Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | May 01, 2020 | |
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 | Mar. 31, 2020 | |
Amendment Flag | false | |
Entity File Number | 001-35714 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
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 | 1,058,603,592 | |
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 | ||||
Mar. 31, 2020 | Mar. 31, 2019 | ||||
Equity Method Investment, Other than Temporary Impairment | $ 1,264 | ||||
Revenues and other income: | |||||
Total revenues from contracts with customers | 1,781 | $ 1,708 | [1] | ||
Rental income | 96 | 99 | [2] | ||
Rental income - related parties | 234 | 325 | [2] | ||
Income/(loss) from equity method investments(2) | (1,184) | [3],[4],[5] | 77 | [2],[6],[7],[8] | |
Other income | 1 | 0 | [2] | ||
Other income - related parties | 64 | 26 | [2] | ||
Revenues | 992 | 2,235 | [1],[2] | ||
Costs and expenses: | |||||
Rental cost of sales | 35 | 37 | [2] | ||
Rental cost of sales - related parties | 46 | 43 | [2] | ||
Purchases - related parties | 276 | 278 | [2] | ||
Depreciation and amortization | [9] | 325 | 301 | [2],[6],[7] | |
General and administrative expenses | 97 | 101 | [2] | ||
Other taxes | 31 | 30 | [2] | ||
Total costs and expenses | 3,478 | 1,323 | [2] | ||
Income/(loss) from operations | (2,486) | 912 | [2] | ||
Related party interest and other financial costs | 3 | 1 | [2] | ||
Interest expense (net of amounts capitalized of $13 million and $11 million, respectively) | 211 | 214 | [2] | ||
Other financial costs | 16 | 9 | [2] | ||
Income/(loss) before income taxes | (2,716) | 688 | [2] | ||
(Benefit)/provision for income taxes | 0 | (1) | [2],[7] | ||
Net income | (2,716) | 689 | [2],[6],[7],[10] | ||
Less: Net income (loss) attributable to noncontrolling interest | 8 | 6 | [2] | ||
Income (Loss) Attributable to Predecessor | 0 | 180 | [2] | ||
Net income (loss) attributable to MPLX LP | (2,724) | [11] | 503 | [2],[12] | |
Limited partners' interest in net income (loss) attributable to MPLX LP | (2,755) | 483 | [2] | ||
Weighted average limited partner units outstanding: | |||||
Goodwill and Intangible Asset Impairment | 2,165 | 0 | [2],[6],[7] | ||
Limited Partners Common Units | |||||
Costs and expenses: | |||||
Net income (loss) attributable to MPLX LP | $ (2,755) | [11] | $ 483 | [12] | |
Net income (loss) attributable to MPLX LP per limited partner unit: | |||||
Common - basic (in USD per unit) | $ (2.60) | $ 0.61 | [2] | ||
Common - diluted (in USD per unit) | $ (2.60) | $ 0.61 | [2] | ||
Weighted average limited partner units outstanding: | |||||
Common - basic (in shares) | 1,058 | 794 | [2] | ||
Common - diluted (in shares) | 1,058 | 795 | [2] | ||
Service [Member] | |||||
Revenues and other income: | |||||
Total revenues from contracts with customers | $ 612 | $ 614 | [1],[2] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 928 | 803 | [1],[2] | ||
Service, Other [Member] | |||||
Revenues and other income: | |||||
Total revenues from contracts with customers | 39 | 34 | [1],[2] | ||
Product [Member] | |||||
Revenues and other income: | |||||
Total revenues from contracts with customers | 169 | 216 | [2] | ||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 33 | 41 | [1],[2] | ||
Oil and Gas, Refining and Marketing [Member] | |||||
Costs and expenses: | |||||
Cost of Goods and Services Sold | 368 | 339 | [2] | ||
Natural Gas, Midstream [Member] | |||||
Costs and expenses: | |||||
Cost of Goods and Services Sold | 135 | 194 | [2] | ||
Series A Preferred Stock [Member] | Preferred Partner [Member] | |||||
Costs and expenses: | |||||
Net income (loss) attributable to MPLX LP | 20 | [11] | 20 | [12] | |
Dividends, Preferred Stock | 20 | 20 | [2] | ||
Series B Preferred Stock [Member] | Preferred Partner [Member] | |||||
Costs and expenses: | |||||
Net income (loss) attributable to MPLX LP | [11] | 11 | |||
Dividends, Preferred Stock | $ 11 | $ 0 | [2] | ||
[1] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[3] | The 2020 period includes $1,264 million of impairment expense. See Note 4. | ||||
[4] | The 2020 period includes $1,264 million of impairment expense. See Note 4. | ||||
[5] | Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million . | ||||
[6] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[7] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[8] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[9] | Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $158 million and $153 million for the three months ended March 31, 2020 and 2019, respectively. Third party losses for the G&P segment were $425 million for the three months ended March 31, 2020 and third party revenues were $887 million for the three months ended March 31, 2019. | ||||
[10] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[11] | Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the distribution priorities applicable to the period. | ||||
[12] | Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the distribution priorities applicable to the period. |
Consolidated Statements of In_2
Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Income Statement [Abstract] | ||
Interest Costs Capitalized | $ 13 | $ 11 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | [1] | |
Statement of Comprehensive Income [Abstract] | |||
Net income/(loss) | $ (2,716) | $ 689 | [2],[3],[4] |
Other comprehensive income/(loss), net of tax: | |||
Remeasurements of pension and other postretirement benefits related to equity method investments, net of tax | (1) | 1 | |
Comprehensive income/(loss) | (2,717) | 690 | |
Less comprehensive income attributable to: | |||
Noncontrolling interests | 8 | 6 | |
Comprehensive Income (loss), Net of Tax, Attributable to Predecessor | 0 | 180 | |
Comprehensive income/(loss) attributable to MPLX LP | $ (2,725) | $ 504 | |
[1] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||
[3] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||
[4] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 | |
Current assets: | |||
Cash and cash equivalents | $ 57 | $ 15 | |
Receivables, net | 522 | 593 | |
Current Assets, Related Parties | 600 | 656 | |
Inventories | 105 | 110 | |
Other current assets | 45 | 110 | |
Total current assets | 1,329 | 1,484 | |
Equity method investments | 3,992 | 5,275 | |
Property, plant and equipment, net | 21,829 | 22,145 | |
Intangibles, net | 1,055 | 1,270 | |
Goodwill | 7,722 | 9,536 | |
Operating Lease, Right-of-Use Asset | 352 | 365 | |
Other Assets, Related Parties, Noncurrent | 677 | 303 | |
Other noncurrent assets | 50 | 52 | |
Total assets | 37,006 | 40,430 | |
Current liabilities: | |||
Accounts payable | 138 | 242 | |
Accrued Liabilities, Current | 135 | 187 | |
Current Liabilities, Related Parties | 297 | 1,008 | |
Accrued Property Plant and Equipment Current | 234 | 283 | |
Accrued interest payable | 214 | 210 | |
Operating Lease, Liability, Current | 67 | 66 | |
Other current liabilities | 129 | 136 | |
Total current liabilities | 1,214 | 2,132 | |
Long-term deferred revenue | 241 | 217 | |
Liabilities, Related Parties, Noncurrent | 290 | 290 | |
Long-term debt | 20,467 | 19,704 | |
Deferred income taxes | 11 | 12 | |
Operating Lease, Liability, Noncurrent | 284 | 302 | |
Deferred credits and other liabilities | 175 | 192 | |
Total liabilities | 22,682 | 22,849 | |
Commitments and contingencies (see Note 21) | |||
Series A preferred units | 968 | 968 | |
Equity | |||
Total MPLX LP partners’ capital | 13,108 | 16,364 | |
Accumulated other comprehensive loss | [1] | (16) | (15) |
Noncontrolling interests | 248 | 249 | |
Total equity | 13,356 | 16,613 | |
Total liabilities, preferred units and equity | 37,006 | 40,430 | |
MPC | |||
Current assets: | |||
Operating Lease, Right-of-Use Asset | 231 | 232 | |
Current liabilities: | |||
Operating Lease, Liability, Current | 1 | 1 | |
Operating Lease, Liability, Noncurrent | 230 | 230 | |
Series B Preferred Stock [Member] | |||
Equity | |||
Total MPLX LP partners’ capital | 601 | 611 | |
Limited Partners Common Units | Public | |||
Equity | |||
Total MPLX LP partners’ capital | 9,509 | 10,800 | |
Total equity | 9,509 | 10,800 | |
Limited Partners Common Units | MPC | |||
Equity | |||
Total MPLX LP partners’ capital | 3,014 | 4,968 | |
Total equity | 3,014 | 4,968 | |
LOOP and Explorer | |||
Equity | |||
Accumulated other comprehensive loss | (16) | (15) | |
Retained Earnings [Member] | MPC | |||
Equity | |||
Total equity | $ 0 | $ 0 | |
[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) - shares shares in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Limited Partners Common Units | Public | ||
Units issued | 393 | 392 |
Units Outstanding | 393 | 392 |
Limited Partners Common Units | MPC | ||
Units issued | 666 | 666 |
Units Outstanding | 666 | 666 |
Series B Preferred Stock [Member] | ||
Units issued | 0.6 | 0.6 |
Units Outstanding | 0.6 | 0.6 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | [1] | |||
Equity Method Investment, Other than Temporary Impairment | $ 1,264 | ||||
Proceeds from Contributions from Parent | 14 | $ 12 | |||
Operating activities: | |||||
Net income/(loss) | (2,716) | 689 | [2],[3],[4] | ||
Adjustments to reconcile net income/(loss) to net cash provided by operating activities: | |||||
Amortization of deferred financing costs | 14 | 7 | |||
Depreciation and amortization | [5] | 325 | 301 | [3],[4] | |
Goodwill and Intangible Asset Impairment | 2,165 | 0 | [3],[4] | ||
Deferred income taxes | 0 | (2) | |||
(Gain)/loss on disposal of assets | 0 | 1 | |||
Loss/(income) from equity method investments(2) | 1,184 | [6],[7],[8] | (77) | [3],[4],[9] | |
Distributions from unconsolidated affiliates | 119 | 115 | |||
Changes in: | |||||
Current receivables | 71 | 6 | |||
Inventories | 3 | 4 | |||
Fair value of derivatives | (15) | 7 | |||
Current accounts payable and accrued liabilities | (142) | (69) | |||
Current assets/current liabilities - related parties | (52) | (157) | |||
Increase (Decrease) in Other Operating Assets and Liabilities, Net | (4) | 0 | |||
Deferred revenue | 27 | 13 | |||
All other, net | 30 | 15 | |||
Net cash provided by operating activities | 1,009 | 853 | |||
Investing activities: | |||||
Additions to property, plant and equipment | (379) | (575) | |||
Proceeds from Contributions from Affiliates | 0 | 1 | |||
Disposal of assets | 39 | 7 | |||
Investments in unconsolidated affiliates | (91) | (135) | |||
Distributions from unconsolidated affiliates - return of capital | 69 | 2 | |||
Net cash used in investing activities | (362) | (700) | |||
Financing activities: | |||||
Long-term debt - borrowings | 1,325 | 1,404 | |||
Long-term debt - repayments | (581) | (821) | |||
Related party debt - borrowings | 1,667 | 1,405 | |||
Related party debt - repayments | (2,261) | (1,405) | |||
Distributions to noncontrolling interests | (9) | (6) | |||
Distributions to unitholders and general partner | (717) | (515) | |||
Contributions from noncontrolling interests | 0 | 94 | [10] | ||
All other, net | (2) | (5) | |||
Net cash used in financing activities | (605) | (116) | |||
Net (decrease)/increase in cash, cash equivalents and restricted cash | 42 | 37 | |||
Cash, cash equivalents and restricted cash at beginning of period | 15 | 85 | |||
Cash, cash equivalents and restricted cash at end of period | 57 | 122 | |||
Series A Preferred Stock [Member] | Preferred Partner [Member] | |||||
Financing activities: | |||||
Distributions to preferred unitholders | (20) | (20) | |||
Series B Preferred Stock [Member] | Preferred Partner [Member] | |||||
Payments of Distributions on Preferred Units from Predecessor | 0 | 259 | |||
Financing activities: | |||||
Distributions to preferred unitholders | $ (21) | $ 0 | |||
[1] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[3] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[4] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[5] | Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $158 million and $153 million for the three months ended March 31, 2020 and 2019, respectively. Third party losses for the G&P segment were $425 million for the three months ended March 31, 2020 and third party revenues were $887 million for the three months ended March 31, 2019. | ||||
[6] | The 2020 period includes $1,264 million of impairment expense. See Note 4. | ||||
[7] | The 2020 period includes $1,264 million of impairment expense. See Note 4. | ||||
[8] | Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million . | ||||
[9] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[10] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) | Total | Preferred Class B [Member] | PublicLimited Partners Common Units | MPCLimited Partners Common Units | Accumulated Other Comprehensive Loss | Noncontrolling Interests | Equity of PredecessorMPC | ||
Beginning Balance at Dec. 31, 2018 | $ 17,731,000,000 | $ 0 | $ 8,336,000,000 | $ (1,612,000,000) | $ (16,000,000) | $ 156,000,000 | $ 10,867,000,000 | ||
Distributions to: | [1] | (669,000,000) | 0 | 176,000,000 | 307,000,000 | 0 | (6,000,000) | (180,000,000) | |
Contributions from: | [1] | 15,000,000 | 0 | 0 | 0 | 0 | 0 | 15,000,000 | |
Unitholders and general partner | [1] | (776,000,000) | 0 | (188,000,000) | (327,000,000) | 0 | 0 | (261,000,000) | |
Noncontrolling interests | [1] | (6,000,000) | 0 | 0 | 0 | 0 | (6,000,000) | 0 | |
Contributions from noncontrolling interests | [1] | (94,000,000) | [2] | 0 | 0 | 0 | 0 | (94,000,000) | 0 |
Other | [1] | 3,000,000 | 0 | 2,000,000 | 0 | 1,000,000 | 0 | 0 | |
Ending Balance at Mar. 31, 2019 | [1] | 17,730,000,000 | 0 | 8,326,000,000 | (1,632,000,000) | (15,000,000) | 250,000,000 | 10,801,000,000 | |
Beginning Balance at Dec. 31, 2019 | 16,613,000,000 | 611,000,000 | 10,800,000,000 | 4,968,000,000 | (15,000,000) | 249,000,000 | 0 | ||
Distributions to: | 2,736,000,000 | (11,000,000) | (1,022,000,000) | (1,733,000,000) | 0 | (8,000,000) | 0 | ||
Contributions from: | 225,000,000 | 0 | 0 | 225,000,000 | 0 | 0 | 0 | ||
Unitholders and general partner | (738,000,000) | (21,000,000) | (271,000,000) | (446,000,000) | 0 | 0 | 0 | ||
Noncontrolling interests | (9,000,000) | 0 | 0 | 0 | 0 | (9,000,000) | 0 | ||
Contributions from noncontrolling interests | 0 | ||||||||
Other | 1,000,000 | 0 | 2,000,000 | 0 | (1,000,000) | 0 | 0 | ||
Ending Balance at Mar. 31, 2020 | $ 13,356,000,000 | $ 601,000,000 | $ 9,509,000,000 | $ 3,014,000,000 | $ (16,000,000) | $ 248,000,000 | $ 0 | ||
[1] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||||||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Description of the Business and
Description of the Business and Basis of Presentation | 3 Months Ended |
Mar. 31, 2020 | |
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, asphalt 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, asphalt 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. Impairments – The recent outbreak of COVID-19 and its development into a pandemic in March 2020 has resulted in significant economic disruption globally. Actions taken by various governmental authorities, individuals and companies around the world to prevent the spread of COVID-19 through social distancing have restricted travel, many business operations, public gatherings and the overall level of individual movement and in-person interaction across the globe. This has significantly reduced global economic activity and resulted in a decline in the demand for the midstream services we provide. Macroeconomic conditions and global geopolitical events have also resulted in significant price volatility related to those aforementioned products. The overall deterioration in the economy and the environment in which MPLX and our customers operate, as well as a sustained decrease in unit price, were considered triggering events resulting in impairments of the carrying value of certain assets. During the first quarter of 2020 we recognized impairments related to goodwill, certain equity method investments and certain long-lived assets (including intangibles), within our G&P segment. Many of our producer customers have continued to refine and update production forecasts in response to the current environment, which has impacted their current and expected future demand for our services, including the future utilization of our assets. Additionally, certain of our contracts have commodity price exposure, including NGL prices, which have experienced increased volatility as noted above. The table below provides information related to the impairments recognized during the first quarter of 2020 as well as the corresponding footnote where additional information can be found. (In millions) Impairment Footnote Reference Goodwill $ 1,814 12 Equity method investments 1,264 4 Intangibles, net 177 12 Property, plant and equipment, net 174 11 Total impairments $ 3,429 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, 2019 . The results of operations for the three months ended March 31, 2020 are not necessarily indicative of the results to be expected for the full year. In relation to the Merger described above and in Note 3 , ANDX’s assets, liabilities and results of operations prior to the Merger are collectively included in what we refer to as the “Predecessor” from October 1, 2018, which was the date that MPC acquired Andeavor. MPLX’s acquisition of ANDX is considered a transfer between entities under common control due to MPC’s relationship with ANDX prior to the Merger. As an entity under common control with MPC, MPLX recorded the assets acquired and liabilities assumed on its consolidated balance sheets at MPC’s historical carrying value. Transfers of businesses between entities under common control require prior periods to be retrospectively adjusted for those dates that the entity was under common control. Accordingly, the accompanying financial statements and related notes of MPLX LP have been retrospectively adjusted to include the historical results of ANDX beginning October 1, 2018. 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 VIEs 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 and Series B 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
Accounting Standards Accounting Standards | 3 Months Ended |
Mar. 31, 2020 | |
Accounting Changes and Error Corrections [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recently Adopted ASU 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments Effective January 1, 2020, we adopted ASU 2016-13 using the modified retrospective transition method. This ASU requires entities to consider a broader range of information to estimate expected credit losses, which may result in earlier recognition of losses. The ASU requires the company to utilize an expected loss methodology in place of the incurred loss methodology for financial instruments, including trade receivables, and off-balance sheet credit exposures. Adoption of the standard did not have a material impact on our financial statements. We are exposed to credit losses, primarily as a result of the midstream services that we provide. We assess each customer’s ability to pay through our credit review process, which considers various factors such as external credit ratings; a review of financial statements to determine liquidity, leverage, trends and business specific risks; market information; pay history and our business strategy. We monitor our ongoing credit exposure through timely review of customer payment activity. At March 31, 2020, we reported $522 million of accounts receivable, net of allowances of $1 million . We are also exposed to credit losses from off-balance sheet exposures, such as guarantees of joint venture debt. See Note 21 for more information on these off-balance sheet exposures. We also adopted the following ASU during the first three months of 2020, which did not have a material impact to our financial statements or financial statement disclosures: ASU Effective Date 2018-13 Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement January 1, 2020 |
Acquisitions
Acquisitions | 3 Months Ended |
Mar. 31, 2020 | |
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. See Note 7 for information on units issued in connection with the Merger. Additionally, as a result of the Merger, each ANDX TexNew Mex Unit issued and outstanding immediately prior to the effective time of the Merger was converted into a right for Western Refining Southwest, Inc. (“Southwest, Inc.”), a wholly owned subsidiary of MPC, as the holder of all such units, to receive a unit representing a substantially equivalent limited partner interest in MPLX (the “MPLX TexNew Mex Units”). By virtue of the conversion, all ANDX TexNew Mex Units were cancelled and ceased to exist as of the effective time of the Merger. The MPLX TexNew Mex Units are a new class of units in MPLX substantially equivalent to the ANDX TexNew Mex Units, including substantially equivalent rights, powers, duties and obligations that the ANDX TexNew Mex Units had immediately prior to the closing of the Merger. As a result of the Merger, the ANDX Special Limited Partner Interest outstanding immediately prior to the effective time of the Merger was converted into a right for Southwest Inc., as the holder of all such interest, to receive a substantially equivalent special limited partner interest in MPLX (the “MPLX Special Limited Partner Interest”). By virtue of the conversion, the ANDX Special Limited Partner Interest was cancelled and ceased to exist as of the effective time of the Merger. For information on ANDX’s preferred units, please see Note 7 . The assets of ANDX consist of a network of owned and operated crude oil, refined product and natural gas pipelines; crude oil and water gathering systems; refining logistics assets; terminals with crude oil and refined products storage capacity; rail facilities; marine terminals including storage; bulk petroleum distribution facilities; a trucking fleet; and natural gas processing and fractionation systems and complexes. The assets are located in the western and inland regions of the United States and complement MPLX’s existing business and assets. 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. The Merger was closed on July 30, 2019, and the results of ANDX have been incorporated into the results of MPLX as of October 1, 2018, which is the date that common control was established. As a result of MPC’s relationship with both MPLX and ANDX, the Merger has been treated as a common control transaction, which requires the recasting of MPLX’s historical results and the recognition of assets acquired and liabilities assumed using MPC’s historical carrying value. We recognized $1 million in acquisition costs during the first quarter of 2019 related to the Merger, which are reflected in general and administrative expenses. For the three months ended March 31, 2019, we recognized $589 million of revenues and other income and $180 million |
