liabilities. |
Equity Method Investments (Tabl
Equity Method Investments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Schedule of Equity Method Investments [Line Items] | |
Equity Method Investments [Table Text Block] | The following table presents MPLX’s equity method investments at the dates indicated: Ownership as of Carrying value at June 30, June 30, December 31, (In millions, except ownership percentages) 2019 2019 2018 Explorer Pipeline Company 25% $ 83 $ 90 Illinois Extension Pipeline Company, L.L.C. 35% 278 275 LOCAP LLC 59% 27 27 LOOP LLC 41% 234 226 MarEn Bakken Company LLC 25% 487 498 Centrahoma Processing LLC 40% 155 160 MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C. 67% 269 236 MarkWest Utica EMG, L.L.C. 56% 2,026 2,039 Sherwood Midstream LLC 50% 491 366 Sherwood Midstream Holdings LLC 56% 162 157 Other 197 100 Total $ 4,409 $ 4,174 |
Summarized Financial Information For Equity Method Investees Table [Table Text Block] | Summarized financial information for MPLX’s equity method investments for the six months ended June 30, 2019 and 2018 is as follows: Six Months Ended June 30, 2019 (In millions) VIEs Non-VIEs (2) Total Revenues and other income $ 282 $ 608 $ 890 Costs and expenses 146 236 382 Income from operations 136 372 508 Net income 117 339 456 Income from equity method investments (1) $ 48 $ 95 $ 143 Six Months Ended June 30, 2018 (In millions) VIEs Non-VIEs Total Revenues and other income $ 209 $ 589 $ 798 Costs and expenses 127 305 432 Income from operations 82 284 366 Net income 81 256 337 Income from equity method investments (1) $ 26 $ 85 $ 111 (1) “ Income from equity method investments ” includes the impact of any basis differential amortization or accretion. (2) Includes three months of activity related to Johnson County Terminal, we sold our investment in this joint venture on April 1, 2019. Summarized balance sheet information for MPLX’s equity method investments as of June 30, 2019 and December 31, 2018 is as follows: June 30, 2019 (In millions) VIEs Non-VIEs Total Current assets $ 200 $ 357 $ 557 Noncurrent assets 4,597 4,656 9,253 Current liabilities 163 225 388 Noncurrent liabilities $ 233 $ 845 $ 1,078 December 31, 2018 (In millions) VIEs Non-VIEs Total Current assets $ 235 $ 379 $ 614 Noncurrent assets 3,535 4,715 8,250 Current liabilities 155 246 401 Noncurrent liabilities $ 189 $ 841 $ 1,030 |
Related Party Agreements and _2
Related Party Agreements and Transactions (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions [Abstract] | |
Other Long-term Debt, Noncurrent | Activity on the MPC Loan Agreement was as follows: (In millions) Six Months Ended June 30, 2019 Year Ended December 31, 2018 Borrowings $ 3,066 $ 3,962 Average interest rate of borrowings 3.845 % 3.473 % Repayments $ 3,022 $ 4,347 Outstanding balance at end of period (1) $ 44 $ — (1) Included in “Current liabilities - related parties” on the Consolidated Balance Sheets. |
Schedule of Sales to Related Parties | Revenue received from related parties included on the Consolidated Statements of Income was as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Service revenues - related parties MPC $ 620 $ 549 $ 1,198 $ 1,020 Rental income - related parties MPC 158 190 351 335 Product sales - related parties (1) MPC 14 13 25 17 Other income - related parties MPC 10 10 20 20 MarkWest Utica EMG 4 4 8 8 Ohio Gathering 5 4 9 8 Sherwood Midstream 3 2 7 5 Jefferson Dry Gas 1 2 3 3 Other 4 2 6 3 Total Other income - related parties $ 27 $ 24 $ 53 $ 47 (1) There were additional product sales to MPC that net to zero within the consolidated financial statements as the transactions are recorded net due to the terms of the agreements under which such product was sold. For the three and six months ended June 30, 2019 , these sales totaled $118 million and $204 million , respectively. For the three and six months ended June 30, 2018 , these sales totaled $112 million and $191 million , respectively. |
Schedule of Employee Services Expenses from Related Parties | Expenses incurred from MPC under the omnibus and employee services agreements as well as other purchases from MPC included on the Consolidated Statements of Income are as follows: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Rental cost of sales - related parties $ 2 $ — $ 5 $ 1 Purchases - related parties 239 223 451 400 General and administrative expenses 43 44 93 83 Total $ 284 $ 267 $ 549 $ 484 |
Schedule of Related Party Transactions [Table Text Block] | Assets and liabilities with related parties appearing on the Consolidated Balance Sheets are detailed in the table below. This table identifies the various components of related party assets and liabilities, including those associated with leases (see Note 19 for additional information) and deferred revenue on minimum volume commitments. During the six months ended June 30, 2019 and the year ended December 31, 2018 , MPC did not ship its minimum committed volumes on certain pipelines. Under MPLX’s pipeline transportation services agreements, if MPC fails to transport its minimum throughput volumes during any quarter, then MPC will pay MPLX a deficiency payment equal to the volume of the deficiency multiplied by the tariff rate then in effect. The deficiency amounts are recorded as “Current liabilities - related parties.” MPC may then apply the amount of any such deficiency payments as a credit for volumes transported on the applicable pipeline in excess of its minimum volume commitment in future periods under the terms of the applicable transportation services agreement. MPLX recognizes related party revenues for the deficiency payments when credits are used for volumes transported in excess of minimum quarterly volume commitments, where it is probable the customer will not use the credit in future periods or upon the expiration of the credits. The use or expiration of the credits is a decrease in “Current liabilities - related parties.” In addition, capital projects MPLX is undertaking at the request of MPC are reimbursed in cash and recognized in income over the remaining term of the applicable agreements. (In millions) June 30, 2019 December 31, 2018 Current assets - related parties Receivables - MPC $ 318 $ 281 Receivables - Other 10 8 Prepaid - MPC 5 1 Total 333 290 Noncurrent assets - related parties Long-term receivables - MPC 21 24 Right of use assets - MPC 232 — Total 253 24 Current liabilities - related parties Payables - MPC 157 131 Payables - MarkWest Utica EMG 10 51 Payables - Sherwood Midstream 17 16 Payables - Other — 5 Operating lease liabilities - MPC 1 — Deferred revenue - Minimum volume deficiencies - MPC 31 44 Deferred revenue - Project reimbursements - MPC 8 7 Total 224 254 Long-term liabilities - related parties Long-term operating lease liabilities - MPC 231 — Long-term deferred revenue - Project reimbursements - MPC 40 43 Total $ 271 $ 43 |
Net Income Per Limited Partne_3
Net Income Per Limited Partner Unit (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Distributions By Partner By Class | For the three and six months ended June 30, 2019 and 2018 , MPLX had dilutive potential common units consisting of certain equity-based compensation awards. Potential common units omitted from the diluted earnings per unit calculation for the three and six months ended June 30, 2019 and 2018 were less than 1 million . Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Net income attributable to MPLX LP $ 482 $ 453 $ 985 $ 874 Less: Distributions declared on Series A preferred units (1) 21 20 41 36 Distributions declared on Series B preferred units (1) 21 — 21 — Limited partners’ distributions declared on MPLX common units (including common units of general partner) (1)(2) 692 497 1,215 964 Undistributed net loss attributable to MPLX LP $ (252 ) $ (64 ) $ (292 ) $ (126 ) (1) See Note 7 for distribution information. |
Schedule of Basic and Diluted Earnings Per Unit | Three Months Ended June 30, 2019 (In millions, except per unit data) Limited Partners’ Common Units Series A Preferred Units Series B Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit Net income attributable to MPLX LP: Distributions declared $ 692 $ 21 $ 21 $ 734 Undistributed net loss attributable to MPLX LP (252 ) — — (252 ) Net income attributable to MPLX LP (1) $ 440 $ 21 $ 21 $ 482 Weighted average units outstanding: Basic (2) 794 31 825 Diluted (2) 795 31 826 Net income attributable to MPLX LP per limited partner unit: Basic $ 0.56 Diluted $ 0.55 (1) Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities. (2) The Series B preferred units and the MPLX common units issued in connection with the merger were not outstanding during the three months ended June 30, 2019. See Notes 3 and 7 for additional information about the treatment of these units. Three Months Ended June 30, 2018 (In millions, except per unit data) Limited Partners’ Common Units Series A Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit Net income attributable to MPLX LP: Distributions declared $ 497 $ 20 $ 517 Undistributed net loss attributable to MPLX LP (64 ) — (64 ) Net income attributable to MPLX LP (1) $ 433 $ 20 $ 453 Weighted average units outstanding: Basic 794 31 825 Diluted 794 31 825 Net income attributable to MPLX LP per limited partner unit: Basic $ 0.55 Diluted $ 0.55 (1) Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities. Six Months Ended June 30, 2019 (In millions, except per unit data) Limited Partners’ Common Units Series A Preferred Units Series B Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit: Net income attributable to MPLX LP: Distributions declared $ 1,215 $ 41 $ 21 $ 1,277 Undistributed net loss attributable to MPLX LP (292 ) — — (292 ) Net income attributable to MPLX LP (1) $ 923 $ 41 $ 21 $ 985 Weighted average units outstanding: Basic (2) 794 31 825 Diluted (2) 795 31 826 Net income attributable to MPLX LP per limited partner unit: Basic $ 1.16 Diluted $ 1.16 (1) Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities. (2) The Series B preferred units and the MPLX common units issued in connection with the merger were not outstanding during the six months ended June 30, 2019. See Notes 3 and 7 for additional information about the treatment of these units. Six Months Ended June 30, 2018 (In millions, except per unit data) Limited Partners’ Common Units Series A Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit: Net income attributable to MPLX LP: Distributions declared $ 964 $ 36 $ 1,000 Undistributed net loss attributable to MPLX LP (126 ) — (126 ) Net income attributable to MPLX LP (1) $ 838 $ 36 $ 874 Weighted average units outstanding: Basic 728 31 759 Diluted 728 31 759 Net income attributable to MPLX LP per limited partner unit: Basic $ 1.15 Diluted $ 1.15 (1) Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities. |
Equity (Tables)
Equity (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Equity [Abstract] | |
Schedule of Stockholders Equity [Table Text Block] | The changes in the number of common units outstanding during the six months ended June 30, 2019 are summarized below: (In units) Common Balance at December 31, 2018 794,089,518 Unit-based compensation awards 260,101 Balance at June 30, 2019 794,349,619 |
Distributions Made to Limited Partner, by Distribution [Table Text Block] | The allocation of total quarterly cash distributions to limited and preferred unitholders is as follows for the three and six months ended June 30, 2019 and 2018 . MPLX’s distributions are declared subsequent to quarter end; therefore, the following table represents total cash distributions applicable to the period in which the distributions were earned, except for the Series B preferred unit distributions which were earned throughout 2019, prior to the merger being completed. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Common and preferred unit distributions: Common unitholders, includes common units of general partner $ 692 $ 497 $ 1,215 $ 964 Series A preferred unit distributions 21 20 41 36 Series B preferred unit distributions 21 — 21 — Total cash distributions declared $ 734 $ 517 $ 1,277 $ 1,000 The distribution on common units for the three and six months ended June 30, 2019 includes the impact of the issuance of approximately 102 million units issued to public unitholders and approximately 161 million units issued to MPC in connection with MPLX's acquisition of ANDX on July 30, 2019. Had the transaction been completed subsequent to our distribution record date, distributions would have been $163 million lower for the three and six months ended June 30, 2019. This is net of $12.5 million of waived distributions with respect to units held by MPC and its affiliates. The $12.5 million quarterly distribution waiver will continue through 2019. Total distributions excluding the newly issued common units associated with the merger and the Series B preferred units were $550 million and $1,093 for the three and six months ended June 30, 2019. |
Redeemable Preferred Units (Tab
Redeemable Preferred Units (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Temporary Equity Disclosure [Abstract] | |
Rollforward of Redeemable Preferred Units | The changes in the redeemable preferred balance from December 31, 2018 through June 30, 2019 are summarized below: (In millions) Redeemable Preferred Units Balance at December 31, 2018 $ 1,004 Net income allocated 41 Distributions received by Series A preferred unitholders (40 ) Balance at June 30, 2019 $ 1,005 |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The tables below present information about revenues and other income, capital expenditures and total assets for our reportable segments: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 L&S Service revenue $ 653 $ 581 $ 1,265 $ 1,080 Rental income 164 190 363 335 Product related revenue 4 3 7 5 Income from equity method investments 47 36 88 80 Other income 17 12 28 24 Total segment revenues and other income (1) 885 822 1,751 1,524 Segment Adjusted EBITDA (2) 569 526 1,128 963 Maintenance capital expenditures 19 25 32 47 Growth capital expenditures 115 93 218 247 G&P Service revenue 415 378 819 732 Rental income 84 84 172 163 Product related revenue 204 267 448 520 Income from equity method investments 26 14 55 31 Other income 15 13 30 28 Total segment revenues and other income (1) 744 756 1,524 1,474 Segment Adjusted EBITDA (2) 351 341 722 664 Maintenance capital expenditures 15 8 21 11 Growth capital expenditures $ 268 $ 406 $ 529 $ 677 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | (In millions) June 30, 2019 December 31, 2018 Segment assets Cash and cash equivalents $ 7 $ 68 L&S (1) 7,083 6,566 G&P (1) 16,656 16,145 Total assets $ 23,746 $ 22,779 (1) Equity method investments included in L&S assets were $1.17 billion at June 30, 2019 and $1.12 billion at December 31, 2018 . Equity method investments included in G&P assets were $3.24 billion at June 30, 2019 and $3.05 billion at December 31, 2018 . |