Equity Method Investments
Equity Method Investments | 3 Months Ended |
Mar. 31, 2020 | |
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 March 31, March 31, December 31, (In millions, except ownership percentages) 2020 2020 2019 L&S MarEn Bakken Company LLC 25% $ 479 $ 481 Illinois Extension Pipeline Company, L.L.C. 35% 271 265 LOOP LLC 41% 239 238 Andeavor Logistics Rio Pipeline LLC (1) 67% 200 202 Minnesota Pipe Line Company, LLC 17% 190 190 Whistler Pipeline LLC (1) 38% 163 134 W2W Holdings LLC (1)(2) 50% 76 — Wink to Webster Pipeline LLC (1)(2) 15% — 126 Explorer Pipeline Company 25% 81 83 Other (1) 55 55 Total L&S 1,754 1,774 G&P MarkWest Utica EMG, L.L.C. (1) 57% 712 1,984 Sherwood Midstream LLC (1) 50% 546 537 MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C. (1) 67% 302 302 Rendezvous Gas Services, L.L.C. (1) 78% 167 170 Sherwood Midstream Holdings LLC (1) 52% 155 157 Centrahoma Processing LLC 40% 150 153 Other (1) 206 198 Total G&P 2,238 3,501 Total $ 3,992 $ 5,275 (1) Investments deemed to be VIE’s. Some investments included within “Other” have also been deemed to be VIE’s. (2) During the three months ended March 31, 2020, we contributed our ownership in Wink to Webster Pipeline LLC to W2W Holdings LLC. For those entities that have been deemed to be VIE’s, neither MPLX nor any of its subsidiaries have been deemed to be the primary beneficiary due to voting rights on significant matters. While we have the ability to exercise influence through participation in the management committees which make all significant decisions, since we have equal influence over each committee as a joint interest partner and all significant decisions require the consent of the other investors without regard to economic interest, we have determined that these entities should not be consolidated and apply the equity method of accounting with respect to our investments in each entity. 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 March 31, 2020 , MPLX has a 24.1 percent indirect ownership interest in Sherwood Midstream Holdings through Sherwood Midstream. MPLX’s maximum exposure to loss as a result of its involvement with equity method investments 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 equity method investments that it was not contractually obligated to provide during the three months ended March 31, 2020 . During the first quarter of 2020, we assessed certain of our equity method investments for impairment as a result of a number of first quarter events and circumstances as discussed in Note 1 . During the first quarter of 2020, we recorded an other than temporary impairment for three joint ventures in which we have an interest. Impairment of these investments was $1,264 million , of which $1,251 million was related to MarkWest Utica EMG, L.L.C. and its investment in Ohio Gathering Company, L.L.C. The fair value of the investments was determined based upon applying the discounted cash flow method, which is an income approach. The discounted cash flow fair value estimate is based on known or knowable information at the interim measurement date. The significant assumptions that were used to develop the estimate of the fair value under the discounted cash flow method include management’s best estimates of the expected future cash flows, including prices and volumes, the weighted average cost of capital and the long-term growth rate. Fair value determinations require considerable judgment and are sensitive to changes in underlying assumptions and factors. As such, the fair value of these equity method investments represents a Level 3 measurement. As a result, there can be no assurance that the estimates and assumptions made for purposes of the impairment test will prove to be an accurate prediction of the future. The impairment was recorded through “Income from equity method investments.” The impairments were largely due to a reduction in forecasted volumes gathered and processed by the systems operated by the joint ventures. Summarized financial information for MPLX’s equity method investments for the three months ended March 31, 2020 and 2019 is as follows: Three Months Ended March 31, 2020 (In millions) VIEs Non-VIEs Total Revenues and other income $ (217 ) $ 337 $ 120 Costs and expenses 104 132 236 Income from operations (321 ) 205 (116 ) Net income (337 ) 186 (151 ) (Loss)/income from equity method investments (1) $ (1,222 ) $ 38 $ (1,184 ) (1) Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million . Three Months Ended March 31, 2019 (1) (In millions) VIEs Non-VIEs Total Revenues and other income $ 155 $ 391 $ 546 Costs and expenses 77 198 275 Income from operations 78 193 271 Net income 71 181 252 Income from equity method investments $ 27 $ 50 $ 77 (1) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. Summarized balance sheet information for MPLX’s equity method investments as of March 31, 2020 and December 31, 2019 is as follows: March 31, 2020 (In millions) VIEs Non-VIEs Total Current assets $ 320 $ 325 $ 645 Noncurrent assets 5,384 5,115 10,499 Current liabilities 153 195 348 Noncurrent liabilities $ 544 $ 859 $ 1,403 December 31, 2019 (In millions) VIEs Non-VIEs Total Current assets $ 534 $ 330 $ 864 Noncurrent assets 5,862 5,134 10,996 Current liabilities 192 245 437 Noncurrent liabilities $ 305 $ 822 $ 1,127 As of March 31, 2020 , the underlying net assets of MPLX’s investees in the G&P segment exceeded the carrying value of its equity method investments by approximately $60 million , after the impairment charges recognized during the quarter. At December 31, 2019 , the carrying value of MPLX’s equity method investments in the G&P segment exceeded the underlying net assets of its investees by approximately $1.0 billion . As of March 31, 2020 and December 31, 2019 , the carrying value of MPLX’s equity method investments in the L&S segment exceeded the underlying net assets of its investees by $330 million and $329 million , respectively. At March 31, 2020 and December 31, 2019 , the G&P basis difference was being amortized into net income over the remaining estimated useful lives of the underlying assets, except for $31 million and $498 million of excess related to goodwill, respectively. At March 31, 2020 and December 31, 2019 , the L&S basis difference was being amortized into net income over the remaining estimated useful lives of the underlying assets, except for $167 million |
Related Party Agreements and Tr
Related Party Agreements and Transactions | 3 Months Ended |
Mar. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Agreements and Transactions | Related Party Agreements and Transactions MPLX engages in transactions with both MPC and certain of its equity method investments as part of its normal business; however, transactions with MPC make up the majority of MPLX’s related party transactions. Transactions with related parties are further described below. 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 and other fees for storage capacity; operating and management fees; as well as reimbursements for certain direct and indirect costs. MPC has also committed to provide a fixed fee for 100 percent of available capacity for boats, barges and third-party chartered equipment under the marine transportation service agreement. MPLX also has a keep-whole commodity agreement with MPC under which MPC pays us a processing fee for NGLs related to keep-whole agreements and delivers shrink gas to the producers on our behalf. We pay MPC a marketing fee in exchange for assuming the commodity risk. Additionally, MPLX has obligations to MPC for services provided to MPLX by MPC under omnibus and employee services type agreements as well as other various agreements. Related Party Loan MPLX is party to a loan agreement with MPC Investment LLC (“MPC Investment”) (the “MPC Loan Agreement”). Under the terms of the 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. In connection with the Merger, on July 31, 2019, MPLX and MPC Investment amended and restated the MPC Loan Agreement to increase the borrowing capacity under the MPC Loan Agreement to $1.5 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 July 31, 2024 , provided that 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 July 31, 2024 . Borrowings under the MPC Loan Agreement prior to July 31, 2019 bore interest at LIBOR plus 1.50 percent while borrowings as of and after July 31, 2019 bear interest at LIBOR plus 1.25 percent or such lower rate as would be applicable to such loans under the MPLX Credit Agreement. Activity on the MPC Loan Agreement was as follows: (In millions) Three Months Ended March 31, 2020 Year Ended December 31, 2019 Borrowings $ 1,667 $ 8,540 Average interest rate of borrowings 2.833 % 3.441 % Repayments $ 2,261 $ 7,946 Outstanding balance at end of period (1) $ — $ 594 (1) Included in “Current liabilities - related parties” on the Consolidated Balance Sheets. Prior to the Merger, ANDX was also party to a loan agreement with MPC (“ANDX-MPC Loan Agreement”). This facility was entered into on December 21, 2018, with a borrowing capacity of $500 million . In connection with the Merger, on July 31, 2019, MPLX repaid the entire outstanding balance and terminated the ANDX-MPC Loan Agreement. Activity on the ANDX-MPC Loan Agreement prior to the Merger was as follows: (In millions) Year Ended December 31, 2019 Borrowings $ 773 Average interest rate of borrowings 4.249 % Repayments $ 773 Outstanding balance at end of period $ — Related Party Revenue Related party sales to MPC consist of crude oil and refined products pipeline and trucking transportation services based on tariff/contracted 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 March 31, (In millions) 2020 2019 Service revenues - related parties MPC $ 927 $ 803 Other 1 — Total Service revenue - related parties 928 803 Rental income - related parties MPC 234 325 Product sales - related parties (1) MPC 33 41 Other income - related parties MPC 48 10 Other 16 16 Total Other income - related parties $ 64 $ 26 (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 months ended March 31, 2020 , these sales totaled $173 million . For the three months ended March 31, 2019 , these sales totaled $223 million . Related Party Expenses MPC provides executive management services and certain general and administrative services to MPLX under the terms of our omnibus agreements (“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 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 March 31, (In millions) 2020 2019 Rental cost of sales - related parties MPC $ 46 $ 43 Purchases - related parties MPC 271 273 Other 5 5 Total Purchase - related parties 276 278 General and administrative expenses MPC $ 64 $ 62 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 months ended March 31, 2020 and 2019, these charges totaled $36 million and $41 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 20 for additional information) and deferred revenue on minimum volume commitments. If MPC fails to meet its minimum committed volumes, MPC will pay MPLX a deficiency payment based on the terms of the agreement. The deficiency amounts are recorded as “Current liabilities - related parties.” In many cases, MPC may then apply the amount of any such deficiency payments as a credit for volumes in excess of its minimum volume commitment in future periods under the terms of the applicable agreements. MPLX recognizes related party revenues for the deficiency payments when credits are used for volumes 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 or in some cases as an equity contribution from its sponsor. (In millions) March 31, 2020 December 31, 2019 Current assets - related parties Receivables - MPC $ 538 $ 621 Receivables - Other 21 22 Prepaid - MPC 15 9 Lease Receivables - MPC 26 4 Total 600 656 Noncurrent assets - related parties Long-term receivables - MPC 28 21 Right of use assets - MPC 231 232 Long-term lease receivables - MPC 399 43 Unguaranteed residual asset - MPC 19 7 Total 677 303 Current liabilities - related parties Payables - MPC 227 911 Payables - Other 16 37 Operating lease liabilities - MPC 1 1 Deferred revenue - Minimum volume deficiencies - MPC 38 42 Deferred revenue - Project reimbursements - MPC 14 16 Deferred revenue - Project reimbursements - Other 1 1 Total 297 1,008 Long-term liabilities - related parties Long-term operating lease liabilities - MPC 230 230 Long-term deferred revenue - Project reimbursements - MPC 54 53 Long-term deferred revenue - Project reimbursements - Other 6 7 Total $ 290 $ 290 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 and purchases from related parties were not material for the three months ended March 31, 2020 and 2019 . |
Net Income Per Limited Partner
Net Income Per Limited Partner Unit | 3 Months Ended |
Mar. 31, 2020 | |
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, MPLX Series B preferred units, and TexNew Mex 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 income. Classes of participating securities for the three months ended March 31, 2020 and 2019 include: Three Months Ended March 31, 2020 2019 Common Units ü ü Equity-based compensation awards ü ü Series A preferred units ü ü Series B preferred units ü TexNew Mex units ü For the three months ended March 31, 2020 and 2019 , 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 months ended March 31, 2020 and 2019 were 1 million and less than 1 million , respectively. Three Months Ended March 31, (In millions) 2020 2019 Net income attributable to MPLX LP $ (2,724 ) $ 503 Less: Distributions declared on Series A preferred units (1) 20 20 Distributions declared on Series B preferred units (1) 11 — Limited partners’ distributions declared on MPLX common units (including common units of general partner) (1) 728 523 Undistributed net loss attributable to MPLX LP $ (3,483 ) $ (40 ) (1) See Note 7 for distribution information. Three Months Ended March 31, 2020 (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 $ 728 $ 20 $ 11 $ 759 Undistributed net loss attributable to MPLX LP (3,483 ) — — (3,483 ) Net income attributable to MPLX LP (1) $ (2,755 ) $ 20 $ 11 $ (2,724 ) Weighted average units outstanding: Basic 1,058 Diluted 1,058 Net income attributable to MPLX LP per limited partner unit: Basic $ (2.60 ) Diluted $ (2.60 ) (1) Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the distribution priorities applicable to the period. Three Months Ended March 31, 2019 (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 $ 523 $ 20 $ 543 Undistributed net loss attributable to MPLX LP (40 ) — (40 ) Net income attributable to MPLX LP (1) $ 483 $ 20 $ 503 Weighted average units outstanding: Basic 794 Diluted 795 Net income attributable to MPLX LP per limited partner unit: Basic $ 0.61 Diluted $ 0.61 (1) Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the distribution priorities applicable to the period. |
Equity
Equity | 3 Months Ended |
Mar. 31, 2020 | |
Equity [Abstract] | |
Equity | Equity The changes in the number of common units outstanding during the three months ended March 31, 2020 are summarized below: (In units) Common Balance at December 31, 2019 1,058,355,471 Unit-based compensation awards 151,878 Balance at March 31, 2020 1,058,507,349 Merger In connection with the Merger and as discussed in Note 3 , each common unit held by ANDX’s public unitholders was converted into the right to receive 1.135 MPLX common units while ANDX common units held by certain affiliates of MPC were converted into the right to receive 1.0328 MPLX common units. This resulted in the issuance of MPLX common units of approximately 102 million units to public unitholders and approximately 161 million units to MPC on July 30, 2019. Series B Preferred Units Prior to the Merger, ANDX had outstanding 600,000 units of 6.875 percent Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests of ANDX at a price to the public of $1,000 per unit. Upon completion of the Merger, the ANDX preferred units converted to preferred units of MPLX representing substantially equivalent limited partnership interests in MPLX (the “Series B preferred units”). The Series B preferred units are pari passu with the Series A preferred units with respect to distribution rights and rights upon liquidation. Distributions on the Series B preferred units are payable semi-annually in arrears on the 15th day, or the first business day thereafter, of February and August of each year up to and including February 15, 2023. After February 15, 2023, the holders of Series B preferred units are entitled to receive cumulative, quarterly distributions payable in arrears on the 15th day of February, May, August and November of each year, or the first business day thereafter, based on a floating annual rate equal to the three-month LIBOR plus 4.652 percent . The changes in the Series B preferred unit balance from December 31, 2019 through March 31, 2020 are summarized below. Series B preferred units are included in the Consolidated Balance Sheets and Consolidated Statements of Equity within “Equity of Predecessor” for the period prior to the Merger and within “Series B preferred units” for the period following the Merger. (In millions) Series B Preferred Units Balance at December 31, 2019 $ 611 Net income allocated 11 Distributions received by Series B preferred unitholders (21 ) Balance at March 31, 2020 $ 601 TexNew Mex Units - Prior to the Merger, MPC held 80,000 Andeavor Logistics TexNew Mex units, representing all outstanding units. At the time of the Merger, each Andeavor Logistics TexNew Mex unit was automatically converted into TexNew Mex units of MPLX with substantially the same rights and obligations as the Andeavor Logistics TexNew Mex units. The TexNew Mex units represent the right to receive quarterly distribution payments in an amount calculated using the distributable cash flow generated by a particular portion of the TexNew Mex pipeline system, in excess of a base amount and adjusted for previously agreed upon stipulations and contingencies. In 2019, distributions of less than $1 million were earned by the TexNew Mex units, which were declared in January of 2020 and paid in February 2020. No distributions were earned by the TexNew Mex units in the first quarter of 2020 . Cash distributions – In accordance with the MPLX partnership agreement, on April 28, 2020 , MPLX declared a quarterly cash distribution for the first quarter of 2020 , totaling $728 million , or $0.6875 per common unit. This rate will also be received by Series A preferred unitholders. These distributions will be paid on May 15, 2020 to common unitholders of record on May 8, 2020 . Series B preferred unitholders are entitled to receive a fixed distribution of $68.75 per unit, per annum, payable semi-annually in arrears on February 15 and August 15, or the first business day thereafter, up to and including February 15, 2023. After February 15, 2023, the holders of Series B preferred units are entitled to receive cumulative, quarterly distributions payable in arrears on the 15th day of February, May, August and November of each year, or the first business day thereafter, based on a floating annual rate equal to the three-month LIBOR plus 4.652 percent , in each case assuming a distribution is declared by the Board of Directors. MPLX made a cash distribution to holders of the Series B preferred unitholders in February 2020 for approximately $21 million . Quarterly distributions for the first quarter of 2020 and 2019 are summarized below: (Per common unit) 2020 2019 March 31, $ 0.6875 $ 0.6575 The allocation of total quarterly cash distributions to limited and preferred unitholders is as follows for the three months ended March 31, 2020 and 2019 . 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. Three Months Ended March 31, (In millions) 2020 2019 (1) Common and preferred unit distributions: Common unitholders, includes common units of general partner $ 728 $ 523 Series A preferred unit distributions 20 20 Series B preferred unit distributions 11 — Total cash distributions declared $ 759 $ 543 (1) The distribution on common units for the three months ended March 31, 2019 does not include the impact of the issuance of units in connection with the merger. |
Series A Preferred Units
Series A Preferred Units | 3 Months Ended |
Mar. 31, 2020 | |
Temporary Equity Disclosure [Abstract] | |
Redeemable Preferred Units | Series A Preferred Units On May 13, 2016, MPLX LP issued approximately 30.8 million 6.5 percent Series A Convertible preferred units for a cash purchase price of $32.50 per unit. 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 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 April 28, 2020 , MPLX declared a quarterly cash distribution of $0.6875 per common unit for the first quarter of 2020 . Holders of the Series A preferred units will receive the common unit rate in lieu of the lower $0.528125 base amount. The holders may convert their Series A preferred units into common units at any time, 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. Approximately 29.6 million Series A preferred units remaining outstanding as of March 31, 2020 . The changes in the redeemable preferred balance from December 31, 2019 through March 31, 2020 are summarized below: (In millions) Redeemable Series A Preferred Units Balance at December 31, 2019 $ 968 Net income allocated 20 Distributions received by Series A preferred unitholders (20 ) Balance at March 31, 2020 $ 968 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 | 3 Months Ended |
Mar. 31, 2020 | |
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, asphalt, refined petroleum products and water. Also includes an inland marine business, terminals, rail facilities, storage caverns and refining logistics. • 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 investments in unconsolidated affiliates as well as total assets for our reportable segments: Three Months Ended March 31, (In millions) 2020 2019 (1) L&S Service revenue $ 1,004 $ 889 Rental income 242 335 Product related revenue 19 15 Income from equity method investments 50 45 Other income 51 12 Total segment revenues and other income (2) 1,366 1,296 Segment Adjusted EBITDA (3) 872 559 Capital expenditures 184 198 Investments in unconsolidated affiliates 54 7 G&P Service revenue 536 528 Rental income 88 89 Product related revenue 222 276 (Loss)/income from equity method investments (1,234 ) 32 Other income 14 14 Total segment revenues and other (loss)/income (2) (374 ) 939 Segment Adjusted EBITDA (3) 422 371 Capital expenditures 134 306 Investments in unconsolidated affiliates $ 37 $ 128 (1) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. (2) Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $158 million and $153 million for the three months ended March 31, 2020 and 2019, respectively. Third party losses for the G&P segment were $425 million for the three months ended March 31, 2020 and third party revenues were $887 million for the three months ended March 31, 2019. (3) See below for the reconciliation from Segment Adjusted EBITDA to net income. (In millions) March 31, 2020 December 31, 2019 Segment assets Cash and cash equivalents $ 57 $ 15 L&S 20,891 20,810 G&P 16,058 19,605 Total assets $ 37,006 $ 40,430 The table below provides a reconciliation between net (loss)/income and Segment Adjusted EBITDA. Three Months Ended March 31, (In millions) 2020 2019 (1) Reconciliation to Net (loss)/income: L&S Segment Adjusted EBITDA $ 872 $ 559 G&P Segment Adjusted EBITDA 422 371 Total reportable segments 1,294 930 Depreciation and amortization (2) (325 ) (301 ) Benefit for income taxes — 1 Amortization of deferred financing costs (14 ) (7 ) Non-cash equity-based compensation (5 ) (7 ) Impairment expense (2,165 ) — Net interest and other financial costs (216 ) (217 ) (Loss)/income from equity method investments (1,184 ) 77 Distributions/adjustments related to equity method investments (124 ) (122 ) Unrealized derivative gains/(losses) (3) 15 (4 ) Acquisition costs — (1 ) Other (1 ) — Adjusted EBITDA attributable to noncontrolling interests 9 7 Adjusted EBITDA attributable to Predecessor (4) — 333 Net (loss)/income $ (2,716 ) $ 689 (1) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. (2) Depreciation and amortization attributable to L&S was $138 million and $126 million for the three months ended March 31, 2020 and 2019, respectively. Depreciation and amortization attributable to G&P was $187 million and $175 million for the three months ended March 31, 2020 and 2019, respectively. (3) 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. (4) The adjusted EBITDA adjustments related to Predecessor are excluded from adjusted EBITDA attributable to MPLX LP prior to the Merger. |
Inventories
Inventories | 3 Months Ended |
Mar. 31, 2020 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories Inventories consist of the following: (In millions) March 31, 2020 December 31, 2019 NGLs $ 1 $ 5 Line fill 6 10 Spare parts, materials and supplies 98 95 Total inventories $ 105 $ 110 |
Property, Plant and Equipment
Property, Plant and Equipment | 3 Months Ended |
Mar. 31, 2020 | |
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) Estimated Useful Lives March 31, 2020 December 31, 2019 L&S Pipelines 2-51 years $ 5,637 $ 5,572 Refining Logistics 13-40 years 2,308 2,870 Terminals 2-40 years 1,176 1,109 Marine 15-20 years 960 906 Land, building and other 1-61 years 1,827 1,817 Construction-in progress 618 660 Total L&S property, plant and equipment 12,526 12,934 G&P Gathering and transportation 5-40 years 7,349 7,159 Processing and fractionation 15-40 years 5,605 5,545 Land, building and other 3-40 years 491 484 Construction-in-progress 616 745 Total G&P property, plant and equipment 14,061 13,933 Total property, plant and equipment 26,587 26,867 Less accumulated depreciation (1) 4,758 4,722 Property, plant and equipment, net $ 21,829 $ 22,145 (1) The March 31, 2020 balance includes property, plant and equipment impairment charges recorded during the first quarter of 2020 as discussed below. Long-lived assets used in operations are assessed for impairment whenever changes in facts and circumstances indicate that the carrying value of the assets may not be recoverable based on the expected undiscounted future cash flow of an asset group. For purposes of impairment evaluation, long-lived assets must be grouped at the lowest level for which independent cash flows can be identified, which is at least at the segment level and in some cases for similar assets in the same geographic region where cash flows can be separately identified. If the sum of the undiscounted cash flows is less than the carrying value of an asset group, fair value is calculated, and the carrying value is written down if greater than the calculated fair value. During the first quarter of 2020, we identified an impairment trigger relating to asset groups within our Western G&P reporting unit as a result of significant impacts to forecasted cash flows for these asset groups resulting from the first quarter events and circumstances as discussed in Note 1 . The cash flows associated with these assets were significantly impacted by volume declines reflecting decreased forecasted producer customer production as a result of lower commodity prices. After assessing each asset group within the Western G&P reporting unit for impairment, only the East Texas G&P asset group resulted in the fair value of the underlying assets being less than the carrying value. As a result, an impairment of $174 million was recorded to Impairment expense on the Consolidated Statements of Income. Fair value of the assets was determined using a combination of an income and cost approach. The income approach utilized significant assumptions including management’s best estimates of the expected future cash flows, the estimated useful life of the asset group and discount rate. The cost approach utilized assumptions for the current replacement costs of similar assets adjusted for estimated depreciation and deterioration of the existing equipment and economic obsolescence. Fair value determinations require considerable judgment and are sensitive to changes in underlying assumptions and factors. As a result, there can be no assurance that the estimates and assumptions made for purposes of our impairment analysis will prove to be an accurate prediction of the future. The fair value measurements for the asset group fair values represent Level 3 measurements. |
Goodwill and Intangibles (Notes
Goodwill and Intangibles (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Goodwill and Intangibles Goodwill MPLX annually evaluates goodwill for impairment as of November 30, as well as whenever events or changes in circumstances indicate it is more likely than not that the fair value of a reporting unit with goodwill is less than its carrying amount. During the first quarter of 2020, we determined that an interim impairment analysis of the goodwill recorded was necessary based on consideration of a number of first quarter events and circumstances as discussed in Note 1 . Our producer customers in our Eastern G&P region reduced production forecasts and drilling activity in response to the global economic downturn. Additionally, a decline in NGL prices impacted our future revenue forecast. After performing our evaluations related to the interim impairment of goodwill during the first quarter of 2020, we recorded an impairment of $1,814 million within the Eastern G&P reporting unit, which was recorded to Impairment expense on the Consolidated Statements of Income. The impairment was primarily driven by additional guidance related to the slowing of drilling activity, which has reduced production growth forecasts from our producer customers. This resulted in goodwill totaling approximately $7.7 billion as of March 31, 2020 within four reporting units. The fair value of the remaining reporting units with goodwill were in excess of their carrying value by percentages ranging from 8.5 percent to 270.0 percent . The reporting unit whose fair value exceeded its carrying amount by 8.5 percent , our Crude Gathering reporting unit, had goodwill totaling $1.1 billion at March 31, 2020. The operations which make up this reporting unit were acquired through the merger with ANDX. 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. The Merger was closed on July 30, 2019 and has been treated as a common control transaction, which required the recognition of assets acquired and liabilities assumed using MPC’s historical carrying value. As such, given the short amount of time from when fair value was established to the date of the impairment test, the amount by which the fair value exceeded the carrying value within this reporting unit is not unexpected. Our reporting units are one level below our operating segments and are determined based on the way in which segment management operates and reviews each operating segment. The fair value of our six reporting units was determined based on applying both a discounted cash flow or income approach as well as a market approach. The discounted cash flow fair value estimate is based on known or knowable information at the measurement date. The significant assumptions that were used to develop the estimates of the fair values under the discounted cash flow method included management’s best estimates of the expected future results and discount rate, which ranged from 9.5 percent to 11.5 percent . Fair value determinations require considerable judgment and are sensitive to changes in underlying assumptions and factors. As a result, there can be no assurance that the estimates and assumptions made for purposes of the interim goodwill impairment test will prove to be an accurate prediction of the future. The fair value measurements for the individual reporting units represent Level 3 measurements. After performing our evaluations related to the impairment of goodwill during the fiscal year ending December 31, 2019, we recorded an impairment of $1,197 million within the Western G&P reporting unit. The remainder of the reporting units’ fair values were in excess of their carrying values. The impairment was primarily driven by updated guidance related to the slowing of drilling activity, which has reduced production growth forecasts from our producer customers. This resulted in goodwill totaling approximately $9.5 billion as of December 31, 2019, with all but one of our six reporting units having goodwill. The changes in carrying amount of goodwill were as follows: (In millions) L&S G&P Total Gross goodwill as of December 31, 2018 $ 7,234 $ 2,912 $ 10,146 Accumulated impairment losses — (130 ) (130 ) Balance as of December 31, 2018 7,234 2,782 10,016 Impairment losses — (1,197 ) (1,197 ) Acquisitions 488 229 717 Balance as of December 31, 2019 7,722 1,814 9,536 Impairment losses — (1,814 ) (1,814 ) Balance as of March 31, 2020 7,722 — 7,722 Gross goodwill as of March 31, 2020 7,722 3,141 10,863 Accumulated impairment losses — (3,141 ) (3,141 ) Balance as of March 31, 2020 $ 7,722 $ — $ 7,722 Intangible Assets During the first quarter of 2020, we also determined that an impairment analysis of intangibles within our Western G&P reporting unit was necessary. See Note 11 for additional information regarding our assessment around the Western G&P reporting unit, and more specifically our East Texas G&P asset group. The fair value of the intangibles in our East Texas G&P asset group were determined based on applying the multi-period excess earnings method, which is an income approach. Key assumptions included management’s best estimates of the expected future cash flows from existing customers, customer attrition rates and the discount rate. After performing our evaluations related to the impairment of intangible assets associated with our East Texas G&P asset group during the first quarter of 2020, we recorded an impairment of $177 million to Impairment expense on the Consolidated Statements of Income related to our customer relationships. MPLX’s remaining intangible assets are comprised of customer contracts and relationships. Gross intangible assets with accumulated amortization as of March 31, 2020 and December 31, 2019 is shown below: March 31, 2020 December 31, 2019 (In millions) Useful Life Gross Accumulated Amortization (1)(2) Net Gross Accumulated Amortization Net L&S 6 - 8 years $ 283 $ (54 ) $ 229 $ 283 $ (45 ) $ 238 G&P 6 - 25 years 1,288 (462 ) 826 1,288 (256 ) 1,032 $ 1,571 $ (516 ) $ 1,055 $ 1,571 $ (301 ) $ 1,270 (1) Amortization expense attributable to the G&P and L&S segments for the three months ended March 31, 2020 was $29 million and $9 million , respectively. (2) Impairment charge of $177 million is included within the G&P accumulated amortization. Estimated future amortization expense related to the intangible assets at March 31, 2020 is as follows: (In millions) 2020 $ 96 2021 128 2022 128 2023 128 2024 124 Thereafter 451 Total $ 1,055 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2020 | |
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 14 . The following table presents the financial instruments carried at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 by fair value hierarchy level. MPLX has elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty. March 31, 2020 December 31, 2019 (In millions) Assets Liabilities Assets Liabilities Significant unobservable inputs (Level 3) Embedded derivatives in commodity contracts $ — $ (45 ) $ — $ (60 ) Total carrying value on Consolidated Balance Sheets $ — $ (45 ) $ — $ (60 ) 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 $0.26 to $0.68 per gallon with a weighted average of $0.39 per gallon per the current term of the embedded derivative and (2) the probability of renewal of 95 percent for the first five-year term and 83.5 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 March 31, 2020 or December 31, 2019 . 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 March 31, 2020 Three Months Ended March 31, 2019 (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 $ — $ (60 ) $ — $ (61 ) Total gains/(losses) (realized and unrealized) included in earnings (1) — 14 — (6 ) Settlements — 1 — 2 Fair value at end of period — (45 ) — (65 ) The amount of total gains/(losses) for the period included in earnings attributable to the change in unrealized gains/(losses) relating to liabilities still held at end of period $ — $ 13 $ — $ (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, lease 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 14 ). 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: March 31, 2020 December 31, 2019 (In millions) Fair Value Carrying Value Fair Value Carrying Value Long-term debt $ 18,352 $ 20,560 $ 21,054 $ 19,800 SMR liability $ 77 $ 79 $ 90 $ 80 |
Derivative Financial Instrument
Derivative Financial Instruments | 3 Months Ended |
Mar. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Derivative Financial Instruments As of March 31, 2020 , 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 March 31, 2020 and December 31, 2019 , the estimated fair value of this contract was a liability of $45 million and $60 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 March 31, 2020 and December 31, 2019 , 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) March 31, 2020 December 31, 2019 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 $ — $ (2 ) $ — $ (5 ) Other noncurrent assets / Deferred credits and other liabilities — (43 ) — (55 ) Total $ — $ (45 ) $ — $ (60 ) (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 13 . 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, 2019 . 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 March 31, (In millions) 2020 2019 Product sales Realized (loss)/gain $ — $ — Unrealized (loss)/gain — — Product sales derivative (loss)/gain — — Purchased product costs Realized (loss)/gain (1 ) (2 ) Unrealized gain/(loss) 15 (4 ) Purchased product costs derivative gain/(loss) 14 (6 ) Cost of revenues Realized (loss)/gain — — Unrealized (loss)/gain — — Cost of revenues derivative (loss)/gain — — Total derivative gain/(loss) $ 14 $ (6 ) |
Debt
Debt | 3 Months Ended |
Mar. 31, 2020 | |
Debt Disclosure [Abstract] | |
Debt | Debt MPLX’s outstanding borrowings consist of the following: (In millions) March 31, 2020 December 31, 2019 MPLX LP: Bank revolving credit facility $ 750 $ — Term loan facility 1,000 1,000 Floating rate senior notes 2,000 2,000 Fixed rate senior notes 16,887 16,887 Consolidated subsidiaries: MarkWest 23 23 ANDX 190 190 Financing lease obligations (1) 14 19 Total 20,864 20,119 Unamortized debt issuance costs (103 ) (106 ) Unamortized discount/premium (290 ) (300 ) Amounts due within one year (4 ) (9 ) Total long-term debt due after one year $ 20,467 $ 19,704 (1) See Note 20 for lease information. Credit Agreement Effective July 30, 2019, in connection with the closing of the Merger, MPLX amended and restated its existing revolving credit facility (the “MPLX Credit Agreement”) to, among other things, increase borrowing capacity to up to $3.5 billion and extend its term from July 2022 to July 2024. During the three months ended March 31, 2020 , MPLX borrowed $1,325 million under the MPLX Credit Agreement, at an average interest rate of 2.139 percent , and repaid $575 million . At March 31, 2020 , MPLX had $750 million in outstanding borrowings and less than $1 million in letters of credit outstanding under the MPLX Credit Agreement, resulting in total availability of $2.75 billion , or 78.6 percent of the borrowing capacity . Term Loan Agreement On September 26, 2019, MPLX entered into a Term Loan Agreement which provides for a committed term loan facility for up to an aggregate of $ 1 billion . Borrowings under the Term Loan Agreement bear interest, at MPLX’s election, at either (i) the Adjusted LIBO Rate (as defined in the Term Loan Agreement) plus a margin ranging from 75.0 basis points to 100.0 basis points per annum, depending on MPLX’s credit ratings, or (ii) the Alternate Base Rate (as defined in the Term Loan Agreement). Amounts borrowed under the Term Loan Agreement will be due and payable on September 26, 2021 . As of March 31, 2020 , MPLX had drawn $1.0 billion on the term loan at an average interest rate of 2.273 percent . Floating Rate Senior Notes On September 9, 2019, MPLX issued $2.0 billion aggregate principal amount of floating rate senior notes in a public offering, consisting of $1.0 billion aggregate principal amount of notes due September 2021 and $1.0 billion aggregate principal amount of notes due September 2022 (collectively, the “Floating Rate Senior Notes”). The Floating Rate Senior Notes were offered at a price to the public of 100 percent of par. The Floating Rate Senior Notes are callable, in whole or in part, at par plus accrued and unpaid interest at any time on or after September 10, 2020. Interest on the Floating Rate Senior Notes is payable quarterly in March, June, September and December, commencing on December 9, 2019. The interest rate applicable to the floating rate senior notes due September 2021 is LIBOR plus 0.9 percent per annum . The interest rate applicable to the floating rate senior notes due September 2022 is LIBOR plus 1.1 percent per annum . Fixed Rate Senior Notes MPLX’s senior notes, including those issued by consolidated subsidiaries, consist of various series of senior notes expiring between 2022 and 2058 with interest rates ranging from 3.375 percent to 6.375 percent . Interest on each series of notes is payable semi-annually in arrears on various dates depending on the series of the notes. |
Revenue
Revenue | 3 Months Ended |
Mar. 31, 2020 | |
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 months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 84 $ 528 $ 612 Service revenue - related parties 920 8 928 Service revenue - product related — 39 39 Product sales 15 154 169 Product sales - related parties 4 29 33 Total revenues from contracts with customers $ 1,023 $ 758 1,781 Non-ASC 606 (loss)/revenue (1) (789 ) Total revenues and other income $ 992 Three Months Ended March 31, 2019 (2) (In millions) L&S G&P Total Revenues and other income: Service revenue $ 86 $ 528 $ 614 Service revenue - related parties 803 — 803 Service revenue - product related — 34 34 Product sales 11 205 216 Product sales - related parties 4 37 41 Total revenues from contracts with customers $ 904 $ 804 1,708 Non-ASC 606 revenue (1) 527 Total revenues and other income $ 2,235 (1) Non-ASC 606 Revenue includes rental income, income/(loss) from equity method investments, derivative gains and losses, mark-to-market adjustments, and other income. (2) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. 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 or for deficiency payments associated with minimum volume commitments which have not been billed to customers. 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 tables below reflect the changes in our contract balances for the three-month periods ended March 31, 2020 and 2019: (In millions) Balance at December 31, 2019 (1) Additions/ (Deletions) Revenue Recognized (2) Balance at March 31, 2020 Contract assets $ 39 $ (27 ) $ — $ 12 Deferred revenue 23 5 (3 ) 25 Deferred revenue - related parties 53 12 (16 ) 49 Long-term deferred revenue 90 6 — 96 Long-term deferred revenue - related parties $ 55 $ 1 $ — $ 56 (In millions) Balance at December 31, 2018 (1) Additions/ (Deletions) (3) Revenue Recognized (2)(3) Balance at March 31, 2019 (3) Contract assets $ 36 $ (17 ) $ — $ 19 Deferred revenue 13 1 (1 ) 13 Deferred revenue - related parties 65 9 (16 ) 58 Long-term deferred revenue 56 1 — 57 Long-term deferred revenue - related parties $ 52 $ — $ — $ 52 (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 periods. (3) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. 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 March 31, 2020 , the amounts allocated to contract assets and contract liabilities on the Consolidated Balance Sheets are $224 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 31 years. Further, MPLX does not disclose variable consideration due to volume variability in the table below. (In millions) 2020 $ 1,344 2021 1,747 2022 1,717 2023 1,638 2024 and thereafter 5,662 Total revenue on remaining performance obligations (1),(2),(3) $ 12,108 (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 | 3 Months Ended |