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Reconciliation to Net income: L&S Segment Adjusted EBITDA $ 569 $ 526 $ 1,128 $ 963 G&P Segment Adjusted EBITDA 351 341 722 664 Total reportable segments 920 867 1,850 1,627 Depreciation and amortization (1) (214 ) (188 ) (425 ) (364 ) (Provision)/benefit for income taxes (1 ) (1 ) 1 (5 ) Amortization of deferred financing costs (13 ) (15 ) (26 ) (31 ) Non-cash equity-based compensation (3 ) (5 ) (9 ) (9 ) Net interest and other financial costs (157 ) (136 ) (315 ) (250 ) Income from equity method investments 73 50 143 111 Distributions/adjustments related to equity method investments (120 ) (112 ) (228 ) (202 ) Unrealized derivative losses (2) — (8 ) (4 ) (1 ) Acquisition costs (4 ) — (4 ) (3 ) Adjusted EBITDA attributable to noncontrolling interests 7 4 14 6 Net income $ 488 $ 456 $ 997 $ 879 (1) Depreciation and amortization attributable to L&S was $70 million and $140 million for the three and six months ended June 30, 2019 , respectively, and $61 million and $109 million for the three and six months ended June 30, 2018 , respectively. Depreciation and amortization attributable to G&P was $144 million and $285 million for the three and six months ended June 30, 2019 , respectively, and $127 million and $255 million for the three and six months ended June 30, 2018 , respectively. (2) MPLX makes a distinction between realized and unrealized gains and losses on derivatives. During the period when a derivative contract is outstanding, changes in the fair value of the derivative are recorded as an unrealized gain or loss. When a derivative contract matures or is settled, the previously recorded unrealized gain or loss is reversed and the realized gain or loss of the contract is recorded. |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Summary of Inventories | Inventories consist of the following: (In millions) June 30, 2019 December 31, 2018 NGLs $ 5 $ 9 Line fill 7 9 Spare parts, materials and supplies 65 59 Total inventories $ 77 $ 77 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
Summary of Property, Plant and Equipment | Property, plant and equipment with associated accumulated depreciation is shown below: (In millions) June 30, 2019 December 31, 2018 Natural gas gathering and NGL transportation pipelines and facilities $ 6,211 $ 5,926 Processing, fractionation and storage facilities 5,365 5,336 Pipelines and related assets 2,630 2,560 Barges and towing vessels 657 620 Terminals and related assets 1,185 1,178 Refinery related assets 949 938 Land, building, office equipment and other 1,005 957 Construction-in-progress 1,084 801 Total 19,086 18,316 Less accumulated depreciation 4,065 3,677 Property, plant and equipment, net $ 15,021 $ 14,639 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table presents the financial instruments carried at fair value on a recurring basis as of June 30, 2019 and December 31, 2018 by fair value hierarchy level. MPLX has elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty. June 30, 2019 December 31, 2018 (In millions) Assets Liabilities Assets Liabilities Significant unobservable inputs (Level 3) Embedded derivatives in commodity contracts $ — $ (65 ) $ — $ (61 ) Total carrying value on Consolidated Balance Sheets $ — $ (65 ) $ — $ (61 ) |
Fair Value Inputs Assets and Liabilities Quantitative Information [Table Text Block] | Level 3 instruments include all NGL transactions and embedded derivatives in commodity contracts. The embedded derivative liability relates to a natural gas purchase commitment embedded in a keep-whole processing agreement. The fair value calculation for these Level 3 instruments used significant unobservable inputs including: (1) NGL prices interpolated and extrapolated due to inactive markets ranging from $0.46 to $1.14 and (2) the probability of renewal of 92 percent for the first five-year term and 82 percent for the second five-year term of the gas purchase commitment and related keep-whole processing agreement. Increases or decreases in the fractionation spread result in an increase or decrease in the fair value of the embedded derivative liability, respectively. An increase in the probability of renewal would result in an increase in the fair value of the related embedded derivative liability. Beyond the embedded derivative discussed above, we had no outstanding commodity contracts as of June 30, 2019 or December 31, 2018 . |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The following table is a reconciliation of the net beginning and ending balances recorded for net assets and liabilities classified as Level 3 in the fair value hierarchy. Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 (In millions) Commodity Derivative Contracts (net) Embedded Derivatives in Commodity Contracts (net) Commodity Derivative Contracts (net) Embedded Derivatives in Commodity Contracts (net) Fair value at beginning of period $ — $ (65 ) $ (2 ) $ (58 ) Total losses (realized and unrealized) included in earnings (1) — (1 ) (1 ) (11 ) Settlements — 1 1 3 Fair value at end of period — (65 ) (2 ) (66 ) The amount of total losses for the period included in earnings attributable to the change in unrealized losses relating to liabilities still held at end of period $ — $ (2 ) $ (1 ) $ (10 ) (1) Gains and losses on commodity derivative contracts classified as Level 3 are recorded in “Product sales” on the Consolidated Statements of Income. Gains and losses on derivatives embedded in commodity contracts are recorded in “Purchased product costs” and “Cost of revenues” on the Consolidated Statements of Income. Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 (In millions) Commodity Derivative Contracts (net) Embedded Derivatives in Commodity Contracts (net) Commodity Derivative Contracts (net) Embedded Derivatives in Commodity Contracts (net) Fair value at beginning of period $ — $ (61 ) $ (2 ) $ (64 ) Total losses (realized and unrealized) included in earnings (1) — (7 ) (1 ) (8 ) Settlements — 3 1 6 Fair value at end of period — (65 ) (2 ) (66 ) The amount of total losses for the period included in earnings attributable to the change in unrealized losses relating to liabilities still held at end of period $ — $ (5 ) $ — $ (5 ) (1) Gains and losses on commodity derivative contracts classified as Level 3 are recorded in “Product sales” |
Fair Value Carrying Value by Balance Sheet Grouping [Table Text Block] | The following table summarizes the fair value and carrying value of the long-term debt, excluding finance leases, and SMR liability: June 30, 2019 December 31, 2018 (In millions) Fair Value Carrying Value Fair Value Carrying Value Long-term debt $ 15,282 $ 14,123 $ 13,169 $ 13,484 SMR liability $ 94 $ 83 $ 92 $ 86 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | As of June 30, 2019 , MPLX had no outstanding commodity contracts beyond the embedded derivative discussed below. |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The impact of MPLX’s derivative instruments on its Consolidated Balance Sheets is summarized below: (In millions) June 30, 2019 December 31, 2018 Derivative contracts not designated as hedging instruments and their balance sheet location Asset Liability Asset Liability Commodity contracts (1) Other current assets / Other current liabilities $ — $ (7 ) $ — $ (7 ) Other noncurrent assets / Deferred credits and other liabilities — (58 ) — (54 ) Total $ — $ (65 ) $ — $ (61 ) (1) Includes embedded derivatives in commodity contracts as discussed above. |
Derivative Instruments, Gain (Loss) [Table Text Block] | The impact of MPLX’s derivative contracts not designated as hedging instruments and the location of gains and losses recognized on the Consolidated Statements of Income is summarized below: Three Months Ended June 30, Six Months Ended June 30, (In millions) 2019 2018 2019 2018 Product sales Realized (loss)/gain $ — $ (1 ) $ — $ (1 ) Unrealized (loss)/gain — — — 1 Product sales derivative (loss)/gain — (1 ) — — Purchased product costs Realized (loss)/gain (1 ) (3 ) (3 ) (6 ) Unrealized (loss)/gain — (8 ) (4 ) (2 ) Purchased product costs derivative (loss)/gain (1 ) (11 ) (7 ) (8 ) Cost of revenues Realized (loss)/gain — — — — Unrealized (loss)/gain — — — — Cost of revenues derivative (loss)/gain — — — — Total derivative (loss)/gain $ (1 ) $ (12 ) $ (7 ) $ (8 ) |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Debt Disclosure [Abstract] | |
Summary of Outstanding Borrowings | MPLX’s outstanding borrowings consist of the following: (In millions) June 30, 2019 December 31, 2018 MPLX LP: Bank revolving credit facility due 2022 $ 615 $ — 3.375% senior notes due March 2023 500 500 4.500% senior notes due July 2023 989 989 4.875% senior notes due December 2024 1,149 1,149 4.000% senior notes due February 2025 500 500 4.875% senior notes due June 2025 1,189 1,189 4.125% senior notes due March 2027 1,250 1,250 4.000% senior notes due March 2028 1,250 1,250 4.800% senior notes due February 2029 750 750 4.500% senior notes due April 2038 1,750 1,750 5.200% senior notes due March 2047 1,000 1,000 4.700% senior notes due April 2048 1,500 1,500 5.500% senior notes due February 2049 1,500 1,500 4.900% senior notes due April 2058 500 500 Consolidated subsidiaries: MarkWest - 4.500% - 4.875% senior notes, due 2023-2025 23 23 Financing lease obligations (1) 8 6 Total 14,473 13,856 Unamortized debt issuance costs (95 ) (97 ) Unamortized discount (342 ) (366 ) Amounts due within one year (6 ) (1 ) Total long-term debt due after one year $ 14,030 $ 13,392 (1) See Note 19 for lease information. |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue [Table Text Block] | The following tables represent a disaggregation of revenue for each reportable segment for the three and six months ended June 30, 2019 and 2018 : Three Months Ended June 30, 2019 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 33 $ 415 $ 448 Service revenue - related parties 620 — 620 Service revenue - product related — 26 26 Product sales (1) 2 166 168 Product sales - related parties 2 12 14 Total revenues from contracts with customers $ 657 $ 619 1,276 Non-ASC 606 revenue (2) 353 Total revenues and other income $ 1,629 Three Months Ended June 30, 2018 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 32 $ 378 $ 410 Service revenue - related parties 549 — 549 Service revenue - product related — 51 51 Product sales (1) 1 207 208 Product sales - related parties 2 11 13 Total revenues from contracts with customers $ 584 $ 647 1,231 Non-ASC 606 revenue (2) 347 Total revenues and other income $ 1,578 Six Months Ended June 30, 2019 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 67 $ 819 $ 886 Service revenue - related parties 1,198 — 1,198 Service revenue - product related — 60 60 Product sales (1) 3 367 370 Product sales - related parties 4 21 25 Total revenues from contracts with customers $ 1,272 $ 1,267 2,539 Non-ASC 606 revenue (2) 736 Total revenues and other income $ 3,275 Six Months Ended June 30, 2018 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 60 $ 732 $ 792 Service revenue - related parties 1,020 — 1,020 Service revenue - product related — 95 95 Product sales (1) 2 412 414 Product sales - related parties 3 14 17 Total revenues from contracts with customers $ 1,085 $ 1,253 2,338 Non-ASC 606 revenue (2) 660 Total revenues and other income $ 2,998 (1) G&P “Product sales” for the three and six months ended June 30, 2018 includes approximately $2 million and $1 million of revenue related to derivative gains and losses and mark-to-market adjustments, respectively. There were no adjustments for the three and six months ended June 30, 2019 . (2) Non-ASC 606 Revenue includes rental income, income from equity method investments, derivative gains and losses, mark-to-market adjustments, and other income. |
Contract with Customer, Asset and Liability [Table Text Block] | The table below reflects the changes in our contract balances for the period ended June 30, 2019 : (In millions) Balance at December 31, 2018 (1) Additions/ (Deletions) Revenue Recognized (2) Balance at June 30, 2019 Contract assets $ 4 $ 2 $ (1 ) $ 5 Deferred revenue 4 2 (1 ) 5 Deferred revenue - related parties 50 4 (17 ) 37 Long-term deferred revenue 10 3 — 13 Long-term deferred revenue - related parties $ 42 $ (2 ) $ — $ 40 (1) Balance represents ASC 606 portion of each respective line item. (2) No significant revenue was recognized related to past performance obligations in the current period. |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | As of June 30, 2019 , the amounts allocated to contract assets and contract liabilities on the Consolidated Balance Sheets are $93 million and are reflected in the amounts below. This will be recognized as revenue as the obligations are satisfied, which is expected to occur over the next 25 years . Further, MPLX does not disclose variable consideration due to volume variability in the table below. (In millions) 2019 $ 587 2020 1,181 2021 1,196 2022 1,181 2023 and thereafter 5,655 Total revenue on remaining performance obligations (1),(2),(3) $ 9,800 (1) All fixed consideration from contracts with customers is included in the amounts presented above. Variable consideration that is constrained or not required to be estimated as it reflects our efforts to perform is excluded. (2) Arrangements deemed implicit leases are included in “Rental income” and are excluded from this table. (3) Only minimum volume commitments that are deemed fixed are included in the table above. MPLX has various minimum volume commitments in processing arrangements that vary based on the actual Btu content of the gas received. These amounts are deemed variable consideration and are excluded from the table above. |
Supplemental Cash Flow Inform_2
Supplemental Cash Flow Information (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of Cash and Cash Equivalents [Table Text Block] | (In millions) June 30, 2019 December 31, 2018 Cash and cash equivalents $ 7 $ 68 Restricted cash (1) — 8 Cash, cash equivalents and restricted cash $ 7 $ 76 (1) The restricted cash balance is included within “Other current assets” on the Consolidated Balance Sheets. |
Summary of Supplemental Cash Flow Information [Table Text Block] | Six Months Ended June 30, (In millions) 2019 2018 Net cash provided by operating activities included: Interest paid (net of amounts capitalized) $ 284 $ 154 Income taxes paid — 1 Cash paid for amounts included in the measurement of lease liabilities Payments on operating leases 35 — Non-cash investing and financing activities: Net transfers of property, plant and equipment from materials and supplies inventories 1 2 ROU assets obtained in exchange for new operating lease obligations 6 — ROU assets obtained in exchange for new finance lease obligations $ 3 $ — |
Summary of Reconciliation of Additions to Property, Plant and Equipment to Total Capital Expenditures [Table Text Block] | The following is the change of additions to property, plant and equipment related to capital accruals: Six Months Ended June 30, (In millions) 2019 2018 (Decrease)/increase in capital accruals $ (85 ) $ 115 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table shows the changes in “Accumulated other comprehensive loss” by component during the period December 31, 2018 through June 30, 2019 . (In millions) Pension Other Total Balance at December 31, 2018 (1) $ (14 ) $ (2 ) $ (16 ) Other comprehensive income - remeasurements (2) — 1 1 Balance at June 30, 2019 (1) $ (14 ) $ (1 ) $ (15 ) The following table shows the changes in “Accumulated other comprehensive loss” by component during the period December 31, 2017 through June 30, 2018 . (In millions) Pension Benefits Other Post-Retirement Benefits Total Balance at December 31, 2017 (1) $ (13 ) $ (1 ) $ (14 ) Other comprehensive loss - remeasurements (2) (1 ) (1 ) (2 ) Balance at June 30, 2018 (1) $ (14 ) $ (2 ) $ (16 ) (1) These components of “Accumulated other comprehensive loss” are included in the computation of net periodic benefit cost by LOOP and Explorer and are therefore included on the Consolidated Statements of Income under the caption “Income/(loss) from equity method investments.” |
Equity-Based Compensation Plan
Equity-Based Compensation Plan (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Phantom Units | |
Equity Transactions And Share Based Compensation [Line Items] | |
Summary of Share-based Compensation, Restricted Stock Units Award Activity | The following is a summary of phantom unit award activity of MPLX LP common units for the six months ended June 30, 2019 : Number Weighted Outstanding at December 31, 2018 1,154,335 $ 34.34 Granted 197,345 33.08 Settled (377,559 ) 33.42 Forfeited (16,255 ) 34.82 Outstanding at June 30, 2019 957,866 $ 34.44 |
Performance Shares [Member] | |
Equity Transactions And Share Based Compensation [Line Items] | |
Summary of Share-based Compensation, Restricted Stock Units Award Activity | The following is a summary of the activity for performance unit awards to be settled in MPLX LP common units for the six months ended June 30, 2019 : Number of Outstanding at December 31, 2018 1,941,750 Granted 987,994 Settled (772,397 ) Forfeited — Outstanding at June 30, 2019 2,157,347 |
Leases Lessee Disclosure (Table
Leases Lessee Disclosure (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Lessee Disclosure [Abstract] | |
Lease, Cost [Table Text Block] | Under ASC 842, the components of lease costs were as follows: Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 (In millions) Related Party Third Party Related Party Third Party Components of lease costs: Operating lease costs $ 4 $ 14 $ 8 $ 28 Variable lease cost — 1 — 3 Short-term lease cost — 11 — 21 Total lease cost $ 4 $ 26 $ 8 $ 52 |
Supplemental Balance Sheet Disclosures [Text Block] | Supplemental balance sheet data related to leases were as follows: June 30, 2019 (In millions) Related Party Third Party Operating leases Assets Right of use assets $ 232 $ 255 Liabilities Operating lease liabilities 1 47 Long-term operating lease liabilities 231 209 Total operating lease liabilities $ 232 $ 256 Weighted average remaining lease term 47.67 years 6.74 years Weighted average discount rate 5.80 % 4.31 % Finance leases Assets Property, plant and equipment, gross $ 27 Accumulated depreciation 9 Property, plant and equipment, net 18 Liabilities Other current liabilities 6 Long-term debt 2 Total finance lease liabilities $ 8 Weighted average remaining lease term 16.82 years Weighted average discount rate 5.76 % |
Schedule of Future Minimum Lease Payments for Operating and Finance Leases [Table Text Block] | As of June 30, 2019 , maturities of lease liabilities for operating lease obligations and finance lease obligations having initial or remaining non-cancellable lease terms in excess of one year are as follows: (In millions) Related Party Operating Third Party Operating Finance 2019 $ 8 $ 30 $ 1 2020 14 55 6 2021 14 52 — 2022 14 47 — 2023 14 43 — 2024 and thereafter 619 68 7 Gross lease payments 683 295 14 Less: imputed interest 451 39 6 Total lease liabilities $ 232 $ 256 $ 8 Future minimum commitments as of December 31, 2018, for capital lease obligations and for operating lease obligations having initial or remaining non-cancellable lease terms in excess of one year are as follows: (In millions) Operating Capital Lease Obligations 2019 $ 73 $ 2 2020 70 5 2021 67 — 2022 64 — 2023 58 — 2024 and thereafter 719 — Total minimum lease payments $ 1,051 7 Less: imputed interest costs 1 Present value of net minimum lease payments $ 6 |
Leases Lessor Disclosure (Table
Leases Lessor Disclosure (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Lessor Disclosure [Abstract] | |
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block] | The following is a schedule of minimum future rental revenue on the non-cancellable operating leases as of June 30, 2019 : (In millions) Related Party Third Party Total 2019 $ 316 $ 90 $ 406 2020 633 178 811 2021 636 169 805 2022 635 166 801 2023 623 161 784 2024 and thereafter 2,409 1,264 3,673 Total minimum future rentals $ 5,252 $ 2,028 $ 7,280 |
Schedule of Property Subject to or Available for Operating Lease [Table Text Block] | The following schedule summarizes MPLX’s investment in assets held for operating lease by major classes as of June 30, 2019 and December 31, 2018 : (In millions) June 30, 2019 December 31, 2018 Natural gas gathering and NGL transportation pipelines and facilities $ 1,038 $ 964 Processing, fractionation and storage facilities 1,550 1,398 Pipelines and related assets 275 266 Barges and towing vessels 656 619 Terminals and related assets 1,185 1,178 Refinery related assets 949 938 Land, building, office equipment and other 207 162 Total 5,860 5,525 Less accumulated depreciation 2,230 2,038 Property, plant and equipment, net $ 3,630 $ 3,487 |
Schedule of Future Minimum Rental Payments Receivable for Operating Leases [Table Text Block] | The following is a schedule of minimum future rental revenue on the non-cancellable operating leases as of December 31, 2018: (In millions) Related Party Third Party Total 2019 $ 748 $ 160 $ 908 2020 750 159 909 2021 627 150 777 2022 627 148 775 2023 616 142 758 2024 and thereafter 2,321 1,111 3,432 Total minimum future rentals $ 5,689 $ 1,870 $ 7,559 |
Description of Business and Bas
Description of Business and Basis of Presentation - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2019 | |
Description Of Business And Basis Of Presentation [Line Items] | |
Number of reportable segments | 2 |
Accounting Standards Impact of
Accounting Standards Impact of Adoption of ASC 842 (Details) - Accounting Standards Update 2016-02 [Member] $ in Millions | Jan. 01, 2019USD ($) |
Operating Lease Right Of Use Asset [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 505 |
Operating Lease Liability [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 502 |
Acquisitions Andeavor Logistics
Acquisitions Andeavor Logistics (Details) - USD ($) $ in Millions | Jul. 30, 2019 | Oct. 01, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | ||||
Business Acquisition [Line Items] | |||||||||||
Total revenues from contracts with customers | $ 1,276 | $ 1,231 | $ 2,539 | $ 2,338 | |||||||
Goodwill | 2,581 | 2,581 | $ 2,586 | ||||||||
Net Income (Loss) Attributable to Parent | 482 | [1] | 453 | [1] | 985 | 874 | [1] | ||||
Acquisition Costs, Period Cost | 4 | 0 | 4 | 3 | |||||||
Andeavor Logistics [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Total revenues from contracts with customers | 2,224 | 2,122 | 4,461 | 4,059 | |||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | $ 83 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 241 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | 21 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | [2] | 59 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired, Equity Method Investments | 731 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 6,709 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 960 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | [3] | 31 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | 8,835 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable | 198 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | [4] | 188 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 4,916 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other | [5] | 75 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | 5,377 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 3,458 | ||||||||||
Goodwill | 7,428 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest | 10,886 | ||||||||||
Net Income (Loss) Attributable to Parent | $ 652 | $ 600 | 1,324 | $ 1,161 | |||||||
Acquisition Costs, Period Cost | $ 4 | ||||||||||
Senior Notes [Member] | Andeavor Logistics [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Long-term Debt, Gross | $ 1,100 | ||||||||||
Minimum [Member] | Andeavor Logistics [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Finite-Lived Intangible Asset, Useful Life | 2 years | ||||||||||
Maximum [Member] | Andeavor Logistics [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||||||||||
Subsequent Event | ANDX LP [Member] | Public | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Common Units Conversion Ratio - ANDX to MPLX | 1.135 | ||||||||||
Subsequent Event | ANDX LP [Member] | Nonpublic [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Common Units Conversion Ratio - ANDX to MPLX | 1.0328 | ||||||||||
Customer Contracts [Member] | Andeavor Logistics [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | $ 890 | ||||||||||
[1] | Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities. | ||||||||||
[2] | Includes both related party and third party other current assets. | ||||||||||
[3] | Includes both related party and third party other noncurrent assets as well as right of use assets associated with leases. | ||||||||||
[4] | Includes accrued liabilities, operating lease liabilities, long term debt due within one year, as well as related party and third party other current liabilities. | ||||||||||
[5] | Includes deferred revenue and deferred income taxes, as well as related party and third party other noncurrent liabilities. |
Acquisitions Mt. Airy Terminal
Acquisitions Mt. Airy Terminal (Details) bbl / d in Thousands, bbl in Millions, $ in Millions | Sep. 26, 2018USD ($)bbl / dbbl | Mar. 31, 2019USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Goodwill, Purchase Accounting Adjustments | $ (5) | |||
Goodwill | $ 2,581 | $ 2,586 | ||
Mt. Airy Terminal [Member] | ||||
Payments to Acquire Businesses, Gross | $ 451 | 446 | ||
Storage Capacity | bbl | 4 | |||
Barrels Handled | bbl / d | 120 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 336 | |||
Goodwill | $ 121 |
Acquisitions Refining Logistics
Acquisitions Refining Logistics & Fuels Distribution (Details) bbl in Millions, $ in Millions | Feb. 01, 2018USD ($)Tanksharesbbl | Mar. 31, 2018USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
Business Acquisition [Line Items] | ||||
Contributions from: | $ 1,046 | |||
Property, plant and equipment, net | $ 15,021 | $ 14,639 | ||
Goodwill | $ 2,581 | $ 2,586 | ||
Number of storage tanks | Tank | 619 | |||
Number of rail and truck racks | 32 | |||
Number of docks and gasoline blenders | 18 | |||
Refining Logistics & Fuels Distribution | ||||
Business Acquisition [Line Items] | ||||
Payments to Acquire Businesses, Gross | $ 4,100 | |||
Equity interest issued or issuable, fair value assigned | 4,300 | |||
Total consideration, fair value assigned | $ 8,400 | |||
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest | 2.00% | |||
Property, plant and equipment, net | $ 830 | |||
Refining Logistics [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | 85 | |||
Fuels Distribution [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $ 130 | |||
General Partner Common Units | Refining Logistics & Fuels Distribution | ||||
Business Acquisition [Line Items] | ||||
Units acquired | shares | 85,610,278 | |||
MPLX LP | Limited Partners Common Units | Refining Logistics & Fuels Distribution | ||||
Business Acquisition [Line Items] | ||||
Units acquired | shares | 111,611,111 | |||
MPLX LP | General Partner Units | Refining Logistics & Fuels Distribution | ||||
Business Acquisition [Line Items] | ||||
Units acquired | shares | 2,277,778 | |||
MPLX Logistics LLC | Limited Partners Common Units | Refining Logistics & Fuels Distribution | ||||
Business Acquisition [Line Items] | ||||
Units acquired | shares | 18,176,666 | |||
MPLX Holdings Inc | Limited Partners Common Units | Refining Logistics & Fuels Distribution | ||||
Business Acquisition [Line Items] | ||||
Units acquired | shares | 7,824,167 | |||
MPC | Refining Logistics & Fuels Distribution | ||||
Business Acquisition [Line Items] | ||||
Contributions from: | $ 23.7 | |||
Crude Oil [Member] | ||||
Business Acquisition [Line Items] | ||||
Storage Capacity | bbl | 56 |
Equity Method Investments - Sum
Equity Method Investments - Summary of Equity Method Investment Financial Information (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | ||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investments | $ 4,409 | $ 4,409 | $ 4,174 | |||||
Revenues and other income | 890 | $ 798 | ||||||
Costs and expenses | 382 | 432 | ||||||
Income (loss) from operations | 508 | 366 | ||||||
Net income (loss) | 456 | 337 | ||||||
Income from equity method investments | 73 | $ 50 | 143 | [1] | 111 | [1] | ||
Current assets | 557 | 557 | 614 | |||||
Noncurrent assets | 9,253 | 9,253 | 8,250 | |||||
Current liabilities | 388 | 388 | 401 | |||||
Noncurrent liabilities | $ 1,078 | $ 1,078 | 1,030 | |||||
Centrahoma Processing LLC [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, ownership percentage | 40.00% | 40.00% | ||||||
Equity method investments | $ 155 | $ 155 | 160 | |||||
Explorer | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, ownership percentage | 25.00% | 25.00% | ||||||
Equity method investments | $ 83 | $ 83 | 90 | |||||
Illinois Extension | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, ownership percentage | 35.00% | 35.00% | ||||||
Equity method investments | $ 278 | $ 278 | 275 | |||||
LOCAP | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, ownership percentage | 59.00% | 59.00% | ||||||
Equity method investments | $ 27 | $ 27 | 27 | |||||