Mar. 31, 2020 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information [Text Block] | Supplemental Cash Flow Information Three Months Ended March 31, (In millions) 2020 2019 Net cash provided by operating activities included: Interest paid (net of amounts capitalized) $ 210 $ 173 Non-cash investing and financing activities: Net transfers of property, plant and equipment from (to) materials and supplies inventories (1 ) 1 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: Three Months Ended March 31, (In millions) 2020 2019 (Decrease)/increase in capital accruals $ (61 ) $ (71 ) |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2020 | |
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, 2019 through March 31, 2020 . (In millions) Pension Other Total Balance at December 31, 2019 (1) $ (14 ) $ (1 ) $ (15 ) Other comprehensive loss - remeasurements (2) — (1 ) (1 ) Balance at March 31, 2020 (1) (14 ) (2 ) (16 ) The following table shows the changes in “Accumulated other comprehensive loss” by component during the period December 31, 2018 through March 31, 2019 . (In millions) Pension Other Total Balance at December 31, 2018 (1) $ (14 ) $ (2 ) $ (16 ) Other comprehensive income - remeasurements (2) — 1 1 Balance at March 31, 2019 (1) $ (14 ) $ (1 ) $ (15 ) (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) |
Equity-Based Compensation Plan
Equity-Based Compensation Plan | 3 Months Ended |
Mar. 31, 2020 | |
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 three months ended March 31, 2020 : Number Weighted Outstanding at December 31, 2019 1,109,568 $ 35.97 Granted 168,212 20.49 Settled (174,888 ) 36.29 Forfeited (335 ) 33.55 Outstanding at March 31, 2020 1,102,557 $ 33.56 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 2020 are hybrid awards having a three-year performance period of January 1, 2020 through December 31, 2022. 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 $0.80 per unit for the 2020 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, due to the nature of the award terms, the grant date for this award was not established until the first quarter of 2020 and we began recognizing units and expense related to this award at that time. The performance units granted in 2018 are hybrid awards having a three-year performance period of January 1, 2018 through December 31, 2020. 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 an average of 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 $0.45 per unit for the 2018 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. The following is a summary of the activity for performance unit awards to be settled in MPLX LP common units for the three months ended March 31, 2020 : Number of Outstanding at December 31, 2019 2,157,347 Granted 2,147,211 Settled (1,169,354 ) Forfeited (18,750 ) Outstanding at March 31, 2020 3,116,454 |
Leases Leases (Notes)
Leases Leases (Notes) | 3 Months Ended |
Mar. 31, 2020 | |
Disclosure Text Block [Abstract] | |
Leases of Lessor Disclosure [Text Block] | Leases For the three months ended March 31, 2020 , reimbursements for projects at certain MPLX refining logistics locations were agreed to between MPLX and MPC. These reimbursements relate to the storage services agreements between MPLX and MPC at these locations and required the embedded leases within these agreements to be reassessed under the leasing standard. As a result of the reassessment, one of our leases was reclassified from an operating lease to a sales-type lease. As a result, the underlying assets previously shown on the Consolidated Balance Sheets associated with the sales-type lease were derecognized and the net investment in the lease (i.e., the sum of the present value of the future lease payments and the unguaranteed residual value of the assets) was recorded as a lease receivable. See Note 5 for the location of lease receivables and unguaranteed residual assets on the Consolidated Balance Sheets. The difference between the net book value of the underlying assets and the net investment in the lease has been recorded as a Contribution from MPC in the Consolidated Statements of Equity given that the transaction related to refining logistics was a common control transaction. During the three months ended March 31, 2020, MPLX derecognized approximately $171 million of property, plant and equipment, recorded a lease receivable of approximately $370 million , recorded an unguaranteed residual asset of approximately $10 million and a Contribution from MPC of $209 million . Lease revenues included on the Consolidated Statements of Income were as follows: Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 (In millions) Related Party Third Party Related Party Third Party Operating leases: Operating lease revenue (1)(2) $ 186 $ 63 $ 279 $ 65 Sales-type leases: Profit/(loss) recognized at the commencement date — N/A N/A N/A Interest income (Sales-type lease revenue- fixed minimum) 38 N/A N/A N/A Interest income (Revenue from variable lease payments) $ — N/A N/A N/A (1) These amounts are presented net of executory costs. (2) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. The following is a schedule of future payments on the sales-type leases with MPC as of March 31, 2020 : (In millions) Related Party 2020 $ 129 2021 157 2022 157 2023 158 2024 158 2025 and thereafter 461 Total minimum future rentals 1,220 Less: present value discount 795 Lease receivable $ 425 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2020 | |
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 because the issues involved have not been fully developed through pleadings, discovery or court proceedings. 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 March 31, 2020 and December 31, 2019 , accrued liabilities for remediation totaled $17 million and $19 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 March 31, 2020 and December 31, 2019 , 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 to MPLX 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. 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, management believes the resolution of these lawsuits and proceedings will not, individually or collectively, have a material adverse effect on its consolidated results of operations, financial position 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 9.19 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 the Bakken Pipeline system. In March 2020, the U.S. District Court for the District of Columbia ordered the U.S. Army Corps of Engineers, which granted permits for the Bakken Pipeline system, to conduct a full environmental impact statement (“EIS”), and further requested briefing on whether an easement permit necessary for the operation of the Bakken Pipeline system should be vacated while the EIS is being prepared. If the permit is vacated pending completion of the EIS and the vacatur is deemed temporary, MPLX would have to contribute its 9.19 percent pro rata share of funds required to pay interest accruing on the notes while the pipeline is shutdown and its 9.19 percent pro rata share of any costs to remediate any deficiencies to reinstate the permit and/or return the pipeline into operation. If the court vacates the permit and such action results in a permanent shutdown of the pipeline, MPLX would have to contribute its 9.19 percent pro rata share of the cost to redeem the bonds (including the 1% redemption premium required pursuant to the indenture governing the notes) and any accrued and unpaid interest, if any. As of March 31, 2020 , our maximum potential undiscounted payments under the Contingent Equity Contribution Agreement were approximately $230 million . Contractual Commitments and Contingencies – At March 31, 2020 , MPLX’s contractual commitments to acquire property, plant and equipment totaled $318 million . These commitments were primarily related to G&P plant expansion, terminal and pipeline projects. 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 March 31, 2020 |
Description of the Business a_2
Description of the Business and Basis of Presentation Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
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, asphalt 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, asphalt 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. Impairments – The recent outbreak of COVID-19 and its development into a pandemic in March 2020 has resulted in significant economic disruption globally. Actions taken by various governmental authorities, individuals and companies around the world to prevent the spread of COVID-19 through social distancing have restricted travel, many business operations, public gatherings and the overall level of individual movement and in-person interaction across the globe. This has significantly reduced global economic activity and resulted in a decline in the demand for the midstream services we provide. Macroeconomic conditions and global geopolitical events have also resulted in significant price volatility related to those aforementioned products. The overall deterioration in the economy and the environment in which MPLX and our customers operate, as well as a sustained decrease in unit price, were considered triggering events resulting in impairments of the carrying value of certain assets. During the first quarter of 2020 we recognized impairments related to goodwill, certain equity method investments and certain long-lived assets (including intangibles), within our G&P segment. Many of our producer customers have continued to refine and update production forecasts in response to the current environment, which has impacted their current and expected future demand for our services, including the future utilization of our assets. Additionally, certain of our contracts have commodity price exposure, including NGL prices, which have experienced increased volatility as noted above. The table below provides information related to the impairments recognized during the first quarter of 2020 as well as the corresponding footnote where additional information can be found. (In millions) Impairment Footnote Reference Goodwill $ 1,814 12 Equity method investments 1,264 4 Intangibles, net 177 12 Property, plant and equipment, net 174 11 Total impairments $ 3,429 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, 2019 . The results of operations for the three months ended March 31, 2020 are not necessarily indicative of the results to be expected for the full year. In relation to the Merger described above and in Note 3 , ANDX’s assets, liabilities and results of operations prior to the Merger are collectively included in what we refer to as the “Predecessor” from October 1, 2018, which was the date that MPC acquired Andeavor. MPLX’s acquisition of ANDX is considered a transfer between entities under common control due to MPC’s relationship with ANDX prior to the Merger. As an entity under common control with MPC, MPLX recorded the assets acquired and liabilities assumed on its consolidated balance sheets at MPC’s historical carrying value. Transfers of businesses between entities under common control require prior periods to be retrospectively adjusted for those dates that the entity was under common control. Accordingly, the accompanying financial statements and related notes of MPLX LP have been retrospectively adjusted to include the historical results of ANDX beginning October 1, 2018. 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 VIEs 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 and Series B 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 and Series B 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, MPLX Series B preferred units, and TexNew Mex 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 income. |
Net Income Per Limited Partne_2
Net Income Per Limited Partner Unit Accounting Policy (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
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 and Series B 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, MPLX Series B preferred units, and TexNew Mex 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 income. |
Equity Method Investments (Tabl
Equity Method Investments (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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 March 31, March 31, December 31, (In millions, except ownership percentages) 2020 2020 2019 L&S MarEn Bakken Company LLC 25% $ 479 $ 481 Illinois Extension Pipeline Company, L.L.C. 35% 271 265 LOOP LLC 41% 239 238 Andeavor Logistics Rio Pipeline LLC (1) 67% 200 202 Minnesota Pipe Line Company, LLC 17% 190 190 Whistler Pipeline LLC (1) 38% 163 134 W2W Holdings LLC (1)(2) 50% 76 — Wink to Webster Pipeline LLC (1)(2) 15% — 126 Explorer Pipeline Company 25% 81 83 Other (1) 55 55 Total L&S 1,754 1,774 G&P MarkWest Utica EMG, L.L.C. (1) 57% 712 1,984 Sherwood Midstream LLC (1) 50% 546 537 MarkWest EMG Jefferson Dry Gas Gathering Company, L.L.C. (1) 67% 302 302 Rendezvous Gas Services, L.L.C. (1) 78% 167 170 Sherwood Midstream Holdings LLC (1) 52% 155 157 Centrahoma Processing LLC 40% 150 153 Other (1) 206 198 Total G&P 2,238 3,501 Total $ 3,992 $ 5,275 (1) Investments deemed to be VIE’s. Some investments included within “Other” have also been deemed to be VIE’s. (2) During the three months ended March 31, 2020, we contributed our ownership in Wink to Webster Pipeline LLC to W2W Holdings LLC. |
Summarized Financial Information For Equity Method Investees Table [Table Text Block] | Summarized financial information for MPLX’s equity method investments for the three months ended March 31, 2020 and 2019 is as follows: Three Months Ended March 31, 2020 (In millions) VIEs Non-VIEs Total Revenues and other income $ (217 ) $ 337 $ 120 Costs and expenses 104 132 236 Income from operations (321 ) 205 (116 ) Net income (337 ) 186 (151 ) (Loss)/income from equity method investments (1) $ (1,222 ) $ 38 $ (1,184 ) (1) Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million . Three Months Ended March 31, 2019 (1) (In millions) VIEs Non-VIEs Total Revenues and other income $ 155 $ 391 $ 546 Costs and expenses 77 198 275 Income from operations 78 193 271 Net income 71 181 252 Income from equity method investments $ 27 $ 50 $ 77 (1) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. Summarized balance sheet information for MPLX’s equity method investments as of March 31, 2020 and December 31, 2019 is as follows: March 31, 2020 (In millions) VIEs Non-VIEs Total Current assets $ 320 $ 325 $ 645 Noncurrent assets 5,384 5,115 10,499 Current liabilities 153 195 348 Noncurrent liabilities $ 544 $ 859 $ 1,403 December 31, 2019 (In millions) VIEs Non-VIEs Total Current assets $ 534 $ 330 $ 864 Noncurrent assets 5,862 5,134 10,996 Current liabilities 192 245 437 Noncurrent liabilities $ 305 $ 822 $ 1,127 |
Related Party Agreements and _2
Related Party Agreements and Transactions (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Related Party Transactions [Abstract] | |
Other Long-term Debt, Noncurrent | Activity on the MPC Loan Agreement was as follows: (In millions) Three Months Ended March 31, 2020 Year Ended December 31, 2019 Borrowings $ 1,667 $ 8,540 Average interest rate of borrowings 2.833 % 3.441 % Repayments $ 2,261 $ 7,946 Outstanding balance at end of period (1) $ — $ 594 (1) Included in “Current liabilities - related parties” on the Consolidated Balance Sheets. Prior to the Merger, ANDX was also party to a loan agreement with MPC (“ANDX-MPC Loan Agreement”). This facility was entered into on December 21, 2018, with a borrowing capacity of $500 million . In connection with the Merger, on July 31, 2019, MPLX repaid the entire outstanding balance and terminated the ANDX-MPC Loan Agreement. Activity on the ANDX-MPC Loan Agreement prior to the Merger was as follows: (In millions) Year Ended December 31, 2019 Borrowings $ 773 Average interest rate of borrowings 4.249 % Repayments $ 773 Outstanding balance at end of period $ — |
Schedule of Sales to Related Parties | Revenue received from related parties included on the Consolidated Statements of Income was as follows: Three Months Ended March 31, (In millions) 2020 2019 Service revenues - related parties MPC $ 927 $ 803 Other 1 — Total Service revenue - related parties 928 803 Rental income - related parties MPC 234 325 Product sales - related parties (1) MPC 33 41 Other income - related parties MPC 48 10 Other 16 16 Total Other income - related parties $ 64 $ 26 (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 months ended March 31, 2020 , these sales totaled $173 million . For the three months ended March 31, 2019 , these sales totaled $223 million . |
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 March 31, (In millions) 2020 2019 Rental cost of sales - related parties MPC $ 46 $ 43 Purchases - related parties MPC 271 273 Other 5 5 Total Purchase - related parties 276 278 General and administrative expenses MPC $ 64 $ 62 |
Schedule of Related Party Transactions [Table Text Block] | (In millions) March 31, 2020 December 31, 2019 Current assets - related parties Receivables - MPC $ 538 $ 621 Receivables - Other 21 22 Prepaid - MPC 15 9 Lease Receivables - MPC 26 4 Total 600 656 Noncurrent assets - related parties Long-term receivables - MPC 28 21 Right of use assets - MPC 231 232 Long-term lease receivables - MPC 399 43 Unguaranteed residual asset - MPC 19 7 Total 677 303 Current liabilities - related parties Payables - MPC 227 911 Payables - Other 16 37 Operating lease liabilities - MPC 1 1 Deferred revenue - Minimum volume deficiencies - MPC 38 42 Deferred revenue - Project reimbursements - MPC 14 16 Deferred revenue - Project reimbursements - Other 1 1 Total 297 1,008 Long-term liabilities - related parties Long-term operating lease liabilities - MPC 230 230 Long-term deferred revenue - Project reimbursements - MPC 54 53 Long-term deferred revenue - Project reimbursements - Other 6 7 Total $ 290 $ 290 |
Net Income Per Limited Partne_3
Net Income Per Limited Partner Unit (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Schedule of Distributions By Partner By Class | For the three months ended March 31, 2020 and 2019 , 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 months ended March 31, 2020 and 2019 were 1 million and less than 1 million , respectively. Three Months Ended March 31, (In millions) 2020 2019 Net income attributable to MPLX LP $ (2,724 ) $ 503 Less: Distributions declared on Series A preferred units (1) 20 20 Distributions declared on Series B preferred units (1) 11 — Limited partners’ distributions declared on MPLX common units (including common units of general partner) (1) 728 523 Undistributed net loss attributable to MPLX LP $ (3,483 ) $ (40 ) (1) See Note 7 for distribution information. |
Schedule of Basic and Diluted Earnings Per Unit | Three Months Ended March 31, 2020 (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 $ 728 $ 20 $ 11 $ 759 Undistributed net loss attributable to MPLX LP (3,483 ) — — (3,483 ) Net income attributable to MPLX LP (1) $ (2,755 ) $ 20 $ 11 $ (2,724 ) Weighted average units outstanding: Basic 1,058 Diluted 1,058 Net income attributable to MPLX LP per limited partner unit: Basic $ (2.60 ) Diluted $ (2.60 ) (1) Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the distribution priorities applicable to the period. Three Months Ended March 31, 2019 (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 $ 523 $ 20 $ 543 Undistributed net loss attributable to MPLX LP (40 ) — (40 ) Net income attributable to MPLX LP (1) $ 483 $ 20 $ 503 Weighted average units outstanding: Basic 794 Diluted 795 Net income attributable to MPLX LP per limited partner unit: Basic $ 0.61 Diluted $ 0.61 (1) Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the distribution priorities applicable to the period. |
Equity (Tables)
Equity (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Equity [Abstract] | |