LOOP | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, ownership percentage | 41.00% | 41.00% | ||||||
Equity method investments | $ 234 | $ 234 | 226 | |||||
MarEn Bakken Company LLC [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, ownership percentage | 25.00% | 25.00% | ||||||
Equity method investments | $ 487 | $ 487 | 498 | |||||
Jefferson Dry Gas | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, ownership percentage | 67.00% | 67.00% | ||||||
Equity method investments | $ 269 | $ 269 | 236 | |||||
MarkWest Utica EMG | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, ownership percentage | 56.00% | 56.00% | ||||||
Equity method investments | $ 2,026 | $ 2,026 | 2,039 | |||||
Sherwood Midstream | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, ownership percentage | 50.00% | 50.00% | ||||||
Equity method investments | $ 491 | $ 491 | 366 | |||||
Sherwood Midstream Holdings | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, ownership percentage | 78.00% | 78.00% | ||||||
Equity method investments | $ 162 | $ 162 | 157 | |||||
Other VIEs and Non-VIEs [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investments | 197 | 197 | 100 | |||||
Other VIEs [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Revenues and other income | 282 | 209 | ||||||
Costs and expenses | 146 | 127 | ||||||
Income (loss) from operations | 136 | 82 | ||||||
Net income (loss) | 117 | 81 | ||||||
Income from equity method investments | [1] | 48 | 26 | |||||
Current assets | 200 | 200 | 235 | |||||
Noncurrent assets | 4,597 | 4,597 | 3,535 | |||||
Current liabilities | 163 | 163 | 155 | |||||
Noncurrent liabilities | 233 | 233 | 189 | |||||
Non-VIEs [Member] | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Revenues and other income | 608 | [2] | 589 | |||||
Costs and expenses | 236 | [2] | 305 | |||||
Income (loss) from operations | 372 | [2] | 284 | |||||
Net income (loss) | 339 | [2] | 256 | |||||
Income from equity method investments | [1] | 95 | [2] | $ 85 | ||||
Current assets | 357 | 357 | 379 | |||||
Noncurrent assets | 4,656 | 4,656 | 4,715 | |||||
Current liabilities | 225 | 225 | 246 | |||||
Noncurrent liabilities | $ 845 | $ 845 | 841 | |||||
Ohio Gathering | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, ownership percentage | 34.00% | 34.00% | ||||||
Investment in subsidiary | $ 788 | $ 788 | 750 | |||||
Direct Ownership Interest [Member] | Sherwood Midstream Holdings | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Equity method investment, ownership percentage | 56.00% | 56.00% | ||||||
G&P | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Difference between carrying amount and underlying equity | $ 1,000 | $ 1,000 | 1,000 | |||||
Difference between carrying amount and underlying equity portion related to goodwill | 459 | 459 | 459 | |||||
L&S | ||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||
Difference between carrying amount and underlying equity | 113 | 113 | 114 | |||||
Difference between carrying amount and underlying equity portion related to goodwill | $ 39 | $ 39 | $ 39 | |||||
[1] | “ Income from equity method investments ” includes the impact of any basis differential amortization or accretion. | |||||||
[2] | Includes three months of activity related to Johnson County Terminal, we sold our investment in this joint venture on April 1, 2019. |
Investments & NCI Ohio Gatherin
Investments & NCI Ohio Gathering (Details) | Jun. 30, 2019 |
Ohio Gathering | |
Schedule of Equity Method Investments [Line Items] | |
Equity method investment, ownership percentage | 34.00% |
Investments & NCI Sherwood Mids
Investments & NCI Sherwood Midstream (Details) bbl / d in Thousands | Jun. 30, 2019bbl / d |
MarkWest Ohio Fractionation Company, L.L.C. [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Capacity | 20 |
Investments & NCI Sherwood Mi_2
Investments & NCI Sherwood Midstream Holdings (Details) - Sherwood Midstream Holdings - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2019 | |
Schedule of Equity Method Investments [Line Items] | ||
Ownership Interest In Assets Sold By Company In Affiliate | 6.00% | |
Proceeds From Sale Of Ownership Interest In Assets Sold By Company In Affiliate | $ 15 | |
Equity method investment, ownership percentage | 78.00% | |
Indirect Ownership Interest [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity method investment, ownership percentage | 22.20% |
Related Party Agreements and _3
Related Party Agreements and Transactions - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Related Party Transaction [Line Items] | ||
Related Party Transaction, Purchases from Related Party | $ 1 | $ 1 |
Revenue from Related Parties | $ 1 | $ 3 |
MarkWest Utica EMG | ||
Related Party Transaction [Line Items] | ||
Equity method investment, ownership percentage | 56.00% | |
Ohio Gathering | ||
Related Party Transaction [Line Items] | ||
Equity method investment, ownership percentage | 34.00% | |
Sherwood Midstream | ||
Related Party Transaction [Line Items] | ||
Equity method investment, ownership percentage | 50.00% | |
Sherwood Midstream Holdings | ||
Related Party Transaction [Line Items] | ||
Equity method investment, ownership percentage | 78.00% | |
Jefferson Dry Gas | ||
Related Party Transaction [Line Items] | ||
Equity method investment, ownership percentage | 67.00% |
Related Party Agreements and _4
Related Party Agreements and Transactions MPC Loan Agreement (Details) - Related Party Revolving Credit Agreement [Member] - MPC Investment [Member] - USD ($) $ in Millions | Apr. 27, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Apr. 26, 2018 | |
Related Party Transaction [Line Items] | |||||
Line of Credit Facility, Current Borrowing Capacity | $ 1,000 | $ 500 | |||
Line of Credit Facility, Expiration Date | Dec. 4, 2020 | ||||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 1.50 percent | ||||
Proceeds from Lines of Credit | $ 3,066 | $ 3,962 | |||
Line of Credit Facility, Interest Rate During Period | 3.845% | 3.473% | |||
Repayments of Lines of Credit | $ 3,022 | $ 4,347 | |||
Long-term Line of Credit | [1] | $ 44 | $ 0 | ||
[1] | Included in “Current liabilities - related parties” on the Consolidated Balance Sheets. |
Sales to Related Parties (Detai
Sales to Related Parties (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Related Party Transaction [Line Items] | |||||
Revenue from Related Parties | $ 1 | $ 3 | |||
Rental income - related parties | $ 158 | $ 190 | 351 | 335 | |
Other income - related parties | 27 | 24 | 53 | 47 | |
Related Party Transaction, Purchases from Related Party | 1 | 1 | |||
MPC | |||||
Related Party Transaction [Line Items] | |||||
Rental income - related parties | 158 | 190 | 351 | 335 | |
Other income - related parties | 10 | 10 | 20 | 20 | |
Product sales to MPC that net to zero | 118 | 112 | 204 | 191 | |
MarkWest Utica EMG | |||||
Related Party Transaction [Line Items] | |||||
Other income - related parties | 4 | 4 | 8 | 8 | |
Ohio Gathering | |||||
Related Party Transaction [Line Items] | |||||
Other income - related parties | 5 | 4 | 9 | 8 | |
Sherwood Midstream [Member] | |||||
Related Party Transaction [Line Items] | |||||
Other income - related parties | 3 | 2 | 7 | 5 | |
Jefferson Dry Gas | |||||
Related Party Transaction [Line Items] | |||||
Other income - related parties | 1 | 2 | 3 | 3 | |
Other Affiliates [Member] | |||||
Related Party Transaction [Line Items] | |||||
Other income - related parties | 4 | 2 | 6 | 3 | |
Product [Member] | |||||
Related Party Transaction [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 14 | 13 | 25 | 17 | |
Product [Member] | MPC | |||||
Related Party Transaction [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | [1] | 14 | 13 | 25 | 17 |
Service [Member] | |||||
Related Party Transaction [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 620 | 549 | 1,198 | 1,020 | |
Service [Member] | MPC | |||||
Related Party Transaction [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | $ 620 | $ 549 | $ 1,198 | $ 1,020 | |
[1] | There were additional product sales to MPC that net to zero within the consolidated financial statements as the transactions are recorded net due to the terms of the agreements under which such product was sold. For the three and six months ended June 30, 2019 , these sales totaled $118 million and $204 million , respectively. For the three and six months ended June 30, 2018 , these sales totaled $112 million and $191 million , respectively. |
Summary of Charges for Employee
Summary of Charges for Employee Services and Omnibus Agreements (Detail) - MPC - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Related Party Transaction [Line Items] | ||||
Labor and Related Expense | $ 284 | $ 267 | $ 549 | $ 484 |
Rental cost of sales - related parties | ||||
Related Party Transaction [Line Items] | ||||
Labor and Related Expense | 2 | 0 | 5 | 1 |
Purchases - related parties | ||||
Related Party Transaction [Line Items] | ||||
Labor and Related Expense | 239 | 223 | 451 | 400 |
General and administrative expenses | ||||
Related Party Transaction [Line Items] | ||||
Labor and Related Expense | 43 | 44 | 93 | 83 |
Construction-in-progress | ||||
Related Party Transaction [Line Items] | ||||
Property, Plant and Equipment, Additions | $ 38 | $ 41 | $ 79 | $ 63 |
Other Assets and Liabilities fr
Other Assets and Liabilities from Related Parties (Detail) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Related Party Transaction [Line Items] | ||
Current Assets, Related Parties | $ 333 | $ 290 |
Operating Lease, Right-of-Use Asset | 255 | 0 |
Other Assets, Related Parties, Noncurrent | 253 | 24 |
Operating Lease, Liability, Current | 47 | 0 |
Current Liabilities, Related Parties | 224 | 254 |
Operating Lease, Liability, Noncurrent | 209 | 0 |
Liabilities, Related Parties, Noncurrent | 271 | 43 |
MPC | ||
Related Party Transaction [Line Items] | ||
Receivables - related parties | 318 | 281 |
Prepaid Insurance | 5 | 1 |
Due from Related Parties, Noncurrent | 21 | 24 |
Operating Lease, Right-of-Use Asset | 232 | 0 |
Due to Related Parties, Current | 157 | 131 |
Operating Lease, Liability, Current | 1 | 0 |
Operating Lease, Liability, Noncurrent | 231 | 0 |
Sherwood Midstream [Member] | ||
Related Party Transaction [Line Items] | ||
Due to Related Parties, Current | 17 | 16 |
MarkWest Utica EMG | ||
Related Party Transaction [Line Items] | ||
Due to Related Parties, Current | 10 | 51 |
Other Affiliates [Member] | ||
Related Party Transaction [Line Items] | ||
Receivables - related parties | 10 | 8 |
Due to Related Parties, Current | 0 | 5 |
Minimum Committed Volume Contracts [Member] | MPC | ||
Related Party Transaction [Line Items] | ||
Deferred Revenue Related Parties | 31 | 44 |
Reimbursable Projects [Member] | MPC | ||
Related Party Transaction [Line Items] | ||
Deferred Revenue Related Parties | 8 | 7 |
Deferred Revenue, Noncurrent, Related Parties | $ 40 | $ 43 |
Net Income Per Limited Partne_4
Net Income Per Limited Partner Unit - Schedule of Distributions by Partner by Class (Detail) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||||||||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||||||
Net Income Per Share [Line Items] | ||||||||||
Potentially dilutive units | 1 | 1 | 1 | |||||||
Net income attributable to MPLX LP | $ 482 | [1] | $ 453 | [1] | $ 985 | $ 874 | [1] | |||
Less: Distribution declared | 734 | 517 | 1,000 | |||||||
Undistributed net income (loss) attributable to MPLX LP | (252) | (64) | (126) | |||||||
Undistributed net loss attributable to MPLX LP | (252) | (64) | (292) | (126) | ||||||
Contributions from: | $ 1,046 | |||||||||
Series A Preferred Stock [Member] | ||||||||||
Net Income Per Share [Line Items] | ||||||||||
Net income attributable to MPLX LP | [1] | 985 | ||||||||
Less: Distribution declared | 1,277 | |||||||||
Undistributed net income (loss) attributable to MPLX LP | (292) | |||||||||
Limited Partners Common Units | ||||||||||
Net Income Per Share [Line Items] | ||||||||||
Net income attributable to MPLX LP | [1] | 440 | 433 | 923 | 838 | |||||
Less: Distribution declared | [2] | 692 | [3] | 497 | 1,215 | [3] | 964 | |||
Undistributed net income (loss) attributable to MPLX LP | (252) | (64) | (292) | (126) | ||||||
MPC | ANDX LP [Member] | ||||||||||
Net Income Per Share [Line Items] | ||||||||||
Contributions from: | 12.5 | |||||||||
Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | ||||||||||
Net Income Per Share [Line Items] | ||||||||||
Net income attributable to MPLX LP | [1] | 21 | 20 | 41 | 36 | |||||
Less: Distribution declared | [2] | 21 | 20 | 41 | 36 | |||||
Undistributed net income (loss) attributable to MPLX LP | 0 | 0 | 0 | 0 | ||||||
Series B Preferred Stock [Member] | Series A Preferred Stock [Member] | ||||||||||
Net Income Per Share [Line Items] | ||||||||||
Net income attributable to MPLX LP | [1] | 21 | 21 | |||||||
Less: Distribution declared | [2] | 21 | $ 0 | 21 | $ 0 | |||||
Undistributed net income (loss) attributable to MPLX LP | $ 0 | $ 0 | ||||||||
[1] | Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities. | |||||||||
[2] | See Note 7 for distribution information. | |||||||||
[3] | The three and six months ended June 30, 2019 amounts are net of $12.5 million of waived distributions with respect to units held by MPC and its affiliates. Three Months Ended June 30, 2019 (In millions, except per unit data) Limited Partners’ Common Units Series A Preferred Units Series B Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit Net income attributable to MPLX LP: Distributions declared $ 692 $ 21 $ 21 $ 734 Undistributed net loss attributable to MPLX LP (252 ) — — (252 ) Net income attributable to MPLX LP (1) $ 440 $ 21 $ 21 $ 482 Weighted average units outstanding: Basic (2) 794 31 825 Diluted (2) 795 31 826 Net income attributable to MPLX LP per limited partner unit: Basic $ 0.56 Diluted $ 0.55 |
Net Income Per Limited Partne_5
Net Income Per Limited Partner Unit - Basic and Diluted Earnings Per Unit (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||||||
Net income (loss) attributable to MPLX LP: | |||||||||
Undistributed net income (loss) attributable to MPLX LP | $ (252) | $ (64) | $ (126) | ||||||
Net income attributable to MPLX LP | $ 482 | [1] | $ 453 | [1] | $ 985 | $ 874 | [1] | ||
Weighted average units outstanding: | |||||||||
Common - basic (in shares) | 825 | [2] | 825 | 759 | |||||
Common - diluted (in shares) | 826 | [2] | 825 | 759 | |||||
Limited Partners Common Units | |||||||||
Net income (loss) attributable to MPLX LP: | |||||||||
Undistributed net income (loss) attributable to MPLX LP | $ (252) | $ (64) | (292) | $ (126) | |||||
Net income attributable to MPLX LP | [1] | $ 440 | $ 433 | $ 923 | $ 838 | ||||
Weighted average units outstanding: | |||||||||
Common - basic (in shares) | 794 | [2] | 794 | 794 | [3] | 728 | |||
Common - diluted (in shares) | 795 | [2] | 794 | 795 | [3] | 728 | |||
Net income attributable to MPLX LP per limited partner unit: | |||||||||
Basic (in USD per unit) | $ 0.56 | $ 0.55 | $ 1.16 | $ 1.15 | |||||
Diluted (in USD per unit) | $ 0.55 | $ 0.55 | $ 1.16 | $ 1.15 | |||||
Series A Preferred Stock [Member] | |||||||||
Net income (loss) attributable to MPLX LP: | |||||||||
Undistributed net income (loss) attributable to MPLX LP | $ (292) | ||||||||
Net income attributable to MPLX LP | [1] | $ 985 | |||||||
Weighted average units outstanding: | |||||||||
Common - basic (in shares) | [3] | 825 | |||||||
Common - diluted (in shares) | [3] | 826 | |||||||
Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | |||||||||
Net income (loss) attributable to MPLX LP: | |||||||||
Undistributed net income (loss) attributable to MPLX LP | $ 0 | $ 0 | $ 0 | $ 0 | |||||
Net income attributable to MPLX LP | [1] | $ 21 | $ 20 | $ 41 | $ 36 | ||||
Weighted average units outstanding: | |||||||||
Common - basic (in shares) | 31 | [2] | 31 | 31 | [2] | 31 | |||
Common - diluted (in shares) | 31 | [2] | 31 | 31 | [2] | 31 | |||
Series B Preferred Stock [Member] | Series A Preferred Stock [Member] | |||||||||
Net income (loss) attributable to MPLX LP: | |||||||||
Undistributed net income (loss) attributable to MPLX LP | $ 0 | $ 0 | |||||||
Net income attributable to MPLX LP | [1] | $ 21 | $ 21 | ||||||
[1] | Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the current period distribution priorities. | ||||||||
[2] | The Series B preferred units and the MPLX common units issued in connection with the merger were not outstanding during the three months ended June 30, 2019. See Notes 3 and 7 for additional information about the treatment of these units. | ||||||||
[3] | The Series B preferred units and the MPLX common units issued in connection with the merger were not outstanding during the six months ended June 30, 2019. See Notes 3 and 7 for additional information about the treatment of these units. |
Equity - Changes in Partners Ca
Equity - Changes in Partners Capital, Unit Rollforward (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jul. 30, 2019 | Dec. 31, 2018 | |
Stockholders Equity [Line Items] | |||||||
Document Period End Date | Jun. 30, 2019 | ||||||
Partners, Total Subsequent Distribution Amount | $ 734,000,000 | $ 517,000,000 | $ 1,277,000,000 | $ 1,000,000,000 | |||
Contributions from: | $ 1,046,000,000 | ||||||
Partners, Total Subsequent Distribution Amount Excluding ANDX | $ 550,000,000 | $ 1,093 | |||||
Limited Partners Common Units | |||||||
Stockholders Equity [Line Items] | |||||||
Balance at December 31, 2018 | 794,089,518 | ||||||
Unit-based compensation awards | 260,101 | ||||||
Balance at June 30, 2019 | 794,349,619 | 794,349,619 | |||||
Subsequent Event | Andeavor Logistics [Member] | |||||||
Stockholders Equity [Line Items] | |||||||
Preferred Units, Outstanding | 600,000 | ||||||
Limited Partners Common Units | |||||||
Stockholders Equity [Line Items] | |||||||
Partners, Total Subsequent Distribution Amount | $ 692,000,000 | $ 497,000,000 | $ 1,215,000,000 | $ 964,000,000 | |||
Limited Partners Common Units | ANDX LP [Member] | |||||||
Stockholders Equity [Line Items] | |||||||
Partners, Total Subsequent Distribution Amount | $ 163,000,000 | ||||||
Series B Preferred Stock [Member] | Subsequent Event | MPLX LP | |||||||
Stockholders Equity [Line Items] | |||||||
Preferred Units, Outstanding | 600,000 | ||||||
MPC | Limited Partners Common Units | |||||||
Stockholders Equity [Line Items] | |||||||
Units issued | 505,000,000 | 505,000,000 | 505,000,000 | ||||
MPC | Subsequent Event | Limited Partners Common Units | |||||||
Stockholders Equity [Line Items] | |||||||
Units issued | 161,000,000 | ||||||
MPC | ANDX LP [Member] | |||||||
Stockholders Equity [Line Items] | |||||||
Contributions from: | $ 12,500,000 | ||||||
Public | Limited Partners Common Units | |||||||
Stockholders Equity [Line Items] | |||||||
Units issued | 290,000,000 | 290,000,000 | 289,000,000 | ||||
Public | Subsequent Event | Limited Partners Common Units | |||||||
Stockholders Equity [Line Items] | |||||||
Units issued | 102,000,000 |
Equity - Cash Distributions (De
Equity - Cash Distributions (Details) - USD ($) $ / shares in Units, $ in Millions | Jul. 22, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ||||||||||
Distributions declared (including IDRs) | $ 734 | $ 517 | $ 1,000 | |||||||
Partners, Total Subsequent Distribution Amount | 734 | 517 | $ 1,277 | 1,000 | ||||||
Limited Partners Common Units | ||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ||||||||||
Partners, Total Subsequent Distribution Amount | 692 | 497 | 1,215 | 964 | ||||||
Preferred Units | ||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ||||||||||
Partners, Total Subsequent Distribution Amount | 21 | 20 | 41 | 36 | ||||||
Preferred Class B [Member] | ||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ||||||||||
Partners, Total Subsequent Distribution Amount | 21 | 0 | 21 | 0 | ||||||
Subsequent Event | ||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ||||||||||
Declaration date | Jul. 22, 2019 | |||||||||
Cash distributions declared per limited partner common unit | $ 0.6675 | |||||||||
Distribution date | Aug. 14, 2019 | |||||||||
Date of record | Aug. 5, 2019 | |||||||||
Series A Preferred Stock [Member] | ||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ||||||||||
Distributions declared (including IDRs) | 1,277 | |||||||||
Series A Preferred Stock [Member] | Subsequent Event | Preferred Class B [Member] | ||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ||||||||||
Distributions declared (including IDRs) | $ 21 | |||||||||
Cash distributions declared per limited partner common unit | $ 68.75 | |||||||||
Limited Partners Common Units | ||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ||||||||||
Distributions declared (including IDRs) | [1] | $ 692 | [2] | $ 497 | $ 1,215 | [2] | $ 964 | |||
Cash distributions declared per limited partner common unit | $ 0.6675 | $ 0.6575 | $ 0.6275 | $ 0.6175 | ||||||
Limited Partners Common Units | Subsequent Event | ||||||||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | ||||||||||
Distributions declared (including IDRs) | $ 692 | |||||||||
[1] | See Note 7 for distribution information. | |||||||||
[2] | The three and six months ended June 30, 2019 amounts are net of $12.5 million of waived distributions with respect to units held by MPC and its affiliates. Three Months Ended June 30, 2019 (In millions, except per unit data) Limited Partners’ Common Units Series A Preferred Units Series B Preferred Units Total Basic and diluted net income attributable to MPLX LP per unit Net income attributable to MPLX LP: Distributions declared $ 692 $ 21 $ 21 $ 734 Undistributed net loss attributable to MPLX LP (252 ) — — (252 ) Net income attributable to MPLX LP (1) $ 440 $ 21 $ 21 $ 482 Weighted average units outstanding: Basic (2) 794 31 825 Diluted (2) 795 31 826 Net income attributable to MPLX LP per limited partner unit: Basic $ 0.56 Diluted $ 0.55 |
Redeemable Preferred Units (Nar
Redeemable Preferred Units (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | Jul. 22, 2019 | May 13, 2016 |
Series A Convertible Preferred Units | ||
Redeemable Noncontrolling Interest [Line Items] | ||
Issuance of preferred units | 30.8 | |
Dividend rate, percentage | 6.50% | |
Price per share | $ 32.50 | |
Issuance of redeemable preferred units | $ 984 | |
Dividend rate, per-dollar-amount | $ 0.528125 | |
Description | The holders may convert their Series A preferred units into common units at any time after the third anniversary of the issuance date or prior to liquidation, dissolution or winding up of the Partnership, in full or in part, subject to minimum conversion amounts and conditions. After the fourth anniversary of the issuance date, MPLX may convert the Series A preferred units into common units at any time, in whole or in part, subject to certain minimum conversion amounts and conditions, if the closing price of MPLX LP common units is greater than $48.75 for the 20-day trading period immediately preceding the conversion notice date. The conversion rate for the Series A preferred units shall be the quotient of (a) the sum of (i) $32.50, plus (ii) any unpaid cash distributions on the applicable preferred unit, divided by (b) $32.50, subject to adjustment for unit distributions, unit splits and similar transactions. The holders of the Series A preferred units are entitled to vote on an as-converted basis with the common unitholders and have certain other class voting rights with respect to any amendment to the MPLX partnership agreement that would adversely affect any rights, preferences or privileges of the preferred units. In addition, upon certain events involving a change of control, the holders of preferred units may elect, among other potential elections, to convert their Series A preferred units to common units at the then change of control conversion rate. | |
Subsequent Event | ||
Redeemable Noncontrolling Interest [Line Items] | ||
Distribution Made to Limited Partner, Declaration Date | Jul. 22, 2019 | |
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ 0.6675 |
Redeemable Preferred Units (Rol
Redeemable Preferred Units (Rollforward of Redeemable Preferred Units) (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Redeemable Noncontrolling Interest [Line Items] | ||
Balance at December 31, 2018 | $ 1,004 | |
Distributions to unitholders and general partner | (1,038) | $ (814) |
Balance at June 30, 2019 | 1,005 | |
Series A Convertible Preferred Units | ||
Redeemable Noncontrolling Interest [Line Items] | ||
Balance at December 31, 2018 | 1,004 | |
Net income allocated | 41 | |
Distributions to unitholders and general partner | (40) | |
Balance at June 30, 2019 | $ 1,005 |
Segment Information (Details)
Segment Information (Details) | 6 Months Ended |
Jun. 30, 2019 | |
Segment Reporting [Abstract] | |
Number of reportable segments | 2 |
Segment Information - Segment A
Segment Information - Segment Adjusted EBITDA (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | ||||
Segment Reporting Information [Line Items] | ||||||||
Equity method investments | $ 4,409 | $ 4,409 | $ 4,174 | |||||
Depreciation and amortization | [1] | 214 | $ 188 | 425 | $ 364 | |||
Total revenues from contracts with customers | 1,276 | 1,231 | 2,539 | 2,338 | ||||
Rental income | 90 | 84 | 184 | 163 | ||||
Income from equity method investments | 73 | 50 | 143 | [2] | 111 | [2] | ||
Other income | 5 | 1 | 5 | 5 | ||||
Total segment revenues and other income | 1,629 | 1,578 | 3,275 | 2,998 | ||||
L&S | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Depreciation and amortization | (70) | (61) | (140) | (109) | ||||
Total revenues from contracts with customers | 657 | 584 | 1,272 | 1,085 | ||||
G&P | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Depreciation and amortization | (144) | (127) | (285) | (255) | ||||
Total revenues from contracts with customers | 619 | 647 | 1,267 | 1,253 | ||||
Operating Segments | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Adjusted EBITDA | 920 | 867 | 1,850 | 1,627 | ||||
Operating Segments | L&S | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Equity method investments | 1,170 | 1,170 | 1,120 | |||||
Rental income | 164 | 190 | 363 | 335 | ||||
Income from equity method investments | 47 | 36 | 88 | 80 | ||||
Other income | 17 | 12 | 28 | 24 | ||||
Total segment revenues and other income | [3] | 885 | 822 | 1,751 | 1,524 | |||
Adjusted EBITDA | [4] | 569 | 526 | 1,128 | 963 | |||
Capital Expenditure | 19 | 25 | 32 | 47 | ||||
Growth Capital Expenditures | 115 | 93 | 218 | 247 | ||||
Operating Segments | G&P | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Equity method investments | 3,240 | 3,240 | $ 3,050 | |||||
Rental income | 84 | 84 | 172 | 163 | ||||
Income from equity method investments | 26 | 14 | 55 | 31 | ||||
Other income | 15 | 13 | 30 | 28 | ||||
Total segment revenues and other income | [3] | 744 | 756 | 1,524 | 1,474 | |||
Adjusted EBITDA | [4] | 351 | 341 | 722 | 664 | |||
Capital Expenditure | 15 | 8 | 21 | 11 | ||||
Growth Capital Expenditures | 268 | 406 | 529 | 677 | ||||
Service [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 448 | 410 | 886 | 792 | ||||
Service [Member] | L&S | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 33 | 32 | 67 | 60 | ||||
Service [Member] | G&P | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 415 | 378 | 819 | 732 | ||||
Service [Member] | Operating Segments | L&S | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 653 | 581 | 1,265 | 1,080 | ||||
Service [Member] | Operating Segments | G&P | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 415 | 378 | 819 | 732 | ||||
Product [Member] | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 168 | 206 | 370 | 413 | ||||
Product [Member] | Operating Segments | L&S | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 4 | 3 | 7 | 5 | ||||
Product [Member] | Operating Segments | G&P | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total revenues from contracts with customers | 204 | 267 | 448 | 520 | ||||
Third Party [Member] | L&S | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total segment revenues and other income | 94 | 71 | 176 | 145 | ||||
Third Party [Member] | G&P | ||||||||
Segment Reporting Information [Line Items] | ||||||||
Total segment revenues and other income | $ 716 | $ 731 | $ 1,472 | $ 1,434 | ||||
[1] | Depreciation and amortization attributable to L&S was $70 million and $140 million for the three and six months ended June 30, 2019 , respectively, and $61 million and $109 million for the three and six months ended June 30, 2018 , respectively. Depreciation and amortization attributable to G&P was $144 million and $285 million for the three and six months ended June 30, 2019 , respectively, and $127 million and $255 million for the three and six months ended June 30, 2018 | |||||||
[2] | “ Income from equity method investments ” includes the impact of any basis differential amortization or accretion. | |||||||
[3] | Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $94 million and $176 million for the three and six months ended June 30, 2019 , respectively, and $71 million and $145 million for the three and six months ended June 30, 2018 , respectively. Third party revenues for the G&P segment were $716 million and $1,472 million for the three and six months ended June 30, 2019 , respectively, and $731 million and $1,434 million for the three and six months ended June 30, 2018 , respectively. | |||||||