Schedule of Stockholders Equity [Table Text Block] | The changes in the number of common units outstanding during the three months ended March 31, 2020 are summarized below: (In units) Common Balance at December 31, 2019 1,058,355,471 Unit-based compensation awards 151,878 Balance at March 31, 2020 1,058,507,349 Merger In connection with the Merger and as discussed in Note 3 , each common unit held by ANDX’s public unitholders was converted into the right to receive 1.135 MPLX common units while ANDX common units held by certain affiliates of MPC were converted into the right to receive 1.0328 MPLX common units. This resulted in the issuance of MPLX common units of approximately 102 million units to public unitholders and approximately 161 million units to MPC on July 30, 2019. Series B Preferred Units Prior to the Merger, ANDX had outstanding 600,000 units of 6.875 percent Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests of ANDX at a price to the public of $1,000 per unit. Upon completion of the Merger, the ANDX preferred units converted to preferred units of MPLX representing substantially equivalent limited partnership interests in MPLX (the “Series B preferred units”). The Series B preferred units are pari passu with the Series A preferred units with respect to distribution rights and rights upon liquidation. Distributions on the Series B preferred units are payable semi-annually in arrears on the 15th day, or the first business day thereafter, of February and August of each year up to and including February 15, 2023. After February 15, 2023, the holders of Series B preferred units are entitled to receive cumulative, quarterly distributions payable in arrears on the 15th day of February, May, August and November of each year, or the first business day thereafter, based on a floating annual rate equal to the three-month LIBOR plus 4.652 percent . The changes in the Series B preferred unit balance from December 31, 2019 through March 31, 2020 are summarized below. Series B preferred units are included in the Consolidated Balance Sheets and Consolidated Statements of Equity within “Equity of Predecessor” for the period prior to the Merger and within “Series B preferred units” for the period following the Merger. (In millions) Series B Preferred Units Balance at December 31, 2019 $ 611 Net income allocated 11 Distributions received by Series B preferred unitholders (21 ) Balance at March 31, 2020 $ 601 |
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 months ended March 31, 2020 and 2019 . 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. Three Months Ended March 31, (In millions) 2020 2019 (1) Common and preferred unit distributions: Common unitholders, includes common units of general partner $ 728 $ 523 Series A preferred unit distributions 20 20 Series B preferred unit distributions 11 — Total cash distributions declared $ 759 $ 543 (1) The distribution on common units for the three months ended March 31, 2019 does not include the impact of the issuance of units in connection with the merger. |
Series A Preferred Units (Table
Series A Preferred Units (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Temporary Equity Disclosure [Abstract] | |
Rollforward of Redeemable Preferred Units | The changes in the redeemable preferred balance from December 31, 2019 through March 31, 2020 are summarized below: (In millions) Redeemable Series A Preferred Units Balance at December 31, 2019 $ 968 Net income allocated 20 Distributions received by Series A preferred unitholders (20 ) Balance at March 31, 2020 $ 968 |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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 investments in unconsolidated affiliates as well as total assets for our reportable segments: Three Months Ended March 31, (In millions) 2020 2019 (1) L&S Service revenue $ 1,004 $ 889 Rental income 242 335 Product related revenue 19 15 Income from equity method investments 50 45 Other income 51 12 Total segment revenues and other income (2) 1,366 1,296 Segment Adjusted EBITDA (3) 872 559 Capital expenditures 184 198 Investments in unconsolidated affiliates 54 7 G&P Service revenue 536 528 Rental income 88 89 Product related revenue 222 276 (Loss)/income from equity method investments (1,234 ) 32 Other income 14 14 Total segment revenues and other (loss)/income (2) (374 ) 939 Segment Adjusted EBITDA (3) 422 371 Capital expenditures 134 306 Investments in unconsolidated affiliates $ 37 $ 128 (1) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. (2) Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $158 million and $153 million for the three months ended March 31, 2020 and 2019, respectively. Third party losses for the G&P segment were $425 million for the three months ended March 31, 2020 and third party revenues were $887 million for the three months ended March 31, 2019. (3) See below for the reconciliation from Segment Adjusted EBITDA to net income. |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | (In millions) March 31, 2020 December 31, 2019 Segment assets Cash and cash equivalents $ 57 $ 15 L&S 20,891 20,810 G&P 16,058 19,605 Total assets $ 37,006 $ 40,430 |
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block] | The table below provides a reconciliation between net (loss)/income and Segment Adjusted EBITDA. Three Months Ended March 31, (In millions) 2020 2019 (1) Reconciliation to Net (loss)/income: L&S Segment Adjusted EBITDA $ 872 $ 559 G&P Segment Adjusted EBITDA 422 371 Total reportable segments 1,294 930 Depreciation and amortization (2) (325 ) (301 ) Benefit for income taxes — 1 Amortization of deferred financing costs (14 ) (7 ) Non-cash equity-based compensation (5 ) (7 ) Impairment expense (2,165 ) — Net interest and other financial costs (216 ) (217 ) (Loss)/income from equity method investments (1,184 ) 77 Distributions/adjustments related to equity method investments (124 ) (122 ) Unrealized derivative gains/(losses) (3) 15 (4 ) Acquisition costs — (1 ) Other (1 ) — Adjusted EBITDA attributable to noncontrolling interests 9 7 Adjusted EBITDA attributable to Predecessor (4) — 333 Net (loss)/income $ (2,716 ) $ 689 (1) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. (2) Depreciation and amortization attributable to L&S was $138 million and $126 million for the three months ended March 31, 2020 and 2019, respectively. Depreciation and amortization attributable to G&P was $187 million and $175 million for the three months ended March 31, 2020 and 2019, respectively. (3) 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. (4) The adjusted EBITDA adjustments related to Predecessor are excluded from adjusted EBITDA attributable to MPLX LP prior to the Merger. |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Inventory Disclosure [Abstract] | |
Summary of Inventories | Inventories consist of the following: (In millions) March 31, 2020 December 31, 2019 NGLs $ 1 $ 5 Line fill 6 10 Spare parts, materials and supplies 98 95 Total inventories $ 105 $ 110 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Summary of Property, Plant and Equipment | Property, plant and equipment with associated accumulated depreciation is shown below: (In millions) Estimated Useful Lives March 31, 2020 December 31, 2019 L&S Pipelines 2-51 years $ 5,637 $ 5,572 Refining Logistics 13-40 years 2,308 2,870 Terminals 2-40 years 1,176 1,109 Marine 15-20 years 960 906 Land, building and other 1-61 years 1,827 1,817 Construction-in progress 618 660 Total L&S property, plant and equipment 12,526 12,934 G&P Gathering and transportation 5-40 years 7,349 7,159 Processing and fractionation 15-40 years 5,605 5,545 Land, building and other 3-40 years 491 484 Construction-in-progress 616 745 Total G&P property, plant and equipment 14,061 13,933 Total property, plant and equipment 26,587 26,867 Less accumulated depreciation (1) 4,758 4,722 Property, plant and equipment, net $ 21,829 $ 22,145 (1) The March 31, 2020 balance includes property, plant and equipment impairment charges recorded during the first quarter of 2020 as discussed below. |
Goodwill and Intangibles (Table
Goodwill and Intangibles (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Finite-Lived Intangible Assets [Line Items] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Gross intangible assets with accumulated amortization as of March 31, 2020 and December 31, 2019 is shown below: March 31, 2020 December 31, 2019 (In millions) Useful Life Gross Accumulated Amortization (1)(2) Net Gross Accumulated Amortization Net L&S 6 - 8 years $ 283 $ (54 ) $ 229 $ 283 $ (45 ) $ 238 G&P 6 - 25 years 1,288 (462 ) 826 1,288 (256 ) 1,032 $ 1,571 $ (516 ) $ 1,055 $ 1,571 $ (301 ) $ 1,270 (1) Amortization expense attributable to the G&P and L&S segments for the three months ended March 31, 2020 was $29 million and $9 million , respectively. (2) Impairment charge of $177 million is included within the G&P accumulated amortization. |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Estimated future amortization expense related to the intangible assets at March 31, 2020 is as follows: (In millions) 2020 $ 96 2021 128 2022 128 2023 128 2024 124 Thereafter 451 Total $ 1,055 |
Goodwill and Intangibles Goodwi
Goodwill and Intangibles Goodwill and Intangibles (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Goodwill [Line Items] | |
Schedule of Goodwill [Table Text Block] | The changes in carrying amount of goodwill were as follows: (In millions) L&S G&P Total Gross goodwill as of December 31, 2018 $ 7,234 $ 2,912 $ 10,146 Accumulated impairment losses — (130 ) (130 ) Balance as of December 31, 2018 7,234 2,782 10,016 Impairment losses — (1,197 ) (1,197 ) Acquisitions 488 229 717 Balance as of December 31, 2019 7,722 1,814 9,536 Impairment losses — (1,814 ) (1,814 ) Balance as of March 31, 2020 7,722 — 7,722 Gross goodwill as of March 31, 2020 7,722 3,141 10,863 Accumulated impairment losses — (3,141 ) (3,141 ) Balance as of March 31, 2020 $ 7,722 $ — $ 7,722 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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 March 31, 2020 and December 31, 2019 by fair value hierarchy level. MPLX has elected to offset the fair value amounts recognized for multiple derivative contracts executed with the same counterparty. March 31, 2020 December 31, 2019 (In millions) Assets Liabilities Assets Liabilities Significant unobservable inputs (Level 3) Embedded derivatives in commodity contracts $ — $ (45 ) $ — $ (60 ) Total carrying value on Consolidated Balance Sheets $ — $ (45 ) $ — $ (60 ) |
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 $0.26 to $0.68 per gallon with a weighted average of $0.39 per gallon per the current term of the embedded derivative and (2) the probability of renewal of 95 percent for the first five-year term and 83.5 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 March 31, 2020 or December 31, 2019 . |
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 March 31, 2020 Three Months Ended March 31, 2019 (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 $ — $ (60 ) $ — $ (61 ) Total gains/(losses) (realized and unrealized) included in earnings (1) — 14 — (6 ) Settlements — 1 — 2 Fair value at end of period — (45 ) — (65 ) The amount of total gains/(losses) for the period included in earnings attributable to the change in unrealized gains/(losses) relating to liabilities still held at end of period $ — $ 13 $ — $ (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 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: March 31, 2020 December 31, 2019 (In millions) Fair Value Carrying Value Fair Value Carrying Value Long-term debt $ 18,352 $ 20,560 $ 21,054 $ 19,800 SMR liability $ 77 $ 79 $ 90 $ 80 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | As of March 31, 2020 , 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) March 31, 2020 December 31, 2019 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 $ — $ (2 ) $ — $ (5 ) Other noncurrent assets / Deferred credits and other liabilities — (43 ) — (55 ) Total $ — $ (45 ) $ — $ (60 ) (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 March 31, (In millions) 2020 2019 Product sales Realized (loss)/gain $ — $ — Unrealized (loss)/gain — — Product sales derivative (loss)/gain — — Purchased product costs Realized (loss)/gain (1 ) (2 ) Unrealized gain/(loss) 15 (4 ) Purchased product costs derivative gain/(loss) 14 (6 ) Cost of revenues Realized (loss)/gain — — Unrealized (loss)/gain — — Cost of revenues derivative (loss)/gain — — Total derivative gain/(loss) $ 14 $ (6 ) |
Debt (Tables)
Debt (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Debt Disclosure [Abstract] | |
Summary of Outstanding Borrowings | MPLX’s outstanding borrowings consist of the following: (In millions) March 31, 2020 December 31, 2019 MPLX LP: Bank revolving credit facility $ 750 $ — Term loan facility 1,000 1,000 Floating rate senior notes 2,000 2,000 Fixed rate senior notes 16,887 16,887 Consolidated subsidiaries: MarkWest 23 23 ANDX 190 190 Financing lease obligations (1) 14 19 Total 20,864 20,119 Unamortized debt issuance costs (103 ) (106 ) Unamortized discount/premium (290 ) (300 ) Amounts due within one year (4 ) (9 ) Total long-term debt due after one year $ 20,467 $ 19,704 (1) See Note 20 for lease information. |
Revenue (Tables)
Revenue (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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 months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 (In millions) L&S G&P Total Revenues and other income: Service revenue $ 84 $ 528 $ 612 Service revenue - related parties 920 8 928 Service revenue - product related — 39 39 Product sales 15 154 169 Product sales - related parties 4 29 33 Total revenues from contracts with customers $ 1,023 $ 758 1,781 Non-ASC 606 (loss)/revenue (1) (789 ) Total revenues and other income $ 992 Three Months Ended March 31, 2019 (2) (In millions) L&S G&P Total Revenues and other income: Service revenue $ 86 $ 528 $ 614 Service revenue - related parties 803 — 803 Service revenue - product related — 34 34 Product sales 11 205 216 Product sales - related parties 4 37 41 Total revenues from contracts with customers $ 904 $ 804 1,708 Non-ASC 606 revenue (1) 527 Total revenues and other income $ 2,235 (1) Non-ASC 606 Revenue includes rental income, income/(loss) from equity method investments, derivative gains and losses, mark-to-market adjustments, and other income. (2) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Contract with Customer, Asset and Liability [Table Text Block] | The tables below reflect the changes in our contract balances for the three-month periods ended March 31, 2020 and 2019: (In millions) Balance at December 31, 2019 (1) Additions/ (Deletions) Revenue Recognized (2) Balance at March 31, 2020 Contract assets $ 39 $ (27 ) $ — $ 12 Deferred revenue 23 5 (3 ) 25 Deferred revenue - related parties 53 12 (16 ) 49 Long-term deferred revenue 90 6 — 96 Long-term deferred revenue - related parties $ 55 $ 1 $ — $ 56 (In millions) Balance at December 31, 2018 (1) Additions/ (Deletions) (3) Revenue Recognized (2)(3) Balance at March 31, 2019 (3) Contract assets $ 36 $ (17 ) $ — $ 19 Deferred revenue 13 1 (1 ) 13 Deferred revenue - related parties 65 9 (16 ) 58 Long-term deferred revenue 56 1 — 57 Long-term deferred revenue - related parties $ 52 $ — $ — $ 52 (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 periods. (3) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | As of March 31, 2020 , the amounts allocated to contract assets and contract liabilities on the Consolidated Balance Sheets are $224 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 31 years. Further, MPLX does not disclose variable consideration due to volume variability in the table below. (In millions) 2020 $ 1,344 2021 1,747 2022 1,717 2023 1,638 2024 and thereafter 5,662 Total revenue on remaining performance obligations (1),(2),(3) $ 12,108 (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) | 3 Months Ended |
Mar. 31, 2020 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Supplemental Cash Flow Information [Table Text Block] | Three Months Ended March 31, (In millions) 2020 2019 Net cash provided by operating activities included: Interest paid (net of amounts capitalized) $ 210 $ 173 Non-cash investing and financing activities: Net transfers of property, plant and equipment from (to) materials and supplies inventories (1 ) 1 |
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: Three Months Ended March 31, (In millions) 2020 2019 (Decrease)/increase in capital accruals $ (61 ) $ (71 ) |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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, 2019 through March 31, 2020 . (In millions) Pension Other Total Balance at December 31, 2019 (1) $ (14 ) $ (1 ) $ (15 ) Other comprehensive loss - remeasurements (2) — (1 ) (1 ) Balance at March 31, 2020 (1) (14 ) (2 ) (16 ) The following table shows the changes in “Accumulated other comprehensive loss” by component during the period December 31, 2018 through March 31, 2019 . (In millions) Pension Other Total Balance at December 31, 2018 (1) $ (14 ) $ (2 ) $ (16 ) Other comprehensive income - remeasurements (2) — 1 1 Balance at March 31, 2019 (1) $ (14 ) $ (1 ) $ (15 ) (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) |
Equity-Based Compensation Plan
Equity-Based Compensation Plan (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
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 three months ended March 31, 2020 : Number Weighted Outstanding at December 31, 2019 1,109,568 $ 35.97 Granted 168,212 20.49 Settled (174,888 ) 36.29 Forfeited (335 ) 33.55 Outstanding at March 31, 2020 1,102,557 $ 33.56 |
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 three months ended March 31, 2020 : Number of Outstanding at December 31, 2019 2,157,347 Granted 2,147,211 Settled (1,169,354 ) Forfeited (18,750 ) Outstanding at March 31, 2020 3,116,454 |
Leases Lessor Disclosure (Table
Leases Lessor Disclosure (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Lessor Disclosure [Abstract] | |
Operating Lease, Lease Income [Table Text Block] | Lease revenues included on the Consolidated Statements of Income were as follows: Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 (In millions) Related Party Third Party Related Party Third Party Operating leases: Operating lease revenue (1)(2) $ 186 $ 63 $ 279 $ 65 Sales-type leases: Profit/(loss) recognized at the commencement date — N/A N/A N/A Interest income (Sales-type lease revenue- fixed minimum) 38 N/A N/A N/A Interest income (Revenue from variable lease payments) $ — N/A N/A N/A (1) These amounts are presented net of executory costs. (2) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Sales-type Lease, Lease Income [Table Text Block] | Lease revenues included on the Consolidated Statements of Income were as follows: Three Months Ended March 31, 2020 Three Months Ended March 31, 2019 (In millions) Related Party Third Party Related Party Third Party Operating leases: Operating lease revenue (1)(2) $ 186 $ 63 $ 279 $ 65 Sales-type leases: Profit/(loss) recognized at the commencement date — N/A N/A N/A Interest income (Sales-type lease revenue- fixed minimum) 38 N/A N/A N/A Interest income (Revenue from variable lease payments) $ — N/A N/A N/A (1) These amounts are presented net of executory costs. (2) Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Sales-type and Direct Financing Leases, Lease Receivable, Maturity [Table Text Block] | The following is a schedule of future payments on the sales-type leases with MPC as of March 31, 2020 : (In millions) Related Party 2020 $ 129 2021 157 2022 157 2023 158 2024 158 2025 and thereafter 461 Total minimum future rentals 1,220 Less: present value discount 795 Lease receivable $ 425 |
Description of Business and Bas
Description of Business and Basis of Presentation - Additional Information (Detail) $ in Millions | Jul. 30, 2019shares | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Description Of Business And Basis Of Presentation [Line Items] | |||
Goodwill, Impairment Loss | $ 1,814 | $ 1,197 | |
Equity Method Investment, Other than Temporary Impairment | 1,264 | ||
Impairment of Intangible Assets, Finite-lived | $ 177 | ||
Number of reportable segments | 2 | ||
Impairment of Long-Lived Assets Held-for-use | $ 174 | ||
Impairment Charges | 3,429 | ||
G&P | |||
Description Of Business And Basis Of Presentation [Line Items] | |||
Goodwill, Impairment Loss | $ 1,814 | $ 1,197 | |
ANDX LP [Member] | Public | |||
Description Of Business And Basis Of Presentation [Line Items] | |||
Common Units Conversion Ratio - ANDX to MPLX | shares | 1.135 | ||
ANDX LP [Member] | Nonpublic [Member] | |||
Description Of Business And Basis Of Presentation [Line Items] | |||
Common Units Conversion Ratio - ANDX to MPLX | shares | 1.0328 |
Accounting Standards Impact of
Accounting Standards Impact of Adoption (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Accounting Changes and Error Corrections [Abstract] | ||
Receivables, net | $ 522 | $ 593 |
Accounts Receivable, Allowance for Credit Loss | $ 1 |
Acquisitions Andeavor Logistics
Acquisitions Andeavor Logistics (Details) - USD ($) $ in Millions | Jul. 30, 2019 | Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Sep. 09, 2019 | Dec. 31, 2018 | |||
Business Acquisition [Line Items] | |||||||||
Cash and cash equivalents | $ 57 | $ 15 | |||||||
Receivables, net | 522 | 593 | |||||||
Inventories | 105 | 110 | |||||||
Other current assets | 45 | 110 | |||||||
Assets, Current | 1,329 | 1,484 | |||||||
Equity method investments | 3,992 | 5,275 | |||||||
Property, plant and equipment, net | 21,829 | 22,145 | |||||||
Intangibles, net | 1,055 | 1,270 | |||||||
Other noncurrent assets | 50 | 52 | |||||||
Assets | 37,006 | 40,430 | |||||||
Accounts payable | 138 | 242 | |||||||
Accrued Liabilities, Current | 135 | 187 | |||||||
Accrued interest payable | 214 | 210 | |||||||
Other current liabilities | 129 | 136 | |||||||
Liabilities, Current | 1,214 | 2,132 | |||||||
Long-term deferred revenue | 241 | 217 | |||||||
Liabilities, Related Parties, Noncurrent | 290 | 290 | |||||||
Long-term debt | 20,467 | 19,704 | |||||||
Deferred credits and other liabilities | 175 | 192 | |||||||
Liabilities | 22,682 | 22,849 | |||||||
Series A preferred units | 968 | 968 | |||||||
Total MPLX LP partners’ capital | 13,108 | 16,364 | |||||||
Accumulated other comprehensive loss | [1] | (16) | $ (15) | (15) | $ (16) | ||||
Revenues | 992 | 2,235 | [2],[3] | ||||||
Goodwill | 7,722 | 9,536 | 10,016 | ||||||
Net Income (Loss) Attributable to Parent | (2,724) | [4] | 503 | [2],[5] | |||||
Acquisition Costs, Period Cost | 0 | 1 | [6] | ||||||
Noncontrolling interests | 248 | 249 | |||||||
Partners' Capital, Including Portion Attributable to Noncontrolling Interest | 13,356 | 17,730 | [7] | 16,613 | 17,731 | ||||
Liabilities and Equity | 37,006 | 40,430 | |||||||
Net income/(loss) | (2,716) | 689 | [2],[6],[8],[9] | ||||||
Andeavor Logistics [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Revenues | 589 | ||||||||
Acquisition Costs, Period Cost | 1 | ||||||||
Net income/(loss) | $ 180 | ||||||||
ANDX LP [Member] | Public | |||||||||
Business Acquisition [Line Items] | |||||||||