[4] | ee below for the reconciliation from Segment Adjusted EBITDA to “Net income.” |
Segment Information - Assets by
Segment Information - Assets by Segment (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Cash and cash equivalents | $ 7 | $ 68 | |
Assets | 23,746 | 22,779 | |
Equity method investments | 4,409 | 4,174 | |
L&S | Operating Segments | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Assets | [1] | 7,083 | 6,566 |
Equity method investments | 1,170 | 1,120 | |
G&P | Operating Segments | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | |||
Assets | [1] | 16,656 | 16,145 |
Equity method investments | $ 3,240 | $ 3,050 | |
[1] | Equity method investments included in L&S assets were $1.17 billion at June 30, 2019 and $1.12 billion at December 31, 2018 . Equity method investments included in G&P assets were $3.24 billion at June 30, 2019 and $3.05 billion at December 31, 2018 . |
Segment Information - Reconcili
Segment Information - Reconciliation to Net Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||
Depreciation and amortization | [1] | $ (214) | $ (188) | $ (425) | $ (364) | ||
Income Tax Expense (Benefit) | (1) | (1) | 1 | (5) | |||
Amortization of Debt Issuance Costs | (26) | (30) | |||||
Share-based Payment Arrangement, Expense | (3) | (5) | (9) | (9) | |||
Interest and Other Financial Costs | (157) | (136) | (315) | (250) | |||
Income from equity method investments | 73 | 50 | 143 | [2] | 111 | [2] | |
Proceeds from Equity Method Investment, Distribution, Return of Capital | (220) | (175) | |||||
Acquisition Costs, Period Cost | (4) | 0 | (4) | (3) | |||
Net income | 488 | 456 | 997 | 879 | |||
Operating Segments | |||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||
Adjusted EBITDA | 920 | 867 | 1,850 | 1,627 | |||
Amortization of Debt Issuance Costs | (13) | (15) | (26) | (31) | |||
Segment Reconciling Items [Member] | |||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||
Proceeds from Equity Method Investment, Distribution, Return of Capital | (120) | (112) | (228) | (202) | |||
Adjusted EBITDA attributable to noncontrolling interests | 7 | 4 | 14 | 6 | |||
L&S | |||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||
Depreciation and amortization | 70 | 61 | 140 | 109 | |||
L&S | Operating Segments | |||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||
Adjusted EBITDA | [3] | 569 | 526 | 1,128 | 963 | ||
Income from equity method investments | 47 | 36 | 88 | 80 | |||
G&P | |||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||
Depreciation and amortization | 144 | 127 | 285 | 255 | |||
G&P | Operating Segments | |||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||
Adjusted EBITDA | [3] | 351 | 341 | 722 | 664 | ||
Income from equity method investments | 26 | 14 | 55 | 31 | |||
Not Designated as Hedging Instrument [Member] | |||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | [4] | $ 0 | $ (8) | $ (4) | $ (1) | ||
[1] | Depreciation and amortization attributable to L&S was $70 million and $140 million for the three and six months ended June 30, 2019 , respectively, and $61 million and $109 million for the three and six months ended June 30, 2018 , respectively. Depreciation and amortization attributable to G&P was $144 million and $285 million for the three and six months ended June 30, 2019 , respectively, and $127 million and $255 million for the three and six months ended June 30, 2018 | ||||||
[2] | “ Income from equity method investments ” includes the impact of any basis differential amortization or accretion. | ||||||
[3] | ee below for the reconciliation from Segment Adjusted EBITDA to “Net income.” | ||||||
[4] | MPLX makes a distinction between realized and unrealized gains and losses on derivatives. During the period when a derivative contract is outstanding, changes in the fair value of the derivative are recorded as an unrealized gain or loss. When a derivative contract matures or is settled, the previously recorded unrealized gain or loss is reversed and the realized gain or loss of the contract is recorded. |
Inventories (Summary of Invento
Inventories (Summary of Inventories) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Inventory Disclosure [Abstract] | ||
NGLs | $ 5 | $ 9 |
Line fill | 7 | 9 |
Spare parts, materials and supplies | 65 | 59 |
Total inventories | $ 77 | $ 77 |
Property, Plant and Equipment_2
Property, Plant and Equipment (Summary of Property, Plant and Equipment) (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 19,086 | $ 18,316 |
Less accumulated depreciation | 4,065 | 3,677 |
Property, plant and equipment, net | 15,021 | 14,639 |
Natural gas gathering and NGL transportation pipelines and facilities | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 6,211 | 5,926 |
Processing, fractionation and storage facilities | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 5,365 | 5,336 |
Pipelines and related assets | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 2,630 | 2,560 |
Barges and towing vessels | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 657 | 620 |
Terminals and related assets | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 1,185 | 1,178 |
Refineries and related assets | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 949 | 938 |
Land, building, office equipment and other | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 1,005 | 957 |
Construction-in-progress | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | $ 1,084 | $ 801 |
Fair Value Measurements - Recur
Fair Value Measurements - Recurring - Financial Instruments by Valuation Hierarchy (Details) - Fair Value, Recurring [Member] - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | $ 0 | $ 0 |
Derivative liability | 65 | 61 |
Embedded derivatives in commodity contracts | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | 0 | 0 |
Derivative liability | $ 65 | $ 61 |
Fair Value Measurments - Recurr
Fair Value Measurments - Recurring - Significant Unobservable Inputs in Level 3 Valuation (Details) - Fair Value, Inputs, Level 3 [Member] | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |
Embedded Derivative Renewal Term | 5 years |
Embedded derivatives in commodity contracts | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |
Fair Value Inputs Probability of Renewal | 92.00% |
Fair Value Inputs Probability of Renewal Second Term | 82.00% |
Minimum [Member] | Commodity contracts | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |
Fair Value Inputs Forward Commodity Price | $ 0.46 |
Maximum [Member] | Commodity contracts | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |
Fair Value Inputs Forward Commodity Price | $ 1.14 |
Fair Value Measurements - Rec_2
Fair Value Measurements - Recurring - Changes in Level 3 Measurements (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Commodity Derivative Contracts (net) | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair value at beginning of period | $ 0 | $ (2) | $ 0 | $ (2) | |
Total gains (losses) (realized and unrealized) included in earnings | [1] | 0 | (1) | 0 | (1) |
Settlements | 0 | 1 | 0 | 1 | |
Fair value at end of period | 0 | (2) | 0 | (2) | |
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized losses relating to liabilities still held at end of period | 0 | (1) | 0 | 0 | |
Embedded Derivatives in Commodity Contracts (net) | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||
Fair value at beginning of period | (65) | (58) | (61) | (64) | |
Total gains (losses) (realized and unrealized) included in earnings | [1] | (1) | (11) | (7) | (8) |
Settlements | 1 | 3 | 3 | 6 | |
Fair value at end of period | (65) | (66) | (65) | (66) | |
The amount of total gains (losses) for the period included in earnings attributable to the change in unrealized losses relating to liabilities still held at end of period | $ (2) | $ (10) | $ (5) | $ (5) | |
[1] | Gains and losses on commodity derivative contracts classified as Level 3 are recorded in “Product sales” on the Consolidated Statements of Income. Gains and losses on derivatives embedded in commodity contracts are recorded in “Purchased product costs” and “Cost of revenues” on the Consolidated Statements of Income. |
Fair Value Measurements - Repor
Fair Value Measurements - Reported (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 14,123 | $ 13,484 |
SMR liability | 83 | 86 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 15,282 | 13,169 |
SMR liability | $ 94 | $ 92 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Embedded Derivatives in Commodity Contracts (Details) - Natural Gas [Member] - Embedded derivatives in commodity contracts $ in Millions | 6 Months Ended | |
Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
Derivative [Line Items] | ||
Number of Renewals | 2 | |
Embedded Derivative Renewal Term | 5 years | |
Embedded Derivative Fair Value of Embedded Derivative Liability Including Inception Value Allocable to Host Contract | $ 65 | $ 61 |
Derivative Financial Instrume_4
Derivative Financial Instruments - Derivatives Balance Sheet Location (Details) - Not Designated as Hedging Instrument [Member] - Commodity contracts - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | |
Derivatives, Fair Value [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | $ 0 | $ 0 |
Derivative Liability, Fair Value, Gross Liability | [1] | 65 | 61 |
Other current assets [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 0 | 0 |
Other current liabilities [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability | [1] | 7 | 7 |
Other noncurrent assets [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | 0 | 0 |
Other Noncurrent Liabilities [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Derivative Liability, Fair Value, Gross Liability | [1] | $ 58 | $ 54 |
[1] | Includes embedded derivatives in commodity contracts as discussed above. |
Derivatives Financial Instrumen
Derivatives Financial Instruments - Derivative Income Statement Location (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Derivative [Line Items] | |||||
Total gain (loss) | $ (1) | $ (12) | $ (7) | $ (8) | |
Product sales | |||||
Derivative [Line Items] | |||||
Realized gain (loss) | 0 | (1) | 0 | (1) | |
Total gain (loss) | 0 | (1) | 0 | 0 | |
Purchased product costs | |||||
Derivative [Line Items] | |||||
Realized gain (loss) | (1) | (3) | (3) | (6) | |
Total gain (loss) | (1) | (11) | (7) | (8) | |
Cost of revenues | |||||
Derivative [Line Items] | |||||
Realized gain (loss) | 0 | 0 | 0 | 0 | |
Total gain (loss) | 0 | 0 | 0 | 0 | |
Not Designated as Hedging Instrument [Member] | |||||
Derivative [Line Items] | |||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | [1] | 0 | (8) | (4) | (1) |
Not Designated as Hedging Instrument [Member] | Product sales | |||||
Derivative [Line Items] | |||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | 0 | 0 | 0 | 1 | |
Not Designated as Hedging Instrument [Member] | Purchased product costs | |||||
Derivative [Line Items] | |||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | 0 | (8) | (4) | (2) | |
Not Designated as Hedging Instrument [Member] | Cost of revenues | |||||
Derivative [Line Items] | |||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | $ 0 | $ 0 | $ 0 | $ 0 | |
[1] | MPLX makes a distinction between realized and unrealized gains and losses on derivatives. During the period when a derivative contract is outstanding, changes in the fair value of the derivative are recorded as an unrealized gain or loss. When a derivative contract matures or is settled, the previously recorded unrealized gain or loss is reversed and the realized gain or loss of the contract is recorded. |
Debt - Summary of Outstanding B
Debt - Summary of Outstanding Borrowings (Detail) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | Nov. 15, 2018 | Feb. 08, 2018 |
Debt Instrument [Line Items] | ||||
Financing lease obligations(1) | $ 8 | |||
Total | 14,473 | $ 13,856 | ||
Unamortized debt issuance costs | (95) | (97) | ||
Unamortized discount | (342) | (366) | ||
Amounts due within one year | (6) | (1) | ||
Total long-term debt due after one year | 14,030 | 13,392 | ||
Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | $ 2,250 | $ 5,500 | ||
Finance Lease [Member] | Marathon Pipe Line LLC [Member] | ||||
Debt Instrument [Line Items] | ||||
Financing lease obligations(1) | 8 | 6 | ||
Bank revolving credit facility due 2022 | Line of Credit [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 615 | 0 | ||
3.375% senior notes due March 2023 | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 500 | 500 | 500 | |
4.500% senior notes due July 2023 | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 989 | 989 | ||
4.875% senior notes due December 2024 | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 1,149 | 1,149 | ||
4.000% senior notes due February 2025 | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 500 | 500 | ||
4.875% senior notes due June 2025 | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 1,189 | 1,189 | ||
4.125% senior notes due March 2027 | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 1,250 | 1,250 | ||
4.000% senior notes due March 2028 | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 1,250 | 1,250 | 1,250 | |
Senior Notes Due February 2029 [Member] | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 750 | 750 | 750 | |
4.500% senior notes due April 2038 | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 1,750 | 1,750 | 1,750 | |
5.200% senior notes due March 2047 | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 1,000 | 1,000 | ||
4.700% senior notes due April 2048 | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 1,500 | 1,500 | 1,500 | |
Senior Notes Due February 2049 [Member] | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 1,500 | 1,500 | $ 1,500 | |
4.900% senior notes due April 2058 | Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 500 | 500 | $ 500 | |
MarkWest - 4.500% - 4.875% senior notes, due 2023-2025 | Senior Notes [Member] | MarkWest [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | $ 23 | $ 23 |
Debt Debt - Summary of Outstand
Debt Debt - Summary of Outstanding Borrowings - Interest Rates and Table Due Dates (Details) | 6 Months Ended | ||
Jun. 30, 2019 | Nov. 15, 2018 | Feb. 08, 2018 | |
MarkWest [Member] | Senior Notes [Member] | 4.500% senior notes due July 2023 | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | ||
Debt Instrument, Maturity Date | Jul. 15, 2023 | ||
MarkWest [Member] | Senior Notes [Member] | 4.875% senior notes due December 2024 | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | ||
Debt Instrument, Maturity Date | Dec. 1, 2024 | ||
MarkWest [Member] | Senior Notes [Member] | 4.875% senior notes due June 2025 | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | ||
Debt Instrument, Maturity Date | Jun. 1, 2025 | ||
MPLX LP | Line of Credit [Member] | Bank revolving credit facility due 2022 | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Expiration Date | Jul. 21, 2022 | ||
MPLX LP | Senior Notes [Member] | Senior Notes Due March 2023 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | 3.375% | |
Debt Instrument, Maturity Date | Mar. 15, 2023 | ||
MPLX LP | Senior Notes [Member] | 4.500% senior notes due July 2023 | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | ||
Debt Instrument, Maturity Date | Jul. 15, 2023 | ||
MPLX LP | Senior Notes [Member] | 4.875% senior notes due December 2024 | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | ||
Debt Instrument, Maturity Date | Dec. 1, 2024 | ||
MPLX LP | Senior Notes [Member] | 4.000% senior notes due February 2025 | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | ||
Debt Instrument, Maturity Date | Feb. 15, 2025 | ||
MPLX LP | Senior Notes [Member] | 4.875% senior notes due June 2025 | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.875% | ||
Debt Instrument, Maturity Date | Jun. 1, 2025 | ||
MPLX LP | Senior Notes [Member] | 4.125% senior notes due March 2027 | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.125% | ||
Debt Instrument, Maturity Date | Mar. 1, 2027 | ||
MPLX LP | Senior Notes [Member] | Senior Notes Due March 2028 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 4.00% | |
Debt Instrument, Maturity Date | Mar. 15, 2028 | ||
MPLX LP | Senior Notes [Member] | Senior Notes Due April 2038 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | 4.50% | |
Debt Instrument, Maturity Date | Apr. 15, 2038 | ||
MPLX LP | Senior Notes [Member] | 5.200% senior notes due March 2047 | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.20% | ||
Debt Instrument, Maturity Date | Mar. 1, 2047 | ||
MPLX LP | Senior Notes [Member] | Senior Notes Due April 2048 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.70% | 4.70% | |
Debt Instrument, Maturity Date | Apr. 15, 2048 | ||
MPLX LP | Senior Notes [Member] | Senior Notes Due February 2049 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | 5.50% | |
Debt Instrument, Maturity Date | Feb. 15, 2049 | ||
MPLX LP | Senior Notes [Member] | Senior Notes Due April 2058 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.90% | 4.90% | |
Debt Instrument, Maturity Date | Apr. 15, 2058 | ||
Marathon Pipe Line LLC [Member] | Finance Lease [Member] | |||
Debt Instrument [Line Items] | |||
Capital Lease Due Date Year | 2020 |
Debt - Additional Information (
Debt - Additional Information (Detail) - USD ($) $ in Millions | Feb. 08, 2018 | Jul. 21, 2017 | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 10, 2018 | Nov. 15, 2018 |
Debt Instrument [Line Items] | ||||||
Extinguishment of Debt, Gain (Loss), Net of Tax | $ (46) | |||||
Bank revolving credit facility due 2022 | MPLX LP | ||||||
Debt Instrument [Line Items] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,250 | |||||
Debt Instrument, Term | 5 years | |||||
Proceeds from Lines of Credit | $ 2,275 | |||||
Debt Instrument, Interest Rate, Effective Percentage | 3.802% | |||||
Repayments of Long-term Lines of Credit | $ 1,660 | |||||
Letters of Credit Outstanding | 3 | |||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 1,632 | |||||
Line of Credit Facility, Remaining Borrowing Capacity, Percentage | 72.50% | |||||
MPLX 364-Day Term Loan [Member] | MPLX LP | ||||||
Debt Instrument [Line Items] | ||||||
Repayments of Short-term Debt | $ 4,100 | |||||
Line of Credit [Member] | Bank revolving credit facility due 2022 | MPLX LP | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 615 | 0 | ||||
Senior Notes [Member] | MPLX LP | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | 5,500 | $ 2,250 | ||||
Senior Notes [Member] | Senior Notes Due February 2023 [Member] | MPLX LP | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 750 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | |||||
Percent of Par | 101.833% | |||||
Senior Notes [Member] | Senior Notes Due February 2023 [Member] | MarkWest [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 40 | |||||
Senior Notes [Member] | Senior Notes Due February 2029 [Member] | MPLX LP | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | 750 | 750 | $ 750 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.80% | |||||
Percent of Par | 99.432% | |||||
Senior Notes [Member] | Senior Notes Due February 2049 [Member] | MPLX LP | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 1,500 | 1,500 | $ 1,500 | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | 5.50% | ||||
Percent of Par | 98.031% | |||||
Senior Notes [Member] | Senior Notes Due March 2023 [Member] | MPLX LP | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 500 | $ 500 | 500 | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | 3.375% | ||||
Percent of Par | 99.931% | |||||
Senior Notes [Member] | Senior Notes Due March 2028 [Member] | MPLX LP | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 1,250 | $ 1,250 | 1,250 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 4.00% | ||||
Percent of Par | 99.551% | |||||
Senior Notes [Member] | Senior Notes Due April 2038 [Member] | MPLX LP | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 1,750 | $ 1,750 | 1,750 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | 4.50% | ||||
Percent of Par | 98.811% | |||||
Senior Notes [Member] | Senior Notes Due April 2048 [Member] | MPLX LP | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 1,500 | $ 1,500 | 1,500 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.70% | 4.70% | ||||
Percent of Par | 99.348% | |||||
Senior Notes [Member] | Senior Notes Due April 2058 [Member] | MPLX LP | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 500 | $ 500 | 500 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.90% | 4.90% | ||||
Percent of Par | 99.289% | |||||
Debt Premium [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Extinguishment of Debt, Gain (Loss), Net of Tax | $ (14) |
Revenue Disaggregation of Reven
Revenue Disaggregation of Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Disaggregation of Revenue [Line Items] | |||||
Total revenues from contracts with customers | $ 1,276 | $ 1,231 | $ 2,539 | $ 2,338 | |
Other income | 5 | 1 | 5 | 5 | |
Total segment revenues and other income | 1,629 | 1,578 | 3,275 | 2,998 | |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | (1) | (12) | (7) | (8) | |
L&S | |||||
Disaggregation of Revenue [Line Items] | |||||
Total revenues from contracts with customers | 657 | 584 | 1,272 | 1,085 | |
G&P | |||||
Disaggregation of Revenue [Line Items] | |||||
Total revenues from contracts with customers | 619 | 647 | 1,267 | 1,253 | |
Other Income [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Other income | [1] | 353 | 347 | 736 | 660 |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 0 | (2) | 0 | (1) | |
Service [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Total revenues from contracts with customers | 448 | 410 | 886 | 792 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 620 | 549 | 1,198 | 1,020 | |
Service [Member] | L&S | |||||
Disaggregation of Revenue [Line Items] | |||||
Total revenues from contracts with customers | 33 | 32 | 67 | 60 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 620 | 549 | 1,198 | 1,020 | |
Service [Member] | G&P | |||||
Disaggregation of Revenue [Line Items] | |||||
Total revenues from contracts with customers | 415 | 378 | 819 | 732 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 0 | 0 | 0 | 0 | |
Service, Other [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Total revenues from contracts with customers | 26 | 51 | 60 | 95 | |
Service, Other [Member] | L&S | |||||
Disaggregation of Revenue [Line Items] | |||||
Total revenues from contracts with customers | 0 | 0 | 0 | 0 | |
Service, Other [Member] | G&P | |||||
Disaggregation of Revenue [Line Items] | |||||
Total revenues from contracts with customers | 26 | 51 | 60 | 95 | |
Product [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Total revenues from contracts with customers | 168 | 206 | 370 | 413 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 14 | 13 | 25 | 17 | |
Revenue from Contract with Customer, excluding Assessed Tax and Non-ASC 606 Revenue | [2] | 168 | 208 | 370 | 414 |
Product [Member] | L&S | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 2 | 2 | 4 | 3 | |
Revenue from Contract with Customer, excluding Assessed Tax and Non-ASC 606 Revenue | 2 | 1 | 3 | 2 | |
Product [Member] | G&P | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 12 | 11 | 21 | 14 | |
Revenue from Contract with Customer, excluding Assessed Tax and Non-ASC 606 Revenue | [2] | $ 166 | $ 207 | $ 367 | $ 412 |
[1] | Non-ASC 606 Revenue includes rental income, income from equity method investments, derivative gains and losses, mark-to-market adjustments, and other income. | ||||
[2] | G&P “Product sales” for the three and six months ended June 30, 2018 includes approximately $2 million and $1 million of revenue related to derivative gains and losses and mark-to-market adjustments, respectively. There were no adjustments for the three and six months ended June 30, 2019 . |
Revenue Contract Balances (Deta
Revenue Contract Balances (Details) $ in Millions | 6 Months Ended | |
Jun. 30, 2019USD ($) | ||
Long-term deferred revenue, beginning balance | $ 80 | |
Long-term deferred revenue, ending balance | 108 | |
Liability, change in timeframe, performance obligation satisfied, revenue recognized | 0 | |
ASC 606 | ||
Contract assets, beginning balance | 4 | [1] |
Contract assets, additions/(deletions) | 2 | |
Contract assets, revenue recognized | (1) | [2] |
Contract assets, ending balance | 5 | |
Deferred revenue, beginning balance | 4 | [1] |
Deferred revenue, additions/(deletions) | 2 | |
Deferred revenue, revenue recognized | (1) | [2] |
Deferred revenue, ending balance | 5 | |
Deferred revenue - related parties, beginning balance | 50 | [1] |
Deferred revenue - related party, additions/(deletions) | 4 | |
Deferred revenue - related parties, revenue recognized | (17) | [2] |
Deferred revenue - related parties, ending balance | 37 | |
Long-term deferred revenue, beginning balance | 10 | [1] |
Long-term deferred revenue, additions/(deletions) | 3 | |
Long-term deferred revenue, revenue recognized | 0 | [2] |
Long-term deferred revenue, ending balance | 13 | |
Long-term deferred revenue - related parties, beginning balance | 42 | [1] |
Long-term deferred revenue - related party, additions/(deletions) | (2) | |
Long-term deferred revenue - related parties, revenue recognized | 0 | [2] |
Long-term deferred revenue - related parties, ending balance | $ 40 | |
[1] | Balance represents ASC 606 portion of each respective line item. | |
[2] | No significant revenue was recognized related to past performance obligations in the current period. |
Revenue Remaining Performance O
Revenue Remaining Performance Obligations (Details) $ in Millions | Jun. 30, 2019USD ($) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Contract with customer, liability | $ 93 | |
Remaining performance obligation, expected timing of satisfaction, years | 25 years | |
2018 | $ 587 | |
2019 | 1,181 | |
2020 | 1,196 | |
2022 | 1,181 | |
2023 and thereafter | 5,655 | |
Total revenue on remaining performance obligations | $ 9,800 | [1],[2],[3] |
[1] | All fixed consideration from contracts with customers is included in the amounts presented above. Variable consideration that is constrained or not required to be estimated as it reflects our efforts to perform is excluded. | |
[2] | Arrangements deemed implicit leases are included in “Rental income” and are excluded from this table. | |
[3] | Only minimum volume commitments that are deemed fixed are included in the table above. MPLX has various minimum volume commitments in processing arrangements that vary based on the actual Btu content of the gas received. These amounts are deemed variable consideration and are excluded from the table above. |
Supplemental Cash Flow Inform_3
Supplemental Cash Flow Information - Change in Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |||||
Cash and cash equivalents | $ 7 | $ 68 | |||
Restricted cash | [1] | 0 | 8 | ||
Cash, cash equivalents and restricted cash | $ 7 | $ 76 | $ 9 | $ 9 | |
[1] | The restricted cash balance is included within “Other current assets” on the Consolidated Balance Sheets. |
Supplemental Cash Flow Inform_4
Supplemental Cash Flow Information - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Net cash provided by operating activities included: | ||
Interest paid (net of amounts capitalized) | $ 284 | $ 154 |
Income Taxes Paid, Net | 0 | 1 |
Operating Lease, Payments | 35 | 0 |
Non-cash investing and financing activities: | ||
Net transfers of property, plant and equipment from materials and supplies inventories | 1 | 2 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 6 | 0 |
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | $ 3 | $ 0 |
Supplemental Cash Flow Inform_5
Supplemental Cash Flow Information - Summary of Reconciliation of Additions to Property, Plant and Equipment to Total Capital Expenditures (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Supplemental Cash Flow Elements [Abstract] | ||
(Decrease)/increase in capital accruals | $ (85) | $ 115 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Accumulated other comprehensive loss | [1] | $ (15) | $ (16) | $ (16) | $ (14) |
Other Comprehensive Income (Loss), Net of Tax | [2] | 1 | (2) | ||
Pension Plan [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Accumulated other comprehensive loss | [1] | (14) | (14) | (14) | (13) |
Other Comprehensive Income (Loss), Net of Tax | [2] | 0 | (1) | ||
Other Postretirement Benefits Plan [Member] | Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Accumulated other comprehensive loss | [1] | (1) | (2) | $ (2) | $ (1) |
Other Comprehensive Income (Loss), Net of Tax | [2] | $ 1 | $ (1) | ||
[1] | These components of “Accumulated other comprehensive loss” are included in the computation of net periodic benefit cost by LOOP and Explorer and are therefore included on the Consolidated Statements of Income under the caption “Income/(loss) from equity method investments.” | ||||
[2] | Components of other comprehensive income/loss - remeasurements relate to actuarial gains and losses as well as amortization of prior service costs. MPLX records an adjustment to “Comprehensive income” in accordance with its ownership interest in LOOP and Explorer. |
Equity-Based Compensation Pla_2
Equity-Based Compensation Plan - Summary of Phantom Unit Award Activity (Details) - Phantom Units | 6 Months Ended |
Jun. 30, 2019$ / sharesshares | |
Number of Units | |
Outstanding at December 31, 2018 | shares | 1,154,335 |