Common Units Conversion Ratio - ANDX to MPLX | 1.135 | ||||||||
ANDX LP [Member] | Nonpublic [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Common Units Conversion Ratio - ANDX to MPLX | 1.0328 | ||||||||
Senior Notes [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Long-term Debt, Gross | $ 2,000 | ||||||||
L&S | |||||||||
Business Acquisition [Line Items] | |||||||||
Intangibles, net | 229 | 238 | |||||||
Goodwill | $ 7,722 | 7,722 | 7,234 | ||||||
L&S | Minimum [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Finite-Lived Intangible Asset, Useful Life | 6 years | ||||||||
L&S | Maximum [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Finite-Lived Intangible Asset, Useful Life | 8 years | ||||||||
G&P | |||||||||
Business Acquisition [Line Items] | |||||||||
Intangibles, net | $ 826 | 1,032 | |||||||
Goodwill | $ 0 | $ 1,814 | $ 2,782 | ||||||
G&P | Minimum [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Finite-Lived Intangible Asset, Useful Life | 6 years | ||||||||
G&P | Maximum [Member] | |||||||||
Business Acquisition [Line Items] | |||||||||
Finite-Lived Intangible Asset, Useful Life | 25 years | ||||||||
[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] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||||||
[3] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||||||
[4] | Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the distribution priorities applicable to the period. | ||||||||
[5] | Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the distribution priorities applicable to the period. | ||||||||
[6] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||||||
[7] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||||||
[8] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||||||
[9] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Equity Method Investments - Sum
Equity Method Investments - Summary of Equity Method Investment Financial Information (Details) - USD ($) $ in Millions | 3 Months Ended | |||||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | ||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | $ 3,992 | $ 5,275 | ||||
Revenues and other income | 120 | $ 546 | [1] | |||
Costs and expenses | 236 | 275 | [1] | |||
Income (loss) from operations | (116) | 271 | [1] | |||
Net income (loss) | (151) | 252 | [1] | |||
Income/(loss) from equity method investments(2) | (1,184) | [2],[3],[4] | 77 | [1],[5],[6],[7] | ||
Current assets | 645 | 864 | ||||
Noncurrent assets | 10,499 | 10,996 | ||||
Current liabilities | 348 | 437 | ||||
Noncurrent liabilities | 1,403 | 1,127 | ||||
Equity Method Investment, Other than Temporary Impairment | $ 1,264 | |||||
MarEn Bakken Company LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 25.00% | |||||
Illinois Extension | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 35.00% | |||||
LOOP | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 41.00% | |||||
Whistler Pipeline LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 38.00% | |||||
W2W Holdings LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 50.00% | |||||
Wink to Webster Pipeline LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 15.00% | |||||
Explorer | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 25.00% | |||||
MarkWest Utica EMG | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 57.00% | |||||
Equity Method Investment, Other than Temporary Impairment | $ 1,251 | |||||
Sherwood Midstream | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 50.00% | |||||
Jefferson Dry Gas | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 67.00% | |||||
Centrahoma Processing LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 40.00% | |||||
Other VIEs [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Revenues and other income | $ (217) | 155 | [1] | |||
Costs and expenses | 104 | 77 | [1] | |||
Income (loss) from operations | (321) | 78 | [1] | |||
Net income (loss) | (337) | 71 | [1] | |||
Income/(loss) from equity method investments(2) | (1,222) | [4] | 27 | [1] | ||
Current assets | 320 | 534 | ||||
Noncurrent assets | 5,384 | 5,862 | ||||
Current liabilities | 153 | 192 | ||||
Noncurrent liabilities | 544 | 305 | ||||
Non-VIEs [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Revenues and other income | 337 | 391 | [1] | |||
Costs and expenses | 132 | 198 | [1] | |||
Income (loss) from operations | 205 | 193 | [1] | |||
Net income (loss) | 186 | 181 | [1] | |||
Income/(loss) from equity method investments(2) | 38 | 50 | [1] | |||
Current assets | 325 | 330 | ||||
Noncurrent assets | 5,115 | 5,134 | ||||
Current liabilities | 195 | 245 | ||||
Noncurrent liabilities | $ 859 | 822 | ||||
Indirect Ownership Interest [Member] | Sherwood Midstream Holdings | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 24.10% | |||||
Direct Ownership Interest [Member] | Andeavor Logistics Rio Pipeline [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 67.00% | |||||
Direct Ownership Interest [Member] | Minnesota Pipe Line Company, LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 17.00% | |||||
Direct Ownership Interest [Member] | Rendezvous Gas Services, L.L.C. [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 78.00% | |||||
Direct Ownership Interest [Member] | Sherwood Midstream Holdings | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investment, ownership percentage | 52.00% | |||||
G&P | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Difference between carrying amount and underlying equity | $ (60) | 1,000 | ||||
Difference between carrying amount and underlying equity portion related to goodwill | 31 | 498 | ||||
G&P | MarkWest Utica EMG | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | [8] | 712 | 1,984 | |||
G&P | Sherwood Midstream | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | [8] | 546 | 537 | |||
G&P | Jefferson Dry Gas | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | [8] | 302 | 302 | |||
G&P | Rendezvous Gas Services, L.L.C. [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | [8] | 167 | 170 | |||
G&P | Sherwood Midstream Holdings | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | [8] | 155 | 157 | |||
G&P | Centrahoma Processing LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | 150 | 153 | ||||
G&P | Other VIEs and Non-VIEs [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | [8] | 206 | 198 | |||
L&S | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Difference between carrying amount and underlying equity | 330 | 329 | ||||
Difference between carrying amount and underlying equity portion related to goodwill | 167 | 167 | ||||
L&S | MarEn Bakken Company LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | 479 | 481 | ||||
L&S | Illinois Extension | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | 271 | 265 | ||||
L&S | LOOP | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | 239 | 238 | ||||
L&S | Andeavor Logistics Rio Pipeline [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | [8] | 200 | 202 | |||
L&S | Minnesota Pipe Line Company, LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | 190 | 190 | ||||
L&S | Whistler Pipeline LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | [8] | 163 | 134 | |||
L&S | W2W Holdings LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | [8],[9] | 76 | 0 | |||
L&S | Wink to Webster Pipeline LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | [8],[9] | 0 | 126 | |||
L&S | Explorer | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | 81 | 83 | ||||
L&S | Other VIEs and Non-VIEs [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | [8] | 55 | 55 | |||
Operating Segments | G&P | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | 2,238 | 3,501 | ||||
Income/(loss) from equity method investments(2) | (1,234) | 32 | [7] | |||
Operating Segments | L&S | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity method investments | 1,754 | $ 1,774 | ||||
Income/(loss) from equity method investments(2) | $ 50 | $ 45 | [7] | |||
[1] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | |||||
[2] | The 2020 period includes $1,264 million of impairment expense. See Note 4. | |||||
[3] | The 2020 period includes $1,264 million of impairment expense. See Note 4. | |||||
[4] | Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million . | |||||
[5] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | |||||
[6] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | |||||
[7] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | |||||
[8] | Investments deemed to be VIE’s. Some investments included within “Other” have also been deemed to be VIE’s. | |||||
[9] | During the three months ended March 31, 2020, we contributed our ownership in Wink to Webster Pipeline LLC to W2W Holdings LLC. |
Related Party Agreements and _3
Related Party Agreements and Transactions MPC Loan Agreement (Details) - Related Party Revolving Credit Agreement [Member] - MPC Investment [Member] - USD ($) $ in Millions | Jul. 31, 2019 | Apr. 27, 2018 | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 21, 2018 | |
Related Party Transaction [Line Items] | ||||||
Line of Credit Facility, Current Borrowing Capacity | $ 1,500 | |||||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 1.25 percent | LIBOR plus 1.50 percent | ||||
Proceeds from Lines of Credit | $ 1,667 | $ 8,540 | ||||
Line of Credit Facility, Interest Rate During Period | 2.833% | 3.441% | ||||
Repayments of Lines of Credit | $ 2,261 | $ 7,946 | ||||
Long-term Line of Credit | [1] | $ 0 | 594 | |||
ANDX LP [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Line of Credit Facility, Current Borrowing Capacity | $ 500 | |||||
Proceeds from Lines of Credit | $ 773 | |||||
Line of Credit Facility, Interest Rate During Period | 4.249% | |||||
Repayments of Lines of Credit | $ 773 | |||||
Long-term Line of Credit | [1] | $ 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 | |||
Mar. 31, 2020 | Mar. 31, 2019 | |||
Related Party Transaction [Line Items] | ||||
Rental income - related parties | $ 234 | $ 325 | [1] | |
Other income - related parties | 64 | 26 | [1] | |
MPC | ||||
Related Party Transaction [Line Items] | ||||
Rental income - related parties | 234 | 325 | ||
Other income - related parties | 48 | 10 | ||
Product sales to MPC that net to zero | 173 | 223 | ||
Other Affiliates [Member] | ||||
Related Party Transaction [Line Items] | ||||
Other income - related parties | 16 | 16 | ||
Product [Member] | ||||
Related Party Transaction [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 33 | 41 | [1],[2] | |
Product [Member] | MPC | ||||
Related Party Transaction [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | [3] | 33 | 41 | |
Service [Member] | ||||
Related Party Transaction [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 928 | 803 | [1],[2] | |
Service [Member] | MPC | ||||
Related Party Transaction [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 927 | 803 | ||
Service [Member] | Other Affiliates [Member] | ||||
Related Party Transaction [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | $ 1 | $ 0 | ||
[1] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | |||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | |||
[3] | 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 months ended March 31, 2020 , these sales totaled $173 million . For the three months ended March 31, 2019 , these sales totaled $223 million . |
Summary of Charges for Employee
Summary of Charges for Employee Services and Omnibus Agreements (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Purchases - related parties | ||
Related Party Transaction [Line Items] | ||
Labor and Related Expense | $ 276 | $ 278 |
MPC | Rental cost of sales - related parties | ||
Related Party Transaction [Line Items] | ||
Labor and Related Expense | 46 | 43 |
MPC | Purchases - related parties | ||
Related Party Transaction [Line Items] | ||
Labor and Related Expense | 271 | 273 |
MPC | General and administrative expenses | ||
Related Party Transaction [Line Items] | ||
Labor and Related Expense | 64 | 62 |
Other Affiliates [Member] | Purchases - related parties | ||
Related Party Transaction [Line Items] | ||
Labor and Related Expense | 5 | 5 |
Construction-in-progress | MPC | ||
Related Party Transaction [Line Items] | ||
Property, Plant and Equipment, Additions | $ 36 | $ 41 |
Other Assets and Liabilities fr
Other Assets and Liabilities from Related Parties (Detail) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Related Party Transaction [Line Items] | ||
Other current assets | $ 45 | $ 110 |
Current Assets, Related Parties | 600 | 656 |
Operating Lease, Right-of-Use Asset | 352 | 365 |
Other Assets, Related Parties, Noncurrent | 677 | 303 |
Operating Lease, Liability, Current | 67 | 66 |
Current Liabilities, Related Parties | 297 | 1,008 |
Operating Lease, Liability, Noncurrent | 284 | 302 |
Liabilities, Related Parties, Noncurrent | 290 | 290 |
MPC | ||
Related Party Transaction [Line Items] | ||
Receivables - related parties | 538 | 621 |
Prepaid Insurance | 15 | 9 |
Sales-type Lease, Interest Income | 26 | 4 |
Sales-type Lease, Unguaranteed Residual Asset | 19 | 7 |
Due from Related Parties, Noncurrent | 28 | 21 |
Operating Lease, Right-of-Use Asset | 231 | 232 |
Net Investment in Lease, Noncurrent | 399 | 43 |
Due to Related Parties, Current | 227 | 911 |
Operating Lease, Liability, Current | 1 | 1 |
Operating Lease, Liability, Noncurrent | 230 | 230 |
Other Affiliates [Member] | ||
Related Party Transaction [Line Items] | ||
Receivables - related parties | 21 | 22 |
Due to Related Parties, Current | 16 | 37 |
Minimum Committed Volume Contracts [Member] | MPC | ||
Related Party Transaction [Line Items] | ||
Deferred Revenue Related Parties | 38 | 42 |
Reimbursable Projects [Member] | MPC | ||
Related Party Transaction [Line Items] | ||
Deferred Revenue Related Parties | 14 | 16 |
Deferred Revenue, Noncurrent, Related Parties | 54 | 53 |
Other Noncurrent Liabilities [Member] | Other Affiliates [Member] | ||
Related Party Transaction [Line Items] | ||
Deferred Revenue Related Parties | 1 | 1 |
Other Noncurrent Liabilities [Member] | Other Affiliates [Member] | ||
Related Party Transaction [Line Items] | ||
Deferred Revenue, Noncurrent, Related Parties | $ 6 | $ 7 |
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 | ||||
Mar. 31, 2020 | Mar. 31, 2019 | ||||
Net Income Per Share [Line Items] | |||||
Potentially dilutive units | 1 | 1 | |||
Net income attributable to MPLX LP | $ (2,724) | [1] | $ 503 | [2],[3] | |
Less: Distribution declared | 759 | 543 | |||
Undistributed net income (loss) attributable to MPLX LP | (3,483) | (40) | |||
Undistributed net loss attributable to MPLX LP | (3,483) | (40) | |||
Contributions from: | 225 | 15 | [4] | ||
Limited Partners Common Units | |||||
Net Income Per Share [Line Items] | |||||
Net income attributable to MPLX LP | (2,755) | [1] | 483 | [3] | |
Less: Distribution declared | [5] | 728 | 523 | ||
Undistributed net income (loss) attributable to MPLX LP | (3,483) | (40) | |||
MPC | Limited Partners Common Units | |||||
Net Income Per Share [Line Items] | |||||
Contributions from: | 225 | 0 | [4] | ||
Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | |||||
Net Income Per Share [Line Items] | |||||
Net income attributable to MPLX LP | 20 | [1] | 20 | [3] | |
Less: Distribution declared | [5] | 20 | 20 | ||
Undistributed net income (loss) attributable to MPLX LP | 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] | 11 | |||
Less: Distribution declared | [5] | 11 | $ 0 | ||
Undistributed net income (loss) attributable to MPLX LP | $ 0 | ||||
[1] | Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the distribution priorities applicable to the period. | ||||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[3] | Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the distribution priorities applicable to the period. | ||||
[4] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[5] | See Note 7 for distribution information. |
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 | ||||
Mar. 31, 2020 | Mar. 31, 2019 | ||||
Net income (loss) attributable to MPLX LP: | |||||
Undistributed net income (loss) attributable to MPLX LP | $ (3,483) | $ (40) | |||
Net income attributable to MPLX LP | (2,724) | [1] | 503 | [2],[3] | |
Limited Partners Common Units | |||||
Net income (loss) attributable to MPLX LP: | |||||
Undistributed net income (loss) attributable to MPLX LP | (3,483) | (40) | |||
Net income attributable to MPLX LP | $ (2,755) | [1] | $ 483 | [3] | |
Weighted average units outstanding: | |||||
Common - basic (in shares) | 1,058 | 794 | [2] | ||
Common - diluted (in shares) | 1,058 | 795 | [2] | ||
Net income attributable to MPLX LP per limited partner unit: | |||||
Basic (in USD per unit) | $ (2.60) | $ 0.61 | [2] | ||
Diluted (in USD per unit) | $ (2.60) | $ 0.61 | [2] | ||
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 | |||
Net income attributable to MPLX LP | 20 | [1] | $ 20 | [3] | |
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 | ||||
Net income attributable to MPLX LP | [1] | $ 11 | |||
[1] | Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the distribution priorities applicable to the period. | ||||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[3] | Allocation of net income attributable to MPLX LP assumes all earnings for the period had been distributed based on the distribution priorities applicable to the period. |
Equity - Changes in Partners Ca
Equity - Changes in Partners Capital, Unit Rollforward (Details) - USD ($) $ / shares in Units, $ in Millions | Apr. 28, 2020 | Jul. 30, 2019 | Jul. 29, 2019 | Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Stockholders Equity [Line Items] | |||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Temporary Equity | $ 2,736 | $ (669) | [1] | ||||||
Partners, Total Subsequent Distribution Amount | 759 | 543 | |||||||
Contributions from: | 225 | 15 | [1] | ||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (738) | (776) | [1] | ||||||
Partners' Capital, Including Portion Attributable to Noncontrolling Interest | 13,356 | 17,730 | [1] | $ 16,613 | $ 17,731 | ||||
Distribution Made to Limited Partner, Cash Distributions Declared | 759 | 543 | |||||||
Preferred Class B [Member] | |||||||||
Stockholders Equity [Line Items] | |||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Temporary Equity | (11) | 0 | [1] | ||||||
Contributions from: | 0 | 0 | [1] | ||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (21) | 0 | [1] | ||||||
Partners' Capital, Including Portion Attributable to Noncontrolling Interest | $ 601 | 0 | [1] | $ 611 | 0 | ||||
Limited Partners Common Units | |||||||||
Stockholders Equity [Line Items] | |||||||||
Balance at December 31, 2019 | 1,058,355,471 | ||||||||
Unit-based compensation awards | 151,878 | ||||||||
Balance at March 31, 2020 | 1,058,507,349 | 1,058,355,471 | |||||||
Distribution Made to Limited Partner, Cash Distributions Declared | [2] | $ 728 | 523 | ||||||
Andeavor Logistics [Member] | |||||||||
Stockholders Equity [Line Items] | |||||||||
Preferred Units, Outstanding | 600,000 | ||||||||
ANDX LP [Member] | |||||||||
Stockholders Equity [Line Items] | |||||||||
Dividend rate, percentage | 6.875% | ||||||||
Price per share | $ 1,000 | ||||||||
Subsequent Event | Limited Partners Common Units | |||||||||
Stockholders Equity [Line Items] | |||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 728 | ||||||||
Series B Preferred Stock [Member] | Preferred Partner [Member] | |||||||||
Stockholders Equity [Line Items] | |||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | [2] | $ 11 | 0 | ||||||
Series B Preferred Stock [Member] | MPLX LP | |||||||||
Stockholders Equity [Line Items] | |||||||||
Dividend rate, percentage | 4.652% | ||||||||
Preferred Stock, Dividend Payment Rate, Variable | LIBOR plus | ||||||||
Preferred Class B [Member] | |||||||||
Stockholders Equity [Line Items] | |||||||||
Partners, Total Subsequent Distribution Amount | $ 11 | 0 | |||||||
Preferred Class B [Member] | Preferred Partner [Member] | |||||||||
Stockholders Equity [Line Items] | |||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Temporary Equity | (11) | ||||||||
Partners' Capital, Including Portion Attributable to Noncontrolling Interest | 601 | $ 611 | |||||||
MPC | Limited Partners Common Units | |||||||||
Stockholders Equity [Line Items] | |||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Temporary Equity | $ (1,733) | 307 | [1] | ||||||
Units issued | 161,000,000 | 666,000,000 | 666,000,000 | ||||||
Contributions from: | $ 225 | 0 | [1] | ||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (446) | (327) | [1] | ||||||
Partners' Capital, Including Portion Attributable to Noncontrolling Interest | $ 3,014 | (1,632) | [1] | $ 4,968 | (1,612) | ||||
Units Outstanding | 666,000,000 | 666,000,000 | |||||||
Public | Limited Partners Common Units | |||||||||
Stockholders Equity [Line Items] | |||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Excluding Portion Attributable to Temporary Equity | $ (1,022) | 176 | [1] | ||||||
Units issued | 102,000,000 | 393,000,000 | 392,000,000 | ||||||
Contributions from: | $ 0 | 0 | [1] | ||||||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | (271) | (188) | [1] | ||||||
Partners' Capital, Including Portion Attributable to Noncontrolling Interest | $ 9,509 | $ 8,326 | [1] | $ 10,800 | $ 8,336 | ||||
Units Outstanding | 393,000,000 | 392,000,000 | |||||||
Nonpublic [Member] | ANDX LP [Member] | |||||||||
Stockholders Equity [Line Items] | |||||||||
Common Units Conversion Ratio - ANDX to MPLX | 1.0328 | ||||||||
Public | ANDX LP [Member] | |||||||||
Stockholders Equity [Line Items] | |||||||||
Common Units Conversion Ratio - ANDX to MPLX | 1.135 | ||||||||
TexNew Mex units [Member] | MPLX LP | |||||||||
Stockholders Equity [Line Items] | |||||||||
Units Outstanding | 80,000 | ||||||||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 0 | $ 1 | |||||||
[1] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||||||
[2] | See Note 7 for distribution information. |
Equity - Cash Distributions (De
Equity - Cash Distributions (Details) - USD ($) $ / shares in Units, $ in Millions | Apr. 28, 2020 | Mar. 31, 2020 | Mar. 31, 2019 | ||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||
Contributions from: | $ 225 | $ 15 | [1] | ||
Distribution Made to Limited Partner, Cash Distributions Declared | 759 | 543 | |||
Partners, Total Subsequent Distribution Amount | 759 | 543 | |||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 9 | 6 | [1] | ||
Partners' Capital Account, Distributions | 738 | 776 | [1] | ||
Limited Partners Common Units | |||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||
Partners, Total Subsequent Distribution Amount | 728 | 523 | [2] | ||
Preferred Units | |||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||
Partners, Total Subsequent Distribution Amount | 20 | 20 | |||
Preferred Class B [Member] | |||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||
Partners, Total Subsequent Distribution Amount | 11 | 0 | |||
Subsequent Event | |||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||
Distribution Made to Limited Partner, Declaration Date | Apr. 28, 2020 | ||||
Cash distributions declared per limited partner common unit | $ 0.6875 | ||||
Distribution date | May 15, 2020 | ||||
Date of record | May 8, 2020 | ||||
Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | |||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||
Distribution Made to Limited Partner, Cash Distributions Declared | [3] | $ 11 | 0 | ||
Series A Preferred Stock [Member] | Preferred Class B [Member] | |||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||
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] | |||||
Distribution Made to Limited Partner, Cash Distributions Declared | [3] | $ 728 | $ 523 | ||
Cash distributions declared per limited partner common unit | $ 0.6875 | $ 0.6575 | |||
Limited Partners Common Units | Subsequent Event | |||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||
Distribution Made to Limited Partner, Cash Distributions Declared | $ 728 | ||||
Preferred Class B [Member] | |||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||
Contributions from: | $ 0 | $ 0 | [1] | ||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | 0 | [1] | ||
Partners' Capital Account, Distributions | 21 | 0 | [1] | ||
MPC | Limited Partners Common Units | |||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||
Contributions from: | 225 | 0 | [1] | ||
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | 0 | 0 | [1] | ||
Partners' Capital Account, Distributions | $ 446 | $ 327 | [1] | ||
MPLX LP | Series B Preferred Stock [Member] | |||||
Incentive Distribution Made to Managing Member or General Partner [Line Items] | |||||
Preferred Stock, Dividend Payment Rate, Variable | LIBOR plus | ||||
Preferred Stock, Dividend Rate, Percentage | 4.652% | ||||
[1] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[2] | The distribution on common units for the three months ended March 31, 2019 does not include the impact of the issuance of units in connection with the merger. | ||||
[3] | See Note 7 for distribution information. |
Series A Preferred Units (Narra
Series A Preferred Units (Narrative) (Details) - $ / shares shares in Millions | Apr. 28, 2020 | May 13, 2016 | Mar. 31, 2020 |
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 | ||
Dividend rate, per-dollar-amount | $ 0.528125 | ||
Description | The holders may convert their Series A preferred units into common units at any time, 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. | ||
Partners' Capital Account, Units | 29.6 | ||
Subsequent Event | |||
Redeemable Noncontrolling Interest [Line Items] | |||
Distribution Made to Limited Partner, Declaration Date | Apr. 28, 2020 | ||
Distribution Made to Limited Partner, Distributions Declared, Per Unit | $ 0.6875 |
Series A Preferred Units (Rollf
Series A Preferred Units (Rollforward of Redeemable Preferred Units) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | [1] | |
Redeemable Noncontrolling Interest [Line Items] | |||
Balance at December 31, 2019 | $ 968 | ||
Distributions to unitholders and general partner | (717) | $ (515) | |
Balance at March 31, 2020 | 968 | ||
Series A Convertible Preferred Units | |||
Redeemable Noncontrolling Interest [Line Items] | |||
Balance at December 31, 2019 | 968 | ||
Net income allocated | 20 | ||
Distributions to unitholders and general partner | (20) | ||
Balance at March 31, 2020 | $ 968 | ||
[1] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Segment Information (Details)
Segment Information (Details) | 3 Months Ended |
Mar. 31, 2020 | |
Segment Reporting [Abstract] | |
Number of reportable segments | 2 |
Segment Information - Segment A
Segment Information - Segment Adjusted EBITDA (Details) - USD ($) $ in Millions | 3 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | ||||
Segment Reporting Information [Line Items] | |||||
Depreciation and amortization | [1] | $ 325 | $ 301 | [2],[3],[4] | |
Total revenues from contracts with customers | 1,781 | 1,708 | [5] | ||
Rental income | 96 | 99 | [3] | ||
Income/(loss) from equity method investments(2) | (1,184) | [6],[7],[8] | 77 | [2],[3],[4],[9] | |
Other income | 1 | 0 | [3] | ||
Total segment revenues and other income | (992) | (2,235) | [3],[5] | ||
Investments in unconsolidated affiliates | (91) | (135) | [2] | ||
L&S | |||||
Segment Reporting Information [Line Items] | |||||
Depreciation and amortization | (138) | (126) | |||
Total revenues from contracts with customers | 1,023 | 904 | [5] | ||
Investments in unconsolidated affiliates | 54 | 7 | [4] | ||
G&P | |||||
Segment Reporting Information [Line Items] | |||||
Depreciation and amortization | (187) | (175) | |||
Total revenues from contracts with customers | 758 | 804 | [5] | ||
Investments in unconsolidated affiliates | 37 | 128 | [4] | ||
Operating Segments | |||||
Segment Reporting Information [Line Items] | |||||
Adjusted EBITDA | 1,294 | 930 | [4] | ||
Operating Segments | L&S | |||||
Segment Reporting Information [Line Items] | |||||
Rental income | 242 | 335 | [4] | ||
Income/(loss) from equity method investments(2) | 50 | 45 | [4] | ||
Other income | 51 | 12 | [4] | ||
Total segment revenues and other income | [1] | (1,366) | (1,296) | [4] | |
Adjusted EBITDA | [10] | 872 | 559 | [4] | |
Capital Expenditure | 184 | 198 | [4] | ||
Operating Segments | G&P | |||||
Segment Reporting Information [Line Items] | |||||
Rental income | 88 | 89 | [4] | ||
Income/(loss) from equity method investments(2) | (1,234) | 32 | [4] | ||
Other income | 14 | 14 | [4] | ||
Total segment revenues and other income | [1] | 374 | (939) | [4] | |
Adjusted EBITDA | [10] | 422 | 371 | [4] | |
Capital Expenditure | 134 | 306 | [4] | ||
Segment Reconciling Items [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Adjusted EBITDA attributable to Predecessor | [11] | 0 | 333 | [4] | |
Service [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues from contracts with customers | 612 | 614 | [3],[5] | ||
Service [Member] | L&S | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues from contracts with customers | 84 | 86 | [5] | ||
Service [Member] | G&P | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues from contracts with customers | 528 | 528 | [5] | ||
Service [Member] | Operating Segments | L&S | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues from contracts with customers | 1,004 | 889 | [4] | ||
Service [Member] | Operating Segments | G&P | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues from contracts with customers | 536 | 528 | [4] | ||
Product [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues from contracts with customers | 169 | 216 | [3] | ||
Product [Member] | Operating Segments | L&S | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues from contracts with customers | 19 | 15 | [4] | ||
Product [Member] | Operating Segments | G&P | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues from contracts with customers | 222 | 276 | [4] | ||
Third Party [Member] | L&S | |||||
Segment Reporting Information [Line Items] | |||||
Total segment revenues and other income | (158) | (153) | |||
Third Party [Member] | G&P | |||||
Segment Reporting Information [Line Items] | |||||
Total segment revenues and other income | $ (425) | $ (887) | |||
[1] | Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $158 million and $153 million for the three months ended March 31, 2020 and 2019, respectively. Third party losses for the G&P segment were $425 million for the three months ended March 31, 2020 and third party revenues were $887 million for the three months ended March 31, 2019. | ||||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[3] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[4] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[5] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[6] | The 2020 period includes $1,264 million of impairment expense. See Note 4. | ||||
[7] | The 2020 period includes $1,264 million of impairment expense. See Note 4. | ||||
[8] | Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million . | ||||
[9] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[10] | See below for the reconciliation from Segment Adjusted EBITDA to net income. | ||||
[11] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Segment Information - Assets by
Segment Information - Assets by Segment (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Segment Reporting, Other Significant Reconciling Item [Line Items] | ||
Cash and cash equivalents | $ 57 | $ 15 |
Assets | 37,006 | 40,430 |
L&S | Operating Segments | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ||
Assets | 20,891 | 20,810 |
G&P | Operating Segments | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ||
Assets | $ 16,058 | $ 19,605 |
Segment Information - Reconcili
Segment Information - Reconciliation to Net Income (Details) - USD ($) $ in Millions | 3 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | ||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||
Depreciation and amortization | [1] | $ (325) | $ (301) | [2],[3],[4] | |
Income Tax Expense (Benefit) | 0 | 1 | [3],[4] | ||
Amortization of Debt Issuance Costs | (14) | (7) | [2] | ||
Share-based Payment Arrangement, Expense | (5) | (7) | [4] | ||
Goodwill and Intangible Asset Impairment | (2,165) | 0 | [2],[3],[4] | ||
Interest and Other Financial Costs | (216) | (217) | [4] | ||
Income/(loss) from equity method investments(2) | (1,184) | [5],[6],[7] | 77 | [2],[3],[4],[8] | |
Proceeds from Equity Method Investment, Distribution, Return of Capital | (119) | (115) | [2] | ||
Acquisition Costs, Period Cost | 0 | (1) | [4] | ||
Other Cost and Expense, Operating | 1 | 0 | [4] | ||
Net income | (2,716) | 689 | [2],[3],[4],[9] | ||
Operating Segments | |||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||
Adjusted EBITDA | 1,294 | 930 | [4] | ||
Amortization of Debt Issuance Costs | (14) | (7) | [4] | ||
Segment Reconciling Items [Member] | |||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||
Proceeds from Equity Method Investment, Distribution, Return of Capital | (124) | (122) | [4] | ||
Adjusted EBITDA attributable to noncontrolling interests | 9 | 7 | [4] | ||
L&S | |||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||
Depreciation and amortization | 138 | 126 | |||
L&S | Operating Segments | |||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||
Adjusted EBITDA | [10] | 872 | 559 | [4] | |
Income/(loss) from equity method investments(2) | 50 | 45 | [4] | ||
G&P | |||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||
Depreciation and amortization | 187 | 175 | |||
G&P | Operating Segments | |||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||
Adjusted EBITDA | [10] | 422 | 371 | [4] | |
Income/(loss) from equity method investments(2) | (1,234) | 32 | [4] | ||
Not Designated as Hedging Instrument [Member] | |||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | [10] | $ 15 | $ (4) | [4] | |
[1] | Within the total segment revenues and other income amounts presented above, third party revenues for the L&S segment were $158 million and $153 million for the three months ended March 31, 2020 and 2019, respectively. Third party losses for the G&P segment were $425 million for the three months ended March 31, 2020 and third party revenues were $887 million for the three months ended March 31, 2019. | ||||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[3] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[4] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[5] | The 2020 period includes $1,264 million of impairment expense. See Note 4. | ||||
[6] | The 2020 period includes $1,264 million of impairment expense. See Note 4. | ||||
[7] | Includes the impact of any basis differential amortization or accretion in addition to the impairment of $1,264 million . | ||||
[8] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[9] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | ||||
[10] | See below for the reconciliation from Segment Adjusted EBITDA to net income. |
Inventories (Summary of Invento
Inventories (Summary of Inventories) (Details) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Inventory Disclosure [Abstract] | ||
NGLs | $ 1 | $ 5 |
Line fill | 6 | 10 |
Spare parts, materials and supplies | 98 | 95 |
Total inventories | $ 105 | $ 110 |
Property, Plant and Equipment_2
Property, Plant and Equipment (Summary of Property, Plant and Equipment) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2020 | Dec. 31, 2019 | ||
Property, Plant and Equipment [Line Items] | |||
Impairment of Long-Lived Assets Held-for-use | $ 174 | ||
Property, plant and equipment, gross | 26,587 | $ 26,867 | |
Less accumulated depreciation(1) | 4,758 | [1] | 4,722 |
Property, plant and equipment, net | 21,829 | 22,145 | |
L&S | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 12,526 | 12,934 | |
L&S | Terminals | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 5,637 | 5,572 | |
L&S | Marine | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 960 | 906 | |
L&S | Terminals and related assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 1,176 | 1,109 | |
L&S | Refineries and related assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 2,308 | 2,870 | |
L&S | Land, building and other | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 1,827 | 1,817 | |
L&S | Construction-in-progress | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 618 | 660 | |
G&P | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 14,061 | 13,933 | |
G&P | Pipelines | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 7,349 | 7,159 | |
G&P | Processing, fractionation and storage facilities | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 5,605 | 5,545 | |
G&P | Land, building and other | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | 491 | 484 | |
G&P | Construction-in-progress | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, gross | $ 616 | $ 745 | |
Maximum [Member] | L&S | Terminals | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 51 years | ||
Maximum [Member] | L&S | Marine | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 20 years | ||
Maximum [Member] | L&S | Terminals and related assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 40 years | ||
Maximum [Member] | L&S | Refineries and related assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 40 years | ||
Maximum [Member] | L&S | Land, building and other | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 61 years | ||
Maximum [Member] | G&P | Pipelines | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 40 years | ||
Maximum [Member] | G&P | Processing, fractionation and storage facilities | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 40 years | ||
Maximum [Member] | G&P | Land, building and other | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 40 years | ||
Minimum [Member] | L&S | Terminals | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 2 years | ||
Minimum [Member] | L&S | Marine | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 15 years | ||
Minimum [Member] | L&S | Terminals and related assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 2 years | ||
Minimum [Member] | L&S | Refineries and related assets | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 13 years | ||
Minimum [Member] | L&S | Land, building and other | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 1 year | ||
Minimum [Member] | G&P | Pipelines | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Minimum [Member] | G&P | Processing, fractionation and storage facilities | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 15 years | ||
Minimum [Member] | G&P | Land, building and other | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
[1] | The March 31, 2020 balance includes property, plant and equipment impairment charges recorded during the first quarter of 2020 as discussed below. |
Goodwill and Intangibles Good_2
Goodwill and Intangibles Goodwill (Details) | Nov. 30, 2019 | Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) |
Goodwill [Line Items] | ||||
Goodwill, Gross | $ 10,863,000,000 | $ 10,146,000,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | (3,141,000,000) | (130,000,000) | ||
Goodwill | 7,722,000,000 | $ 9,536,000,000 | 10,016,000,000 | |
Goodwill, Impairment Loss | $ (1,814,000,000) | (1,197,000,000) | ||
Goodwill, Acquired During Period | 717,000,000 | |||
Total Number of Reporting Units | 6 | |||
Reporting Unit, Zero or Negative Carrying Amount, Amount of Allocated Goodwill | 1 | |||
Number of Reporting Units | 6 | 4 | ||
Crude Gathering [Member] | ||||
Goodwill [Line Items] | ||||
Goodwill | $ 1,100,000,000 | |||
Minimum [Member] | ||||
Goodwill [Line Items] | ||||
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount | 8.50% | |||
Maximum [Member] | ||||
Goodwill [Line Items] | ||||
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount | 270.00% | |||
L&S | ||||
Goodwill [Line Items] | ||||
Goodwill, Gross | $ 7,722,000,000 | 7,234,000,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | 0 | 0 | ||
Goodwill | 7,722,000,000 | 7,722,000,000 | 7,234,000,000 | |
Goodwill, Impairment Loss | 0 | 0 | ||
Goodwill, Acquired During Period | 488,000,000 | |||
G&P | ||||
Goodwill [Line Items] | ||||
Goodwill, Gross | 3,141,000,000 | 2,912,000,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | (3,141,000,000) | (130,000,000) | ||
Goodwill | 0 | 1,814,000,000 | $ 2,782,000,000 | |
Goodwill, Impairment Loss | $ (1,814,000,000) | (1,197,000,000) | ||
Goodwill, Acquired During Period | $ 229,000,000 | |||
Valuation, Income Approach [Member] | Measurement Input, Discount Rate [Member] | Goodwill [Member] | Minimum [Member] | ||||
Goodwill [Line Items] | ||||
Fair Value Inputs | 9.50% | |||
Valuation, Income Approach [Member] | Measurement Input, Discount Rate [Member] | Goodwill [Member] | Maximum [Member] | ||||
Goodwill [Line Items] | ||||
Fair Value Inputs | 11.50% |
Goodwill and Intangibles Intang
Goodwill and Intangibles Intangibles (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2020 | Dec. 31, 2019 | |||
Finite-Lived Intangible Assets [Line Items] | ||||
Impairment of Intangible Assets, Finite-lived | $ 177 | |||
Finite-Lived Intangible Assets, Gross | 1,571 | $ 1,571 | ||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 96 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 128 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 128 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 128 | |||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 124 | |||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 451 | |||
Finite-Lived Intangible Assets, Net | 1,055 | |||
Finite-Lived Intangible Assets, Accumulated Amortization | [1] | (516) | (301) | |
Intangibles, net | 1,055 | 1,270 | ||
L&S | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of Intangible Assets | 9 | |||
Finite-Lived Intangible Assets, Gross | 283 | 283 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | [1] | (54) | (45) | |
Intangibles, net | $ 229 | 238 | ||
L&S | Minimum [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 6 years | |||
L&S | Maximum [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 8 years | |||
G&P | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of Intangible Assets | $ 29 | |||
Finite-Lived Intangible Assets, Gross | 1,288 | 1,288 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | [1] | (462) | [2] | (256) |
Intangibles, net | $ 826 | $ 1,032 | ||
G&P | Minimum [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 6 years | |||
G&P | Maximum [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Finite-Lived Intangible Asset, Useful Life | 25 years | |||
[1] | Amortization expense attributable to the G&P and L&S segments for the three months ended March 31, 2020 was $29 million and $9 million , respectively. | |||
[2] | Impairment charge of $177 million is included within the G&P accumulated amortization. |
Fair Value Measurements - Recur
Fair Value Measurements - Recurring - Financial Instruments by Valuation Hierarchy (Details) - Fair Value, Recurring [Member] - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative asset | $ 0 | $ 0 |
Derivative liability | 45 | 60 |
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 | $ 45 | $ 60 |
Fair Value Measurments - Recurr
Fair Value Measurments - Recurring - Significant Unobservable Inputs in Level 3 Valuation (Details) | 3 Months Ended |
Mar. 31, 2020USD ($)$ / gal | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |
Derivative, Average Forward Price | $ / gal | 0.39 |
Fair Value, Inputs, Level 3 [Member] | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |
Embedded Derivative Renewal Term | 5 years |
Embedded Derivative Second Renewal Term | 5 years |
Fair Value, Inputs, Level 3 [Member] | Embedded derivatives in commodity contracts | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |
Fair Value Inputs Probability of Renewal | 95.00% |
Fair Value Inputs Probability of Renewal Second Term | 83.50% |