Granted | shares | 197,345 |
Settled | shares | 377,559 |
Forfeited | shares | 16,255 |
Outstanding at June 30, 2019 | shares | 957,866 |
Weighted Average Fair Value | |
Outstanding at December 31, 2018 | $ / shares | $ 34.34 |
Granted | $ / shares | 33.08 |
Settled | $ / shares | 33.42 |
Forfeited | $ / shares | 34.82 |
Outstanding at June 30, 2019 | $ / shares | $ 34.44 |
Equity-Based Compensation Pla_3
Equity-Based Compensation Plan - Additional Information (Detail) - Officer - Performance Shares [Member] - MPLX LP 2012 Incentive Compensation Plan [Member] | 6 Months Ended |
Jun. 30, 2019 | |
Equity Transactions And Share Based Compensation [Line Items] | |
Percentage paid out in cash | 75.00% |
Share Based Compensation Arrangement By Share Based Payment Award Percentage Paid Out In Stock | 25.00% |
Equity-Based Compensation Pla_4
Equity-Based Compensation Plan - Summary of Performance Unit Award Activity (Detail) | 6 Months Ended |
Jun. 30, 2019$ / sharesshares | |
Performance Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Outstanding at December 31, 2018 | 1,941,750 |
Granted | 987,994 |
Settled | 772,397 |
Forfeited | 0 |
Outstanding at June 30, 2019 | 2,157,347 |
Performance Units Market Condition [Member] | |
Equity Transactions And Share Based Compensation [Line Items] | |
Performance units grant date fair value (in USD per unit) | $ / shares | $ 0.68 |
Maximum [Member] | Performance Unit Performance Condition [Member] | |
Equity Transactions And Share Based Compensation [Line Items] | |
Performance units grant date fair value (in USD per unit) | $ / shares | $ 2 |
Leases Leases Narrative (Detail
Leases Leases Narrative (Details) $ in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019USD ($) | Jun. 30, 2019USD ($) | |
Document Period End Date | Jun. 30, 2019 | |
Operating lease revenue, excluding executory costs | $ 216 | $ 464 |
Operating Leases of Lessor Contingent Rentals Received | $ 1 | $ 1 |
Minimum [Member] | ||
Renewal Term Agreement | 1 year | |
Term Of Agreements | 1 year | |
Lessor, Operating Lease, Term of Contract | 1 year | 1 year |
Lessor, Operating Lease, Renewal Term | 0 years | 0 years |
Maximum [Member] | ||
Renewal Term Agreement | 50 years | |
Term Of Agreements | 60 years | |
Lessor, Operating Lease, Term of Contract | 12 years | 12 years |
Lessor, Operating Lease, Renewal Term | 10 years | 10 years |
Leases Lessee Lease Costs (Deta
Leases Lessee Lease Costs (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Lessee, Lease, Description [Line Items] | ||
Operating Lease, Cost | $ 14 | $ 28 |
Variable Lease, Cost | 1 | 3 |
Short-term Lease, Cost | 11 | 21 |
Lease, Cost | 26 | 52 |
MPC | ||
Lessee, Lease, Description [Line Items] | ||
Operating Lease, Cost | 4 | 8 |
Variable Lease, Cost | 0 | 0 |
Short-term Lease, Cost | 0 | 0 |
Lease, Cost | $ 4 | $ 8 |
Leases Lessee Balance Sheet Lea
Leases Lessee Balance Sheet Lease Detail (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Lessee, Lease, Description [Line Items] | ||
Operating Lease, Right-of-Use Asset | $ 255 | $ 0 |
Operating Lease, Liability, Current | 47 | 0 |
Operating Lease, Liability, Noncurrent | 209 | 0 |
Operating Lease, Liability | $ 256 | |
Operating Lease, Weighted Average Remaining Lease Term | 6 years 8 months 26 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 4.31% | |
Property, plant and equipment, gross | $ 19,086 | 18,316 |
Less accumulated depreciation | 4,065 | 3,677 |
Property, plant and equipment, net | 15,021 | 14,639 |
Other current liabilities | 95 | 83 |
Long-term debt | 14,030 | 13,392 |
Financing lease obligations(1) | $ 8 | |
Finance Lease, Weighted Average Remaining Lease Term | 16 years 9 months 25 days | |
Finance Lease, Weighted Average Discount Rate, Percent | 5.76% | |
MPC | ||
Lessee, Lease, Description [Line Items] | ||
Operating Lease, Right-of-Use Asset | $ 232 | 0 |
Operating Lease, Liability, Current | 1 | 0 |
Operating Lease, Liability, Noncurrent | 231 | $ 0 |
Operating Lease, Liability | $ 232 | |
Operating Lease, Weighted Average Remaining Lease Term | 47 years 8 months 1 day | |
Operating Lease, Weighted Average Discount Rate, Percent | 5.80% | |
Finance Lease [Member] | ||
Lessee, Lease, Description [Line Items] | ||
Property, plant and equipment, gross | $ 27 | |
Less accumulated depreciation | 9 | |
Property, plant and equipment, net | 18 | |
Other current liabilities | 6 | |
Long-term debt | $ 2 |
Leases Lessee Maturity Table (D
Leases Lessee Maturity Table (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Lessee, Lease, Description [Line Items] | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $ 73 | |
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | $ 30 | |
Finance Lease, Liability, Payments, Remainder of Fiscal Year | 1 | |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 55 | |
Finance Lease, Liability, Payments, Due Next Twelve Months | 6 | |
Finance Lease, Liability, Payments, Due Next Twelve Months | 2 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 70 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 52 | |
Finance Lease, Liability, Payments, Due Year Two | 0 | |
Finance Lease, Liability, Payments, Due Year Two | 5 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 67 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 47 | |
Finance Lease, Liability, Payments, Due Year Three | 0 | |
Finance Lease, Liability, Payments, Due Year Three | 0 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 64 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 43 | |
Finance Lease, Liability, Payments, Due Year Four | 0 | |
Finance Lease, Liability, Payments, Due Year Four | 0 | |
Operating Leases, Future Minimum Payments, Due in Five Years | 58 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 68 | |
Finance Lease, Liability, Payments, Due after Year Five | 7 | |
Finance Lease, Liability, Payments, Due after Year Five | 0 | |
Operating Leases, Future Minimum Payments Due | 1,051 | |
Lessee, Operating Lease, Liability, Payments, Due | 295 | |
Finance Lease, Liability, Payment, Due | 14 | |
Finance Lease, Liability, Payments, Due | 7 | |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 39 | |
Finance Lease, Interest Payment on Liability | 6 | |
Finance Lease, Interest Payment on Liability | 1 | |
Operating Lease, Liability | 256 | |
Finance Lease, Liability | 6 | |
Finance Lease, Liability, Payments, Due Year Five | 0 | |
Operating Leases, Future Minimum Payments, Due Thereafter | $ 719 | |
Finance Lease, Liability | 8 | |
MPC | ||
Lessee, Lease, Description [Line Items] | ||
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | 8 | |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 14 | |
Lessee, Operating Lease, Liability, Payments, Due Year Two | 14 | |
Lessee, Operating Lease, Liability, Payments, Due Year Three | 14 | |
Lessee, Operating Lease, Liability, Payments, Due Year Four | 14 | |
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 619 | |
Lessee, Operating Lease, Liability, Payments, Due | 683 | |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | 451 | |
Operating Lease, Liability | $ 232 |
Leases Lessor Maturity Table (D
Leases Lessor Maturity Table (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Lessor, Lease, Description [Line Items] | ||
Operating Leases, Future Minimum Payments Receivable, Current | $ 908 | |
Operating Leases, Future Minimum Payments Receivable, in Two Years | 909 | |
Operating Leases, Future Minimum Payments Receivable, in Three Years | 777 | |
Operating Leases, Future Minimum Payments Receivable, in Four Years | 775 | |
Operating Leases, Future Minimum Payments Receivable, in Five Years | 758 | |
Operating Leases, Future Minimum Payments Receivable, Thereafter | 3,432 | |
Operating Leases, Future Minimum Payments Receivable | 7,559 | |
Lessor, Operating Lease, Payments to be Received, Remainder of Fiscal Year | $ 406 | |
Lessor, Operating Lease, Payments to be Received, Next Twelve Months | 811 | |
Lessor, Operating Lease, Payments to be Received, Two Years | 805 | |
Lessor, Operating Lease, Payments to be Received, Three Years | 801 | |
Lessor, Operating Lease, Payments to be Received, Four Years | 784 | |
Lessor, Operating Lease, Payments to be Received, Thereafter | 3,673 | |
Lessor, Operating Lease, Payments to be Received | 7,280 | |
Related Party [Member] | ||
Lessor, Lease, Description [Line Items] | ||
Operating Leases, Future Minimum Payments Receivable, Current | 748 | |
Operating Leases, Future Minimum Payments Receivable, in Two Years | 750 | |
Operating Leases, Future Minimum Payments Receivable, in Three Years | 627 | |
Operating Leases, Future Minimum Payments Receivable, in Four Years | 627 | |
Operating Leases, Future Minimum Payments Receivable, in Five Years | 616 | |
Operating Leases, Future Minimum Payments Receivable, Thereafter | 2,321 | |
Operating Leases, Future Minimum Payments Receivable | 5,689 | |
Lessor, Operating Lease, Payments to be Received, Remainder of Fiscal Year | 316 | |
Lessor, Operating Lease, Payments to be Received, Next Twelve Months | 633 | |
Lessor, Operating Lease, Payments to be Received, Two Years | 636 | |
Lessor, Operating Lease, Payments to be Received, Three Years | 635 | |
Lessor, Operating Lease, Payments to be Received, Four Years | 623 | |
Lessor, Operating Lease, Payments to be Received, Thereafter | 2,409 | |
Lessor, Operating Lease, Payments to be Received | 5,252 | |
Third Party [Member] | ||
Lessor, Lease, Description [Line Items] | ||
Operating Leases, Future Minimum Payments Receivable, Current | 160 | |
Operating Leases, Future Minimum Payments Receivable, in Two Years | 159 | |
Operating Leases, Future Minimum Payments Receivable, in Three Years | 150 | |
Operating Leases, Future Minimum Payments Receivable, in Four Years | 148 | |
Operating Leases, Future Minimum Payments Receivable, in Five Years | 142 | |
Operating Leases, Future Minimum Payments Receivable, Thereafter | 1,111 | |
Operating Leases, Future Minimum Payments Receivable | $ 1,870 | |
Lessor, Operating Lease, Payments to be Received, Remainder of Fiscal Year | 90 | |
Lessor, Operating Lease, Payments to be Received, Next Twelve Months | 178 | |
Lessor, Operating Lease, Payments to be Received, Two Years | 169 | |
Lessor, Operating Lease, Payments to be Received, Three Years | 166 | |
Lessor, Operating Lease, Payments to be Received, Four Years | 161 | |
Lessor, Operating Lease, Payments to be Received, Thereafter | 1,264 | |
Lessor, Operating Lease, Payments to be Received | $ 2,028 |
Leases Lessor Operating Leased
Leases Lessor Operating Leased Assets (Details) - USD ($) $ in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Lessor, Lease, Description [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | $ 5,860 | $ 5,525 |
Property Subject to or Available for Operating Lease, Accumulated Depreciation | 2,230 | 2,038 |
Property Subject to or Available for Operating Lease, Net | 3,630 | 3,487 |
Natural gas gathering and NGL transportation pipelines and facilities | ||
Lessor, Lease, Description [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 1,038 | 964 |
Processing, fractionation and storage facilities | ||
Lessor, Lease, Description [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 1,550 | 1,398 |
Pipelines and related assets | ||
Lessor, Lease, Description [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 275 | 266 |
Barges and towing vessels | ||
Lessor, Lease, Description [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 656 | 619 |
Terminals and related assets | ||
Lessor, Lease, Description [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 1,185 | 1,178 |
Refineries and related assets | ||
Lessor, Lease, Description [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | 949 | 938 |
Land, building, office equipment and other | ||
Lessor, Lease, Description [Line Items] | ||
Property Subject to or Available for Operating Lease, Gross | $ 207 | $ 162 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions | Sep. 06, 2016 | Jun. 30, 2019 | Dec. 31, 2018 |
Commitments And Contingencies [Line Items] | |||
Accrued liabilities for environmental remediation | $ 16 | $ 14 | |
Contractual commitments to acquire property, plant and equipment | 528 | ||
MPC | |||
Commitments And Contingencies [Line Items] | |||
Due to Related Parties, Current | 157 | 131 | |
Environmental Loss Contingency [Member] | MPC | |||
Commitments And Contingencies [Line Items] | |||
Due to Related Parties, Current | $ 0 | ||
MarkWest, MarkWest Liberty Midstream, MarkWest Bluestone, Ohio Fractionation, MarkWest Utica EMG [Member] [Member] | |||
Commitments And Contingencies [Line Items] | |||
Loss Contingency, Damages Sought, Value | 10 | ||
Bilfinger Westcon, Inc. [Member] | |||
Commitments And Contingencies [Line Items] | |||
Loss Contingency, Damages Sought, Value | $ 40 | ||
Apex [Member] | |||
Commitments And Contingencies [Line Items] | |||
Apex litigation settlement amount | $ 10 | ||
Indirect Ownership Interest [Member] | Bakken Pipeline System [Member] | |||
Commitments And Contingencies [Line Items] | |||
Equity method investment, ownership percentage | 9.00% | ||
Guarantee Type, Other [Member] | |||
Commitments And Contingencies [Line Items] | |||
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 230 |
Subsequent Events Subsequent _2
Subsequent Events Subsequent Events (Details) - USD ($) $ in Millions | Jul. 30, 2019 | Jul. 31, 2019 | Jul. 29, 2019 | Apr. 27, 2018 | Apr. 26, 2018 | Jul. 21, 2017 |
ANDX LP [Member] | Nonpublic [Member] | Subsequent Event | ||||||
Subsequent Event [Line Items] | ||||||
Common Units Conversion Ratio - ANDX to MPLX | 1.0328 | |||||
ANDX LP [Member] | Public | Subsequent Event | ||||||
Subsequent Event [Line Items] | ||||||
Common Units Conversion Ratio - ANDX to MPLX | 1.135 | |||||
MPLX Revolving Credit Facility due July 2024 [Member] | Subsequent Event | ||||||
Subsequent Event [Line Items] | ||||||
Line of Credit Facility, Current Borrowing Capacity | $ 3,500 | |||||
ANDX Bank Revolving Credit Facilities [Member] | Andeavor Logistics [Member] | Subsequent Event | ||||||
Subsequent Event [Line Items] | ||||||
Line of Credit Facility, Current Borrowing Capacity | $ 2,100 | |||||
Bank revolving credit facility due 2022 | MPLX LP | ||||||
Subsequent Event [Line Items] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,250 | |||||
MPC Investment [Member] | Related Party Revolving Credit Agreement [Member] | ||||||
Subsequent Event [Line Items] | ||||||
Line of Credit Facility, Current Borrowing Capacity | $ 1,000 | $ 500 | ||||
MPC Investment [Member] | Related Party Revolving Credit Agreement [Member] | Subsequent Event | ||||||
Subsequent Event [Line Items] | ||||||
Line of Credit Facility, Current Borrowing Capacity | $ 1,500 |