Minimum [Member] | Fair Value, Inputs, Level 3 [Member] | Commodity contracts | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |
Fair Value Inputs Forward Commodity Price | $ 0.26 |
Maximum [Member] | Fair Value, Inputs, Level 3 [Member] | Commodity contracts | |
Fair Value Inputs, Assets and Liabilities, Quantitative Information [Line Items] | |
Fair Value Inputs Forward Commodity Price | $ 0.68 |
Fair Value Measurements - Rec_2
Fair Value Measurements - Recurring - Changes in Level 3 Measurements (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | ||
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 | $ 0 | |
Total gains (losses) (realized and unrealized) included in earnings | [1] | 0 | 0 |
Settlements | 0 | 0 | |
Fair value at end of period | 0 | 0 | |
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 | 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 | (60) | (61) | |
Total gains (losses) (realized and unrealized) included in earnings | [1] | 14 | (6) |
Settlements | 1 | 2 | |
Fair value at end of period | (45) | (65) | |
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 | $ 13 | $ (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 | Mar. 31, 2020 | Dec. 31, 2019 |
Reported Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | $ 20,560 | $ 19,800 |
SMR liability | 79 | 80 |
Estimate of Fair Value Measurement [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-term debt | 18,352 | 21,054 |
SMR liability | $ 77 | $ 90 |
Derivative Financial Instrume_3
Derivative Financial Instruments - Embedded Derivatives in Commodity Contracts (Details) - Natural Gas [Member] - Embedded derivatives in commodity contracts $ in Millions | 3 Months Ended | |
Mar. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
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 | $ 45 | $ 60 |
Derivative Financial Instrume_4
Derivative Financial Instruments - Derivatives Balance Sheet Location (Details) - Not Designated as Hedging Instrument [Member] - Commodity contracts - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 | |
Derivatives, Fair Value [Line Items] | |||
Derivative Asset, Fair Value, Gross Asset | [1] | $ 0 | $ 0 |
Derivative Liability, Fair Value, Gross Liability | [1] | 45 | 60 |
Other current 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] | 2 | 5 |
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] | $ 43 | $ 55 |
[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 | |||
Mar. 31, 2020 | Mar. 31, 2019 | |||
Derivative [Line Items] | ||||
Total gain (loss) | $ 14 | $ (6) | ||
Product sales | ||||
Derivative [Line Items] | ||||
Realized gain (loss) | 0 | 0 | ||
Total gain (loss) | 0 | 0 | ||
Purchased product costs | ||||
Derivative [Line Items] | ||||
Realized gain (loss) | (1) | (2) | ||
Total gain (loss) | 14 | (6) | ||
Cost of revenues | ||||
Derivative [Line Items] | ||||
Realized gain (loss) | 0 | 0 | ||
Total gain (loss) | 0 | 0 | ||
Not Designated as Hedging Instrument [Member] | ||||
Derivative [Line Items] | ||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | [1] | 15 | (4) | [2] |
Not Designated as Hedging Instrument [Member] | Product sales | ||||
Derivative [Line Items] | ||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | 0 | 0 | ||
Not Designated as Hedging Instrument [Member] | Purchased product costs | ||||
Derivative [Line Items] | ||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | 15 | (4) | ||
Not Designated as Hedging Instrument [Member] | Cost of revenues | ||||
Derivative [Line Items] | ||||
Unrealized Gain (Loss) on Derivatives and Commodity Contracts | $ 0 | $ 0 | ||
[1] | See below for the reconciliation from Segment Adjusted EBITDA to net income. | |||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Debt - Summary of Outstanding B
Debt - Summary of Outstanding Borrowings (Detail) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 09, 2019 | |
Debt Instrument [Line Items] | ||||
Total | $ 20,864 | $ 20,119 | ||
Unamortized debt issuance costs | (103) | (106) | ||
Unamortized discount/premium | (290) | (300) | ||
Amounts due within one year | (4) | (9) | ||
Total long-term debt due after one year | 20,467 | 19,704 | ||
Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | $ 2,000 | |||
Senior Notes [Member] | MarkWest [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 23 | 23 | ||
Senior Notes [Member] | ANDX LP [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 190 | 190 | ||
Variable Rate Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 2,000 | 2,000 | ||
Fixed Rate Senior Notes [Member] | MPLX LP | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 16,887 | 16,887 | ||
Finance Lease [Member] | Marathon Pipe Line LLC [Member] | ||||
Debt Instrument [Line Items] | ||||
Financing lease obligations(1) | [1] | 14 | 19 | |
Floating Rate Senior Notes Due September 2021 [Member] | Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | 1,000 | |||
Floating Rate Senior Notes Due September 2022 [Member] | Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Debt, Gross | $ 1,000 | |||
MPLX Revolving Credit Facility due July 2024 [Member] | ||||
Debt Instrument [Line Items] | ||||
Long-term Line of Credit | $ 750 | $ 0 | ||
Minimum [Member] | Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | |||
Maximum [Member] | Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 6.375% | |||
[1] | See Note 20 for lease information. |
Debt Debt - Summary of Outstand
Debt Debt - Summary of Outstanding Borrowings - Interest Rates and Table Due Dates (Details) | 3 Months Ended |
Mar. 31, 2020 | |
MPLX LP | Line of Credit [Member] | MPLX Revolving Credit Facility due July 2024 [Member] | |
Debt Instrument [Line Items] | |
Line of Credit Facility, Expiration Date | Jul. 30, 2024 |
MPLX LP | Senior Notes [Member] | Floating Rate Senior Notes Due September 2021 [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Maturity Date | Sep. 9, 2021 |
MPLX LP | Senior Notes [Member] | Floating Rate Senior Notes Due September 2022 [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Maturity Date | Sep. 9, 2022 |
Minimum [Member] | Senior Notes [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 3.375% |
Minimum [Member] | MPLX LP | Senior Notes [Member] | Senior Notes Due October 2022 [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Maturity Date | Oct. 15, 2022 |
Maximum [Member] | Senior Notes [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 6.375% |
Maximum [Member] | MPLX LP | Senior Notes [Member] | Senior Notes Due April 2058 [Member] | |
Debt Instrument [Line Items] | |
Debt Instrument, Maturity Date | Apr. 15, 2058 |
Debt - Additional Information (
Debt - Additional Information (Detail) - USD ($) $ in Millions | Sep. 26, 2019 | Sep. 09, 2019 | Jul. 21, 2017 | Mar. 31, 2020 | Mar. 31, 2019 | [1] | Dec. 31, 2019 | Jul. 30, 2019 |
Debt Instrument [Line Items] | ||||||||
Repayments of Long-term Debt | $ 581 | $ 821 | ||||||
MPLX Revolving Credit Facility due July 2024 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 3,500 | |||||||
Long-term Line of Credit | 750 | $ 0 | ||||||
MPLX Revolving Credit Facility due July 2024 [Member] | MPLX LP | ||||||||
Debt Instrument [Line Items] | ||||||||
Proceeds from Lines of Credit | $ 1,325 | |||||||
Debt Instrument, Interest Rate, Effective Percentage | 2.139% | |||||||
Repayments of Long-term Lines of Credit | $ 575 | |||||||
Letters of Credit Outstanding | 1 | |||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 2,750 | |||||||
Line of Credit Facility, Remaining Borrowing Capacity, Percentage | 78.60% | |||||||
Bank revolving credit facility due 2022 | MPLX LP | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Term | 5 years | |||||||
MPLX Term Loan [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000 | |||||||
Debt Instrument, Description of Variable Rate Basis | (i) the Adjusted LIBO Rate (as defined in the Term Loan Agreement) plus a margin ranging from 75.0 basis points to 100.0 basis points per annum, depending on MPLX’s credit ratings, or (ii) the Alternate Base Rate (as defined in the Term Loan Agreement). | |||||||
Long-term Debt, Maturity Date | Sep. 26, 2021 | |||||||
Long-term Line of Credit | $ 1,000 | 1,000 | ||||||
MPLX Term Loan [Member] | MPLX LP | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Effective Percentage | 2.273% | |||||||
Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Gross | $ 2,000 | |||||||
Percent of Par | 100.00% | |||||||
Senior Notes [Member] | ANDX LP [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Gross | $ 190 | 190 | ||||||
Senior Notes [Member] | MarkWest [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Gross | $ 23 | $ 23 | ||||||
Senior Notes [Member] | Floating Rate Senior Notes Due September 2021 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Gross | $ 1,000 | |||||||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 0.9 percent per annum | |||||||
Senior Notes [Member] | Floating Rate Senior Notes Due September 2022 [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Long-term Debt, Gross | $ 1,000 | |||||||
Debt Instrument, Description of Variable Rate Basis | LIBOR plus 1.1 percent per annum | |||||||
Minimum [Member] | Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | |||||||
Maximum [Member] | Senior Notes [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.375% | |||||||
[1] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Revenue Disaggregation of Reven
Revenue Disaggregation of Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | |||
Disaggregation of Revenue [Line Items] | ||||
Total revenues from contracts with customers | $ 1,781 | $ 1,708 | [1] | |
Operating Income (Loss) | [2] | (789) | 527 | [1] |
Total segment revenues and other income | 992 | 2,235 | [1],[3] | |
L&S | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues from contracts with customers | 1,023 | 904 | [1] | |
G&P | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues from contracts with customers | 758 | 804 | [1] | |
Service [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues from contracts with customers | 612 | 614 | [1],[3] | |
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 928 | 803 | [1],[3] | |
Service [Member] | L&S | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues from contracts with customers | 84 | 86 | [1] | |
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 920 | 803 | [1] | |
Service [Member] | G&P | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues from contracts with customers | 528 | 528 | [1] | |
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 8 | 0 | [1] | |
Service, Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues from contracts with customers | 39 | 34 | [1],[3] | |
Service, Other [Member] | L&S | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues from contracts with customers | 0 | 0 | [1] | |
Service, Other [Member] | G&P | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues from contracts with customers | 39 | 34 | [1] | |
Product [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total revenues from contracts with customers | 169 | 216 | [3] | |
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 33 | 41 | [1],[3] | |
Revenue from Contract with Customer, excluding Assessed Tax and Non-ASC 606 Revenue | [2] | 169 | 216 | [1] |
Product [Member] | L&S | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 4 | 4 | [1] | |
Revenue from Contract with Customer, excluding Assessed Tax and Non-ASC 606 Revenue | 15 | 11 | [1] | |
Product [Member] | G&P | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Related Parties | 29 | 37 | [1] | |
Revenue from Contract with Customer, excluding Assessed Tax and Non-ASC 606 Revenue | [2] | $ 154 | $ 205 | [1] |
[1] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | |||
[2] | Non-ASC 606 Revenue includes rental income, income/(loss) from equity method investments, derivative gains and losses, mark-to-market adjustments, and other income. | |||
[3] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Revenue Contract Balances (Deta
Revenue Contract Balances (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | |||
Long-term deferred revenue, beginning balance | $ 217 | |||
Long-term deferred revenue, ending balance | 241 | |||
Liability, change in timeframe, performance obligation satisfied, revenue recognized | 0 | |||
ASC 606 | ||||
Contract assets, beginning balance | [1] | 39 | $ 36 | |
Contract assets, additions/(deletions) | (27) | (17) | [2] | |
Contract assets, revenue recognized | [3] | 0 | 0 | [2] |
Contract assets, ending balance | 12 | 19 | [2] | |
Deferred revenue, beginning balance | [1] | 23 | 13 | |
Deferred revenue, additions/(deletions) | 5 | 1 | [2] | |
Deferred revenue, revenue recognized | [3] | (3) | (1) | [2] |
Deferred revenue, ending balance | 25 | 13 | [2] | |
Deferred revenue - related parties, beginning balance | [1] | 53 | 65 | |
Deferred revenue - related party, additions/(deletions) | 12 | 9 | [2] | |
Deferred revenue - related parties, revenue recognized | [3] | (16) | (16) | [2] |
Deferred revenue - related parties, ending balance | 49 | 58 | [2] | |
Long-term deferred revenue, beginning balance | [1] | 90 | 56 | |
Long-term deferred revenue, additions/(deletions) | 6 | 1 | [2] | |
Long-term deferred revenue, revenue recognized | [3] | 0 | 0 | [2] |
Long-term deferred revenue, ending balance | 96 | 57 | [2] | |
Long-term deferred revenue - related parties, beginning balance | [1] | 55 | 52 | |
Long-term deferred revenue - related party, additions/(deletions) | 1 | 0 | [2] | |
Long-term deferred revenue - related parties, revenue recognized | [3] | 0 | 0 | [2] |
Long-term deferred revenue - related parties, ending balance | $ 56 | $ 52 | [2] | |
[1] | Balance represents ASC 606 portion of each respective line item. | |||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. | |||
[3] | No significant revenue was recognized related to past performance obligations in the current periods. |
Revenue Remaining Performance O
Revenue Remaining Performance Obligations (Details) $ in Millions | Mar. 31, 2020USD ($) | |
Revenue from Contract with Customer [Abstract] | ||
Contract with customer, liability | $ 224 | |
Revenue, Remaining Performance Obligation, Amount | 12,108 | [1],[2],[3] |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01 | ||
Revenue from Contract with Customer [Abstract] | ||
Revenue, Remaining Performance Obligation, Amount | $ 1,344 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Remaining performance obligation, expected timing of satisfaction, years | 9 months | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | ||
Revenue from Contract with Customer [Abstract] | ||
Revenue, Remaining Performance Obligation, Amount | $ 1,747 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Remaining performance obligation, expected timing of satisfaction, years | 1 year | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | ||
Revenue from Contract with Customer [Abstract] | ||
Revenue, Remaining Performance Obligation, Amount | $ 1,717 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Remaining performance obligation, expected timing of satisfaction, years | 2 years | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | ||
Revenue from Contract with Customer [Abstract] | ||
Revenue, Remaining Performance Obligation, Amount | $ 1,638 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Remaining performance obligation, expected timing of satisfaction, years | 3 years | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | ||
Revenue from Contract with Customer [Abstract] | ||
Revenue, Remaining Performance Obligation, Amount | $ 5,662 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||
Remaining performance obligation, expected timing of satisfaction, years | 31 years | |
[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 - Summary of Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Net cash provided by operating activities included: | ||
Interest paid (net of amounts capitalized) | $ 210 | $ 173 |
Non-cash investing and financing activities: | ||
Net transfers of property, plant and equipment from (to) materials and supplies inventories | $ (1) | $ 1 |
Supplemental Cash Flow Inform_4
Supplemental Cash Flow Information - Summary of Reconciliation of Additions to Property, Plant and Equipment to Total Capital Expenditures (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Supplemental Cash Flow Elements [Abstract] | ||
(Decrease)/increase in capital accruals | $ (61) | $ (71) |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Accumulated other comprehensive loss | [1] | $ (16) | $ (15) | $ (15) | $ (16) |
Other Comprehensive Income (Loss), Net of Tax | [2] | (1) | 1 | ||
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) | (14) |
Other Comprehensive Income (Loss), Net of Tax | [2] | 0 | 0 | ||
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] | (2) | (1) | $ (1) | $ (2) |
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) - $ / shares | Jul. 30, 2019 | Mar. 31, 2020 |
Phantom Units | ||
Number of Units | ||
Outstanding at December 31, 2019 | 1,109,568 | |
Granted | 168,212 | |
Settled | 174,888 | |
Forfeited | 335 | |
Outstanding at March 31, 2020 | 1,102,557 | |
Weighted Average Fair Value | ||
Outstanding at December 31, 2019 | $ 35.97 | |
Granted | 20.49 | |
Settled | 36.29 | |
Forfeited | 33.55 | |
Outstanding at March 31, 2020 | $ 33.56 | |
ANDX LP [Member] | Public | ||
Equity Transactions And Share Based Compensation [Line Items] | ||
Common Units Conversion Ratio - ANDX to MPLX | 1.135 |
Equity-Based Compensation Pla_3
Equity-Based Compensation Plan - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2020$ / shares | |
Officer | Performance Shares [Member] | MPLX LP 2012 Incentive Compensation Plan [Member] | |
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% |
2020 [Member] | Performance Units Market Condition [Member] | |
Equity Transactions And Share Based Compensation [Line Items] | |
Performance units grant date fair value (in USD per unit) | $ 0.80 |
2018 [Member] | Performance Units Market Condition [Member] | |
Equity Transactions And Share Based Compensation [Line Items] | |
Performance units grant date fair value (in USD per unit) | 0.45 |
Maximum [Member] | 2020 [Member] | Performance Unit Performance Condition [Member] | |
Equity Transactions And Share Based Compensation [Line Items] | |
Performance units grant date fair value (in USD per unit) | 2 |
Maximum [Member] | 2018 [Member] | Performance Unit Performance Condition [Member] | |
Equity Transactions And Share Based Compensation [Line Items] | |
Performance units grant date fair value (in USD per unit) | $ 2 |
Equity-Based Compensation Pla_4
Equity-Based Compensation Plan - Summary of Performance Unit Award Activity (Detail) - Performance Shares [Member] | 3 Months Ended |
Mar. 31, 2020shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Outstanding at December 31, 2019 | 2,157,347 |
Granted | 2,147,211 |
Settled | 1,169,354 |
Forfeited | (18,750) |
Outstanding at March 31, 2020 | 3,116,454 |
Leases Leases Narrative (Detail
Leases Leases Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | [2] | Dec. 31, 2019 | ||
Lessor, Sales-type Lease, Assumptions and Judgments, Value of Underlying Asset, Amount | $ 171 | ||||
Sales-type Lease, Lease Receivable | 370 | ||||
Sales-type Lease, Selling Profit (Loss) | 209 | ||||
MPC | |||||
Operating Lease, Lease Income | [1] | 186 | $ 279 | ||
Sales-type Lease, Lease Receivable | 425 | ||||
Sales-type Lease, Unguaranteed Residual Asset | 19 | $ 7 | |||
Refining Logistics [Member] | MPC | |||||
Sales-type Lease, Unguaranteed Residual Asset | $ 10 | ||||
[1] | These amounts are presented net of executory costs. | ||||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Leases Lessor Maturity Table (D
Leases Lessor Maturity Table (Details) $ in Millions | Mar. 31, 2020USD ($) |
Lessor, Lease, Description [Line Items] | |
Sales-type Lease, Lease Receivable | $ 370 |
MPC | |
Lessor, Lease, Description [Line Items] | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Current Year | 129 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Next Twelve Months | 157 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Three Years | 157 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Three Years | 158 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Four Years | 158 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Thereafter | 461 |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received | 1,220 |
Sales-type and Direct Financing Leases, Lease Receivable, Undiscounted Excess Amount | 795 |
Sales-type Lease, Lease Receivable | $ 425 |
Leases Lessor Lease Revenues (D
Leases Lessor Lease Revenues (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | [2] | ||
MPC | ||||
Lessor, Lease, Description [Line Items] | ||||
Operating Lease, Lease Income | [1] | $ 186 | $ 279 | |
Sales-type Lease, Interest Income | 38 | |||
Sales-type Lease, Variable Lease Income | 0 | |||
Third Party [Member] | ||||
Lessor, Lease, Description [Line Items] | ||||
Operating Lease, Lease Income | [1] | $ 63 | $ 65 | |
[1] | These amounts are presented net of executory costs. | |||
[2] | Financial information for the first quarter of 2019 has been retrospectively adjusted for the acquisition of ANDX. See Notes 1 and 3. |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions | Mar. 31, 2020 | Dec. 31, 2019 |
Commitments And Contingencies [Line Items] | ||
Accrued liabilities for environmental remediation | $ 17 | $ 19 |
Contractual commitments to acquire property, plant and equipment | 318 | |
MPC | ||
Commitments And Contingencies [Line Items] | ||
Due to Related Parties, Current | 227 | 911 |
Environmental Loss Contingency [Member] | MPC | ||
Commitments And Contingencies [Line Items] | ||
Due to Related Parties, Current | $ 0 | $ 0 |
Indirect Ownership Interest [Member] | Bakken Pipeline System [Member] | ||
Commitments And Contingencies [Line Items] | ||
Equity method investment, ownership percentage | 9.19% | |
Guarantee Type, Other [Member] | ||
Commitments And Contingencies [Line Items] | ||
Guarantor Obligations, Maximum Exposure, Undiscounted | $ 230 |